As small business owners, so many of us have fallen prey to
the smooth talking media sales reps. The
minute you open your doors for business, sales reps from the TV stations,
newspapers and radio stations are the first ones in your door. In their hands they have what I like to call “the
deal of the week”. You know you need to
market your business, especially when you’re just starting out, so you sign up
for these promotions because they’re “a limited-time promotion” and “you’ll
never get a better deal”.
I have a client who, when I first met her, had spent over
$15,000 in advertising the previous year.
Her comment to me was “I’m not sure if any of it worked.” This was a very clear example of someone who
had been too nice to say, “No, thank you” to the sales reps. I understand that sales reps need to make a
living. I get that. What I’m saying is that you need to be smart
about where you’re spending your money.
Before the sales reps ever come walking through your door,
here are some things you need to do to save yourself a lot of money.
- Know your customers very, very well. I don’t just mean your existing customers, but who your ideal customer is. Who do you want to communicate with?
- Know where your customers are. Do they read a physical newspaper or do they read an online newspaper? Maybe they don’t read a newspaper at all. Maybe they follow their favourite media online and get updates through social media. You can’t communicate effectively to your customers if you’re not sure where they are.
- Create some marketing goals. These goals will stem from your overarching business goals. Do you want to attract a new demographic? Do you want to introduce a product or service? Decide what you want.
- Establish some tools to measure the effectiveness of your marketing campaigns. If you have no way of tracking what’s working and what isn’t, you’ll never know what forms of advertising to use. This is precisely why too many business owners wind up spending way too much money on their advertising.
- Stick to a budget. When you develop your marketing plan for the year, you need to create a budget to work from. Stick to that budget and don’t be afraid to tell the sales rep that this current promo doesn’t fit into your budget.
Now, every time a sales rep walks through your door with the
latest “limited-time promotion” stay strong and walk away from the “deal” if it
doesn’t fit into your plan. If it does
fit into your plan and budget, take advantage of the deal. Work closely with the sales rep to make sure
the ad copy addresses the campaign goals and you’ll be all set.