Retail landscape is patchy
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In the last article, I looked at understanding your market/s. Once you have established the markets you are targeting, now you have to decide on what types of media will best reach them. The media you use is determined by your market. There is no point in spending money on media that does not point to your market and ultimately make sales. But what types of media can you use? There are many different sorts; Websites,Google ads, newspaper advertising, radio, TV, direct mail and outdoor media, to name a few. Write down a list of media outlets that are available to you and then write down the ones you currently use. The recommended coverage is 10 different avenues of marketing. How many do you use? I have seen lists of over 50 media outlets.
To choose the correct media outlet may seem relatively easy but many a business person, myself included, has been sold advertising space based on cost and not given a thought to whether this media is actually aimed at their preferred market place. Understanding where your market shops is crucial to understanding what media outlets you should use. So often we purchase advertising space for all the wrong reasons and we convince ourselves that our decision is based on sound judgement. Some of our choices are simply for brand awareness reasons, but unless our budget is huge can we afford that type of marketing? We market our products, our services, for one reason only, to make sales. Does your choice of media achieve that aim, well you can answer that question.
We all make mistakes, I have made many and still do, but I don’t wish to make the same mistake twice. So I track all adverts, whether they are paper or internet-based. If you can track the response you receive from any piece of media, you put yourself in a more powerful position when you are approached for repeat business.You will have actual numbers that you can show, which demonstrate your return on your investment for each contact you receive. It is not always that easy but the more knowledge you have, the better informed you are. Some of your advertising decisions may prove to be excellent but others may prove to be expensive mistakes, but at least you will know the difference! So choose your pillars of marketing, try to create at least 10 different types, it is not that difficult with all the different media outlets today, and craft your message to each one of your markets aiming to compel your market to contact you, more on those messages next month.
This article first appeared in the May 2014 issue of Kitchens & Bathrooms News