Where do I begin?
Well, as promised we will take a look at various factors that will guide you to pinpoint the exact medium to use. The factors include:
1). CostThis is the budget your small business marketing department wishes to spend. This can be calculated by asking yourself, how much you are willing to spend per new customer? It is important to consider the amount the average customer spends on your product or services at a given time then multiply that with the years this person will be a customer. Not to mention the plenty of referral if he/she is satisfied.
2) Your Product / ServiceA high end product should be presented in high end, elitist media with prime slots. This will position the brand and achieve desired effect. The marketing campaign must be sophisticated.
3) Target MarketTo reach your target audience one must do a research to ascertain their behavior, where they hang out, what they watch, read, listen to and who their peers are. For instance if you intend to sell an energy drink brand to the youth. You need to know where they hang or take their drinks and thus ensure your product will be available there with the right communication. If it is targeted to certain geographical locations consider using local media i.e. vernacular FM stations.
4) ReachIt is important to determine the number of people your medium of choice will reach. If it is print, the circulation figures including the intricacies like the most popular days of the week if it is a Daily Newspaper. If it’s Radio; the number of listeners of a specific show and the demographic. Same applies to TV.
There are various Advertising mediums available to your small business. Depending on the advertising budget prescribed on your marketing plan you may use a combination of the medium below:
- Brochure / Fliers
- Notice boards
- Bus Shelter
- Branded Merchandise
- Social Media
- Online Advertising
- Email Advertising
- TV Ads
- Radio Ads
- Newspaper / Magazine Ads