In our last lesson we discussed the building of joint ventures and strategic marketing alliances. We opened the possibility of using them to build our database so that we will be able to market to the prospects we collect for a long time to come. One of the things that small businesses need to have is a way to reach lots of people very quickly. Once you have grown your business to a certain level, it will be necessary to use media advertising. However, media advertising does require that some very important thinking be done before it is fully used.
One of the things that companies must do is to put in a very reliable, simple to understand tracking system. This is because when you step up to media advertising, you will be spending a considerable amount more money than you spend on the web or with PR. With a good tracking system, you will know where each of your new customers is coming from; you will also know how they came to decide on your company. When you do this consistently, you will be able to know the return on your advertising investment.
Once your tracking systems are in place, you will need to take a careful look at who your actual customer is. Certain forms of media will work better than others given a specific demographic. There are a number of choices that you will have available to you, that you will need to have a good handle on which situations require the medium you are thinking about using. There is no reason to use radio, if your prospects will respond better to direct mail. In a later lesson, we will review each kind of media advertising and then outline the scenarios in which each one works most effectively.
In our next lesson, we will discuss how you can leap frog past using paid media, and use PR instead as it is more cost effective for small companies. We would like to help you before you decide on a costly ad in the yellow pages, on radio or on television. Call us today so that we can show you a situational analysis and where your company will fit.