In the simplest of terms your advertising goal should be to answer these three questions:
- Who Am I?
- What Do I Do?
- How Do You Contact Me?
“The sole purpose of business is service. The sole purpose of advertising is explaining the service which business renders.” Leo Burnett.
The number one reason to advertise is to create awareness of your product or service. It will allow you to target not only your existing customers but attract new customers. It is important to keep in mind that virtually everything you do in your business is advertising. As such advertising in all its forms must enable you to keep your existing customers coming back.
How much you should spend on external advertising is without a doubt the most difficult advertising question faced by small business owners. The simplest answer is a percentage of sales, now to determine what percentage should I use?
This can be a broad range depending on business size and volumes. In the the highest percentage of businesses they have been found to spend less than 4% of sales. A suggested and more effective marketing budget would be a range of 5 to 10%. This will allow you to effectively promote your business in a consistent manner. Now the challenge is to create a realistic, workable marketing plan.
“Marketing is everything, and everything is Marketing.”
RJN Limited can show you how to maximize your advertising budget.
Contact: Jim Norwood at: [email protected], 905-723-0336