June 8, 2016 by Scott Howard
I recently wrote a couple articles that gave you the specific price per ad on WOWO radio.
But I must warn you.
The wrong way to buy advertising is by price alone.
If you only use price, then odds are you are going to go with the lowest price.
And lowest price with nearly anything often is the lowest value.
I’m not saying price is unimportant, but it is all relative.
A better way to buy advertising is to start with the end in mind. You need to know why you want to advertise before you decide how much to spend on advertising.
You need to know what success looks like.
Not just success, but Top Of The Mountain Success!
Also you need to know what medium level success is.
And break-even success. Because the odds of success are against you.
The majority of businesses that were started in the past 5 years went belly up.
I’m talking post-recession too.
So if considering price only is the wrong way to buy advertising…
you need to know what the different levels of success look like, (in black & white)…
What is the Right Way To Buy Advertising?
It involves creating a business plan that includes a Marketing Strategy Plan.
This marketing strategy requires discovering who you want to invite to do business with you, what those people are looking for, who else they could buy from, why your business compared to those others and then what is the best advertising vehicles to use to invite those folks to you.
It’s not until the last step that price is a factor.
Want help? Ask me.