Categorized | Business

Entrepreneur

Too Good to Pass Up

By Tom Irmen

At least once a week, a client or perspective client will tell me that they just couldn’t pass up an advertising opportunity because of the low price. I usually congratulate them, although I often contemplate just how good of a deal they really received.

For me, I’ve always tried to define those unique characteristics that successfully differentiate me from my competition and then understanding just who my target audience was. If you know what differentiates you in the marketplace and who your target audience is, then advertising need not be that big a mystery.

For example, if you sell upscale women’s apparel that targets working women, then you will want to avoid television or radio spots that air while these women are at work. Radio might be a great option on the drive to or from work, and although more expensive, should produce far better results than the bargain slots that air when your target customer is not likely listening.

If your target audience is just a short distance from your retail location, then a well placed billboard in close proximity might make sense.

A print ad in a publication that saturates your target audience might also make sense. But if you’re in a competitive marketplace where you excel in customer service, a print ad may not allow you to successfully differentiate yourself. In such cases, you may also require advertorial content to accomplish your objective.


While all of this may seem very confusing, it need not be. Ask yourself:

• What differentiates me from my competitors?
• Who is my target audience?
• What is the most effective advertising platform to reach my target audience?


Avoid advertising decisions solely on the basis of price. Consider each dollar spent on advertising as an investment. If a low price has a low return, it’s still a poor investment. Strive to achieve the greatest return of each advertising dollar invested.


Personally, I’d rather spend the same amount of money on a single radio spot that has a great message, that airs at just the right time, and that targets more of my potential customers than 10 spots that air at the wrong time, on the wrong station, with the wrong message, and that targets few of my potential customers. The same is true of print, television, online, billboards, and other platforms.

I believe that 70 to 90% of all advertising dollars are invested poorly and can be saved or invested elsewhere. This coming from a guy who sells advertising for a living. Maybe you should consider passing up that deal that is too good to pass up.

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