How do you choose the advertising media that is right for you?
Don’t waste time advertising in any type of media that only reaches a fraction of your market. Know your customers. Who are they? What are their interests? What do they read? Do they listen to radio or watch TV? Which programs and stations?
For example, while almost 86% of the population has tried some form of alternative health at least once, people who regularly subscribe to alternative health comprise only about 1/3 of the general population. Approximately 80% of these consumers of these are women. The term for people who live a more natural, environmentally-aware lifestyle is "cultural creatives."
So, when you advertise in a local newspaper with the hopes of reaching these people, you are wasting your money. A newspaper might have 20,000 readers, but less than 2,700 of these readers will be interested in what you do. Nevertheless, you are paying for an ad based on a readership of 20,000.
Let’s say you spend $400 for an ad in the newspaper. On a per-consumer basis, that means it actually cost you more than 15 cents per person to reach your target market! Plus, your ad is set amidst a venue with content that does not support it. Your ad has to compete with a multitude of ads that might press the consumer with a greater sense of urgency, such as a time-limited sale.
Newspaper readership is highest on the front page, the sports page, and the comics. Your ad isn’t likely to be on any of these pages. The newspaper is discarded after only one day, so your ad has no further opportunity to work for you. Is this a wise place to put your limited advertising budget?
On the other hand, if you researched carefully, you might find a publication that catered exclusively to the alternative health industry. The same $400 would buy you an ad that is probably larger and more noticeable because of the difference in layout, design, presentation, and ratio of ad content. 100% of the readers would be your target market. It would be supported with articles that related to your business. Even if the readership is only a fraction of the newspaper’s, it would still be a better buy overall.
Let’s say the circulation of the alternative health magazine is 10,000, with a readership of 15,000. It is only about half that of the newspaper. Yet, a $400 ad in the magazine actually cost only 4 cents per person to reach your target market! That is a whopping 400% difference in cost savings and overall effectiveness!
So, one of the keys to effective advertising lies in keen awareness of what is known as demographics. Demographics is statistical information about your clients, such as gender, age, income, and interests.
Psychographics reveals how your target consumer thinks about certain issues, and the way they do business. You have to know the right questions to ask and what to look for! Each advertising media obtains information on its readership to help you zero in on your target market. But, first you have to understand your demographics and psychographics to find the best match.
For more information on who are your potential clients are and where to find them see Marketing Basics for Alternative Health professionals