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How to Choose the Right Ad Venues


3 Dec 2007

 

CHOOSING THE RIGHT MEDIA FOR YOUR ADVERTISING

Advertising requires planning, implementation, constant evaluation and adjustment, especially in first year. Un-planned, un-co-ordinated efforts can be costly and ineffective.  You don't have money to waste on ineffective advertising. 

Properly executed, advertising multiplies your business exponentially. For example, you spend $100 on advertising, you generate $200 worth of business, plus a whole lot more spin-off business as referrals and repeat customers are created. Where else can you grow your money at this kind of rate?

Initially, you may have to use trial and error to learn what works and what doesn’t. Just be sure to give each advertising medium time, commitment and consistency before you decide it doesn’t work for you. Measurable results are rarely instantaneous.  A good rule of thumb is 9 times. 

Monitor your results very carefully. This means asking each new client where they found out about you, and then asking if they also saw any of your advertisements in other media.

Even if someone claims that they came to you from a referral, don’t neglect to inquire further. Just because someone called via a referral does not mean they were not influenced or reminded by your advertising, as well. The referral may only have been what confirmed their final choice.

I have seen many advertisers who were convinced their advertisements were not working. Yet business declined once they stopped advertising. If new clients came due solely to referrals, this would not have happened. In fact, business would have continued to increase. Even your regular customers sometimes need to be reminded that you are there!

Ask your clients which ads they liked the best, what they didn’t like, and why. Find out their motivation for coming to you initially. This is the only way you will find out what works for your particular business. Then adjust your advertising media, methods and style accordingly.

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

 

Understanding media terminology In print media, readership, distribution and circulation are entirely different subjects. Some print media may average two or more readers per copy. Readership might be double that of circulation. Newspapers fall in this category.

Circulation is often determined by the number of copies printed. But, there is no guaranty that all copies are distributed and reach the hands of the consumer. Free magazines and tabloids are distributed by controlled distribution. This means they are shipped in bundles to a multitude of locations where some or all may be picked up.

Some distributors place bulk quantities in locations without researching the number of actual subscribers in that area. Therefore, a large percentage of the copies may be wasted, stale dated, or thrown away. It is important to ask for details on the number of distribution points and the quantities at each site so you know just where your ad is going and if it is actually reaching your market.

Magazines with a cover price share the same fate. They are shipped to a national distribution house where they are distributed in small quantities to a multitude of retail outlets at the first of each month. Copies not sold by the 25th of the month are shipped back to the distribution house. They are then shredded. A publisher may therefore print and distribute 100,000 magazines, but actually sell only 65,000 copies.

Advertising rates are determined by the quantity of copies printed. Calculate the true cost of an ad by dividing the invoice amount by the number of readers that are actually your target market.

 

Everything you need to know to effectively market your Alternative Health practice is in CAM Professionals' Guide to Attracting Clients

 

 


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