I get a lot of business owners asking me about what it would take to advertise on the Radio. Meaning cost. Which kind of surprises me a little bit. Shouldn’t the question be, “How can I make my advertising actually work this time?” Even if you buy the cheapest advertising available, it’s still expensive if it doesn’t work. Right?
Here are five problems to overcome before you spend another PENNY on advertising:
First problem: You don’t have an ad budget. You don’t have a percentage of your revenues set aside for advertising. Get a number. Get comfortable with that number.
Second problem: You don’t think about the lifetime value of just one new, good customer. How much will THEY spend with you in their life? How many people will they tell about you? That all adds up to a pretty nice number usually. Figure out what you’re willing to spend to attract that new customer.
Third problem: You look at advertising as a necessary evil. Necessary evils are mandatory. Bad advertising is not mandatory. When you advertise smarter, when you have a plan (stop shooting from the hip), your necessary evil becomes an accelerant for your biz that you wouldn’t want to be without.
Fourth problem: You want instant returns on your advertising. If you air 10 radio ads a day for a week for a special event, and it brings you a healthy group of buyers… you want that to happen every time. Of course you do… that’s understandable. So, why wouldn’t you do that every single week? Deep down, I think you know that it’s not possible to keep working miracles week in and week out. But you still want to be able to flip a switch and release the flood gates at a moment’s notice. You think that just by letting people know about you and your special offer… you should get a nice return. It doesn’t work that way, does it.
Fifth problem: You know that creating a solid relationship with a person and gaining their trust gives you the best chance of them buying from you —– but you don’t feel your advertising should be used to do the same exact thing.
Results Radio – Townsquare Media