5 Steps to Making Your Advertising Dollars Count
Unless your business takes flight soon after launching and it never loses momentum, you’d need to come up with a strategy to reach your target audience. One of such strategies is to pay for an advertisement that will help you reach your target audience and convert them from leads to prospects into customers. Whatever platform you choose out of the many options there are out there, be sure to choose one that commands the attention of your target audience.
For many small businesses, paid advertising is the way to go when they are new to the market, trying to improve sales or trying to make more profit. However, paid advertising does not automatically count unless you have a real strategy for it.
When you pay for advertising either on your website or you pay for Google Ads or perhaps even you pay an influencer, you must have a solid strategy in place to make it count.[Great Read: 5 Strategies to Run Your Business Without Employees]
Set a Goal
One of the top mistakes entrepreneurs and small businesses make is spending money on an advertisement without a clear set of goals. Prior to spending your hard-earned money on adverts, you must ask yourself and answer the question, “why am I doing this?” Examples of your answers could be to sell a current inventory, build your email list, to create awareness about a new product, to upgrade current customers to a new plan, to create a general awareness of your brand.
Whatever response makes sense for your brand is what you should write down. Other things you should consider include the platform, timeline and budget.
Create a Target Profile
To maximize your advertising dollars, you must do everything you can to create a target profile for your advertising campaign. What is a target profile? This is the profile that describes the ideal person you want your campaign to be shown to. This is very important because it makes every dollar you spend on your campaign count.
Running an ad campaign without a target profile will not give you the best results. How do you create a target profile? First, you need to consider what the product is and the type of people you believe need the product. You can also create a target profile using demographic and psychographic information or either. Your choice depends on your industry and what your end goal is.[Great Read: How to Use Storytelling to Build a Profitable Brand]
Choose the Right Platform
Once you create a target profile, the next thing is to choose the right platform to run your ad campaign. Yes, there are many advertising platforms out there but your choice should not be based on feelings, it should be based on research and logic. Choose the platform that commands the attention of your target audience, is easily accessible and fits within your budget.
Write an Effective Ad Copy
You’ve been working hard to make sure your advertising dollars count, now, is the time to make your efforts count by writing an effective ad copy. Your ad copy must be compelling, clear and distinct. For an ad copy to be effective, it must have the marketing language that resonates with your target profile.
Also, you can have more than one copies and try them out for a period of time. Once you try them out, measure your results and determine which copy worked the best. Choose the best performing copies and then replicate and implement until you get the results you desire[Great Read: 5 Time Management Tips to Help You Reach Your Business Goals]
Collect Email Addresses
One of the best things you can do to maximize your advertising dollars is to collect email addresses. An email list has been described repeatedly as the money list. Therefore, as an entrepreneur who wants to build a profitable brand, you must be ready to get your share of the money. An email list will do just that.
Bottom line: Always have a goal in mind and develop a strategy before investing in marketing and advertising. As you go along, study your results. Keep doing what works, improve the things that can be improved and discard things that are not working. This way, you can maximize your returns and make your efforts count.
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