For more than 20 years I’ve worked with business owners, managers and marketing directors on placing advertising campaigns. One common mistake that I see is trying to do too much with their advertising budget.
Many our current clients have heard me say that we want perception of our advertising being everywhere while continuing to avoid trying to buy everything. In other words, avoiding the temptation of spreading our budget too thin by buying too many media platforms. As you know, there are countless places to spend your advertising budget. To simplify things we take the top media platforms that give our clients the most effective and impactful results, or ROI, and “Own” those media outlets by prioritizing and dominating them with our client’s message. Through extensive vendor negotiations, we obtain the lowest rates, gain the most added value and bonus and are consistent in what we do. This process is tremendously more impactful than placing a little advertising with many different media outlets. We tier our platforms for each client and work from a bottom up budget, which enables us to determine how many different platforms we are able to buy. Each client is different. Some clients utilize digital only, while others focus on digital, TV and radio for their primary platforms while using print, outdoor, and other media outlets for secondary platforms.
The key is to eliminate waste or diluted campaigns and truly maximize efficiency. There is certainly a strategic approach to this by achieving a certain level of GRP’s per medium before moving to the next medium. If you’re not using this approach, or negotiating audience measurement levels with your vendors, you are paying too much for your advertising and wasting dollars.