There are so many media options in 2018 that many business owners feel overwhelmed by the volume of cold calls they receive from advertising reps calling to sell them advertising. Our clients forward our traditional advertising agency sales pitches nearly every day that they’d like us to take a look at. Over the past 10 years we’ve seen thousands and thousands of advertising proposals. We’ve used the analogy in past blogs of advertising investments being akin to real estate investments. Every advertising purchase has a “comp”. When we look at advertising opportunities for our clients we always ask ourselves, “Can we spend this same dollar amount better elsewhere?” If we can’t come up with a better way to invest the dollars, then that advertising opportunity is a good one. Opportunity costs are important considerations in business in general and training our clients to consider each advertising investment carefully and weigh the opportunity cost is a big part of our job.
Advertising dollars are finite resources. When we’re given an advertising budget for the year, our job is to ensure that we are advising our clients to invest in the best advertising solution for their unique needs. As a traditional advertising agency that also invests heavily in digital advertising, we’re always considering how we can most effectively reach our clients’ target demographic most efficiently? What type of media will give an advertiser the greatest return on their advertising investment? When shopping for a home or an investment property, buyers seek out comparable properties to be sure that they are buying the best property they can considering market conditions and their budget. With advertising it is the same. If you have X advertising dollars to invest in 2018, it’s crucial that you know where to find the best value. Not the best price necessarily. Best value. You can get a great price on a terrible ad. But that’s not going to generate conversions and sales. Every dollar counts. Make sure that your 2018 advertising dollars are wisely invested and working as hard as they possibly can. There is great opportunity in the upcoming year!
Happy holidays from all of us a Thrive! Wishing you a prosperous 2018!