02/06/2024
Advertising - It means many things to many people. The term is mostly misunderstood. It is especially misunderstood by most of the people who pay for it. Firstlly, advertising is not marketing. Too many people who advertise believe advertising is marketing. It can be used as part of a marketing plan but without the plan it is mostly ineffective. Advertising is a tactic that can be used to reach a specific market in order to communicate something advantageous to persons living within that market. From the business perspective it can be used to entice, excite, and motivate a consumer to review, shop and or purchase products or services. Secondly, advertising has little impact when used without a specific objective. These objectives may include but are not limited to: call-to-action, competitive advantages, image building to highlight reasons to choose business A rather than business B and C, education for the purposes of communicating consumer needs with business offerings, reach employees for hire with relative information and positive reasons to engage business H.R. via presentation of advantageous image and exceptional work environment reputation, and to effectively convey business positives to overcome negative consumer perceptions.
Advertising is most effective when used to create irresistible expectations that are perfectly fulfilled by the advertiser once the consumer is ready to purchase. It is imperative that the business honestly presents the offering and maintains a continuance of all included in the advertised PROMISE/expectations.
Business advertisers should ask themselves the following before spending money to advertise:
1. Do I have a marketing plan that includes a definement of target audience?
2. Do I know my geographic market specifically? (D.M.A. Designated Marketing Area)
3. What are my goals and objectives - marketing plan?
4. What strategies will be needed to bring my goals and objectives to fruition?
5. Will advertising be needed to fulfill my strategies?
6. If so, what advertising mediums will be most cost-effective?
7. Am I prepared to market, advertise and promote my business and business offerings in order to be successful in fulfilling my goals and objective?
a. Is the presentation of offering to my target audience enticing and competitive within my DMA?
b. Is my house in order so to invite my target audience to come, shop, buy - conclude with exceptional consumer satisfaction ratings after purchase?
c. Do I have a method for reaching the consumers who shopped/purchased from my business in order to survey them. The survey should include: Why did you choose my business? Did we fulfill your expectations? Tell us what we did right. Tell us what we did wrong. How do you think we could improve? Will you recommend our business to others? Follow-up with all shopper surveys with personal phone call or thank you card mailed not emailed or text messaged.
Advertising mediums should be selected based on their cost-effectiveness relative to what they costs per thousand targeted persons, There are other ways to measure this but cost per thousand is very effective. The ad mediums you choose should also be ones that reach targets relative to your type of business. e.g., If your targets are ones that will be required to drive a relatively short distance to your business or if they can purchase from any distance via the Internet or other mediums. Your ad campaign will need a specific timeline with a starting date and finish.
Example: ABC Business located in Kansas City, Kansas. A manufacturer of restaurant supplies. Privately owned and operated.
Target audience: Restaurant owners and operators who are decision makers relative to the purchase of restaurant supplies. Restaurants that are classified as upscale with diners who spend an average of $100 per meal.
Geographic service area or DMA: Central United States for the cost-effectiveness of company truck delivery and after the sale service and repair. States include Kansas, Nebraska, Oklahoma, Arkansas, Missouri, Illinois, Iowa.
Goal: To become the leader in high quality restaurant supplies sold to upscale restaurants operating within my DMA.
Objectives: 1. Increase sales by 9% over last year's sale year to date. Sales this year: $2,345,987.23 to $2,557,125.23 Increase service contract sales by 5%. Year to date.
3. Improve top-of-mind awareness of ABC business from # 8 to #6 by this time next year. Year to date.
4. Add lifetime product guarantee for purchase with product @8% additional costs over $15,000 per unit order
5. To improve the quality of our staff in respect to training and product knowledge.
6. Increase service staff by two members
Strategies:
1. Develop a communication piece that can effectively reach restaurant decision makers in our DMA on a regular basis, to communicate that we sell, quality of products and contract service.
2. To find partners within the banking and finance community that specialize in loans to new upscale restaurants. Offer incentive to these partners and develop personal relationships with CEO, CFO, COOs.
3. Write a comprehensive marketing plan.
4 Select cost-effective marketing/advertising mediums to reach target audiences) within out DMA.
5.. Develop high quality creative pieces to be use in marketing via a marketing /creative company that has restaurant expertise and a track record of creating award-winning marketing campaigns
6. Contract with an experienced public relations firm to manage news releases, stories in restaurant industry publications and target customers and marketing within our DMA.
7. Develop an annual Award to be presented to an upscale restaurant located in our DMA that has shown exceptional customer ratings relative to quality, service and restaurant environment. Conduct an awards ceremony that winner and runner-ups can come, be entertained, dine, presented with awards and PR afterwards per our new PR agency.
Tactics:
1. Write/print a newsletter that will include news about ABC business and what it can do and has done for customers. Include special features about exceptional restaurants operating within the DMA. Include ads and specials offered for our products and services. Print and mail approximately 7,500 of these every other month.
2. Mail personal letters to finance decision makers and banks outlining our incentive program, followed up by phone calls and personal one-on-one meetings when possible.
3. Use Art Hyde and Company to write a comprehensive marketing plan for our company with one-year, 3-year and 5-year objectives. Set meetings with agency account executives, writers and our key staff members to conduct Q and A.
4. utilize approved marketing and advertising tactics per targeted social media sites, online videos, enhanced website pages features, and ads in Restaurant News and other industry publications - per our products and service programs
5. Have Art Hyde and company create high quality creative for social media, digital ads, 3-minute video, 1/4 and 18th page ads for industry publications and work with ABC website developers for input of marketing pieces, stories and information.
6. At this point you should understand how to make this work.
Budget:
Timeline:
Method of measurement:
If you have questions call me, Art Hyde 405-715-0116 [email protected]