3 Secrets to Getting the Most Out of Your Ad Budget
“How much will it cost to advertise?” We get this question all the time from potential clients, but there really is no finite answer. It’s a lot like asking, “How much will it cost to build a house?” There are many avenues, choices, upgrades and downgrades to consider.
Our answer to the question is usually, “How much do yow want to spend?” and we don’t mean it in a smart-ass way. Just like everything else in the world, “you get what you pay for”, “you get out what you put in”, “you gotta pay to play” and a slew of other clichés. But, there are three things you can do to get the most out of your advertising budget.
#1 Make sure the creative idea is GREAT (not good, but GREAT)
Don’t play it safe. Don’t get opinions from everyone in the office. If your agency gives you an idea, go with your gut. Too many opinions leads to watered down ideas, which leads to watered down results.
Just think what would have happened to “Just Do It” and “Where’s the Beef?” if Nike and Wendy’s let their Executives chime in with their opinions. They would have heard things like, “I don’t know… this scares me. The sexual overtones are just to risky.” Luckily for them, they were convinced that these would work because they were memorable, actionable and portray the brand image perfectly. If they weren’t convinced and if they let other people take over they may have ended up with slogans like,
“Wear Nike and Go Out and Exercise”
“Nike Will Make You Do things You Wouldn’t Normally Do”
“Just Do It, but we’re not talking about it, we’re talking about sports and exercise.”
The same is true for Wendy’s. “Where’s the Beef?” could have ended up being:
“Our Burgers Have More Beef”
“Our Competitors Have Less Beef”
So, let’s circle back to point #1. Get the most out of your advertising budget by making sure the concept is a great one, not just a good one. Don’t let it get watered down.
#2 Do Your Research
Let’s say your looking to hire an ad agency and you’re quite impressed with their client list. They have a lot of clients or they have some big names on the list. But, do they still have those accounts? How long did they keep them? And do you remember seeing or hearing any of the ads they did for that client? If you don’t, chances are they’re not as great as they appear. A lot of agencies look good on paper, but don’t ever really come up with the breakthrough campaign. Look for agencies that you recognize their creative, not their clients. And make sure they keep clients for a long time. It means they’re doing something right.
#3 Ask these 3 questions of your new campaign:
1) Does the idea draw attention to your ad?
2) Does it help your target audience remember the ad?
3) Will it make them buy or try your product?
If you answer “no” to any of these questions, then you and your agency need to start over.
So, if you want to get the most out of your advertising budget follow your gut on the concept, do your research on the agency and make sure the concept is to the point and will increase sales. It’s simple, really. Now go out there and advertise.