Now with 10% More Advertising!
By Logan Powell, Account Executive

One of the current challenges in the field right now is the economy, and how can we - as an advertising vector -  help both our clients and ourselves win what seemed just two years ago, to be a losing battle? How can we help local businesses thrive under the weight of reduced consumer spending? In what ways can we stretch those advertising dollars to their limit, all while staying within the constraints of heavily scrutinized budgets?
 
I can assure anyone reading this, at Monticello Media, we’ve been doing our best to ensure that not only do our clients see a return on investment, but that they see solid results, and increase their brand equity, so that when the economy does rebound, albeit not to the juggernaut it was before, they will be top of mind with consumers.
The thing is, I can spout ad jargon and say that we can help businesses reach “top of mind”, but when it comes to brass tacks, the meaning can easily be lost in translation. The goal of any advertising campaign will always be monetary at its simplest root. That’s the measuring stick for our service: “How much money can it make my business?” Honestly, there are a lot of factors in that. From where the ads are placed, how they are supported in complimentary media, the consistency of the branding across the different medias, and even the aesthetic of the ad.
 
The biggest selling tactic out there that works so well and can get you back in the door is simply asking the client pointedly, “What if I have an idea I think can make you some money?” That will generally net you a meeting. It’s not wrong to talk to and coddle their wallets, because after all if the client makes money, then the client is likely satisfied with the campaign you’ve provided them with. To get the edge in this environment, it is necessary for any business to make sure consumers know they are there. The reason being that while consumers are spending less, they are indeed still spending. So it’s the job of the advertising outlet to expose the advertiser’s product to the world, and when the time comes to make that sparse purchase, they are the ones that come to mind. It’s only a matter of finding the point at which brand awareness, the service offered, and value come together to drive consumers to your business.

So it comes with little explanation that the essential nature of advertising isn’t limited to a good economy. The biggest thing now is how to make an advertising buy as precise as the hand of a surgeon. Two things affect this, and both are in the hands of the Account Executive and the Advertiser equally. Volume and Value. These concepts will make or break a campaign, and when it comes to small businesses, it can cripplingly limit their outlook on advertising. Volume pretty plainly pertains to the amount of advertising bought, and honestly, that is a factor commonly underestimated. It’s my personal belief that a proper branding campaign on radio for example, needs to air on average at least 16 spots a week, over the course of one business quarter, or 13 weeks. There are some extenuating circumstances of course, dependent upon the goal of the campaign, but that’s for another post in the future.

Value is related to the targeting of the ads. For example, for a product that truly isn’t specific to a genre of music/facet of culture, our local station Country 99.7 (WCYK) is the best choice. It may have higher rates, but the value of buying the station is higher because of the true mass appeal of country music, as well as the broadcast area for the station. But value isn’t limited to the Ad Provider, it also has a great deal to do with the advertiser, as they must offer a product or service that consumers will want, at a price they will pay. If you are just a few dollars too expensive, or just offering a useless doohickey, then you’re marginalizing yourself. One example of this is a business I am currently working with to get on the air. They’ve recently purchased the store from the previous owner. This business under the old ownership had a terrible reputation for being overpriced. In taking over the business, the new owners examined the pricing, and the pricing of their chief competition, and reduced their prices. Business has been steadily growing ever since. The content of the ad, especially regarding to what you’re selling, is absolutely paramount. You can’t sell something that nobody wants to pay for, doesn’t work, has no legitimate consumer base, or is just too expensive.

The point to all of this is simple: the responsibility for a business not only staying afloat, but hopefully prospering in this economic climate is on both the client and the account executive. I know that our team is working hard at making sure that not only are our clients getting the ad time they want, but also trying their best to ensure that that time is used effectively.