Q We have a company with a product that has been doing very well even through the recession. We sell to many types of stores and have a large demographic reach. My question is, in this digital age of website purchasing, when is a good time to advertise your small business on television?
SNOOZE CITY DESIGNS
A Many factors influence the decision to add a new promotional medium to advertise a product or company.
First and foremost, understand your current and potential customers, what types of media they consume on a day-to-day basis, and what types of marketing messages influence their product purchases. Also, try to understand whether there has been a shift in consumers' media preferences and the types of promotional activities that are producing maximum impact in your industry. This will help you assess the right media mix for your promotional strategy.
If your business is in the growth stage and you believe that adding television to the media mix will help you achieve greater noise level, higher rate of trial, or repeat purchases in your target markets, then it may make sense to advertise on TV.
Last, think about the incremental return you are likely to achieve on the TV advertising spend. The returns may be tangible, in terms of increased sales, or intangible -- such as greater brand visibility and awareness, enhanced brand equity or increased credibility in the marketplace.
If the returns are favorable when compared with the investment, go ahead and add a new medium to the mix.
UNIVERSITY OF ST. THOMAS
OPUS COLLEGE OF BUSINESS