Objectives will vary with each type of business. Usually, one or two will be of most importance to a business. Some typical objectives are to !
Increase store traffic.
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Acquaint customers with new products.
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Promote special events, such as a clearance sale, a new location or the opening of a new business.
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Change the company image.
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Keep the business name and location before the public.
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Inform customers of special services available, such as delivery service, alterations or credit plans.
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Introduce new employees to the public.
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Tie in with a supplier's national promotions.
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Capitalize on the seasonal nature of a product.
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Offer get-acquainted incentives.
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Emphasize quality of product and services.
The most important asset of a small business is quality, and advertising is the way to let potential customers know that it is the mainstay of your business. Unfortunately, some small businesses underestimate the value of advertising or are basically uninformed about how to budget money for advertising, how much to spend and where to advertise. A new business should be prepared to spend about 5 percent of projected gross revenue on advertising. An established business should budget 2 to 3 percent of gross revenue. Advertising Media Once the advertising objectives have been established and written, the next step is to select the specific media in which the advertising will appear. Media costs vary from inexpensive, such as business cards, to very expensive, such as television. The selection should be based on cost effectiveness, scheduling, trading area, customer type and frequency of message. The types of media available are as follows: !
Telephone solicitation - Low cost; effective if message is worded carefully.