Why is Advertising Soooo Expensive?

How often do you hear someone say, “I would advertise but I can’t afford it. It’s just too expensive.” Then they go into the song and dance about how they did this, they did that, and nothing worked. It was all a waste of money.

Some of them will try it off and on, in different vehicles, just to remind themselves that advertising doesn’t work and so they can say to their friends and colleagues that they tried.

It’s odd that so many advertising mediums stay in business when advertising just doesn’t work.

Here are some of the advertising rationales I have heard over the years from business people.

 

• Some of them heard or read something about a formula, a percentage, they should set aside for advertising so they did it and now they have to spend it.

• Some have the same little ad, in the same place, every week. It doesn’t cost a lot and they can cover the cost. Just in case someone goes looking for them, they feel a need to be there.

• Some will advertise once in each place they think they can afford. They only advertise once because it never works.

• Some want to be right next to their competition, with an ad just like the competitions.

• Others want to be nowhere near the competition and want to know what the competition is doing, so they can do something else. The competition stole their last idea and they are still using it!

• There are the new product/service launches.

• The lucky vendors with co-op dollars to spend.

• Buyers who are friends with the advertising sales rep so they know they are getting a good deal.

• Advertisers who think you have to advertise a low price.

• Advertisers who think you shouldn’t advertise a price.

• Some advertisers want a guarantee the ad will pay for itself.

• Some businesses never advertise and don’t market, but they never seem to be around long.

• Last in this list are the big stick advertisers. They have huge budgets and are going to beat you into oblivion with their great big ads and low, low prices.

 

Where do you fit in?

 

Why would you spend money because some formula says you should? Will the formula tell you how to pay the bills when the money runs out?

If no one responds to your ad week after week, why would you continue to spend the money?

It takes a least 3 exposures for a prospective client to notice you. Just because they didn’t act the first week doesn’t mean they never want to do business with you. Unfortunately, they may never find you; they may always be just one step behind in your discarded advertising trail.

Who cares, who is advertising next to you? There will always be someone else there…beside you, coming up behind you or in front of you, for you to try to catch. Are you in business because you want to be “just like your competitors”?

Maybe the competition figured out how to get better results from your idea than you did. Maybe they aren’t getting any results and can’t decide on another strategy. Who cares! Talk to your customer; don’t worry about The Other Guys.

If it’s always about price, there is no loyalty. Think back to when you were growing up. How well did it work to buy friends with candy or ice cream? How long did they stick around after the goodies were gone? If you Wowed them when they were there, they would.

If having a huge budget for advertising was all it took to guarantee success there would not be any small businesses. Small Business still makes up the largest portion of the business community.

 

So why is advertising sooooo expensive?

Because most businesses never figure out how to make it work.

 The irony is, if you think everyone is your customer and advertise that way, people who do business with you will think you are the same as every other business who does what you do or sells items similar to what you sell. Your customer won’t think of themselves as your customer. They will think of your business as a place they buy things from … sometimes, when it’s convenient, or when the price is lower than the other place (the one whose ads you don’t like to have next to yours) or they can’t get someone else to do the job.

Advertising should be relevant to your target group. Choose one overriding benefit of why people do business with you and scream it from the rooftops!

Advertising is only expensive when it doesn't work!