Which Advertising Format Works for You?

Choosing the right advertising format hinges on your budget and the effectiveness of your research. Before choosing your advertising medium, conduct a cautious and detailed investigation into all forms of media. Then determine a realistic allocation for advertising costs.

Specialty websites, Yellow Pages, magazines, direct marketing and referrals have proved the best way for me to spend precious advertising dollars. But I've made mistakes along the way. For example, when I began my business, an interior design magazine approached me to advertise my products and franchising service. I spent $2,000 on a half-page, glossy commercial ad and received no responses. It simply was not the best market for me to promote the business.

Looks can be deceiving. Every day, business owners invest in full-page phone directory ads that can cost thousands of dollars each month. A limousine company or plumbing service will probably get its money back. For a small consulting firm, startup accountant or retail boutique, the costs may outweigh the benefits.

It isn't hard to find a reputable publication or radio/TV outlet, but you also need to research the demographics of the reader, listener or viewer. Don't choose a sports radio show if you're a bridal consultant, for example.

If you want to advertise in a magazine or newspaper, look at the circulation, demographics and whether the publication is readily available to your target market. If you aren't sure, either wait or buy a small trial ad to test the waters.

If cash is a consideration (and it usually is), try bartering your way into a media deal. Proceed carefully, ask lots of questions and be clear about any additional cash outlay required to seal the deal. I once bartered for 10 radio ads I thought would be on a syndicated radio show heard mostly by women. After spending hours listening for the ad, I called the station manager only to be told that barter clients were secondary to revenue clients. I was bumped to "run of schedule," which meant the ad would be played at the discretion of the program manager in any slot, even the 4 a.m. farm report.

Choosing to run ads on various websites and marketing your own website can be immensely frustrating. How can you compete with the big dogs that have full-time marketing and web placement specialists on staff? Most industries have community-type sites that offer ad space. This can work well if the site is publicized and offers exclusivity for its advertisers. You don't want to be dumped in with an unlimited number of competitors. You also have to make sure your potential clients can find these secondary sites.

When looking into web advertising, ask the right questions. What is the setup fee? What costs are accrued for changes made, and how do they promote the website? One note of caution: Some sites will promote your business but charge you for potential clients who click on your site. If you are selling a business such as a franchise or distributorship, you'll be charged per lead that is forwarded to you. In either case, you're not guaranteed sales. Fees under these circumstances can equate to hundreds of dollars per week. Such an arrangement can quickly annihilate your budget.

When researching what's best for your business, don't be afraid to negotiate rates, barter, see samples of the work and get references. A good buy will be well worth the investment.