How much should I spend on marketing? How do you make a post go viral? Should I buy an ad in the Super Bowl?
As marketers, we get asked a lot of questions. And a lot of times our answer is “that depends,” which we realize is probably not helpful. But there are a lot of things to consider when engaging in marketing endeavors, and no two clients are the same!
In this blog series, we intend to expound on why exactly “it depends,” and give some slightly more helpful answers to our most frequently asked questions. (Part 1 of this series is linked here: Brand Marketing)
This week: Advertising FAQs:
Q: If I spend $xxx on advertising, what will my ROI be?
A: This answer is different for every client and depends on a variety of factors. It’s often best to work toward an ROI goal so that your advertising mix can be optimized to deliver to that goal. Once that is established, there’s a lot of information that we can track on our own—leads, clicks, impressions delivered, campaign performance, etc. But to calculate true ROI, as in final value as a percent of the initial value, we’ll likely need you, our client’s, partnership in helping us track revenue through your sales tracking system.
Q: How long until I start to see results from my advertising campaign?
A: Generally, we can provide analyses of your media campaign’s performance after gathering 30 days’ worth of data. In terms of business or sales results, the timeframe to see results will vary based on your industry, seasonality, the sales cycle of your product, brand awareness, presence or type of promotion/offer, etc.
Q: Should I go 100% digital advertising?
A: Maybe! But also, maybe not. Digital advertising is a wonderful tool because of its targetability, trackability and cost-efficiency. And there are many different types of digital tactics to achieve different goals! But there are a myriad of advertising options out there. The great thing about working with us is that we will research and plan to find the most optimal media mix for your specific goals! (But, for frame of reference, about 50%–60% of clients that advertise with us are doing so with 100% digital campaigns.)
Q: I want to buy billboards/radio ads/TV ads/digital ads. How much does that cost?
A: We can definitely answer that for you. But what we’d rather do is give you a cohesive, holistic solution to your marketing challenges. Usually (let’s be honest, almost always) one tactic alone isn’t enough to solve a problem. It will take a variety of tactics—both advertising and other marketing tactics —to solve your marketing challenges. Looking at the overall objective, we’ll develop the plan that’s right for you.
Q: Should I buy an ad in the Super Bowl?
A: Nine times out of ten, no. Unless you’re Budweiser or Doritos, then yes.