Can I Make Cross Media Marketing Cost Effective?
Since the cost of large-scale radio, television and print advertising is out of reach financially for many small businesses, you might have given up hope on ever being able to afford an effective cross-media marketing campaign. Plus, advertising via social media and your website is quick, easy and inexpensive, which is why it’s so easy to get stuck in the digital advertising rut and stay there. If you’ve been wanting to break out into other forms of advertising in addition to digital advertising, but don’t think you can afford it, consider this.
The number one factor that determines whether or not your marketing campaign is worth the dough you’ve invested is your return on investment. The more people that you can turn into customers with your campaign, the greater your ROI will be. To boost your ROI, be sure to put your advertising dollars where they will have the most effect by tailoring your campaign to your market. ROI can also be boosted by limiting your investment to only relevant and cost-effective communication mediums that you’re confident will be reach your target audience.
For example, instead of sending out mailers to everyone in your community, do some research so you can send mailers out to residents who will be most interested in your services. Also, purchase advertising space in relevant publications to your target audience and don’t spend unnecessary money “just to get word out.” Make sure your communications and targeted and relevant.
Keep in mind that it’s not so much about how much advertising you’re doing as it is about when and where you’re doing it. Five thousand brochures given to the wrong people will do little for your business. However, if you hand those brochures out at a community event where attendees are interested in your products and services, you will gain new customers.
Narrowing your audience allows you to spend less money on advertising while improving your ROI, which will make your cross-media campaign much more cost effective.
