Advertising is a business of words, but advertising agencies are infested with men and women who cannot write. They cannot write advertisements, and they cannot write plans. They are helpless as deaf mutes on the stage of the Metropolitan Opera. Did you know that much of the advertising you see and hear is created by ad agencies not to help marketers sell their products and services, but to entertain and impress others in the advertising profession?
Big agencies talk about creativity and all the awards they've received. The problem is awards are no substitute for results. Agencies aren't the only culprits. If you're like most business owners, you're swarmed every day by "marketing consultants" from Lexington radio & TV stations, newspapers, billboard companies, yellow pages, etc. And they all claim to be #1 in something whether it be listeners, readers, viewers, whatever.
But most media sales reps are only good for one thing. Selling. It's not their fault. They're under constant pressure to hit their monthly quota.
Big agencies talk about creativity and all the awards they've received. The problem is awards are no substitute for results. Agencies aren't the only culprits. If you're like most business owners, you're swarmed every day by "marketing consultants" from Lexington radio & TV stations, newspapers, billboard companies, yellow pages, etc. And they all claim to be #1 in something whether it be listeners, readers, viewers, whatever.
But most media sales reps are only good for one thing. Selling. It's not their fault. They're under constant pressure to hit their monthly quota.
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Prior to launching this agency, I sold advertising for six years here in Lexington, KY.
In that time, I felt the frustration of business owners fighting to succeed in a highly competitive environment.
I could relate to them because of my own situation.
I was one of 20 sales reps just in my company, not counting the dozens of other advertising reps in town.
It was cutthroat!
I knew that if I was going to succeed in advertising, I had to learn how to make it work!
So many business owners are frustrated to the point of giving up on advertising.
In that time, I felt the frustration of business owners fighting to succeed in a highly competitive environment.
I could relate to them because of my own situation.
I was one of 20 sales reps just in my company, not counting the dozens of other advertising reps in town.
It was cutthroat!
I knew that if I was going to succeed in advertising, I had to learn how to make it work!
So many business owners are frustrated to the point of giving up on advertising.
There are 3 key elements to consider when planning your ad budget: projected annual sales, average markup (not margin!), and cost of occupancy (rent, mortgage, etc.).
Your ad budget and your rent combine for what is called Total Cost of Exposure (TCE).
A solid strategy is to budget 10%-12% of your projected annual sales for TCE.
If you've been in business less than a year, this can be tricky.
Just use your best estimate.
The idea is to project growth in your sales over the next 12 months, not to "play it safe" by using your sales from last year.
Your ad budget and your rent combine for what is called Total Cost of Exposure (TCE).
A solid strategy is to budget 10%-12% of your projected annual sales for TCE.
If you've been in business less than a year, this can be tricky.
Just use your best estimate.
The idea is to project growth in your sales over the next 12 months, not to "play it safe" by using your sales from last year.
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