Advertising Budget Consultation

For years the trade publication “Ad Age” published information regarding the average advertising budget by industry category. It was an interesting survey, particularly for those of us engaged in marketing. At best, it was just an average. However; companies and advertising agencies used this valuable information as a benchmark to set budgets for advertising expenditures.

Today, many media companies subscribe to services that monitor how much a prospective client is spending in a specific media like radio or television broadcasting. This is a very expensive service. But for media sales managers it helps target advertising prospects for their sales people. Although interesting and informative it is not cost-effective for most advertisers to subscribe to such a service.

Determining how much to budget for advertising and marketing is a complex task. You need to answer some basic yet soul-searching questions.

For example:

How has the industry changed in the past few years?
Is the business growing?
Who are the leaders in the industry?
How do they obtain most of their business?
Can we change the way we do business?
Are we using the internet efficiently for our business model?
How can we reach new customers more effectively?
Should we put a three year plan together?

The answers to these questions and many more can help determine how much money you need to budget when you want to increase your market share. Putting more dollars in the ad budget will never guarantee more business. Strategically reviewing your current advertising budget will help give you a better picture of where you stand and what needs to be done in the short and long term. We think of this idea as a second opinion.

At the AvizaGroup we can field a team to:

Review your current program
Suggest ideas to improve it
Develop a plan of action to implement.

To learn more about how AvizaGroup can be a valuable marketing partner for your business:
email John.h@AvizaGroup.com or call John @ 908 303-4440.

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