The Maketing Moment, Volume 5

In our first four weeks of The Marketing Moment, we have talked about:

1. Advertising without a goal or objective.
2. Having a small "presence" in a number of different mediums.
3. Placing ads instead of a campaign.

This week, we are up to 4 on our list of advertisers mistakes.

Treating mediums as a commodity. Whether it is print, radio, billboard, TV, you are buying an audience. If the medium has a huge audience, the price is higher. Supply and audience should drive the rate. If you only buy on rate, you may have lost the game before it started.

Most people do not go to a car dealer and expect to buy the top of the line products for the same price as an entry level model. However, there are a lot of advertisers who are all about price.

Of course, you need to get the best deal you can get. You need to be smart with your budget, you need to make sure that you can pay for what you buy. However, paying the lowest rate is usually not the best deal. Let me explain.

You advertise when you can't go see someone. You are hiring a salesman that can reach people you can't talk too. Regardless of the medium, you are buying an audience. Once you have a strong audience and you couple that with strong frequency and a motivating message, you will get results.

The more results a medium gets for advertiser, the higher the demand, the higher the demand, the higher the price of the advertising. The lower the results, the reverse is true. With that in mind, you need to ask yourself why the medium is so much cheaper than all the others. Usually, it is in direct correlation with the results.

I am not saying that there are not over priced mediums, there are and you need to be careful. I am saying, if someone is a whole lot cheaper than everyone else, be careful with your money. Good Luck.