The question that both startups and established business owners ask is this; where can I advertise in California? The answer to this question depends on a number of things such as your target audience, the niche you serve, and the type of products or services you offer. Your advertising budget also has the biggest part to play. In this post, we will be taking a look at how to set a good advertising budget.
As you may already know, setting an advertising budget can be very challenging. Even so, it is an important aspect of any successful advertising campaign. Here are some steps you can take to set an advertising budget.
- Determine your business goals. Before you start setting an advertising budget, you have to determine your business goals. Consider what you want to achieve with your advertising campaign. Is your goal to increase brand awareness, generate leads, or increase sales?
- Identify your target audience: Now back to the question of where can I advertise in California, you have to identify your target audience and consider where they are most likely to see your advertising. If you are targeting the younger generation, for example, you will most likely find them on social media. For the older folks, you will have better luck with search engines, television, or print media. The key is to know where your audiences are before you start working on a campaign.
- Know what your competitors are doing: There is no need to reinvent the wheel. To find the best places to advertise, you need to do some research on your competitors and their advertising strategies. Doing so will give you an idea of what is working in your industry and how much they are spending on advertising.
Now that you have a clear understanding of your goals, target audience, and competitors, you can go ahead and set a budget. When doing this, it is imperative that you take the time to consider how much you can realistically afford to spend on advertising while still achieving your goals. Most advertising agencies will recommend that you allocate a percentage of your revenue towards advertising, typically between 2-5%.
Even with an advertising budget in hand, it is good to note that you will have to keep monitor and adjusting your strategy. All this will cost more money. Ensure that you factor in the cost of monitoring and adjustments. More money should be allocated to the advertising channels that yield the best results.