Question

How could we set the advertising budget?

How could we create good advertising message?

Answer 1

Advertising is an essential expense for any company. Determining how much you need to spend on a yearly basis can be difficult, particularly if you have a new company or you are exploring new advertising avenues. There are several means to determine how much money you should be spending on your ad budget. Keep in mind that as your advertising becomes more effective and more revenue is produced, you may need to revisit your budget to continue to foster growth within your company.

1. Find out where and how your competitors are advertising. If you want to remain competitive within your industry, quite often your competitors will determine how much you spend on your advertising budget. See if they are using print, radio, Internet and direct mail, and then gauge how much money they are spending.

2. Set a fixed-price advertising budget if your business is established. Many companies find it easier to take a set portion of their sales revenue, typically between 2 and 5 percent, and put it aside for future advertising. If your company is new and does not yet have a strong revenue stream, avoid this method.

3. Explore new avenues to determine effectiveness. To help determine how much money to spend on an ad campaign, test the waters before diving in. Pay-per-click and results-based marketing are prime examples of this technique. Set a small initial budget for advertising and then increase it as necessary.

2.. We have many way to create a good advertising message:  

1. The SWOT analysis of the product and the company

Before analyzing how to create an advertisement that converts into great results, you should start by performing a thorough analysis of the strengths, weaknesses, opportunities, and threats for both, the company and the product that is to be advertised.

2. Set up your main objectives

What is the purpose of your advertising campaign? What are your main objectives? Are your goals feasible or not? You should also perform an analysis of these questions and answer them with the utmost sincerity.

Based on what you set up here, you can go further to the next step and start your research.

3. Research the market, the competition, your audience

You cannot consider yourself ready to make an advertisement without conducting a proper research on some important factors you campaign depends on.

For instance, it’s important to know the market and its behavior. Study how things have changed over the past few months and what professionals are predicting for the near future as well.

4. Identify your target audience

Who is more likely to buy your products or services? Responding to this question is yet another important step in setting up your advertising campaign. Should you want to be successful at designing an appealing advertisement, you need to know to whom you are addressing it.