This checklist can help you get the best return on your investment of advertising dollars possible. Creating an effective ad campaign, whether it's for your child's lemonade stand or your own Fortune 500 corporation, is a process that requires a certain amount of research and creativity. Follow our advertising checklist to get more out of your company's advertising budget.
- Before you can run an ad you need to know what product or service you're going to advertise, and what price you're going to charge for it. You need to know what your competitors are charging for a similar product and how they're promoting it.
- You need to know who they're promoting that product to and what benefits and features they're focusing on to make that product attractive to their target audience. Once you've analyzed your competitors' ads the most important thing you need to do is compare that information to your own ad plan.
- If you offer a similar item or service at the same price, will you be able to make a profit? Because you certainly don't want to lower your price just to make sales if you're going to be losing money in the process.
- Is there something you can do to make your ad more attractive than your competitors' – perhaps a similar package of products but with a slightly different configuration?
- You also need to consider your advertising medium. Where will your ad be seen by as many members of your targeted audience as possible and how much will that advertising cost you? And when you figure in the cost of advertising, along with the reduction in the price of your product, will you still be making a profit in some way?
- One of the most important questions is how will this advertising expense affect your future sales?Are you using you ad campaign to attract new customers and future, more profitable business? And the most crucial thing you need to learn is how to write effective sales copy.