Business, Investment, & Insurance Forum
Advertising Budget: A Simple Guide - Printable Version

+- Business, Investment, & Insurance Forum (https://investmentforums.net)
+-- Forum: Business Forums (https://investmentforums.net/forumdisplay.php?fid=5)
+--- Forum: Business Management and Marketing (https://investmentforums.net/forumdisplay.php?fid=21)
+--- Thread: Advertising Budget: A Simple Guide (/showthread.php?tid=784)

Advertising Budget: A Simple Guide - InvestmentGuru - 01-28-2024

Before diving into an advertising campaign, grasp a fundamental concept – advertising works as an accelerator, not an initiator. But what does that really mean?
Advertising takes something you already have – your product, service, or offer – and puts it in front of more people to boost your earnings. However, it can't magically turn a new, unproven offer into a bestseller. Simply pouring in money doesn't guarantee huge sales. Plus, when you hit pause on advertising, the money-making engine often sputters to a stop.
The key is a blend of paid media, earned media, shared media, and owned media. Let's break it down:
  1. Paid Media: This is where you run your ads. It's the platform you invest in to get your message out there.
  2. Earned Media: Think of this as your personal network and the relationships you build with customers through excellent service and goodwill. It's the trust you've earned.
  3. Shared Media: This revolves around the community you create. It's about engaging and building connections within your audience.
  4. Owned Media: Your blog, email list, and other platforms you control fall into this category. It's the space you own and operate.
By balancing these media types, you create a well-rounded approach that goes beyond just throwing money at ads. It's about fostering relationships, building trust, and having a solid presence across various channels. This way, your advertising budget becomes a strategic investment rather than a potential burnout.

RE: Advertising Budget: A Simple Guide - Bizdustry - 04-13-2024

Great guide. Thank you for sharing. Don’t forget about free marketing, but this of course won’t be as good as paid advertising. There are free methods, including starting your own social media presence, asking customer reviews to enhancing your SEO strategy.