How To Sharpen Your Ad Budget?!
Advertising in the modern era is a tricky proposition, as it's far too easy to work against your own best interests under the guise of saving a few dollars. It's a trap that small business owners in particular often fall into. Spending $50 over here and $150 over there may seem like you're getting a good idea initially, but before you know it you're spending thousands of dollars each month on sponsorships, calendar and grocery cart ads and more - all in a way that you can't actually measure, quantify or show return on investment for.
If you truly want to focus and sharpen your ad budget, there are a few key things to keep in mind.
The first thing you need to understand about focusing and sharpening your ad budget is the larger context that surrounds your business. There is NO "one size fits all" approach to this - you might follow the ad strategy of your closest competitor to a "T" and still not get the results you need because you're running a very, very different organization.
Stop trying to mimic what other people are doing under the assumption you're guaranteed the same results. Only by playing to the strength of the business you're actually running (and the unique audience it caters to) will you be able to make the most informed decisions possible.
Purpose-Driven Ad Buying
Perhaps the most critical thing to understand about focusing your ad budget is that you need to give yourself something to focus against. While it's true that all businesses need to advertise, your long-term goals need to be more specific than that. Are you trying to generate X number of new leads by the end of the year? Do you want to increase sales by Y percent by the end of the current quarter?
If you give yourself a specific goal to work towards, you can then start making the types of advertising decisions that will help get you there. You can plainly see "this ad over here moved me closer to my goal, while that ad over there ultimately didn't generate any traction." At that point, it also becomes easier to see both what is working and what either needs to be abandoned in favor of another technique or finessed until you get it where it needs to be.