Friends have said that I have a talent for getting more value for what things are worth. I get compliments on clothes and even if I try to “zip it” I can’t help but share that I got them on sale. I am a bargain shopper and live and breathe it. I feel a great sense of accomplishment when I stretch that hard-earned dollar to it’s fullest and I feel the same exact way when we manage our clients’ media budgets.
A great media campaign starts with good questions. One question I’ve had to answer a few times is, “Is my budget too small?” The answer isn’t cut and dry, it ultimately depends on your goal.
A lot of factors come in to play to recommend the best use of a client’s advertising budget such as objective, medium, flight, creative, outlets, placements and such. Clients may focus on impressions and awareness versus a hard CPO. Are we on air for a week or a few months? Are we running pre-roll versus static banners online? Are we buying rotators or program specific placements? These are the questions to consider.
We’ve been challenged several times with smaller budgets. One recent client requested a small plan and had just $5k to work with. For that particular brand, our agency was successful delivering enough impressions and buzz via social marketing. The client was satisfied with the impact it made. By doing some link building, blogging, and SEM we were able to move the needle at a lower budget. The strategy obviously took into consideration the brand and all available choices — at that budget level. In the end, it all comes down to choices and best use of those precious dollars.
Industry veterans always thought that TV would require a lot of zeros to be able to run a national campaign. Our agency has proven that we can provide cost efficient solutions that can stretch their media budgets.
Radio continues to be a frequency medium. Our team has put together opportunistic programs in radio and clients keep on coming back for more. Non-traditional media can be cost efficient with the right solutions, as well. Having great relationships with vendors also allows us to come in at lower budgets. Nowadays, online targeting is so advanced that we can reach people who purchased a similar product recently. The power of technology. Eliminating waste allows advertisers to utilize limited resources to their full capacity.
While budget is a key factor in how our media strategists put together proposals, most important is having an understanding of a client’s objective and recommending the best use of their resources. At the end of the day, it does not matter whether you have a few thousand dollars to spend or millions, but whether your advertising agency can recommend the best strategy and approach to utilize your resources.