Just got a call from an old client advising me that they needed an ad for a local pub resized... The client is a Realtor trying to sell a specific home. The pub that they signed up for goes to some 1,700 people who already own their homes in the same market. The price of insertion for a quarter page ad was over $400.
Was that a wise decision?
It turns out the only question my client asked was how much the ad cost to run... which makes me ponder if a lot of other agents and brokers tend to rely on the sweetness of a sales rep as opposed to numbers for the ad venues that they are considering. So, in the spirit of sharing and good samaritanship, here is a list of questions that you NEED to ask, before you sign a contract, even if a sales rep is your best friend!!!
1) What is your target audience/demographics?
2) What is your print run (per issue)? Note: it is imperative in markets like Florida and quite possibly others that are oversaturated with all kinds of pubs that you get a phone number and contact name for the press that the publication uses, or a copy of their last print run receipt!
3) What is your distribution? Note: there is a difference between print run and distribution. It is more expensive to mail 10K copies of anything that it is to print the same number, so a company can easily print 40K copies of a magazine and put 30K copies of it in the trash, all the way charging you for an ad as if they distribute 40K copies. This is particularly true for venues that use mostly outside distribution locations, like convenience stores, hotels, etc. Generally speaking an advertising venue has to rely on third party provider to perform the distribution services, so you can, once again, ask for a receipt. Dumping thousands of copies in the trash method of doing business is practiced far more often than people realize!
4) If the distribution method involves mailing any number of copies, you have to ask how many are mailed, and request a receipt from the last mailing. Any honest venue will gladly provide you with that information.
5) Last, but not least, ask what the price per insertion is and what discounts if any you will get if you sign a contract. Take that amount and divide it by the number of people in your target audience that the ad venue will be distributed to.
Note: do this for every single publication, as well as Radio advertising, Banner and Billboards or anything else you are spending money on.
Lastly, use common sense when placing your ads. Don't rely on the savvy sales person's ability to think for you about your goals and targets. Their job is to sell you the space! Hire a consultant to do that if you can't target your campaigns on your own. Free ad layout services offered by most publications are not the same as ad design services, they are simply doing what they have to do to get you in their pub, so keep this in mind. Think about what you want to accomplish with any particular ad (i.e. sell a home, get a listing, introduce a new loan service, sell new construction to an outside market, etc.), and make your media buying decision based on all of these factors. You will be amazed at the results, and it will save you money.
:-)
PS: If you have any specific questions about your campaigns/ad strategies, feel free to contact me, and I will be glad to help in any way I can!
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