The most common question we get when speaking with clients or potential new clients is “How much will (insert advertising opportunity) cost?” “How much will a billboard cost?” “How much does it cost to advertise on radio?” “How much does it cost to advertise on cable?”
Whichever advertising opportunity you’re inquiring about, the answer will most likely be…”it depends.” Let’s take billboards, for example. The cost of a billboard could range anywhere from $300/month to $12,000/month. The cost will depend on size, location, how many units you purchase, how long your commitment is, and which seller organization you purchase from. Complicated, right?
Furthermore, while it’s important to ensure that you’re staying within your budget, cost should not be your only concern. When you’re spending thousands of dollars per month on advertising, you are making an investment in the future of your business. In order to yield the best return on investment, your main concern should be cost effectiveness. Now your question might be “How is cost effectiveness determined?” Here are just a few of the many factors you might want to take into consideration:
- Demographics
- Psychographics
- Consumer Aperture
- Seasonality
- Dayparts
- Spot Length
- Size of Ad
- Market you’re Advertising in
- Content Integration Opportunities
- Directionality of Ad Placement
- Programs/Networks you’re Advertising with
- Zone Targeting
- Ratings
- GRPs
- Impressions
- Reach
- Frequency
- CPM
This can be a lot to think about if you’re handling your own media strategy on top of the day-to-day operations for your business. That’s where JS Media comes in. We do all this thinking for you so we can help you understand the cost effectiveness of various advertising opportunities. We enable you to make a fully-informed decision when determining where to invest your ad dollars.
