What are the factors we need to consider, while advertising in competitive market?
Some of the important factors which must be kept in mind while Advertising are:
Message: Communication is very important. You need to understand the language which your TG will understand. Not all brands have the liberty to be too metaphorical in their campaigns.
Placement: The media which you select is as important as the message. Remember now is the age of 360-degree advertising. How can you reach your TG in max? different ways optimally within your budget are something that is very crucial. But it’s also a fact that there is no textbook rule for this. The formula differs from brand to brand and time to time & place to place for the same brand as well.
Time: Advertising at the correct time is also crucial in today’s busy world. By the time, time of the year, month, week, and day all are crucial!!!
Graphics: Your graphics are very crucial. The design language of your advertisement should be one. Minimalism is today’s trend.
Analytics: This gets difficult when we go for 360-degree campaigns but still it is important to keep a track of how your ads are performing. This will help you to improvise your upcoming campaigns and use your budget most optimally.
“Half the money we spend on advertising is wasted. But the problem is we do not know which Half!” - Lord Leverhulme
So stick to trial and error. Experiment and analyze and decide.