Do Business Well

Expenditure on advertising etc is very often simply a matter of personal judgement. You can argue for more expenditure; you can argue for less expenditure. You can argue that the recent advertising spree has resulted in more sales; you can argue that greater advertising would have increased sales even further. The advertising budget is a subjective decision, but the publicity and advertising staff are certainly capable of achieving high spending levels.

1. Keep a special watch on the big spenders in the camp

If your company has a big spender, he could well be in the publicity department. It may not be his fault, however, because he is often under pressure from all sides to improve the company’s image. Because of this pressure the publicity budget is often overspent, so a firm resolve to keep within budget is needed.

2. Spend less on advertising in slack times

Some people spend more money on advertising when business is slack in the hope that it will create a greater demand. First, find out why you are slack. Is it because the overall market is lower but nevertheless you are maintaining your market share, or is it because your competitors are outperforming you? Before you advertise more, put your house in order.

3. Take advantage of local events to obtain local publicity

Try sponsoring a major local event in the area concerned, such as a carnival, sports event or charity effort using uniforms, posters, programmes, acknowledgements on the public address system etc. This gets your products and name in the public eye.

4. Send regular editorial matter to the trade and technical press

Editorial matter sometimes makes more impact on the reader than an advertisement. There are often so many advertisements in a magazine or publication that few readers will notice yours. This results in the advertisers trying to out- advertise each other, which may be good business for the publication but is it any good for you? Come up with lots of good stories for the press.

5. Have an open day for the press

Just occasionally you may have the opportunity to invite the press to your open day — perhaps for the launch of a new product or for your company’s centenary or a major export order. Make a good day of it: invite as many people as possible to attend and give them personal attention. You’re bound to get a write-up (usually a quote from your well prepared press hand-out) as the journalists have to report on their day out — and in any case you’ve had a good story to tell.

6. Circulate press cuttings on your company to your customers and sales staff

The exercise isn’t over when you’ve got a story in print. Everyone is impressed with printed matter about someone they know and it will boost the confidence of your sales staff and customers. Your employees and suppliers will also be impressed — they’re important too.

7. Spend less on each advert

It is not always the most expensive, full colour, double-page advertisement that makes the best impression. See how much cheaper a smaller and less frequent advertisement would be. People are sometimes very vulnerable in front of an advertising agent and the company may become committed to a major advertising splash for the wrong reason.

8. Negotiate advertising rates

Perhaps your buying office can help you to get better rates. They are used to hard bargaining.

9. Reuse existing artwork

Artwork is very expensive and money can be saved by a rerun of previous advertisements. Keep your artwork safe.

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