The amount of money spent each year on advertising is an astonishing amount. The website statista estimates that in 2017 businesses like yours will contribute to a total advertising spend of over $206 billion dollars. In 2018 the estimate is over $220 billion dollars.
Certainly some of that money is being spent in high-dollar advertising venues such as the Super Bowl television broadcast where in 2015 advertisers forked out $350 million dollars. However, most of the nation’s advertising budget was spent in regular day to day advertising campaigns.
$206 billion dollars of advertising money; mostly wasted.
Worse still is that the great majority of these businesses don’t have the money to waste on advertising. If you own one of the nearly 28 million small businesses in the United States, you know this to be true. Month after month, week after week advertising representatives walk through your door trying to get you to spend money on advertising.
No doubt you’ve spent money on several if not all of the following:
- Yellow Pages
- Local broadcast or newspaper websites
- Sports Broadcasts
- Sports boosters
- Chamber of Commerce brochures
- Search Engine Optimization
- Vehicle graphics
- Clothing (T-Shirts, Jackets, Caps, etc)
- Sides of busses
- Live radio broadcasts
- Door hangers
- Distributing flyers
- Roadside Brand Ambassador
- Video sharing (Youtube, Vimeo, etc)
- Post cards
- Parking meters
- Taxi boards
- Grocery shopping carts
- Community bulletin boards
- Movie theater coming attractions
- Weekly newspaper shoppers
There are certainly more methods of advertising and eventually advertising sales representative will walk through your office door attempting to entice, convince or guilt you into spending money with them.
Why You’ve Bought Advertising In The Past
Most of the businesses we’ve worked with have previously spent their advertising dollars for reasons that can be mostly chalked up to guesswork and hopefulness. Here are some of my favorites:
- “I’m friendly with the person who runs the radio station.”
- “My rep has been with the newspaper forever he/she knows what works.”
- “I need to support the local businesses, so I advertise locally.”
- “It’s a special sale, so we need to advertise.”
- “We need to get our name out there.”
Sadly, a great amount of the $206 billion dollars being spent on advertising leaves the business owner hoping that their advertising campaign is success.
This article continues here.