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Stretch your media budget
The headlines are full of the dreaded R-word…recession. The temptation (or perhaps the mandate) to slash marketing budgets is all around. But do you take your foot off the gas going up hill? Better to downshift and create more torque. In Marketing in a Recession: Beyond the Obvious by Chris Koch, one of the recommendations is to maximize your vertical marketing strategy. Why? Because some verticals will be more ‘recession-proof’ than others. For example, the aging baby boomers mean that healthcare is thriving—and pretty much guaranteed to do so for a long time. Vertical (some call it niche) marketing is one of the key areas where audited media can help you optimize the effectiveness of your media budget. Audited circulation statements allow you to compare apples with apples when deciding between a bunch of similar publications. For example, Magazine A and Magazine B compete in the same market and both feature excellent editorial content and production quality. Both have a 100,000 circulation, and the cost to buy a page of advertising space is identical at $5,000. Your product is of interest to some of the people who read both Magazine A and Magazine B. Audited circulation statements identify the exact number of readers who are specifically of interest to you. Let’s say, people in the Hospital/Health Services industry and even more specifically, let’s say you are really trying to reach Palliative Care Nurses. If Magazine A has 10,000 Palliative Care Nurses receiving their magazine, and Magazine B has 50,000, your choice is easy. So maximize your media budget ROI by doing your homework and making informed buying decisions, and you can take a recession in stride.

External link: Bettermanagement.com

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