A recent article in Media Sales Today
confirms that advertising spending increased so far in 2011 and is expected to grow even more over the rest of the year. As a result, there are multiple implications for you as a business owner or manager.
First, you are likely to see increased advertising by your competitors. As a result, you may need to increase your own advertising or modify your current advertising to differentiate yourself from the competition, or risk losing business.
Second, as available ad space is bought up, media owners will increase rates. You may be able to lock in a lower price now than you can get a few months from now.
Third, if your advertising leans heavily toward the more expensive formats such as TV, newspaper, and magazines, you may be able to increase the efficiency of your campaign by moving just some of your budget to less expensive media such as billboards, transit, and truckside advertising.
Keeping a close eye on your competitors and making informed, logical decisions about your own advertising can go a long way toward improving your profitability!