Listed below are several factors that can influence advertising costs. These factors include Season, Demographics, and Time of Day. Keep these in mind as you develop your advertising strategy. Also, remember to consider your target customers to help make your advertising message relevant to your target audience. In addition, keep in mind the time of year you plan to advertise. Advertising during these times can save you a considerable amount of money. Then, you can decide which ads to run during certain hours of the day to maximize your return on investment.
Time of day affects advertising costs
The cost of advertising differs on weekdays and weekends. During the week, people are more likely to search for and view ads. Weekend activity is typically less than weekdays. While the exceptions include real estate, automotive and fitness and recreation, most industries benefit from ad playtime during the week. However, in some industries, it is best to advertise during the weekend for the same reason as weekdays: a more consistent audience.
Unlike most media, television advertising costs are highest during the day. Advertising during the day tends to be more expensive due to fewer viewers and TV ratings. On the other hand, ads during peak times can attract large audiences and command higher advertising costs. While daytime hours are considered prime real estate for branding, they are also less cost-effective. Because of this, advertisers should make sure to schedule their ads for those hours.
Season
During the course of the year, advertisers’ spending patterns fluctuate, and the same goes for their advertising costs. The building and construction industry, for example, has experienced a sudden drop in demand and the loss of prospective clients. PPC campaigns have been affected as well, with conversion rates down only modestly and a 13% drop in search traffic. For the publisher, this dip in Q4 is especially frustrating. But there are several things you can do to avoid falling victim to seasonal advertising costs.
One way to keep advertising costs down is to only invest in advertisements during peak seasons. Many companies target their advertising during their busy season, which is December and January. In this way, they can reach a larger audience and expand their brand awareness. However, limiting your in-season marketing efforts may be counterproductive if your goal is to attract non-seasonal customers throughout the year. Instead, make the most of the opportunities presented by the slow season and recalculate your advertising budget for the busy times of the year.
Demographics
You can segment your customers based on their gender, age, income, or other attributes. This information can be invaluable in determining your target market and creating effective advertising strategies. Demographics are often available through government censuses, which make the process of marketing to a specific group much easier. Moreover, knowing your target market can help you create marketing strategies that are more relevant to your audience and minimize your marketing budget. Here are some tips to help you decide what kind of demographics are most suitable for your business.
Demographics are extremely important to businesses today. Knowing your target audience’s age, income, gender, education, and other characteristics allows you to tailor your efforts to suit their preferences and needs. You can even use the information collected by conducting market research surveys. You can send these surveys to potential customers via email, phone, or face-to-face meetings. Post-sale feedback forms also often include demographic questions to learn more about your customers.
Industry
Many industries spend more money on advertising than others. Why is this? The answer is largely based on the product or service. Some industries, such as pharmaceuticals, constantly release new products, which require continual marketing to raise public awareness and drive sales. Others, such as automobiles, only need to remind customers periodically of their benefits. In general, industries that spend more on advertising have shorter life cycles than those that have long-lived products.
Did you miss our previous article…
https://addisplaynetwork.com/online-advertising-strategies/what-is-a-heat-map-in-business/
