Marketing campaigns in each business are different for many reasons, but the most common reason is still the size of the budget. The tight budget requires that businesses have appropriate marketing campaigns and cannot go big like multinational corporations.
First of all, it must be affirmed that no marketing budget is redundant. Marketing budgets are always estimated. If your opponent spends a lot, even if you spend a lot, it will still feel like a little. On the other hand, if you encounter an opponent who doesn't spend anything, having a little bit to spend is already a lot. Marketers, whether in charge of big or small brands, always have the feeling of "pushing back and forth".
The better person is the one who knows how to plan how to spend his "little" money better. That means making every dollar spent on marketing more effective in building a brand than the value of its spending. If so, even little money will become a lot.
Below are 10 tips for making good use of your marketing budget in branding.
1. Focus on prioritizing spending on the "core" consumer group: first, think a lot, not about the target consumer group but going deeply into the "core" consumer group of the product.
For this group of customers, do not engage in extensive communication but must communicate deeply and boldly to make an impact. Please carefully study the communication habits of this group of people to find ways to bring your message to them in a newer way, with less money than traditional channels such as television, newspapers and radio...
For example, if your target consumer group is office workers, posting ads in newspapers is correct but not focused. We can use this channel in the early stages of introducing products and services, but in the long term, Internet communication channels, trade fairs, seminars, customer conferences... have great communication value and reminders. Good, not too expensive but flexible and if you organize it well, it will be more impressive.
2. Once it has been determined that this marketing expense is necessary, the business must pay it in full. Only then will it be effective. At least it's a disaster!
This is paradoxical, but it is true. When using media, it is necessary to calculate the full amount of interaction frequency to have an impact on forming consumption intention. There are cases where marketers think they should spend "thinly" at first to explore and then slowly move forward. Doing so is like prolonging the meal from noon to afternoon but always being lacking and hungry.
I think that powerful, fast media will make consumers "full" of information, will want to try it out and that will have a good effect.
3. Once you have an impact, you must immediately think about maintaining consumers' full energy towards the brand. Don't let consumer enthusiasm falter.
4. The message must be unique, different and, if necessary, a little "shocking". Experience shows that a message as bland as snail juice, mixed in with countless advertisements on television or in newspapers, will not attract attention. At that time, the company had to spend a lot of money but the efficiency was not much.
5. Avoid spending at times when there are big events that attract all the public's attention. If you know that you can't pull them away from the hot concerns right now, then why waste money on advertising when people aren't paying attention.
For example, around the time of Tet, that's when confectionery, beer, alcohol, and soft drink companies turn up the volume to the maximum. What is the purpose of shampoo, sanitary napkins, life insurance products, etc. advertising? Find your season to advertise effectively. This depends on the marketer's acumen.
6. Launching an advertising program, or activating it in any area or region, you must immediately make a sales plan for that entire area.
For example, when broadcasting on a television channel, there must be a sales plan for the entire coverage area of the station. Information about advertising broadcast support must be communicated to all sales staff, as well as to wholesale and retail store owners so they can focus on importing goods for sale and display.
7. There needs to be a clear marketing strategy, with a specific action plan as well as expected sales. During operations, if you encounter obstacles, such as sales not meeting expectations, you need to quickly find the cause to have an adaptive action program.
Be careful to avoid doing the first step and then thinking about the next step, or just launching ads and passively waiting to see how much sales will be.
8. One of the principles we need to remember is: "If it's right, you won't regret spending any amount of money, but if it's not right, no matter how cheap it is, don't spend it."
9. Focus your advertising on areas with many consumers of your products. For example, motion sickness medicine must be posted on advertising boards near train stations and bus stops and must be displayed at pharmacies around that area. Or for eye tonic products to prevent refractive errors (myopia), there must be a program to display and promote the brand around the school gate, or near the eye hospital...
10. Must know how to connect with brands that have the same target consumer group and similar level of brand value, to organize mutual promotions. Through this combination, both sides benefit. If you are a brand that makes promotional gifts, you can both sell products and penetrate the consumer audience of the promotional brand.
On the contrary, because buying in large quantities and providing the opportunity to penetrate new consumer groups for the partner, you must definitely negotiate for the best price.
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