We recently shared the differences between marketing and advertising, and highlighted the importance of fostering a strong brand and advertising in the watering holes of your target audience. You are looking to find people where they are and where they want to be. But after defining the specific mediums your customers use, how do you know how to prioritize? And how should reach vs. spend factor in to your budget?
We’ve created this downloadable infographic that highlights five of the most popular forms of advertising: Internet, Out of Home, Radio, Newspaper, and Television. It shares the Median CPM (which stands for “Cost per 1,000 impressions”) – a measurement of how much money it costs you to reach 1,000 readers, viewers, visitors, or listeners. The Median CPM is just one factor though. You must also review Reach Statistics across each type of media – to see who is using the medium and how often.
This is one of the most electronically trackable methods. Advertisers can track which personal computer was exposed, which clicked through an ad, and various routes taken during an online session. But clutter is a major problem for online advertisers, and CPMs rates jump up quickly for ads that are intrusive or highly-targeted.
Out of Home
Billboards, Signage on Transit Vehicles, Cinemas, Stadiums and Shopping Malls. This media is constantly visible – but needs to come in contact with your target consumer. Exposure time is brief (generally between 4 and 8 seconds), and creative can easily be damaged by exposure or vandalism.
Newspaper has seen a strong decline in readership and circulation over the past decade – as more and more people take to electronic forms of media to stay up-to-date with the latest news. But newspapers have tried to lessen the blow by introducing electronic versions of the daily which opens up mixed-media advertising options for businesses.
It's the most expensive form of media featured, because of the costs associated with commercial production, and the air time chosen for the spot. Audience share is generally declining, and increased use of social media (in conjunction with television viewing) diminishes the attention span during scheduled advertisements. But local TV stations typically offer community sponsorships and location-based opportunities to drive traffic to retail locations.
Radio is known for its affordability – allowing you to add impact to your brand messaging through repetition. It’s known for its immediacy; you can buy, record, and air more quickly than other medium. And radio station’s branded promotions offer advertisers appealing community involvement opportunities – one more way to build your brand in your community.
Regardless of the method, it’s important to analyze your options and really understand what is best for your customer, your brand, your products and services. Most companies find that using multiple methods of advertising (if your budget allows), is the best way to reach the most people. We can help you find the listeners you want to reach with your brand.