the advertising department for a large corporation, marketing your business and
your products is crucial to increased sales and brand reputation.
However, just like any other action in the
business world, advertising and marketing one’s company requires a significant
amount of time and money. So how can you tell if your marketing methods actually
The return on your marketing efforts depends on
the nature of the marketing strategy itself. Do you know what exactly is being
measured as a return?
Small business marketing and advertising is aimed
to reach a wide audience with relatively little knowledge about the brand
itself. With traditional advertisement and marketing such as the running of an
advertisement, opening of a new location, or a promotional meeting or rally, it
is easier to count the number of increased potential consumers.
In social media marketing, several studies have found
that the effect of advertising can greatly differ depending on what the business
owner wants and needs out of his or her business. If the goal is to familiarize
a community with a product, service, or brand, Facebook likes, comments, tweets,
or e-mail responses can be counted to find the social media influence of
social media marketing.
Your Advertising (Marketing Impact) Effectiveness Number:
There are software programs available that help a business owner calculate the
reach they have with their social media marketing. This software gives
advertising influence a number, allowing the business owner to have a more
tangible and versatile, albeit not perfectly accurate, interpretation of a
business’s marketing impact.
What are some strategies you can use to reach a
wider audience, strengthen your brand, and generate more
How to Increase Advertising Effectiveness Number:
1. Be clear on what you’re trying to sell and why.
Define what you’re trying to sell. Who are you trying to sell to? Why are
you trying to sell the item? Why should customers buy from you? What separates
you from the competition? These questions must be answered before a successful
advertising campaign can be conducted.
Although they may be very easy questions to answer, losing sight of the
answers can cause an ad campaign to run astray, lose its focus, and become very
ineffective in reaching and persuading an audience. Having very clear,
unwavering answers to the basic questions will help the company carve out its
own niche in the business world. For example, if you have found that your
business consistently is not doing well relative to a competitor, although your
business offers unique products and services, it may be a good idea to revise
your marketing campaign.
2. The company must identify its potential audience and advertising
environment. The company must ensure that the ad campaign stays specific without
attempting to please everyone, or else the brand can begin to seem too generic
and uninteresting to the target audience. Be clear on your targeted
3. Convert your advertising from generic and vague goals to measurable
numbers. The social media reach formula is one way of doing this, but other
software can help a company actually analyze its true return on advertising
investment and influence. Vague goals can leave a company floundering as they
pursue ideals, but with business, which measures itself in numbers, these ideals
must be converted into some number before it can be related to the business’s
The numbers include e-mail responses on a website, tweets to a company Twitter, online review ratings, products sold, coupons redeemed, etc. At times, these numbers can provide slightly inaccurate representations of a company, but numbers will still help any business owner see and relate their position to a goal and figure out which actions increase that number and which cause it to decrease.
Figuring out what type of advertising works for your company can multiply your returns for, in many cases, a very low investment, so an ad campaign should always be revised and updated to ensure the company is taking the maximum advantage of its marketing capabilities.
Sara Collins is a writer for NerdWallet. She works to
help entrepreneurs make informed personal finance decisions on every subject,
from finding the lowest mortgage rates
to planning for retirement.