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November 23, 2015

Strategic Advertising Planning

As owners/partners of multiple businesses (one of them being an advertising agency), we are often asked which kind of advertising is most effective. Our immediate response is: “What is your advertising strategy?” About that time, our clients’ eyes glaze over in confusion, and the obvious answer arises: “MORE BUSINESS!” We agree!

All of us want more business. Sometimes, that’s just a little more business because we are working within tight constraints of a managed growth pattern. Other times, we want as much “more” business as possible because business has slowed, and our profits are shrinking. No matter what kind of “more” we are all seeking, it’s important to be deliberate (even laser focused), in creating the right strategic advertising plan.

An advertising plan is a “to do” list, a guide to action. A strategic advertising plan differs from a “standard” or “tactical” plan in scope. A strategic plan is comprehensive, covering every aspect of an advertising program, from goals to measurement. We assist you in planning your strategy to a size that fits your budget and needs.

The 3 core parts of any advertising plan (which need to be written and understood) are:

  1. What do we want to accomplish? What are our objectives/goals?
  2. How will we reach these goals? What will we do, and what will it cost, to achieve our objectives? How do we maintain a cohesive approach to these goals? How do we keep a consistent message throughout the media to maximize our results?
  3. How do we measure results? How do we determine whether we have accomplished our objectives?

Over the course of the next few months, we will discuss various aspects of strategic advertising, and how following a distinct, direct course of action will help your business grow. Our priority is to support and empower you to bring your business to the next level. But first, there needs to be an admission of where you are currently. It’s been our experience that many businesses don’t have a plan. They may use multiple mediums like radio, print, web, and tv. However, they lack direction. Maybe they advertise sales or special events, but fail to brand their business.

If, like many others, you find yourself wondering what kind of advertising you’re really doing (and what it accomplishes), then we hope this (and future columns) helps answer some of those questions.

Our goal at M-Y Agency is to help your business reach maximum potential, which in turn will help our local economy and community thrive. Stay tuned for more Bright Ideas from M-Y Agency.

Russ Meder and Nate Yanez

M-Y Agency

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