It is my great pleasure to introduce you to my very first guest blogger! Meet Cindy Augustine, owner of Kazoo Marketing. Cindy is a Strategic Media Planner/Buyer, with over 10 years experience in the industry. She has assisted clients with their paid media campaigns from coast to coast, and works with all mediums, including traditional and online.
Additionally, Cindy is the president of The Freelance Exchange of Kansas City, THE resource for marketing, advertising, copyrighting, photography, printing, and most other disciplines of freelance talent for the entire metro area.
I asked her to write about how there has never, ever been a better time to advertise – that may seem counter-intuitive, because in a down economy one of the first things businesses do is to stop or cut back on their advertising budgets. WRONG!! Listen to what Cindy has to say:
“You don’t have to go far to hear the economy doom and gloom, and for those of us in advertising, it isn’t much different. Some recent stats I have read in the last day alone:
• Time Warner experienced a 34% decline in 2Q profits.
• Television spending as a whole is down 17%.
• Currently, the Boston Globe is losing $1 million dollars a week.
• Radio revenues are expected to fall 15% in 2009.
But in those dark clouds, there are some silver linings. As someone who assists clients every day with their paid advertising, I can attest, there are some great deals to be had out there. Now IS the time to advertise, not only because it will help you outlast your competition, but because you can get more for your money.
What should you look for when negotiating your next campaign? Well, to be honest, it will vary from medium to medium, but here are some things to plan for:
• Look at what you were paying previously, and ask for a 10%-20% price decrease.
• If you were in the habit of buying broad rotators in broadcast, negotiate better placement within programming that is chosen specifically for your target audience. Or, in the case of a medium like print, ask for placement in a highly read section of the publication at the same cost of a run of press ad.
• Get some perks! In exchange for your money, ask the media outlet for some additional benefits. Maybe it is color added to your print ad at no charge. Or, get your product on air in an early morning news program. Radio stations in particular are always looking for sponsorship partners. Leverage your media budget not only for good rates, but also for some things that usually cost additional money.
OK, this all sounds great, but how do you actually accomplish this? I do this every day, so I have a few tips for you.
• Be honest with the media outlet. Tell them you are working with a limited budget, and let them know specifically what your goals are.
• Talk to several people. The more folks you can bring into the negotiation process, the more you will get in the end. Do not give away confidential information, but let the vendors know the basic types of things you are being offered in the packages you are looking at. This will give them an idea of the things you like, and give them incentive to sweeten the deal.
• Do not shy away from a commitment. The longer you are willing to commit to a media outlet, the more they will be willing to come down on rates, etc.
In the end, however, chose a media partner who still fits with your target audience and helps you achieve your goals. Just because someone gives you the best cost or the most added value, doesn’t mean they will result in the most sales. Analyze the media proposals thoroughly, but don’t ever lose sight of your customer or your company’s goals.”
These are excellent tips and advice from an expert in the field. There really has never been a better time to advertise than RIGHT NOW! So, check out her website, send her an email, and take advantage of ‘hungry’ media outlets by marketing your business-now more than ever before. Smart businesses that capitalize on times like these will only come out stronger when the economy recovers, and ones that don’t will be left scratching their collective heads.
Don’t wait – do it NOW!
