Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Setting an Advertising and Marketing Budget

By Harry Tan Subscribe to RSS | January 24th 2012 | Views:
loading
 
  



Advertising requires a huge investment. How much money an organization is willing to spend to promote their campaigns will also affect how they will be able to achieve their advertising objectives. Here are some of the methods or approaches to setting an advertising budget:

1. Percentage of Sales

This method or approach is based on a percentage of previous sales or a percentage of predicted sales. This works best for companies with a stable and predictable sales pattern. But this approach tends to assume that the sales are directly related to advertising – which is not the case. There are a lot of other elements and factors that will also affect the sales. And this will also mean that your advertising budget may not be appropriate to the amount of sales promotion your business needs.

2. Based on Tasks

This approach relates the expenses to the specific Marketing and Advertising activities that make up Advertising Campaigns. It involves listing down who it is that the ad needs to reach, how often should the business advertise, what medium is more effective in reaching the target audience, and how much will it cost. The method is about creating a budget that will allow the business to meet their particular objectives.

3. What is Affordable

Most small companies use this approach wherein they only spend what they can to avail of an Effective Advertising. It’s understandable that such small companies may not have a lot of profits to sacrifice in order to advertise. But since there is no attempt to match goals with advertising, a large amount of money could be wasted. It is when market is especially bad or sales are low, that is the time to invest greatly on promoting your products and services.

4. Best Guess

A lot of companies who are new to Advertising and Marketing may lack the knowledge on how much is needed to invest in advertising in order to achieve their goals and objectives. What happens most of the time is that marketers would tend to rely on their best guess or judgment on what their advertising budget should be. There are also instances wherein marketers would follow a competitor’s budget. Doing so will only prevent the business to have that competitive advantage in increasing their sales.

Some methods and approaches may be easier for some companies but that does not mean it will be effective. Also, budgets that work for others does not mean that it will work for you. It is important to strategize and analyze which approach matches your goals and objectives. Out of Home Media Owners like SMRT Media have different rates that will be able to suit any budget for Advertising Campaigns make possible.

Harry Tan - About Author:

SMRT Media provides reliable Advertising Campaigns. The Best Advertising Agency in Singapore, SMRT Media, offers creative Taxi Advertising and Train Advertising. Visit their site at http://smrtmedia.com.sg/

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/advertising-articles/setting-an-advertising-and-marketing-budget.htm

Related Advertising Articles Subscribe to RSS

What to look for in an advertising agency
Published by Harry Tan on April 27th 2012 | Advertising
Advertising can do wonders for a business but the problem is, is that it costs a lot and most busine...
 
How to bus shelter advertising
Published by Harry Tan on April 11th 2012 | Advertising
Outdoor advertising has many forms and it is one of the fastest growing areas of advertising in the ...
 
The Local Answer - Our advertising works, we know because our customers tell us!
Published by Jack Cooper on November 30th 2011 | Advertising
The Local Answer is a printed publication distributed monthly to over 52,00 homes in the North East ...
 
All Something about outdoor lanterns
Published by Chris Adam on March 5th 2012 | Advertising
It is a common known fact that having curb appeal in your home increases the face value and so much ...
 
Digital Billboard Advertising as a great tool for advertising
Published by Harry Tan on March 19th 2012 | Advertising
Right now, a revolution is taking place. Technology has become an essential part in our lives whethe...
 
Great customer experience with airport advertising
Published by Harry Tan on March 21st 2012 | Advertising
There are different means, arts and tools of communication. Advertising is one such art of communica...
 
The benefits of outdoor digital advertising
Published by Harry Tan on April 23rd 2012 | Advertising
In this fast- paced and highly competitive generation wherein consumers are constantly demanding for...
 
Creative advertising agency ensures highly effective promotion of products
Published by Robbie Lue on January 2nd 2012 | Advertising
The uniqueness about creative advertising agency is that it takes up every task in the most innovati...
 
Bumper Stickers, Smart advertising at low prices
Published by Raymond H. Barr on July 2nd 2012 | Advertising
Bumper label printing are used for promotion of numerous kinds of services. Bumper stickers are usua...
 
Choosing the mobile advertising network that’s right for you
Published by Brian Morris on December 12th 2011 | Advertising
As we move further and further into the 21st century, we find that mobile devices are getting smarte...
 
A guide to effective subway advertising
Published by Harry Tan on March 12th 2012 | Advertising
Billboards cost greatly these days, and savvy outdoor ads businessmen treat it as a piece of valuabl...
 
Bus shelter advertising: a brilliant advertising medium
Published by Harry Tan on March 16th 2012 | Advertising
There are a lot of people around the world who wait for a bus every day. And these idle moments wher...
 
Flyers printing are the best economic solution to your company's advertising problem
Published by Raymond H. Barr on July 23rd 2012 | Advertising
Whenever there's a new company on the block, the first problem that it faces is that no one knows th...
 
How to use advertising tools for effective marketing
Published by Ronny Smith on March 9th 2012 | Advertising
The use of advertising tools is also plays an important role in your marketing strategy. You will ha...
 
How to make the best out of home advertising campaign?
Published by Harry Tan on March 1st 2012 | Advertising
Advertising has been everywhere and around us since the Stone Age when cavemen drew cave paintings a...
 
Different advertising methods and its impact on public
Published by Annphilip on March 7th 2012 | Advertising
Advertisements multidimensional focus helps in sales promotion and general awareness. Most of the ma...
 
Top Reasons why out of home advertising can boost the impact of other media
Published by Harry Tan on April 27th 2012 | Advertising
A media mix is a strategy of advertising wherein various advertising media or platforms are used for...
 
Why do you need an advertising agency
Published by Harry Tan on April 27th 2012 | Advertising
When creating and advertising campaign, it’s important that you make the best and most effective o...
 
Launch a new product with expert guidance from a creative advertising agency
Published by Robbie Lue on January 31st 2012 | Advertising
Searching the right advertising agency is not an easy task. Since many agencies are available with a...
 
Great opportunities with Digital billboard advertising
Published by Harry Tan on March 21st 2012 | Advertising
It's been shown over time that billboard marketing is an effective means of advertising one's produc...