Business Tips

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Does Your Business Have A Media Plan?

How do you make customers aware of your business and what you can offer them?

Advertising

Everyone knows that a business needs to use advertising to get its message across. But, is your advertising effective? Is your advertising done in a planned and coordinated way? Is your advertising getting the results you want?

If not, you need a Media Plan.

Advertising on the 'spur of the moment' could be compared to throwing darts at the dartboard hoping to hit a bull's eye.

A Media Plan is a detailed plan of all the outside advertising and promotional activities of the business for a defined period of time. A Media Plan can create 'synergy' between all your media activities. That is, the next media event will build on the success of the previous media event. A Media Plan can also save you money by making it easier to budget your advertising costs on an annual basis

Typical components of any media plan are:

Examine all of the media options in your market. Ask yourself, do your customers read that particular newspaper or listen to that particular radio station? If most of your business comes from B2B activity, that is business-to-business sales, then a newspaper specifically directed at other businesses is likely a good choice for your advertising.

Once you have decided on the best media options in your market, prepare a calendar of media activity for at least a 12-month period. It is helpful to use a grid with columns for types of media across the top and a row for each month of the year down the side. When you have completed the media plan grid you will have a 'picture' of your complete media plan and be able to see how one event or activity supports or interacts with the next media activity to create synergy between the activities in your Media Plan. Now, decide which activities are essential and which activities are desirable, but are not core events.

Now, you're ready to prepare a budget for your Media Plan. Your media representatives can be very helpful with advice on pricing and placing your advertising. If your total budget is a shock, your Media Plan will make it easier to 'cut back' on your media activity selectively. You can then maintain the continuity of your plan, without affecting your 'core' media events.

Preparing a Media Plan is part of good business planning. Prepare a Media Plan for your business. Your advertising will have more impact in your market, reach more customers, help to build your business and save you money.

Graeme Robertson,
Partner BizBite Consulting Group

BizBite Consulting Group is based in Victoria, BC. The company produces self-study, business management training on CD-ROM and provides management consulting services to small and medium sized business. Graeme Robertson is a season business management professional with over 30 years of experience. He has held senior positions in retail, wholesale and distribution operations. Additionally, Mr. Robertson was regional Manager for a national personnel-consulting firm and he has been actively engaged in business management consulting for 20 years. For more information on BizBite Consulting Group training materials contact BizBite Consulting Group, #1412 – 621 Discovery Street, Victoria, BC, V8W 2X2. Phone: 250-652-7654. E-mail: jgrobert@shaw.ca.