How do you make the most of your advertising budget?

With so many channels available for advertising a company and its products, it can be tricky to decide how much to spend on advertising and where to allocate your budget to maximize profit for each dollar spent on ads. According to Inc., a successful advertising budget takes into account several things, including the cost of each product, the target consumer, which media channels (i.e. social media or more traditional mediums like print and television) are best to reach your target audience, and their motivations for buying your products.

Not to be confused with marketing, the right advertising can boost your company’s presence in the minds of consumers and, as a result, can help you reach your profit goals. How do you make the most of your advertising budget? Which mistakes do you avoid? Tell us all about it in the comments below.

Tracking is everything. Let me say that again: Tracking is everything.

Traffic delivery is not a problem whether you want it from Google, Facebook or any other network. Media spend needs to be optimized month on month and this can only be done if you know which is the poor traffic and which is the good traffic. You won't know if you don't measure it.

TOFU, MOFU, BOFU - tailor the adverts to the position in the funnel your user finds themselves in. Take a contextual view of what that person knows about you when they click your ad. Don't deliver to the homepage always and expect people to take an interest!

Even if the sector might not be appropriate for your own industry, we wrote a blog post to contextualize how the ad market is changing with tracking here and more zoomed out here

If an ad-network makes a recommendation and you don't have good measurement, you will spend more money and not have a way to reconcile results.

If it doesn't sound like a good offer to you, it probably isn't a good offer, so don't think you will  make sales and get good results.

Review the marketplace, look at your competitors, be better than them on everything.

Cheers.

G.