If you’re like most marketing managers or small business owners, you’re likely to be inundated with media opportunities from various sales reps. They all sound good. But how do you determine if they’re right for your business?
While this can’t replace the expertise an agency media planner/buyer can provide, here are some questions to help you evaluate if it makes sense for you or not:
- What are you trying to achieve by buying this media? (Be specific.)
- How many people will it reach?
- Who is the target audience for this media? Are the majority of their audience your customers?
- Could you reach more people from your target audience for the same cost with another media?
- Will your customers be in the right frame of mind to be interested in your product, when they’re consuming this media? (e.g. Moms listening to the radio during drive time may not be interested in investment annuities at that time.)
- Who are some other advertisers that use this media?
- Would you want your brand to be associated with this media?
- If it’s a package, can they line item the value of each element? Do their numbers sound realistic?
- Do you care about their “added value” elements?
Specifically for sponsorships
- How many total sponsors will there be?
- Is it category exclusive? (i.e. none of the competitors within your industry can also be a sponsor)
- What are the differences in the different levels of sponsorship? Are they worth the cost differences?
- Review all the elements of the sponsorship package. When people experience those elements, do you think they will be compelled to take the action you want them to do? (e.g. just having a logo on a banner, normally doesn’t motivate people to buy something)