Advertising, just like every other part of the business world, is always changing. Sometimes, that’s a good thing, such as when new, targeted opportunities open up for very affordable rates. But, when the thing that’s changing are the ad rates for your favorite magazine, radio station, or website, you might be forced to make some tough decisions.
Because ad rate increases are just part of life, here are three things you can do to deal with them:
1. First, take a close look at your budget. Is the new rate structure within your budget? Sometimes it’s worth it to stretch a little, but you don’t want to break the bank just to keep the same ads running in the future.
2. Judge the return on investment you got from past campaigns. Obviously, the return you’ve already gotten from the advertising medium should be a big factor in your decision.
3. Look at the whole picture. Why are rates increasing? Is the magazine or website reaching more people than before, or opening up new channels of distribution? If so, you might be able to get more value for your money, even if you are paying a bit extra.
Nobody likes to pay a bigger bill for anything, but increased ad rates can often be accompanied by bigger exposure or new opportunities. So, think carefully before you ditch a winning ad campaign just because it costs a little more.