Yesterday, we posted a few thoughts about the overall “decline” of radio and print advertising, from a new revenue standpoint. But, we may have left out an important point: although the recent shift from ads on radio stations, and newspapers and magazines, etc., and towards the Internet is obvious and undisputed, that doesn’t necessarily mean you should be taking your company’s advertising elsewhere.
The reason is pretty simple: those ads might not be any less effective than they were in the past. In fact, they may do just as well, but at a lower cost. Fewer radio and print advertisers mean less competition, and (sometimes) lower advertising costs. That means if ads are still performing well, you could see a higher ROI than you were in the past.
If you’re making more money on smaller expenditures, then trimming that advertising back might be a terrible idea. A better strategy might be to increase your radio and print advertising, or at least to hold it steady and then test other formats and messages.
The bottom line is that the right answer for another business might not be the best one for yours, and overall trends are just that – an idea of what other companies are doing. To succeed with any kind of advertising, it’s important to follow your own instincts, and market feedback, rather than switching off winning campaigns just because everyone else is doing the same.