As a small business owner, it is critical that you always spend wisely, particularly when it comes to a marketing and advertising campaign. While you might be interested in contacting a radio station marketing team or working with a promotional product store to create useful giveaways, it is important to know that you are getting your money’s worth from your ad campaign.
There are a lot of different ways to measure the effectiveness of an advertising campaign, but there is still no way to accurately calculate how many sales are directly related to the marketing. One of the most widely accepted measurements of an advertisement return on investment (ROI) is how many impressions, or views, the ad receives compared to how much it costs, which is called the cost per impression or CPI. In this regard, promotional products have one of the best ROI costs of any marketing campaign. According to research by the Advertising Specialty Institute, here are the CPIs for a number of marketing strategies:
• Promotional Products. In most cases, the average CPI of a promotional product is only one fifth of a cent, $0.002. This number applies to personalized baseball caps, calendars, bags and pens that cost around three dollars each. If you’re looking to offer a more upscale item, T-shirts are always a good way to go, but the CPI of these items is still only $0.005, or half a cent.
• Radio Ads. Assuming you don’t pay someone to write your jingle and you write your own script, radio ads can have a CPI that runs about the same as a T-shirt.
• TV Ads. Depending on the station and programming schedule, the CPI of television slots can vary greatly. If you show your commercial on a cable station, your CPI may be as low as $0.007, whereas if you opt to play it on a network during primetime, the CPI will be closer to $0.019. It is important to remember that this will also increase depending on how much money you decide to put into your ad in order to make it look and sound good. It’s a lot easier to make a professional-looking T-shirt design than it is to film a commercial that will reflect well on your brand.
• Newspaper Ads. Depending on the size of your ad and your local paper’s advertising rates, your CPI can vary greatly, but a half-page, black-and-white ad in a newspaper in a mid-sized market will generally be around $0.019.
• Magazine. If you opt to go big and run an ad in a national magazine, you’d better be ready to make a pretty big investment without a huge return, because the CPI for a full-page national magazine ad is around $0.033 – which is about ten times what it costs to make an impression with a promotional pen or baseball cap.
• Promotional products are effective because they are inexpensive, and their longevity ensures that they will be seen time and time again.
Original Article by Jill Harness
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