Overview
Advertising isn’t simply an expenditure it must in fact be seen as an investment and thus in order for businesses to get a good return on the investment there is a need for proper planning and allocation of resources that are available. A very important aspect of planning the promotional activities is setting up an advertising budget. As the name suggests Advertising Budget is an estimation of any organisation’s promotional expense over a period of time. It is basically an amount that the organisation is willing to set aside to achieve its marketing objectives. In order for any campaign to be called entirely successful it needs to be executed within the budget that has been set for it. But for this there is also a need to plan the budget meticulously in order to avoid any wasteful expenditure or any problems that might occur due to insufficient funds. New Advertisers are often confused about setting the right advertising budget and for this we’ve laid down certain considerations that they must keep in mind while deciding on their advertising budget-
- Stage- One very important factor that plays a crucial role in determining the ideal advertising budget is the stage at which the business or the product is. Stage can be referred to as the existing position of the brand or product in terms of its age and popularity. In the introductory stage i.e. when a product or the whole is newly launched the expenditure on the advertising activities should be high while if the brand or product has reached the maturity stage i.e. the time when it has spent sufficient time in the market and has gained enough popularity, the budget can be reduced to a smaller percentage of the revenue.
- Target Consumer- Another important determinant is the type of audience that the brand wishes to target. If the brand wished to reach out to the elite and high-income group audience it needs to have its presence through ads in areas where these people might be- these may be airports, high-end restaurants, parlours, gyms and prime locations of the city. Advertising in such areas can be slightly more expensive than advertising in areas where the middle- and lower-income groups might reside.
- Objectives- The objectives that the brand wishes to achieve through the promotional campaigns also need to be kept in mind. This is where a lot of advertisers go wrong. In order to achieve ambitious results, there is a need to invest sufficiently. A low advertising budget even if allocated properly would only get the brand limited results and beyond a point they need to invest more to get better results.
- Mediums- The type of mediums that the brand wishes to advertise through is also important. Each medium differs from one another in terms of their reach, targeting, benefits and of course the cost. Certain mediums like television or national newspapers require the brands to have larger budget while others like outdoor advertising can be executed within a relatively small budget.hm
Why planning an advertising campaign through Excellent Publicity?
Excellent Publicity is an emerging and fastest growing advertising agency headquartered Ahmedabad with branch setups in Mumbai, Pune, Surat & Vadodara started its journey in the year 2012. Excellent Publicity is the one stop solution to provide best services to have remarkable ad campaigns all over the nation. We have as many years of experience in media buying, planning and execution and can provide high quality services with comparatively lower rates. Team Excellent has served thousands of clients and helped them in promoting their brands and reach the target audience successfully.
Team excellent is a talented, enthusiastic and well experienced group of people who provide a focused and to the point assistance to their clients and works with the motive of providing high quality services that combines creativity and value pricing. With Team Excellent’s innovative ideas you can have ad campaigns that cut across all boundaries.
Our work speaks for itself when you see our clientele consisting of some of the most reputed brands of the world and India including Google, Swiggy, Indigo Airlines and various others. Our campaigns not only have helped brands increase their sales in the short run but have also done wonders for their long-term brand image.
With Excellent Publicity, your only job is to dream big for your brand while we do everything from ideation to execution.
For more details, contact us or write us at inquiry@excellentpublicity.com.