Most marketers budget more for print advertising than any other type - the exception being the major national or multinational brands that market largely on television. But for most local and regional advertising, print is probably the most operative all-around marketing medium, although internet advertising is has paved the way as a much more efficient, and in many cases, effective, method.
If you're considering buying ad space, here's what you need to know about the rates in order to make an educated purchase.
A ratecard is a table that ad salespeople use to list the prices of ads by size, length, or positioning, and (should) also indicate discounted rates when purchasing multiple ads instead of just one. Ratecards can be obtained directly through the publisher, or through a media agency.
Like hotel rooms, airline seats, and real estate, no one pays the same rate, and almost no one pays the rack (full) rate. The same can be said for savvy marketers when it comes to media buying.
Before you even think about buying ad space in newspapers, magazines, radio, TV, or any other medium, you need to know what the ratecard is - and then negotiate down. Any media owner/publisher will happily send you their ratecard, so take the time to familiarize yourself with who charges what, and why. If you absolutely must have a certain ad slot, at a certain time, then don't expect much leeway. If you express a nonchalant interest at possible advertising sometime in the near future, they'll bend over backwards to accommodate you. Pretend that you're haggling at a market. Doing so shouldn't be too hard - you are!
If you're keen on buying ad space, make the most out of your marketing dollars. Instead of spending that much money on a single ad, consider spreading it over a series of more economical forms of advertising and marketing, such as brochures, search engine advertising and emails. You can also search for smaller-circulation publications with a more local or targeted readership, where the rates may be much cheaper.
There are many media choices out there - probably more than you realize - so always take the time to advertise in alternative ways to leverage your marketing communications and budget. You can even liken it to investing in stocks and bonds. Spread out your budget to leverage your chance for success and minimize your risks. Remember the old adage, "don't put all your eggs in one basket."
Whichever method you decide, don't forget to include a call-to-action that tells people what you expect them to do as a result of seeing your ad.
What are some ways that you save money on traditional advertising methods?
