This blog is to compare the different types of mainstream marketing most businesses make use of. First we’ll start off with the older, more familiar marketing types and move into social media marketing. All of this information can be found online.
Newspaper
The Advocate – Largest daily newspaper in Baton Rouge with a daily circulation of 96,000+.
– Daily rate for a black and white column inch is $62.00 depending on available space.
– Monthly cost with daily use comes to $1860.
Pros
– People are familiar with newspapers and trust the information they contain.
Cons
– The circulation is 96,000 in Baton Rouge. The greater Baton Rouge area, as of the 2010 census, has a population of 802,484 people and the majority of those that have the newspaper delivered to them daily either only read specific sections or don’t read it very often, therefore the exposure is very low.
– Yields an average of 3% business increase.
Yellow Pages
Yellow Pages – Full listing of local residences and businesses.
– Monthly rate – Varies between $5 and $2000 per month depending on information included.
Pros
– Can be low cost and is well known.
Cons
– Yellow Pages are virtually obsolete with everything being listed online. Personally I can’t think of one person I know that uses the Yellow Pages.
– Yields an average of 2% business increase.
Radio
Radio ads – Virtually everyone has a radio and listens to it while driving.
– Average cost for a 60 second ad in Baton Rouge – $48. This varies depending on the time of day aired, the season, and the popularity of the station.
– The average radio ad in Baton Rouge runs 4 times per day, 5 days per week. This brings the cost to $960 per business week and $4160 per month.
Pros
– Everyone has a radio and will more than likely hear your ad at some point.
Cons
– With the abundance of radio stations, CDs, MP3s, sports radio, and XM radio, the chances of someone hearing your ad enough times for it to sink in is quite slim.
– Yields an average of 5% business increase.
Television
TV ads – Same situation as the radios, virtually everyone has one and watches it at some point.
– First with TV ads or commercials, you must first pay to make the commercial which can range anywhere from $1000-$350,000 depending on the length, quality, and the company that helped create it, if you elected not to create one yourself.
– Secondly there is a cost to have it shown. This is measured in 30 second periods and can range from $5 on a smaller channel during low-traffic hours to over $2,000,000 during the Superbowl. The rate is also determined by channel, national or local commercial, time aired, length, and if multiple showings are desired, charged as CPM (cost per 1000 views).
Pros
– Everyone has a TV and will more than likely see your commercial at some point.
– Commercials are still credited with being one of the most effective ways of advertising.
Cons
– Can become very expensive if the quality of the commercial is to reflect the quality of the business. Also with the addition of “interactive TV” such as TiVo, DVR, thousands of channels, etc. the visibility for most commercials has reduced dramatically. Unless a show is being watched at the exact time it is aired and the person has no other distractions, the possibility of your commercial having an impact on that household is slim to none.
– Yields an average of 11% business increase.
Social Media Marketing
Social Media Marketing – Only recently has this become popular and viewed as a beneficial way to advertise.
– To improve results, as with other forms of advertising, this must be done more often and maintained. Unfortunately the amount of time necessary to advertise along side socializing to spread the word of your business or product is more than most business owners can fit into their schedule on a daily basis, being that a minimum of one hour per day is required.
– The average cost can range anywhere between $500-$3000 per social media site, per month. Fortunately our prices are considerably lower than the average costs.
Pros
– Virtually everyone is now active in the social media world for one reason or another.
– Businesses’ ads can be as specific or as generalized as they would like.
– Yields an average of 58% business increase.
Cons
– Still looking for one.