There are plenty of good reasons to say no to magazine advertising. If a magazine is not audited, or the circulation doesn’t match your target audience, or if you genuinely couldn’t handle any more business. But there are plenty of times where spending on advertising is clearly the right thing to do.
Here are a few of my favourite reasons given for NOT advertising:
We’re going to see how the product sells first
I once had a potential client who was launching a major new product from overseas into Australia, directly aimed at the market of one of our magazines. They spent a huge amount on getting the deal, shipping the gear, setting up distribution, and spent a long time considering their marketing. In the end they decided to ‘see how the product sells first’
This was for a magazine where the rates were not expensive, even a relatively large investment in every edition wouldn’t have amounted to more than 1-2% of what they were spending on the launch.
Of course, the product did not sell as well as they hoped, and when they realised they needed to advertise, they had exhausted their resources so ended up giving up on this product.
We’re spending our budget on our sales reps instead
Great idea. Of course you need to spend money on boots on the ground, reps who can go out and build relationships with clients. No-one would suggest a few ads in a trade magazine is a substitute for an effective sales rep. Instead, trade magazine advertising should be viewed as a very cost-effective support for your sales activity. Brand recognition smoothes the path for your reps, makes sure the customers have already seen the buzz around what you’re offering, and it gives your reps more than just your company brochures to show potential customers when they are visiting.
Business is declining so we’re cutting back and going to batten down the hatches
Ok, so you need more business, how are you going to get it? Hiding from the world is the beginning of the end. Let us help you get the business coming back in. A continual presence in a respected trade magazine reinforces that you are still strong in the industry and ready to talk turkey.
We are focussing on fixing up our website/social media etc
This is a great idea, if you actually do it. But in the meantime, advertising is still a simple and cost effective way to stay in front of your market
Don’t wait til it’s too late. If you need more business, remember;
Early to bed
Early to rise
Work like hell