“Keep in mind that small companies can spend $24,000-$120,000 annually, while large companies can spend as much as $200 million annually.”
Set a Realistic Budget: Setting a realistic budget for your advertising campaign is essential. Consider how much you can afford to spend and the potential return on investment (ROI) for your campaign. Start with a budget and test your campaigns to see what works and what doesn’t. Once you better understand what’s practical, you can adjust your budget accordingly. What can you afford?
Determine Your Advertising Goals: You need to know what you hope to achieve with your campaign. For example, are you looking to increase brand awareness, generate leads, drive sales, or do all of the above? Your goals will determine the type of advertising you need to do and how much you should spend.
Consider Your Target Audience and Industry: How competitive is your industry? Who are your target customers, and where do they spend their time online? What are the average costs per click or impression in your industry? These factors will impact how much you should spend on your advertising campaign. The more competitive it is, the more you will need to pay.
Advertising Goals: The client’s advertising goals will determine the type and amount of advertising they need to do. If the client’s goal is to drive sales, they may need to allocate more funds to their campaign than if their goal is to increase brand awareness. Driving sales, maintaining sales, or expanding into new markets will determine the cost of a campaign.
Target Audience: The client’s target audience and the platform(s) they use will also impact the cost of their campaign. For example, if the client’s target audience is primarily on Instagram, they may need to allocate more funds to Instagram ads than other platforms. On the other hand, if it is TV or radio, it would be much more expensive.
In summary, the amount of money a client should allocate to OhYeahLive will depend on their advertising goals, target audience, level of competition, how much talent and crew needed for media production, who the talent is, how immense is the ad placement landscape, including ad format and targeting options.
