Advertising is a specific branch of the marketing field, making for perhaps the biggest type of business that exists in the world, all things considered. The very search engine you most probably use without giving it a second thought, Google, is indeed a business whose somewhat concealed business model is nothing more than advertising. There are some notable basics to take into account if you wanted to get into the advertising business.
1. How to set your pricing
A great way to get started with advertising is to create a fixed price for your client, i.e. your client will pay you for your work as long as the project is completed in the specified time. Obviously, if you charge by the hour, you can’t charge more if the project is longer than normal. For instance, if you charge $1000 a day to “do work,” your client will pay $5000 to finish the project in a day.
Obviously, this method won’t always work. You may find that your client’s business is seasonal and needs to be completed in the summer, instead of the winter. Alternatively, some customers are financially sensitive and can’t afford to pay more than $500 a day for any job. For this case, you may wish to offer a flat rate or a per-hour fee, etc.
2. How to advertise
Once your business is set up, the next thing to consider is how to advertise your business. This is a complex part of the puzzle because there are lots of different ways to advertise. Some businesses have products they can sell on sites like eBay and Amazon, but others may prefer local businesses like businesses on Craigslist or other small business directories to advertise their services.
Advertising costs vary depending on what you advertise, but you can expect to pay anywhere from zero to several thousand dollars per year depending on the nature of your advertising. Common costs to consider include banner advertising on popular sites like Facebook and Google, print ads in prominent magazines and publications, and internet advertisements. Remember that internet ads cost significantly less per click than television and newspaper ads.
Advertising is more effective when it is targeted to your particular customer, so it’s important to understand how to go about this. Google is an obvious choice for online advertising. However, this type of advertising can also be effective in print advertising, and even on billboards. Other large advertising companies include Yellowpage, etc…
As would likely be clear by now, getting into the advertising business should have you following the business-creation bath typical to any other type of business, which is where advertising business hopefuls get it wrong.
If you can’t as yet get clients, focus on creating engagement points which attract people’s attention, then you can sell advertising space. Take cues from examples such as some bloggers who perhaps discuss topics such as online betting, with content such as new casino sites discussed and subsequently monetised through casino operators purchasing banner ads, text ads, etc.