Put your eggs in one basket

We’ve all heard the phrase, “don’t put your eggs in one basket.” The gist of this saying is that if all your goodies are in one place and something happens to that one place, you’ve lost everything. Its usually good advice. If all of your 401K is in one particular stock, then that stock had better do pretty well. If it tanks, then you’re through.

Diversification is almost always a good thing, except when you’re spread so thin that you don’t get much of a return anywhere.

This happens with a lot of small business advertising. They think they need to be seen and heard by everyone, so they divide their advertising budget up among a bunch of different venues. Now if your budget is pretty hefty, then there’s nothing wrong with this strategy as long as your reach and frequency are in good shape. But if you’re like a lot of small businesses and you don’t have the budget to sustain a lot of advertising, then you’re probably are going to be disappointed with the results.

It is always better to reach a fewer number of people multiple times than it is to reach a huge number of people only once. As much as you’d like to think that your product is so fabulous that every person who hears of it will immediately beat a path to your door, the truth is people need to warm up to the idea of purchasing it. During this warm up period, you need to be telling them the unique benefits of your product because they’ll need to hear it several times before they say, “You’re right, I need it!” That’s what we call frequency.

So what’s the easiest way to increase your advertising frequency without busting your small business budget? Don’t advertise everywhere, instead put all your advertising eggs in one basket. Pick one venue and advertise there regularly. You’ll reach those same readers or viewers many times, making them more familiar with your product, and hopefully making them more willing to make a purchase from you.

As long as the medium you choose has an audience, you’ll see soon see results. Assuming, of course, that your message is relevant to your customers.

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