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How to tell when it's the right time to advertise

How do you know when it’s the right time to advertise your business?

Are you ready to take your business to the next level but you’re not sure if advertising is the right move? Using paid ads is a fantastic way to amplify your message and reach a larger audience. However, before you dive headfirst there are a couple of key considerations. In this blog, we’ll explore the signs that indicate it’s the right time to start your advertising journey. 

  

Before you start: Do you have a proven offer? 

  

The first and most crucial benchmark to meet before launching an advertising campaign is having a proven offer. But what exactly does this mean? Essentially, it means that your product or service has already shown some success in the market. You should have made some sales or had enough conversions to prove there’s a demand for what you’re offering, and that your messaging is hitting a nerve with your audience. 

  

“Advertising is like a megaphone for your business – it takes your message and broadcasts it to a broader audience. However, if your offer doesn’t convert, advertising won’t magically fix that issue. Instead, it will magnify the problem by showing your not-so-successful offer to even more people.” 

  

So, how do you know if your offer is proven? Here are a few key indicators: 

  

  • Sales and Conversions:  If you’ve sold your product or service to a reasonable number of customers and they’ve expressed satisfaction or made repeat purchases, you’re on the right track. Consistent sales and conversions demonstrate that your offer has value and meets a need. There’s no magic number that constitutes ‘enough’, so you’ll need to use your judgment. If it’s a free offer like a download or webinar, you’ll want to see more conversions in a shorter time than if it’s a service you’re selling for a few thousand dollars. Generally, you’ll have a feeling that you’re getting some traction. 

  

  • Positive Feedback: Customer reviews, testimonials, and positive feedback are valuable signs that people want what you’re selling. If your customers are raving about your product or service, it’s a good sign that your offer is ready for a wider audience. Talk to people at networking events and post on your social profiles and in groups (being sure to follow the group rules of course). Beware of asking your friends and family, unless they’re your ideal target market. They most likely won’t want to hurt your feelings by telling you your offer sucks. 

 

  • Market Research: Conduct thorough market research to ensure there’s a demand for your product or service. Look for data that supports the idea that people are actively seeking what you’re offering. Check out how many competing products are on the market. Having other people actively selling what you’re selling is often a sign you’re in a good market. If everyone is discounting, let that be a red flag!

  

So, when is the right time to start?  

  

The second consideration that should influence your decision to start advertising is the pace of your business growth. If your business isn’t growing as quickly as you’d like, or you’re struggling to generate leads and inquiries, that’s a sign it’s time to advertise.

 

“Some people will tell you that you need to reach a certain size before you advertise, but if you don’t advertise how are you going to get to that size? Here are some signs that your business might benefit from advertising.” 

  

  • Stagnant Growth: If your business has hit a plateau and you’re not seeing significant increases in sales or customer engagement, it’s time to explore advertising. 

  

  • Lead Shortage: Are you constantly on the hunt for leads and struggling to fill your sales pipeline? Advertising can help you reach a broader audience and attract potential customers who may have never found your business otherwise. 

  

  • Competition: If your competitors are effectively using advertising to reach your target audience, you risk falling behind if you don’t join the race. Advertising helps you stay competitive and relevant in your industry. 

  

Ready to Take the Plunge? 

  

So, you’ve met the benchmarks, and it seems like the right time to advertise. But where do you start? Here are some quick tips to get you going: 

  

  1. Define Your Goals: Clearly outline your advertising objectives. Are you looking to boost sales, increase brand awareness, or generate leads? Your goals will shape your advertising strategy. 

  

  1. Know Your Audience: Understand your target audience inside out. What are their preferences, pain points, and behaviors? Tailor your ads to resonate with them. This is the cornerstone of your marketing so don’t take shortcuts. Spend time talking to the kind of people you think will buy from yoU. Ask about the kind of problems they face that your problem solves. Find out how that makes them feel. Talk about how your product or service helps them overcome those challenges or achieve their goals and then ask them how they’d feel if that frustration was gone. Knowing these feelings and emotions is what’s going to let you create offers they can’t resist. 

  

  1. Budget Wisely: Set a realistic advertising budget. It’s better to start small and scale up as you gain experience. Work out how much an average customer is likely to be worth to your business, then determine how much you can spend to get each one. Never spend money you can’t afford to lose. Advertising is a risk, even when done well, and it can take time to get your messaging right so be prepared for things not to work out the first time. 

  

  1. Choose the Right Platform: Different social media platforms and publications cater to different demographics. Pick the one that aligns with your target audience.

  

  1. Create Compelling Ads: Craft visually appealing and engaging ads that clearly convey the value of your offer. Knowing your ideal customer avatar will help immensely. If you ignored point number two above, stop now, go back, and do your client avatar. Create offers that genuinely solve problems or help people get to their dream outcome. Write copy that talks about. the benefits, and how they’ll feel AFTER they buy from you. Don’t focus on the features of your product or your service. Remember, people buy benefits not features. 

  

  1. Analyze and Adjust: Monitor your advertising campaigns regularly and be ready to make adjustments based on performance data. If something isn’t working, don’t give up. Try something else, and something else, and something else. You only fail if you give up.

 

“If you’re not sure you can do all this, get help from a professional agency. It’ll save you a ton of time and money in the long run”

 

  

So, advertising can be a game-changer for your business, but it’s essential to meet certain benchmarks before diving in. Having a proven offer and facing challenges related to business growth and lead generation are key indicators that it might be the right time to advertise. 

  

Remember, advertising is a dynamic field, and it’s okay to start small and learn as you go. With the right strategy and a focus on your target audience, you can use social media advertising to boost your business and achieve your goals. 

  

So, what are you waiting for? If you’ve met these benchmarks, it’s time to unleash the power of advertising and watch your business soar to new heights!

 

And if you need help, reach out to us and ask, that’s what we’re here for. Check out our results and book a free strategy session HERE