Pamela Vasilevskis President/Founder of Prism Advertising & Marketing
Website Address: https://www.prismadv.com
Each week on “Biz Buzz”, our host David Sillick talks to business experts in the community. This week he sits down with Pamela Vasilevskis from Prism Advertising & Marketing. Prism Advertising & Marketing, LLC, is dedicated to combining creative solutions with solid relationships in the dynamic Nashville marketplace to put your company in the best position to grow! To learn more, visit https://www.prismadv.com.
What are the most important things for a customer to do to make sure they get most out of their advertising budgets.
It’s to make having an advertising budget a priority in any business enterprise. I’ve run into it all the time where clients will be thinking that marketing and advertising is the very last thing that they’re going to spend their money on, and, really, it should be one of the initial things that they budget for as they’re setting up their business. Obviously, if a company’s been in business for a while then hopefully they have allocated a certain budget for that. And then once they do, it doesn’t even have to be a huge budget, but as long as they’re consistent and stay focused on keeping their message out there, it’s really important. So if in these times of COVID, for example, I know a lot of companies have been challenged and it’s so tempting to throw out the advertising budget as one of the first things to go because it seems like an easy expense to get rid of, but, really, it’s so important to keep that even if it’s minimized a little bit just to keep your business and its goals out there.
Are there any other tools that businesses should have before they start doing external advertising for their business?
The Web site is so important. And in fact, right now, it is the store front for so many businesses who either had to close altogether and are completely working from home or having a virtual storefront. So the logo and having a mission statement; those are very important. You want to make sure your branding is consistent across all the media platforms that you use. So, of course, when you log onto your Web site, you want to see that logo and your mission statement or call to action and keep that consistent through all of your advertising.
What is a good budget that a business needs to keep reinvesting back into marketing?
Well that’s a great question, and it’s one we’re asked a lot. Rather than giving it a hard dollar figure, I do think a percentage is the way to go. I have heard anywhere from I recommend 4%-8% of sales receipts. So 8% might seem like a lot to some some businesses, but, really, if you can be in that range and think about not even being less than 4%, you’re going to have a really robust advertising campaign and be able to get the word out about your business.
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