Because I own a couple of magazines I often hear from artists who want advertising advice. Though advertising is a powerful tool, it's not right for everyone. But when it's time, most people (not just artists, but also galleries) don't know how to buy. Sadly most get sold by magazine reps, who sometimes won't give you the full story.
Today I received an email. "Please tell me your rates." Most "sales people" will jump on that question and answer it because it's a buying signal. However the understanding that most people are asking a question they don't fully understand, I prefer to ask some questions prior to answering their question.
Imagine calling a car dealer and saying "how much are your cars?" The question can be answered, but unless a buyer knows the exact car and features desired, the question can't be answered properly. A good car sales person would ask... what kind of car are you looking for, what will you use it for, do you need cargo space, four wheel drive, good gas mileage, etc.
A good advertising rep will do the same. What do you want to accomplish? What audience do you want to reach? What is the price point of what you're going to sell? What are your expectations?
These questions are important because MOST people calling for ad rates, if they are not accustomed to advertising, have not thought things through.
Here are the rate traps.
1. You set expectations based on the success of a single ad. Though I've seen single ads work, most effective advertising is a process not a single event. It takes time to build a brand, build trust with the readers, make them aware enough to want to buy. Whereas most think..."If I run one ad and I sell 50 paintings I'll be rich!!" A good ad rep knows her audience and can help manage realistic expectations. (Most ads don't sell 50 paintings!!)
2. You play the numbers game. Using round numbers lets say an ad is $100. and the magazine has 10 readers. You're paying $10 per readers. Another magazine has an ad rate of $100 and has 20 readers and has a rate of $5.00 per reader. Which is better?
If you said 20 readers is better... you might be right but you might be wrong. For instance what if of the 100 readers 95 of them have bought a painting in the last 6 months? On the other magazine out of 100 only 1 has bought a painting in the last 12 months. Now which is better?
Magazines throw the numbers game to look better. Most advertisers fall into the numbers trap and buy the bigger audience. More important is the most productive audience who is most likely to buy?
3. Rates go down the more you do. Invest in long term campaigns and you'll get better results the longer and more you do. Its a fact.
I highly recommend trying to find someone to help you figure this out on your own. It can cost you a lot of money and net you no return if you don't know the lay of the land. An experienced confidant can help you make a plan, based on the needs of your business.
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