By Justin Moreau
If I don't have a great location, I need to advertise locally. Are local print ads worth the money?
A great location, while expensive, may actually save you time and money on advertising your restaurant over time. The extra money you spend on a lease with a great location may replace the money you would otherwise have to spend on marketing campaigns. That also doesn't take into account the time you put into marketing (instead of running) your restaurant, nor does it account for the time spent dealing with ad sales reps. Nor does it account for the inevitable fact that some of those ad campaigns - while they cost you money - won't work at all and will bring you zero additional dollars in revenue. So how can you leverage local print ads to advertise your local restaurant?
If the sales rep doesn't know the CPM, that doesn't necessarily mean you shouldn't advertise in that magazine. It may just mean that he's the latest sales guy in the revolving door of turnover that is the sales industry. If he can't tell you, do yourself (and the sales guy) a favor and calculate it out right there in front of him. Here's how:
Example: a magazine has a circulation of 10,000; they're charging $600 for a half-page ad:
- $600 x 1,000 = 600,000
- 600,000 divided by 10,000 (circulation) = 60
- CPM = $60
- You will pay $60 for every 1,000 printed copies of that magazine.
Again, we don't necessarily recommend advertising your local restaurant in print, but if you do, make sure you keep track of any increase in business while the print ads are running.
If you still can't pull the trigger on print ads, we don't blame you at all. You can also check out our other Restaurant Marketing Blogs on Local TV Advertising for Restaurants, Why Coupons Suck, and Online Advertising for Restaurants.