Loco Location...

I got our family's bikes out of storage last weekend. Unfortunately, Beth's front tire needed repair. Our local shop was closed. Then I remembered a bike shop along the Prairie Path, a popular Chicago bike trail that we frequently ride. They were able to fix the flat while we waited. It took about 10 minutes. It didn't cost a lot. And we were able to jump right on the path without moving our car.

During the ride, I thought about it. What at first seemed an out-of-the-way location now made sense to me.

I also thought about how being in the right place at the right time is just as important for advertising as it is for retailing.

RIGHT PLACE. It surprises me how many advertisers waste their money on general advertising when niche advertising could be so much more cost-effective. For instance, say you sell bike trailers. You could advertise in a newspaper where 10% of the audience is a likely buyer. Or you could advertise in a local bicycling magazine where 40% of the audience is fit. Or perhaps you find a local parenting magazine has a 60% fit.

It may look like it costs a little more per person. But being in the right place to reach more of the right prospects is actually cheaper.

RIGHT TIME. In most cases, you can't tell when a customer is in the market for your product. So I suggest my clients focus on advertising continuity. That is rather than running one full page ad once, run three 1/3 page ads thrice. By doing this, you are more likely to hit them when they are beginning their buying process. With seasonal products, like bike trailers, you want to invest the lion's share of your budget during pre and early season and reduce it as season sales tend to decline.

Looks like I exercised a lot of gray matter on this ride. But, judging from the way I felt the next morning, that's not all I exercised!

- Phil Sasso