I have done some market research, however I am struggling to obtain some information and am hoping that there is someone who can assist with my query.
I am a young entrepreneur in the making. I am in the start-up phase of creating my very first business, which is an online marketing business to market events for the events industry. I will market an event, i.e. conferences, workshops, exhibitions etc to the general public mainly via my website, via social media and via email campaigns etc.
I am having some difficulty to obtain the following information:
1. What the average cost clients are willing to spend to advertise an event. There are various forms of advertising, i.e. pay per click / view, flat rates etc.
2. How long are the advertisements advertised for? a day, week or a month?
In order to launch my business, I plan to advertise my website via other high traffic websites, however these websites are charging a rate per 1000 times that my ad will be viewed. I need to work out what to charge my clients and for what period so that I do not run at a loss.
I am also somewhat uncertain about whether my clients are willing to pay on the same basis = pay per click / view or whether my clients will prefer a flat fee for a period of time, i.e. a rate of R1000 per ad for 2 weeks etc. Your thoughts?
Grateful for your constructive advice.