As a small business owner, every dollar spent is a dollar that comes right out of his pocket and affects their profit margin, especially when you're trying to grow your business. If we are to succeed, you have to pay close attention to the results and find creative, innovative ways to cut costs while still getting what you need.
That old saying that "takes money to make money" has never been more true than when it comes to promoting your business.
So when it comes to spending money on advertising, how do you ensure that your advertising is working hard enough, without spending a fortune?
Thanks to the Internet, you have plenty of options to find cost-effective advertising that does what it is supposed to - provide target customers who are hungry for what you're selling, right to your door. But do not forget cost-effective ways online as well.
Here are some ideas to get you started:
Focus your advertising budget in your target market. The tighter your place, the better your chances of finding customers searching for what you have to sell! So instead of going wide, and trying to sell to everyone, narrow your focus, and then, if possible, close some more! Find out who your "ideal" customer is, then create an advertising campaign for them. Once you know who you're selling, find the media that targets this demographic. Depending on the product or service that the community and neighborhood newspapers, the high school sponsor advertising, chamber of commerce directories, etc.
If your ideal clients are not defined by a specific geographical location, look at regional or specific demographic publications. Perhaps a regional paper runs an annual issue that focuses on one topic or activity that reaches your target market. Use local cable television to spread their ads only in certain markets. You'll get cheaper rates and more focused demographic.
Always ask for a discount. (Many publications offer an "agency" discount of up to 15 percent. If you are acting as your own house advertising agency, you may qualify for special rate.
Some monthly magazines offer discounts for multiple ads over 3, 6 or 12 months time. Most publications have a price list for different types of advertisers - so depending on your product or service, you may qualify. And if not, sometimes just asking for the discount will give it.
purchase extra space and connection time. This is advertising that the publication, radio or television station has not been filled by the usual period. Of course, you have to take the points that are available, but again, depending on your business and product or service you are selling, it is still not be worth the discount and the exposure you receive.
Use ads. They are not just for employment offers more. You'll find the ads in magazines and newspapers. Before writing your ad, visit your local library and look through back issues of the magazine or newspaper that you are considering. Watch the ad that catches your attention, or that are repeated month after month. Ads will not be there every month, if they are not making the advertiser money. Use the ads as a springboard for ideas when you're ready to start writing your own classifieds.
Test your ads. Start with the cheapest publications, so you can find out what works and what does not. Play with them, and adjust them. Once you have an ad that works, keep using it. You can run more than once, or more than one publication at a time. When closed to bring clients, or you start noticing a decline in effectiveness, then it's time to change it.
Do you own a retail business? If so, check into cooperative advertising funds that may be offered by their suppliers. Co-op programs provide joint advertising for you and your supplier and get a portion of the cost of the ad reimbursed because the ad mentions the seller. (Note: most Co-op programs have strict guidelines, so check with your suppliers and make sure you are following the rules).
The exchange of goods and services. This can be especially effective with radio stations and local newspapers. See if you can afford your products or services in trade for the costs of advertising. (Also called "trade" or "in kind" ads, radio station or publication of the notice given in exchange for goods or services of equal value, and then use the products or services as part of a promotion or contest for their listeners or readers). This can also be a great way to get additional free publicity, so if you decide to try this method, be creative and think outside the box!
Reuse of the ads in other advertising medium. If you have an ad that is particularly effective, or looks very good, re-use in a circular, pamphlet, brochure, flyer or direct mail piece. Use graphics in your web pages.
Find a healthy mix between online and offline advertising, seeking ways to expand their reach and advertising dollars, and cut costs in a creative way will help ensure that your advertising is working hard to achieve success.
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