If you’re a small business owner, and you’re trying to grow your
business, you know that every penny you spend comes straight out of
your pocket and directly affects your profit margin. You need to pay
attention to your bottom line, and that means you need to find
innovative, creative ways to get what you need.
When it comes to promoting your business, there’s a lot of truth in
the saying “It takes money to make money”.
How do you avoid spending a fortune on advertising while making sure
you get the results you want?
The Internet offers plenty of ways to advertise effectively, but there
are cost-effective ways to advertise offline as well.
Focus your advertising spend on your target market. Rather than trying
to sell to everyone, work out who your ideal customer is and create
your advertising just for them. Look for media that targets exactly
that market. You might look at neighbourhood newspapers or sponsor
advertising for schools or community projects.
If your customers can’t be defined by their geographic area, try
publications which specifically target their demographic.
Some monthly magazines offer discounted rates for repeated ads placed
over a 3 or 6 month time period. Some publications have different
rates for different types of advertisers. And sometimes, just asking
for a discount will be enough to get you one.
Try using classified ads. Look at some back issues of magazines or
newspapers you’re considering. Look out for ads which are repeated
month after month. These ads are repeated because they’re making the
advertiser money. When you’re writing your own ads, you can model them
on these effective ads.
It’s a good idea to test your ads. Start by placing them in cheaper
publications, until you find out what works and what doesn’t. Once
you’ve found an ad that works, keep using it. You can run it in more
than one publication at the same time, or repeat it in the same
publication. If you notice that sales decrease, it’s time to change
it.
You can re-use your ads in other advertising media. If an ad is
particularly effective, use the copy in a direct mail piece or on a
flyer.
Using a healthy mix between offline and online advertising and
actively searching for ways to extend your reach and minimize your
costs will help you to make sure that your advertising is working hard
on your behalf.
