More for Your Advertising Dollars
If you want to build sales, it is almost certain
that you need to advertise. But like many owner/managers, you may find there's a wide gap between what you would like to
invest in advertising and what you can actually afford.
Advertising is an investment. It pays to research
the vast number of advertising options available and choose those that are the most
cost-effective for reaching your target customers. This article discusses some advertising
methods that are within the budget of most small businesses.
Newspapers
Newspapers are the most inexpensive and commonly
used advertising for small businesses with small marketing budgets. Because newspapers are
generally printed daily, you can run a series of ads or change the ad for short-term
special offers. Including a discount coupon can help you determine how many people
responded to your ad. In smaller communities, inserts such as flyers, sample packs or even
mini-CDs can also help you reach your potential customers.
Magazines
While advertisements are significantly more
expensive to place than in other print media, magazines are targeted to specific reader
demographics. Magazines also have a longer shelf life, so people may read them more than
once as well as share them with other people. These ads require advance planning as the
final artwork is often required two or more months before the publication date and there
is no opportunity for last-minute changes.
Advertorials
An advertorial is an advertisement that is
designed to look like a news story about the owners, product or service and the company.
Pictures of products or staff members are often included. Regional newspaper readers love
these pieces as they reflect favourably on local businesses.
Yearbooks and Community Events
Ads in yearbooks and event programs are
particularly effective in smaller communities as they demonstrate your support.
Advertising in a local soccer, baseball, or hockey program will help create top-of-mind
awareness of your company and brand your business.
Business Cards
Business cards are so common that sometimes
entrepreneurs take them for granted. Make your business card an effective marketing tool
by including information about your products and services, but keep it the standard size.
At a minimum your card should list your name, your company's name, your contact
information, and something that gives the recipient an idea what your company does.
Consider adding a map to your location or more details about your products or services on
the back of the card.
Flyers and Circulars
Distributing flyers by hand or through a service
can be done at a relatively low cost. The advantage is these can be very targeted. While this type of advertising is usually limited
to the retail sector, other types of business can benefit from this approach. Make sure
you include your company's name, address, telephone and fax numbers, website address and a
small map of your location. To reduce printing costs, opt for double-sided printing.
Piggyback Flyers
Include brochures or flyers with your invoices and
statements. These are particularly effective for giving customers advance notice of
specials or announcing new products or services. Include product or service information,
pricing, discounts and an order form and direct contact information. These not only
increase the possibility of sales with little or no additional mailing costs, but also may
provide an indicator as to whether the product line or service will be in demand.
Signage
Billboards, bus ads, even an advertisement on your
company vehicle can be quite effective. Make sure the signage for your company clearly
identifies your business, marks its location and conveys the right image. But most
importantly, it should communicate what it is you are selling.
Websites
Today's customers expect a business to have a
website - it suggests legitimacy. A website lets your customers look up the information
they need, when they need it. You do not have to spend a great deal of money to have a web
presence but it is important to have a website that achieves your goals and objectives.
Make sure your website describes the product or
service you offer and includes product images with specifications & prices, the
location of your business, special offers and contact information - email, phone and fax. A "contact" link on your website lets
customers contact you directly by email. You can also reduce your printing costs by
posting electronic versions of catalogues, brochures and mailings on your site.
Be sure to include your website address on your
business cards, letterhead, yellow pages and other advertising media.
Radio and Television
Radio and television ads are very effective as you
can clearly target your audience by airing your commercial during specific programming.
National TV advertising is beyond a small business' price range, but advertising on local
radio stations and on cable television may be affordable. Contact the sales managers at
the local TV and radio stations. Also talk to other businesspeople in your area about
their experiences with broadcast advertising.
Consistency Matters
Make sure the name of your business, your logo,
company colours, catch phrase, etc., are consistent on your signage, letterhead, business
cards, print ads, sales collateral and your website.
Spending too much on advertising is wasteful, but
spending too little can mean lost sales and lowered visibility. Develop a realistic budget
and investigate your options carefully to ensure you reach your target customer. Generally
the amount of advertising that you place in each advertising medium should be based on
past experience, industry practice and ideas from media specialists. Be sure to keep an
eye on the sort of media your competitors use. That is most likely where your potential
customers look and listen. |
