Is Your Advertising Working Hard Enough?
As a small business owner, every dollar you spend is a
dollar that comes right out of your pocket and affects
your profit margin, especially when you're trying to grow
your business. If you're going to succeed, you have to pay
close attention to your bottom line and look for creative,
innovative ways to cut costs while still getting what you
need.
That old saying that it "takes money to make money" has
never been truer than when it comes to promoting your
business.
So when it comes to spending money on advertising, how do
you make sure that your advertising is working hard
enough, without spending a fortune?
Thanks to the Internet, you've got lots of options for
finding cost-effective advertising that does what it's
supposed to -- bring targeted customers who are hungry for
what you're selling, right to your door. But don't forget
about cost-effective offline methods as well.
Here are a few ideas to help you get started:
Focus your advertising dollars on your target market. The
tighter your niche, the better your chances of finding the
customers who are looking for exactly what you've got to
sell! So rather than going wide, and trying to sell to
everyone, narrow your focus, and then, if possible, narrow
it some more! Figure out who your "ideal" customer is, and
then create an advertising campaign for them. Once you
know who you're selling to, look for media that targets
that demographic. Depending on your product or service,
think community and neighborhood newspapers, high school
sponsor advertising, chamber of commerce directories, etc.
If your ideal customers aren't defined by a specific
geographic location, look at regional or specific
demographic publications. Perhaps a regional paper runs an
annual issue that focuses on an issue or activity that
reaches your target market. Use local cable television to
broadcast your ads only in certain markets. You'll get
cheaper rates and a more focused demographic.
Always ask for a discounted rate. (Many publications offer
an "agency" discount of up to 15 percent. If you are
acting as your own in-house advertising agency, you might
qualify for the special rate.
Some monthly magazines offer discounts for multi-ads
placed over a 3, 6 or 12 month time period. Most
publications have a different rate schedule for different
types of advertisers -- so depending on your product or
service, you could qualify. And if not, sometimes just
asking for the discount will give it to you.
Buy leftover space or airtime. This is advertising that
the publication, radio or television station hasn't filled
by their usual deadline. Of course you'll have to take the
spots that are available, but again, depending on your
business and the product or service you're selling,
that
inconvenience could still be worth the discount and the
exposure you'll receive.
Use classified ads. They're not just for employment offers
any more. You'll find classified ads in magazines and
newspapers. Before writing your ad, go to your local
library, and look through the back issues of the magazine
or newspaper that you're considering. Look at the ads that
catch your eye, or that are repeated month after month.
Those ads wouldn't be in there each month, if they weren't
making the advertiser money. Use those ads as springboards
for ideas when you're ready to start writing your own
classifieds.
Test your ads. Start out with the cheaper publications, so
you can find out what's working and what's not. Play with
them, and tweak them. Once you've got an ad that works,
keep using it. You can run it more than once, or in more
than one publication at a time. When it quits bringing in
customers, or you start noticing a drop in effectiveness,
then it's time to change it.
Do you own a retail business? If so, check into co-op
advertising funds that may be offered by your vendors. Co-
op programs provide joint advertising for your and your
vendor, and you'll get a portion of the cost of the ad
reimbursed because the ad mentions the vendor. (Note: most
Co-op programs have strict guidelines, so check with your
vendors and make sure you're following the rules).
Barter for goods and services. This can be especially
effective with radio stations and local papers. See if you
can provide your products or services in trade for the
cost of advertising. (Also called "trade" or "In-kind"
ads, the radio station or publication gives you the ad in
exchange for products or services of equal value, and then
uses those 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, get creative and think outside
the box!
Reuse your ads in other advertising medium. If you've got
an ad that's especially effective, or looks great, reuse
it in a circular, brochure, handout, flyer or direct mail
piece. Use the graphics on your Webpages.
Finding a healthy mix between online and offline
advertising, looking for ways to extend your reach and
your advertising dollar, and cutting costs creatively will
help you ensure that your advertising is working hard for
your success.
About the Author
With too much factory experience and experience in Marketing and Advertising, Annette Lucas knew she wanted her own business. She found just what she was looking for with AmeriPlanUSA. To see if AmeriPlan's opportunity is right for you, check out http://www.freedomathometeam.com/40290308
Written by: Annette Lucas
|
