Typically small business owners tend to be a “Jack of all trades”. They just don’t have the staff, dollars, or time to become expert at all the underlying functions of their business. Advertising is one of those areas where a small business owner may struggle to get their head around.
The choices as to where an advertising budget can be spent are numerous, with each advertising medium having their own advantages and disadvantages, and vastly different levels of relevancy and suitability.
Many small business owners often have never purchased ads before, have very little budget to work with, and haven’t a clue as to what’s available to them.
The truth is advertising is essential for a business to prosper, and for small businesses there are many more options than you might imagine.
Let’ acquaint you with some of these, and why they might be a good source of leads for your business.
7 Places to spend your small business ad budget
Local Print Ads – This includes both newspaper and Magazine ads, along with any other sort of direct mail pieces. The cost of reaching 1000 people with these types of advertising ranges from $20-$32. A local paper may yield the best results, since it is going to the most targeted audience.
Cable television ads – Costing around $8 per 1000 people reached, if you have a product or service that would lend itself to being showcased in a more visual fashion, this might be for you.
Radio interviews or ads – This one comes in at about $7 per 1000 people reached, and could be a viable option, particularly if you can interview or be interviewed by a popular local host or personality.
Facebook Advertising – A terrific bargain at roughly $0.25 per 1000 people reached, Facebook ads can give your business a reach that it wouldn’t be able to generate elsewhere.
Your Email list – Alert your customer email list to new products, promotions, sales and any other events that can get their interest. It is much easier to sell to a customer you’ve already sold to than to generate a new sale.
Local Website ads – Placing an ad on local business directory sites, as well as other local sites that get a lot of traffic is a good way to generate leads for your business. It can be surprisingly economical too.
Try Search Marketing – Probably the path of least appeal when it comes to small business owners, as they may not know enough about it. However, this fact may change their minds: Outbound leads such as print ads or direct mail convert at a rate of 1.7%, whereas search marketing leads come in at a robust 14.6%! Is that enough to allay some fears?
There are many ways in which a small business owner can spread their message. No longer is it only about the traditional advertising methods. Digital and online advertising has given the business owner incredible choice about where their advertising dollars may be spent. Making this choice wisely is all about having the right advice or knowledge at hand.
