09 May 5 Advertising Survival Tips for Small Business Owners
In today’s economic climate, small business owners are under continuous pressure to make a successful return on investment. State and national newspapers are filled with articles discussing the trials and tribulations of upstart companies, and it can be an intimidating world for those whose livelihood depend on the success of their business. It is key, then, that small business owners make the best use of advertising in order to reach as many people as possible and garner interest in their product. However, small business advertising is typically a very expensive commodity, and in a survival of the fittest, cut-throat economy, owners can often slash their marketing budgets in order to stay afloat. In order to help, we’ve put together 5 survival tips on how to make best use of small business advertising without risking your entire investment.
1. Online Advertising
Given our society’s ever-growing reliance on technology, one of the best small business advertising strategies is the online market. Recent figures indicate that Facebook, the world’s most popular social media application, has over 1.28 billion users – a great place to start attracting new customers! Granted, the vast majority of these users will be outside your intended market region, though it is highly likely that many of your potential customers will be active users. With the ability to like and share pages, Facebook and Twitter have replaced the need for traditional “word of mouth” advertising. Best of all, it’s completely free!
2. Local Media
Historically, local newspapers and radio stations have been the champions of small business. With a sphere of influence closely resembling your intended consumer base, they are a great place in which to place advertisements. Although more expensive than online advertising, you can be sure that your message is getting directly to the right people.
3. Building Connections
Although you may be interacting with significantly less people than the methods above, the interactions which you do have will be more personable. With free reign to pitch your product, building connections remains a great way to attract customers to your business.
Getting involved in your community, whether it be at charity events or seminars, allows you to advertise your business without adopting the ‘hard-sell’ mentality. The human psyche doesn’t respond well to overselling, so take advantage of the opportunity to subtly promote your business. It’s likely that your involvement will attract the attention of the local media – a win-win situation!
4. Offer Great Deals!
This may seem counterintuitive for those aiming to boost their profits, however it is a strategy employed by companies of all size. It is a long understood trait that we, as humans, love great deals. Whether it be a 2 for 1 offer, 25% discount, or even a taster session at a local restaurant, we love getting the maximum bang for our buck.
Take advantage of this buy enticing people to try your product at a reduced cost. If it lives up to the hype, you can be sure they’ll be back for more.
5. Advertising on a Company Vehicle
One of the most common trends in advertising is the use of vehicles. Whether it be the construction company who put logos on their van, or the hairdresser with their decorated car, you don’t have to go too far in order to come across one. As Americans spend a great deal of time on the roads, this is a great way in which to subliminally promote your business while investing minimal money.
Your company vehicle is likely sitting in the parking lot right now, so put it to good use!