An effective marketing plan is necessary for any business to stay afloat, but many traditional approaches are too expensive for small businesses. To successfully market your business you will need to find advertising strategies with maximum results for minimum payment. Sound too good to be true? With a little creative problem solving, persistence, and openness to new ideas, you can find the advertising spots and methods that will best benefit your company – without breaking your budget.
Look Past the Big Numbers
Many marketers yearn to see their company's name splashed across the magazines, television channels, and websites with the highest number of viewers or readers. These advertisement spots are shockingly expensive, and it's time to turn your attention and efforts elsewhere. Not only are high-number media outlets too pricey for most modest marketing budgets, they typically serve a very diverse audience. You may reach a large audience, but your conversion rate will be too low for the high cost.
Target a Specific Audience
Instead of worrying about the quantity of your audience, start focusing on the quality. Aim for smaller niche publications that specifically target the same consumers that you hope to reach. Even if their distribution numbers are a little lower, you will be advertising to potential customers who are far more likely to be interested in your products or services, and you will be spending far less money to do so.
Before purchasing advertising space, make sure you know your ideal customers well. Where do they live? What kind of jobs do they have? Hobbies, needs, desires? This information will lead you to the perfect advertising spots. Don't waste your carefully budgeted allowance in places that your customers won't frequent.
Find more ways to save by consulting our extensive network of marketers. Join AMA Tampa Bay today and connect with nearly 400 local professionals and 30,000 across the United States and Canada. Marketing students are also welcome to join.