Advertising Strategies for Small Business

Advertising Strategies for Small Business

If you own a small business, you know that you must be realistic about your advertising campaigns. Typically, you may be looking for effective, inexpensive solutions but realize that you can only have one or the other.

It’s imperative that you budget dollars for advertising and not just play with the money you have left over. Assign the right amount of money to the right channels and you can get the results you want, or at least improve the results you have, based on the data you gather along the way. By having budget, you’ll be better able to measure overall efficiency too.

  1. Target your audience
    Many small businesses don’t run adequately targeted campaigns, despite the fact that targeting is one of advertising’s primary advantages.Indeed, you should be able to create an accurate target customer profile based on the data you’ve collected. With this information in hand, and what you know about your current clientele, you can begin to target similar demographics and psychographics with your campaigns to attract more customers.
  2. Measure and track your advertising
    Countless small businesses simply have no idea whether their advertising is actually working. This simply won’t do.Many advertising vehicles provide you with extensive stats related to your ads, and will help you determine what is working and what isn’t. This doesn’t mean that you won’t need to test and experiment, as it can take time for you to create an ad that resonates with your target customers, but it does mean that you can make faster decisions about what to try next.
  3. Know when to advertise
    At first glance, advertising year-round and spreading out your budget equally month-to-month may appear to be a wise and commonsense approach.But if you think back to your business launch, odds are you did a lot of things that can’t be scaled. If you sell seasonal products, you should be advertising in your highest-performing seasons. You may even want to start a little bit early and hold some of your advertising until a little after.

    Finally, it can also be worthwhile to keep an eye on when your competitors launch their own big promotions. If you have an advertising budget set aside, you may be able to keep pace or even outmaneuver them.

  4. Brand well
    It’s important to speak to your customers with a consistent tone of voice. This will help reinforce the business’ character and clarify its offering so customers are aware of what to expect from the product or service.Don’t lose your pride or dilute your brand positioning with indiscriminate discounting. Try offering more, rather than slashing prices. Promotions are a great opportunity to reinforce your brand mission. Bottom line: brand well, and stick to your image. Build loyalty through familiarity.
  5. Use your resources well
    If you have the budget to advertise, but not the time to create content, this is not a good use of resources. If you only have a small budget to allocate to advertising, it may not make sense to take out an expensive print ad. A social media campaign would be more practical.Make an honest assessment of the resources available to you, and leverage them in a way that helps you grow your business
  6. Show up in the right places
    It’s dangerous to make too many assumptions about your target customer. For example, if there’s a certain radio show that you like, and you assume that your customers like it too, you may be misinformed about the wisdom of spending money on a radio ad there that could prove expensive and ineffective.If your advertising dollars are going to the wrong place, you’re wasting your money. Instead, you need to get to know your customers. When your advertising is matched with the right understanding of your customers, you’ll begin to attract more worthwhile leads to your business.

Final thoughts

There are plenty of opportunities to monetize through advertising. The key is in knowing who your target customers are, where they like to hang out — and thus where to find more people like them — and allocating your resources to those specific channels.

Advertising is not set-and-forget. You need to be strategic in the way you approach it, and amplify your marketing at the right times.

For more information on how to create an effective advertising campaign, contact Kim Mazel at 724-744-9807 or on www.mazelmediapittsburgh.com

Making the most effective use of your advertising budget.



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