Small Budget Big Results
Small Budget Big Results
gave Andrew Fischer of Omaha, Neb. over $37,000 for one month of advertising space on his forehead. While there are plenty of people willing to rent their body parts in exchange for lucrative advertising dollars, there are more effective ways to get your message across.
It's easier to create a brand when you're a big business. In 2007, consumer products powerhouse Proctor & Gamble spent more on U.S. advertising than any other company by dropping $2.62 billion on their campaigns. However, no matter the size of your company or your budget, you can afford to effectively advertise
your goods and services.
Get Strategic
There's no wrong time to advertise your business, according to "Mr. All Biz" Steve Strauss, best-selling author, syndicated columnist, lawyer and acclaimed speaker. "There are three kinds of customers: new, existing and customers who leave," Strauss said. "Almost all businesses at any time have a mixture of all three. You almost consistently have to advertise because you have to replenish that group that's leaving. Having a small business is not unlike being alone in a dark room. You know you're there, but no one else does."
While it is more challenging as a small business owner, the secret to successful advertising is that you have to be more efficient, stated Strauss. "The first thing that I would suggest business owners do is poll their own customers," he said. "Find out what they read, what they watch on TV, what they listen to, and that will give you a good idea of where you want to advertise. Be really smart about how you use your advertising dollars."
Strauss added that there are all sorts of inexpensive advertising and marketing ideas. One inexpensive method of building your business that Strauss suggests is overnight radio ads. Many radio stations undersell overnight ads, so you can get them at a significantly discounted rate. You can get overnight 60-second spots for as little as $5 or $10, according to Strauss. If your business is having a big sale or promotion, you can buy $500 of overnight ads and run 50 ads over the course of a week.
According to Tom Egelhoff of SmallTownMarketing.com, advertising should always be an investment, not an expense. "The type of advertising you do will depend on the type of promotion you're doing or the amount of customers that you want to bring into your business," he said. "Say you're having a weekend sale, you might do a large ad in the newspaper and a blitz ad on the radio. Some advertising, however, can be counterproductive. For example, if you offer free food or gifts, people might just come in to pick up the free stuff and not become customers. You really have to think it through."
Establish a Presence
"Big mass media advertising is going to cost a whole lot more and you won't be able to effectively do any kind of TV or newspaper advertising with a small budget," said Strauss. As an alternative, Strauss suggests Internet advertising as another avenue worth looking into. "Today, 80 percent of all people spend as much time online as they do watching TV. Advertising online is so much less expensive and you can target your dollar specifically to what you are selling." More and more people are going online to search for products, and oftentimes, having a great search engine optimization (SEO) website or a small Google ad can really make a big impact at a small cost, he added.
Depending on where you live, you can even do some advertising on your own just by being active in your community, according to Egelhoff. "Get involved in your church and local civic groups and talk to them about your business and the effect it could have on their lives," he said. "Contractors or those in similar fields can park their vehicles in high-traffic areas when they are closed so that their business will get some exposure. Also, everyone within walking distance of your home should have your business card. Meet your neighbors, tell them what you do and give them your business card, because a lot of times people like to buy from their neighbors. I also include my business card with every bill that I pay, because whoever opens that bill may need my service."
It also doesn't hurt to check out what methods of advertising your competitors are employing. "You really have to research your specific industry. Certain industries, such as locksmiths, have to be in the Yellow Pages," said Strauss. He suggests reading trade magazines and going to a trade website to find out what kind of advertising other similar businesses do. "You can even find a very successful business similar to yours in another city and go pick the brain of the owner to find out what he does. There's no need to reinvent the wheel, just copy success."
Advertising may not be right for every small business, however, according to Kim T. Gordon, president of National Marketing Federation, Inc. "There are many types of businesses that don't need to advertise, but they must market," she said. "They may use public relations, e-mail or direct mail marketing, whereas advertising is generally used to reach cold or warm prospects through media that is surrounded by editorial. For someone that has a retail operation that wants to reach consumers, advertising to their target audience in the target media will work."
What to Watch Out For
There are some bad advertising moves that all businesses should avoid, according to Gordon. "The single biggest mistake is when the advertisement doesn't present a strong enough benefit to your target audience," she said. "The benefit has to be something you know your target audience is eager to achieve and there should be a simple way for them to achieve that benefit. Too often, business owners put up barriers that affect sales. For example, placing an ad, but when customers call during regular business hours, they get a voicemail; or, an online ad that doesn't go straight to your landing page."
Another mistake small business owners make is that they tend to fall into old habits with their advertising and they are scared to try something new, such as e-marketing, said Strauss. "I just heard recently that half of all small businesses don't have a website," he said. "You really have to have a fantastic website; it doesn't have to be [difficult]. You can create a free website for your business with Microsoft Office Live Small Business. What you don't want is a website that looks like your teenage daughter created it." Strauss added that more and more people are going online to check out a business before they patronize it. "Because of the Internet, any small business can look as professional and big as a major corporation."
Advertising can't always save a business either, according to Egelhoff. "Advertising takes time to work. Even if you go out and do some advertising for your business, it may be too little, too late. Every day, somebody needs to purchase something and if you're not visible, whoever is will get the bulk of the business. The biggest mistake business owners make is when business starts to slow down, they cut advertising when they should keep it the same and keep it consistent."
Although you may be on a budget diet, there are plenty of ways to satisfy your advertising appetite. If you take time to plan your strategy and make good decisions, you’ll find you don’t have to spend a lot of money to get the most advertising for your dollar.
Affordable Ad Design
Rather than hiring an ad agency, which typically costs thousands of dollars upfront for creative design, companies like AdReady and MediaBids are making it easier for small businesses to stay competitive in the advertising arena.
AdReady
Jim Lanier of Lanier Pens was introduced to AdReady, a company that lets you create customized online ads, about six months ago. "What was attractive about AdReady is that we can include photos of our product in the Web ad," Lanier said. "As a manufacturer of fine writing instruments it's kind of hard to sell our product when people can't see a picture of what they are buying. Not everyone wants to buy something from just a text ad."
When he first started using AdReady, Lanier used one of their formats for his ads and plugged in his information. He later went to a graphic artist and had him make a package of nine different jpeg files to run with his ads. "For me, AdReady was the advertising option that I was missing." he said. "It seems like a large share of our sales from our website come from AdReady. When people place orders, we can actually track what website they were redirected from." adready.com
MediaBids
Since he's started using MediaBids, the world's largest print advertising marketplace, Mike Marenick, president and CEO of L'Avenir SkinCare has saved as much as 75 percent on his magazine advertising. "I've been using MediaBids for about a year now, and the one thing that I like is that they don't try to push me into only buying ads for a special they might have going on," he said. "The range of publications they have is so broad. My rep has gotten me into a range of magazines, including Golf and Allure."
Marenick added that he always thought L'Avenir's market was beauty or some type of fashion publications, but he's found that just by getting out there into the general public magazines, the company has been able to expand its market as well. mediabids.com
Small Budget Big Results - To learn more about this author, visit Lynn Celmer's Website.
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The Golden Palace Casino paid South Carolina resident Amber Rainey $4,000 to advertise on her pregnant belly. The SnoreStop Company
gave Andrew Fischer of Omaha, Neb. over $37,000 for one month of advertising space on his forehead. While there are plenty of people willing to rent their body parts in exchange for lucrative advertising dollars, there are more effective ways to get your message across.
It's easier to create a brand when you're a big business. In 2007, consumer products powerhouse Proctor & Gamble spent more on U.S. advertising than any other company by dropping $2.62 billion on their campaigns. However, no matter the size of your company or your budget, you can afford to effectively advertise
your goods and services.
Get Strategic
There's no wrong time to advertise your business, according to "Mr. All Biz" Steve Strauss, best-selling author, syndicated columnist, lawyer and acclaimed speaker. "There are three kinds of customers: new, existing and customers who leave," Strauss said. "Almost all businesses at any time have a mixture of all three. You almost consistently have to advertise because you have to replenish that group that's leaving. Having a small business is not unlike being alone in a dark room. You know you're there, but no one else does."
While it is more challenging as a small business owner, the secret to successful advertising is that you have to be more efficient, stated Strauss. "The first thing that I would suggest business owners do is poll their own customers," he said. "Find out what they read, what they watch on TV, what they listen to, and that will give you a good idea of where you want to advertise. Be really smart about how you use your advertising dollars."
Strauss added that there are all sorts of inexpensive advertising and marketing ideas. One inexpensive method of building your business that Strauss suggests is overnight radio ads. Many radio stations undersell overnight ads, so you can get them at a significantly discounted rate. You can get overnight 60-second spots for as little as $5 or $10, according to Strauss. If your business is having a big sale or promotion, you can buy $500 of overnight ads and run 50 ads over the course of a week.
According to Tom Egelhoff of SmallTownMarketing.com, advertising should always be an investment, not an expense. "The type of advertising you do will depend on the type of promotion you're doing or the amount of customers that you want to bring into your business," he said. "Say you're having a weekend sale, you might do a large ad in the newspaper and a blitz ad on the radio. Some advertising, however, can be counterproductive. For example, if you offer free food or gifts, people might just come in to pick up the free stuff and not become customers. You really have to think it through."
Establish a Presence
"Big mass media advertising is going to cost a whole lot more and you won't be able to effectively do any kind of TV or newspaper advertising with a small budget," said Strauss. As an alternative, Strauss suggests Internet advertising as another avenue worth looking into. "Today, 80 percent of all people spend as much time online as they do watching TV. Advertising online is so much less expensive and you can target your dollar specifically to what you are selling." More and more people are going online to search for products, and oftentimes, having a great search engine optimization (SEO) website or a small Google ad can really make a big impact at a small cost, he added.
Depending on where you live, you can even do some advertising on your own just by being active in your community, according to Egelhoff. "Get involved in your church and local civic groups and talk to them about your business and the effect it could have on their lives," he said. "Contractors or those in similar fields can park their vehicles in high-traffic areas when they are closed so that their business will get some exposure. Also, everyone within walking distance of your home should have your business card. Meet your neighbors, tell them what you do and give them your business card, because a lot of times people like to buy from their neighbors. I also include my business card with every bill that I pay, because whoever opens that bill may need my service."
It also doesn't hurt to check out what methods of advertising your competitors are employing. "You really have to research your specific industry. Certain industries, such as locksmiths, have to be in the Yellow Pages," said Strauss. He suggests reading trade magazines and going to a trade website to find out what kind of advertising other similar businesses do. "You can even find a very successful business similar to yours in another city and go pick the brain of the owner to find out what he does. There's no need to reinvent the wheel, just copy success."
Advertising may not be right for every small business, however, according to Kim T. Gordon, president of National Marketing Federation, Inc. "There are many types of businesses that don't need to advertise, but they must market," she said. "They may use public relations, e-mail or direct mail marketing, whereas advertising is generally used to reach cold or warm prospects through media that is surrounded by editorial. For someone that has a retail operation that wants to reach consumers, advertising to their target audience in the target media will work."
What to Watch Out For
There are some bad advertising moves that all businesses should avoid, according to Gordon. "The single biggest mistake is when the advertisement doesn't present a strong enough benefit to your target audience," she said. "The benefit has to be something you know your target audience is eager to achieve and there should be a simple way for them to achieve that benefit. Too often, business owners put up barriers that affect sales. For example, placing an ad, but when customers call during regular business hours, they get a voicemail; or, an online ad that doesn't go straight to your landing page."
Another mistake small business owners make is that they tend to fall into old habits with their advertising and they are scared to try something new, such as e-marketing, said Strauss. "I just heard recently that half of all small businesses don't have a website," he said. "You really have to have a fantastic website; it doesn't have to be [difficult]. You can create a free website for your business with Microsoft Office Live Small Business. What you don't want is a website that looks like your teenage daughter created it." Strauss added that more and more people are going online to check out a business before they patronize it. "Because of the Internet, any small business can look as professional and big as a major corporation."
Advertising can't always save a business either, according to Egelhoff. "Advertising takes time to work. Even if you go out and do some advertising for your business, it may be too little, too late. Every day, somebody needs to purchase something and if you're not visible, whoever is will get the bulk of the business. The biggest mistake business owners make is when business starts to slow down, they cut advertising when they should keep it the same and keep it consistent."
Although you may be on a budget diet, there are plenty of ways to satisfy your advertising appetite. If you take time to plan your strategy and make good decisions, you’ll find you don’t have to spend a lot of money to get the most advertising for your dollar.
Affordable Ad Design
Rather than hiring an ad agency, which typically costs thousands of dollars upfront for creative design, companies like AdReady and MediaBids are making it easier for small businesses to stay competitive in the advertising arena.
AdReady
Jim Lanier of Lanier Pens was introduced to AdReady, a company that lets you create customized online ads, about six months ago. "What was attractive about AdReady is that we can include photos of our product in the Web ad," Lanier said. "As a manufacturer of fine writing instruments it's kind of hard to sell our product when people can't see a picture of what they are buying. Not everyone wants to buy something from just a text ad."
When he first started using AdReady, Lanier used one of their formats for his ads and plugged in his information. He later went to a graphic artist and had him make a package of nine different jpeg files to run with his ads. "For me, AdReady was the advertising option that I was missing." he said. "It seems like a large share of our sales from our website come from AdReady. When people place orders, we can actually track what website they were redirected from." adready.com
MediaBids
Since he's started using MediaBids, the world's largest print advertising marketplace, Mike Marenick, president and CEO of L'Avenir SkinCare has saved as much as 75 percent on his magazine advertising. "I've been using MediaBids for about a year now, and the one thing that I like is that they don't try to push me into only buying ads for a special they might have going on," he said. "The range of publications they have is so broad. My rep has gotten me into a range of magazines, including Golf and Allure."
Marenick added that he always thought L'Avenir's market was beauty or some type of fashion publications, but he's found that just by getting out there into the general public magazines, the company has been able to expand its market as well. mediabids.com
Small Budget Big Results - To learn more about this author, visit Lynn Celmer's Website.
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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John AlexanderJohn has taught keyword research and SEO skills to small groups of business owners and Webmasters from over 80 different countries world wide since 2002. John is also the Director of Search Engine Academy ; Co-director of Training at Search Engine Workshops offering live, SEO Workshops with his partner SEO educator Robin Nobles, author of the very first comprehensive online search engine marketing courses at SEO Training Online and the SEO Workshop Resource Center. I look forward to hearing from you! - Visit John Alexander's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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