The Most Cost Effective Advertising Techniques for Your Small Business

Nemanja Manojlovic By Nemanja Manojlovic, 26th Mar 2018 | Follow this author | RSS Feed | Short URL http://nut.bz/3gf6be9k/
Posted in Wikinut>Business>Sales & Marketing

We will provide you with some affordable techniques that you should use in order to attract new customers, reach your target market, and maintain competitiveness in the long run.

Intro

If you are running a small business and have a limited budget, effective advertising might seem difficult at first. That is why the majority of small business owners often simply rely on word of mouth, which is a free technique, but a very slow one, especially for those who have just started and are trying to make an impact.

If you want to get recognized and to grow customer base quickly, you need to advertise. Luckily, advertising doesn’t need to be pricey at all. In this article, we will provide you with some affordable techniques that you should use in order to attract new customers, reach your target market, and maintain competitiveness in the long run.

1. Newspapers

Local newspapers are an affordable way to advertise your business and target specific demographics. This way, you can reach niche audiences, which are usually hard to reach via other mediums. Moreover, this type of advertising is very flexible and affordable.

You can choose the location and the size of your ad, as well as its design, and the time and frequency when it will appear to ensure that all the readers see the same information, in the same location, and in the same format.

Although there might be a significant decline in readership, newspapers still reach more adults than TV shows, for instance. To be more precise, according to Mansi Media, around 75 percent of households which have incomes higher than 100,000 USD read newspapers on a regular basis. Based on their incomes, these households have a great purchasing power, so they are likely to be influenced by such ads.

2. Direct mail

Direct mail advertising refers to sending promotions and offers via mail to your targeted audience. It most commonly includes a brochure, a sales letter, prepaid envelope, and an order form. One of the biggest benefits of this type of advertising is that it is highly targeted – you can buy mailing lists of potential customers from a mailing list distributor.

Moreover, it is very affordable. You can create an eye-catching design for your brochures on your computer for free, and then have them printed at a low price. What is more, if you want your direct mail advertising to be even more effective, you can include some free samples of the products or vouchers for some of your services as well.

3. Email

Email advertising is a great option when you have a developed in-house mailing list or a chance to create one. Since pretty much everyone uses email today, you can customize your content to match specific customer groups or individuals that might be interested in what you have to offer.

Compared to traditional telephone marketing, email is much less intrusive. Moreover, it can save you some valuable time since you will be able to send emails according to the users’ past activities on your company’s website.

4. Magazines

Much like newspaper advertising, magazine advertising gives you an ability to target the right audiences and it has a long lifespan. According to Entrepreneur, you can have a high-quality magazine ad for around 500 USD, making it one of the most affordable forms of advertising.

You can also choose different design options to meet your preferences, decide where you want to place it, and decide on its form – whether it will be a small article, a survey, or a discount code.

5. Signage

Signs serve as a great way to spread a word about your business and thus attract new customers. In fact, according to numerous surveys, the majority of customers wouldn’t have found out about a business unless they’ve seen a sign about it.

Moreover, studies have shown that people are more likely to remember a business if they see a sign than when they see it advertised on TV. Also, there are numerous options to choose from – whether you will go for a billboard, vehicle wraps, banners, electronic signs, window graphics, and lettering etc. The best choice for you will depend on your branding strategy, of course, so its best to plan things out thoroughly.

6. Trade shows

Taking part in trade shows related to your business can help you to be seen. Participating in large trade shows can be very costly, however, you can attend smaller shows which have numerous benefits for your company.

Every trade show that you attend, regardless of its size, is the best opportunity to expand your customer base. You will have an ability to generate lucrative business leads, get an insight into what is working well in the industry and what’s not, develop your brand, and close sales easier, since the majority of trade shows visitors have one goal in mind – to purchase.

7. Social media

In a world where almost everybody has at least one social media platform account, it is needless to say that this is one of the best places to advertise your business.
Social media marketing can help you increase your brand awareness, gain more inbound traffic, improve search engine rankings, get higher conversion rates, improve brand loyalty, and increase customer satisfaction by giving you an opportunity to interact with them.

Conclusion

As you can see, good advertising doesn’t need to be expensive at all. Nowadays, when you have a vastness of options to choose from, you don’t need to spend a fortune in order to get recognized. Don’t hesitate to dedicate your time on trying out all of the above-mentioned advertising techniques as they are some of the most cost-effective but also efficient ones to help you become and maintain relevant for a long period of time.

Tags

Advertising, Marketing Strategies, Small Businesses

Meet the author

author avatar Nemanja Manojlovic
I am an enthusiastic researcher from Podroom Creative who likes to focus his attention on topics ranging from martial arts, weight loss, fitness and cooking, to motivation and productivity.

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