Many of you are already spending money to advertise your business.
Advertising your small business is necessary if you plan to grow your business.
Unfortunately, most of you are simply throwing money at advertising.
If you have not read the section on Business Marketing, this would be a good time. It will help you to understand the importance of having an overall plan for investing in your business advertising. You can simply click here to open that section.
Now that you have read the Marketing section, you can begin to look at how you want to invest in the future of your business growth.
Basically, anything that you spend money to promote your business could be considered advertising. From hiring a sign spinner to stand on the street corner, to renting a billboard, to sending out flyers by mail or in a local magazine, to radio or television spots.
There are so many ways to advertise your business. As with marketing, all forms of advertising will work. Some will work better for you than others. There is no “best” advertising channel. There are of course guidelines that make your advertising work better.
In the marketing section, some of the guidelines were discussed such as:
Your Target Market
Simply put, your goal in advertising is to increase revenue.
You need prospects to turn into leads that convert to sales.
It sounds easy, and it can be… with some research and testing.
Once your “best” method of advertising is found, you can duplicate it anytime you wish. You can generate leads at will.
If you are like most small businesses, you think that by adding another form of advertising, you can increase your results.
And it may… a little.
The problem is that if your first attempt at advertising brings some results, you just copy it and spend more money.
You also may think that since one approach works that it will work in another form of advertising. Good luck
In the marketing section, you discovered that your prospects could be in different stages of the buying process.
- A radio or TV message to “buy now” would fail to reach someone in the early stages of research.
- They want to know more about you and your product or service.
- They want to visit your website to explore their options.
- They want to find out what others are saying about you (social proof)
- An invitation to visit your showroom or call for an appointment means little to someone who needs help now.
- They need to know how to get their problem solved immediately.
- Are you available 24/7? Weekends? Holidays?
- Can you schedule them today?
- A special offer (discount) will not make someone buy today if they are not ready.
- How will you stay in touch?
- Will your offer be good 6 months from now?
- What is your regular price?
Small Business Advertising is much more than handing your hard earned dollars to the next ad rep that contacts you.
Using the same ad over and over again without knowing how it can be improved is business suicide.
Then to copy the same in different forms is only a quicker way to fail.
Knowing the right messages…
In the right ad channels…
To the right prospects…
At the right times…
Is crucial to a growing business.
How much is a sale worth to you? A lead? A prospect?
How much does a sale cost you? A lead? A prospect?
The bottom line is this…
- If you spend $1,000 to make $1,000, you’re gonna starve.
- If you spend $1,000 and make $2,000, you’ll scrape by.
- If you spend $1,000 and make $5,000 you will survive.
- If you spend $1,000 and make $10,000 there’s hope.
- If you spend $1,000 and make… want to know what is possible?