An efficient way to deal with marketing obstacles such as low brand awareness, a declining customer base or heavy competition, is, without a doubt, advertising. You can use this tool to remedy a lack of brand awareness or simply drive traffic to your business and beyond. But let’s face the facts, advertising can get a bit pricey at times. Many businesses can’t afford a 30-second national television ad during a major sports game. But never fear! There are many affordable and cost-effective options that are available if you research and choose smartly. In fact, here are three types of advertising that can work with a smaller budget and won’t empty your pockets or your wallet:
Social Media – Ads on social sites such as Facebook, YouTube and Twitter are extremely cost efficient per click (or acquisition). While each social media platform caters to a different audience, and each platform has varying pricing structures, and requirements for ads, an ad that is targeted accurately can be very cost efficient.
Classified Ads – Classified ads are the perfect solution if you are looking to post openings for jobs or small tasks such as lawn mowing or handyman services. Classified ads could cost around $200 for a 30-day run, depending on the newspaper, or even less for a shorter duration in a smaller paper.
Event and Charity Sponsorships – Sponsoring local events such as high school sports, the arts, specific causes or charities can be relatively inexpensive. You can get a considerable amount of visibility beginning with as little as $500. Donate branded giveaway items at the event such as key chains, notepads or water bottles with your company logo at the cost of a few hundred dollars more. You’ll get not only business visibility but also the satisfaction of supporting your community or favorite cause.
Remember, the above advertising cost estimates are just that…estimates. There can be many different factors that can affect advertising costs, so always get accurate price quotes in advance.
Also, the most beneficial outcome happens by combining advertising with other marketing. For example, advertising your business along with hiring a DJ and providing food during the event, together with a publicity campaign targeting your local media and numerous postings and event invites on your social media platforms. You will get much more attention and traffic to your event than just by doing one or the other by itself. Now, get out there and start advertising your business all while saving money. Isn’t that a great concept?