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Advertising
on a budget
Dear Small Biz
Adviser:
My husband and I just started our own business. On a small budget,
what is the best way to advertise and get our name out?
Pam
Dear Pam:
Your inquiry addresses a small-business issue critical in these
recessionary times. Regardless of the method of advertising you
choose, you must advertise:
- In the right media
- In the right place
- At the right time
- Frequently enough to be
remembered
- Within an affordable budget.
Choosing the right media is important. It must be
one visited by your target customers. For example, lawn maintenance
services do not place advertising on radio,
television,
in newspapers
or on the Internet. Why? People in need of lawn care typically will
check with a friend, neighbor or check the Yellow Pages. Likewise,
all lawn-care services post company names and phone numbers on the
sides of their trucks and trailers. This method is critical when
parked in front of a client's house, where neighbors will see the
service performed, talk to the neighbor and then give you a call
if they want the service.
Know your market and competition
Study the competition.
Do they advertise in the phone book, local newspaper or some other
media? Some businesses rely exclusively on referrals
and may limit their Yellow Pages ads to nothing more than a listing.
Others, like air-conditioning services will have big ads in the
Yellow Pages, especially those who advertise 24-hour emergency service.
These are the companies that will get the calls when a prospective
customer, sweating from head to toe in the middle of a 90-degree
Sunday afternoon, goes looking for a company that will answer the
phone on the weekend.
What is your geographic target market? If it is in
the local city and surrounding community, then your decision on
which media is a lot easier than if you service multiple counties
or a region. Again, pay attention to the best of your local competitors.
Timing is everything
Timing also is very critical. For example, if you have a retail
promotion, don't wait until the actual day to advertise the sale.
Many retailers will begin advertising the day before the sales event
in the local newspaper. In our air-conditioning service example,
it will focus most of its advertising in the middle of summer when
AC units are more likely to go out. What do they do in the winter?
You will see them advertise very little until the spring, promoting
the annual tune-up in preparation for the coming summer heat.
Have you ever wondered why an ad is played so repetitively
on the radio? Very simply, the company has to rely on your sense
of hearing. There will be a little musical jingle or saying that,
after repetitive play time, becomes embedded in your memory. You
start whistling the tune. Some times it gets so bad that you can't
even erase it from your mind.
Know your budget
You must also recognize your financial limits. Your inquiry clearly
demonstrates you have taken that into consideration. My philosophy,
when spending money, is very simply not to spend it unless that
expense is expected to result in an increase in revenue to cover
that expense and leave some left over for profit.
All small businesses with budget restrictions are
always trying to find a way to make the most of so little. Consider
some of the following:
- Try getting an interview on a local radio talk
show that addresses the types of products or services you offer.
Local talk shows have increased dramatically in the AM bandwidth.
- Pay membership fees to join
local organizations, such as the local Chamber of Commerce,
that offer you exposure to other businesses that use your type
of product or service. Familiarity breeds support. We feel so
much more comfortable knowing the person providing the product
or service. It makes us feel as if we have a little more control
over the end result of what is purchased.
- Offer free workshops or seminars that create the
opportunity to meet potential customers. People pay attention
to anything offered free of charge. Did you ever notice how many
financial services firms offer free seminars on investing, estate
planning and the like? They get to know their customers through
these sessions.
- Specialty advertising has always been a common
form of low-cost advertising. Company names, addresses and phone
numbers printed on pencils, pens, cups, caps, mouse pads and so
much more are intended to achieve repetitive exposure in a very
subtle way.
- Demonstrate your wares at local business exchanges
and exhibits. In many areas, Chambers of Commerce will hold annual
expos for their membership. More and more of those exhibits are
occurring in shopping malls. It works or they wouldn't be doing
it with more frequency.
I hope you have gotten a few ideas from these suggestions.
I wish you well.
-- Posted: Aug. 20, 2002
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