For most small business owners, the budget is tight and the marketing dollars are even tighter. Sure, you’d love to run television spots every night doing the local news, but there’s no way you can afford that kind of investment.
What options do you have?
Here, we’ll take a look at four advertising strategies you can start employing when you’re on a tight budget.
Social Media Advertising
Are you aware of how ridiculously inexpensive social media advertising is? It’s also highly effective when you know your market and how to target them effectively.
For as little as $50, you can reach a targeted audience of thousands of potential buyers within your area. Best of all, you’re reaching your customers exactly where they spend their time — on their social media pages.
Smart Local TV Advertising
While you may not be able to afford primetime television advertising spots, you probably can afford audience targeted TV advertising services. This is where you use a selected budget to try to reach your target market at certain times of the day or night when they are most likely to be watching TV.
Talk with a local TV advertising rep and find out what options they have that you may be able to work with. Let them know your budget upfront, and they’ll do their best to work within it.
Partner with Other Small Businesses
How many other small business owners are in your circle of influence? Do they struggle with advertising budgets as well? The answer is probably yes.
Form mutually beneficial relationships with strategic small business owners where you can partner up in advertising campaigns.
This can be as simple as referring customers to each other’s locations after sales are made. Or, you can partner to create small business events that bring traffic in and around your stores that wouldn’t otherwise be there.
Think outside the box with this idea.
Advertise on Niche Podcasts
Niche podcasts have become extremely popular in recent years. While you may not be able to afford to advertise on a major podcast like the Joe Rogan Experience, you’ll surely be able to find small podcasts within your business’s niche that can help drive you qualified buyers.
This idea works best for online businesses. However, if you’re more of a brick and mortar business there might be local podcasts that you don’t even know about. Reach out and ask about their advertising rates.
With these four ideas, you’ll be able to breathe new life into your advertising strategy, even if your budget is tight.