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If you are operating a small business with a limited advertising budget, it can be a real challenge to not only decide where to advertise and market your products and services, but also how to evaluate whether your advertising is bringing in clients and customers. Any marketing professional will tell you that there is a certain amount of guess work involved in trying to develop successful advertising strategy, but there are things a small business owner can do to try to make sure those advertising dollars are stretching as far as possible.
It is important for small businesses to get a very clear picture of who the client or customer base for your goods and services is. A great deal of money and effort can be wasted on advertising that isn't even reaching the people most likely to patronize your business. Just because you have newspaper, television and radio in your town doesn’t mean that is the most effective way to reach your target demographic. Find out exactly who your customer is first, and then you can start to identify the best way to reach out and connect with them.
Develop a way to ask people how and where they are hearing about your business. This seems so simple and this is why various types of businesses try to capture this information either through customer service questionnaires, coded coupons, or just by asking customers directly how they heard about the product or service. Don’t be afraid to ask, it’s the best way to find out whether people are seeing your advertising efforts or hearing about your business from other customers. This will help you to determine where to spend the advertising dollars.
Don’t be afraid to try new things and think out of the box. Some businesses have had surprisingly good results from various forms of advertising--partnering with charity events or projects, sponsoring activities at a school, advertising in playbills and programs, cooperative advertising with different businesses who cater to a similar demographic, advertising in specialty publications, etc. Trade magazines and professional newsletters and websites can be a great way to get the word out. Web advertising is a fast-growing form of publicity and may be cheaper than some of the more traditional forms (it can also be possible to gather specific demographic information from various types of web marketing and advertising.)
One mistake many small businesses make is that they do not develop a marketing plan, nor do they keep track of how and where advertising and public relations efforts are being directed. It is important to develop a plan that works with the overall growth plan of the business--then you can evaluate whether your marketing efforts are helping you accomplish that plan or not. Keeping accurate records also helps you to avoid repeated a previous mistake or continuing an advertising method that isn’t getting the desired results. Ask for updates and reports from the places with whom you are advertising. If the demographic or population being reached changes, you can make an educated decision to shift your own advertising efforts. The data you request and receive can be pretty specific and this will help you to see if your business advertising is headed in the right direction, or missing the mark.
