- For new businesses, finding money for advertising can be quite difficult due to various other expenses that affect new and smaller businesses.
- Some methods of advertising on a small budget are using pay-per-click services, organic searches and permission-based email campaigns.
- Additionally, you can also use sites such as Reddit, Quora and Google My Business as a free/ low-cost method of advertising your business.
Once you get your business off the ground, there may not be much money left over for advertising. Traditional print advertising, direct mail and even phone book advertising can be very expensive and hard to customize.
"The internet offers huge opportunities for small businesses to get local advertising very inexpensively,” said Rick Whittington, president of Rick Whittington Consulting in Richmond, Va. "Google, Yahoo and Bing all allow you to list your business locally for free. That's the first thing I recommend businesses do."
Once you've registered your business for free on those search engines, there are many other relatively inexpensive things you can do to get customers to your business.
Pay-per-click search engine advertising, in which you create an account and pay each time a customer searches for certain phrases, finds your web site and clicks through to visit you, can be very inexpensive. Each click can cost you as little as a penny.
Whittington cautioned that it's important to be very specific with the search phrases that you specify and are willing to pay for. Using terms that are too general, such as "wedding gift" could result in too many people clicking through to your web site only to discover that you do not sell what they are looking for. More specific multiword terms, such as "environmentally friendly wedding gifts" result in fewer clicks, but those you do get will be from customers more likely to buy what you're selling.
In addition to pay-per-click, there are things you can do to raise your company's standing in the nonpaid (also called "organic") search engine listing.
Frequently referred to as SEO (search engine optimization), there is a whole industry of consultants built around this concept. There are a few things you can do on your own to improve your organic search engine listings and, therefore, drive customers to your site.
To improve your search engine standing, you should continually update your site with new information and blog posts, Whittington told BusinessNewsDaily. Continuing to update your site with relevant information will get you repeatedly noticed by search engines.
Permission-based email (meaning the customer agrees to allow you to send email offers) also offers an opportunity for a high return on investment, said Tom Fauls, associate professor of advertising at Boston University's College of Communication.
Fauls said you can collect emails via your web site or the old-fashioned way by collecting them manually as you interact with customers. Either way, permission-based email allows you to keep in touch with your customers, make special offers and keep your business on their minds.
Social media outlets, including Facebook, Twitter and YouTube, are venues that allow you to target very specific groups of customers for very little investment. You can create a Facebook profile for free and post videos on YouTube, also free of charge. You can also create very specifically targeted Facebook advertising for a small fee.
Be warned, however: If you are not familiar with social media, learning to use these sites can take time, and using them regularly can be time-consuming. Success depends on many factors, including whether or not your potential customers are the type who use these services and how effective you are (think talent and time) at using them.
Additionally, there are various other free or low-cost marketing tools that businesses can use for advertising purposes. Here are a few:
Quora: For those who are yet unfamiliar, Quora is a website where people ask questions or answer questions for others. According to the Social Media Examiner, Quora can be a useful method of marketing, as long as your clients are already on the site. For instance, if you sell T-shirts and you find people asking questions about where to find the best T-shirt retailers, you can then advertise your company by answering the question and providing a link to your business.
Reddit: Reddit consists of a collection of forums that users can post and comment on. According to Hootsuite, to advertise on Reddit, businesses can use promoted posts and display ads.
Google My Business: Google My Business is a free tool that allows businesses to manage their online presence across the entire Google platform. According to Hootsuite, Google My Business can increase the visibility of your business. Additionally, this tool also allows users to add useful information about their company and display reviews from customers. Moreover, using this tool can also help to lower the cost of Google ads.
- Influencer networking: And, last, consider using influencer networking, or networking with those who have large followings on various social media platforms. According to Intechnic, to successfully use influencer networking to promote your business, you must find and follow influencers that are in your industry. Reach out to these influencers directly and provide the influencers with some benefit of being affiliated with your company and helping to market your products or services.