Many times a small business owner draws a blank determining how to spend their advertising dollars. They have often never purchased ads before, have very little budget to work with, and haven’t a clue as to what’s available to them.
The fact is advertising is essential for a business to flourish, and for small businesses there are many more options than you might think.
Let’s get familiar with some of these, and why they might be a good source of leads for your business.
7 Places to invest your small business ad budget
Local Print Ads – This includes both newspaper and Magazine ads, along with any other sort of direct mail pieces. The cost of reaching 1000 people with these types of advertising ranges from $20-$32. A local paper may yield the best results, as it is going to the most targeted audience.
TV ads – A bit better return on cost per 1000, at $8. If your business can outstrip your local competition by adding TV to the mix, it’s worth looking at.
Radio interviews or ads – This one comes in at about $7 per 1000 people reached, and could be a viable option, particularly if you can interview or be interviewed by a popular local host or personality.
Facebook Ads – Probably the best deal out there, at $0.25 per 1000 reached, a Facebook ad campaign can provide your small business a far wider reach than you can create with most any other type of advertising.
Your Email list – Alert your customer email list to new products, promotions, sales and any other events that will get their interest. It is much easier to sell to a customer you’ve already sold to than to generate a new sale.
Local online ads – An economical way to generate local leads is by advertising on local business directories and on local sites that get a lot of traffic. These are easy to find in your local area.
Search Marketing – While this might seem the most for foreign to local small business owners, it is by far the best converting source out there. Outbound leads, like those who come from print or direct mail, convert at 1.7%, while search marketing leads convert at around 14.6%.