Advertising is an investment. It pays to research the vast number of advertising options available and choose those that are the most cost-effective for reaching your target customers. This article discusses some advertising methods that are within the budget of most small businesses.

Newspapers

Newspapers are the most inexpensive and commonly used advertising for small businesses with small marketing budgets. Because newspapers are generally printed daily, you can run a series of ads or change the ad for short-term special offers. Including a discount coupon can help you determine how many people responded to your ad. In smaller communities, inserts such as flyers, sample packs or even mini-CDs can also help you reach your potential customers.

Magazines

While advertisements are significantly more expensive to place than in other print media, magazines are targeted to specific reader demographics. Magazines also have a longer shelf life, so people may read them more than once as well as share them with other people. These ads require advance planning as the final artwork is often required two or more months before the publication date and there is no opportunity for last-minute changes.

Advertorials

An advertorial is an advertisement that is designed to look like a news story about the owners, product or service and the company. Pictures of products or staff members are often included. Regional newspaper readers love these pieces as they reflect favourably on local businesses.

Yearbooks and Community Events

Ads in yearbooks and event programs are particularly effective in smaller communities as they demonstrate your support. Advertising in a local soccer, baseball, or hockey program will help create top-of-mind awareness of your company and brand your business.

Business Cards

Business cards are so common that sometimes entrepreneurs take them for granted. Make your business card an effective marketing tool by including information about your products and services, but keep it the standard size. At a minimum your card should list your name, your company's name, your contact information, and something that gives the recipient an idea what your company does. Consider adding a map to your location or more details about your products or services on the back of the card.

Flyers and Circulars

Distributing flyers by hand or through a service can be done at a relatively low cost. The advantage is these can be very targeted. While this type of advertising is usually limited to the retail sector, other types of business can benefit from this approach. Make sure you include your company's name, address, telephone and fax numbers, website address and a small map of your location. To reduce printing costs, opt for double-sided printing.

Piggyback Flyers

Include brochures or flyers with your invoices and statements. These are particularly effective for giving customers advance notice of specials or announcing new products or services. Include product or service information, pricing, discounts and an order form and direct contact information. These not only increase the possibility of sales with little or no additional mailing costs, but also may provide an indicator as to whether the product line or service will be in demand.

Signage

Billboards, bus ads, even an advertisement on your company vehicle can be quite effective. Make sure the signage for your company clearly identifies your business, marks its location and conveys the right image. But most importantly, it should communicate what it is you are selling.

Website

Today's customers expect a business to have a website - it suggests legitimacy. A website lets your customers look up the information they need, when they need it. You do not have to spend a great deal of money to have a web presence but it is important to have a website that achieves your goals and objectives.

Make sure your website describes the product or service you offer and includes product images with specifications & prices, the location of your business, special offers and contact information - email, phone and fax. A “contact” link on your website lets customers contact you directly by email. You can also reduce your printing costs by posting electronic versions of catalogues, brochures and mailings on your site.

Be sure to include your website address on your business cards, letterhead, yellow pages and other advertising media.

Radio and Television

Radio and television ads are very effective as you can clearly target your audience by airing your commercial during specific programming. National TV advertising is beyond a small business' price range, but advertising on local radio stations and on cable television may be affordable. Contact the sales managers at the local TV and radio stations. Also talk to other businesspeople in your area about their experiences with broadcast advertising.

Consistency Matters

Make sure the name of your business, your logo, company colours, catch phrase, etc., are consistent on your signage, letterhead, business cards, print ads, sales collateral and your website.

Spending too much on advertising is wasteful, but spending too little can mean lost sales and lowered visibility. Develop a realistic budget and investigate your options carefully to ensure you reach your target customer. Generally the amount of advertising that you place in each advertising medium should be based on past experience, industry practice and ideas from media specialists. Be sure to keep an eye on the sort of media your competitors use. That is most likely where your potential customers look and listen.