In the modern era, a business is not just about having a good offering. A crucial factor for success is that the product must also reach its target audience, in the best possible way. And thankfully, we have a great way of doing this, which is advertising.
All kinds of businesses understand the need for advertising whether digital advertising or traditional offline ad, but advertising is a bit tedious process for small businesses as they have very limited funds. With their tight budgets, a small enterprise can either invest in increasing the quality of its product or can put its money in advertising, but not both.
So to solve this problem, we bring you 6 smart advertising strategies that are both affordable and effective. If executed properly, these strategies can give an extra edge to your business.
Top 6 Advertising Strategies For Small/Local Business
Build a Brand Image and Stay Loyal to It
The first step is to get a proper and appealing brand name to attract people. Many a times, businesses get ignored due to ordinary brand names. On the other hand, a unique logo or brand name attracts instantly and persists in the mind of the customer, which is actually a great mode of advertising. Therefore, first invest some thought and time onto your brand name, tag line and logo.
Along with being effective, the brand name must reflect the true nature of the company. For example, if you are a kids’ apparel maker, then the brand name should have the fun part or the childish feel or if you are a hardware manufacturer, the brand name must be something that defines the endurance and power of your product.
Master a Social Media Platform
Social media is an easy and inexpensive platform for advertisement which can have a very high level of customer engagement as expressing the views becomes very easy for the customers. Therefore, mastering at least one social media platform is better than doing all other stuff at mediocre levels.
The basic requirement is to have a page. If you have a page on any social media platform, say Facebook, you can easily run paid advertisement. Facebook’s advertising rates are quite affordable and this online marketing platform has comfortably proved its worth in recent times. Once you get a sufficient number of followers, you will actually need not to spend any money on this platform. Just a proper post and you are done!
Search Engine Optimization
Search Engine Optimization (SEO) is a brilliant and cost effective tool to get some organic traffic to your website. What this does is that it shows your website at the top of search engine results pages (SERPs), when the user searches for keywords that you offer.
However, you need to fulfill certain requirements to gain benefit from SEO. Apart from basic technical requirements like having an account, you also need to target the proper keywords. Also, search engines rank you on the basis of quality of your content, so it is imperative that you provide the high-quality content on your web page.
Feature on Coupon Sites
With ecommerce and online shopping gaining popularity, customers have started using the coupon sites a lot. The purpose is very simple, to get the best deals, discounts and to save money.
This behavior of customers can actually work to your advantage as featuring on such sites can result in having high traffic on your website. Now there are some costs that you will incur, like paying the deal provider and the discount that you are offering. But such features can result in immediate popularity.
Along with popularity, such an advertisement results in high ratio of conversion of potential customers to actual customers, as there are very high chances that if someone is interested in a deal then he must surely be looking to buy that product. And once your deal gets famous, you can expect high amount of traffic on your website.
Partnerships and Referrals
Many a times, having a partnership with other businesses can help a lot. These businesses, which are connected to our business, can help a lot in creating additional customer base for our business.
The most common form of this kind of marketing is when two businesses belong to the same kind of industry, but provide different product lines. A simple example of this can be – let’s say you are a mobile phone accessory seller. Now you may partner with a smartphone seller, who may refer you to its customers when they ask for any mobile accessory that they would like to purchase.
In such an ad campaign, you need to ensure two things. First is the obvious one, you provide great quality product, so that the referrer does not hesitate to mention your name to their customers. Secondly, the business that you are partnering with, must have a strong customer base. This will only be effective if your ad reaches a sufficient number of people.
In offline business, it is important to partner with a business that is geographically nearer to your business. However, this limitation in not present in online business, but the referrer must have an audience that is relevant to your business.
Apply for Business Awards
There are many corporate contests and awards that keep on happening regularly. A very smart but effective way of advertisement can be participating in such corporate awards.
The first basic advantage is that if you win some awards, it will help your business earn a good reputation.
Another advantage is that such events will introduce your brand name to new people. Mostly these awards are connected to media houses that publicize such awards. It is very likely that your brand name will also feature in such Digital/Print Media publication. Thus, this can act a good source of publicity for you.