Advertising as well as non-advertising professionals are aware of the fact that “Right Advertising increases the brand strength”. Still, many consider ‘advertising’ as an expenditure instead of investment. It’s a simple logic: advertising can never be called an expense. Effective advertising strengthens the brand value.
Many companies think that a sizeable amount of money is needed for ‘investment’ in advertising. Their belief cannot be entirely falsified but, advertising does not always have to be expensive. Small businesses can make use of many low-cost advertising techniques.
Advertising is all about two things-
One: Tapping the emotions of your target group as it plays a bigger role in buying behavior.
Two: Implementing well-thought and planned strategies.
Here are a few key points to keep in mind while preparing the ideal low-cost advertising strategy for your brand:
Don’t subtract, Add: Small business owners should consider a mix of mediums and not just one to maximize effectiveness of the advertising. Instead of spending a lot of money solely on TVCs, inexpensive mediums like radio and social media can be considered.
Do not ignore the most underestimated mediums:
Radio: Radio advertising can be highly effective if you know your demographics. Donating prizes, organizing contests on-air, sponsoring radio shows etc. is inexpensive compared to sponsoring television shows.
Moving ads get noticed: Bumper stickers, magnetic signs, company name on license plate holders are great attention getters. Don’t forget your phone. Everyone has a cell phone and they just might call you when they see you.
Encourage employees for word-of-mouth publicity: Give all employees their own business cards and reward them for giving it out to people. Every reference that a customer makes should entitle the employee for an incentive.
Personalize invoices: Use Customer invoice statements creatively to send a personal message. Provide discounts which will ensure that the customers keep coming back.
To sum it up, stop worrying about the cost and consider advertising as a beneficial investment that will help your brand grow. Try every way to reach your target group. Once you narrow down to the particular group you want to target, rest becomes a cake walk. So, plan it well and reap the benefits.