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How
To Use Ethical Marketing
As
a small business owner, every dollar you spend is a
dollar that comes right out of your pocket and affects
your profit margin, especially when you're trying to
grow your business. If you're going to succeed, you
have to pay close attention to your bottom line and
look for creative, innovative ways to cut costs while
still getting what you need.
That
old saying that it "takes money to make money"
has never been truer than when it comes to promoting
your business.
So
when it comes to spending money on advertising, how
do you make sure that your advertising is working hard
enough, without spending a fortune?
Thanks
to the Internet, you've got lots of options for finding
cost-effective advertising that does what it's supposed
to -- bring targeted customers who are hungry for what
you're selling, right to your door. But don't forget
about cost-effective offline methods as well.
Here
are a few ideas to help you get started:
Focus
your advertising dollars on your target market. The
tighter your niche, the better your chances of finding
the customers who are looking for exactly what you've
got to sell! So rather than going wide, and trying to
sell to everyone, narrow your focus, and then, if possible,
narrow it some more! Figure out who your "ideal"
customer is, and then create an advertising campaign
for them. Once you know who you're selling to, look
for media that targets that demographic. Depending on
your product or service, think community and neighborhood
newspapers, high school sponsor advertising, chamber
of commerce directories, etc.
If
your ideal customers aren't defined by a specific geographic
location, look at regional or specific demographic publications.
Perhaps a regional paper runs an annual issue that focuses
on an issue or activity that reaches your target market.
Use local cable television to broadcast your ads only
in certain markets. You'll get cheaper rates and a more
focused demographic.
Always
ask for a discounted rate. (Many publications offer
an "agency" discount of up to 15 percent.
If you are acting as your own in-house advertising agency,
you might qualify for the special rate.
Some
monthly magazines offer discounts for multi-ads placed
over a 3, 6 or 12 month time period. Most publications
have a different rate schedule for different types of
advertisers -- so depending on your product or service,
you could qualify. And if not, sometimes just asking
for the discount will give it to you.
Buy
leftover space or airtime. This is advertising that
the publication, radio or television station hasn't
filled by their usual deadline. Of course you'll have
to take the spots that are available, but again, depending
on your business and the product or service you're selling,
that inconvenience could still be worth the discount
and the exposure you'll receive.
Use
classified ads. They're not just for employment offers
any more. You'll find classified ads in magazines and
newspapers. Before writing your ad, go to your local
library, and look through the back issues of the magazine
or newspaper that you're considering. Look at the ads
that catch your eye, or that are repeated month after
month. Those ads wouldn't be in there each month, if
they weren't making the advertiser money. Use those
ads as springboards for ideas when you're ready to start
writing your own classifieds.
Test
your ads. Start out with the cheaper publications, so
you can find out what's working and what's not. Play
with them, and tweak them. Once you've got an ad that
works, keep using it. You can run it more than once,
or in more than one publication at a time. When it quits
bringing in customers, or you start noticing a drop
in effectiveness, then it's time to change it.
Do
you own a retail business? If so, check into co-op advertising
funds that may be offered by your vendors. Co-op programs
provide joint advertising for your and your vendor,
and you'll get a portion of the cost of the ad reimbursed
because the ad mentions the vendor. (Note: most Co-op
programs have strict guidelines, so check with your
vendors and make sure you're following the rules).
Barter
for goods and services. This can be especially effective
with radio stations and local papers. See if you can
provide your products or services in trade for the cost
of advertising. (Also called "trade" or "In-kind"
ads, the radio station or publication gives you the
ad in exchange for products or services of equal value,
and then uses those products or services as part of
a promotion or contest for their listeners or readers).
This can also be a great way to get additional free
publicity, so if you decide to try this method, get
creative and think outside the box!
Reuse
your ads in other advertising medium. If you've got
an ad that's especially effective, or looks great, reuse
it in a circular, brochure, handout, flyer or direct
mail piece. Use the graphics on your Webpages.
Finding
a healthy mix between online and offline advertising,
looking for ways to extend your reach and your advertising
dollar, and cutting costs creatively will help you ensure
that your advertising is working hard for your success.
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