Effectively Advertising & Promoting Your Business

If you are in business on the Internet or in the real world you need to advertise and promote your business. Most small and medium size businesses don't understand the importance of getting their name out there. In my years of calling on business owners I have seen small businesses start-up and spend thousands of dollars on build-outs improvements and equipment, but fail to spend any money on promoting their business. They just sit there and wait for people to show up and most often it never happens the way the business owner envisioned because no money was spent on advertising.

Some business owners have the illusion that if they open-up and hang a shingle on a busy street their business will prosper. This is far from the truth! You must advertise your business or your business will die or worse case scenario your business will make just enough to pay the bills and that is like being trapped in a dead end low paying job. You just keeping hoping the business will turn the corner and progress to the next level but it never does because you don't advertise.

Small Business owners have many excuses why they don't advertise.
"I don't advertise because I have more business than I can handle,
I don't need to advertise, It's to expensive, or it's doesn't work."

Large corporations devote entire departments to promoting their business. They spend a large percentage of their profits, usually 10-15% promoting their business either through agencies or in-house advert departments. Either way Big Businesses understand the importance of advertising and promoting their product or service. As a small or medium size business you should adopt the same philosophy.

DEVELOP A MARKETING PLAN
Usually, Small Businesses don't have the financial capital or resources to advertise like big businesses, but they can promote their business with almost the same results. A marketing plan does not have to be elaborate but it does need to be complete. Marketing plans serve as a road map to navigate promotional plans for your business. A good marketing plan will help you to get to know your business better and help you realize your business potentials and limitations. There are many elements to a full marketing plan but I am only covering what I think are the most important three elements. Before beginning, visit your local library, bookstore or do a online search on the subject.

1.Ways to advertise (even if you don't use all of them you need to list every possible way you can promote your business) Here is a hierarchal list of ways to advertise and promote your business; Radio, TV, Newspapers, Magazines, Internet, Direct Mail, Specialty Products, Other (Billboards & taxi-tops) Newsletters and Community Involvement. Make a resource list under each of these categories. The list will realistic help determine the best ways to advertise.

2.The cost for each advertising venue. (Prices help to establish a more realistic budget and determine which advertisers offer the best competitive pricing) When talking to advertisers ask for a copy of their rate card. If they avoid giving you prices or tell you that they don't have a rate card, simply don't do business with them.

3.Frequency and time slots to advertise (How many times and when your adverts will run). When advertising on the radio, morning & evening drive times are the best times to advertise but it is the most expensive. If you have the budget I strongly recommend drive time slots for radio advertising. Also, if there is a popular radio show (morning, noon, or evening times) I strongly recommend exploring a sponsorship opportunity with the show owner.

Primetime TV is a good time to advertise on TV and Cable Networks but it's very expensive. If your budget is not large enough for primetime you might consider late night TV. Also, like radio if there is a popular local TV show you should consider a sponsorship on that show.

Late night TV is also a great time to advertise and it's less expensive. Your message is more likely to be heard because viewers are less likely to change the channel during commercials or walk away like they so often do during primetime viewing.

From my experience I suggest that you start out running ads in any of the mediums once or twice a week. Don't over saturate your advertising especially on Radio and TV. It will have the same effect of a celebrity being over saturated. People get tired of hearing the same commercials over and over again. Usually Thursday through Saturday is the best times to run ads in any medium. People feel better about themselves and they are more likely to have more expendable cash on hands after hump day because it is closer to payday and the weekend.

If you are using your local newspaper run your ads on Wednesday and Sunday. On Wednesday run the largest ad that you can, this will increase you chances of being noticed. Wednesday is usually the smallest paper of the week and Sunday is the largest. Run your ad in the most popular area of the paper on Sunday.

If you do decide to use Radio and TV I strongly suggest, if you budget permits, hiring a professional video company to produce custom videos are voice over jingles for you. The radio or TV Station will offer to produce your spots for you at a fraction of the cost of what it would cost for an outside source.

The problem with Radio and TV doing your spots is that they often times use the same format and the same talent that they use for all the commercial they produce. On the air it is hard for the listeners to determine where one commercial ends and where another one begins when you use their resources.

After you have determined these three key factors. Next you should establish a monthly, weekly or annual budget based on your research and what ever fits your particular needs and your cash flow

Co-Op Direct mail is probably the least expensive way to start out if you have a small budget. To keep your cost down you should contact a direct mail coupons company like ValPak . Direct mail can be expensive if you try it on your own. Companies like Valpak help small businesses get into the direct mail arena at a very low cost. They provide the printing, postage and packaging at a very low cost, cheaper than if you attempted it on your own. Also, your message stands the chance of not ending up in the consumers "file 13" (trash can). That is because ValPak is a trusted brand name for delivering offers to consumers they want, need and can use.

GET YOUR MESSAGE RIGHT, CHOOSE THE RIGHT ADVERT MEDIUM AND TARGET THE RIGHT AUDIENCE.
Next sit down and figure out exactly what message you intend to relay to readers, listeners or viewers of your message. Your message should be precise and too the point. NO GIMMICKS! Consumers hate gimmicks. They see gimmicks as the advertisers way of attempting to be dishonest and misleading. Avoid FREE if it's not free. Remember, in the consumer's world, it's always about the money. So always make your offer as attractive as possible and include precise contact information.

As a former producer and director for a nationwide advertising and promotional company that produced Radio and TV commercials for the automotive and mobile home industry, I can tell you first hand that getting your message right the first time is very important. If you fail to relay the right message to consumers, you can spend thousands of dollars on advertising that does not work.

Next you should make sure that your advertising targets the right audience. If you own a food service, dry cleaners or other types of consumer services business, primarily you should target consumers in a 15 minute or 15 mile radius of your business. It does not do you any good to advertise to consumer who live 2 hours away if you have no way of servicing them or they have no intentions of driving to your business.

Make sure that you understand your target audience. If your business has what I like to call "wide commercial appeal" and you can get the product or service out to anybody anywhere, you should broaden your target to reach a wider audience. All of this should be clearly explained in your Market Plan. If you have the resources you should make it a habit to ask every customer who comes in to your business the why-what-when-how questions. Asking customers questions as a new business will help to better understand you customer, your market and relay a positive message to your customers that you really are concerned about giving them the best possible service.

If you are using Radio ask to see the station's Arbitron Ratings (www.arbitron.com) . If it is Television ask to see the stations or Cable Network's Nielsen Rating (www.nielson.com). If its print or direct mail media, you should ask to see their "Affidavit of Circulation and Qualifications". If you are using the Internet, you should ask to see the companies website activity report. By checking these things you have a better idea of what to expect on the Return On Your Investment (ROI).

Arbitron Ratings help you choose the right Radio station in your market area, Nielsen Ratings help you choose the right stations within the TV or Cable network to advertise on. Affidavit of Circulation and Qualifications let you know that the print or direct mail media you are considering has the circulation it claims to have. Internet Websites Activity Reports give you a good idea of what type of audience you will reach. If you are selling women clothing, you wouldn't want to spend money on a website that largely has children or male visitors. An Internet activity report shows you the websites unique visitors, hits and what types of surfers view their site. Websites are a very cost effective way to advertise your business. Websites like Yahoo and Google offer pay-per-click advertising. Pay-per-click guarantees you're your website will come up in the top three search and you only pay when a customers clicks on your link. Local Newspapers, TV, and Radio Station websites are also great websites to advertise on, because the very existence of their primary business helps drive traffic to their sites.

GET A WEBSITE
I strongly recommend that every business establish a website. Websites serve several useful purposes. Most business owners think that a website is only for selling things. Websites not only allow a business to expand their scope of selling their product or service, websites also serve the purpose of extending your business card and advertising message. Websites make your information available to potential customers 24/7. Websites are a great way to cut overhead cost and get paid on invoices quicker, especially if you can establish an online billing system. Just think of how much money you can save in printing, labor, and postage. Websites are a great way to simply communicate with your existing customers through email and monthly newsletters. It always puzzles me as I am driving, I see trucks with everything on the side of the truck except for their company's URL listing. Some companies don't understand the power of the Internet and the importance of having a website.

GETTING THE BEST DEAL
With radio and TV, it's usually cheaper if you can afford to buy your time in one-hour blocks. When negotiating with TV or Cable Companies inquire and insist on free 30 or 60-second promo spots on other channels other than the one you are contracting to advertising on. You can usually get these promo spots if you buy time in one-hour blocks. Remember that time slots are always limited and they usually go fast during the busy seasons. If you plan to advertising on radio or TV you should try and make a decision as soon as possible to avoid not getting the slots you want.

If it's Print or Internet advertising it is cheaper to establish a monthly or annual contract. Always try and negotiate a better price than what they offer. What I have found is that if the representative knows that you are interested, but don't like the price the rep will work with you to earn your business.

MEDIA BUYERS
Media buying companies are good at getting you a better bang for your advertising bucks. They buy large quantities of Radio and TV time, print and Internet space and resell it. If your business is the type that has wide commercial appeal Media Buyers might be right for you. For example, instead of being in one newspaper or magazine at a price your advert is in several different print mediums for almost the same price.

BRAND YOUR ADVERTISING AND BUSINESS
Branding your business is making your product or service unique and recognizable to consumers. One thing most small businesses fail to do or fail to understand is the importance of branding their business. Branding your business should be a high priority in your marketing plan right down to the color of ink you use for printing. Your entire marketing process should be uniformed. Your logo should be recognizable by consumers even if they don't see your business name attached to it. Companies like UPS, Starbucks and ATT all have excellent branding. You can see their logos and or colors without their name being attached and it makes you think of their brand.

One of their secrets besides a great logo, is what I like to call "uniformity in advertising. Smart businesses use PMS (Pantone Matching System) colors in their advert mediums. There are many different shades of any color. By using PMS colors you will get your company's color right every time and be well on your way to properly branding your company's image. A great example of a company using it's colors is UPS, commercial "What Can Brown Do For You?"

GET INVOLVED IN YOUR COMMUNITY
I know you have heard this before, "being involved in your local community is good for your business bottom line". This is true however; most small businesses fail to get involved in their local community. Think about it, you can always promote a sell-sell-sell-image to the public through paid advertising. But you have to pay dearly out the nose for that image. But consumers like to see another image and another side of a business. Showing the benevolent side of your business, by getting involved in community affairs, makes your company appear human to potential clients and this type of exposure is priceless.

When your business is involved in the local community consumers are more likely to think of your business the next time they need the products or services you offer as the company involved in getting the neighborhood playground constructed.

Another great way to get involved in the community is to join your local Better Business Bureau (BBB) and or Chamber of Commerce (COC). These organizations help you to network your business with other local business owners and eventually help your business bottom line through B2B sales. Also, these organizations are involved with the consumer part of the local community and by association your company will gain valuable "street cred" through the association of being a member of these organizations. However, don't be a silent member, get involved, attend meetings no matter what.

Also you can get involved in your community by sponsoring events at your local Schools. When you really think about it, the people you're reaching through the school system actually are the same people you're trying to reach through Radio, TV, Print or Internet advertising. By reaching them through the school systems your company now takes on the appearance and image of contributing to their kids education and your company actually establishes a more loyal and captive audience. You might not see the results immediately but, in the long run you will get great results through word of mouth and your company's image will be of one that cares about the community. Large companies like Dell and Microsoft dedicated entire departments to community involvement through schools, because they understand the power of the community and the local PTA. Wal-Mart is a great example of a company being involved in the communities they serve. Bill Gates gave away Billions of dollars to the world community and so did Ted Turner of Turner Broadcasting Fame. Companies and CEO Founders understand the importance of giving back and how it helps their company's image and bottom line.

As a whole, consumer trust of companies big or small is not that stellar. By getting involved in your local neighborhood you will greatly help to dispel the distrust that your potential clients initially have of your business.

APPRECIATE YOUR EXISTING CUSTOMERS
One more thing on my list is that you should establish some sort of customer appreciation system for existing customers. Specialty Advertising Products such as calendars, T-shirts are great ways to explore and take advantage of showing your customers you care.

When I worked in the automotive industry salesman and dealerships would send out greeting cards to former buyers wishing them a Merry Christmas or Happy Birthday. The message would also offer them a referral fee for anyone they referred to them or a discount on their next service visit or automotive purchase. Remember your best customer is always the one that comes from a referral because they come in the door trusting your company because their best friend sent them. So don't forget to say thanks, It's that important.

Establishing a marketing plan for your business should be a fun an exciting time for you. Don't forget to involve as many in-house personnel as possible. Your employee's opinions and input really does matter as they deal with the customers and their particular job responsibilities every day. If you plan on doing your own plan make sure you ask plenty of questions, read as many resources as you can and keep plenty of notes. If you hire a company get involved in structuring the plan. Remember you should know your business better than anyone. Good Luck!