Low cost marketing ideas
Tom Eageloff, who is well known for his small business advice, offers a few low cost marketing ideas that the Bandera Business Association would like to share with Courier readers.
Previously, we discussed the basics of marketing for small town businesses. This week we will offer the first 12 of his 25 low cost ideas: • Radio, newspapers and magazine specialists will frequently give free help in developing an advertising strategy, such as demographic information and money-saving ways to produce your ads, among others • Place your ads in off hours or in unusual locations for less money. Many times you can still reach your target market with these spots.
• Instead of a one-time big splash ad, be consistent with frequent small ads that work.
• Monthly magazines sometimes have unsold ad space at the end of the month that they will sell at a discount.
• If you have an 800 number, put it in every ad for immediate response and feedback.
• Try advertising consistently in the classifieds. These ads may draw more customers than more expensive display ads.
• Can you barter for the cost of ad production? Maybe the newspaper needs painting in exchange for an ad about your paint store.
• "Piggyback advertising" are ads you receive with your MasterCard bill. Is there someone in your town that sends out a lot of bills? Can you put a small flyer in with their bills and split the postage? Or pay a small fee?
• Split advertising costs with the people who sell to you. Vendors and manufactures are always looking for exposure. Let people know you carry their products and have the vendor pick up part of the ad cost.
• Are there up front advertising discounts for cash?
• Consider advertising in regional issues of national magazines. The costs are lower and you can still reach your target market. TV Guide is a good choice. It stays around for at least a week. Time, Newsweek, and US News and World Report may stay in local doctors' offices for years.
• Share ad costs with neighbor business. Video stores and pizza parlors are natural partners. Have coupons to each other's stores or share the cost of flyers.