Spending A Fortune On Advertising And Marketing For Your SME May Not Get You The Results You Are Looking For, The Secret To Implementing Low Or No Cost Marketing Strategies That Will Make You Money

Annette Gomez

Advertising and marketing your business can be a simple or as complex as you would like to make it. You can spend thousands of dollars on a massive campaign or implement low cost strategies and still get great results.  

No matter what type of media you are using to promote your business: online, offline, social media, SMS, TV or any other media if you want results the fundamentals of marketing and advertising are basically the same just on different size scales.  

Get clear on the purpose of your advertising and the results you are looking for!

When paying for advertising is it your intention just to let people know your name, business address and phone number, OR Are you paying to build your brand and bring in leads, leads which could potentially turn into paying customers?

If you market your business because you want more customers, then why would you just run an ad with your address and phone number and completely waste your money?

We know so much more about dynamic and effective marketing today especially in the online space and yet many businesses still advertise with the yellow pages, newspaper mentality.

The Media

The choice of media you choose will come down to your target market. If your target market is online then you need to be too!  More than ever with such overcrowded spaces and the choices your target market have you must catch the attention of your audience instantly.

Think about when you Google a business yourself – think about which business catches your attention and why do you choose to click.

Do you choose the sponsored business, the which comes up first?

or

The one that explains what it does in the first few line?

or

The one you see is going to be able to immediately solve your problem?

or

The one with the 5 star reviews (a big topic to touch on later)?

The same for print media – is it the ad with just the business name and address or the one who has created an offer which catches your attention? Connecting with your potential customer through your advertising in the first instance will be a valuable part of their buying decision.  

Talk To Your Target Market

If you are a SME or start up you may not have a big marketing budget but that’s ok! It’s not ok if you hide away expecting people to find you! To build your brand, you must at least do something to get your name out there and this is where a little creativity comes in.

I ran a successful Facebook campaign for my retail business. It cost me $21 a week, that’s a total of $21 for an ad I ran over 3 days – I set my budget at just $7 a day.  My return on investment was huge. The reason this was so successful was:

I knew who my market were and where they lived.  

I talked their talk

I solved a problem

I made them feel good

I knew the days the ad would be seen and have the most effect

I didn’t just run a random ad and hope, I put some thought into it.  It only took me a few times to get traction, adjusting the wording until it had an increased conversion rate.  

I used this paid Facebook ad along with a Facebook page and lead generation product to grow my targeted buying customer base, I also advertised the business on a free website.  

Google Trends is a website by Google that analyses the top search queries in Google, this can help you find what people are searching for.  There are also online sites which help you find effective words to use in your copy.

Know Your Return On Investment (ROI)

The numbers are very important when it comes to paid advertising.  

How many enquiries are you getting from your ad? How many leads is the ad bringing to your business?

What is your ROI?  This should be calculated for every campaign you run.

Google Adwords, Facebook marketing, print media, TV radio, it’s all about testing and measuring.

If you are paying $500 out and it brings you 5 new leads in, you convert 2 in to paying customers and their average spend is $5000 then that lead you converted to a paying customer cost you $250.

How many times would you pay $250 out to get $5000 in to your business?  I know I would pay again and again and again!

If you don’t do the figures, you tend to look at marketing as an expense and not an investment.  

Usually when business is not doing so great it is the first expense to go or cut back on!!

Never change what’s working!

You can never guarantee the results you get from marketing and advertising, even the experts can’t predict actual results.  Many factors are involved and it is often beneficial to try several strategies at the same time. 

However I would say if something is working, if you are getting results and the strategy you are using is giving you a ROI then WHY would you change it?  If you have a new brainwave, product or service you want to advertise then definitely test new campaigns alongside the current ones and progress if you achieve better results, but never change when something is working. Eventually most campaigns usually run out of traction which is why it is so important to keep calculating your stats.

And……. If something is not working and you are not getting the results you desire –  try something else – why would you keep doing the same old thing?

I will always remember asking a business owner what they were doing to market their business.  They told me they produced a nice shiny flyer and had paid to have 10,000 bulk delivered with the weekly letterbox deliveries, in with all the other advertising material and supermarket brochures, they told me it was cost effective doing it this way. However after a few weeks they weren’t getting any results and couldn’t figure it out. I then asked them what they did when they received the delivery of bulk which included all the supermarket specials in their own mailbox, they told me threw it straight in the bin, they were way to busy to look at it.  They realised they were their own target market and had just solved their own problem by looking at their own actions, realizing it is called “junk mail” for a reason

Advertising and marketing your business doesn’t have to be scary, it just has to be effective, so just get started and then continually test and measure over and over. Want to get started implementing marketing strategies that will grow your business? Book a chat with Annette Gomez today.   

By |2019-02-14T15:20:58+00:00January 25th, 2019|Categories: Business Building, Uncategorized|0 Comments
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