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How to Advertise Your Business Without Going Broke

-- 2011-05-25 2:00 am --

Many new entrepreneurs tend to believe that having a formal marketing plan may be excessive in the initial stages of their business. In some cases, this may be true but one thing that’s important to know before spending on advertising is the audience.

Forget a flashy website, t-shirt giveaways or expensive commercials for radio or TV. Find out who the potential customer is, where they are most likely to be found and what interests them and why. Then, find at least two methods as to how to reach them.

Do they read more than watch TV? How do they spend leisure time? What business competitor is currently servicing their needs and desires? What advantages does the new business have that’s sure to lure customers in? Are the potential customers impressed by visuals or gadgets? These are some of the questions a new business should ask before getting involved in any advertising campaign.

Everyday more people are doing things online such as paying household expenses, applying for work, attending school, playing video games or watching rented movies, shopping, getting advice on everything from appliances to relationships and the list goes on. These days, measures are taken so that payments are secure and customer data is kept confidential. Also, free or low-cost high-speed internet connections are accessible to just about everyone.

So there’s a good chance that the customer is online at some point on an average day. Once it’s discovered what their interests are, find what methods work best in order to reach them effectively. It is best to pick at least two to start and note alternative ways.

If a traditional press release has not been created, now is the best time to do so. Or update an old one with changes or make it more interesting. While there many companies or individuals that may write and distribute a press release as a business, an entrepreneur can do these themselves.

Press release templates as well as distribution outlets can be found online at little or no cost. Most local and national newspapers have press submission instructions on their websites. It’s important to read and understand every submission process as they can vary. Remember, this service is free to the business and not obligatory on the part of the medium.

When it comes to publishing, the local newspapers have a better guarantee than the larger national ones. The best way to ensure inclusion in a newspaper or periodical is to buy costly ad space. This works best when the business is profitable enough to seriously consider it as a return on investment instead of an expense.

A basic release is also a good way to have all company history and other information in one place. When networking online, which is free or low-cost, you may be asked to submit company data within a specified word count. So information taken from the press release can be written as 10, 25 or 100-word paragraphs that are ready to send to the media so business can get much-needed exposure.