“When business is good, it pays to advertise. When business is bad, you’ve got to advertise!” I have read this in a newspaper article several years ago and it has stuck into my mind up to now.
I remember my father used to dislike some advertisements on television. He would comment on the style especially when the concept didn’t seem to be relevant to the product. For example, in one toothpaste commercial, he could not connect “floating in the air” with the toothpaste. He insisted that a realistic approach is still the most artistic. “Just bite the burger and say it tastes good! Why do they have to run and jump high over people falling in line?” He would say.
I would try to explain to him that regardless of whether we agree with the approach of those commercials, we have to admit that advertisements are crucial to the sales and marketing of products and services. This is especially true when you have to contend with many good competitors. You have to catch their attention in order to get a chance to introduce your product and convince them to choose your brand over a leading competitor.
Imagine this; you have worked very hard to develop your brand. You have made sure that it suits the taste and need of your target market better than any other does but you cannot sell much because you have not informed your target customers well about your product or service. It is very frustrating! Even if you have accurately planned your business but if you have not effectively promoted your product or service, the return on your investment will drag.
The primary intention of promotion is to persuade people to increase their consumption of a particular brand, product or service or to convince them to switch to another brand, product or service especially if it is a new one.
If you are starting a small business, popular competitor brands will only eat you up if your target consumers will not notice your product.
How do I promote my small business on a limited budget?
Small entrepreneurs who are merely starting their small business might not afford a full-scale advertising campaign and they do not need to do so, at least not in the meantime. However, sales and marketing promotion must be given top priority right from the start even in small scale businesses. One needs to allocate a reasonable amount for promotional activity. It should be a part of his capital outlay.
For small businesses, try to consider the following:
- Printed flyers, leaflets or brochures
- Posters or Tarpaulins
- Websites
- Emails
- Telemarketing
- Word of Mouth
It is a difficult job to put up a business and develop a product or service in the market amidst tough competition with skeptic and choosy consumers. It involves a lot of hard work and sleepless nights to convince people to choose your brand but if you want to succeed, nothing can stop you.
