Small businesses can’t afford the impressive marketing campaigns that big brands come up with, but they have to attract customers, too. ROI is everything in this scenario; when your advertising budget is limited, you want to get the most value for your money. What methods get the best results for the lowest price, but are still easily available?
- Signage – Good signage outside your store is one of the most efficient things you can ever invest in. The rewards are numerous; not only do you attract much more walk-in traffic, you will also make it easier for customers to find you. Backlit LED business signage can also make the surroundings safer with its illumination. Perhaps most importantly, your premises will gain a more professional appearance.
- Wrap advertising – Similar to the above, wrapping company vehicles is an exceptionally cheap yet highly effective advertising method that every business should implement. High quality sticker decals are durable enough to last for years, though are easy to replace when necessary, and will transform the business’s fleet into mobile billboards.
- Local contests –Holding a contest gets your name out on the local market, and with luck, news outlets may even pick it up and give you additional publicity. The publicity you gain far outweighs whatever you might spend, from start to finish. Sponsoring an event is also a valid method. In general, getting involved with the community always pays off.
- Referral programs – Rewarding your customers for bringing in their friends has two major advantages. First is that this method will only cost you whenever you make a sale. Second, people are always more likely to trust a business that was referred to them by someone they know, so this is an excellent way to gain more regular customers.
Some methods can potentially have even better ROI, but require extensive research and industry knowledge. These are more or less guaranteed to have an excellent return. Remember that although you can scale advertisements up, more dollars does not automatically guarantee better results. It is best to stick to tried and tested media.