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How Much Advertising Do You Need When Starting a Business?

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This topic contains 3 replies, has 2 voices, and was last updated by  Matthew 1 month, 1 week ago.

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  • #5227

    Susan
    Participant
    Points: 220

    When starting a new business, most people want to shout their idea from the mountaintops – and rightly so. It’s great to be excited about the product or service you are offering, and to let others know about it. But when you are just starting out, it is important that you carefully pick and choose what type of marketing and advertising you will participate in. Otherwise, you could end up wasting advertising dollars and / or marketing to a group of people that really aren’t a good fit for your offering.

    Determining the best form of advertising can best be done by completing a marketing plan. When doing so, not only will it help you to nail down the exact points that make your business unique, but it will also help to guide you towards the advertising channels that will – and won’t – be the most advantageous to you.

    For example, if you are a personal trainer and you’re looking for clients to help with their workout plan, putting up a single billboard on the side of the highway won’t likely land you very many clients. But, placing ads in sports-related magazines and websites will. Alternatively, if you’re opening up an ice cream shop, then placing a billboard at the nearest highway exit could be an ideal place to advertise for this.

    You should also include timelines in your marketing plan, so that you can be sure to stay on track with keeping your company’s name and offering in front of your target market consistently. This will help you to ensure that your business is top-of-mind to your potential customers. Here, while everyone may not need your product or service right away, when they do need it, you will be the first one they go to.

     

  • #5233

    Matthew
    Keymaster
    Points: 355

    Awesome points in this. This can be a tough decision for most new business owners. Not to mention using platforms like Google Adwords can get really out of hand if you don’t set up the proper parameters in the beginning. Understanding where your niche lands and how it can pull in customers is extremely important. Once a market technique works for your business hone it to operate on automatic as much as possible. Such as automatic workflows and reminders to call clients etc.

    I can give another example where my web design business actually doesn’t pull new clients via the web. Infact, most clients don’t even use my website to complete payments or sign up for payment plans. Most of my clients come from other sources such as networking events (honestly something I never thought would work).

  • #5259

    Susan
    Participant
    Points: 220

    Absolutely. There is a definite connection between the online and offline world. For those who are able to easily integrate the two, you have the opportunity to obtain even more clients for your business. With that in mind, it is important to not just automatically rule out any type of marketing, as you just never know where the next new clients may come from.

  • #5274

    Matthew
    Keymaster
    Points: 355

    I believe a good way to handle this may be trying a few different marketing techniques and seeing which one sticks best for your industry. The other option is to find out which ones you are good at as well. Some may be good at cold calling list while other’s can’t take the objections and need to use google adwords. The only fact is that every business needs a solid way of generated leads and customers.

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