There are many advertising strategies one can use when starting a small business. Excellent product assessment and market analysis are crucial in choosing the appropriate plan. It wouldn’t hurt to have adequate finances as well.
A budget must be available before starting the process of promoting the business. Limited financial resources dictate the kind of advertising a business may choose and these also affect the overall marketing objectives.
Thinking of the Attack
The positioning statement influences the advertising strategies businesses choose. According to Gerald E. Hills, “A ‘positioning statement’ explains how a company’s product (or service) is differentiated from those of key competitors.”
Once you have this concept or statement, it is useful for establishing the selling proposal, which will then make up the copy platform. This pertains to the choice of copy, artwork and content that will appear in the actual ads. A copy platform must be creative, catchy, inviting and easy to understand to grab the attention of target consumers. It must be flexible enough as well to adapt to new market trends.
Knowing Your Market
Knowledge of demographics, consumer behaviors and needs is vital in determining a specific target group for the advertising strategy to work. You should also think about the people and things that influence your target market.
Communication media is equally important. This is like a bridge that allows the advertising message to reach the consumer. Determining a specific target group will help in choosing the type of media that you should use.
The most common media that businesses use include print (local newspapers and magazines) and the Internet (blogs, social media, online videos, pay-per-click ads, online reviews). Outdoor advertising, according to Zodiac Event Displays, is also an important medium for getting your message out. Even with everything that goes on online, materials such as banner flags, posters and billboards are still important.
Whatever strategy and medium you choose, you must also monitor if these are working to your advantage. Those that provide returns should be continued, while those that are not as effective should be improved or terminated.