With so many small businesses emerging every day, it can be challenging to stand out from the competition and attract consumers’ attention.
As a small business owner, you likely already understand the importance of promoting your business, but you may not know where to start or how you should be investing your advertising dollars.
Below, we’ll go over the best advertising strategies for small businesses to help you launch an effective advertising campaign.
Advertising can be tricky, especially when running a small business on a tight budget. Luckily, there are many routes you can take that don’t cost a fortune.
Here are 10 of the top advertising strategies for small businesses to help you get started:
1. Advertise on social media: With about 4.9 billion people worldwide now using social media, there’s no better place to advertise your small business. Each platform attracts a slightly different demographic, which means you can reach a broad audience without spending too much money.
2. Advertise on your local chamber of commerce: The Chamber of Commerce is a great place to advertise your small business. It allows you to reach new people in your community on a limited budget, and it’s also an excellent way to build relationships with other local business owners. Many locals frequent the chamber’s website, making it an effective way to get in front of new customers.
3. Create an affiliate program: Affiliate programs are another excellent way to market your small business, and they are considered a low-budget, high-impact marketing tactic. You can partner with other businesses, bloggers or YouTube channels, and they will promote your products and services in exchange for a percentage of the profits. This is a great way to generate leads for your business through social proof and build your brand’s reputation.
4. Create sponsored ads on social media: Sponsored ads on social media appear in your target audiences’ newsfeed, even if they don’t follow your page. Research shows that in 2020, 92% of marketers used social media advertising and ranked it as the second most successful advertising method (with search engine marketing coming in first). This strategy is so effective because you can target specific demographics, such as by location and interests, to make sure you are getting the most value out of your advertising dollars.
5. Create and share sponsored content: Sponsored content is a great way to get your brand noticed. You can create original content, such as blog posts or videos, and then partner with brands that are willing to share your content in exchange for compensation.
6. Invest in influencer marketing: 61% of consumers trust influencer recommendations – meaning they are more likely to buy a product recommended by an influencer than one simply endorsed by the company selling it. Influencers can help build your brand’s reputation and generate leads at a lower cost than traditional advertising.
7. Invest in paid search advertising: Investing in paid search advertising allows you to reach potential customers who are searching for a product or service similar to yours. With a small budget, you can target a specific audience based on location, browser and other relevant information.
8. CTV ads: Connected TV (CTV) ad spend is increasing as more consumers invest in streaming services than traditional over-the-top (OTT) video. In fact, CTV ad spend is expected to grow 14.4% in 2023, making it a popular advertising format among small businesses. That’s because CTV ads are relatively inexpensive, yet they can reach a large audience.
9. Make the most of online listings: The internet is a powerful tool for small businesses, and one of the best ways for users to find you is through online listings such as Bing, Yelp and Yellowbook, where you can post your address, contact details, and services offered.
10. Get BBB Accredited: The Better Business Bureau is an excellent resource for small businesses. Becoming Accredited with the BBB allows you to list your business on the BBB’s website, which is a great way to build your brand’s reputation and attract new customers. It also allows you to take advantage of the BBB’s valuable resources and tools to help you run your business in a competitive market.
Bonus: 10 additional small business advertising ideas to consider:
• Place ads in unconventional places, such as store bulletin boards, elevators, etc.
• Run print ads in local newspapers and magazines
• Promote social media posts (different from sponsored social media ads), such as posts sharing lead magnets or interactive content
• Run targeted podcast ads
• Send out direct mail flyers to your local community
• Set up your Google My Business page
• Sponsor an in-person event or giveaway
• Sponsor an online contest or giveaway
• Start an e-mail newsletter
The small business economy is booming, and the competition is fierce. To remain competitive, you need to spend time researching the many advertising options available to you.
BBB of Southern Piedmont and Western NC contributed this article. Yuma-based John Hessinger is community development director of the Better Business Bureau serving the Pacific Southwest. Contact him at [email protected] or 928-919-7940.