When it comes to getting adverts in front of consumers, things have never been more challenging for small businesses. The price of digital advertisements is rising, particularly in the aftermath of increased demand following the pandemic.
The question for the average business, therefore, is how to cut these costs. There must be ways of getting the message out to customers, without breaking the bank.
Check out these ideas:
Start Investing In Podcast Ads
Podcasts are growing in popularity. But that’s not why advertisers are interested in them – not primarily, at least.
Instead, their interest flows from their audiences. CEOs, senior managers and wealthy professionals all tend to listen to podcasts more than the average person. And so advertising through them allows you to appeal to high-value clients – people who can actually afford to buy your services over and over again.
Use Remnant Advertising
What the heck is remnant advertising, we hear you ask? Well, it’s similar to how hotels fill vacant rooms. Instead of leaving advertising space empty, ad companies auction off the space to the highest bidder.
Don’t let the word “highest” scare you – there’s a reason these ad spaces are leftover – people simply don’t want to pay for them at the going rate. Thus, remnant advertising can save you a tremendous amount of money while allowing you to feature the kind of ads that audiences want to see (particularly online).
Go Old-School (But In New Ways)
Old-school advertising seems old-fashioned. But it’s still just as powerful as it ever was. What’s more, advertising companies that still provide space on traditional channels are investing heavily in them. Allvision billboards, for instance, is now offering digital billboards that allow brands to display dynamic commercials roadside. And some online magazines are allowing companies to advertise in their email and digital content.
Skip TV Ads And Go Via YouTube
TV ads are expensive because terrestrial channels have to make a return on the enormous investment they put into programming. But the same is not true of YouTube. Here, advertisers just bid against each other. And that means that prices tend to be lower. What’s more, YouTube allows you to better target your audience by allowing you to select the demographics who will see it. It’s less scatter-gun and more sniper rifle.
Get Chatting On Social Media
Advertising costs via traditional channels are going up. But talking to your customers on social media is free. What’s more, it’s also way more effective than posting a banner ad on a third-party website. You actually have an opportunity to build a real personal connection with them, allowing them to see the faces behind the corporate screen.
Review Your Customer Persona
Perhaps your advertising costs are skyrocketing because you don’t fully understand your target customer. Maybe you’re spending so much money because you’re placing ads in front of the wrong people.
If this is the case, go back and review your customer persona. Ask yourself whether you’re targeting the correct demographics. If not, change your buyer persona and then adjust your targeting.
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