One of the biggest challenges that new business owners face when launching a venture is promotion and publicity. Getting the word out is essential. It can make or break a new business. New business advertising requires some creativity.
One of the biggest challenges that new business owners face when launching a venture is promotion and publicity. Getting the word out is essential. It can make or break a new business. Leases are expensive, and owners can’t afford to wait weeks or months for traffic to reach their stores. Merely putting up an “OPEN” sign isn’t enough. New business advertising requires some creativity.
Of course, new businesses usually have tight advertising budgets. After rent, contractors and suppliers have been paid there is typically little money leftover for promotional purposes. Yet advertising cannot be overlooked. The trick is finding effective ways to stretch those dollars effectively.
Fortunately, some of the best techniques for new business advertising are some of the least expensive. Every business owner should try at least ONE of the following methods of advertising a grand opening:
1) Newspaper advertising. There’s no better way to reach the community that your business is located in than to advertise in the community newspaper. After all, it’s probably the locals who are going to be your biggest supporters. Get their attention by taking out an ad. Although it’s more costly, get one that’s at least half a page or larger. Smaller spaces are less expensive, but may be overlooked by more than half of the readers. It’s well worth paying more for an ad that people will actually notice. Another option is to have a circular added to the local paper. It needn’t be more than a single page that is eye-catching and informative. Whether you choose an ad or a circular, keep the graphics and/or pictures relatively simple. If you pack the ad from top to bottom with text people won’t bother to read it. Limit text to fifty words or less; just enough to for people to read in one quick glance. Make the information pertinent and memorable.
2) Signs. Rent a portable sign/signs that you can add your own copy to (i.e. signs with changeable letter panels.) Place it/them on a high-traffic road near your place of business. If possible, get one with power so that it can be lit up at night. Add a message announcing your grand opening details so that drive-by traffic (that is largely made up of locals) can see that you’re ready to do business.
3) Stock up on business promotional gifts. When it comes to business advertising dollars, business promotional gifts pack a big punch for smallest amount of change. Business owners have literally thousands of items to choose from and hundreds of them cost mere pennies per unit. For $500 you will be able to purchase hundreds to thousands of individual promotional items to hand out to potential customers. Business promotional gifts make a much bigger impact than a business card, since they contain your business logo and information, plus they are useful too.
Though it adds extra cost, business advertising should be as essential a part of your operating budget as rent and utilities. Failure to advertise your new business may start you off on the wrong foot and result in a delay in getting your business off the ground. Good business advertising doesn’t have to be expensive, just creative.
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