“Whatever is left over, we’ll use for advertising.” WRONG!!!
This is, undoubtedly, the one mistake small town businesses make consistently more than any other.
Marketing and advertising is an investment in a business, tied directly to sales. It is not an expense, though it certainly seems like one when the check is begin written, but trust me it’s not. Money spent on advertising helps you grow your business.
Of course, in order to create a successful advertising budget, business owners must determine their marketing goals. This begins with defining your target consumers, and is followed by deciding on the best way to reach them – print, radio, television, or the Internet. Now, you’re getting the idea, right?
Without sufficient money reserved for advertising – your sales will go down and suddenly, you have less left over for promotion. Knowing who will be buying your product will help you create an advertising plan to reach them. Once determined, you can create your advertising budget, accounting for design, copywriting, printing, and purchasing space or time for advertising.
As a small business, think back to when you advertised the most. For most businesses, it was the first day of business. Didn’t you have a Grand Opening, complete with balloons, flyers, ads, on-site radio stations, social media specials, contests, and prizes? Did the income from your sales pay for all that advertising? No, it didn’t. Most businesses advertise most when they need business, but then forget this rule – Advertise more when you don’t!
Successful advertising should be ongoing, appealing to customers when they desire your products and services to solve a problem or fill a need and reaching out to them via their favorite media. It is never solely about when you want to sell, but when they want to buy. Publicizing your product’s or service’s benefit is key to reaching prospective customers.
The average cost of advertising is usually one to five percent of gross sales, which varies according to your location, local advertising rates, and your industry. Obviously, car dealers require a larger advertising budget than funeral homes.
Cultural diversity is critical, allowing you to access a multitude of diverse communities with your products and services, and ultimately contributing to a strong local economy. Businesses in multicultural, multilingual regions like the one in South Florida draws both consumers and employees from varied backgrounds and experiences. Those distinctive perspectives create innovative ideas, grow unique industries, and enhance the marketplace for original products and services.
This innovation and enhanced growth is critical for cities who desire to stay competitive in the global market. With its long history of welcoming those of all cultures, Miami is positioned to continue to grow, cultivating new businesses, adding jobs, and growing its population.
Are you ready to take South Florida’s Market?
If so, we are ready to help you reach your target audience with your product or service. Begin by selecting the advertising that reaches the largest percentage of your audience. This means connecting with your target consumes in the advertising medium they are most likely to select in searching for your product or service. Finally, once you’ve decided on the best advertising medium to reach your target audience, advertise consistently.
Free to Small Budget Advertising Options in Miami
- Networking: The Miami Networking scene is huge, so don’t expect instant results. Some Options include Shaper (New), BNI, Miami Small Business Expo, Miami Under 40, Brickell Living,
- Old School:Cold Calls, Door-to-Door, Direct Mail, and never underestimate the power of mouth. Just be ready to translate your USP (Unique Sales Proposition) into other languages.
- Trade Shows:Trade shows are vital in some industries. Buyers and sellers get together in one place, sellers stage booths, and buyers wander seeking solutions. A trade show is a great place to introduce a new product, line up distribution, or impress potential buyers. Miami is Full of World Class Trade Shows every year.
- Inserts: Envelopes, boxes, and other packaging is vital for retail sales. Yes, boxes make customer impressions. Many companies advertise on the outside of envelopesand packaging.
- Free Samples: Free toothpaste,cosmetics, cheese and crackers, demo software, anything in small packages is a great idea! Free samples work as advertising, particularly at the point of sale.
- Volunteering: South Florida is full of awesome opportunities to help others while helping yourself such as: Beach Cleanup, Public Speaking, Charity, C Make sure it fits your target audience, even if doesn’t work you are still helping those in need.
- Digital Marketing: The best of digital marketing is it allows you to spend only on people already interested in your products and services. The most popular choices include: Social Media, SEO, SEM, Email MarketingTargeting your audience in digital media is critical, don’t choose with your eyes closed, research yourself or get a free assessment about your business. Check out our Digital Marketing products or get a custom plan for your business.
Medium to Large Budget Advertising Options in Miami
- Chamber of Commerce: Yes,start with the Miami Chamber of Commerce but don’t forget about Miami Beach, Boca Raton, Coral Gables and others. Full list here.
- Magazines: Are you looking to get customers in the door? Couponsin magazines generate business and attract new customers. Offering an attractive deal gets customers in the door and gives them reasons to return. An effective technique in years past and, for the right kinds of businesses, it still works well. A significant advantage of coupons is the tracking they offer, with each coupon dated and identified by the source. Consider Free Distribution Magazines in Miami, Niche Content Magazines, and Paid Local magazines.
- Newspapers: Here is the full list for Florida Newspapers.
- LED Screens: Miami is full of LED Screens everywhere. Thebest locations include Bayside, Brickell, Downtown Miami, Miami Beach, Aventura, Pinecrest, and others.
- Digital Marketing is by far the best performing advertising option in Miami. Some of its techniques include Social Media, SEO (Search Engine Optimization), SEM (Search Engine Marketing), Content Marketing and many more. Check out our Full Marketing Plans.
- Transit: Transit buses (interior and exterior), and Metrorail Stations
- Airplanes: Airplane Advertising in Miami Beach: Flying Signs, Aerial Banners
- Boats: Check out this video with boat’s advertising. Ballyhoo Boats
- Outdoors: Miami is full of people in the streets, many on vacationand in a great mood, so you should consider Street Billboards, Mobile Billboards, Movie Theaters, Benches, Bags, POP Materials, Bus Stops, Malls, Gas Stations, and Try Blue Media.
- Radio: You’ve heardcommercials, offering a product and a toll-free number to call. Repetition is critical here. In Miami, when choosing Radio you need to be clear about your target audience.
- Television: A 30-second spot on a national television show costs tens, even hundreds of thousands of dollars for placement, in addition to the production costs of the ad. This equates to big money for a big audience. Television advertising also includes fringe ads on late-night cable and daytime cable which can cost a lot less, and be more targeted, than major national airings.
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