Historically, the cost of traditional advertising has made it difficult for small businesses to compete. But in recent years the tide has turned, and there are a number of cost-effective ways for a small business to advertise to niche audiences.

One way is via local cable TV. Cable companies often produce a simple commercial at no charge if you buy a minimal schedule on stations that cater to your target audience. B2B companies often find that their business customers respond to this kind of advertising.

Don't make the mistake of assuming that just because you're a B2B company with a limited budget that cable TV isn't right for you. Look into the possibilities, and you may be pleasantly surprised.

To compete with low-cost cable-TV advertising, radio spots have become less expensive in many markets, and targeted local papers and trade journals continue to offer cost-effective options. Direct mail is an option as well, and it can be targeted precisely.

Budgets usually start between $2,000 and $3,000, and, if the vehicles prove effective, you can expand the effort. These vehicles work best when you have a geographically concentrated target audience and a strong value proposition—not just a commodity product with a low price.

The creative product—advertising copy and graphics—are key determinants of success. You may want to engage a small advertising agency or creative team to give your project the greatest chance of success.

6. Sales Support

Once you invest time and money to generate sales leads and brand awareness, be sure you give the sales force the support they need to maximize the closing ratio, or conversion, of prospects to customers.

Depending on the nature of your business, this might take the form of professionally prepared collateral material, brochures, spec sheets, Web site content, catalogs, or lead-generation and prospect-qualification tools.

In most cases, the format and quality are as important as the content. The material should project a first-class, professional image and not look as if it were prepared the last minute.

Design and copywriting, as well as production values, can create that professional image and increase your chances of sales success—at a cost that will look attractive if the results improve the closing ratio.

7. Publicity and Public Relations

The explosion of online newsletters, blogs, trade journals, and association Web sites has created unprecedented demand for content and articles about newsworthy developments in just about every industry. If you have truly interesting product features or novel applications that will attract readers in your business, you'll be amazed at how quickly they'll be picked up, repeated, endorsed, and discussed—usually by the very people you'd want to reach with your message.

Start with electronic media the same way you do with traditional media: Create a set of customized press releases that reflect your understanding of the target publication and its audience. You can use a generic release if you customize it for the really important target audiences. The pros can spot a generic press release a mile away, and they are unlikely to spend the time it will take to "make it theirs."

Select your targets carefully and set priorities. For example, you might create an A list for really important clients; a B list for important but not critical clients; and a C list for nice-to-have but probably not important clients, at least not in the short term. Spend two-thirds of your time working the A list, a quarter on the B list and less than a tenth on the C list. Follow up with the A list, too, to see if there's anything else they need or if there's a way you can help them.

Don't forget to include the most important hardcopy targets, too—perhaps a widely read trade journal or local business paper.

Finally, create a "press center" on your Web site, and post your generic release there. You never know when a reporter will need the information you provide and find you through a simple online search.

8. Tradeshows and Events

Tradeshows, conferences, symposia, and other corporate events present a conundrum for marketers, because the costs are high and the time demands are even higher. Moreover, it is difficult to measure effectiveness, and the planning, implementation and follow-up can be time-consuming.

That may be one reason that online seminars, or webinars, and virtual conferences, podcasts, and meetings have become so popular with not only sponsors but also attendees. They don't require elaborate travel, extravagant booths, and nonstop staffing with talented sales professionals. It's just solid and valuable interaction between buyer and seller.

If you haven't considered an online seminar as a way of addressing your customers' needs and showcasing your solutions, it's probably worth a try. For less than $500 and a week or two of your time, you can set up a meeting or conference facility online and get great tutorials that show you how to put on a top-notch presentation. Then all you need are a few dozen (or a few hundred) of your best customers and prospects, and the show is on.

As with most of the low-cost and cost-effective marketing ideas, you can always hire professionals if you don't feel comfortable executing on your own, or if your time demands are such that it makes sense to outsource the project.

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Finally, don't feel that you are bound to just one of these areas. Try a simple campaign with just two or three elements at first. For example, you might create a whitepaper and then host a webinar to discuss and review the elements in the paper. Or host the webinar first, and provide the whitepaper free to attendees. If you record the webinar, you can offer it in conjunction with the whitepaper as downloads on your Web site, or put it on a CD and give your sales representatives copies for hot prospects who might benefit from the information.

If you're ambitious, you can even add a third element—say, a direct-mail campaign—to promote the webinar and whitepaper. You could also combine an email marketing campaign with an aggressive publicity effort to make each look more important than either would alone. After a person has read about you in the trade press, email newsletters, and popular industry blogs, your email may provide just the motivation a prospect needs to click on the link to take you up on an irresistible offer.

You get the idea. It's a mix-and-match strategy to create marketing synergy. It allows you to learn the right combination that will help you reach your objective.

Do your homework up front, and don't be afraid to experiment to find the right fit for your marketing strategy.