"Advertising is very often the most costly and visible element of the marketing mix," explains Michael Goodman. "It's not uncommon for advertising to represent the largest single component."

There are a number of possible roles that advertising can play in your small business. There are others, but these are the most common:

• Generate leads in the short term. Some ads promote an immediate call to action, such as, “Call now!” You probably see these every day in the newspaper or in your mailbox. Think of them as "sales calls in print," says Goodman.
• Promote special offers. Weekly circulars advertise special deals or promotions. Additionally, they keep the retailer's name in front of the public as a place with good selection, low prices or other positioning messages.
• Win hearts and minds for the long term. This is what advertisers do for purchases that are not made on a regular basis, such as cars or specialized vacations. The advertising is meant to keep the company's name in your mind so that when you want to make a purchase, your name is on the short-list.

The Po!nt: Knowing what you want your advertising to accomplish can help you decide which vehicles and types of advertising are optimal for your small business.

Source: MarketingProfs. How to Advertise on a Modest Budget is the next seminar in our Small Business Series. Join us next Friday at 12pm ET.

→ end article preview
Read the Full Article