Advertising is critical in the exposure and success of your business but honestly most of the advertising costs are ridiculous. For example to purchase billboard space on 285, I-75, or I-85 in Atlanta you are going to pay around $6,000 per month plus a couple of thousand dollars for set up costs. If you want to do a television campaign or radio advertising then you are going to pay anywhere from a couple of thousand to $20,000 plus. Did I mention ridiculous?
Now for some companies that have millions of dollars to spend on advertising and marketing campaigns these prices do not mean as much. However, for the small business owner who is trying to develop a successful marketing strategy these prices can hurt their chances for success and survival.
The solution?
Partnerships.
Let’s say that you own a beauty product…we will say shampoo. However your marketing budget is small…maybe you can only afford about $100 per month. How in the world can you get your name out into the community with only $100 per month? By leveraging shared marketing campaigns with similar businesses you can share advertising costs, which will get your name out in more places with less money.
Let’s say that a local beauty parlor or barbershop is advertising in the newspaper, on a billboard, or on the radio. When you create an advertising partnership you are simply sharing the cost of advertising in exchange for a spot in their ad. So when the barber shop advertises in the newspaper ask to put your logo in with their advertisement. In exchange you will give them X dollars or if they are on the radio ask them to mention your company name for X amount of dollars (of course find out what they are paying first as you don’t want to take on the majority of the ad cost). The possibilities are really endless with this.
O.k. you might be saying…how in the world do I locate such partnerships? The best way is to contact the sales reps for local newspapers or radio stations. Tell them what you are looking to do and then in turn they will pitch your marketing partnership idea to the customers who are having a difficult time affording the full advertising costs. It is a win win but you have to first put yourself out there.
Are you willing?
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Wicked good tips Steven
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