Starting a small business is a challenging feat for many entrepreneurs, as they focus on creating quality services and products that will add value to the lives of their target consumers. Just like the people who operate large businesses, small business owners have to devise creative ways to advertise. Developing advertising ideas for small businesses comes with both advantages and disadvantages.
Small businesses have significantly lower budgets than large corporations, so they allocate less money to advertising activities, which limits their visibility. While large corporations opt for glossy advertisements in national publications to reach their market, small business owners place advertisements in local publications.
Stronger Access to the Local Market
Small businesses can take advantage of local marketing by making direct connections with the community and its members. From participating in local business associations to sponsoring local events, they have the ability to personally introduce their businesses to market they service. Arrange speaking engagements in your business community to generate potential leads for your business.
Limited Staff for Promotions
With less staff than a larger business, small business owners have a limited amount of staff with the skills and abilities necessary to market their companies. As a result, they are unable to execute large-scale events and promotions without overworking their staff and exhausting their resources.
Focus on a Niche
Small business owners with specialty stores, products and services can take advantage of niche marketing to reach their target clients. Niche markets give small business owners a competitive advantage. In-store events targeted to consumers with similar interests and buying behavior can generate sales leads for small business owners. There even is the opportunity to form networking groups with other professionals within your niche, who are not competitors.
Strapped for Time
Small business owners spend so much time running the day-to-day aspects of their businesses that they often don’t have time to develop ways to advertise their businesses. Or, if they do come up with advertising ideas, the ideas sit untouched because owners lack the time to implement their plans or to delegate to employees.
Power of Word-of-Mouth
Small businesses rely on word-of-mouth to help advertise their businesses to potential clients in the communities they serve. From posting reviews on social networks like Twitter and Facebook to using personal blogs to document experiences with businesses, consumers drum up free publicity for small businesses.