Stretching Your Ad Dollars

It is so important to continue to advertise during the current economic downturn in order to gain market share.  Yet so many small businesses say they don’t have enough money to spend to make an impact.

Time to get creative! A recent Wall Street Journal article shared examples of small businesses partnering with larger firms to reduce their advertising costs.  There are ways for you to do the same.

In addition to mirroring the examples in the article, are there other businesses you could partner with to share advertising costs? Is there a business who is a natural fit for yours?  A caterer and an event coordinator?  A dry cleaners and a tailor?  A salon and an image consultant?  Share an ad and share the costs.
What about your local Chamber of Commerce?  Often there are opportunities to advertise with a group of other community businesses.  The same is often true for other associations from a Downtown Business Association to the Master Builders Association.

One other area most small business people don’t even know about and certainly rarely take advantage of is co-op advertising.  This is when a large brand pays you to mention them in your advertising.  If you sell major name brand goods or services, ask your representative about co-op advertising dollars that may be available.

It is important to continually be in the marketplace; in person, on the internet and in a wide variety of other medias to reach as many potential customers as possible. Look for targeted marketing partnerships to both stretch your ad dollars and grow your business.

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