When we talk about low cost advert strategies we simply mean cost efficient advertising strategies. Advertising has become a very vital part of any business especially in relation to marketing and sales, today it is very obvious that most businesses cannot survive or achieve the needed growth without good advert strategies especially the ones that are cost efficient. Putting up an advert requires a lot of work and fund too, but we want to provide you with more cost effective or rather low cost advert strategies .
Cost is very crucial in anything that has to do with business and as such should be paid close attention to. In relation to advert strategies cost is also a major player and should be given needed consideration so that the money spent on advert will not affect the profit of the organization adversely. Also whatever strategy intended should be of minimum cost in relation to profit expected. It should also be noted that when choosing a strategy, some of the low cost strategies might be less effective and as such companies must find a way to strike a balance between low cow and less effective advert strategies.
LOW COST ADVERT STRATEGIES TO USE
Now we want to consider some of the low cost advert strategies you could use to promote your business and also boost sales. The next few paragraphs will throw light into which strategy is most cost effective and which is tailored to each business.
Some of those strategies would include
- PERSON-TO-PERSON OR DIRECT ADVERTISING: This kind of advert strategy is usually very cost effective and can go a long way to send message to the target customer, it cost much less than the other advert strategies and has a far reaching effect. Moving on foot from store to store or house to house to give information about a product and enlightening the customer of how well the product will cater to his/her need, it also give the opportunity to interact with the intended customer and also get feedback of what they feel about the product, what changes they would want, and how better they would want to be served. This method has proven to be very cheap and very effective and could be applied to most businesses.
- PRINT MEDIA: This is another method that is also proven to be a low cost advert strategy, asides the newspaper that is a little on the high side, other forms of print media like fliers, posters, handbills, stickers, etc usually cost less to produce especially when it is done in large quantities. These fliers, handbills could be dropped in strategic places that have a lot of human traffic like banks, hospitals, churches, bus stops, shopping malls and a host of other. Some companies have also sorted the service of young people on roller skate who share these fliers in traffic to those in their vehicles and other road users. Posters also are pasted in public places where they can be seen easily, with this means the message intended has reached a large coverage area and people too. If this method is properly used and well structured it can reach more places than other advert strategies.
- DIGITAL MARKETING OR SOCIAL MEDIA ADVERT STRATEGY: Many forms of social media advertising are free to use and can generate a lot of traffic for your business. A business profile on the various social media platforms can well n this sense, also use of a business blog like BUSINESS YIELD to connect to your intended customers. You can share news about the business as well as new products and promotions offered so as to entice potential customers, and always keep the platform active so customer can build confidence in the business.
- TRADE FAIRS: This is another low cost means to showcase your business. When a trade fair is organized it provides the opportunity for business to bring their business to a wide range of customers and also display most of the products of the organization. Also the potential get to interact with the business directly and not middle men which in the long run boost the confidence of the customer.
- HOSTING AN OPENING CEREMONY: this is very cost effective, like most grand opening or similar event at the place of business, it gives the intended customer the opportunity to get first feel of what the business is about to offer to them. Just like some drinks companies, they could serve free drink for taste, or also give away some of the new products for free, like the automobile companies could organize free test driving for their new vehicle. This will entice the customer the business.
- COLLABORATION: sometimes firms with similar product could come together to promote each other’s products. By the a customer is forced to believe in the product because a supposed rival firm is now promoting the product one each other, and this can greatly reduce cost of advertising alone.
- ROAD CAMPAIGN: most businesses have used this method a lot; it involves going around town in branded cars or an entourage with loud music on, showcasing new products of the business. It helps the business to effectively create awareness about the business and it products.
Having mentioned some of the low cost advert strategies, companies should bear in mind that not all the methods might work for their product or type of business, and should find the best strategies that will work effectively for their business and use such method judiciously.