Small business owners often ask us: where should I advertise?
Choosing the best advertising channels for your small business can be tricky. With so many options available, it can be hard to know where to start.
In this blog post, we will discuss some of the most popular advertising channels and how to select the best ones that will be strategically beneficial for your business.
Plenty of advertising options for small businesses
Here are some examples of advertising channels:
- Facebook advertising
- Google advertising
- Print advertising
- Outdoor advertising
- Radio advertising
- TV advertising
… and more!
Which advertising channel will take my business to the next level?
The short answer is: it depends.
It depends on:
1) Who you are targeting?
Who do you want to reach with your message? Different platforms work better for specific demographics.
2) Where you are targeting? (category or location)
Are you targeting a particular sector (e.g. e-gaming businesses) or businesses in a particular location (e.g. Isle of Man). The answer will help you narrow down the advertising channel e.g. print ad for a local newspaper or a sector-specific publication.
3) Which part of the marketing funnel you are targeting? (why)
Is your advertising objective to gain reach (top of funnel or TOFU) or to convert interested potential customers to choose to buy from you (bottom of the funnel or BOFU)?
If you are aiming to raise brand awareness (TOFU), follow the Ehrenberg-Bass Institute principle of sophisticated mass marketing, which suggests that you should aim to target everyone in your category or sub-category. TV and outdoor advertising are amazing for this.
Google advertising works better when there is ‘intent’, so it works wonders if you are aiming to convert potential customers further down the funnel (BOFU).
However, there aren’t set rules as to which channel works for awareness vs performance. How you use the channel will also help you attain your objective.
“It’s not that any one media channel is just capable of doing one thing. Actually, most channels can be used for short- or long-term impact depending on how you use them. It is not about the media channel as such, it is the way you use the media, the targeting, the format etc” ~ Les Binet, recognised Econometrics and Speaker.
So, if your Facebook advertisement message is tailored to convert, it can help you with your bottom-of-funnel objectives. Likewise, a Facebook advertisement whose copy grabs attention and interest will work for your top-of-funnel objectives.
4) What is your budget?
Large businesses often advertise in all or most of the channels out there. You may not be able to, and you don’t need to! Instead, follow their approach: advertise on more than one platform to gain synergistic benefits.
” …a combination of unduplicated reach, the diversity of different tools doing different things and the synergy of putting them all together.” ~ Mark Ritson on the advantages of advertising in more than one platform. Read this article in the Marketing Week to find out more.
Choose 2 or 3 platforms, that fit your budget but achieve your aim.
For example, if you can’t afford TV advertising choose YouTube. If you can’t afford print advertising, choose FB advertising.
A Facebook ad campaign with a ‘reach’ objective for an audience in a small location e.g. Isle of Man, will ensure your message is exposed to all of the audience you choose to target.
Test and review the impact of your advertising
Once you’ve selected a few promising channels, testing them out with a limited budget is always a good idea before investing too much money into any one channel.
Don’t forget to review your results regularly and adjust your strategy as needed.
But remember: advertising is a small part of your marketing strategy
It is important to note that advertising is percentage of the larger marketing picture. Before considering advertising, you need to have done your:
- diagnosis: understanding your market
- strategy: segmentation, targeting, positioning + objectives
And there are other tactical elements that you can ‘play’ with to reach your objectives. Such as, price, product, and other marketing communication channels (PR, events, sales, promotion etc).
They are all necessary ingredients to ensure your marketing will drive your business success.
Let us help you strategise for success in 2023!
We hope that this blog post has helped you to understand some of the most popular advertising channels and how to select and use the best ones for your business.
If you’re still feeling uncertain on how to get started with an appropriate plan and tactics, don’t worry – reach out! Mann Social would love to lend a hand; simply drop us a line at firstname.lastname@example.org and let’s chat about what’ll work best for you!