Marketing strategies come in a plethora of shapes and sizes for all businesses. Since the adoption of the internet as a tool to start a business, it’s more important now than ever before to understand the basic principles of marketing and advertising. Without a firm grasp on these skills, your business may live a very short time.

 

Diving into advertising, understand there are only two main types of advertising, paid and free. Each type of ad should have a strategic place in your company’s marketing strategy. While you may find online sites and sellers offering how to teach you where to advertise for free to grow your business, make sure to check the fine print where they ask for only a small payment of $37.95 or some such ridiculousness to get you started. Right away, you should see this isn’t free. You’ll also find that once you invest in their “free ad” system, the places recommended usually don’t generate a good return on your investment (ROI). This is not to say free advertising options don’t exist and aren’t beneficial to your bottom line; it’s to say free ad sources cost time that may not present a decent ROI.

 

Often new and small business owners worry they don’t have the budget for paid advertising. The reality is you don’t need a large budget. As long as the ads you pay to run are strategically placed in areas your customer base will find them and are directed to that audience; you’ll do well. Keep in mind, if you spend $100 on advertising, and it generates $100 or more in profit, you’re already ahead. So, how do the more prominent players do it?  When they initially begin a successful ad campaign, any profits made from the campaign are reinvested into more ads. With ad tracking software available, it’s easy to see which campaigns are hitting the mark and which ones need to be trashed. If you track your ad returns, you’re likely to get rid of any ads not earning their keep and capitalize on those doing the heavy lifting for your business. 

 

Once you understand how to determine the right audience, ad copy, and placement, creating new ads is quick and painless. That simple formula can be rinsed and repeated often with new promotions, products, and services and quickly net you a positive ROI without costing a lot of time. As the cliché goes, “Time is money.” Spending a little time and little money to make more money in return is a plus. On the other hand, free advertising forms take more time and therefore may not ever provide the ROI for your time value of money. Keep in mind, while running paid ad campaigns, it’s a great idea to supplement your marketing strategy with avenues for positive customer reviews and customer feedback. Those simple forms of free advertising can go a long way in helping to build your business over time.