Advertising and Your Budget
Advertising is a necessary expense. You will have limited success in your business if people are unaware of who you are and what services you offer. It is possible, however, to advertise without breaking the bank. While many modes of advertising cost money, there are ways to make it more cost-effective. Your first step is to determine how much advertising you need. Identify what you can afford to spend and create a budget and plan that fit your financial needs.
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Don't forget to consider the cost of producing the commercial. Will you do it yourself, use a professional advertising company, or can the station produce the ad? These costs may be extensive and will need to be included in your budget.
Stay Within Your Budget
Your advertising budget will usually come from a percentage of your gross company income. If you find you have limited funds to put toward advertising, you will need to locate or create low-cost mediums that put your company in front of many consumers at one time. If you have a substantial budget you need not be concerned, but this is rarely the case for entrepreneurs and small business people. Play it smart and do only what you can afford — there is a point where cost outweighs benefit.
Free or Low-Cost Advertising
Most likely, if you own a studio or small personal-training business, your advertising budget will be small. You may have little or no funds to allot to advertising. But even with the smallest budget, there are ways to get your message out to your target audience; you simply have to work a little harder. With some effort and planning, you can be your own ad agent and make your business visible and appealing to the public.
The least-expensive form of advertising is word of mouth. The only drawback is you also have little or no control of the messages being relayed. Strategically placed flyers cost pennies and can generate business and name recognition. Post them in areas frequented by potential customers. E-mail communication is also free, but it is up to you to obtain addresses for a mailing list. You can send out weekly or monthly e-mails to your current and potential customers to keep your business visible.
Local newspapers typically offer a small space for press releases. These spots are offered at little or no cost and are a great way to announce to the public that you have a new product or service, a new location, new employee, or a special promotion.
If you have the interest and ability, you could offer to write articles pertaining to health and fitness, or even an advice column at no cost to the paper. In return, they may grant you some advertising space or put information about your business at the end of your article. You may not be getting paid, but having the free advertising and public relations is worth more than monetary compensation.
