Advertising Your Small Business
1) Advertising Options‐There are many choices when it comes to advertising your business. Here
is a list of common advertising venues. This list is not exhaustive, however, and further research
will present alternatives.
d. Word of Mouth
g. Local Magazines
i. Novelties (such as pens, calendars, magnets, etc. with your name and phone number)
2) Matching Advertising Option with Your Budget‐Costs will vary according to your need. Word of
mouth is free, but not guaranteed. Some options can be purchased infrequently and are
relatively long‐lasting such as novelty items and signs; others can be expensive and short‐lived
such as radio and television ads. New businesses will have different needs than established
businesses. Established businesses may rely heavily on word of mouth, but start‐up businesses
may need to invest more money on advertising that can reach large numbers of potential
customers such as radio, television, newspaper ads, and novelties.
a. Low Cost‐ Word of mouth, Website, Flyers
Intermediate Cost‐ Novelties, Newspaper, Phonebook,
c. High Cost‐Television, Radio, Signs, Local Magazines
3) Target Market
Identify your target market‐ Determine major characteristics of your customers such as
age, preferences, income level, and repeat vs. one‐time customers.
b. Find your target market‐ Is your target market the local neighborhood only? Does it
attract customers from out of town?
c. Select appropriate advertising venue‐ Based on your budget, select one or more
advertising venues that has the highest probability of satisfying your advertising needs.
For example, you could invest the bulk of your resources into a television spot that will
be on air for three months, store‐front signs that will be permanent, then pass out flyers
and tell friends and acquaintances about your business.
4) Creating Your Advertisement‐ No matter which advertising method