How much are you spending on your business advertising?
don’t sADVERTISING SPEND CONTINUES TO GROW AND SMALL BUSINESS OWNERS NEED TO KNOW HOW TO GET THE BEST BANG FOR THEIR BUCK!
WE ARE GOING TO HAVE A LOOK AT SOME WAYS SMALL BUSINESS MAY SPEND THEIR BUDGET ON ADVERTISING AND GENERATING MORE LEADS.
Leaflet drops or distribution is still very popular because it’s realitive inexpensive but their is a catch! Of all the households your flyer or leaflet is to delivered to, how many will
A) throw it straight into the recycle bin.
B) read it.
C) keep it for later use.
The avearge cost of a leaflet distribution is approx’ $40 per thousand, not including the design process. So to distribute 10,000 leaflets, the cost is $400.00
We’ve all seen banners attached to fences and bridges. Some are mesh and some are vinyl. Do they work? Some may say if the banner is placed in a high traffic area their business get exposure. Do people actually take notice? Will the banner make your phone ring? It’s hard to say. Some drivers may see the banner, while others wont. Will they have time to remember your phone number while they are driving? There are too many unknowns to measure the success of banners. But for the purpose of this article, we’ve checked online and the average cost of a vinyl banner, approx 180cm x 150cm is $300.00
Bus advertising is very similar to Banner advertising. The main difference is the banner is moving through different areas. bus advertising shares the same concerns as the banner on the fence. Does anyone notice? Is anyone actually writing down your number of visiting your website? Are you even asking how they found your business? The cost of bus advertising varies from State, Government owned buses to smaller private bus services that are located and service some suburbs. Our online search suggests bus advertising, on average costs approx’ $300.00 per week.
PAYING FOR LEADS FROM WEBSITES
There are plenty of websites that offer your business, especially if you’re a tradesman the opportunity to register with them, receive leads and the chance to quote the leads you receive, for a fee. This may sound like a great way to get new business and increase your work. However, it can get expensive. We have found that some of these website charge as little as $20.00 per lead, and some as much as $50.00 per lead. Let’s assume you’re only paying $20.00 per lead, which isn’t very much at all. However, 3 to 5 others are also receiving the same lead. In order to get the job, you may have to be the cheapest quote! Afterall you are in competition with 3 to 5 other businesses for the same job! Note: You still pay the lead fee, in this case $20.00 even if you do not get the job!
So you can imagine this process can be frustrating and costly if you only rely on this way of generating new leads.
SOCIAL MEDIA ADVERTISING
If you’re a small to medium business you’ve probably tried your hand at social media advertising such as using Facebook Ads. The cost of advertising on Facebook can be as little as $20.00. We’re not certain what it costs to generate large amounts of leads, but there seems to be an average spend of $500.00 per month being advertised by some online social media marketing agencies.
SEARCH ENGINE ADVERTISING
Search engine advertising is when you pay to advertise your business on a search engine like Google, using specific keywords for your ad to appear on the search engine. Sounds easy right? Well it is and it’s not. As you can imagine, you get charged for every time you’re ad get’s clicked. Now to get that click first, you are paying a certain amount of money for the keyword or keywords you are using. With this in mind, so are thousands of other businesses in your field. So each click that directs to your website could be as little as .20 cents, or as high as $10.00. Much like the social media advertsing, we have seen that the minimum spend for success is $500.00 per month.