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Advertising Plan For Your New Business Launch


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Launching A New Business

advertising a new business
Opening a new local business in town generates excitement within the community. Just having a coming soon sign over a previously empty retail space can generate a ton of buzz and interested customers. This is the advantage of owning retail space and is how brick and mortar business survive in today’s economy. Each person that passes by the building see’s the branding and your business gets an impression.

However, where a lot of new business owners fall short is expanding upon just people driving past their building and generating impressions through other media and advertising platforms. Today, I will discuss other ways business owners can generate buzz for their new business to have a packed business on the opening day and establish life long customers.

Advertising Area’s

Besides your retail location there are many advertising platforms new businesses can use to generate impressions among potential customers. These include:
Newspapers
Web Advertising
Televisions Ads

Since new business owners have limited resources and need to get the most out of their advertising budget, the good news is there are ways to successfully advertise through all these mediums without spending an incredible amount of money. If you do not go into the launch of your business with a real advertising plan you will always have lack luster results. You cannot rely on the location of your business as your sole method of advertising in today’s market. The competition is fierce and company’s that have been reliable and developed a reputation with customers over decades are going to be hard to compete against.

The first step to any advertising campaign is to clearly define your business differentiators. Your advertising plan will be based on this differentiation. To steal customers from the competition you need a plan that is appealing enough for people to be excited enough to leave their long-term relationship with the competition. This is going to be difficult unless you have a plan that can really entice customers to give your business a shot.

Spend the most time refining your differentiation and developing a market analysis. Discuss what your target customers needs are and how your business can better fill those needs then the competitors business.

Advertising Through Newspapers

new business advertising

You have 2 ways to get your business into the local newspapers. 1 way is to buy an ad, but if you were like me when I first started out I simply could not afford to buy ads in newspapers. The second way is to develop a press release or get a review.

A press release is difficult unless you have experience and developed relationships/friendships with the editors in the local papers. If you are aiming to get a press release you need to put something exciting and newsworthy about your business in a well written release to have any chance to get published. Newsworthy simply isn’t saying we are cheaper or we have better quality. While those are key differentiators that you will want to convey to the readers it will not get any newspaper editors to publish your piece. The best course of action here is to reach out to the editor who writes the business section or a section of the paper that your business falls under. Make a connection with the editor. You can meet them for a drink or offer them something free to establish the relationship.

If you build up the relationship enough you will get an opportunity to get your piece published in the paper. Another way to get a review on your piece is to offer the writers something free. For instance if you open a restaurant you can give the editor a free dinner for 2 or more people for them to come to your restaurant for free. While this doesn’t necessarily mean you will get a review their usually is a mutual understanding that you are offering a free dI inner in exchange for a review in their paper.

Advertising On Television

tv ads

TV ads give your business an instant boost in validity. The good news about TV is they are relatively cheap provided you can get a commercial produced. Producing a commercial (especially one that is high quality) could be insanely expensive for a new business owner. Again if you are in a position like I was there is now way I could afford an expert studio to produce my commercials. However, if you work hard enough there can always be a way around this.

The best business owners know it is impossible to pay full price for everything when you are just starting out. There simply is not enough money. When you are lacking money your only solution is to turn to your network. When I needed a commercial made I turned to my entire network. I then had my entire network reach out to everyone and I was able to get a well produced first commercial. One of my friends had a friend from high school who was making youtube music videos. The group was becoming increasingly popular, but they hadn’t made it by any stretch of the imagination. The group was talented but they did need some money to fund their future videos. Due to this I was able to negotiate a very favorable price for them to produce my video. They had sound and video engineers and the commercial came out like I had a 100,000 dollar budget. I spent less then $1,000 to get the commercial.

Once I had the commercial filmed the ad space was barely a blip on my expenses to run 30 second ads on local TV stations and on national TV stations within local markets.

Advertising on The Web

remarketing
Your goal should be to have all your advertisements hit at the same time causing your name to be visible to all your customers in your local area. While you are running the TV and newspaper ads you want to be ready on the web as people will undoubtedly be searching for your business after they see the ads and newspaper articles.

Once your name has hit and a customer needs your service or product they will usually turn to the web to search for it either by your company name of the type of product. Since you are brand new there is no way your business is going to rank organically against the competition. TO make up for this lack of visibility you need to run ads on search engines and social media to get your name in front of them even more. After all you don’t want the customers to see your ads then find your competition online and go to them instead.

Search engine, social media and remarketing ads are going to be super important. Set up a Google and Bing Ads account to target your business name (branded keywords) and keywords that involve your product or service. Also set up display remarketing ads so that if a customer does click on your ad and doesn’t purchase right away your ads will show up on other websites they visit. Remarketing is an effective way to nudge your customers to your business as they will continually be seeing your name and you will be establishing credibility and trust.

You can also use remarketing in social media. If someone visits your website you can have your ads show up in their news feeds if you take advantage of remarketing. This step is especially important for businesses that revolve around major life changing decisions. Such as buying a home or car, or going on a diet and exercise plan. Since these types of decisions aren’t made in one day you want to keep showing up and reminding your potential customers that you are there for them.

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