According to experts, how much to spend on advertising can range from 2% to 16% of gross revenue depending on where you put your dollars — print, yard signs, Internet, TV. Knowing where to advertise means knowing which market to target, what differentiates your company from another, and what type of work you do best. Figuring all that out, of course, costs money.
But what if you're marketing and advertising on a shoestring? How can you get your message out with a small investment or a series of small investments?
Knowing your message. “You don't want to be scattershot about a marketing plan,” says Dave Alpert, owner of Continuum Marketing in Great Falls, Va. He suggests working with a consultant to develop a simple strategic plan so that everything you do pulls together. “It's like working with a homeowner; you plan ahead, you don't go to The Home Depot every week and just buy things.”
While creating a strategy may quickly eat through your $2,000, doing so will save you time and money later. Even if you decide not to hire a consultant, keep in mind that every advertising and marketing tactic — from the font used for your company name and on your letterhead to the slogans on your postcards and the tag lines on your Web site — should be integrated with your strategic plan. And you have to maintain the discipline of marketing your company through good times and bad.
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