Posted on: December 17th, 2009
One of life’s basic rules goes something like this: if it seems too good to be true, it probably is. That can be the case with used cars and blind dates. But every once in a while you’ll find a great deal that actually turns out to be a great deal. Generally speaking, the price of a product or service is directly related to quality. Higher priced goods are better quality, while poorer quality fetches a lower price. Past experience can lead to prejudice, status can determine value, and both can hike costs.
No one should have to settle for second-best because of budget constraints, especially small business owners. Fortunately, there are creative ways to get both great quality and affordable prices. If you have a product to offer, but don’t have a large advertising budget, there are different ways to get the effective advertising you need.
The Internet is a great resource of shared advertising. By placing your advertisement on another individual’s or company’s website, and returning the favor, both parties will receive double the exposure and frequency of hits. Again, shared advertising is most effective if it appeals to the same target audience. It goes without saying that an ad for senior’s health products may not get great results if paired with a punk rock clothing store.
Also called “bartering”, trade advertising is exchanging your product for advertising space. Bartering for ads can give small businesses excellent opportunity and value beyond what they could normally get, even with a bigger budget. Advertising on the radio, cable and your local newspapers or magazines can give a definite perceived value for your product; but by trading your goods or services, you haven’t spent a bit of cash.
Even more value can be found in an endorsement agreement. Convincing a radio or television host to endorse your product is the best form of advertisement you can get. You will provide the host with your products or services up to an agreed amount, and he or she will say wonderful things about your company on the air. You can’t put a price on this type of broadcasting power.