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How Small Businesses Can Invest More in Advertising

Fourth Source 22 May 2019 08:00

Advertising is ubiquitous in nature, but it is a necessary effort for any small business that wants to grow and thrive in a competitive marketplace.

The saying “you have to spend money to make money” is very true when it comes to advertising.

According to The Manifest, nearly 90% of small businesses invest in advertising, and 91% plan to increase ad spending this year. However, a third of small businesses surveyed spend $10,000 or less on their advertising endeavors because they believe they lack the funds to implement a successful advertising strategy.

What do small businesses spend annually?

Still, as Entrepreneur states, small business owners need to be realistic about advertising spending. It is extremely rare to find a solution that is simultaneously effective and inexpensive.

Simply put, if your small business wants results, there is an associated cost.

Rather than wildly spreading money across different advertising channels and hoping for a windfall, it is better for a small business to increase its spending wisely. That means putting the right amount of money in the right media channel(s) to ensure the company gets the desired results.

Because many small businesses lack the staff to collect and disseminate this information, it may be wise to partner with an advertising agency that can provide competitive intelligence to understand your advertising ROI, shape future campaigns, optimize planning, and drive sales.

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Kristen HerholdFacebookUS
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