Experts estimate that businesses worldwide will spend $559 billion on advertising in 2021.
The Common Types of Advertising: A Guide for Businesses
As a small business owner, no doubt you want to increase exposure and bring in new customers.
With so many different types of advertising to choose from, how do you know which advertising options will work best?
It’s an important decision to make since companies like yours typically spend 1% of their annual revenue on business advertising.
In this post, we’ll walk you through five kinds of advertising to consider for your business. Keep reading to learn more!
1. Print Advertising
Before the digital era, print advertising was the main channel for companies to reach new customers. This type of business advertising includes magazines, newspapers, flyers, brochures, and posters.
Surveys reveal that Americans trust print advertising more than any other medium.
Although there are more modern ways to reach people, it’s still a viable option for drumming up local businesses. It’s also an ideal way to reach an older, less digitally connected audience.
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2. Social Media Ads
If you read a guide to paid advertising, social media is sure to rank near the top of the list. It’s one of the most affordable kinds of advertising and allows you to be very selective in who you target.
Facebook and Instagram are logical places to start, depending on your target audience. Seven in 10 American adults log into Facebook daily, while 60% of Instagram’s 1+ billion users are under the age of 30.
Both channels offer the option of video ads, carousel ads, and image ads. Facebook also has options like lead generation, special offers, page likes, and event responses.
3. Pay Per Click (PPC) Ads
If you’ve ever noticed ads while you’re browsing a website, you’re likely seeing PPC advertisements. These ads are common on search engines like Google and Bing, and you might also see them in banners or sidebars.
Businesses set a maximum budget they’re willing to spend each day and only pay when a user clicks on the ad.
When their daily budget is spent, no more ads are displayed. This is a terrific option for businesses on a tight budget.
4. Direct Mail
You’d think that old-fashioned snail mail would be ineffective in our modern era, but the opposite is true. Direct mail advertising encompasses brochures, catalogs, newsletters, and sales letters.
On average, a piece of mail will sit in someone’s home for 17 days before they discard it. This allows a lot more opportunity for people (perhaps every member of the household) to see your business advertising multiple times.
5. Email Marketing
Have you spent time building up an email list? Keep those contacts in the loop by setting up an email marketing list.
Create a “VIP” list to give past customers exclusive access to new products or special discounts. Send out a weekly or monthly newsletter to ensure you stay on their radar.
Even better, offer incentives for spreading the word about your business.
Which Types of Advertising Are Best for Your Business?
Small business advertising options may seem overwhelming, but they don’t have to be. Bookmark this article and refer back to it the next time you’re revamping your advertising strategy.
Now that you’re more familiar with the different types of advertising, what’s next? Keep browsing our site for more stellar business advice!
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