Why advertise? Businesses advertise for different reasons, though many do not think before making an advertising decision, many times it is a spur of the moment thought maybe even for charity. The only charity you should be advertising for is advertising that generates revenue for your business either directly or indirectly or both. Let’s go over the three different advertising options then you can decide which would suit your business better.
Direct Advertising: TV, Radio, Newspaper, Local Flyers, Banner ads, Text Ads, or Billboards – The non-internet ways of advertising normally only will benefit your business locally and this type of advertising is the most costly and to be quite honest you would be better off optimizing your website before opting for spending the money required for non-internet forms of advertising. Billboard advertising normally will cost you $100 per day, again with no guarantee of results. Newspaper advertising is almost as bad with a full-page ad for one day costing more than a couple thousand dollars per day, again with no guarantee of results. Yet most business people do not want to spend more than a thousand dollars on a website and think with this site they will be seen by the masses! Wrong not going to happen.
Business Directory / Business Classifieds
Indirect Advertising: Online directory listing, Online business listings, Online Classifieds. When you can find high ranked directory listings this can be the most cost-effective way to advertise as most directory listings will last a year before you will have to pay a small fee to have your site link on this site. With a directory listing also you have the ability to update your listing incorporating quality keywords relevant to your business. Many directory listings will run anywhere from $40. to 200. per year depending on what type of listing you would like. At Golden Advertising we offer a few high ranked business directories where you can place your listing which include:
Business Directory Listings
NationalRoadEast.com – A business directory for businesses located on the National Road, ranks very well for any keyword relative to the National Road so if you have a business located on the National Road it would benefit you to have a listing on this site, saves you having to optimize your site for these keywords, your listing lets you know how many people view your listing plus it offers a google map so people can find your business or click on a link to go directly to your website.
OhioAd.com – This business directory ranks well on all of the search engines for keyword relative to Ohio business, again a very cost-effective way to advertise.
MotelOhio.com – Our travel directory ranks well on all search engines for terms relevant to Ohio Travel making it another cost-effective way for your Ohio travel business to get noticed online.
PanTravels.com – This travel directory can provide you global exposure and it is one of the highest ranked travel directories online, check Global Travel Directory on Google or even Best Travel Directory on Google and you will see Pantravels.com on the top of these searches. Give your travel business global exposure by placing a travel listing on this website.
Both: Online directory listing, Online business listings, Online Classifieds
Direct Advertising / Indirect Advertising
Direct Advertising in many cases is the most expensive type of advertising, especially using newspapers, tv, radio, flyers, billboards which are the least cost-effective ways of advertising for the money that you spend in many cases you will get the least rewards.
What type of income do you need to generate to make a $150.00 display ads either in a local paper or flyer a worthwhile investment? A standing rule of thumb to justify an expense is 4 times the cost is the break-even point. Based on this you will need to generate $600. to justify that $150.00 expense, so you should track expenses on advertising when possible to justify expenses.
Billboard Advertising may cost upwards of $1000. a month on the interstate and $200. a month on less traveled roads, this form of advertising will need to generate $800. – $4000. per month to justify the expense. The plus about billboard advertising is that it works 24 hours a day, 7 days a week for you whereas newspaper and radio are a daily expense or time used expense making them very expensive especially for small businesses.
Online Business Directories – These work two-fold meaning they are both direct and indirect advertising for your business, especially valuable if you have a website and by far the most cost-effective way of advertising. One important note on this is if the directory that you have a listing in is properly optimized where it is ranked for relevant keywords otherwise that online directory listing becomes like direct advertising only options. A directory that is properly optimized is a cost-effective way to not only bring direct business to you but also indirectly help your website rank better on the search engines. Many directories charge a yearly fee to be on them, usually 100 – 200. per years making it the best way to build business both direct and indirect.
Online Classifieds / Business Advertising
Online Classifieds / Business Advertising – Also a great way to produce direct and indirect advertising for your business. Usually very cost-effective, Again though this depends on if the site you are advertising on is properly optimized for rankings or not. It is kind of funny but some of the larger sites which are stock owned have no rankings because they have the money to pay for direct advertising, thus you only receive one benefit from these sites and that is direct advertising, as such they may charge more than a smaller site that is properly optimized and provides both types of advertising and is much more cost effective.
If this all sounds a bit complicated it is, but to be successful in business today you need to understand the difference so that you are not advertising your way into going out of business. Other great ways of advertising are through social networking which I will go into in another article.
Text Advertising / Banner Ads
Text advertising can be a very costly venture especially with the larger websites and when I have tested these venues they have not produced any results per say, all I can say is you better have deep pockets, I would suggest trying for a month and see if it generates any additional revenue for your business and remember the break-even scenario that I went over at the beginning of the article.
Now with some of the smaller sites, this can be a great way to advertise as many charge monthly rates while you need to steer clear of the ones that charge by the impression. I have also tried advertising on some of the social networks and like the major search engines, they produced no results for me just cost a lot of money. Again I would suggest trying for a month and watch it closely to see if it works for your business, with my businesses though it provided no increase in revenue.