Powerful, Affordable Advertising...

[Norri]

Used properly, these advertising resources can REALLY help a small business or entrepreneur catapult an idea into mass-acceptance / -usage.

Of course, used improperly, they'll just be expensive

1. Google AdWords - This one almost doesn't count anymore. It's very expensive for a "beginner" and you're likely to lose a coupla R1,000 here before you figure out the right keywords, right ad, the right offer, etc. But this is the grandaddy of "Powerful, Affordable Advertising". These dudes were the first guys to make it possible for a small business to advertise for R100-R500 a month and ACTUALLY make some sales / money. I love Google but I won't play here until I've figured out an ad, keywords and offer that already works.

(Realistically, upward of R2 per visitor)

2. Facebook CPM Advertising - Awesome if you have an idea of what demographics you want to market to. Their CPC turns out to be a tad expensive so, unless you have a product and sales-process that works well, I wouldn't experiment there. Once you do, it could turn out much cheaper than CPM. Depends on your industry, product, etc.

(As little as $0.10 per 1,000 ad-views)

3. StumbleUpon - You fund your account, you pay for visits. That's it. If your site turns out to be popular (many thumbs-up, good reviews, etc), then the viral aspect of this baby kicks in and then you KAK yourself :P Most sales-sites won't work well here but forums, image galleries, article sites, etc can do quite well. CAPTURE the visitor by offering a newsletter / RSS feed to keep 'em coming back!

($0.05 per visitor. Period.)

Definitions

CPC - Cost per click. Someone clicks on your ad, you pay.
CPM - Cost per 1,000 views. 1,000 people view your ad, you pay. Clicks or no clicks.
Daily Budget - Self explanatory but CRUCIAL to succeeding in online advertising without breaking the bank

Add your suggestions / definitions / experiences below!

PS: Complain about bad advertising experiences in a separate thread!

[Norri]

Does no one here advertise?

[Dave A]

Does no one here advertise?

Yes.

The only question now is, is that yes - they advertise or yes, no-one here advertises

I know this much, everyone here tends to take their weekends seriously (which I kinda enjoy nowadays ).



OK then. Maybe I'd better get back on topic.

Norri, you've covered major online methods - can I include offline?

Some of this is affected by exactly what line of business you are in. For example, if you are a wholesaler, direct marketing to retailers via sales reps and catalogues would probably be the most cost effective.

It is when you are trying to reach the general public that things start to really get interesting. To my mind the most cost effective method of marketing in the service industry is vehicle signage. Retail - shop signage.

But there is also an issue of scale. If you are big enough, TV adverts must surely work, otherwise washing powder, soft drink etc. manufacturers wouldn't be spending their money this way.

[Norri]

Thanks Dave

I'd actually love to hear more about offline methods. I know a few people who have had decent success with dustbin ads. They plastered them all over the city and kept them running for 2 years or something. Got plenty of business through that. I reckon if you choose your bins well, it's a worthwhile strategy.

[Ryan S]

At the moment almost my whole blog is on this topic. Traditional advertising has never been less effective in history! The new consumer is becoming more and more immune to TV ads, magazine ads etc. More and more big companies are moving their advertising budget online. I have pages on this topic on my blog. go check it out http://digi-business.blogspot.com. On the recommended reads section there is a book called Doing Business Digitally by Godfrey Parkin. It is a great book and will really change the way you think about business.

[Dave A]

The new consumer is becoming more and more immune to TV ads, magazine ads etc.

Is it really that different online? Ad blindness is a known phenomenon amongst online publishers.

More and more big companies are moving their advertising budget online.

Is there any quantative evidence that big business is actually spending less on offline advertising?
My feeling is that, just like any new medium, it is attracting a budget, but has it really taken away from the old medium spend, or is it just attracting some new money?

For example, what is Coke's budget for online advertising? I can't recall seeing any paid Coke ads online - but maybe I've been looking in the wrong places.

[Yvonne]

CC Africa (luxury travel safaris), have a brilliant marketing campaign - Competition with a one week vacation for winner plus 7 friends, enter contact details of said chosen friends, they receive an automated e-mail advising that you chose them to accompany you - should you win!, and asking if they accept the invitation? (Entry naturally has some qualifying questions!) Then your friends enter and list their friends etc. Some duplications, but think of the eventual database of "qualified" clients! Wow! costs restricted to just the prize of 7 people one week vacation! and good software?

Yvonne

[Norri]

I must tell you guys, I've been playing with Facebook Ads a lot these past 2 weeks and the results have been nothing short of inspiring!

Their CPM ads give you serious value for money. I set up an ad over the weekend and got 20-something targeted clicks to my guitar forum at about $0.01 a click!

The CPC model is much pricier though.

Just remember, when you set up an ad there, to be as specific with your demographics as possible. It means paying less for better qualified leads!

[Dave A]

Maybe something for another thread, but Norri, have you got any tips to share on ad targetting for Adwords, Facebook etc. ?

[kernel32]

Hi guys. Excuse me if this has been mentioned before...

Visa business network is giving away $100 in Facebook advertising credit to 20,000 small businesses. That’s right, $100 for free! All you have to do is install the “Visa Business Network� application on your Facebook profile. Go to http://apps.facebook.com/visabusiness/sign_up to add the application.

FROM Coolz

I'm not sure if this will be helpful to everyone, but for those registered on Facebook currently paying for advertising it will most definitely be. I urge you to do this without delay, as there are a limited number of coupons.