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How to Make The Most Out of Your Advertising Budget

If you have a small-scale business, you are probably also on a tight budget at the moment. Not only is this due to all of the complications that you have no doubt had with the pandemic, but also because things are becoming more expensive, and with rates still on the rise, you are going to be scraping around for cash. 

However, you still need to make sure that you budget for your essentials, such as advertising, and, when you think of advertising, you probably think of the big Times Square billboards or flashy television advertisements that cost a small fortune to produce. If you are honest with yourself, the likelihood of your business getting onto TV is slim, and that is only because of how broad the world of advertising really is. With that in mind, here are two tips on the best ways to advertise your business when you are on a tighter budget. 

Tip#1: Do your research

It might seem obvious, but you absolutely cannot have the faintest hope of getting your money’s worth out of an ad or commercial if you don’t know who you are marketing to. You need to figure out who your target audience is and who your main sales leads are so you are able to make the most money out of what can be costly advertisements. 

You can do this through heavily specialized software such as Power BI. Power BI, otherwise known as Business intelligence, is a software that will help you collect data, present it all in charts, and other mediums to help you see where your products are going, who your advertisements are really reaching out to, and where everything might be falling a bit short. You need to make sure that you are taking full advantage of your business’s potential and the customers you already have and using software like this is exactly how you can do that. 

Tip#2 Use social media

This cannot be stressed enough. Use your business’s social media, use tags, use trends use as much as you can to get your business the most out of potential publicity. It is one of the best things about social media. Look at what you can do to make your business appear on as many people’s feeds as possible. Every ‘like’, every page visit, and every ‘follow’ helps your business get more visibility. 

Another great thing about social media is that you can spend as much money as you want on it, and at the moment, businesses can promote their products or services for free. So, you can spend five dollars on a shoot, write a caption, create some tags and you have an advertisement. TikTok, Instagram, and Twitter are all great places to begin your advertising campaigns. It also allows you to interact with your followers and potential customers, see their reactions and celebrate product releases with them to help them embrace your business further, and help you build more of a connection with them to help push sales even more. 

Put simply, social media can be one of your best and cheapest assets if you use it right and can be a great way to help you get a high level of visibility quickly. 

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