How to Advertise Online Cheaply

Online advertising can be a cheaper alternative to traditional advertising options.

Online advertising offers a targeted method of reaching your customer base. Customers may see your advertisements based on search engine inputs, when reviewing websites or through targeted marketing messages. While some advertising options offer inexpensive advertising, finding a method which results in the greatest impact for the lowest cost should be your focus. Look beyond the initial cost of advertising and include the cost of advertising delivery, creation and management. Opting for a cheap advertising method that reaches your target market and encourages purchases can increase your sales, profits and long-term business success.

Instructions

1. Create your advertising budget. Assign a total amount of money that can be spent over a designated period of time. Some advertising options can eat up funds quickly, while others spread out expenses over time. Ensure your online advertising budget is in line with your overall marketing objectives, available cash flow and business goals.

2. Learn about online advertising options. Review search engine advertising options, behavioral marketing, email marketing campaigns and display advertisements such as banners and rich media. If cost control is essential, focus on self-directed advertising options such as websites, blogs, social media sites, e-newsletters and direct customer promotions. Review community websites, partner exchange advertising, online newspapers and local online advertising options for free or low-cost options. Investigate the cost, employee resources necessary and the potential customization features of each advertising possibility.

3. Create a decision matrix. Place your advertising options along the left side of a piece of paper and your decision criteria along the top. Include decision factors such as the ability to target your customer base, overall cost and the employee overhead to produce and maintain the campaign. You can create the matrix on a physical piece of paper, or use spreadsheet software.

4. Complete your matrix with cost estimates and decision rankings. Obtain the cost estimates using the tools offered by advertising providers, the average cost of each employee hour or an advertising company's cost proposal. Consider gathering multiple manager perspectives when determining rankings for a comprehensive review.

5. Evaluate each option in terms of total cost to find the cheapest advertising options for your business. Select the option that will give you the biggest potential return for the lowest cost.

6. Review your advertising selections during and after initiation. Ensure the cost estimates are in line with actual costs and make adjustments as necessary.

7. Analyze the results of your advertising campaign. Determine the actual sales impact or business exposure of your selection. Use this information to make adjustments to future online advertising decisions.

References

• "Inc."; How to Manage Your Online Advertising; Tim Donnelly; August 2010
• "Entreprenur"; The Basics of Local Online Advertising; Amanda C. Kooser; March 2007
• "Entrepreneur"; Integrate Your Online Advertising; Danielle Babb; July 2009