by VENTRE Magazine

I Can’t Afford to Advertise

14161407371What comes to mind when you get hungry? Is it the food you just purchased from the grocery store? Is it that delicious cheesy pizza that you saw on the recent commercial from Papa Johns, the sizzling steak from Chili’s or the big juicy burger from Red Robins? Maybe it’s none of the above, but it’s likely something similar. The reason being is due to effective advertising. It’s the art of creating desire.

For instance, you see the delectable looking food from Texas Road House, there might be several restaurants that offer a better steak between you and that place, but you’ll pass them up. Heck! You might be able to make a better steak at home and for a lot less money, but you’ll make the drive because you want to experience what you saw on television.

Once you try the food and walk away satisfied, the memory will likely be permanently ingrained in your brain. Now you no longer need the commercial to influence your dining choice. You are now sold, but just in case you need a little reminder, the ad will appear again in the future to keep you engaged. Before long, you return with your friends or tell them they need to go try it. That’s when you really start to see the value of your marketing dollar.

I hear it all the time. “Advertising is too expensive.” “I can’t afford to do it.” “I don’t need to do it.” Fact of the matter is, advertising is crucial to the success of any business. Surely you don’t think that big businesses spend millions each year just because it’s a fun thing to do. They try to make you laugh, cry, feel good or any other emotional string they can draw on to influence your buying habits. Yet somehow, we as small business owners totally dismiss it as if it’s a luxury.

Of course we don’t have millions of dollars to spend on advertising. If we’re lucky, we have a couple thousand. Therefore, we want to be as strategic as possible. We want the biggest bang for the buck. We must seek out cost effective ways to bring customers without putting ourselves in a bad financial situation.

That’s why we encourage business owners to become members of The Link. The Link offers free advertising as well as many other programs that a business can use to grow their business without charge. While it’s important to make sure that you’re not wasting money, advertising is very important for the success of your business. Monitor the expense compared to results. That’s the best way to know whether you’re getting the bang for your buck.

Eric L. Lipsey
President/Co-Founder
Phoenix Business Development