Creating a Big Impact on a Small Budget

Small businesses are vital to any country’s economy. Take the UK as an example – of the 4.7 million business enterprises estimated to be in Britain today, small businesses (10 — 50 employees) are said to comprise the vast majority. And, accounting for just under half of private sector employment – 13.5 million people – they contribute to over 50 per cent of the country’s business turnover.

However, although small firms are an essential factor of the UK’s economy, the business world is cut-throat, expensive and fast-paced. Indeed, while over 500,000 people start up their own business every year, it is an unfortunate fact that many will not succeed in the marketplace. This can be attributed to the fact that competition is fierce and resources, especially for small businesses, are limited.

Of particular importance to the success or failure of a small business, is how it identifies itself within the marketplace. With over four million businesses, it is inevitable that there is some overlap in the products and services offered. It is therefore vital that a business understands who its competitors are, in order to produce a clear marketing strategy and thus create an image which stands out from the rest.

Advertising is an important part of any marketing plan, and, to be as effective as possible, its execution needs to be well thought out, appropriately placed, and pitched at the right level. Unfortunately, the cost of advertising can run into the thousands, or even millions of pounds and for small businesses with comparatively limited financial resources, it can be a daunting prospect.

The advent of the Internet, however, has brought with it numerous opportunities to advertise, either for free, or for a relatively low cost. It has also removed geographical boundaries, which is advantageous to smaller businesses that would not necessarily have the resources to reach such a wide customer base otherwise. Consequently, it is now the norm for most businesses to have an online presence, either in the form of a website and/or appearing in listings through online directories.

Directories are a particularly effective way to advertise online, without costing an entire month’s salary. This is especially true for those who find the prospect of creating a website, or programming software, worse than sitting through a lecture on the benefits of why equations are relevant, or for those who cannot afford to employ a web wizard to create a strong online image.

And, with the more recent directories, it is possible to utilise such media tools as blogs, photos, videos and podcasts to promote the business’s products and services. This not only allows potential customers to review what is on offer, but it is also an effective way create a unique edge over competitors.

Small business advertising can be hard work and with the limited resources available, it is daunting having to consider how to put finances to best use. However, with the right approach and a little research into websites and directories that offer free promotional tools, it is possible to create a big impact on a small budget.

Bian Salins is the Managing Editor of BT Tradespace — an online community where businesses can advertise and sell products & services and everyone has the opportunity to shop, chat and share their opinion.