Outdoor signage is a cheap and easy way to advertise.
Advertising is a communication device to help draw attention to, and ultimately sell, your product or service (see Reference 3). Advertising is a crucial part of the business strategy for many companies. There are no "right" or "wrong" ways to advertise. What works for one company may not work for another, so experiment by choosing several different advertising methods and sticking with the ones that prove to be the most effective.
TV
Television ads can be quite expensive. Consider the Superbowl ads, which cost $3 million for a 30-second spot in 2011 (see Reference 4). While all television ads are not this pricey, they are generally more expensive than most major forms of advertising. However, with the increasing number of television networks and stations, businesses might find good deals for placing commercials or other forms of advertisements.
Radio
Radio ads are generally less expensive than television ads. However, you lose the visual appeal and sensory images you get with television. This means advertisers need to get their messages across using only words. However, a strong advantage is that you can target your audience better on radio by choosing a station that aligns with the demographic characteristics of your potential customers.
Leveraging print media like newspapers and magazines is another way to advertise your product or service. Magazine advertising allows you to target a select group of customers. For example, if you sell a protein supplement to young, healthy males, you can purchase ad space in a publication like "Men's Journal," "Men's Health" or "Men's Fitness." Magazine advertising can be quite costly though; not only do you have to buy ad space but you may also need to hire a graphic designer and copywriter to help develop the ad. Newspaper advertising allows you to reach a broad audience; however, the industry is in decline. According to the Newspaper Association of America, advertising expenditures in newspapers in the United States decreased 30 percent in 2008, 28 percent in 2009 and 8 percent in 2010 (see Reference 5).
Online
Online advertising is a highly targeted way to reach your key audiences. For example, you can develop ads that appear on search engine pages and choose specific key words your customers can use to find your company online. Or, you can choose specific pages to advertise on. In addition, advertising on search engines allows you to track and measure the performance of your ads.
