Advertising Advertising is essential for most businesses, especially when first opening. However, the advertising must relate to the type of business. How much exposure and advertising you need depends on how your business attracts customers. Advertising can be anything from a newspaper ad to a flyer or even a Facebook page. Just as in any other step, advertising must be well planned. It is easy to go overboard on your advertising expenditures. We suggest you read SBA or trade publications on advertising or attend a short course at a local college or university. Spend the right amount for advertising: too much is an extravagance, and too little is dangerous. Be strict with your budget and tie costs to results. To do this, track your advertising’s effectiveness. There are five basic steps in planning an advertising budget: 1. Decide what you want to sell. 2. Determine the target audience. 3. Determine why this group buys what you sell. 4. Select the best communication media to reach your target audience. 5. Complete a media plan. Assign dollar amounts to the media you have chosen.
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