The more established you are, the broader you must advertise to grow
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PostThere is a difference in how a newly established business should advertise compared to one that has been operating for a long time.
A young business typically relies heavily on social media, targeting a small audience in the beginning. As they gather data and learn more about their customers, they gradually expand their reach to attract more people.
They also post organically to create awareness around their products and services without spending money. With little or no marketing budget, creativity is essential to reach as far as possible. Early revenue is crucial, not only to validate that the product has potential but also to prove that the business can generate income.
Expanding the marketing mix
Once revenue starts flowing in, the marketing mix expands to include more channels. Most businesses begin with Facebook and Instagram, or if they are B2B, LinkedIn. The goal is to establish themselves as an expert in their field.
When the business is established
A lot of small and medium-sized businesses believe they lack the resources to expand their advertising efforts.
Instead of broadening their reach, they often try to squeeze more out of their existing audience that they have defined in social media. However, what they should do is incorporate new channels into the marketing mix.
For sustainable growth, you should have at least three channels in your marketing mix. To manage time efficiently, not all of them should require video content.
A mix of video and display ads is the most manageable approach.
To make things easier for you, at Lyll, you can simply upload an image and logo, write a short text - and voilà - you have ads in all the formats you need for online newspapers and magazines.
Nice, right? 😊
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