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Everyone is taking note of the economy and right now it has everyone on their heels playing defense, especially the small business owners. A lot of business owners and corporations as well have stopped their marketing and advertising efforts altogether. If this is your strategy then it sounds like you are tossing in the towel and in essence you are giving up the fight.
Instead of remaining content waiting to see what will happen with the economy one should look at the most cost effective forms of marketing and advertising for your business. You should always want to keep your strategic costs in place because these are the costs which contribute directly to your bottom line. And at the very least you don’t want to eliminate them completely. At the same time you want to look at ways to eradicate your nonstrategic costs which are costs that help to run the business but they do not contribute to the bottom line.
There are different channels or avenues that you can pursue when it comes to advertising, one of which is internet radio advertising. Internet Radio Advertising creates very low cost methods that enable you to reach a niche or a strategically targeted demographic sector.
If you think about traditional radio advertising it’s extremely expensive because it has very large market coverage or a very large audience. Unfortunately a lot of people are going to hear this advertisement and they have no interest whatsoever in purchasing your product, and for the most part it’s a blanket coverage type of advertising. You are throwing stuff on the wall to see what sticks. The small business owner does not have the luxury to commit funding towards this type of venture.
The most cost effective avenue to explore is internet radio advertising. With this form of advertising the message is sent by way of the internet instead of by radio. So if you are hearing an internet radio advertisement then you are right there on your computer and only a couple of clicks away from that advertiser’s website. These advertisements can also be heard by using streaming audio, or they can be read as banner ads.
The most efficient and effective way to run your business is to make sure your advertising and marketing is in line with your business structure and size. There can be nothing worse than putting together an advertising or marketing program that is completely out of touch with the goals and objectives of your organization.
Everyday more and more people are tuning in to internet radio therefore the audience is growing at a tremendous rate, year after year. It’s the volume of listeners that determine the rate you will pay with traditional radio advertisement whereas cost per thousand is the determining factor with internet radio advertising. The price can range anywhere from $5 to $20 cost per thousand with the majority of internet radio shows. Internet radio also has a higher caliper or better quality of customer.
The conversion rate is definitely going to be higher with internet radio advertising since you are targeting a specific niche market or those who have some interest in your products or services.
Mel Richardson, Author - Internet Marketer