With advances in technology redefining the advertising market, small and medium-size businesses are benefiting from new opportunities to reach consumers--from reduced costs in traditional media to online, mobile, and social networking opportunities.

In the case of a commercial for a local diner, Eat at Joe's, a small agency shot high-definition video with a digital camera, edited the material at home, and charged the restaurant owner a mere $5,000.

The producer estimated that production costs on the 30-second spot with 40 actors would have run around $200,000 several years ago.

But, the scope of new advertising possibilities for small businesses is hardly limited to traditional media.

As businesses of all sizes can collect more information online about users' demographics, habits, and interests, they can reach targeted audiences with customized ads.

A Facebook campaign targets users based on nine filters--such as age, location, and keywords--for a minimum budget of $1.00 a day.

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