Low Cost Promotion
Tough economic times are forcing people to keep their money in their wallets.
Which means business owners will have a harder time attracting new customers cost-effectively. As consumers spend less the cost of acquiring a customer will increase. Therefore, you need to start using some simple low cost promotions strategies right away.
Here are three of those strategies
Advertise in the most responsive media. Does direct mail, Google Adwords or billboards bring in lots of traffic to your store or website at the lowest cost? And do those people convert into customers? If so, focus more of your effort on that specific medium.
The short and sweet of it is this: Don't waste money on advertising channels that don't return the most for the dollars you spend. It's that simple.
Pinpoint the products and services customers want to purchase. Place a greater emphasis on what the customer is willing to buy. Don't assume you know. Look at actual records of what you sell and let the numbers tell you what is selling. You might be surprised.
In addition to selling what the customer wants, do a little probing to discover some of the problems they are wrestling with. Perhaps, if it makes sense, you can position one of your products as the solution.
Think outside the box. I'm sure you've heard that before. But hardly anyone in business does it. Consider other ways to get your advertising in the hands of potential customers. For instance, maybe you can include your post card as an insert in another company's fulfillment package.
You may discover an entirely new way to advertise that is both cheaper and more effective.
Cutting back on advertising and marketing when things are slow is not smart. Business owners who pull back the reigns lose momentum. Money spent on advertising and marketing is money well spent. Because that money is out there working for you.
Finally, if you have an online presence and you collect emails beef up your email marketing system.
This is a must. No question about it.
Now's the time to dig in.
The last thing that will help increase profits from all your advertising is the ad copy. The better the ad copy is the more money your ads will make. That's a fact you can bank on.
Which means business owners will have a harder time attracting new customers cost-effectively. As consumers spend less the cost of acquiring a customer will increase. Therefore, you need to start using some simple low cost promotions strategies right away.
Here are three of those strategies
Advertise in the most responsive media. Does direct mail, Google Adwords or billboards bring in lots of traffic to your store or website at the lowest cost? And do those people convert into customers? If so, focus more of your effort on that specific medium.
The short and sweet of it is this: Don't waste money on advertising channels that don't return the most for the dollars you spend. It's that simple.
Pinpoint the products and services customers want to purchase. Place a greater emphasis on what the customer is willing to buy. Don't assume you know. Look at actual records of what you sell and let the numbers tell you what is selling. You might be surprised.
In addition to selling what the customer wants, do a little probing to discover some of the problems they are wrestling with. Perhaps, if it makes sense, you can position one of your products as the solution.
Think outside the box. I'm sure you've heard that before. But hardly anyone in business does it. Consider other ways to get your advertising in the hands of potential customers. For instance, maybe you can include your post card as an insert in another company's fulfillment package.
You may discover an entirely new way to advertise that is both cheaper and more effective.
Cutting back on advertising and marketing when things are slow is not smart. Business owners who pull back the reigns lose momentum. Money spent on advertising and marketing is money well spent. Because that money is out there working for you.
Finally, if you have an online presence and you collect emails beef up your email marketing system.
This is a must. No question about it.
Now's the time to dig in.
The last thing that will help increase profits from all your advertising is the ad copy. The better the ad copy is the more money your ads will make. That's a fact you can bank on.
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