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From each of these two budgets, we must now deduct our $36,000 rent. This leaves us with a correctly calculated ad budget that ranges from $56,300 on the low side to a maximum of $74,760 on the high side. Most advertising salespeople will tell you that 5 to 7 percent of gross sales is the correct amount to budget for advertising, but don't you believe it. To make the conversion from margin to markup, simply divide gross profits by cost. Most business owners know their margin by heart, but never their markup.
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Yet, the brand was consistently advertised. When people have more money to spend, your business will have a higher, better mind share than the folks who chose not to advertise. Why not go into that phase the leader, or the biggest gainer. So, when your competition rolls back their ad spending, pump yours up. Still a little unsure? Then set up a dollar cost averaging system for marketing.
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The truth is, if you
have a business that sells products or services you need to advertise all the time,
not just when you have excess inventory or sales are down. If you're going
to go through all the trouble and expense
of putting together an ad campaign, make sure the message cuts through the
clutter in a clever, creative way because that is what branding (getting people to
remember your business) is all about. Time and time
again I'll hear or see a campaign where it's obvious the media buy was well
executed but the message is muddled or confusing or worse, boring. So how do you make advertising work? Remember that establishing a budget,
determining who your target customers are, careful planning, consistency, and a
clever message will put you on the road to success. Last but certainly not least is the importance of the message itself.
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When you first start out on your business venture, money is usually tight but you still need to advertise. Hand them out outside of targeted buildings such as
stores, unemployment office, restaurants, etc. If they hand it back, smile
and accept it back. Parades and other public events are great places to hand
out flyers. Post your flyers on Public Bulletin Boards found in grocery
stores, community centers, banks, post offices, laundromats,
etc.
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HOW TO ADVERTISE
FREE ONLINE by sending a blank email to bizboom@freeautobot. If folks were laughing then because of the tiny
advertisements, you can be sure that they are no longer
laughing today. Ask anybody who has been in business for a long enough and they
will tell you how newspaper advertisements have for decades
helped to build countless small businesses. Newspapers tend to have very high circulations and that's how
small businesses would manage to get such a good response
from those tiny advertisements placed. It usually takes a while for the articles posted and the viral
effect (that good articles enjoy of being reposted over and over
again) to take effect and give you a good regular response similar
to good offline newspaper advertisements.
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In conclusion this is a partial list of what you can do to market, promote and advertise your business for little to no cost to you. Tell everyone you know what you are doing ask them to tell others as well. Call friends and family, ask them what they are doing while your tell them what you are doing. If you are why not join forces, joint ventures are hot online whose say you can't get them rolling offline as well.
Inserting one of your cards is a great way to circulate your information.
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Don't let anyone tell you NOT to advertise in the
paper. Get the salesperson to guarantee
you separation.
Your ad can be placed side-by-side with your
competition. There
are less than 1000 daily papers left in the US.
Smaller communities must rely on weeklies or
papers from another area with a local section.
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It implies that after you've spent the money to advertise your discounted (and minimally profitable) price, that the customer has no reason to ever come back to do business with you again. It gives you a distorted view of reality. Bad information is
worse than none at all. You will frequently make the wrong decisions. Ask new customers where they heard about you.
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Radio talk shows are one of the best free ways to advertise you'll ever get. Remember, this is going to be a lot like sales. You need to talk to a lot of producers to get a few bookings. Not everyone is going to jump at what you are offering. Make sure you speak in a good voice, so the producers think you'll sound good on the show.
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But what if you're not a retailer or you don't have a sale to advertise. Give your readers a reason to do something. The way you do this is by using connecting words at the beginning of paragraphs. This could be the offer of something free such as a booklet or brochure, a free demonstration, a free sample, etc. But don't forget that you have to give your reader a reason to take that action.
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If you're going to advertise, you need to be smart about it -- or you can quickly find yourself with a blown budget and not much to show for it. Is advertising right for your business? Try this exercise and see. Creativity Exercise -- Advertising and your business. What's your biggest marketing challenge right now? Write it down. As the old saying goes, if it ain't broke, don't fix it.
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Finally, there's nothing in the world that beats the low cost and tremendous exposure you get when you advertise a free offer. Simply run an ad offering a free report of interest to most people - a simple one-page report with a tag-line inviting the readers to send money for more information, with a full page advertisement for your book or other product on the backside. Ask for a self-addressed stamped envelope, and depending on the appeal of your report and the circulation of the publication in which your ad appears, you could easily be inundated with responses. The trick here, of course, is to convert all of these responses, or a large percentage of them, into sales. This is done via the tag-line, which issues an invitation to the reader to send for more information, and the full page ad on the back of the report, and the other offers you include with the complete package you send back to them.
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When you share your contacts, you simply broaden your network and others will be more likely to introduce their own contacts to you. But referrals are few and far between if you simply wait around for them. We all love to get referrals, because they often bring business - or at least interested prospects - with little, if any, effort from us. Clients will usually be glad to hear from you, especially if you're using e-mail to send information that is valuable to them, such as announcements of special events, discount offers, helpful newsletters, or articles that interest them. If your business is local, attend networking events in your community, many of which are cheap or even fr*e.
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The exchange
takes only seconds, no one does any more work and
the cost to the advertiser is zero. Don't try humor - it ain't funny
Remember the main reason to advertise, WIIFM,
What's In It for Me, that's what they want to
know.
Instead, ask them to create several that will
rotate on the air. Don't buy anything longer than 30 seconds
Some station price 60s double what they charge
for 30 seconds, other plus up the 30 rate by 20 or
25 percent.
Heck, if you can say the entire Lord's Prayer in
20 seconds, you can sure sell your benefits in 30.
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So if you own a company and you're looking to advertise, consider the refrigerator magnet. A friend, family member, or delivery person could see it, and inquire about the site. If you sent a magnet to an existing customer, it'd wind up on his or her fridge. In addition, magnets will adhere to most automobiles. You can carry them around with you, and put them on cars, for focused advertising.
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