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.
Let me share a few of those methods with you...
Do you know which promotion outlet works best? If not you should find out immediately. You'll discover that among the many different media one or two will outpull the others. Both in terms of response and return on investment. Which are the two things that count the most in effective advertising.
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.
How else can you promote your products and business other than through regular media? Maybe you can do a joint venture with a company that does not compete with you. Maybe you can place banner ads on websites that get plenty of traffic. Think about other options than the obvious.
You may discover an entirely new way to advertise that is both cheaper and more effective.
Do not, under any circumstances, stop doing what is already working. That is business suicide. Rather than cutting back this is the time to pour more resources into media that is already productive for you. Even if you break even that's okay. You will recoup the cost of new customer acquisition. But you have to get the customer first.
Finally, if you have an online presence and you collect emails beef up your email marketing system.
Email is fast, cheap and effective.
This is the time to go for it.
Another thing to keep in mind is that good ad copy goes a long way. In fact, nothing happens until the sales message is written. So put more effort into creating better ad copy. - 21151
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.
Let me share a few of those methods with you...
Do you know which promotion outlet works best? If not you should find out immediately. You'll discover that among the many different media one or two will outpull the others. Both in terms of response and return on investment. Which are the two things that count the most in effective advertising.
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.
How else can you promote your products and business other than through regular media? Maybe you can do a joint venture with a company that does not compete with you. Maybe you can place banner ads on websites that get plenty of traffic. Think about other options than the obvious.
You may discover an entirely new way to advertise that is both cheaper and more effective.
Do not, under any circumstances, stop doing what is already working. That is business suicide. Rather than cutting back this is the time to pour more resources into media that is already productive for you. Even if you break even that's okay. You will recoup the cost of new customer acquisition. But you have to get the customer first.
Finally, if you have an online presence and you collect emails beef up your email marketing system.
Email is fast, cheap and effective.
This is the time to go for it.
Another thing to keep in mind is that good ad copy goes a long way. In fact, nothing happens until the sales message is written. So put more effort into creating better ad copy. - 21151
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