The financial situation is causing consumers to spend much less than usual.
As consumers spend less businesses will end up selling less as a result. The costs of bringing people to your place of business will also go up. For these reasons, it's a smart idea to rely on effective low cost marketing that is measurable.
Perhaps these ideas will help your business...
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.
In other words, find out which form of advertising brings back the highest return on investment and put more of your dollars into that kind of advertising.
Focus on selling exactly what your customers want to buy. Start finding out what your market absolutely positively wants and has to have. Focus your efforts on selling ONLY those things. Because what consumers are cutting back on is spending money on things they don't deem necessary. The "staples" will keep selling.
And while you're at it, find out what problems your market is agonizing over and figure out how to solve the ones you can. Mark my words, right now the businesses that will make it will be providing... solutions to problems!
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.
In addition, consider your email marketing strategy. It's a low cost way to drive in sales.
The more you email the better in most cases.
Decide now to make things work and they will.
There's one more thing you should consider doing: Strengthen your ad copy in all of your online and offline promotions. Better copy always results in higher profits. - 15634
As consumers spend less businesses will end up selling less as a result. The costs of bringing people to your place of business will also go up. For these reasons, it's a smart idea to rely on effective low cost marketing that is measurable.
Perhaps these ideas will help your business...
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.
In other words, find out which form of advertising brings back the highest return on investment and put more of your dollars into that kind of advertising.
Focus on selling exactly what your customers want to buy. Start finding out what your market absolutely positively wants and has to have. Focus your efforts on selling ONLY those things. Because what consumers are cutting back on is spending money on things they don't deem necessary. The "staples" will keep selling.
And while you're at it, find out what problems your market is agonizing over and figure out how to solve the ones you can. Mark my words, right now the businesses that will make it will be providing... solutions to problems!
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.
In addition, consider your email marketing strategy. It's a low cost way to drive in sales.
The more you email the better in most cases.
Decide now to make things work and they will.
There's one more thing you should consider doing: Strengthen your ad copy in all of your online and offline promotions. Better copy always results in higher profits. - 15634
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