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...
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.
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.
People buy things that solve problems in their lives. Especially in a tough economy. Look at the problems your customers complain about and see if it's possible to create a product that solves that problem.
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 mail their list and they mail yours. Test both email and snail mail.
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.
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. - 17943
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...
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.
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.
People buy things that solve problems in their lives. Especially in a tough economy. Look at the problems your customers complain about and see if it's possible to create a product that solves that problem.
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 mail their list and they mail yours. Test both email and snail mail.
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.
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. - 17943
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