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Casual Articles - 5 Biggest Wastes of Marketing Money You Should Avoid as an Entrepreneur
Increase in Customer Sales = Increase in Customer ServiceOne of the most popular questions asked in online business forums or even by my customers and subscribers is this :“How the hell can I increase my sales?”or“I’ve got tons of visitors but nobody seems to be buying anything? What gives?”FISHNETS WITH HOLES? ANYONE?Getting traffic is not the be all and end all of a successful online business. It requires skills, specific online marketing strategies designed for your site and a robust customer service strategy.So what if you have thousands of visitors per day! That does’nt amount to success, unless you close at least 5 to 10% of those v o reach this niche effectively? 3. What is my message? What are my prospects' pain points? 4. What do I want the piece to look like? Most of your time and energy should be spent on building your list and crafting your message. If done correctly, direct mail can deliver targeted results but it remains a passive activity. Biggest Waste #4: Radio Advertising By now all of you can probably tell me what the disadvantages of radio are, right? - Expensive
- Is it reaching your target audience?
- Is your message/business one that is suited to radio? For example, if you are a Lean Manufacturing consultant do you really think the average list
Tips for advertising on an inexpensive budgetAdvertising is the life blood of any business, no matter how big or how small. So, the problem is how to make ones advertising dollar get the most bang for the buck. It's not enough to advertise. Your advertising must be effective. Check out the following ways to advertise for little or no cost.Having a Website - The age of the internet has expanded the possibility of owning your own business to an almost unlimited number of people. It also has expanded the advertising audience to a tremendous amount of new people, world wide, who otherwise you would never have been able to reach. Things like link exchanges and articl Have we worked together?Sure we have. You're the entrepreneur that's passionate about your business, an expert in your field but decidedly NOT a business development expert, and certainly NOT a salesperson. Right? Prior to our meeting one another some marketing "experts" told you that you don't need to "sell" anything you simply need to market your business. This sounded great to you because you're not really comfortable with the idea of selling. So, as we discussed some of the issues that were holding your business back you shared with me what so many others have also shared with me... what I have come to call: The 5 Biggest Wastes of Marketing Money Biggest Waste # 1: The Yellow Book Want to spend a lot of money on a dying medium that ensures that you are not differentiated from all of your competitors? Look no further! This medium is totally passive and relies entirely upon a prospect stumbling upon your name amongst all the other suckers who have also spent their precious cash. Chances are you've spent thousands for this priviledge and received next to nothing in return. The one positive? If the prospect happens to find you more than likely they are in need of your product or service. Biggest Waste #2: Newspaper Advertising Again, another dying medium. Funny thing though, as circulation and relevance fall, print advertising rates have remained stable or even gone up! Such a deal! Some other considerations include: - You're never sure who sees the Ad
- You're never sure if it is reaching your target audience
- Not a bad way to build brand awareness...if your a multi-billion dollar corporation
- How do you know if it's consistently reaching your target?
- How compelling is your ad? Are you giving something away?
The one positive? IF someone is looking for your product or service AND they see your ad, you might just get a call.Biggest Waste #3: Poorly Targeted Direct Mail Most people, including a lot of the self proclaimed “marketing experts” (who are really nothing more than graphic artists) approach direct mail completely wrong: Here’s how that process typically flows 1. You're desparate for sales 2. Someone sells you on the need to do direct mail 3. They tell you how they can make it look really cool 4. Message? What message? Call to action? What call to action? 5. How many names do you want to send this to? You know, it only costs a little bit more to print a few thousand more... Hello 0.05% response rate! The correct way to approach direct mail is: 1. Who is my target audience? What niche within this broader target do I want to reach? 2. Can I build/buy a list to reach this niche effectively? 3. What is my message? What are my prospects' pain points? 4. What do I want the piece to look like? Most of your time and energy should be spent on building your list and crafting your message. If done correctly, direct mail can deliver targeted results but it remains a passive activity. Biggest Waste #4: Radio Advertising By now all of you can probably tell me what the disadvantages of radio are, right? - Expensive
- Is it reaching your target audience?
- Is your message/business one that is suited to radio? For example, if you are a Lean Manufacturing consultant do you really think the average liste
Customer Service, Italian StyleNowadays, we complain nearly all of the time about how few businesses remember how to provide quality service to their customers. But a recent trip to Italy not only reminded me that the art of service is not dead, but that providing outstanding service is the key to almost any successful business. Here are a few well-worn but important principles that I was reminded of during that trip:The Customer Always Comes First: When you patronize a retail store or restaurant in Italy, it is almost always the owner of the business that takes care of you. It’s not that there aren’t other employees; other staff members are us ng>Biggest Waste # 1: The Yellow Book Want to spend a lot of money on a dying medium that ensures that you are not differentiated from all of your competitors? Look no further! This medium is totally passive and relies entirely upon a prospect stumbling upon your name amongst all the other suckers who have also spent their precious cash. Chances are you've spent thousands for this priviledge and received next to nothing in return. The one positive? If the prospect happens to find you more than likely they are in need of your product or service. Biggest Waste #2: Newspaper Advertising Again, another dying medium. Funny thing though, as circulation and relevance fall, print advertising rates have remained stable or even gone up! Such a deal! Some other considerations include: - You're never sure who sees the Ad
- You're never sure if it is reaching your target audience
- Not a bad way to build brand awareness...if your a multi-billion dollar corporation
- How do you know if it's consistently reaching your target?
- How compelling is your ad? Are you giving something away?
The one positive? IF someone is looking for your product or service AND they see your ad, you might just get a call.Biggest Waste #3: Poorly Targeted Direct Mail Most people, including a lot of the self proclaimed “marketing experts” (who are really nothing more than graphic artists) approach direct mail completely wrong: Here’s how that process typically flows 1. You're desparate for sales 2. Someone sells you on the need to do direct mail 3. They tell you how they can make it look really cool 4. Message? What message? Call to action? What call to action? 5. How many names do you want to send this to? You know, it only costs a little bit more to print a few thousand more... Hello 0.05% response rate! The correct way to approach direct mail is: 1. Who is my target audience? What niche within this broader target do I want to reach? 2. Can I build/buy a list to reach this niche effectively? 3. What is my message? What are my prospects' pain points? 4. What do I want the piece to look like? Most of your time and energy should be spent on building your list and crafting your message. If done correctly, direct mail can deliver targeted results but it remains a passive activity. Biggest Waste #4: Radio Advertising By now all of you can probably tell me what the disadvantages of radio are, right? - Expensive
- Is it reaching your target audience?
- Is your message/business one that is suited to radio? For example, if you are a Lean Manufacturing consultant do you really think the average list
Online Job Sites - How to Find the Best OnesThere are over 45,000 online job search sites. The sheer scope of coverage is overwhelming, from the local jobs level to the regional jobs level, all the way to the USA jobs level, you can work full time for months and not search them all.The secret to a good online job search is to narrow the selection down to the best ones, particularly for non-executive positions. As a hiring manager, this is the order in which I'll post jobs online - it's therefore the order in which you should spend your online job search time:
The Company Web Site
Newspaper Online Help Wanted Ads
Online Job Posting Sites
< ance fall, print advertising rates have remained stable or even gone up! Such a deal! Some other considerations include:- You're never sure who sees the Ad
- You're never sure if it is reaching your target audience
- Not a bad way to build brand awareness...if your a multi-billion dollar corporation
- How do you know if it's consistently reaching your target?
- How compelling is your ad? Are you giving something away?
The one positive? IF someone is looking for your product or service AND they see your ad, you might just get a call.Biggest Waste #3: Poorly Targeted Direct Mail Most people, including a lot of the self proclaimed “marketing experts” (who are really nothing more than graphic artists) approach direct mail completely wrong: Here’s how that process typically flows 1. You're desparate for sales 2. Someone sells you on the need to do direct mail 3. They tell you how they can make it look really cool 4. Message? What message? Call to action? What call to action? 5. How many names do you want to send this to? You know, it only costs a little bit more to print a few thousand more... Hello 0.05% response rate! The correct way to approach direct mail is: 1. Who is my target audience? What niche within this broader target do I want to reach? 2. Can I build/buy a list to reach this niche effectively? 3. What is my message? What are my prospects' pain points? 4. What do I want the piece to look like? Most of your time and energy should be spent on building your list and crafting your message. If done correctly, direct mail can deliver targeted results but it remains a passive activity. Biggest Waste #4: Radio Advertising By now all of you can probably tell me what the disadvantages of radio are, right? - Expensive
- Is it reaching your target audience?
- Is your message/business one that is suited to radio? For example, if you are a Lean Manufacturing consultant do you really think the average list
For New Managers - Conventional Management Training Doesn't FitConventional management training typically consists of single, time-limited workshops or seminars. The length of the event varies by position level, function or business discipline, and size and structure of the employer organization.For new managers, this model has inherent shortcomings:• The large amounts of new information that must be crammed into a short time is overwhelming and often leads to feelings of panic.• Participants can't put the new learning into practice until the course is over, leaving no opportunity to ask questions of instructors or colleagues after they try the techniques in the cou d “marketing experts” (who are really nothing more than graphic artists) approach direct mail completely wrong:Here’s how that process typically flows 1. You're desparate for sales 2. Someone sells you on the need to do direct mail 3. They tell you how they can make it look really cool 4. Message? What message? Call to action? What call to action? 5. How many names do you want to send this to? You know, it only costs a little bit more to print a few thousand more... Hello 0.05% response rate! The correct way to approach direct mail is: 1. Who is my target audience? What niche within this broader target do I want to reach? 2. Can I build/buy a list to reach this niche effectively? 3. What is my message? What are my prospects' pain points? 4. What do I want the piece to look like? Most of your time and energy should be spent on building your list and crafting your message. If done correctly, direct mail can deliver targeted results but it remains a passive activity. Biggest Waste #4: Radio Advertising By now all of you can probably tell me what the disadvantages of radio are, right? - Expensive
- Is it reaching your target audience?
- Is your message/business one that is suited to radio? For example, if you are a Lean Manufacturing consultant do you really think the average list
Low Cost High Risk Merchant AccountsThe need to save money is becoming more imperative these days. Prices of certain commodities have gone so high that even those who have money are complaining. Because of this, many people are finding ways to establish an online business that can give them more profit but with using only a small amount of capital.If you want to establish an online business, you have to give your customers a list of payment methods to choose from. The most convenient way for your customers to pay for your merchandise is through the use of credit cards. To have this kind of payment method on your website, you have to apply for a merchant o reach this niche effectively?3. What is my message? What are my prospects' pain points? 4. What do I want the piece to look like? Most of your time and energy should be spent on building your list and crafting your message. If done correctly, direct mail can deliver targeted results but it remains a passive activity. Biggest Waste #4: Radio Advertising By now all of you can probably tell me what the disadvantages of radio are, right? - Expensive
- Is it reaching your target audience?
- Is your message/business one that is suited to radio? For example, if you are a Lean Manufacturing consultant do you really think the average listener to the radio is going to be compelled to pick up the phone and call you?
- Totally passive
One Positive: Radio can provide some mindshare and brand awareness, but is this what you want to spend your precious money on?5th biggest waste: Complicated, beautiful brochures Here's a wake-up call for you ...brochures don’t sell business!! Exception: if you are a restaurant, oil change shop or some other B to C business that is offering coupons as part of your brouchure in order to get people to take action. Before you waste your money on a brochure: - Think, How am I going to use this brochure?
- Mail it to prospects? We’ve already talked about the deficiencies of direct mail? Do you want to throw good money after bad?
- As a leave behind? Why not save the money and create a decent website for a few hundred dollars or a good website for a couple of thousand dollars?
- Your expensive brochure will be likely be innaccurate, forgotten in a file drawer or buried in landfill while your website is working for you 24X7.
- Understand that these days people go to the internet to gather information about your business your credibility, experience, professionalism etc.
Take Away: If you feel you must have a brochure, keep it simple and inexpensive and use it to drive prospects to your website.
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