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Getting More Bang for your Marketing Buck
Written by: Bella LaneArticle Overview: Small and start-up businesses don’t usually have the resources for a huge advertising campaign, chances are you don’t have an extensive cash allocation earmarked for promotion, or you’ve tried many different advertising approaches but still haven’t hit on a really successful campaign yet. You aren’t alone! Advertising is extremely expensive and even with adequate funding, it is difficult to develop successful advertising campaigns. And, with an increasing number of companies advertising through every imaginable communication avenue, it is becoming increasingly hard to attract the attention of consumers.
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Getting More Bang for your Marketing Buck
However, there are non-advertising approaches to promotion. They generally require less money to implement and are often more effective. The only catch is that they require time and creativity to develop.
Coupons
You don’t have to distribute coupons in print advertising or in big direct mail campaigns. You can hand them out on the street corner, at trade shows, or just about anyplace else. You can send a few to your best customers, or you can include “next purchase” coupons in customer orders.
Coupons can be “quick and dirty” to design and print because their selling point is price, not image. To assure your chances of getting an additional sale or establishing an ongoing relationship with your customers, make your coupon offer exceedingly generous.
If you have a website, you can add a "sign-up for coupons" to capture email addresses and send your coupon to via email.
Contests
People love contests. They even love to see other people win! Just witness the phenomenal success of game shows on television. If you choose to develop a promotional contest, in-fuse it with fun, make it silly, and don’t forget to really talk it up. If your contest is wacky and crazy enough, you should be able to get good media coverage—and remember, this is essentially free advertising!
Gifts
People love to receive something for free, even if they have to pay a premium price for a more expensive item to get the freebie. While this technique has been used most successfully in the beauty and cosmetics industry, it can be used in almost any business endeavor. It isn’t unheard of to see deals such as a free computer desktop with the purchase of a higher-priced notebook computer or, even a free subcompact car with the purchase of a full-price luxury sedan!
Frequent buyers
Frequent-buyer programs can be very powerful tools for building loyal customers for both retail and service businesses. The more common approach is to give customers a card that is marked after each purchase and results in a free or reduced-price product or service offering after a specified number of regular-priced purchases. For example, ten haircuts may net one free haircut. Another approach is to give regular customers a discount on purchases upon presentation of their “Frequent Buyer” discount card.
Exclusive offerings
Offering exclusive purchases or previews of new merchandise to existing customers is a great way to inspire a feeling of excitement and loyalty. To enhance participation, you may wish to offer a discount. If the exclusive offering is in itself extremely attractive, the discount can be small.
Events
Hosting a special event in your business establishment, such as a celebrity appearance or a charity fundraiser, is a terrific way to introduce people to your business or maintain contact with existing customers. It also will create an aura of excitement and goodwill. You may even obtain media coverage!
Cross-promotions
You don’t have to be a movie producer or own an international fast-food chain to cross-promote your product with another business. You might consider offering free tickets to the local theater with each purchase of a particular item or price level. Another great business-to-business cross-promotion might be to offer free tickets to a ball game to any business willing to invest fifteen minutes of time just to listen to your sales pitch.
Trades
Ever notice the ads for car washes on taxi roofs? Car washes don’t pay cash for these advertisements! They get the exposure in exchange for cleaning the taxis periodically. If you are absolutely sold on developing an advertising campaign, remember that smaller media outfits will sometimes accept products in lieu of payment.
Giveaways
You’re probably wondering how you can make money if you give away product! Well, it’s a lot easier and less expensive than advertising. In fact, giveaways have their place in just about any type of business.
Selling business-to-business, you can generate goodwill with the people you choose—your best customers or a select roster of potential customers occasionally giving them a small gift when you call on them. The giveaway should not be so expensive that a feeling of bribery is conveyed, but nice enough that it doesn’t end up trashed the minute you leave.
For consumer service businesses, you may want to offer your product for free trial periods, or offer free estimates if you are in a service-oriented business.
Retail businesses may hand out balloons or other novelty items to build traffic or retain customer interest.
* Source Streetwise Small Business Start-Up
Article Tags: Coupons, direct mail campaigns, Getting More Bang for your Marketing Buck, nonadvertising, Selling businesstobusiness
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About the Author: Bella Lane RSS for Bella's articles - Visit Bella's website Since 2003, Bella Lane Designs, Inc. (BLD) has been helping companies build the visual tools essential for growth. We specialize in creating marketing material that promote awareness, logos that express unique identities, and websites that motivate visitors to act. We’ve developed a special approach to our work that combines design expertise with a solid understanding of our clients’ objectives. Member of the DeKalb Chamber of Commerce since 2004, we are proud to be a part of the Success of DeKalb County and have sponsored or partnered with other organizations in many local events. BLD currently sits on the DCC Marketing Task Force Committee and was recently featured in Black Enterprise Magazine, February 2009 - 100 Most Powerful Executives. Click here to visit Bella's website Creating an Effective Landing Page Best iPhone apps More Customized Content WHAT IS ADVERTISING Getting More Bang for your Marketing Buck End of Year Website Check |
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