Entrepreneurs, Advertising – You Need It More Than Ever Now
Gather together the details of all your existing or planned advertising and check that it answers the following questions:
1. Who am I trying to sell the product to and am I advertising in the right places to meet these people?
2. Have I identified that they really need or want the product and that your adverts tell people why they why?
3. Is it within their price range?
4. Is this market large enough for me to sell enough products to make a profit and are enough of this market responding to my ads?
5. Are there other companies selling similar products and if so – have I made my different enough from them so that they stand out?
6. Are my adverts easily understood and memorable to the people I am selling to? We have all seen the ads we remember but can’t remember the product!
7. Do my adverts describe my products effectively and legally and most important to they stand out from my competitors?
8. Have I placed my adverts in the most cost effective place and for the right amount of time so that they will noticed and remembered?
9. Can I afford to keep the adverts going for the required amount of time?
10. Can I make small changes to the advert that will save me money without losing it’s effectiveness? Look at such things as using less colours or smaller sizes, different pages, etc.
You should also look at your internal company processes for such things as:
1. Can you make the handling of sales enquiries quicker and cheaper to manage?
2. Can you make fulfilment quicker, more efficient and cheaper?
Lastly you need to look at your own product range. Can you bring out a change to your product range that will make it more efficient or attractive to customers? Look at expanding or shrinking your product range, combining some of them into a “special” or changing some of them in response to customer feedback. Good Luck!