Advertising doesn't have to wipe out your bank account to be effective. When you learn to negotiate, know when smaller ads are as effective as large ads, ask for discounts, and create an irresistible offer, you're on your way to skyrocketing profit margins!
1. Negotiate
Have you noticed that some people seem to always get the best deals? Yeah, you pay full price and think you did OK until they show up with the same thing, only they paid several hundred dollars less. It really get your goat! How do they do it? They're not afraid to ask for an extra discount.
Yep, don't sell yourself short because you didn't ASK the next time your advertising rep makes an appearance! Even if you're already getting a discount, ask for a bigger one. You have not...because you ask not.
2. Trim
Bigger is always better...or is it? When it comes to advertising, don't be surprised if some of your short ads meet with more success than larger more expensive ads. Trimming down on the size and cost of advertising doesn't mean you'll be trimming the results!
3. Exploit the Freebies
What's the difference between advertising and publicity? ...who's doing the talking. Yeah, when you sell yourself, it's advertising. When someone else is selling you, it's publicity...and it generates credibility and interest that you don't want to miss out on.
Think about the different ways you can get your business in the spotlight. Do you have some news… write a press release? Write some “how to” articles with a short byline at the end and release them to ezines, magazines, newspapers, and other publishers. Why not promote the product of a non-competitor in return for them promoting yours...think of the totally different market they affect!
Yep, there are a lot of ways out there to get free advertisement that will benefit your business. Of course you won't be able to rely solely on the freebies, but hey, you can get a little extra for nothing!
4. Improve Your Offer
Is your deal too good to pass up? If not, you need to improve it. Hey, I'm not talking about cutting prices even more...you've still got to make a profit. You can make the deal sweeter just by increasing the readers knowledge of the value of the product, or adding bonuses that are perceived as valuable, but cost you little.
Motivate buyers with expirations. Yeah, an open ended offer encourages procrastination...which leads ...yep, nowhere. When the customer knows he has until Saturday to purchase an item he'll pay more for on Sunday, he'll make it a priority to head for your shop.
Advertising doesn't have to wipe out your bank account to be effective. When you learn to negotiate, know when smaller ads are as effective as large ads, ask for discounts, and create an irresistible offer, you're on your way to skyrocketing profit margins!
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