February 9, 2009
Promoting My Home Based Business
Have you seen how many business opportunities offer a no selling, no investment, no endless hours of work, no work? Every time I investigate one of these exciting once in a life time get rich quick schemes, I end up disappointed, discouraged, and financially closer to being destitute.
Real businesses succeed or fail by doing or not doing four key things: Ability to Meet Customer Needs; Finding Customers; Meeting Customer Needs; Retaining Customers.
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Think about the challenge of Attracting new customers for your sewing machine repair service.
Nobody enjoys twisting someones arm to make a sale. Most of us dread the very thought of selling or prospecting or finding new customers. Yet, this is the foundation of every business. Without customers, there can be no business. Without sales, there is no business. In many ways, getting customers is number one priority of your business.
So, how do you get customers? You can advertise your business, or you can get others to advertise your business. First, we will consider effective ways to attract customers by advertising your business.
What marketing choices do you have? Think about it. Where have you seen promotional items? You may come up with your own list of dozens, maybe even a hundred different choices.
How swiftly do you want to get your business up and running? If you want customers as soon as possible, advertising is your solution. It is fast and easy.
Unfortunately, marketing does not always work, but it is always expensive. In my Sew And Quilt Stores, we spend approximately $55 for each new customer we attract. That is after being in business for sixteen years. Great care must be taken to control advertising expenses and insure its effectiveness.
Different marketing mediums work better for different businesses. Your goal is to find out what works for you and your business. To identify your best producing advertising vehicles, use some common sense and test before risking large amounts of money.
Decisions, decisions, decisions. Business is all about making decisions. The choices you make with regard to your promotion will have a big impact on your bottom line. What are the best advertising for your business?
If your customers are going to bring their sewing machine to your home, how will you find them there?
Are space ads in the newspaper a good choice? Examine the cost, size of the ad, number of competing ads, size of the paper, distribution, and expected exposure of people to your ad. How many people will actually notice your ad? How many customers will your ad produce? What is your return on investment or sales per ad dollar? If you have loads of money, or some specialty situation, a space ad in the newspaper can be productive.
When people pick up the newspaper, what do they do? Read the headlines, look at the pictures, read an occasional story, and of course check out the classifieds. It is here that you can often get your best bang for the buck. Your ad is strategically placed in the category appropriate to your service. When people see it, they know you want their business.
Have you considered direct mail, direct distribution, or batched advertising? Going directly to people is very powerful. Mailing an attractive postcard can cost as little as seventy five cents per address. Remember to consider costs for mailing list, piece production, and postage. Some organizations distribute fliers, door hangers, etc. for local businesses. These too can be very cost effective when properly managed. Sending out your ad with several others in a package like ValPak, can also work.
The cost of TV and radio make these less attractive. Remember your goal is to Attract New Customers as fast as possible and at the least possible cost.
Find new customers by strategically advertising. Be ready to spend a little to make a little. Just make sure every marketing dollar produces real results: new customers, sales, and profit.
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