How Can I Get the Most Out of My Limited Advertising Budget?

Making every advertising dollar count takes some planning. Each ad must contain the right message, be targeted to the right customer, and be placed in the right vehicle at the time the customer is ready to buy.

The Right Message

Delivering the right message increases the chances your potential customer will make the purchase of your product/service. Issues to consider in crafting the right message include the benefit your product/service provides the customer and the advantages over the competition. Make it easy for the potential customer to say Yes! What is it that makes your product/service special? Once you have identified the benefit, be sure to develop the message in the most appealing way.

If the benefit of using your service is saving money, for example, the message might be “Reduce your automobile insurance by up to 50%”! This is a very different message than “Save money on your automobile insurance”. You’ve added a comparison that gets attention. Providing measurable results within a given time frame lends a sense of urgency. “Lose 20 lbs. in 30 days” is much more powerful than “guaranteed to help you lose weight.

Consider the benefits of your product/service, the advantage(s) over the competition, and provide a sense of urgency for the most effective response to your advertising.

The Right Customer

Targeting the right customer greatly increases the results of your advertising efforts. If your perfect customer is a homeowner, it makes little sense to include renters in your targeted audience. Identifying your perfect customer requires a little research. Most businesses operate under the 80—20 customer rule, meaning 80% of revenues are generated by 20% of their customers. Do you know who your perfect customers are? A review of your sales records will be instructive.

Many beauty salons, for example, perceive their perfect customers are the women who stop in 3 or 4 times a year for color and other expensive treatments. A look at the records may indicate that the customer spending more dollars annually is the woman who comes in for a shampoo and set every week. She spends less money each visit, but the volume adds up over the course of the year. Know who your perfect customers are and allot 75-80% of your advertising budget to attracting more of them.

The Right Vehicle

Advertising rates are based on the number of readers or viewers they reach, no matter the profile of those readers or viewers. Choose advertising vehicles that not only fit within your budget parameters, but are targeted specifically to your perfect customers.

• Print Advertising

Large metropolitan newspapers have huge readership, but may not be targeted to your perfect customers. You pay to reach thousands, or perhaps millions, of individuals who are not all good prospects for your product/service. Community newspapers with limited geographic reach, specialty publications with targeted readership, and special interest magazines are generally better buys. Many national magazines have regional advertising opportunities that are more cost effective and reach a more targeted geographic area.

Direct mail campaigns can be very cost effective, sent to the right list of potential perfect customers. Your own database of existing customers is a good start, and lists are available for purchase, as well.

• Broadcast Advertising

Radio advertising can be cost effective for annual or semi-annual promotions or during certain seasons. In some areas, local and regional television ads are available on network stations. Cable television ads are affordable in most areas, and many stations will assist in the production of your ads.

• The Right Timing

The final factor to consider for your advertising plan is not only when, but how many times does it take to make the sale? Obviously, if you’re selling seasonal products or services, your ads need to be placed accordingly. But whether your product/service is seasonal or something to be purchased any time during the year, consistency is key. Placing one ad in one publication or sending out one direct mail piece and expecting to generate sales is foolhardy.

Even the right message to the right customers in the right vehicle needs to hit your customer when he/she is ready and able to make the purchase. A series of ads or postcards with a consistent message is necessary to generate results from your advertising.

SOURCE -http://www.lupra.com/

Strategic Planning

Too many people think strategic planning is something meant only for big businesses, but it is equally applicable to small businesses. Strategic planning is matching the strengths of your business to available opportunities. To do this effectively, you need to collect, screen, and analyze information about the business environment. You also need to have a clear understanding of your business - its strengths and weaknesses - and develop a clear mission, goals, and objectives. Acquiring this understanding often involves more work than expected. You must realistically assess the business you are convinced you know well.

In addition, strategic planning has become more important to business managers because technology and competition have made the business environment less stable and less predictable. If you are to survive and prosper, you should take the time to identify the niches in which you are most likely to succeed, and to identify the resource demands that must be met.

Source -http://www.sba.gov/smallbusinessplanner/plan/writeabusinessplan/SERV_STRATPLAN.html

Learn more about this topic @ http://app1.sba.gov/training/sbabp/index.htm

Tip 7: Use the Law of Attraction to attract your ideal clients

The best way for your business to grow and your income to triple is to be attracting your ideal clients. Your ideal clients will be pleasurable to work with, they will appreciate your skills and service and they will refer people to you.

The Law of Attraction would say: visualize clients you want to work with, see yourself working with them now, and feel what it feels like to have an abundance of ideal clients. If it gives you joy to serve them, then radiate that joy and watch how it magnetizes those ideal clients to you. This is the difference between having work you tolerate and work that you love.

Follow these tips, and you’ll be thriving in any economy.

Author - Dr. Maya Bailey, author of, Law of Attraction for Success Minded Professionals, integrates 20 years of experience as a psychologist and12 years as a business coach with her expertise in the Law ofAttraction. Her powerful work creates a success formula for success minded professionals ready to double and triple their incomes. Get Dr.Maya’s free report, 7 Simple Strategies For More Clients in 90 Days, by visiting www.90DaystoMoreClients.com .

Read more: http://www.realtown.com/

Tip 6: Be clear on what makes you unique

As you begin to market yourself to clients, be sure to present reasons to them as to why they should work with you instead of someone else.

When I present this idea to my clients, they often go blank. Does this ever happen to you? If so, then with the help of a mentor or a coach, have someone help you discover your strengths.

For example, one of my clients did not realize how much she had going for her. She was a great negotiator, very attentive to details and at the same time was very personable. She would bend over backwards to be sure that her clients felt comfortable. When she realized her uniqueness, her business grew, as she realized how much she had to give.

Read more: http://www.realtown.com

Tip 5: Find and educate your clients

Clients for almost any service are hungry for knowledge. Remember to approach any selling opportunity as an education opportunity. Even if they aren’t ready to buy at that moment, they will remember who was honest and helpful when they are. Find a way to offer a class or seminar and increase your exposure and credibility even more!

Read more: http://www.realtown.com

Tip 4: Monitor your own self talk

No one knows how to create negative chatter in your mind, more than you do. With the flip of a switch, you can turn off negative self talk and give yourself positive and encouraging self talk.

Here’s how you can spot negative self talk. It will sound something like:

• I don’t know if I can succeed in today’s market

• I don’t know if there’s enough business to go around

• Maybe it’s time for me to get a “real job”

After working with entrepreneurs for the past 10 years to help them to double and triple the incomes, I have found an easy technique to intervene and create a positive mindset.

The next time you notice any negative self talk, just say STOP! Then take a breath and put in some positive new thoughts. Here are some examples of positive thoughts I have helped my clients create:

• I have the skills and confidence to succeed in any economy

• There’s more than enough to go around

• The bottom line is - no matter what, people will always need my expert services

• I do work I love and I’m richly rewarded

What does this do? This creates a positive, affirming mindset so that instead of asking the question, “can I do this?” you ask, “how can I do this?”

Read more: http://www.realtown.com/

Tip 3: Put up boundaries on negativity in your environment

You probably know what environment I’m talking about. I’m talking about being around other negative people.

Many of the clients that I’m currently coaching are busy creating a positive mindset. How do they do it?

They tell me, “I don’t hang out with people who are negative. I would rather stay away than hear the negative buzz.”

“Well done”, I say, “Don’t let anyone rain on your parade”.

Read more: http://www.realtown.com/

Tip 2: Look at the facts

The economic forecast is actually quite different than what the media is spinning. Here’s what you need to know to get you motivated, and in action:

• interest rates are still at an all-time low

• we’ve gone through the worst of the dip

• indications are that stocks will start to rise and that there is more confidence in the economy

In other words, according to the experts, the worst part is over and people will begin to buy again.

Source :- http://www.realtown.com

In today’s changing economy, many entrepreneurs and real estate agents are wondering what to do. Some have gone through a cycle of shock, disappointment, fear, and now confusion. What seemed to work in yesterday’s marketplace isn’t working today, so what to do?

The truth is that there are many opportunities in today’s market for success. This article will give you 7 tips to thrive in today’s economy.

Tip 1: Listen to the media with discernment

Why should a prospective buyer choose your service as a Real Estate Agent?  What value for money/commission do you offer?  This video gives some interesting tips and information for Real Estate Agents on justifying the commission they charge.

Show them the Difference !!

David Knox - Information For Real Estate Agents

Source : - http://www.youtube.com/user/davidknoxproductions#p/a