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Business Profitability Improvement Plan(advertising Strategies). - Business - Nairaland

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Business Profitability Improvement Plan(advertising Strategies). by Businesstools(m): 7:43pm On Jul 07, 2012
ADVERTISING STRATEGIES

The following are advertising strategies designed to help improve [Business name]’s profitability.
• Target the right people. If you try to advertise to everybody, you will end up targeting nobody. Your first step in improving your marketing effectiveness is to identify a group which has the greatest need for your product. Having identified your niche, you need to grab their attention by highlighting what is beneficial and important about your product in all your campaign. Customize your promotional materials and advertising campaign to appeal to their greatest needs and focus your marketing efforts towards your target customers. When you target prospects with the greatest need for your products, your marketing efforts will produce the best result at the lowest cost.

• Print three thousand (3,000) copies of fliers with colorful graphics, relating to your business. In creating them,
1. Use a big, bold attention getting headline.
2. Discuss the benefits of your products or services not features.
3. Provide multiple ways for your prospects to reach you; phone, email, business address and website.
4. Give them a reason to contact you by providing incentives: offer something for free, a gift, a discount, a chance to win something, or anything else that can motivate them to take action now rather than later. The offer should be given with a time limitation or closing date. Example, Call NOW and get 10% Off our Regular Price!
5. Feature compelling testimonials from satisfied customers including their names, occupation and location.
6. Use the fliers to encourage referrals. Having a statement such as, “If you are not in need of our product or service, please pass this along to someone who is.” You might be pleasantly surprised at how much customers this single statement can bring in!
Once you have created your marketing fliers, it’s time to start handing them to prospective customers in your area. You can do this yourself by distributing fifty (50) copies everyday for two months or alternatively, set-up a 4-man or 5-man team to do the distribution for you within a few days. You can ask for permission to drop some fliers at places likely to be visited by your target such as banks, hospitals, eateries, restaurants and bars, hotels, churches, parks etc. Also give some fliers to some of your loyal customers to help you distribute to friends and relatives. (Note: Before distributing the fliers, make sure you have the capacity to meet the demands when they start coming.)

• Write a short article about you and your business, and submit it to both print and online newspapers that your target markets patronize. Make sure you introduce yourself, emphasizing on how you happened to venture into this business, and why you love it. Show some passion for your business! Give some examples of how you have helped customers solve a problem. Include a gentle call to action along with your business address, phone number, email and website they can use to transact business with you.

• Print complementary/business cards, with your business name, description, contact information and also include a call to action, to prevent your card from being forgotten or thrown in the thrash. When creating business cards, its purpose should not only be to get your name and business name known in the market. Remember that your business card is one of the most vital marketing tools you can use to promote your business. It should effectively motivate your prospects to take action. Keep in mind that this could be your first and last chance to get your target customers to look at your card so you need to make it good by making a strong call to action which they cannot refuse. You can consider inviting your prospects to visit your website to get a free sample. You can also ask them to present your card to get a discount, a special introductory price or a free gift. Whatever it is you offer, you need to make sure you give your prospects a reason to visit your website or patronize you. The idea here is to persuade your potential customers to take some kind of action. You can consider putting the call to action in front of your business card and be incorporated in your overall design. You can also present it at the back for your prospects to have a reason to turn your card over. Aside from the call to action, there are other things you should include at the back. For instance, you should list some of the products you offer and give a discount to first time customers. Remember to make the overall design of your card attractive and professional to look at. Keep in mind that your card represents you and your business, so look at it as a marketing opportunity to communicate essential information about your business to your customers. Feel free to give cards to prospective customers and also drop some at places likely to be visited by targets.

• Advertise your products and business on local newspapers and magazines and other industry niche publications.

• Showcase your business on free monthly commercial Ad guides covering your area. A typical example of commercial Ad guides that showcases products and services across Delta, Edo and Lagos State is Xcetera, email: xceteraekp@gmail.com, Website: www.xcetera.xinv.com.ng

• Take advantage of classified AD websites such as www.tradestable.com.ng , www.dealfish.com.ng , www.whitedrum.com , www.123nigeria.com and www.bunchbay.com to showcase your business. These sites give you the opportunity to advertise your products and business for free.

• Enhance the visibility of your business by placing an outdoor signage. It is an effective marketing tool in the sense that it attracts the attention of potential customers. Get a graphic designer to design an attractive and stylish signage for your business. The signage should contain a light source (bulb or fluorescent lamp) to make it visible at night. Also consider placing a small sign at the street entrance.

• Some churches, especially Catholic, sell advertising spaces on their weekly bulletins. Contact local churches in your area and see if you can buy an AD space in their bulletin. They usually reach a large audience for a small price.

• Make use of mobile marketing (bulk SMS) to reach your target. SMS marketing is definitely the most personal and effective method of direct marketing. If properly implemented, mobile marketing can produce a response rate of 20% for your business. SMS marketing has been estimated to be 10 times more effective than print advertising. Your customers always have their mobile phones with them. No matter where they are, your message will reach your target customers and there is a 98% chance that they will read your text. Take special care in drafting a captivating content. You can purchase targeted bulk SMS at Vconnect, www.vconnect.com .

• Make use of social networking sites such as www.nigeriabusinessplace.com , www.nairaland.com and www.nigeriabestforum.com to create awareness for your products. Register as a member and participate actively in these forums and make sure you include your business description and contact in your signature.

• Run sales promo on a regular basis. Distribute sales promotion materials like name-stamped calendars, pens and pencils, notebooks, jotters, T-shirts, ball caps to your customers. People like these items and will be happy to use them with your company’s name prominently displayed, thereby helping you to promote your business.

• Test and evaluate the effectiveness of every method you use to promote your business. A simple way of doing this is to ask new customers how they got to find out about your business. Channel your advertising efforts towards the most effective methods.

For a comprehensive Business Profitability Improvement Plan containing detailed competitive,advertising,online marketing,customer service,revenue growth and cost reduction strategies to help you beat your competitors,attract more customers,increase sales and boost profit,call Patrick on 07030949450. Usually we charge twenty five thousand naira only to develop one.Call before Monday 09 July 2012 and get yours for five thousand naira only.

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