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Title: Is Retail Advertising Bankrupting You?
Author: Noah Salzman
Article:
Retailers keep dropping like flies. And in many cases,
advertising does them in. Either they don't advertise enough,
try to do it themselves or advertise in the wrong places.
There is a lot to think about before opening a retail shop - but
one thing invariably gets saved for last. <B> Retail Advertising
</B>.
I suppose that those who rely solely on the ever-perfect
"location-location-location", have forgotten that
"promotion-promotion-promotion" and "timing-timing-timing" are
overlooked in the process.
Like all new light bulbs, there is no denying that eventually, a
store's visibility begins to fade. What to do?
Advertise!
In many cases, however, the poor retailer has waited too long,
runs a poor campaign, can't recover and goes belly-up. The media
join other creditors who line up "waiting - waiting - waiting"
for nothing.
To avoid becoming another <B> retail advertising </B> statistic,
here are simple rules to follow:
1. Have a marketing plan. It is integral to your success.
2. Don't rely solely on the marketing-101 skills you acquired
too many years ago. Get some guidance. Print reps, radio reps,
tv reps can give you some necessary pointers. Learn what you can
but remember, they are selling you their product. One of your
best bets is to ask your sales reps who they would recommend you
advertise with as a complimentary ingredient in your advertising
media mix. Good and responsible advertising reps are always
ready to make recommendations.
3. Read up on the different benefits of available media. For
example, check out the RAB (Radio Advertising Bureau). Download
their Marketing Guide and Fact Book. Dig into the valuable info
available at the Newspaper Association of America - Download the
most recent Study Report.
4. If there is something extremely original about your business
that is newsworthy, make a point to write up a press release and
fire it off to the media. To get some valuable info on how you
can tap into a wealth of free publicity, visit <a
href="http://www.noasound.com"><B>Noasound</B></a> and go to the
adbiztip section of the navigation bar. You'll find a link there.
5. Your best bet if you have the budget, is to hire a small or
mid-size agency that specializes in retail advertising. Nothing
beats having a team of pros who can assess your needs and steer
your business in the right direction. The rates are fair and the
time you'll save (as well as the headaches you'll be spared) is
absolutely worth it.
Typically, retailers have a reputation for being tight-fisted
and worse, penny-wise and pound-foolish. The best scenario is to
establish a budget and stick with it. Spend only what you can
afford. Depending on the nature of your business, 2-5% of your
sales is a typical expenditure for <B> retail advertising </B>.
If you're not sure, speak to your accountant.
Once your budget is set up, you can plan a campaign that makes
sense. I've always taken the approach that you should "spend
money - when money is being spent". Using this method allows you
to grab your share of the market dollars that are flying around.
This is the most opportune time to put your money heavily into
promoting your products or services.
Gone are the days when you could advertise and people would
instantly respond. Over the years, fierce competition has
managed to train the consumer that there is ALWAYS a sale. When
a consumer has that mindset, your sale better be spectacular if
you want to sell swimming pools in February!
And don't forget promotions! They're invaluable in building
customer loyalty and developing a client list for direct mail
campaigns.
ADBIZTIP: The best clients in the world are the ones you already
have. Use letter campaigns, mailers, email and phone calls to
invite them to VIP offerings from your company. Do that often
enough and your clients end up feeling left out if they don't
hear from you. Now that's a good position to be in.
About the author:
Noah Salzman runs NoaSound Productions - a full service Ad
Agency where for over 25 years, he has advised clients in the
retail sector how to effectively market their products and
services. His areas of expertise include: Graphic Design,
Packaging, Jingles, Retail Advertising, Copywriting,
Photography, Online Marketing, Web Design, Audio/Video
Production. <a href="http://www.noasound.com">RETAIL
ADVERTISING</a>
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