- Engage in negotiation
Have you ever noticed how some folks always seem to obtain the best deals? Yes, you pay full price and believe you did well until they arrive with the exact identical thing for several hundred dollars less. It truly gets under your skin! How are they able to achieve this? They are not scared to request an additional discount.
Yes, do not shortchange yourself by failing to ASK the next time your advertising representative makes an appearance! Even if you already have a discount, request a larger one. You haven’t…because you haven’t inquired.
It’s always preferable to be bigger…or is it? When it comes to advertising, don’t be surprised if some of your shorter ads perform better than your longer, more expensive advertisements. Reduce the size and expense of advertising without sacrificing results!
- Take Advantage of Freebies
What is the distinction between advertising and public relations? …who is speaking. True, when you sell yourself, you are engaging in self-promotion. When someone else sells you anything, it’s publicity…and publicity generates credibility and interest, which you don’t want to miss.
Consider the various methods you might bring attention to your firm. Do you have any news… How can I create a press release? Write some “how-to” pieces and submit them to ezines, magazines, newspapers, and other publishers with a brief byline at the end. Why not promote non-goods competitor’s in exchange for them advertising yours…consider the very different market they serve!
Yes, there are numerous avenues for obtaining free advertising that will assist your organization. Of course, you cannot rely entirely on freebies, but hey, you can get something for nothing!
- Enhance Your Offering
Is the deal you’re offering too good to pass up? If not, you should work on it. I’m not suggesting further price reductions…you still have to earn a profit. You can sweeten the bargain simply by boosting the reader’s awareness of the product’s value or by including freebies that are seen as valuable yet cost you less.
Expiration dates might be used to entice customers. True, an open-ended offer invites procrastination…which, as previously stated, leads to…nowhere. When a consumer realizes he only has until Saturday to acquire an item that would cost more on Sunday, he will make it a priority to visit your store.
Advertising does not have to bankrupt you. When you learn to negotiate, recognize when smaller advertisements are just as successful as giant advertisements, request discounts, and make an attractive offer, you’re on your way to rising profit margins!