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Attracting Buyers

Last Updated on Wednesday, 31 December 1969 15:59 Written by David Trumble Wednesday, 04 February 2009 08:24

Are you tired of empty promises from those get rich quick schemes?

Are you frustrated with empty promises from those get rich quick schemes?

The sewing machine repair business is a real doable business, like all real businesses. Success depends on successfully doing three things: Attracting Customers, Satisfying Customers, and Holding On To Customers.

Think about the challenge of Finding 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.

Advertise or have others advertise for you. These are your options if you intend to get new customers. Initially, think about what advertising you can do.

Make a list of all your marketing options. There are many. Billboards, direct mail, bulk saturation mailings, postcards, fliers, posters, newspaper space ads, classified ads, batched advertising, radio, TV, cable TV, and telemarketing are just a few of your options.

Why promote your business? Of course, to get new customers. Advertising is the fastest and easiest way to attract prospects and make them customers. In just a few days, you can have real customers and be making real dollars.

The problem with marketing is that it can be extremely expensive. At the beginning, it is not uncommon to spend more on advertising than you make in your sales. This can be devastating for a start-up company. You need to tightly control your advertising expenses. Set stringent standards for return on your advertising investment. For every dollar you invest in advertising, you must produce enough sales to pay for the advertising and all the other costs of servicing that sale. Ideally, a dollar in advertising should produce ten times that investment in sales. Another way to view this investment is to calculate your advertising expenses at 10% of each sale. This is easier to do once you have established a track record.

Different advertising 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.

Think about your business. If your business is going to operate out of your home or garage, what marketing do you think will best reach your prospects? If you have a store front, how does this change the dynamics?

For this discussion, lets assume our business is operated out of our garage. That means we need customers to come to our home. We need customers to trust us as a neighbor. With this in mind, what advertising vehicles might be most effective for us? The typical promotional approaches small business owners consider include space ads in the newspaper, classified ads in the newspaper, bulk advertising programs, and direct mail.

Space ads are often the first advertizing choice. In a moderate sized town, the ad rates may run $10 a column inch. If you know that a newspaper has twenty large pages, averages 75 advertisers, and that 20,000 papers are distributed. , but in larger cities the same ad might run $75 or more per column inch in a much larger paper with hundreds of advertisers. What are the chances that your small black and white ad will be seen by enough potential buyers to justify the expense? Try to determine exactly how many prospects are going to be reached by your ad. Calculate your investment by your customer reach. Track your results, when you use this medium. Then calculate your investment by your actual customer response. Determine how much each customer cost in terms of the advertising.

Will classified ads work for you? They certainly cost less than space ads in the newspaper, but are they hidden away in a special section of the newspaper where the reader must go searching? In most cases, keeping a one column inch classified ad in the local newspaper is far more productive and cost effective than space ads. In every case, track your results.

Have you considered direct mail, direct distribution, or batched marketing? 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.

Advertise your business aggressively, but wisely. Track your results. Use common sense when you set up your ads. Always keep the question in your thoughts, How will I Find customers? Consider your return on investment, the effectiveness of the ad and media, and the overall results. Avoid spending your business into the ground by ineffective expensive advertising.