The game of marketing is all about numbers, and getting your message across in the right way in front of a lot of people requires math. There are 2 major things that you will want to know right off the bat before you start marketing your products and services again. Here they are:
1) Cost per lead
2) Cost per sale
Both of the statistics for these 2 elements of marketing will say a lot about how much money you can afford to spend on advertising, and how much money you can afford to invest when getting a new customer.
If you find that it takes you $ 1 to get a new customer, then you can re-orchestrate the marketing process to find how much money you need to spend on advertising in order to see how much money you're earning per ad that you run . It's tough to come up with one in the beginning, but once you've gotten the hang of it, you can really start to predict how many money you can make each month. Is not that exciting? I call that elegant.
No matter what the cost per lead and cost per sales is, to make a BIG impact, you still have to go out there and start marketing to get more new leads and customers into the door. I do not think you should do any kind of marketing until you've figured out how to get a lot of new people into the marketing process.
If you're lost on how to get more new customers so that you can quickly calculate the cost per lead and cost per sale immediately, then I will show you some quick tips on how to get more people into your place of business. Here's the first way to start getting more new customers:
This seems pretty simple right? You go run an ad, wait for the responses to come in, and then follow up on them with your entire marketing piece. Your marketing piece can be a sales letter, a brochure, a menu, a free report, and etc. There are all kinds of marketing pieces out there that you can use in your business today. Let's take a look at another technique to get more new customers into your doors.
2) Referral marketing
The fastest way to get referrals from your customers is with a free gift. Tell them that in order to receive their free gift, they have to refer someone via with your business card, or via your website. This is a fast way to gain more new customers for free, so it's something that you should not take lightly.
These 2 ways for making your advertising and marketing campaigns a success are great ways to improve your sales and profits immediately. I just hope that you're able to make your business a success, using low cost marketing techniques. The more ways you can decrease your advertising costs all while making a nice profit, the more ways you will stand the chance of being successful in your business.
Good luck with using these tips to make more money in your small business today.