How To Invest Less Into Your bar Business Marketing But Get Far Greater Results
If you want to be financially successful, really successful, there are a number of ways to approach that goal. You could buy a winning lottery ticket, hit the jackpot in a casino, inherit a fortune, or invest in a stock just before it booms-the list goes on. Unfortunately the odds of you actually reaching your goal by these means are dramatically low.
Most economic advisors agree that the surest way to become financially successful is to invest in your own business. The inherent incentives you receive, such as tax deductions and write-offs, are only a small part of the benefits of owning a business. None the less, there are expenses incurred. There is overhead such as rent, utilities and offices supplies. There are wages to be paid and equipment to purchase then maintain. And, of course, there are product related costs such as manufacturing, transport or payments to suppliers.
There is one expense we did not mention: Marketing.
Marketing is really not an expense at all. It's an investment.
The stock market may give you a return on your investment of say 2%, 3% or even 10% to 12% depending on the risk involved. If you happen to buy a stock that makes a nice jump maybe you will see a return of 15% to 30%. That's if you're lucky. The higher the return, the higher the risk. You could end up losing your entire investment.
On the other hand, a proven marketing plan has the possibility of yielding 500%, 1,000% or much greater return on your investment.
If you pay $50 to put an ad in a local paper or magazine and it earns $250 in proceeds, that's an increase of 500% or 5 times what you originally invested. If your profit is $500 you've just made 10 times your investment or 1,000% and so on.
The key to these high percentages is in knowing how to create and implement a successful marketing plan that will generate the best possible outcome.
Whether your ad runs in a magazine, newspaper, direct mailer, internet or even radio and TV, your message is going to be delivered to whomever you intended. If you get 1, 10 or 500 replies, the advertisement expenses remain the same. The magic is not in which media you choose or how expensive your advertisement is, though they are contributing factors.
The real magic in your successful ad will be in its content.
Ask yourself this: "Does my ad...
...bring to light a need or want in the consumer?"
Typically bar Business owners expense more than they need to toward acquiring new customers. These are funds that could be spent more wisely toward growing your business more efficiently or strengthening your business' bottom line.
There are ways to effectively tighten the belt on your marketing expenses. For more on how to invest less into your marketing but get far greater results;
Please see "The bar Business Marketing System for Radical Results"