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The first sign that you might need
to explore new marketing strategies, is a sharp decline in the effectiveness
of your advertisment campaign. Yeah, you shell out a lot of hard earned cash
to advertise, and the public turns its nose up! Don't wait until your profits
are plunging to start hunting for new marketing strategies. 1. Explore New Advertising Methods Here’s the rule of thumb for
advertising: Keep 80 percent of your advertising budget invested in the
“tried and true” methods that bring in a steady flow of profit, and invest 20
percent into the exploration of new ways to get your message to potential
customers. 2. Be On The Lookout For New
Markets You don't have to go out on a limb
to reach new markets. There are marketing niches within the market you are
currently dealing with. Think of it like this...your market can be subdivided
into several narrowly defined markets. A Multi Level Marketing company may
notice that many of its prospects are stay-at-home moms and retirees. Hey a
few advertisments directed at the right people...two additional Web pages
targeting stay-at-home moms and retirees linked to their home page...and
they've effectively customized their markets and are likely to see a 20
percent increase in sales. 3. Invest In New Products or
Services A bridal shop owner may have a
humming business that sells gowns and veils, but what about tuxedos? Wouldn't
it be easier for the wedding party to get everything in one place? Tuxedos
aren't just for weddings...proms and parties call for bow ties and tails as
well. The potential is expansive. Yeah, you don't have to be
intimidated by clever competition and new technology when you stay on the
edge, and make changes with it. Try these 3 strategies to keep you sales
numbers vibrant and climbing! ABOUT THE AUTHOR Who is Allyn Cutts, and why should
you care? |