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LOW COST ADVERTISING INITIATIVES

A good Mexican proverb says: « If you want to sell it, you have to show it ».  Simple?  Yes and no. This proverb does underline the need to invest in advertising, but all advertising options are not equal in cost and volume of sales generated. Mass advertising campaigns are more expensive but produce a large amount of customers. However, one needs to get to this stage.  Here are a few ideas. 

Another saying I like a lot: « It is cheaper to sell to existing customers than to find new ones». This reality is so true that it is the basis of customer service. What are the main objectives of this service? Retain existing customers, trying to sell more to them and embark in a quality improvement process.

Combining the two statements, we have the basics of our low cost advertising strategy: « Sell to your existing customers and their network of contacts ». How? By being proactive.

The first action: know your customers. Make lists to get an idea of who is buying from you and what are they buying.

The second action: are you sure your customers know all the products and services you sell?  Many of our customers do business with us for a product or service and it is surprising how many do not know the extent of the products or services that we also offer.  Get this known to them.  

The third action: know your customers’ needs. You have a shoe store and you sell them shoes? They probably need handbags, computer case or belts. If these products are not yet part of your offer, it would be a good idea to add them. The cost is relatively low and your potential return can be very high. 

The fourth action: create « soft-sell » campaigns. What is « soft-sell »? It is selling without pushing your products or company too hard.  Free presentations, an official opening, the arrival of the fall collection, the fifth anniversary of your business are all excuses to invite everyone on your list to visit your business and creating a "buzz". But the purpose of this strategy is to continue. If you do one activity, your efforts will be maximal and the results will be minimal.

The fifth action: involve the network of your contacts in your campaigns. All customers have relatives and friends; involve them in your strategy.   This is the basis of network marketing. Social networks are a great way to create support this initiative. Also have your website regularly updated will help in getting people back and talk about your company to their peers.

Implementing these strategies, you will have a loyal customer base at a lower cost.

If you have any questions or if you would want us to adapt these strategies to your business, do not hesitate to contact us.

It would be our pleasure to be part of your success.

Stéphane Elmaleh-Riel, B.Ed., MBA
Marketing consultant