Everyone knows that advertising is essential to the growth of a company. One problem that small business owners have always faced is the high cost of marketing. But most do not realize that there is an effective way to reduce the cost of your advertising while - at a time - by increasing its scope.
Advertising cooperatives are not new. Usually, they are a "benefit" offered by major manufacturers to encourage retailers to promote their products. Because the retailer has direct access to customers who want to buy certain products, it only makes sense they should do joint advertising. Youve seen it - McDonalds mentioning Coke in their advertising, claiming that Dell you have an Epson printer free with the purchase and so forth.
The retailer does not make the product, the manufacturer provides, but it is a great match with what they DO offer. Nobody would want to eat a Big Mac without something to drink, and a computer would do much good without a printer.
Now you can use this same strategy to create your own advertising co-op to increase your reach and significantly reduce the cost, too.
How it works
Generally speaking, the cost of any advertisements (bulk emailings, ezine ads, banners, newspapers, etc.) would be split equally among all participants. If you and two associates decide to purchase a solo ad, you should enjoy equality of each mentions in the ad and you pay each an equal part of the cost.
So if the solo ad went to a list of 200000 and cost $ 150, each of the three would pay $ 50. You get to reach 200000 people for 1 / 3 the cost you would have normally paid. And, because this ad relates you to other types of businesses, you actually expand your advertising reach.
Getting Started
So who would be qualified to enter into a cooperative group with you? It depends on the nature of your business. Think about others than even reach your target audience and make a list. If you design Web sites, you might approach hosting companies, designers, editors or programmers. If your business is landscaping, you could invite yard maintenance to join you.
Once you have a list of one or more types of businesses, current employees to think that you know who belong to these groups. Also, ask others if they know of any reliable businesses that fall into the categories you have indicated.
Making approach
When you have a list of businesses to approach, simply write or e-mail your bid. Be sure to emphasize the benefits such as:
Finalizing the Deal
You will need to develop payment arrangements with your partners prior to placing the ad (s). The best way I have found to handle the finances so that each party to get their share of the cost of a credit card. I then place the ad order with MY credit card. Thus, you are assured of the amount owed to you and your partners have the assurance that - if you default on your end of the operation - who resort to get their money.
Working in cooperation with other businesses can lead to tremendous success in advertising. When like-minded companies pool their resources to reach a target audience, the impact is doubled while the cost is reduced by at least half.
Advertising cooperatives are not new. Usually, they are a "benefit" offered by major manufacturers to encourage retailers to promote their products. Because the retailer has direct access to customers who want to buy certain products, it only makes sense they should do joint advertising. Youve seen it - McDonalds mentioning Coke in their advertising, claiming that Dell you have an Epson printer free with the purchase and so forth.
The retailer does not make the product, the manufacturer provides, but it is a great match with what they DO offer. Nobody would want to eat a Big Mac without something to drink, and a computer would do much good without a printer.
Now you can use this same strategy to create your own advertising co-op to increase your reach and significantly reduce the cost, too.
How it works
Generally speaking, the cost of any advertisements (bulk emailings, ezine ads, banners, newspapers, etc.) would be split equally among all participants. If you and two associates decide to purchase a solo ad, you should enjoy equality of each mentions in the ad and you pay each an equal part of the cost.
So if the solo ad went to a list of 200000 and cost $ 150, each of the three would pay $ 50. You get to reach 200000 people for 1 / 3 the cost you would have normally paid. And, because this ad relates you to other types of businesses, you actually expand your advertising reach.
Getting Started
So who would be qualified to enter into a cooperative group with you? It depends on the nature of your business. Think about others than even reach your target audience and make a list. If you design Web sites, you might approach hosting companies, designers, editors or programmers. If your business is landscaping, you could invite yard maintenance to join you.
Once you have a list of one or more types of businesses, current employees to think that you know who belong to these groups. Also, ask others if they know of any reliable businesses that fall into the categories you have indicated.
Making approach
When you have a list of businesses to approach, simply write or e-mail your bid. Be sure to emphasize the benefits such as:
- A win-win situation
- Reduced costs of advertising
- Expanded the scope of advertising
- Largest and most important announcements for a fraction of the cost
Finalizing the Deal
You will need to develop payment arrangements with your partners prior to placing the ad (s). The best way I have found to handle the finances so that each party to get their share of the cost of a credit card. I then place the ad order with MY credit card. Thus, you are assured of the amount owed to you and your partners have the assurance that - if you default on your end of the operation - who resort to get their money.
Working in cooperation with other businesses can lead to tremendous success in advertising. When like-minded companies pool their resources to reach a target audience, the impact is doubled while the cost is reduced by at least half.
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