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Hot tips & Ideas Update, Vol-10 Issue #020
October 26, 2010

Web-monthly update news

Hot Tips Of The Week 27 Oct 2010
Volume 10, Issue 020
 
1. Note from David

2. Feature Article:
Getting The Most For Your Advertising Money

3. Insight Of The Week

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Note From David

Hello ,

When I told a friend of mine how much we spend on acquiring new customers, he pointed out that I should really focus on selling to existing customers.

He is correct that it'll cost 7 times more to acquire a new customer than to maintain an existing customer, and that true profits are coming from current clients. I'll share my thoughts on this prospect in our next issue...but we mustn't mistakenly think that we don't need to focus on bringing in new customers.

Acquiring new customers isn't initially to maximize profits, or to simply make a sale, but to establish a reliable system of generating new clients that will come back and spend more money, the long term growth and security of any business comes from the acquisition of new customers.

Due to competition and other factors beyond our control, every business has an attrition rate. Just think about it, if we aren't bringing in more customers than we are losing, our business is going downhill every day. Neglecting new customer acquisition is a big mistake.

Before you spend any serious money on advertising, answer these four fundamental questions:

-Where will you find new customers?
-What is the first product you'll try to sell them?
-What will you charge?
-How can you best persuade them to buy?

Please don't be fooled by the apparent simplicity of these questions, for your answers to them you can dig a lot deeper. Markets change and shift, the correct answers to the above questions require research, development and testing.

In our feature article, we are going to talk about: "Getting The Most For Your Advertising Money", I hope you can get some good ideas.

Enjoy!

Dedicated to your business success and profits.

David Ji

** Email David Ji Now **
Feature Article

Getting The Most For Your Advertising Money

Advertising isn't easy. You have a lot of choices to make, and a lot of options available. But doing the same thing every year isn't going to get you new business. Everything changes, and that should include your advertising.

Things to think about:

* How have people responded to various advertising campaigns in the past? Some types of advertising -- like direct mail or a web campaign
-- are easier to track than others.

* How much did each campaign cost you, compared
to how much your company made as a result? (Also known as your return on investment, or ROI.)

* How many different types of media are you advertising in? Ideally, you want to expose your company across as many different types of media as you can.

A customer's ability to connect your name/company with a particular product or service is influenced by your advertising. A person may need to be exposed to your name and message several times before they ever walk into your store or visit your website. The broader your advertising is, the more chance you have that someone will see and remember your company.

Use common sense in your advertising. If you are a national company, don't just advertise locally. On the other hand, don't waste your money advertising your local company in a national magazine just because you can get a good deal.

One last tip: a fresh perspective can help inspire new ideas for your advertising. Talk to friends who aren't in the same industry you as. Ask for their thoughts and you might find yourself with an exciting new campaign you never would have come up with alone.

'Getting The Most For Your Advertising Money' was brought to you by Advance Printing and Signs Pty Ltd...A true "one stop" PRINTING & SIGNAGE supplier. Want to save TIME, MONEY & STRESS on all your printing needs? Contact us on 02 9749 1966 at 38 Railway Street, Lidcombe, Sydney, NSW Australia 2141

(C) 2010 David Ji - Advance Printing & Signs

Insight Of The Week
"When you develop your ability to balance your emotions,
unexpected problems won't knock you off balance as easily,
and you'll return more quickly to a positive outlook.'"

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