Posted by Scott Bywater in advertising, copywriting, marketing Jul 9th, 2008 | 1 Comment »
Types Of Marketing Strategies

photo credit to Brady Withers” flickr

Recently, I pulled out a copy of my book from the winner of Donald Trump’s Apprentice, Bill Rancic.

Now on page 111 of Bill’s book, You’re Hired, he talks about his cigar business and how he had built the business up through radio advertising.

However, when the sudden flush of dot-com advertisers came into the marketplace , advertising rates skyrocketed. Because of course, the rates were all based on supply and demand. The more demand – the higher the prices went.

Of course, that was great for the radio station, but not good for Bill’s business.

Now to cut a long story short, it was no longer viable for him to advertise. And he had to change his entire business operation.

Through some smart thinking, they moved the way they did business from mail order to on-premise sales.

However, it’s a very tough situation to end up in. And it could happen to any business that relies on one advertising strategy.

For instance:

  • If you get most of your business from the internet: what happens when advertising rates rise? Or when it’s not so easy to get high search engine rankings? Or when pay per click rates go beyond an affordable price?
  • If you send out heaps of email, what happens if the government starts charging for email?
  • If you use fax streaming to generate leads, what happens if the government brings in rules which makes this marketing strategy illegal?
  • If you rely on the Yellow Pages, have you ever considered the fact it could become less and less effective as people move online rather than relying on the book?
  • If you rely on telemarketing to generate leads, what if the government outlaws it at some time in the future?
  • What if your television advertising rates double?

My point is this. If you rely on one of anything, you are leaving yourself in an exposed position. Imagine building a house which balances on one pole. If that pole gets weak, down goes your house.

And it’s the same with your business.

Think ahead. Test a variety types of marketing strategies to improve your business…

    • Yellow pages
    • Newspaper
    • Fax streaming
    • Internet
    • Television
    • Direct mail
    • Radio
    • Joint Ventures
    • Referral Programs
    • Seminars
    • Database marketing

And anything else you can think of. That way… if the laws change… if the advertising rates go up… if all of a sudden one of these marketing strategies stops working as well as it used to…

Your business will be safe.

And you are the one that has the power because you are not reliant on any particular advertising strategy.

Right now, write down the types of marketing strategies you currently use to generate business. And then write down a few other ideas you can test, so you have 5 marketing strategies to draw people into your business.

And let me know how you go…

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