It's a numbers game

Sales and marketing

In business it’s all about the numbers. Profit, turnover, number of customers, quantity of stock, sales per customer, number of times the prospects see your adverts and so forth.

Great to have a profit margin on items you sell (I highly recommend it) but to get people to see what you have and then turn them into customers is another thing entirely.

One advert in a local paper may not get noticed, two might, three is getting better. Some businesses indicate they need to have their advert in at least 8 times to start to be known. But guess what most people starting out in business give up well before that.

Most people are used to a simple give and return process, they spend some money and get something in return. In the case of advertising, you spend but may not see anything for a long while.

What makes this even more difficult is the range of ways you can advertise and tying up lots of money doing lots of things to TRY and get people to notice your business. In the case of highly competitive businesses, it then comes down to the prospect wanting to change from what they are already used to.

Know this much, advertising seems to be more of an art (up to a point) than it does a science. Mind you those who have been successful at it will tell you over a certain point you get to realise it pays off, having the ‘guts’ to hang in there while getting ‘up to speed’ is another issue.

Tip: Take a look at what your successful competition is doing and or has done. If they have a catalogue run every month, coupled with TV adverts, social media efforts and more, then you will probably find that’s what works for the prospects for that type of business. You would do well to use that as a ‘yard stick’ starting point.

Steve Gray

Director at Gray Capital Investments

You're in business, you want to win, not fail, you want success not struggles. You have an idea, you have spent a lot of money and time getting started but now what! Get a strategy in place, develop a plan, call me and get an outsiders view on what you are doing well and what needs to happen next. In the meantime check the articles on my website. Cheers


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