| Let's face it; these are some tough economic times. | | | | and other media outlets will be hurting for business. |
| As as small business owners, these may be some of | | | | This means you can often get discounts and bargain |
| the toughest times many of us have faced. However, | | | | rates that you might not otherwise be entitled to. |
| that does not mean you cannot prosper. In fact | | | | These publishers need to stay in business just like you |
| throughout history, economic times tougher than this | | | | do and selling advertising space is how they generate |
| have always presented business owners with plenty | | | | their revenues. You will find they are often quite willing |
| of opportunities to grow and prosper. It is all a matter | | | | to strike a deal with you to earn your business. |
| of having the right mindset, putting your fears aside, | | | | Since your customers and prospects are more |
| and taking the necessary steps to promote your small | | | | conservative with their buying habits, the use of |
| business even more. Incorporating some of these small | | | | coupons during tougher economic times has |
| business advertising tips can certainly enhance your | | | | traditionally increased. People are looking for bargains |
| profitability and help carry you through these tougher | | | | and good deals, but there are a few things to keep in |
| times. | | | | mind. First of all, don't cheapen your business or the |
| One of the mistakes that I see so many small | | | | product or service you offer. If you are concerned |
| business owners make is when the economy gets | | | | about giving up too much of your profits, you can still |
| tight, they decrease their advertising or stop altogether. | | | | present a very enticing offer without cutting into your |
| That is the worst thing you can do for your business. | | | | bottom line too much. This is accomplished by adding |
| One of the reasons is because your customers or | | | | value to the offer rather than chopping the price. Think |
| prospects may be a little more conservative with their | | | | in terms of what you can offer that will increase the |
| money, so the extra effort of calling additional attention | | | | perceived value of your product or service without |
| to yourself and your business will pay off. People are | | | | adding a lot of real costs. Often times adding some |
| still willing to spend money for the things that they want | | | | type of personalized service that will only cost you |
| or need but sometimes they require a bit more | | | | some additional time will add a great deal of value in |
| convincing so they feel the product or service they are | | | | your customer's mind. |
| about to purchase is really worth it. Now more than | | | | Depending on your market or customers' buying habits, |
| ever, it's not a matter of price so much as it is value. | | | | the most effective type of coupons for your business |
| Your customer or prospect can justify a very | | | | might be ones that do indeed offer a price reduction. If |
| expensive service if it provides real value to them. This | | | | that is the case for your business, by all means don't |
| value can be in the form of something that saves | | | | offer wimpy coupons. For me personally, that just |
| them time or money, both of which are valuable | | | | says I'm really not worth that much to your business. A |
| commodities. Even more importantly, the value they | | | | 5% discount really does nothing to attract my attention |
| perceive can be something that makes them look or | | | | unless it is on a very expensive item. Do not think in |
| feel really good about themselves. Anything you can | | | | terms of a one-time sale but rather the lifetime value |
| do to enhance your company's image or increase the | | | | of that customer. In other words, if you establish a |
| perceived value of the product or service you are | | | | good relationship and serve that customer really well, |
| offering will greatly benefit your marketing efforts. | | | | the amount of direct income they could bring to your |
| Another advantage of increasing your advertising and | | | | business could be significant over the course of years. |
| marketing efforts during lean economic times is simply | | | | Of course you also have to factor in the amount of |
| because less people are doing it. So what that means | | | | income that could be derived from other customers |
| is there are less advertisers competing for your | | | | that they refer to you. So giving a little more discount |
| prospects' attention and wallets. Because there are | | | | upfront can certainly pay off in the long run. |
| fewer advertisers in the market that means publishers | | | | |