Used correctly, promotion can be the single largest profit-making tool that you as a business person has to boost your business & profits.
You can put your money in the bank, in shares or buy some actual estate. You'll receive a return on investment of 10%, 20%, perhaps up to 40%.
On the other hand, money invested in promotion of your business will without doubt give you your largest single return on investment - greater than any other type of financial investment.
Calculate that increase over a year. Are you able to see why promotion is the simplest way to make money in your business?
How come? Well, because a single advertisement, properly targeted, with the right headline & offer, costing say £300, can bring returns of perhaps one,000% or more within days.
Let us say you are already walking an advertisement & getting five calls a week from it. You change a headline & now you get 8 calls a week. What in the event you raise your number of sales from two out of the five individuals who call, by more sale? That is 52 more sales in year. And the additional sales from the other calls & now you have 104 more sales over a year. How much profit did you make with the same money expenditure?
That is leverage & you can do it in your business...
All you need to do is experiment, check different offers, headlines & target the right groups of people.
A restaurant on the Gold Coast in Australia sent their customers a letter with the offer of a free dessert. Only people out of hundred came in on that offer.
The next month they sent another letter offering new customers $10 credit for the next month only. The response... 18.8% at an average sale of $52.20. That is $9,991 for every 100 letters sent.
Another advertiser jogging an advertisement for a home perm headlined, New Home Perm - Conditions As It Curls, and received 100 replies. The second headline was titled, Girls... Require a Speedy Perm? This received very 300 replies. That is very 200% more. This advertisement ran every month for years. By changing the headline the business received 2400 more replies in a year.
And that was in journal!
Are you able to make use of leverage in your business? Of coursework you can. It works for every kind of product or service. All you require to do is keep testing, experimenting, leveraging...
...And, banking extra funds every day.
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