Online Advertising
With a soft economy, companies have more of an incentive to advertise online than they did before. Traditional avenues of advertising like television, newspapers, and magazines are struggling with fewer viewers, subscribers, and buyers. The internet however, with it’s many free sources of entertainment and media actually gain in audience during the recession. So, while companies are advertising more in this media, there should be a greater opportunity to make money in advertising online.
Fine-Tune Your Advertising Strategy
Just as your competitors gear up their campaigns online, you also need to check out what strategies are going to work best for you. One way may be to hire a good copywriter to beef up your sales pages or to provide the right psychological triggers for buyers who want to buy but may be a little hesitant to spend right now. You may want to see if there are places you can monetize your websites with other people’s advertisements to bring in some additional income. If you decide to do a joint venture, make sure that any advertising copy that you provide to your affiliate partners for your own affiliate program comes with the training that tells them how to make the most effective use of it. In a recession, the competition can be fierce for the consumer’s dollars and advertising is going to give you an edge.
Keeping Up With The Jones’
We’ve all heard about “Keeping up with the Jones”. In the marketing world, this is a little different. In reality; the Jones’ are really your competitors. Just because they are your competitors doesn’t mean you have to avoid them. Use some of their knowledge to your advantage. Sign up to some of their affiliate programs or newsletters. In this way you are aware of what promotions your competitors are promoting and how they are using their advertising to entice their subscriber’s to buy. Try to learn from what your competitors do and then raise the bar by being even more innovative and creative.
Pay Per Click
It may not be fun or glamorous, but understanding the difference between pay-per-click, pay-per-lead, and pay-per-sale and how much of each you want to implement is important for optimizing your advertising revenues. You may even want to check out cost-per-action networks to see if they provide more money than the traditional product-oriented models. You can expect the area of advertising to become even more creative as marketers attempt to provide flexible and innovative options in a tough economy and you want to be in the front lines of that action.
Attraction Marketing
Attraction marketing is by far the most cost effective method of lead generation. Not only are the methods free or very low cost, they also insure a list of loyal subscribers to you, not to any one product or service you may be promoting. This method does take time and effort, but the effort is well worth the result and does get easier as your experience grows. A key component of attraction marketing is the value it provides to others. This value can be presented by various methods including eBooks, ezine articles or videos. Whatever method is used, the result is people coming to you, wanting what you have to offer. This loyal following is what makes your business recession proof.
If you have an interest in attraction marketing, but are not sure if it is for you, then I would recommend the Renegade University as a way to try it out for free. There are over four hours of step by step video training and resources for you to use with no obligation.
An investment in knowledge always pays the best interest – Benjamin Franklin
Success in all your endeavors
Fred Villareal
