(Quickbooks accounting) Advertising that Doesn’t Pay
No commentsBy Mason Hinton
Is your business bombarded by sales and other marketing professionals telling you that the products or services they are offering are in the best interest of effective and cost reducing methods to market your organization? Finding your way through the maze of offers, opportunities and avoiding potential money pits highlights the importance for all businesses regardless of size to have a strategic marketing plan that is implemented and followed.
It is a tough market place for any small business and information is the key to making wise marketing decisions and for the survival of any business or organization. The relevance of a strategic marketing plan can not be under stated. It is unfortunate but all to common that people under the disguise of professionals in marketing and sales will boast their products and services as the most effective and cost reducing methods to market your business. Additionally, by writing articles or giving lectures for example, they attempt to give their claims a form of legitimacy. Beware of people making extraordinary claims, a true professional wants to sell you their product or service but also retains the integrity to learn your business and knows when the product or service is not a good fit. The benefit for this type of sales or marketing professional is your loyalty and trust in future business transactions.
A strategic marketing plan helps a business to avoid potential money pits that waste valuable marketing dollars in expenditures that may appear to cost less but have minimal or no measurable results. Simply because something may cost less and other businesses are participating does not make it a solid marketing decision for your organization and certainly does not guarantee successful results. Regardless of the ticket price if it does not produce measurable results and drive business to your establishment it is a money pit.
There are many good examples on the internet of people under the disguise of professionals boasting their products or services as sound marketing advice. One of these claims is that a business could inexpensively build brand recognition through the purchase of low cost promotional items with the organizations name or logo embossed on them; items such as pens, tablets, calendars, magnets, and much more. The problem is that this technique offers minimal to no measurable success in brand building, but more importantly does nothing to draw new customers into the business.
In terms of simple math, if an advertising business were to spend the same money that would be spent on embossed promotional items in traditional media channels such as print, radio, or television for example with an expected 2% rate of return and a minimal exposure of 12,000 individuals gives the advertising business the opportunity for 240 customers for that expenditure. If only 30% of the 2% actually make a purchase that provides the business with 72 new transactions. A business can multiply its average transaction price by 72 to see the real potential income from this one marketing expenditure. Another benefit is brand awareness that would be gained through the advertisement and the opportunity to build customers for life. Furthermore, to entice repeat business and brand loyalty the organization can offer its customers coupons. This method promotes customer appreciation and can be a low cost marketing method.
Moreover, with any marketing expenditure a business should always perform a cost benefit analysis in correlation with its strategic marketing plan. Simply, if it does not offer measurable results, drive new business, and build brand awareness it is a money pit.
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Follow the Yellow…Tape
By Mason Hinton
You would have seen barrier tapes everywhere, on the road, in a TV episode, at public events, and other places. The barrier tape has almost come to stand for a crime scene, as popularized by TV.
A barrier tape marks out a restricted access area - probably some police actions are going on inside the barrier tape limits, or a fire is being put out inside the lines, and so on. You will notice that the tapes are usually printed with warning messages telling you not to cross the line.
Not only do barrier tapes warn people not to cross the line but they are also frequently used for business promotional purposes. These tapes are highly visible, are located in public places, and are wide and long with eye-catching colors. All these features make them ideal real estate for company promotional messages.
If your company executes outdoor works such as road repairs or any type of construction, you would want to utilize the barrier tape real estate for brand building and business promotion.
Barrier Tape for Brand Building and Promotions
Barrier tapes come with eye-catching designs, attracting attention. They are also usually made of materials that lend themselves to quality printing. A company logo, name and short promotional message, printed tastefully on the barrier tape, can help the company make itself and its products familiar to the numerous passers-by.
And that is what brand-building means, creating awareness, associating itself with quality, telling the world that it is executing major works and generally getting into the consciousness of people.
Barrier tapes are also used at different kinds of outdoor events and campaigns. Just find a tasteful way to use them, and then use them in a way to create brand awareness.
Barrier Tapes
Made of strong and durable material like vinyl, polyethylene, polypropylene, woven cotton or woven plastic, barrier tapes usually come in widths ranging from 50 to 150mm. They might come in standard lengths or in custom lengths as specified by you.
The barrier tape has to attract attention and hence use colors and patterns that stand out among its surroundings. A pattern of alternating red and white, or black and yellow, colors is widely used as standard. Plain white and yellow are other typical colors. The plain-colored barrier tapes are particularly suited for printing.
They can come in special dispenser boxes or as shrink-wrapped rolls and are packed so many rolls per carton.
With the many different options available in the market, you can select a pattern that stands out from the crowd, with quality-printed promotional messages.
Conclusion
The barrier tape, with its attention catching design and public location, is a highly visible media for business promotional messages. Companies can use these tapes at their worksites, outdoor events and campaign venues to draw attention and convey awareness about themselves and their products. A quality-printed logo and name on the barrier tape can help build the company’s brand. If erected at a worksite, the message comes to be associated with the fact that the company has major orders in hand, and is successful.
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Forex Basics: Lots and Pips
By Bruce Shaw
If you are new to Forex, no doubt you are confused by all of the strange and unfamiliar terminology. For example, what is a pip? Also, you are probably already aware that Forex trading can be risky. How can you limit your loss and best protect your funds? This article briefly covers how currency lots are traded to help you better understand how to plan your trading strategy and manage your funds.
In Foreign Currency Exchange (FOREX), earnings are expressed in “pips”. Pip is short for Price Interest Point, also called points. Whereas the smallest denomination in USD is the penny ($.01), in Currency Exchange, funds can be traded in an even smaller denomination, $0.0001. This means that very small movements in currency prices can create large profits.
So, a PIP is the smallest unit a currency can be traded in. The actual value of a pip is not a set price. If you are trading with a standard account, a pip is worth $10. If you are trading a mini account, a pip is only worth $1.
The value of a pip changes based upon the size of your account, because the size of your account affects how much currency you can leverage. A standard full size trading account is 100,000 units of the base currency. If you are trading in USD, a standard account has a value of $100,000 USD.
A mini lot is 10,000 units of base currency. If you are trading mini lots, you can leverage $10,000. This is why a pip in a mini account is worth less than a pip in a standard full sized account.
While Forex trading allows you to leverage more funds than you actually have, this can be a double edged sword. While you can make profits on funds that you leverage (rather than own), you can also have losses amplified as well. There are several ways, however, to manage your risk when trading Forex. If you are interested in trading Forex, you should have a definite trading strategy. You must educate yourself to know when to enter and exit the market and what kind of movements to anticipate.
You can also place something known as a stop loss order. Stop-loss orders the typical way traders minimize risk when placing an entry order. A stop-loss order to exit your position if the currency price reaches a certain point.
If you are taking a long position, you would place the stop loss order below current market price. For a short position, you would place a stop loss order above current market price. This technique allows you to manage your risk and, just as the name suggests, stop your losses at a certain point.
As you can see, Forex trading can be complex, but once you understand the basic fundamental principals of how lots are traded, its starts to come together for you. Foreign Currency Trading can be quite profitable and and exciting way to invest.
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Sunday, February 28th, 2010 at 5:25 am and is filed under business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
