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You Must Understand the Buying Habits of Your Consumers

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  • Stone Evans - The Home Biz Guy
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      Article Title: You Must Understand the Buying Habits of Your Consumers


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      Article Title:
      You Must Understand the Buying Habits of Your Consumers

      Article Author: Stone Evans, The Home Biz Guy

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      You Must Understand the Buying Habits of Your Consumers
      Copyright � Stone Evans, The Home Biz Guy
      http://www.Home-Business.com



      No business can survive the long run without some form of
      consistent advertising. As a result, most business owners will
      eventually consider using advertising to promote their business.

      The toughest part of the advertising equation is in determining
      where and how to spend your advertising dollars. If you do it
      wrong, you could plunk down your entire advertising budget and
      receive absolutely no return on your investment. But, if you do
      it right, your advertising could continue to bring a nice return
      for years to come.


      HOW DO I MAKE THE RIGHT ADVERTISING DECISIONS

      In order to make good decisions concerning how to spend your
      advertising budget, you must first have a good understanding of
      the different types of advertising and promotion available and
      what can be expected to be achieved by each.

      � You must understand which markets the different media's can
      reach.
      � You must understand the demographics of the media's
      consumers.
      � You must understand the buying habits of the consumers
      reached through the media.


      WHAT OFFLINE ADVERTISING & PROMOTION MEDIA'S SHOULD BE CONSIDERED

      The media's that people think of most often are television,
      radio, newspaper and magazine advertising. Of course, these are
      the big boys that big businesses use regularly.

      Other methods of promotion include trade shows, press releases,
      direct sales, telemarketing, word of mouth, branding and
      billboard advertising.


      CONSIDERING THE BIG MEDIA OUTLETS

      The big boys of advertising media's generally cost big bucks.
      Given certain circumstances, the big media's can be bought for
      very little money.

      Take for example, television, radio and newspapers cost big
      bucks during their prime times, but can be bought for pennies on
      the dollar during non-primetime hours.

      Television primetime is between 7pm and 10pm. Radio primetime is
      between 7am and 6pm. With newspapers, the primetime is
      Wednesdays and Sundays.

      If you intend to hit a media during prime time, get ready to
      drop some bucks. Primetime means that you will be able to hit
      more consumers during these times. So, in most cases, a
      primetime buy will enable you to reach more people with your
      advertising.

      Non-primetime hours can still deliver a lot of eyes and ears to
      your message, and sometimes, these off-hours can be bought for a
      bargain basement price.


      GETTING MILEAGE FROM EVENTS

      Trade shows and press releases are more event-driven. The trade
      show is the event, while the press release generally exploits an
      event.

      Trade shows are an exceptional tool when you deal directly with
      potential sellers of your products or services. Other shows are
      directed at the consumer, and those can be very valuable avenues
      for sales as well.

      The press release is aimed towards gaining attention for a
      business by distributing newsworthy information about the
      business.

      Sometimes the appearance of a business at a trade show or other
      show can provide the necessary angle for a press release. But
      most often, a successful press release will actually require
      more noteworthy information than the appearance of a business at
      a show.

      Yet, even the most mundane of information could be spiced up to
      give the real air of importance necessary to get your press
      release read and printed.

      The great thing about a press release is that might permit you
      to get relatively inexpensive promotion on television, radio,
      newspapers and magazines; for far less than what it would cost
      you to buy advertising in those same outlets.


      UTILIZING A SALES TEAM

      Depending on what type of business you run and the consumers you
      are trying to reach, you might find direct sales and
      telemarketing to be very lucrative ways to drive sales to your
      business.

      Both are very similar in nature. Direct sales can be very
      expensive, as it requires a great investment of time to
      accomodate. Telemarketing seeks to minimize the time
      expenditure, but it often leads to a smaller degree of respect
      and attention.

      Depending on your product or service --- and always depending
      upon the people you employ to the task --- each method will be
      more suited to each business on an individual basis.


      BRANDING YOUR BUSINESS

      I grouped branding and billboard advertising together in my
      original list for a reason. I did this because billboard
      advertising serves most businesses best by helping to support
      the process of branding.

      Branding is the process of establishing your business as the
      supplier of a certain product or service, or in emphasizing a
      certain USP (Unique Selling Proposition) as it pertains to your
      business.

      If branding and USP seems to be a confusing concept, think about
      Wal-Mart and their tag line: "Always Low Prices, Always."

      Think about Ford Motors, "Quality is Job One."

      Think about the Visa Card, "It's Everywhere You Want To Be."

      You see, these top corporations have managed to make their USP
      part of their branding.

      Even if you are only competing in a local marketplace, your USP
      can and should fit snugly into your branding strategy.


      NO MATTER THE MEDIA OR METHOD

      Whichever method or media you should choose to employ in your
      advertising and promotion, you should become knowledgable about
      your market, and the consumers reached by each media. It is
      important to understand which consumers can be reached by a
      certain media, and in what quantities.

      However you choose to spend your advertising dollars, you should
      always track the results of your promotional efforts. Failing to
      track successes and failures will ultimately lead to the failure
      of a business.

      When you know whom you are trying to reach and how you think you
      might be able to reach them, you will begin to learn how to use
      advertising and promotion to make your business successful. That
      is a good thing --- after all, that is why you got into the
      business in the first place, isn't it?



      About the author:
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      Stone Evans owns the Home Business Resource Directory where
      you can find everything you`ll ever need to start, run and grow
      a home based business at: http://www.Home-Business.com
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      To read more articles by Stone Evans, The Home Biz Guy:

      http://www.home-business.com/nav/articles/

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