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There are so many different ways of marketing and promoting your business today. Here's a variety:
Newspapers advertising - local, national or international
Magazine advertising - consumer, business or trade
TV advertising - cable or network channels
Radio advertising - local or national channels
Poster advertising
Yellow Pages advertising
Tele-marketing or tele-selling
Field sales force, on the road
Obtaining referrals from existing customers
Direct mail campaign, using mailing lists
Direct response marketing
Website presence
Pay-per-click advertising, including Google Adwords
Search engine optimization
Email marketing
E-zine advertising
Affiliate program, for on-line promotion
Getting publicity, with a PR campaign
Without doubt, almost all of these involve up-front costs, sometimes substantial. And unless your company is very good at testing-and-tracking response rates (very few are), you're likely to waste a large part of your marketing and advertising budget.
Joint ventures allow you to access resources which you don't possess - for example, another company's valued customer database - and to be in a position to leverage off that resource, for mutual benefit - quite often for zero up-front costs. You get to conserve valuable cash and to be able to use this cash for other ways of expanding your business.
Alternatively, you may be able to access higher-margin products or services, which you can offer to your own customer database, for a share of the profits.
To discover how to quickly grow your company: |
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