What is the Best Way to Boost Your Profits?
When we think of “Profits” the first words that usually come to mind are words like “revenue” “income” “returns” “earnings” etc. In other words, we think about the money coming in.
But it’s even more important… no, it’s CRITICAL… to think about the money going out!
Yes, profits are determined in large part by the money being spent, how it’s being spent, where it’s being spent, and whether it’s being spent to maximum advantage.
Consider your advertising budget: now we all know that, as the saying goes “you have to spend money in order to make money” and it’s never more true than in the case of advertising.
Every savvy business owner knows the importance of advertising! Why, you could stand on the street corner ready to give away $100 bills to all who will take them. But if no one knows you’re there, you won’t get a single taker.
Likewise, if your potential client doesn’t know that your business exists, he will never spend a dime at your business, no matter how good your offer, no matter how much he wants or needs the goods or services you’re selling, nor how willing he is to pay for them.
But every business owner’s advertising budget is limited. So to maximize profits, it’s necessary to spend wisely, to put your advertising dollars into those media that produce the maximum return… the maximum profit… for the dollars being spent.
And above all you MUST track all of your advertising to know what’s effective and what isn’t… to know where your money is being well spent, and where it’s being wasted.
So… how are YOU spending your advertising dollars?
Are you running high priced ads in your local telephone book Yellow Pages?
I hope not. Because if you are, you’re at best spending your money in a way that’s not maximizing your profits, and at worst you’re just throwing your money away!
Why?
Well, just ask yourself “When was the last time I looked in the Yellow Pages to find a local business?” I’d be willing to bet that it’s been so long ago that you can’t even remember.
Know where the Yellow Pages end up?
But why then, do business owners still take out ads in the Yellow Pages?
It has to do with mindset. As human beings, we more or less tend to resist change… some of us more than others, but everyone to some extent. And the truth is there was a time in the not too distant past when the Yellow Pages were effective!
But the Internet has changed that. In fact, the Internet has changed just about everything in modern society.
Newspapers: fewer and fewer people read them. They tend to get their news from TV and from the Internet. Partly for that reason, print media ads are becoming less effective than before.
But they still cost an arm and a leg! And business owners still buy them. Again… mindset!
TV? The advent of the TV remote control allows users to change channels to avoid watching commercials. And most people do. I know I do… how about you?
Yet, advertisers still spend, and spend BIG (we’re talking thousands here) on TV ads. Again, mindset!
So… let’s get back to our original question…
What is the Best Way to Boost Your Profits?
The best way to boost your profits is to CHANGE your MINDSET!
That is, to understand and accept the reality that traditional advertising methods are become less and less effective, and in many cases, no longer work at all.
The best way to boost your profits is to make certain that your advertising budget is being spent in such a way as to deliver the most bang for the buck!
If you’re throwing your money away on Yellow Pages ads, and other traditional advertising methods that no longer work well (or not at all!) then it’s time to move your advertising into the 21st Century!
In today’s world, the key to successful marketing is to take advantage of the Internet and Mobile marketing. In both cases, you put your offer in front you your prospective client at a time when he is most receptive. That is, at a time when…
…HE is looking for YOU!
And if you’ll do that, you’ll get a flood of new clients to your business… and a flood of profits that come with them!
But that’s providing that they find YOU before they find your competitors.
And we can help with that.
Give us a call for a free, no obligation consultation.
Local: 513-828-6200
Toll Free: 888-832-0711
Talk with you soon.
Ben Hanania
P.S. In business as in the natural world, the KEY to survival is ADAPTATION!
Some of your competitors have already embraced change and begun putting their advertising dollars into 21st Century marketing methods… because they WORK!
Don’t get left behind. Give us a call today and let’s discuss your business, and see how we can boost YOUR profits!