Advertise For Success

Advertise For Success

Marketing gurus as well road side vendors know that value of good advertising. It won’t be an exaggeration to say that Advertising is what makes a business successful. Every industry and professional takes help of advertising to make people aware of their products or services. Be it a real estate agent, Shoe Company, fast food chain or a superstore, all invest heavily in advertising.

You must have noticed that some companies with not that great product or services are successful and very popular. In fact there are other companies which are selling similar and many times better services/products but are not that successful or have not caught the imagination of clients. Have you ever wondered why Pepsi or McDonalds’s are such popular brand regardless of the fact that the products are not exactly top of the line? The answer lies in their marketing and advertising.

Advertising is the key to any business’s success. Whenever a company cuts down on advertising budget, a dip in sales and revenue is slow seen immediately. This is the sole reason why you see advertisement all around you. Every second of the day we are bombarded by advertisement. Switch on television, you will see constant stream of ads. Go to watch a movie and you will see product placement. Listen to radio and advertisements are there also. Websites are also filled with ads vying for your attention. While driving you will see billboards everywhere – buildings, buses, streetlights. Every imaginable place is fit for advertisements.

Even if you won’t be able to afford to a BMW all your life, you know about it latest series. All thanks to advertisements in T.V. or magazines. You may probably identify lot of products just by their logo just because you see their ads throughout the day. Some of the most recognizable logos belong Coco Cola, McDonald’s, Nike, Google, BMW etc. All have built up their brand image and recognition by incessant advertisement on all forms of media.

For a budding Entrepreneur Advertising is even more important. S/he is a new entrant in the industry with no previous background, almost zero brand value and no recognition. For success, an entrepreneur has to undertake a publicity campaign to make the target audience about the products and services. Advertising can be in many forms. At the most basic level, it may mean flyers, brochures and business cards. Business cards can be a very cheap and effective form of advertising. Give out business cards to as many people as possible. Same steps for the flyers and brochures. This should be a continuous process. Let everyone know about your business. Other forms of advertising can ads in local magazines, sponsoring a local event, hoardings etc.

Advertise For Success

One newer method of advertisings is the internet. Banners and text links on websites can be very effective in bringing more customers. Google AdSense is one such popular adverting method. The bottom line is advertising is a never ending cycle which needs to be conducted consistently and diligently … Read More

How to Counter Recession

How to Counter Recession

While everyone lament shortage of money during recession, one sure shot way to be financial comfortable is often not heeded. The way is to reduce the expenses and needless purchases. The expenses may include foreign trips, home makeover or any new gadgets. Any purchase that is not essential and can be put off should be put off for the future when the cash flow is much better.

For most people, these times are trying and hard. The economy is not going to get better anytime soon and in fact, we may see a double dip very soon. So while government does it part to manage economy, we can help ourselves to make our lives tad easier in this downturn economy.

1) Love your Job: First casualties in recession are new jobs. Companies stop hiring new recruits and in fact lay off many jobs. At this time the best job is the job you are holding. So, stay put where you are working right now and work hard. Banish any thoughts of finding job in any other company and cement your position in your current job.

2) Cost Cutting: Cost cutting is just not for corporates. You too should avoid lifestyle purchases like new smart phones, laptops, play station etc.

3) No new Loans: Do not make any purchases which mean new Loans. New cars or house are a strict NO when there is no job guarantee. EMI may mean additional strain on your budget. In a scenario where you can be laid off or you may face salary cuts, this is suicidal.

4) No Risky Investments: This is a time for conserving your resources. Do not invest in risky avenues like equity. Only invest considering your risk appetite. If you are in a business, then hold off your business expansion plans. Slow market may mean that you won’t get returns soon or as expected.

5) Insure yourself: Even in downturn you need health and term Life Insurance Plans. Make sure that in your absence, your family can live comfortably without any fear of future. One basic rule is to have a minimum of 12 times the annual income as life cover in a term plan.

6) Continue SIP: During the recession, the stock market also will be low. This is the time when you can get best shares at cheapest prices. Keep faith in SIP to minimize your loss. Do not stop systematic insurance plans as you will loss the advantage of cost averaging. Cost averaging has two facets – buying more when the market is low; growing all when the market is high. We buy more units for the same investment, as the units of the mutual funds at a lower NAV (Net Asset Value). By stopping the SIPs we loss out at the buying more stage. This will also mean that you lose out during grow-all stage as you will not have adequate units in your hands for them to grow.

7) Learn: During downturn, it’s the survival … Read More