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Ideal
Marketing Methods for Home-Based Businesses
By
Vishal P. Rao
What
is the difference between a small business that makes it and
one that does not? Most likely, the one that was successful
engaged in some effective marketing. Wise marketing is critical
for owners of home-based businesses for a number of reasons:
1.
Marketing keeps you ahead of the competition
2. Marketing brings you a steady stream of revenue
3. Marketing provides leads for future sales
4. Marketing helps increase awareness about your business
Marketing
is not something you just jump into, however. It requires careful
examination and evaluation. Not every method, after all, will
lead to the benefits mentioned above.
When
it comes to selecting the methods you use with your business,
remember to keep in mind your target audience and your budget,
then start narrowing the list of possibilities. You may also
want to try a few of these marketing methods which have been
proven effective for other home-based businesses:
Affiliate
Programs
Almost
all home-based businesses can work with an affiliate program.
With this type of program, you recruit other people to sell
your products/services and reward them with a percentage of
the revenue (usually 3 to 10%).
The
mechanics of these programs works like a restaurant franchise.
Because your recruits are now associated with your company's
name, you want to be sure that they are maintaining your standards
of quality and professionalism, so many affiliate programs include
ready-made web sites, sales materials, and more.
These
recruits then attempt to make sales on your behalf. The benefit
is that all of their marketing efforts (beyond what you provide)
are not part of your business's expenses, and they have the
potential to reach new segments of potential clients and customers.
Giveaways
This
type of marketing is one of the most popular with all businesses
and can be handled in at least two ways: free gifts with a purchase
and/or contests.
You
have probably come across ads or web sites that sell e-books
or other products and offer a number of free gifts with the
purchase of the product. The lure of freebies helps people make
the decision to purchase. You can do the same thing with your
product or service. Keep in mind that whatever you offer as
a free gift should be inexpensive to produce so that you don't
lose money on the deal.
Contests
can also be quite effective if done creatively. For example,
if your business was selling e-books, you could hold a contest
with the grand prize being a free copy of one of your top-selling
e-books.
But
what about second place? Many people don't realize that there's
no rule or law against giving a prize to every person who enters
your contest so why not reward all of the other people who entered
with a significant discount on the price of that same e-book?
Many of those second place winners will take the discount and
make a purchase.
Search
Engine Optimization
If
you do any business online, an important part of your marketing
efforts should be search engine optimization or SEO. SEO essentially
means that you tweak your site so that it appears near the top
of search engine results for certain keywords.
Generally
this involves repeating those keywords frequently and placing
keywords in headlines, meta tags, and introductory paragraphs.
While it may sound easy, most businesses turn their SEO efforts
over to professionals. If bringing an expert in fits your marketing
budget, you may want to enlist their assistance.
Referral
Reward Programs
Another
type of program aimed at bringing people to your site is a type
of referral reward program. During the Internet boom, many sites
had these type of programs which paid a few cents for each person
who visited a site from a link listed at your site or through
some other means.
Now,
however, they simply are not as popular, but they can still
be beneficial. Instead of offering a cash reward, allow your
customers to earn your products/services by referring new business
to you.
For
example, you may want to offer a free e-book to customers who
refer five new customers to your site. These new customers may
have to make a purchase, join the referral reward program, become
a member, or sign up for the newsletter. People will do a great
deal if the reward is right.
Whether
you elect to use one of these marketing methods or choose one
of your own, the key is to test its effectiveness. Try it out
for awhile and see if the results are satisfactory. If not,
return to the drawing board. If so, then implement it on a larger
scale. With careful planning and testing, your business will
experience the benefits of marketing firsthand.
----------------------------------------------------------
Vishal P. Rao is the owner of Home Based Business Opportunities
- A website dedicated to opportunities, ideas and resources
for starting a home based business. He also runs the Work at
Home Forum - an online community of folks who work at home.
----------------------------------------------------------
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