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Author: Cara Lumen
Article source: http://www.articledeshboard.com/. Used with author's permission.
Oh brother, yet another place to advertise just showed up. How on earth am I supposed to choose? Exactly how much "cost of doing business" can I afford?
You know, it's funny, but if we came into business from a non business background we may not fully understand that there is an underlying outpouring of investment in both time and money that simply has to be there. It is the cost of doing business.
Don't skimp on your foundation
I knew not to skimp on my foundation. I got a professional designer for my web site, I gulped when I signed up for my great shopping cart because I got the professional version with digital downloads and an affiliate program. But after all, we need to think big and act as if it were so in order for it to happen. Besides, I only want to lay this strong foundation once. Then I'm going to keep building.
There are some things like good phone equipment for coaching calls, and computer software that allows you to maintain a professional look or record audio books. Those are the investments that keep on giving.
Keep learning
Another investment that keeps on giving is the cost taking classes. I've taken courses in product development and site optimization, podcasting and radio publicity. And I keep getting on the many free calls that abound. Yes they are always selling something but they give away great information too. And I read. Not just books, but blogs and e-magazines. I love to learn and then I have fun passing my discoveries along to my clients.
When to draw the line
I have been collecting marketing strategies that don't cost much or any money. Yes, I have to invest my time and energy, but they are free and with a touch of creativity they are very effective.
As I contemplate a possible marketing opportunity that would cost $1000 a year I am tempted. Their sales page is strong. I know a lot of the people who are already listed there. Then I do a reality check. How much of my products and services will I have to sell through that one source to 1) break even and 2) make a profit?
But here's what came up for me. 80% of our sales come from 20% of our list. So is my time best spent being certain I have the most compelling sales pages I can possibly write and that I have given my affiliates the strongest tools possible so we can both prosper.
What reaps the greatest benefit? What results in the most opt ins, the most sales? You may be better off cultivating people 1:1 if that is your style. You may need a television or radio ad if your business requires it. The only way you can sell anything is if people can find you. So how are you creating visibility? That's the point of your marketing investment.
Measure what works
After you lay your strong foundation and have a powerful web page and a compelling opt in offer, look at your own natural talents and choose your marketing strategies from that. As you do, keep track of the results. How many people signed up for your emagazine this year? How many after the last issue? How is your article campaign working? How are you cultivating your relationship with those already on your list? Keep doing what works, and drop what doesn't.
Strive for high impact with low investment
Be creative, be innovative. Keep looking for new ideas and how you can adapt them to further your own business. Invest where necessary but there are a zillion ways to keep your cost of doing business down.
©2007 Cara Lumen
Cara Lumen, MA, The Vision Distiller, is a Guerrilla Marketer who helps you discover your infinite possibilities for success and take your vision to the world. Her specialty is internet marketing and signature product development. Through her Magnetic Marketing Method she teaches you to creatively establish a profitable presence on the internet with a minimum investment. Learn how you can become a Success Magnet at www.caralumen.com
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