Tuesday, 24 September 2013
How To Cut Advertising Costs And Increase Profits Simultaneously
Imagine this.
You've just had the most pleasant guest at your hostel.
She stayed a few nights, has already referred all her friends, and has literally purchased all your other services (rented a towel, a lock for her luggage, washed and dried her clothes with you, and more).
After she left, she made you wish you had more services to provide.
And when you think back, you realize that she was the most pleasant and most profitable guest you've ever had.
So can you possibly ask for even more profits from future guests like her?
Definitely.
Let's think back for a moment.
How much did it cost for you to acquire this customer?
Now, what if we were able to lower this cost by 10%, 30%, 50%, or more?
It might not seem possible, but it is. And it can mean a lot to your hostel's profits and asset value in the future.
But the problem is that most hostels can't even tell you how much each customer costs to acquire. Even worse, they probably have no clue whether a certain medium is even working or not.
If they do, they can't tell you exactly how well each medium is doing.
Ignoring this type of data is like burning money!
So what exactly must you know?
Just two simple things.
The costs it takes to acquire each customer (for each medium) and how much profits that those customers deliver, on average, in return (for each medium).
Think about that for a second.
If you knew how much each customer was worth in profits to you, you would know exactly how much you'd be willing to spend in each medium for you to still remain profitable.
It truly is simple, but so many owners are bleeding money because they simply overlook this crucial information.
But knowing these two key numbers can help you focus on the most profitable areas for you to reinvest your money.
It truly is like finding hidden treasure.
And there's even better news.
Like I said before, most owners simply don't know how well a medium is working for them. For example, do you know your conversion rate for booking guests over the phone?
Probably not.
However, you should know this. You're paying for that phone line. And each time that phone doesn't get answered (or it gets answered ineffectively) you're paying for that in costs or a loss of a customer.
So what can you do?
You can develop a "winning" script that constantly converts customers over the phone reliably. Let' say it converts 6 out of 10 calls into guests.
Plus, once that script churns out predictable results each week, you can simply test a new word, sentence, or entire script to see if you can beat that conversion rate.
That wouldn't lower your costs per call. But it would significantly reduce your cost to acquire a new customer.
Think about it.
If you're now converting 8 out 10 people over the phone when you were previously only converting 4 out of 10 people... you're now earning more profits from the same amount of phone expenses.
It's not brain surgery, but thinking about lowering your costs to acquire a new customer for each medium and how to leverage more profits out if it can truly be a game changer!
And again, this can be applied to any advertising medium.
In fact, if you're using pay-per-click (PPC) advertising you'll clearly see how improving your click-through rates (CTR) on your ads will significantly reduce your cost-per-click (CPC).
So take a look at your advertising budget now.
Look for where you can lower costs.
Then take a look at what's working and how you can improve those conversion rates. And from there you'll suddenly find "hidden treasure" waiting to be dug up.
Start today and you'll soon discover there was much more treasure than you realized.
Want more profitable strategies?
At Hostel Hacks, Paolo provides more of his award-winning and unique marketing strategies to increase your profits in any economy.
Experience the results for yourself... before your competitors do.
Copyright 2013 Paolo Garcia
Sunday, 22 September 2013
Digital Printing: Changing the Marketing Landscape Forever
In the past if you wanted to market your business, product or service you were heavily reliant on television, radio and print marketing techniques. Today, things are changing and there are technologies available to you that will change the entire scope of marketing and how you can get your name and business information in front of people who may be interested in what you have to offer.
Digital printing is something that is really taking off, because it can be used in so many different ways and is cost effective and the time that it takes to create marketing materials on any level is much less than it was in the past. You probably have seen digital printing advertisements and not even been aware of it.
There are many different applications that you may see and that you may find that your company can utilize for the betterment of your business all around. If you would like an advertising option that will allow you to advertise whenever you are on the road, you should look at vehicle wraps. This is a relatively new application of digital printing and it is one of the most effective ways to market your business. Your vehicle is essentially your billboard when you choose this option and you can have it on your vehicle for as long or short a time as you would like. For as long as this type of marketing lasts, it is a great investment and will serve you well.
Digital printing goes well with vinyl applications. If you would like to market your business in a bright and colorful manner that doesn't involve your typical billboards, flyers and other options that involve paper and will not hold up well over time, vinyl applications are a great option. Your logo can be printed and adhered to just about any surface of your choice. This can be done in your office or in another space that you have available to you for marketing purposes. This will allow you to change up your marketing themes along the way for a relatively inexpensive price, and these can be small format as well as very large format, so you can get the attention of new and existing customers.
Digital printing can be used in just about any way that you can think of from banners, to signs, to vehicle wraps, fabric printing and beyond. The great thing about choosing to go digital with all of your printing needs is that they can be done large scale and they can be done very quickly as compared to older methods of printing. Marketing has become more convenient and much more flashy and noticeable with all of the options that digital printing has brought to the table. Whether you are just starting out as a business or you have been around for a while, you should take the time to look into these marketing options through digital printing to see how well it could work for you.
If you are searching for innovative and high quality printed products for a wide range of clients, including advertising agencies, architects, interior designers and more then Spice Digital Imaging is the perfect place to be. Check out this website spicedigital.net for additional details.
Design Tips To Have Successful Door Knob Ads
Gate hangers are often seen in hotels and other places of lodging as a way for guests to communicate with maintenance and housekeeping staff. However, they're also a powerful way to send out print advertising to houses and apartments.
Gate knob hangers are inexpensive, unconventional, and effective promotional instruments, which is why they are regularly used in guerrilla marketing strategies. By placing them on gate knobs - a location where residents and apartment dwellers don't usually expect coming across a marketing material - your message becomes essentially inescapable. They are possibly interactive, also. For instance, you can include a QR code to your design so the target customer can link instantly to extra information on the Web. Just like other guerrilla marketing activities, your goal in using a QR code on your door hanger is to attain the consent of your audience to send them more information rather than trying to make a sale. Since a QR code can connect to a webpage, you can provide more information instead of stuffing these onto your door hanger. It's also possible to include discounts, coupons, or special deals on your door hanger.
Although ultimately it is going to be the content of your Gate hanger and related online message that will drive response, it is the hanger's design that will drive people to look at the content. Therefore, it is crucial that you create well-designed gate hangers.
Design pointers
Create your door hanger in a way that your target client does not only see it easily from the far end of the porch, but that it can spark interest and make the client want to read what it contains. Make your door hanger easy to read by making use of sans serif font.
Make use of both sides of the gate hanger to be more effective. The back portion is a great place to add maps or directions to your place of business. Avoid adding too much information in your door hanger though. You can supply the rest of the sales pitch on the phone, on your website, or if the customer goes to your location.
Use vivid, striking colors to grab the attention of your target customers. If you want to make use of an image on your custom door hangers, be sure to select one that will reinforce your brand or assist in delivering your advertising message. To make certain that your gate hangers have excellent quality images and vibrant colors, choose a printing company that provides 4-color offset printing.
Door hangers are not only a tool for hotel guests to communicate with hotel personnel, it can also be used to advertise a product or service. Regardless of the product or service you wish to promote, a well-thought out design is needed for a door hanger ad to be successful. Custom door knob hangers are affordable, unconventional, and effective marketing tools, which is why they are regularly used in guerilla marketing efforts.
Friday, 20 September 2013
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