For my husband’s brokerage business he has traded his services for $7,000 worth of radio advertising. He was thinking of having them interview him or a recent seller that used his services. How do you advise we use these radio marketing dollars?
First of all he was smart to barter. I always recommend small businesses barter their products or services to get any kind of advertising – radio, print, online, in-store, etc.
Since his consulting business involves business coaching, instead of an interview where he is asked general questions about what he does, I think it would be better if he took questions from listeners/small business owners, sort of what I am doing here. It is a good way for him to show his expertise and that is more likely to lead to future business for him. Not sure how far the $7,000 will go, but if he could do a 10-minute Q&A every Friday at the drive home hour, say for the month of September, that might be a good lure for listeners and benefit the radio station as well.
Otherwise, instead of spending the money on ad time (which would also mean you have to create an ad, which can be costly), you could simply ask the radio station to say your company’s name in various sponsorship type announcements. For example, “Today’s weather is brought to you by BDM Consulting. If you need business coaching or are looking to buy or sell a business, visit them at BDMconsulting.ca.” You can sponsor traffic reports, local entertainment news, whatever they have an opening for. This could get your name heard several times a day, and repetition in radio is always a good thing.
I hope that helps!
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Here are the hard facts about having a successful business. THERE IS NO MAGIC SECRET. Anyone who tells you there is, is lying. If you expect success to come quickly and easily, you might as well stop now.
8 Key Ingredients for a Successful Business
You have to truly believe that your business will be successful. It doesn’t matter if anyone else does, it only matters that you do. Negativity and doubt breed negative results.
You have to work hard. I don’t know anyone who is successful and didn’t have a long, hard road getting there. Expect to invest endless hours in your business, especially in the beginning. But once you have a steady customer base and a good reputation, things will come easier.
You have to be patient. Nothing happens overnight, and you really don’t want too much success too quickly if you are not prepared to handle it. That can hurt your business. So set goals you wish to achieve daily, monthly and yearly and see those as a measure of success to stay motivated.
You have to be willing to change your strategy. I am constantly reminded of the famous quote, “Stupidity is doing the same thing over and over again and expecting different results“. If your current marketing efforts are not working, why keep doing them, try something else.
You have to stop comparing your business to other people’s. I get this a lot. Why is this company that does the same thing I do, so much more successful? It could be a variety of reasons. First to market always helps. Maybe they have a large friends and family referral business. Maybe they had a personal contact at a major publication that brought substantial publicity. Maybe it’s just pure luck. Who knows for sure. Forget about them and focus on you. I have competitors, we all have competitors, but it is a large marketplace and you can carve out your own niche.
You have to take the professional advice you are given. I have a lot of clients who come back to me asking why they are not getting results, only to find out they did not implement all the tactics I suggested, probably because they are hesitant to change (read #4 again). The truth is, you are not objective about your own business as you are just too close to it. So if you pay for professional advice trust what they are saying to do and do it.
You have to invest in your business. Whether it is consulting services, advertising, graphic design, SEO, and so forth, you have to spend money to make money. If you are not willing to invest in your business, you are not serious about it.
You have to not give up. Failure is part of being successful. Everyone fails, the difference is successful people keep trying, they don’t give up.