What they don’t tell you about starting a business…
Unless you have the money for a concerted quality advertising campaign in a proven media outlet, you’re unlikely to generate enough sales even to cover the cost of the adverts. And don’t even try to justify the expense as an investment in ‘raising awareness’ – it’s such a vague and unmeasurable objective as to be meaningless.
A young entrepreneur was tempted to pay for a ‘special offer’ – an advert and linked feature (also known as advertorial or paid content) in a quality local monthly magazine. She didn’t part with her hard-earned cash and, Instead, she got free feature coverage in the same magazine. A feature is more trusted than an advert so the editorial content should have generated a better response.
The feature generated… no enquiries. It could have been a costly mistake; she’d learnt that the chance of a particular reader needing the particular service she was offering in that particular month was very slim. It would have needed a costly year-long advertising campaign to have a reasonable chance of being seen by the right readers.
Any even then there would be no guarantee of sales.
For other Trade Secrets in this series, go to https://enterpriseessentials.wordpress.com/category/trade-secrets