What is the 5 mile rule? It is a rule that says you should not spend advertising dollars in any market outside your 5 mile radius.
The 5 mile rule applies to many types of businesses. Why? Because people want to purchase locally. They don't want to drive 2o miles for insurance when there is an insurance company 2 miles down the road. If you were to plot your customers on a map, you will find that at least 85% of your customers do not travel more than 5 miles to get to your business. So, why would you spend advertising dollars over 5 miles away? You shouldn't. You should advertise locally and make sure that you're not wasting dollars on trying to get people to travel to your business. I use this rule in my own advertising and when I advertise for my customers. This is a great advertising "rule of thumb" because it will save advertising dollars. If you think of the distance that you would normally go to the bank or other retail shops that you frequent, chances are, nothing is over the 5 mile mark. There are a few exceptions, but not many. It really depends on the type of business you have and whether you can talk your customers into traveling.
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Everyone who starts a business should know the value of a ribbon cutting. It's an opportunity that should be relished and fertilized so it will make your business grow. It is an occasion that you actually get to talk one on one with people. There is not better platform to talk about your business.
There are a few things to think about when preparing for one. Below is some basic information for how to prepare and what to do to make it a success. 1. Give yourself plenty of time to promote it. The suggestion is 6 to 8 weeks out. This will give you plenty of time to have stuff printed and organized for your event. 2. Scheduling can determine how many people actually show up. Try to schedule your event Monday through Friday and right at the end of the day. That way people can hit it on the way home from work. Also check your local city schedules and the local chamber groups to see if there are any other events scheduled on that day. You don't want to schedule your event in conflict with another event. 3. Happy Hour is always an attractive after work offer. Many people like wine or beer after work and what there is no better way to get people to stay a little longer. Also, it's called "happy" hour for a reason and you want your business to be associated with "happy." There are some exceptions. There are some businesses that would show bad etiquette for serving alcohol, so use your best judgement. 4. Food. Have food, any kind of food. Small bites, sandwiches, a dish or snacks. It doesn't matter. People want to eat with their happy hour. 5. Invite everyone & know who's there. Invite your friends, family, co-workers, competition, all the businesses around you, people you know, people you don't know....invite everyone. This is an event that will be more successful with more participants. Make sure you have a sign in sheet so that you know who attended. After the ribbon cutting you will want to thank everyone for coming. 6. Have giveaways. People want to be entertained. Give them something they can talk about. Give away something you offer. Have other businesses give away stuff so that they also get exposure. Partner with a non-profit and do a 50/50 raffle. 7. Have helpers. Make sure when you are inviting people you have you key spots filled. Who's going to bartend, who's going to handle the 50/50 drawing, who's going to make sure the food in replenished. Your job is to get to know everyone in a one on one environment. Don't waste it by not being available because you have to get more wine. 8. Make your business clear. Make sure you have signage and that people know what the name of your business is. Have samples of what you do or a way of presenting what you do. 9. Take pictures. Have someone take a few pictures. Make notes of who are in the pictures. That way when you send in your press release, you have pictures to accompany it. The articles submitted for publishing with pictures have more of a chance to get published than stories without. 10. Market your event. You can advertise your ribbon cutting in a print ad or on the radio. Also, print invitations and give them to everyone. People will only know to show up if you invite them. If you're starting a business, one of the first things you'll need once your name is registered, is a logo. A logo is the mark or symbol that you use to identify your business. It's a way to brand your business. Some people use words, others use a mix of graphical elements and words.
We design logos on a regular basis and we have a few rules that we go by. Although sometimes, we end up outside our rules, for the most part, these are great guidelines to use when creating a logo. 1. Readable. There are literally thousands and thousands of fancy fonts that could get you distracted. Make sure when your logo is complete, you can read it, both up close and at a distance. You do not want it to become a blob. 2. Make it reflect your business. If you sell socks, make sure you can see that in your logo. Make your logo speak more than just the name of your business. 3. Make it easily read at 1 inch. If you reduce your logo to one inch, can you still read it? You would be surprised how much you need your logo that size. And I have seen several where there is a giant initial and the name of the business very small below it. When you reduce it, the name of the business disappears and you only have the giant symbol as an identifier. 4. Make sure it looks good on one color. I know, we live in a full-color world. But, realistically, you don't want to pay full color for everything. Are you going to pay for full color printing of pens, shirts, caps, and any other promotional items? No, you are only going to want to pay one set up fee for one color for your promo items. And your one color doesn't necessarily need to be black, but it should definitely look clean and clear in black. 5. No clip art. Illustrations are easy, there is no need to grab a piece of clip art that someone else is already using. If you desire a symbol, have your designer come up with something original. 6. Research your competition. Take a look at the trends in your industry for logo design and come up with something different. Don't do what everyone else is doing. Make your business stand out with something original. Hire a talented designer who can help you come up with something amazing. 7. Spend the damn money! This is a big one. Your logo will set the tone for all of your marketing. So invest in a good design. Work one on one with a designer. Explain what you're looking for and what makes your business special. A good designer will take your conversation and tune it into some rough ideas. Then you'll be able to move forward from there. Also if you're designer doesn't get it on the first try, don't get frustrated. Talk it over and tell them what you like and dislike. Then have them come up with different ideas. Logos are a process than take time and consideration. You want to talk to people about it to get their perspective. It should take you at least a week or two to come up with something amazing. Some even take longer. We as designers want you to be happy with our ideas, however we also understand that not everyone thinks alike and sometimes we need to go back to the drawing board! Who says the USPS is done? Well they have come up with a great survival tool. It's EDDM, which stands for every door direct mail. This is a great tool for service type businesses. Lawn maintenance, cleaning companies, cable companies, etc... Anytime you want to reach a specific area in it's entirety. What is the difference between regular direct mail and the EDDM? Well the EDDM does not work off of a mailing list, so that cuts down cost right there. Since the most expensive part of a direct mailing campaign is the postage. What you do pay for the service is a fraction of the postage you are used to paying. So printing the flyers and paying a fraction of the postage, sound pretty good.
The service is easy. No need for a permit number. All you do is go to www.usps.com and sign up for an account. Go through the system and pick out where you want to advertise. The great thing about this is you can pick a specific area and dwindle it down to what you can afford. They list the number of residential and the number of businesses in that route. You just pick which ones you want to be delivered, and you're ready. There are a few forms to fill out and you need to bundle your pieces, but other than that, it is super easy and affordable. The other great thing about this is that there are size requirements, which are a little bigger than the postcard, but it will only help you. The bigger and more colorful your piece is, the better return you will get on your investment. There are also a few graphical assets you will need to have, so make sure when sending your artwork to be designed, you let your designer know what specifically needs to be done. EDDM is just one way you should advertise your service business. For others, please call Digital Ink at 863-269-9593 or email us at cs@printdigitalink.com. We can help you distinguish your business from your competition. There are several different opinions on what makes a great print ad. I am a believer in simplicity with a simple, straight forward message. A message everyone will understand and that can be read at a glance. Below is an ad I ran over 10 years ago. It's a good example of a simple and appealing advertisement with a single point. Headline Make a catchy statement that will grab the reader's attention. Image This will be the first thing a reader will notice. One single, attractive image. Since this is a shoe ad, this is appropriate. If possible, show people using your products or services. People will then identify with them and you will get more out of your advertising dollar. Your point Too many price points will cause confusion. You want a single point in your ad. Logo & Contact Because it would be crazy not to add this. Of course, everything you do needs to contain your place of business and your contact information. Or you might as well just throw your cash out of a moving car. This is a topic that has perplexed the printing industry for years. OMG 5,000 cards for $20! Thats crazy. It sure is. And in the printing industry you will get what you pay for. And if you pay crap prices you're going to get crap product. You may get 5,000 cards to hand out, but they are going to be of thin stock, have color irregularities throughout the run and probably have the printer's logo on it. Is that the impression you want to give about your company? Absolutely not! You want an impression of integrity. When you hand your customer a piece of your company, you want that customer to know that your company is worth investing in. They desire confidence in your business. And handing them a crappy, flimsy card is no way to go about it. And today, printing has changed so much it is not necessary to do do that anymore. The price difference isn't that great between quality and quantity. You can still get a professionally designed business card, full color for under $100.00. And that is a minimal business expense to promote confidence, wouldn't you agree? That goes for more that just your business cards. That goes for brochures, presentation folders, everything you're going to put your name on. Give your customers confidence. Print your materials professionally and with the right designer. I know I do not have a bunch of readers, but I would like to share the most amusing videos I have ever seen on a business card below. Please take a look, it is fabulous. http://www.youtube.com/watch?v=4YBxeDN4tbk Our current business card is to the left. It is printed on a silk laminated 14 pt stock with spot UV. You cannot see the contrast in the background and the shine here, but you can request a card to be sent to you by going to our contact page. I will be glad to send one out right away. Presentation folders are a great way to make a first impression. They not only come in a huge variety of shapes and sizes, but you can get them custom made to your specifications. Which makes it a wonderful way to show a little creativity. You can get very original with die cuts.
Die cuts are custom metal shapes designed for cutting paper (and other materials). Usually when you have a custom folder shape, they are made specifically for your project, so there is an additional charge. So custom folders are more expensive. But I say, make sure you get exactly what you want, even if you have to pay the additional expense. There are many types of materials to use. Thousands of beautiful papers. Now there are a variety of inks to choose from. Folders can be embossed, printed with metallics. The sky is the limit. It really depends on how you and your designer choose to use your budget. The inside pages should reflect the design and materials on the outside. You want the entire package to be cohesive down to the business card. Folders are usually pretty expensive so there are a few ways to get the most of your budget. Go with higher runs. Low runs will run you $1 or more a piece, but if you get into the 1000, 2500 or 5,000 quantity range, you can really bring that number down significantly. What you need to do is get the most out of your higher runs. Do not put dated artwork on them.Also no contact information, that is for your business card. You want to put the minimum amount of words on them so that there is less chance you will need a reprint any time soon. I would suggest a nice full color folder with just a logo. And make sure you get the business card slits. That way when numbers, website or anything else changes, you won't have to get your folders printed, just your business cards. And those are cheap. Networking is a very important part of getting your business going. One of the best ways to maximize your network is to volunteer. Not only is it the right thing to do, but people who belong to organizations look out for one another. It's a congregation of people who actually care about other people.
Right now is a great time. 'Tis the season for volunteering. But, don't make it a seasonal thing. Make sure you really get involved. Just paying yearly dues will not work. You have to actually get out and talk to those folks and spend time together. And what better way to do it than to help others. If you're a business genius and can help other people with their businesses, then maybe you should belong to the chamber of commerce in your area or an organization to help small businesses. There are many different types of charitable organizations for human services, environmental services, animal, arts, culture, religious, educational, the list goes on. Volunteer. It's good business. QR Codes, also known as portals, are a tool that will change your business forever. Over 40% of adult mobile phone users have smart phones. With all of the apps available, you can get a tremendous amount of information immediately. Information is literally at your fingertips.
Japan has used portal technology for years, but within the last few years, they have been popping up all over and I am starting to see them on marketing materials everywhere. And I will tell you why. Portals can direct interested customers to a URL, phone number or text. So they can take you to any information you can place on a web page, immediately call you or to a text. Social media pages, special offers and coupons, instructions, videos, and most importantly; your contact information are all at the click of a button. Portals are free to register, although there are several services that will gladly take your money to set them up. Portals are also completely trackable, so you know where your marketing dollars are best spent and where to save. You are able to create your code and log in to check your statistics and reporting, and the results post immediately. It is much better to know the response of your advertising than it to be a guessing game. The portals can be tracked and reports can be downloaded in different formats, giving you lots of helpful information. Let's not forget, that if a person is interested enough to scan it, you already have their undivided attention to get your message across. So make it a good one. Used as an electronic business card, they are invaluable. And electronic business cards have a 40% more response rate than a traditional paper card. That is because it is a lot easier to have the information electronically stored than to try to remember where you physically put someone's paper business card, hoping it didn't make it to the washing machine. Designers have gotten quite creative with the portals and there have been gallery shows featuring portal design. The few I have here I threw together for the purpose of this article, but I encourage you to research other ideas. Some of them are amazing. If you have a design, please share it with us. I love to see what other people come up with. One of the most important parts of a business is gathering your customers contact information. The more you know about your customers, the easier it will be to provide them with a product or service they need when they need it. No matter how small your business is, gather the information. Gather it any way you can. It should be entered into a database and used regularly.
Even if you're a small boutique retail business, use creative ways to gather the information. A drawing for a gift certificate or other item is a wonderful way to get it. If you your customers are engaged in a questionaire you should take full advantage to get additional information you have always wanted to ask. It's important to know exactly where your customers live, work, lifestyle, etc. The more information you know about your customers, the easier it is to communicate with them. The basic information you want is: name address phone With this little bit of information, you will immediately know where most of your customers live, be able to do a direct mailing to them. You will be able to call specific customers when new product arrives. And finally an email marketing campaign with photos and a special offer that will remind them why they love doing business with you. Sure you can purchase lists. But the lists are not your customers. Having your customers information is more like having the true essence of your business. That is a concentrated list of people that already trust your business. People like to use a business they trust. |
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