How Much Should Small Businesses Spend On Advertising During Recession?

There are several factors to consider when determining your annual marketing budget:

First, the amount of money you spend on marketing should be directly related to the growth stage of your business. Is your business still in its infancy, or is your business mature and well-known? The stage of your business certainly impacts how much money you need to spend to promote it. What industry does your business operate in? Different industries require varying marketing investments to remain competitive. On that note, what are your competitors doing? It's important to maintain a level playing field at the very least.

Marketing experts generally advise, on average, that NEW BUSINESSES spend 10% on advertising and marketing the first year. After the first year , ad budgets should be around 5% of gross sales, on average. The 5% figure should be maintained indefinitely, even in good times. In slow, recessionary times as we're in now, advertising should be maintained, if not increased, according to experts. Many make the mistake of cutting back on advertising when business is slow, only to further in the hole. Recessions are actually a good time to advertise when competition is NOT advertising, thus, resulting in a stronger share of the market. In a recent survey, over 50% of small business advertisers said they plan to spend the same or more on the following: ONLINE ADVERTISING (including Coupons) - 69%, DIRECT MAIL (including Coupons) - 51%

Second, you need to plan what new products, services or enhancements you'll introduce to your small business in the upcoming year. Naturally, if you're launching a new product, you'll need to invest enough in the marketing of that product to raise awareness and recognition of it.

Third, you need to determine what business goals you have set. If you want to grow your business by a certain amount within the next year, you need to invest enough money in promotional efforts to help you get there.

Bottom-line, you should invest 5%-10% of your gross sales into your marketing budget. Make a plan and stick to it. Set aside a bit of your budget for opportunities that might arise throughout the year. Most importantly, use your marketing budget. It might sound like a great idea to hold onto that money during these slow times but just the opposite is true. Advertising can and will bring in that missing business and set you apart from your competition, which is NOT advertising.

For More Information on the recently -surveyed TOP 2 ADVERTISING MEDIA for SMALL BUSINESS:

http://www.YellowPagesCoupons.net ONLINE ADVERTISING
http://www.CouponCountry.com DIRECT MAIL MARKETING

Make an Impression That Sticks With Business Card Magnets

In the world of business, whether you are a mega corporation or a mom & pop venture, advertising is important. Fifty years ago, a colored, embossed business card with gold trim was a status symbol, similar to today's expensive signature cars. That merit card meant you were the very best in the business because you could afford the expense to manufacture the sales tool.

Recipients of these business cards, automatically put the businessman or businesswoman on a pedestal, as the best in their field of expertise. How else could they afford such an expensive card, if they weren't top-notched? And can you believe this, they handed me their deluxe business card! This made the receiver of the card feel special and flattered to know a "celebrity".

To produce those cards, compared to today's printing industry, was expensive, few could afford it, and extremely time consuming, which are more reasons why business cards were so coveted. You were somebody, if you had a collection of business cards. Those cards were hoarded, flaunted, and kept in leather-bound books.

Times have changed, and the archaic business cards are decaying in the local landfill. Once they touted greatness, now they are a dime-a-dozen, and anyone can get instant, professional results, on their home computer and printer. The cards are cheap, and everyone knows it. They are hurled into a waste container, without a second thought.

So why would you magnetize your business card? If they aren't cost effective, aren't you spending money fruitlessly? If I were an office manager, I would take my magnetized cards and place them on a metal surface, filing cabinet drawer or the metal back of the workstation, near my phone, making an easy access to the phone number. I don't like digging through an alphabetized circular wheel or rummaging through the phone book.

If I didn't have the capability, of putting important phone number's on speed dial, my hands-on, visible, "cheat sheet" would be a great stand-by. This enables more productivity. If I need a plumber, I have one at my fingertips. If I need a pest control company, I'm dialing. Magnetic business cards, perpetually and permanently advertise business services, providing you deliver good services! Most magnetic business cards are not filed under G, for garbage. Others who visit the workstation may ask about the magnetic card; if they need a service or are looking to purchase goods. The magnet could also hold up other important papers, like carryout lunch menus!

As an individual, I find it very handy to keep magnetic business cards on the side of my refrigerator. Again, it is a convenient and faster way to call to get an appointment for service or to purchase goods. Pulling out the phone book or finding my personal address/phone book is cumbersome and time consuming. Putting the business on speed dial is an option, but those numbers are generally reserved for family and friends. The magnet business card could also generate questions, if guests should see it. In addition, it could be used to hang up a child's drawing on the refrigerator or a quick call for Friday night pizza!

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3 Critical Ingredients of an Internet Business Plan That Guarantees Success

With the large amount of information that is easily accessible, your task of creating an internet business plan will only take a few hours today. Before the internet came into existence, people had to spend several days collecting information about the business, studying competition and gathering other details. Let us now consider some of the critical ingredients for this task.

1. Study similar or existing business
The best way to start your internet marketing business plan is by studying a similar business or an existing business in the same category. This will give you the major inputs required and also provide an overview of what contributed to the success of the existing business. Importantly, look at the page ranks of competitors, the keywords, how they have achieved the page ranks and in general take a peek into their activities.

2. Focus on the purpose
A plan for an online business is normally created to solicit support from sponsors or investors. Another objective of the plan is to help the entrepreneur engage in effective and thorough analysis. Both the purposes should be clearly and squarely addressed. Additionally you should also concentrate on issues typical to the internet. These will include demographics, tracking, payment systems etc.

3. Discuss the risks
Projecting a very promising picture in your internet business plan is easy. But an entrepreneur should be fully aware of the risks involved. Internet business has typical risks that are not similar to offline businesses. Hackers, computer viruses, technology challenges etc. should be discussed at great length for the entrepreneur and all other concerned to take stock and make an informed decision.

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