Posts Tagged ‘entrepreneur’

How To Get Free Radio Advertising – Part 1

Thursday, April 19th, 2012

Most business owners recognize that advertising is essential to their business. However, in spite of knowing this, most business owners dislike advertising because it is dreadfully expensive. The trouble is that if you do not advertise, only your friends and neighbours will ever get to hear of you.

For instance, in our average sized town of 65,000 inhabitants, there are thirty-eight pages of builders in the Yellow Pages; each page has two columns and each column lists forty to fifty names on it.

These small businesses dream of TV and radio advertising like the big companies, but it is just too costly or at least they think that it is. Colossal companies such as Coca Cola and MacDonald’s expend hundreds of millions of dollars on radio and TV advertising, but small business have other, smaller opportunities to advertise locally.

One of these cheaper, sometimes even free, ways of advertising on the radio is ‘per inquiry’ or PI Advertising. This is a type of radio advertising that is very beneficial to the advertiser, because advertisers only pay for every inquiry about their advertisement. It is a little the same as Google’s ‘pay per click’ or ‘PPC’ advertising on web sites.

First of all, you will require a list of all the radio stations in the area that you are interested in. You can get hold of a list of licensed radio stations at your local library or they can get one in for you.

Then copy out the names of all the stations in your target area. It is usually best to begin with your own area and fan out from there, but if you have a precise target audience, you will have to some research first.

Next you should look through your list of radio stations and mark the ones that are of interest. For example, if you are selling skateboards, it is probably not worth advertising on a Classical FM music station.

The next step is to contact the manager of the station or maybe the Advertising Director. Explain your plan to that person in detail. it could go something along the lines of:

“I have a product that research has shown will sell well in your catchment district if it is advertised on your radio. However, I want to do a test run before committing to any long term advertising plan”.

“I will do all the writing of the commercial and I will do all the book-keeping. I will send the product out and I will handle any complaints and returns quickly and efficiently”.

“You will derive xx% of every sale we make. You take the phone numbers of the inquiries, pass them on to me and I will regard every name you give me as a sale for you. The product I want to sell is a xxxxxxxx, which retails at $xx plus $1 postage and packing”.

This concludes ‘How To Get Free Radio Advertising – part 1’, in the second part, we will be looking at how to secure your free, on-air, radio advertising campaign. Please look for part two on this web site.

Owen Jones, the author of this piece, writes on a range of topics, but is now concerned with Bose Radioss. If you would like to know more, please go to our website at Bose Digital Radio.

Selling A Business In Difficult Times Is Still Possible

Saturday, March 3rd, 2012

Selling a business can still be achieved even when the financial state of the country is perhaps not quite what it used to be. It does not have to be as tough as you think because as long as you take the right approach then you should still be able to get it sold however the price you get may be lower than it would have been a few years ago.

One thing you really must do is your own research into the other businesses that are currently on the market but look at not only the price they want but also how long they have been on sale for. This will then let you see the kind of price you may end up needing to ask in order to have a chance of getting it sold at some point.

It used to be that working out the price often involved taking your turnover and profit and then putting a calculation against it and this would then give you a figure. This multiplication should not be used at this moment in time because quite simply it gives a figure that is too high and you will not have any chance of getting someone to pay it to you.

It should therefore be pretty clear that making sure you have the correct price is very important when selling a business and even more so in times like these. You do not however want it to end up too cheap because then people start to wonder why it is so low and this can also then put them off going ahead and buying as they think they cannot make money.

Make sure that you get it listed in as many locations as possible as this is going to clearly increase the number of people that come across your listing and perhaps check it out. You will find that there are websites that specialize in these listings however do also look at general classifieds as well or even consider getting a company to help you out.

These companies do often prefer it when there is some kind of building with it as they tend to be commercial property agents along with some surveyors. There will be fees involved in this however they do actually market everything for you and this can make a huge difference when it comes to being able to get a buyer.

The final thing to do is to consider approaching someone who currently also has businesses along the same lines in order to see if they are looking to expand. They may then be attracted to what you are doing, especially if you are a competitor, but this will once again go back to the price issue discussed earlier.

So it should be quite clear that selling a business is indeed entirely possible even at times like these where money is hard to come by. It just means you have to put in some more work on your side and make sure the price is right so people are then drawn in to the idea of buying it from you.

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