Tuesday, November 30, 2010

Start Your Own Advertising Business

Interestingly, enough, there are opportunities for you to start your advertising business. Read the remainder of the blog entry for my ideas.

I think that as more business make use of these types of advertising services, and as these advertising services start to build up, the market will be begin to saturate. That means that your advertising business will have to come up with new ideas.

I can envision a special advertising service that focuses on very local businesses, such as businesses only in Surrey, BC, or only in New Westminster, BC. Those types of businesses might be very useful to the market, but the businesses of the area may not be able to compete with the trendy businesses of Kitsilano or downtown Vancouver for the advertising.

Another idea is to advertise new businesses in town.

Another idea is instead of only advertising 1 business per day, you could try to have a list of businesses that clients can browse through, with occasional emails highlighting specials as they happen.

Another idea is to have the same business model, but to just have great customer service skills. Those other companies are not automatically nice to deal with, so there is an opportunity there, but bear in mind, that established companies that are not nice to deal with are still very hard to compete against.

Another idea is to be more flexible with the people that you are advertising for. Some people might need advertising but might not qualify as a business [e.g. authors and their books; inventors; singles looking for a date; travel partners; orchestras advertising their concerts; orchestras looking for band members; artisits].

Another idea is to use a different medium to advertise. Instead of only doing it via the internet, maybe you can use paper. Do people still use paper? What about fortune cookies? Are there are great deals that could be advertised via fortune cookies, that will make people want to look? What about creating a show where the prizes are just advertised products? Creating a show is a bit difficult for mere mortals, such as you and me, but it is important that we start brainstorming.

Here are a couple of contrasting details. With traditional advertising models, you had to connect your clients to as many people as possible. In this newer advertising model, you are focusing on smaller markets, and focusing on reducing risks for the people that you advertise to and for. With the traditional model, there would be an abundance of ads, that usually would waste people's time. In this newer advertising model, you are giving them a bit at a time, to not overwhelm them.

The concept of risk is worth defining. The people that you advertise for will want to make sure that they get back enough business to pay for the cost of the campaign. The people that you advertise to will want to make sure that they are getting quality offers every time they look at your ad. Therefore you need to be clever enough to find a way to meet business needs and customer expectations. If 1 group is not happy then everybody loses.

An important thing to bear in mind, is that while you can target the poorer neighbourhoods, you should always think about how to target rich people. They are the only people who have tons of money. If you can find meaningful ads that rich people want to see, then you can advertise higher priced products and services, which means more income for you.

I hope that helps.

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