If you own a dollar store, one of the best moves to make is to place advertising and promotion at the top of your priority list. After all, your goal is to build year-to-year sales and profits for your business. A well thought out plan of action can be the cornerstone to achieving the sales goals you establish. Yet it doesn’t require a Fort Knox budget to reach your goals. It can be done with a limited budget when you take advantage of the opportunities that are there. In this article I present advertising and promotion idea when you own a dollar store.
Simply stating there isn’t enough money to support advertising and promotion is not an acceptable choice if you wish to grow sales and profits. Start by setting a budget for the advertising and promotion of your business. Your budget doesn’t need to be huge, but it does need to exist for the purpose of supporting growth. In today’s economic climate, investing to promote your business is even more important. Once you’ve set a modest budget, make your plans and then follow-through.
If you own a dollar store develop a list of your planned advertising and promotion actions. Break your plan into no-cost actions, low-cost actions and all other actions. Be sure you carefully test all of the actions you identify to actually put into practice. It doesn’t make sense to focus time and effort on free actions that contribute nothing to the growth of sales and profits. If money is involved it is very important to make sure you are spending wisely.
Focus on the low-cost and no-cost options first. This will help decrease your total investment marketing and promotion. Since little cash investment is required, plan to implement as many of these ideas as possible to maximize the results. As you begin to see a return from the no-cost and low-cost efforts begin to add actions requiring an investment to the mix.
Invest your advertising dollars where you gain the most leverage when you own a dollar store. Remember the highest cost actions may not be the most productive for your store. Select the very best options for growing store sales and profits. Select actions that target your local shoppers. It does little good to spend thousands on advertising that primarily focuses on potential shoppers hundreds of miles away. Remember also; prospective shoppers will need to be exposed to your store name multiple times before they are likely to take action.
To your success when you own a dollar store!