This week, we thought we’d give you something a little different: instead of recommending the latest, we’re going back to the oldest tricks in the book. Do radio ads still work? Flyers? Networking?
They worked once, but our expert accounting team have delved deep to figure out if they still work today.
The answer? Not every business will fit every solution.
So, our bookkeeping champions have put their heads together to see what traditional marketing methods still work today.
For your business.
#1 Should You Still Be Networking?
Networking is the original marketing method – there’s no question about it.
But is it still all about who you know, and not what you know?
Well, we looked back at our one hundred and fifty years of combined experience to find the answer.
And it’s safe to say: for most Aussie businesses, networking is still the number one method of financial growth.
Although it may come across as intimidating, networking can open up your business to a wide range of opportunities and collaboration. This is especially so if your business is service based or operates on returning customership.
But if you’re selling products (like retail) or operating in the hospitality sector, then networking can still work for you. Networking can help put you in contact with experienced professionals and specialists (or even investors) who could help your business.
One positive side effect of networking consistently is that it will dramatically improve your people skills – regardless of your starting ability.
Whether you like it or not, being a business owner means you must also be your own top salesperson!
Does it still work? Absolutely!
#2 Do Flyers Still Work Or Are They Merely A Nuisance To Some?
Flyers are perhaps the most contentious item on this list.
Very rarely do businesses still opt to use flyers in this day and age, but does that necessarily make them a bad marketing choice?
The answer remains rather ambiguous: it’s all in how you execute the positioning of your flyers.
For example: standing in the middle of a shopping mall and beckoning to nearby passerbys could see them actively avoid you at worst. At best, they could potentially throw your flyer out once they’ve turned the corner.
Flyers have unfortunately garnered a rather unpleasant reputation.
Many people consider them to be annoyances if the content is not relevant to them.
However, flyers can work particularly well for certain niches.
One great example of this is the events and live entertainment industry. If you’re promoting a market, festival, on-stage show, or even a gallery, then flyers can work extremely well.
In fact, for businesses of this niche flyers may still be one of the best methods of increasing brand awareness and retaining customer memory well after the event.
Does it still work? For certain businesses.
#3 Can TV & Radio Ads Still Make A Difference?
TV & Radio Ads have long been considered by many business owners to be outdated and ineffective – but does this theory hold up today?
The thing with TV & Radio ads are: they could be wildly successful or a total waste of budget – you just won’t be able to tell in most cases.
Because modern day marketing channels – like Facebook or Google ads – have a mechanism called “Attribution”, you can clearly see exactly how many sales came from any digital ad.
TV & Radio ads on the other hand, have no such tracking function. You would have to be running no ads whatsoever, or have an incredible consistent baseline of inbound sales, to notice any difference.
On the other hand, there’s no denying that these types of ads are fantastic for spreading awareness of your business. Although digital TV viewership is steadily losing ground to streaming services.
Does it still work? Great for brand awareness…not so great for reliable, accurate sales
What’s The Best Choice For Your Business?
The good news is: there’s no wrong way to go about marketing your business. There’s simply more effective marketing methods to grow your business than others; and some of those still include more traditional methods.
Choosing the right one for your business can be tricky and especially so when you have to balance that decision against your cash flow and payroll budgets.
So why not reach out to our expert accounting and booking team today to help grow your business successfully!