Advertising: Keep your eye on the big boys

In advertising, promotion, and business strategy in general, you can try several different approaches to see which works best. This takes time and money, because you’re likely to fail in some of your efforts. And you run a serious risk of not succeeding at all. One way to reduce your risk and point your business toward success is to copy what your successful competitors are doing.

Consider: A big, successful competitor that has been in business for many years has very likely made a number of mistakes before identifying what works and what doesn’t. So watch carefully what your competitors are doing. If you see or hear advertising that continues for a long period of time, you can conclude that it’s generating business for the advertiser. It’s highly unlikely that unsuccessful ads are run over and over again.

By paying attention to what your competitors are doing – especially the bigger ones – you can take advantage of their experience. After all, why start building your marketing from zero when much of the structure is available to anyone who’s paying attention. It’s wise to keep a file of competitor’s ads, mailings and other printed pieces. See what they’re selling, what they’re doing and how they’re doing it. Copy what works. Avoid what doesn’t.

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One Response to Advertising: Keep your eye on the big boys

  1. Joao says:

    Great ideas, and as a (new) small business owner, this website I stumbled upon by watching a 3 minute youtube video by Bruce J. Bloom, on how to make a sale in 20 seconds.

    Thanks

    Joao

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