I closed my interiors store over 20 years ago but have been entertaining the thought of starting a new small low overhead business to keep me busy in retirement. Advertising and marketing costs and strategies are always one of the first things I find myself considering.
When I had my store we averaged about $1,000 per month for an advertising budget. Most of the time this would barely pay for itself but when we considered that we were building a clientele it seemed to average out ok. I always like to go back and think of one particularly successful add that was a huge success and a total accident. One of our outside contractors was a wall paper hanger and remover. She asked if we would run an add in the Penny Saver for wall paper removal. The deal was we would field the calls and set up her appointments and in return she would show our wall paper samples. The add cost about $15.00 per week. I had similar arrangements with several of my decorators so it was not an unusual request. As it turned out folks who were removing wall paper were generaly getting started on a complete redecorating of their homes or at least particular rooms. The add got us into the home at the right time before they had started shopping. It also got us in touch with our ideal target customer. By far the most successful add I had ever run at just a small fraction of the cost of my other campaigns. For lack of a better word I have always reffered to this as indirect advertising. Since that time I have always used this as an example when trying to create a model for various other projects I may be working on, sometimes successfully and sometimes not. I can't help but wonder. Is their a name for this type of strategy? I wanted to do a bit of research on it but can't really find anything.