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Why Should You Advertise?

“Why should I advertise?” This is a question many business owners find themselves asking. Advertising is essential for any business because it reminds your customers about your brand name and serves as a constant reminder. If people don’t know your company name, then how are they going to enter your door?

Being consistent with your advertising efforts is the key – you’re setting your business up for both short and long term success. The following 8 tips are powerful reasons why advertising is a must.

You Have To Advertise To Reach Your New Customers

The market is constantly changing. New families moving into the area potentially mean a new customer base for your business – or even your competitions. Consumers’ income levels are always changing, which results in changes in needs, lifestyles, and buying habits.

You Must Advertise Continuously

Customers do not convey the same store loyalty they once had. Cars have allowed shoppers with more freedom and flexibility. Brick-and-mortar stores suffer from this the most. A quote that sums this all up; “mobility and non-loyalty are rampant. Stores must promote to get former customers to return and to attract new ones.”

Advertising Influences Shoppers Throughout The Buying Cycle

People often compare prices, service, and quality from store-to-store. They want the best deal and are looking for value. By advertising, you reach them consistently through the entire decision-making process. Take this example; the average new car purchase is a 13-week cycle. You must keep your name fresh in the consumers’ mind and constantly remind them that you are there. Consistency is key.

Advertising Pays Off In The Long Run

By advertising today, you are essentially planting a seed in the mind of customers whose buying decision may be weeks or months away. Advertising gives you a long-term advantage over your competitors who scale down or stop their advertising efforts.

Advertising Generates More Store Traffic

What would be the point if nobody had a reason to come into your store? Continuous store traffic is the first step to increase in sales and expanding your customer base. A general rule of thumb is that for every 100 items shoppers plan to buy, they make at least 30 unanticipated “in-store” purchases. This is where point of purchase displays are extremely powerful.

You Have To Advertise To Generate More Sales

Advertising does work. Successful businesses are almost always persistent, strong advertisers. Look around – you will find the most aggressive and persistent advertisers are almost always the most successful.

There Is Always Business To Generate

As long as you are in business, you have overhead costs to meet and new clients to target. Advertising generates customers now, and for the future. You are essentially planting a seed. Even the slowest days produce some kind of sales.

Legitimate Home Based Business – Is There Really Such a Thing?

You already know these are tough economic times don’t you? You’ve probably already toyed with the idea of starting a business at home to provide some extra cash and a little security in case your full time job goes away. But you’ve also probably seen all the get rich quick obvious scams which leave you wondering if there actually is a legitimate home based business that you could get involved in.Well the short answer is yes there is. Nearly 50 million North Americans are running home based businesses either part time to provide a little extra money each month or full time. When you think home based business you almost automatically think internet, and that’s not a bad place to start, but there are other avenues that may be better suited to you as well. The business that has the best chance of success for you depends greatly on what you expect from the business and what you can afford in terms of time and money to invest in it.Think about that for a moment. Why do you want the business? Is it just a stop gap measure to get through a tough time or do you want to start and build a regular income stream? If you’re working today, how much time will you be able to devote to the business when you get home from your day job. Do you have any background in running a business? Do you have a particular skill that you think is valuable? Every legitimate home based business has costs. What’s your budget for this venture?The answers to these questions will determine what kind of home based business that is best suited for you. Let’s take a look at two of these opportunities. 1. Internet MarketingWithout question this is the most popular route that many people take. The idea that you can make money simply using your computer is very attractive. It is also the favorite target of scammers who have taken the old scams of stuffing envelopes and assembling parts at home and given them a new spin. The message is the same however. No skill involved, lots of money, and work from home. Avoid these like the plague.Internet marketing has an extremely low financial threshold. You can get into it for nothing or next to nothing. However, in the beginning you should also expect nothing to next to nothing in revenue. There is a learning curve in internet marketing and that’s where most people make mistakes, spend a bunch of money, and simply quit too soon.On the flip side, for those who persevere there can be really huge financial rewards.2. FreelancingIf you have a skill that people will pay money for, then there is probably a demand as a freelancer. If you have a technical skill, writing skills or administrative skills there are sites that are dedicated to matching up freelancers with companies looking to hire. This is another viable legitimate home business that can bring in some extra money with your spare time.The competition is stiff and you have to learn how to market yourself with compelling proposals, but if you can land a recurring deal you’ll have a nice steady source of income. Freelancing is great for people who are uncomfortable with all the complexities of being an entrepreneur. The downside is it is common for freelance jobs to be paid less than what you might think is the going rate.There are several other legitimate home based business opportunities but this should give you an idea of what to look for. Just know this; every business requires some skill level and actual time on the job. Successful home based businesses are the result of solid, smart work.

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Differences in the Types of Auctions That Take Place Around the World

Auctions are those events where properties or goods are sold to the highest bidder. Auctions are mostly public events, where bidders make a series of bids and purchase a particular item for a high price. During auctions, bidders decide the price of an item rather than the seller. It depends on bidders to decide the amount they would want to pay for a specific item. During an auction, a bid is a proof of a legal binding. Bidders agree to pay the amount that they have bid. In a high profile auction, bidders may have to pay a deposit in escrow accounts or give a proof that they can pay for those items.

Types of Auctions:

Different types of auctions take place around the world. Below mentioned are some types of auctions:

1. English auction:
This is a basic type of auction. In this type, people can see the item and then start bidding. Bidders slowly raise the value of their bid until everyone gives up. The highest bidder is the winner. An auctioneer manages an auction, keeps records of the on going bid and decides the winner. Sometimes, the seller will quote a minimum amount for an item to the auctioneer, below which the auctioneer cannot sell that item.

2. Dutch auction:
In this type, the auctioneer sets a particular price and then gradually lowers the price. People in public will start bidding and later decide which prices are suitable for the item. A seller may use this type of auction to sell large quantities of same products to the public. For instance, a seller may want to sell a large amount of hay and will thus, decide to sell this hay to people for the same amount, once a reasonable price is decided.

3. Silent auction:
In this type, the bidders in public will present their bids in a sealed format. These sealed bids open at the same time and bidder with the highest bid wins. There could be a modification in this type of auction. The bidders are allotted a specific period to bid. They can roam in a room displaying the items, and write their bids on an associated sheet of paper. The bidders are allowed to see bids of other bidders and can choose a higher price for an item. At the end of the allotted time, bidder with the highest bid is the winner.

Examples of Auctions:

Auctions can be of two types either public or private. Sellers may trade any kind of items in both types of auctions. Some areas where auctions take place are:

1. Antique auction: An antique auction consists of a trade opportunity as well as provides entertainment.

2. Collectable auction: In a collectable auction, the seller may put up collectables like coins, vintage cars, luxury, stamps, real estate, and luxury for sale.

3. Wine auction: In wine auction, bidders can bid for rare wine, which may not be available in retail wine shops.

4. Horse auction: Bidders can bid for young horses of the best breed.

5. Livestock auction: In livestock auction, bidders can buy pigs, sheep, cattle, and other livestock.

The other examples of auctions may not be public. These auctions are for bidders from corporate levels. Some examples of private auctions are:

1. Timber auction
2. Spectrum auction
3. Electricity auction
4. Debit auction
5. Environmental auction
6. Auto auction
7. Electronic market auction
8. Sales of business auction

Bidders in an auction need to examine the items displayed and decide an appropriate price for an item. Thus, auctions help buyers in getting the best deals and in gaining better profits for sellers.

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