Wednesday, April 1, 2009

Opportunity Knocks, Will You Answer

As we endure the 16th month of the current recession there are many opportunities and decisions that are uniquely apparent. As a Sales Rep for Press Pass it was a timely decision to re-establish the Press Pass die cast brand by bringing back the traditional 1:80 scale Tractor Trailer. Known as the flagship collectible to sports die cast enthusiasts, the 2009 tractor trailer will be clearly marked with the date on the rear panel of each truck. Although this may seem insignificant to many casual fans, the die cast collector will have the opportunity to continue display their cherished yearly collectible that originated in 1989 with White Rose.
This seemingly small change along with the re-introduction of the NFL car with card gives both collectors and retailers a great opportunity. Sports die cast can be to a retailer what the familiarity and emotional security of comfort food offer to today’s consumer. Press Pass’ die cast line offers both collectible and play value as well as two attractive price points that most value conscious consumers will consider affordable.
As we all re-examine both our personal and business spending patterns, it is crucial to make sure your business’s marketing and promotional dollars are well spent. Here are six cost effective methods of promoting your business that may offer a good return for the resources that you have to spend.
A. E-mail marketing: An effective e-mail marketing campaign costs very little and has a much higher response then direct mail marketing. Ask for customer e-mail addresses and specific interests. Classify and manage this information effectively for a low cost, high return campaign.
B. Create a presentation on the hobby that is appropriate for community groups, schools, summer camps or any organization that might want a speaker with an interesting topic. Use any type of media you are comfortable with including Power Point, sound, video or samples. This tool can be an effective way to promote your business by attracting new collectors.
C. Pay per click internet advertising: Although this can be expensive, you have the control to limit keywords, clicks per day, and the money you spend. The other advantage to this method is the ability to track every unique visitor to your website and see if you are getting your desired return.
D. Social Networking: This exploding category is only limited by your knowledge of the applications available. Whether you are “tweeting” about the 2009 Chicago Bears Tractor Trailer or you are creating a business profile on Face book or My Space. Do not ignore the opportunity that message boards, blogs, forums, and other social networking web sites present.
E. Remnant Space Advertising: As ad revenues drop precipitously now is the time inquire about the unsold space or air time from various media outlets. Be sure to check appropriate sources for your business including national and regional magazines, radio, newspapers, and television. Remnant or excess advertising inventory can sell for 75-90% off of line pricing.
F. Public Relations: Have you reached out your local library to participate in the kid’s summer reading program? Consider holding “non-traditional” events at your store or business to attract local, national, or even international attention. These events could be anything from a blood drive to a collection for your local food bank. The opportunity comes just in time as nonprofit groups around the country are reporting a surge of interest in volunteering as a rise in unemployed workers meets an increase in human need. All you need is a few new loyal customers from these events to make your efforts pay off.
There are two notable examples of how investment in previous economic downturns has paid off. Many conventional thinkers would have been happy to invest in a dotcom during its peak in 1999. In fact the best time to start a technology based company was in 2002 after the huge downturn when the price of starting a business including real estate to programming talent was lower. Finally there is the famous example of John D. Rockefeller Jr. who was charged with spending his father’s fortune. In 1931 construction began on Rockefeller Center. At the time this was seen as privately funded public works project. The building was completed in 1946 and over 75,000 were employed in its construction. Needless to say the investment has paid off as Rockefeller Center still maintains its place as pre-eminent building in the city that never sleeps.

Benjamin Goldman
Senior VP Operations
National Sports Associates

2 comments:

ZZBoy said...

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sam heurry said...

Nice posting, thanks for sharing with us. Your blog is great and helped me feel better knowing about the press pass. Thanks again!