How to devise the right marketing mix to maximize profits

Business owners and managers are constantly looking for ways to maximize their profits. Often, marketing is an excellent means for this to be accomplished.

One way to maximize your profits is by devising the right marketing mix. This includes combining different marketing resources and tools in order to reach more customers and draw more business. For example, let's say your primary marketing focus is direct mail. However, because mailing lists can be expensive, you can reach more customers by combining mailing lists with something else, like flyers or cold calling.

Devising the right marketing mix
The following are some various marketing tools and how, when combined, they can help you maximize your profits.

Press releases
Press releases are a great marketing tool for a number of reasons. For one thing, they're completely free - you simply write one and send it to your local publications or news rooms. Another reason they are good promotional tools is because they reach a wide audience.

You can write a press release for a number of different things, such as the opening of a new store, the introduction of a new product, your grand opening, or participation in a charity event. Call your local newspapers and ask who to direct your press releases to, and then make sure you write a well-written, error-free release.

Flyers or mailers
You have probably received mailers mixed in with your bills and catalogs promoting a new business or have found a flyer stuck under your windshield wiper at some point. If you're like most people, you probably glance at them and throw them away.

If you do decide to use a flyer or mailer, don't just place them randomly. Do your market research so you can send them to people who are specifically looking for the services or products you provide. Make sure they are designed well and not loaded with text - a sentence or two and contact information should suffice.

Freebies
This is an excellent form of promotional tool that all businesses, both small and large, use on a daily basis. Two for one deals, 50% off your next service, or a free trial run are common promotional techniques that can encourage your potential customers to utilize your services or buy your products.

You can advertise your specials in a number of ways, including flyers in your business, postcards, signs, and so forth. If you have the budget, the radio is a good place for advertising as well.

Charity fundraisers
This is a great way to drum up business, get your name out, and help a worthy cause at the same time. Often, businesses will get together or host a charity fundraiser, which can take the form of a run or walk, a food collection, a street fair, and so forth.

This is a great promotional technique since you will most likely be getting free publicity for your event as well. Make sure you advertise, send out press releases, and call local news stations to cover your event. Pass out information about your company to those who attend.

When it comes to devising the right mix, make sure you take into consideration your budget as well as your demographics, so you are utilizing marketing materials that will reach the right group of people. With that in mind, the right mix of materials can greatly maximize your profits and reach more customers.

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