The key to building a successful business is proper promotion.
When you are first starting out, it is so important that you spend your advertising dollars effectively. More than likely, you will get your start by operating a mobile gold buying operation. Some very inexpensive but effective advertising methods are:
1. Gold parties. This is without a doubt the best way to advertise. It cost you only a % of the gold that you buy and you get warm, receptive prospects to host other gold parties by offering the people that you just paid more money than the could get anywhere else the opportunity for them to host their own party and also make money while helping their friends and family the same way.
2. Magnetic signs for your car. This form of advertising is relatively inexpensive (less than $20 per sign) and very effective.
3. Posting signs on bulletin boards at your local supermarket. You know the sign that I am talking about……the signs that are 8 1/2 x 11 sheets of paper with tear off phone numbers.
4. Posting ads on craigslist.
5. Running ads in Penny Saver or Bargain Bulletin newspapers. (free papers)
6. Bandit signs. This is far and away the highest ROI you’ll get on your advertising dollars!!! For those of you not familiar with bandit signs, they are the signs that you see on corners or telephone poles that are made out of corrugated plastic and cost about two dollars a sign. The sign that gets the best results is a yellow sign with black lettering that says “We Buy Gold” and your phone number.
If you are operating from a permanent physical location then some other forms of advertising you might consider are:
1. Billboards. Billboards relatively close to your shop are most effective. Billboards for example that say turn right in half a mile on main street and give your address (123 Main St.) are very effective but Billboards on highways that say “123 Main St.” and this address is 10 miles away, are not nearly as effective.)
2. Signage on your store.
3. TV ads. The most effective advertising on TV is done early in the morning between midnight and 6 AM. This is due to two factors. First, the advertising at this time is very inexpensive compared to during the day. Second, the people that are having financial troubles also have trouble sleeping and, as a result, this is when your target audience is watching TV.
3. Bench signs….The signs you see on benches at bus stops.
In the end, there is no better advertising than word-of-mouth. This can be achieved simply by paying more than the competition and treating your sellers fair.