The Philosophy of Profit

                                                                                         

Let me give you one of the cornerstones of successful marketing. “Know yourself.” Its an adage that reaches back to antiquity, but it hold true to modern times as well. You probably heard it from Socrates, though its been attributed to a handful of old Greek writers, poets and philosophers. Ok, the history lesson is over and you’re probably wondering what ancient philosophy has to do with your latest ad campaign. Frankly, it has everything to do with it. If you don’t know the strengths of your company, how can you ever hope to use them to their greatest advantage?

Now I don’t know your company myself, and I don’t know what you’re trying to market, but let me give you some examples and guidelines that can get you on the right track to shaping your ads to suite your company.

Know What You Have to Offer: Knowing your product inventory matters. Are you planning on doing new catalog printing? If you have a large inventory of varied product lines, full color catalogs are an efficient and effective way to show off your product offerings in an informative way that is helpful to your customers. If your business has a relatively small inventory with only one or two product lines that are regularly upgraded with new features, on the other hand, you run the risk of having an anemic and unimpressive catalog. In this case, you would be better served by doing booklet printing at regular intervals to better accentuate your limited, but dynamic product lines.

Know Your Strengths: Don’t be afraid to brag. Maybe your local newspaper awarded your business with a “best service” or “best new business” title. This is no time for modesty! Make sure the news reaches customers by incorporating it into your flyers and posters. Not everyone is going to have read your local paper and even if they did, they may have skipped right over your award on their way to the crossword. It’s up to you to spread the word with your advertising.

Know Your Weakness: If you have a weak spot, and we all do, it’s important to play it down and try to offset it. Maybe you have limited floor space to display products at your store. Catalogs can counter this problem and display the entirety of your inventory to your customers. Maybe you’re business isn’t in a prime location that gets a lot of regular traffic. Handing out promotional flyers or posting them at busy intersections can get your company noticed.

Sure, Socrates probably never imagined that you would put his advice and wise words to use to boost your company’s profits, but there’s really no harm in that is there? So, let the old philosopher roll in his grave while you count your increasing customer base and growing revenue.

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