When it comes to making money, many people will immediately think that the best options are to invest in the stock market or in property. There is alot of money to be made in these markets if you have the capital or the ability to leverage finance. However, the return on most investments tends to be anywhere from 5-20%. When this is compared to the gradual rate of inflation, the profits that you think you have gained may have eroded.
Printed information has always been lucrative. The return on investment can be tenfold or more. There are experts that are claiming that this traditional media is dead, however it is still effective in certain markets and can easily be implemented by people running small to medium sized businesses from their office or at home.
Below are some business development tactics that you can use to help gain more customers and earn more money.
What do you need?
Purchase a printer that can do a large number of prints at an efficient price. Printers like the Epson Workforce WF-3640 are a good option to consider.
We recommend purchasing ink cartridges in bulk so that it is more cost-effective when printing. When implementing some of the following business development tactics, you will find that you will be doing hundreds or thousands of prints at a time.
High quality paper
The paper that you will be using will leave an impression with the person that receives it and it may influence their decision to do business with you in the future. (You can use this guide as a reference. )
High quality envelopes
For any direct mail campaigns, you will need high quality envelopes that will leave a good first impression with the recipient.
Tactics that you can implement.
Implementing a direct response campaign using mail is a great way to generate business and to increase your income. As long as you can develop sales copy that motivates and persuades the recipient to respond, then you will be able to increase your income simply by sending out more letters. You can develop a persuasive sales letter by using methods taught by Dan S. Kennedy.
Sending regular newsletters to your contact database is a great way to build your brand awareness and to remain at the front of the mind of your target customers. You can send a newsletter for approximately $2. You can use the newsletter to inform and educate your audience about the products or services that you offer.
If there is a long latency period between when people first learn about your services and when they purchase, then sending newsletters is a great way to nurture people through your marketing funnel so they can take the desired action that you want them to.
You can create a small information book that you can print and send to potential clients at a discounted price or for free. This can be used as a bribe to get them into your marketing funnel and to potentially get more business from them in the future.
You can sell the booklet as a standalone product or you can bundle it with other products to improve the overall value of what you are selling.
What is the potential ROI that you can get from this activity?
It is really up to you, but it isn’t uncommon for people to make up to 300% profit on their original investment. Even though the pricing point of the products might be much lower (tens, hundreds or thousands), there is a great deal of profit to be made as you start to build more high-end products. All of this can be done with your printer and printing accessories, which will cost you less than $1000, but can yield over $100,000 annually.
What do you think about making money in this way? Let us know in the comments below. Thanks for reading.