Craigslist Advertising - The Biggest Bargain in the World

Any business who wants to sell more of their products or services should look into Craigslist advertising.. No matter if the products are being sold through websites or brick and mortar stores, Craigslist can still be very profitable. Except for job posting and housing posting in some markets, advertising on Craigslist is free. 

Because of this there is little monetary risk in placing your advertisements and you can experiment without worrying about the cost. The only thing you'll have to worry about is agreeing to the Craigslist terms of service and following the specific guidelines when posting.

A major reason for advertising with Craigslist along with the free ads is the huge number of potential customers you'll be able to reach. According to the Craigslist fact sheet they get more than 9 billion page views per month and have ten million new images each month. More than 30 million people including more than 25 million in the US alone use Craigslist each month. 

At present there are 450 Craigslist sites in all 50 US states, and in over 50 countries. I have to say these kind of figures really support the claim that Craigslist advertising is the biggest bargain in the world.

With mind boggling figures like Craigslist has, you would think any kind of ad you post would be a winner but not so. You still have to have an attractive ad with a perceived good value in a place where people are looking for it. If you don't you won't be successful no matter how many people come to the site. The huge numbers are great but you still need targeted traffic to be successful no matter what you're selling. With as many different sites as they have you can pinpoint your ads to the exact geographical site you want along with the exact category for your product. 

Marketers know that a small well targeted audience that is interested in your product will make you more money than a huge audience who is not that interested.

One of the keys to marketing to your target customers on Craigslist is to place your ad in the best location on the overall site. Craigslist has specific sections for different types of business to advertise in. If you feel your ad should in more than one section or area then you need to write another variation of your ad so you don't get flagged.

Even if there is not a section for your business or service you still have some options such as placing the ad in the advertising section for small business. There is a chance that someone doing a search in this area might find it, but a better option, if you can't find a good category to advertise in, is to ask Craigslist to add your category. They might accommodate you if they feel it warrants it. Having your own category to your self for even a little while could turn out to be a real winner for your business.

Advertising on Craigslist is fantastic but spamming is not cool or is it tolerated. Do not under any circumstances run the same ad on more than one category or in more than one location. If you want to run more than one edition of the same ad you must rewrite it so it doesn't appear to be spam to readers or the spam watchers on Craigslist. 

Spam may not only cause your potential customers to boycott your ads if they see them all over the place, but you may get all your ads deleted and even possibly be banned from advertising in the future. Play by the rules set forth by Craigslist and you won't find a better advertising bargain anywhere.

Three Ideas To Get Right Co-Branding Partner

Partnership is a key to great success. Good marriages result in big personal achievements. Long and strong marriages pave a way for major accomplishments that seem impossible individually. Well, this article is not about marriage but it is about sound business partnerships or co-branding. 

You must have heard about two big brands forming a merger or getting into partnerships. Yes, it can be possible even at the smallest level. Two like minded people can start a brand together. As it grows, a third person who has a complimenting business can be your partner.

The chain can grow in this manner, mutually benefiting each party. Such an example, is present in the nature, Lichen is a plant that is formed by the symbiotic association or partnership of an algae and fungus. The algae provides food to the fungus while the fungus provides protection to the algae. Together, they form a strong partnership and survive the changing climatic conditions.

Co-branding thrives mainly on the "Lichen" phenomenon. Where one party provides a complimentary benefit to the other. It is also an improved version of the old fashioned barter system. Recently, such a co-branding example was shown by Spotify and Starbucks. It is needless to say, that Starbucks has already charmed the world by its amazing business model. 

The Starbucks and Spotify partnership will set another big example of successful co-branding. In this partnership, Spotify subscribers will be getting "reward points" or stars and they will also get to recommend songs to be played in the Starbucks stores.

Now, let's see how co-branding can benefit a small business owner or an e-Commerce business owner as well.

1) Make Your Own Statement:

There is something about being different and thinking out-of-the-box that appeals to the audience. Taking this mantra search for the partners. If you sell the locks then search for the partner who sells keys and not locks. This will benefit both of you. Hang your ego and preset notions on the tree in your backyard. Move forward with a flexible and open mind.

2) Search For The Soulmate

This is not a dating article and it does not intend to be. But no matter how much this concept is considered illusionary, it has it's roots in reality. Similar minds and souls make successful and lasting partnerships. Just like your life-long friends are your soulmates, your brand partners should be just the same. It can be an odd partnership but if you vibe in the same way, go for it!

3) Choose A Valuable Partner

Co-Branding is a very risky business. In fact, it can be riskier than starting your own business if you don't partner with the right brands. Bad partnership can be a call for the dooms day. Therefore, while you make your choice, select the partner who elevates your value. 

It is essential to note that this does not necessarily mean aiming for the big name although it may be a good thing. It actually means, going for the right partner who will be a positive influence on your brand.

The Walmart's Strategy - Perfect and Not-So Perfect

Walmart, one of America's multinational retailer corporation, ranked as the 3rd world largest corporation by Fortune Global 500, with 2 million employees worldwide.

Walmart is a family owned business, owned by the Walton family which have a 48% share in the company.

Walmart was founded in 1962 by Sam Walton.

Walmart was not Sam Walton's first experience with the details that accompanied retail marketing. Sam Walton began his journey at the J.C. Penney Store, then later met the Butler Brothers who at that time owned a chain of stores called Ben Franklin.

Sam Walton obtained a franchise and opened a new Ben Franklin which he called Walton's Five and Dime.

Walton's Five and Dime was a big success for Sam Walton as a result of the strategy he used; he attained high sales volume by marking up slightly less than his competitors.

The key to success had been found and Sam Walton decided to take it to the next level.

And on July 2, 1962, the first Walmart was opened and the same principles and strategies used previously were put to play again and this time it created a snowball effect of greater success.

In 1967, Walmart had expanded to 24 stores around the US and had reached $12.6million in sales.

In 1970, Walmart had 38 stores operating in the US with 1,500 employees and sales of $44.2 million.

In 1972, Walmart was traded on the New York Stock Exchange.

In 1975, Walmart had 125 stores operating within the US and 7,500 employees and $340.3million in sales.

In 1980, Walmart had increased exponentially with 1,198 stores recording $15.9 billion in sales and 200,000 employees and went further to launch its $24 million satellite network to link all its stores together.

The simple strategy it put in place catapulted it to greater height and by 1995 Walmart opened stores overseas.

Walmart had grown so big that the business world had to take notice and in 2002, it was listed for the 1st time as America's largest corporation with revenue of $219.8 billion and profit of $6.7billion.

Walmart earned the respects even in groceries,as the largest grocery retailer in the US, generating 51% of the $258 billion in grocery sales in the US in 2009.

Walmart is a perfect example of how powerful a simple marketing strategy is and here is proof; it operates 8,500 stores in 15 countries under 55 names a few of which are:

· Walmart in US 
· Walmex in Mexico 
· Asda in the UK 
· Seiyu in Japan 
· Best Price in India

But...

Its sad to say that despite how perfect a marketing strategy could be there are always factors beyond your control that may affect its effectiveness and in most cases affect your business.

Here's an example with Walmart:

In the 1990s, Walmart made a bold move to venture into Germany and use the same strategy that had worked in the US. Walmart purchased Wertkauf's 21 stores for €375million and also Interspar's 74 stores for €750million.

But every attempted foothold in the German market failed, for the following reasons:

1.     The German market was highly competitive with several companies using the "low price" strategy Walmart uses, giving them no competitive advantage.

2.     Walmart received a bad public reputation as a result of its corporate culture and statement of ethics which prohibited relationship between employees.

After suffering several blows, Walmart bowed out of the German market after recording an estimated €3 billion loss, and sold its stores to Metro; a German company.

This story leaves me with one question; Is there such a thing as a Perfect Market Strategy?

I doubt it.

In marketing, there's no such thing as a one-size-fits-all approach... its naïve to think it ever exist. Its an illusion created in boardrooms over coffee but reality is always reality.

After thinking up your strategy, have in mind one thing; the flaw.

Its not because you didn't do your homework well, its just circumstances you have little or no control over.

You win some, you lose some.

You might have lost the battle, but just be sure you don't lose the WAR.

Why Does Everyone Hate Walmart? I Love Walmart!

I don’t get it. Why do so many people hate Walmart? I’m actually a big fan of Walmart. They offer some of the most competitive prices for nearly… everything! Walmart is the single biggest employer in the United States. It employees well over 1 million workers, and gives them the option to opt into a health care program. Wal-Mart pays an average full-time hourly worker of $10.11 an hour, according to independent expert statistical analysis*. That’s nearly double federal minimum wage of $5.15 an hour. Let’s analyze Walmart a bit further by looking at the usual complaints and responding to them.

Complaint: Walmart drives out competition! They’re evil! 
My Response: Walmart beats the competition. They offer the same product at a cheaper price. That means they are more efficient then their competitors. Since when was being successful a crime? Let’s look at a scenario. Let’s pretend YOU made a new website. Let’s say your new website competes with Google. Your new website is amazingly efficient, user friendly, and always gets the best search results. 

You start making millions of dollars. Your new website is absolutely phenomenal. Whenever someone searches something, they always find exactly what they’re looking for. You managed to do this because you spent countless months developing your new search engine. Your new website also gets praise from the entire country for being such a resourceful website. However, due to the result of your new success, you managed to bankrupt both Google and Yahoo by offering cheaper rates. 

Did you do anything wrong? Absolutely not! You created a BETTER product then your competitors, and in result, they had to close down, because they couldn’t adapt to their new competition. This is exactly what Walmart did. They created an extremely efficient method of getting products and putting them on the shelf at low costs.

Complaint: Walmart strong-arms its suppliers for the lowest possible prices. 
My Response: Why should Walmart pay the same price for a TV as Joe’s electronics? Walmart purchases 1,000,000 TVs at once, while Joe’s electronics purchases 5. The truth is that suppliers love Walmart. (source below). Why wouldn’t they? When you talk about transactions, you have to understand basic economics. 

Whenever a transaction occurs, both parties always benefit. If that wasn’t the case, the transaction would not have occurred. Lets look at the most basic example. When I purchase a gallon of milk for $2 at 7-Eleven, I clearly want the milk more then I want the 2$. The 7-Eleven clearly wants my 2$ instead of the gallon of milk. Whenever Walmart needs to restock, they contact their suppliers and negotiate a price. If both parties agree, the order is fulfilled. If the supplier cannot agree on a price with Walmart, the supplier has the option to decline. Walmart will then seek a different supplier to get the order filled. 

If no supplier will fulfill Walmart’s order, Walmart will most likely raise its offer and try to negotiate once again with its suppliers. Is this penny pinching method evil? Of course not! Walmart is trying to get the best deal possible. Since when was that ever a despicable act? A consumer usually checks the price on higher tag items at multiple retailers before making a purchase, why shouldn’t Walmart do the same thing?

Complaint: Walmart is a monopoly! 
My Response: Walmart is not a monopoly. Anyone can compete with Walmart. If you want to talk about monopolies, take a look the United States Postal Service or PSEG. If you compete with the Postal Service on non urgent first class mail you will get locked up. You won’t get locked up for competing with Walmart. Walmart currently has fewer than 10% market share for retail in the United States. 

Hewlett Packard (HP) currently has a 16.9% worldwide market share in the personal computer market, why aren’t they labeled a monopoly? Intuit, the maker of QuickBooks, has a 73.9% of the accounting software market, and they aren’t criticized nearly as much as Walmart is. Where do the complaints really come from? The consumers? No way! Walmart serves over 100 million customers each week. They wouldn’t keep coming back if their experience wasn’t satisfactory.