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what kind of marketing would work best for a Cash for Gold Buisness

by vanbino
12 replies
hi,

i am wondering what kind of marketing would work best for a cash for gold buisness ? ppc is not an option, not enough searches in the area, craigslist have worked, but it has gone down in volume, i am looking for offline ideas

i will be trying EDDM marketing soon
#buisness #cash #gold #kind #marketing #work
  • Profile picture of the author kebertt
    Direct mail
    Billboards
    Postcards
    Newspapers

    What is your business model? By offering a service where customers can mail in their gold, you'd open up a much larger target market and could use lots of other forms of marketing (SEO, PPC, etc.)
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    • Profile picture of the author vanbino
      right now it is just local, before i was doing ppc and people were able to mail the gold, but what happened it is too expensive and people do not mail you gold, they mail you fake gold and you loose money in the ppc and the postage

      so it is better to keep it local, plus people have no need to mail their gold, there are cash for gold companies everywhere

      so right now all i have is craigslist marketing, and store traffic, but i want to do some EDDM marketing to increase the store traffic,

      the price of the marketing campaign have to be right since people do not have as much gold as they used to
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  • Profile picture of the author XponentSYS
    I'd do EDDM with a glossy color ad. One thing you could do is find 2 other companies who would create offers to compliment that of your client. You'd then create a big "3 up" post card and charge enough for the other 2 ads to cover all expenses. Then, what you'd charge your client becomes your profit.

    I did this for my brothers landscaping maintenance company. I didn't charge my brother anything though so in effect, his mailing was free.

    This isn't I method I invented - people have been doing "co-ops" for years. Our friend Bob Ross (Jake) here on the forum has a great course on this method. It's called "3M" or something like that. I have it and if this interests you, you should grab it.

    Additionally, you could do a lead generation campaign using post cards to find people who have gold - then follow up to get them to sell it.
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    • Profile picture of the author vanbino
      yes, i am thinking in doing that with the EDDM, i am following bod ross way of doing it to see if i can get enough small business to advertise with me, given them a very good deal just enough to covert my ad space for the cash for gold and the cash for iphones
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  • Profile picture of the author mrmatt
    There is a franchise out there right now that is based around the Tupper Ware parties model striclty for gold/silver buying.

    Brilliant idea if you ask me. High and upper middle come people may not want to be seen at the pawn shop or coin dealer selling their scrap gold.
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    • Profile picture of the author vanbino
      you meant gold parties
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    • Profile picture of the author RenegadeSC
      Originally Posted by mrmatt View Post

      There is a franchise out there right now that is based around the Tupper Ware parties model striclty for gold/silver buying.

      Brilliant idea if you ask me. High and upper middle come people may not want to be seen at the pawn shop or coin dealer selling their scrap gold.
      MrMatt hit the nail right on the head!

      I have a client who's owns a jewelry store. He focuses on buying gold. He's doing really well and here's why.

      I was sitting with him working on his how we would redesign his site. A woman came in and sold a bracelet and ring. She was thrilled at what she made. While we sat there, she called a friend, shared how much she made and within hours the friend arrived and sold her gold too. Over the course of 2 weeks, 20 people, all connected to the first sale, sold gold to my client.

      They were all from the same church and they were telling everyone how fair he was.

      We called all the past customers, told them if they would get their friends together for a "gold buying" party, he would pay the host 10% of whatever he bought.

      He averages 3 parties a week and has done so since Spring 2012 when gold prices were at their highest.

      For the record, he could do more parties but he's an avid Harley rider and takes frequent trips.

      Tupper ware/gold buying parties work.
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  • Profile picture of the author Mike R
    Originally Posted by vanbino View Post

    hi,

    i am wondering what kind of marketing would work best for a cash for gold buisness ? ppc is not an option, not enough searches in the area, craigslist have worked, but it has gone down in volume, i am looking for offline ideas
    Try Local SEO & Google+ Local Optimization for the physical location.
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    • Profile picture of the author vanbino
      i tried ppc for my local market to see if it was worth it to do seo and google plus and i found out the there is almost no traffic for my area, i guess that the people that have gold do not go to google

      but craigslist has work for the younger people
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  • Profile picture of the author swilliams09
    At my local job (tv station) we have done 4 commercials in the 6 months that I have been working there for Cash for Gold/loan companies. It looks like they see a return as they keep running the spots.

    Personally I would think that a direct mail, EDDM to targeted neighborhoods might create a good return, but you have to test it to be sure. At any rate it's cheaper than buying air time on TV.
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  • Profile picture of the author SasheSasha
    I'd definetly try going the route of using craigslist and just getting your ad out in your local community. Mailers still do work, get some business cards, pass them out everywhere.
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    • Profile picture of the author vanbino
      yes i think it depends on the area that you are in,
      because i know that local ppc would work in big cities like LA, i have done it to test it, but the only problem is that LA is too far for me to make it worth it
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