While it may require some work, thought and quality, a newsletter is a fast, inexpensive way to market services and products effectively. And it could keep you from losing customers that your sales staff just hasn't had the time to reach.

A periodic newsletter should be part of an overall strategic marketing plan. It can help build business. It can reinforce customer loyalty, develop new prospects, and build a strong reputation for your business.

So what types of businesses benefit from the newsletter approach? From professionals such as lawyers and accountants to retailers to manufacturers, the newsletter offers numerous advantages in communicating timely information to existing customers to keep your business consistently in front of them. It provides a method of staying in touch without interrupting them with phone calls or visits. Plus customers begin to view you as the authority in your field and have an increased comfort level that you will be more accommodating to their needs.

You can also use newsletters to heat up cold calls. Send your monthly or bimonthly newsletter to a list of potential customers and then call on them after about six months. More than likely you'll find them receptive to your services because they will have a familiarity with you and will take your call for appointment.

The content of your newsletter is critical. If readers don't find it interesting, entertaining and useful, your message will be lost and any benefits will not be realized. Provide articles about new products or services and how each might benefit the customer. Share information that saves customers time and money or helps them get more business or prepares them for the future in some way. Articles of advice are extremely attention getting. A garden center, for instance, might offer tips on planting flowers or seasonal suggestions.

Announce upcoming sales and promotions. You might want to include a special "sneak preview" for clients or a free offering if the customer acts before a specified deadline. Columns offering news about your business are of interest such as awards or recognition that have been achieved by employees or news about the industry and how the client might be affected. For instance, an accountant might include information about tax law changes and how they might impact certain businesses.

The frequency of producing your newsletter will be determined by several factors. You will want to consider how much information you have to offer, how often your customers buy your products or services and the size of their purchases. If you are announcing changes to your business, you should launch a newsletter mailing whenever you have something newsworthy to report. If you have ongoing advice and tips to pass on and your customers need your products three or more times a year, you may want to consider producing a quarterly newsletter so that customers will regularly be reminded of your product. If customers are buying once a month, you may generate a monthly or bi-monthly newsletter. If you commit to producing a newsletter, you need to produce at least one a year to develop credibility.

The cost of a newsletter will be directly related to the type of production you undertake. You'll need to decide whether to write it yourself or pay someone else to do the writing. Will you do the typesetting and design and do you have the proper software and printers to do it or will you pay someone else to do it? Then you'll need to know how you'll reproduce the piece. Will you photocopy it or use an offset printer? If you're mailing out the newsletter, you'll also need to factor in mailing costs. If you send out sufficient quantities, you might want to use bulk mailing rates.

If you find creating your own newsletter is too pricey, you might want to work with other businesses to contribute articles and share the expenses. Or sometimes you can find newsletters already created in your industry that you can purchase and customize with your name and a personal welcome message.

The nicest part about newsletters is that most people respond favorably to receiving information and recognize a businesses' attempt to educate. If you'd like to customize your efforts further, you might want to identify 20 or 30 of your top clients and add a handwritten note or attach an interesting news story that fits their interests.

Newsletters are powerful. Increase your sales potential by harnessing the power. And, who knows, you might even find your publication becomes in such high demand that you end up charging for it and thus add a new profit center to your business!

Peggy Sealfon, owner of Naples-based advertising agency Sealfon & Associates, has written on a variety of topics for national newspapers and magazines.