Marketing

1
Marketing Promoting Your Small Business Part II
WANTED CUSTOMERS For a Lifetime!
2
The 3 Rs of Target Marketing

• Researching Your Market
• Reaching Your Market
• Retaining Your Market

3
Promoting Yourself Part IIExercise Is Your Net
Working?

• 20 second elevator blurb
• Present Your Business Cards to the people that
  you think could use your services
• Collect business cards from the people whose
  services you could use
• What will you do with those business cards?
• Hint Start a Customer Database!

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Implementation of Marketing Strategy Useful
Small Business Strategies

• Differentiation your business is made to appear
  different from the others (think in terms of a
  yellow page ad)
• Location location geographically, virtually,
  and in the minds of your clients, like
  Fredericks of Hollywood
• Specialization Being specialized helps in a
  saturated market,
• for example, a bookkeeper that specializes in
  contractors, or a automobile repair that
  specializes in BMWs
• Positioning More likely used by larger
  corporations i.e. THE other Phone Company
• Substitution Attract customers by offering one
  product or service a low price and then sell an
  additional product at a higher price. A good
  example is the Mc Ds Buck Menu or hair salon
  that has a 39 perm special

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Implementation of Marketing Strategy MORE
Useful Small Business Strategies

• Niches finding a small segment of the market
  that is untapped grab the customers attention
• Star One, when you are a star (even a local
  politician) Two, when you use the name of a star
  to draw attention (OJ Simpson and Samsonite
  Luggage, or the George Forman Grill)
• Benefit People dont buy features, they buy
  benefits! Remember to market the BENEFITS! Tell
  them the Benefits
• Overnite Web Design
• Clean as a Whistle Janitorial

Most small businesses use two or more strategies!
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What is in a Name?

• The name should
• Contain the Marketing Strategy
• Describe the business
• Show a Benefit for the customer (not you)
• Be an attention-grabber
• Be easy to remember

Eat Today at E. Colis Place! Good Food!
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Selecting a Slogan (or tag line)

• Often, the name is not enough to grab the
  interest or to tell the story
• Add a slogan to emphasize the benefit or grab
  attention
• The Bookkeeping Company
• For Timely Financial Statements
• Business Perspectives
• Business Consulting from insight to action

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The Most Costly Form of MarketingBuilding
Relationships

• Also, the most effective!
• Marketing is really about building relationships
  and referrals
• People want to know the people they are doing
  business with-
• Think, long-term ROI, not immediate
  gratification-

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Action Ideas to Build Relationships

• Plant a seed!
• Overcome the fear of cold-calling-
• Introduce yourself to someone you dont know (in
  a safe environment- MIXER)
• Give yourself permission to fail.
• You miss 100 of the shots you never take. Wayne
  Trotsky

• 5. Build permission to follow-up.
• 6. FOLLOW-UP!
• 7. Create a hit list of companies and send a
  personal note.
• 8. Get to know your contacts
• (start a contact file)
• 9. LISTEN TO THEIR NEEDS!
• 10. Thank people!

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Advertising

• Takes planning, time, persistence and money!
• Image Identity is developed
• Determine the most appropriate form of Media
• Involve the audience
• Inform the customer about the benefits
• Illustrate the benefits
• Always track your advertising response for
  effectiveness

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Tracking Your Advertising DollarsYou need to
know which advertisement pays

• Develop an Advertising Worksheet to plan a
  targeted advertising campaign.
• Systematically TRACK your referrals through an
  Advertising Response Record
• Ask your clients how they were referred to you.
  Train your employees to ask how they heard about
  you. Remember to thank the referrals!
• Many small business owners join Leads groups to
  help stimulate referrals

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THE YELLOW Pages

• One of the most common forms of advertising is
  the Yellow Pages-
• When people look in the Yellow Pages they are
  ready to buy But, ask yourself when do you look
  in the book? Do you look for a massage therapist?
  How about a plumber?
• Use a Marketing Strategy in the Advertisement.
• Size is not always the biggest attention
  grabber..it is the message!
• Follow-up is critical. Potential customers will
  call, but you need to respond.
• Remember the Yellow-page sales rep DOES get a
  commission off your advertisement.

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Service Directories Classified Ads

• Service Directories appear in most newspapers,
  before the classified ads.
• Many papers will have special sections or
  special inserts for certain industries. Call them
  to find out.
• Solano County is unique because of the many
  localize papers, in specific communities
• The advantage of a Service Directory is that you
  can change or drop the ad at anytime and save
  .
• Classified are also like Yellow Pages, where you
  are listed alphabetically.
• You can test the effectiveness by advertising
  once (Sunday is best) before paying for a whole
  month, or committing to a whole year.

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Door to Door Flyers

• Still one of the most cost effective method of
  getting the word out.
• Take the time to design a professional
  flyer..it can be the standard 8 ½ x 11.
• Test Market the flyer with one-hundred copies.
  See if you get interest and at least one customer
• Think of the appropriate
• Location, Message, Timing
• Be familiar with zoning practices
• Remember, door-to-door work for some businesses
  and not for others!

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Direct Mail Techniques

• Direct Mail means you send out a brochure, flyer,
  catalogue or cover letter to a prospective
  client.
• The real success lies in your database of
  potential clients
• The more you know them, the more you have an
  opportunity of grabbing their interest and action
  is taken.
• There are mailing lists that can be purchased
  for as low as 250 per 5,000.
• Starting your own Database Marketing is critical
• (Start today with the members of the class)
• Many small businesses will grow their own lists
  through chamber mixers, trade shows, conferences-
• This is covered in Sales Profit under CRM
• Follow-up is a critical element.

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Personal Mail

• In this hi-tech day and age, we hardly ever
  consider personal notes as a type of marketingin
  truth, they are still considered the most
  effective. TRY Using
• Thank You Notes
• Fun and interesting postcards
• Congratulation Cards
• Keep in Touch Cards
• Birthday Cards
• Hand delivering your notes

The most successful people write personal notes,
regularlyTom Peters
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Alternative MarketingOther means to get the
message out!

• Displays at Trade Shows or Community Events
  (www.TSNN.com)
• Community Involvement Sponsor a Little League
  Team or a Class
• Sponsor an Athletic Event or a Fun Run
• Telemarketing
• Utilizing Networking or Leads Groups Letip
• Promotional Gimmicks Fobs and magnets

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Marketing on the Internet

• E- Marketing is Hot!, but it is Not for every
  business!
• Before you dive into e-commerce, e-marketing and
  becoming a pure click business do your
  research!
• Ask the questions
• What message do I want to deliver?
• How do I want to format the material?
• Who do I want to reach?
• Do my customers have access?
• Is it cost effective?
• How does this integrate into my overall strategy?
• What other marketing pieces direct the clients to
  this webpage ( is your email or website on your
  brochure)

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The Benefits of being connected and E-Commerce

• Opportunity for increased revenue
• Convenience to clients 24/7
• Enhanced Customer Service
• Potentially lowering overhead

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Factors to Consider Before Launching into
E-Commerce

• Exactly HOW will your company utilize the web to
• enhance services?
• HOW will you
• integrate technology
• into your
• Marketing strategy?

• How will you continue to develop great
• customer service?
• HOW will you create a meaningful presence?
• How will you measure success?

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The 4th P Promotion

• Many business owners only buy-in to advertising
  when they consider promoting their businesses.
• Remember PROMOTION is any and every way to
• Get the word out about your products services
• Generate referrals and interest for your business
• Present your image.
• Promotion includes advertising, marketing,
  networking and publicity.

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Publicity FREE ADVERTISING!

• Publicity has been defined as free advertising
  
• You need to be able to present a Unique Angle
  on your business to get a Press Release printed
  or a PSA ( Public Service Announcement) aired
• Get involved with the community and the annual
  events
• Become a specialist in your community
• Time your Press Release and/or PSA at least 2
  weeks before the event

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What is Publicity?

• Public Relations- PRpublic any group who
  might have an interest on the ability of your
  company to achieve its objective
• PR is a variety of programs design to promote or
  protect a companys image.
• Publicity Includes Press Relations, Product
  Publicity, Corporate Communication, Lobbying,
  Counseling

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The Pros Cons of PR

• PROS
• There is always a publicity angle!
• PR is cheap or FREE, but it can be worth a lot!
• You can save a copy of the article and show it
  again and again!
• It builds credibility and promotes your image!
• It can be used to enhance your advertising!

• Cons
• Most small businesses make the mistake of not
  adding into the marketing mix.
• Most small businesses do not target their
  Publicity.
• It can be an one-time shot.
• Often times it is not controlled.
• BIG Media isnt always the Best channel.
• Publicity is like selling..it may take a lot of
  leg work!

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Become a Community specialist

• Speak to classes or publicize your unique service
  at a Rotary Meeting
• Develop a Newsletter on your specialty!
• Write an article for a trade magazine or local
  newspaper
• Develop a seminar (if appropriate for your
  service)

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The Final R Retaining Your MarketCustomer
Satisfaction

• The customer may not be the KING, or always
  right, but the customer is always the customer!
• Customer Satisfaction is the Heart of Retention
• RETENTION is the heart of staying in business and
  growing (and profiting)
• Customer Relationship Management is a key element
  in our Growing for Sales Profit Class.
• For now, remember to focus on the customer
  (internal external)!

80 of your business comes from 20 of your
customers