Tuesday, August 10, 2010
Marketing Tip 2
2. Keep it personal.
“Dear Friend, I have to tell you a secret. People yearn for personal, one-on-one contact. I think they want to be treated as unique individuals.”
Did the above statement hit you a little differently than the rest of this article? If so, you can see that in anything you write – even an Internet ad – you should make your potential customer feel special.
There are many ways to do this. In email or letter correspondence you could use a personal greeting, or their name (if you know it). Or, you can make the customer feel like they’re part of a very special, small group. No one wants to feel like just another face in the crowd!
“Dear Friend, I have to tell you a secret. People yearn for personal, one-on-one contact. I think they want to be treated as unique individuals.”
Did the above statement hit you a little differently than the rest of this article? If so, you can see that in anything you write – even an Internet ad – you should make your potential customer feel special.
There are many ways to do this. In email or letter correspondence you could use a personal greeting, or their name (if you know it). Or, you can make the customer feel like they’re part of a very special, small group. No one wants to feel like just another face in the crowd!
Labels:
Entrepreneurship
Monday, August 9, 2010
Advertising
Advertising
Advertising is one way to get information about your product or service to potential customers. Because advertising can be expensive, you will want to focus your reach on a very specific target market-which means getting in front of specific prospects most likely to be interested in what you offer.
For example, if you own a chain of day care centers, it may be more effective to advertise in selective local publications that target parents with young children; or you could advertise in school newsletters that reach families within a ten-mile radius of each of your centers. Advertising is only effective if it reaches the eyes and ears of your intended audience.
Print and Media Advertising
Print and media advertising include newspapers, magazines, television, radio, and the Internet. If you are considering advertising in these venues, you need to ensure that the advertising will yield the results you desire-quick results and rapid sales.
Swapping Services
When a Boston public radio station needed office relocation assistance, entrepreneur Gretchen Fox, president of Fox Relocation Management Corp., saw an opportunity. In lieu of a fee-for-service arrangement, she swapped her services for radio spots promoting Fox Relocation. The market synergy was perfect: among the station listeners were the top executives of professional and financial firms in Boston. The urbane, understated announcements positioned Fox's firm as professional and civic-minded, educated the market about the new service she was offering, and gave the impression of a more established firm.
Advertising can be costly. If you plan to promote your business this way, consider:
•Purchasing small blocks of local radio or television time at a reduced rate.
•Buying pre-emptable time. If timing is important, this won't work.
•Selecting a smaller local newspaper, radio station, or television station that reaches your market.
•Working with a media-buying service that provides expertise in buying various types of media.
Other Forms of Advertising
Other popular advertising venues include direct mail and Yellow Pages ads. Many entrepreneurs also reach their target market by using new and creative advertising options that are just emerging. One example of a new form of advertising is floor slicks-ads of food products placed in front of shelved products in grocery store aisles. Other ad options include grocery store carts, digital messages on display boards, theatre screens prior to movie previews, and magnetic billboards on vehicles. Consider these and other advertising options, including the following:
Web banners- Place advertisements for your company, product, or service on other companies' Web sites.
E-commerce catalogs- Make electronic catalogs available to customers on your company Web site. The advantages include no printing or mailing costs and product or service descriptions. Prices can be updated anytime.
Direct mail- Direct mail means sending marketing information and sales literature to potential customers by mail. From the standpoint of size alone, direct-mail marketing provides a way to reach a large number of customers quickly. It allows entrepreneurs to easily measure the response. The quality of the mailing list has a major impact on the effectiveness of the campaign. Many of the lists sold are only updated annually, and the contact information may be outdated quickly.
Thoughtfully designed direct mail pieces can produce desired results. Research has shown that more than 90 percent of Americans have bought at least one item as a result of direct mail. The disadvantage of using direct mail is that the cost is front-loaded. The mailing piece, mailing lists, and postage are paid for up front without any guarantee that sales will be generated. Response rates for direct mail are low and average about 1 to 3 percent. Carefully targeting the recipients can improve response rates.
You can compile the best mailing list from actual customers. If you keep track of their names and addresses via receipts and order forms, you automatically have a list. Asking customers to sign a list or enter e-mail information enhances your customer mailing list.
The Yellow Pages- Many entrepreneurs find that advertising in the Yellow Pages is a necessity to their business while others discover that their target market doesn't use this source to find their type of business. Some of the advantages of advertising in the Yellow Pages include the ability to select a well-defined neighborhood as well as an entire metropolitan area, the various ad sizes and color options, and a relatively low cost for production and target reach. Disadvantages include the infrequency of placement-ads can only be placed once a year, the clutter caused by competitors' listings and ads, and lack of creative flexibility compared to other media options.
Flyers- You can use handouts or flyers at networking events or trade shows. They often contain a discount coupon to attract customers. This method can be a cost-effective way to reach a small market area since you can design flyers or coupons on a personal computer and have a printing service print hundreds of them fairly inexpensively. You can also trace how many customers are attracted to your business by counting the redeemed coupons.
Catalogs- The catalog industry has grown significantly. Firms such as L.L. Bean, Orvis, and Lands' End; have all enjoyed tremendous growth and success. Catalogs, however, are expensive to produce and send, and these costs are incurred prior to making any sales. It is important to develop a targeted customer list before investing in this advertising venue.
Advertising is one way to get information about your product or service to potential customers. Because advertising can be expensive, you will want to focus your reach on a very specific target market-which means getting in front of specific prospects most likely to be interested in what you offer.
For example, if you own a chain of day care centers, it may be more effective to advertise in selective local publications that target parents with young children; or you could advertise in school newsletters that reach families within a ten-mile radius of each of your centers. Advertising is only effective if it reaches the eyes and ears of your intended audience.
Print and Media Advertising
Print and media advertising include newspapers, magazines, television, radio, and the Internet. If you are considering advertising in these venues, you need to ensure that the advertising will yield the results you desire-quick results and rapid sales.
Swapping Services
When a Boston public radio station needed office relocation assistance, entrepreneur Gretchen Fox, president of Fox Relocation Management Corp., saw an opportunity. In lieu of a fee-for-service arrangement, she swapped her services for radio spots promoting Fox Relocation. The market synergy was perfect: among the station listeners were the top executives of professional and financial firms in Boston. The urbane, understated announcements positioned Fox's firm as professional and civic-minded, educated the market about the new service she was offering, and gave the impression of a more established firm.
Advertising can be costly. If you plan to promote your business this way, consider:
•Purchasing small blocks of local radio or television time at a reduced rate.
•Buying pre-emptable time. If timing is important, this won't work.
•Selecting a smaller local newspaper, radio station, or television station that reaches your market.
•Working with a media-buying service that provides expertise in buying various types of media.
Other Forms of Advertising
Other popular advertising venues include direct mail and Yellow Pages ads. Many entrepreneurs also reach their target market by using new and creative advertising options that are just emerging. One example of a new form of advertising is floor slicks-ads of food products placed in front of shelved products in grocery store aisles. Other ad options include grocery store carts, digital messages on display boards, theatre screens prior to movie previews, and magnetic billboards on vehicles. Consider these and other advertising options, including the following:
Web banners- Place advertisements for your company, product, or service on other companies' Web sites.
E-commerce catalogs- Make electronic catalogs available to customers on your company Web site. The advantages include no printing or mailing costs and product or service descriptions. Prices can be updated anytime.
Direct mail- Direct mail means sending marketing information and sales literature to potential customers by mail. From the standpoint of size alone, direct-mail marketing provides a way to reach a large number of customers quickly. It allows entrepreneurs to easily measure the response. The quality of the mailing list has a major impact on the effectiveness of the campaign. Many of the lists sold are only updated annually, and the contact information may be outdated quickly.
Thoughtfully designed direct mail pieces can produce desired results. Research has shown that more than 90 percent of Americans have bought at least one item as a result of direct mail. The disadvantage of using direct mail is that the cost is front-loaded. The mailing piece, mailing lists, and postage are paid for up front without any guarantee that sales will be generated. Response rates for direct mail are low and average about 1 to 3 percent. Carefully targeting the recipients can improve response rates.
You can compile the best mailing list from actual customers. If you keep track of their names and addresses via receipts and order forms, you automatically have a list. Asking customers to sign a list or enter e-mail information enhances your customer mailing list.
The Yellow Pages- Many entrepreneurs find that advertising in the Yellow Pages is a necessity to their business while others discover that their target market doesn't use this source to find their type of business. Some of the advantages of advertising in the Yellow Pages include the ability to select a well-defined neighborhood as well as an entire metropolitan area, the various ad sizes and color options, and a relatively low cost for production and target reach. Disadvantages include the infrequency of placement-ads can only be placed once a year, the clutter caused by competitors' listings and ads, and lack of creative flexibility compared to other media options.
Flyers- You can use handouts or flyers at networking events or trade shows. They often contain a discount coupon to attract customers. This method can be a cost-effective way to reach a small market area since you can design flyers or coupons on a personal computer and have a printing service print hundreds of them fairly inexpensively. You can also trace how many customers are attracted to your business by counting the redeemed coupons.
Catalogs- The catalog industry has grown significantly. Firms such as L.L. Bean, Orvis, and Lands' End; have all enjoyed tremendous growth and success. Catalogs, however, are expensive to produce and send, and these costs are incurred prior to making any sales. It is important to develop a targeted customer list before investing in this advertising venue.
Labels:
Entrepreneurship
Marketing Tip 1
1. Grab your potential client’s attention.
Perhaps more than ever before, people are distracted and have a short attention span. Use a compelling, involving image to your advantage. If you’re creating a marketing piece with text, make sure to “sell” the reader with your first sentence.
The first sentence of anything you write – whether that is an email subject line, an opening to a promotional letter or the headline of an online ad – is the most important part of the whole piece.
After all, if the customer never starts reading, they’re zero chance of them reading anything that comes afterwards!
When there’s a lot of text, it’s not the reader’s job to stay interested and keep reading – it’s YOUR job to grab their attention and keep it. When in doubt, cut text down! Never make it longer than it needs to be. Don’t overload your potential customer or client with extra information and data in a business card, post card, flyer, or radio ad.
Perhaps more than ever before, people are distracted and have a short attention span. Use a compelling, involving image to your advantage. If you’re creating a marketing piece with text, make sure to “sell” the reader with your first sentence.
The first sentence of anything you write – whether that is an email subject line, an opening to a promotional letter or the headline of an online ad – is the most important part of the whole piece.
After all, if the customer never starts reading, they’re zero chance of them reading anything that comes afterwards!
When there’s a lot of text, it’s not the reader’s job to stay interested and keep reading – it’s YOUR job to grab their attention and keep it. When in doubt, cut text down! Never make it longer than it needs to be. Don’t overload your potential customer or client with extra information and data in a business card, post card, flyer, or radio ad.
Labels:
Entrepreneurship
Sunday, August 8, 2010
Top Ten Marketing Tips *Will be posted One a Day*
At one point of another, you’re probably heard that “marketing” is the key to successful business.
“If you’re not marketing, you’re not in business.”
Or, perhaps more harshly . . .
“If you’re marketing your business, you’ll soon be out of business!”
But something you may not realize is that “marketing” is not just about advertising and sending out smoke signals to bring in customers. At the heart of it, marketing is simply about effective communication to get what your want.
This is an essential skill not only for running a business, but also for being successful in all aspects of life.
If you can effectively “sell” your ideas to the masses – or even just to your smug boss – you could stand to make a LOT of money. Your ideas will earn more respect. Your confidence will grow, and as a result, your credibility among your co-workers will skyrocket.
Want to strengthen your relationship with your spouse? Communication + Getting What You Want = Marketing.
Need to train the dog not to sleep on the furniture? Yup, that’s “marketing” too.
Solid communication is essentially the key to the door of success – in all aspects of your life.
But for now, “back to business,” so to speak.
It’s agreed that in order to reach as many potential clients as possible, every business – large or small – needs to establish a well thought out marketing plan.
There are as many ways to market as there are businesses. Just to mention the most general categories, there’s Inter¬net/web, radio/TV, print ads (magazines, newspapers, industry journals, etc), and direct mail (postcards, flyers, etc). There are specific techniques and methods that apply to each of these methods, as well as different “tweaks” that would be employed for each type of business or product.
Still, there are basic concepts behind marketing that always apply, regardless of the company type or marketing method. Take a good look at these established “do’s and don’ts” list. There are probably at least a few tips below that you can incorporate into your business practice immediately to increase your marketing effectiveness.
“If you’re not marketing, you’re not in business.”
Or, perhaps more harshly . . .
“If you’re marketing your business, you’ll soon be out of business!”
But something you may not realize is that “marketing” is not just about advertising and sending out smoke signals to bring in customers. At the heart of it, marketing is simply about effective communication to get what your want.
This is an essential skill not only for running a business, but also for being successful in all aspects of life.
If you can effectively “sell” your ideas to the masses – or even just to your smug boss – you could stand to make a LOT of money. Your ideas will earn more respect. Your confidence will grow, and as a result, your credibility among your co-workers will skyrocket.
Want to strengthen your relationship with your spouse? Communication + Getting What You Want = Marketing.
Need to train the dog not to sleep on the furniture? Yup, that’s “marketing” too.
Solid communication is essentially the key to the door of success – in all aspects of your life.
But for now, “back to business,” so to speak.
It’s agreed that in order to reach as many potential clients as possible, every business – large or small – needs to establish a well thought out marketing plan.
There are as many ways to market as there are businesses. Just to mention the most general categories, there’s Inter¬net/web, radio/TV, print ads (magazines, newspapers, industry journals, etc), and direct mail (postcards, flyers, etc). There are specific techniques and methods that apply to each of these methods, as well as different “tweaks” that would be employed for each type of business or product.
Still, there are basic concepts behind marketing that always apply, regardless of the company type or marketing method. Take a good look at these established “do’s and don’ts” list. There are probably at least a few tips below that you can incorporate into your business practice immediately to increase your marketing effectiveness.
Labels:
Entrepreneurship
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