Archive for the ‘Marketing’ Category:
This recent article from Inc.com, “An Alternative to Discounts,” talks about four ways to reduce prices to your customers without cheapening your brand. These strategies can also be very effective for businesses just starting out.
- Simplify Your Product — if your customer doesn’t need all the features of your current product in all situations, is there a way to make a simpler (and therefore less costly) version?
- Make Distinctions — if there isn’t much obvious difference in features between your lower priced and higher priced versions, you are likely to dilute your brand and sell primarily the lower priced version. Use your packaging, point of sale displays, and marketing messages to make it clear that the higher priced version is a better value (features for price).
- Think Small — instead of creating lower-end versions of the same products, create more affordable with the same brand aesthetics as your main line. For example, an upscale bakery that usually does whole cakes could create individual portion deserts. More affodable, but with the same quality and image as their main product line.
- Choose a New Name — rather than marketing your new products under your existing brand, establish a new name just for the lower end products. You could have your new brand with a tag line referencing your old brand — in the bakery example, Indulgences brough to you by Supreme Bakers.
There are many ways to provide a lower price point product that will appeal to your existing and new customers without diluting the value proposition of your current brand if you approach the task creatively and with some input from your customer base.
Starting a Business? Start Here. Go Far. LaunchX.com
Recently I picked up a marketing handout at our local skating rink for a self-defense/martial arts studio. There were several things about it that made it an excellent first-contact marketing piece:
1 – Size – It was about 3″ x 4″, so bigger than a business card but still small enough to put in my pocket and take with me.
2 – Colors – The colors were bright reds, yellows and white — eyecatching without being obnoxious.
3 – Information – All the information I’d need to contact them was included: phone number, adddress, and website URL.
4 – Content – The back of the card was printed with “street safety” tips of what to do in some emergency situations, such as being mugged, locked in the trunk of a car, and, heaven forbid, being threatened with a gun.
When you put those four things together, the marketing piece served as an excellent way for me to find out about their business, consider them experts in their field, and keep their information until I had time to make contact. When you are starting a business, consider these four factors when you are creating your first-contact marketing pieces.
Starting a Business? Start Here. Go Far. LaunchX.com
Detlef Schobert at the American Express OPEN Forum stated recently ”Businesses succeed when they produce something special, something different than what can already be found out there.” This is especially true when you are starting a business. It is not to say that you must have something that has never been seen before, but only that you have a unique approach, something that sets you apart from the competition. A few examples of unique approaches that I’ve seen recently:
- A florist with concierge service — you sign up, tell them your important dates and occasions, give them the names and addresses of the recipients, and they call you prior to the date to take your order, recommend specific arrangements, and then send it all out. No more forgotten birthdays and anniversarys.
- A dog training business that provides all types of classes — from basic puppy manners through competitive conformation, obedience and agility. Their unique selling proposition is that they have everything under one roof, something not available at any other facility in town.
- A plumbing repair business that provides all services on a fixed price basis. You pay a flat rate to fix a leaky faucet, no matter whether it takes them five minute or five hours to do the job.
Your unique selling proposition can be related to the products or services you offer, the customer service you provide, the shopping or dining atmosphere, the pricing structure, the customer follow-up, or your guarantees. What is important is that you identify what makes you different from the competition and use that as a basis for selling your business!
Starting a Business? Start Here. Go Far. LaunchX.com
I’ve been saying for quite some time that every business, startup or established, must have a web presence. A website is the online equivalent of a business card, brochure, and yellow pages ad all rolled into one. No matter what your business is, you must have a web presence. There is one other thing that every business, big or small, just starting out or in business for years must have: a Customer Contact Database.
Now, don’t let the word database throw you into spasms of “not more software” and “it’s too complicated.” In its most simple form, your customer contact database could be a box full of index cards with each customer’s name and contact information. At least, if you decided to do a mailing or promotion, you would know how to contact people.
There are a number of slightly higher tech solutions available, and the more specific the software, the more features you are likely to have.
- Keep contact information in your eMail software.
- Keep contact information in a spreadsheet.
- Use a contact management software such as ACT!
- Use a commercial service to manage your list (such as ConstantContact or VerticalResponse).
- Hire an outsourcer to manage your list.
I don’t care which method you choose to manage your customer contact information, but please choose one and start gathering that information now!
Starting a Business? Start Here. Go Far. LaunchX.com
Recently, I attended a cooking demonstration at a local store. They did an excellent job. The demonstration covered exactly what it was advertised as. There weren’t too many people, so everyone could see what was being prepared. They kept everyone engaged for the full hour, and the samples at the end tasted as good as they looked.
The presenter used less than five minutes to display new products that were used in the preparation and point out where to find them in the store — not intrusive or distracting at all. So why do I bring this up in a blog post? Because they did make one major mistake. At no time in the entire process did the store get my name, number or email address. Not when I signed up for the class. Not when I arrived for the class. No “evaluate the class card.” No nothing.
Every business, no matter what you are providing to your customers must have some way to stay in contact with those customers. I’ve never purchased anything from that store yet, and while the class made me more inclined to go back and browse and shop, the store has no way to remind me of my great experience, no way to thank me for coming, no way to notify me of upcoming classes, and no way to connect with me.
Of course, not everyone who attends a class or demonstration will be willing to share their personal information. But you never know until you ask! Don’t put the time and effort into providing a high quality experience without remembering to ask for information and then put that information into your contact database. Don’t have a database? Tune in tomorrow for some thoughts on that!
Starting a Business? Start Here. Go Far. LaunchX.com
There is an old adage…”If you aren’t the lead dog, the view never changes.” This is true in business, as well. If you aren’t leading the competition in some area, then you are always trying to play catch-up to the leaders. How do you know if you are in the lead? One way is that if your competition is copying you, then you are in the lead in that area. Have you noticed how all the other sub sandwich chains are now offering “toasted” sandwiches?
This doesn’t mean that you have to be out ahead of your competition in every aspect of your business, but that you have something that makes you better than your competition. And, it means that you need to constantly evaluate whether your unique selling proposition (USP) is still unique in the marketplace. Once your competition starts copying you, you’ll have to change or improve to stand out again.
Starting a Business? Start Here. Go Far. LaunchX.com
I received an eMail recently from a supplier of legal services to business startups. They have declared February “National Start a Business Month.” I looked on the internet to see which organization was behind it, and couldn’t find any other references to it. However, that didn’t diminish the power of their marketing message — purchase their services and get a business started in February. It obviously got my attention!
What business are you in? Do you need a marketing boost? Maybe you should declare February National Month for your business. Check with your trade association — they may already have a National Week or National Month in the works.
Starting a Business? Don’t Know Where to Start? Start Here. Go Far. LaunchX.com
If you, like me, find yourself strangely intrigued by the way infomercials are mesmerizing in the middle of sleepless startup nights, this article by Steve Straus from USA Today, has some great lessons we can all learn about marketing from infomercials. In summary:
- Enthusiasm is Key — There is a reason those informercials catch your ear…the sheer enthusiasm of the pitchman.
- Show the Need — Many people don’t realize they need the product until the infomercial shows them they do.
- Keep the Solution Simple — Show that your product is a simple way to meet that need you’ve just shown.
- Testimonials Lend Credibility — Use testimonials from satisfied customers to add credibility as well as a “me too” element to your sales.
- Ask for the Sale -Right Now! — Provide an incentive for your prospect to buy now or contact you today.
Starting a Business? Start Here. Go Far. LaunchX.com
This past weekend, our daughter was involved in a co-marketing event for girls hockey as part of Hockey Weekend Across America and the new movie “The Tooth Fairy.” In addition to giving a hockey demonstration in the lobby of our local Regal Cinemas, the girls were also handing out brochures about the local girl’s hockey program to movie goers. She did a great job talking to people and getting the brochures in the hands of people that have daughters, but we all learned some lesssons:
- Some people are going to say no. Always thank them for their time.
- Some people are going to pretend you don’t exist. Say thank you to these people too!
- Some people may not be in your target market — don’t ignore them — you never know who they may know that is in your target market.
- If you don’t make the first move, you may not have anyone to talk to.
- Always smile.
No matter what your business, there will be times that you need to do direct networking. Remember these networking lessons the next time you have the opportunity to talk your business up!
Starting a Business? Start Here. Go Far. LaunchX.com
I just ran across this free ebook, “How to Grow Your Twitter Followers — On Autopilot.” by Bill Platt. Bill writes in a very accessible, engaging style and the plan he lays out for using Twitter in your marketing efforts is smart, easy-to-follow, and based on sound marketing principles.
His book is based on two principles:
- It is better to have 400 followers that are listening to what you have to say than 4,000 followers that ignore your posts.
- Your followers want to read content, not advertising, so tweet 80-90% informational tips and only 10-20% ads (or less!)
With the advent of social media as a marketing tool, there are so many platforms and places to engage your customers. Use Bill Platt’s newest free eBook to help you decide what role Twitter will play in your marketing efforts! You can follow us at http://twitter.com/LaunchX.
Starting a Business? Start Here. Go Far. LaunchX.com
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