Transcript score.org
High Speed Growth: Marketing Strategies 1 2 The SCORE Foundation would like to thank for showing their support of America’s small businesses by sponsoring this series. The content provided in the Simple Steps for Growing Your Business materials is intended as a business resource only and does not guarantee a successful outcome when applied to individual business use. To find additional resources on growing your business, visit www.score.org and www.openforum.com 2 3 Identify Your Marketing Goals 3 Have Your Business Needs Changed? Andrew Dunn • Target customers • Existing customers • New customers • Product or service mix • Price point • Budget • Sales channel 4 Market Research Understand your target market: • Size • Income level (consumer) • Sales (business) • Purchasing habits John Christakos, Maurice Blanks & Charlie Lazor • Demographics • Purchasing channels • Geographic location 5 Market Data Sources Indirect Research from Others: Your Direct Client Research: • Trade associations • Census data • American FactFinder (http://factfinder.census.gov) • EconomicIndicators.gov • Fedstats.gov • National Bureau of Economic Research (www.nber.org) • Harris Infosource (www.harrisinfo.com) • Hoover’s (www.hoovers.com) • ThomasNet (www.thomasnet.com) • Customer surveys (SurveyMonkey.com, Zoomerang.com) • Internet research • Social media • Focus groups • Conversations 6 Is Your Brand Clear? • Branding is not the same as marketing • Branding is the image, logo and positioning of the product or service Martina Arfwidson & Gun Nowak 7 3 Steps to Brand Creation 1. Identify unique selling proposition 2. Understand target market 3. Communicate brand consistently Mark Pascale 8 Competitive Analysis • Analyze the marketing methods used by your competition • Would similar methods work for you? John Blancher 9 Social Media Marketing 10 Social Media and Your Business Social media can help you: • Increase sales • Drive traffic to your site or store • Learn about competitors • Find potential partners Steve Sulkin Before using social media, know: • What social media tools your customers use • What you hope to achieve 11 Marketing With Facebook Users: • Biggest social network – over 500 million • Wide age range of users • Majority women Good for: • Consumer businesses • Products that inspire “fans” • Building community • Targeted ads 12 Marketing With LinkedIn Users: • Professionals • Focused more on individuals, less on companies Good for: • Business-to-business (B2B) contacts • User groups for market intelligence • Getting known as an expert • Prospecting for customers 13 Marketing With Twitter Users: • 8 percent of U.S. Internet users* • Young, affluent, urban • Influencers Good for: • B2B and B2C • Timely news/deals • Mobile users • Brand building • Promotions *Source: Pew Internet and American Life Project 14 Social Media Tips • Get personal • Engage with others • Be helpful • Update regularly • Keep learning Kris Wittenberg • Use analytics • Understand time commitment 15 Marketing With a Website 16 Benefits of a Business Website Peter Argondizzo • Creates awareness • Helps customers find you • Builds credibility • Drives sales • Enhances customer service • Provides additional sales channel (e-commerce) • Gives you national/global reach 17 Developing an Effective Website Marta E. Maxwell • Determine goals • Overall business strategy • Overall marketing strategy • Development requirements to include: -Ease of use -Sales -Customer service -Branding -Search 18 Elements of Your Website • Domain name or URL (www. yourbusiness.com) • Web hosting service • Website design Many providers offer package options that include all three: • GoDaddy.com • IMSMB.com • NetworkSolutions.com • Web.com 19 Principles of Website Design User-focused Simple to navigate Consistent with your marketing message Direct users to take action 20 Search Engine Optimization SEO = driving traffic to your site via organic search results • Create quality content • Use targeted keywords • Measure results 21 Web Analytics Web analytics can measure: • Number of visitors • Number of page impressions • Average visit length • Most popular site entry pages • Where users come from (sites or search engine phrases) • Number of inquiries, leads or sales generated • Conversion rates • Total sales volume online • Average purchase per online customer Use analytics to determine if your site is achieving your goals 22 Online Marketing 23 Ratings & Review Sites Feature customer reviews and ratings of businesses • Bing Local • CitySearch • Google Places • Insider Pages • Local.com • Merchant Circle • RatePoint.com • Yahoo! Local • Yelp! Don’t forget niche sites for your industry, region or city 24 Maximize Ratings & Reviews John Christakos, Maurice Blanks & Charlie Lazor • Claim your listing and optimize it with: - Photos - Description of business - Maps/directions - Special offers • Monitor accounts • Respond to negative reviews • Convert users to buyers • Learning tool 25 Group Deal Sites • Groupon • LivingSocial • SocialBuy • Local sites in your community 26 E-Mail Marketing Jennifer Behar • Collect e-mail addresses • Post a privacy policy • E-mail options: - Newsletter: Monthly, weekly, daily - Sales or specials: Weekly or as needed - Announcements - Event invitations 27 E-Mail Resources Visit the FTC website (www.ftc.gov/spam) for information on the CANSPAM Act Email Services: • Benchmark E-Mail • Campaigner • Constant Contact • iContact • Microsoft Office Live Small Business E-Mail Marketing service (smallbusiness.officelive.com) 28 Online Advertising Options • Link exchanges • E-mail newsletter advertising • Pay-per-click (PPC) • Banner ads 29 Traditional Marketing 30 Marketing Materials Do your marketing materials need a makeover? Do they still reflect your brand? • Logo • Signage • Business cards • Brochures • Website 31 Marketing Materials Low-Cost Resources: • 99Designs.com • CrowdSPRING.com • Elance.com • Freelancer.com • Guru.com • Inkzoo.com • Logoworks.com • Marketsplash.com • VistaPrint.com 32 Advertising Options • Print (newspapers, magazines, community publications) • Radio • Cable TV • Direct mail (postcards, letters) 33 Public Relations • Create press release following standard format • Target to specific media outlets • Distribute your release • Follow up 34 PR Resources Writing press releases: • PR Newswire’s PR Toolkit (http://toolkit.prnewswire.com) David Lomakin Distributing press releases: • FreePressRelease.com • PR.com • PRLog.org 35 Event Marketing • Good promotional tool for businesses with local customers • Sponsor an event or host your own Karen Bevels Tips: • Set goals • Make it relevant • Promote • Gather customer info • Follow up 36 Customer Loyalty Programs Keep customers coming back with loyalty programs that can include: • Loyalty cards • Geolocation websites • Discounts and special offers • Events • Giveaways 37 Is It Right for You? In evaluating marketing options, ask: • Will this help achieve my goals? • Will this reach my target customer/s? • Does this fit my budget? (Typically 3% -10% after 1 – 3 years) • Do I have adequate staff to implement? 38 For More Information SCORE www.score.org SCORE (Local Chapter) www.scorechapter.org American Express Open Forum www.openforum.com 39