Marketing Your New Small Business.

William Kizer

Kizer IncorporatedMarketing & Communications

www.kizerincorporated.com

© Kizer Incorporated 2012

Introduction

This presentation was designed as a simple overview of advertising terminology and as a primer for the small-business owner who will be performing most of his or her own advertising duties.

Most of these basic rules were developed years ago, but they still hold true, even in an era of ever-increasing advertising and media possibilities.

It is assumed that your marketing budget will be meager starting out. This isn't always a bad thing. Your lack of funds will sometimes keep you from making expensive mistakes.

Just remember: 51% of the battle is consistency. It will take a steady effort, over time, to get the results you want.

What Is Marketing?

It is the tool/s you use to create interest, provide information, make a sale, build a reputation for your company, products or services.

It is finding prospects, persuading them and selling them.

It is an action taken that – you hope – will lead to a future sale.

It is advertising, but it is more than just advertising.

What Is Advertising?

Advertising is promoting your company or product – typically, but not always – through paid mass media via ad space, air time, outdoor displays, or another medium.

What Is Public Relations?

Public Relations is managing the communication between your company and its public/s. Sometimes this is through unpaid media – but all interaction with the public is PR.

What Is A Brand?

A set of perceptions about your company or product.

The mental image that your company name or product evokes in the public's mind.

Your brand is: your business name, location, signage, employee interactions, product selection and quality, prices, customer service, marketing materials and advertising.

The Steps To Marketing Your Business

Develop your selling message, your Unique Selling Proposition.

Define your market and understand your company's competitive position

Budget adequately – only amateurs think “all budgets start at $0.”

Plan your media mix.

Create your ads or commercials

Deliver your message with sufficient frequency – depending on your available budget. Be consistent.

Track your results, learn from your mistakes.

Step 1: Develop And Hone Your Message.

What can you deliver that your competitors cannot or not as efficiently, as affordably, with greater quality, attention, service, as well as your company can?

Don't advertise what you can't deliver.

Step 2: Identify Your Market Profile.

What is your customer/prospect demographic profile?

Their gender – male/female

Their age and race – 18-34, 18-49, 25-54, 50+, White, African-American, Hispanic, Asian

Employment category – blue collar, white collar, professional, retired

Their income level

Where do they live – proximity to business

Step 2: Identify Your Market Profile.

What are their lifestyle, interests, activities

Who uses the product or service

Who influences the purchase

Who makes the actual buying decision

How do they buy

How, where and when do they buy? Regularly, at long intervals, in an emergency. Is is a necessity, a staple, a luxury, an impulse purchase

Step 3: Set Your Marketing Budget

Only amateurs believe that “all budgets start at $0” – budget adequately.

5-10% of gross sales as a starting place depending on your business.

Don't forget your production budget – 10 to 20% of your marketing budget.

Step 4: Plan Your Media Mix

Select your primary, secondary and supporting media – each has strengths and weaknesses. Your goal is to eliminate waste – that is, advertising to people other than your target audience

Newspaper – wide reach, skews older demographically

Broadcast TV – powerful, targetable, expensive

Radio – both motivational and informational, but frequency is needed.

Cable TV – targetable, can be less expensive at times, but less viewership – only 60-70% of homes have cable.

Step 4: Plan Your Media Mix

Outdoor – Good to make an introduction, or to provide directions, good support or maintenance medium, a more expensive medium overall.

Direct Mail – Best for promotional use, highly targetable, quantifiable. Can be expensive per-impression.

Yellow Pages – good if your sales start there, even though expensive. It is an informational medium, not a motivational medium.

Internet advertising – important and growing in importance. Overtaking newspaper. A website is a must, but does not need to be expensive.

Step 5: Create Your Ads Or Commercials.

Inform, persuade, remind the viewer or listener.

Don't give in to cliches and worn out language that everybody uses and nobody believes.

Make your message memorable.

If you are trying to be funny – BE FUNNY.

Step 6: Track Your Results.

Track customer or floor count, average ticket amount, 'closing' percentage, gross sales.

Compare to previous periods – last month, last quarter, last year.

Track media scheduling or copy changes

Gather email addresses and stay in touch.

Creative Tips:

The A.I.D.A. Rule: Attention, Interest, Desire, Action – old fashioned but never forget it.

Headlines – Make sure the headline summarizes what follows in the body copy – in case the copy is not read.

Make your offer more than once – and call to action.

Don't just sell features – sell benefits.

Don't fall back on cliches.

Talk to one person in your ads – not a group.

Let people know the easiest way to find you.

Media Tips:

Marketing is an investment – there must be a return on that investment.

Cost is not the determining factor. What is the cost per impression for reaching your target audience?

Cheap isn't cheap if it does not work – it is expensive.

Media sales reps are interested in selling their inventory – they understand their business, maybe not yours.

William Kizer

Kizer IncorporatedMarketing & Communications

www.kizerincorporated.com

© Kizer Incorporated 2012