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BUS 211_Mktng_AdvrtsngPrt_II_ Spring 2006 SCC


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									Marketing Strategies for Small

            BUS 211_Mrktng&Advtsng
         Springl 2006    Copyright. sjh
    This Certificate Confirms the Successful Completion
          of 12 Small Business Short Courses by

              Sue M. Patzer
                    at Solano Community College:

Starting & Managing a Small Business      Business Budgeting        Starting a Home-Based Business
Financing a Small Business Planning for Profit         Small Business Recordkeeping
Business Financial Management             Selecting Employees       Marketing & Advertising
Managing Credit & Collections             Employee Relations        Risk Management—Insurance

Charles D. Eason, Director, SBDC    John T. Urrutia, Dean, Business Division
Solano Community College Solano Community College
 S W O T
            Strengths (of the business, or yourself)
        Weaknesses (of the business, or yourself)

             Opportunities (in the marketplace)
                    Threats (in the marketplace)
 The    3 R’s of Target Marketing
• Researching Your

• Reaching Your

• Retaining Your
              Promoting Yourself
            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
• What will you do with those
  business cards?
      •   Hint: Start a Customer Database!
       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 – think of as 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, or certain imported
• Positioning - More likely (often) 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 McDonald’s Dollar Menu, or a hair salon that has a
   $39 perm special.
     Implementation of Marketing
    Strategy: MORE Useful Small Business Strategies
• Niches    finding a segment of the market that is
 untapped and grab the customer’s attention.

• Star    First, where you are a star, or partner with
 one (a local celebrity). Second, when you use the
 name of a star to draw attention (ex: George Forman

• Benefit    People don’t buy features, they buy
 benefits! Remember to market the BENEFITS! Tell         Most small
 them the Benefits                                       businesses
                                                         use two or
           Overnite Web Design
           Clean as a Whistle Janitorial
         What is in a Name?

The name should:
 Contain the Marketing Strategy
 Describe the business
 Show a Benefit for the
 Be an attention-grabber
 Be easy to remember
    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
           The Bookkeeping Company
           For Timely Financial Statements

           Business Perspectives
           Business Consulting from insight to action
• Takes planning, time, persistence
  and money!
• Image / Identity are 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
         Tracking Your Advertising Dollars
    You 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,
and/or by whom. Thank the referrals.
• Many small business owners join Leads groups to
help stimulate referrals.
        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?
 We need to use a Marketing Strategy in the
 Size is not always the biggest attention
grabber..it is the message!
   Service Directories & Classified
 Service Directories appear in most newspapers,
before the classified.
 Many papers will have “special sections” or
special inserts for certain industries. Call them to
find out.
 Solano County is unique due to the many local
 The advantage of a Service Directory is that you
can change or drop the ad at anytime
 Classifieds are also like Yellow Pages, where you
are listed alphabetically.
 You can test the effectiveness by advertising once
(Sunday) before paying for a whole month, or year.
         Door to Door Flyers
 Still one of the most cost effective methods of
getting the word out.
 Take the time to design a “professional” flyer..it
can be the standard 8½ 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 works for some
businesses and not for others!
          Direct Mail Techniques
→ Direct Mail means you send out a brochure, flyer, catalog or
  cover letter to a prospective client(s).
→ The real success lies in your database of potential clients
→ The more you know about 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 names. The more ‘targeted’ the higher the
→ Starting your own Database Marketing is critical
            (ex: start today with the members of the class)
→ Many small businesses will “grow” their own lists through
  chamber mixers, trade shows, etc.
→ Follow-up is a critical element. Keeping the contact
  information up-to-date is essential too.
           Alternative Marketing:
    Other means to get the message out!
Displays at Trade Shows or Community Events
Community Involvement:
     ex: sponsor a Little League team, or an informative class
Sponsor an Athletic Event or a Fun Run
Utilizing Networking or Leads Groups: Letip
Promotional Gimicks: Fobs and magnets
          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?
        What other marketing pieces direct the clients to this
        webpage (is your email or website on your brochure)?
 Publicity has been defined as “free advertising”
(unfortunately there is little control over it)
 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 annual
 Become a “specialist” in your community
 Time your Press Release and/or PSA at least 2
weeks before an event
 Speak to classes or publicize your unique
service at a Rotary Meeting, etc.
     Promotion - the Power of this P
• 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 or services
       – Generate referrals and interest for your business
       – Present your image
• Promotion includes advertising, marketing,
  networking and publicity.
        The Pro’s & Con’s of PR
           PROS                                Cons
•   PR is cheap or FREE,         • Most small businesses make
    but it can be worth a lot!     the mistake of not adding it
•   You can save a copy of         into their marketing mix.
    the article and show it      • Most small businesses do
    again and again!               not target their Publicity.
•   It builds credibility and    • It can be an one-time shot.
    promotes your image!         • Often times it is not
•   It can be used to              “controlled.”
    enhance your                 • BIG Media isn’t always the
    advertising!                   best channel.
•   There is always a            • Publicity is like selling..it may
    publicity angle!               take a lot of leg work!
             What is Publicity?
Public Relations, aka PR…”public” =
  any group who might have an interest
  on the ability of your company to
  achieve its objective.
PR is a variety of programs designed to
  promote or protect a company’s image.
Publicity Includes: Press (Public)
  Relations, Product Publicity, Corporate
  Communication, Lobbying, Counseling
The Final R: Retaining Your Market
      Customer 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 is the heart of staying
in business and growing (and profiting)
 Customer Relationship Management
is a key element in our Growing for       “80% of your
Sales & Profit Class.                     business comes from
                                          20% of your
 For now, remember to focus on the       customers”
customer (internal & external)!
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