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BUS 211_Mktng_AdvrtsngPrt_II_ Spring 2006 SCC

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									Marketing Strategies for Small
         Businesses




            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
  Market

• Reaching Your
  Market

• Retaining Your
  Market
              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
  use
• 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
   autos.
• 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
 Grill).

• 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
                                                         more
           Clean as a Whistle Janitorial
                                                         strategies!
         What is in a Name?

The name should:
 Contain the Marketing Strategy
 Describe the business
 Show a Benefit for the
 customer
 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
  attention
           The Bookkeeping Company
           For Timely Financial Statements

           Business Perspectives
           Business Consulting from insight to action
                   Advertising
• 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
Advertisement.
 Size is not always the biggest attention
grabber..it is the message!
   Service Directories & Classified
                 Ads
 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
papers
 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
  price.
→ 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
  (www.TSNN.com)
Community Involvement:
     ex: sponsor a Little League team, or an informative class
Sponsor an Athletic Event or a Fun Run
Telemarketing
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
           FREE ADVERTISING!
 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
events
 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
 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)!
                 Review
• Comments

• Questions

• Please turn in your suggestions

• Please turn in your group work

								
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