Profitable Small Business Marketing Strategies and Tips: Part Two
In my previous article (part 1), I discussed marketing keys, marketing plan components, and creative marketing. I will now go into specific, profitable marketing methods and strategies that you can use today to increase exposure and profit for your business.
MARKETING METHODS
Internet
-Very specific and extremely economical.
-Extremely interactive
Journals
-Target your niche
-Create credibility
-Establishes identity and brand
TELEVISION
-Can be very profitable
-Ideal for demonstrations
Direct mail
-Highly directed
-Media that allows you to go through the entire sales process.
-Extended with Follow-up Mailing and Telemarketing is very effective
scrutiny
Provides personal contact, which can be most effective
-Backed up by targeted mailings and TV advertising increases your conversion rate
outdoor billboards
-Constant reminder
-Especially good for “Next Exit” location targeting
indoor signs
-Capitalize on your marketing momentum
-It can be the most important sign, even more crucial than exterior signage
-Signs do not have to be static: ie video message, slideshow, etc.
online marketing
-Absolutely the best medium that economically combines high interactivity with action
-Examples: Email, video and audio postcards, forums, blogs, websites, text messages
-Very effective when based on content
-Potential customers are not limited by time.
-Good, targeted and up-to-date content means repeat visits from customers
-Excellent means of follow-up, reselling, cross-selling and up-selling
-Exponential results when complemented with offline marketing
classified ads
-Very profitable for a broad customer base
-Targets the best prospects
-Face your competition head on
brochures
-Only effective if combined with online and offline marketing
-Always a good after-sales piece so that the client continues thinking of you
– Code the brochure, ask the client to distribute it and provide discounts or referral fees.
Phone
-Telemarketing is only effective if it is part of an optional marketing campaign, either online, offline or both.
reminder tools
-The refrigerator magnet is the most effective
-Double-sided or folded business card providing mini-brochure capabilities
Fairs
-Focused and motivated prospects.
-Consider online versions
Advertising
– Marketing driven by public relations can be profitable. Establish reputation and credibility.
Community relations and sponsorship
-Establish powerful contacts and connections
-Great for image
-Great constant reminder
-Create an advantage over the competition.
-You have to be honest.
COMBINED MARKETING TOOLS AND METHODS
Creative strategic marketing is based on developing multiple marketing tools in concert to achieve a creative out-of-the-box strategy with competitive advantages. Marketing methods need to be integrated together for each cohesive marketing strategy and then adjusted as the campaign progresses and develops. Personally, I think that one of the deadliest combinations of Marketing Platforms are:
–Development of a content-rich presence on the Internet
–Online Marketing via Opt In
–Advertise free articles, newsletters, guides, webinars, etc. in a targeted magazine ad
This combination of print and online marketing is very profitable, but lucrative. Explore the possibilities.
The important thing to keep in mind when running multiple marketing tools, forums, and methods in a synergistic strategy is to carefully track and monitor the results, making key changes as the initiative unfolds. This is where an online/internet marketing platform is so valuable because it can deftly track results (ie conversion rate, response rate) in real time.
ONLINE MARKETING CALENDAR
A good marketing calendar is based on a 52-week year and helps considerably in planning and budgeting for a marketing strategy. At any time, you can determine the best ads to run, what needs to be in inventory for anticipated sales, project costs, and projected sales. The calendar should be an online platform for maximum interactivity, utility, access, flexibility, and integration. The marketing calendar must be fully integrated with the marketing strategy, strategic plan, and budgeting process for maximum utility. The calendar should be in an expandable spreadsheet format to reveal all the details needed for each marketing method within an overall strategy.
PROFITABLE MARKETING STRATEGIES
Profitable marketing doesn’t have to be expensive! Some tips to save costs:
Cooperative Advertising
-You can save more than 50%. Partner with a bigger company, get their name mentioned, and get paid for the promotion. Spread the cost of the ad among other advertisers.
By Order or Inquiry Form of Payment
-Advertising costs subtracted after a defined sale or event.
Survey your current customers
-It costs pennies to do, but gives you the latest market trends. Also, it gives you the opportunity to cross-sell or up-sell the customer at the same time.
Back-end products and services
-Bundle your offers to minimize your marketing cost per sale.
Code your ads
-The codes allow you to track and measure the results of your marketing strategy. In advance of the campaign launch, you can adjust for maximum profitability.
-Online tracking is the most beneficial and cost-effective means of keeping your marketing costs in line with your budget, while giving you the most profit for every marketing dollar spent.
Don’t use a rate card
-Make an offer on all your advertising – rates are always negotiable.
-A 30-second TV spot can be as effective as the most expensive 60-second spot.
-Touch the space of the Remnant magazine
-Additional unused ad space is sold at a significant discount.
Tips for TV Ads
-Tight scripts and excellent pre-planning reduce time costs.
-Make your ad in 3-4 rendering motion sessions.
-Use a production studio outside of peak hours.
Focus Efforts on Established Customers
-Customers are 85% cheaper to market; Maintain a good balance between Customer and Prospect marketing efforts.
– Exponentially expand your sales, profitably, through a Customer Referral Program.
-Up-sell, cross-sell, cross-promote
Combined Marketing
A very profitable and successful combination is to pair a magazine ad with a website. Offer a FREE newsletter, guide, eBook, etc. and become an expert; pull data from prospects on a permission based, Opt In; Follow up the free offer with product and service offers. All of your marketing efforts, media, tools and campaigns must be done in concert and combined, as the results are exponential and the media is profitable.
Web-page design
-Web Design, Development and Optimization is very important, crucial in fact, but it can be very expensive. –To reduce web design costs:
–Create your own content
–Write articles on areas in which you have Expert or Knowledge status
–Look at the web and decide how you want your site to look and outline it, as well as organize the link structure. Then have a designer build the website in an easy-to-use content management system, and you input all the content. Have the designer/developer review the site after input from her for search engine optimization tips.
Tip: Consider hiring a web designer/developer from abroad, such as from China or India, etc. They charge around $30 an hour (or less) for $75 – 100 an hour. Be sure to carefully review the Designer/Developer’s credentials, references, and previous projects to ensure credibility and reliability.
In the next article on profitable marketing for small businesses, I’ll talk about marketing research and targeted marketing. Stay tuned!