10 Low-Cost Marketing Ideas
By admin | December 24, 2008
1.Press Releases. Write and distribute press releases that are newsworthy, and send them to newspapers, magazines, and television and radio stations. If only one media outlet airs the story, you’ll have free access to thousands of people. Design the headline to grab readers’ attention in as few words as possible. Use active verbs. Get to the point quickly, with a lead sentence that will draw the reader into a convincing piece.
2.Trade Shows. Renting space at a trade show can be expensive, but the best shows are a great way to build your business. Have plenty of promotional materials ready to hand out to interested people. When the show’s over, follow up. Call your leads in order of importance, but get in touch with all of them within seven days. Above all, keep every promise made at the booth.
3.The Internet. Establishing a home page for your business is relatively inexpensive and can reach many people. Use newsgroups that focus on areas similar to your line of business to draw attention to the site. Always include a phone number or email address so that interested visitors can contact you. If you are a retailer, consider putting photographs of your products online, even if you’re not ready to let people to order your wares over the Internet.
4.Direct Mail. Direct mail results depend largely upon how much you’re willing to spend on finding your target market and delivering quality materials to them. The per-customer cost is much higher than you’ll pay for print ads, but if you create a finely tuned list of recipients, you will reach more highly qualified prospects. Few small firms are qualified to do their own direct mailings, so find a reliable specialist to do the work for you. Interview at least three or four mailing list vendors before you commit your money to a direct mail campaign.
5.Yellow Pages. Most ads get turned into fishwrap within days, but consumers hang onto the yellow pages all year. Remember to cross-reference your listing. If you do yard work, for instance, list your business under landscaping, maintenance and home improvements. You want your ad to stand out, so consider springing for a larger ad or perhaps even hiring someone to design it.
6.Public Service. This is a great chance to do well by doing good. Sponsor the Special Olympics or participate in the annual Rotary Club Christmas Tree sale in your area. Donate your product to local charities or speak to students at area schools about your business. All of these are terrific ways to position your company in a positive light in your community.
7.Games and Premiums. Periodic prize drawings can help create interest in a retail store or other business. Promotional materials like T-shirts, coffee mugs or pens emblazoned with your logo also help spread the word.
8.Business labels. Low cost and effective. Place your business labels on ALL your outgoing mail. Customer is sure to remember.
9.Email Signature. Great for any business. Customize your message to appeal to your target market.
10.Implement.
Annette Thomas is a freelance writer and professional marketer. She has recently launched her online e store, Giftboxedbaskets.com.
Giftboxedbaskets.com is an online retailer of handmade gift baskets, gourmet food baskets, holiday gifts, corporate gifts, and more. You may visit online at, http://www.giftboxedbaskets.com.
Getting the Most Out of Trade Shows
By admin | December 9, 2008
As an exhibitor, you want to use a trade show to reaffirm existing business relationships, identify new customers and potential partners, and scope out the opposition.
Planning
Success starts with identifying the right show or shows for your business. Check with your industry or trade association for referrals and a show schedule. Many groups have Web sites, and other Internet resources offer good starting points to find schedules and contact information.
Preparation
Once you make your show selection, prepare to exploit the opportunity. What
Tags: corporate gift baskets, executive gifts, flowers, gift baskets, home based business, promotional productsMarketing 101
By admin | November 13, 2008
Marketing is based on the importance of customers to a business and has two important principles:
1.All company policies and activities should be directed toward satisfying customer needs.
2.Profitable sales volume is more important than maximum sales volume.
To best use these principles, a small business should:
* Determine the needs of their customers through market research.
* Analyze their competitive advantages to develop a market strategy.
* Select specific markets to serve by target marketing
* Determine how to satisfy customer needs by identifying a market mix.
Market Research:
Successful marketing requires timely and relevant market information. An inexpensive research program, based on questionnaires given to current or prospective customers, can often uncover dissatisfaction or possible new products or services.
Market research will also identify trends that affect sales and profitability. Population shifts, legal developments, and the local economic situation should be monitored to quickly identify problems and opportunities. It is also important to keep up with competitors’ market strategies.
Marketing Strategy:
A marketing strategy identifies customer groups which a particular business can better serve than its target competitors, and tailors product offerings, prices, distribution, promotional efforts, and services toward those market segments. Ideally, the strategy should address unmet customer needs that offer adequate potential profitability. A good strategy helps a business focus on the target markets it can serve best.
Target Marketing
Owners of small businesses usually have limited resources to spend on marketing. Concentrating their efforts on one or a few key market segments - target marketing - gets the most return from small investments.
There are two methods used to segment a market: Geographical segmentation - Specializing in serving the needs of customers in a particular geographical area. For example, a neighborhood convenience store may send advertisements only to people living within one-half mile of the store. Customer segmentation - Identifying those people most likely to buy the product or service and targeting those groups.
Managing the Market Mix
Every marketing program contains four key components:
* Products and Services
* Promotion
* Distribution
* Pricing
These are combined into an overall marketing program.
Products and Services - Product strategies may include concentrating on a narrow product line, developing a highly specialized product or service, or providing a product-service package containing unusually high-quality service.
Promotion - Promotion strategies include advertising and direct customer interaction. Good salesmanship is essential for small businesses because of their limited ability to spend on advertising. Good telphone book advertising is also important. Direct mail is an effective, low-cost medium available to small business.
Price - The right price is crucial for maximizing total revenue. Generally, higher prices mean lower volume and vice-versa; however, small businesses can often command higher prices because of their personalized service.
Distribution - The manufacturer and wholesaler must decide how to distribute their products. Working through established distributors or manufacturers’ agents generally is easiest for small manufacturers. Small retailers should consider cost and traffic flow in site selection, especially since advertising and rent can be reciprocal: A low-cost, low-traffic location means spending more on advertising to build traffic.
The nature of the product or service is also important in siting decisions. If purchases are based largely on impulse, then high traffic and visibility are critical. On the other hand, location is less a concern for products or services that customers are willing to go out of their way to find. The recent availability of highly segmented mailing lists, purchased from list brokers, magazines, or other companies, has enabled certain small businesses to operate from any location yet serve national or international markets.
Annette Thomas is a freelance writer and professional marketer. She has recently launched her online e store, Giftboxedbaskets.com. which is an online retailer of handmade gift baskets, holiday baskets, gourmet food baskets, corporate gifts, and more. You may visit at, http://www.giftboxedbaskets.com
Tags: corporate gift baskets, executive gifts, flowers, gift baskets, home based business, promotional products