2009 Small Business Marketing Guide

As a business owner you know that marketing is one of the most integral parts of driving your bottom line. Sales keep you in business, but marketing keeps you in sales. However, marketing does not have to be expensive. In fact some of the best ways to build a small business are through inexpensive marketing strategies. Listed below are some great ways to build your business without burning a hole in your pocket.

Chamber of Commerce Councils:
The general chamber can be too big and not worth the effort if you're in the city (Jacksonville is second largest in the US for example). I suggest starting by choosing a local council to get involved with. For those in Jacksonville, check out the following link which has a listing. (http://www.myjaxchamber.com/general.asp?id=572) The women's council in Jacksonville is very strong and the networking is phenomenal. Not in Jacksonville? Just google “[city name] chamber of commerce.”

American Marketing Association:
Develop relationships with people who get what marketing is all about. Business is all about relationship building. This a good source for building your natural market since most of these people are professional networkers and marketers. Listed below is the link to find a local chapter.(http://www.marketingpower.com/Community/_layouts/FindaChapter.aspx)

Search Engine Optimization:
Websites need to be submitted properly to all search engines in order for them to start showing up in people's searches. Use map tools to get your business to show up on google maps, mapquest, etc. Identify appropriate key words for your website. Having appropriate keywords is helpful to boosting your websites search rankings. The better your content and keywords, the better quality of the visitors that go to your site.

Not sure how to set up Search Engine Optimization? Be careful when considering hiring an SEO consultant. Many are novices and deliver poor results, causing you a loss on your investment. Consider doing some basic research to understand what SEO is and how it can help your business. Tangent specializes in creating effective web marketing strategies. We offer SEO packages as well as per hour work.

Here is an informational link: http://en.wikipedia.org/wiki/Search_engine_optimization

Craig's List for Recruitment:
You can also post listings on Craig’s List (www.craigslist.com) for business opportunities and it is free and is a huge resource for both job seekers and job posters.


Social Networking:
Online social networking communities (facebook, myspace, linkedin, etc.) are growing rapidly and can be used effectively to promote your business and products/services, many times for free. Here is an article on how to get started and doing effectively.

http://www.insidefacebook.com/2008/07/28/facebook-for-business-what-it-needs-what-it-has/

www.myspace.com
www.facebook.com
www.linkedin.com
www.twitter.com

Trade Associations:
Look at the statewide as well as local trade organizations. Many times you can sponsor meetings or be an associate member. This will give you some opportunities to get in front of your target audience. Listed below two examples of Florida trade associations. Almost all professions have some sort of association, and many of them have a statewide association with chapters in individual cities.

Examples:
http://www.fcachiro.org/
http://www.ficpa.org

Not in Florida? Just search google or yahoo to find one in your state.

Printing Costs and Production:
Kinko’s and other print shops are extremely expensive. As an example, Kinko’s may charge around ¢.50 per color copy. Our company’s rates start at just ¢20.9 per color copy and ¢3.9 per black and white copy. We also deliver right to your home or office.

Marketing your Business’s Events:
Press Releases - Write up press releases. It is important to know how to write an effective release. Poorly written releases end up in the trash. It is well worth the investment to find someone with experience to write them. Tangent charges between $20.00 and $40.00 for a professional release and submission to local newspapers.

Newspapers - Do some research and see if your paper has a column about your area of expertise. Start submitting content to them. Write something original. Remember, if it's published in the paper you are an expert in your field. If you’re short on time, consider outsourcing the work to a marketing firm. They can conduct research and put together professional work. Tangent does this on a per hour basis.

Craig's List - Under the community section you can post information about your events. This is FREE exposure for you and it takes 10 minutes. You can also post multiple listings in different communities within your city.


Gift’s that Keep on Giving:
Referrals - How much do you pay for your leads? Are they even hot? A referral is a free lead with an excellent response rate. Never cold call again! Get your customers to talk about you (positively). Provide your customers with incentives for talking about your product. Many people spend lots of money on marketing materials like pens and coffee mugs. While these can have a nice touch they are much less effective than a customer who sings your praises. Create a culture with your employees and clients that makes referrals an expectation. Be proactive, ask for referrals. Referrals are the cheapest and often most effective way to drive your bottom line. Not sure how to ask? See the link below:

http://www.microsoft.com/smallbusiness/resources/ArticleReader/website/default.aspx?Print=1&ArticleId=Learnhowtoaskforreferralsandgrowyourbusiness

Email Newsletters - Using email marketing campaigns is a great way to stay in front of clients and increase your sales. It is extremely important however that you use email marketing effectively and appropriately. Sending too many emails will turn off customers. Sending too few won’t produce results either. There are many different opinions on what is appropriate, but we recommend sending around one per week (typically on Monday’s). How many emails do you get that you don’t even read? Would you read them if you felt there was actual value in the email? Of course you would! Make sure you understand your customers needs and wants and provide them with tons of value!

I had the chance to meet Ryan Allis, CEO of Icontact.com at a conference in November. His company is one of the best for email marketing software. Go to www.icontact.com to try a free trial. If you like it you can sign up for next to nothing.



Happy Marketing,


Grant Deken
Tangent Initiatives
Tel +1 (904) 254- 5768
Fax +1 (904) 212-1520
Email Grant@tangentinitiatives.com
www.tangentinitiatives.com

Marketing in an Economic Downturn

CHICAGO--(BUSINESS WIRE)--According to a recent American Marketing Association (AMA) www.marketingpower.com survey, 60 percent of AMA member marketers believe that halting or reducing spending on key marketing programs is the biggest mistake marketers can make in an economic downturn. Marketers also report that focusing on short-term tactics and sticking to the status quo are some additional missteps marketers make.

“Our survey reinforces that these are challenging times to be a marketer,” said Nancy Costopulos, Chief Marketing Officer of the American Marketing Association. “Management is pressing for greater accountability from the marketing function, and the industry must rise to the challenge.”

Many marketers surveyed feel their greatest internal challenge is demonstrating the value of marketing when sales are decreasing. Other top internal issues include realigning marketing strategies to match business objectives and focusing on longer-term brand strategies.

To help the marketing community manage these mistakes and challenges, American Marketing Association offers the following four strategies to enhance marketing plans in a downturn: shape the message, don’t slash the price; focus on who NOT to target; stand apart from the crowd and invest in innovation; and sustain the brand.

1. Shape the Message, Don’t Slash the Price

“Focus on the company’s value to the market” – Anonymous survey respondent.

Survey Fact

Only 3 percent of American Marketing Association marketers believe that it is important for marketing functions to adjust pricing strategy to help sustain and grow business during an economic downturn.

Implications for Marketers

• Conduct research to understand your competitor’s positioning and your target audiences’ perception of the economic environment.
• Hone and refine your messages.
• Highlight the value of your product or service, rather than slashing the price.

2. Focus on Who NOT to Target

“Fish where [your] fish are” – Anonymous survey respondent.

Survey Fact

Sixty-seven percent of AMA marketers feel it is important to mitigate the impact of an economic downturn by refining target audiences.

Implications for Marketers

• Assess which segments of potential customers you do NOT want to target.
• Demarket to inappropriate market segments. Simply stated, some customers are more costly to serve than to lose.
• Focus marketing strategies on customer segments that will produce the greatest ROI.

3. Stand Apart from the Crowd and Invest in Innovation

“Major opportunities when others are cutting back” – Anonymous survey respondent.

Survey Fact

A majority of AMA marketers, 66 percent, report that they would take the same amount or less risk with a new product and/or service innovation during a time of economic uncertainty.

Implications for Marketers

• Differentiate through innovation with a product or service that performs in a faltering economy.
• Invest in R&D now to ensure your company is in a position to compete when the economy rebounds.

4. Sustain the Brand

“Sometimes it is the reeducation of a product [that can help sustain or grow a brand]” – Anonymous survey respondent.

Survey Fact

Sixty-three percent of marketers believe that they can lessen the impact of a downturn by investing in brand building, as part of their marketing plan.

Implications for Marketers

• Establish access to executive officers to understand ongoing shifts in business strategy.
• Realign marketing strategies to match business objectives quickly to demonstrate a commitment to the bottom line.
• Qualify and quantify results quarterly to establish an ongoing dialogue with executive officers.

“The key to success for marketers in this economy will be supporting the short term, and managing for the long term,” said Costopulos. “It is more important than ever that marketers simultaneously run a sprint and a marathon.”

Survey Methodology:

From May 6, 2008 through May 16, 2008, the American Marketing Association conducted online interviews with 244 AMA members in the continental United States. The sampling error associated with a sample size of 244 respondents is plus/minus six to seven percentage points at a 95 percent confidence level.

For an executive summary of the data, please contact Christine Heath at christine.heath@fleishman.com.

About the American Marketing Association

The American Marketing Association is the largest marketing association in North America. It is a professional association for individuals and organizations involved in the practice, teaching and study of marketing worldwide. It is also the source that marketers turn to every day to deepen their marketing expertise, elevate their careers, and, ultimately, achieve better results. American Marketing Association members are connected to a network of experienced marketers nearly 40,000 strong.

American Marketing Association offers highly acclaimed Training Series, professional conferences and Hot Topic events focused on the immediate needs of marketers, as well as trends shaping the future. American Marketing Association’s website, MarketingPower.com, is the everyday connection to marketing data, articles, case studies, best practices and a robust job bank. Additionally, the American Marketing Association is the source for the field’s top magazines and journals, including Marketing News. Through local and collegiate chapters, American Marketing Association members are connected with the best people and the best practices.

American Marketing Association is also the creator of Mplanet, the unparalleled industry event that brings together the world’s most creative thinkers, including senior marketing executives, top academicians and other thought leaders, to share fresh insights, new concepts, the latest research and solutions for the most pressing marketing challenges and opportunities. Mplanet 2009 will take place in Orlando, Florida, January 26-28, 2009.

For more information on the American Marketing Association or Mplanet 2009, please visit www.MarketingPower.com