Marketing On A Shoestring Budget
You've posted the open sign in the window, stocked the shelves with product and filled the register with plenty of receipt paper. It's going to be a prosperous day. If your entrepreneurial hopes come to fruition, that new business ad in the local paper will trigger a rush of customers similar to that of the Great Elmo Doll Riots of Christmas '96. It seems like just yesterday the media was reporting on fist-slinging moms and dads mobbing the nation's toy stores - all in an attempt to get their hands on a half-pound bundle of red fur. We can all agree that the Fisher Price marketing department did an incredible job, inspiring such emotion over a fiery troll that obsessively rants about being tickled. There's something very disturbing about that, but I digress! Let's get back to your end of the enterprise spectrum. In your opinion, you've done the promotional legwork and all bases have been covered: the storefront signage, the inventory, and most important, the ad placement. Traditionally, this has been the extent to which many operations engaged in marketing. And in retrospect, it proved very successful for a number of companies. So, why shouldn't this approach work today for your venture? In truth, it very well could, but the odds are not stacked in your favor. In today's high-pace, virtual world, the consumer wants businesses to come to them. In fact, studies consistently show that a majority of people research products and services via the Internet, referrals, etc. before ever walking through a business's doors. Market saturation also comes into play these days. As owners and managers, we often hate to admit it, but the marketplace is full of companies that offer products and services similar to ours. Most of these operations already have strategic marketing efforts in place. Even more concerning, the smallest of experienced businesses tend to devote a minimum of Web site creation, ad campaigns and collateral materials to their relentless push for leads. So, it's not enough to hang an open sign, run a weekly ad and expect that alone to draw prospective clients. Understandably, many scaled-down marketing efforts link directly to budget restrictions - an issue every business faces along the way. Even the heaviest of hitters must tighten the fiscal belt from time to time. However, the term "Marketing" does not merely apply to big-dollar identity campaigns and quarterly ad budgets. Bon's Eye Marketing and other experts in the PR industry repeatedly conceptualize grassroots approaches to help businesses get the word out. These affordable, immediately applicable techniques lend way to establishing an even more advanced marketing campaign down the road. The important thing to remember is to continue adapting your approach to your target audience's demands and needs. Good Luck!
- Get CREATIVE With Business Alliances: The concept of forming business alliances is nothing new. Basically, find an operation that goes hand-in-hand with what you provide, and team up on referrals and expanded services. But all too often, we approach this marketing strategy with blinders. We limit ourselves to a very restricted idea of what constitutes an alliance. For instance, not many folks would think that a basket weaver and hotel chain have much in common. But when the basket weaver teams up with a gourmet bakery, candy shop and other food-service stores, suddenly the baskets make for the perfect welcome gifts for hotel visitors. This approach might be even more effective in the case of bed & breakfasts - which are always looking for exclusive local touches to offer guests. The key to establishing creative alliances is to think of the end-user. Your business can play one part in providing a larger product or service.
- Approaching Media: Yes, the hometown paper and broadcast news outlets can be very helpful to businesses when approached with tact. Their reach into the community surpasses most every other PR channel out there. It's a matter of making them see why your story will speak to their readership.
Most owners who approach the media EXPECT coverage because "they have a great business." Unfortunately, that's not enough to peak an editor's or general manager's interest. That's like saying, "Buy our product/service because we care about the customer." It's old hat and not unique. As we previously noted, the market is loaded with businesses, and each feels they deserve attention. Therefore, the entrepreneur must dig for the real story within their operation.
For example, Joe's Produce Market just opened in town. Joe, seeking some news coverage of his venture, writes a pitch to distribute to the overall media. His lead states, "Joe's Produce Market recently opened at 142 Walnut Drive . The grocery store sells delicious fruits and vegetables at discount prices!" This approach comes off as plain and a bit self-serving. The story offers nothing new - businesses open every day. Most media outlets might offer a bullet to the topic and recommend that Joe buy ad space!
Now imagine if Joe did some research and found out the contact information for the local features editors at various media outlets. Then he contacted them by e-mail (editors, reporters usually don't want their phone tied up by folks requesting coverage - that line needs to be open for true sources to big stories). Joe introduces himself and states that he has a story he thinks might interest their readers.
He sends along a pitch that leads off with: "The aisles of Joe's Produce Market buzz with laughter, greetings and talk of days past, giving harvest to a new tradition in the Port City . Every Saturday morning, the hometown shop turns into a stomping ground for folks craving the sweet nectars of summer and the even sweeter taste of yesteryear. See, for many folks, Joe's serves as more than just a market to purchase fresh fruits and veggies. The small country store acts as a place to rekindle old memories of childhood, past friends, simpler times and so much more. The truth is, each juicy bite recalls something different. Take Bill Jacobs for instance, who discusses his first kiss under the apple trees of Jacisin's Orchard."
Clearly, this new lead gives Joe plenty of free publicity and also makes a personal connection with the reader. Editors welcome this kind of creative subject matter. With the concept already on their desk, they get a taste for what the story could be - they want more and often mold the rest in their publication's image. It makes for such a stronger pitch and separates itself from the stack of other releases.
- Become The Expert in Your Field: Business owners really need to get out into the community to market themselves. No one is too big to show folks the face of their company. In addition to attending after-hour networking functions and civic group meetings, making personal contacts to media, institutes and other entities also makes sense. For instance, introduce yourself to local reporters as a possible source if the need arises for expert advice about your industry; offer to speak, teach about your occupation at area colleges and business incubator groups; host an "Inside the Trade" event at your shop - inviting other folks in the industry to tell the public the ins-and-outs of the job. Making yourself and your business known as the standard of knowledge for that particular industry builds incredible trust with consumers.
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