onsdag den 7. august 2013

4 Marketing channels on a budget



If you look at your options of marketing mediums or channels you can choose today, one can easily get confused, because there is a lot to choose from.

Say you are on a budget you can narrow down the channels some, below is an introduction to 4 channels which you could consider using.

I have on purpose not included social media, for a few reasons. There is a separate post on social media coming, moreover do social media compliment other channels very well as an accelerator.



Guerilla marketing
There is a parallel from Guerilla marketing to guerilla warfare. Guerilla warfare is concept of irregular war, where small cells or groups of soldiers use untraditional tactics, such as sabotage and ambushes to use the element of surprise.


The parallel is using some of the tactics to achieve the element of surprise. Guerilla marketing is using low-cost elements to promote products or service. Conventional marketing is typical dependent on a big budget, while guerilla marketing is more dependent on creativity, time and energy.
Below are some great examples of guerilla marketing:





These are examples, which hopefully stimulate your creativity and desire to try this out. The big idea is get people’s attention, put a smile on their face by catching them off guard, and leave the valuable impression of your brand or product.


There is a lot more examples to find on the internet, however is much content duplicated on different sites. Therefore do I advise to purchase the bestseller book by Jay Conrad Levinson Guerilla Marketing. The book has been updated several times and is a must read. It is loaded with inspirational content and matching strategy tools.


Email marketing


Sending email is an inexpensive media format, where you can distribute your messages directly to your consumers email or potential customers.


You need to have a database with some contact information and minimum the email address. You can build the database by leaving a printed excel sheet on your counter, and manually enter these names into the database. Alternatively can you obtain contact information from your website, if you build in a HTLM widget.


With a database in hand, you are now ready to send email. Theoretically can you distribute email from your outlook, Gmail or similar account, but this is not recommended. Instead should you sign a subscription with a mail service business, such as MailChimp.


The reason to use MailChimp, is that you can easily create beautiful emails with pictures, texts, links and social buttons, and get tracking on all of this. The program is very intuitive and provides several guide of how to get started. Best of all this there a good free plan to get you started.


When you add content to your newsletter, you have to post information which is relevant for the mail recipients; you can easily add links to your website, to generate traffic and sales. Consider dividing your content into two categories:


·         Hard sell: promotions, new products, services and similar


·         Soft sell: tips, guides, information about donations and similar


Next you should consider when the most optimal time for you, to send your email is? You probably need to experiment, before you get it right. Otherwise are there a lot of facts to find on the internet.


Partnerships


Forming partnership is inexpensive and can be very efficient. The sole purpose to create / turnover to both companies and create a win-win situation.


When you start looking for partners you have to be selective, it is important you select a partner which understand and respects your brand values and your business principles, or even better a partner should share those elements.


Below is 5 examples of partnerships:
  • Include a gimmick in your product. Think about cereals! Big brand cereal companies do often include a branded toy. This creates desire to purchase the product and attention to the branded toy
  • Coca Cola has three main Cola products, Coca Cola, Diet Coke and Coke Zero, each positioned for a demographic profile. Diet Coke targets the female use, and underlines it with a partnership with Marc Jacobs, both companies’ wins and get great exposure.
  • Car dealers and theme parks, often share the same target group – families with kids. Car dealers can advertise free tickets, which initially drives traffic to the car dealership, secondly to the theme park, when the tickers is redeemed. Likewise could the theme park, place cars on display and host a competition of a prices covered by the car dealer.   
  • Shortly before Mother’s day did 11 florists gathers together, to buy a one full page add in a big newspaper. Each independent florist, would normally never be able to get in that newspaper with such a powerful add, by splitting the cost, it became possible!
  • Where I live, McDonalds support the local football / soccer team. Every time you purchase a particular product, the give x amount to the sports team as a sponsor. This is smart, because McDonald’s gets attention, the football team’s gets attention. In addition can you purchase tickets at the McDonalds counter.
Read my 5 step guide to Partner Advertising


Now ask yourself some questions and find out who can be the right partner / partners for your business.


Public Relations


Comparing advertising and public relations, there is one significant difference. Using advertising you control the content 100%, while using public relation the media´s control. You pitch them a story, they decide if they want to bring and in which format.


For entrepreneurs public relation is an inexpensive format to get your message out, find new customers and elevate your reputation.


Just like the other channels, you should know your position in the market. Start building your public relations locally, before you move to bigger regional media´s.


There are several PR agents that are working freelance and charge by the hour. You should consider this option, unless if you know how to write and have expertise in delivering the stories to the media´s.


You will typical achieve better results, using a pro, because they understand how to approaching medias with a practical approach.


Work on you credibility by focusing on smaller papers. The articles from these papers will help you get into other media, like radio, newsletters, blogs and local tv. Soon or later you will get more coverage.

tirsdag den 6. august 2013

Marketing - where does it start, where does it begin?

It is somewhat easy to get lost in today's world of advertising. There is many options and lots of things to consider before you are ready to advertise your product, such doing research, analysing data, choosing your strategy and deciding on which media to use and so forth.


Before doing this, you should spend a little time on understanding the basics of advertising. Where does it start and where does it begin?


Always start with research!


You should do marketing research, so you can find out what the potential market is for the products you want to sell and how to profit. There is number of things you want to find out and other things will be nice to know.


When you do surveys,you should ask specific questions and research the answers. Surveys will bring you much insight information, you may learn whether you need to change your packaging design or tweak your delivery methods -and even whether they should consider offering additional services - lots of stuff to learn.


Listen to experience


David Ogilvy is one of the most famous names in advertising - for plenty of reasons. Below is one of them:


"I had a friend who was the King's surgeon in England. One day I asked him what makes a great surgeon. He replied, "What distinguishes a great surgeon is his knowledge. He knows more than other surgeons. During an operation he finds something which he wasn't expecting, recognizes it and knows what to do about it." It's the same thing with advertising people. The good ones know more. How do you get to know more? By reading books about advertising. By picking the brains of people who know more than you do. From the Magic Lanterns. And from experience." Quote David Ogilvy


There are truly words of wisdom..... Mr. Ogilvy is considered one of the biggest marketing influencers, his story and achievements are impressive and many. I recommend you to get your hands on a copy of this book Ogilvy on Advertising, it holds a ton of basic information about marketing


How to do research


You want to find out a bunch of things, but start with the 1. level of information:


  • Are your customers young or old
  • Do they have kids
  • How do they dress
  • How are their marital situation
  • Which do they do
  • What are their interests
  • Where do they live
  • What is their income level


Now imagine what their priorities might be in relation to your product or service. Try to put this together to build a profile of your customer.


With the profiling done, will have have a very valuable asset to when you build your marketing plan and deciding on which media to use and how to do so.


With the valuable 1st level layer of information done, you can dig deeper and get to know more about your customers. This secondary layer is much harder and possibly expensive to do. But it will make your marketing efforts very efficient as it becomes more scientific, just like Mr. Ogilvy recommends.


There is a number of research companies out there, where you can buy this information from and the information you get in return is good, but expensive...


You can help you self if you can get your customers to answer these questions:


  • Which media do they use / watch / listen to
  • What is their political orientation
  • What is their buying habits
  • Which type of home do they live in
  • Which type of car / make do they own
  • What is their religion
  • much more which you know better!!


Add all this information to your initial profile and discuss this over with your media partners. Your media partners will love this, they like the quality and they can place your advertising where your targets are most active.


lørdag den 3. august 2013

A remarkable business growing

Every now and then, I visit a particular restaurant which is located at West coast in Denmark in the City of Henne Strand. Henne Strand is small city which booms in the summer time. Tourists from Denmark, Germany, Norway and Holland among others come here during or summer and rent a summer house by the week, to enjoy and kick back. The area located in between forests and on the beach.

The restaurant is owned by a very talented and experienced chef, who runs a remarkable business.

The chef has a simple and rock solid concept. He understands the fundamental aspects of running a restaurant and doing it well:
  • Great food
  • Great service
  • Great value

When you then add the following elements to the concept, you get a very good blend and an excellent experience as a customer:
  • Local grade A ingredients
  • A simple but yet exciting menu
  • Attention to every detail
  • Clean restaurant, clean restrooms = clean kitchen

The restaurant is very professional business, which gives their customers a good consistent experience for their money. This is remarkable!

A lovely July night at Henne Strand, Denmark

The business is setup to be a seasonable business, just like the rest of the business' in the area. But this particular restaurant, does things a bit different, in general is the stores of good quality, but no doubt is this the restaurant the leader. It excels in product, service and experience. Nothing average about it!

Behind the concept is a solid business with a good reputation. A good reputation comes, when your business performs. People talk about their experience... At this business even the industry talks, other chefs talks about it...

With the industry talking, the owner saw a great opportunity. He is now arranging theme dinners in the low season.

Utilizing his network within the business, has five chefs from Copenhagen been invited to participate in them night. Some of these chefs is Michelin star winners. The are each preparting a course on a 5 course gourmet dinner. 

This event has only been advertised on a simple poster, and the event sold out in just two days. The effect of word of mouth is incredible, Now guest are asking for the next event. That is remarkable!

Lesson to learn
  • The lesson is be on top of all the basics elements of the business and do them well.

  • Give people a solid experience, which they talk about, you get the most efficient marketing you can ask. Word of mouth rocks.
  • Do your SWOT analysis on a regular basis. Condition and enviroment change with time, you have to keep up.

  • Fuel the traffic with additional marketing and you are well off, to elevate your business with special events and themes.

Special event and themes are great because you get customers, which are likely if not already, going to be loyal customers or even customers who advocates your business to others.

Are you on top of all the basic element and have you added your own touch?

Then you probably need to move on some opportunities!

Good luck!

lørdag den 27. juli 2013

Is your product remarkable?

There is loads of inspirational videos on ted.com. One of my favorites is by Seth Godin, it is about making your product remarkable or simple stand out from the crowd.

Please take the time to watch the video! 


So how do you make your product stand out?

1) Figure out your strenghts
2) Figure out what sets you apart from your competitors
3) Work up a few key points based 1 & 2
4) Test your key points (check with a few customers and folks in your inner circle)
5) Adjust according to comments received
6) Go-live in a test environment (like a particular area)
7) Adjust according to feed-back from market
8) Go-live in bigger scale, but not bigger than you can keep up with

Good luck

fredag den 26. juli 2013

Want to be a big fish??

The Tour of Denmark is made super popular with simple tactics

A few years ago, did I have the pleasure to be part of the publicity scene at the Tour of Denmark cycling race. The scene were beautiful, the race were shortly after the Tour de France, the weather were perfect and there were a very strong and competitive group of riders, that was eager to win the race.

The race is very popular and attracts large crowds. About 500.000 people show up over this five day event, compare this with Denmark's population of just 5.5M and the numbers become even more impressive.

How do the host Danish Cycling Union succeed in attracting this many spectators?

They made it for the masses. They realized that it is better being a big fish in small lake, rater than a small fish in an big ocean.
Routing the stages through a bunch of small and medium sized cities. Cities which normally, do not attract large sporting event nor have a popular sport team. These small and medium sized cities really gets fired up!
Everybody and their brother show up to take part in the event. Some cities even hires a jazz band and people make a day out of it, it is really fantastic. Because watching the race it self, is not an experience you want to repeat, it really only takes a few minutes for the riders to pass by, and then you sit back and say, what that it?…. But it is not, because you are there for the scenery.

With this strategy about being a big fish in a small lake, really makes sense. Apply a few tactical tools, such as  some local print advertising of the event, press about the facts of the race and the riders, and support and promotion of the publicity caravan , then this really takes of.

The folks at Danish Cycling Union has made their product fantastic, by having a perfected strategy, which a few simple buttons to push.

Not the question is, how can you make your business a big fish in a small lake? Remember there is a lot of small lakes out there.

torsdag den 25. juli 2013

Jeff Bullas blog rocks

A blog loaded with online marketing ideas 

A reserve of tips and ideas to online marketing.

Are you due to work on your online marketing, I suggest you check out the blog of Jeff Bullas, which is loaded with tips and and ideas, which will inspire you.

There is lots of reading about some of the best facebook pages and the best facebook campaigns and great stuff about other online media such as twitter, google+ and other.

This is all presented in a language which is easy to understand and with plenty of great infographics.

I recommend you check our this blog.

mandag den 22. juli 2013

How to Calculate ROI

Why to calculate ROI
You should calculate the ROI on your investments to find out if the are profitable or not. It is a relative simple calculation to do, and the results can be very mind blowing.

There is plenty of examples of companies not calculating ROI prior to a new investments, that proves to be non profitable.

Make sure you make the calculating, if you are not profitable, please reconsider your investment.

How to calculate ROI
Before calculating the ROI of an investment, must you know a couple key numbers, which makes the ROI calculation.

1) You need your gross profit:

Sales - Cost of goods sold* = Gross profit

* cost of goods sold is the cost of the product plus variable expenses. Which typically consists of the following expenses: Materials used, direct labor, packaging, freight, factory supervisor salaries, utilities for a factory or warehouse, depreciation of production equipment and machinery.

2) You need to know the cost of your investment.

3) Gross Profit - Investment = ROI
4) ROI / investment = ROI in %

The higher % the better a project / investment.