The Right Message to the Right Audience – Key to Small Biz Marketing Success
It’s so simple — yet brilliant. “Any time. On Time. All Time Air Conditioning.” I saw this van in the parking lot of a gas station in West Palm Beach, Florida. The temperature was in the mid-90s with extremely high humidity. Think about what happens when your air conditioning goes out during the height of the summer months? You want someone who can come at anytime — even if it’s in the middle of the night. And you want someone to be there when they say they will so you aren’t wasting your time waiting. This is an example of a small business owner who is completely focused on customer needs. When your air conditioning goes on the fritz, you want it fixed now. As a customer, you don’t care that the company has been in business for 25 years or that it’s products are state of the art. You have a problem and you want someone who can solve it — period. Too many small business owners and their sales team spend time telling you how great they are without taking time to focus on the customer’s needs. Smart marketing delivers the right message to the right audience — a message that solves a customer’s problem. Back in the late 80s I had a boutique advertising and PR firm. One of my clients manufactured large pipe casings for major construction sites. After talking with many of the company’s customers I learned that if the wrong pipe arrived at a work site it delayed the project and in many cases cost the developer a significant amount of money. Additionally, if the pipe was delivered early or late, there were costs involved too. Because my client had a solid reputation for ensuring the right pipe was delivered at the scheduled time, we created a marketing slogan that said just that: The Right Pipe. Right on Time. It said everything that needed to be said. So take a look at your marketing messages. Are you focused on your customer’s needs or are you touting your wares? If you have examples of marketing messages that resonate well with customers, share them with us here. ...
read moreThe Go-Giver and THE Small Business Expert!
I’m sure most of you recognize my friend, Bob Burg. He’s the international bestselling author of five books: The Go-Giver, Go-Givers Sell More, Endless Referrals, It’s Not About You and Adversaries into Allies. We recently got together for coffee and he told me about his Go-Givers International (GGI) group. I am now a member and I want to share it with you too. Go-Giver’s International is a worldwide community of individuals who live their lives and conduct their businesses… The Go-Giver Way! As a member you’ll get access to information and resources that will undoubtedly help you accelerate the growth of your business with integrity. To learn more about Bob and his Go-Givers, check out the website. Oh and by the way, tell them THE Small Business Expert sent you. Here’s to your...
read moreMarketing For Small Business — It’s All About Common Sense
Identifying the right marketing tools to reach your target customers is a challenge for every small-business owner. While going through all the critical steps to get to the point where you can open for business, many entrepreneurs don’t think ahead about how they’re going to get customers or clients to come through the door. It’s not as simple as announcing to the world that you’re open for business. Initially, a few people may trickle in, but how will you drive the volume of business you need to be successful? When it comes to formulating a marketing strategy, use the “MACS” principle: massive amounts of common sense. By using common sense and taking advantage of the excellent, inexpensive marketing tools available today, a small business can build considerable brand buzz and ramp up its revenues. “Marketing” is an umbrella term that covers a wide range of functions, including sales, branding, public relations, brochures, logo development, direct mail, advertising, internet strategy, newsletters, and merchandising. Marketing is so complex that unless you’re a marketing professional it’s impossible to understand all the nuances involved with each discipline. As your business grows, you should consider working with a marketing professional to develop appropriate strategies for your brand development; but initially, there’s much you can accomplish on your own. Once you know who your target customers are, you can focus on strategies to best reach them. Mass media outlets such as radio, television, and newspaper advertisements are rarely the appropriate answer for a start-up. Why? For one thing, they are expensive. Also, you’re essentially paying to reach a lot of people who in most cases will never be interested in buying your product or service. Remember: massive amounts of common sense! Unfortunately, many new business owners get lured into believing they have to make a big splash with their marketing in order to get the word out. Entrepreneurs frequently email me wanting to know how to get capital so they can run a television campaign, which they believe will solve all their marketing problems. Before they know it, they’ve invested a load of money, and yet they either have nothing to show for it or they’re not equipped to support the level of business this kind of advertising drives. Let me give you example of what I mean. Do you remember the popular sock-puppet television ads for Pets.com? The site was launched in February 1999, and it sold pet supplies to retail customers. Its high-profile marketing campaign featuring the sock puppet quickly made it a widely recognized brand. In fact, the sock-puppet spokesperson was interviewed by People magazine and appeared on Good Morning America. Unfortunately, the infrastructure of the business could not support the overwhelming attention and sales the marketing campaign drove. As a result, the company lost money and was out of business by November 2000. Not the outcome you want for you want for your small business. So as you develop your marketing strategy — remember it’s all about common sense....
read moreAs the Cupcake Crumbles — What Small Businesses Can Learn.
I don’t know whether I’m happy or sad. One of my favorite bakeries, Crumbs, is closing its doors. I’m sad because I enjoyed stopping by one of its stores near my Manhattan apartment to pick up cupcakes to give as a thank you gift or a special recognition for someone with whom I worked. But I’m happy because each one of those decadent cupcakes packed about 600 calories. It takes a lot of exercise to cancel one of those puppies out. Crumbs Bake Shop opened its first store in March 2003 on the Upper West Side of Manhattan during the beginning of what many refer to as the cupcake craze. Cupcakes had been a staple at children’s birthday parties and PTA bake sales for decades. But someone decided to give the old faithful cupcake a serious make-over and it re-emerged as the hottest new desert trend. Riding the cupcake wave, Crumbs became an iconic brand offering its signature 4-inch cupcakes with think layers of frosting in myriad flavors including cookie dough, carrot cake and red velvet cheesecake. And customers paid a hefty price for the sugary indulgences — each cupcake cost as much as $4.50. That’s a far cry from the community bake sale prices. Three years ago, Wall Street embraced cupcakes when Crumbs went public and the company grew quickly. In its heyday, the brand had 78 locations in 12 US states and the District of Columbia. But its success was short lived. Customers soon tired of the tasty treats and business slowed. The company experienced several years of financial losses caused in part by its rapid expansion. Last year, Crumbs posted a loss of $18.2 million. It’s stock which reached a high of $13 per share, tumbled to less than 30 cents resulting in the Nasdaq suspending the company from the exchange and Crumbs defaulting on millions in loans. There is an important lesson to be learned for all of us in small businesses. You don’t want to be a one trick pony because eventually customers will tire of the same old, same old and move on. You may hang on for a while, but most likely if you don’t diversify your offering and keep up with market trends, your business will fail. Crumbs CEO Ed Slezak noted in an interview with CNBC that the cupcake is “too narrow of an assortment” and “too tight a niche to attract a sufficient number of people.” He added, “At the heart of it, I think that cupcakes by themselves do not attract enough people every day any longer.” he added. Perhaps, if Crumbs had broadened its product offerings it would have been sustainable. But as Kevin Burke, managing partner of Trinity Capital, LLC, a Los Angeles investment banking firm noted, in an interview with The Wall Street Journal, “The novelty has worn off.” Crumbs was a one trick pony. So as the cupcake crumbles, make sure your business product or service is sustainable. There will always be trends and fads in business, that’s why it’s imperative to pay attention to market trends. Diversify your business so your success is not dependent on one product or...
read moreHow to Successfully Crowdsource Anything for Your Small Business
Most of us have heard the legendary question medieval theologians asked, “How many angels can dance on the head of a pin?” A modern day version of that might be, “How many people can you fit into your office who are willing to help you with funding, projects and brainstorming?” The answer would be thousands from all around the world. That’s the power of crowdsourcing. Think of crowdsourcing as a kind of Internet dating approach to finding your small business the capital, creativity, help and ideas it needs to take it to the next level. And just as there been an explosion in Internet dating sights, there’s been a boom in crowdsourcing sites. There are some standard categories into which these sites fall. Different sites specialize in these categories. Some won’t be of much interest to small businesses, I’ll cover the ones you’re more likely to use. Crowdfunding This is perhaps the most well known application of crowdsourcing. Within this category there is great specialization. Here are some of the major players: * Kickstarter. If you have a creative project—movies, games, art, and more—this may be your best bet. Although smaller, IndieGoGo is worth a look. Tech products are also included in this group. * EarlyShares. For many small businesses with a solid idea and sound management team, this site can be an excellent source of funds. You are offering equity when you go this route. Think of it as your source of micro-angels as well as a way to involve family and friends. Fundable is similar. Crowdsource tasks There are crowds waiting to help with you all kinds of tasks you need to complete, from those that require a lot of talent to those that just take time. We’ll start with the second group. * Mechanical turk. This is an Amazon.com enterprise that connects people who need a lot of small, receptive tasks completed. If you had 1,000 pictures of products that needed to be classified, this would work for you. MicroWorkers is similar. * Creative designs. For logos, websites, banner ads or anything that requires design skills, 99Designs is currently at the head of the pack. You post a project. The designers essentially see it as a contest and propose design ideas. You pick the one you like best. CrowdSpring is another option. Elance, and oDesk are moving into freelancer territory, but you do draw a “crowd” of possible providers when you list your jobs at these sites. Crowdsource ideas Occasionally we read about NASA posing a problem and asking for ideas. You can do the same thing today. Need some killer new menu items for your restaurant, or the best way to market your new product? Try Idea Bounty. You post a brief and how much you’re willing to pay and the ideas start rolling in. You select the winner. I have one more resource for you, Crowdsourcing.org. You’ll find a directory of crowdsourcing sites here, a great blog and other useful crowdsourcing information. Any other great suggestions? Share them with us...
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