As we work with hundreds of small business each year, one thing remains the same... Call it a truism, a fact of life or just plain depressing, but the fact is 80% of marketing fails.
Knowing the 20% of YOUR marketing plan that's really producing for your business is a major key to having a profitable return on investment. However, we've found that most companies are in one of two categories: 1) they have no marketing materials and are "hoping for the best", or 2) they have decent marketing materials but have no clue how to get them out to the market place to work for them. Here are 2 incredible tips that can help you leverage your marketing dollars for maximum impact.
Track Your Leads
Keeping Up With Where Business Comes From
As I interact with many small business people in developing successfull marketing plans for their companies, one thing is almost always true... they NEVER track their leads. Ask your average business owner where their leads are coming from and most of the time you get a blank stare.
Starting a simple Excel spreadsheet of where your leads come from, how many you converted and what the average sale was for each lead is a great way to start. It costs nothing and can save you a bundle when it comes time to invest in your marketing budget next quarter.
Need Help Tracking Your Leads? Contact us at kairosdesigns.com/july2005.html
Target Your Best Prospects
Getting Specific with your Marketing Efforts
One of the questions I ask people alot is "Who's a good lead for you?". 90% of the time I hear one of two answers: 1) Everyone is a good lead for us or 2) Small Business Owners. Unless you know SPECIFICALLY who you're going after, you're wasting time and money.... thus the 80% rule. Developing your Unique Selling Proposition and Target Prospect Profile are a must when building a successful plan of action. It's not rocket science, but it does take some time. It's also not a bad
idea to get a "third party opinion", just to make sure you're on the right track.
Need Help Targeting Your Best Prospects? Contact us at kairosdesigns.com/july2005.html
Sunday, July 24, 2005
Saturday, June 11, 2005
Consistently Branding Your Company
When it comes to marketing, many small business owners do it themselves and discount the importance of branding and corporate image. Here's how to avoid that trap!
Corporate Identity for the Small Business: Image is Everything...
In real estate, it's "location, location, location". In today's marketplace, it's "image, image, image". First of all, that doesn't mean that you should sacrifice the core of your business just to "look great". It does however, mean that many of your prospective clients may not even CONSIDER you if your corporate identity is lacking or non-existent.
Having a solid corporate identity is the basis for solid marketing pieces. Most small business owners make one of 3 basic mistakes: they do it themselves because they think they "can't afford a professional", they do nothing, hoping for the best, or they "just start somewhere and try to get better as we grow." I've seen it time and time again... without a solid corporate identity, many small businesses never get the chance to grow. They are eaten alive in the fierce marketplace we all operate in today. You must be noticed to be considered. That's why a solid corporate identity is crucial to your business success.
How to Have a Strong Corporate Identity
One of the first things that a small business owner can do is work with a firm like Kairos Designs that will help you develop a strategy. What's the focus of your marketing plan? What do you want to accomplish? By When? What's your investment budget and target Audience? The list goes on... Based on that strategy, then we develop marketing collateral to support and communicate the company's marketing goals. Now your creating marketing materials on purpose and with ROI in mind.
Lastly, one of the most basic things a firm like ours can help you develop is a "Corporate Image Style Sheet". This is a document that controls what we call the "look and feel" of every marketing piece that goes out of your company, including memos, brochures, business cards, sales sheets, websites and more. It's a simple document, but CRUCIAL to making sure your corporate image is solid and consistent.
Corporate Identity for the Small Business: Image is Everything...
In real estate, it's "location, location, location". In today's marketplace, it's "image, image, image". First of all, that doesn't mean that you should sacrifice the core of your business just to "look great". It does however, mean that many of your prospective clients may not even CONSIDER you if your corporate identity is lacking or non-existent.
Having a solid corporate identity is the basis for solid marketing pieces. Most small business owners make one of 3 basic mistakes: they do it themselves because they think they "can't afford a professional", they do nothing, hoping for the best, or they "just start somewhere and try to get better as we grow." I've seen it time and time again... without a solid corporate identity, many small businesses never get the chance to grow. They are eaten alive in the fierce marketplace we all operate in today. You must be noticed to be considered. That's why a solid corporate identity is crucial to your business success.
How to Have a Strong Corporate Identity
One of the first things that a small business owner can do is work with a firm like Kairos Designs that will help you develop a strategy. What's the focus of your marketing plan? What do you want to accomplish? By When? What's your investment budget and target Audience? The list goes on... Based on that strategy, then we develop marketing collateral to support and communicate the company's marketing goals. Now your creating marketing materials on purpose and with ROI in mind.
Lastly, one of the most basic things a firm like ours can help you develop is a "Corporate Image Style Sheet". This is a document that controls what we call the "look and feel" of every marketing piece that goes out of your company, including memos, brochures, business cards, sales sheets, websites and more. It's a simple document, but CRUCIAL to making sure your corporate image is solid and consistent.
It's All About Relationship
The power of relationship to generate business for your company can't be underestimated. Today I'm talking about 3 major topics: joint ventures & partnerships, referral networking and farming your current database. These are simple yet highly profitable ways to market your business... Read on!
Joint Ventures & Partnerships: It's What You Know AND Who You Know...
An old adage says "It's not what you know but who you know..." I'd have to say it's a little of both. You can be an expert in your field and even have a great product, but unless you're aligned properly with strategic parters, your business will not reach it's full potential.
Yes, that's a bold statement, but I'm seeing it come to fruition, both positively and negatively in the businesses I work with every day. Imagine the opportunity of aligning your company or organization with one who complements your areas of weakness. In our company, we aligned with a data management company about a year ago to be able to provide full list procurement services for our clients. This is a HUGE value add to our clientele, while also being another stream of revenue for our firm. In addition, we are able to reciprocate work back and forth, making it a fruitful relationship for both companies. It's not hard to do... and it's a great way to enlarge the scope of your business, while "keeping the main thing the main thing".
Referral Networking: Networking or Notworking?
When I first started Kairos Designs almost 3 years ago now, we had few resources within the business community to meet new prospects and find new business. This is the case with many new businesses... great concept and skill to boot, but where are the customers?
We learned early on to get involved in some sort of regular networking opportunity, where we could meet high-quality b2b referral partners. Within a short time period, we began to develop many 'strategic alliances' and were able to both give and get and endless supply of referrals on a daily basis. It's one of the cheapest and easiest way to find new clients and build a volunteer sales force without breaking the budget of a new business.
Farming Your Current Database: They already love you... Just ask the question.
The last, and I believe most effective/cheapest marketing tool out there for any business is cultivation of your current client database. These clients have already bought from you one or more times, like you, know you and just need and excuse to purchase again.
You can contact your database in many different ways... some ways that are extremely effective include personlized direct mail, e-newsletters, special offers via mail or email and last but not least, telemarketing. You'll be amazed how many of your current clients are needing your services on a regular basis and are just waiting on your call, email or postcard.
Joint Ventures & Partnerships: It's What You Know AND Who You Know...
An old adage says "It's not what you know but who you know..." I'd have to say it's a little of both. You can be an expert in your field and even have a great product, but unless you're aligned properly with strategic parters, your business will not reach it's full potential.
Yes, that's a bold statement, but I'm seeing it come to fruition, both positively and negatively in the businesses I work with every day. Imagine the opportunity of aligning your company or organization with one who complements your areas of weakness. In our company, we aligned with a data management company about a year ago to be able to provide full list procurement services for our clients. This is a HUGE value add to our clientele, while also being another stream of revenue for our firm. In addition, we are able to reciprocate work back and forth, making it a fruitful relationship for both companies. It's not hard to do... and it's a great way to enlarge the scope of your business, while "keeping the main thing the main thing".
Referral Networking: Networking or Notworking?
When I first started Kairos Designs almost 3 years ago now, we had few resources within the business community to meet new prospects and find new business. This is the case with many new businesses... great concept and skill to boot, but where are the customers?
We learned early on to get involved in some sort of regular networking opportunity, where we could meet high-quality b2b referral partners. Within a short time period, we began to develop many 'strategic alliances' and were able to both give and get and endless supply of referrals on a daily basis. It's one of the cheapest and easiest way to find new clients and build a volunteer sales force without breaking the budget of a new business.
Farming Your Current Database: They already love you... Just ask the question.
The last, and I believe most effective/cheapest marketing tool out there for any business is cultivation of your current client database. These clients have already bought from you one or more times, like you, know you and just need and excuse to purchase again.
You can contact your database in many different ways... some ways that are extremely effective include personlized direct mail, e-newsletters, special offers via mail or email and last but not least, telemarketing. You'll be amazed how many of your current clients are needing your services on a regular basis and are just waiting on your call, email or postcard.
Getting 7-20% Response Rates with Direct Mail
Did you know that Variable Digitial Printing Technology that allows you to leverage your marketing dollars in a huge way. Industry wide, this technology is being used in companies large and small, producing direct mail response rates from 7-20%. Sound too good to be true? Read on....
Using Personalization
Digital technology allows us to do things we've never been able to to before... bring the power of one-to-one marketing to direct mail. Through mining literally thousands of databases, we are able to find information on prospective customers. Using this information within a direct mail campaign is invaluable when it comes to leveraging higher response rates.
Personalization can include using a name, title, business name, industry... the list goes on. This immediately grabs the attention of the reader and causes them to want to look further. In addition, statistically is increases the response rates almost 10 times over static printing where there is no personalization. Visit the link below to find out more.
Color vs Black & White: Does it really matter?
Many small businesses will print simple letters and postcards out on their office printers, mail them out and hope for the best. Most of the time, these wasted efforts produce little to no results. Which brings us to the question, "Does Color Really Matter?"
Using color in a direct mail project is very important. In fact, statistically, color increases your response rates by at least double in static campaigns (where everyone gets the same thing) and triples your response rates in variable campaigns. This is a simple change that can yeild major results in your campaigns.
The Offer: Make 'em an Offer they can't refuse!
Lastly, one of the most important things you can do to leverage higher response rates in your direct mail campaigns is using an offer. This could be a complimentary item, a discount on services, a first time customer discount, free with a purchase of... the list goes on. The important thing is to use one! Statistically, using an offer doubles the rate of response in color, variable direct mail. That's HUGE!
Be creative with your offers and make sure it's something your prospect wants. Again, on of the cool things about using variable digital printing is that you could literally send out a run of 1000 postcards and everyone have a different offer, based on the demographic of who you were trying to reach.
Using Personalization
Digital technology allows us to do things we've never been able to to before... bring the power of one-to-one marketing to direct mail. Through mining literally thousands of databases, we are able to find information on prospective customers. Using this information within a direct mail campaign is invaluable when it comes to leveraging higher response rates.
Personalization can include using a name, title, business name, industry... the list goes on. This immediately grabs the attention of the reader and causes them to want to look further. In addition, statistically is increases the response rates almost 10 times over static printing where there is no personalization. Visit the link below to find out more.
Color vs Black & White: Does it really matter?
Many small businesses will print simple letters and postcards out on their office printers, mail them out and hope for the best. Most of the time, these wasted efforts produce little to no results. Which brings us to the question, "Does Color Really Matter?"
Using color in a direct mail project is very important. In fact, statistically, color increases your response rates by at least double in static campaigns (where everyone gets the same thing) and triples your response rates in variable campaigns. This is a simple change that can yeild major results in your campaigns.
The Offer: Make 'em an Offer they can't refuse!
Lastly, one of the most important things you can do to leverage higher response rates in your direct mail campaigns is using an offer. This could be a complimentary item, a discount on services, a first time customer discount, free with a purchase of... the list goes on. The important thing is to use one! Statistically, using an offer doubles the rate of response in color, variable direct mail. That's HUGE!
Be creative with your offers and make sure it's something your prospect wants. Again, on of the cool things about using variable digital printing is that you could literally send out a run of 1000 postcards and everyone have a different offer, based on the demographic of who you were trying to reach.
Starting a Kick-Butt Marketing Plan
Working with small business all across the country for the past 3 years and allowed me to see so much junk masquerading as marketing, it's not even funny. And then people wonder why their foolproof marketing disaster didn't produce results. I wonder?
Funny enough, as I begin this blog, I was just in a client's office this past week here in Atlanta. They are about a 5 million dollar technology company and great at what they do. However, marketing has never been a strong point for them because it 'costs too much'.
So I was called in to consult on a new project last week. After becoming friendly with the new rep heading up the project, he said "come in here" for a second. We walked into the storage room where I saw 10,000 11x17 full color brochures stacked in boxes, along with several other collateral pieces. "All of these are obsolete" he said. In fact, they were getting ready to throw them all out and do something new. This was due to the fact, he went on to explain, that the brochures were developed in a departmental vaccum and were not a part of a comprehensive corporate marketing strategy. The worst part was... they cost roughly .$75/per and they were printed last year. That's $7500 down the drain... so long, farewell and goodbye. They might as well have thrown it out the window.
This is a perfect example of why companies NEED, MUST HAVE and CANNOT DO WITHOUT a Kick-Butt Marketing plan. I'm passionate about not only helping companies have GREAT marketing collateral, but also having a solid strategy by which to get it to the marketplace. That's what this blog is all about... bringing you our thoughts on having a Kick-Butt Marketing strategy for your business.
Check back often! Matt
Funny enough, as I begin this blog, I was just in a client's office this past week here in Atlanta. They are about a 5 million dollar technology company and great at what they do. However, marketing has never been a strong point for them because it 'costs too much'.
So I was called in to consult on a new project last week. After becoming friendly with the new rep heading up the project, he said "come in here" for a second. We walked into the storage room where I saw 10,000 11x17 full color brochures stacked in boxes, along with several other collateral pieces. "All of these are obsolete" he said. In fact, they were getting ready to throw them all out and do something new. This was due to the fact, he went on to explain, that the brochures were developed in a departmental vaccum and were not a part of a comprehensive corporate marketing strategy. The worst part was... they cost roughly .$75/per and they were printed last year. That's $7500 down the drain... so long, farewell and goodbye. They might as well have thrown it out the window.
This is a perfect example of why companies NEED, MUST HAVE and CANNOT DO WITHOUT a Kick-Butt Marketing plan. I'm passionate about not only helping companies have GREAT marketing collateral, but also having a solid strategy by which to get it to the marketplace. That's what this blog is all about... bringing you our thoughts on having a Kick-Butt Marketing strategy for your business.
Check back often! Matt
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