In my previous article (part 1), I discussed marketing keys, marketing plan components, and creative marketing. I will now go into specific, profitable marketing methods and strategies that you can use today to increase your company’s exposure and profits.
MARKETING METHODS
Internet
-Very specific and extremely economical.
-Extremely interactive
journals
-Target your niche
-Create credibility
-Establish identity and brand
TELEVISION
-Can be very profitable
-Ideal for demonstrations
Direct mail
-highly targeted
-Means that allows you to go through the entire sales process.
-Expanded with Follow-up Mailing and Telemarketing is very effective
scrutiny
-Provides personal contact, which can be most effective
-Backed by targeted mailings and TV advertising increases your conversion rate
outdoor billboards
-Constant reminder
-Especially good for “Next Exit” location traffic targeting
indoor signs
-Capitalize the momentum of your marketing
-May be the most important sign, even more crucial than exterior signage
-Signs don’t have to be static: ie video message, slideshow, etc.
online marketing
-Absolutely the best medium that economically combines high interactivity with action
-Examples: Email, video and audio postcards, forums, blogs, websites, text messages
-Very effective when based on content
-Potential customers are not limited by time.
-Good, targeted, up-to-date content means repeat visits from customers
-Excellent means of following, reselling, cross-selling and up-selling
-Exponential results when complemented with offline marketing
classified ads
-Very profitable for a wide customer base
-Targets the best prospects
-Facing your competition head-on
brochures
-Only effective if combined with online and offline marketing
-Always a good after-sales piece so that the customer continues to think of you
– Encode the brochure, ask the client to distribute it and provide discounts or referral fees.
Telephone
-Telemarketing is only effective if it is part of an optional marketing campaign, either online, offline, or both.
reminder tools
-The refrigerator magnet is the most effective
-Double-sided or folded business card providing mini-brochure capabilities
Fairs
-Focused and motivated prospects.
-Consider online versions
Advertising
-PR-driven marketing can be profitable. Establish reputation and credibility.
Community relations and sponsorship
-Establish powerful contacts and connections
-Great for image
-Great constant reminder
-Create an advantage over the competition.
-You have to be honest
COMBINED MARKETING TOOLS AND METHODS
Creative strategic marketing is based on the development of multiple marketing tools in concert to achieve a creative strategy out of the box and with competitive advantages. Marketing methods need to be integrated together for each cohesive marketing strategy and then adjusted as the campaign progresses and develops. Personally, I think one of the deadliest combinations of Marketing Platforms are:
–Development of a content-rich presence on the Internet
–Online Marketing via Opt In
–Advertise free articles, newsletters, guides, webinars, etc. in a targeted magazine ad
This combination of print and online marketing is very profitable, but lucrative. Explore the possibilities.
The important thing to keep in mind when running multiple marketing tools, forums, and methods in a synergistic strategy is to carefully track and monitor results, making key changes as the initiative unfolds. This is where an online/internet marketing platform is so valuable because it can cleverly track results (ie conversion rate, response rate) in real time.
ONLINE MARKETING CALENDAR
A good marketing calendar is based on a 52 week year and goes a long way in planning and budgeting for a marketing strategy. At any time, you can determine the best ads to run, what needs to be in inventory for anticipated sales, project costs, and projected sales. The calendar should be an online platform for maximum interactivity, utility, access, flexibility, and integration. The marketing calendar must be fully integrated with the marketing strategy, strategic plan, and budgeting process for maximum utility. The calendar should be in an expandable spreadsheet format to reveal all the details needed for each marketing method within an overall strategy.
PROFITABLE MARKETING STRATEGIES
Profitable marketing doesn’t have to be expensive! Some cost saving tips:
Cooperative Advertising
-You can save more than 50%. Partner with a bigger company, mention their name and get paid for promoting. Spread the cost of the ad among other advertisers.
By Order or Consultation Form of Payment
-Advertising costs subtracted after a defined sale or event.
Survey your current customers
-It costs pennies to do, but gives you the latest market trends. Also, it gives you the opportunity to cross-sell or up-sell the customer at the same time.
Back-end products and services
-Bundle your offers to minimize your marketing cost per sale.
Encode your ads
-Codes allow you to track and measure the results of your marketing strategy. By getting ahead of the campaign launch, you can adjust for maximum profitability.
-Online tracking is the most beneficial and cost-effective means of keeping your marketing costs in line with your budget while giving you the most profit for every dollar spent on marketing.
Don’t use a rate sheet
-Make an offer for all your advertising – rates are always negotiable.
-A 30-second TV spot can be as effective as the more expensive 60-second spot.
-Touch the Remnant magazine slot
-Additional unused ad space is sold at significant discounts.
TV Ad Tips
– Tight scripts and excellent pre-planning reduce time costs.
-Make your announcement in 3-4 sessions of movement of representations.
-Use a production studio outside of peak hours.
Concentrate Efforts on Established Clients
-Clients are 85% cheaper to market; Maintain a good balance between Customer and Prospect marketing efforts.
-Exponentially expand your sales, profitably, through a Customer Referral Program.
-Up-sell, cross-sell, cross-promotion
Combined Marketing
A very profitable and successful combination is pairing a magazine ad with a website. Offer a FREE newsletter, guide, e-book, etc. and become an expert; extract the data of the leads in a permission based, Opt In; Follow up the free offer with product and service offers. All your marketing efforts, media, tools and campaigns must be done in concert and combined, as the results are exponential and the media profitable.
Web-page design
-Web Design, Development and Optimization is very important, crucial in fact, but it can be very expensive. –To reduce web design costs:
–Create your own content
–Write articles on areas in which you have Expert or Knowledge status
–Look at the web and decide how you want your site to look like and outline it, as well as organize the link structure. Then have a designer design the website in an easy-to-use content management system, and you input all the content. Have the designer/developer review the site after her input for search engine optimization tips.
Tip: Consider hiring a web designer/developer from abroad, like from China or India, etc. They charge around $30 an hour (or less) for $75 – 100 an hour. Be sure to carefully review the Designer/Developer’s credentials, references, and previous projects to ensure credibility and trustworthiness.
In the next article on profitable small business marketing, I’ll talk about market research and targeted marketing. Stay tuned!