Small Business Daily

Knowledge Sharing & Advice

Visitors vs. Conversions

buy-now-button1How many people track visitors to their Web sites? The number is surprisingly high. Which then leads to statements like. I had over 1,900 visitors to my Web site last month. Wow, my Web site is doing great!! But wait a minute? My revenue last month didn’t go up. I spent all this money on advertising and I’m getting lots of visitors. Shouldn’t I be making more money? What’s going on?

While many people track the number of site visitors, they are not tracking the more important figure of Conversions. Conversions being, of those visitors, which one’s have contacted me or bought something from me?

I personally would rather have 10 visitors to my site with a 4:1 conversion rate than 100 visitors with a 100:0 conversion rate.

Look at your Web site home page and ask yourself, where on this page am I asking them to buy my product, call me, email me, fill out a contact me form. Is that message buried in paragraphs of text?

You may not like the visual aspects of it, but your Web site, in big letters, bright colors, advertising, it should be telling them to buy, call, contact you.

Is yours doing that?

Chris Nastav, KC Web Specialists, LLC, www.kcwebspecialists.com
Experts in how business gets done on the Internet (913) 908.5642

November 29, 2008 Posted by smallbizexperts | Search Engine Optimization (SEO), grow your business, website development | | No Comments Yet

Tying together your business team…on a shoestring budget

team1Starting a business can feel like being an entire baseball team by yourself: while it’s possible to play all the positions, it’s not easy to do them all well, and it’s impossible to do them all at the same time. Yet that’s often what we’re trying to do, as we start new businesses without the benefit of a huge budget or staff. So it’s important in this process to do two things well: one, to accurately assess one’s strengths and two, to find creative ways to partner with those who have complementary gifts.

 

An Accurate Assessment

There are two kinds of people: those who are attracted to doing things they are not great at – they take these as challenges and places to improve themselves; and those who will only do what they do easily and well, ignoring the tasks they don’t. If you don’t know which you are, then ask someone you trust for an outside assessment.

Be aware that if you focus all your work energy on improving the things you’re not good at, you’ll end up burning up infinitely more energy in attempting to get your work off the ground. It is important to put yourself in the position of doing the things at which you excel, the things that light you up. That energy will help carry you through the difficult times.

If you tend to focus on things you do well, then you also need to make a plan to get the other tasks done.

Partnering with Others

Let’s assume that you don’t think you are in a position yet to hire the administrative, sales or production staff who would complement your talents. There are a number of creative ways to get what you need:

      Look for someone to become a business partner, someone who can enter your business and take up a complementary role, sharing both responsibilities and benefits. If you want to focus on production, perhaps you can find someone who excels at business development to generate the flow of new clients for you.

      Brainstorm about people in complementary but not directly competitive businesses. A local Chicago computer repair shop developed a relationship with the local computer sales store. The seller didn’t want to be bothered with repairs, and the repair shop didn’t want to carry inventory. They helped each other to build their businesses by referring to one another – while maintaining separate businesses.

      Assess whether investing some money in getting an expert to do a task will free you to generate more revenue. A graphic designer hired an accounts receivable specialist to follow up on her past-due accounts, and her revenues skyrocketed as a result. A small investment produced a great pay-off – and didn’t cost her any time away from production.

      Consult with people who don’t share your same gifts. If you’re detail-oriented, ask a big-picture thinker you trust for advice. If you’re an unflappable optimist, look for someone who can shoot holes in your theories. In the end, these sometimes abrasive partnerships can save your business by giving you the perspective to see problems before they happen.

How’s your team?

Michael Shapiro, Dynamic Management Solutions, Inc.

November 29, 2008 Posted by smallbizexperts | business coaching, business growth, entrepreneurship, grow your business, start a business | , , , , , | No Comments Yet

DIY Press Release Distribution: What Sticks, What Doesn’t

newspaperThe #1 most important thing you have going for you, if you’re pursuing PR, is your story.  The second is how you distribute that information to the world.  Do you know what journalists you’re trying to reach, where your audience is getting news, what are your goals – numbers/eyeballs or stories?  These are all things to consider about how your PR campaign will be successful.

There are a number of services out there you can use to get your news noticed, beyond hunting down journalists and sending it directly to them.  Here are a few options below and some of the pros and cons:

1. PR Newswire - roughly $400 for regional drop, $1,500 national drop with graphic.  This does not include an annual membership fee of $125, a drop in the bucket for the opportunity to use the service.  PR Newswire is expensive but can guarantee that your press release will be literally dropped in the Inbox of the editors and writers you want to reach.  You pay to reach media directly.  This includes online and direct to subscribers.

2. PR Web - The high-end package is about $400 (beware of all the “extras” they will attempt to sell you.  Most you won’t need) for national/international distribution on the web.  This is a great alternative for widespread, sort of targeted distribution online.  The downside is that it isn’t as targeted, meaning the service is not “dropping” the release in editor’s inboxes.  Still a great tool.

3. Free/Cheap Distribution sites – okay, I admit that some of these “free” options can actually yield some pretty good search results, but they are not targeted and most are sort of the bowl of noodles theory to PR – throw it up on the wall, see what sticks.  You can “look” like you have a good presence online to those who may find you, but I have yet to have any journalist contact me b/c they saw the release on 1888PressRelease.com. 

Now, some of these sites attract you with “the free” and rope you in with the $25 fee for limited to universal distribution.  We can’t blame them.  EVeryone needs to make money, but, once again I’ve tried this for clients and I’ve yet to have any journalist contact me.  Still, they can increase your distribution reach and can be much more affordable. 

To consider: First weigh your budget against distribution options.  PR Web is reputable and has reach but if you don’t have the budget you might consider a balanced plan between options. 

All of these options allow you to track results such as impressions and views online, and they offer visibility through a variety of partnerships they’ve made to help increase the number of eyeballs that see your press release.  I recommend that you make sure to “Google” your business every few days, or so, to see where your news is being picked up. 

Most importantly for online distribution is remembering to write your news release with an emphasis on search by using keywords.  It will help you learn how to write catching headlines and lead paragraphs.

Keys to getting your press release picked up are a strong headline, lead paragraph and distribution! 

I’d love to hear about anyone who has had success with free press release distribution services!! 

Jennifer Fortney, Cascade Communications

November 25, 2008 Posted by smallbizexperts | public relations | , , , , , , , , , , , , | No Comments Yet

Come on Google, Give Us a Break!!!!

googleIt gets a bit old talking about Google, but I had to relay an interesting statistic I read about a week ago. This stat comes directly from the folks at Google. They were asked during a recent national online conference call if there were any significant changes to their search algorithms this year.

Their answer……Well, we’ve made quite a few changes to our search algorithms this year. When pressed for an answer on the changes, they responded…it’s hard to pin down any one change that made a difference since we’ve made over 450 changes this year.
 
AGGGGGGGGGGhhhhhhhh 450 changes to the programming on how they rank Web sites in their search results. Give me a break!! I’m reading SEO stuff every day, and attending SEO conferences and trying to keep in tune with what needs to be done to have optimal rankings. 450 times?? Can’t you just please give us a dozen or so to try and figure out? 450???
 
Anyway, not to fret, most were minor programming logic changes, and the best, best, best thing you can do is continue to have a well written Web site that is written for your customer first, search engines second. Over time, with some help from an SEO expert, you can keep ahead of Google’s folly’s.

Chris Nastav, KC Web Specialists, LLC, www.kcwebspecialists.com
Experts in how business gets done on the Internet (913) 908.5642

November 22, 2008 Posted by smallbizexperts | Search Engine Optimization (SEO), website development | | No Comments Yet

The Isolation of the Entrepreneur

iso5You’ve just had a really bad day. The client who was going to be your bread-and-butter for the next three months just lost their funding. Your recent marketing campaign has gotten zero responses. You have some ideas for growing your business, but you need to talk with someone unbiased about them – and your spouse is too stressed about your immediate financial concerns to be a neutral sounding board.

Entrepreneurs are no strangers to isolation. If you’ve been an entrepreneur for long, you know the critical nature of needing to be “on” when you meet people. You need to be able to present a professional, polished image, regardless of what is happening in your business or life at the moment. You know how to smile and listen to someone else’s concerns and find solutions for them.

But what about you? Where can you go and let someone know that things aren’t so good – and you’ve got some ideas you’d like to bounce off of them? If you left a corporate job, that cubicle or office that was next to yours isn’t looking so bad right now – after all, it was a place you could go to capture the ear of someone who gets it. They know what your business is, the struggles you’re experiencing – and what you need to get you through the tough times.

Entrepreneurs can find support in a number of different ways. By breaking the isolation, an entrepreneur can be re-energized and regain perspective for their work. Try one of these suggestions to help get you back on-track:

  • Attend an entrepreneurs’ group. These types of groups offer peer-to-peer feedback, and they are a place to let down the masks and receive unbiased input from people who know what you’re facing. A group like this can also provide you with accountability for your goals.
  • Get coaching. A business coach can help you identify your blind spots and mistakes, as well as encourage you when the good things you’re doing haven’t produced results…yet. They can tell you how long results should take, so you know where you stand in the business-building process. They can also help you strategize to get where you want to go in your business and your life.
  • Create structures for yourself that address your strengths/weaknesses. If you are someone who absolutely needs to talk in order to work ideas out, form your own work group with a like-minded entrepreneur at a local coffee shop once a week. If you are someone who needs to lead a group, and the solo-nature of your business isn’t scratching that itch, join – or start – an on-line or local group to which you provide leadership and resources. You’ll gain a reputation in your community while getting your own needs met. If you need someone in the next cubicle, then rent office space where this is possible – or set up a phone agreement with someone who wants the same thing. A five-minute phone call could give you the energy you need to get unstuck.

Can you relate to this type of isolation?

Michael Shapiro, Dynamic Management Solutions, Inc.

 

November 21, 2008 Posted by smallbizexperts | start a business | | 1 Comment

Your Essence Energy Is Essential to Your Business Success

starry_nightWhen I first heard of the concept of “essence energy”, I was finally able to name the guiding force in my life and business I always knew existed. And when I heard the people I considered my business and marketing gurus pay so much attention to it, I knew it was important to listen. For all of us striving to build prosperous businesses based on integrity with our souls and hearts, this concept is the key.

Let me explain, the best I can, essence energy. Just like we have a unique genetic code, each of us has this special “energy code” specific only to our souls and life missions. It is our deepest passion and our core essence, our calling. It is a quality that makes us come alive, in vibrant colors, in oneness with the Universe. It fuels us. It is our connecting point to the Source. When we are using it in relating to the world, we are in our own element. When we express it, it connects easily with other people’s hearts and souls. It also could be, and often is, a treasure hidden behind our greatest life challenges, waiting to be discovered. Because it is also our biggest need and our key to self-evolution.

Your essence energy is the very core of you, the center of your being. It’s what makes you – YOU. And it is your greatest gift to the world. When you recognize it, you really recognize your own greatness, your own value. When you actively use it, you are 100% authentic. People see you for who you really are and they appreciate you for it. This is the energy that flows directly from your soul to their soul. This energy is why you are here on this Earth.

When you truly know and remember who you are in your very essence, and when you allow your essence to guide you to your highest good, all your life and business decisions become simpler. You know what you need to do and how because it feels good inside. And when you are in it, you come across as authentic, valuable, and needed. Your actions stemming from your essence energy get you in front of the people who are attracted to your quality and who need it in their lives. 

Here is the great part: When you are in your essence there is no competition. Only you have this specific quality to offer. Although your products or services might be similar to those offered by other people, your essence energy makes them unique and attractive to your perfect customers. When you are aware of your essence, you show it in every aspect of your business, so the right people see it and buy from you.

I encourage you to connect and name your essence energy. You might already know what it is or you might want to find out. If you follow the link below, you will find a helpful worksheet to guide you in defining your own essence energy: http://yourbusinessevolved.com/Resources/EssenceEnergyRequest.html

Be sure to let me know how it worked for you!

Margaret Moczkowski

Business Coach for Entrepreneurs

Momentum Coaching

www.YourBusinessEvolved.com

November 19, 2008 Posted by smallbizexperts | business coaching, entrepreneurship, grow your business, start a business | , , , , , , , , , , | 1 Comment

Why An Integrated Marketing Plan is Key to Building Your Business

Every day we’re bombarded by messages.  Recently my grocery store put in TVs at the checkout and in the produce department.  Not only am I suppose to be getting the latest celebrity news and recipes from hot chefs but I’m also absorbing all of the product placement ads. 

There’s one thing that major companies have mastered, mostly because they have the budget to do so, and that is Integrated Marketing Communications.  Small businesses can do it as well, and probably even better with a targeted plan.  (Now, this is a big subject and I will try to put give you the Reader’s Digest version so you get the gist….It’s definitely something I will talk about a lot!)

mktgplanwhiteboardWhy is it important?  Well, long gone are the simple days of a few newspapers, 3-4 radio stations and four national TV stations.  We’re in a world of hundreds of thousands of media, especially Internet, or non-traditional.  For big corporations, this means they have more places to spread their broad messages, but for you it means that there is a media outlet for just about every kind of business with readers/viewers/ listeners that could be your clients.

However, PR is not enough if you want to build a company with longevity.  The reason: Today’s consumers have a variety of interests and they are getting news and information from a vast number of means.  Everything from door hangers, coupon mailers, advertising, PR, sales promotions, sponsorship to attendance at relative events is what is building tomorrow’s small business leaders today. 

My most successful clients have understood this and while I was working on generating positive stories for them, they were off at events where they could find buyers and make an impact on the industry, offering incentives to retailers, sending out regular communications to retailers, partners and consumers and, when they had the money, advertising in key publications.  Most importantly, they were out talking about their company to everyone who would listen!

When you’re putting together your marketing plan, don’t stop at one marketing element like PR.  PR is wonderful but it’s even better when you can reinforce the message with alternative tools.  Consider your audience and all of the of ways they might see your message, and then determine how you can maximize your marketing budget to make it all happen.  (That’s right!  You need to be putting money into a “marketing budget”)  Maybe you hire a PR professional, or DIY, then follow up the positive media stories you receive with one year of coupon mailers with strong sales promotions, ongoing PR for interesting promotions and sponsor events where your clients will be…..and do it all over again.  There are a number of variables you can use just make sure they target your audience directly to ensure high return. 

Most importantly, and I’ll repeat it until everyone gets it, marketing is a LONG term process that is ongoing and never stops.  Even those companies with top of mind brand awareness, like Kraft, continue to market the brand and introduce new products all to keep the company growing.  That’s why a marketing plan is key to keeping all of your thoughts and ideas together and in line with how you want to market and grow your business.  Then you need to build a manageable time line of marketing tactics. 

Remember: In today’s world, no one gets ALL of their information from one source.  You actually have to go out and find your customer.  But once you unlock the formula that works you it will be worth the time you’ve spent.

Jennifer Fortney, Cascade Communications

November 17, 2008 Posted by smallbizexperts | Marketing, branding, business growth, grow your business, public relations, start a business | , , , , , , , , , , , , , , , , , , | 2 Comments

SEM is Advertising You Get What You Pay For!

primetimeSearch Engine Marketing (SEM) is money paid to a company for advertising. It is an advertising expense. Consider your budget for SEM just as you would for radio ads, newspaper ads, or billboards. You pay a certain amount of money for a certain time of exposure and once the time period is over your advertising period is over.

For example… $300 can get your radio ad played 12 times off-prime time between 9pm and midnight during the week. For $600 you can get the radio ad played 12 times prime time between 5pm and 7pm during the week.

The way SEM works on search engines is a bit different than scheduling times on radio, but it’s similar in you get what you pay for. For $2 per click you can your link to show up between the 5 to 10 ranking area on the right side of the page. For $8 you can get your link to show up between the 1 to 4 ranking area on the right side of the screen.

So, marketing online costs money, and it costs more money for prime time :-)

Chris Nastav, KC Web Specialists, LLC, www.kcwebspecialists.com
Experts in how business gets done on the Internet (913) 908.5642

November 13, 2008 Posted by smallbizexperts | start a business | | No Comments Yet

First Step In PR Success is Knowing the Media

antique-radioI am often surprised by the number of small business owners that don’t know where their customers get their news.  It is, after defining your demographic (read: customer), the most important thing you can do to be successful at generating PR. 

So what do you do?  You start reading, listening and watching media.  In particular those media that you think your customer is getting news and information from.  Today, that includes websites and blogs.  Yes, it takes some very valuable time out of your day, but it will, in the end, be priceless in how and where you communicate to your customers about your company. 

More importantly, you will begin to understand what particular journalists are looking for; you’ll begin to see what it is that they are specifically interested in writing about.  Just because they are a business writer doesn’t mean that they don’t have their own “beat” or particular area of interest.  Not every business, features or food writer is interested in the same thing. 

So, KNOW YOUR MEDIA and you will be able to write a customized news pitch that they will be interested in.  Remember, they write or produce stories based on what their readers are interested in.  If it’s of no interest to their readers, they aren’t going to do the story. 

Become intimate with the media (your media), traditional and non-traditional, instead of just spinning your wheels approaching media that are simply not interested.  This is why so many give up their efforts.  They are spending time doing PR that they fail to recognize whether their message is relavent to that writer. 

My recommendation: Spend a little bit of time each morning reading/watching/listening to three media outlets and increase the number each day.  It will soon become habit.

Jennifer Fortney, Cascade Communications

November 10, 2008 Posted by smallbizexperts | public relations | , , , , , , , , , , , | 1 Comment

Does Your Web Site Sell in 7 to 12 Seconds

aida1A person is in Olathe, Kansas looking for a plumber. So they go to Google and type in, “plumbers in Olathe Kansas“. Hmmmmm, several million results!! So now they read the top links and start clicking down the list.

What makes them stop their seaching and pick one plumber over the next? The answer is, a well written Web site that speaks to the searcher’s needs in 7 to 12 seconds. That’s right folks, for most find a business searches, Americans scan for 7 to 12 seconds and if they don’t see what they’re looking for, they’ve clicked the back button and moved down to the next company on the list.

So, look at your site, consider what it is you do as a company, and does your site speak to your target audience in 7 to 12 seconds.

Chris Nastav, KC Web Specialists, LLC, www.kcwebspecialists.com
Experts in how business gets done on the Internet (913) 908.5642

November 10, 2008 Posted by smallbizexperts | Search Engine Optimization (SEO), advertising, website development | | No Comments Yet

Your Own Business Now: How to Make a Shift from Thinking and Talking About Starting Your Dream Business to Taking Action

possibilities4Thinking and talking about your own dream business is definitely fun. It’s a safe way of playing a game My Dream Business. And that’s where a lot of people get stuck, some of them forever. So how do you create a shift from dreaming and fantasizing to planning and doing? These seven simple steps will encourage, motivate you and show you the way.

It all starts in your heart and in your head. That’s where all concepts are born and incubated until the right time comes to let them come out, show up, and become visible. Is now a good time for you to start taking meaningful action creating your own business? You know when you are ready. You feel it in your heart, your soul; you even get a sensation in your body  – it wants to move you in the direction of your dreams.

This is the most important shift in any business creation: from talking and thinking to doing and creating. That’s when it gets a chance to become a reality. That’s when “I might some day” becomes “I am doing it now”. And that’s where a lot of people get stuck, some for life. You don’t want to become one of them. You have seen them: a guy or a woman who’s had a passion and a great desire for something, dreamed about creating a life doing what s/he loved, but never got around to it. Lack of time, focus, resources, fear of taking risks were used as excuses, usually masking the feeling of being not good enough for their dream. Now they have this aura of a lack of fulfillment, sadness and disappointment around them. And they feel it’s too late, which actually might be just another excuse.

Let me assure you right away and with certainty: You Are Good Enough. If you can dream it, you can get it. Simple and true. With that aside, let’s talk about creating the right and purposeful action around your dream business.

Step 1. Take inventory:

Start with a look at where you are now and what you already have. You have a dream, a desire, a yearning. You have a passion. You have a vision. That’s an excellent beginning. Now let’s take an inventory of where you are with your business idea. How solidly developed is it? Do you feel it has bee thought through in every direction or do you still have some basic questions to answer? Be honest in your state of the union. If your idea is completely ready to roll, fine, if it’s half-baked, admit it. The important thing is to know where you really are so you know how to get to where you want to be. How ready do you feel internally? How confident are you in yourself to carry it out? How about any necessary resources you might need – financial, expertise, support? What’s your energy level when you think of starting this business? What about your desire level – how badly do you really want it? Again, be honest.

I encourage you to use a 1 to 10 scale when answering all these questions so you get a clear picture of what is. If you are not where you would like to be with some of these aspects, that’s ok. Knowing where you are will enable you to make sound decisions about what you have to do.

Step 2. Decide where you want to be:

In order to create a perfect business, first create a vivid picture of that perfect business in your mind and your heart. The clearer the vision, the stronger the attraction, and the quicker the manifestation in reality. Ask yourself where you want your business to be in one, two, or three years, whatever timeframe feels comfortable to work with.

Don’t be a minimalist and ask for the least. Ask for it all, in plentiful, in abundance. Ask for what you really want, what would make you more than happy. Think of sales figures that put a huge smile on your face. Do the same with all aspects of your business: How many clients do you want? What kind of products, services you want to offer? How many hours do you want to work per week? What kind of lifestyle do you want to be able to afford? How would this kind of success feel to you? What would it change in your life?

Spend quality time with your vision, fill it with all your desires and watch it take a life of its own. It will be your guiding light in the time of planning and creating. It will attract your highest good to you.

Step 3. Make a list of what needs to happen:

Now that you know where you want to be, it’s easier to think in terms of what has to happen so you to can arrive there. Don’t worry about prioritizing your list yet, just grab a pen and start writing all your thoughts and ideas on what actions need to be taken, what you have to take care of, what you have to learn.

I encourage you to make two lists right away: One for you, one for the Universe. This way you don’t feel it’s all on your shoulders to create; you can more confidently rely on the Universe to supply what you will need in the process.  The items on your list might be “Research and contact possible funding sources”; an item for the Universe would be: “Direct me to the right information about possible funding sources”.

When making your lists, consider the following questions: Do you have to spend more time with your business idea to finalize it and make it feel really comfortable? Do you need to talk it over and get opinions of trusted friends, or, better yet, of people representing your target audience? Do you need to educate yourself on some aspects of this business to feel stronger and more ready? What needs to happen for you to feel financially ready? Do you need financing?  Who do you need to contact to organize a proper business support? Do you need a business plan? List all things you think are necessary to create a successful enterprise. Make this list really extensive and keep adding to it whenever you think of something new.

Step 4. Organize and prioritize your action list:

Take your list and organize it first. Break some items down into smaller pieces if you need to. For example, “Research possible financing sources” might be broken down to: Research SBA’s website and educate myself about SBA financing opportunities, read a book regarding financing for small businesses, make a list of friends and relatives I can approach regarding investing in my business, educate myself about venture capital financing, research equipment leasing options, etc.

Now prioritize all action steps according what needs to fall in place first, second, etc. Then assign due dates to your items. Due dates create a stronger intention and a more solid commitment. There is magic in due dates: If you do your best to accomplish something by a certain date, the Universe will cooperate by supplying all things needed for you to be able to do just that.

Step 5. Create an organized action plan

Now create the final plan of action. Finalize your decisions on the order of playing with different list items, whether you will be able to handle some steps simultaneously, whether some items will require your absolute focus and attention.

When creating your action plan, take into consideration how much time you have available to actually spend on working on it on a daily or weekly basis so you can set realistic expectations. Remember to structure it in a way that will allow you to enjoy the process of your dream business creation. The process counts just as much as actually getting there.

Step 6. Get into action

That’ just it, get into action. It’s easy now, because you know what to do first. Put it in your calendar and start creating. There is nothing better than being in action, it creates a shift in our readiness, and it opens us up to the support of the Universe. So go into action joyously and expect things to fall into place. Anticipate a fascinating journey when you start creating your business; you will learn a ton, you will expand, you will get to know yourself like never before.

Step 7. Revisit your action plan and make adjustments

Decide how often you need to revisit your action plan and make adjustments. Once a week? Once a month? Put it in your planner. Stay in touch with the big picture. Stay in touch with your grand vision of success. Start your day with this vision. Let it energize you, let it attract to you all that you need and desire, and more.

 

Bon voyage!

 

Margaret Moczkowski a certified, professional business coach. She helps entrepreneurs evolve their business and reach their optimal level of success and prosperity quickly and painlessly. She coaches entrepreneurs on creating business vision and setting goals aligned with who they are and committing themselves to discipline and accountability to stay focused and purposeful in their actions. She consults them on designing business and marketing strategies guaranteed to reach their goals. To learn how she can help you in your business evolution, please visit her website: www.YourBusinessEvolved.com

 

November 4, 2008 Posted by smallbizexperts | business coaching, business growth, entrepreneurship, start a business | , , | No Comments Yet

More Proof Why You Need to Make a Marketing Push Now!

  In reference to my last post on making a marketing push during economic down times, I wanted to post an excerpt from an industry marketing publication to re-itterate that other professionals will tell you to do the same (Just in case any of you thought that I was nuts for making the suggestion!).  This particular excerpt comments on Internet advertising. 

“Many business analysts are advising that recessionary periods are actually times to punch up advertising to snare market share from competitors.  An example is respected Harvard Business School professor John A. Quelch, who noted in a recent blog: “This is not the time to cut advertising. It is well documented that brands that increase advertising during a recession, when competitors are cutting back, can improve market share and return on investment at lower cost than during good economic times.”

But….a recession is also a time to be more efficient about advertising by reducing cost per lead and closely measuring results. 

“Advertisers on our network tell us they appreciate that they can measure the click-through they’re getting and quantify the consumer conversions to the desired action — and that’s appealing during these tough economic times. Because they can prove results, they’re buying more Adfusion and less of other alternatives…..”

While print advertising still makes an impact on building a brand, maybe there is a balance between it and the more affordable online counterpart, PR and promotions.  This is what we pros call an integrated program and is what every successful company does.  In fact, many traditional media outlets offer online ad options and are looking to grow that component of their publication – very worth looking into. 

The real keys to successful advertising campaigns are:

  • Long term campaign – you can’t spend money on one ad and expect it to drive sales.  Branding, in general, is a long term process
  • What you say – the failure of ad campaigns are typically a result of failing to communicate appropriately to your customer. 
  • Drive interest/encourage trial – this is a great time to let people know about any sales promotions you’re running.  People are looking for deals and steals and it will catch their eye.
  • Where you say it – are you sure that you’re advertising in the right location?  If your goal is to attract women you wouldn’t advertise in a men’s magazine.  This is why knowing your target demographic is key – who are they, where are they getting knews, what are they interested in, etc.

Follow these tips and you will start to see a return even in a slower economy.  Stick with it and remember you need determination and better messages now more than ever before. 

Jennifer Fortney, Cascade Communications

November 3, 2008 Posted by smallbizexperts | PR, advertising, branding, public relations | , , , , , , , , , , , | No Comments Yet