Archive for the ‘Tips and How-to Articles’ Category

5 Lessons on Marketing for the Recession

Are you trying to find a way to beat the recession and boost your sales?

I thought this article from B2B Marketing Confidential could give you something to think about as you revise your marketing plan (if you have one, that is *wink*). I believe that how good your business can be during these hard times really depends on how you view the current economic condition and how you interpret all the bad news you hear in the media.

You have a choice not to participate in the recession. Here is the article:

……………………..start………

Depression Marketing Best Practices

No, we’re not in a depression. But, given all the recent depression buzz (Krugman’s book, non-stop CNBC pundits who won’t shut up about crashes and black Mondays and Fridays,) I pulled Studs Terkel’s fantastic Hard Times down off the shelf the other night. There’s a section in there called “The Big Money” where he interviews people that actually did well during the Depression. Here are some outtakes from William Benton’s interview:

“I left Chicago in June of ’29, just a few months before the Crash. Chester Bowles and I started in business with seventeen hundred square feet, just the two of us and a couple of girls. July 15, 1929–this was the very day of the all-time peak on the stock market.

As I solicited business, my chart was kind of a cross. The left-hand line started at the top corner and ended in the bottom right corner. That was the stock market index. The other line was Benton & Bowles. It started at the bottom left-hand corner and ended in the top right-hand corner. A cross… When I sold the agency in 1935, it was the single biggest office in the world. And the most profitable office.”

Well, this is an interesting case study, I thought. Maybe I should pay attention. The most amazing thing about Hard Times is how familiar it seems. The passages talking about bubbles, business cycles, people’s incredulity at how all this happened is really eerie. So how did Benton & Bowles kick butt in the depression? Here are some best practices:

 

  • They essentially invented audience research. When they heard a lot of people listening to “Amos and Andy” on the radio, they bought it straight away. They put a Pepsodent spot on and sales went through the roof. They worked with George Gallup. They listened to customers. This was new stuff.

Lesson: Marketers who listen to their customers in new and powerful ways will win the battle for fewer dollars.

  • Radio was the newest new media at the time. Basically, they were investing like crazy into stuff that the big agencies didn’t understand yet. They were young–late 20s–and didn’t know any better. 

Lesson: Those who master the next wave of media will rise above the fray. Mobile? Social? Something we haven’t seen yet??

  • Once into radio, they perfected “audio illusion”. Example–they cast two people in one role on “Showboat”, a program to promote Maxwell House Coffee. A sexy singer for the audio, and a known actress for the voice. They also started adding in sound clips of the coffee brewing and pouring. Sales doubled and quadrupled, crushing store brands. The other agencies were angry because it was improper to do these things at the time. 

Lesson: Just because things are done one way, don’t fear doing it a totally different way. Thinking outside the box is critical.

  • Once this guy had a lot of money, he was able to buy businesses at bargain basement prices. He bought Muzak for next to nothing and built it into a national behemoth.

Lesson: Keep some powder dry. The really good investment opportunities are starting now. Once you buy, own and retool. Pretty good time to be a PE company, even if Carlyle is laying off.

  • He also comments on how he was able to add incredible talent at low prices because of the glut of labor supply. His salesmen improved every year as they could screen more and more applicants for these jobs. 

 

Lesson: Keep hiring channels open and be pickier than ever.

For anyone who hasn’t read Hard Times or any of the Studs Terkel interview compilations, they are an incredible insight into people’s attitudes and behaviors throughout history. I highly recommend them.

……………………………………………..end……….

How to use PR to Brand Yourself

Here is an excellent post that succinctly explains how PR works. It is an interview by Chris Winfield with Neil Patel on Quicksprout.com. You can learn a lot from it.

Here are the points you can learn:

  • how to get a PR opportunity
  • steps you should use take to get coverage
  • How PR has help you brand yourself
  • How you can brand yourself using traditional media
  • PR is a long process, how to speed it up the process
  • PR secrets that can increase your chances of getting covered

Jump to QuickSprout post here

Do you think personal branding is important? Pls comment

Smart Tips for Newspaper Advertising for the Small and Medium Businesses

I always discourage small and medium sized (S-M) businesses from plunging into an advertising campaign as a means of publicity. The reasons are simple enough: the advertising space is too cluttered and almost all S-M businessess don’t have deep enough pockets to fight the big boys.

My advise, always work with PR first, then use smart advertising strategy to complement your PR efforts. I came across this article which I think all S-M business owners would benefit. 

source: http://www.businesstown.com/advertising/newspaper-advice.asp

Streetwise Tips on Newspaper Advertising

1. The biggest waste

A huge percentage of newspaper advertising is a complete waste of money. Newspaper advertising can be profitable, but all too often, it isn’t. This is especially true for small businesses.

Many small businesses feel they have to advertise, and without much thought or research toss ads into the local paper. Typically the only reason they have chosen newspaper advertising as their communication vehicle is because the newspaper ad salesperson was the first person to call on them!

Why don’t newspaper ads always work for small businesses? The most common reason is that they get lost in the paper. Small businesses tend to run small ads with mediocre copy and no illustrative materials, such as photographs or art. And small business people often don’t take the time to measure ad results. Without measuring results, they have no sound basis for improving their creativity, their copy, their offers, or even their choice of media.

2. Product ad dilemma

It is extremely hard to make product ads work. For instance, we placed eighth- to quarter-page ads for different books that we publish in the national edition of the New York Times and regional editions of the Wall Street Journal in cooperation with various book store chains. These chains stock our books in hundreds of their stores, and we are able to track sales through their computer inventory systems and determine whether or not advertising can be linked to a sales increase on any given book. We found that an ad costing in the $2,000 to $10,000 range, not including production costs, typically generates less than ten additional book sales.

These product ads, in effect, caused a 95% to 99% net loss in profitability.

The only “winning” ad that we placed for one of our books, for instance, ran under an extremely clever headline and offered a terrific discount. Still, it covered costs but did not net a profit!

3. Product ad tips

Concentrate your product ad dollars in large ads rather than in frequent ones. Develop a punchy headline and include snappy illustrations or photos. Include sell copy for the serious potential buyer. And don’t forget to tell prospects where they can purchase your product.

4. Service ad tips

Run service ads where prospective customers will typically see them. The service directory of the local newspaper is usually an appropriate spot. Service ads need to clearly state the nature of the service offered. A great headline isn’t necessary because the prospect is generally already interested in obtaining the type of service you are offering. But you do need to convey a powerful competitive message through your ad. This advantage can take the form of a free trial, new customer offer, special bonus, or free estimate. If your competitors advertise on any particularly strong points that have great consumer appeal, match those points. And highlight a unique reason for clients to call on you first. Some service seekers call every service provider for quotes, some call two or three, and some call one. Make sure yours is the first call made.

And also remember, despite what an advertising salesperson may tell you, the most compelling, not necessarily the largest, ads tend to generate more “first calls.”

5. Generous offers

People expect to see “sale” and “specials” advertised in newspapers.

Whether you are advertising products or services, try to offer a special price or bonus to your customers. Make the offer generous. Ten percent off the regular price, especially in this age of national discount retailers and competitive pricing, just won’t cut it.

It costs a lot of money to run ads and response is often iffy, so offer deep discounts on a limited range of products or services. This is a tactic that lures the customers in and, ideally, while they are browsing, they will purchase other nondiscounted items that have a higher margin. In a best-case scenario, they will become regular customers.

6. Special rates

Large metropolitan newspapers and many small local or regional newspapers offer a lower ad rate called the “local” or “retail” rate to local or retail businesses. If you are selling a product through local retailers, you will save money if you get the retailer to place the ad even if you reimburse it for all costs involved. In some industries, however, the retailer typically shares some portion of the ad space with the manufacturer or supplier.

Newspapers also offer volume discounts if you guarantee to place a certain number of ads over the course of a year. Read the fine print regarding penalties for nonfulfillment on any contract you sign that involves a “frequency” rate. Generally, however, the penalty for failing to meet your placement obligations is payment of the “non frequency” rate for those ads you did place.

Still, it can be painful to reimburse the publication for the higher ad rate.

7. Negotiating rates

Generally, you can negotiate rates off the rate card with smaller papers or papers that don’t have the readership edge in their marketplace. And if your ads are particularly clever, you can sometimes negotiate a better rate deal with a larger newspaper.

Several years ago I wanted to run several full-page ads in a newspaper owned by a large U.S. media company. This company was notorious for adhering to their rate card. But I was determined to negotiate a discount. I called my advertising representative’s boss and politely explained to her that I needed to negotiate a lower rate or I wasn’t going to place an ad at all. This creative individual, wanting to keep my business but unable to go against a strict company policy on rates, established a new rate category just for me! I ran my ads for 30 percent less than any other advertiser in the publication!

…end…..

Do you own a S-M business? What is your experience in advertising in the newspapers? Are they effective?

Feel free to leave a comment….

 

Do you really need a PR professional?

Have you ever wondered why some companies are highly visible in the media but not others? What does these companies have that the others don’t?

They have a PR professional working for them, constantly working to get free media coverage, boosting visibility and credibility of their brand.

Here’s what a PR professional can do for your business:

  1. His main objective is to add value to your other promotional efforts. He knows how the different promotional strategies works together and uses to amplifying power of media to your advantage.
  2. He is able to develop newsworthy events and weave promotional stunts into your marketing campaign to capture the attention of the media.
  3. He develops and cultivates excellent media contacts and therefore knows where and who to pitch your stories to. He is in regular contact with media channels be it newspaper, radio, TV or magazines.
  4. He writes high impact press releases and designs press kits for the media that will grab the attention of journalists.
  5. He presents your company in the best light possible to the media to increase your brand power and further your marketing objectives. He can put you or your company as an expert in a particular field.
  6. He is able to place feature stories and news about your company and yourself in the right media channels that your target consumers actually reads or tune in to. This is because he knows what kind of stories the different media channels wants and will produce story angles specific to each media channel.
  7. He always works towards achieving a strong media presence for your product, services or even you thus increasing public awareness and interest in your brand. Who knows, you might just attract potential investors through all the media coverage.

Now, wouldn’t you want your company to sizzle?

Why So Many PR Practitioners Do PR Badly

Came across this article on www.raintoday.com. The contributing editor, Bruce W. Marcus, chatises PR professionals for being, well, unprofessional and out of touch with developments in journalism. Oh dear! Nevertheless, it is a good read and a good reminder for all PR people out there (myself included).

Why So Many PR Practitioners Do PR Badly

By Bruce W. Marcus, Contributing Editor

If you ever get to thinking that public relations is so easy that anybody can do it, then spend a day on the receiving end – the editor’s desk. If public relations is so easy to do, how come so many practitioners do it badly?

From major corporations, and both small and large public relations firms, comes a stream of so-called releases and other material that’s so inept, and so primitive, that you must ultimately realize that those that do it right must have a vast array of skills, talents, and imaginative energy.

It must be difficult, because how could it be simple when so many people do it wrong? And of course, the client pays the high price of doing it wrong.

Mailing Lists

My newsletter, The Marcus Letter, for example, is a very carefully designed publication. It’s target audience – professional services – is spelled out, its subject matter is abundantly defined, its thrust is far from secret.

And yet, each day’s mail brings releases about products or services that have nothing to do with anything in The Marcus Letter.

There’s liquor and perfume company pitches, a Fedex package containing a video tape and a press kit for a computer football game (at least $20 worth, sent to a publication that couldn’t possibly use it), personnel releases to a publication that doesn’t include personnel news, pitch letters for stories that are so irrelevant to what we do that I can’t believe that anybody over 12-years-old is doing it, and a press release from a fast food company announcing the appointment of the head of a “new guest satisfaction initiative in the role of Director of Customer Delight.”

What about that basic tenet of good publicity – know your target publication? Each year, hundreds – maybe thousands – of dollars in wasted mailing.

Press Releases

In virtually a lifetime of doing this, one of the major tenets of public relations that I’ve learned is that a press release must cast your story in the same syntax as the major daily papers. You’re competing for space against the papers’ own reporters, and you’d better write your release in newspaper style.

How, then, account for this, which arrived with the standard notation:

For immediate release…

Enjoying a great bottle of wine has never been easier. XYZ company (to protect the innocent, if innocence indeed there may be) is pleased to introduce Cellar, a unique wine-tasting program that brings the world’s private cellar to your front door every month.

Makes you really want to stop the presses and tear out the front page, doesn’t it?

The Changing World of PR

What further complicates the situation is that journalism has changed, but a great many practitioners (not all, thank goodness) are still stuck in the past. They certainly seem not to have noticed that the old five W’s (Who, What, When, Where, and Why) have disappeared, as have the old pyramid structures (the most important paragraphs first, then on down).

The exhortations to the old line journalists never to use the letter I (if you must refer to yourself, you’re supposed to have used we) have fallen back into the woodwork. Where once the New York Times set the style for journalistic style, today that style is set by blogs and the internet. In fact, even the Times has conformed to the new style.

Now, the great universities teach courses in public relations, and I assume their graduates know better. But that may be a poor assumption, since so many journalism courses are taught by old, retired journalists.

Who then is doing this? Is practicing public relations so easy that anybody can do it? And where are the department heads and chiefs – the ones who used to say to the likes of me, “No, that’s not how you do it. This is how you do it”?

No wonder so many editors hold so many public relations people in such low regard (but, fortunately, hold so many more in high regards. They know when good is good and bad is bad.)

I think that it’s so easy to get into public relations that there are too few knowledgeable and aware people teaching too many newcomers.

What we see now, in this rapidly changing communications world, is best characterized by the observation of that great philosopher Yogi Berra, who said, “Ain’t nobody here knows how to play this game?”

Raising the Quality of PR

And what about the clients – the ones who are paying for expensive mailing pieces to editors who can’t use them and press releases that no respectable publication will use? How much are they wasting each year? And what happens to respect for the value of public relations when all that wasted money produces so little useful result?

Maybe what’s needed is a travelling exhibit – sponsored by Public Relations Society of America or somebody – of outrageous public relations practices that embarrass all the good practitioners. A kind of a Grand Guignol of public relations horrors. Every editor in the business could send them new stuff every day.

Barring that, every PR person should be made to read both blogs and the New York Times regularly.

Then there’s the time I was chatting with my old boss and mentor, Ruder & Finn’s Bill Ruder about the changing nature of public relations. He said, “In the final analysis, public relations is an art form, and no matter what changes, if you’ve still got the art, you’re still in business.” As ever, Bill was right.

And I note, too, that the success of leading public relations practitioners, like Richard Weiner (another of my mentors) and Richard Levick and Larry Smith not only have the art, but understand change.

If Edward Bernays, the self-styled father of public relations, could see these anachronistic practices, he’d turn over in his grave. But only if he could get a couple of columns on the front page of The New York Times for the stunt. He knew his craft.

Bruce W. Marcus is a contributing editor for RainToday.com. Bruce is an author and consultant based in Connecticut, and co-author of Client At The Core: Marketing and Managing Today’s Professional Services Firms. He is editor of The Marcus Letter on Professional Services Marketing and The Marcus Perspective. You can e-mail Bruce at marcus@marcusletter.com.

How’s Your Reputation

by John Jantsch

Everything on the web about you, your products and your company is true – unless you manage otherwise.

The onslaught of user generated media, blogs and discussion forums has changed the flow of information about people, products, and brands forever. Anyone with a computer or video camera can post information, reviews and comments about you and your brand on dozens of highly visited online destinations.

It’s no longer enough to create a web site and assume that prospects will get their information about your firm on your site. In today’s online social media world companies of all shapes and sizes must actively participate in something commonly called online reputation management.

Of course the best way to manage your online reputation from a business standpoint is to put out great products and services, provide great customer service and honor all your commitments. That’s certainly a great start, but you may still need to develop the practice of monitoring and responding to what’s being said online about your organization, both good and bad.

Reputation management, however, isn’t simply about responding to the negative, it’s equally important as a way to amplify the positive.

Here are some simple ways to get started creating a reputation management program.

News Alerts

Google allows you to set up customer searches on Google News for any phrase, such as your name. When you subscribe to this search, either via RSS or email, you will receive an alert any time your search phrase shows up in the news.

These sites, BoardReader.com and ForumFind.com, allow you to keep track of what’s being said on bulletin boards and forums.

If you really need to monitor what’s being said online closely use thesearch.twitter.com feature of a micro-blogging site called Twitter to follow what’s being said in real time from this growing community.

Participate in Social Media

One of the ways to combat any potential negative comments is to make sure you have lots of positive content showing up for searches on your name or company.

Practices such as adding a blog to create frequently updated content, creating well written LinkedIn and Facebook profiles, and writing and submitting articles to article directories can help assure that you have lots of content online that’s attributed to your name.

Hosting a blog and inviting all manner of comments from customers is another great way to keep an eye out for potential issues. If a customer has an issue and you help them get the answer by way of your blog you may very well turn that issue into a real positive and stop them from posting negative comments elsewhere.

Social Search Engines

Claim and enhance your business listings on search engines such as Yelp.com, InsiderPages.com, CitySearch.com and JudysBook.com. These sites allow you to enhance your business listing and allow users to rate your services and write testimonials. The best thing you can do on these sites is create a great profile and then encourage your customers to post positive reviews. More and more these reviews are being picked-up by search engines like Google and shown in their local directories.

Build Your Reputation

Recently, a number of sites such as Naymz.com and Rapleaf.com launched with the sole purpose of allowing you to build an online reputation by inviting people to write reviews about you and your work. LinkedIn, the professional networking community also allows and encourages this practice

John Jantsch is a marketing and digital technology coach, award winning social media publisher and author of Duct Tape Marketing. He is the creator of the Duct Tape Marketing small business marketing system. You can find more information by visiting www.ducttapemarketing.com