marketing & advertising for the entrepreneur
DESCRIPTION
Essential concepts for starting and growing a businessTRANSCRIPT
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Steve WillingerSmall Business Marketing Professional
Social Media Strategist
Keynote Speaker
Bristol, TN
MARKETING & ADVERTISING For The Entrepreneur
Entrepreneur ExpressFebruary 23, 2010
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• Marketing Today• Social Networking• Planning for Success• Advertising for the Small Business• Developing a Marketing Budget
Today's Agenda
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• Advertising is struggling• Expectations are increasing• Competition is everywhere• Time is a scarcity• Technology has become an integral component
A Few Facts
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“Everything you do to place your product or service in the hands of potential
customers.”
• Creating a customer• Keeping a customer
Marketing is. . .
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Social Networking?
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Social Media
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• Anticipate future events• Define a direction• Create a blueprint
Marketing Plans
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Marketing Plans
“A written plan turns your marketing into
a planned investmentrather than a hopeful risk”
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• Easy to understand• Clearly links objectives to strategies• Specific and measurable• Flexible• Provides for checkpoints
A Good Plan…
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The Marketing Plan
• Reality Check* Current economy* Understanding success factors* Challenges your company faces
• Customer Analysis* Demographics, purchasing behaviors
• Competitive Analysis* SWOT analysis, competitive changes,
challenges
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The Marketing Plan
SMART Objectives• Specific• Measurable• Accurate• Realistic• Time-based
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The Marketing Plan
• Strategies must be linked to the objectives• Well thought-out strategies can provide
discipline• Minimizes the tendency to react
• Provides a benchmark for measuring success
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7 Step Marketing Plan
1. State the purpose of your marketing.
2. Define your target audience.3. State customer benefits to
emphasize.4. List marketing objectives &
strategies5. Describe your market6. Establish your budget.7. Prepare an Action Calendar.
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The most “convenient” method of communicating to your target
audience the benefit of purchasing your product or service.
ADVERTISING is . . .
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The key is to ensure that they take notice of yours!
HOW?
Fact: Most people ignore advertising
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LocationRegular advertising will build awarenessConstant Focus on Sales and MarketingCommunity InvolvementPublic RelationsCommunicationCustomer Service
Make sure your company is Recognizable
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Make sure your company is Memorable
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Advertising puts your company at the forefront of people’s minds. Advertising either stimulates a purchase or helps to ensure that people know where to go when they do decide to purchase. Advertising also confirms a customer’s decision that doing business with you was a good idea
How Does Advertising Work?
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Branding
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• What is it going to cost?• What methods would benefit my
business the most?• Meet with a professional
QUESTIONS ASKED . . .
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% of lifetime value of customer% of previous annual sales
% of desired sales8-10% average retail (b2c)
4-6% average wholesale (b2b)
Marketing & Advertising = Customers
Advertising Budget Basics
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Steve WillingerSmall Business Marketing Professional
Social Media Strategist(423) 797-0355
linkedin.com/in/stevewillingerfacebook.com/stevewillinger
“It’s your turn for Comments and Questions”