Strategizing Your Promotional Marketing Mix

In business or marketing strategy, you have probably heard of the “4 P’s” of marketing (Product, Price, Place and Promotion). The promotional aspect can also be described as the “Promotional Mix” and it determines what actions to take to reach your target audience. If you find yourself asking “How do I know what works?” the answer begins with your target audience. This blog post will help you to strategize your marketing plan and I’ve even included estimated costs.

Marketing Tactics

  1. Business Name

Your business and brand name is crucial to your success. ($1,000 – $8,000)

  1. Logo

Your logo should represent your company and your brand. This is a must-have and quality does count. An affordable solution is 99Designs. If design and creativity isn’t your strong suit then you should invest in an engaging logo. ($500 – $10,000)

  1. Slogan

This may be optional, but this short description can explain your unique value proposition to the market. ($500 – $5,000)

  1. Website

Developing a website can be almost free (e.g. from WordPress or another free online template) or a substantial investment. It all depends on your ability to build a website, develop a strategy, content, etc. It will cost less if you can write it yourself and supply the photography, but if you don’t want to build a website, you should hire someone who does. You can also save money by being involved in the planning and content selection. ($5,000 – $50,000)

  1. Content Marketing Schedule

Unless you’re ready to draft a content marketing plan you should probably enlist some help. Providing valuable content will help move your targets through a track-able process.

  1. Email Marketing

This will help you provide value and disseminate you content. Free templates can be set up with any number of online eNewsletter programs. ($50  – $20,000)

  1. Social Media

Set up your social media profiles (Facebook, Twitter, LinkedIn, Google+, YouTube, Instagram, Pinterest, etc.) and ensure they are consistent with your branding and messaging. You should be able to do this yourself, but make sure you’re on the right networks – correctly.

  1. Blogging

Writing a blog is free and easy to do once you’ve planned your content strategy. Creating a blog will help you keep your website content fresh.

  1. Signage

Signage will let the market place know that you exist and help people easily you’re your location(s). ($500 – $50,000+)

  1. Directories and Classified Ads

Whether online or in a newspaper, these should be a cost-effective method to list your company in it’s target industry. People searching for specific items can locate your ad by category. ($25+/each)

  1. Community Newsletters

If your goal is to reach a specific community, than community papers may provide you with a cost-effective tactic, however readership varies. ($50 – $500/ad/size)

  1. Outdoor Advertising

This tactic will increase your local presence. Outdoor advertising covers a variety of media, including lawn signs, bus benches (0 – $200/month), shopping mall signs, billboards and building sponsorships. ($5,000 – $50,000+)

  1. Videos

Videos are an extremely important, especially within your content marketing strategy. They can be used in a variety of mediums including both digital and traditional marketing tactics.  ($2,000  – $50,000)

  1. Search Engine Optimization (and Outsourced Content Creation)

Your company and it’s digital assets need to rank highly. Enlisting the services of an expert will save you time, which will allow you to get back to business. ($1,000 – $5,000/month)

  1. Radio

This brand awareness tactic will increase your presence with commuter traffic, especially in rural communities. ($3,000 – $10,000/month)

  1. Television (TV)

Advertising on local (or national) television can greatly increase your brand awareness and increase recognition. (Estimate $1,000 – $10,000/month + production – you need a solid 30 second spot)

  1. Newspapers

Newspaper (local or national) can help build local, immediate attention and over a period of time can increase brand visibility. ($2,000+/month – depending on ad size)

  1. Promotional Products

These are branded items that you send (or give) away to gain (and retain) attention. In Calgary I recommend Level2, however there any many choices in every city.

  1. Direct Mail

Targeted, local direct mail can be effective if there is a valuable offer or create that stands out. This can also be applied to eNewsletters or digital marketing. ($0.5 – $3/ household is consistent depending on the creative you are mailing)

  1. Digital

There are many new online advertising channels to consider. Start with Search Engine Marketing (SEM), which is essentially your online search traffic that should relate to your company, product or service. Then look at display advertising, which is the online version of billboard advertising, layered in with retargeted and behaviour ads. Next think about social media advertising (YouTube, Facebook, Twitter, LinkedIn). If you’re confused by the above let me know and I can help. While marketing budgets may vary they are also affordable and track-able. ($25/day+)

  1. Customer Relationship Management (CRM)

A CRM system, emails and phone calls will help you manage current relationships, increase referrals and attract new prospects to be clients. If you don’t have a sales process or strategy you will not generate new business. ($25/month+)

  1. Recommendations, Success Stories and Celebrity Endorsements

Some of these are free or earned and others are not – however all will help you increase credibility within your market place. Always be aware of the risk.

Build Your Promotional Marketing Mix

Choose your promotional marketing tactic based on your target audience. This includes the volume, type, and geography of the target customers you are trying to reach. Depending on your marketing strategy (or objectives), choose the method that is the most direct and provides the most value. Your target prospects need to engage with your market for it to be a success. Forecast and plan your marketing budgets to ensure that you allow enough budget to carry your campaign throughout completion. Don’t be afraid to take a chance. Just be sure to measure the results of your marketing.

5 Things to Consider Before You Start Marketing (or Advertising)

Marketing and advertising isn’t easy and it usually isn’t cheap. While you can find cost effective tactics you there are 5 things to consider before you start marketing.

  1. Set Objectives & Benchmarks

You need to know what your objectives are and what benchmarks (if reached) will make your marketing tactics or campaigns successful. This can include impressions, visitors, clicks, leads, conversions, cost per lead/conversion, etc. Knowing the specific results you want from each campaign will allow you to take the guesswork or emotion out of your decisions and invest in what marketing tactics perform.

  1. Align Marketing with Sales 

Before you start advertising, think about who, what, where, when and how you generate a sale. This will determine when and where you want to advertise. Without alignment, you won’t generate any revenue or return on your marketing investment. You should also think about capacity and inventory. You don’t want to advertise unless you can deliver.

Consider these questions and they will help you determine the appropriate marketing medium mix:

  • How many calls, leads and emails can me (or my team) effectively handle in a day/week/month?
  • How do you handle each incoming lead?
  • Do you make outbound phone calls?
  • Have you conducted sales training?
  • When do you receive the most leads or sales?
  • Is there seasonality to be considered?
  • What marketing mediums generate the highest quality of leads?
  • Who converts the most leads and where do they come from?
  1. Plan Your Messaging & Creative

Marketing performs best when you provide value and are focused around solving an issue or a need. Your creative and messaging should focus around your customers. Don’t hard sell or only talk about yourself. Create benefit-worthy messaging to help increase the results of your marketing.

Consider these questions when planning your messaging or creative:

  • What key issues are important to them?
  • Is there a point of view to consider or address?
  • What emotions or feelings do they experience before, during and after converting from a lead to client?
  • Can you provide unique value?
  • Is there a competitive position to take?
  1. Find the Best Marketing Mix

Consider a variety of marketing strategies and tactics. This includes local advertising (TV, radio), outdoor (billboards, transit), direct marketing, digital (display, PPC, SEM), social media, mobile, etc.

Marketing Strategies to Consider:

  • Radio works well in commuter markets from 6 AM to 6 PM. It requires very little production cost, and you can change your message in hours
  • TV works well in the evening (7 PM to 12 PM) and can provide increased emotional branding, however production costs are quite high
  • Outdoor advertising works well when generating local brand awareness, however you need to be in market for a few months to generate results
  • Direct mail works if you have a small area to target and you can create something that will stand out in the mail
  • Digital marketing can be cost effective, flexible, and highly measurable/trackable
  • Social media is an important tactic, which will help drive awareness, leads, and prospects to your business
  • Everyone is spending more time on his or her mobile devices, so don’t forget about that medium
  1. Implement, Test & Measure

Testing will help you improve and fine-tune your marketing efforts. Think about this before you launch a campaign to so you track it and measure results. Review monthly or quarterly and decide if you need to end the campaign, renew, refine, etc.

7 Tips to Set-Up and Optimize You Pay-Per-Click (PPC) Campaign

Looking for ways to make your advertising budget work? Think about running a Pay-Per-Click (PPC) campaign. These campaigns will show up in search engine search results when your potential customers search for keywords associated with your business.

You only pay for clicks on your ad and you can easily track how well your campaign is doing in attracting new customers to your company’s website. Then you can adjust your campaign to maximize your return on investment (ROI). Here are 7 tips to set up and optimize your PPC campaign.

1. Choose Your Keywords

Create a list of 20-50 keywords that relate to your company. From this list, use these keywords in your static (webpage pages that don’t change) and dynamic (e.g. blogs, videos, etc.) content so you will rank higher when prospective customers search for those terms. You do have to remember that you’re competing against other companies in your industry for these keywords so avoid generic terms and invest in terms and phrases that will differentiate yourself. You can use free keyword tools from Google to help with this as well.

2. Set Your Monthly Budget

Decide on the maximum amount you will pay each month for click-throughs to your website. Once that amount is reached, your ad will stop appearing. For example, if you pay $0.50 per word and select a budget of $500, your ad will run for 1,000 click-throughs.

3. Place A Bid

When you bid through an auction on keywords, remember that pricing is driven by supply and demand. Popular keywords cost more and that’s why you need to focus on what differentiates you from your competitors when selecting your words.

4. Align Your Landing Page With Your PPC Ads

To increase your quality score (the score Google gives your ads) and to keep the user experience consistent. Your goal is to turn website visitors into customers, so make sure your site is aligned with your PPC ad creative. The landing page should have the same offer as your ad and be clear, compelling and differentiated from your competitors.

5. Target Your Audience 

You can target your ads to potential customers in specific geographic locations. This will help you geo-target your ads around your service locations and customize your creative. Local campaigns perform best.

6. Analyze Your Results 

Major search engines provide analytics and reports that tell you how well your ads are working and how you could improve your campaign(s). Monitor how many clicks you have earned as well as data about your visitors, including their geographic location. Above all, keep a close eye on your conversion rate. A conversion is a click-through that results in an action such as a sale or a request for information. Tracking your conversion rate allows you to determine your return on investment (ROI).

7. Learn & Adjust 

As you track your results, try using different keyword combinations, starting new campaigns, changing creative, adjusting ad copy or targeting different locations, to see what works best.

4 Common Mistakes with Retargeting Ads

Retargeted ads offer so much potential. When a consumer goes to look at a brand or publisher’s content, they’re making the first step in developing a relationship with the company. Retargeted ads, when done right, should still create that brand recognition, but it should also go a step further and encourage brand loyalty, advocacy, and community.

Here are 4 common issues with retargeted ads:

1. Being Static

Repetition can either increase or decrease brand awareness and overall result.  You don’t want to be static and repetitive, but rather memorable and engaging. Every time you have someone look at the same image it’s going to lose it’s impact – especially when it’s already a fairly standard-looking image. Today especially, people are used to a constant flow of new information. Each interaction so be valuable.

2. Lacking Amazing Content

People don’t like ads (or content) that don’t provide value or are engaging. The burden for advertisers is to create content that is just as, if not more, interesting as the competing content on the page. This means the content should be unique, visual, and useful to your audience – even if its usefulness is just that it’s entertaining.

3. No Interaction 

Give your audience the chance to get creative in your ad experience, and make sure that that content is shareable on their social channels. Often companies will create these experiences as standalone pages, but there’s no reason why creative content can’t live within ad units around the web.

4. Not Being Human-Focused 

Every ad needs to have a human element – something your audience can see and relate to. Chances are, your audience isn’t going to relate to the model you place on every website. People can relate to their friends though. And they can relate to stories from people that could be their friends. This is where user-generated content comes in. Using retargeting to connect with the users most likely to engage with your company is great. However, you’re not going to promote any kind of longterm relationship or engagement with a boring (and ignorable) ad.

Is Facebook Advertising Right for your Small Business?

Small businesses should consider adding social media ads to your annual marketing strategy. That means small businesses should not automatically write off advertising on Facebook. The key to being successful with Facebook advertising is managing expectations. There are conflicting reports regarding the effectiveness of Facebook ads. Do comments and advertisements drive purchases? Unfortunately, there isn’t a clear-cut answer.

Facebook Ads for Small Businesses

One of the strongest uses for Facebook ads is to get people in a very specific demographic to like your Facebook page so that you can then message to them over time. For example, a small local restaurant you can get Facebook users in your area to like your Facebook page and then offer coupons or promote events. Then you can incentivize your Facebook community to share those promotions so their friends can see it. This is how posts and advertisements can go viral. It’s important to note that viral ads are not the only way that Facebook can help small businesses.

Small businesses can also have success in Facebook advertising promotions. The businesses that often get poor results with Facebook ads are the ones that try and push a hard sale. This doesn’t work in other advertising mediums, so businesses shouldn’t be surprised that it is ineffective on Facebook. Facebook tends to work much better when promoting softer offers such as free giveaways, discounts or building fans that can be converted into leads/sales in the future.

Facebook Ad Benefits

Facebook ads help small businesses to build a fan and customer list. This is similar to email or direct mail marketing, but social media can offer more control and data. With traditional advertising (yellow pages, radio, TV, print, etc.) you get an ad, but you don’t get a customer lead generation list to cultivate. With Facebook ads, business owners can create a growing community of potential customers that you can foster for years. When used effectively, Facebook ads can help increase your word-of-mouth advertising. Being exposed to your friends pages, business and products can make for more effective marketing.

Facebook also offers data analysis and customizable options, similar to that of Google, which can help you increase your online exposure. The ability to target your ads (like on most digital platforms) is a huge benefit for small business owners.

Effectiveness of Facebook Ads

Another benefit of Facebook ads is that there are less competition for keywords than there is on Google or other PPC (pay-per-click) sites. As mentioned above, you are able to reach your target demographic in a casual online atmosphere.  There is more trust established, when a person likes your Facebook page than with a Google search. This trust can be an important factor in the effectiveness of your online marketing.

A big difference between a business Facebook page and a traditional web page is the ability to see and track customer engagement and feedback.  If a Facebook user decides to click on your Facebook ad they land on your Facebook page where they can see interactions and comments that users are saying about your company/brand. As a result, it helps build trust with your client pool.

The Cost

Facebook ad pricing can vary, but is directly related to the area of your target market. The minimum ad bid is low (approximately 0.01 or a penny), but as with Google AdWords, if you’re trying to advertise to a competitive demographic, you’ll be placed in an auction (similar to Google AdWords) with other advertisers and you’ll have to pay significantly more per click. As with most online marketing platforms, companies can control how much they spend by setting daily and campaign budgets.

Many experts say that the price of Facebook ads is among their most appealing features. As with most marketing campaigns, you need to commit to a budget of $500 to $1,000 to get started. Also, it is important to test different ad types, images, and landing pages. After you finish your A/B testing, you can run the more effective ads.

Too Expensive? Here are 10 Affordable Marketing Tactics

Marketing, advertising and promotion are a critical to business success. It is also a crucial link to your customers. Instead of avoiding or cancelling these tactics, you can try and implement some cost saving tactics to increase brand awareness. Here are 10 affordable marketing tactics to consider implementing:

  1.  Social Media (Facebook, Twitter, LinkedIn, Google+, Pinterest, Instagram, Foursquare, etc.)
  2. Content Marketing and Lead Generation (Blogging and Email Marketing/eNewsletters)
  3. Promotional events (Competitions with prizes that media can attend)
  4. Public Relations (Write content about what your business is doing)
  5. Press Release or Article (Submit it with a small ad to local newspapers and media)
  6. Guest Hosting (Contact local radio/TV outlets and offer to do free interviews or consults)
  7. Hijack (Listen to media shows or online conversations and jump in with your comments)
  8. Community Involvement (Volunteer to provide presentations at local community groups)
  9. Be Charitable (Only do this if you believe and want to be involved in a local cause)
  10. Networking (Get out there and mingle!)

 

 

 

 

 

 

 

 

 

 

Too Expensive? Here are 10 Affordable Marketing Tactics