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.

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7 Benefits of B2B Social Media Marketing

To be competitive in the marketplace today your company needs an online strategy and presence. Social Media, if implemented correctly, can offer customers immediacy and can drive customer engagement, increase quality leads and result in higher ROI. B2B marketers need to realize that even top business leaders socialize with their family and friends online. While demographics still apply to social media, they are far less rigid. Generally speaking, everyone is using social media, using it for business, socializing, shopping, research and much more.

Below are the 7 B2B social media marketing benefits

1. Engagement

Be the B2B business that engages with people. If they get to know you, they may want to do business with you. You can achieve this by creating video demos, company news and customer stories. Building trust can help increase interest and, ultimately, engagement.

2. Interest

Social media provides lots of data that can give B2B companies insight into buyer personalities and motivations. Analytical tools, data and interest can help you target specific communities and create content that drives interest.

3. Traffic and Leads  

Creating and implementing high-quality strategy will allow you to create content that will attract leads. Consistent strategy should also drive traffic that converts leads into actionable sales. With the ability to segment audiences you should be able to extend your reach and your number of leads. 

4. Thought Leadership

This buzz word represents the ability to create B2B content that creates a positive impression on your potential (and existing) clients. Examples can include articles, webinars, documents, tools, etc., which demonstrates your credibility and expertise.  

5. Networking 

While social media interactions may not directly land your next client, it can build your network of valuable contacts. This online network may help expose you to new opportunities, attract a new employee or provide a quality referral.

6. Savings 

Every B2B company likes savings money, especially when it comes to marketing. Using the right tools, businesses can launch, measure and modify your social marketing campaigns immediately. Now compare this to your experience with expensive, traditional marketing. Analyzing data and results will help you gain feedback quickly allowing you to adjust your campaigns to make them more impactful.

7. Relevance 

As more companies embrace an active online presence and implement social media marketing your company needs to stay relevant. Failing to participate can make your company seem less credible and that you’re behind the times. Both companies and consumers research and measure brand profiles through their online visibility and activity. Don’t let your company become a brand that is irrelevant or out of touch.

Start your social media marketing today. For assistance, feel free to engage with me online.

Content Marketing 101

Local small and medium sized Canadian businesses need to have an active online marketing strategy. This means creating content and driving engagement online. Ultimately you have to beat your local competition. Content Marketing is an effective strategy that your company can use to reach your target audience and potential customers. It can also help you built a strong relationship with your prospects and ideally create raving fans and brand ambassadors. As content marketing become more popular, small and medium sized businesses must jump on board and utilize this effective local marketing tool.

Why? It builds trust, credibility and authority.

This is exactly what your target audience has ordered. The content you provide should be trustworthy and valuable, which will help you (hopefully), become a business with local credibility and authority. It will also increase your local search engine optimization (SEO). Increased local SEO can give you valuable return on investment (ROI), which can be achieved (and driven) by creating quality content. 

How? Use 3 common content marketing tactics:

1.     Blogs

Blogs are a great tool for your company to use to target your local prospects and connect with people. Losing that corporate tone and creating personable content can go a long way when building credibility. Many businesses have already realized this and are engaging their consumers through their blogs. Blogs can also promote sales, events, new product and/or services or anything that can help build your brand. 

 2.     Social Media

Social media platforms (and applications) are a very common tool used by businesses to publish content. According to Aimée Morrison, an associate professor at the University of Waterloo, “(Social Media) is becoming a mainstream part of how we get the business of life accomplished and you’re at a disadvantage increasingly if you don’t do it.”

A new report by the Media Technology Monitor suggests that 1/3 anglophone Canadians won’t let a single day go by without checking their social media feeds. Approximately 63% of social media users surveyed said that they read Facebook posts, tweets and/or LinkedIn updates every single day. You can also read the full report here

Social media is reaching a tipping point and plays a huge role in your online marketing and content strategies and is influencing business SEO as well.

3.     Videos

YouTube is a behemoth of a platform that companies need to embrace. Creating a brief online video is becoming easier and cheaper and all companies should jump on board, as videos are a great way to personalize your brand and provide engaging information and content. Even within a 2 minute video, business can provide invaluable information to viewers and help drive consumer engagement and ROI.