The Marketing Toolbox

What's your social media strategy?

By Stacey Ackerman, MA

 

When social media came out a few years ago, it was thought of as a distraction or something that teens did to constantly update friends on their whereabouts.

 

While social media still has its “social” place in our society, it has become a major component to most companies’ marketing departments. But the good news is that it’s a medium that small business owners can be just as comprehensive and sophisticated with as large companies.

 

To be effective at using social media, you must define what you are trying to accomplish. Social media is an effective tool for personal branding, finding sales leads, promoting an event, engaging existing customers and searching for employees or business partners.

 

Personal branding

If you are a consultant or service business, personal branding can significantly boost your credibility. Join groups on LinkedIn whose members make up your target market. Then utilize the news articles sections of these groups to post articles that you have either written or that demonstrate your knowledge in your industry. It only takes a few minutes to upload your articles. Better yet, post your articles to your web site so prospects have to visit your site and learn about your company to read more. You can also share your expertise by posting PowerPoint presentations on your LinkedIn profile.

 

Sales leads

While social media doesn’t replace in-person networking, it does open up your access to far more people than you could physically meet. Before even jumping into social media for sales leads, take some time to write your “top 10” prospect list. If you know the top 10 companies you are trying to do business with you will eventually find them. Once you know who you are looking for, use LinkedIn to search your contacts. Do you know anyone who works at the company you are seeking? If not, check out your second and third tier connections. When you run across someone who has an affiliation, use the “introduction” feature to get connected with that prospect. Your sales leads will be much stronger when you can pro-actively identify who you are seeking, rather than waiting for someone to find you.

 

Promoting an event

All social media sites are great for promoting an event. Facebook works best for a business-to-consumer event, while LinkedIn is great for business-to-business events. Twitter can work well in both situations, depending on whether your target audience is utilizing that medium.

 

Engaging existing customers

For consumer-oriented businesses, Facebook can be a great place to get your loyal customers to become “fans”. Create a group page for your business and keep it not only active, but interactive. Allow customers to comment about your business and share stories with their “friends”.

 

Searching for employees or business partners

By looking at your network, you can often seek out the type of people you want to hire or that will make great strategic partners to complement your business. Be noteworthy of the type of person you are looking for and carefully read profiles to find a match. If your immediate network doesn’t produce results, ask people in your network if they have someone in mind. I recently found a food photographer for a client through my LinkedIn network. Instead of randomly searching the web, it’s a lot easier to get referrals from people you trust.

 

If you’re not yet comfortable with the many ways your small businesses can benefit from social media, there are plenty of classes available. Since it’s such a new phenomenon, you can quickly become an expert. The best strategy is to understand what you want to get out of social media—then don’t hesitate to dive in!

Stacey Ackerman, MA, is the director of Marketing for Small Business Builders. She has helped numerous small business owners grow their business by creating practical, affordable growth strategies that work. She can be reached at sackerman@smallbusinessbuilders.com or 651-783-5763.

Q&A: Marketing a new service business

I recently had the opportunity to be a panelist for a group of entrepreneurs and executives in the process of starting a service business. Since so many people are considering making the leap from corporate America to consultant or service provider, I’ve decided to share the questions that were asked and my responses.

What are the most effective and low-cost marketing techniques for individuals just starting out (focus on individuals selling a service)?
With the onset of technology, it’s easier than ever for a small business to market as effectively as a larger one. A professional-looking e-mail newsletter is a great way to share knowledge and track the interest level of your prospects. LinkedIn is a wonderful tool for sharing your expertise, gathering testimonials on your service and connecting with potential clients. Building solid strategic partnerships with other companies going after the same market and tag-teaming your offer is a great way to double your reach, plus it’s extremely cost-effective. Also, building your personal brand through speaking and writing is a great way to earn credibility in your field.

Please share with us why you have a passion for selling and/or marketing, and describe a specific experience where sales and marketing won the day.
I enjoy seeing small business owners reach their goals. It’s great to be able to provide new low-cost ideas that may make a big difference to a business owner on a tight budget. One of my clients was able to decrease their marketing budget by 25 percent and still increase their sales by $25k that year. They were pretty stuck on traditional advertising. I introduced them to several other ways to market including a better web presence, pay-per-click, online ads, pay-per-lead services, in-store customer events, e-mail marketing to existing clients, a referral program, etc. By diversifying their marketing with a combination of traditional and new media, they saw tremendous results.

What does sales and marketing mean to you? Is there a difference between the two? Marketing is the umbrella top that upholds the strategy. The spokes are all of the campaigns leading you use to execute your strategy. Selling is the handle that touches the customer personally and closes the deal. You need to have solid marketing direction in place, along with solid marketing campaigns, before you can successfully sell your service.

Are there techniques that large companies/organizations use that are just as applicable to the small business?  What are they, and how can they be learned?
Successful large companies take the time to do market research and really know their customers’ needs. Before executing any marketing effort, find out what your customers are looking for and how your service can address their specific needs. Also, understand that marketing is not a one-time effort, but rather a series of “touches” that get your message across.

How do you “psych yourself up” for this work?
I focus on how I can help a business owner get to a better place. Rather than thinking about the sale, I concentrate on the positive outcome my service has to offer. This strategy makes asking someone to do business with me a lot less intimidating.

What sales and marketing ideas are in the top three today that would NOT have been here if we were having this conversation exactly one year ago?
1) Getting virtual “introductions” to people you want to connect with via LinkedIn versus the old way of asking someone for a referral.
2) Text messaging specials/offers to prospects and clients. This is quickly replacing permission-based e-mail marketing.
3) Changing your businesses’ message to reflect value and meet customers’ immediate needs in response to the recession.

Many of the participants here today are considering marketing themselves as consultants, i.e. human or intellectual capital.  Are there differences in marketing a service (vs. a product), and what are they?
Yes. When marketing a service in which you are the brand, showing your expertise is imperative. Therefore techniques such as article writing, speaking engagements and serving on boards/committees are very important in your personal positioning. With a product it’s less about you and more about how you engage your prospects with what you are selling.

When someone says, “marketing and advertising are the same thing,” how would you counsel that individual?
It’s very similar to the sales question. Marketing is the large umbrella and advertising is one of the pieces holding it together. Advertising is one way to execute your message, but it’s only one of many.

Many of us whose expertise is not in selling are concerned about frequency of contact. Can you shed some light on this important question?
Don’t contact someone just because you need to make contact, but have a concrete plan in mind for how you will make contact and how often. This may depend on how strong you classify the lead and what you are selling. A sales process is important. Tools such as CRM can help with this as well. The point is to communicate the importance of your offering on a regular basis, but make sure your message is compelling.

Some members of today’s audience will be selling their consulting services to c-level executives.  Do these folks require a totally different approach, or are they just human beings who likely respond to the same things a non-titled customer would respond to?
I think it depends on the personality of the executive and whether they have a gatekeeper or not. In general, c-levels are much more difficult to reach. Make sure your benefits are clear, concise and to the point and that you are respectful of their time.

Do you have specific tools that you prefer to manage your sales and marketing/potential clients and contacts?
While it’s not the most sophisticated system, I manage a lot of my clients and prospects in Constant Contact. I group them by type and usually note how I met the person so I can go back if I need to contact them individually later. For a more sophisticated customer relationship management tool, consider Salesforce.com or ACT.

Can you recommend some sales and marketing books, websites for our clients just starting out on their own?
Seth Godin has written many books on branding including Purple Cow and Meatball Sundae and has one of the most popular marketing blogs in the world at www.sethgodin.com. I also recommend Robert Kiyosaki’s Rich Dad, Poor Dad series of books. He claims he is not the best writer, but the “best selling author”. The E-Myth is another popular book for entrepreneurs.

Expand your sales force without hiring a soul

If you're a small business owner, you probably wear many hats. If "salesperson" falls into your repertoire of duties, making the most of your time is essential. Selling to individuals can be an extremely time consuming initiative. By building strong strategic alliances you can build your sales team without hiring a soul. 

When you find a strategic partner, you instantly grow your sales channel. If you have 1,000 prospects in your database and so does your partner, you instantly double your reach.

For instance, a chiropractic office that decides to partner with a massage therapist by renting space is now able to market to the therapist’s clients, which are much more likely to be interested in chiropractic health than the general population. The two partners can combine their marketing lists, double their reach and split costs. It’s a win-win for both parties.

Not everyone you meet at a networking event makes a good strategic alliance. Look for partners that are going after the same target market and have a product or service that complements, rather than competes with yours.

Your partners also must share the same business goals and values as you do. Make sure you understand what they are trying to accomplish and if it aligns with your businesses’ mission. Understand their business ethics, goals and values. Their business should stand for something you feel comfortable associating your company’s name with.

A partnership is all about working together over a period of time, not just a one-time encounter. Make sure there is a clear division of labor and be upfront with expectations. Both partners must equally benefit from the relationship.

One way to team up is by offering a joint service. For example, a restaurant could partner with a movie theater to offer a dinner and theatre package. Then both parties can promote the package through e-mail marketing, in-store signage, co-op advertisements and by having their staff sell the package. The marketing cost is split in half and the reach has doubled.

If you’re a service partner, you may have considered holding a workshop or seminar as a marketing event. While you have a good topic, you could expand your topic and therefore generate interest from additional people by holding the event with a partner. Plus, your likelihood of filling seats is greater since you can market to both of your clients and prospects.

By building your strategic partnerships you will be able to enhance your product or service offering, expand your marketing reach and share in promotional costs without hiring a soul. Start thinking now about a business owner you know that will make a good partner. If no one immediately comes to mind, now is the time to get out and meet people. Your local chamber of commerce or networking group can be a perfect place to connect with the people you need to help you grow your business.

Stacey Ackerman, MA, is the director of Marketing for Small Business Builders. She has helped numerous small business owners grow their business by creating practical, affordable growth strategies that work. She can be reached at sackerman@smallbusinessbuilders.com or 651-783-5763.

Don't take a recess during the recession: continual marketing is key for long-term success

By Stacey Ackerman, MA

If you plan to go out of business during the recession, then stop marketing. But if your goal is to be around for years to come, quit taking a recess and show that you’re out on the playing field for good.

Look to the Future

According to “How Advertising in Recession Periods Affects Sales,” by The American Business Press, when the sales of companies that cut back their advertising expenditure during the 1974-75 recessions were compared with companies that did not, results showed that companies that did not cut their budgets increased their sales by more than 200 percent two years later, while companies that cut their advertising budget had barely increased 50 percent.

 

Minimal Clutter

Right now is a perfect time to get your brand’s message out there because the clutter has been minimized. Since so many companies have scaled back, your message is more likely to be heard because your competition may have taken a recess. Plus, the power of negotiation when it comes to advertising has never been more in your favor.

 

Expect Longer Sales Cycles

No matter what industry you are in, the sales cycle is taking longer. While a typical sales cycle for a consulting company may have been one to six months, six months to a year may be more accurate right now, which makes tracking your marketing efforts increasingly difficult.

 

Don’t Be a Quitter

While the immediate gratification from running a marketing campaign may not be there, this is no excuse to quit. The recession won’t last forever, and when it’s over and people start willfully empting their wallets, you need to be the first one on their minds. If you wait to build your brand until the buying power is there, you’re going to be too far behind of the competition to catch up.

 

Make Smart Choices

Building a brand during a recession doesn’t mean that you need to invest in a major advertising campaign. There are many low or no-cost ways to building your brand such as article writing, blogging, speaking at a conference or event, networking through your local chamber, starting a company page on Facebook or LinkedIn and asking for referrals from past clients.

 

Just remember the old saying, “Out of sight, out of mind.” Then think twice before your marketing takes a recess.

Stacey Ackerman, MA, is the director of Marketing for Small Business Builders. She has helped numerous small business owners grow their business by creating practical, affordable growth strategies that work. She can be reached at sackerman@smallbusinessbuilders.comor 651-783-5763.

 

How to stay afloat during sinking times

We’re entering a year of uncertainty that’s affecting every business in every industry. There are so many factors out of our control. You can’t control Dow Jones or NASDAQ. Who knows what will happen with gas prices or food costs this year? But there is one thing you can control; how you communicate to your clients during these turbulent times.

 

Grow from the Inside Out
When thinking about marketing, most business owners think about how to grow from the outside in. This year, I challenge you to reverse that thought process. By flipping things around, you can grow more efficiently and effectively by concentrating your efforts on your core business – your existing clientele.

 

Change Your Offerings
The best strategy for marketing to clients during these times is to be honest about what’s going on, not hiding from it. Then, adjust your offerings to meet their needs – not yours. For instance, one of my clients teaches children’s music classes. She contacted parents with a candid letter about the economy and how her company is going to address it – by offering shorter, more affordable programming.

 

Look at Buying Habits

Think about new ways to communicate your offerings to your customers. Take your client list and break it down into subsets based on buying habits. For instance, if a client purchased doors from you five years ago and you also sell windows, start marketing that product to them. Clients want to know that you are addressing their specific needs.

 

Upsell Your Services

Instead of focusing on more customers, improve the sales from the ones you have. Add a family meal deal or a new spa package. Just remember, the offer must appeal to the clients’ needs – not yours.

 

Stay in Touch
Remember the old saying, “Out of sight, out of mind.” Make sure to stay on the forefront with current and past customers. While your message may seem repetitious, repeating it is the best way to get it across to your customers. Start a blog or an e-mail newsletter this year. These are effective and inexpensive ways to keep your name in front of your customers.

Will your business thrive or dive in 2009?

By Stacey Ackerman, MA  

 We're all entering 2009 with a level of uncertainty that's weighing down on us like a giant elephant. But it's during these trying times that savvy business owners can thrive as their competition takes a dive. It's a game of survival of the fittest, and those fit companies can expect great things in the coming year. Here are a few of the winning characteristics of the thrivers and some things you can consider for your business:

Carve a Niche
Don't be a commodity. Carve out your special niche in the marketplace. Understand your unique selling proposition and the value you offer to your customers.

Understand Your Customers
Know what your customers' problems are and how your product or service resolves them. Conduct e-mail surveys and talk to your key customers on a regular basis. You may also solicit feedback from your customers through social media tools.

Market in Good Times and Bad
The worst thing you can do is pull marketing efforts because of bad times. Because marketing is a series of touches that occur over time to solicit a buyer response, this is the most important time to stay in front of prospects. When they decide to buy, you'll be the company they think of first.

Be a Visionary
Don't lost sight of the ultimate goals for your business. Only by staying tuned into this vision can you get there.

Have a Plan and Stick to It

A well thought out marketing plan will keep you in check with your goals, budget and action items needed to achieve your vision.

By keeping these things in mind you will prepare your company to thrive - not dive in 2009.

 

Stacey Ackerman is the director of Marketing for Small Business Builders, a firm that provides small business owners with the tools, education and inspiration to successfully build their business and achieve long-term results. Stacey can be reached at sackerman@smalbusinessbuilders.com or 651.783.5763.