Marketing on a Budget

 

Clutching at straws to make a marketing budget?

Following the crowd may work for some things, but not for marketing.  People flock to the “latest and greatest” and the price goes up as the market demand goes up.  Unfortunately, the results do not necessarily follow the upward trend of the prices. Be creative and ahead of the pack.

 

If everyone is doing it, it must be a good idea.

 

Warren Buffett, an American business magnate, investor and philanthropist, is widely considered to be the most successful investor of the 20th century.  He is reported to have said that if everyone is doing something, do the opposite.  If it was a good idea, it is not a good idea any longer.

 

Even though Warren was speaking of investing, this works for marketing as well.  When pay-per-click first came out, it was “the new shiny idea.”  Prices were cheap and results were good.  Soon it became very expensive to obtain any positive results. When email first became popular, it was unique and effective.  If your inbox is like mine, it is now clogged with a few hundred emails a day.  Unfortunately, far too many of those are junk.

 

The world is going mobile.  Text is more current than email.  Mobile GPS works better than pay-per-click.  Stay with the curve or ahead of it.

 

What is the best idea for 2013 marketing? 

 

Business logic has remained constant for decades.  The methods, trends and implementation have changed but business principles are just that, solid principles.

 

Business magnates have subscribed to a philosophy of using the proven as their main focus while testing a new idea as their secret to success since the beginning of time.

 

Proven Successful Marketing Principles

 

Define your target audience.  Exactly who is your product designed to benefit?  Who will pay to receive the solution your product offers?

 

An anti-wrinkle face cream would probably be targeted to women age 30 – 60 living in middle to upper class neighborhoods in a metropolitan area.  Narrowing down your target market may seem limiting but it actually helps you focus your advertising on exactly the message that audience would want to hear.

 

What message would they want to hear?  They want proven results.  They want testimonials of people they know and trust who have used the cream and received positive results.  They want to know how long it will take to receive their desired result.

 

Determine when your customers want your product.  Starbucks coffee ads would be highly effective in the morning.  Selling a comfortable mattress would be well timed in the evening or early morning; having people view the ad when they are ready for a good night’s sleep or did not have a restful night.

 

In a ski resort, marketing ads would be most effective in late summer when the property management companies are placing all of their marketing for the upcoming ski season.

 

Catch the potential customer at the time they are ready to purchase or immediately before they are making a buying decision.

 

Make it easy to find you

 

Google is a wonderful tool for research, but unless your business pops up quickly on a smartphone, you may be lost in cyberspace.  Our world is mobile.  Include your address, a map to locate you and your main focus as a keyword. If they are hungry for a pizza, be certain that your name and location pops up on their phone.

 

If you don’t pop up when they are ready, it is as if you do not exist.

 

It does not cost you any more to include a few key details like your address and phone.  Make wise use of your marketing dollars.

 

Know your target market.  Know the message they want to hear and make it easy for them to find you.

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