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MARKETING – NOT JUST FOR THE BIG GUYS!
Marketing is important
to every business,
no matter what your
size. Marketing is
used to identify the
customer, satisfy the
customer, and keep
the customer. And, all
of us are interested in
those activities, aren’t
we?
So often people get
confused between
marketing and
advertising. Think
of marketing as a
large pie. Some of
the pieces in that
marketing pie are
advertising, public
relations, research,
pricing, distribution,
customer support,
sales strategy and
so on. All of those
activities make up your marketing and should
be defined in your marketing strategy.
It used to be just about the 4 P’s:
Product – what you sell.
Price – how you price it (low-cost, value or
luxury pricing).
Place – where you sell it.
Promotion – how you sell it (advertising,
public relations, promotional programs,
promotional budget).
Today, we have added 3 additional
P’s:
People – the staffing required to turn a
prospect into a customer and to keep the
customer coming back for more.
Process – the entire experience a prospect/
customer has when interacting with your
organization.
Physical evidence - the proof you are what
you say you are. Example: If you claim to
be a fine dining establishment, the physical
evidence could consist of white tablecloths,
suited servers, fine china and a gourmet menu.
continued on page 2
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859.581.2754
MARKETING – NOT JUST FOR THE BIG GUYS! (continued)
All of these P’s need to be taken into
consideration when developing your marketing
plan. Of course, there are other components
of a marketing plan. Such as a SWOT Analysis
(strengths, weaknesses, opportunities and
threats); a Competitor Analysis and how you
rank; your primary and secondary customers’
profiles; customer buying patterns and your
unique selling proposition (what makes you
different).
When developing your marketing strategy, try
to integrate as many channels as possible.
Some examples of marketing channels are:
For a small business, you can develop your
own strategic marketing plan, by following the
process. Many of you are probably thinking, “I
don’t have the time for this” or “I’m too busy
to plan”. Rest assured that the time you spend
developing your marketing plan will be time
well spent.
•Television
No longer do companies, large or small,
have the money to throw against the wall
and hope that something will stick. Be
focused and strategic when spending your
marketing dollars. Most importantly, measure
the spending of those dollars to make sure
you are getting a return on the marketing
investment.
•Podcasting
• Direct mail
•Email
•Website
• Social media
• Mobile marketing
•Radio
•Billboards
•Texting
• RSS Feeds
•Video
• Newspaper/magazine ads or inserts
Can you think of other channels to add? Your
marketing will be more successful when you
use more than one channel. Research has
shown that customers who interact with you
over multiple marketing channels will buy
more, buy more often and be more profitable.
Let’s face it, not everyone will open your
email, read your direct mail or listen to your
commercial. But, if you are using multiple
channels, you are more likely to connect with
them over the channel they prefer.
The same logic holds true for response
channels. Allow your prospects and clients to
respond to you in their channel of preference
– phone, email, mail or website. You want to
make it easy for them to do business with you!
multi-craft.com
859.581.2754