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Marketing on a Budget

Marketing on a Budget. Wisconsin Women’s Business Initiative Corporation. Statewide economic development organization Over 25 years 501 C3; founded in 1987 Offices in Milwaukee , Madison , Racine and Kenosha Local, Regional, National and International Partnerships

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Marketing on a Budget

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  1. Marketing on a Budget

  2. Wisconsin Women’s Business Initiative Corporation • Statewide economic development organization • Over 25 years • 501 C3; founded in 1987 • Offices in Milwaukee, Madison, Racine and Kenosha • Local, Regional, National and International Partnerships • Emphasis: women, low-income individuals and minorities

  3. WWBIC’S Primary Services • Business Education & Workshops • Creative Financing Solutions • One-on-One Assistance • Networking Opportunities • Business Laboratory, CWC • Make Your Money Talk • Financial Capability & Individual Development Accounts (IDA’s) Bella Blvd WWBIC Loan Client

  4. Marketing • Describes business’ products or services • Describes target customers • Identifies how you will bring them together • Identifies industry and market AND size and trends • Evaluates competition • Sets market strategies and goals

  5. The QuestionsWho is your ideal customer?What do you make or do?Where is your ideal customer?Why are you in business?How? Set strategy and goals

  6. Target Customer • Who buys the most? • Individuals or other businesses? • What do you know about them? • Why will they buy from you? • What are their expectations (cost, selection, hours, etc.)? • Who are they buying from now?

  7. Marketing Strategies How do you reach those people who are buying the most?

  8. Promotion Components • Advertising • Personal selling • Public relations • Special events • Word of mouth/referrals • Educational activities

  9. Promotional Considerations • Cost-effectiveness • Ability to reach target customers • Image consistency

  10. Free Promotional Tools • Public relations • Press releases • Stories of interest • Cross promote with other businesses • Free calendar listings • Don’t be afraid to talk about it • Be an expert in your field • Speaking engagements, TV, podcasts, blogs, etc.

  11. Use Social Media! • Facebook • Number 1 social media site in the world • Business pages-users can like, rate, leave reviews and share • 42% of marketers report that Facebook is important to their business • Twitter • 70% small businesses are on Twitter • 42% of consumers learn about products and services via Twitter • Instagram • 75 million users log on daily • Users post 1,000 comments every second and like posts 1.2 billion times a day

  12. Promotional Tools (under $10) • Every month, give customers a chance to win free stuff! • Donate to charity for a certain number of purcahses • Hold a contest • Hire a student or family member to hold a sign outside • Show up in person to deliver goods to a client • Use flyers

  13. Promotional Tools (under $20) • Attend free networking events to expose yourself to community • Use Vista Print or other online printers to print inexpensive business cards, thank yous, magnets, etc. • Use Constant Contact or other email marketing program. $15/month gives you up to 500 email promotions! • Use flyers

  14. Business Development • Know your uniqueness • Price isn’t everything • Look for long term, renewable relationships • Understand how your customer makes decisions • Don’t be a ‘peddler,’ be professional • Know when to move on • Track activities • Work on retaining current customers • Give back to community

  15. How to Contact WWBIC Milwaukee: (414) 263-5450 Madison: (608) 257-5450 Kenosha: (262) 925-2850 Racine: (262) 898-5000 www.wwbic.com

  16. Thank You!

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