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High Speed Growth : Marketing Strategies

High Speed Growth : Marketing Strategies. The SCORE Foundation would like to thank for showing their support of America’s small businesses by sponsoring this series.

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High Speed Growth : Marketing Strategies

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  1. High Speed Growth:Marketing Strategies

  2. The SCORE Foundation would like to thank for showing their support of America’s small businesses by sponsoring this series. The content provided in the Simple Steps for Growing Your Business materials is intended as a business resource only and does not guarantee a successful outcome when applied to individual business use. To find additional resources on growing your business, visit www.score.org and www.openforum.com

  3. Identify Your Marketing Goals

  4. HaveYour Business Needs Changed? Andrew Dunn • Target customers • Existing customers • New customers • Product or service mix • Price point • Budget • Sales channel

  5. Market Research Understand your target market: • Size • Income level (consumer) • Sales (business) • Purchasing habits • Demographics • Purchasing channels • Geographic location John Christakos, Maurice Blanks & Charlie Lazor

  6. Market Data Sources

  7. Is Your Brand Clear? • Branding is not the same as marketing • Branding is the image, logo and positioning of the product or service Martina Arfwidson & Gun Nowak

  8. 3 Steps to Brand Creation 1. Identify unique selling proposition 2. Understand target market 3. Communicate brand consistently Mark Pascale

  9. Competitive Analysis • Analyze the marketing methods used by your competition • Would similar methods work for you? John Blancher

  10. Social Media Marketing

  11. Social Media and Your Business Social media can help you: • Increase sales • Drive traffic to your site or store • Learn about competitors • Find potential partners Before using social media, know: • What social media tools your customers use • What you hope to achieve Steve Sulkin

  12. Marketing With Facebook Users: • Biggest social network – over 500 million • Wide age range of users • Majority women Good for: • Consumer businesses • Products that inspire “fans” • Building community • Targeted ads

  13. Marketing With LinkedIn Users: • Professionals • Focused more on individuals, less on companies Good for: • Business-to-business (B2B) contacts • User groups for market intelligence • Getting known as an expert • Prospecting for customers

  14. Marketing With Twitter Users: • 8 percent of U.S. Internet users* • Young, affluent, urban • Influencers Good for: • B2B and B2C • Timely news/deals • Mobile users • Brand building • Promotions *Source: Pew Internet and American Life Project

  15. Social Media Tips • Get personal • Engage with others • Be helpful • Update regularly • Keep learning • Use analytics • Understand time commitment Kris Wittenberg

  16. Marketing With a Website

  17. Benefits of a Business Website • Creates awareness • Helps customers find you • Builds credibility • Drives sales • Enhances customer service • Provides additional sales channel (e-commerce) • Gives you national/global reach Peter Argondizzo

  18. Developing an Effective Website • Determine goals • Overall business strategy • Overall marketing strategy • Development requirements to include: -Ease of use -Sales -Customer service -Branding -Search Marta E. Maxwell

  19. Elements of Your Website • Domain name or URL (www. yourbusiness.com) • Web hosting service • Website design Many providers offer package options that include all three: • GoDaddy.com • IMSMB.com • NetworkSolutions.com • Web.com

  20. Principles of Website Design

  21. Search Engine Optimization SEO = driving traffic to your site via organic search results • Create quality content • Use targeted keywords • Measure results

  22. Web Analytics Web analytics can measure: • Number of visitors • Number of page impressions • Average visit length • Most popular site entry pages • Where users come from (sites or search engine phrases) • Number of inquiries, leads or sales generated • Conversion rates • Total sales volume online • Average purchase per online customer Use analytics to determine if your site is achieving your goals

  23. Online Marketing

  24. Ratings & Review Sites Feature customer reviews and ratings of businesses • Bing Local • CitySearch • Google Places • Insider Pages • Local.com • Merchant Circle • RatePoint.com • Yahoo! Local • Yelp! Don’t forget niche sites for your industry, region or city

  25. Maximize Ratings & Reviews • Claim your listing and optimize it with: - Photos - Description of business - Maps/directions - Special offers • Monitor accounts • Respond to negative reviews • Convert users to buyers • Learning tool John Christakos, Maurice Blanks & Charlie Lazor

  26. Group Deal Sites • Groupon • LivingSocial • SocialBuy • Local sites in your community

  27. E-Mail Marketing • Collect e-mail addresses • Post a privacy policy • E-mail options: - Newsletter: Monthly, weekly, daily - Sales or specials: Weekly or as needed - Announcements - Event invitations Jennifer Behar

  28. E-Mail Resources Visit the FTC website (www.ftc.gov/spam) for information on the CAN-SPAM Act Email Services: • Benchmark E-Mail • Campaigner • Constant Contact • iContact • Microsoft Office Live Small Business E-Mail Marketing service (smallbusiness.officelive.com)

  29. Online Advertising Options • Link exchanges • E-mail newsletter advertising • Pay-per-click (PPC) • Banner ads

  30. Traditional Marketing

  31. Marketing Materials Do your marketing materials need a makeover? Do they still reflect your brand?• Logo• Signage• Business cards• Brochures• Website

  32. Marketing Materials Low-Cost Resources:• 99Designs.com• CrowdSPRING.com• Elance.com• Freelancer.com• Guru.com• Inkzoo.com• Logoworks.com• Marketsplash.com• VistaPrint.com

  33. AdvertisingOptions • Print (newspapers, magazines, community publications) • Radio • Cable TV • Direct mail (postcards, letters)

  34. PublicRelations • Create press release following standard format • Target to specific media outlets • Distribute your release • Follow up

  35. PR Resources Writing press releases: • PR Newswire’s PR Toolkit (http://toolkit.prnewswire.com) Distributing press releases: • FreePressRelease.com • PR.com • PRLog.org David Lomakin

  36. Event Marketing • Good promotional tool for businesses with local customers • Sponsor an event or host your own Tips: • Set goals • Make it relevant • Promote • Gather customer info • Follow up Karen Bevels

  37. Customer Loyalty Programs Keep customers coming back with loyalty programs that can include: • Loyalty cards • Geolocationwebsites • Discounts and special offers • Events • Giveaways

  38. Is It Right for You? In evaluating marketing options, ask: • Will this help achieve my goals? • Will this reach my target customer/s? • Does this fit my budget? (Typically 3% -10% after 1 – 3 years) • Do I have adequate staff to implement?

  39. For More Information SCORE www.score.org SCORE (Local Chapter) www.scorechapter.org American Express Open Forum www.openforum.com

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