Small Business

Most small business owners do not start or buy a business because they were interested in becoming marketing geniuses. Yet marketing is a critical success factor for any business, small or otherwise. And it's easy to take a wrong turn where marketing is concerned. Recently we spoke to Mark Montini, Chief Results Officer for m2M Strategies, a franchise marketing firm, about the biggest mistakes most new small business owners make. Known for his ability to architect fully-integrated distributed marketing programs, Mark has helped franchises, Fortune 500 companies, startups, non-profits, and even political organizations increase revenue. His work has been featured in newspapers across the country including the New York Times, Washington Post, and USA Today. [caption id="attachment_11811" align="alignright" width="200"]Mark Montini, m2M Strategies Mark Montini, m2M Strategies[/caption] "Small businesses can eliminate a lot of frustration by addressing the common marketing mistakes I see on a frequent basis," says Montini. "Those mistakes are usually centered around focus - on the wrong data, the wrong tactics and even the wrong message." Montini says there are three primary marketing mistakes that can cause failure for any small business right from the start. 1. Focusing on the wrong metrics

TV ads for small businessThe average price of a Super Bowl ad swelled to $4.5 million for a 30-second ad, according to a report by The Wall Street Journal. This reflects a 75 percent increase in Super Bowl ad prices over the last decade. Fortunately for small business owners, you don’t need a few million dollars to produce a quality ad. An article by Direct TV suggests you can produce and air a local commercial for under $1,000 depending on your budget, air time and goals. While there isn’t an exact science to getting started in TV advertising for small businesses, there are ways to streamline the process and stay on budget.

Identify your goals

Before calling TV stations and production studios, sit down and map out your goals. If you’re launching a business, plan an advertising campaign around announcing your services and raising brand awareness. But if you're promoting a product, you should refine your messaging, determine your target audience for the specific campaign and develop a client avatar to help envision who will see the ad and what will appeal to those viewers. Unless you need to reach a global audience, scale down to local advertising to refine your messaging and keep your budget on track. Ask your marketing team to come up with a plan for how often the ad should run to decide if consistent or periodic exposure works best for your needs and length of your promotion.

Advertise on cable for less

Big businesses create their advertisements so that their names can be more recognized, and to create more future sales. And as a small business, you may not afford that. So, design your advertisements to produce more sales. Include an offer in the ad, and also...

There's new fear among business owners based on the recent hubbub at Reddit after the firing of Victoria Taylor and the subsequent "exit" of CEO Ellen Pao. Although most companies don't have 36 million users or even thousands of employees, many are afraid that the kind of discontent voiced so passionately by Reddit users could happen to them as well.  What if this discontent experienced a tipping point and caught fire in a LinkedIn group, for example, or someone's private Facebook page? Could customers or employees become so incensed that the situation goes viral for them as well? ? I'm sensing a kind of panic right now. The kneejerk reaction seems to be a lock down of online policies, and  micromanagement of organic engagement on social media.  The justification for this behavior is that without the internet, this wouldn't happen, right? WRONG. The internet doesn't cause problems, it brings them to light. What happened at Reddit is a communication problem, and as far as I'm concerned it's lucky that the internet brought it to their attention. When I was a manager in the 1990's, it could be impossible to know what was being said over lunch, or on the phone, or at happy hour. Sometimes we didn't know there was a problem until a costly trend in turnover brought it to our attention, and that could take months. I covered a territory with nine profit centers in six states, plus a corporate headquarters 1,000 miles away. I tried as hard as I could to meet with employees and customers as much as possible, trying to ferret out possible issues before they caused real damage to the bottom line.  Occasionally someone would come and talk to me about an issue, but it had to get pretty bad for someone to email me, or worse, pick up the phone. Problems didn't boil over quickly, they percolated behind the scenes causing much more damage. Arka Ray is the CEO of Sidelines, a company that develops engaged native ad experiences.  His recent commentary about Reddit and community management is so relevant when he says

[caption id="attachment_6665" align="alignright" width="226"] Mike Salem, CEO, Vorex[/caption] Integrated marketing means managing a lot of different channels, including the synchronization of those channels. Lately I've met more and more public relations and communications professionals who are training in project management, even going so far as to...

Special Event Badge Lanyard Conference Expo ConventionEvent marketing typically only consumes 20 percent of a company's budget, according to inbound marketing software platform HubSpot. Meanwhile, 67 percent of B2B marketers consider event marketing its most effective strategy, reports an infographic by WebDAM. Event marketing doesn't have to be expensive or even complicated to be highly effective. You can set up an event in hours and get started on improving public awareness for your business. Here are some ideas to get started:

Create a Learning Event

Educate your customers on how to use your products while empowering them to improve their lives or own businesses. Host an event at a community center on how to use your sales software, create original jewelry, master organizational strategies or anything else that relates to your business. Then, ask your students what other types of resources and classes they need to succeed to get targeted ideas for follow-up courses. Remember to ask for students' contact information to start an email list for future events and product promotion. And before you dismiss class, sweeten the deal by offering a discount or free swag to help spread the word about your product.

Start a Meetup Group

Find your ideal target audience by hosting a Meetup group on anything from travel to entrepreneurship to working moms. Events can be held anywhere you want, such as coffee shops or your own office. You can promote your Meetup through social media and to your current contact list. Plus, you also benefit from the exposure on Meetup with a built-in audience who is looking for a wide variety of groups and events.

4332095101_0b429f0a4b_o By Dina Ely I recently had the “pleasure” of having to update approximately 60 business local listings for a client across the Google and Yahoo local business networks, and what I experienced working with both companies on this was an eye-opener. In the end, I think I've figured out why Google will always trump Yahoo, and how out of touch Yahoo is with the needs of small and medium businesses. (Marissa Mayer, take note - there are a few things I think you've forgotten since the Google days.) For this grand adventure I worked in the dashboards of both sites as well as extensively on the phone with support. Let me compare and contrast the overall experience and discuss a few takeaways. Yahoo Both Google and Yahoo play an important role in local search (as do a few other players – but that's another post for another time). Google is used more by customers in local searches, but to ignore Yahoo altogether would be foolhardy. Especially since Yahoo, like Google, offers free business listings. What they also offer, and pretty much give you no choice but to use, is a variety of subscription-based services including Localworks, which starts at $29.99/month per listing. Here's where I hit my first road block. In order to do anything substantial with these 60 some odd listings, I really had no choice but to pay for a Localworks package just to get a fully-featured version of the marketing dashboard. If you try to go the free route, the tools available to you are minimal and it's virtually impossible to do anything on the kind of scale I needed. I claimed and prepared to edit every outdated listing, but everything came to a grinding halt when I hit the log jam of verification postcards. (This will come up with Google too, in just a minute.)

Most people in communications and marketing are already performing simple linked tactics. The idea is to become conscious of these tactics and to try to accelerate performance by adjusting and tweaking the timing of them. For my dermatologist clients, for example, I know if I send an email to patients and follow up about a week later with information on the monitors in the offices, I get a pretty strong result. I also know that although the monitor information is there, I also need signage in the office to appear at about the same time. I’ve examined and tested the timing of email, monitor and posters  to understand how I can achieve the best result with the least effort and money. As I mentioned in the previous post on linked tactics, posting earned placements on social media is something communications people do every day. If you haven’t already, start looking at the timing of your social media posts to determine engagement. Now see if you can add something to boost your results. I’ve begun to get really serious about Pinterest and Reddit when I’ve seen the boost they can give to website traffic. I also know the timing to use - how soon after the initial post, time of day and day - that gives me the best results. [caption id="attachment_6614" align="alignright" width="300"]© Wany0003 | Dreamstime.com © Wany0003 | Dreamstime.com[/caption] Direct marketers have been using landing pages for a long time. QR codes were a great hope, but haven’t really worked much however other promotional codes seem to still work well. I like those that are branded and include a bit of messaging as well. (As a side note, you can include a bit of branding with unique bit.ly shorteners, another micro tactic that works well for me.) Don’t ever underestimate the power of traditional and online tactics combined. They provide some of the best results I’ve gotten for my clients. Another example of this are combining print ads with online channels. Print ads have become more of a “boost” mechanism for me and less of a direct draw. In fact, we’ve reduced the spend on print ads by half for one of my clients, and still increased our results. That’s because the print ads are now supporting many of the content marketing and digital tactics we’re using. The lesson there is that for this client, traditional tactics have become the "boost." Not the primary vehicle for messaging. (Don't forget, we do a recap of a great IMC campaign every month. This is a great place to find examples of linked tactics. The BJP Party campaign, for example, linked a lot of bleeding edge stuff with traditional media. ) Finally, we need to measure our objectives at the end of the campaign of course, but there are many ways to measure how your tactics are responding on an iterative basis.

shutterstock_172529708Although Facebook may be the inspiration for startups around the world, the company nearly bankrupted itself with monthly utility bills, bandwidth, servers and a rapidly growing payroll. In 2008, the social media juggernaut burned through its startup funding by spending nearly $1 million on electricity each month, reports TechCrunch. While it may not cost you a million dollars to keep your own startup going and the lights on, even modest estimates by Babson College puts startup costs around $65,000. To keep your eye on your bottom line and put more profit in your pocket, use these online tools to slash your overhead and save a bundle:

Cloud Storage

Skip paying for expensive storage systems and servers by storing your important documents, files and images in the cloud. Systems like LiveDrive save startup founders time by sharing files quickly and offering unlimited backup plans. And instead of panicking over a water-logged laptop or server outage, you can access your files from any computer at any location. Compare features and price points with a site like Top10CloudStorage to figure out the best option for your business startup needs.

Social Media Scheduling