Archive for the ‘Strategy’ Category

2009 Marketing Budgets

December 15th, 2008 by Rick Terry

Nearly 75% of marketing budgets for 2009 will either increase or remain the same as 2008. Only 25.4% of surveyed companies report a decrease in their marketing line items for the coming year.  Of the 211 companies surveyed, a surprising 31.1% intend to boost their marketing spend.

Topping the list of online tactics they plan to use were broadcast email (68.3%) and website development (66.3%).  50% plan to increase search engine optimization, 46.6% with online video and social media increases.  Social media increased from 26% to 46.6% from 2008 to 2009 plans.

The survey results showed a vast contrast from those increasing to those decreasing.  Over 45% of those increasing their budgets plan to do so over 15%.  Likewise, over 45% of those decreasing their budgets plan to lower them over 15%.

And almost 60% of those lowering their marketing budgets did so in response to the economic crisis.

Customer acquisition is the top marketing goal (62.2%), with customer retention (20.6%), and brand awareness (12.4%).

* Disclaimer:  Main-1-Media has reviewed the source content for this article (BtoB, Chicago, Ill: Dec. 8, 2008, Vol. 93 No. 18) and the findings do not reflect or represent the findings of the source.  For more information on the source please visit them online at www.btobonline.com.

word-of-mouth

November 19th, 2008 by Jarrett Horne

Here are some word-of-mouth marketing strategies you can use for your own website or business. All of them are D-I-Y and you don’t need to hire an expensive marketing firm to initiate them, although you should preferably have access to web designers and programmers, along with a basic budget for viral marketing.

  1. Leverage Existing Social Networks. Online communities have a tightly knit group of users who can help to increase brand awareness for your product. Tap into these communities with tools or content targeting their specific sub-culture and you are likely to get a lot of attention.These can include applications for platform-specific websites like Facebook, Firefox and Wordpress, which each have a large body of users. Content which examines, mentions or analyzes mini-communities or sites within large overall niches will work as well.
  2. Target the Influencers. Look for individuals who are trend-setters or authorities on a specific topic. They should preferably be individuals who have many personal connections or a large and loyal audience.If these people spread your message, your website or product will very easily be disseminated within a targeted group of potential users.Identify these influencers, build a relationship with them and market through their existing sphere of social influence. Examples of influencers include celebrities, power users on social websites like Digg and popular webmasters or bloggers with many loyal supporters (e.g. Ashley Qualls).
  3. Exclusivity and Scarcity. Many websites or businesses launch virally through the private beta approach by offering a limited number of site invites. Some dangle the bait of limited edition products or temporal discounts. Combine this with influencer marketing and you’ll have an excellent method to disseminate brand awareness for new websites, products or services.Exclusivity invites curiosity and scarce products generate consistent demand and conversation. Remember how people were incessantly asking for or writing about Gmail, Joost or Pownce invites a while ago?
  4. Micro-Market. While online viral marketing leverages the interconnectedness of the web to spread unique content or user-supported promotional schemes, micro-marketing focuses on marketing to the individual by providing highly customizable products.Nike and Puma’s Mongolian Buffet are examples of micro-marketing schemes which allow you to design and purchase your own unique sneaker online. Micro-marketing can be combined with scarcity and existing social networks to generate word-of-mouth exposure.
  5. Industry Marketing. Instead of focusing directly on customers, focus on the people who can build your brand. Instead of seeking for thousands of views from a wide audience, make your mark within a niche community (like Sphinn) to build relationships and leverage-able connections.Get recommendations from others in the similar industry to be mentioned, promoted or included in an industry-specific ranking or recommendations list. This builds your overall brand within a specific niche, which in turns promotes your site to traditional media and buyers looking in from the outside.If you were a consumer, would you buy from a reputable brand that is recommended by many others within the same industry or would you go for a little known company with no reputation or recommendations?

Lucrative sales leads

August 13th, 2008 by Jon Mobley

Our very own Media Consultant Randy Sipe is pictured leading a Fishers BNI meeting in today’s business section of the Indy Star. The article explains how BNI networking groups are able to significantly increase sales leads. Read the full article here.

Photo courtesy of IndyStar.com

Don’t open that email message

July 28th, 2008 by Jon Mobley

When you see the little box in the lower corner of your screen appear with the subject of yet another fresh email, what do you do? I expect that the subject line plays a big factor in your decision to either read it immediately or ignore it. Well, there is a simple solution that can make sending and receiving many of your emails more efficient.

“Write a concise email subject and conclude it with (END)”

By adding (END) to your subject line, you’re telling the recipient not to bother opening the email. Everything that needed to be said is communicated in the subject line. Obviously this is not the solution for every email, but it can be very effective in several ways:

1.  Saves time for the sender and receiver

2.  It forces you be concise and focus on only the important details

3.  Everyone reads the subject of an email, so you’re guaranteed to get your message communicated.

You’ll be surprised how easily wordy emails can be boiled down to just the subject line. Try it out and when people see that that your subject emails are saving them time, they’ll start returning the favor. I’m interested to see how this works for you, so write in the comments below about your experience.

Want more tips for improving your email efficiency? Merlin Mann, founder of of the 43 folders website, gives an excellent presentation on email tips and strategies. Watch if for free here.