Posted by Biz Central USA Marketing Team on August 29, 2008 under Small Biz and Entrepreneurship | 
Most entrepreneurs are aware that effective marketing is essential to the success of their business, but just aren’t sure where to begin. Here’s a tip- taking time to plan a marketing strategy should precede any marketing attempts. Just as you have to do intensive research for your business plan, you should also do a healthy amount of fact-finding in order to put together a well-oiled marketing strategy. Firms that are successful in marketing invariably start with a marketing plan. For the novice marketer, developing the plan may be the “heavy lifting” of marketing. There are many ways to develop and format a marketing plan, as well as many strategies to bear in mind.
Maket analysis and differentiation are the standard of marketing plans. However, something you may not have considered as part of your marketing strategy is the analysis of your competitor’s marketing tactics. Before you can effectively differentiate your business, you have to understand your competitors’ marketing messages as well as you do your own. Conduct a simple analysis by gathering the marketing materials from all your competitors–everything from their ads and copies of the main pages of their websites to sales brochures. Put yourself in your customer’s shoes after you’ve gathered the marketing materials from your competitors. If you were trying to make a choice between their products or services, which would you go for? Why?
A key to your marketing strategy will be diversity. As part of your markeintg efforts you’ll want to implement a variety of methods, many of which you may not have considered to be marketing tools. Some avenues to relect upon include:
Corporate Branding and Logos
Brochures
Business Cards
Press Releases
Newsletter Campaigns
Website Development
Search Engine Optimization
Web Directory Registration
Only after careful planning will you be ready to introduce your new message. To be effective, your new core message–with a unique point of differentiation–must be communicated throughout your marketing campaign and sales support materials.
A preliminary, short-term test using one form of media, such as a group of magazines or websites, may be the best way to determine if you’re on the right track. After you’re confident your target audience is responding effectively to your new message, expand it into all media.
Remember- “Frequency! Frequency! Frequency!” is the name of the game.
Posted by Biz Central USA Marketing Team on August 27, 2008 under Small Biz and Entrepreneurship |
When consulting nonprofit administrators, I have found that many individuals involved in nonprofit operations, especially those in small grassroots organizations, carry the belief that their organization is not a business. I suppose the term “business” lends a for-profit connotation, and makes many nonprofit leaders feel that it violates their charitable mission. It has been my goal to make these emerging leaders aware that increased organizational capacity can only be generated if they begin to undertake administrative tasks that were once found only within for-profit entities. With the increased competition that is becoming apparent within the sector, one such critical task is adequate marketing of the organization. Market-driven nonprofit organizations are implementing a variety of market strategies in order to fulfill their mission, meet their programmatic goals, and achieve long-term financial stability.
In the nonprofit sector, marketing incorporates focusing on the needs of your constituents and planning to satisfy those needs over time. Program services to clients are the primary reason that nonprofit organizations exist. Therefore, it is critical to know how to plan and market programs. To become highly effective, begin with understanding your program’s target markets. You’ll need to identify what groups of potential clients exist, what their needs are, what groups you’d prefer to serve, and what programs you might develop to meet their needs.
Plan your market strategy. This, again, may involve “for-profity” (my fave new term) techniques. This strategy may involve undertaking the creation of :
• Business Plans
• Market Research
• SWOT Analysis
• Strategic Plans
• Web Marketing (A must in today’s technology-driven world!)
• Corporate Branding
Keep in mind that an essential aspect of marketing is continuously developing a positive self-image for the organization. The relationship between price and perceived value is nowhere more evident than in the nonprofit sector. Thus every organization must find ways to make clients believe your programs or services have the most value.
Careful market planning allows a nonprofit organization to position itself best to compete for all kinds of support, including funds, by looking systematically at mission, image, constituents, competitors, resources, strengths, and weaknesses, and then devise strategies to gain more favorable position in the competitive marketplace. Ultimately, adequate marketing will help your organization to meet its strategic goals, whether they be to increase revenue, expand your client base, or promote your organization in a new market.
Posted by Biz Central USA Marketing Team on August 25, 2008 under Small Biz and Entrepreneurship |
You have an idea, a passion, and a product. You know it will be a success. You do some research and decide to start a business. Now what?
For a business to be successful and profitable, the owners and the managing directors must have a clear understanding of the firm’s customers, strengths, and competition. They must also have the foresight to plan for future expansion. It doesn’t matter if you are using the plan to seek financial resources, to evaluate future growth, define a mission, or provide guidance for running your business, taking time to create an extensive business plan provides you with insight into your business.
Why should a business go through the trouble of constructing a business plan?
There are five major reasons:
1. The process of putting a business plan together forces the person preparing the plan to look at the business in an objective and critical manner.
2. It helps to focus ideas and serves as a feasibility study of the business’s chances for success and growth.
3. The finished report serves as an operational tool to define the company’s present status and future possibilities.
4. It can help you manage the business, provide projected accounting, and prepare you for success.
5. It is a strong communication tool for your business. It defines your purpose, your competition, your management and personnel. The process of constructing a business plan can be a strong reality check
Ultimately, continuous planning is critical if a business is to survive. Keep in mind that ninety percent of new businesses fail in the first two years, and this failure is often attributed to a lack of planning. A comprehensive, well constructed business plan can prevent a business from a downward spiral. To assure success, once the business plan is completed, it should become an operational tool to measure the success of the business. The plan should be updated as milestones are reached. It should be a valuable tool for the growth and development of your business.
When you are struggling you can look back at the reasons for why you should be grateful for your business plan. You will be amazed when you follow it everyday because its results will allow your good idea to be transformed into a viable working enterprise.
