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Smart Branding for the Smaller Enterprise |
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Written by Administrator
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Wednesday, 06 May 2009 17:45 |
The secret of Smart Branding for the Smaller Enterprise is to "think small!"
It seems that when someone starts talking about branding, its another story about how a big brand company is making its mark. Small business owners get frustrated when we try to think of ways to emulate the big brands, knowing that building a brand like they have is a daunting task requiring immense resources.
What's a smart, affordable branding strategy for the smaller enterprise?
Think Small Before Thinking Big. For the larger company, branding is the process by which that business, or its products (or both), become a household word. For the smaller company, it is a matter of building a brand one client at a time.
- Become First-in-Mind for one client or customer, then two, then more. By getting one powerful client (who thinks you're the world's best) in your stable, you can build on that strong foundation.
- Get one or more testimonials. Document your clients' satisfaction. Get photos and personal statements about how important you are to them.
- Create a small brochure that tells how you fulfilled these clients' needs.
- Add their story to your website.
- Study the characteristics of your satisfied clients and identify other prospects just like them. Those should become your core target market.
- Present your story to that market with phone calls, mailers, face-to-face meetings.
Build Your Brand by Building Your Relationships. Great relationships are the foundation for doing business at the smaller enterprise level. With that in mind, make every part of your clients' buying experiences outstanding and memorable. Think about improving every contact point in your client's interaction with you and your business. How can you make every part of their experience better at each "touch point?" When every person in the client organization knows who you are, you have created a strong brand.
Tell Your Story To The Local Business Press or Online News. So many stories are written from the point of view of the seller. Instead, take your client's point of view, and tell about how their needs are being met. Relate how they have grown, prospered and benefited by using you as a key source of supply. Use testimonials, actual stories and any other related points of interest. Good stories get into print.
One happy client telling their story about the outstanding way you have filled their needs will lead to many clients bragging about you. Start small, and let outstanding results do the talking. You will build an incredible brand one client at a time.
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Last Updated ( Wednesday, 13 May 2009 17:28 )
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Marketing Planning Guide for 2009 |
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Written by Administrator
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Monday, 20 April 2009 00:25 |
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Study and complete this easy Marketing Planning Guide and you will get focused on your plans, goals and strategies for 2009. While not all of this will apply to your business, use what fits. We wish you the best in 2009!
First, some analysis of your last year's business:
Sales and Profit
1. 2008 Sales
2. 2008 Net Profit
3. Percentage Change from Prior Year
Marketing Expenses
1. Sales Force
2. Advertising and Sales Promotion
3. Trade Shows and Events
4. Website
5. Publicity Development
Customer Profile
1. Number of Customers
2. Average Annual Purchases
3. 80/20 Rule
a. How many customers did it take to comprise 80% of your business?
b. What was the Average Annual Purchase volume from top customers?
c. Do you have a database of key customers and contacts?
Top Customer Profile (80%)
1. What products/services do they buy?
2. How much ($) do they buy of each product/service?
3. What were the primary reasons these customers buy from you?
4. How much did they spend with your competition?
5. What % of your Marketing Expenses are spent on top customers?
Bottom Customer Profile (20%)
1. What products/services do they buy?
2. How much ($) do they buy of each product/service?
3. What were the primary reasons these customers buy from you?
4. How much did they spend with your competition?
5. What % of your Marketing Expenses are spent on bottom customers?
Non Customer (New Prospect) Profile
1. What prospects are there who are not buying, but have high potential?
2. How much ($) did they buy of each product/service from competitors?
3. What are the primary reasons these customers don't buy from you?
Next, some projections for the coming year:
Sales and Profit
1. 2009 Sales
2. 2009 Net Profit
3. Percentage Change from Prior Year
Marketing Expenses
1. Sales Force
2. Advertising and Sales Promotion
3. Trade Shows and Events
4. Website
5. Publicity Development
Customer Profile
1. Number of Customers
2. Average Annual Purchases
3. 80/20 Rule
a. How many customers will it take to comprise 80% of your business?
b. What will the Average Annual Purchase volume from top customers?
Top Customer Profile (80%)
1. What products/services will they buy?
2. How much ($) will they buy of each product/service?
3. What are the primary reasons these customers will buy from you?
4. How much will they spend with your competition?
5. What % of your Marketing Expenses will be spent on top customers?
6. Which customers will fall out of the "top customer " classification?
Bottom Customer Profile (20%)
1. What products/services will they buy?
2. How much ($) will they buy of each product/service?
3. What are the primary reasons these customers will buy from you?
4. How much will they spend with your competition?
5. What % of your Marketing Expenses will be spent on bottom customers?
6. Which "bottom customers" will become "top customers?"
Non Customer (New Prospect) Profile
1. What prospects are there who are not buying, but have high potential?
2. How much ($) will they buy of each product/service from competitors?
3. What are the primary reasons these customers don't buy from you?
4. What % of your Marketing Expenses will be spent on reaching non
customers with potential?
5. How much will they spend with you first year?
Next, an analysis of your competitors:
Top Competitors
1. By product/service classification, who are your major competitors?
2. By competitor, how much business do they do in each of
your product/service classifications?
3. Why do people buy from them, by product/service classification?
4. By competitor, which will grow and which will decline in coming year?
5. By product/service classification, what are your strengths/weaknesses as
compared to each competitor?
6. What are your primary differentiators from your competitors, in each
product/service classification?
7. How much ($) does each competitor spend on marketing-related activities:
a. Sales Force
b. Advertising and Sales Promotion
c. Trade Shows and Events
d. Website
Finally, some ideas, strategies and tactics you can implement quickly:
Top Customers/Prospects
1. Divide top customers by classification of products/services
they purchased last year.
2. Compare purchases last year with purchases year before.
3. Study the reasons for increases/decreases in purchases.
4. Determine how much of your Marketing money you spent on each
customer/prospect.
5. Identify what worked and what didn't work relative to increases/decreases.
6. Define key buying motives for each classification of products/services.
7. Refine your knowledge of key customers' buying motives.
8. Develop a target list of top customers with highest potential for increase.
9. Develop a target list of bottom customers with highest potential for growth.
10. Determine strategies to spend more resources on highest potential
customers and prospects.
11. Study the differences (differentiators) between you and your competitors.
12. Develop a SWOT (Strengths, Weaknesses, Opportunities and Threats)
analysis and compare it with each competitor.
Your Marketing Plans, Programs and Strategies
1. Look at each expense category and analyze what worked/didn't work.
2. Add dollars to the task of building your database of clients and prospects.
3. Add dollars to the task of getting to know your clients and prospects better.
4. Spend more time looking for ways to get publicity (it's free!)
5. Spend an appropriate amount of money on your website, SEO, SEM and
Email Marketing.
6. Hold team meetings to brainstorm ways to get better known in the market.
7. Assign individual responsibility to spend time with top clients/prospects.
8. Brainstorm publicity angles; donate time to charitable groups, become
involved with community affairs.
9. No matter how flat the economy, keep promoting your business.
10. Find ways to give better customer care at all contact points within your company. |
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Last Updated ( Wednesday, 13 May 2009 17:57 )
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Thanks for visiting BV. We're all about Growing YOUR Business. You'll find lots of stories on start up, growth and management, so stick around , browse, and enjoy! - JB
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