I got a few great questions in the other day from some younger entrepreneurs and decided to incorporate a regular Q&A feature on the site. Instead of picking a specific single CEO to answer, I thought it would be more fun leaving it open to discussion…
The first question I’m going to put out there is from 19 year-old Logan Lindabury, Founder and CEO of Laughtub.com. Logan wants to know:
“Are there any successful advertising methods that a small business can afford?”
OK Single CEOs, give us your best answers!
comments may appear immediately – due to spam they are manually approved
June 28th, 2009 at 1:46 pm
Oh definitely. In fact, in this media driven age, more than ever there are ways to get your message out there via viral marketing i.e. myspace, twitter, facebook, etc…if you have something unique and different, start getting the word out and it will keep building upon itself. You’ll get a good buz going among people in these social networks.
Also, these days, anyone can work in their garage and have a website that makes them look like Nike. That’s the beauty of the internet. So put some real thought into the design and marketing of your website. It’s a very cost effective way to compete with the big guys.
And finally, PR. Find what is unique about your business and promote it. Hook into a charity, give something away, sponsor something, give your products to people in the media, send out press releases, etc., etc….so many ways to make use of free PR. Remember, the media is looking for interesting things to write about. So help them fill that need!
June 28th, 2009 at 2:08 pm
The first question you want to answer is: Where does my target audience hang out? And then build your advertising and promotion strategies around that. The more you can deliver targeted messages directly to those people, the more effective your marketing will be.
Here’s a good (simple) example: If your target audience is between the ages of 25 and 35, they probably will never use a phonebook (you know that big bulky thing we used to call The Yellow Pages?). So your strategies should be focused online — look for the best online directories like Google’s Local: http://www.google.com/local. There are MANY others, and they usually don’t charge you for a listing. So you’ll be investing time instead.
The trick to this, is to develop as detailed a profile of your target customer as you can. Include demographics of course, but also psychographics — what do they worry about? What motivates them? etc. You will then be much better able to “speak” to them where they are and have them “hear” you.
June 28th, 2009 at 3:29 pm
Publicity from a credible source can give you instant credibility. Editorial coverage in a respected newspaper, blog, Web site, podcast or radio interview or feature on YouTube is more highly regarded than advertising. Maintaining high profile attention within a specialty increases, credibility. Become an expert. Publicity can bring you in contact with peers throughout the business community. Publicity activities open doors to mentors and gatekeepers. Publicity coverage is free. But how do you get it?
Get creative and know your audience. There are a number of ways everyday people have become famous via free publicity. Below is a list of inventive ways to get publicity. Think of what venue you can use to publicize these newsworthy feats. Will you launch a press release on your Web site about a contest? Will you distribute an article on your area of expertise to article directories? Will you gather local media email addresses off Web sites and email them a press release on your latest service featuring the difference it makes on a timely issue in the news? Whatever you do, make it innovative, different and timely.
15 Ways to Make Yourself Newsworthy
1. Take a poll or conduct a survey.
2. Issue a proclamation or hold a celebration.
3. Announce novel observations and discoveries.
4. Report unusual or human interest stories.
5. Hold a contest.
6. Sponsor an award.
7. Host or sponsor a special event.
8. Give a valuable but unusual donation.
9. Introduce a novel twist.
10. Create a commemorative month or day.
11. Involve a celebrity.
12. Take on a cause.
13. Establish a seal of approval.
14. Compile a list of hot tips or fascination facts.
15. Form an organization.
Start now!
For the FREE Worksheets: “Begin With the End in Mind and Sketch that Vision on Paper†and “The Niche Test!†go to Mary Lee’s web site at: http://www.startingovernow.com/WorksheetsandArticles.html
June 28th, 2009 at 3:47 pm
Depends on the type of business. Your local chamber of commerce offers advertising opportunities as do local networking groups. word of mouth advertising is always good and generally free. Ask for referals. Radio, local cable and local newspapers are affordable. The internet is general free. If you use it properly you can generate business. Learn about social networking and how to use it to generate business.
June 29th, 2009 at 12:28 pm
Since your service is free and b-to-c, not b-to-b, I’d make a fan page on FB, a group page on FB, and promote it there. It can get viral pretty quickly there.
Twitter too.
Actively promote it everywhere. Answer every email. Comment on every relevant blog. Post the link to your website on every ning and grou.ps social network that will have you.
There is an old and wise saying in television and film that summarizes what kind of project you’ll end up with: “Cheap, good, and fast: pick two.” The same is true for business. You can never have all three. If you’re looking to do free, it’ll take longer, but if you don’t have money, you certainly have time.
June 29th, 2009 at 12:55 pm
It depends on whether you are talking about marketing online or offline. And if you are wanting free or just inexpensive. Here are some tips to use if you want FREE. Networking whether in person or online on a social networking site are ways to meet people who can offer you huge support and help you market your product/service. Most of my business right now is done marketing on the internet. I use a lot of guerilla marketing techniques to market, such as videos (youtube), blogging and having my own blog, social networking, affiliate marketing, and list building.
A few other ideas to get your name out is doing PR. Some are free or low-cost, such as writing your own press releases and submitting them to the various sources online. Some charge a fee, but some are free. You can also write articles and submit them to the various article sites. Another thing you can do to make extra cashflow is do teleseminars. Whatever your expertise is in, someone wants to know about it and how to do it. So you do a teleseminar, once you’ve built a list, and advertise it on the networking sites and send it out to your list and charge $5 to be on the call and you’ve just made some extra money plus advertised for your product/service that you are currently selling. Lastly, you can start your own membership or networking site. You charge a fee to be a part of the site and it is exclusive to members only. You offer a tremendous amount of information that they could not obtain without the membership and make it worth them paying for. There are many things you can do to bring in cashflow and to market your product/service.
There is a company that is free to subscribe to where you can find various avenues that can help you market yourself and your product/service. It is called HARO (helpareporterout.com). Subscribe to it and you will recieve 3 emails per day. You may not find someone in your area of expertise every day, but many times you will. It is a great source and it really gets your name out there.
June 29th, 2009 at 2:39 pm
The best way to promote one’s business is to focus on providing value to others and building quality relationships (this is far more important than any “look at me” and “buy my stuff” messages regardless of the marketing and communication channels used) and consistently uphold high standards of excellence in all that you are and do. These are a sure path to business success.
To accelerate your success, concentrate on finding ways to provide just a little bit more than what is expected of you.
Linda M. Lopeke
The SMARTSTART Coach
June 29th, 2009 at 5:21 pm
Logan,
My thoughts are that any small startup should not be spending money on paid advertising. Use all the free tools out there, Facebook, Twitter, YouTube etc. to help spread the word and grow your company. Hopefully this helps.
July 10th, 2009 at 8:29 pm
While social media is a great, virtually free way to get your business and face in front of target audiences, don’t overlook the strategic use of traditional public relations. Whether you hire a small agency or handle it yourself, PR — in the form of a press release to newspapers, a speaking engagement or seminar in front of a local business group, hosting or sponsoring a community or charitable event — is an economical way to get your name out in a positive light. And newspaper articles or TV stories carry that all-important “third party endorsement” that adds credibility to you and/or your organization.
See what’s occupying the minds of the news media, and look at how your business can add to the conversation. Every week, it seems, there’s a new “hot topic,” and identifying that topic is the first step in capitalizing on it. Can your business contribute useful information or insight? If the issue is on the national agenda, maybe you have some local perspective to offer your hometown paper. You can reach out in the form of a friendly e-mail to an editor, producer or reporter who covers that beat, or perhaps offer an opinion story or letter to the editor. Who knows? The local TV station might invite you on for an interview. I know a guy who started a computer service company, and just by keeping the local media in the loop of his activities is now the local Fox TV station’s go-to computer expert. Every time a virus strikes, or there’s an issue involving computers or Internet safety, he’s on camera.
So you need to keep in touch with the media, and create what I call an “aura of expertise” around you. Make yourself a valuable source. The cost is minimal, and the payoff can be more valuable than a full-page ad in the local daily newspaper.
July 18th, 2009 at 2:18 am
While understandable, the question is misguided. Advertising is a great vehicle for an existing brand, but I would not advise it as a first, second, or third step for a start-up. PR has such an *enormous* advantage over advertising, because it is third-party endorsement of you or your company. So … start building your expert credibility by writing articles or creating relationships with reporters in your community.
Relationships are the biggest keys to success – creating authentic, lasting ones will be more valuable to you than gold.
Here are my Top 5 Low- to No-Cost Marketing Ideas for anyone looking to build credibility and establish a client base:
1. Social networking. The choices are endless. Sign up for all of them, as it increases you SEO, but choose the one or two you will really work, and use them well. An 80/20 rule is good to follow – 80 percent relationship-building, 20 percent promoting your company or your brand.
2. Blogging. Any time you find yourself thinking to yourself, “I thought everyone knew that” about any aspect of your business or industry, jump on the opportunity to use it as a teaching moment. Read other blogs in your area – and news sources – and comment on EVERYTHING. Be the expert, and people will begin to recognize you as such.
3. Article marketing. Do this one both on- and offline. Research is invaluable here – as opposed to just your own opinion or knowledge, which you can more readily get away with on a blog. Cite someone else’s opinion or knowledge – or interview an expert. This will make you appear all the more credible in your field.
4. eBooks. Easy to produce and without the overhead of traditional printing costs. You can sell them, give them away as bonuses, give them to others to give away as bonuses, or all of the above. Do not neglect the quality of the writng, editing, and layout – all are essential for a quality product. But don’t slave over it either. Done is better than perfect.
5. Video viral marketing. In January 2009, 100 million viewers watched 14.8 BILLION videos on YouTube. And while it’s the most popular video distribution site, it’s far from the only one. Find your niche. Create a video series. And get it uploaded. Again, quality matters – but don’t slave over it.
Marketing is not rocket science. It just takes a plan and a boatload of action. In order to be successful, you need to create a schedule you can stick to. Start with one medium, work it well, and once you’ve gotten it successfully underway, add another.
Best of luck to you!
Laura
October 31st, 2009 at 8:44 pm
Studies show that marketing methods such as TV, Radio, Newsprint, have a anticipated ROI of 5:1 and viral marketing online is the trend but still truly does not convert actual sales overall. The second to none method of marketing or advertising is direct mail at a measure average ROI of 11:1 from credited 3rd party research. There are many lists with specific filters to directly communicate to your potential consumers. Just ensure your material is attractive, select the delivery days to be Tuesday or Wednesday (usually less material in the mail box those days) and your offer needs to be sexy.
Hope this helps!!