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Casual Articles - Marketing Essentials for the Entrepreneur
To be able to carry out a certain project or endeavor, an individual or group of individuals-usually in organizations-need funds. Needless to say, funds are the lifeblood or any organization for without it, no project shall be carried out.As defined, fundraising refers to the process of soliciting or gathering money or other incentives and gifts in kind by the party requesting for it. These parties usually include individuals, businesses, charitable foundations, and governmental agencies that request donations and assistance from other organizations to be able to carry out a project for a cause.Although fundraising is commonly known as the collaborative effort in gathering funds for and by not-for-p
How will driving that vehicle make you "feel". Men may say it's the "hemi" engine, but they are not buying the engine - they are buying the emotion of masculinity, strength, power. A woman does not buy a dress based on the quality of the material but how it
To raise funds for your non profit, you may have to think farther than just relying on ordinary fundraising activities like raffles and selling campaigns. There are several secrets to your fundraising campaigns, which are not available anywhere in many of the books and online resources.1. Real-time Advertising: This is a surefire method that can project your fundraising idea to potential donors. You can advertise your non profit over internet, radio, print media and television.2. Letters: Well written and professional letters will carry your ideas across to those donors in beautiful words. You will need to include plenty of evidences and supporting materials like annexure, pictures and tables.
A critical component to successful marketing is market research, yet it is the aspect of marketing that is least utilized by business, especially small businesses. Market research is the key ingredient in truly knowing who your customer is and why they do what they do. Advertising is only as effective as the market research that supports it.
How well do you really know your customer? Once you get past the demographics (assuming your really know that) how well can you answer the following questions?
1) My product/service is purchased based on
a. Emotions
b. Logic
2) The biggest "pain" or need my customers experience that I am equipped to satisfy is ______.
3) The decision maker for the product or service I provide is ____________________.
4) The major influencer for the decision to buy my product or service is _____________.
5) I have a consistent process to solicit feedback from customers for future product
development.
a. True
b. False
6) I know for every person that complains about my product or service, there are ______ who didn't complain vocally but did so by taking their business elsewhere.
7) I have identified the following buying trends of my core target market over the past
a. Six months
b. 12 months
c. 18 months
d. 2 years
e. Trend __________________________________________________.
8) My target audience is best reached by:
a. Radio
b. Television
c. Direct Mail
d. Internet
e. Flyers (if so, list where they should be posted)
f. Billboards
g. Other_________________
If you can provide detailed answers to all of the above questions, congratulations, you are now ready to develop a marketing campaign. If you were not able to answer all of the above questions, save your advertising dollars and spend them on market research.
From the market research you will be able to identify the next key element in marketing: what motivates the decision to buy. Most people think that logic is the catalyst for buying decisions and in a select few industries that is correct. Those making decisions on technology, medicine or something in the sciences will likely do so on the basis of logic. However, the average consumer makes very few decisions based on logic. A new car or truck purchase is not based on logic, it is based on emotion.
How will driving that vehicle make you "feel". Men may say it's the "hemi" engine, but they are not buying the engine - they are buying the emotion of masculinity, strength, power. A woman does not buy a dress based on the quality of the material but how it
Postcards are highly regarded as a vital tool for promotions and advertising. It had valuably worked to help business make them recognized in the market. With this tool businesses were able to impart a valuable service of making people aware of the services they can provide.As a key towards successful marketing postcards can gain customer confidence and turn them out to be potential clients. However to successfully attain the needed sensation for postcards there are several factors that are needed to be considered.1. The designs – your postcards can speak for you. They represent and tell how good and effective your businesses are. You can creatively choose for designs from art work, paintings, image
How well do you really know your customer? Once you get past the demographics (assuming your really know that) how well can you answer the following questions?
1) My product/service is purchased based on
a. Emotions
b. Logic
2) The biggest "pain" or need my customers experience that I am equipped to satisfy is ______.
3) The decision maker for the product or service I provide is ____________________.
4) The major influencer for the decision to buy my product or service is _____________.
5) I have a consistent process to solicit feedback from customers for future product
development.
a. True
b. False
6) I know for every person that complains about my product or service, there are ______ who didn't complain vocally but did so by taking their business elsewhere.
7) I have identified the following buying trends of my core target market over the past
a. Six months
b. 12 months
c. 18 months
d. 2 years
e. Trend __________________________________________________.
8) My target audience is best reached by:
a. Radio
b. Television
c. Direct Mail
d. Internet
e. Flyers (if so, list where they should be posted)
f. Billboards
g. Other_________________
If you can provide detailed answers to all of the above questions, congratulations, you are now ready to develop a marketing campaign. If you were not able to answer all of the above questions, save your advertising dollars and spend them on market research.
From the market research you will be able to identify the next key element in marketing: what motivates the decision to buy. Most people think that logic is the catalyst for buying decisions and in a select few industries that is correct. Those making decisions on technology, medicine or something in the sciences will likely do so on the basis of logic. However, the average consumer makes very few decisions based on logic. A new car or truck purchase is not based on logic, it is based on emotion.
How will driving that vehicle make you "feel". Men may say it's the "hemi" engine, but they are not buying the engine - they are buying the emotion of masculinity, strength, power. A woman does not buy a dress based on the quality of the material but how it
Students with entrepreneurial mindsets begin thinking about starting their own business on the internet as early as high school. Some of the college students are already doing business online, some hugely successful. Why are they targeting the internet? Most students, mainly college students that are thinking more towards entrepreneurship, do not have the financial flexibility to take their ideas to the streets. They have to deal with academics at the same time working on their business project, and internet is the most accessible place to "test the water".Not only is it more affordable compared to any physical business, it's easier to reach out to people to market their products or services. There ar
5) I have a consistent process to solicit feedback from customers for future product
development.
a. True
b. False
6) I know for every person that complains about my product or service, there are ______ who didn't complain vocally but did so by taking their business elsewhere.
7) I have identified the following buying trends of my core target market over the past
a. Six months
b. 12 months
c. 18 months
d. 2 years
e. Trend __________________________________________________.
8) My target audience is best reached by:
a. Radio
b. Television
c. Direct Mail
d. Internet
e. Flyers (if so, list where they should be posted)
f. Billboards
g. Other_________________
If you can provide detailed answers to all of the above questions, congratulations, you are now ready to develop a marketing campaign. If you were not able to answer all of the above questions, save your advertising dollars and spend them on market research.
From the market research you will be able to identify the next key element in marketing: what motivates the decision to buy. Most people think that logic is the catalyst for buying decisions and in a select few industries that is correct. Those making decisions on technology, medicine or something in the sciences will likely do so on the basis of logic. However, the average consumer makes very few decisions based on logic. A new car or truck purchase is not based on logic, it is based on emotion.
How will driving that vehicle make you "feel". Men may say it's the "hemi" engine, but they are not buying the engine - they are buying the emotion of masculinity, strength, power. A woman does not buy a dress based on the quality of the material but how it
In parts 1 and 2, We convinced you you’ve got to have a website, and we’ve shared some things to consider before having one designed, so now it’s time to think about how you can generate revenue 24 / 7.You’ve worked hard to build a business but let’s face it, you’re limited in how much you can make because your business can only be open a certain number of hours a day. If you provide a service to consumers or B2B clients, you’re even more limited in your earning potential because there’s only so much of you to go around. It’s time to embrace the old clich? “work smarter, not harder” or, as our Creative Director, Guy Richards, says “leverage your time” so you maximize your earning potential.Using the
a. Radio
b. Television
c. Direct Mail
d. Internet
e. Flyers (if so, list where they should be posted)
f. Billboards
g. Other_________________
If you can provide detailed answers to all of the above questions, congratulations, you are now ready to develop a marketing campaign. If you were not able to answer all of the above questions, save your advertising dollars and spend them on market research.
From the market research you will be able to identify the next key element in marketing: what motivates the decision to buy. Most people think that logic is the catalyst for buying decisions and in a select few industries that is correct. Those making decisions on technology, medicine or something in the sciences will likely do so on the basis of logic. However, the average consumer makes very few decisions based on logic. A new car or truck purchase is not based on logic, it is based on emotion.
How will driving that vehicle make you "feel". Men may say it's the "hemi" engine, but they are not buying the engine - they are buying the emotion of masculinity, strength, power. A woman does not buy a dress based on the quality of the material but how it
Have you ever walked into a business establishment and been immediately struck by a negative, tense atmosphere? Sure you have! And did you do what most of us do? Stand there in the hopes of getting someone's attention - shifting from foot to foot and clearing your throat only to be met with a stony silence and averted faces! Finally you speak up in the hopes that one of the employees in your line of vision will respond. Ah! Here comes one now! Plastered on his/her face is a long-suffering look of "if I must then I will help you"! This is NOT a "happy" employee.How an employer appreciates and treats his employees is reflected in their attitudes. Savvy employers know that contented employees are an inte
How will driving that vehicle make you "feel". Men may say it's the "hemi" engine, but they are not buying the engine - they are buying the emotion of masculinity, strength, power. A woman does not buy a dress based on the quality of the material but how it makes her "feel". It can be of superior quality and value for the price but if she puts it on and she "feels" fat, it will stay on the shelf. There are very few products purchased solely on logic. The main impetus for purchase is an emotional one that may then be supported by logic as the buyer compares competitors, but even then the competitive advantage will still lean toward the company that does the best job of hitting the right combination of emotion and logic.
Ok, so you've done your market research and you know what triggers the buying decision, now you are ready to begin making advertising decisions:
Copy - Advertising copy is a critical element of advertising and is often the most poorly done. Your ad copy must contain some key elements: Headline, Hook, Call to Action
Advertising Strategy - what is the best advertising medium to use? Newspaper ads? Radio? Internet? Direct Mail? Will you include a promotion (not the same as an advertisement)? The answers to these questions must be an outcome of the market research; without the research you may spend many advertising dollars in an area where your audience can't be found.
Budget - How much do you have to spend? What is the anticipated ROI? Do you have the resources to create and design the campaign or must that be factored into the budget as well?
Campaign - Research has proven that a consumer must hear (or see) the same thing a minimum of three times before it even registers. The more expensive, difficult or competitive the product, the greater the need for repetition.
Your logo, branding, customer communications, product design, promotions and advertising are all part of a marketing strategy that must be born out of your market research. True marketing consists of all of these elements.
Try this: over the next 21 days, analyze the advertising campaigns you see. Make note of what programs (for TV or radio) or pages (for print) specific products are advertised around. See if you can determine the target audience based on its placement. Then identify the "hook" in each advertisement and see if you can identify the emotion it is addressing. Then rate the advertisement, especially if you think you are part of the target audience. Just because an advertisement costs big dollars does not necessarily mean it is effective.
Marketing is something many think they can do and very few do it well...take the test and see.
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