marketing on a shoestring budget
DESCRIPTION
Tips on how to spur sales and build your brand when operating on a shoestring budget.TRANSCRIPT
Marketing on a Shoestring
How to Stretch Small Budgets How to Stretch Small Budgets to Get BIG Resultsto Get BIG Results
Presented byDebbie Elliott
www.talkinc.com
How Much to Spend?
A “rule of thumb” in marketing is:
• 5% to maintain status in market
• 10% to grow
How Much to Spend?
• Factors that influence % of spending:– Tenure in the marketplace– # of products to market– Industry (b2b requires less than retail)– How much & how quickly you want to grow– Competitive marketplace– External pressures - economy, etc.– Reputation
Educate & Measure
• Whenever possible, educate leadership about your industry’s norms for marketing spending
• Always measure your marketing ROI– Merchandise your successes – Create a scorecard that measures pre-determined
goals– Make a case for increased spending based on
goals achieved and demonstrated ROI
4-Step Process
• Whether your budget is 10% or 1%, base all campaigns on sound analysis and strategy.
• Steps are sequential.• Don’t jump into Tactics
right away.• Consistently evaluate
and adapt as needed.
Shoestring Tactics
• Website• Online marketing• Public Relations• Community Relations• Promotions• Speaking Engagements• Sponsorships• Networking• Strategic ad buys with added value• Events• Awards
Website as Viewbook
Best ROI Market your site SEO & SEM Update site Incorporate blog Hire pros Incorporate video Include SM links Links & directories
Online Marketing
Blog Facebook Twitter (monitor brand)
Flickr (photos)
Directories Reviews/Forums E-newsletter Email database Newsroom
Public Relations
Identify all of your various publics:
Parents Students Referral sources Employees Business and opinion leaders HR personnel Economic development leadership Media
Public Relations
How are you communicating with each of these publics?
Existing parents, students and employees can be best ambassadors of your brand.
Make sure they understand andcan communicate the brand platform
Create an elevator speech and make sure employees use it
Public Relations
Media relations is a great shoestring tactic
3rd party “endorsement” of brand
Be consistent in communicating with the media
Be an expert resource and provide story ideas
Engage in media training to hone skills
Localize national trends or stories
Develop relationships with reporters
Key Messages are Key
Develop 3 to 5 key messages for your organization
Internalize these key messages so you can easily articulate them
Use key messages in all interview opportunities
Interviews are about delivering key messages, not just answering questions.
Sweat equity
Volunteer
Does your organization promote and support volunteerism?
Board membership for leadership
Publicize your good works with local media and online
Community Relations
Creative ideas that tie into current events and trends
Example: Superbowl Talkies
Example: Take Your Dog to Work Day
Example: Extreme Makeover, County Edition
A clever idea can be easy to execute and can secure widespread media coverage.
Promotions
Position leadership as an expert and schedule speaking opportunities
Prepare speaker’s kit and put on website
Create series of presentations that can be delivered to various groups
Opportunities include:
Rotary, Kiwanas and other service clubsNewcomers ClubsLocal community college and university Conferences - local and regional
Speaking Engagements
Selective sponsorships can get you more bang for your buck than ad buys
Often receive speaking opportunity as part of sponsorship
Community relations benefit
Analyze sponsorships just like ad buys:
Identify the audience demographics - is it the right fit?Negotiate sponsorship benefitsLook for brand exposure opportunities Can you leave behind materials?
Sponsorships
Civic clubs
Chamber expos
Economic development
Social networking
Networking
Online ads with links
Ads linked to editorial
Added value with buys
Don’t overspend!
Strategic Ad Buys
Get them on campus!
Open houses
Let local groups use school auditoriums for community uses
Simple, creative and inexpensive
Special Events
It’s a sorry dog that can’t wag its own tail.
Awards generate publicity and credibility
Research and identify awards to target; create timetable
Pursue and publicize!
Awards
Set realistic goals for each tactic
Measure against goals
Be flexible and adapt
Merchandise and repeat successes
Be opportunistic
Evaluate & Adapt
www.talkinc.com
910-371-9770
Cell: 910-471-3181
Talk, Inc.