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From Wikipedia, the free encyclopaedia
is an ongoing process of planning and executing the marketing mix
(Product, Price, Place, Promotion) for products, services or ideas to
create exchange between individuals and organizations.
Marketing tends to be seen as a creative industry, which includes advertising, distribution and selling. It is also concerned with anticipating the customers' future needs and wants, which are often discovered through market research.
Essentially, marketing is the process of creating or directing an organization to be successful in selling a product or service that people not only desire, but are willing to buy. Therefore good marketing must be able to create a "proposition" or set of benefits for the end customer that delivers value through products or services.
It's specialist areas include: advertising and branding, communications, database marketing, direct marketing, event organization, field marketing, global marketing, international marketing, internet marketing, industrial marketing, market research, public relations, retailing, search engine marketing, marketing strategy, marketing plan, strategic management, experiential marketing, Social Influence Marketing.
Ever see those plaza store events, like when a new Harry Potter book is released? All the stores get together and celebrate the launch of the book in different ways. Obviously there’s the bookstore release, but the local video and game rental store gets in the act.
So does the family restaurant, ice-cream vendor, and arcade. Even the dry cleaning store can get involved and pump up their business, if they stick to a common theme. And this is all announced ahead of time (with appropriate press releases, etc.) so people coming down know what to expect.
“Oh, great, we can get the book for little Sally, I can drop off my suit at the cleaners, my wife can go to the apparel store. What a great time this will be for the whole family!”
Start a Talk Show – If you have regular content to deliver that your target market wants, your own local talk show may be another avenue to cut through the clutter. Where I live there are plenty of local access stations that have these types of programs, and in most cases the community stations are free to air your programs.
Think nobody watches them? Well, you’re not going to beat out American Idol, and even infomercials will likely edge you out, but informal surveys I’ve conducted tell me that people are aware of these shows, and sometimes watch all or a part of one during late night channel surfing.
There are even some regular “shows” that some of the locals rely on for information they can’t easily get anywhere else. The key is to not do the same boring thing everyone else is doing.
In my local Rare Reminder newspaper, a local cable-access talk show host who DOES have people watching advertises for guests. If you can’t start your own talk show, why not appear as a guest on one? You can get a DVD recording of it to use as a lead generation device. You can get great leads that way if your target market is watching.
Word of Mouth / Viral Marketing – The key here is create something that people will want to share. Yes, the “tell a friend” scripts are good online. The gift certificate idea mentioned previously is another. But surely there’s something you can think of to really “wow” them. You want to make them say “Wait until Jane sees this!”
One of the keys to making this work (and any sort of lead generation device) is to know your customer’s lifetime value. In other words, what does your average customer in this market (using the type of lead generation you are doing) bring me in profits over their entire lifetime?
Let’s say it’s $25,000. And let’s say your method of gathering leads converts 10% of leads into customers. Do you think it’s wise to spend $100 per lead of that type in your efforts? Seems like a no-brainer to me.
Volunteer – Besides making you feel good about helping a worthy cause, it’s a great way to network if you can volunteer where you come into contact with prospects (or people who have frequent contact with your prospects).
Unusual Places for Ads – I should say “unused places.” Wherever a space is zoned for advertising and it’s blank, there’s an opportunity to get your message out. The side of a van. The side of a dumpster. Wherever.
Be an In-house Speaker – Besides getting great fees to appear and speak, you establish yourself as the expert. And like your free local mini-seminar, it’s a great place to pitch your products and services.
In-house Presentations – JP Maroney talked about the stadium pitch on our call. I believe he was referring to a Chet Holmes article that talked about in-house presentations and closing the sale. I’m not going to say it better than Chet, so I’ll refer you to that article so you can read it yourself. Great stuff!
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