Marketing and

Your Small Business

Marketing isn’t just:Sales.Filling the funnel.New ideas or “new and improved.Pricing.Social media.Knowing your target audience. Advertising.Networking.Customer service. Making money.

Marketing is:

Everything you do!!

Pieces of the Marketing Puzzle

• Know the landscape• Be found• Get the customer to take action• Support • Form relationships• Measure what works• Other marketing basics– Marketing p’s

Know the LandscapeIndustry

The Competition

3 Basic Types1. Direct2. Similar 3. Anyone selling something

Be Found• It’s not “build it and they will come”• Being found is being visible• “Finding you” is not the same as “Being

found” – What prompts me to even look??

• A mix of traditional and online marketing• It starts with youResource: Social media – Power of Business - https://www.youtube.com/watch?v=zwISjlIK_UI

Be Found

• For many, this is “marketing”• Not just online or traditional media. – It is probably a mixture of both. – Where is your audience?

• It begins with you

Resource: Social media – Power of Business - https://www.youtube.com/watch?v=zwISjlIK_UI

Be Found

• Traditional–Promotions• Events, give-aways

–Publicity• TV, radio, print,

flyers–PR• Free, be the

“expert, columnist

• Online - It starts with a website

Be Found – It Begins with You• An online presence• Networking• Elevator speech – UNL Connie Reimers Hild -

https://www.youtube.com/watch?v=ftdUloCoJqo

• Business card– Don’t leave ½ blank

• Your Brand

Be Found – Your Brand

• Brand = Who you are and what you represent• Brand is built over time• Building a Brand - https://

www.youtube.com/watch?v=vZLWDeG8leg

"You can't build a reputation on what you're going to do." -- Henry

Ford

Be Found

On average, must hear or see your business:–3 to 5 times before I remember you exist–7 to 10 times before I take action

Be Found - Be Visual

• 1 picture = 1000 words• Videos• Visual merchandising – off-line and on-line• Infographics

Get the Customer Taking Action• It takes:• 3 to 5 times till I remember you exist• 7 to 10 times before I take action

• Need a call-to-action

Free ______BuyPurchaseShopTest

VisitFindOrderReviewDownload

Support • Begins before they walk out of the door• After purchase support• Warranty/Guarantee• Refunds• Tips and ideas how to use• Product updates• Staying in touch• Delivery/pick-up/disposal/wrapping

Support

"If you make a sale, you can make a living. If you make an investment of time and good service in a customer, you can make a fortune." -- Jim Rohn

Support - Keeping Your Customers

• Why1. Expense • $20-$50 to gain a new customer• $1-$3 to retain an existing customer

2. Ability to learn more about them and sell to them again

"Do your own market research; ask your last ten customers exactly why they bought from you." -- Brian Tracy

Support – Service Statistics• Before the Internet– A dissatisfied customer will tell up to 10 people.

Approximately 13% will tell up to 20 people.– Happy customers will tell between 3 and 5 people

• Today – Complain using online review sites & social media in

general– Some 4 - 10% of customers complain

• For every complaint there are 3 other dissatisfied customers

– 95% of dissatisfied customers will continue doing business with you if you act quickly and solve the issue• They can be your biggest fan

Support – Making It Right

• Don’t argue• Listen carefully• Apologize • Thank the customer• Show empathy

• Make restitution• Do what you promise• Follow up• Give them something

"Always do right! This will gratify some people and astonish the rest.”– Mark Twain

Form Relationships

• Your best customers are your current customers. – They know you. Give them a reason to return.– Make them your ambassadors - #1 tool• Nurture them - Keep in contact – Loyalty programs• Ask questions • Listen – Follow up when you use their

ideas/suggestions• Suggest they do a review

I love XYZ.com

#1 Tool

Word

of

mouth

Other Marketing Elements

• Price – Profit is not a four letter word– “Price is what you pay. Value is what you get.” –

Warren Buffet– Remember the credit card slogan, “Memories –

Priceless” • Place – It depends, however, you do need

some type of online presence• Packaging• Production

Measure What Works

• The ultimate

• Test – Message, Correct audience, Desired action, Was it heard?

• ROI – Return on investment – “Get the biggest bang for the buck”– And don’t get confused – Faster/More ≠ Better

– http://sethgodin.typepad.com/seths_blog/2014/05/speedometer-confusion.html

Closed (CC) Becky McCray, on Flickr

Glenn Muske, NDSU — glenn.muske@ndsu.edu Connie Hancock, UNL Extension —

chancock@unl.edu

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