So, you are ready to write your big marketing and advertising plan and, of course, you want it to be successful. After all, it is expensive and time consuming to advertise your business, especially in today's active environment. It seems like every type of business, from mom and pop shops to the biggest corporations are already out there, actively marketing and promoting their products or services. How could there be room for your business to stand out amongst all the marketing clutter and noise? They all seem to have their websites in place, ad campaigns and repetitive marketing mantras. So, where do you start? What is the most effective way to promote your business? And how do you avoid making an expensive mistake? First, do your homework.
Consider that the advertising industry is based on facts and figures. It is simple to find out what similar companies are doing to advertise their businesses by consulting an industry association, visiting local chambers of commerce, asking the reference desk clerk at your local public library and, of course, by using the Internet. There are several industry publications with facts and figures for nearly every type of business. Advertising agencies typically use Nexus Lexus, Nielson, online resources such as industry associations or by using search terms such as “top 20 widgets” or “best widgets” to find out about a new client they are about to promote.
After surveying the competitive field, conduct a short SWOT analysis for your business. SWOT stands for Strengths, Weaknesses, Opportunities and Threats. The quick version of this is done by making a list of similar competitors in your market and comparing their products or services to your own. Make a list of your product or service strengths and weaknesses versus theirs. Then, compare each item on your list and decide which areas are opportunities and what business threats your competitors may pose.
Additionally, taking your marketing and advertising plan to potential clients with a short market survey can be effective. In doing this, it is important to listen. Ask your customers what they like about your business and why they buy from you. Also, ask what they think you could improve. Be careful – do not make them think you will change your business model. Let them know that you will take all comments into consideration. Find out what is most important to them about your product and service. Better yet, find out what is important to them that your competition does not offer and use that in your next advertising campaign.
For more information about marketing and public relations, please contact Jeff Donnelley at (888) 760-4332 or [email protected]. Also visit www.760media.com.
Consider that the advertising industry is based on facts and figures. It is simple to find out what similar companies are doing to advertise their businesses by consulting an industry association, visiting local chambers of commerce, asking the reference desk clerk at your local public library and, of course, by using the Internet. There are several industry publications with facts and figures for nearly every type of business. Advertising agencies typically use Nexus Lexus, Nielson, online resources such as industry associations or by using search terms such as “top 20 widgets” or “best widgets” to find out about a new client they are about to promote.
After surveying the competitive field, conduct a short SWOT analysis for your business. SWOT stands for Strengths, Weaknesses, Opportunities and Threats. The quick version of this is done by making a list of similar competitors in your market and comparing their products or services to your own. Make a list of your product or service strengths and weaknesses versus theirs. Then, compare each item on your list and decide which areas are opportunities and what business threats your competitors may pose.
Additionally, taking your marketing and advertising plan to potential clients with a short market survey can be effective. In doing this, it is important to listen. Ask your customers what they like about your business and why they buy from you. Also, ask what they think you could improve. Be careful – do not make them think you will change your business model. Let them know that you will take all comments into consideration. Find out what is most important to them about your product and service. Better yet, find out what is important to them that your competition does not offer and use that in your next advertising campaign.
For more information about marketing and public relations, please contact Jeff Donnelley at (888) 760-4332 or [email protected]. Also visit www.760media.com.