Branding & Cost-Effective Marketing Strategies - AimFire Marketing - Indianapolis, Indiana

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Hendricks County Indiana small business expo - workshop on how to create a successful brand for your small business, as well as five strategies on how to market your business on a limited budget.

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Branding & Cost-Effective Marketing Strategies - AimFire Marketing - Indianapolis, Indiana

  1. 1. Branding & Cost-Effective Marketing Presented by: Susan Young, President AimFire Marketing www.aimfiremarketing.com Hendricks County Excelerate 2011
  2. 2. An Introduction <ul><ul><li>Brownsburg resident </li></ul></ul><ul><ul><li>Wife and mom of two girls </li></ul></ul><ul><ul><li>Advertising graduate – University of Illinois </li></ul></ul><ul><ul><li>Owner of AimFire Marketing since 2005 </li></ul></ul><ul><ul><li>Outsourced marketing, PR, web, SEO and social media help for small businesses </li></ul></ul>www.aimfiremarketing.com Hendricks County Excelerate 2011
  3. 3. Overview of Discussion: <ul><ul><li>What is Branding? </li></ul></ul><ul><ul><li>Examples of National & Local Brands </li></ul></ul><ul><ul><li>Branding – The Name, Image & Message </li></ul></ul><ul><ul><li>Branding Across All Marketing Mediums </li></ul></ul><ul><ul><li>Evaluating & Protecting Your Brand </li></ul></ul><ul><ul><li>Setting a Marketing Budget </li></ul></ul><ul><ul><li>Cost-Effective Marketing </li></ul></ul><ul><ul><li>Examples of Cost-Effective Marketing </li></ul></ul><ul><ul><li>Tracking Your Marketing ROI </li></ul></ul>www.aimfiremarketing.com Hendricks County Excelerate 2011
  4. 4. What is a Brand? <ul><ul><li>Identity of a product, service or business </li></ul></ul><ul><ul><li>Various forms: </li></ul></ul><ul><ul><ul><li>Name </li></ul></ul></ul><ul><ul><ul><li>Sign </li></ul></ul></ul><ul><ul><ul><li>Symbol (logo) </li></ul></ul></ul><ul><ul><ul><li>Slogan (tagline) </li></ul></ul></ul><ul><ul><li>Can be protected via Trademark </li></ul></ul><ul><ul><li>Affects and reflects the personality of the product, company or service </li></ul></ul>www.aimfiremarketing.com Hendricks County Excelerate 2011
  5. 5. <ul><ul><li>Longevity </li></ul></ul><ul><ul><li>Communicates consistent message to target audience </li></ul></ul><ul><ul><li>Gives your company a personality </li></ul></ul><ul><ul><li>Connotes the qualities, value and benefits of your product or service </li></ul></ul>Why is Having a Good Brand Important? www.aimfiremarketing.com Hendricks County Excelerate 2011
  6. 6. World’s Most Recognizable Brands <ul><ul><li>Coca Cola </li></ul></ul><ul><ul><li>IBM </li></ul></ul><ul><ul><li>Microsoft </li></ul></ul><ul><ul><li>GE </li></ul></ul><ul><ul><li>Nokia </li></ul></ul><ul><ul><li>McDonald’s </li></ul></ul><ul><ul><li>Google </li></ul></ul><ul><ul><li>Toyota </li></ul></ul><ul><ul><li>Intel </li></ul></ul><ul><ul><li>Disney </li></ul></ul><ul><li>Source: 2009 Interbrand & Business Week Annual Survey </li></ul>www.aimfiremarketing.com Hendricks County Excelerate 2011
  7. 7. Components of a Brand <ul><ul><li>The Name (business name, domain name) </li></ul></ul><ul><ul><li>The Image (logo/graphic/icon) </li></ul></ul><ul><ul><li>The Message (tagline, description) </li></ul></ul>www.aimfiremarketing.com Hendricks County Excelerate 2011
  8. 8. Branding: The Name <ul><ul><li>Identifies company product/service </li></ul></ul><ul><ul><li>Unique </li></ul></ul><ul><ul><li>Memorable </li></ul></ul><ul><ul><li>Easy to pronounce or spell </li></ul></ul><ul><ul><li>Evokes feeling or meaning </li></ul></ul><ul><ul><li>Can be trademarked </li></ul></ul><ul><ul><li>Domain name is available </li></ul></ul>www.aimfiremarketing.com Hendricks County Excelerate 2011
  9. 9. The Business Name <ul><li>“ A good name is more desirable than great riches.” </li></ul><ul><li>– Proverbs 22:1 </li></ul>www.aimfiremarketing.com Hendricks County Excelerate 2011
  10. 10. Branding: The Logo <ul><li>Three Elements: </li></ul><ul><ul><li>Graphic image / icon / picture </li></ul></ul><ul><ul><li>Color </li></ul></ul><ul><ul><li>Font </li></ul></ul>www.aimfiremarketing.com Hendricks County Excelerate 2011
  11. 11. Big Ten Logo www.aimfiremarketing.com Hendricks County Excelerate 2011
  12. 12. New Big Ten Logo <ul><li>Symbolize future, heritage, tradition of competition, academic leadership & passionate alumni </li></ul><ul><li>Contemporary collegiate lettering </li></ul><ul><li>Embedded numeral &quot;10&quot; in the word &quot;BIG,&quot; which allows fans to see &quot;BIG&quot; and &quot;10&quot; in a single word </li></ul><ul><li>No reference to the number of member institutions </li></ul><ul><li>Flexibility of multiple versions which can be used horizontally, vertically and within new media </li></ul>www.aimfiremarketing.com Hendricks County Excelerate 2011
  13. 13. Things to Consider: Logo <ul><ul><li>Make a good first impression </li></ul></ul><ul><ul><li>Visual representation of what you offer </li></ul></ul><ul><ul><li>Resonate with your target audience </li></ul></ul><ul><ul><li>Professional </li></ul></ul><ul><ul><li>Unique from competitors </li></ul></ul><ul><ul><li>Translate well to all forms of media </li></ul></ul><ul><ul><li>Timeless & memorable </li></ul></ul>www.aimfiremarketing.com Hendricks County Excelerate 2011
  14. 14. Logo: The Icon <ul><ul><li>Don’t necessarily need an icon (font-only logos such as Microsoft) </li></ul></ul><ul><ul><li>Could have icon only (Nike) </li></ul></ul><ul><ul><li>Symbolizes what you want to communicate </li></ul></ul><ul><ul><li>Avoid clip art and “logo design factories” </li></ul></ul>www.aimfiremarketing.com Hendricks County Excelerate 2011
  15. 15. Color Choice <ul><ul><li>Cool Colors: Calming, Nurturing Effect </li></ul></ul><ul><ul><ul><li>Blue, green, turquoise, gray, silver </li></ul></ul></ul><ul><ul><li>Warm Colors: Exciting, Optimism, Anger </li></ul></ul><ul><ul><ul><li>Red, pink, yellow, gold, orange </li></ul></ul></ul><ul><ul><li>Neutral: Unifying, Subtle </li></ul></ul><ul><ul><ul><li>Brown, beige, ivory, gray, black, white </li></ul></ul></ul><ul><ul><li>Color combinations: harmonizing, contrasting, complementary </li></ul></ul>www.aimfiremarketing.com Hendricks County Excelerate 2011
  16. 16. Choosing a Font <ul><ul><li>Legible </li></ul></ul><ul><ul><li>Scalable </li></ul></ul><ul><ul><li>Enhances the Business </li></ul></ul><ul><ul><li>Matches with the Icon/Graphic </li></ul></ul><ul><ul><li>Translates to Web, Print </li></ul></ul><ul><ul><li>Consider font size, font type, bold, italic </li></ul></ul><ul><ul><ul><li>Serif, sans-serif, script, decorative </li></ul></ul></ul>www.aimfiremarketing.com Hendricks County Excelerate 2011
  17. 17. Branding: The Message <ul><ul><li>Determine your target audience </li></ul></ul><ul><ul><li>What reasons will make them want to buy? </li></ul></ul><ul><ul><li>How are you truly different than competitors? </li></ul></ul><ul><ul><li>What is your brand’s personality? </li></ul></ul><ul><ul><li>Includes vision, mission, tagline, marketing messages, ad headlines, copy, Web, etc. </li></ul></ul>www.aimfiremarketing.com Hendricks County Excelerate 2011
  18. 18. Branding & Your USP <ul><ul><li>Unique Selling Proposition </li></ul></ul><ul><ul><li>Unique “Selling Point” </li></ul></ul><ul><ul><li>Reason you are different from or better than the competition </li></ul></ul><ul><ul><li>Needed to target and market yourself successfully </li></ul></ul><ul><ul><li>Incorporate USP into your brand </li></ul></ul><ul><ul><li>Worksheet exercise </li></ul></ul>www.aimfiremarketing.com Hendricks County Excelerate 2011
  19. 19. The Tagline <ul><ul><li>Definition: A reiterated slogan or phrase that conveys the most important product attribute or benefit that the company wishes to convey </li></ul></ul><ul><ul><li>Often used as a theme in advertising (each can have own tagline) </li></ul></ul><ul><ul><li>Clever, catchy, serious, memorable </li></ul></ul><ul><ul><li>Appeal to humor, reasoning, emotions, etc. </li></ul></ul>ISBDC Workshop www.aimfiremarketing.com
  20. 20. Tagline Examples: Worldwide Brands <ul><ul><li>GE: Imagination at Work </li></ul></ul><ul><ul><li>Coca-Cola: Open Happiness </li></ul></ul><ul><ul><li>Nokia: Connecting People </li></ul></ul><ul><ul><li>McDonald’s: I’m Lovin’ It </li></ul></ul><ul><ul><li>Toyota: Moving Forward </li></ul></ul><ul><li>Worldwide brands tend to be more emotional and less logical/descriptive </li></ul>www.aimfiremarketing.com Hendricks County Excelerate 2011
  21. 21. Tagline Examples: Local Brands <ul><ul><li>Benjamin Franklin Plumbing: “The Punctual Plumber” </li></ul></ul><ul><ul><ul><li>Highlights key benefit (on time) </li></ul></ul></ul><ul><ul><ul><li>Translates into USP (we’ll pay if we’re late) </li></ul></ul></ul><ul><ul><li>Indiana Department of Tourism: “Restart Your Engines” </li></ul></ul><ul><ul><ul><li>Double entendre </li></ul></ul></ul><ul><ul><ul><li>Highlights excitement, but relaxation & rejuvenation </li></ul></ul></ul><ul><ul><ul><li>What Indiana is known for </li></ul></ul></ul><ul><ul><ul><li>Previous tagline “Enjoy Indiana” - not unique anymore </li></ul></ul></ul>www.aimfiremarketing.com Hendricks County Excelerate 2011
  22. 22. When to Re-brand <ul><ul><li>Brand no longer reflects company, products, services or mission </li></ul></ul><ul><ul><li>Needs updating / modernizing </li></ul></ul><ul><ul><li>Entering new markets </li></ul></ul><ul><ul><li>Brand extension – new product lines </li></ul></ul><ul><ul><li>Logo uses clip art </li></ul></ul><ul><ul><li>Brand is too similar to competitors </li></ul></ul><ul><ul><li>Doesn’t translate to other mediums </li></ul></ul>Hendricks County Excelerate 2011 www.aimfiremarketing.com
  23. 23. Branding Across all Mediums <ul><ul><li>Business Cards </li></ul></ul><ul><ul><li>Letterhead </li></ul></ul><ul><ul><li>Envelopes </li></ul></ul><ul><ul><li>Brochures </li></ul></ul><ul><ul><li>Sales Sheets </li></ul></ul><ul><ul><li>Packaging </li></ul></ul><ul><ul><li>Website </li></ul></ul><ul><ul><li>Blog </li></ul></ul><ul><ul><li>Social Media </li></ul></ul>Hendricks County Excelerate 2011 www.aimfiremarketing.com <ul><ul><li>PowerPoint Presentations </li></ul></ul><ul><ul><li>Trade Show Booths </li></ul></ul><ul><ul><li>Banners / Posters </li></ul></ul><ul><ul><li>eMail Newsletters </li></ul></ul><ul><ul><li>Advertising </li></ul></ul><ul><ul><li>Direct Mail </li></ul></ul><ul><ul><li>Promo Products </li></ul></ul><ul><ul><li>Vehicle Graphics </li></ul></ul>
  24. 24. Recent Re-Brands: Hendricks County Excelerate 2011 www.aimfiremarketing.com
  25. 25. <ul><ul><li>Apply for a trademark at the U.S. Patent and Trademark Office (USPTO.gov) </li></ul></ul><ul><ul><li>Can trademark a company name, logo, tagline, slogan or jingle </li></ul></ul><ul><ul><li>A registered trademark protects from competitors or 3 rd party usage </li></ul></ul><ul><ul><li>Costs range from $275 - $375 </li></ul></ul><ul><ul><li>May not be necessary for small business </li></ul></ul>Protecting Your Brand www.aimfiremarketing.com Hendricks County Excelerate 2011
  26. 26. <ul><ul><li>Many businesses set as a % of sales </li></ul></ul><ul><ul><ul><li>Varies from 2-20% of revenue (gross or net) </li></ul></ul></ul><ul><ul><ul><li>Doesn’t factor in sales goals </li></ul></ul></ul><ul><ul><ul><li>Not accurate </li></ul></ul></ul><ul><ul><li>“ As much as we can afford” </li></ul></ul><ul><ul><ul><li>Risk overspending </li></ul></ul></ul><ul><ul><li>No budget </li></ul></ul><ul><ul><ul><li>Plan on spending a lot of time </li></ul></ul></ul><ul><ul><li>Working backwards from sales goals </li></ul></ul><ul><ul><ul><li>Preferred method </li></ul></ul></ul><ul><ul><ul><li>Determine close rate, # leads, # impressions, cost </li></ul></ul></ul>Setting a Marketing Budget www.aimfiremarketing.com Hendricks County Excelerate 2011
  27. 27. <ul><ul><li>What are your sales goals? </li></ul></ul><ul><ul><li>How long is your sales cycle? </li></ul></ul><ul><ul><li>What is your close rate? </li></ul></ul><ul><ul><li>How many competitors do you have? </li></ul></ul><ul><ul><li>How much brand awareness do you have vs. your competitors? </li></ul></ul><ul><ul><li>Do you have a commodity or a high-ticket item? </li></ul></ul><ul><ul><li>Do you need to fill the pipeline for your sales team? </li></ul></ul>Marketing Budget – Things to Consider www.aimfiremarketing.com Hendricks County Excelerate 2011
  28. 28. <ul><ul><li>Marketing doesn’t always have to be expensive </li></ul></ul><ul><ul><li>Every dollar counts! </li></ul></ul><ul><ul><li>Find innovative ways to promote your business on a shoestring </li></ul></ul><ul><ul><li>Use it to offset more expensive marketing costs </li></ul></ul><ul><ul><li>Ultimate cost = your time (or your team’s time) </li></ul></ul>Cost-Effective Marketing www.aimfiremarketing.com Hendricks County Excelerate 2011
  29. 29. <ul><ul><li>Great for ongoing communication </li></ul></ul><ul><ul><li>Advertise deals / coupons </li></ul></ul><ul><ul><li>Drive to website from email </li></ul></ul><ul><ul><li>Showcase expertise (share information) </li></ul></ul><ul><ul><li>Balance promotional vs. educational </li></ul></ul><ul><ul><li>Costs: Free (MailChimp); $15/mo (Constant Contact); plus time to develop </li></ul></ul><ul><ul><li>Built into some CRM systems (AddressTwo) </li></ul></ul>Cost-Effective Tactic #1: Email Marketing www.aimfiremarketing.com Hendricks County Excelerate 2011
  30. 30. Email Marketing - Example www.aimfiremarketing.com Hendricks County Excelerate 2011
  31. 31. <ul><ul><li>Search Engine Optimization </li></ul></ul><ul><ul><li>Drive ongoing traffic to your site using targeted keywords </li></ul></ul><ul><ul><li>Optimize new site or existing site </li></ul></ul><ul><ul><li>Use as lead generation tool </li></ul></ul><ul><ul><li>Cost: Time to research/implement and track; or paid SEO consultant ($500+) </li></ul></ul>Cost-Effective Tactic #2: SEO www.aimfiremarketing.com Hendricks County Excelerate 2011
  32. 32. Search Engine Optimization - Example www.aimfiremarketing.com Hendricks County Excelerate 2011 Client: Batesville Tool & Die Keyword phrase: appliance metal manufacturing Search results: 1.09 million Rank: #1 Other terms: Mig welding #7, metal stamping #6
  33. 33. Search Engine Optimization - Example www.aimfiremarketing.com Hendricks County Excelerate 2011 Client: Wow Clothing Club Keyword phrase: designer kid’s clothes sale Search Results: 7.3 million Rank: Page 1, #9 (not actively optimizing) Other terms: kids clothing rental #3, children’s clothing rental: #2
  34. 34. <ul><ul><li>Why to use: Objective endorsement; positions as authority; keeps you top-of-mind </li></ul></ul><ul><ul><li>Write and send out press releases to media </li></ul></ul><ul><ul><li>Online wire services (boosts SEO) </li></ul></ul><ul><ul><li>Article writing/submission (local or online) </li></ul></ul><ul><ul><li>Promote news, special events, community involvement, showcase customers </li></ul></ul><ul><ul><li>Place release or coverage in online newsroom </li></ul></ul><ul><ul><li>Re-purpose for marketing/sales kit </li></ul></ul><ul><ul><li>Cost: Time; hiring PR firm ($500+ per campaign) </li></ul></ul>Cost-Effective Tactic #3: Public Relations www.aimfiremarketing.com Hendricks County Excelerate 2011
  35. 35. <ul><ul><li>Client: Wow Clothing Club </li></ul></ul><ul><ul><li>Coverage included: </li></ul></ul><ul><ul><ul><li>Inside Indiana Business </li></ul></ul></ul><ul><ul><ul><li>Current in Carmel </li></ul></ul></ul><ul><ul><ul><li>Chicago Tribune – Sunday feature (syndicated) </li></ul></ul></ul><ul><ul><ul><li>Fox Morning Show with Mike & Juliet – segment “How to live like a celebrity for less” </li></ul></ul></ul><ul><ul><ul><li>ABC news – 30-second segment –major markets </li></ul></ul></ul><ul><ul><ul><li>Wall Street Journal “Get Decked Out by the Week” </li></ul></ul></ul><ul><ul><li>Dollar value of coverage: ? </li></ul></ul><ul><ul><ul><li>½ page, B&W WSJ ad: $96,900 </li></ul></ul></ul><ul><ul><ul><li>Chicago Tribune: $755 per column inch </li></ul></ul></ul><ul><ul><ul><li>Ave. 30-second TV spot on national TV: $350,000 </li></ul></ul></ul><ul><ul><li>My Cost: Time </li></ul></ul>Public Relations - Example www.aimfiremarketing.com Hendricks County Excelerate 2011
  36. 36. <ul><ul><li>Twitter, LinkedIn, Facebook, YouTube </li></ul></ul><ul><ul><li>Post news </li></ul></ul><ul><ul><li>Share stories </li></ul></ul><ul><ul><li>Find, connect, communicate with others </li></ul></ul><ul><ul><li>Follow or become thought leader/expert </li></ul></ul><ul><ul><li>Drive traffic to your blog/website </li></ul></ul><ul><ul><li>Cost: your time (or your team’s/agencies); custom background template ($50+); outsourced: $400/mo+ </li></ul></ul>Cost-Effective Tactic #4: Social Media www.aimfiremarketing.com Hendricks County Excelerate 2011
  37. 37. Social Media - Examples www.aimfiremarketing.com Hendricks County Excelerate 2011
  38. 38. <ul><ul><li>Team up with other businesses who sell to the same or similar markets </li></ul></ul><ul><ul><li>Conduct events/seminars together </li></ul></ul><ul><ul><li>Exchange brochures/business cards for use at point-of-sale (Example: Great Clips/Old Navy – back to school) </li></ul></ul><ul><ul><li>Exchange website links </li></ul></ul><ul><ul><li>Promote in email marketing or direct mail </li></ul></ul>Cost-Effective Tactic #5: Joint Ventures www.aimfiremarketing.com Hendricks County Excelerate 2011
  39. 39. Example - Joint Ventures www.aimfiremarketing.com Hendricks County Excelerate 2011 <ul><li>SEO Tele-Seminar 4/20: </li></ul><ul><li>Joint marketing efforts: </li></ul><ul><ul><li>eNewsletter </li></ul></ul><ul><ul><li>Twitter </li></ul></ul><ul><ul><li>Facebook </li></ul></ul><ul><ul><li>LinkedIn </li></ul></ul>
  40. 40. Example - Joint Ventures www.aimfiremarketing.com Hendricks County Excelerate 2011
  41. 41. <ul><ul><li>Your brand will get you far – Take the time to invest in a good one </li></ul></ul><ul><ul><li>Be consistent in your brand and message </li></ul></ul><ul><ul><li>Weigh the cost of your time when factoring in cost-effective marketing tactics (do you really have the time? What is your time worth? – vs. outsourcing) </li></ul></ul><ul><ul><li>Marketing is only costly if you don’t implement it! </li></ul></ul>Summary www.aimfiremarketing.com Hendricks County Excelerate 2011
  42. 42. Thanks! Susan Young, President AimFire Marketing (317) 858-7669 office (317) 414-3623 cell [email_address] www.aimfiremarketing.com Twitter: @aimfiremktg Facebook.com/aimfiremarketing LinkedIn: Susan Young / AimFire Marketing Hendricks County Excelerate 2011 www.aimfiremarketing.com

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