Essential concepts for starting and growing a business

1. Entrepreneur Express February 23, 2010 MARKETING & ADVERTISINGFor The Entrepreneur Steve Willinger Small Business Marketing Professional Social Media Strategist Keynote Speaker Bristol, TN

2. Today's Agenda • Marketing Today • Social Networking • Planning for Success • Advertising for the Small Business • Developing a Marketing Budget

3. A Few Facts • Advertising is struggling • Expectations are increasing • Competition is everywhere • Time is a scarcity • Technology has become an integral component

4. Marketing is. . . “Everything you do to place your product or service in the hands of potential customers.” • Creating a customer • Keeping a customer

5. Social Networking?

6. Social Media

7. Marketing Plans • Anticipate future events • Define a direction • Create a blueprint

8. Marketing Plans “A written plan turns your marketing into a planned investment rather than a hopeful risk”

9. A Good Plan… • Easy to understand • Clearly links objectives to strategies • Specific and measurable • Flexible • Provides for checkpoints

10. The Marketing Plan • Reality Check * Current economy * Understanding success factors * Challenges your company faces • Customer Analysis * Demographics, purchasing behaviors • Competitive Analysis * SWOT analysis, competitive changes, challenges

12. Measurable

13. Accurate

14. Realistic

16. 7 Step Marketing Plan 1. State the purpose of your marketing. 2. Define your target audience. 3. State customer benefits to emphasize. 4. List marketing objectives & strategies 5. Describe your market 6. Establish your budget. 7. Prepare an Action Calendar.

17. ADVERTISING is . . . The most “convenient” method of communicating to your target audience the benefit of purchasing your product or service.

18. Fact: Most people ignore advertising The key is to ensure that they take notice of yours! HOW?

19. Make sure your company is Recognizable Location Regular advertising will build awareness Constant Focus on Sales and Marketing Community Involvement Public Relations Communication Customer Service

20. Make sure your company is Memorable

21. How Does Advertising Work? Advertising puts your company at the forefront of people’s minds. Advertising either stimulates a purchase or helps to ensure that people know where to go when they do decide to purchase. Advertising also confirms a customer’s decision that doing business with you was a good idea

22. Branding

23. QUESTIONS ASKED . . . • What is it going to cost? • What methods would benefit my business the most? • Meet with a professional

24. Advertising Budget Basics % of lifetime value of customer % of previous annual sales % of desired sales 8-10% average retail (b2c) 4-6% average wholesale (b2b) Marketing & Advertising = Customers

25. “It’s your turn for Comments and Questions” Steve Willinger Small Business Marketing Professional Social Media Strategist (423) 797-0355 smwillinger@gmail.com stevewillinger.com linkedin.com/in/stevewillinger facebook.com/stevewillinger