Eight Secrets from a Serial Blogger

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Have you been thinking about blogging, but are concerned whether your writing skills will translate into effective online communications?

Increase your chances of success in getting your message to the right audience by avoiding the mistakes of others. This article offers eight simple suggestions its authors learned in the preverbal “school of hard knocks”.

Here they are:

1. Stick to a schedule. The correct blogging frequency is whatever connects with your audience. For some blogs that might be daily. For others, once a month is sufficient. The optimal blogging frequency is not critical. What is critical is to decide on a schedule, communicate it to your readers and stick to it! Avoid the temptation to over-commit. While most bloggers enjoy writing, it can be grueling.

2. Expand and enhance. Supplement your usual content by periodically sharing relevant quotes, articles and tips from others. You can also try using guest writers, treating your readers to different areas of expertise and points of view. A generous introduction to your guest author may result in them reciprocating on their blog, further expanding your following.

3. Keep posts short. Readers are looking for tidbits of actionable information, not detailed research. Keep posts short, preferably under 600 words. The average American reads less than 300 words per minute. Studies suggest 65% of visitors spend less than 2 minutes on a website. Therefore, an entry longer than 600 words will not be read in its entirety, if at all.

  • A better alternative to lengthy articles is to split them into multiple parts, posting them in consecutive entries. Begin each post with a review of what was discussed in the previous entry, and end with what to expect in your next post and when it will be shared.

4. Promote your blog. Add your blog’s web address to business cards, print media ads, letterheads, email signatures and so on. Adding a Quick Response Code to business cards and other medium is gaining popularity. A QR code allows Smartphone users to find your blog easily.

5. Use social media. Post summaries of blog posts on Facebook, Twitter, LinkedIn, etc. Exercise care to comply with each platform’s unique character limitations.

  • Since you will always end with a hyperlink to your blog, use a free URL shortener like https://bitly.com/ if pressed for space.
  • Post blog entries on SlideShare or other article marketing sites by uploading a pdf file. The last paragraph should be a brief “About the author” with a hyperlink to your blog.
  • Blog posts can be featured in your monthly newsletter to customers and friends.

6. Support online sharing. Add plug-ins or widgets on your blog to promote article sharing through Facebook, Twitter and other social media vehicles you believe are likely to help capture your target market. Allow readers to bookmark your URL to their list of favorite sites with the click of a button.

7. Encourage feedback. Always thank readers who post comments. Be respectful of opinions and suggestions, even if you disagree with them. While it is perfectly appropriate to delete spam (an inevitable byproduct of successful blogging) or comments with inappropriate language, deleting reader comments simply because you disagree discourages feedback. Periodically end posts by asking readers for comments, suggestions and ideas for future articles.

8. Don’t give up too quickly. Some experts believe it takes about 100 posts before you begin to build a following. Most bloggers become discouraged and give up before reaching that milestone.

© 2013 by Dale R. Schmeltzle

You Can Count on a Guy in a White Hat

whitehatAs an entire generation who grew up watching Gun Smoke, The Lone Ranger and a long list of other television westerns knows, good guys always wore white hats!

One of the greatest Hollywood clichés of all times, it is deeply ingrained within each of us that you could count on a stranger in a white hat! They were sure to be honest, kind, generous, courageous, moral and chivalrous.

That leaves the other guys, the ones in the black hats. Just as good defines evil, they were the anti-hero of every storyline, the exact opposite of guys in white hats. A man in a black hat was surely dishonest, cruel, self-centered, cowardly, immoral and boorish. Good guys and bad guys were always on opposite sides of an issue. Fortunately, good always triumphed in the end.

So it is not surprising that when it came time to pick names for two broad categories of search engine optimization (SEO) practices, a baby boomer somewhere choose white hat and black hat to describe the opposite ends of a long spectrum of internet marketing techniques and philosophies.

The stakes are high in this modern day gunfight. Fair or not, a potential customer who has never heard of your company has no choice but to equate your search engine results and the quality of your content with the prominence of your company among your peers and the value of your products or services!

A study of December 2010 Google searches for B2B and B2C businesses found the top 3 search engine rankings got 60% of all click throughs, with the first position enjoying a click through rate (CTR) of 36.4%. Page one listings got 8 times more clicks than page 2. CTR differences by ranking were even more dramatic for key words with more than 1,000 searches per month.

What then are the distinguishing characteristics of these opposing marketing camps? They hinge on the answer to a single question. Does the marketer play by the largely unwritten and frequently changing rules of the major search engines (Google, Yahoo and Bing control over 95% of the market) or not?

Just like the old Code of the West, white hats follow the rules. They focus on engaging and informing readers rather than manipulating search engine algorisms. Their procedures include writing key word rich text (without meaningless repetition), link building and paid advertising using pay per click ad words.

Black hats still refuse to play by any rules. Their techniques include email spam, keyword stuffing, article spinning (posting substantially similar content in multiple locations) and using hidden text to trick search engines.

What are the rewards for playing by the rules of this 21st century Code of the Internet? White hat marketing can be expected to produce slower but longer lasting organic search rankings. Black hat techniques will likely eventually be penalized by search engines, reducing rankings or eliminating the listing from their database.

What color is your hat?

© 2013 by Dale R. Schmeltzle

Too Foolish To Fail – Part 2

On Friday, I began a two-part post on Mark Zuckerberg’s three mistakes in starting Facebook. Mistake # 1 was not coming up with an original idea, but merely improving on other people’s ideas. It turns out that was not a mistake after all.

Today, I will analyze his other mistakes, namely:

2. He waited too long to “cash out.” He should have jumped at the first opportunity to raise some serious “beer money” like a normal college kid. If only he had, he would be a millionaire today!

3. He failed to exercise basic common sense! Anyone smart enough to get into Harvard should know that a dream of launching a worldwide business to redefine a major facet of society is destined to break your heart. Homer Simpson said it best, “Trying is the first step toward failure!”

Let’s analyze these missteps.

I am frequently surprised at the short-term vision baby boomers adopt in their business planning. I often encounter entrepreneurs who hope to build a successful business and “cash out” in five years or less.

This view is a distraction from your value proposition, the very reason you went into business in the first place. Think about it. Customers are at best indifferent to your retirement plans. Would you pick a new dentist if you knew she planned to sell her practice in two years?

It also introduces a bias that will slant business decisions in favor of maximizing short-term cash flows at the expense of building long-term value. For example, owners will forego investments in customer service and product design if payoffs extend beyond their timeline. This situation is analogous to watching a runner round the bases as you chase a fly ball. There are already plenty of opportunities to falter in business without unnecessary distractions. Do not take your eye off the ball!

It seems counterintuitive that a college student, given the opportunity to finance what would have been a carefree life style, would follow a business plan that extended beyond the next frat party. To his credit, now 27-year-old Mark Zuckerberg has resisted the temptation to monetize his 24% stake in Facebook for 7 years. Instead, he has continued to lead the company according to his vision.

It is hard to argue with his success. Earlier this year, Goldman Sachs valued the private company at $50 billion. Mark kept his eye on the ball, even when faced with what would have been an irresistible temptation for us mere mortals. Cashing out four or five years ago would have cost him billions.

You were right, Zuck. My partner and I were….we were….well any way, you were right. Gloating is so not cool, Mark!

That brings me to his third mistake. Mark should have listened to the voices in his head that are quick to point out all the reasons why his grand plans would surely fail.

Abraham Lincoln once described a general who was unwilling to make decisions under pressure as “acting like a duck that had been hit on the head.” Fear of failure is a powerful motivator. It causes some of us to avoid decision making altogether.

Decision making is a cognitive process involving logic, reasoning and problem solving skills. Unfortunately, each of us enters that process with certain preconceived biases. We are often quick to listen to any voice that supports them. It is normal to exhibit a reluctance to move off those biases, even if faced with new facts, circumstances or opportunities. Therefore, the safe decision (i.e., to spend our career as a corporate wage slave rather than launch a new venture) is often the default decision.

Samuel Clemmons once said, “It’s not what you don’t know that will get you in trouble. It’s what you know for sure that just ain’t so.”

To his credit, Mark Zuckerberg did not let what he did not know about launching a business get in the way of his success. His vision was inspiring; his execution was courageous.

In the final analysis, my partner and I could take a lesson from him. So can you!

 © 2011 by Dale R. Schmeltzle

SLIDESHARE, HOW DO I LOVE THEE? (PART 3)

Earlier this week, I began a three-part series on SlideShare, a free online slide hosting service. Part 1 discussed the first three of ten important things you should know about SlideShare, its demographics and norms. Part 2 explained how to embed YouTube videos and how to access SlideShare remotely. As promised, I have saved the best for last.

Here are today’s suggestions.

9. SlideShare provides truly excellent support through LinkedIn, Twitter and Facebook. I have promoted several files through my LinkedIn groups. I have twice received emails saying, “XYZ file is being talked about on LinkedIn more than anything else on SlideShare right now. So we’ve put it on the homepage of SlideShare.net (in the “Hot on LinkedIn” section).” In both cases, view counts increased dramatically, if briefly.

Another benefit of tweeting SlideShare files is the potential of promoting your brand on a worldwide basis through Paper.li. It takes Twitter streams and extracts links to news stories and videos. It then determines which stories are relevant based on criteria the user establishes. It creates themed pages based on specific topics using hashtags. Paper.li subscribers distribute their daily or weekly publication as a unique newspaper, written from a perspective of what is of interest on the Web that day. Every Twitter user is therefore a potential editor. Their followers (including CFO America on several occasions) serve as unpaid journalists. To view a sample of Paper.li, read The CFO America Daily at http://paper.li/CFOAmerica/1300800014.

10. Finally, the number one reason for my love affair with SlideShare is what I call the “60 minute Twitter boost” phenomena. To experience it for yourself, open your file on the “My Uploads” tab and click on the Twitter icon. The following tweet will appear, “Check out this SlideShare document: The Title of Your SlideShare Document” along with a shortened URL. Modify the tweet with a few appropriate hash tags. Without fail, the file experiences a marked increase in views and downloads for about an hour. In my experience, views have jumped up to 35 times their daily average. I have tweeted friends’ documents with identical results. The boost trails off quickly, and totally evaporates within 24 hours. However, it can be extended with multiple tweets over the course of a day. Use different hash tags for each tweet.

In closing, I offer my apologies to Victorian era poet Elizabeth Barrett Browning for the shameless exploitation of her classic poem. Imagine how quickly it would have gone “viral” if only Ms. Browning had the same access to SlideShare.net that you and I now enjoy.

Go forth and share!

SLIDESHARE, HOW DO I LOVE THEE? (PART 2)

On Monday, I began the first of a three-part article. It confesses my undying love for SlideShare, a free online slide hosting service. Part 1 discussed the first three of ten important things you should know about SlideShare, its demographics and norms. Today, Part 2 will explain how to embed YouTube videos and how to access SlideShare remotely.

Here are today’s suggestions.

4. SlideShare allows you to embed YouTube videos into slide presentations. Simply click the “Edit / Delete” button for the appropriate PowerPoint file on your “My Uploads” page. Next, click the “Insert YouTube Videos” tab at the top of the screen. Then paste the URL and select where in the slide sequence the video will appear.  Finally, click the “Insert and Publish” button. You are finished! Repeat the process to insert additional videos into the presentation. If you change your mind, videos are removable. Although I have not experimented with the option, you can also add sound by inserting an MP3 file. Video and sound cannot be inserted into pdf documents.

5. SlideShare is accessible by mobile devices at http://m.slideshare.com. This allows travelers to search, view and download presentations and documents. Bookmark the site for faster access.

6. Item #5 illustrates another endearing characteristic. By uploading Word documents as pdf files, I am using SlideShare as an article marketing service like EzineArticles. Although larger, EzineArticles has some complex rules about including URLs. I have failed their submission approval process on several occasions. The same is true of GoArticles.com. I have never encountered this issue with SlideShare. Furthermore, Twelve Things I Learned about SlideShare has received over 3,700 views on SlideShare compared to eight on EzineArticles and three on GoArticles during comparable timeframes. SlideShare’s marketing tag line should be, “No restrictions, just results!”

7. While I have not seen any definitive statistics, most seem to indicate the average time a viewer spends on an Internet page is only two to three minutes. That has significant implications to the amount of content presented. The average American adult reads between 250 and 300 words per minute. SlideShare viewers average seven to eight minutes per visit. That suggests that users are more likely to read longer files in their entirety.

8. Keyword tags help people quickly find information that interests them. SlideShare searches are keyword driven. They allow you to enter up to 20 tags per file. The top tags in 2010 were forecast, market, statistics, business, trends, industry, research, SWOT (an anachronism for Strengths, Weaknesses, Opportunities and Threats), report, company profiles, social media and marketing. Type and spell check your 20 tags in Word. Then paste them into SlideShare when you upload your file.

Saving the best for last, on Friday I will reveal the secret of the “60 minute Twitter boost.”

© 2011 by Dale R. Schmeltzle

SLIDESHARE, HOW DO I LOVE THEE?

I recently discovered SlideShare.net, a free online slide hosting service. It was love at first sight! I wrote an article and a series of blogs (or love letters if you prefer the romance theme) titled Twelve Things I Learned about SlideShare.

SlideShare returned my affections! They featured the article on their home page, quickly gathering over 3,500 views. The article is at http://slidesha.re/kxG4So and on CFO America’s blog beginning at http://bit.ly/jcE8tu.

Like any true romance, my love for SlideShare has only grown stronger since we first met. Therefore, I decided to write a second article on new ways I have learned to use this powerful tool to increase your Internet footprint.

Today, I will share the first three of ten important things you should know about SlideShare. They address SlideShare’s demographics and norms. Wednesday will explain how to embed YouTube videos and how to access SlideShare remotely. Saving the best for last, on Friday I will reveal the secret of the “60 minute Twitter boost.”

Now, let me count the ways (last time, I promise).

  1. SlideShare has over 100 million page views per month. It has 10,000 new uploads every day. They are one of the top 200 websites in the world. According to web traffic monitor Alexa, users offer some attractive demographics. When compared to the general Internet population, 25 to 34 year olds and people with graduate degrees are over-represented. Their users are also disproportionately childless, Hispanic and visit the site while at work. Approximately 63% live in North and South America, 21% in Europe and 14% in Asia.
  2. SlideShare is primarily for PowerPoint presentations and pdf documents. The average presentation is 7.9 megabytes in size. The average document is 1.5 megabytes. With the exception of PowerPoint presentations saved as pdf documents, my files are all 300 kilobytes or less. They uploaded in seconds. While I have shared a 58 megabyte PowerPoint presentation, it took forever. I now save and upload PowerPoint files as pdf documents.
  3. SlideShare reports that the median number of slides is between 10 and 30 per presentation. Over 75% of presentations are 30 slides or less. Only 8% exceed 50 slides. There are some apparent cultural differences in this area. English based presentations average only 19 slides, Spanish 21. The Japanese lead the pack with 42 slides. Presentations average 24 words per slide and 19 images per file. The most popular fonts are Helvetica, Arial and Times New Roman.

Wednesday’s blog will present some actionable tips and suggestions. I look forward to our further discussions. In the meantime, please continue to post your questions and comments.

© 2011 by Dale R. Schmeltzle

Do you really need to be on Facebook?

A friend recently asked me why a small business needs a social media presence. The first question is whether a small business needs a social media presence. The short answer is: it depends! More specifically, it depends on your marketing objectives and target audience. Let’s discuss both.

The ultimate purpose of a marketing initiative is to influence consumer behavior in ways that accomplish your business goals. What exactly do you want to accomplish? Define your goals by listing the results you hope to accomplish. Desired results may include multiple objectives, including:

  • Business production
  • Brand awareness
  • Reduce marketing costs
  • Consumer education
  • Lead generation
  • Establish expertise
  • Specific promotions

New business production is often difficult to achieve using any strategy. I have spoken with many professionals who do not view social media as a source of new customers. That mirrors my experience. To be fair, I have not found the traditional web a meaningful source new business either. I believe that having a website is now a prerequisite for credibility. I suspect it is often true of Facebook and other social media sites as well. On the other hand, I know insurance agents, tax specialists and social media vendors who generate significant business through social media.

Again, business production is only one of many marketing goals. I recently spoke with an account executive at a major brokerage. He wants to increase his Internet footprint. His assumption is that the odds of a prospect becoming a client are proportional to the number of hits when they search his name. The broker wanted to know how many hits “CFO America” generates. The answer was 7.7 million. While nine of the first 10 were my company, many were not. However, if only 1% is, it far exceeds several regional and national competitors. That exposure results from an extensive social media effort. It is also consistent with an April 2010 survey by Michael Stelzner of SocialMediaExaminer.com. He found 85% of participants reported social media generated exposure for their business.

Two other marketing goals supported by social media are search engine results and cost reduction. I spent $10,000 developing a traditional website. I was promised a “top 3” ranking for the phrase “fractional CFO.” While it accomplished its goal, I am still waiting for the phone to ring! Very few people search that phrase, largely because they do not know what it means.

Could I have used social media to boost search rankings and save money? The Stelzner survey found 54% of participants thought social media marketing improved their search rankings. It also found 48% experienced marketing expense reductions. I am now using blogging, Facebook, Twitter and other sites to educate the small business community on what a fractional CFO is and how it can benefit them. Since I cannot afford a national print media campaign, this is the only way I know of to accomplish my goal.

The second area to explore in evaluating the need for a social media presence is your target market. The question to ask is where potential customers turn (Internet, newspaper, Yellow Pages, etc.) to learn about your products or services, and businesses that offer them. The answer is largely dependent on customer demographics like age, education, income level, gender and so on. The statistics are easily summarized. If your marketing “sweet spot” lies in young, educated, and/or high-income consumers, you need social media. Using Facebook’s active U.S. users as a proxy for all of social media, 80% are under age 45, 66% have at least some college education, and 67% have incomes over $50,000. U.S. active Facebook users (like many social media sites) exhibit a bias in favor of women. However, on a worldwide basis, Facebook has slightly more men than women. Visit www.alexa.com to find matches for your target market.

Does your business need a social media presence?

That is a key marketing question, one you must ultimately decide on your own. I hope you will base your decision on an objective analysis of your marketing goals and target audience. I now end by confessing the obvious. I love social media marketing! I am excited about the possibilities it offers small and medium-sized businesses to communicate their message across a wide spectrum of prospects. Having said that, it is difficult to conceive of goals and audience demographics that are not supported by social media marketing. It is impossible to conceive of a more cost-effective strategy.

Do You Like Me?

Sally Field’s acceptance of the 1984 Oscar for Places in the Heart is a classic among awards ceremony speeches. It included the emotional proclamation, “You like me, right now, you like me!” In a nutshell, all-grownup Gidget was bemoaning that she “didn’t feel the love” when she won her previous Oscar in 1979. Had Ms. Field given that speech today, at least 750 million of us would immediately assume she was somehow referring to her Facebook Fan page.

A Facebook “like” immediately reflects on that person’s page and exposes your product or service to their contacts. Your Facebook fans are essentially providing free advertising and their personal endorsement.

The  simple act of clicking a button also allows fans to post comments on your site unless blocked by your security settings.

Social media experts pay a lot of attention to Facebook likes and the characteristics of typical Facebook fans. For example, studies show that while the average Facebook user has about 130 friends, “likers” average closer to 300. They are 5 times more likely to click on external links. A study by media consultant Syncapse found that Facebook fans spend $71.84 more per year on brands than non-fans. Additionally, they are 28% more likely to continue using that brand.

The net result of all this is that an entire cottage industry has sprung up around helping small businesses increase their Facebook likes. As an internationally recognized champion of low-cost marketing alternatives (a slight exaggeration, but I sure hate spending money unnecessarily), regular readers know how I feel about that!

Therefore, I thought I would share a simple way of generating likes and page views without spending scarce marketing resources. Here it is:

Using your Facebook business account, like popular national or local Fan pages. Then post supportive comments about their product or service. A little light humor will probably attract additional attention. However, avoid posting a blatant advertisement for your Facebook page.

Let me give you a specific example of this tactic in action. This morning I posted, “We’ll be opening our first Diet Cokes long before Dallas thermometers top 100 for the 26th straight day today!” on Coke-Cola’s Fan page.

For a brief period (until pushed off-screen by newer comments), any of Coke’s 32.9 million fans who visited their site saw my innocuous comment, along with CFO America’s logo. Curious viewers could then click the logo to go to http://www.facebook.com/CFOAmerica, exactly where I want them!

You can find a list of the top Facebook Fan pages at http://statistics.allfacebook.com/pages. There are currently 27 sites with over 25 million fans each. There are almost 2,900 pages with 1 million or more fans. Most will allow you to comment on their posts. Some will allow you to post your own comment. Those Fan pages are marketing gold mines!

Over the past month, I have posted similar comments on Fan pages of local amusement parks, restaurants, hotels and so on. Since I began this tactic, new likes have increased 420% and active users (defined as the number of people who have viewed or interacted with my page) 43%. The following graph shows user activity over a two-week period. Notice the activity on July 19, a day when I was especially active in my posting efforts.

As the 17th century proverb said, “The proof of the pudding is in the eating.”

Have a great weekend, and we’ll meet again on Monday.

The Horse Comes Before the Cart, Part 3

This week I have been emphasizing that the successful implementation of any strategy requires it be executed within the framework of a comprehensive marketing plan. Diving into a marketing campaign without first having a plan of where you are going and what you hope to accomplish is putting the cart before the horse, and makes you vulnerable to “tactical soup.”

Today I will conclude this three-part series by discussing the monitoring and evaluation of your plan.

8. Sadly, the critical step of monitoring results is often omitted by small businesses. Don Bradley and Chris Cowdery of the University of Central Arkansas conducted a study titled Small Business: Causes of Bankruptcy. They found that 58% of businesses that filed for bankruptcy admitted to doing “little to no record keeping.” Without an adequate accounting system, a business cannot fully understand its revenue cycle nor have a true picture of its marketing costs. You cannot manage what you cannot monitor, and you cannot monitor what you do not measure.

Measure, monitor and manage, in that order!

Include hard and soft-dollar components when measuring marketing costs. A $3,000 invoice for a newspaper ad is an obvious cost. However, a portion of the salary and benefits of the employee who spent four days writing and editing the copy is also a marketing cost. Do not fall into the trap of thinking that if a tactic has no hard costs (as with many Internet tools) that it is cost-free. The risk of this mindset is skipping the evaluation phase of the planning process. Time is a scarce resource in business. The opportunity cost (measured by what else you could be doing) of your time has value. It must be examined and justified in light of the marginal revenue it generates.

9. Finally, at the risk of over-simplification, the evaluation stage is largely a matter of comparing actual costs and marginal revenue to the expected numbers. However, knowing things like who responded to your promotion and whether they bought only sale items or made additional purchases are also important. This is a time to be objective and cold-blooded! If a marketing tactic exceeded cost expectations or failed to generate the required sales, cross it off your list. Never fall in love with an idea.

As you construct, implement and fine-tune your marketing plan, remember that it is a management tool. It is a not weapon to punish yourself or your employees. No one succeeds all the time; we often fail the first time! If costs exceed the benefits, take a page out of Thomas Edison’s playbook. When challenged about experimenting with over 10,000 different substances before picking a carbon filament for his light bulb, he replied, “I have not failed. I’ve just found 10,000 ways that won’t work.”

Learning that something will not work is valuable information!

Let’s talk more on Monday. Have a great weekend!

© 2011 by Dale R. Schmeltzle

The Horse Comes Before the Cart, Part 2

This week I am discussing the important topic of determining your marketing strategies within the context of a comprehensive plan. Launching a marketing campaign (even if it does not involve any hard costs) without a plan is “putting the cart before the horse.” On Monday, I presented a framework for constructing your marketing plan. It begins with defining your goals. Today I will share additional thoughts on clarifying your goals and the tactics to accomplish them.

3. Consider financial and non-monetary objectives. Examples of non-monetary objectives include things like closing percentages, page hits and customer traffic patterns. Be specific! A goal of increasing sales is neither constructive nor measurable. A goal of increasing sales 5% per month for the next six months through a combination of a 4% increase in customer count and a $17 increase in average dollars per sale is.

4. Business goals are rarely accomplished in a straight linear fashion. For example, a 24% annual sales increase is not going to come in equal increments of 2% every month. Your marketing strategies are going to take time to produce results. They are affected by existing sales patterns and seasonality that every business experiences. Establish a realistic timeframe for each goal, with appropriate interim benchmarks to measure short-term progress toward long-term goals. That allows you to take timely corrective action or adjust goals as needed.

5. As you define goals and timeframes and the strategies and tactics to accomplish them, be aware of conflicting goals. Here is a simple example. What is the first thing most retailers do when they want to increase revenue? They hold a sale. In other words, they cut prices! Obviously, the hope is that increased customer traffic will more than offset the lower prices. However, it is still a conflict. Here is another example. Assume you want to increase the average customer purchase in your shoe store from $58 to $75. You therefore introduce a new line with a higher price point. Most customers are only going to buy one or two pairs of shoes. Therefore, while revenue from the new line will go up, sales of cheaper lines will probably go down. Conflicts are not necessary bad, and are often unavoidable. My only point is you need to look at the whole picture. Recognize and manage conflicting goals in your market plan.

6. Specify the purpose or desired result of every marketing tactic. In other words, what action do you hope clients or prospects will take because of a marketing initiative? Your definition of purpose establishes the basis of measurement and encourages accountability. The desired result may include multiple objectives, including the following:

  • Business production
  • Generate new leads
  • Brand awareness
  • Introduce a new product or service
  • Advertise a specific sale or promotion
  • Establish your expertise
  • Increase customer traffic
  • Consumer education

7. Tactics rarely operate in a vacuum. You can sometimes leverage one against another. For example, relationships developed online can be taken offline. A social media connection is a far better sales prospect if you subsequently call or meet face-to-face. Similarly, you might precede a direct mail campaign with a subject matter media blitz via article marketing, blogging, email newsletters, press releases and so on.

I will conclude this topic on Friday, when I will discuss step 4 of your market planning process, monitoring costs and results.

© 2011 by Dale R. Schmeltzle

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