| Source: | Lateline Business |
|---|---|
| Published: | Thursday, March 31, 2011 11:29 AEDT |
| Expires: | Wednesday, June 29, 2011 11:29 AEDT |
While many small businesses are being left behind the social media bandwagon, some are already using it to drive sales.
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Social media sites are being embraced by big business, while being dismissed as irrelevant by smaller players.
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Where are your customers?
Where can you REACH them most cost effectively?
What are they watching, reading, listening to?
ESTABLISH:
Budget – Marketing Budget as a rough rule of thumb is 10% of Sales
Reach – don’t try to talk with too many prospects / customers
Frequency – make sure to repeat your message frequently enough within the set purchase cycle, e.g.: twice per month
Continuity – and pursue your dialogue for long enough, e.g. 6 month campaign
The top 10 ways of reaching an audience for SME’s are*: (mainly B2B Professional Services and Industrial companies)
*The individual circumstances of each organization may alter the order of this list drastically and the list below is a guide only. As an example, for a small new manufacturing business, Packaging may be their only marketing vehicle and can be used with great success if it is designed correctly.
1. Networking
2. Website / Blog, Online Video
3. Search Engine Marketing
4. Email
5. PR – Traditional and Online
6. Direct Mail
7. Point of Sale (for Retailers and Small FMCG Manufacturers)
8. Packaging
9. Trade Press / Local Paper / Niche Magazines
10. Outdoor and Out Of Home / Ambient
Reaching your target audience with your message remains the most expensive cost of doing business today. Those that do it whilst building their brand are turning this expense into an investment. An investment into the positive perceptions their customers and prospects will retain about their products or services in their hearts and minds.
The internet, application of technology to the science of marketing (email, CRM, etc), media fragmentation and the advent of Social Media have all contributed to lowering the cost of marketing communication, especially for SME’s. It is now easier than ever to reach your target audience, but more challenging to get your message understood, which is why clarity and creativity in marketing are a necessity for your business survival.
Reaching your target audience with your message remains the most expensive cost of doing business today. Those that do it whilst building their brand are turning this expense into an investment. An investment into the positive perceptions their customers and prospects will retain about their products or services in their hearts and minds.
The internet, application of technology to the science of marketing (email, CRM, etc), media fragmentation and the advent of Social Media have all contributed to lowering the cost of marketing communication, especially for SME’s. It is now easier than ever to reach your target audience, but more challenging to get your message understood, which is why clarity and creativity in marketing are a necessity for your business survival.
Success on Linked In and in fact in all Social Media channels relies on the principle of leveraging and building your reputation with your existing professional (and personal) connections as well as building new connections that will also hold you in high regard. Yet many Linked In users fail to do this effectively and damage their reputations because they forget the simple rules of engagement when it comes to interacting with their existing and prospective audience online.
This bog entry was prompted by two Linked In invitations in as many weeks, from individuals that indicated they were friends and gave no specific reason as to why they wanted to connect with me and used standard “templated” invites. In fact, having searched my electronic databases as well as my “super computer” called the human brain I could not remember how or where I MAY have met these two people. These two invites were great examples of what not to do on Linked In. This doesn’t mean that these individuals can’t add value to my network or I to theirs. It does mean that I will wait to accept their invitation until such time that they can illustrate the value in connecting with them. I am confident and hopeful they can do so after reading this.
Below are 5 great articles by Linked In “power users” that discuss the strategies of building your professional network on Linked In as well as the specific do’s and don’ts of Linked In Invitations.
I define Power Users as those that use Linked In to develop and grow their network (and consequently personal brand & business) in a strategic manner – they have objectives, systems and processes. They are thought leaders who have a deep understanding of the medium and the technology and use it to their fullest advantage.
Here is my long held view and summary of the below articles:
1. DO NOT write anything that you wouldn’t otherwise say in person, on the telephone or in an email. You wouldn’t call up anyone, regardless of your relationship to him or her and utter the standard Linked In template words “join my network” as your opening remark! Then why do so many people do so in the medium of Linked In?
2. Remember that everyone listens to radio W.I.I.F.M – What’s In It For Me? Have a compelling reason for connecting / sending an invitation (in marketing terms – your offer and call to action) or use one or multiple principles of persuasion. As you read the below you will see that appealing to one’s ego in the form of flattery works as well!
Prevalent attitude to accepting and refusing Linked In invitations as well as some great tips on social media networking etiquette:
The official Linked In view and procedure on “how and who to connect to” can be found here:
Perception is Reality. Make sure perceptions of who you are positive and profitable!
Gene Stark
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