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Simple Steps for
Growing Your Business
Marketing Your Business
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The SCORE Foundation
would like to thank
for showing their support of America’s small businesses
by sponsoring this series.
The content provided in the Simple Steps for Growing Your Business
materials is intended as a business resource only and does not guarantee a
successful outcome when applied to individual business use.
To find additional resources on growing your business,
visit www.score.org and www.openforum.com
A Special Thanks to Our Local Sponsors
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Classroom Safety – Argosy U
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Emergency
Exits
Restrooms
Please do
not wander
around the
building!
You are HERE
Classroom Safety–ComCenter
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Emergency
Exits
Restrooms
You are HERE
Please do
not wander
around the
building!
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About SCORE
• Successful and experienced business
owners and executives acting as
volunteers
• Free mentoring:
Douglas S. Cavanaugh
• One-on-one
• E-mail
• Signup on our website – Mentoring Tab
• Seminars and workshops
• Resources for small business:
manasota.score.org
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Assessing Your Business
If you have not looked at the SCORE Business Needs
Assessment, it is in your packet!
It will help you assess the current state of your
business in 5 key areas:
1.Management
2.Marketing
3.Sales
4.Finance
5.Operations
Review with your mentor to help you:
Decide what additional workshops to attend Develop
a customized business improvement plan
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Workshops - Business Focus Areas
Customers – Impacted by All Functions in Your Business
Marketing Your Business
Marketing
Sales
Growing Your Sales
Customer Service
Managing Operations
Managing Your Time/
People Resources
Financial Management
Service Delivery
Purchasing / Manufacturing
Distribution
Human Resources
Finance
Business Owners / Management - responsible for Business Performance
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During this workshop we will discuss:
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Marta E. Maxwell
Identifying your marketing goals
Evaluating your marketing options
Effective advertising methods
Using social media
Online marketing methods
Public relations strategies
Using event marketing
Using cause marketing
Retaining customers
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Let’s Get Started
Briefly tell us about you:
•Your name
•Your business
(30 second “elevator” speech)
Katrina Markoff
•What you hope to achieve during and
after this workshop
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Marketing
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Marketing
What is Marketing? The 4P’s
Product / Service
Pricing
Promotion
Place (Distribution)
Karen Bevels
Marketing Examples / Functions
Market Research
Merchandising
Advertising
Product Planning
Sales Promotion
Public Relations
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Marketing
Today, think about . . .
Where does your business stand today?
Where you need to take it?
Karen Bevels
How do you get there?
. . . as we go through the workshop
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Identify Your Marketing Goals
Identify Your Marketing Goals
Have Your Business Needs Changed?
Karen Bevels
• Target customers
– Existing customers
– New customers
• Product or service mix
• Pricing approach
• Promotion Success
• Budget
• Sales channels
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Identify Your Marketing Goals
Market Research
Understand your target market
• Size
• Income level (for consumers)
• Sales - Business to Business (B2B) and Business to
Consumer (B2C)
Surendra N. Kumar, Ph.D
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• Purchasing habits
• Demographics
• Purchasing channels
• Geographic locations
• Industry / Geo-Political Trends
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Identify Your Marketing Goals
Market Data Sources
• Industry analysis using the NAICS number to find info about your business
segment (North American Industry Classification System)
•Website searches
•Customer surveys
SurveyMonkey.com, Zoomerang.com
•Social media
Facebook, LinkedIn, Twitter, YouTube…..
•Focus groups
•Personal Contacts
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Identify Your Marketing Goals
Market Data Sources
•Trade associations
•Census data
•American FactFinder (http://factfinder.census.gov)
•EconomicIndicators.gov
•Fedstats.gov
•National Bureau of Economic Research (www.nber.org)
•Harris Infosource (www.harrisinfo.com)
•Hoover’s (www.hoovers.com)
•ThomasNet (www.thomasnet.com)
•Public Library
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Identify Your Marketing Goals
Understanding Market Share
Market
Share
Portion of
the Market
That Your
Business
Obtains
• Measured by dollars, units or percentage
• Monitor market share regularly
• Adjust marketing strategy accordingly
Identify Your Marketing Goals
Pricing Decision Approaches?
You can vary prices in accordance with the market’s
expectations to achieve your profit goals
Where do you stand now?
Market – Premium – Discount
Do you have changes in your costs?
Do you have pricing power?
Do you have alternatives? – packaging, features, services, etc
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Identify Your Marketing Goals
Is Your Brand Clear?
Branding is not the same as marketing.
Branding is the image, logo and positioning
of the product or service.
Douglas S. Cavanaugh
Three steps to brand creation:
1. Identify unique selling proposition
(differentiation)
2. Understand target market
3. Communicate brand consistently
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Identify Your Marketing Goals
Competitive Analysis
Analyze the marketing methods or strategies used by
your competition.
What is working for you and what is not?
Would similar methods work for you?
Are there niche openings to exploit?
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Exercise 1 – Target Market Assessment / Goals
Using the Worksheet in your folder, fill in your EXISTING target
market and then potential NEW target markets you might pursue for
growth
Fill-in your thoughts about pros and cons of each area list below:
Customer Demographics
Customer Location(s)
Customer Spending Habits / Behaviors
Distribution Channel
10 minutes to work and 10 minutes to discuss
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Exercise 1 – Target Market Assessment / Goals
10 minutes to work and 10 minutes to discuss
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Your Marketing Options
Your Marketing Options
Is It Right for You?
Not every marketing strategy is right for every business
When evaluating the options, ask:
• Will this help achieve my goals?
• Will this reach my target customers?
• Does this fit my budget?
• Do I have adequate staff to implement?
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Your Marketing Mix Options
Marie Seipenko
Promotion Topics:
Advertising
Online Marketing
Social Media
Public Relations
Event Marketing
Cause Marketing
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Advertising
Advertising
•What are the desired outcomes of
advertising?
–Builds awareness
–Product / Service information
–Helps customers find you
–Builds credibility
–Drives sales
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Advertising
Traditional Advertising Options
• Print (newspapers, magazines,
community publications)
• Radio
Erma Kubin-Clanin & Dr. Rene Clanin
• TV
• Direct mail (postcards, letters)
Advertising
Online Advertising Options
• Every business should have a web presence
• Web pages
• Link exchanges
• E-mail newsletter advertising
• Pay-per-click (PPC)
• Banner ads
• Web marketing options continue to evolve
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Online Marketing
Online Marketing
Benefits of a Business Website
If you don’t have a web presence, you need one!
• Online company / product information
• Customer service
• Additional sales channel
• National / global reach
• E-commerce capability
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Online Marketing
Developing an Effective Website
Determine Goals
Overall Business
Strategy
Overall
Marketing
Strategy
Development
Requirements
To include:
Ease of use, sales,
customer service,
branding, search
Online Marketing
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Elements of Your Website
• Domain name or URL (www.yourbusiness.com)
• Web hosting service
• Business goals for your website
• Website design
•Company email addresses ([email protected])
Company and employees
Gmail,Yahoo, or AOL email addresses do not convey a “business” message
Many providers offer package options that include everything:
• GoDaddy.com
IMSMB.com
• NetworkSolutions.com
Web.com
• Hosting24.com
Online Marketing
Principles of Web Design
• User-focused
• Simple to navigate
John Christakos, Maurice Blanks & Charlie Lazor
• Direct users to take action
• Privacy Policy
• Consistent with your marketing message
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Online Marketing
Search Engine Optimization (SEO)
SEO = driving traffic to your site via organic
search results
• Create quality content
Dr. Lynn McMahan
• Use targeted keywords
• Measure results
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Online Marketing
Web Analytics
Web analytics can measure:
• Number of visitors
• Average visit length
• Most popular site entry pages
• Where users come from (sites or search engine phrases)
• Conversion rates
Use analytics to determine if your site is achieving your goals
Google and Bing offer free analytics
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Online Marketing
E-mail Marketing
Ways to get e-mail addresses:
• Opt in
• Sign up in-store
• Offer incentives
• Barter or buy lists
Rupa Bihani Shah
E-mail examples:
• Newsletter (monthly, weekly, daily)
• Sales or specials: Weekly or as needed
• Announcements
• Event invitations
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Online Marketing
Legal Issues of E-mail
LEGAL ISSUES
RESOURCES
CAN-SPAM Act requires:
 Identify yourself
 Identify as an ad
 Physical address
 No deceptive subject
lines
 Opt-out options (double
opt-in not required, but
preferred)
 Unsubscribe requests
Using an e-mail service can
help:
 Benchmark E-Mail
 Campaigner
 Constant Contact
 iContact
 Microsoft Office Live
Small Business E-Mail
Marketing service
(smallbusiness.
officelive.com)
Visit the FTC website (www.ftc.gov/spam) for information and
resources on legal issues
Online Marketing
Mobile Marketing
Mobile marketing = using cell phones and other
mobile devices to market to customers
•More than 20 percent cell phones are
smartphones** and the percentage is growing
Joe Jackson
•Good for local businesses
•Reach customers on the move
**Source: ComScore
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Online Marketing
Mobile Marketing
•Methods
–SMS or MMS marketing
–Mobile banner advertising
–Mobile local search – geo location
–Mobile apps
–Mobile paid search
Is your website mobile-friendly?
Check at www.mobiReady.com
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Social Media Marketing
Social Media Marketing
Social Media and Your Business
Social media facts:
Fastest-growing communication technology
among consumers and business users
Doug Zell
Projected 3.6 billion users by 2014*
*Source: Radicati Group
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Social Media Marketing
Marketing With Facebook
Users:
• Biggest social network (over 500 million users)
• Wide age range
• Majority women
Good for:
• Consumer businesses
• Products that inspire “fans”
• Building community
• Targeted ads
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Social Media Marketing
Marketing With LinkedIn
Users:
• Professionals
• Focused more on individuals, less on companies
Good for:
• Business-to-business (B2B) contacts
• User groups for market intelligence
• Getting known as an expert
• Prospecting for customers or employees
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Social Media Marketing
Marketing With Twitter
Users:
• 8 percent of U.S. Internet users*
• Young, affluent, urban
• Influencers
Social Media Marketing
Good for:
• B2B and B2C
• Timely news/deals
• Mobile users
• Brand building
• Promotions
*Source: Pew Internet and American Life Project
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Social Media Marketing
Getting Started with Ratings and Reviews
Bing Local
Insider Pages
RatePoint.com
CitySearch
Local.com
Yahoo! Local
Google Places
Merchant Circle
Yelp!
Claim your listing and optimize it with:
David Lomakin
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Photos
Description of business
Maps/directions
Coupons/special offers
Tracking/analytics
Social Media Marketing
Group Site Deals
• Groupon
• LivingSocial
• SocialBuy
• Local sites in your community
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Social Media Marketing
Social Media Time Commitment
• Deciding if social media, is appropriate, and which one(s)
• Time requirements ! ! !
• Management of updates – current and timely is better
• Frequent changes required
• Learning curve for effective use
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Public Relations
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Public Relations
Understanding Public Relations
Public relations is a means of generating
attention from the media that can be as
effective as advertising in building
awareness of your business
Jennifer Behar
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Public Relations
Writing a Press Release
Standard Format
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Headline
Date
Summary
Body
About/Boilerplate
Contact
Target to Each
News/Media Outlet
• Relevant Topics
• Timely
• Interesting
Resource
• Newswire’s PR
Toolkit
toolkit.prnewswire.com
Public Relations
Press Release Distribution
Target publications, reporters and bloggers:
• E-mail release
• Link to your website
• Follow up
Free press release distribution services:
• FreePressRelease.com
• PR.com
• PRLog.org
• Chambers of Commerce (for members)
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Other Marketing Options
Event Marketing
Cause Marketing
Event Marketing
Sponsoring an Event
• Good promotional tool for businesses with local customers
• Find of events that match with your business’s
offerings and your goals.
• Options include sports teams, charity events, schools, races,
fairs
• Investigate event organizer
To consider:
• What will you give?
• What will you get?
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Event Marketing
Steps to Hosting an Event
Set
goals
Plan
event
Promotions
at events
Invite
partners/
sponsors
Publicize
/
market
Collect
customer
data
Thank
attendees
Follow
up
Cause Marketing
Cause Marketing (or Relationship Marketing)
• Using positive publicity, enhancing your brand by
affiliating your business with a “cause.”
• Many customers are conscious of social responsibility
• Products associated with a good cause see up to a 74
percent boost in sales compared to non-causeassociated products*
• Women, millennials especially cause-conscious
• Key causes: Green, education, disaster relief, disease
research
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Cause Marketing
6 Steps to Cause Marketing
Choose a
relevant
cause
Investigate
cause
Decide level
of support
(volunteering,
contribution,
selling
products)
Understand
tax
concerns
Publicize
your cause
Be
authentic
Exercise 2 – Promotion Strategy Assessment / Goals
Using the Worksheet in your folder, fill in your EXISTING Promotion
Strategy and then potential new target markets. What new
promotion strategies may be able to help grow your business?
Fill-in your thoughts about pros and cons of each area list below:
How will this help achieve my goals?
How will this reach my target customer/s?
Does this fit my budget?
Do I have the necessary staff?
10 minutes to work and 10 minutes to discuss
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Exercise 2 – Market Strategy Assessment / Goals
10 minutes to work and 10 minutes to discuss
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Creating Marketing Materials
Creating Marketing Materials
Marketing Materials
Do your marketing materials need a makeover? Do they
still reflect your brand? They all need to be consistent!
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Logo
Signage
Business cards
Brochures
Website
Promotion merchandise
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Creating Marketing Materials
Marketing Materials
Low-Cost Resources:
• 99Designs.com
• CrowdSPRING.com
• Elance.com
• Freelancer.com
• Guru.com
• Inkzoo.com
• Logoworks.com
• Marketsplash.com
• VistaPrint.com
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Creating “Raving Fans”
Creating “Raving Fans”
Why Customer Retention Matters
• As your business grows, retaining existing customers is
key to success
• It costs 5 times more to find a new customer than it
does to keep one*
• Loyal customers can refer other customers to your
business
*Source: Gallup
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Creating “Raving Fans”
Customer Loyalty Programs
Keep customers coming back with loyalty
programs that can include:
Atul Patel
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Loyalty cards
Geolocation websites
Discounts and special offers
Events
Giveaways
What has worked for you? (5 minutes)
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Creating “Raving Fans”
Customer Service
Customer service is key to repeat business. Are
the following aspects of your business meeting
customers’ expectations?
Katrina Markoff
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Physical location
Website
Phone
Your staff
Questions, problems, answers
Customer feedback
Post-sale follow up
Secret shopper information
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Evaluating Your Business
Evaluating Your Business
Your Team
Do you have adequate staff to carry out your
marketing plan?
Laurie Cumbo
Options:
• Savvy marketers
• Retraining current employees
• Hiring new employees
• Temporary workers
• Outsourcing/independent contractors
• Freelancers
• Consultants
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Evaluating Your Business
Return on Investment
Always assess your ROI (Return on Investment) for your
marketing budget
• Set measurable goals
• Measure results
– Marketing effort that generated the sale
– Survey customers
• Adjust marketing plan accordingly
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Helpful Resources
Other Related Manasota SCORE Workshops
Web Site Basics
Internet Marketing and Social Media
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Marketing Resources
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American Advertising Federation (www.aaf.org)
American Express OPEN Forum (www.openforum.com)
American Marketing Association (www.ama.org)
Direct Marketing Association (www.the-dma.org)
Larry Chase’s Web Digest for Marketers (www.wdfm.com)
Marketing Hub (www.marketinghub.com)
Marketing Plan Pro (www.paloalto.com)
Marketing Profs (www.marketingprofs.com)
Marketing Research Association (www.mra-net.org)
Marketing Sherpa (www.marketingsherpa.com)
Mobile Marketing Association (http://mmaglobal.com)
Radio Advertising Bureau (www.rab.com)
SCORE (www.score.org)
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Next Steps
Next Steps
• Complete the Target Market Worksheet
• Complete the Marketing Strategy Evaluation Worksheet
• Create a marketing plan for the next 12 months
that reflects your new marketing goals and explains how you will
achieve them
• Review the With Your Mentor handout for topics to discuss with
your mentor
Don’t have a SCORE Mentor? Connect with one today!
• SCORE has over 13,000 successful and experienced executives
with small business know-how that want to help you
• Visit manasota.score.org for more information
Help Us, Help You
Please fill out the workshop
evaluation form
Your feedback is important to
help us improve our programs!