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Seven marketing tips for small budgets

 

 Insights & Joy 

October 2015

 

 

 

 Helping leaders accelerate profitable growth by enhancing a
 team’s ability to create and deploy right actions, right now!

 

Dick Morgan CMC, FIMC

Seven marketing tips for small budgets

 

As a business owner or executive, you can be your most successful salesperson…if you are willing to invest the time and a little money to build relationships around a consistent, understandable brand. 

 

Be understood. People need to clearly understand what you do. You need to be able to crisply convey who you help, what you provide, how clients benefit, and performance proof in 30 seconds or less as a market positioning statement. A good, brief statement for a landscape company might sound something like, “We provide home owners in North Dallas with serene, low maintenance outdoor environments to delight family and friends. Our creative ideas and make-overs win rave reviews and design awards.”

 

Be consistent. Design your marketing plan to project your uniqueness within a consistent framework. Your brand consists of everything people see, hear, and experience. Adopt a color scheme that you use for everything from stationery and business cards to signs, brochures, and your web based presence. Consider a logo that portrays a fresh, crisp image in all sizes for all media. Use your positioning statement everywhere it fits and educate employees to use it verbatim during their contacts.

 

Be focused. Use your positioning statement and internal mission description to screen what you pursue and what you eliminate from consideration. You cannot be all things to all people, so focus your limited marketing resources to your chosen market segments. For example, if you only want to serve customers in a group of local ZIP codes, avoid marketing channels that can only blanket the entire city or state. Your direct mail and loyalty offers to your ZIP codes will deliver more bang for the buck than most other media channels. You may want to serve a small number of segments, like healthcare providers, wholesale distributors, or local manufacturers. Focus your marketing on those industry groups and avoid spending on others.  

 

Be different. Take the time to segment your past customers by industry designation, geography, size, and the match between their needs and your capabilities. Discover your ‘sweet spots’ and identify where you can make the greatest impact. Establish your key market segments and develop your unique capabilities before spending cash on unfocused marketing. Find what makes you ‘different and unique’ to past clients, and discover what they value most from you and your company. Do not start by thinking that you already know. You may be quite surprised by the responses you get by asking that question.

 

Be helpful. You need to be willing to ‘give back’ to your business community.  Consider doing some pro bono work for non-profit organizations who need what you offer. Be generous with your time and help others succeed. The time invested will return dividends in future business referrals and credibility. Become an accomplished networker too. You will meet others who either can bring you business or refer you to their friends who can bring you business. Industry associations and local service organizations can yield valuable contacts for mutual benefit. If you are not an accomplished networker, seek out one at a future meeting and ask for advice. A master networker will be flattered that you asked for their help.

 

Be direct. People buy from people they know and trust. No amount of indirect marketing can replace one-on-one direct relationship building. Participate directly within your target markets. Attend industry trade events. Meet the movers and shakers and make the first move to establish direct links. Call them, dine or share coffee together, go see them, explore the areas you have in common. Be prepared to help the other person first, without concern for getting something in return. 

 

Be thrifty. “Good marketing doen’t take millions. It takes imagination, enthusiasm, and the willingness to experiment and change.” Many of the marketing ideas and tactics involve little or no dollar investment, but rather an investment of time and attention with those you intend to serve. In the end, nobody can tell your story and represent you as well as you. As a business owner or executive, you can be your most successful salesperson…if you are willing to invest the time and a little money to build relationships around a consistent, understandable brand. Often, the investment in professional marketing advice is repaid ten times over!

 

“Effective marketing doesn’t take millions. It takes imagination, enthusiasm, and the willingness to experiment and change.”                                                                                                                                                             Richard P. Morgan CMC, FIMC 

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$ Million Marketing Tips

Tip: To position yourself in the market is not possible, your customers position you in their minds. What you can do is make everything you do a positive influence on their perceptions.

 

Tip: Good marketing plans implemented with gusto usually do better than brilliant plans poorly executed.

 

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Marketing Facets: The Market-focused Guide to Company Analysis by Richard P. Morgan CMC, FIMC

Marketing Facets is a practical resource for those involved in determining the current health of a company and gauging its future prospects. Designed to be a supplement to other due diligence or business evaluation work, the 103-page guidebook takes a holistic approach. The guidebook assembles facts about twenty-five marketing functions along with management assumptions in key areas to help analysts form and support conclusions about the enterprise.

Marketing Facets is a valuable resource for private equity fund managers, individual investors, investment banks, and valuation specialists. C-level executives will find Marketing Facets a helpful guide for internal analysis, as part of normal business planning, or in advance of efforts to refinance or divest.

Marketing Facets is available in electronic form via the Internet, on CD/ROM, or in print with a ring binder.

> Electronic in MS Word or Adobe .pdf format via the Internet @ $80.00

> CD/ROM format @ $90.00 including U.S. shipping and handling

> Ring binder print version with CD/ROM combo @ 100.00 including U.S. shipping and handling

Consulting is also available. Please contact Morgan Marketing Solutions, Inc. for additional information. 972.931.7993 * email rpmorgan@morganmarketingsolutions.com.

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Smiles make the day!
Laws they don’t teach in physics:

  • Law of Mechanical Repair: After your hands become coated with grease, your nose will itch.
  • Second Law of Gravity: Any tool or part, when dropped, will roll to the least accessible place.
  • Law of probability: The probability of being watched is directly proportional to the stupidity of your act.
  • Law of Random Numbers: If you dial a wrong number, you never get a busy signal; someone always answers.
  • Law of variation: If you change lanes, the one you were in will then move faster than the one you are in now.
  • Law of Lockers: If there are only two people in a locker room, they will have adjacent lockers.
  • Law of Coffee: As soon as you pour hot coffee, you will be asked to do something that lasts until it’s cold.
  • Third Law of Marketing: When you find a product you like, they will stop making it, or the store will stop selling it!

 

A client speaks: 

The experience at Garrett Creek Ranch was an unbelievably positive experience. Every person attending has followed up with enthusiasm and a lot of thanks for the entire weekend. Then, the added benefits of our update with the rest of our team today completed the circle of energy that is flowing through this store today. Thank you so much for sharing just a bit of your knowledge with us all, but especially Paul and myself. We appreciate all that you have begun so far and I’m sure the future hold great things for everyone involved.” Dianne Tacker, CFO, The Tacker Company, Inc., Grapevine, TX.

 

Our ideal client: is a business owner or CEO, 30 to 60 years of age. Usually with a financial, engineering, or production background. Our client is often impatient, and interested in improving company performance. Comes alive when you ask, “How’s business?” He, or she is practical but also enjoys the finer things in life. So, you may see my client driving a Lexus or SUV to Neiman Marcus…and to Sam’s Club. Who do you know that fits this description?

P.S. Ninety-three percent of our engagements originate as a referral from helpful people like you. Please don’t keep me a secret!

 

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Copyright 2015, Morgan Marketing Solutions, Inc.

 

Richard P. Morgan CMC, FIMC

Morgan Marketing Solutions, Inc.

16814 Park Hill, Dallas, TX 75248-1444

Telephone 972.931.7993
e-mail rpmorgan@morganmarketingsolutions.com

Author, Marketing Facets – The Market-focused Guide to Company Analysis

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CMC (Certified Management Consultant) is a mark awarded by the Institute of Management Consultants USA, and represents evidence of the highest standards of consulting and adherence to the ethical canons of the profession. Less than 1% of all consultants have achieved this level of performance and dedication. The CMC process is now recognized as an ISO17024 process. For more information go to www.imcusa.org.

– See more at: www.morganmarketingsolutions.com

 

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