Strategy Matters 
Vol 3 Issue 8August 2011
Strategy Matters brings you news, tips and strategies for effective communications from Strategic Communications, LLC. We're committed to bringing you success through strategy. www.stratcommunications.com
Why You May Not Need to Advertise
 

I think I've been fortunate to work at, and for, "thrifty organizations"--those that are a bit tight with the pocketbook and really want some assurance that the time, effort and money they're spending on marketing efforts (generally when they say "marketing" they mean "advertising"...) is paying off. It isn't always.

Too many organizations use advertising because they're used to seeing advertising. As consumers we're surrounded by advertising messages so it's natural for us to assume that advertising "works." What our competitors are doing also tends to drive our own activities. Interestingly, I've seen organizations that have the commanding share of market spend an inordinate amount of time monitoring--and then copying--what the competition is doing. They do this, despite the fact that the competition is not doing as well as they are.

When it comes to marketing (and I mean marketing in its broadest sense) there is a tendency to be ruled more by emotion than facts and logic.

The bottom line: many businesses are overly focused on advertising and may be literally throwing their money away. That doesn't mean that advertising doesn't work--it can. But to be effective, advertising needs to be incorporated into the overall promotional mix wisely. Some key points:

  • Advertising can be most effective when used as a means of creating overall awareness and preference from a branding or positioning standpoint.
  • Social media efforts -- specifically Twitter, in my opinion -- can also be effective in generating awareness.
  • PR activities can help to lend credibility to your advertising efforts because you are using third party endorsements (generally the media) to create positive perceptions.
  • Direct mail (traditional or online) and targeted social media activities can help to generate results that can be tracked through leads or sales.

The right communication tools to use with the right audiences in the right ways depends not on what "everybody else is doing" or "what the competition is doing" or that "cool new promotional technique" you just learned about. The right communication tools to use depends on a clear understanding of your intended goals, a very specific understanding of your target audience and the strategic selection of the right tools and messages (in the right combination) to achieve your goals and objectives.

To learn more, read our white paper on developing a strategic marketing plan. 

 

Business Plan Best Practices 

 

Whether starting a new business, expanding an existing business, or simply introducing a new product or service, it's a good idea to start with a plan - a business plan. To some, developing a business plan may seem like an extremely time-consuming and unnecessary task. It doesn't have to be. Business plans can range from the simple to the complex--but should include the same core elements. Here are "7 Critical Business Plan Elements":

 

1) A convincing business case or "reason for being."

What is your business all about and why does it exist? What benefits does it provide? To whom? Why, in 50 words or less, does your business "have what it takes" to succeed?

 

2) A differentiating product or service description.

 

What, specifically, is the product or service you're offering? For instance: not just a pizza restaurant, but a pizza restaurant with a specific menu, using certain specific items, appealing to people in a certain specific way, etc. Include those unique points that differentiate your product or service from others.

 

3) A clearly defined target market.

 

What is the market for your product or service? Over what geographic area does your market extend? What type of businesses or individuals does your product appeal to? Again, be specific.

4) A thorough competitive analysis.

The degree of competition that you will face, and the extent to which you can effectively respond to that competition, are important factors in your success. Consider not just direct competition, but all substitute products and services that may represent threats to your sales. For example, if you're developing a business plan for a health club, local stores that sell exercise equipment for the home represent competition.

 

Look at each competitor's strengths and weaknesses and consider how your business is positioned against that competitor. As with other elements of your plan, be honest - and be specific.

 

(To read more visit our blog.)
  
Get Media Exposure - In Your Own Words!

 

Over the past few years, as many of you certainly know, the economy has had a marked impact on the media industry, particularly for print journalists. Entire organizations have closed or been acquired and many have laid off staffers, leaving those left behind busier than ever before. 

 

Often, when I'm approaching journalists with an idea about an article that might feature one of my clients, I'll end by saying something like: "I'd be glad to put you in touch with (client) or, alternatively, to provide you with a contributed piece on (story idea)." It is not at all uncommon for them to take me up on the offer of a contributed piece.

 

When doing this, though, just as when doing an interview with the media, there are some key points you need to keep in mind:

  • Go light on the blatant self-promotion. Yes, this is an opportunity to promote yourself and your business, but your content should be presented as *news* not advertising.
  • Write with the audience in mind. What about what you have to say will resonate with the audience and provide them with value?
  • Don't be afraid to "give away your secrets." These days information is widely available, free of charge. Some of the most successful consultants I work with are those who share their knowledge widely and broadly. 
  • Follow up and seek feedback. Thank the publication after your piece has been published and ask for feedback about anything you could do better/differently next time.
  • Explore opportunities for regularly contributed pieces. Even the top publications are open to this; one consultant I know writes a regular column for Fast Company.
  • Leverage your coverage by posting links to the piece on your web site and social media pages.
  • Make sure your writing skills are at least "good" -- remember, the goal is to make the journalist/editor's job easier not more difficult. If too much editing needs to be done on your piece, you won't have an opportunity to submit again.
  • Don't be surprised or annoyed if the information you submit is edited. It is, after all, editorial not advertising.

First steps: make a list of the publications you'd most like to be covered in, find the name and contact information for the editor that covers your content area and reach out via email (email has become the far-preferred contact point for media professionals) to see if the publication accepts contributed copy.

 

Need help with this? Contact us at linda@stratcommunications.com.

70 Tips for Effective Strategic Planning 
 
Strategic planning isn't about the planning--it's about generating results. This white paper offers 70 tips for effective strategic planning that can help you pave the way for success during the planning process and, most importantly, after!  

 

Contact us for a free copy. 
Strategy Matters!  linda@stratcommunications.com
Offer Expires: 9/1/11

Just released!  Direct Mail in the Digital Age (Self-Counsel Press), and Complete Idiot's Guide to Strategic Planning (Penguin)
In This Issue
Why You May Not Need to Advertise
Business Plan Best Practices
Get Media Exposure

WE'RE IN THE NEWS! 

 

Should Netflix Have Sought Customer Feedback?

 

QR codes keep pace as mobile proliferates

 

Ask the Experts: How Do I Find More Customers Online? 

 

Powerful PR Tips

 

Strategic Use of Direct Mail