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by Christine Temple-Wolfe
Small companies are continuously faced with overwhelming challenges as they introduce and sell their product into an ever-changing marketplace. Understanding their role relative to their competition is vital. But what is the best approach, particularly when cash flow is already earmarked for other aspects of running your business?
If you're operating a small software business, you may have a keen sense of your product, your organization and what it takes to be successful; however, you may not be very knowledgeable about integrated marketing communications, and the marketing systems or tools, which can further ensure the success of your organization.
Most small business owners believe that marketing and advertising agencies are not affordable, require lengthy contracts, and can't show measurable results. And unfortunately, most large agencies are missing the mark in meeting their needs. As an outsourcing partner, Excel in Marketing has had tremendous success in partnering with small businesses to help clarify messaging, build tactical marketing plans, and execute on the plan with the right technology.
In building a long-term marketing strategy, the key is to determine the most effective tactics to meet organizational goals and tackle these tactics in the appropriate order. This roadmap will also help better forecast expenditures and measure a program's effectiveness over time. As a small business owner you can frequently become overwhelmed or distracted by all the things you must accomplish; and many of you will attempt to dive into strategies and programs without first undertaking the necessary research and strategy.
Note: It is important NOT to cut corners to save money at the risk of long-term success. Steps taken out of order can be costly and may jeopardize business objectives.
- This may include the website domain, trademark, logo development (branding), and competitive marketplace overview to identify competition. And there may be companies and organizations that are already devoting resources to organizations just like yours, i.e. “angel investors.” This competitive overview enables you to better define your mission and vision, as well as differentiate your organization's brand, messaging and value to your customer.
- Simply put, your brand is your reputation. Once you determine what is important to your audience, demonstrate that value in everything your organization does ... in every marketing communication. Your brand identity should be crafted to convey both what your organization does and its key benefit to your customers. Translate your organization's vision and mission into a visual graphic. Whether you choose a graphic mark or typeface treatment, you will need a master brand and an accompanying tagline or emotive identifying statement. Don't be so clever with the tag line that prospects and customers can't figure out what your organization sells. Studies show that the two to five word tagline is most successful when it is simple, direct, and communicates exactly what your product or service is.
- Data collection helps ensure that your organization communicates with the right audiences and captures important information for future marketing efforts. The databases you need to develop and maintain include the media/press, customer base, prospect lists, and important figures in your community. You won't be able to develop a dialogue with your audiences if you don't have up-to-date contact information. And there are many affordable contact management systems that can be easily launched and utilized by in-house staff. Again, you want to be careful to select the technology that meets your most immediate needs, but can grow as your business grows.
- This is critical in communicating both online and off-line. A clean, professional brochure conveys credibility, commitment and purpose. Many small businesses skimp on materials, which means they may never be noticed by customers. Materials can be created affordably by executing press runs with other like materials to lower the cost per piece. If your information changes frequently, you can utilize “Print-on-Demand technology,” which can be very cost-effective given the latest advancements adopted by print and mail houses. A materials library should also contain a capabilities overview, which describes your organization, its capabilities, staff, locations, purpose, clients, financials, contact information, funding sources and anything else that a potential customer might want to know. Sales letters, follow-up communications, and sales presentations are also critical components that reflect a consistent brand, but deliver the right amount of information at the right point in your prospect's buying cycle. The most consistent mistake we see is companies putting all their information into an expensive brochure, or a 30 page overview. This is simply a messaging mismatch and can drastically impact lead generation and sales conversion efforts. Another common mistake made routinely by technology based companies is the tendency to speak in techno babble…Make sure your messaging is written to the fit the person's needs you are communicating with. For example, Senior decision makers do not want to read technical papers, they want to know the business impact if they choose your product, buy from someone else, or build it themselves.. It goes without saying that all your materials should be saved in formats for electronic communication (such as PDF) and printed communication. You may want to include a product or service sheet with information targeted to specific media or community leaders. Well-done graphics can set your marketing materials apart from your competitors and can be a worthwhile investment. (This means no clip art!)
- Before any marketing programs are executed, your website should be produced, tested and launched. A website is the most powerful communication tool you have in helping to communicate your organization's brand. Your website needs to be easy to find (which means search engine optimization), and provide substantive material to help your audience understand your software product. Websites are designed to provide spoonfuls of information for skimmers and more depth for those that want the details. A functional website enables dynamic, two-way communication with visitors. To scale your efforts and maximize your investment, outsource your website to a service provider and build, change, and leverage the information yourself through a content management system. By investing in a content management system up front, you will save thousands of dollars in design and programming fees in the future. You can easily turn on newsletter functionality, e-commerce capabilities, list management, database management, and content management with sophisticated, yet cost-effective tools for easy updating.
- When your infrastructure is functioning and your dynamic website is up and running, you are now ready to expand your efforts to the press and community leaders. The Gebbie Press book is a quick and inexpensive source to fill your media database with the most relevant contacts for your organization. Then you can regularly send out press releases, editorials, and informational articles. Building awareness and consumer “buzz” are critical to the success of your organization. Get to know your reporters and invite them to your organization and show them what you do and why it's important.
Your small business is now ready for more sophisticated direct mail, email testing, television, radio, on-line marketing and co-marketing with larger organizations to expand your circle of influence. By allocating a percentage of your monthly budget and dedicating it to marketing strategy and implementation, you will see your business grow. In start-up mode, it is not uncommon companies will spend up to 40% of their annual revenue on marketing build out. Remember, this is an iterative process and is best implemented with professionals who can help you achieve your marketing and fund-raising goals.
Christine Temple-Wolfe is a 17-year marketing professional and owner of Excel in Marketing LLC (EIM), a consortium of experienced consultants helping small and mid-sized businesses successfully plan and execute marketing and sales strategies. Based in Orinda, CA, EIM has worked with companies in the public and private sector throughout California. For more information, call 925-876-7191, or write to
templewolf@excelinmarketing.com |
