Chapter 7-Marketing Your Business – Flashcards
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as competition increases
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a strategic approach to marketing and selling services -also developing sound programs/services that keep clients coming back
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marketing
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all functions involved in moving products/services from the producer to consumer
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be proactive with marketing
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set a plan in advance so that all employees know how you are going to market and how its effectiveness will be measured
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5 P's of Markeitng
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1. product 2. place 3. price 4. promotion 5. person
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5 pillars of effective marketing plan (parthenon effect)
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1. external marketing 2. internal marketing 3. guerrilla marketing 4. community outreach 5. corporate outreach
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using a mix of the 5 parthenon effects
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1. allows your the deepest penetration into your community, TOMA, high level of consumer awareness 2. provides you with greater strength/security -more pillars you use, stronger your marketing effect
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TOMA
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Top of Mind Awareness ex: kleenex, ziploc, starbucks
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1. external marketing
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reaches out to a large number of people simultaneously ex: -billboards -radio (live reads) -television (live reads) -direct mail -online advertising
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2. internal marketing
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includes a variety of activities and promotions that: -originate from within the company and conducted on a smaller scale (smaller audience)
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types of internal marketing
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1. point-of-sales 2. in house specials 3. alumni mailers
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point of sales
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strong referral promotion at point of sale -existing members/patients referrals, 60-70% of most sales, and visits come from refs directly
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in house specials
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promotions to your current clients/patients -makes them feel special for being a loyal customer
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3. guerrilla marketing
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performed by staff at the grassroots level -it reaches people at a more personal level -like internal, but done by staff -inexpensive
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forms of guerrilla marketing
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1. lead boxes (fill out form, put in box--in communities) 2. take-one displays 3. business cards for employees/LinkedIn 4. joint marketing promotions with local businesses
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joint marketing promotions with local businesses
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eye doctor next to lens crafters
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direct referral programs-guerrilla
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establish great connections throughout the community and beyond where you are able to establish direct referrals back to your org
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4. community outreach marketing
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-focuses on community building activities -not directed toward getting an immediate response -creating goodwill in the hearts of minds of those who live in the area ex: children's hospital host health fitness programs on the weekends
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types of community outreach marketing
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-press releases -speaking opportunities -contribution to community efforts (trash clean up)
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5. corporate outreach marketing
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includes any activity that reaches out to the employees of a company as a whole in hope of persuading them -ex: your business goes to a big company and gives them disct. if a good amount of people visit your commpany
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steps to creating an effective marketing piece
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1. know your target market 2. create the headline 3. clearly state the benefits 4. make the offer 5. give them a guarantee 6. issue a call to action 7. make it better than risk free (money back) 8. add a postscript
