Evaluating Advertising Opportunities

Many of my clients ask if they should advertise in the Yellow Pages or other phone directories.  Typically, the cost to participate is quite high compared to other publications so many business owners look for guidance to make this decision.  They feel obligated to advertise, but don't really want to.  

Here are a few things to consider when evaluating any advertising opportunity: 

• Your target market - Who are they, how do they find out about you, what are their habits when it comes to media?
• Your sales strategy - How are you attracting new customers / clients?  What tactics are already in place?
• Past advertising results - Have you advertised in phone directories in the past?  Did it generate new business?
• Your online strategy - Do you have a website?  Is your website optimized so that search engines can find you?   
• Your marketing budget - Have you planned to advertise in phone directories?  Do you have the budget to participate?

As a business owner, you are continually bombarded with advertising and promotional opportunities.  Without a plan, these decisions can be pretty tough, especially when you are already busy running your business! 

Here are a few red flags to watch out for:

• Feeling that you don't want to miss out.
• Choosing to participate because your competition is participating.

Keep in mind that just because other businesses are there, doesn't mean it works!  If you need assistance with your marketing strategy,  please give me a call. 

Is social buying a good fit for your business?

Social buying is pretty hot right now. Sign up for 'Groupon' or other social buying sites and you will be bombarded with screaming deals on goods and services in your geographic area. Sounds like a great way to boost business. It is right for yours? It can be - if you use it wisely based on your strategic direction and tactical objectives.

Social buying is based on volume. Businesses provide a substantial discount on a product or service to members of the network. The 'offer' is based on achieving a minimum number of purchasers. When the minimum is met, the offer is "ON". From a revenue perspective, the assumption made is that additional volume generated will exceed the cost of the discount provided. That depends on your strategic direction and your tactical objectives.

Some reasons to participate include:
- Attract new customers
- Generate trial of a new product / service
- Increase traffic to your location (awareness, exposure to your other products and services)
- Move inventory
- Fill white space (generate business during typically slower times)

Sounds great right? Now we just have to develop an offer that will deliver on your objectives - here lies the challenge. Fortunately, you have lots of variables to play with to ensure that you are not simply discounting sales to your existing customer base. Product, time of day, location, and valid dates are just some of the tools that you have to craft an offer that meets your needs.

When used strategically, social buying is a really exciting new marketing tool that can help to boost business. If you are thinking this might be right for your business, give me a call. I would love to work with you to ensure your business gets the boost you want.

Tourism Pemberton launches Media Gateway

Betsy Linnell Marketing Management client Tourism Pemberton, is prepared to promote Pemberton & District Area as a vacation destination during the 2010 Olympic and Paralympic Winter Games with the launch of their new Media Gateway.

Originally planned as a traditional printed media kit, after reviewing project objectives and the budget available, Betsy Linnell Marketing Management recommended a shift in the project direction. Key strategies were revised to avoid the high cost of printing and postage for distribution, focusing instead on the use of technology and the Internet to reach the broadest audience possible. Leveraging the newly created Tourism Pemberton website www.tourismpembertonbc.com, the Media Gateway was born.

The Tourism Pemberton Media Gateway was designed to provide members of the media, access to information and resources about Pemberton & District Area including media releases, story starters, an image bank and key contacts for more information. Content for the Media Gateway was developed locally by writers and photographers who call Pemberton home. The fact that all the contributors are local, added an additional layer of content for the project, reinforcing that Pemberton is more than just a big potato farm or a bedroom community for nearby Whistler.

To ensure that media visiting Vancouver and Whistler for the 2010 Olympic and Paralympic Winter Games know about the resources available, the project includes a distribution strategy that leverages relationships with other tourism partners to reach key media. A media specific postcard was developed for distribution at both the Accredited and Non-Accredited Media Centres in Vancouver and Whistler. In addition, a downloadable digital version of the Gateway will be available.

The Tourism Pemberton Media Gateway will be a valuable tool to promote Pemberton as a vacation destination both during and after the Games in 2010. Based on the same content management system platform as the Tourism Pemberton website designed locally by the Custom Fit Online Marketing, the Media Gateway is easily updated. Moving forward content can be added as required leaving Tourism Pemberton with a marketing legacy that will provide long term benefit to the community long after the Games have come and gone.

Measurability of Social Media

With any marketing initiative, the ability to monitor and track effectiveness is critical. The emergence of social media channels has given marketers some new tools to work with which is very exciting. It's tempting to just go for it and get out there! Hold on - just for a minute. These tools are cool and it's fun to participate in this new channel, however you can spend a lot of time (time = money) to the detriment of your marketing and business objectives. So, my message today? Social media channels have a place in your marketing plan - but the basics of marketing still apply.

Start with your objectives - Realistic, understandable, measurable, beyond normal, achievable and time bound. Ex: Increase awareness levels for XYZ brand by 20% over the course of ABC marketing campaign by December 31, 2009.

From here, build you strategies and assign tactics that fit and will achieve your objectives. Great.

Now comes the challenge - measuring the impact and effectiveness of your social media tactics. Here are a few thoughts:

• Track the increase in fans, followers, comments etc. This is pretty straight forward and can be effective to measure things like "awareness" or "engagement". It can also be valuable for future initiatives since you are increasing your audience.
• Be bold. Implement an offer, promotion, contest exclusively through one of more social media channels. You obviously need an audience for this to be effective, but you will know really quickly if your offer is compelling and resonates with your customers.
• Use one of the new tracking tools that are available such as Viral Heat, an analytics tool to track and measure your efforts in the social media space. http://mashable.com/2009/07/07/viralheat/

So, add social media channels to your marketing toolbox. Ensure that they fit with your objectives and determine how you will measure and track your success.