Advantages of the Marketing Mix

By Lanee’ Blunt

4 Ps of Marketing Mix--
Duchessa

The marketing mix has benefits for a small business that wants to market their business. The marketing mix consists of the choices and decisions that a business must make to bring their product or service to the market. All small businesses should spend a certain amount of their finances on marketing. There is some work to do to find out what your customers want and how your company can produce the product or service at a price that will represent a value to them.

Product

Your product or service should be looked at in terms of how customers will experience it. Think about the features and does it meet their needs. How is your product branded? How are you different from your competitors?

Place

Access the right distribution channels to sell your product or service. Attend trade fairs, make online submissions, or should you send samples to customers.

Price

Pick a price for your product or service that will add value to the buyer. How does your price compare with the competition? 

Promotion

Promote your product or service to your target market. Reach your audience with advertising, direct mail, TV or radio, and through public relations. Build a website. Look at your competitors and how they promote their business.

The marketing mix is known as the 4 Ps because each ingredient affects the other. The marketing mix is the way in which a business uses price, product, place, and promotion to sell its product or service.

Reference:

 Mind Tools: The Marketing Mix and 4 Ps

Tutor2u: The Marketing Mix 

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Advantages of Email Marketing Letters

By Lanee’ Blunt

Email marketing is an effective way to advertise your product or service.  Your email marketing letter can provide customers with information, and special offers. Most small businesses may not understand how email marketing can benefit their business here are some advantages of email marketing letters.

Cost

One advantage of email marketing is that it is cost effective. By using a free email account your email marketing will be free. Emailing direct mail is cheaper than sending regular direct mail you will save on postage, and stationary.

Reach

Email marketing has the advantage of reaching a wide range of prospects. It allows you to market your product or service around the clock. The internet allows prospects to respond to your email messages immediately.

Tracking

Direct email marketing can be measured. You can keep track of your marketing efforts by measuring the details from the open and click through rates to evaluate the success of your campaign.

Fast and Easy

It allows marketers the ease of delivering messages fast. Just with the basic knowledge of the internet you will be able to type your direct marketing letter and click send. It is also fast, your prospects will receive your email marketing letter within minutes. The speed is faster than direct mail, waiting for the post office to deliver, and waiting to hear from the prospect.

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Tips on Direct Mail Marketing

By Lanee’ Blunt

Direct mail is not just for large corporations, if it is written correctly, it will be to your advantage to use. It will help you get more prospects. Actually the sales letter is ideal for small business because it can completely give the benefits of using your service. The package can be highly personalized to your target audience and can be produced with a laser printer, and letterhead stationery.

They are good at keeping your name in front of prospects so when they are ready to buy they might call your company.  They are effective in helping to keep in touch with former customers.  You can obtain better qualified leads and when someone sends you a reply form back they will be expecting you to call them.

The direct mail should have an offer. The most important element to have in direct mail is the offer. It gives the prospect a reason to respond to your direct mail. An offer is what your prospect will receive when he calls you. The offer gives the prospect a reason to call. For example, you can offer your prospect a free sample if he calls, or give him a free informative brochure.

Your direct mail can be targeted toward a group of people and written just for that group to interest them in your product or service. Examine carefully your product or service and make a list of the features and benefits.

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How to Make Quality Business Cards

By Lanee’ Blunt

Business cards are used for networking, advertising to get your message out there, and for your making contact information available to prospects. A small business owner should have a quality business card because it lets customers know that you are ready to compete. You can make a business card on your computer or go to a professional printer.

 

 

Create a Business Logo

A logo can be created using a graphics program or a clip art program. Choose a logo that relates to your company. Save the image of the logo in a .jpg or .png file.

 

 

Design Card

Open the tools menu and choose business cards. Look at the templates. Choose a publication design that you like in the gallery.   A Business card template appears. Click on card. Click download. Type your business information into the personal information page.  This includes your name, job or position, organization name, address, phone, fax, and email. Import your company logo right in the design of the business card. Your logo should be a design that expresses what your business is and helps you stand out from the competition.

 

 

Save the File

If you are going to print the business cards yourself use the Print Preview command to make sure that the cards look satisfactory. Print as many as you need. If you are going to let a professional print the card save it on CD and take it to a copy center.

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How to Advertise a Small Business for Free Online

By Lanee’ Blunt

When you need new clients or customers despite how good your product or service is you will have to advertise. In difficult times the marketing budget is always the first to go. When you are on a budget you can network and also cold call. Advertising your small business for free is possible online.

Directories

Get your small business listed in online directories. Electronic directories are a good place to have your business listed; some are free and will let you include a profile about your small business.

Google Places

It is a free way to advertise your business. Set up an account by submitting your company information, photos and video. You have to verify your listing by phone or by postcard. Google places will list your small business. After the listing is setup, fill out the information about your company, phone, fax, email. Include your payment options and your categories for your business. Most consumers search for local businesses online.

Craigslist

List your company on craigslist. Post an ad on Craigslist for free. List your business under the right category and location.

Reference:

Inc; How to Market Your Business Using Google Places; Eric Markowitz; 2011

My Google Marketing; How to Advertise Your Small Business Online For Free; Admin; 2011

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How to Open a Bakery Business

By Lanee’ Blunt

You may get a lot of compliments from your family and friends about your cakes and pies. Owning your own bakery may be your dream and you want to open a bakery. A degree in pastry arts may help, but it's not necessary to open a bakery. You can learn the craft with time and experience and you have the potential to make good money.

Write a Business Plan

A business plan will be required if you are going to request financing, considering constructing, remodeling or taking over an existing food establishment. It can help you by getting you a business loan and investors.

Funding

Evaluate your funds and make sure that you have enough money to carry you through 18 to 24 months.  Baking entrepreneurs often self-finance. You may need to secure outside funding. Try your local community to bank.

Location

Look for a high traffic location, for example near a school, college, bus or train terminal.

Buy Equipment

Buy commercial sized equipment that will be able to stand the heavy cooking you will be doing. Talk to equipment dealers for the best technical advice.

Health Inspection

You will need to check with your state for information or contact the Bureau of Consumer Health Services to get a health inspection. Once the inspection has been passed, fill out the necessary forms and pay for the permit. For a mobile bakery stand you will need an inspection of your kitchen and apply for a separate mobile food permit. Visit or go to your local health department website and find out the licenses and permits you will need to apply for.

Reference:

The Street: A Dozen Hot Tips for Starting a Bakery; Lan Nguyen; 2008

City of Houston; Opening a Food Establishment

Entrepreneur; How to Start a Bakery Business; 2011

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Creating a Small Business Website

By Lanee’ Blunt

Creating a small business website for your company is a wise investment. After you have set up the website what content should you include on your site? Most small businesses are concerned with graphics, and miss the one thing that sells. Words. A salesman knows the right presentation to bring in sales. Why shouldn’t your website do the same thing for you?

Competitive Site
Study your competitor’s site carefully and stress how your small business is different. Please don’t plagiarize. Stress what makes you stand out from the crowd.

Benefits
List the benefits of your company. Think about why your visitors are coming to your website. What is in it for them and what do they want?

Value
You must build trust and credibility. There are a lot of phonies out there and people looking to scam others. What value do you offer your customers?

Contact Information
Include all of your contact information in one place. A contact page complete with address, phone, fax, email, and etc.

Call to Action
You want the prospect to buy from you, or generate an inquiry. You can create a call to action to get an immediate response. The offer might be for example, enter your email address for a free newsletter.

Your website is an excellent place to send your customers to learn more about your company and to showcase your service. Reference:

Robert W. Bly; The Online Copywriter’s Handbook; McGrall; 2003

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How to Start Up an Online Business

By Lanee’ Blunt

When you start an online business you can sell your own products, work with wholesale suppliers, write content, or start an online store. Starting an Internet business doesn’t require a lot of overhead, and is a business to get into with minimum upfront investment.

Decide what type of internet business you will be going into. Is it a product or products that you are selling or are you going to sell; business to business, or sell your service? Are you going to do affiliate marketing? A sales tax license is required to collect sales taxes. The requirements may be different, so you must check with your own local licensing department. Most online businesses will take time and work to get going, there will be a lot of things to learn, and things to do before the commerce is started.

Register your domain name. This is the web address of your online business. Get a web host. It will provide you with space and support to create your website. Design your website because it will be considered your store front. You can design it yourself, use a template, or hire someone to design it for you.

Use search engine optimization to drive people to your website. Pay-per-click advertising is an effective method to get traffic to a new site. Capture your visitor's email addresses when they visit your site. Build an opt-in list from your customers and subscribers by asking them to give you permission to send them an e-mail. Create an email newsletter and send it to your customers.

Reference:

Entrepreneur: How to Start a Business Online; Allen Moon

SBA: Starting an Online Business

Start Online Business Guide: Online Business Ideas; Kanute Fleming

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Advantages of Online Marketing Over Traditional Marketing

By Lanee’ Blunt

A small business has many advantages of marketing their company online. Many small businesses are having less of a return from traditional marketing like the Yellow Pages, and newspapers. They are looking for new ways to market their business. Marketing online helps to stretch your marketing budget. There are many benefits to marketing online that traditional offline marketing doesn’t offer.

Demographics

Marketing online allows you to specifically target and measure the response from demographics such as gender, age and location. It allows you to target income levels, occupation levels and education levels. The same demographic research can be done in traditional marketing but with online marketing it is easier.

Cost

Placing your product or service on a TV commercial can be expensive depending on the time it’s shown. Internet marketing is much cheaper because a free listing on Google Local is just as effective as a listing in the Yellow Pages. A search engine optimization campaign can offer long-term result and a small ad with Pay-Per-Click is very effective. When a person is searching for a product or service your ad may be on the first page of the Google results for that keyword.

Conversion

Online marketing has the ability to convert customers instantly by capturing the customer’s email address, contract information, and it also gives them the ability to buy from you with the click of a mouse. On the other hand, when you send direct mail you have to get the right mailing list, send reply cards and follow up on leads.

Reference:

Marketing Smart: 10 Advantages of Online Marketing vs. Traditional Media; Martin Wong; 2009

Techie Buzz; The Advantages of Internet Marketing Over Traditional Marketing; Guest Post; 2011

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Creating a Company Newsletter

By Lanee’ Blunt

Having a professional looking newsletter is an excellent way to promote your small business. It is a very effective public relations tool that helps to market your product or service, by drawing attention to your small business.  Publishing a newsletter is a big commitment in time, but it also helps you keep in touch with prospects, generate trust and develop brand awareness.

The size of your newsletter should depend on the amount of information you want to include. Most newsletters are between four and eight pages long. The typical newsletter is four pages long with the back used as a self-mailer.

Concentrate on your audience when writing the articles. Know your audience and what is important to them. There are three or four feature articles included in the newsletter. Give the reader important tips and information that they can use.

Write the newsletter in a desktop publishing program. They are very useful for newsletters. Some programs are easy to learn and inexpensive. If you are creative you can create a professional looking newsletter in full color for your company. “Initially, it might take several issues for you to produce the finished product with relative ease. Your desktop skills will improve with every newsletter you produce, so practice is essential,” according to Loriann Oberlin-Hoff in her book Writing for Money. The publication frequency of the newsletter depends on your commitment, if it will be published weekly, monthly or quarterly.

Reference:

Ralph F. Wilson; Planning Your Internet Marketing Strategy; Wiley

Loriann Oberlin-Hoff; Writing for Money; Writer’s Digest Books

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Lead Generation Strategies

By Lanee’ Blunt

Lead generation is not a new concept. Large corporations and brokers often advertise that they will send a booklet of information concerning income tax or their special market letters free of charge. The purpose of the free offer is to get names of people of a certain financial standing that is interested in the offering. Gaining leads for your small business is a numbers game.

Advertising
An ad can be written for your product or service to produce a certain amount of leads. Ads that are aimed to generate leads do not give the full story, to get the full story the prospect must call, mail in a coupon, write, or go to a website. You can launch the ad promotion for a certain amount of days and then cut the ad when you have enough leads. Although, advertising has a high cost you still have a high level of control.

Referrals
A referral is a low cost method of lead generation. Be creative in obtaining referrals. You can create a referral program by contacting your customers within 30 or 45 days and ask them for three names and phone numbers of someone they know that can use your product or service.

Lead Generation Agencies
They specialize in providing leads for your company. These leads are usually qualified for your product or service. Your product or service is advertised and promoted on a website. The consumer finds the informational website or directory and then they are able to complete an online quote or form which is submitted to the agency. The new lead’s information is verified and sent to the appropriate provider in an email.

Reference:
Entrepreneur; Gaining the Lead; John Jantsh; 2008
About: Marketing Benefits of Using Lead Generation; Laura Lake

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How to Create Your Own Letterhead

By Lanee’ Blunt

 

A small business or a consultant should have their own letterhead because it makes you look professional and helps you compete with other companies. “A letterhead often is the first section a reader notices on a letter.  Thus, it is important your letterhead appropriately reflect the essence of the individual or business,” according to Gary Shelly, Thomas Cashman and Misty Vermaat in their book, “Microsoft Office 2007.”

Most desktop publishing programs have features for letterheads but you can also create a letterhead in a word processing program. Look at the templates. Choose a letterhead design that you like in the gallery.  A letterhead template appears.

Some software programs will allow you to create a logo or download one from the internet. Import your company logo right in the design of the letterhead. Your logo should be a design that will help you stand out from your competition.

Determine the placement of the letterhead. Some letterheads have a design and color at the top of the paper and the same color or another color on the bottom. Vertical designs are another option to consider with bright designs along the side with your logo.

Type your business information into the personal information page.  This includes your name, job or position, organization name, address, suite number, phone, fax, and email. Choose a professional font size. 

Proofread before printing. Print one copy to be sure that you like the color scheme and layout. Print as many copies as needed.

Reference:

Gary Shelly, Thomas Cashman and Misty Vermaat; Microsoft Office 2007; Thomson Course Technology

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How to Create a Sales Brochure

By Lanee’ Blunt

Creating a sales brochure is more than adding a list of your services to a desktop publishing program. Your company brochure must reflect your overall company image and be in tune with your marketing message. Don’t wait until the last minute to create a brochure. You will have limited time to create one when you are trying to win a bid, or when a prime prospect asks for more information on your small business.

Know Your Audience

The brochure has to be written with your audience in mind.  What do they want from your company? This is not the opportunity to go on and on about how great your company is. Look at it from the prospective of; what do they want from you?

Describe What You Offer

You should have a well-planned outline before you write it, so you can drive home the selling points. The brochure has to provide information about the features of using your product or service. “There are many ways to format and design a brochure, but the content is the most important part of your brochure and its purpose is to inform the reader with intention selling, according to Ian B. Rosengarten’s book How to Market your Business.

Layout

The layout of the brochure is important and you should be concerned with how it looks. Use visuals that will help you make your sales point. “The best brochure photos demonstrate the product’s usefulness by showing it in action. Putting people in these photos usually adds to the visual’s appeal (people like looking at pictures of people), according Robert W. Bly in his book The Copywriter’s Handbook. A Step by Step Guide to Writing Copy that Sells. Your paper size is important also, you have a choice between two basic brochure print sizes 8 ½” X 11” or 11” X 17”.

Great Promo Pieces: Create Your Own Brochures, Broadsides, Ads, Flyers and Newsletters That Get Results

References:

Ian B. Rosengarten; How to Market your Business; Sourcebooks

Robert W. Bly; The Copywriter’s Handbook: A Step by Step Guide to Writing Copy that Sells; Owl Books

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How to Write a Proposal to Bid on a Job

By Lanee’ Blunt

Writing an effective proposal can win you the bid. It is important that you come up with the most accurate cost estimate and develop a low-competitive priced bid. A bid proposal is necessary for a business to be considered on a project, and is usually part of a sealed bidding process.

Read the request for proposal (RFP) several times before preparing the bid. Address the major topics in the RFP making sure that you have a clear understanding of the specifications and requirements. Gather all of the information and complete all required forms that must be submitted with the bid.

Write your bid response. Write the company profile section. Include information about your small business, your experience, and your method of performance. Tell the reader why they should hire your company. Give your work references or samples of the type of work you have performed.

Performance section explains how your company will do the job. Focus on the highlights of your business. What are the benefits of using your business?

Provide a list of your employees and resumes of key personnel. All of your senior staff should have professional resumes included in the proposal. Write a detailed description of your business, your experience, and the date you established the company.

Cost section. The bidding price should come out of the budget detail, the cost of material if any; labor, overhead, packaging and transportation. The price should meet the supplier’s rate of return objectives.

Attach financial statements, compliance reports, certificates, licenses, and company brochures with your bid proposal.

Reference

SBA: Bidding on Federal Construction Projects 

Findfrp: How to Write a Proposal or Respond to a Bid Solicitation

Rfp Templates: Bid Responsiveness Determination

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Affordable Small Business Advertising

By Lanee' Blunt

Advertising a small business is effective when you put in creativity and time. You may not have a big advertising budget when starting out, but there are several ways to advertise and produce results. Use a combination of advertising ideas. Advertise in peak seasons if you’re in lawn care, housekeeping, and roofing. Here are some small business ideas.

Write Personal Letters

Advertise your small business by sending personal sales letters, use your computer to generate the letter, and use the mail merge feature it will personalize your mailing list. Write a personal letter with a friendly tone for example; sound as if the prospect is sitting across from your desk in your office. Address the letter with the prospects full name and address. Most letters say something personal to the prospect, for example, congratulations on opening your new business. You can stress the benefits of using your product or service in the letter. The personal letter should contain a specific piece of information. It contains a P.S., and it must be signed in ink or a fountain pen.

Get Listed in Directories

Numerous directories carry a large amount of advertising. List your small business with the Yellow Pages. You will get local calls from your advertisement. The Yellow Pages is used often and almost by everyone. The directory is usually used when someone has searched for a definite need or information. Create your ad like you would for a business-card with a listing of; the name, the trademark, the product, or the service that you offer. Register on web directories also. There are a number of free directories that will list your business information and telephone number.

Get Referrals

A good referral program can go a long way for getting customers. Devise a referral program and give a free gift if your customers give you three referrals. Ask them for a name, address, and phone number of three of their friends.

Specialty Products

Get pens, calendars, or mugs made up with your small business name, address and phone number. Distribute the specialty item to clients, to prospects and to everyone that you think can use your product or service.

Pay Per Click

The approach is different from advertising on television with pay per impression. Adwords is pay per click (PPC) which allows you to advertise your website or a product on the side or top of the page of the search engine or on someone’s website.  When someone clicks on your ad they will be directed to your website. This drives traffic in high volumes to your website.

Reference:

Jay Conrad Levinson, Jeannie Levinson & Amy Levinson; Guerrilla Marketing: Easy and Inexpensive Strategies for Making Big Profits from your Small Business; Houghton Mifflin; 2007

SBA: Market and Price; 100+ Marketing Ideas

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Direct Mail Advertising

By Lanee’ Blunt

Write a product marketing letter--
GlennPeb

Direct mail advertising is a common form of advertising. They are used by multimillion dollar corporations and by small businesses. Direct mail is effective in getting more leads, selling products, and getting your sales team into the door. Marketing letters are effective in getting sales leads and can help you market your service with direct mail.   Direct mail can be used instead of cold calling and when you call the prospect they will expect to hear from you.

Reaches a Target Market

Your direct mail can be targeted toward a group of people and written just for that group to interest them in your product or service. Examine carefully your product or service and make a list of the features and benefits. “Direct mail is the only mass medium that can be directed toward target groups or prospects. The message may be highly personalized and can also be designed as an effective market research tool,” according to B. Charles Ames and James D. Hlavacek, in their book, Managerial Marketing for Industrial Firms, Random House,

Test

An advantage of using a sales letter is that it can be tested to see how well it will do. Test your sales letter before you invest your time and your money in a direct mail program.  You have to know if the letter will pull a response.  You can use a small sample of one hundred letters, mail them and test your response.  If the letter is not strong enough and you receive no response then you must revise your letter.

Reference:

B. Charles Ames and James D. Hlavacek; Managerial Marketing for Industrial Firms, Random House

Read This Next

How to Create a Company Logo

How to Make Your Own Company Letterhead on Microsoft Publisher

How to Build a Business Referral Program

Online Marketing Advantages

Direct Mail Leads

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How to Open an Estate Sale Business

By Lanee’ Blunt

Start an estate sale business.

Starting an estate sale business can be lucrative if you love to deal with antiques and organizing things. An estate sales facilitator is called in when a loved one has died or if the family has to put someone in a nursing home. The family may not want to deal with the cleaning up and organizing of the loved ones items and getting the items sold so that the home can be sold.

Set Up our Business

You must set up your business as a legal entity. Decide which form of ownership is best for your particular business: sole proprietorship, partnership, Limited Liability Company (LLC), corporation, or S corporation.  You can operate your business under your own name or get a fictitious name DBA and operate as a sole proprietorship. Get bonded because most families won’t work with you if you are not bonded. Obtain insurance to protect yourself if you accidentally damage property or if you get hurt while on the job.

Hire employees

You may have to work for families that have not cleaned up. And you may need to hire someone on days when you have a lot of organizing to do for the big sale.  

Advertise

Advertise your estate sale business. Market your business by passing out fliers. You can put up signs announcing the sale. Put an ad in the newspaper.

Building Customer's

The estate sale business is a good business and is almost recession proof. There will always be someone that will need your service for their love one. If you are not great at appraising antiques you can always outsource and have a professional appraise the antiques. Develop relationships with Realtor's and ask if they can recommend you to their clients.

Reference:

Entrepreneurship: Starting a Low Start up Cost Business; Rae Morvay

[Image of estate sale].  (n.d.). Retrieved from http://www.estatesaleshouston.com/

 See also

• How to Build Referral Program
• How to Create a Company Logo
• How to Write a Small Business Proposal
• How to Create a Company Letterhead for your business

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