1. Old Colorado City
Merchants & Businesses
January 22, 2009
6:00 - 8:00 pm
3216 West Colorado Avenue
Colorado Springs, CO 80904
(719) 226-2265

2. Old Colorado City
Merchants & Businesses
January 22, 2009

3. PURPOSE
 Define MARKETING
 How to effectively MARKET your business
 How to BRAND your business
 How to find VALUE in advertising
 The next step

4. WHAT IS MARKETING
 The process of organizing and directing all the
company activities which relate to determining
the market demand and converting the
customers buying power into an effective
demand for a service and bringing that service
to the customer.
 The practice of encouraging consumers to buy
products.

5. WHAT IS MARKETING?

6. WHAT IS MARKETING?

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20. WHAT IS MARKETING?

21. WHAT IS MARKETING?

22. HOW TO EFFECTIVELY MARKET YOUR BUSINESS
 There are 9 tips to effectively market your
business

23. MARKETING TIP #1
 Look for some low-cost ways you can enhance
the perceived value of your product or service.
Then test raising your price.
 Don't be surprised if both your sales and your
profit margin go up.

24. MARKETING TIP #2
 Try to limit your customer's decision making to
either "Yes. I'll buy." or "No. I won't buy".
 Don't risk losing them by including "which one"
decisions.
 The more options you offer, the more likely
some customers will procrastinate and never
make the decision ...causing you to lose a sale
needlessly.

25. MARKETING TIP #3
 You can demonstrate a low cost for your
product or service by breaking down the price
to its lowest time increment.
 For example, "Enjoy all of this for less than .90
cents a day" (for something priced at $325 a
year).

26. MARKETING TIP #4
 Add an unexpected bonus to every sales
transaction just before completing the sale.
 It prevents customers from developing any last
minute hesitation ..and changing their minds
about buying.

27. MARKETING TIP #5
 Print your best small ad on a postcard and mail
it to prospects in your targeted market.
 Postcards are inexpensive and easy to use.
 Most recipients who ignore other types of
advertising will read a brief ad when it's
delivered to them on a postcard.
 It makes the consumer touch your ad directly
out of the mailbox.

28. MARKETING TIP #6
 Prospects who ask questions are usually close
to buying. Take advantage of this. Don't just
answer their question. Include a reason for
them to buy as part of your answer. Then ask
for the sale ...or tell them exactly what to do to
place their order.

29. MARKETING TIP #7
 Collect testimonials from your customers and
use them in all your advertising.
 Testimonials provide evidence that your product
or service delivers the results you promise.
 For maximum impact, use only testimonials
that describe specific results the customer
enjoyed.

30. MARKETING TIP #8
 Include "benefit rich" headlines on all your web
pages.
 Many visitors arrive at a web page then
immediately click away ...unless something
instantly catches their attention.

31. MARKETING TIP #9
 Continually test and evaluate everything you
use or do to promote your business.
 Allocate 80 percent of your advertising budget
to proven promotions.
 Use the other 20 percent for testing new
variations.
 Most businesses using this system continue
growing - even in highly competitive markets.

32. BONUS TIP
 Handle customer complaints quickly and with a
positive attitude.
 Strive to preserve your relationship with them
instead of your immediate profit from the
transaction.
 They will reward you with repeat sales and
referrals ..instead of punishing you by telling
everybody they know about their unhappy
experience and causing you to lose future
customers.

33. HOW TO BRAND YOUR BUSINESS
 Your business has an image.
 It doesn’t matter if you spent thousands of
dollars on a logo and marketing materials or
took ten minutes to slap a piece of clipart on a
business card, your business still has an image.

34. HOW TO BRAND YOUR BUSINESS
 A business’ image consists of logo, slogan (tag
line), color, fonts, etc.
 It’s also part of how you brand your business.
 Image and brand building is important so that
people think about your business when they
need your products or services.

35. HOW TO BRAND YOUR BUSINESS
 Put your logo to work.
 Probably the most memorable part of your
image is your logo.
 Your logo represents your business and it helps
sell your business.
 It turns the name of your company into a visual,
tells what you sell, and reinforces your company
name and product.

36. HOW TO BRAND YOUR BUSINESS

37. HOW TO BRAND YOUR BUSINESS
 Why should you care about building your
brand?
 What is a brand anyway?
 Why can Starbucks get more money for a cup
of coffee rather than the local mini-mart?

38. HOW TO BRAND YOUR BUSINESS
 There is inherent value in “brand equity.”
 Simply put, brand equity is the set of assets (or
liabilities) associated with brands that contribute to
the value consumers place on the brand
experience.
 In other words, a well-established brand makes
your product or service worth more. It’s that
simple!

39. HOW TO BRAND YOUR BUSINESS
 Branding is not something that happens
overnight.
 Brands are created over time.
 When Betsy Ross brought Ben Franklin her first flag
design, Ben remarked, “I don’t know, Betsy, all
those stars and all those stripes just don’t say
America to me.”
 Branding takes time.

40. HOW TO BRAND YOUR BUSINESS
 A brand is an image that exists in consumers’
minds.
 Consumers come to believe in a product’s quality,
reliability, results and status because they see repeated
assurances that the product delivers those attributes.
 When consumers are motivated by a product’s brand
attributes, they choose that product over similar ones in
the marketplace.
 Why buy NIKE as opposed to just sneakers? A BMW
rather than a Suzuki?

41. HOW TO BRAND YOUR BUSINESS
 Everything you do contributes to your brand.
 Before you can build your brand, you need to
understand what your brand’s attributes are and
what your brand’s positioning should be.
 How does your brand stack up against the
competition?
 What are your brand’s strengths and weaknesses?

42. HOW TO BRAND YOUR BUSINESS
 Know your competition.
 You will never know whether your marketing
initiatives are successfully building your brand
unless you have measured your competitive
position.
 How does your target market feel about your
brand?
 How does your brand, without advertising, measure
up against your competition?

43. BRANDING WORKSHEET

44. DEALING WITH REJECTION (PT. 1)
 “I tried advertising and it didn’t work.”
“Yeah, I know,” whispered the little voice inside me, “I see it not
work every day.”
But if that advertiser’s message is weak, you’ll soon be
hearing, “I bought what you said and it didn’t work.” I had been
groping blindly in a pitch-dark room when I flicked the light
switch on the wall. Suddenly everything was clear: Message
and copy are two different things.

45. DEALING WITH REJECTION (PT. 2)
 "The fish trap exists because of the fish. Once
you've gotten the fish you can forget the trap. The
rabbit snare exists because of the rabbit. Once
you've gotten the rabbit, you can forget the snare.
Words exist because of meaning. Once you've
gotten the meaning, you can forget the words." –
Chuang-tzu, 350 BC
If Chuang-tzu had been in advertising, he would
have said, “Copy exists because of message. Once
you’ve gotten the message, you can forget the
copy.”

46. DEALING WITH REJECTION (PT. 3)
 1. No one ever plans to have a traffic accident.
2. You don’t really have to get 3 estimates from 3 different body shops.
3. You don’t even have to pay your $250 or $500 deductible.
4. Your insurance company will happily pay whatever their adjustor says is
the right amount.
5. When you’ve been involved in a traffic accident, call me.
6. I’ll send out a wrecker to pick up you and your car.
7. I’ll give you a free loaner car to drive while I’m repairing your car.
8. I’ll notify your insurance company and meet with the adjustor.
9. I’ll fix your car for whatever amount the insurance adjustor agrees to
pay.
10. You don’t even have to pay your deductible.
11. And since we’ve already got the paint in the gun, we’ll fix those little
door dings and scratches on the other side of the car that were there
before the accident. No extra charge.
12. You’ll get back a car that’s better than it was before the accident.

47. DEALING WITH REJECTION (PT. 4)
 1. They need to stay on the air long enough for
people to hear them and remember their
message. That’s when they’ll begin to see results.
 2. Then they have to wait for the listener to need
them.
 3. The longer they stay on the air, the deeper the
message goes into memory and the better it
works.

48. DEALING WITH REJECTION (PT. 5)
 1. The advertiser with a weak message, often repeated,
will prevail over a competitor with an equally weak message
less often heard. When weak vs. weak, frequency is a
tiebreaker.
 2. The advertiser with a weak message wrapped in
cleverness and humor will prevail over a competitor with an
equally weak message wrapped in a brown paper bag.
 3. The advertiser with a weak message and a big ad
budget will prevail over a competitor with a strong message
that never gets heard.

49. 3 KEYS TO A SUCCESSFUL PRINT AD
1. Write for the EYE, focus on VISUAL
2. Write for the BUSY EYE
3. Keep your TARGET MARKET in mind

50. KEY #1 TO A SUCCESSFUL PRINT AD
 Print ads are VISUAL
 A catchy headline
 Art, Photos, Illustrations, Clip Art, Shapes, etc.
 Design in an interesting, intriguing, attention getting
manner
 Use WHITE SPACE effectively
 Use no more that THREE typefaces
 Draws the reader’s eye to your LOGO
 Use COLOR to grab the reader’s attention

51. KEY #2 TO A SUCCESSFUL PRINT AD
 Write for the BUSY EYE
 Capture the attention of potential customers
 Encourage them to remember what you want
them to do
 Persuade them to actually do it
 Print ads should have ONE message and ONE
message only
 CALL OF ACTION

52. KEY #3 TO A SUCCESSFUL PRINT AD
 Keep your TARGET MARKET in mind
 Ad message should focus on your CUSTOMERS’
NEEDS not YOUR OWN
 Sales are effective because it is saving
customers money
 Contests, free gifts, free food – think OUTSIDE
THE BOX
 Study other people’s ads

53. EFFECTIVE ADS
 AIDA: The Classic Formula for Effective Ads
 ATTENTION: Grabs readers’ attention with headlines,
type, white space and visuals.
 INTEREST: Make the copy interesting and benefit-
oriented.
 DESIRE: Make sure the copy answers readers’ most
basic question: “What’s in it for me?” People read ad
copy to find out how your product or service benefits
them.
 ACTION: Urge your readers to act now – and make them
do so.

54. EXAMPLE OF EFFECTIVE PRINT AD

55. EXAMPLE OF EFFECTIVE PRINT AD

56. EXAMPLE OF EFFECTIVE PRINT AD

57. EXAMPLE OF INEFFECTIVE PRINT AD

58. HOW TO FIND VALUE IN ADVERTISING
 Return On Investment (ROI)
 ROI=(Gain from Investment – Cost of Investment)
Cost of Investment
Example:
($20,000 profit - $2,000 advertising/year)
$2,000 advertising
ROI = 9 times

59. VALUES IN ADVERTISING
 Take 5 advertising solutions
 Travelhost, Accent Maps, KKTV, Echo Pages,
Independent, Gazette, Citadel Broadcasting
Radio, Westside Pioneer, Connect Colorado, 4
Military newspapers (Mountaineer, etc.)

60. GROUPING VALUES
 Total for all FIVE Advertising solutions is
$40,000/year
 Divide by 12 months = $3,333.33
 Divide by 20 Businesses/Merchants in OCC =
$166.66 per month

61. BRANDING & VALUE SOLUTIONS
 Both can be achieved through targeted
advertising for $166.66 per month for an entire
year.
 Branded as a business in Old Colorado City.
 Build name recognition with the other 19
participating businesses.

62. VALUE THROUGH BRANDING
 Value and Branding through collaborative
efforts rather than advertising on your own.
 Save money
 Save time
 Gain market share in this economy
 Must work together as a unit rather than one

63. EXAMPLE OF GROUPING PAGE

64. THE NEXT STEP
 What has worked for you?
 Why did it work?
 What is your demographic?
 What is your advertising/marketing budget for
2009? How do you figure out a budget for
marketing/advertising?
 Advertising-to-Sales Ratios

65. THE NEXT STEP
 Budgeting Your Advertising
 Common Mistakes:
 1.Habit – What you have always done in the past
 2.Looking in the cash register to see how much you
can afford today

66. THE NEXT STEP
 Why a Formal Budget?
 Firm control of your advertising investment
 In-store selling tie-ins to build extra sales
 Elimination of poorly times promotions
 Better response rates on individual ads
 Full use of cooperative ad allowances
 Time saved in ad handling

67. THE NEXT STEP
 How Much to Spend on Advertising and Promotion.
 Know and understand your competition.
 Analyze your performance.
 Note the number of selling days (last year to this year).
 Watch out for hot-selling items.
 Seek out all vendor co-op opportunities.
 Establish a clear traffic pattern that leads shoppers
past a variety of merchandise and makes it easy for
them to move through the store.

68. THE NEXT STEP
 Rule of Thumb
 If 10 % of your sales are made in a given month, you should
budget 10 percent of your advertising in that month. In the
example below, a typical jewelry store does 23.8 % of its
sales in December. Therefore, it should allow $3,265 for
December advertising.
Example
--------------------------------------------------------------------------------
$13,720 Annual advertising budget
X 0.238 10% of December sales
_______
$3,265 For December advertising budget

69. THE NEXT STEP

70. THE END…A NEW BEGINNING
 Thank you for participating in the Marketing
101 Workshop.
 Now go out there and market your business
with new enthusiasm.