Recipe for Business Success

Posted by admin in Marketing on 11 13th, 2007| icon3

Recently, I was asked to participate in a recipe exchange program. Now, this is a laugh, as I pretty much only cook what comes in a box or bag - but it got me thinking about other types of recipes. Specifically, developing the right “mix” of ingredients to successfully promote your business in an integrated marketing campaign.

Basically, there are three primary “food” groups to promote your business: advertising, marketing and public relations. Of course, there are many subgroups within each of these groups, including direct mail, radio advertising, community relations, Web sites, marketing brochures, press releases and so on, but you get the idea.

As with any good recipe, it’s critical to have the right ingredients, in the correct quantities. A cake recipe asks for salt, but if you use a cup instead of a dash, the results are completely different. The same goes for promoting your business. If you focus too much of your efforts on television advertising, you may be totally missing out on people who might read about your company in their local newspaper. Likewise, if you believe that just having a Web site - no matter how good it is - is enough, you are missing out on many other opportunities to get your product or services in front of potential customers. Don’t be afraid to experiment. All good chefs do and masterpieces are created.

It can be difficult to determine what ingredients, and what quantities, you need. Carefully analyze each opportunity, making sure that it’s a good fit for your target audience - and of course, your budget. For example, don’t spend a small fortune advertising on a radio station that targets listeners who are 25-35 years of age if your product appeals to a more mature audience. We worked with a client once who wanted to advertise on Paul Harvey’s radio show. He thought it would give his company instant credibility, and it was what he listened to. Trouble is, his potential customers were more into Howard Stern! Radio, television, newspapers and magazines are happy to provide you with their demographics - that is, detailed information on exactly who their target audience is. After all, they want you to repeat your business with them, so they want you to be satisfied with the results.

In some instances, your product or service appeals to a very small audience. In that case, a good choice might be to advertise and provide potential articles in trade newspapers that are specific to the industry that buys your product. Attending trade shows specifically for this industry is also a good suggestion.

The “quality” of your ingredients is as important as it is in a food recipe. You may be tempted to go with the cheapest methods, but in the long run, you’ll get what you paid for. The old adage “if it seems too good to be true, it probably is” definitely applies. You may think that you’re saving money by printing your postcards on less expensive paper, but if it doesn’t hold up in the mailing process, then what good is it? A note though: cheap does not equal inexpensive. There are frequently ways to do something in ways to save money without jeopardizing the quality. It just takes research.

As with any good recipe, success doesn’t often come with the first effort. Rather, it’s a trial and error process, trying different ingredients, in different quantities. The key is to keep at it and don’t give up if your efforts aren’t immediately successful. One direct mail postcard is usually a waste of time, while six to eight may lead to good results. You may send out 10 press releases and the 11th one actually gets reprinted in the newspaper. The first 10 weren’t a waste of time; they helped build credibility with the media.

A great example of a very successful promotional campaign that utilized may different ingredients was the campaign by Frontier Airlines to send “Flip” to Mexico. Of course, not many businesses have the budget that Frontier does, but you get the idea about how you can utilize different methodologies to successfully promote your business. It will take practice - and you’ll have some failures - but if you keep at it, you will be successful.

One final note: as with any good recipe, you should periodically review your efforts to make sure that the methods you are using are still current and producing the results you desire. Don’t be afraid to update and change the mix of your ingredients. After all, yesterday’s television is today’s You Tube!

Confused about how to get your recipe for success right? We can help. Contact us for a complimentary one-hour consultation to review your marketing needs.

Deborah Krier, president and founder of Wise Women Communications, is a marketing and public relations professional with experience in media and public relations, internal and external communication, crisis management, integrated marketing campaigns, brand management, event coordination, Web site design and development, and community relations. She managed corporate communications programs for the Denver site of ING Group, served as a media and communications coordinator for the Rocky Mountain Region of the American Cancer Society, served as the director of public relations and account manager for Linnell & Soreide Marketing Partners, a full-service marketing and advertising firm. In addition, she provided lobbying support at a state and local level for Corporate Advocates, a Denver-based firm. Deborah holds an MBA degree with an emphasis in marketing from the University of Colorado and an MS degree in communications management from Colorado State University.

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