The Isolated Entrepreneur

Source: Forbes, “The Single Greatest Marketing Tool“, Lisa LaMotta, 7/24/07

Forbes released a great article about how public relations/press releases are the “single greatest marketing tool”. Amazon and Google appeared in some 13,000 news articles in the last 30 days alone.

The main benefits are that it is free and it creates buzz about a company and its products - the same buzz that is repeated all over the Internet in blogs, on forums, and in social networks. (more…)

It is very important for businesses to understand their customers and their shopping habits.

EMarketer released a great article, “College Perfect for Word of Mouth“, that summarizes several recent studies on the methods Americans use to gain information about products.

A study by Youth Trends shows that the top two methods college students use to gain information about a product are word of mouth (friends & family) and TV.

Only 29.6% of people over 65 use there friends and family for product information.

Who hasn’t heard of the new Apple iPhone?

Not many. AND most of it has been free.  If you google “iPhone” you will find it as a topic on many blogs, forums, and other Web 2.0 sites.  It has also been an article in most major newspapers.

This is the magic of the Internet.  Apple’s iPod is so successful, that it generated this free press for its new product automatically…. Everyone’s talking about it.

This is a great example of word-of-mouth advertising.  =-)

Are you looking for a calendar that contains holidays of multiple countries that you can use for marketing?

AWeber posted such a calendar on their blog.  The calendar is in both HTML and iCal format for easy loading into your PIM.

In a recent Harris Poll, 91% of those interviewed said a store’s return policy is an important factor in making a purchasing decision (San Francisco Chronicle, “Customers want rules of returns clearly spelled out by merchants,” July 4, 2007).

A return policy was created to give customers the guarantee that the display models they see in stores (and images/descriptions they see online) accurately represents what they buy.

A return policy has more significance in purchasing decisions made online, than at brick-and-mortar stores because the customer cannot physically hold the product.

In your major store franchises, you will find the return policy clearly posted on a large sign by the registers and at the customer service desk.  An abbreviated version of the return policy is also written on a customer’s receipt.

On e-commerce websites

• Display a link on every webpage to your return policy.  Most online stores, such as AppleStore.com, have the link at the bottom of the page.
• If you have a long legal description of your return policy, create a summary section with key information and post it above the legal description.
• Include information about how shipping is handled for the returned item.  Do you pay for the shipping of the returned item?  Do you send a replacement item before you receive the returned item?  Do you include a shipping label in the the box with the replacement item?
• When shipping the product, include on a piece of paper or on the receipt your return policy.
• Train the staff that answers well how to handle returns and, more importantly, exchanges.  Use scripts and training sessions to run through different scenarios.

Example: A Return with L.L.Bean

I purchased a cross country ski package for my husband two years ago from L.L. Bean for Christmas.  It turned out the boots were too small.  I called L.L.Bean customer service.  The representative explained their return policy and immediately ordered replacement boots for me.  My credit card was charged for the replacement boots.  I would be credited for them when L.L. Bean received the boots I was returning - minus the cost of shipping the too-small boots back.

The package with the replacement boots included a shipping label I would use to return the other boots.  To return the boots that were too small, all I needed to do was pack the boots in the packaging the replacement boots were in and adhere the new shipping label and take it to the post office.

Would I use L.L. Bean again even though I had to pay for the shipping of the returned item?  Absolutely.

Why?

• A replacement was sent immediately.  I didn’t have to wait until I returned the original item.
• Customer Service that was friendly and could easily tell me how the exchange was done.
• A shipping label for the returned item was included with the replacement item.  There were two labels:  one for FedEx, one for Postal Service.  This allowed me to decide which method would be easier.
• The ability to use the same packaging that the replacement item came in to return my item.  All I needed was tape to close the box.

I was in a local shopping area Friday on my way to a doctor’s appointment. In the main corridor there are several cars on display and a large sign for the local dealership.

These vehicles were covered with dust - at least a month’s worth. People wrote all over them. There was the usual “wash me” sign as well as several derogatory slogans.

Is this the impression the dealership wanted to make?

Advertising Needs Maintenance.

All advertising initiatives you make require maintenance - whether it is the occasional dusting of a car or the weekly submission of store specials to a local paper.

Every advertisement you place should be reviewed periodically for performance.   Your staff should ask customers where they heard about the business and record it so you can analyze what type of advertisement works best.

How effective is advertising your business on the side of your car?

If you are an independent contractor or provide another in-home service, it can be very effective.  A vehicle with the company name on it, is free advertising.  It let’s others know that you have provided a service for one of your neighbors.

I, personally, have asked my neighbors about something they have had done after seeing a service vehicle at their home.  My neighbors have approached me as well.

We have called a chimney care company after seeing a sign on one of their trucks in the neighborhood.  We couldn’t remember the name, but the phone number (1-800-chimney) was easy to recollect.

A local business man, the Poop Scoop King, get a significant amount of referrals from vehicle signage.

Advertising on vehicles is similar to other advertising.  There has to be something memorable about it.

• The person has to have a need for the service or product.
• The person knows the neighbor you are servicing and asks he or she about your company.
• The phone number is easy to remember.
• The company name is memorable.

Remember, you want to leave the right impression.

• Keep your vehicles clean and well maintained.
• Have friendly personnel operating your vehicles.
• Make sure the writing is easy to read.

Did you know that a person gets bombarded anywhere between 300 to 3,000 ads a day through the Internet, magazines, newspapers, junk mail, TV, etc? (see source below)

We have developed mechanisms and products (TiVO, spam filters, pop-up blockers) to avoid and ignore these advertisements.  When I surf on the web, I use a pop-up blocker and very rarely do my eyes stray from the actual article I am reading.

If a website is so cluttered with ads that it is hard for me read the information I came there for, I go elsewhere.

When I watch TV, I channel surf or turn off the sound during commercials and talk with family members until the program starts again.  People with TiVo or recorded programs fast forward past the commercials.

So What Kinds of Ads Stand Out?

Ads with a new twist.  People are likely to take notice if a commercial is edgy or something unexpected happens.

Interestingly enough many of these commercials get panned in focus groups.  =-) So if you are going for something different or extreme, don’t use them.

Source: “In a Cluttered Mediaverse, Some Ads Stand Out.” Elizabeth Blair, NPR’s All Things Considered, May 22, 2007.

Superbowl commercials year round.

Ahh… the Superbowl.  People look forward to more than the game.  They expect very funny or edgy commercials.   Why wait until the Superbowl?

Here are some tips from MarketingProf’s Get to the Point eNewsletter from May 14, 2007.

• Have your designer start out working in black and white so that you can focus on the design, not the color.
• A simple shape and design goes a long way.  Think of the Nike and Coca-Cola sign.
• Color counts, but don’t pick it because it is your favorite.

A survey recently released by Retail Advertising and Marketing Association (RAMA) conducted by BigResearch, investigates how effective magazine ads are at getting readers to log onto the Internet and do a product search.  This survey, known as SIMM 9, is conducted two times a year. 15,287 consumers were surveyed.

•  47.2% began an online research after viewing a magazine ad (newspaper 42.3%, TV ad 42.8%, article 43.7%).
• 41.8% of women were motivated by coupons while only 29% of men were motivated.
• 29% women and 24.5% men were motived by in-store promotions.
• 36.1% men were motived by a face-to-face conversation while only 29.5% women were motivated.
• 68.9% tell others about their search (53.1% email, 50.9% telephone, 30% cell phone)

• 92.5% regularly or occasionally research online before buying them in a store.
• Products most often researched are electronic (50.8%), apparel (31.9%) and appliances (27%).
• Men (20.2%) are twice as likely to search for automobiles than women (10.1%).
• Women (18.9%) research home decor items more than men (11.6%).

Source: “RAMA Research Finds Magazines, Television and Newspapers Prompt Online Research.” March 12, 2007, BigResearch.com (press release can be seen under News link)