Tag Archives for " marketing advice "

BNBranding small business DIY branding

The DIY mentality and small business marketing (2 clearly different paths)

BNBranding logoSmall-business owners are naturally self-reliant. We’re all in business for ourselves because we have that classic, American mentality that says we should get our hands dirty and pull ourselves up by the bootstraps.

Damn the torpedoes!

According to the SBA there are 27.9 million small businesses registered in America and  22.5 million of those are “non-employer” companies.  That’s a lot of one-person firms.

Not only that, the vast majority of those small businesses are started by technicians… Skilled specialists such as lawyers, auto mechanics, programmers, artists, plumbers or writers.

BNBranding small business DIY branding

They’re experts in a trade, not in business. They might not have one speck of experience in small business marketing, management, finance, or any other business discipline.

They just know how to do the work.

These tenacious, small-business do-it-yourselfers often make the fatal assumption that because they’re good at the technical work of a business, they understand the business itself.

That’s just not true. A plumber knows how to run pipe, fix leaks and do the work. He doesn’t necessarily know how to run a plumbing business.

That’s the crux of The E Myth, by Michael Gerber. If you have a business, or are planning to go into business of any kind, you need to read that book.

the E Myth on the Brand Insight Blog top 100 branding blog

There’s a big difference between a DIY business owner and an entrepreneur.  The DIY business owner creates a job for herself. The business is entirely dependent on her own skills.

The entrepreneur creates an enterprise that’ll provide jobs for many. It’s built with an eye toward growth and a future acquisition by a corporation. It’s bigger than any one person.

As Gerber puts it, the DIY owner goes to work IN the business, the entrepreneur works ON the business.

The DIY owner does all the small business marketing herself. The entrepreneur hires smart people who implement a systematic approach to marketing.

Marketing strategy first, then tactics. 

The DIY owner is constantly scrambling to make widgets and get them out the door. The entrepreneur creates business systems that automatically deliver the widgets.

Architects are almost always DIY owners. Just because you can design great buildings doesn’t mean you can run a great architecture firm.

Talent, by itself, isn’t a guarantee of success.

Yet here’s what often happens: Two or three key people in an established architectural firm leave with a few clients, just knowing they can do it better on their own. But then they start a company that’s cut from the exact same cloth as the last place they worked. They use the same accounting software, the same small business marketing strategy, the same fee structure, and even the same value proposition.

The only thing that’s changed is the location and the letterhead.

The two founders dive right into the work of architects, and they neglect the work of an entrepreneur or manager.

So why are they surprised when they run into the same challenges and problems that their former employers experienced?

Those two DIY owner architects have to do a lot more than just architecture. They also have to wear the marketer’s hat, the manager’s hat, the HR hat and the entrepreneur’s hat.

It’s a tall order.

Nobody’s good at everything. Plus, it’s human nature to gravitate toward what you’re good at, and neglect the other stuff. So in most small businesses there are many tasks that get shoved to the side.

If you’re starting a business, or if your current business is stagnant, do an honest assessment… are you a DIY owner, or a true entrepreneur?

small business marketing by BNBranding

There’s nothing wrong with creating a job for yourself and just being a busy, DIY business owner. You probably won’t ever become a multi-millionaire, but you can make a good living doing the work you love. And you’ll enjoy the freedom that many people covet.

Cheers to that!

If you decide to be a DIY owner, some word of mouth advertising and a little bit of social media might be the only marketing tactics you need.

But if you want to grow your business and be a successful entrepreneur, you’ll need much more than that. You’ll need a systematic approach to marketing, and to your entire business.

If you want to be an entrepreneur you may have to stop doing the work you really love. Either that, or you’ll need to find a true entrepreneur to partner with… an experienced business person whose skill set will balance nicely with your skills as a specialist.

Here’s an example of a specialist who approached his business as an entrepreneur from day one.

In 1985 Scott Campbell graduated from OSU Veterinary School and bought a small-animal veterinary clinic called Banfield Pet Hospital in Portland, Oregon. But instead of spending all his time treating fleas and ticks, he immediately started working on the business model.

Campell’s brand was built with one clear purpose in mind: To provide a better level of care for pets and a better model for the veterinary care industry. He did everything that Michael Gerber recommends in The E Myth…

He devised a long-term strategy. He built new business systesmall business marketing in the veterinary industryms and installed computers. He hired BNResearch to do market research and carefully track customer satisfaction. He basically reinvented the way vets do business.

Scott Campbell didn’t work in his business, he worked on it.

In true entrepreneurial fashion, Campbell took the lone, Banfield Pet Hospital and built it into Medical Management Inc, (MMI). When the company was acquired by Mars, Inc. in 2008 there were over 500 Banfield Pet Hospital locations worldwide, each doing approximately $2.5 million a year.

That might make Scott Campbell the world’s first billionaire veterinarian.

He wasn’t just passionate about pet care. Every vet is passionate about that. He was obsessive about building a business that would provide better health care for pets around the world.

Every DIY business owner is passionate about her line of work. Otherwise, she wouldn’t have gone into that business in the first place. But very few are obsessive about the business of their work.

Most artists are intensely passionate about their painting, or their photos, or their poetry or whatever. But they’re not obsessive about the business part of it. On the contrary… Many absolutely hate it.

But here’s what you need to realize if you’re going to be a successful, DIY owner: You don’t have to do everything well in order to succeed, you just have to do a little more than the next guy.

Yeah. The bar is surprisingly low when it comes to small business marketing and management.

Most of your competitors will also be DIY owners who are NOT following Gerber’s advice. So if you just work ON your business a little bit, you’ll have a competitive advantage over those who only work IN their businesses.

A good place to start is with your marketing.

These days, marketing is a ridiculously confusing jumble of options.  Very few small business owners can navigate all that, and still keep up with all their other duties.

So put on your entrepreneur hat, for just a minute. What would she do differently?

She’d hire an experienced marketing person to manage all the moving pieces and put some systems in place that would produce long-term growth. And in the process, she would make life way easier for herself.

That’s the secret to success for DIY owners… find at least one key task that you hate to do, and outsource it to experienced pros. That way, you’ll have more time to work in the business, doing what your love.

If you decide to make the leap in the entrepreneurship, well, either way you’re going to need some help with your marketing. If you want to take your business to the next level give me a call at BNBranding. 541-815-0075.

Looking for more insight on small business 

Keen branding

branding and marketing? Try this post.

 

5 the 4 Ps of Marketing BNBranding

The 4 Ps of Marketing – Plus one for Ecommerce

Every year, thousands of American E-commerce startups are launched with nothing more than a whim and a prayer and website. Most will fail. Some will muddle through, doing nothing particularly amazing, beyond staying afloat.

But a few will experience meteoric success and become iconic brands. (Think Zappos)

What’s the difference? Why do some e-commerce start-ups succeed while so many others come and go faster than a bad Chinese restaurant?

Often it’s for the same reason that traditional, brick and mortar businesses fail:

They ignore the 4 Ps of Marketing.

Many people in the on-line world seem to think you should abandon everything that was taught in Marketing 101 simply because they have a new distribution method. Apparently, the rules don’t apply to ecommerce entrepreneurs.

Nonsense. You don’t have to reinvent the wheel just because you’re only doing business online. You just have to take a little different route.

Take, for example, the traditional 4Ps of marketing: Product, Price, Place (distribution)  & Promotion. It’s an old-school notion that’s just as applicable today as it was in the heyday of Madison Avenue. However, there’s at least one new P you should also seriously consider.

But before we get to that, let’s look at the originals that make up the 4 Ps of Marketing. Consider it a handy refresher:

1. Product

There’s an old saying in advertising circles… “nothing kills a crummy product faster than great advertising.”

These days, it happens in hyper time.

Blogs, tweets, and consumer-generated reviews doom bad products faster than you can type “#bankrupt.” So the first P is more important than it’s ever been.

Thirty years ago, if you had pockets deep enough for a sustained mass media campaign and a good creative team, you could you could go to market with a mediocre, me-too product or service.

Not anymore. These days your product or product line-up has to be among the best in class. Because people expect more. They’re looking for something compelling — and genuinely different — that’s built in to your core product or service. In other words, the marketing needs to be baked right into the product.

Seth Godin Purple Cow BookSeth Godin talks about a Purple Cow or a “Free prize inside.”

Tom Peters talks about the pursuit of WOW!

Whatever. The fact is, Product still is, and always will be, the single most important P of the 4 Ps of Marketing. Doesn’t matter if your business is providing the latest, greatest mobile web technology, or an old-fashioned widget, Product comes first and all the other P’s fall in line from there.

2. Price.

I’m no expert on pricing, but I know this: Smart pricing strategies are more important than ever. Here are just a few of the reasons:

• The internet enables us to make more intelligent purchases than we did 15 years ago. We’re doing more research and minimizing “bad”purchases and buyer’s remorse. We’re still willing to pay a little more for premium brands, but we’re not going to get gouged. And we’re much more likely to price shop, since it doesn’t involve driving all over town.

• In the world of e-Business you can’t just apply the old “cost-plus” pricing model. It’s way more complicated than that. Even though internet-based businesses tend to have high margins you have to work really hard to develop sustainable revenue streams. In order to build a loyal following and, ultimately, generate revenues, many companies don’t charge anything.

• It’s harder than ever to compete on price. Unless you’re the size of Amazon or Walmart, forget about it! There’s always some other website waiting to undercut your price. You might be the low price leader in your little town, but now people are searching the world for a measly little discount.

So you have to go back to the first P.

You have to devise a product or service that has a perceived value that’s higher than your competitor’s, but a sale price that’s equal or lower.

Apple has adamantly stuck to their premium pricing strategy. It keeps them honest. It’s one of their brand fundamentals. They know they have to keep launching products that are superior in design and function. They understand price elasticity and the value of their brand.

3. Place.

The traditional third “P” refers to distribution channels and the placement of your product in stores. Basically, where and how you sell your product. This is still one of the most fundamental elements of any solid business plan.

Look at Costco… They said, we’re a wholesaler, but we’re going to open our warehouses to the public.

That’s a big idea. A purple cow based on the 3rd P.

Even though you may be selling your product strictly over the internet, Place is still critically important. In fact, you could argue that the internet, as a distribution channel, has actually added complexity to the decision…

Will you sell on Amazon? Use Amazon fulfillment? Start an affiliate program and let other web merchants sell your products? Will you warehouse some products, or drop-ship everything? Sell to specialty brick & mortar stores at wholesale? Thanks to the internet, there are all sorts of possibilities.

One thing’s for sure, when your website is your only storefront as well as your #1 marketing tool, you need to make sure it’s absolutely fantastic on every level. 

Messaging. Content. Ease of use. Overall design. Product presentation. Back-end functionality. It’s all important.

BNBranding how to choose the right message for your ads

 4. Promotion.

Historically, the fourth P revolved around mass media advertising. Sure, there were other elements such as sales promotions, telemarketing, PR and direct response, but advertising was the heart of it. And many businesspeople equated advertising with marketing.

These days, a lot of people seem to think social media is synonymous with marketing.

But social media is just another marketing tactic… Just another way to spread the word about your product or service. There are dozens of other tactics you should consider once you’ve devised a clear brand strategy.

Insight first, then execution. Strategy then tactics.

Once again, the internet complicates matters… Where there used to be just four or five you now have dozens… Content marketing, You Tube videos, paid search, Facebook posts, Twitter, Snapchat and a hundred other online options complicate the mix. The marketing landscape isn’t so much a landscape these days, as it is a landslide. Most business owners are overwhelmed by all the “marketing opportunities” out there.

And don’t forget packaging, which has always been lumped into this category. If you’re doing business exclusively online, your website is, essentially, the packaging.

But here’s the good news about the 4th P: The internet offers advertisers what they’ve always wanted: definitive, trackable ROI on every ad placement. Tracking those click-throughs to conversion allows you to hone in on the message that’s most persuasive and eliminate the promotional efforts that don’t pull.

So that’s a brief on the traditional 4P’s of marketing. Think you can afford to ignore any of them?

What about the new one I mentioned?

The biggest complaint against the original 4 P’s was this: They’re designed from the top down, around what the company wants, rather than what the consumer really needs. They’re too inwardly focused.

So here’s a new P for your consideration:

marketing perspective BNBranding 5. Perspective. The consumer’s perspective, to be precise.

Companies that thrive today are the ones that embrace the perspective of the consumer. Not the 1980’s idea of the consumer as one, massive heard of lemmings. We’re talking about individuals. Real people who are involved and engaged with your brand.

How do you do that?

It starts with market research in its most basic, fundamental form. It’s what Tom Peters calls “strategic listening,” and he contends it’s the most important job of any C-level exec or business owner.

Strategic listening requires that you set aside your existing perspective and listen without prejudice.

Some people simply can’t do it themselves… they’re too far inside the bottle to see clearly. So get some professional help. Talk to your front-line employees, customers, non-customers, competitor’s customers. Do it on the phone. In focus groups. In on-line chats. On Twitter or Facebook. Doesn’t matter. Just do it.

The point is, you’ll come away with a new perspective about the genuine wants and needs of your potential customers. And that insight is what weaves all the other Ps together.

It should be the starting point, not an afterthought.

You may have to change your product or revise your service. You might have to rethink your pricing structure, shift your promotional strategy or adopt an entirely new business model, but it’ll be worth it.

Because then you’ll have a business built on a foundation of solid marketing fundamentals… five P’s. Put them all together, and sustain the effort, and you’ll have one big, iconic B:  A Brand.

Want more on the 4 Ps of marketing and the fundamentals of branding: Try this post.

Need help getting that new perspective you need.  Call 541-815-0075.