emm 8 class eight advertising trade shows branding

emm 8 class eight advertising trade shows branding -...

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Entrepreneurial Marketing emm 8 Advertising & Branding
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Topics lecture/discussion Brochures Trade Shows Branding Employee of character Discuss the “Rick’s Picks” case
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Advertise Early to bed, early to rise, work like hell and advertise” Gert Boyle, chairman
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Advertising 3 Objectives for the young company 1. Communicate product/service information—educate the prospect 2. Position product/service/company establish image 3. Sell $ 150 + billion yr spent on advertising
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Where does it go? TV reaches most , color/motion ; expensive 40% +10% Internet cheap, colorful : most unseen 20% +10% Newspaper coverage , quick; tossed 13% -4% Radio targeted, inexpensive; over quickly 10 % +8% Magazine targeted, pass along; position ? 8% +3% Outdoor repeat exposure, inexpensive; tacky? 4% +10% Direct Mail targeted , cost effective; tossed 2% +1% Other 3%
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One Example $7 mil yr. revenue company annual Marketing ad/ promotion Budget $ 100,000 (1.5% sales) planned allocation Magazine ad 6 @ $4,000 for full page $ 24,000 Brochure/collateral folder with inserts? 14,000 Direct Mail 250 in CRM, 3 a year 4,000 2 Trade [email protected] $ 10,000 20,000 News letter qtrly? Via Email 12,000 Website enhance & drive traffic 10,000 Give Aways with each shipment 10,000 Reserve 6,000
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Allocating $$ Resources warning for the young company Too many ad/promotion decisions made on faith. Can blow allot of $$ fast. Ask: Will this generate more than enough incremental profit margin to cover the expense? Make a few little bets; than measure results .
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Allocating $$ Resources 4 key decisions 1.Budget? 2.Where/when put $$? 3. How to gauge impact? Test ad, brochure copy on customers, prospects. Measure leads developed vs $ spent. 4. What do I Say?
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What to say? Copy strategy: you do first draft. Check with others who know customers Professionals can tweak and add appropriate graphics. Supportive/consistent with positioning & segmentation strategies. Solicit creative ideas from employees and customers. Hire agency or use a freelancer? Sales impact more important than creative impact.
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EDUCATE all prospects suffer from WIFM What’s in it For Me Be of value to prospects-inform them Connect your benefits to their problems …..via articles , white papers, blogs, website, newsletters, videos, brochures, ads, in person , telephone, trade shows SELL Solutions & Results not products & capabilities (tell happy client stories)
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Evaluate each option $7 mil yr company Magazine ad 6 @ $4,000 for full page $ 24,000 Track leads generated, impact on website traffic Brochure/collateral folder with inserts? 14,000 Customer , prospect, rep comments Direct Mail 250 in CRM, 2-4 a year 4,000 Track leads generated, impact on website traffic Trial & measure
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Evaluate each option $7 mil yr company 2 Trade [email protected] $ 10,000 $20,000 Track leads generated, impact on website traffic News letter qtrly? Via Email $ 12,000 Track leads generated, impact on website traffic Website enhance &drive traffic $ 10,000 Track leads generated, impact on website traffic Trial & measure
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Why young companies advertise?
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