Tag Archives: small business marketing

Small Business Marketing 100 – Premiums Outperform Discounts

58% of US Facebook users EXPECT to gain access to exclusive content, events, sales, discounts or promotions for no better reason than clicking a "Like" button.

Talk about an over-weaning sense of entitlement.

These results from an Exact Target study are nothing new to us. But it is a little surprising that we haven't been paying attention to what it means for the sort of customer we're getting from social media.

Let's face it, the customers we're getting from social media are bargain hunters. They're only coming for a deal, and their loyalty doesn't last past the cash register. So why are we settling for such crappy results?

Probably, likely (in my opinion definitely) because today's social media gurus are stuffed full of old-fashioned - even mainstream - "throw-mud-against-the-wall-to-see-what-sticks" marketing concepts. They're the sort of person who thinks ads on Facebook are social media marketing.

Every marketing test done show that discounts bring in low quality customers. They also show that premiums consistently outperform discounts in terms of response rate, customer quality, and how long the customer stays with you. That's because there's a fundamental difference in attitude between the bargain hunter and the rewards shopper.

That's why credit card companies and airlines (and most other successful companies) have rewards programs rather than discount programs.

The obvious question at this point is what kind of premium can we use to tap into the other 42% of US Facebook users who might be of higher quality and deeper loyalty?

The answer lies in remembering that social media is also called Relationship Marketing. This week on SocialMediaCheapAndEasy.com we devote the entire show to exploring this topic.

The premium is the relationship, the conversation and the social interaction inherent to social media. It's also the key to the small business marketing goldmine: word of mouth advertising.

Listen to this week's episode on SocialMediaCheapAndEasy.com to discover four examples of conversations that are happening right now - and why they're happening. We also look at a small business that is connecting business owners with the conversations that are happening in social media.

And those conversations are not all happening on the "big" social media sites.

Many of them - and most of the conversations among buyers - are happening in a place that most of us have stopped thinking about.

Can Social Media Ever Be Profitable For Small Business?

It feels good to see research coming out that social media marketers believe a social media presence is more important than social media ads. It’s good because I’ve been saying that ever since Facebook introduced ads and called it social media marketing.

This week we look at that research, and more research that shows just what kind of customer small business is most likely to attract through what has quickly become the standard approach to social media.

Tune in to Social Media: Cheap and Easy to hear the details

To show the most effective means of using – and profiting – with social media, our second story looks at current examples of how everyday people are using social media. These are practical examples that show you what your customers want in their social media experience. If your small business is going to use social media profitably, you have a definite need to listen to what your customers want.

To see what works in action, our last story looks at an event that’s happening in Chicago. More importantly, we look at a small business that’s connecting business owners with consumers so they get meaning, and increased sales, from the relationship.

That’s really the theme of this week’s show – relationships. Hear it all at SocialMediaCheapAndEasy.com.

The market was fat for a long time. Long enough for small business owners to get the idea that all they have to do is “get their message out there” to pull in customers and profits. We also got the idea that customers were disposable. That’s a big part of why we now experience such atrocious customer service on a regular basis.

It’s also why small business owners are failing to engage or profit with social media. They’re so accustomed to easy sales that in this tougher economy they are unprepared for relationship marketing. That’s what social media is really all about. You’ll see that during the second story when we look at how it is that Sims Social, Occupy Wall Street, UAW contract talks and even Steve Jobs’ passing have become such popular topics.

Listen to the show today at SocialMediaCheapAndEasy.com, and leave a comment here so spark conversation.

Small Business Needs Fewer Marketing Channels?

Welcome to our newest members. 1485 new readers have joined us in the last 7 days. Your readership and participation are much appreciated.

There's been a sort of explosion in small business using websites, social media and e-mail over the last year. Unfortunately, the results aren't what everyone was promised. Let's have a look at what's happening and why.

A common - and very useful - marketing principle is that all businesses should use as many marketing channels as they can.

This means, for example, that a dentist (or any business) Continue reading

Improve Your Blog with People Watching – Day 13 of the 31 Day Challenge

Take a trip to the mall and improve your blog.

That's the title for Day 13, and it's why I didn't post yesteray. I was out people watching.

Actually, I went to Dyllan's school and volunteered in her classroom to help the teacher out. In the process, I was able to watch two ladies give a guest presentation, see how the teacher and students work together, and how the students reacted to having a stranger in the room (me being the stranger).

How often have you read or heard the advice "know your customer?"

Yea, me too. Probably about a million times.

So why is it that we are Continue reading

Your Editorial Calendar – Pt 2 of 2 – Day 12 of the 31 Day Challenge

It feels good to see the changes happening. A year from now, this blog will be much better in content, the plugins being used, and the amount of traffic it draws.

Can you imagine how good it feels to write that with confidence?

I was sitting at breakfast this morning and thinking about The Marketing Spotlight. Imagine how good it's going to feel - a year from now - when I have developed a membership site for business owners. In a year, there will be 2,000 subscribers paying a simple $9 each month.

Every member will be getting useful content, have a forum to discuss their issues, and be able to contribute to the site as a guest author. It's incredibly uplifting to see an article from someone new who is enjoying their successes - just as it's educational to hear from someone with experience.

Of course, the membership site will be at Continue reading

Your Editorial Calendar – Pt 1 of 2 – Day 11 of the 31 Day Challenge

This post was actually supposed to be done yesterday, but I got so wrapped up in the exercise for Day 11 that I completely forgot to write the post!

The exercise got me thinking about who are you - my readers? What do you want to read, and what do you need to read?

Terry Dean says you should always give readers what they want, and slide in what they need. Kind of like how our parents handled vegetables.  ;-0

Even though quite a few copywriters read this blog, they really aren't my focus. My interest and passion lies in helping business owners make Continue reading