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22Chapter 10 Advertising and Chapter 10 Advertising and PromotionPromotion
Developing a UniqueDeveloping a UniqueSelling Proposition Selling Proposition (USP)(USP) USP - A key customer benefit of a USP - A key customer benefit of a product or service that answers product or service that answers the critical question that the critical question that everyevery customer asks: "customer asks: "What's in it for What's in it for meme?"?"
Identify your product or Identify your product or service's USP by describing the service's USP by describing the primary benefit it offers primary benefit it offers customers and then list other customers and then list other secondary benefits it providessecondary benefits it provides
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Developing A UniqueDeveloping A UniqueSelling Proposition Selling Proposition (USP)(USP)
Briefly list a few facts Briefly list a few facts that support your product’s that support your product’s USP USP
Then focus your ads to Then focus your ads to stress these top benefits stress these top benefits and the facts supporting and the facts supporting them!them!
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A Six-Sentence A Six-Sentence Advertising StrategyAdvertising Strategy1.1. What is the purpose of this ad?What is the purpose of this ad?2.2. What USP can you offer customers?What USP can you offer customers?3.3. What other key benefits support What other key benefits support
your USP?your USP?4.4. At whom are you aiming the ad?At whom are you aiming the ad?5.5. What response do you want from What response do you want from
your target audience?your target audience?6.6. What image do you want to convey What image do you want to convey
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PublicityPublicity - any commercial news covered - any commercial news covered by the media that boosts sales but for by the media that boosts sales but for which the small business does not paywhich the small business does not pay
Personal sellingPersonal selling - the personal contact - the personal contact between sales personnel and potential between sales personnel and potential customers resulting from sales effortscustomers resulting from sales efforts
AdvertisingAdvertising - any sales presentation - any sales presentation that is non-personal in nature and is that is non-personal in nature and is paid for by an identified sponsorpaid for by an identified sponsor
Creating a Promotional Creating a Promotional StrategyStrategy
Tips for Stimulating Tips for Stimulating PublicityPublicity
Write an article of Write an article of interest to customersinterest to customers
Sponsor an offbeat Sponsor an offbeat event to attract event to attract attentionattention
Involve celebrities Involve celebrities “on the cheap”“on the cheap”
Offer to be Offer to be interviewed on TV and interviewed on TV and radio stationsradio stations
Publish a newsletter Publish a newsletter Speak to local Speak to local organizationsorganizations
Sponsor a seminarSponsor a seminar Write news Write news releases and fax releases and fax them to the mediathem to the media
Serve on community Serve on community and industry and industry boards and boards and committeescommittees
Sponsor a Sponsor a community project community project or support a or support a nonprofit nonprofit organizationorganization
Top Salespeople…Top Salespeople… Are enthusiastic and Are enthusiastic and alert to opportunities.alert to opportunities.
Are experts in the Are experts in the products or services products or services they sell and they sell and understand how their understand how their products and services products and services can help their can help their customers.customers.
Concentrate on select Concentrate on select accounts with the accounts with the greatest sales greatest sales potential.potential.
Plan thoroughly.Plan thoroughly. Use a direct approach Use a direct approach with their customers. with their customers.
Work from their Work from their customer’s customer’s perspective. perspective.
Use past success Use past success stories and stories and testimonial. testimonial.
Leave sales material Leave sales material with potential with potential customers.customers.
See themselves as See themselves as problem solvers, not problem solvers, not just vendors. just vendors.
Measure success by Measure success by customer customer satisfaction as well satisfaction as well as by sales volume. as by sales volume.
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Successful Personal Successful Personal Selling Requires a Selling Requires a Selling System Selling System 1.1. Prepare Prepare 2.2. Approach Approach 3.3. Interview Interview 4.4. Demonstrate, explain, and Demonstrate, explain, and
showshow5.5. Validate Validate 6.6. NegotiateNegotiate7.7. Close the sale Close the sale
Fundamentals of a Successful Fundamentals of a Successful AdAd
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Comparing MediaComparing Media
AudienceAudience – the number of paid – the number of paid subscribers a particular medium subscribers a particular medium attracts attracts
ReachReach – the total number of people – the total number of people exposed to an ad at least once in exposed to an ad at least once in a period of time, usually 4 weeksa period of time, usually 4 weeks
FrequencyFrequency - the average number of - the average number of times a person is exposed to an ad times a person is exposed to an ad in that same time period in that same time period
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Sponsoring Special Sponsoring Special EventsEvents Don’t count on sponsorships Don’t count on sponsorships for your entire advertising for your entire advertising campaigncampaign
Find an event that is Find an event that is appropriate for your company appropriate for your company and its products and services and its products and services
Research the event and the Research the event and the organization hosting it before organization hosting it before agreeing to become a sponsoragreeing to become a sponsor
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Sponsoring Special Sponsoring Special EventsEvents Try to become the dominant Try to become the dominant (or, better yet, the only) (or, better yet, the only) sponsor of the event sponsor of the event
Clarify the costs and the Clarify the costs and the level of participation level of participation required for the sponsorship required for the sponsorship up frontup front
Get involved in the event Get involved in the event
(Continued)
Advertising Media Advertising Media OptionsOptions
Word-of-mouth Word-of-mouth Sponsorships Sponsorships and Special and Special EventsEvents
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E-Mail AdvertisingE-Mail Advertising
Permission e-mail vs. spamPermission e-mail vs. spam Radicati Group study: 171 Radicati Group study: 171 billion e-mails sent per daybillion e-mails sent per day
71 percent of those are spam71 percent of those are spam Stick to marketing basicsStick to marketing basics
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E-Mail AdvertisingE-Mail Advertising
Collect customers’ and potential Collect customers’ and potential customers’ e-mail addressescustomers’ e-mail addresses
Make subject line short, Make subject line short, meaningful, and to-the-pointmeaningful, and to-the-point
Make the e-mail’s look and feel Make the e-mail’s look and feel consistent with your company’s consistent with your company’s imageimage
Send e-mails when customers are Send e-mails when customers are most likely to make purchasesmost likely to make purchases
Write copy that produces resultsWrite copy that produces results Use value-added items to increase Use value-added items to increase response ratesresponse rates
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Preparing an Preparing an Advertising BudgetAdvertising Budget What is affordableWhat is affordable Matching competitor's Matching competitor's advertising expendituresadvertising expenditures
Percentage of Sales Percentage of Sales Past SalesPast Sales Forecasted SalesForecasted Sales
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How to Advertise How to Advertise "Big""Big"on a Small Budgeton a Small Budget Hire freelance copywriters and Hire freelance copywriters and artistsartists
Use cooperative advertisingUse cooperative advertising Participate in shared advertisingParticipate in shared advertising Use stealth advertising Use stealth advertising Maximize publicity with techniques Maximize publicity with techniques such as cause marketingsuch as cause marketing
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How to Advertise How to Advertise "Big""Big"on a Small Budgeton a Small Budget Repeat ads that have been Repeat ads that have been successfulsuccessful
Use identical ads in different Use identical ads in different media media
Hire independent copywriters, Hire independent copywriters, graphic designers, photographers, graphic designers, photographers, and other media specialistsand other media specialists
Concentrate advertising when Concentrate advertising when customers are most likely to buy customers are most likely to buy
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