Dec
10

Cheap Marketing That Works…

Let’s talk about inexpensive ways to get to your buyers:

Are you leveraging community newspapers?

And yes, this does apply if you are in a business to business market. You just have to look at what papers and newsletters (print ones) are going out to your ideal target market.

But, if you are targeting consumers, have a look at these numbers:

Community newspapers reach:

77% of affluent Canadians

75% of women

76% of parents

75% of homeowners*

(Community Media Special Report 2008)

(This is from a study in Canada, but the numbers would be the same anywhere else who uses quality community newsletters).

Who reads them?

The most recent survey showed that 74 percent of Canadian adults read the last issue of their community paper. That figure was even higher in some provinces; in Saskatchewan it was a record 83 percent. The study also revealed that 76 percent of adults with household incomes over $75K are regular readers, as are most adults with a university education. 50 percent of the surveyed readers do not read any daily newspaper at all.

Think about this now.

If you target a higher income family that you cannot reach via email or newspapers, this is a potential goldmine. 74% of your ideal buyers read the community paper regularly. They earn more money, they are better educated, and they are looking for appropriate products and services (see the survey below for more details).

The best part?

The price of community newspapers! To get a quarter page ad – $50. Full page (with color) – $150. That gets you in front of thousands of targeted prospects (you can choose which community you advertise in by the average income in the community, choose communities that have a higher percentage of golfers, have more than average numbers of school aged children, or have a significant number of boomers and seniors.

All it takes is a little research on your part and you can tap into a very powerful source of potential buyers.

To add to that… community newspapers are filled with crappy advertising! Yours done right, using the information you pick up for free through the Total Package, and you can get some exceptional results.

Definitely worthy of some testing.

Right now, with the economy as it is, people are travelling less and spending more time at home, and in their yards. What better way to reach them than through a paper that 74% of them open every chance they get.

Try and get that through email!

One other inexpensive marketing tool at your disposal

The lowly flyer

What amazes me with these little unsung heroes of direct marketing is the sheer impact you can get with minimal dollars invested.

Here in Canada, we can send “unaddressed admail” to as many homes or businesses as we want for $0.11/per piece. So we can go to 1,000 businesses for $111.

Where else can you get that breadth of distribution? For that price?

Especially now that you can do geographic and demographic targeting of those businesses and individuals?

Thompson Rivers University received a 1.43% response rate to its latest flyer campaign! Higher than the industry average for addressed direct mail… at a fraction of the price.

“The sheer volume and ability to geo-target by postal code keeps my cost per inquiry low and, in general, helps to build brand awareness.” Thompson Rivers University

These days, you can also very selectively target who receives your flyers…

Let’s say, for instance, you want to target upper-class households in central Canada with an interest in golf?

Targeting like this is not only possible, but cost-effective because it eliminates unreceptive audiences. Again, for $0.11/home.

There are firms that do this for little charge… and are a goldmine of great information for you.

Imagine the power you hold in your hands when you combine neighborhood community newspapers, combined with flyers.

You could be blanketing an entire community (or city) for very little money out of pocket.

You can select exactly the type of demographic you want reading it.

You can target their interests and hobbies.

And you can dominate your industry using little used techniques like this.

It doesn’t all have to be through email or in-house database work.

This is a VERY effective way to generate sales and build your prospect database…

… using very targeted, very effective tools available at your disposal.

If you have recently used these types of tools, let me know. I would love to hear what you did, how it worked, and if you had used it to it’s fullest ability.

Please let me know your thoughts.

Trying times call for more interaction and help from you!

Sep
29

Is Canada’s Business Community Oblivious?

I am a born and raised Canadian… so what follows is not anti-Canadian.  It is an observation of a dangerous trend I see Canada’s entrepreneurs following.

Canada is a great land filled with wonderful people… but the business community I see is wimpy. We have taken our ‘nice guy’ image too far… and it shows in our revenues and our profits,

For the past 7 years I have been consulting with entrepreneurs from all over the world… mainly the US, Canada, and Australia.  In many cases I also help them create marketing campaigns to launch new products or services, and to put bums in seats at seminars they host.

The problem?

Canadians seem to hate marketing.

They aren’t willing to invest the money in it, they aren’t willing to invest the time and money to learn how to do it right, and they aren’t competitive in many ways with companies who are good marketers.

Take this interview with Google:

Canadian businesses are not keeping up with consumers when it comes to taking advantage of the Internet, a senior executive at Google told a group of reporters at a press event in Toronto yesterday.

At a media session held at the search giant’s Canadian headquarters, Nikesh Arora, president, global sales operations and business development for Google, said that while Canada ranks among the top nations in terms of consumer usage, the volume of online advertising by Canadian companies does not reflect this sophistication.

“Canada has world-class Internet penetration and world-class broadband penetration, but what we find fascinating is that it’s not as competitive a business market,” said Arora. “The online adoption of businesses is not at par with the online adoption of consumers.”

According to Arora, failure to establish more of an online presence through search, display and video advertising could have adverse long-term effects on businesses as online research becomes more central to consumers’ business decisions. He added that Canadian firms were already missing out on opportunities to penetrate foreign markets in an increasingly borderless world.

“There’s a benefit that [businesses] can grab, but there’s also a risk if they don’t grab it,” said Arora, pointing out that international companies would fill the online void left by inactive Canadian advertisers.

In a nutshell: we are missing the boat and it is passing us by quickly.

International entrepreneurs are starting to get it and are taking our customers from us!  How? They are actually out there in front of the buying public… Canadians aren’t.

Another major study conducted by multiple international countries shows Canada is overly confident in their business building ability.

In fact, Canada is ranked near the top for high failure rates for entrepreneurs.  Why?  Because we think we are better at business and marketing than we actually are. We don’t invest the time or money to learn how to do it better… because we naively think we are already good at it.

And it shows!

Thankfully the tides are turning and I am seeing a large number of Canadian firms just starting to pay attention.  2 years ago, 85% of my consulting and copywriting clients were from the US.  Now, it is 50% US and 50% Canadian.  A trend I like to see.

This applies to any and every entrepreneur… not just us Canucks.

Don’t get too cocky about how smart you think you are… there is always someone smarter and someone willing to work harder to get the sale.

In a recession, you have to busy your butt to generate business… and sitting back on your ego won’t get you anywhere other than bankruptcy.

Get out there and market yourself daily.

Get out there and read a new book a week, or a month, on proven marketing strategies.

Get out there an do something… and get your ego off the chair and get BUSY!

To your success. Troy