The Concept of Inbound Marketing – The New Way of Doing Business
Inbound marketing is a marketing strategy that focuses on the ability of customers to find an intended brand, respective to its product and/or service.
Traditional avenues of marketing and advertising is considered outbound marketing. The traditional forms of media are utilized to target an audience. These include but are not not limited to the following mediums: TV advertising, print advertising, direct mail, trade shows, and cold calling.
Technology has allowed for replacement within outbound avenues, such as an inward approach to marketing. These avenues tend to be far more cost effective, and allow for businesses to capture an audience through non-intrusive means. These mediums include: blogs, social media,search engine optimization, webinars, and viral videos to name a few.
Why Inbound Marketing Makes Sense During a Recession
Today, many businesses are making solid efforts towards obtaining market share, with the understanding that it can be difficult during trying times. However, it is really never too late as long as you have a strategy and patience, both will allow for results over time.
As the economy has progressively slowed down, organizations have turned to Inbound marketing because not only is it an efficient means to target specific core target markets, but it is also about building relationships on multiple levels that were not possible through outbound marketing. You may not realize this, but inbound marketing costs less, which allows for you to naturally focus on your target market, and an investment that is not always going to be an ongoing expense.
For example, consider this scenario: You are a business on the precipice of growing, but you want to wait for additional operating income. You are afraid that if you take the capital and invest in inbound marketing strategies, your ROI may never see the light of day. The largest loss that many businesses do not take into account is the loss of time that could have been utilized to build a customer base, and create opportunities to market your product/service. Some of the methods or strategies can easily be managed by you, by creating an efficient yet effective turn-key process, which is virtually the best thing you can do for yourself.
Eleven years ago when the dot.com bubble burst, the notion of enterprise companies being able to build sustainable businesses was far and few between. However, as social enterprises have sprouted with combinations of both search engines and tools to help you monetize your investment. Many businesses have turned this into lucrative opportunities to succeed in business. Now more than ever, Internet Marketing is critical to your business and its success. It is an essential component to the survival and growth of any enterprise. Take the time to read through our Internet Marketing E-Book and consider avenues how these practical approaches can help position your business for success.
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Creating Your Brand Identity Small Business Marketing 101
This series includes:
Small Business Marketing 101
Step 1: Position and Plan
Step 2: Create an Identity
Step 3: Spread the word through Internet Marketing
Step 3: Spread the word through Internet Marketing
Step 5: Measure your Social Media ROI
If you were to take a stroll down your neighborhood, you will notice a variety of businesses that sell products and services, some of which are very tempting to the eyes. There will also be some that are doing exceptionally well, that have the Yelp! sticker on the window indicating that they are known and very well liked on the World Wide Web. You may or may not have heard of Yelp!, but it is an online product and services resource for entrepreneur’s and franchises alike. Did you notice that some of these businesses are just like yours, except that they may be taking measures to increase their business? In other words, they could be using the World Wide Web to get orders via e-mail, telephone, but not the traditional foot traffic. The environment has changed, people are now searching for products and services online, and if they can get same service with a click of a mouse, or a quick telephone call, 9 times out 10, they will continue to come back to you.
Now that we have your attention, if you were to walk into that same store you will notice that they have updated their storefront, have a distinct design and logo, perhaps a fresh coat of paint, investment in new technology, a innovative website, you get the idea. You sit there and think how can they afford such things in a recession? Well, it could be a variety of factors, but one thing is certain they managed to create an identity both traditional and non-traditional.
This is just one example of a business that is taking their marketing strategy to a competitive platform. There are several key issues to consider in the process of strategic design. You must take into account 10 fundamental criteria when you execute an identity for your business and/or organization. Keep in mind that this design should endure the test of time.
The criteria listed below will help you to execute your brand identity, or even assist you in asking the proper questions before you start the process – or at the least it will help you to get started!
1. Visibility
Take into consideration the typography and graphic treatment when you are working on your logo design. Many people make the mistake of overlooking the most important image of your business. From what we have come across, businesses sometimes are hesitant to make such changes not realizing that perhaps they could be losing out on potential business. Some questions that you need to ask yourself are: What is the message that you are trying to convey to your niche market? Will the logo withstand durability under the conditions of light, atmosphere, or different mediums? Will this logo capture my market?
2. Application
Many companies today use their logo through the use of applications. Examples include, but are not limited to, websites, print advertisements, newspapers, outdoor signage, silkscreen printing, embroidery, packaging, etc. It is important that your logo is compatible through any form that is applicable for your business.
3. Simplicity
You know that cliché ‘less is more’? Well, it is true. It is really easy to take a simple concept and turn it into a logo that is so complex that you won’t even know what it represents anymore. The golden rule is that the brands that hold the greatest equity today have embraced simplicity.
4. Differentiation
Does your logo allow your business to set itself apart amongst your competition? Does your target market understand the product/service that you will be selling/providing? However, if you were to ask yourself the following question then you might want to take a step back to create a new strategy. Does your mark have a similar look and feel as your competitors? If the answer is yes, you may want to consider a new direction.
5. Retention
Does your logo spark an interest to your target market? At first glance, will your logo be able to provide a quick recall, or will it get lost in the clutter pile with the rest of the images in the market?
6. Color
Don’t get so carried away with colors and the use of gradients. Technology is constantly changing so we can push the limits when it comes to presentation. It is important to begin design work in black and white, taking color into consideration as you progress. Keep in mind that despite the fact that technology is always changing, businesses today still utilize printers and fax machines that deliver in black and white. Make sure to take extra steps to ensure that your logo can be used in any medium without compromising presentation. Don’t ever take the risk of misrepresenting your brand. This can either make or break you.
7. Timeliness
Relatively speaking, logos used to last between 15-20 years. Today, the life cycle is approximately 5 years. Many companies redesign their logo to move forward with trends and they strategize to maintain themselves in the competitive market. It is important that your logo conveys your position in the market. It is not just about having the best look; it is about having a conceptualized meaning behind the logo that sells your product and/or service.
8. Modularity
How will the logo work with other design applications, images, and typography treatments? If you plan on having other marketing material, your logo should blend with ease when integrated into your supporting material. The last thing you want is for your logo to compromise your business, that would be fatal.
9. Descriptiveness
Will your logo be easy to read and interpret? Will it conceptualize your business? What will your target market say about your company when they view your logo? Your logo should positively describe your business, no matter what!
10. Equity
Will your logo be recognizable by a group of audience members? Will they be able to recall your logo ten to fifteen days later?
Designing a logo is a crucial part of a business. An indicia creates an everlasting impression on an organization, and what it will reflect as a business. Follow these ten steps to guide you through your strategic design process. After all, if you don’t put that investment into your business, then who else will?
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Position & Planning Your Brand Small Business Marketing 101
Our next few posts are going to be dedicated to small business marketing for the World Wide Web. The previous post was a comprehensive introduction to marketing for small businesses, and now we have expanded with steps to help you achieve your success. So get ready to start your brainstorming!
This series includes:
Small Business Marketing 101
Step 1: Position and Plan
Step 2: Create an Identity
Step 3: Spread the word through Internet Marketing
Step 3: Spread the word through Internet Marketing
Step 5: Measure your Social Media ROI
Step 1: Position and Plan
When considering your position in the market, or even more importantly the direction you want to take for business growth, there are many critical questions that must be answered before making any decisions. Position statements are used by organizations in order to help identify a clear vision of the direction of the company. These statements also take into account the perception of your market as well as other niche markets. Have your pen and paper handy, and start by answering these questions below:
1. Write down the name of your business, and your marketing message. (For example, you are a service provider that is in the event planning industry, and your unique sales point is that you can get the best deals for your clients).
2. Who does your company serve? In other words, who is your target market?
3. What does your target market typically shop for? Do they come to you? Or do they venture to your competitor?
4. What does your target market need?
5. Who are your competitors? There are two levels, primary and secondary. Primary competitors are those that directly compete with your business. Secondary indirectly compete with your business.
6. What differentiates your business from your competitors?
7. What are the unique benefits of your business?
These questions should have given you plenty of insight to evaluate the vision of your company. This will allow for you to formulate a clear and concise vision of your organization. Take notice of your competitors and how they identify themselves as a brand. What makes them a great company (this may sting but be honest), and what can you assess about their potential pitfalls? These evaluations will certainly enable to you distinguish what sets you apart from your competitors, and allow you to create a uniform positioning statement.
Stay tuned as we are going to be giving you Step 2 of this series in Small Business Marketing 101. If we can help national brands with their marketing, who says that an agency cannot help you? All you have to do is take notes, and if you really want to be a step ahead, make a small investment in our eBook. Both of these tools and resources will serve as the perfect guide in establishing your mark.
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