5 Simple Rules for Digital Marketers

1. Listen, engage, and participate.  Measure social media initiatives and tie these measurements back to business value, but keep in mind: it's not a one-way street.
2. Develop a mobile strategy, but realize that mobile is not a channel - it's a platform.
3. No mater the medium or technology, marketers still need to deliver relevant and engaging content to customers.
4. Heard the terms marketing and ROI used together lately?  Take it to heart.  With tight budgets, allocating spending and measuring its ROI will continue to be a running battle in marketing departments.
5. It's too tough out there to commit budgets without a clear return in sight.  Being able to demonstrate value of marketing initiatives back to the overall business objectives is paramount (i.e. what the CEO cares about).

PHANTOM POWER
Marketing by Design
www.phantompower.co  

*Branded* Content is King

According to a recent study by the Custom Content Council and ContentWise, 78% of U.S. marketers plan to shift investments from traditional marketing to branded content marketing. More specifically, 62% are “moderately” making the shift, while 16% are pursuing it “aggressively.”

The study found that branded content marketing spending reached its highest level ever in 2011, just shy of $2 million per company. This accounted for 26% of overall marketing, advertising, and communications budgets for the year, and 30% of marketers expect their content budgets to increase in 2012.

Why content?

The top-ranked reasons are:

1. To educate customers (49%)
2. To retain customers (26%)
3. To increase brand loyalty (14%)

Similarly, marketers believe content marketing is more effective than:

1. Magazine ads (72%)
2. Public relations (69%)
3. Direct mail (69%)
4. Television ads (62%)

Is your brand pursuing a branded content marketing strategy?

PHANTOM POWER

Marketing by Design

www.phantompower.co

How to Monetize Social Media

As someone who provides Social Media Marketing solutions, both on behalf of employing organizations and clients, I am often asked... "OK, I am onboard, but how do you make money from all of this?"

I am a disciple of Inbound Marketing.  I believe in this day and age this is a philosophy that works.  It's simple in theory; create great content, promote that content via social media, attract qualified leads and convert those leads into customers.  Many Marketers out there work in conjunction with sales.  I personally have been in positions where the Marketers job ends at garnering qualified leads and passing those leads off to sales to close.  But Marketers are often tested by sales... what am I supposed to do with this information.  Marketers are often frustrated by sales when they don't jump on such qualified lead data... this is an age old quandry between the two departments and why I contend there must be a happy marriage between the two departments... but that is a story for another day.

Today's story... How Marketers can help themselves by helping sales monetize their social media efforts.

Companies are not only getting the word out about their brands using social media such as Facebook and Twitter but are also making money.

Many businesses have not found sites such as Facebook, Twitter and YouTube useful in making money. Building genuine online relationships that are also good for the bottom line is not so easy. There is a lot of trial and error. But while monetizing social media is difficult it is not impossible. There are companies that are getting the word out about their brands using social media and are turning a profit.

Take The New York Jets. The NFL team launched their Ultimate Fan social game in September 2010, which was the first revenue generating Facebook app to be backed by a pro sports team. The application lets football fans do online what they would normally do at home and in stadiums—root for their favorite teams and players, predict game scores, and hold a virtual tailgate party with other fans from across the globe. Ultimate Fan has since lured four major sponsors integrating their brands: MetLife, Motorola, SNY and HotelPlanner.com.

The Jets also communicate regularly on Twitter. They even advertised a Twitter-based contest to win tickets to their 2011 AFC playoff championship game against the Pittsburgh Steelers. The Jets are able to engage with their fans and make them feel like they are part of the team. They are leveraging social medial to capitalize on their fans' passion for the team and their willingness to share that fervor.

Like many companies, your social media efforts have started small and grew organically. To capitalize on those efforts to generate sales and revenues you need to have a team of people dedicated to your social media presence. You also will need a deep understanding of your audience, a creative vision, and a way to measure results in order to execute a successful strategy.

Here are some ways your social media can be monetized…

How to Monetize Social Media: Build Brand Awareness

The first step is to use traditional media or word-of-mouth advertising to drive awareness and traffic to your Twitter, Facebook, and YouTube pages. Unless you already have a recognizable brand like Nike or Apple, your brand needs to develop social media magnetism before you can look to make any money. You also need to create circular momentum across many platforms when designing your social media campaign. By providing multiple channels for users to talk with you, you let customers choose the channel that they are most comfortable with, by doing this you increase the likelihood that they'll connect with your brand in any number of ways.

How to Monetize Social Media: Engage Your Audience

Social media is about having a dialogue. When you have a dialogue with a customer or prospect, the communication is much more fulfilling and much more profitable. The PETCO brand has developed a strong presence in social media. The pet store chain has a YouTube channel, its Facebook page generates a lot of discussions among pet owners, and there's lots of activity on its PETCO Scoop Blog, which has received hundreds of “Likes” and Comments. PETCO's customers are true pet lovers and treat their pets as part of the family. The company tries to keep conversation going by aiming Facebook and Twitter posts so that there's an explicit question to answer, or at least a specific piece of information to which people can react. You have to know your community and know how to take part within that community and through that create great content or conversation that will raise awareness and increase sales.

How to Monetize Social Media: Offer Special Promotions

Dell Computers exemplifies a company that is selling products using social media. Its Twitter page, @DellOutlet, offers discounts exclusively to followers. Dell might tweet 15 percent off any Dell Outlet laptop or desktop with a special coupon code entered at checkout so they'll know which tweet you are seeing. @DellOutlet also points you to a specific web page. There is some interaction in terms of chats with tweeters. @DellOutlet has garnered more than 1.6 million followers and generated more than $2 million in incremental revenues for Dell. Traditionally, Dell would have spent a lot of money running print ads. Today, they can write a 140-character promotion to reach customers.

PETCO is yet another example. The company provided a promo code to their customers for $40 in free shipping. The person who shared their code with the most people won a $500 PETCO gift card. About 40% of the sales that resulted from this promotional push came from new consumers. The desire to save a few bucks drove loyal PETCO customers to connect with the larger pet owner community and spread the word about the store via social media.

How to Monetize Social Media: Use Media Advertising

Many companies have used display advertising (banners) and contextual advertising such as Google AdWords. Many bloggers use Google Adsense to make money. There are plugins to help; you make money from clicks. There are also ad networks that you can join that pool several advertisers. You get a code and banner ads rotate from their network. This is an item that you will want to include in your advertising rate sheet. Major advertisers who buy display ads are finally beginning to figure out how to reach audiences through social networks, and have begun to shift significant dollars into Facebook.

Instead of a typical banner ad, consider offering a microsite, which would be equivalent to a paid supplement. For example, you could devote one page (a link on your website) specifically to an advertiser's products and services. Or you can become an affiliate. With affiliate marketing you get paid to refer people to another business.

Consider combining rich media advertising with display advertising. Video advertising and promotional material can be quickly and easily streamed to your social community. Another consideration is charging for sponsorship on a monthly, quarterly, or annual basis. Of course, attention needs to be paid between balancing the delivery of the rich media advertising against the comfort level of your customer base.

How to Monetize Social Media: Brand Within Applications

The best way to use apps is to create something that is functional such as a calculator, entertaining such as a game, or provides some sort of social connection such as an app just for your community. Your app can be fee based or you can give it away to build a relationship with customers. A number of well-known company brands use mobile apps to interact with their loyal customers, including Target, Coca-Cola, Nike and Gucci.

The fashion designer touts a luxury lifestyle application that is a quintessential example of branded mobile marketing. Through "Gucci Connect" users were able use their mobile devices, such as iPhone or iPad, for virtual access of a Milan fashion show, watch live runway and behind the scenes video coupled with live chat between virtual guests through Facebook and Twitter. Exclusive also to iPhone app subscribers are interactive games. The "Gucci Live" section features a music channel. Subscribers stay "in the know" with a calendar of upcoming brand events and feature articles. The Gucci "Little Black Book" provides recommendations to the hottest restaurants, nightclubs, and hotels in various cities throughout the world.

How to Monetize Social Media: Set Up Shop on Facebook

Facebook fan pages are another way to generate sales and enthusiasm especially if you have loyal fans that follow your updates. You can list your products on your Facebook page for fans to easily share with their own friends and essentially allow your product offerings to go viral.

Businesses are increasingly selling their goods on Facebook. There are various e-commerce solutions available. One is 8thBridge which is helping companies like 1-800-Flowers and HuateLook sell from Facebook. A special deal 8thBridge ran for the designer brands retailer HauteLook along with fashion designer Diane von Furstenberg generated more than $100,000 in sales in one day, 40 percent of which came from new customers. Users were given a $10 coupon for every new member that they brought in. Using 8thBridge, 1-800-Flowers is drawing people into buying flowers and other gifts for friends and family while they are already thinking about them on Facebook.

Payvment is another storefront option that provides online stores for companies to sell on Facebook. It has a network of more than 60,000 merchants using its self-serve technology. Payvment generally serves smaller clients while 8thBridge caters to small- and medium-sized businesses. According to a study released by Forrester Research, Facebook is more suitable for small retailers, niche products, or steeply discounted items. Most of the benefit that big retailers get from Facebook is branding their company but not actual purchases, Forrester further reports. Moreover, some products are inherently social such as books, DVDs, and event tickets, which have been successful because they are easy to buy and sell online.

How to Monetize Social Media: Use as a Retention Tool

Companies don't always need to use social media as a sales tool or to acquire news customers, they can use it as a customer retention tool. If someone likes or follows your business, it's because they're interested in hearing from you on some regular basis. It's important that you have a routine schedule for your blogs, tweets, and postings. Keeping your fans and followers up to date on what's new and happening with your business or industry will keep them engaged with you and keep your brand top-of-mind. 

What have you done to monetize your social media marketing efforts? 

PHANTOM POWER
Marketing by Design
http://www.phantompower.co/  

THIRD THURSDAY

If you’re reading this I can assure you that you are one of the coolest people you know.  THIRD THURSDAY, a promotion sponsored by PHANTOM POWER, is open to all Fans of PHANTOM POWER on Facebook and Followers of PHANTOM POWER on Twitter.

It’s called POINTS FOR PERKS and this is how you play… Each THIRD THURSDAY, PHANTOM POWER will offer up some extra pocket change, event tickets, music and sports memorabilia and more.  On the  THIRD THURSDAY of each month a prize will be posted via PHANTOM POWER’s social network’s and you’ll have 36 hours to cash in your points to collect!*

STEP 1
“Like” PHANTOM POWER on Facebook and/or
“Follow” PHANTOM POWER on Twitter.

STEP 2
Each time you “Share” or “Retweet” a message from PHANTOM POWER earn 1 point.
TIP! “Like” and “Follow” … The more shares and retweets, the more points.

STEP 3
Cash in your POINTS FOR PERKS! 

*POINTS FOR PERKS giveaways are in limited quantity. 
Winner(s) will be chosen at random and will be notified by the last day of each month.

**Points expire at 11:59PM each THIRD THURDAY of the month. 
Participants can start earning points again the very next day!

PHANTOM POWER
Marketing by Design
www.phantompower.co 

About PHANTOM POWER
PHANTOM POWER is a full-service marketing, interactive and public relations agency specializing in the arts, entertainment and small business solutions. We offer a full range of services traditionally performed by large advertising agencies or in-house marketing departments — all in a fraction of the time and at a fraction of the cost.

PHANTOM POWER distinguishes itself through its ability to consistently produce marketing campaigns that are inventive in form, sound in concept and return big business results at small business rates.  Certified in the Client Needs Analysis process, PHANTOM POWER's Marketing by Design approach ensures customized service and personal attention to your needs.  It is the foundation for designing an integrated marketing plan unique to your goals and objectives.

Established in 1999, PHANTOM POWER's roots are in music marketing and promotion.  Since that time we have grown to successfully deliver marketing campaigns for over 100 clients; from entrepreneur through Fortune 500 brands.  We are based in Highlands, NJ - where the Jersey Shore begins.
 

101 Small Business Marketing Activities

One universal small business goal is to sell the business's products and services. This is usually best accomplished by positioning the business in front of the target audience, and offering something they can't refuse or find elsewhere.

To this end, one of the smartest things a small business owner can do for their business is take the time to develop a small business marketing plan that will set them apart from the competition. A marketing plan clearly outlines how you will reach your ideal customers by effectively implementing your marketing strategy.

There are thousands of ways you can promote your small business. With the right mix of activities, you can identify and focus on the most effective marketing tactics for your small business. Here is a list of 101 small business marketing ideas to get you thinking about all of the different ways you can promote your business.

Do you have an idea of your own not listed here? Add it under Comments.

Marketing Planning

1. Update or create a marketing plan for your business.
2. Revisit or start your marketing research.
3. Conduct a focus group.
4. Write a unique selling proposition (USP).
5. Refine your target audience and niche.
6. Expand your product and service offerings.

Marketing Materials

7. Update your business cards.
8. Make your business card stand out from the rest.
9. Create or update your brochure.
10. Create a digital version of your brochure for your website.
11. Explore a website redesign.
12. Get creative with promotional products and give them away at the next networking event you attend.

In-Person Networking

13. Write an elevator pitch.
14. Register for a conference.
15. Introduce yourself to other local business owners.
16. Plan a local business workshop.
17. Join your local chamber of commerce.
18. Rent a booth at a trade show.

Direct Mail

19. Launch a multi-piece direct mail campaign.
20. Create multiple approaches, and split test your mailings to measure impact.
21. Include a clear and enticing call to action on every direct mail piece.
22. Use tear cards, inserts, props and attention-getting envelopes to make an impact with your mailings.
23. Send past customers free samples and other incentives to regain their business.

Advertising

24. Advertise on the radio.
25. Advertise in the Yellow Pages.
26. Advertise on a billboard.
27. Use stickers or magnets to advertise on your car.
28. Take out an ad in your local newspaper.
29. Advertise on a local cable TV station.
30. Advertise on Facebook.
31. Advertise on LinkedIn.
32. Buy ad space on a relevant website.
33. Use a sidewalk sign to promote your specials.

Social Media Marketing

34. Get started with social media for business.
35. Create a Facebook page.
36. Get a vanity URL or username for your Facebook page.
37. Create a Twitter account.
38. Reply or retweet someone else on Twitter.
39. Setup a Foursquare account for your business.
40. List your business on Google Places.
41. Start a business blog.
42. Write blog posts on a regular basis.
43. Start social bookmarking your online content.
44. Create a Groupon.

Internet Marketing

45. Start a Google Adwords pay-per-click campaign.
46. Start a Microsoft adCenter pay-per-click campaign.
47. Comment on a blog post.
48. Record a video blog post.
49. Upload a video to YouTube.
50. Check your online directory listings and get listed in desirable directories.
51. Set up Google Analytics on your website and blog.
52. Review and measure your Google Analytics statistics.
53. Register a new domain name for a marketing campaign or a new product or service.
54. Learn more about local search marketing.
55. Track your online reputation.
56. Sign up for the Help a Reporter Out (HARO) email list.

Email Marketing

57. Create an email opt-in on your website or blog.
58. Offer a free download or free gift to make people willing to add their email address to your list.
59. Send regular emails to your list.
60. Start a free monthly email newsletter.
61. Use A/B testing to measure the effectiveness of your email campaigns.
62. Perfect your email signature.
63. Add audio, video and social sharing functionality to your emails.

Contests, Coupons and Incentives

64. Start a contest.
65. Create a coupon.
66. Create a "frequent buyer" rewards program.
67. Start a client appreciation program.
68. Create a customer of the month program.
69. Give away a free sample.
70. Start an affiliate program.

Relationship Building

71. Send out a customer satisfaction survey.
72. Ask for referrals.
73. Make a referral.
74. Help promote or volunteer your time for a charity event.
75. Sponsor a local sports team.
76. Cross-promote your products and services with other local businesses.
77. Join a professional organization.
78. Plan your next holiday promotion.
79. Plan holiday gifts for your best customers.
80. Send birthday cards to your clients.
81. Approach a colleague about a collaboration.
82. Donate branded prizes for local fundraisers.
83. Become a mentor.

Marketing with Content

84. Plan a free teleconference or webinar.
85. Record a podcast.
86. Write a press release.
87. Submit your press release to various distribution channels.
88. Rewrite your sales copy with a storytelling spin.
89. Start writing a book.

Marketing Help

90. Hire a marketing consultant.
91. Hire a public relations professional.
92. Hire a professional copywriter.
93. Hire a search engine marketing firm.
94. Hire an intern to help with daily marketing tasks.
95. Hire a sales coach or salesperson.

Unique Marketing Ideas

96. Get a branded tattoo.
97. Create a business mascot to help promote your brand.
98. Take a controversial stance on a hot industry topic.
99. Pay for wearable advertising.
100. Get a full-body branded paint job done on your company vehicle.
101. Sign up for online business training to revamp, expand and fine tune all of your marketable skills.

There are many more than 101 small business marketing ideas. Do you have an idea not listed here? Add your small business marketing idea to the list.

PHANTOM POWER
Marketing by Design
www.phantompower.co  

Contributions by Alyssa Gregory

Become A RAINMAKER!

Here is a FUN exercise that I have found successful in getting new business.

There are FOUR graduating steps that are part of every sale:

1. Get a lead, referral or introduction to a decision maker
2. Get an appointment with a decision maker
3. Complete a CNA with a decision maker
4. Get a comitment to a close or to an action that leads to a close (proposal/estimate)

Assign one point to Step 1, two to Step 2 and so on...

Work toward getting TWENTY POINTS a week in ANY combination.

 

On the top of your daily to-do list put GET 4 POINTS... don't wait until Friday to try and get 20.

 

If you tally 4 POINTS PER DAY you will never run out of prospects, your pipeline will always be full and you will become a RAINMAKER!

 

PHANTOM POWER
Marketing by Design
http://www.phantompower.co/  

Why Is It Important to Evaluate Your Competition?

As simple as it sounds, competition is the key to short-term success, while innovation is the key to long-term success.

To succeed in today's marketplace, you must differentiate from the status quo by offering products or services that are more innovative or competitive in terms of quality, image or price.

It is important to seek information about your competitors and use to innovate. By doing so you will be able to:

• Evaluate your own performance against others
• Identify and exploit competitors weaknesses
• Address competitor strengths
• Get new ideas
• Identify new prospects
• Improve sales forecasting
• Stay strategic

There are also other benefits, which are arguably more important, but difficult to measure.

Competitor intelligence helps you to:

• Reduce complacency and improve discipline within your own business
• Foster an acceptance of continuous change
• Respect that other suppliers have satisfied customers and reasons for it
• Create a recognition that the business must continually seek to improve

Here are some key questions you may want to begin with when analyzing your competition:

Who are your competitors? There’s a little more to this question than meets the eye. You may find that you compete with different suppliers in the different product/service areas or markets in which you operate.

What do they offer? Find out what makes up their entire product range or service portfolio. Of course you are more interested in the products and services that you compete with, but remember that they are making decisions about resource allocations to their entire portfolio.

What is their pricing policy? Customers will usually consider carefully the price of your products or services in relation to your competitors. It isn’t always good to have a lower price. For example, if your price is lower, is your quality or are your costs also lower? If the price of your products and services is higher than other suppliers, are you providing additional customer benefits? Do customers recognize and value these benefits?

Who are their customers? Consider the different types of customer groups that your competitors are supplying.

How do they promote themselves? How are they attracting new customers? How active is their marketing activity? What does their marketing mix consist of?

How financially secure are they? Company accounts can provide much useful information, and enable you to make direct comparisons.

What are their strengths and weaknesses? You have potentially collected a lot of information about your competitors. Listing their strengths and weaknesses is a good way to summarize this information in a meaningful and usable form. Perform a SWOT analysis on yourself and your competitors. See: How to Conduct a SWOT Analysis

What is their business strategy? If you understand your competitors, you will be able to predict what decision they are likely to make in a given set of circumstances. This insight is extremely valuable to you.

From all the information you have obtained, you can build a picture of the key characteristics of your main competitors that will enable you to make intelligent deductions about their overall business strategy. From their you can enhance your own offerings that are more innovative or competitive in terms of quality, image or price ultimately gaining marketshare.

PHANTOM POWER
Marketing by Design

www.phantompower.co  

Online Audience Development for Content Owners

It is true when they say content is king. But "relevant" content is key to success. All publishers need to make sure they have the right content for the right people in their audience.

How is the online content consumed?

A pull strategy (bringing people to your online content) requires SEO/SEM or display advertising to acquire the audience. This can be expensive.

A push strategy (delivering content to the people) is likely going to be key in getting cost-effective results and ROI. The best way to do this is delivering relevant content in a timely manner via email. In this case content is targeted to individuals based on their preferences and behavior.

Here are some more on some /pull techniques:

• Search engine optimization and search engine marketing Seems obvious, but how many publishers do this? If you publish media in a given space, the huge number of topics that your publication or Web site covers makes SEO/SEM a totally different challenge.
• Co-registration This is easier said than done for publishers that sell advertising, but basically the idea is that anytime someone signs up for an e-newsletter subscription on another Web site that's topically related to your Web site, you negotiate a relationship whereby your newsletter subscription is offered as another checkbox on that other Web site's e-newsletter sign-up form. Not surprisingly, Marketing Sherpa uses this tactic on a lot of marketing vendor sites. One advantage: They have a paid content model, so there's no conflict of interest. I'd like to see an example of an ad-supported publisher doing this with suppliers in their space.
• Landing page optimization I know most publishers aren't using this technique. The idea is that the very design and layout of the sign-up page (for our purposes, called the landing page, the place where the moment of truth occurs, when readers decide whether or not to opt in to your site, newsletter, magazine, advertiser white paper, etc.) greatly influences the number of readers who "convert" or complete the form. By testing different versions of the page, you can increase conversion by up to several hundred percent.
• Tracking/Analytics This is the adroit use of Web analytics programs to give you feedback on metrics that are meaningful to publishers. How many people subscribed to which e-newsletter products, and which were the most effective sources of traffic, both internally and externally? If you're doing paid search, which keyword groups yielded the best ROI? Which should be scrapped? Anyone doing paid search without tying it to some ROI metric is throwing their money down the drain.

Do you have a system for determining the relevancy of your content?

PHANTOM POWER
Marketing by Design
http://www.phantompower.co/  

What Time of Day Are You Most Creative?

One of the first lessons I learned in college was to learn what times of day you are personally most productive. It takes some time and discipline, to monitor one's own efficiency, but in the end, I do not believe there is ONE time of day that is best for everyone, I believe it is up to YOU to decide.  

Unfortunately, professionally speaking, we often don't have the luxury to CHOOSE what time of day we want to brainstorm. As a marketer, I find "mind mapping" an extremely effective exercise to spark creativity.

Mind Mapping is a technique used to enhance thinking processes. Whether while taking notes during class, brainstorming a process or creatively collaborating on a project, it allows the user to record raw facts and pieces of information that fit together but that might not be noticed otherwise.

• Starting a Mind Map is easy. Simply write the name of the subject you are interested in the center of a blank piece of paper and draw a circle around it. All further levels will work from this starting point.
• Important facts or questions make up the second level. These are connected directly to the center point. For example, if using “Tell a Story” as the central idea, the second level could be the standard “Who, What , Where, When, How” questions.
• Delve deeper for more information. From this second level, all additional levels are connected. For example, under the “Who” heading, there could be sub-levels of “Who are the characters” and “Who is the audience.” Additional levels and ideas are placed on the Mind Map making sure they connect somewhere to the diagram. Using colors coded to the levels you are working on can also assist with the visual information. If one part of your map connects to another, link them.

To get more information on Mind Mapping, there is a video on YouTube of Tony Buzan explaining the concept.

PHANTOM POWER
Marketing by Design
http://www.phantompower.co/  

The Loyalists Shall Take You To The Promised Land

Members pay an annual fee to belong to a retailer's loyalty program and they receive discounts on the retailer's most popular products, invitations to member-only events, and reward vouchers for reaching certain spending levels.

What other creative ways can this retailer reward its loyal customers?

Your customers are swimming in messages. And they’re being pursued by countless brands. How can you keep their attention, their time, and their dollar?

Gone are the days of a one-size-fits-all loyalty program. Building a creative campaign that your customers will respond to can only begin once you have a clear understanding of their buying motivations. By using real insights you can cultivate stronger relationships customers so your brand stands out. Ultimately your message motivates action… then your bottom line.

Depending on what inspires your customers craft programs which also meet your internal objectives along with actionable metrics for program refinement. More common loyalty program objectives include:

• Stimulate sales and improve gross margins

• Encourage purchase of new and better/best products
• Establish competitive differentiation
• Motivate employee performance
• Boost retention of high-value customers
• Build stronger long-term relationships
• Drive key behaviors

To understand what your customers truly value, conduct focus groups, one-on-one interviews and quantitative research. From this, determine the core elements needed to create a lasting relationship with your customers.

The mandatory requirements for an effective loyalty program are – Creative Conceptualization, Feasible Program Development, Systematic and Time Bound Program Execution and Measurement. 

Here are some proven loyalty concepts which can be customized to your customers buying motives:

• Club Cards (pay for membership for regular discounts, points programs, reward vouchers)

• Email Only Promotions
• Premium Shipping Clubs (for ecommerce)
• Subscriptions (asking customers to go steady and purchase product to be fulfilled at regular intervals)
• Service Extensions
• Recycling Programs
• Loyalty Affiliates
• Gift Reminder Service
• Value Propositions (Not loyalty per se, but extremely successful in customer retainment; think Zappos.com and their exceptional customer service)

Marketers are racing to keep up with customer expectations for personalized services and wnhancements, and well-designed loyalty programs are a tremendous opportunity to communicate directly with enticing offers that will keep customers coming back.

"The dogs on Main Street howl
'cause they understand
If I could take one moment into my hands
Mister I ain't a boy, no I'm a man
And I believe in a promised land"

- Bruce Springsteen

PHANTOM POWER
Marketing by Design
http://www.phantompower.co/

Five Major Marketing Challenges Faced by Event Vendors and Ways to Cope

Special guest post by Jeff Copeland, owner of Simple Weddings and Tampa Bay Search.

I’m a marketing guy, and I’m also a wedding vendor. Sometimes the two complement each other nicely. But the wedding industry is unique in many ways and, frankly, wedding vendors are sometimes better off ignoring traditional marketing and advertising advice aimed at other industries.

Here are five major challenges faced by businesses in the wedding industry and some ways to cope with them:

1.   Marketing to a steady stream of new prospects instead of a “cycle” of repeat customers

The wedding industry is unique in that you only get one shot to market to your prospects. Generally speaking, couples only get married once. So, even if they are absolutely thrilled with the service you provided, they aren’t likely to be a repeat customer anytime soon. This fundamental difference from many other industries makes a lot of typical marketing advice null and void, and makes things like email marketing very difficult.

Ways to cope:

• SEO – Increasingly, today’s brides and grooms aren’t picking up the yellow pages or watching many television commercials. They get their news and entertainment online, and if they need something, they Google (or Bing) it. You have to be there when they search! If you have not invested the time and effort in search engine optimization, you are missing more and more potential customers every day. [Check out my "What the Heck is SEO?" series and "How Google Instant Affects SEO and What It Means for Your Website" for more info]
• Social Media – Granted, your wedding clients probably aren’t coming back. But their friends might! That is what makes social media platforms such as Facebook so powerful. If your happy clients “friend” you on Facebook, all of their friends and contacts are introduced to your Facebook profile. Some of them may be in the wedding market soon.
• Reviews – When you shop for something on Amazon, what is the first thing you read about a product? I don’t know about you, but I always scroll down to the customer reviews section before anything else, and it’s often the only thing I read before making a purchase. Your prospects are hungry for feedback from people who have already used your service…feed them! Choose a single, reputable platform (such as Google Places, OneWed, or WeddingWire) to capture all of your customer reviews and make getting these reviews an integral part of your follow-up with clients after their wedding (we have had great success by offering a free gift such as a wedding picture). And most importantly, make these reviews prominent and easy for new prospects to find and read!
• Diversify – Think of some ways you might be able to get your wedding clients to come back or use your skills  and equipment for other related opportunities . Family portraits (for photographers), vow renewals, other special events? 

2.   The long buying cycle

Brides and grooms often have a very long lead time from the time they enter the market until their wedding date. What this means for you as a wedding vendor is brides may be checking out your website, blog, social media presence, and customer reviews a year or more before their wedding day, and possibly months before they even contact you.

Ways to cope:

• Quality content – Give your prospects a reason to keep coming back! If a bride visits your website or blog, saves you to their favorites, then comes back a couple of months later only to find nothing has changed, she probably won’t come back a third time. It’s fine for your website content to be relatively static (as long as it is current and accurate), but you can always add pictures from recent weddings or stream your blog’s RSS feed to your website to keep things fresh.
• Blog – Your blog, on the other hand, needs to have a steady stream of quality fresh content. You should be posting your favorite pictures from your recent weddings, planning tips, advice, and guest posts from industry professionals on a regular basis in order to give your prospects a reason to come back on a regular basis. Remember, if nothing else, time spent looking at your website or blog is time spent staring at your logo!
• Pictures – I can’t stress enough how important it is to have high quality pictures on your website, blog, and social media presence. Brides love pictures. Let me repeat that – BRIDES LOVE PICTURES! And this is one area where the wedding industry has a leg up – If you’re not a wedding photographer, chances are you work with a few on a regular basis. Most would be thrilled to share some of their work with you for display on your website or blog as long as they are credited for the picture. 

3.   The seasonal nature of bookings, weddings, and cash flow

In most areas, January and February are the busiest time of year for wedding inquiries and new bookings (people tend to get engaged over the holidays and start their wedding planning after the first of the year). Unfortunately, the holidays and the beginning of the year also tend to be the slowest time of year for actual weddings – meaning your cash flow is probably at its lowest at the very time you need to be out there advertising to new brides!

Ways to cope:

• While it’s sometimes easier said than done, try to save some money and plan your advertising spending for maximum impact. Often, this means spending as much as 50% of your annual advertising budget from January through March in order to lock in those Spring and Summer weddings.
• Consider offering payment plans. Many wedding vendors take a deposit when the wedding is booked, then collect the remaining balance on or just before the wedding date. If a couple has six months or more between the time they book and their wedding date, consider letting them make interest free monthly payments in the months leading up to their wedding. This has the double benefit of spreading out your cash flow more equitably throughout the year, and decreasing the likelihood of cancellations. 

4.   The Economy, Stupid

Every wedding vendor knows that our industry closely follows national economic trends. Let’s face it, many wedding services are “optional” and aren’t absolutely necessary to ensure a beautiful wedding. When the economy goes south, so does wedding spending by brides and grooms-to-be.

Ways to cope:

• Go where the money is - consider offering lower cost alternatives to your typical services or well-conceived discounts to brides on a budget or including more services in your current prices.
• Partner – could you package your services with those of another vendor (or group of vendors) to offer a broader range of services and increase the perceived value to your prospects? 

5.   Low cost competition

Some segments of the wedding industry have low barriers to entry. Let’s face it, anyone with good organization skills can call themselves a wedding planner, and anyone who can afford a decent camera could conceivably take someone’s wedding pictures.

Ways to cope:

• Educate your prospects and clients – many of your prospects would be shocked to find our how much your equipment cost or how much time you spend on pre- and post- wedding activities. Pull back the veil (no pun intended!) and give them an inside look at how you prepare their wedding venue or edit their wedding pictures [Note: Your blog is the perfect place to do this!]. If your prospects and clients really understand your art, they’ll value it accordingly.
• Build your brand – Imagine you are looking at two rental cars. You have to choose one for your trip, but both are under a cover, and all you can see is the hood ornament. One says Mercedes. The other says Kia. Which one do you choose and why? Obviously, Mercedes is the stronger brand, and (all other things being equal) consumers will choose the trusted brand everytime. Your brand has value. I want to stress that this has nothing to do with your logo, and everything to do with your business model, marketing, copywriting, and reputation. This takes time to build, but it serves as insurance against upstart competition!
• Find your target market – Once you truly understand your target market, the competition dwindles. This is called your unique selling position. Focus on doing one thing and doing it like no one else can. If you are truly unique, there is no competition, is there? 

PHANTOM POWER
Marketing by Design
www.phantompower.co