The Four P’s of Marketing

Marketing isn’t easy, and without a proper marketing plan in place, your company may suffer. The main ingredients for a successful marketing campaign are the four Ps. These essential marketing items are product, price, placement, and promotion. To provide a positive experience for your customers, it is in your best interest to ensure that each P works with all the others.

It takes a lot of work and effort to determine what customers want and need, as well as identifying their shopping habits. Once these steps are taken, you will then need to produce your product, find the right price point, and promote it. All of these actions must be taken together to avoid problems. Let’s explore the four Ps of marketing, determine what they are, and how they work together.

Product

Your product is the heart of your business. It is near and dear to your heart, and if you’ve done your homework, it’s something that is unique to the market, allowing it to stand out from the rest of the competition. The challenge with any product, however, is remaining distinct and unique. From a product perspective, it is best if you have a solid understanding of what customers are looking for in regards to benefits and features.

It’s also imperative that you learn how they will use your product, that way you can make sure the product you’re offering fits their wants and needs. If the product doesn’t fulfill a need, it won’t be likely that customers will purchase it. Perform market research to have a good idea of ways your product will be used.

Price

Of course, your product is only going to sell if you set the appropriate price point. Your business will want to use production costs, projected fulfillment, and other key metrics to determine the proper price for your product. Make sure you are conveying the quality of your product to customers when considering the initial amount of your product. At the same time, do what you can to keep in mind how the price you select, along with costs of manufacturing and production, will have an impact on your product in the long-term.

Placement

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In today’s market, placement is no longer simply about identifying the appropriate retailers or best locations. There are now many other channels and outlets to give consideration when thinking about your product placement. Where is the area with the highest foot traffic? Which retailer is showing growth and expansion? What businesses does it make the most sense to establish a partnership with?

These are all questions you will want to consider when it comes to product placement, but you’ll all need to think about the digital aspect of marketing. Will you want to have a social media campaign? Ensuring your product is in a spot which will gain traction and attention in the market is the key to successful product placement.

Promotion

With the continued growth and immersion of our lives into social media, it only makes sense to promote and market your product online. This means that your product marketing needs to be multi-pronged, something that did not require as much attention in the past.

Nowadays, customers want to see the product first-hand. They want to interact with it, ask questions about it, get answers about it and learn more about the brand, all from the comfort of their home. Provide high-quality videos and content to your potential customers, and they will reward you with their loyalty.

Take time to understand each of the four Ps and how they can make or break your marketing campaign. Have a strategy for each ingredient, and focus on trouble spots that may disrupt a successful product. Pay close attention to the four Ps of marketing, but also consider other marketing resources which can accentuate and highlight your product. For more information on the four Ps and other marketing tips, subscribe to DFY now!

Why your Small Business Needs Periscope

In case you aren’t sure what Periscope is, it’s a live streaming video app that was purchased by Twitter in 2015. The allure of Periscope is that it allows you to ‘Go Live’ from anywhere, at any time, while anyone in the world can watch you via your mobile device.

There are over ten million users on the platform today, so needless to say if you’re not using it, you’re missing out on some markets that might be of use to your business. If you can conceive of any way your company can put Periscope to use, you should do so. Today.

So why does your small business need to be on Periscope? Let’s take a look at a few reasons.

Market Saturation

Or lack thereof. The market for Periscope isn’t as saturated as other social media behemoths like Facebook, Twitter or Instagram. It’s still in its growing phase, and hopping on board now would go a long way toward getting in ahead of the game.

Many large businesses have yet to make this technology a part of their marketing strategy, leaving plenty of opportunities for small companies to jump in and fill the gaps.

New Followers

A new social media platform means a new follower base. Those that follow you and your business on other social media sites are not necessarily the same ones that are going to follow you on Periscope.

The Periscope market offers a whole new list of bloggers, small business owners, and marketers that weren’t available before joining Periscope. Connecting with this group of followers provides the opportunity to move them over to your other social media platforms as well.

Engage in Real-Time

When it comes to engaging and responding to customers, nothing beats being able to see and react immediately via a live stream. Facebook and Twitter response times are nice, but customers will appreciate the immediacy and personal connection the Periscope provides.

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Today’s society seeks instant gratification – we want it now – otherwise, users will move on and find what they want somewhere else. Periscope allows for real-time engagement and gives followers actively involved in the feed the answers they are seeking in the moment.

Showcase Your Business

Periscope provides an opportunity to show off your business and show followers what happens behind the scenes. Customers want authenticity, and what is more authentic than looking directly at your followers as you speak to them live?

You are no longer a faceless brand or company; people get to talk and interact with you, which drives the personal connect aspect of brand loyalty. Natural and organic conversation leads to followers knowing, liking, and trusting you, which leads to future decisions made in your favor.

Untapped Opportunities

Since Periscope is relatively new to the social media marketplace, businesses are still learning how to use the platform to interact with customers. The opportunities are limitless, but most commonly companies will offer live tutorials, product releases, special promotions, or live shows. Use your business to come up with new and creative ways to promote via Periscope.

Build Relationships

Communicating in real-time with followers offers the opportunity to have a more meaningful and involved discussion with someone. It can be fun to fully engage with those that are invested in your company and learn more about one another.

Consider for a moment what Periscope is offering. Through what other method can you pick up your phone, point it at yourself and begin communicating immediately with people from all over the world? If you’re able to do a good enough job of interacting and engaging with your followers, they might just buy what you have to sell. Check out DFY’s lead generation system for more information.

How to Hire A Players

“I noticed that the dynamic range between what an average person could accomplish and what the best person could accomplish was 50 or 100 to 1. Given that, you’re well advised to go after the cream of the cream. A small team of A+ players can run circles around a giant team of B and C players.”

~ Steve Jobs

Hey,

I want to give you a tip which I first heard from a guy called Eben Pagan about managing people.

It’s especially useful if you have virtual staff.

And it’s really easy to do, for both you and the person reporting to you.

Here it is:

Get daily updates.

I’m not talking about updates which take 30 minutes to prepare.  I’m not talking about micro-managing a person right down to the point of knowing what time they went to lunch.

I’m talking about just a short 5 minute update, on 3 items.

Here’s how it looks:

You’ve just hired a new staff member.  They’ve been onboarded, and given some training on how to do their job.

You then send them a short message:

Hi [name], welcome to the team, I’m looking forward to working with you.

I have one request for you, which will help me to help you in your new role. 

It’s very important that it gets done daily, and it should only take you 5 minutes at most.

At the end of each day, I’d like you to send me a short message and answer the following three questions:

1.)  What were the main things you accomplished for the day?
2.)  What were the obstacles you encountered (if any)
3.)  Do you have any questions you need answered?

Please don’t spend more than 5 minutes on this each day – this is just to give me an overview, and so I can help you in the role.  Again, please make sure it gets done each day.

Thanks.

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The first thing you’ll notice is that a surprisingly large number of people struggle with this simple request.

In my experience, close to half the people I’ve asked to do this over the years will not be consistent in doing it daily for even their first 30 days.

So you will likely need to remind them a few times.  But if you need to remind someone more than 3 times in their first 30 days, that’s a big warning sign.

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Some people may say this is micro-managing.

It’s not.  It is perfectly reasonable for you as the business owner – and the person paying their wages, to ask for daily updates.

With this simple request, you can help that person get up and running in their role, and also evaluate quickly if they are going to be a good fit.

Whether you’re running a virtual team or have people coming into your office, get the update in writing.

Face-to-face conversations often drag on, and if you have a lot of staff, you could easily burn up a couple hours a day on this – which is totally unnecesary.

Getting it in writing is faster for everyone.

Plus, in the case where you’ve hired the wrong person, it’s good to have it in writing.  When you have to confront someone about their non-performance, you can sit down with them and go through the daily updates.

It will be immediately apparent to both of you that it’s not a good fit.

And in the case where someone could not be depended upon to provide the daily update (despite you reminding them up to 3 times that that it needed to be done), then it’s just obvious to everyone it’s not going to work out.

“If I can’t count on you to give me, the owner of the company, a simple daily update on what you’re accomplishing each day – then how can I depend on you to perform in this role.”

But let’s be clear;  requiring these daily updates is not about tripping someone up and coming up with reasons to fire them.

It’s to evaluate their performance, get to know their work style, and to get information on how you can best help them succeed in their new role.

If you have less than 10 staff currently, then it’s fine to have them all sending you these daily reports.

But if you have 50 or more… then it’s going to be too much information for you to process and stay on top of.

So each person can send their daily updates to their team leader / manager.

How big should each team be?

I like Jeff Bezos’s 2 pizza rule.  “If you can’t feed the team with 2 pizzas, then it’s too big.”

8 – 12 people is about right.

Also, these daily updates don’t need to be ongoing forever.  They are particularly useful for new staff in their first few months.

But as people prove they are self-starters and can be trusted to get their work done, then you can be a little more relaxed on requiring these daily updates.

 

 

 

Turn Key Business System

Hey there!

If you are a beginner in the online marketing business, there are 21 simple steps you must take to become a wealthy earner in this niche.

You can learn more about them when you watch this free video:

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http://turnkeybusinesssystem.com

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Former Survivor Winner Reveals the Skills You Need to Win

I was just reading an article by former Survivor winner Austin McCarty, and he gave some great tips on what it takes to win.

He said: “First it takes skill. You must be smart, socially adept, and able-bodied to win. Then it takes the ability to harness those skills. Any Survivor fan knows that countless capable contestants have seen their torches snuffed due to poor thinking, massive social blunders, and/or key physical failures. It is here that some contestants—but not many—are eliminated.”

If you want to “survive” in your online business, there are three important skills you need:

Skill #1: The Ability to Sell

The most important skill you need is the ability to sell. This skill is number one. If you can’t sell, you’re going to have a hard time making any money online.

Most people don’t like to sell. But this is a universal principle—If you want to do well in business, you need to know how to sell.

To sell in business, you’re persuasively describing the benefits, and talking them into paying you for your products and/or services.

Skill #2: The Ability to Write Sales Copy

Copywriting is the ability to communicate in writing and persuade someone to take action.

Good copy raises the awareness of your product to your target market. It shows how your product stands out from all the other competition. It quickly grabs him and paints a vivid picture how your product makes his life better. And to overcome his objections, you guarantee he’ll be 100% satisfied—or his money back.

You should also try to write as if you were meeting someone for the first time. Pretend you have 30 seconds to talk your new friend into buying into your online marketing company. The write down what you would say to sell them.

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Skill #3: Hire the Right People

If you want to blow this up really big, there’s absolutely no way you’re ever going to do it on your own.

When you hire a few key people to create an effective team, it can have a dramatic effect on your organization’s growth.

Once you build up the right team, it will help you scale to doing millions of dollars per year, tens of millions, even over a hundred million dollars per year.

And if you’re a beginner, or a “rookie” in the online marketing business, there are 21 simple steps you need to take before you can become an online millionaire.

For example, 22-year-old Steven Bransfield used these 21 steps to go from zero to over a million in less than two years.

In fact, he just published a new video explaining step-by-step exactly how he did it.

Watch the free video HERE. 

Talk to you soon,

Lisa Ashman

Online Marketing Myths You Probably Believe

Marketing online is already incredibly difficult. Sure, you have the entirety of the internet to appeal to, but it also means that you’re competing against countless other online marketers. The internet is a vast place and standing out against a sea of competitors isn’t an easy feat, but a successful online marketing campaign can easily bring you the customers you’re looking for.

Unfortunately, many marketers are far too misguided about what they think works and doesn’t work on the internet. Many marketers go barking up the wrong tree so to speak and end up wasting time and resources on fruitless endeavors. Here are just a few commonly held myths that end up hurting marketers:

Myth #1: We need to be on as many social media platforms as possible.

It’s true that you certainly want to get your message out to as many people as possible, but not all audiences equally deserve your attention. There are countless social media platforms to take advantage of–Facebook, Instagram, LinkedIn, Snapchat, Twitter, Pinterest, etc.—but that doesn’t mean you need to use all of them.

Each social media platform has a different audience and those audiences are all interested in different things. Do you think a company like Tastemade that markets by making cooking videos would have as much success on LinkedIn as they do on Facebook? Would a company for elderly people like Life Alert want to market on Snapchat where 71% of its members are under 34?

Rather than trying to spread yourself thin, choose the most ideal platforms and focus your efforts there. You can expand your marketing efforts when you can acquire more overhead, but it’s best to play to your strengths while still starting out.

Myth #2: My company needs to be #1 on SEO results for important keywords.

SEO can be a difficult game to play and it’s never easy to get to the top of a Google search for popular keywords. For example, if you are running a shoe store, it would be very nice to be the first result when someone types “shoes” into Google.

However, it might be more beneficial and realistic to aim for mastering long tail keywords—that is longer and more specific phrases. Long tail keywords make up 70% of Google searches and generally indicate that a consumer is more willing to convert and purchase than a short tail generic search.

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For example, “shoes” is a short tail keyword that might be used for someone who’s simply browsing the internet while someone who uses long tail keywords like “black dress shoes,” “good running shoes,” “cheap sneakers,” or “sandals for summer” are probably ready to buy.

Myth #3: This other company is doing it, so, why can’t we?

It’s tempting to look at successful companies and try and imitate what they’re doing. Sometimes it works such as when Instagram copies Snapchat’s story features and ended up beating Snapchat at their own game. However, this isn’t always the case.

Take the example of the Amazon Fire Phone: Amazon’s short-lived attempt at entering the smartphone market. The phone’s multiple flaws and inability to stand up to Samsung or Apple means that its obituary was written rather quickly. On the other hand, Amazon has been instrumental in killing Borders and has companies like Sears, Macy’s, and Best Buy on the ropes.

The takeaway is that what works for one company doesn’t work for everyone else. If it did, every company would be doing the same thing. You have a different audience, different brand, different mission, and a different set of values. Find your own unique voice.

Myth #4: Email is dead. Long live the new social media king.

Social media might be the new big thing, but don’t count out email just yet. Believe it or not, a study from McKinsey & Company found that companies acquire new customers via email 40 times more than they do on Facebook and Twitter combined.  The study also found that 91% of consumers check their email every day, make purchases three times more often via email than via social media, and that they order 17% more when ordering via email.

Clearly, there is a lot of misinformation in the air as to how online marketing should be done. Knowing what works and what doesn’t work can mean the difference between life and death for your company. For more handy internet marketing tips, check out my done-for-you system.

What Is People-Based Marketing?

Marketing is all about reaching people and all marketers want to find out how to reach the greatest amount of people with the smallest amount of effort. This often means sending the same generic message to hundreds, if not thousands, or people. However, everyone is unique and therefore has unique needs. What is relevant to one person might not be relevant to the next. It’s hard to be that brand that appeals to everyone since each person is so different. This is where people-based marketing comes in.

What It Is

 People-based marketing represents the original promise of digital and internet marketing; it allows you to replace your broadcast with personalized messages and experiences that the consumer wants to see. It allows brands to establish a marketing system centred around the individual consumer and utilize plenty of data to track that person’s behaviour and spending habits. People-based marketing strategies revolve around the consumer and all marketing efforts are aligned to fit their needs.

One company that utilizes people-based marketing very well is Spotify. Users stream music for several hours a day, often depending on their mood. Listening habits change when the user is relaxing, driving, or exercising and Spotify tracks all this data.

Spotify’s algorithms help create customized and personalized experiences for its users. It will recommend new releases that the listener might enjoy, create personalized playlists based on listening habits, and even remind users of music that they haven’t listened to in a while. These features make users feel like Spotify is tuned into their specific wants and needs.

The best way to utilize a people-based marketing strategy is by paying attention to the three main elements:

Identification

 This is the first and most important part of people-based marketing. Without any identification, everyone you’re trying to target might as well be a nameless and faceless person.

Cookies used to be the main method of tracking internet users, but this method is slowly becoming outdated. More people are using multiple devices, especially smartphones, to connect to the internet and much of this information cannot be tracked using cookies.

One of the main ways to identify people is with deterministic targeting which targets users based on accounts and email addresses. For example, Amazon can track what someone doing whether they’re using a desktop browser, mobile app, Kindle, or Alexa since it requires them to use the same account for all platforms.

Another strategy is called probabilistic targeting which uses data analysis to link devices based on things like location and IP addresses. For example, if a computer and a smartphone are both connected to the same home Wi-Fi address, it’s a possibility that both devices are owned by the same person.

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Data

You want to find out the most you can about your consumer by collecting data. You can use identifiers such as email addresses to dig up all sorts of information about their habits. This includes, but isn’t limited to, what devices they use, what they like and share on social media, who they follow on social media, what they’ve purchased, what product reviews they’re read or written, which products they’ve looked at, and how often they spend.

Automation

 Lastly, automation is what will make your life easier. You probably have received several automated marketing emails in your life, many of which were tailored to your personal needs. Common automated emails you might’ve received are:

  • Telling you events or products you might be interested in based on your history
  • Telling you that your shopping cart isn’t empty
  • Telling you when an item is restocked
  • Asking you if the product arrived on time
  • Asking you if the product was in satisfactory condition
  • Asking you how much you liked the product
  • Asking you to leave a review

Conclusion

 People-based marketing is the future of marketing. You should strive to aim for individuals rather than masses for a more effective marketing strategy.

One easy way to do this is to use an identity resolution service like LiveRamp IdentityLink which helps identify consumers and track their habits. You should also utilize digital marketing platforms to keep a database of consumers and track their unique habits.

It’s not a stretch to say that people-based marketing can completely transform how your company reaches out to consumers and makes sales. If you’d like more access to invaluable marketing strategies, check out my done-for-you system.

For more information and free consultation please schedule a time. You may reach my office at 585-304-0589.

9 Awesome Tools to Help Your Twitter Game

With over 328 monthly active users, it’s hard not to acknowledge the power and popularity of one of the world’s most prominent social media platforms. The microblogging trend has taken the internet by storm and it’s easy for anyone to follow their favorite brands and celebrities from the ease of their phone. You too can take advantage of this platform by utilizing these handy tools to boost your marketing efforts.

Hashtagify

Twitter is all about hashtags and there’s nothing better at finding the right hashtag than Hashtagify. If you want to know which hashtags work best for your industry, Hashtagify is the tool for you. With over 40 million hashtags in its repository, Hashtagify will be your best friend to get noticed during hashtag searches.

Tweriod

The clever combination of “Twitter” and “period” should tell you all you need to know about this app. You can spy on your followers and see when they are most active on Twitter, therefore giving you a better idea of when to post during peak times. Combine this with a scheduling app and watch your retweets climb higher.

Buffer

Speaking of scheduling apps, Buffer gives you the ability to schedule tweets and posts at certain times. This is especially useful when trying to target your audience during peak times or when experimenting with different time zones and the like. You can pre-write all your tweets and have them scheduled to be sent out in a few hours or even a few weeks.

Twilert

Another clever combination of words, this app alerts you when your keywords are messaged on Twitter. For example, you might opt in to receive emails whenever someone mentions your brand name on Twitter, allowing you to swiftly respond to them. Managing your social media presence and watching what people are saying about your brand is incredibly important to maintain a positive image of your company.

Bit.ly

Bit.ly is great because it does two things. The first is that it shortens your links which is very useful for fitting in everything you need to say in a 140-character limit. The second thing Bit.ly does is track the number of clicks so you can see how many people actually interacted with your link.

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TweetChat

One of the most annoying aspects of Twitter is that you can’t interact with someone directly unless you send them a direct message or input their handle in a private tweet. Luckily, TweetChat changes all that. This handy app allows you to have private conversations without all that other annoying hassle.

BuzzSumo

This tool used by everyone from BuzzFeed, Rolling Stone, National Geographic, IBM, Expedia, and more. It’s most useful feature is that it allows you to see what sort of content related to a certain topic is most popular so that you can gain insight as to how people are talking about that topic. It also helps you track what your competitors are doing on social media so you can compare statistics against them.

Triberr

Twitter is a great place to find like-minded people. Triberr does exactly that; you can find “tribes” of people with the same interests or in the same industry as you.

HootSuite

If you are in charge of managing multiple social media accounts, HootSuite is the tool for you. This handy program allows you to simultaneously look at and manage several different accounts at the same time even if those accounts are on the same platform. Its clean interface makes it easy to use and allows you to compare posts side-by-side.

These are just a few of many useful Twitter tools that can help gain you followers and boost brand engagement. Simply find out which ones work best for you, make an account, and have fun.

All of these apps are easy to use, so feel free to experiment and test out different techniques to find out which marketing strategy works best for you.  And, if you’d like more access to invaluable online marketing strategies, check out my done-for-you service.