Marketing Today
July 3, 2007

  

Ask an Expert
Ask an Expert

  

Mary Stewart Center for Entrepreneurship

Q:  Steve -- I always enjoy your inexpensive / innovative marketing ideas.  Do you have a favorite? -- Sharon
A: What surprises me actually is just how many different ways there are to market yourself or your business today. Whenever I give a speech or workshop that includes a marketing and branding component, I almost always end up learning something new from one of the attendees; something they have tried and used that I had not considered previously.

So while no, I don't have a favorite per se, I do have a bunch of new favorites, such as:

YouTube: I recently had the opportunity to do a shoestring marketing workshop with about 200 people. As we went through my usual suspects (co-op ads, pay-per-click, etc.) one gentleman told me how his consulting business exploded after he started posting on YouTube.

Here is what he did: Once a week he creates five, minute-long consulting tip videos around various topics he specializes in. Each video ends with his URL. He then posts one of these videos a day on YouTube. Cost: $0. Impact: Apparently high.

e-newsletters: Let's say your target market is women who are about to get married. Sure, you could advertise in bridal magazines, but that is not cheap. Consider this alternative: Research the most popular bridal websites and find one that you like and which seems to match your desired clientele. The site almost assuredly will offer a free e-newsletter, and quite possibly more than one. Find the e-newsletter you like (and which contains ads.) Buy space in that e-newsletter.

Advertising in that e-newsletter should not only be highly effective, but pretty inexpensive to boot. Yet even so, you will be reaching a highly qualified list of brides-to-be who opted in to this newsletter and who look forward to getting it every week. Moreover, because you will be associated with this website, you gain instant credibility.

You could use this method with almost any industry.

Publishing your own e-newsletter: If you have valuable information to share, an e-newsletter allows you to

Local e-marketing: Of course we all know the power of Google ads these days, but sometimes left out of the equation is the ability to use not only Google but many other sites to advertise locally. Many businesses think they can't really use Google ads because they do not sell nationally. The good news is that, not only can you confine your online ads to a specific geographic region, but doing so is very cost-effective because the reach of your ad is limited to your area.

Here are just a few places to explore local online ad opportunities:

The publicity stunt: Maui Beverages changed the name of the title of its Chief Executive Officer (CEO) to "Chief Entertainment Officer," and from its Chief Technology Officer (CTO) to "Chief Tasting Officer." The result? Plenty of good press.

In 2000, Half.com paid Halfway, Oregon $100,000 to rename the city Half.com for a year. Halfway also received new computers for the local school and other financial considerations. Half.com received immeasurable worldwide publicity.

The ability to build a brand and get ahead without spending big bucks is greater today than ever before.

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Today's Tip: A few months ago I reported that, according to Part I of Intuit's Future of Small Business Report, a new breed of entrepreneur is emerging in this country, and maybe not who you would expect.

According to the latest installment of the report, success tomorrow will depend even more on your ability to adapt to, and adopt, technology. "Tomorrow's successful small business owners will be far more reliant on technology than their current counterparts. They'll be more connected in a mobile world, market to customers in ways only imagined today, and blur the lines between the virtual and physical worlds."
 

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