Chapter 10: Small Business Promotion

Marketing Funnel

The rule of thumb in marketing that it takes a large number of people to be made aware of your product in order to find a purchaser.

influencer

A customer role describing a person or group who can make credible or recognized suggestions or recommendations to others regarding purchase choices.

co-marketing

A type of media partnership where two products jointly pay to advertise together. Usually this is when customers use the two products together, like chips and salsa.

press release

A written announcement intended to draw news media attention to a specific event.

AIDA

Attention, Interest, Desire, and Action. To write press releases well

Customer development process

Get customers, keep customers, grow customers

promotional mix

How much of each message conveyance you will use to sell your product as well as your objective in using each one.

Consideration:

Is the process of getting into the prospective customer's final list of brands of products or services they are considering for purchase, and doing what you can to help

Awareness

Is the process of getting your message out as much as you can to your target market, or if you are unsure about your target market, to the people in your intended ser- vice area. Your goal is to get a subset of the people who see your message to take the next step and express interest.

Interest:

Is the process of prospective customers taking some action to learn more about the product, service, or your company. This can be through looking at your website, cata- log, or store. It could be from checking for more information from third-party sources such as friends, family, review websites, magazines, or the like. The goal is for potential custom- ers to get the information that leads them to include your product, service, or firm as one of the prospective purchases they are thinking about.

key performance indicators (KPIS)

Measures or metrics that identify the outcomes that are most important to the success of business. While outcomes like sales or products produced are KPIS, events leading up these are also usually considered key, like customers coming to your store or website for sales, or number of products started.

PESO Model

Organizes media opportunities. Four major types: paid, earned, shared, and owned.

affiliate marketing

Partnerships between firms where a firm (often a content creator) mentions the product or service of another firm. That mention includes a link to purchase the product or service, and each time the link is clicked and produces the agreed-upon outcome (seeing the website, having a cookie placed, leaving their email, requesting information, buying the product) content creater gets paid by other firm.

sponsorships

Paying for a local organization's needs in exchange for recognition.

organic traffic

People who come to your website based on their own actions (e.g., typing in your URL, clicking on a link mentioning your site on a web page, or clicking on a search engine finding based on where your site naturally-or "organically"-appears in the search results) where you have not paid for the link. It is also called unpaid search.

search engine optimization (SEO)

Techniques applied to web pages in order to obtain favorable placement on Internet search page results.

keywords and description tags

Terms included in the hidden portion of a web page (called the document head) that are used by search engines such as Yahoo! and Google to describe your website and evaluate its focus and category placement.

brand promise

The gains provided or the help given by the product or service your firm offers.

brand

The name a firm puts on itself and its products to differentiate them from competitors' offerings.

business profile kit

The name for the media kit you create for your own business (to distinguish it in mind from your the media kits of other organizations).

social media embassies

These combine elements of owned and shared media and represent the social media plat- forms on which your brand, busi- or services have a ness, products, formal presence (like a company page). The page belongs to you, but it exists on a media platform don't own or control. that you

Purchase

This is the end of the initial promotional funnel, where a person buys your product or service amd becomes a customer of your firm

Impression

When someone notices a promotional effort

co-branding

When two companies or brands combine to create a new product or service that combines both brands, such as Nike's LeBron sneakers.

domain name

name of an Internet The specific site, consisting of name followed by .com, .net, or a similar code.

Your promotional mix

are techniques that will get you noticed.

Shared media

called word-of-mouth or referral advertising.

Advertising

is part of conveying your message to your customers.

paid media

paid advertising, paid media are promotions where firm your pays another for the placement and distribution of the material.

media partnerships

paid and unpaid brand to the promote your public or own social media public bases. partnerships include influencer marketing brand ambassadors), trade and professional organizational memberships, sponsorships, Co-branding, co-advertising, donations, and community service.

Sales leads

people who receive a promotional impression and who give some thought to buying the product

owned media

promotional materials directly and wholly owned by your like your name, your company, websites, your signage, and the like.

Earned media

public relations and press relations, or "free ink."

earned media

publicity or press or public rela- tions, these refer to do-it-yourself and paid efforts to get the mes- sage of your brand, business, product, or service out to the general public or the mass media (TV, radio, print) in hopes it gets repeated by them.

Prospects

sales leads who actually make some sort of effort to learn more about the product, service, or business in anticipation of a possible purchase

Incentive media

such as sponsorships, brand ambassadors, etc.

Advertising

support corporate identity and value propositions. Also to convey your message to your customers, this include newspapers, magaziínes, billboards, television, and Internet banner ads

Media integration

where you develop contests, advertorials, etc.

Media partnerships

with companies, influencers, etc.

shared media

word-of-mouth or referral advertising, these are promotional mentions of your brand, firm, product, services, or user experiences with them made by customers and others and posted or shared through their social media sites.

Paid media

you pay for ad placement.

Shared media embassies

your gateway to shared content.

Owned media

your website, newsletters, emails, signage, etc.