Monday, July 25, 2011

Element #4 - Don't Get Bullied By Your Budget

It's the six-letter word that can feel like a four-letter word: BUDGET! Planning a marketing budget can be difficult, especially if you're just getting your feet wet. But don't let your budget bully you into making poor strategy decisions for your marketing plan. Below are a few tips to help you be boss of your budget:

1. Set a budget early in the process. Once you start spending money on marketing, it's easy for expenses to snowball. Make sure you (and your team) are on the same page about your budget. Is it annual? Quarterly? Is it solely for marketing costs? Who approves expenses?

2. Shop around. Once you have an overall budget in mind, it's important to research the cost of materials. (You may want to do with while creating your initial budget figure...) Remember that design, printing and advertising costs will vary greatly. Keep in mind that many of the vendors you work with for your marketing materials could have extra fees for revisions, design work or proofreading. Try to contact at least 3 vendors for each new project to compare pricing and services.

3. Your budget is not too small. Don't get me wrong... there will be times when your budget will limit what you can do, however, doing zero marketing because of a small budget is no excuse! From social media to online printing, technology has been great for marketing; it means you have many tools available with cost-effective solutions. Don't let your budget keep you from greatness.

4. Ask a lot of questions. Marketing is a very diverse and creative field which means there are a lot of ways to do the "right" thing for your business. If you have questions, ask. There are no dumb questions! VGM is a great resource and, as always, you can contact Anna at Laboratory Marketing.





Wednesday, July 20, 2011

The Devil in the Details: Keep Marketing Pieces Focused

"I don't have a lot of money to advertise so I'm just sending out this one flyer."

"That's ok," I replied to this small business owner, "What are you trying to accomplish with this flyer?"

It seems like a simple question with a simple answer: get more business! Yes... and no. 'Yes' because growing your business is the entire point of marketing in the first place. 'No' because "getting more business" is much too general for the outlined goal of a specific marketing piece. Let's use football as an example. Much like each play on the field is part of a strategy to win the game, each marketing piece is a tool to reach your marketing goals. One play won't accomplish enough to win an entire game. One flyer won't communicate everything about your business at once.

Though it is tempting to "get more bang for your buck" by cramming every piece of information possible onto the postcard or flyer you are sending out, the reality is that a cluttered or unclear marketing piece can fizzle out fast. Remember that you are trying to carefully lead people to your business, not ambush them! When it is time for you to develop a new marketing piece it is important to define its purpose:
1. Who will be receiving this?
2. How will they be reading it? (email, in your office, online, mailed to their home?)
3. What do you want them to do with it?

Questions 1 and 2 are easy. Question 3 requires a bit more effort. The best rule of thumb is to decide on a singular purpose for the marketing piece. The are 4 basic categories I recommend using for HME or Home Care companies:
- Brand Awareness: Who you are, What you do, What sets you apart
- Promotional: Sale, Raffle, New Patient Offer
- Event Planning: Grand Opening, Open House, Fundraiser
- Educational: Condition Specific Products, Product Awareness, Accessories

Putting out more focused marketing pieces will provide more effective communication to customers as well as force your marketing team to be clear about their goals. If you need some help jump-starting your marketing materials or have some questions about streamlining, please let me know! I'm always happy to talk with you...