Not Getting Ink? Then Self-Publish

I recently came across a blog post by investor, writer, entrepreneur James Altucher.  In it, he talks about his decision to move from traditional publishing to self-publishing, and the benefits and process of self-publishing. In fact, Altucher says entrepreneurs should also be self-publishers.  I have written a couple of  books myself (although I've only published one of them), but those books had nothing at all to do my business. So his piece is quite timely because my plan is to self-publish an ebook or two on marketing and small business development.   Self-publishing can be a low-cost way to create new marketing and promotional opportunities, to expand your brand and create another revenue stream (though probably a small one, but then again, you never know).

Altucher has published eight books, of which three were self-published.  He says that after considering the dwindling profit margins in the publishing industry, along with numerous other headaches such as the time it takes between having your book accepted and it being published ( usually about a year), he'll only self-publish from now on.  This makes perfectly good sense given that technology can shrink the timeline to two or three weeks from when you write your book to it being available for people to read it.

You may have heard of Altucher, especially if you're into investing, he's built a couple of successful financial websites, written for the Wall Street Journal and featured weekly on CNBC.  You'd think that with his high profile he'd rather skip the grunt work and stick with traditional methods. Not so. Granted, he's had some rocky times with traditional publishers, but he says he'll never go back.  And that's understandable.  He spent a whopping $70 to self-publish his first book, using Amazon's createspace.com (that included formatting for Kindle).  From what I know about self-publishing, that seemed unusually low. But after reading how he did it, I can see how it's possible.  By the way, I'd appreciate it if you'll use the Amazon search box on this site when looking up createspace.com.

Also, drop me a line, or post a comment, and I'll tell let you know if you qualify to have your ebook published and marketed for free.

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Don't Cast a Wide Net: Targeting Just As Important for SMBs

Two of the following three statements are valid.  Do you know which one isn't? 

1. The weak economy is taking a very tough toll on SMBs.  
2. Streamlining is very important, but shouldn't include eliminating your marketing/advertising budget. 
3. In a tough economy, targeting your marketing/advertising is wasteful--you should cast a wide net. 

If you chose number 3, then you're right.  As tempting as it might be to stretch your marketing and advertising dollars by spending it any and everywhere without consideration of your target market, it's a mistake to do so.

It's of critical importance that you identify the consumers who are most likely to buy your product.  And those are the consumers who are most likely to benefit from your product or service.  If you take the approach of buying ad space in the local car club magazine because the price is very affordable, but you are selling shoes, then you're probably wasting valuable ad dollars.  Sure, you may attract a couple of people that will by a pair of shoes, but because you failed to hit your target, your return on investment will likely be negligible. 

Even larger companies can make the mistake of failing to target their marketing efforts.  Simon Dumenco writes in Advertising Age about the likely advertising miscalculations of  daily deal-maker, Groupon, which is currently hemorrhaging cash.  Which makes the point that employing a targeted approach to any marketing or advertising campaign, not only is the best way to reach those who are most likely to buy from you, but it also helps to avoid wasting precious resources on people who are not interested or ticking people off with another "pesky ad".

In a previous post on this blog, 10 Ways SMBs Can Engage Customers in a Tight Economy, in point number two, I said that you should be diversifying your marketing/advertising.  Remember, that means spreading your dollars around--some social, some traditional, etc., but not doing so without a strategy to reach your target--there is a difference.

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This Saturday's Video

Chances are there are lots of interesting stories that you can share about your business. Marketing your business is not always about the direct sell. Have you thought about sharing the things that your company is doing that are outside the sales channel? What about charitable and volunteer participation? Do your employees play in a league? Share your stories with the world. Invest in a digital HD video camera such as the Hero from GoPro. For less than $300 bucks you can capture all the action in high quality high def. And for another couple of hundred dollars, you can purchase a piece of stabilizing equipment to avoid those annoying jittery shots. If you want to create effects, trim scenes, add text or play with transitions and more, use video editing software, such as Cyberlink's PowerDirector 9 Deluxe (less than $50). You'll have a professional looking video that will add another dimension to your marketing efforts when you place it in your social networks.

Considering the fact that you run a small business, would it be worth your time to produce a video to showcase a non-sales activity?

What Color Are You?

What color are you? I'm talking about your brand color. It's something that can be easily overlooked, but shouldn't be. For years, marketing professionals have applied their knowledge of the psychological effect of colors when branding for large corporations. Who doesn't know about the golden arches or Big Blue? However, I must admit that I associated the orange ball with "I-N-G", long before I even knew what ING was (just in case you still don't know, ING provides financial services).

Carefully selecting your color when branding is important whether you're branding a company, product, service, or yourself (you don't have to be a celebrity to have a personal brand). Lots of research has been conducted and shows a strong relationship between color and marketing. Research from CCICOLOR Institute for Color Research, reveals that people make a subconscious judgment about a person, environment, or product within 90 seconds of initial viewing and that between 62% and 90% of that assessment is based on color alone.

Color theorists have more extensive descriptions of value judgements and color, but here's my Cliffsnotes version.

WHITE – purity, peace, contentment
BLACK – boldness, seriousness, elegance
Gray or Silver – high tech, authority, practicality
GOLD – wealth, prosperity, happiness
BLUE – sanctuary, faithfulness, confidence.
RED – warmth, power, excitement
YELLOW – spiritual, happiness, warmth
GREEN – freedom, healing, tranquility
BROWN – richness, politeness, helpfulness
ORANGE – contentment, pleasure,
PINK – gentleness, romance, well being
PURPLE – royalty, spirituality, dignity

In my next post, I'll look what colors have to say about your website.

Insecure About Your Marketing Communications Strategy? Don't Be

The clients that I usually work with are small businesses and non-profits. My experience has been that when these clients are ready to spend money on advertising or marketing, they are ready. They know what they want to do, though not necessarily how they want to do it (which is why they hire a professional). About a year ago, I began noticing something that could present a new challenge--prospects and clients have become much more knowledgeable of marketing communications strategies.

For years, I've encountered clients that are very knowledgeable about leveraging traditional media, but now I'm finding that more than a few are knowledgeable about social media, mobile media, cloud based environments, apps, SEO and yes, even the importance of content. Which in and of itself is a good thing.

Naturally, when your bottom line is the bottom line, you want to make sure that every investment yields a return. You want to take advantage of opportunities to increase sales, retain existing customers, engage new ones or whatever your goal happens to be. But I suspect that some prospects are not just interested in maximizing their resources or getting the best return on their investment, but are feeling a bit like David in a world of advertising and marketing Goliath's. Mainly because there are so many strategy options, and they don't want to miss out on using them.

A good case in point is a former client from a few years ago (who I'll call Mike). Mike recently expressed an interest in working with us again. He said he really liked our work, but this time around, he wanted to expand his marketing mix. Mike is very much a hands-on guy. When we last worked together, he was involved in every aspect of his campaign. Which is great, he's a very smart guy. But during our recent conversation, Mike talked about things like "integration" and "multi-platform" marketing. And how certain he was that "having an app will bring in lots of business", and most importantly, how we needed to "do whatever they're doing now that works."

It's the "whatever they're doing now that works" that prompted a series of follow-up conversations with Mike. I needed him to know that we'd love to create a marketing strategy that compassed it all. But I also needed Mike to think more about his business, his market, his clients and his budget. My point was that what works for large corporations that are trying to reach massive numbers of consumers, or even small companies that offer very different services, won't necessarily work for his business (small and local).

I know he immediately understood, but remained unconvinced. Mike believes that his growth is directly tied to having a market communications strategy that encompasses as much technology as possible. He wants to do what industry publications, marcom bloggers and other so-called marketing gurus say must be done in order to have a successful campaign.

I don't agree. I still believe that first and foremost, successful campaigns have a few irrevocable elements. First the business owner must have extensive and realistic knowledge about their business, their brand, their market, their marketing/advertising goals and their budget. The people they hire must soberly take that information, interpret it, build upon it with research, develop strong messages, possess the knowledge to choose the appropriate channels, and the ability to measure effectiveness.

It's not that I have a problem with new media, technology or clients who know what they want. But I can see a new challenge emerging where potential clients that have been sold on the idea that they can't win without employing the latest marketing trend, will have to first be sold on the idea that successful campaigns are built on good old fashioned foundational elements.

As for Mike, he'll likely go with a company that will give him what he wants. They'll probably burn through his budget pretty quickly, but at least he'll be trendy.

Engage or Ignore? How Do You Respond To Street Team Marketers?

We've all encountered street team marketers. We see them at concerts, clubs, on the street or at the mall passing out samples, performing or simply chatting up potential customers. In my previous post, I shared my favorite encounter with a street team. Granted, they were promoting a well-established brand, Oscar Mayer, one that I'm fond of, so I was more than willing to give them my time. And they really turned up the cool factor by traveling in the Oscar Mayer Wienermobile.

Guerilla marketing, which includes the use of street teams has grown in acceptance as an important part of the marketing mix. In fact, for some companies the use of street teams has become a real tour de force of their marketing efforts. Red Bull should immediately come mind.

But what about you? How do you respond to street teams? Do you stop to hear what they're talking about or rush to pass them by? Let me know by posting a comment.