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Article #142: Marketing Versus The Stockmarket

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There are many complicated strategies out Another point that marketing experts
there on the subject of marketing and agree on, is that customers very rarely
advertising, covering demographics, buy the first time they see any
different media types, seasonality and advertising for a product or service from
other ingredients of a successful an "unbranded" business. At best, initial
formula. But most of us, who run a small advertising just raises awareness. It is
or medium sized business, don't want only after the customer becomes familiar
complicated, so for the benefit of this with the adverts, product or service,
article, lets define marketing as will the decision to buy be made. Of
anything that promotes your business. course within "branded" businesses, the
I see marketing a bit like investing on trust with the customer is already there,
the stock market; invest some money, with so the decision process is much quicker.
the intent of a good return from the So if your potential customers don't know
investment. For example some shares you, don't expect immediate custom. This
(offer of the day) could be bought to suggests that one off panic advertising
yield an immediate return, some shares may still not bring in the custom you
could be bought for a longer but safer were expecting, even though you have a
term to mature and some are just high fantastic priced product or service.
risk. A seasoned investor will probably This is also relevant for start up
have a portfolio that covers all these businesses. A typical strategy would be
options. to form the company, put everything in
To relate this to your business, do you place and then start your marketing. An
have stock you need to sell immediately experienced businessman would start the
(special offers), are you advertising to marketing plan much earlier. Knowing that
bring long term brand awareness to your the initial advertising would just
business or are you trying new forms of stimulate interest and hopefully real
advertising that has never been tried sales would coincide with the true start
before in the hope of a large return. date of the company.
Just like the investor a seasoned What type of advertising is the next
marketer would consider marketing over question? Look at what other successful
all these sectors, immediate special related businesses are doing, and then do
offers, long-term branding and possibly a the same but to better standard. The key
small amount of high-risk options. Spread word here is "successful". If they are
the risk and then measure the return. successful, then they are doing things
However some small businesses see right and have already gone through the
advertising or marketing as an measuring stages.
unnecessary expense and tend only to High-risk marketing should only be done,
invest in it when sales are low or at at times when your other marketing
start up. This often means they are only strategies can support it, unless you
marketing for an immediate return, have nerves of steel of course. Certain
focusing on your special offers just to entrepreneurs have broke world records
get customers in. Ironically if a crossing the Atlantic in boats and hot
longer-term strategy had been in place, air balloons and have built international
the need for panic advertising might mega brands through clever PR. So the
never occurred, sales could be more rewards are there if done right but if it
consistent and the products or services is done wrong, can bring no return and
sold could be based more on market prices even damage a company.
rather than on specially created deals. To summarise, if you are running a
Longer-term marketing is seen every day businesses that is intended to be around
in the media as the biggest brand names for a long time, then see your marketing
in the world still consistently market strategy as a long-term investment.
themselves even though everyone knows who Long-term customer awareness eventually
they are. They know it is cheaper to stay brings word of mouth marketing, which is
at the top than to get back up there, if the best, and cheapest you can get. If
their market share slips. you run one off adhoc marketing
A seasoned investor would also regularly campaigns, it is unlikely you will get
keep in touch with share prices to the best return on your campaign until
measure their return on investment. A people know who you are, single "one off"
mistake many businesses make is not to adverts in your local paper rarely
measure their costs against return on achieve anything. High-risk advertising
sales. Using reference numbers in adverts is just that, can be fruitful if
or just asking the question when successful, but can be damaging with
receiving phone calls can give you little or no return.
indications of what advertising is Finally, measure and review all your
working and what is not. You may find marketing costs against the return you
that just one simple advert in a local are receiving then change your plan to
paper is paying you dividends, but the suit. You wouldn't invest your life
radio advertising is not bringing in savings on the stock market and not check
anything. How do you know, unless you how much you shares are worth, so why
measure it? You can then adapt to bring have a different process for your
the greatest return from the least marketing costs.
investment.






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