The Most Effective Low-Cost & No-Cost Marketing Strategies in The World
No matter what the economic climate may be, you still have to market your business. To succeed when times are rough and money is tight, however, you need proven strategies that provide maximum return on your investment dollar. And there’s no better way to achieve a good expense-to-income ratio than with the strategies in this chapter.
Any business can pay for advertising to get their message out and many do, spending tens of thousands of dollars to reach consumers. A smart business with a marketing savvy leader, however, can achieve the same goal for free…if they know how.
Strategy #1 - The Power of the Press Release
Compared with advertising, getting media coverage has practically no impact on your bottom line. The only costs associated with press releases are printing and mailing. And if you’re using electronic distribution like email, you can take mailing costs out of the equation.
However, unlike advertising, you can’t buy publicity, you have to earn it.
You Can’t Buy Press Coverage…At Least Not In Big Markets
You may think money talks, but a sure way to get your press release rejected is if you mention to an editor how much ad money you have spent with the paper or offer to commit ad money if the editor will run your story. Editors are not ad sales people. They’re journalists and they take pride in delivering unbiased coverage independent of outside influences.
That said, many "hometown" papers will accept a “trade” for an advertising commitment. Take advantage of this practice as much as you can, just be careful not to approach the legitimate press with any type of bartering proposal. It may destroy your chances of getting your releases accepted now and in the future.
Give The Editors What They Want
The media makes a living by providing valuable news and information to its audience. Newspaper editors and TV’s managing editors are bombarded every day with news releases from all over the world that they have to read, review, and consider for inclusion…consider for their readership.
Some small business owners have a strange sense of entitlement. They believe that if they write a press release that is newsworthy that there is an obligation on the part of the newspaper to publish it.
Not only is this not true, but this kind of attitude can be detrimental to obtaining the coverage that you want. The media is fully autonomous in determining who and what will be covered, except in countries with "state-controlled" media outlets.
The media is not an extension of your marketing department, but if you are savvy, you can still attract their attention and get them to “do your bidding” while they serve their own needs. The key is to provide a compelling answer to the all-important question, “Why should our readers or listeners be interested in you NOW?”
The most basic public relations/marketing tool for every successful business owner, whether he runs a mom ‘n’ pop shop or a company on the Fortune 500 list, is the news release or press release. The trick is not to make your article a commercial or advertisement. If you weave your business into a human-interest story people will read the article and remember your business.
What’s hot and what’s not when it comes to releases? Media outlets are looking for stories that are newsworthy. That’s their job. To be newsworthy your topic either has to be controversial, strange or out of the ordinary, a human interest story, or tied to current events.
In general, information outlets are looking for:
• Topical news releases relating to timely issues.
The media is particularly interested in certain trends and your products and services, no matter what they are, can tie into one of those trends
• Community involvement releases sponsoring events or get-togethers
• Industry-specific projections and surveys that predict where a niche market is headed
• Executive-appointment releases announcing the appointment of someone to a new position
Generating news and information that people and the press will be interested in is not as difficult as it may sound. All you have to do is ask the question, “What does my target audience care about?” Asking this question will help to focus your thoughts and ideas. Conducting some research on a specific topic or question will help you get the answer.
All that stands between you and free publicity is your creativity.
Have a Plan - Know How You’re Going to Handle the Reponses
Don’t send in a press release until you and your employees know how you’re going to handle the responses. What if 20 reporters want to interview you? Who at your company talks to the press? What if your press release is a hit and 1,000 consumers arrive on your doorstep the next morning or phone in? Do you know how to handle 1,000+ requests for information?
I know that this would be a good problem, but it’s still a problem in need of a solution, nonetheless. You really must ensure that you are able to respond quickly to publicity inquiries.
If you can’t keep up with the response, people will be turned off to you and your business. Your efforts will be for nothing and, in fact, you’ll be worse off than when you started! People who formerly knew nothing about you will now have a negative impression!
Meet The Press – A DIY Guide
You don’t need a professional to write your news release; you can do it yourself. But you’ll need to follow several strict guidelines to make sure that your work is not rejected based on format.
News releases should contain four basic facts:
Who, What, When and Where
A press release should be so well-written, so media-friendly, so absolutely prêt-a-porter (ready to wear) that an editor needs to do nothing more than say, "Go with it!”
To accomplish that, follow these rules to the letter for releases that will be printed and mailed.
• Double-spaced
• No typographical errors
• Have the copies run off professionally. Do not duplicate the news release through instant copy
machines
• Use the right color paper. News releases should be on plain white paper
• Use the right color ink. News releases should be printed with black ink
• Include a dateline. The dateline should be the day you mail the release. This serves as a reference point for the media
• List a contact person with a phone number.
Always have the name a phone number someone can call to ask questions
• News releases should go on the company’s letterhead, not plain white paper. Letterhead is
part of your image
• Give your story proper flow - the most important things in the news release go at the top
and the least important toward the bottom
• Avoid hype. Editors only want the facts
Don’t Be Stingy - Spread the Word!
News releases can be sent to every magazine, newspaper, television station, and cable network that reaches your market. Send the news release to the editor of the publication you think would be most interested in your news item, or to the editor of the newspaper section most likely interested in your information.
Don’t just send your release to the main newspaper in town; be sure to hit the smaller newspapers, as well. Small publications may be even hungrier for good content. They are also often more receptive to running stories with a local slant.
It takes continuous effort on your part as a business owner to develop and send out as many news releases as possible while still being news-y and topical. To make things easier and more efficient, establish a press release process because standardizing processes is always the way to make things happen.
Take a Moment for Yourself…
People spend years honing their skills in this area, so you’ll need to invest a little time and effort to get it right. Take time then to practice and refine the art of public relations and news releases. You’ll be surprised at how quickly you can learn.
As you send out more and more releases, getting more and more accomplished with each new effort, your community will become more and more aware of your services and you can generate prospective clients.
That’s what it’s all about!
More Flies with Honey ─ Never Forget to Say Thank You
When you do get your press release published, consider it a favor the newspaper or magazine has done for you and say thank you in a meaningful way. Because so few express their gratitude, the fact that you do will make you more memorable. That will definitely help you down the road.
However, don’t go overboard with flowers, candy, gifts and special offers. You’ll make the editor feel as though they have compromised their integrity. Send an appropriate card with your handwritten thanks.
The other 11 strategies are to be released in my new book, called, "Winning Unlimited New Customers." Pre release copies are available now, just make a comment on this blogg and I will send you a PDF copy, no cost. I would appreciate your comments about the book.
Sorry only available to the first 27 who comment. and expires on the 30th November 2008. The book will then be available to purchase.
Enjoy.
Regards
LLoyd Richardson
