Jazz Jones is hoping to build business for her leadership development coaching for healthcare professionals. She’s clarified her goals and objectives and is ready for Step 2: identifying her target audience. (more…)
Archive for the ‘Strategic Planning’ Category
6 Steps and 6 Weeks to an Effective Content Strategy: Week 2
Tuesday, April 23rd, 2019
6 Steps and 6 Weeks to an Effective Content Strategy: Week 1
Tuesday, April 16th, 2019In last week’s blog post we met Jazz Jones, a physician and former healthcare administrator who is hoping to raise awareness and generate new coaching business through content marketing. Her first step: (more…)
Bye Bye Blockbuster?
Thursday, March 28th, 2019
by Justin Grensing, Esq., MBA
For countless Americans, a trip to the local Blockbuster in the hopes of renting one of the copies of the latest hit movie to be released on VHS or DVD or to browse older favorites and film classics was a part of the Friday or Saturday night ritual for years.
But as technology and delivery methods evolved, Blockbuster and other video stores started to lose market share to then-mail-delivery-based Netflix as well as DVD rental kiosks before seeing further erosion from video streaming services. As Michelle Lou and Saeed Ahmed write for CNN, the iconic brick-and-mortar movie rental chain is still hanging on. But just barely. After the recent closing of a Blockbuster store in Australia, the Blockbuster in Bend, Oregon became the last one open on earth.
Our Top 3 Marketing Communications Resolutions for 2019
Monday, December 31st, 2018
As the New Year approaches it’s time to begin thinking about New Year’s resolutions. I’m pretty goal oriented and actually love this time of year–it’s always fun to look forward to new possibilities and make new plans for growth and achievement. I also believe that thinking about and committing our goals to some formal form (whether hard copy or online) serves to formally mark them in our minds and increases the odds that we will actually move forward to achieve them. Following are our top three marketing communications resolutions for 2019.Develop a plan for 2019 and commit it to writing.
It doesn’t have to be a “fancy” or elaborate plan, but it’s important for businesses of any size to take the time to clarify their mission, vision and values, identify goals and measurable objectives, evaluate the internal/external environment, development strategies and tactics designed to leverage strengths and opportunities and overcome threats and weaknesses, and establish metrics to monitor success. I’m a strong proponent of strategy (hence the name of my company!) and the author of The Complete Idiot’s Guide to Strategic Planning.
Leveraging Big Benefits From Loss Leader Pricing
Thursday, September 27th, 2018by Justin Grensing, Esq., MBA
At first glance, it might seem like a ridiculous strategy to price a product below its cost. Wouldn’t you just be losing money? While this is true, many companies do just that, and they do lose money. On that specific offering. This is part of a strategy known as loss leader pricing. As defined by Inc., “loss leader pricing is an aggressive pricing strategy in which a store sells selected goods below cost in order to attract customers who will, according to the loss leader philosophy, make up for the losses on highlighted products with additional purchases of profitable goods.”
A great example of a loss leader is razors. (more…)
The Benefits of Being a “Fast Follower”
Thursday, May 31st, 2018
by Justin Grensing, Esq., MBA
The business world has a strong mythology around, and reverence for, the innovator – brilliant geniuses who upend the status quo and usher in a wave of change, making fortunes along the way. We often think that the first company to go down an innovative path is in an enviable position. But, in many cases, it is not the first mover who prospers, but the fast follower. (more…)
Do You Have an Exit Strategy? Why You Should.
Tuesday, May 29th, 2018
by Justin Grensing, Esq., MBA
For many entrepreneurs, starting and running their own business is the culmination of their life’s ambition; the chance to be their own boss while doing what they love. But as an entrepreneur, is your goal really to continue your business for the rest of your life? Or to pass your business on to the next generation of your family? Or to simply let it fade into oblivion? The point is, unless you’ve taken the time to specifically think about the future of your organization beyond you, you really don’t have an exit strategy. (more…)
Just Because You Can, Doesn’t Mean You Should!
Tuesday, May 8th, 2018
There’s an old saying that has been used to describe exceptional salespeople: “They’re so good that they could sell ice cubes to Eskimos.” The point being that Eskimos, living in a cold climate, really don’t need ice cubes, and are likely an audience that is going to be tough to crack. But, great salespeople could crack them.
Our perspective: Why? (more…)
Value Trumps Price in Effective Marketing
Sunday, April 15th, 2018
In the world of sales and marketing, we often hear the terms “value” and “price” used interchangeably. Specifically, many people think that the lowest price option is the best “value” because it’s the cheapest. That may be true in the narrow context of commodities – $100 for X amount of ABC grain is a better value than $150 for X amount of XYZ grain, because for true commodities, there is no difference between ABC and XYZ brands. But for non-commodity products and services, value and price mean very different things, and marketers need to be aware of the difference. (more…)
Should You Be Adding Messaging Apps to Your Marketing Mix?
Tuesday, November 21st, 2017
For the last several years, companies have become increasingly aware of the importance of social media in their marketing efforts. For many business owners and marketers, social media marketing largely supplanted directed marketing using traditional mail or email. Interestingly, the trend may be coming full circle as many marketers are now looking at using direct messaging apps in conjunction with their other social media marketing.
In an article for Entrepreneur, Alfred Lua discusses the growing popularity of messaging apps, advocates for incorporating these apps into online marketing mixes and looks at strategies to maximize their effectiveness. We’ve picked out a couple of his tips that might be most useful for small businesses. (more…)
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