Marketing Matters

Each week on Friday, the Beat will publish this marketing informational newsletter by Sabrina Pack of SkyWest Media and Silver City Radio.

marketing matters header 3 8 18 swotHave you heard of the marketing term called SWOT? This is a process to evaluate your company based on identifying your internal strengths and weaknesses and the external environment where opportunities and threats exist. It is so important to be able to define your core competencies. This is because through being able to properly identify what you know the most about and can do better than anyone else, you can potentially find a sustainable competitive advantage. A starting point to being able to identify your competitive advantage and core competencies is through completing a comprehensive SWOT analysis on your own company, then you might want to do the same on your competitors so you know where you stand in comparison. Let's answer these questions What can or do I do better than anyone else? Where are my biggest threats and what opportunities exist? How do I capitalize on this?

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Video marketing mistakes:
1. Trying to make a single video be all things to all people-Determine a specific objective for the reason for creating the video. Simply saying to promote your business to anyone is not a successful approach. You need to really consider your customer base, then segment those customers or identify new groups of potential consumers, then produce a video specifically aimed at one group of customers you have identified.

2. Trying to "oversell" or be "too promotional"-Make videos that are informative, that give value to the viewer. Always be honest and authentic, anything less will be known. The video should tell a story. The video should be enjoyable to watch as the content should be entertaining.

marketing matters header 2 15 18It is not a choice anymore whether you should invest in video. Video is one of the top marketing strategies that companies large and small should are embracing. This is of such importance that the topic continues to rise to the top of marketing planning meetings everywhere. The question resonates, "How to incorporate video into online marketing strategies for the greatest success and return on the investment?" … But wait, there are a lot of different kinds of video and quality of videos in the marketplace, not alone legal issues and strategies that need to be considered. Having the right "professional" video placed in the right place at the right time is critical. Video can be used on websites, especially critical to have on landing pages, across social media channels, in digital ad campaigns, through email initiatives, and within business locations.

marketing matters header 2 9 17 evoked setDo you know what an "evoked set" means in marketing terms? Another name for this is "consideration set." If I asked you if you were going out to dinner tonight, what restaurants were you considering, you might give me a couple of options you would consider. Now, if I am an owner of restaurant who is not in that "one to three option circle," guess what that means for my business? The answer: Your business will not be considered. Being in a consumer's evoked set is of significant importance, because without it, the sale will not happen.

evoked set graphic

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The digital world of marketing is exploding. …And video is one of the most important ingredients to competitive success. Video is truly worth a million words. In fact, Forrester Research supports that one minute of video is worth 1.8 million words. Video is a significant tool to engage your consumer and create conversion. Video should be a central part of any marketing strategy and is important to almost every platform and channel.

Video is the Star: Let the research illustrate just how bright a star! Here is a scan of reported statistics:

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Some business owners ask why should they care about a few negative remarks posted on social media? The truth is, business owners/managers should care extensively about negative remarks as a wildfire can spread in hours and a social media disaster can significantly destroy a brand's reputation literally "overnight." Recognize that any online content, good and bad, will impact how the consumer views your business. Having a plan or policy in place is critical to brand survival.

marketing matters header 12 23 17In advertising, there are many choices to be made concerning the message that should be conveyed. How to convey that message can get lost in the creative decision-making process. One of the most important first steps is to determine what the purpose of the campaign is and the specified target audience. By clearly knowing the purpose and the intended target audience, then creative talents can be focused on what should be the appropriate common theme and which set of advertising appeals and execution styles should be employed.

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marketing matters 12 8 17 getting started with establishing a digital platform

1. Website: Focus on having a well-designed website that is modern, updated often, mobile friendly, has a solid-engaging landing page.
• Tell a story visually. Recognize the critical importance of having quality video and static images. Use key words for finding your business on your landing page.
• Utilize keywords (1-2 words), but also long-tail keywords (phrases 3 words or longer). To see what search keywords are trending and compare keywords, go to Google Trends.
• Contact and Business Information: Make sure you have your full contact information and hours of operation on your website…and more than just a “fillable” form that someone has to complete to have you contact them.
2. Social Media: Utilize social media platforms and get your product in front of the identified target audience. Getting started suggestion—start with Facebook, then if desired also include other platforms, but Facebook is the most important and you don’t have to be on all the channels. One good channel is far better than being on three or more and not have the branding and image maintained correctly. The following research and graph by Statista illustrates the significant presence of Facebook.