Advertising Agencies and the need for a Brand (Series Article 6)

Advertising agencies are kind of like stock brokers, they are higher priced for something you can probably do yourself or atleast discern effective lower cost options. People tend to put their faith in them because of some intrinsic value that they believe they receive when working with them. But practical business people that are looking for value over fluff can probably get the same creative advice and implementation of a highly effective advertising campaign for a much better price when going with a different option. Let me explain further…

Hiring creatives to implement an advertising campaign or to create a brand for your company is a necessity in creating competitive advantage and differentiation from your competition. Your brand is an association with your company that consumers perceive, something that creates value (or diminishes it) that ideally resembles what your company is about. It is important to create this brand and be consistent with it in order to build recognition of your brand among consumers. You may need to find some right-brained experts to help with this. Your first thought may be to contact an advertising agency. There are different kinds of advertising agencies but most of them consist of premium rates. My experience with advertising agencies is that they are rich on ideas and are so good at creating that people will pay an arm and a leg for them. They are definitely great at laying out very detailed advertising programs to perfection.

The funny thing about this is although the ad agency is most likely giving you GREAT creative options there are MANY smaller companies or even freelance individuals who can give you creative options that are just as effective and help you grab the attention of your niche market. You also get charged much less. Going with the ad agency is basically a luxury that could be considered over indulgence. The problem is that people tend to put more value on what they pay more for and whomever they believe are “the experts”. The catch is that if you understand basic concepts of marketing and advertising you can spot money waste in this area.

For a small business concerned with value and spreading your money as far as possible advertising agencies with large costs are most likely not your best option. You should atleast consider your other options before dropping big bucks on advertising if the name of your game is value for your dollar and return on investment.

Be practical. You can now higher creatives who work with much less overhead and have a small number of employees (or have a network of experts that they team up with) that can therefore afford to charge less for great service while creating just as much “reach” to the public as the big guys.

Tomorrow: more advertising options.

Know someone that needs to hear this information, please pass this along. If you need assistance getting leads, prospects, and clients cost effectively, please contact me:

Your confidentiality will not be compromised.

Customer Retention (Series Article 5)

As a small business, you have a real advantage in that most cases the owner of the business is directly communicating with the customers. If it’s not the owner, he is still close in a chain of command to the actual client contact. The more opportunity you have for personal touch with a client, face to face time or a thankful phone call, the better. In our society, we are working to cut out as much time as possible in order to be more productive. This is necessary in some areas but cutting off the appreciation to clients for their business is going to greatly inhibit your ability to retain customers.

You may ask, why should we be so concerned about retaining customers after completion of the business or transaction? Satisfied customers are your best resource in that they speak highly of the product. Some will be referrals to your product or service. Others will simply speak well of you and your company. In either case, any opportunity to have a contact that is appreciative of your product or service is a free sales representative. They are a face for your company and will speak above and beyond your own personal sales pitch.

If you are a service based company, there is nothing better than a written thank you card. Email responses are never going to be received in the same manner or appreciated in the same way. The time put into writing a short thank you card and mailing it speaks volumes over your verbal thank yous. Anyone that has given you valuable advice and you want to say thank you above just a verbal thank you shows them that you appreciate them. Most people aren’t necessarily looking for pay but everyone appreciates recognition. These people will be more likely to help you in the future if they realize that you do really appreciate their help.

Secondly, people tend to expect more in regard to technical support than they used to. Or, maybe it’s that they are getting tired of automated phone services. Either way, quickly taking care of their concerns in regard to technical support or customer service is important. Also, having a “live” person to communicate with is a major plus. One company that does this extremely well is Apple. I can call anytime and have a highly competent person not only assist me but give me great advice. This is invaluable. Try to offer this. The more automated steps you have for customers to go through, the more likely it is for them to get confused and frustrated. Make it as simple as possible.

Know someone that needs to hear this information, please pass this along. If you need assistance getting leads, prospects, and clients cost effectively, please contact me:

Your confidentiality will not be compromised.