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sample press release

Posted by Ali on October 22, 2009 with 0 Comments

Here is a sample press release for a non-profit organization special event for the community and the press.

Special Invitation
June/2/2009
For Questions Contact:
Allison Reynolds
Pasadena Symphony Association
626-793-7172 ext.13
areynolds@PasadenaSymphony-Pops.org

***MEDIA ALERT***

HEADLINE HERE
Pasadena Symphony Association Unveils Plan For Sustainable Future
Pasadena’s Mayor and Team of Experts Endorse Strategic Plan

What: Pasadena Symphony Association’s (PSA) CEO Paul Jan Zdunek will be announcing his post-integration recovery plan designed to sustain the organization financially and to enable the PSA to grow in the future.  Working with a team of outside experts and with full support of the Board of Directors, Zdunek has developed a plan that will restore confidence in the venerable Pasadena institution and ensure its long-term, sustainable growth.  The PSA administers the Pasadena Symphony, Pasadena POPS, Pasadena Youth Symphony Orchestra and a full Education & Community Engagement program.   Questions will be entertained following the recovery plan announcement.

Who: The Honorable Bill Bogaard, Mayor, City of Pasadena
Paul Jan Zdunek, CEO, Pasadena Symphony Association
Harvey Knell, Executive VP, Pasadena Symphony Association Board of Directors
Jorge Mester, Music Director, Pasadena Symphony
Rachael Worby, Music Director, Pasadena POPS
Jack Taylor, Music Director, Pasadena Youth Symphony Orchestra

Time: Thursday, June 4, 2009  12 NOON

Location: Pasadena Civic Auditorium
300 E Green Street Pasadena, CA 91105

***RSVP required – invitation and contact information below***

Contact: Allison Reynolds, Marketing & Public Relations Associate
Pasadena Symphony Association
Phone Here
email address here

About the PSA: The Pasadena Symphony Association was founded in 1928 by Conductor Reginald Bland. The annual operating budget was a mere $3,500, which was funded entirely by the City of Pasadena. Because of the tremendous support it has continually received from the local community, The PSA grew into a nationally recognized, fully professional orchestra.
In February 2008, following its acquisition of the Pasadena POPS in 2007, the Pasadena Symphony Association now supports: the Pasadena Symphony, the Pasadena POPS and the Pasadena Youth Symphony Orchestra.

The continuing goal of the Pasadena Symphony Association is to make music available to everyone, offering low-cost tickets for children, students and seniors and implements music education programs in 14 public elementary schools and four middle schools. In total, the Pasadena Symphony Association presents more than 100 community concerts annually by the Pasadena Symphony and the Pasadena POPS, along with the free music series Musical Circus for families, Clásica – las raíces de la música (the roots of music) and Clazzical Notes. It is estimated that the Pasadena Symphony Association serves more than 45,000 individuals.

# # # #
Calendar Listings:
June 7th, 2009 Music Under The Stars – A free concert for the community
Presented by PARSONS and Target on the steps of City Hall
Pre-Concert fun at 5:30 | Concert Begins 7:30pm
Link to Flyer here
June 19th & 20th, 2009 – Grand Opening Concert weekend for the Pasadena POPS 2009 Season at Descanso Gardens. Concert begins at 7:30pm.
Link to Pops Schedule and Brochure

June 23rd, 2009 – John Moran Art Auction at the Pasadena Civic. Preview at 1:30pm, Auction starts at 6:00pm. Download Brochure Link

Address Here: Pasadena Symphony Pasadena Pops | 117 E. Colorado Blvd. | Suite 200 | Pasadena | CA | 91105

Filed Under: Blog Posts

How to Start a Business in Los Angeles County

Posted by Ali on October 21, 2009 with 0 Comments

Starting A Business

in Los Angeles, the slightly longer than it needs to be version:

Step 1

So many people have ideas that end up going nowhere simply because the concept of starting a business seems to be overwhelming. It’s actually really easy and I aim to show you how.

There are a couple of things you need to know about your own business before you get started. First, unless you go the route of incorporation (such as an LLC or C-Corp which I’ll explain later), a small business

is just you with a different name.

In the next few posts, I’ll walk you through all of the steps it takes. In fact, if you start on this path first thing in the morning, you can have your own business by the end of the day.

Step 2

So here I am continuing my work on this series, and my friend Greg calls me yesterday to tell me that he needs to open a bank account for his design business. PERFECT! We’ll use Greg as a case study.

First thing… What are you going to call yourself. If you go with something that incorporates your name, such as Flower by Greg or Greg Productions you actually don’t really need to do much. Most banks will accept checks made out to companies with your name in it. But that’s not why we’re here.

Greg needs to file a Fictitious Business Name Statement which he can do via mail, or by visiting the Los Angeles County Registrar. They chose the URL www.lavote.net, presumably because someone else had stolen the other good names and made them into adult sites. Or it could just be that the most commonly known service provided by the Registrar is voting records and counting. On the front page, you’ll see a nice little picture of the current Registrar:
Regsitrar

Isn’t that nice? You’ll also find a lot of information about marriage licenses, voting, death certificates, etc. That’s not why we’re here. Where you really want to be is here. The Registrar (which is also the County Clerk) did a really terrible job with this web page, and it becomes a major stumbling block for people who want to name their business. There are big blocks of text, randomly placed links and stern warnings in RED that don’t really mean much. I aim to sort this out for you.

Ok, so we know Greg needs a name for his new venture and that he also needs to file aFictitious Business Name Statement.

Before you move forward, you’re going to want to make sure no one else is using your business name. The Registrar website has a link to an Internet Search of Names. Here is where you find out if your new business name (that you spent all night coming up with) is taken or available.

When I type in just the name Greg, here are a few selected gems that pop out:

Greg A Carlson Enterprises
Greg and Jim’s Meat Co
Greg Fabuloux Enterprises
Greg Frost Mediation
Greg The Great Productions
Gregarious

And the list goes on and on and on. If you type in Greg’s Awesome Avatars… Guess what boys and girls? We’ve found a winner! Now, while you’re jumping around with glee that in LA County, no one has taken your name, you need to think of a few more things first.

Fictitious Business Name Statements aren’t the only means of getting yourself a business name. If you want to go the long complicated route, you can Incorporate. You Incorporate with the State of California and the Secretary of State has a listing of corporate entities that you can search. You’ll want to visit the California Business Portal(which incidentally is very well organized and lots of info on starting and maintaining a business) to conduct your search of corporations.

The California Business Search page lets you search for both Corporations and Limited Partnerships (LPs) and Limited Liability Companies (LLC). Be sure you search both categories! While technically you can have your own company in a county that shares a name with an LLC or Corporation, it’s not a good practice, so don’t do it.

Ok. Assuming you’ve come up with the name, and that you’ve searched high and low and found that you still have a bit of creativity left in you, you can go to the next step, Running the Gauntlet at the County Building.

Step 3

So if you’re this far, you have a name for your business that is unique only to you. You’re ready to fill out the paperwork!

First off, download the Application here.

One thing I should note at this point is that a Fictitious Business Name is also known as a DBA (Doing Business As). I’ll use the term interchangeably. The form is straightforward, and since it’s just you setting this up, you don’t need all sorts of complicated signatures. Those boxes are for a whole other day.

You’ll also notice multiple Section Four spaces. Unless you’re setting up a partnership, you don’t need to fill these out.

You can file 3 FBNs with the above form, and then attach additional forms if necessary. You pay $18 for the first name and $4 for each additional name. You’ll pay this fee when you get to the window.

And now to the title of this post. When you arrive at the County Clerk building, there will be tables, tents, chairs and lots of well dressed people out front milling about with clipboards. These people want to take advantage of you. Not in the good way either. They’re trying to be your best friend in order to have your FBN published in their paper. I should probably explain that part to you.

All new FBNs have to be filed in a ‘Newspaper of General Circulation’. Theoretically, this means that the public can check up on people filing those scary sounding Fictitious names. No one really checks. In fact, if you look at the list maintained by the County, you’ll see that you’ve never heard of most of these papers. I would guess that 90% of them exist solely for the purpose of publishing FBNs. That isn’t to say that they’re bad papers… They get the job done for you legally. But every penny that these ’sales people’ squeeze out of you is basically pure profit. I’ll come back to them in a minute.

So you’re walking in. Ignore these people. If they ask you why you came today, tell them it’s to get the death certificate of your brother/sister/parent/relative. That’ll shut ‘em up. Step inside of the poorly lit badly designed building and enjoy the smell of your Government at work. Look around for signs directing you to FBN filings. I’ve been there four times and it has been in a different office every time. If you get lost, ask for help. But do not ask anyone who you saw outside or who has even a remotely non-bureaucratic air about them – they will screw you. Once you find the office, step inside and be quiet.

The people who work behind the bullet proof glass now in front of you hate their jobs. I actually think the glass is to protect you, not them. First thing you’ll probably notice is the cornucopia of society that you are now part of, if only for a few minutes. Then you’ll see the giant hand written signs telling you that under no circumstances can you borrow a pen. Remember to bring a pen with you and don’t share it. That sign is there for a reason. I should probably also mention that it’s a good idea to print three copies of your completed application and to bring a blank one along. One of the few highlights of these employees’ day is when they point out an error in your application. Then you have to start over. They like that.

Once the paperwork is in order, and you’ve waited in line three times, it’s your turn to hand over your money. The employee will inspect your paperwork, give you a total and you pay them. They don’t really say anything, and most people simply leave. What you should do is step to the next window to pick up your copy of the filed documents. They will have placed a purple stamp in the upper right hand corner with today’s date. That means you’re gold. According to the county, you now have a Fictitious Business Name. Despite your dreams of financial freedom and Dom Perignon, there are a few steps left to the process.

Congratulations! You now have a stamped copy of your FBN statement. Now it needs to be published. And now would be the time to talk to these eager young sales people out front.

I warned you before not to talk to them. If you start up a conversation early, they “help” you by hand carrying your paperwork for you, and they even supply pens! They act like your friend the whole time and pretend that they’re volunteers or just like to help. But then, when it comes time to pay them to publish your FBN statement in their paper, they give you some ridiculous price.

Never pay more than $30.00 to have your FBN published. They usually start at $50 and go down from there. Tell them you’ll talk to someone else. Remind them that you were smart enough to get the purple stamp on your own and you’re certainly smart enough to find the best deal. One thing I will say – it does make sense to have these people publish your FBN, because it’s one less step for you to worry about later. Just don’t pay more than you absolutely have to.

After this little transaction, you’ll have two very important pieces of information. The first is your purple stamped FBN filing and the other is your receipt for publication. All you need now is to convince your bank that when you present a check to them made out to Greg’s Awesome Avatars, that they’ll actually give you the money.

Off to the bank!

Step 4

At this point, you’ve saved over $100 by doing this yourself. You’re at the last step and you can just see those million dollar checks coming your way. But if you don’t have a bank account setup, those checks might as well be kindling.

Setting up a new bank account shouldn’t be that big of a hassle, especially if you already have a banking relationship with said bank. Go to the bank in the mid morning or mid afternoon. Chances are you’ll be seen by a new account rep much quicker.

It should take about an hour and when you’re done, you’ll have your very own bank account!

Congratulations! You own your own business and you’re on the road to profit!

Filed Under: Blog Posts, Marketing, Small Business Consulting

Year End Financial Planning, What you need to be doing now

Posted by Ali on October 21, 2009 with 0 Comments

Taxes – Before December is here, you should take a look at your income tax withholding (if you’re employed) and the payments you’ve made on your own (if you’re self-employed). Have you paid in enough money to meet your tax liabilities? If you haven’t, plan to make those payments in the next couple of months. The last thing you want to do is to cause your tax bill to go up with an underpayment penalty.

Retirement Contributions – The IRS has very specific rules regarding how much money you’re allowed to contribute to IRA’s or 401(k)’s each year. Keep an eye on those rules and any contributions you’ve been planning to make as the end of the year approaches.

Flexible Spending Accounts – If you’ve used a flexible spending account to save for medical or childcare expenses, you’ll want to make sure that you’re on track to using those dollars before the end of the year. Schedule your purchases to ensure that you use your account’s balance in the allotted time. In many cases, if you don’t use your money, you will lose it.

Medical Insurance – Deductibles for medical insurance re-sets for most insurance carriers on January 1. If you’ve already met your deductible for this year, you should try to fit any other planned procedures into this year to avoid having to meet another deductible next year. This could be as simple as scheduling your next appointment at the end of December rather than at the beginning of January. The same principle applies to dental insurance, too.

Filed Under: Blog Posts, Small Business Consulting

How to set up a financial filing system

Posted by Ali on October 21, 2009 with 0 Comments

An important part of being in control of your finances is being able to keep the records you need. You have to do more than keep them, though. You have to know how to organize them so you will be able to find them when you need them. Organization is vital to keeping your financial records in order.

Setting up a working filing system is the best way to keeping your records organized. With well-labeled files and a neat place to hold them all together you will be on your way to a streamlined method of accounting for your finances. You won’t have to dread looking for the receipt and warranty paperwork from a major purchase because you’ll know exactly where it is.

Six easy steps are all it takes to get a working filing system up and running:

Step 1: Sort the papers you have now. Make piles of similar types of records (one pile for electric bills, another pile for your 401(k) statements, etc.) and discard anything you don’t need.

Step 2: Make folders for your categories. I tend to lean toward the idea of making a lot of folders. It’s easier to find things if I can narrow down the number of things that go into that folder. You should, however, choose a system that works for you. Maybe you don’t mind having the all of the utility bills in one folder.

Step 3: Use color to segregate your categories. This can be as easy as sticking blue stickers on the tab of one category’s folders and red stickers on another. Or you could go the extra mile and get different-colored folders for each category. The important part of this step is to find a way to differentiate your varying types of records. You might use green for assets, your bank statements and retirement account statements. You might use yellow for warranty information. Red might be good for expenses like your credit card statements or mortgage statement.

Step 4: Group your folders together by category. This is where the color comes in handy. Once you start putting your folders away, you’ll be able to quickly tell when something is in the wrong place. One lonely blue folder stuck in a sea of red folders is sure to catch your eye.

Step 5: Store your folders. If you have access to a filing cabinet, use that. But if you don’t, there are a couple of other options. You can buy one of those metal systems that allow you to convert a regular drawer into a filing space. (Pay close attention to the dimensions of your drawer as you select one of these systems.) Another option is to buy one of those mobile filing systems. Unfortunately, these don’t always hold a lot of files, so you could need another one pretty quickly.

Step 6: Use your system. Avoid the temptation to keep piling papers on your desk or table; now that you have your files set up, you can easily drop each statement or invoice away as soon as it has been reviewed or paid. By taking an extra minute to put things away the first time you handle them you can avoid having a mountain of filing at your desk.

Filed Under: Blog Posts, Small Business Consulting

Get SmartER Tip of the week – Twitter Tools

Posted by Ali on October 21, 2009 with 0 Comments

Check out Hootsuite and Twitterberry as management tools for your twitter accounts. They allow you to schedule tweets in advance and tweet directly from your blackberry saving you time and energy and allowing you to delegate research and scheduling to your in office or virtual assistants.

Filed Under: Blog Posts, Get SmartER Tips, Online Branding, Small Business Consulting

Creating and Tracking Successful Email Campaigns

Posted by Ali on October 21, 2009 with 0 Comments

The Subject Line

“Personalized emails boost open rates”, according to a MailerMailer study. “The email service provider found that personalized subject lines in particular increased the number of times recipients opened their mailings.”  Now, I myself have often found that some pretty clever spammers somehow found my name and use it regularly to try to get me to open their “special offer” emails – so I’m leery of using names in subject lines. However, I have found that having a meaty subject line that is specific and clear and not “salesy” can lead to more emails being opened and read – and responded to…

“The Subject line is so important that even when marketers have recipients permission, the WRONG line can still mean trouble – since the from and subject lines are key elements that help recipients quickly decide whether the email is spam,” said David Hallerman of eMarketer.

A December 2006 study by the Email Sender and Provider Coalition and LPSOS confirmed how crucial “From” and “Subject” lines are – “About seven in to US internet users said they judged these lines when deciding whether to report an email as spam.” Yet even legitimate marketers confuse the issues by sending messages from different groups or individuals within their companies with various from and subject lines – making their email campaigns more likely to be flagged as spam by the recipient. Building a trusted relationship between sender and recipient will greatly increase the overall effectiveness of marketing spending – especially when there are links within email content that lead to a website with more information available.

Here are some easy subject line tips:

•    Be Unique but Descriptive – You want your message to stand out in a crowded “inbox” and make people curious about what you have to say without being too bizarre, For example, “Margarita Happy Hour Marks the Launch Of Marketing Campaign To ‘07 Law School Grads” – definitely unique but you get a sense of what the email will be about.  This would probably be a press release of some sort.

•    Desirability Factor – A subject line that inspires the reader to fin out how to achieve a specific result works well if you have a product or service that explains how to achieve a particular goal. For Example, “How To Write Effective Newsletter Copy”

•     Quick Results – A subject line that promises fast results tens to be hard to resist. For Example, “The Quickest Way to Build a Subscriber Database.”

•    Something Worth Mentioning– If your list is targeted (and it should be for the best results), you will have an understanding about what topics your readers will relate to and what they will not be interested in. If something happens in the press or society in general you feel that is worth commenting on or incorporating into your email message because you think your readers will be interested – don’t be afraid of mentioning it in your subject line. For Example, “Legal Industry is John McCain’s #1 source of Campaign Donations to Date – Attorneys are A Politically Active Group this year.” The Email might be about political issues related to the industry of your readers – and you might provide some upcoming events where they can get involved in their community, etc.

The key of successful subject lines is communicating that you have something of value that they will want to read or learn about – then delivering the value in the content of your email.  The Follow Up

When US customers say they are interested in a company – more than one half of them are open to getting an interactive follow up such as a personalized email or text message – and when they don’t receive a follow up – they are often confused or frustrated – which degrades the whole e-marketing process. Still – according to a 2006 Email Data Source study – “more than two thirds of companies do not sent either a follow up or welcoming email or sales offer after their initial emails have been responded to”.  For a small business owner – it can be tricky to make sure you follow up with everyone who reaches out to you – I have been guilty of it myself. This is one reason why putting a contact management system in place along with an email program that an track responses and opens is so important – you can always go back and follow up with those customers that requested more information – even if you missed the initial email or phone call.

Nearly All e-mail marketers measure their campaigns but many do not use the results to support their budgeting goals. Though nearly all respondents in a a survey conducted by EmailStattcenter.com said they measure results 24 to 48 hours after email deployment, fewer than one fifth said they measured their annual results or considered them in their budget forecasting for the next year.  Still, at the end of 2007 more online marketers planned to increase their budgets for in-house email lists than for any other online ad tactic except for search marketing, according to MarketingSherpa.  This means that spending on direct marketing email in the United States will hit $600 million in 2008. Why? Because Email produces the highest response rate for lead generation and is generally the lowest cost way to run a campaign with the average ROI being $45.65 for every dollar spent.

SENDING & TRACKING

The days where you could send a single email and blind copy hundreds of other people are over – thank goodness. Email Service Providers – ESP’s – are companies that provide one or more of the following commercial e-mail services:

•    Improved Email Deliverability

•    Database and List Management

•    Email Template Design

•    Email Message and Content Creation

•    Tracking Reports

•    Advice and Consulting along with tutorials

•    Survey options

•    Graphs & Response charts for tracking survey responses and email opens

•    Unsubscribe services and spam filtering and alerts

•    Storage of your email lists and tracking bounced and blocked emails

They can assist you with template design of newsletters, promotions, announcements, press releases, invitations, greeting cards, business letters, etc.
Here are some ESP options that have good reputations, I use both.

1.    Constant Contact www.constantcontact.com

2.    aweber http://aweber.com/?315736

Filed Under: Blog Posts, Marketing, Online Branding, Small Business Consulting

Direct Mail Marketing – Dead?

Posted by Ali on October 21, 2009 with 0 Comments

It can be expensive – but many vendors and services swear by its’ effectiveness. Here are some general pros and cons to help you decide if it might be right for you.

Advantages to Using Direct Mail:

  • By targeting a very specific group and taking your message directly to them, you have the ability to have complete control over who receives your advertising message, and who doesn’t. For example, if you are targeting opportunity seekers, a quality mailing list can let you focus on that specific group.
  • A well-planned direct mail campaign can result in the most consistent and predictable method of customer generation, and it provides great flexibility in message presentation. ·
  • Direct mail makes couponing and sampling practical. It can help isolate advertising response to a single segment, and compare returns in one area with those of another.
  • Each letter campaign gives you the ability to precisely track your return on investment (ROI This way you know to the penny whether or not your marketing plan is working.
  • You can test a promotion on a small scale before committing a huge budget.
  • You can develop a distinctive personality for your business. It can be used to enhance your image, give your customers or clients information, and persuade them to place an order.

Disadvantages of Direct Mail:

  • Direct mail is often considered to be junk mail. Seldom does a one-shot mailing have the desired result. You must have a long term, well thought out marketing plan.
  • Your piece is competing with dozens of other pieces for attention. If you don’t know what you are doing, it is easy to waste a lot of money.
  • There is a relatively high cost per contact.
  • It may be difficult to obtain updated, accurate mailing lists.

Define Your Target Market

Determine who you want to reach before you develop your direct mail program. This allows you to specifically target your message to fit specific needs. It is the best advertising medium for customizing your appeal. With improved database resources and demographics, you can effectively precisely target the prospect you are aiming at.

The task of deciding your mailing package content, its design, and its message is up to you. However, remember to attract the reader’s interest, it must be clear, concise and easy to respond to. Coordinate your mailing with other advertising methods to significantly increase your return. Also, presenting one specific offer instead of a variety of options is usually more effective.

Diligently test and track your campaigns, and direct mail can become a profitable piece of your marketing mix!

Filed Under: Blog Posts, Marketing, Online Branding, Small Business Consulting

PR – The Basics

Posted by Ali on October 21, 2009 with 0 Comments


One of the least expensive and potentially most effective ways to promote your Web site or business is through public relations. These articles and resources are here to help guide you through that process. There are a variety of reasons the media and others may find what you have to say newsworthy.To find a piece newsworthy, reporters and others in the media must be able to see a direct connection between the story and reader or listener interest. If they are not convinced a piece will be interesting to their audience, they will not be interested in your news. In other words, your public relations focus should be on what draws an audience.

Some newsworthy topics may include:

  • an award or other recognition
  • local interest topic or angle
  • association with a celebrity or expert
  • topic of mass interest (i.e. current hot topics)
  • conferences, lectures, or classes
  • public appearances
  • a contest or competition
  • public events
  • recognition in a professional field
  • exhibit news
  • tie-in to a publication’s regular column
  • holiday or event tie-in
  • tips articles
  • a how-to article
  • training classes
  • human interest angle
  • an unusual event or occurrence
  • an important event (either observed or participated in)
  • volunteer opportunities
  • leadership or participation in an organization
  • a Web site event
Filed Under: Blog Posts, Marketing, Online Branding, Small Business Consulting

Considerations in Logo Design

Posted by Ali on October 21, 2009 with 0 Comments

Many small companies do not invest in a professional-looking logo. But, the right logo, with the right characteristics, will boost your visibility, credibility and memorability – which means more business for you!

These characteristics include:

  • Memorability, so that your logo sticks at the forefront of your potential clients’ minds. That way, they’ll think of you next time they have a need.
  • Uniqueness, which helps you stand out from the crowd. For example, if everyone in your industry uses a particular symbol (i.e., travel agencies often use globes in their logos), try to use something else – that way, your logo doesn’t just look like everyone else’s.
  • Meaningful logos spread the message about the distinguishing characteristics of your business.
  • Consistency in use of your logo, tagline, materials. Repetition helps people to remember who you are and what you do.
  • Scalability, so that your logo looks equally good on a business card and on a sign for your business (or a billboard!), and at every size in between. A second part of this is legibility of your business’s name at different logo sizes, and making sure that your designer chooses a font that is readable
  • Professional, in the quality of the graphics, the printing and the paper your materials are printed on.
  • Timelessness in your logo will ensure that you don’t have to redesign your logo in just a few years, and that your investment and equity in your design will be lasting.
  • Differentiation between the colors in your logo – and not just in terms of hue, but in terms of value as well, so that it translates well to black and white or greyscale, and so that color blind people can read it.

Having a professionally designed logo can really give your business a jump start, and help your business to get the attention – and clients – you need to succeed.

Filed Under: Blog Posts, Marketing, Online Branding, Small Business Consulting

Diversify Your Marketing For Success

Posted by Ali on October 21, 2009 with 0 Comments

Many small business people tend to look at marketing as an expense that takes profit away from the business, as a luxury item to “splurge” on when they have the money, but not a necessity. This approach is short-sighted. Marketing is an investment that increases profit and improves business value over time.

Smart stock pickers’ portfolios generally outperform the overall market. Similarly, smart marketers outperform the overall competition. Marketers and stock pickers are both able to see how strategic investments create opportunities for growth and profit. In fact, many principles of investing can also apply to marketing.

Strategy is Crucial

Overall strategy and goals drive your picks, whether they are stocks or marketing programs. A retired 65-year-old, for example, will want to conserve income and avoid risk of losing her nest egg. So, you are not likely to find speculative biotech companies – no matter how attractive the potential growth – in her portfolio. The 25-year-old, however, may load his portfolio with those and other risky stocks with potential for high long-term gains. Both investors are right, because they are using strategies that will help them achieve their individual goals.

Diversify to Reduce your risk of failure

We’ve all heard the advice “don’t put all your eggs in one basket” and “diversify your portfolio.” This applies equally to investing and marketing. Put all of your money in one stock and — if some unforeseen event decreases the stock value — then your investment tanks.

The same thing can happen if you put all of your marketing budget into one program. If some unforeseen event decreases effectiveness of that marketing program, then your marketing investment shrivels.

Diversify not only by type of program, but also by outlook. A mix of long-term and short-term marketing programs will help your profits both now and in the future.

Choose Within Your Budget

If you have a limited budget — as most of us do — there will be many more good choices than your budget can cover. In both investing and marketing, you must evaluate your choices and pick those you believe will get the best return given the amount you have to invest. You will take a pass on some excellent opportunities because your marketing will become “lopsided,” and you’ll find yourself with a non-diversified marketing mix.

Know That Business is Cyclical and Recognize Trends

“Buy low sell high” is like saying “get in while the gettin’ is still good.” Marketing programs — like stocks — go in and out of favor and fluctuate in value over time. Solid, new marketing programs tend to be highly effective at first, then become less effective as more marketers “jump on the bandwagon” and consumers/customers become less receptive. Your challenge is to recognize the difference between an “undervalued” program and a “dog.”

As you put together your marketing plan or choose marketing programs throughout the year, treat your business’ marketing mix as an investment portfolio and you are sure to gain profits.

Filed Under: Blog Posts, Marketing, Small Business Consulting

Get SmartER Tip of the Week

Twitter Tools Check out Hootsuite and Twitterberry as management tools for your twitter accounts. They allow you to schedule tweets in advance and tweet directly from your blackberry saving you time and energy and allowing you to delegate research and scheduling to your in office or virtual assistants.
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