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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 radioDid you know that many different studies show that 90% of Americans, age 12 and older, tune in at least once a week to radio? In addition, those listeners on average listen to radio 13 hours a week, according to research giant, Nielsen. That is a powerful statistic. Even though digital strategies are on the rise, the power of radio is phenomenal. It is proven that radio is significantly instrumental in driving search. In today’s digital world, according to Forrester Research data, 71% of consumers start their search for a new product/service through internet search. This search can be directed by use of radio advertising. Radio is also one of the most cost-effective ways to reach a targeted audience…and equally important, you have the power of “sound” to sell your message, meaning radio gives you the power to put a voice with a brand.

marketing matters header for 4 13 18 totgmarketing matters totg photoApril 18-22 Tour of the Gila is hosted in Silver City. Are you ready? As a business, this is a huge opportunity, as are many events, to capitalize on these tourists/visitors. This will be the 32nd year for this annual event that is considered one of the top three cycling events in ALL of North America…and it is right here in our hometown. On top of that, with new race marketing initiatives by SkyWest Media, this race will have substantial “eyes” on Silver City. For example, NBC Sports and USA Today are coming.

marketing matters understanding digital marketing triad header 4 6 18Most recognize that there is a lot that goes into understanding the digital world of marketing. What used to be rather straight forward choices associated with traditional media of print, broadcast, and OOH (out-of-house advertising signage), in the past 10 years has become a large puzzle. As advertising focus and dollars have shifted from traditional media to online and electronic media, the knowledge of how advertising works has had to evolve as well.

marketing matters header 3 30 18 sales promotionsDo you truly have a strategy behind your sales promotions or are you just trying everything you can without clear goals and strategies? Having a focused strategy is important. Having sales promotional goals are needed to obtain desired results. Just trying to do anything and everything all the time does not lead to sustainable success.
How to design strategy to achieve sales promotion goals:
Step 1: Identify “types of buyers” for your business
Step 2: Determine “desired results”
Step 3: Create aligned strategy with type of buyer, desired results, and the sales promotions
Step specifics:

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