A May Idea
While you're out buying begonias, lawn chairs, or a cooler for the warm weather ahead, take note of the marketing ideas around you. These are likely fully tested and proven ideas. Large companies spend millions on market research to sell more. If at first they don't succeed, they spend millions more to improve results.
Small business owners often can't afford to spend on market research. So, why not borrow what the big companies have learned for free!
Have you seen Legos "Friends" collections at the toy store? Less than 10% of Legos sets were purchased for girls until, in 2012, after years of research, with thousands of young female participants and their mothers, the company created Legos "Friends." These more brightly colored blocks have larger figurines with accessories. Targeting specific audiences with color changes, new themes and accessories improved sales, but Legos are still construction blocks. Perhaps, the increase in sales to girls is contributing to a significant rise in female engineering students and construction employees!
During Mindful Profits workshops, I talk about the value of direct mail - the kind that is printed on paper and delivered to your mail box. Why? Because big company research shows it is effective. Why else would Google send my company direct mail every quarter offering deals on online ads? Direct mail is contributing to the rise of internet marketing. Maybe it can do the same for your business!
We would love to help you, or a small business owner you know, make the most of marketing ideas!
All the best for your success,
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Amanda Weathersby is an entrepreneur who sold one business to a publicly traded company and another to her partners. She, like more than 300 speakers at 100 Entrepreneur Foundation classes, also knows about business failures. Creative problem solving and predictive forecasting tools have become her passion.
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