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Marketing Your Business With Video

The current trend in small business marketing communications is video. I’m sure that most of us can agree that we enjoy watching videos on our computers. We view videos for entertainment, learning new skills, and research. YouTube and Vimeo offer a plethora of videos about many topics. An example is my recently canceling my gym membership and watching TRX exercise videos to make sure I’m using proper form with my at-home exercises.

If you have a website you can place your video on your landing page explaining what you do and the benefits that you can provide to your customers. There are many platforms available for businesses to highlight their videos and create brand awareness. Social networks are ideal platforms for communicating and engaging prospective buyers. Get your customers’ attention by emailing a short video or a link.

There are different levels of production, the first being the advertising agency. These agencies will give you the most sophisticated and polished product with excellent results, but there is a high cost.

Some companies will produce a promotional video for under $2,000. Most of these companies are staffed by videographers, not Don Draper’s (Mad Men), who will need your guidance and input.

The easiest and most cost-efficient method is to use software that is available online. The cost of producing a video has become negligible, and the technology ranges from moderate to very easy depending on the software. The easiest way to create a marketing video is to use a template format that uses photos to tell your story and a VoiceOver.

One of the simplest editing tools to use is Animoto < https://animoto.com/business/promo-video >. Animoto will walk you through the production process starting with a storyboard template where you can create your big idea. You can upload your photos and video clips or select from their stock library. Edit the video and customize it to fit your organization’s identity. Viola, you have produced your video and are ready for distribution.

In my previous career, I taught marketing at a major university. One of the courses that I taught was Advertising. I am a firm believer in hands-on learning and my students were required to produce a promotional video for a local small business as their final project. I created an 88-page project manual to guide them through the process. If you would like a pdf copy of this manual send your request to nick@kbizbrokers.com.

Identifying Unique Business Opportunities

Successful entrepreneurs have a special talent for identifying unique business opportunities. They can identify market trends and navigate their resources to capitalize on these market transformations. When a gap or problem is identified a business owner should seek a solution, such as a product or service to fill this void.

All market indications are that this pandemic will be with us for many months, possibly another year. Some of the results of the changes we are experiencing will be permanent. Many companies will be downsizing their organizations. Employees will continue to work from home saving companies huge sums of money in office rentals. Commercial property owners in downtown city locations will have to reinvent their business model. They will have to convert their offices to other uses or perish. Recently, I heard about a motel that transfigured its rooms into mini-office suites. This is an example of a motel owner taking advantage of the market change to fill his empty rooms to long term leases.

If you’re in a business that has been affected by the current economic downturn try brainstorming with your partners and employees and discover an opportunity that can be beneficial to your operation. Use social media to get the pulse of your customers’ wants and needs. There is a wealth of information on the web, trade publications, and industry reports if you search and analyze your findings.

Once you have found a target opportunity the next step is to formulate a marketing strategy. When developing your strategy analyze financial startup costs, target market size, and market potential.

The best way that I’ve found developing a marketing plan is to purchase MP software that is available online.

https://www.capterra.com/marketing-planning-software/.

If you have any ideas or comments, please contact our manager.

Dennis Hassis, Agent Manager

dennis@kbizbrokers.com

How an Effective Marketing Mix can Increase Profits 
(Part 3, Place & Promotion)

In this third segment of the four P’s of marketing, we will cover place and promotion. These two segments are intertwined and should be covered in one blog post.

The place is where your sales are located, also known as the channels of distribution.  Promotion includes selling, advertising, sales promotion, and public relations.

During these chaotic times, businesses are exploring new channels to sell their products and services. Governors are reimposing the stricter guidelines that were in effect a few months ago. This pandemic will be with us for several more months and businesses will have to adapt and overcome these conditions.

Depending on your type of business you may need different tactics to distribute and promote your product or services. If you are a B2B (business to business) supplier your strategy will require a different approach than B2C (business to consumer) sellers.

B2B distribution in most cases is not done from a retail location. The driving force has been personal selling which is becoming more difficult. Customers and prospects are not receptive to cold calls in this climate. A customer service center with knowledgeable personnel who can sell will be more effective. You should have a website that customers can go to review your product-line, and established customers can place reorders. The most effective way to have potential buyers go to your website is by email promotions. If you don’t have email addresses you can purchase lists online at a low cost. Unlike B2C you have a finite universe to sell to that can be managed with direct marketing. Trade associations that your customers may be members of are a great place to start. You can advertise in their publications or be a guest speaker at one of their events.

B2C sellers whom many have brick-and-mortar locations may have to reevaluate how they will conduct business to survive. Retailers should consider using social media to promote their wares. There is a void forming in the marketplace, the big chains are closing stores and some like Lord & Taylor are going out of business. https://moneywise.com/a/chains-closing-the-most-stores-in-2020

Aggressive retailers can use this as an opportunity to fill this vacuum. Marlton True Value is an example of a local retailer who is flourishing. They have a knowledgeable staff who are there to answer questions. The pricing is competitive, a complete selection of products, a convenient location in a strip center, and curbside pickup. This is an example of why shoppers don’t go to big box stores.

In closing, we are all creatures of habit, and some businesses are thriving, because they have revised their business model. These changes may include pickup and delivery options that make life more convenient.

How an Effective Marketing Mix can Increase Profits
(Part 2, Pricing)

In my last blog post, we covered the 4 Ps of marketing also known as the marketing mix, and how these four basic concepts can be used as a foundation for your marketing program. Also, that blog post was an explanation of the first P which is the Product. In this post, we will cover the importance of Pricing your goods and services.

Price is what your customer is willing to pay for the product. Many businesses work on a cost-plus mark-up to determine their selling price. This is very common in retailing, adjusting the price to meet competition or discounting, and increasing sales volume while creating an image of lower prices.

Companies that offer services with a product have more latitude in adjusting their pricing by offering superior performance. An example of this happened to me recently when I contacted painters for my home renovation. The individual that I hired had the highest price quote, but he sold me on the quality of the paint and went into detail explaining what he was going to do. He described the preparation of the surface, the types of paint used, and the results I could expect.

There is a psychology in pricing which is used to create an impression of a lower price by ending with 99 cents. A price of $5.99 appears cheaper than a selling price of $6.00. Upscale restaurants use a whole number such as $29 with no zeros to convey the image of an affordable price.

In my former career in manufacturing, we were able to increase profit margins by streamlining our product line. This increased the turnover of parts and raw materials leading to a higher turnover of inventory. Another contributing ingredient was that we increased our purchase quantities of the faster moving materials which increased our discounts from suppliers. The selling prices were never lowered and the net result was a very high gross margin of profit.

If you have any questions, please contact me at nick@kbizbrokers.com

The term marketing seems to have a different meaning for different business people. These days most of the marketing we hear about is social media and others think of it as a way of pushing a product onto a consumer. True marketing is an amalgamation of several social

sciences which include economics, psychology, sociology, political science, human geography, and demography. The fusion of all these disciplines has created a method for entrepreneurs to satisfy their customers’ needs and wants while increasing their profits.

As I’ve stated many times in previous blog posts we are currently in a difficult time for businesses to stay afloat. As we enter the fall season it is predicted that the COVID-19 virus will spike and we should expect government regulations to tighten. Now is the time to predetermine your strategy in anticipation and have a plan to implement.

The Marketing Mix also referred to as 4Ps of Marketing is the model that is used as building blocks for a companies strategy. The four components are Product, Place, Price, and Promotion. In this posting, we will cover the Product and in future posts Place, Price and Promotion will be discussed.

Product
The term product in marketing represents a physical object, service, or item bundled with a service. The products that you are supplying to your target market fit their needs. Facts to consider are demographics that include gender, age, race, marital status, and discretionary income.

The best way to know what your customers want is to do some marketing research. You can start with secondary research available online from government websites sba.gov fedstats.gov and factfinder2.census.gov. Trade groups maintain statistics about trends in marketing.

If you want to refine the data from secondary sources you can conduct your primary research. The best way to start is to form a focus group of 6 to 12 customers that represent your target market and ask them open-ended questions. From this data you can develop a survey questionnaire that can be used online by going to SurveyMonkey.com or SurveyGizmo.com, both offer free options.

In closing, there is the 80/20 rule in product marketing and that is 80% of your sales come from 20% of your product line. For decades the mantra in manufacturing has been product line extension. When a company has a successful product they expand their line by introducing additional commodity variations of flavors, sizes, colors, budget, and luxury models. Now is the time for small businesses to cut back your selection to the fastest moving items.

If you have any questions, please contact me at nick@kbizbrokers.com

Old School Marketing Techniques

During a meeting recently I discussed with a business owner about possible ways of marketing his company. I sensed from our conversation that he was not fond of computers or the internet. Therefore, I did not suggest any digital marketing media such as websites, blogs, or social media. My suggestions were to use time-tested old school techniques that were effective before the internet and are still viable.  

Community Involvement….create a public persona

Get involved with the community by joining the Chamber of Commerce or Rotary. These organizations will help you get connected with the local community. You can participate in charity fundraising events, donate your time and services, or do public speaking engagements that demonstrate your expertise in your field.

Mail/eMail Marketing….promotional media

Mail/email marketing is a strategy to connect with customers and prospects. You can use mail/email to send out routine information like reminders, but you can also use mail/email to send out marketing materials such as newsletters 

Newsletters….drive sales

Newsletters are a means of keeping your customers informed. Your weekly newsletter may include news articles, current trends in your industry, to special offers with limited time. People tend to be influenced into making purchases when there is a deadline. Giving out tips is a technique of reassuring customers that you care about their well-being, even when they don’t currently patronize your business. Weekly newsletters create familiarity with your company and, build trust. The newsletter can be the helm that steers your customer to your company’s website and social media sites. 

Attending Fairs….meet and greet

Attending community, and small business fairs will create public awareness of your business. This gives potential new customers a chance to sample your products and services. It could be something as simple as a product sample or service demonstration.  

Productive marketing communications is a key element for a business owner to expand their reach into the marketplace. There are many mediums that marketers can use to inform customers, prospective customers of new products, services, and discounts available to them. In this blog post, I will be discussing email.

Email is a cost-effective way for business to get their message out to their audience. Before the advent of the internet and email, businesses used direct mail to reach their customers and many still use this costly method. Email used is to find new customers, maintain an interest from existing customers, and introduce new offerings.

Direct mail marketing first made an appearance 1681 in the American colonies by the founder of Pennsylvania William Penn. Penn published a flyer which stimulated many northern Europeans to settle in Penn’s Woods.

Just like any other type of media advertising email should follow the same format for results.
Headline
Must touch people that read it. (30% Read)
Short & Cleaver / Affect Emotions (laugh, angry, curious, think)

Subhead
Use to break up your copy to make it more interesting

Body (Copy)

Follow the headline – create visual continuity

Compelling, persuasive, clear, precise
Two strong points, two columns, justify
Serif Typeface …. easy to read

Image (Visual) (70% Look)
Photo, Drawing, Graphic
Draws attention to the ad
I/2 your ad when possible
People relate to realistic photographs

Call to Action
———————————————
$5.00 off any purchase of
$25.00 or more
Offer Expires on August 15, 2020
———————————————
Contact Information
Address, Phone #, Website, Logo
Offer  Placement

Before sending emails you need to create a list of email addresses that should be segmented by groups. Your core customers are your primary audience, by keeping them informed you create loyalty and increase sales. The next segment is your target market, these are prospects you want to raise awareness and engage them into becoming customers. Most platforms give you feedback as to which emails have not been opened. If you continue to send them emails they will consider your communications as junk mail and you will alienate them. You could follow-up and send them a personal email asking why they did not read your emails.

As I have stated in previous posts I prefer to discuss products that I’m familiar with using. At this time at Keystone Business Brokers, we are implementing an email program to reach out to clients and prospects. There are at least 20 email platforms with varying features and for our specific use we are reviewing several providers and we expect to be operational within the next two weeks. If you would like to receive our emails with our current listings of businesses available please send your email address to nick@kbizbrokers.com

Post-Production Stage 3 (Editing)

In this week’s installment of producing a promotional video, we will go over the techniques of editing the photos, the optional video clips and creating a slideshow promotional video. If you haven’t read the previous posts of this serialized tutorial, please read blog posts dated March 16, 2020, Video Marketing for Small Business, March 22, 2020, Pre-Production and March 29,2020 Production (Shooting Images).

The shooting is complete, and you’ve got some great images. Now the trick is assembling your shots into a coherent message that will bring you more customers. In this segment, we will explain how to take all the hard work you’ve done and mold it into a great promotional slideshow video.

Editing your commercial can seem like a daunting task when you begin. With tons of footage and a simple script, the first step is to organize your clips. If you’re using a removable media based camera, you can copy the files onto your computer, watch each image, and rename the files. Remember to use the shot log as a reference to help speed up the process.

Give the names of the images that represent the shots so that you can find them easily when you’re editing. Also, note the best shots as you review them. You may find that what you thought was your best take during shooting might have a customer looking directly into the lens or a bump in your camera move. Remember to choose the shots that best represent your business or product.

Many commercials have a narrator giving information that re-enforces the visual message that your footage and graphics are conveying. This narration is called a Voice-over or V.O. Whether you’re doing the voice-over yourself, using a local personality, or an online voice-over service, It’s important that the tone of your voice-over matches the commercial. You don’t want a monster truck voice-over on a relaxing spa commercial.

When it comes to choosing music, you’ll need to make sure to secure the rights to whatever you choose. Using popular music in a promotional video without it is illegal and could potentially put you at risk for big trouble, followed by big fines.

Finally, be sure to select music that matches the mood and tone of the spot you’ve created. This becomes even more important if the spot doesn’t contain a voice-over and relies solely on music. Once you’ve got your voice-over and music ready, you can finally start editing the footage.

Typically, you can create the initial cut using your footage, and then add any supporting graphics that you need. Remember that with local commercials, the viewer needs to know where the business is, and how to contact them, so be sure to include information such as the address, phone number, and website in your spot.

Once the footage and graphics are looking good, you can easily create many sound effects on your own. The real trick is balancing the voice over, music and so they don’t interfere with each other. When in doubt, just make sure that the message of the commercial isn’t getting trampled on by guitars and swoosh sounds. So, you’ve got the perfect blend of footage, graphics, and the concept you thought up is now a tangible piece of finished work.

After reading this information you may feel that you don’t have the skills necessary to edit. Do not fret, with modern computer technology there are apps and programs that do the editing for you and give you the recommended editors to make this easy for the non-photographer/videographer.

Starting with editing your images with Photolemur – https://photolemur.com
One-button automatic photo utility for Mac and Windows that perfect your photos using artificial intelligence, smart tech and a bit of magic. Estimated cost $30.00
Youtube: https://youtu.be/4gg2_GL5SDE        Video 59 seconds                                                                                                                                                                                                                                                                                                The online video editor is Animoto – Animoto.com

You can create impressive videos in minutes with this drag-and-drop video maker. No video editing experience necessary. Free trial.
Youtube https://youtu.be/s2Sl4Xb8qzU                    Video 27 seconds

Good luck with this project and if you have any marketing questions, please feel free to contact me at Keystone Business Brokers.
                                                  Nick Santarone, Marketing Director, nick@kbizbrokers.com

Production Stage 2 (Shooting)
In this week’s installment of producing a promotional video, we will go over the techniques of shooting the photos and the optional video clips. If you haven’t read the previous posts of this serialized tutorial, please read blog posts dated March 16, 2020, Video Marketing for Small Business and March 22, 2020, Pre-Production.

Production Stage 1.
As I stated in a previous post this is a simplified way for an entrepreneur with little or no photographic or video background to create a promotional video. You can use your smart-phone to shoot images and video clips. My first recommendation is that you take a lot of images so that when you start editing you have a very large selection of photos to choose from. Try taking shots from different angles and distances. Today, with digital technology you can take ten images for each picture needed. In the post-production phase, it’s better to have an abundance of images to choose from.

Establishing Shot
The first picture in your photo essay is the establishing shot which is a wide-angle view of the subject that sets the scene. An example would be the front of a retail establishment with distinctive identifying features. For you Seinfeld Show fans you may remember at the beginning of each episode the first image you saw was either the front of the coffee shop or the apartment house where Jerry lived. This told the viewers where the first scene was going to take place.

The body of your offer
Show the products or services that you are offering the prospective customer. Consumers relate to realistic photographs. This is where you will insert a persuasive text which we will cover next week in stage 3. You should have many visuals that will draw and maintain attention.

Closing Shot
This is the last shot in your gallery of photos and should be strong enough to support your comments to close the deal.
When shooting take a variety of pictures wide-angle, medium distance, close-ups, and action shots.

If you have any marketing questions, please feel free to contact me at Keystone Business Brokers.
Nick Santarone, Marketing Director, nick@kbizbrokers.com

Next week’s topic is post-production (Stage 3)

This is a link to a video that was produced for a local restaurant by my advertising students at Penn State University, Abington PA.                           https://vimeo.com/100336918