Caffeinated Marketing

Gettting through all the noise, one cup at a time

What Is Your Cost Per Person? March 23, 2011

Filed under: Tip of the Day — jenharris @ 9:20 pm
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If you are a small business & you do not know your cost per person…go grab your keys, lock the door & put up a sign that says “Sorry, Out of Business”. I could be much more crass and say “Sorry, We Had a Good Business Idea, but Don’t Know What A Business Plan Is”.

Why Should you know this simple number? (If you don’t know it, go here to calculate and convert for your type of biz – or here for another good article)
Every opportunity to promote your company that comes along should be calculated on how it will benefit your bottom line. Don’t get sold on how many eye balls see you, how many times your name is mentioned or who you are gong to be associated with (of course these are essential to know when calculating your RISK & ROI of each promotion), it’s about WHAT’S IN IT FOR YOU? And let’s be honest, you don’t have “general branding” marketing dollars – do you? So be picky where you spend those valuable marketing dollars.

Let’s Crunch Some Numbers:
You are selling a widget.
Using the above formula, you have figured that your cost per customer is (X) and you have an opportunity that fits both your demographic & psychgraphic profile of your desired client. Your objectives & strategy line up as well (if you don’t know what these are – find your sign).

I am not a math wiz – but here is what jen math looks like:  Y/X=Z

Cost Per Customer: $10
Opportunity: $500
Need to sell 50 widgets to make the opportunity pay for itself.
…and of course you have added some kind of tracking (text, phone number, super secret word of the day, funny face, certain product etc) that will tell you EXACTLY where those 50 people came from.

I found this blog comment on a post on MarketingProfs.com when I was subscribing – now I am not & I can’t find the link. sorry, looser link….but some good info regardless that I scraped while researching for this post.

On top of that, I’d calculate the ROI by looking at:

Cost per Acquisition (CPA) = Cost of campaign / Number of sales

Return On Advertising Spend (ROAS) = Total Revenue Resulting from Sales / Cost of campaign

PROFITABLE Return on Advertising Spend (PROAS) = (Total Revenue Resulting from Sales * Margin) / Cost of campaign

My favorite is CPA. I use it to compare advertising campaigns quickly

PS: Thanks Tac – I needed the push.

 

My First Client: Cobalt Off Road Center December 28, 2010

Filed under: Free Ideas,Tip of the Day — jenharris @ 10:44 am
Tags: , ,

This is going to be a series of how I am going to assist Cobalt with their Marketing as a whole – not just radio.  Some people here at Citadel have told me not to waste my time or get sucked in to the “social media thing”.  Really? I don’t plan on doing it for them, rather teach them the reasons WHY they should be engaging, HOW that works with their strategy and WHERE it integrates with their radio campaign.  Follow along and you can do this too.  This post is mainly about STRATEGY & our first steps.
I am going to use the POST method – brilliant, precise and it works. Buy the book, you won’t be sorry.

Background:

  • Cobalt doesn’t have a social presence – perfect! I don’t have to undo terrible practices. (mainly a business can NOT be a “friend” – you will eventually get shut down from FB & loose ALL THAT DATA).
  • Cobalt has opened up a retail Off Road Center that is on the same lot to their customized Truck Equipment shop in Nampa on Karcher Road.

P-People:
Who do we want to know about us?
Jeff (their offroad specialist) wants the customer who is going to be a long term, year long customer. They spend money every month on accessories for their vehicle. The lift kit guy is great, but after spending $4,000 in one shot – he might not come back for a while.

O-Objective:
What do we want to accomplish?
We want to build a data base of new customers – to build a fire, you must first start with kindling.-thank you Greg Stielstra.

S-Strategy:
How will the relationship with the customer change?
We want people to talk about the Cobalt  Off Road Center when they think of truck accessories in the Treasure Valley.

T-Tools:
Which technology tools will get us to the objective?
Since I AM in radio – we will use that medium in prime areas (Bob & Tom on The Eagle) as well as Traffic spots and very targeted day & times on both country stations: Kissin’ 92 & KQFC.  We are going to direct people to the station websites with the keyword COBALT where listeners will sign up to be on Cobalt’s monthly eNewsletter list. Jeff is going to use MailChimp – keeping those that opt in “in the know” for sales, new products & company news.  Increase awareness and stay in front of the customer.

Future:
FaceBook business page presence with objective to interact and create community with the off-road & accessory enthusiasts.
Open House in April to celebrate Off Road Center
Possible affiliation with The Eagle’s broadcast of BSU Football games for 2011/2012

 

Marketing Dollars (not) Well Spent: Boise PD & ISP October 12, 2010

Filed under: Free Ideas,Tip of the Day — jenharris @ 10:54 am

If I was a Marketing Director for the Boise Police Department or the Idaho State Police, I would not spend my budget on warning people when, where & what we are going to pull “you” over for.

Ummm, didn’t we all take the test when we are 15/16 years old…shouldn’t we KNOW not to drink and drive, or speed in a school zone or tailgate/drive crazy?

The PR side of story telling and what happens when people drink & drive etc. is differernt – those are almost scare tactics, you know: Oprah-esque stories that scare us into doing the right thing.

My thinking is that if you don’t warn the public where you are going to pull them over (like in the major construction area,  on the very well posted 55 MPH freeway) you might just make some more money by getting those that are not “in the know” of the rules that we learned at 15.  Wouldn’t that increase the number of tickets and hence the budget for the Police Department where it could be used on training, hiring more officers to catch bad guys and better PR stories?

My first PR/Marketing campaign would be reminding people how to use a 4-way stop sign when there are 4 cars. (BTW: the person that is going straight HAS THE RIGHT AWAY, not the person turning)….and when there are only two cars next to each other: yes, the first car to arrive goes first.

Takeaway & Question to you: Do you think the Boise Police Department is using their marketing dollars in a responsible way where we are getting the most use & information from it?  What would you suggest?

 

Attract People On FaceBook, Don’t Annoy Them February 8, 2010

Filed under: Tip of the Day — jenharris @ 11:16 am

I am sure you have heard: “Don’t Try to Attract People, Go Where The People Are” (aka: get your tail on FaceBook etc)

I complained recently that there are certain individuals out there who are sub-contracted by businesses to RUN their FaceBook & Twitter accounts.  From our similar “circles of influence” I have heard people complain that his one person’s followers are getting pretty annoyed of getting a Fan Request from every new client of theirs.  Kudos to the businesses for trying something new – boooo for letting someone “do it” for you. Would you let this same person represent you at a meeting with the press or your board of directors?  Nuf said.

So the question for the person that doesn’t know and/or understand these social marketing ways is: If I “go” where the people are at, how do I attract them with-out annoying a bunch of people?

Here is what I would do if I were a business owner and wanting to get on FaceBook and Twitter (of course I have done a strategy to decide if these are the right outlets for my customers):

1.  Make sure that my current customer lists are up to date and include all the vitals:

  • Name, Physical Address, Phone Number of Choice, eMail, FaceBook, Twitter Handle

2.  How do I make sure I have ALL THIS before I start on the social sites? ASK.  Have a conversation with your customers in person or via email and tell them you have a plan to be on FB etc in the next month & you want to make sure that you have all info ready to better serve the customers with support,  promotions, contests, stories etc.  (which of course they will have the option to opt-out of being sent info via FB)

3.  Have a plan: strategy (includes Who, Why, What you want to accomplish, Who else is on board (can you use co-op dollars?) What kind of response time will you have, How will you deal with negative comments?)

4.  Now share this plan with your customers via your updated email list.  Let them be part of the process, let them Opt-Out!, Ask them what they want to see from you (and don’t see…because we have all seen and received crap from being a “fan” of someones business that sends you 2 messages a day).

5.  After you have refined your plan (set a timeline for feedback/ideas), set up your accounts.  Have a reason for people to “fan” you (contest, feedback, discount etc)

6.  If you have a personal FaceBook account, don’t invite everyone (this would be the ANNOYING part) but do post a note and a link saying “I now have a fan page for my business where my goal is X, if you would like to become a fan, thank you – if not, I totally respect that!”  You get the idea…treat people the way you want to be treated.  Unless you are an arrogant jerk with a chip on your shoulder thinking that the world owes you something…and everything YOU post anywhere is relevant – ummm, never mind.

Good luck and don’t be afraid to ask questions to those that are doing a good job – learn from others mistakes and successes!

 

Social Media Etiquette February 6, 2010

My husband is always giving me a hard time about how many friend requests on FaceBook that I just let sit.  I have been giving these  “friends” a chance to interact before I let them into my life,  but it just doesn’t happen…so NO MORE!

Twice I have posted on FaceBook that if you are not family, a current or past-life friend or someone that I just met In Real Life – I expect a note from you explaining who you are, why you want to be “friends” and where we might have met if my little brain forgot (coffee doesn’t cure all people!).

If you were to go to a real life networking event and went around slipping your business card into people’s back pocket – would you expect them to call or interact with you? So why is it ok online? It’s NOT! Please reach out to the people you want to befriend – it’s quality over quantity.

A quick note would go something like this:

“Hi Jen! We haven’t met before, but so-and-so said you were super funny and a rockin’ Mom so I thought we could get to know each other better.  Happy Tuesday!”

This goes for LinkedIn as well – it’s just plain common courtesy!

Another tip: write a note BACK to the person who wants to be your friend – again, think “what would I do in real life?”

 

Social Media Snake Oil January 11, 2010

Filed under: Free Ideas,Tip of the Day — jenharris @ 8:41 pm
Tags:

Dear Mr and Mrs business owner,

If someone comes to your business and tells you that they can get you involved in social media and pitches FaceBook and Twitter juuuuuust a little bit too much….
Do this: just say No!

If they tell you that they themselves have a large “following” that can help you…
Do this: just say No!

If they tell you that they can run these accounts for you…
Do this: just say No!

Please don’t be intimidated by these new online tools. They really are not that difficult to understand ONCE you have gone through a STRATEGY that outlines what they can help you with, what the potential ROI is and why you belong there (if at all!!!!!). Don’t be bullied, do your homework and ask around about this persons reputation and ROI with other clients.

And I will say it again, DO NOT outsource this to someone that you would not want to represent YOU in a board meeting with investors and/or potential clients.

Good luck.

 

Top 5 FaceBook Marketing Do’s October 19, 2009

Filed under: social media,Tip of the Day — jenharris @ 2:26 pm

1.  Do think outside of your “well, this is what I would do with traditional promotions…it has to work the same on FaceBook, right?” box.  Don’t be a one hit wonder with the SAME PROMO over & over & over.  Branch out my friend, how ELSE can you interact (meaning more than ONE way) with your current & potential clients?

2.  Do send a thank you (and a coupon or customer of the day award or business spotlight) when you receive a friend request…they friended YOU, not the other way around…don’t you think that should be treated with a bit more special sauce?

3.  Do think.  If you are a daycare, don’t talk to people (as the daycare) about the type of drinks you had and how wasted you were the night before.  Come on…really?

4.  Do Interact, interact, interact.  That’s why it is called “social” networking…not “billboard” networking. (see a funny blog from Lisa D Jenkins here that states the ugly truth).

5.  Do have a reader that has a file of all your “friends” blogs.  What a great way to promote your clients and introduce them to others?

6-10.  What do you do on FaceBook as a business that helps promote others or your own business that is not icky and intrusive?

xoxo
-jen