Catch up with me at 10:15a on November 12, 2009 for a panel on Shoestring Marketing, where we’ll be discussing ideas on how to market effectively on a small budget, marketing processes and approaches for startups, and upcoming online trends.

My fellow panelists are:

Chris Johnson, CEO for Terralever (Moderator)
Eva Voorhees, Owner, Tiny Advertising,
Ed Tankersley, Owner, Eight Trails

We hope to see you there.

There must have been at least 25-30 ticket scalpers.  Imagine the competition. Before we left, I ran upstairs to grab my jacket and as I waited for the elevator a man rushed passed me into the business center located just a few steps away from the elevators and the main entrance to the hotel.  Curious, I followed the man into the business center and sat down to fake a little “online lookup.”

I noticed this man had pulled up Craigslist and started to create an ad.  Sitting next to him, a pair of Seattle Mariners baseball tickets.

The point of this story? In business, often times we do the same things our competitors are doing, we use the same resources, at the same time, in the same place.  One by one we all line up next to each other for potential customers to determine what makes each one of us different or who has the kindest smile (best logo) and looks the friendliest (cheeky marketing speak).

It’s important to recognize that we can still use the same resources and advertise using the same channels, after all that is where are customers are.  But it doesn’t mean we can’t look at how to market ourselves and our message differently than the rest.

In this case, it seems obvious that you could sell the tickets on Craigslist to folks who are planning to attend the game but can’t find tickets (days, or even weeks before the game).  It also seems obvious that you would stand right in front of the stadium because customers know they will be able to purchase tickets from…a ticket scalper.  But, this man changed the game a bit – he used the same resource at a different time and utilized the resources around him.  Whether he sold the tickets or not, he was still utilizing the resources that were available to him – and at no cost to him.  Craigslist = Free.  Hotel Business Center = Free.

Key takeaways:

1. There are plenty of free Social Media tools out there like Facebook, Twitter, Flickr, and YouTube.  If every one of your competitors has access to the same tools and resources you do, how are you differentiating yourself? How can you utilize those tools differently – be it seasonal, deviating from a normal process, or other? Think strategy.

2. If you have created a Facebook page or Twitter account for your business are you just running with the herd? Have you just jumped on the bandwagon because every one else has? How can you use these resources and other resources outside of these to actually improve your bottom line?  Avoid the “me too” scenario or seek help from an outside consultant to introduce ideas on how to use these tools to your advantage.

3. Don’t forget the resources/tools that have worked in the past or the ones you haven’t really fine tuned that are working.  Don’t throw the baby out with the bath water.

4.  Don’t be so quick to jump on the next shiny object that sparkles.  Make sure you have a clear understanding and strategy in place before investing the time and labor costs associated with the upkeep, management, and maintenance.

While some small part of me has a bit of angst that a down economy (or recession) is what is causing more companies to move marketing dollars online, I also find this revelation among companies as a shining star in my future and in theirs. As a passionate Internet Marketer I have always thoroughly believed in the power of online marketing – if the strategy, management, and execution are all done well.

We have been fortunate to add new business and continue to grow our small yet powerful Internet Marketing company. In Q4 and into the first month of 2009 we have noticed several significant trends in the ways companies are doing business and shifting their marketing strategies which has made us successful in garnering new business.

Over the past six months we have seen the following:

• Companies are scrutinizing their budgets and their service providers. No surprise on the budget part, but the scrutinizing of service providers is. Companies are realizing that their service providers, with regard to online marketing, are saying they do it all but are falling short of providing results let alone showing any type of progress. They are realizing that online cannot be treated as traditional marketing – there are more mediums and channels to market online and each must be handled differently so it is important to have a service provider that understands the strengths and weaknesses of these disciplines.
• Many medium to large sized businesses are looking to smaller firms who specialize in online marketing, such as PPC strategy and management, SEO, and online media planning even email marketing strategies to focus on relationship marketing. Often times you’ll receive more intimate customer service and find that smaller specialty agencies provide better value and have a deeper understanding of your business resulting in a partnership and extension of your company versus “you are the client, we are the agency” mentality.
• Companies are realizing that Internet is playing a more significant role in their business and are taking more time to educate themselves on these tactics, whereas before companies would trust non-specialty agencies to run their online campaigns with no regard for measurement.
• Companies are making changes to their messaging that appeals to consumers needs today,, in a down economy versus delivering the same messaging and throwing more advertising dollars towards it. The right Internet Marketing firm can help uncover new trends with regard to keywords, visitor trends in searches, and behavior that will help guide this new messaging.

If you’re looking to get started or make a shift in online marketing service providers my first word of advice would be to outline your goals and objectives, know your budget, then understand what type of service provider you are looking for. Pick up the phone and contact a few local Phoenix internet marketing companies and start an initial conversation about your challenges, your objectives, and what you are looking to achieve.

Here’s the skinny:

• 87% of home buyers used the internet to search for a home purchased through a real estate agent,
• 72% of non-internet users were more likely to purchase in a private transaction directly from a builder or from an owner they already knew.

What information source did home buyers use:

• 87% Internet
• 85% Real-estate agents
• 62% Yard signs
• 48% Open houses
• 47% Print or newspaper ads
• Fewer buyers relied on home books or magazines, home builders, television, billboards and
  relocation companies.

When asked where home buyers first learned about the home they purchased:

• 34% said a real-estate agent;
• 32% cited the internet;
• 15% said yard signs;
• 7% said from a friend, neighbor or relative;
• 7% said home builders;
• 3% said from a print or newspaper ad;
• 2% learned directly from the seller;
• 1% from a home book or magazine.

Bottom line is that while the real estate industry has remained pretty traditional in method – using an agent, driving around looking at neighborhoods and finding open houses – online is and has been playing a significant role as an information resource to home buyers and you must be there to take advantage of it.  No online marketing company is going to tell you they will sell homes for you, and if they do, you shouldn’t believe them.  Hiring professionals to put together an online strategy that can be incorporated into your marketing plan will be the best bet.  The key is visibility, online presence, and lead generation.  Home buyers want to find the perfect home, and you might just have it, but you’ve got to be online so they can find you, thus providing a forum for them to reach out to you and visa versa.

Get the most up to date Real Estate stats regarding:
First Time Home-Buyers, Current Down Payments, Agent usage by Buyers and Sellers, Foreclosure Purchases, Features and Incentives,  and Additional Demographic Information by reading the full article at MarketingCharts.

About the study:
The 2008 National Association of Realtors Profile of Home Buyers and Sellers is the latest in a series of large national NAR surveys evaluating demographics, marketing, preferences and experiences of home buyers and sellers. NAR mailed an eight-page questionnaire in August 2008 to a national sample of 133,000 home buyers and sellers who purchased their homes between July 2007 and June 2008, according to county records. There were 10,053 usable responses and the adjusted response rate was 7.9%. All formation is characteristic of the 12-month period ending in June 2008 with the exception of income data, which are for 2007. Because of rounding and omissions for space, percentage distributions for some findings may not
add up to 100 percent.

Free stuff on Election Day:

1. Starbucks will give you a free 12-ounce coffee. Legally, abiding by election laws, Starbucks cannot offer free coffee to those who voted so they are giving coffee to anyone who asks for it.   Tara Darrow of Starbucks says, “To ensure we are in compliance with election law, we are extending our offer to all customers who request a tall brewed coffee. We’re pleased to honor our commitment to communities on this important Election Day. We hope there is a record turnout on Tuesday and look forward to celebrating with our customers over a great cup of coffee.”
2. Ben & Jerry’s free scoop of ice cream.  Between 5 p.m. and 8 p.m. in each time zone, ice cream shops  will hand out single-scoop ice cream cones. Get their early, lines will be longer than the voting lines.
3. Krispy Kreme, 85 of its 231 locations in the U.S. will hand out star-shaped, red-white-and-blue sprinkled doughnuts, of course while supplies last. The chain will give out about 200,000 doughnuts.
4. Chick-fil-A, 1,400 stores will hand out chicken sandwiches to adults who show proof that they voted, not sure this abides by election laws so I’m assuming it is also while supplies last.
5. Hipmamasplace.com, stay at home Moms can sign up and get free or discounted baby sitting services on Election Day. Read this article for details.

Cool stuff on Election Day:
1. A new comparative search tool allows you to compare and analyze anything on the Internet.  Appropriately, check out http://www.perspctv.com/ an election comparison between Obama and McCain, it consolidates data across various news, blogs, and social sites.

2. Google Maps – Find my voting location.  Google created an app that plugs write into their maps tool allowing visitors to enter their address and then find out where their designated voting location is. Pretty cool.

They listen less to the radio and spends far less time in front of televisions (18.6 hours vs. 23.7 hours in ’03).  Affluent consumers tend to be more educated and allocate more discretionary spend to magazines than anyone else.

Other interesting facts:

• Across the population, television topped the Internet as a favored news source
• Daily online news use has increased by nearly a third since 2006
• Common users tend to be both young and affluent.
• Gen Y (born 1982-1994) maintain high levels of magazine consumption
• Favorite print publications among survey respondents included People, National Geographic, Sports Illustrated, Time, Newsweek and Southern Living.
• From 1997 to 2007, the number of magazines targeting affluent consumers grew from 90 to 456, a fivefold increase, Mediapost reported last year.

When you think about it, these results aren’t really that surprising. Folks have little time these days juggling family, career, schedules, etc.  They need things they can count on and are easily accessible, and when they’ve got a few moments they want to sit down and read something that appeals to their lifestyle preferences and needs.

Magazines provide those small indulgences and have highly targeted content that appeals to their readers.  The audience (much like email) has subscribed to receive “said” content.  I myself have over 4 magazine subscriptions and they are non-work related – they are lifestyle and interest related.  Not to mention, they are chalk full of advertising that is related to ME! Me, me, me.  I don’t have to rifle through a newspaper to locate an article of interest because I’ve got an entire magazine and when I want to find out the news, I can quickly access it online.

You can read the full article on the Affluent Survey Results at MarketingVOX.