Small business continue to market

SmartCompany recently reported that according to Online Research Unit Australian SMEs say they will continue or increase current levels of spending on marketing, despite any indication of an industry slowdown.

A survey completed by the group says 52% of businesses will keep marketing and advertising budgets the same in 2009, with 37% saying they will increase their budgets. Those intending to increase their budgets number 42% for businesses less than two years old, with 33% of companies older than 10 years saying they will increase their budgets.

Any increase will likely be directed towards advertising at 66%, with online marketing following at 44%, direct marketing at 41% and public relations at 23% for all intended expenditure. Only 11% say they will cut marketing budgets.

ORU chairman Brian Fine says the results show that Australian SMEs will remain immune from any effects of the downturn.

“It seems that small business recognises the need for pro-active communication to grow, or at least maintain current market share. Advertising for these smaller companies will have broader meaning than just above the line brand building, and is likely to include retail and targeted communication in print media.”

Guidelines for a great media release

The main rule is that all media releases have to be newsworthy. If a release isn’t newsworthy, then it simply won’t get picked up by the journalist. What makes items newsworthy differs greatly from one publication to the next or even from one section of the paper to the next. News is something new, up-to-the minute and of interest to the readers.

Following are some guidelines for good media releases:
•    The lead paragraph is the most important and should provide a ‘hook’ for the journalist. It should contain who, what, when, where, why, and how.
•    Write in the inverted pyramid style. After the lead paragraph, each remaining paragraph should be less important that the one preceding it. That way the editor can trim your release from the bottom.
•    Write in short sentences, short paragraphs and keep the information simple and to the point. Try to keep the release to one page.
•    If you read an article in the paper, you will see they always include quotes. So you should give them the quotes to use. You can quote yourself in first person such as “I am really excited about my new body of work”
•    A good press release has no typographical or grammatical errors.
•    Head the release with “Media Release” and date it clearly.
•    Use a catchy headline. Editors receive hundreds of releases a day and a good headline catches their eye and ensures they realise the contents quickly.
•    At the end of the release add “For further information, contact. . . ” The contact details should include name, telephone number including an after hours number. The editor must have somebody to call to answer questions or to be interviewed.
•    If you are inviting a journalist to attend an exhibition clearly state the time and date and RSVP information.
•    Good images add value to a media release. Add images to the body of the media release, but ensure they are low resolution (50K or less).

How to get the most from Linkedin

The New York Times have published an interesting article on How to Use Social Networking Sites for Marketing and PR.  It covers LinkedIn saying that it is primarily being used for career development and the quality of the network you create lies in the quality of the contacts, not the quantity.

Krista Canfield, LinkedIn’s public relations manager, suggests you treat your contacts like you treat your Rolodex. “You wouldn’t hand over your Rolodex to everyone you meet at a conference,” she says, noting once you make a contact, that person has access to your network.

Once you’ve established a list, be judicious how you use it. You can send notes to your contacts but if you send too many, those notes are not as likely to get read or you might even be dropped as a contact. Use the list for small announcements: events, job openings, or vendor recommendations.

A secondary level for outreach is LinkedIn’s Groups. Currently there are more than 150,000 groups, including business forums, alumni groups, fan clubs, and conferences. If you run an interior design firm, or sell to interior design firms, you can choose from nearly 90 groups catering to that field. Some are credential-based; some are based on geography. The group “owner” approves your membership to ensure validity.

Another way to build your credibility on LinkedIn is by participating in its Answers forum. For instance if you are a travel agent you might want to visit the Business Travel section to see if you can give any advice. Canfield suggests using the soft sell. “Approach the discussion as you would at a business lunch,” she says. “You know people are there to further their businesses and make good contacts, but you need get to know them a bit before promoting your services.” Another tip: check out their public profile before engaging them in a conversation. Chances are you might have a connection, whether it’s a college, a personal interest, or a shared skill such as speaking the same foreign language.

For the long term, the value for marketing on social networking sites may be simply the ability to reach niche groups via advertising. Most of these sites have targeted text advertising with fees in reach of small businesses. LinkedIn’s fees can be as low as $5 for 1,000 impressions and allow users to set a budget. Advertisers can choose two of seven criteria to target, including geography, industry, seniority, and company size.