Just picked up this story in the news today, which backs up last weeks blog post…

http://www.easier.com/90153-britains-coupon-clipping-heroes.html

Plenty of marketing opportunities in here…

Did you know… females in the USA are twice as likely to be ‘entrepreneurially active’ than females here in the UK?  The rates are the same for men in both countries – so we need to encourage and support more women to set up businesses.

Businesses run by women in Britain generate £130 bn for our economy according to a recent article in Director magazine.  They also provide a more immediate contribution to the economy as one in five come into self-employment from joblessness (compared to 1 in 15 men).

Don’t get me wrong – I’m not a raving feminist.  I’d love more people of both sexes to start and build successful companies, but us girls seem less inclined to – So come on girls… dive in.  The water’s warm.

Since this is a marketing blog, the marketing opportunities in the story include the following:

1. If you’re targeting small business owners, the majority of your audience will be men, so you might want to segment your market and tailor your messages accordingly.
2. If you’re specifically targeting female business owners, your target audience will be smaller than male business owners and, in the start-up phase, they may require support and mentoring services to complement your offering.
3. According to findings from Euro RSCG, women cite work-life balance as their top priority when choosing a job, so you need to be mindful of this when communicating to this audience.
4. The Government remain focused on encouraging more women to set up in business; providing additional opportunities and funding for this audience.

Email marketing is very simple, easy and cheap… but, like every marketing method, it has its downsides. And one is the effect of spam filters…

You can create fantastic email marketing messages, offers and incentives, but they very often head straight into the Junk email box and miss your target audience by a mile.

A new tool we’ve heard about could reduce that however, and ensure your messages reach more of your audience:

Lyris ContentChecker™ for Email tells you what your spam score is for each email you write.  The lower the score, the more chance your email will be delivered.  This free, online tool also gives you recommendations for adjusting your message to improve the chances of it being delivered.

One word of warning… if you’re using email marketing, be sure to personalise your messages and ensure they are targeted correctly.  It’s worth getting some professional advice before upsetting your database.  You’ll no doubt have received many impersonal Christmas and New Year messages; some from people you maybe don’t know.  Think about how they made you feel – did they make you want to do business with the person, or did you just think you were a number on a database and the message you received went to hundreds of other people too?  Please think before you press ‘Send’.

www.lyris.com/lunarlanding/default.aspx?source=resources-cckr

I heard recently that only 7% of businesses offered for sale actually attract a buyer.  And it can take years to sell-up, especially if you want to maximise the value you generate for your company.

So what can you do to give yourself the best chance of success?

1. The main reason businesses don’t sell is that they have no intrinsic value – i.e. they revolve around the business owner and without you, the business doesn’t exist.  If you can’t take a holiday without the money stopping flowing, you probably don’t have a saleable asset – yet.
2. Most buyers look at the finances of a business first – so let your accountant know you’re planning to sell.  They will be able to prepare your accounts in the best way to show the profitability of the business.  You need to show at least 3-5 years of accounts, so this part needs planning.
3. Consider your target audience…who might buy your business – and what would they be looking for?  How could you make the business more attractive to them, and how can you target them effectively with your sales literature?
4. Have you considered an internal sale?  Many companies are bought by their staff in management buy-outs – is that an option you have explored?
5. Get professional help – there are experts in selling businesses across the UK.  Select one who has experience in your industry and ask for some assistance.

Good Luck…and Happy Retirement!

Love it or loathe it, the World Cup creates a fever-pitch atmosphere around the world – especially in the UK.  You just have to look at the number of England flags on cars and houses to witness the size of it’s target audience.

And with it, the World Cup brings some great marketing opportunities.  A couple of the best we’ve seen so far are:

• A cinema in Ulverston, Cumbria is showing the World Cup – so you can enjoy the matches with about 500 people.  You can also take your kids along and help create a family atmosphere.  This is an example of a great use of an existing venue to bring people in at times the building may not otherwise be used – and it sounds like amazing fun!
• Our printer sent us a mailshot that included a World Cup wall planner, which is now on our wall.  It had an England flag on the back and both sides incorporated their branding – so we’ll be staring at their company name for the next month.  Outstanding!

Please write to us with other ideas you’ve seen, or come up with.  We can then maybe judge the best ones…

It wasn’t the most exciting budget ever, but we thought we should look at the marketing implications of it and try to read between the lines for your business…

The main points were:

• A cut in business rates, which means smaller businesses may have a little bit more cash available to invest.  This could provide opportunities for businesses who could help them reinvest that cash in future business growth.
• £94 billion in business loans from RBS and Lloyds; nearly half of which will be for smaller firms.  It’s hoped this might finally give easier access to funding once again, particularly for small businesses.  If your target customers have expansion plans, and you can assist in reinvestment for growth in order that they can pay back their loans, this measure could increase you target audience.
• £4bn in business support through ‘Finance for Growth’, which will streamline and improve government help for small businesses.  It wouldn’t surprise me if this is linked with public sector cuts, with some levels of ‘middle management’ stripped out.  This should hopefully make it easier for companies to know how and where to access advice and funding.
• An extra 15% of central government contracts would be awarded to SMEs (small to medium-sized enterprises).  That could mean up to £15bn in new business across the public sector.  If your business is interested in this sector, it would be worth ensuring you’re linked into services such as tendering notifications and taking advantage of tendering training available.

It seems that Labour, like the Conservatives, know that the key to economic growth lies in small businesses – the 80% of companies who employ a handful of people, but keep the economy ticking over.  The parties all seem keen to offer support but, when that support is combined with the massive public sector cuts predicted, it’s likely to provide both opportunities and threats.

Our suggestion would be to get hold of some good advice to make sure you take advantage of the opportunities available in your industry.  They will be there…

As the Post Office removes it’s limit on the number of unsolicited pieces of mail it will deliver each week, we may be on the brink of a significant change in direct marketing.  But, my advice would be to approach this marketing method with care – there wasn’t a single interviewee on the BBC this morning who relished the thought of more ‘junk mail’ arriving through their letterbox.

Unsolicited or unaddressed mail generates an estimated £130 billion in sales each year, according to the Direct Marketing Association.  They claim that 80% of mail is opened and looked at, but the number of people who act on that mail is very different.  The marketing industry works off approximately a 1% response rate for addressed direct mail – which means 99% goes to waste and, quite rightly, creates issues in environmental circles.

So how can you use this method more effectively?

• Target Your Audience – we talked about targeting yesterday and it’s crucial to know who you’re talking to and what they value.  Your response rates will increase the more you target.
• Buy some great creative – it’s worth spending money on professional graphic design and printing, so your mailing stands out from the crowd.
• Make an offer – give the mailing some value, so people might hang on to it.
• Use recycled stock, or paper from sustainable sources – don’t make a bad situation worse.
• Personalise your mailings wherever possible – you get a better response from addressed mail.

You also need to remember that your audience can opt-out of receiving mailings, so if you are sending direct marketing, you must check your list against the Mailing Preference lists to ensure you are working within the guidelines of the Data Protection Act.

Nick Varney, Chief Executive of Merlin Entertainments (the group which owns Legoland, Alton Towers, Madame Tussauds and others) was interviewed on the BBC yesterday morning.  He was discussing the company’s figures for this year; having just posted their ninth year of double-digit growth.

Mr Varney put much of that growth down to the way they have diversified their attractions and targeted in on key markets for each one.  This is one of the critical elements of strategic marketing – and I was thrilled to hear him highlight the importance of marketing in his business; the second biggest visitor attraction operator in the world.

Whilst your company may be smaller, focusing on key target audiences is no less important, so what tips can you take away from Merlin’s example?

1. Know who you’re talking to – you need to understand who your business wants to communicate with.  If you target ‘anyone’, you’ll get ‘no-one’
2. Really understand your audience – the more you know about them, the better.  If you can focus in on your target industry, or target customer and understand their needs and problems, you will be better able to promote your products and services
3. Speak their language – When you know your customers, you appreciate their needs and can then talk to them in a language they understand and promote the benefits they value
4. Diversify your products – if different products suit different audiences, target different people with different products and messages.  One message definitely doesn’t suit all.

Well done Merlin – and thank you for highlighting the importance of marketing.

Almost one in three public sector employers plan to shed jobs this quarter, according to a report by the Chartered Institute of Personnel and Development (CIPD).

The industries most severely hit are expected to be public sector, defence and public administration, but it isn’t all bad news…

As is often the case, when public sector dips the private sector picks up, and the report also found employers in this sector expect to see staff numbers grow for the first time since the start of the recession.

The message behind this story is more about your marketing and your audience – who are your targets, and do you need to alter your approach (if you can) in 2010?

There is no doubt I fall directly into the target audience of Renault’s new TV commercial.  I love driving but, as an animal lover, I am accutely aware of climate change and our impact on the environment around us.

Renault has cleverly tapped into this modern dilemma and created what I consider to be one of the best adverts I have seen in a very long time.

With my marketing hat on, what do I think they’ve done right (that others can replicate)?

• They understand their target audience perfectly
• The narrative correctly describes people’s emotions and the dilemma they have between enjoying themselves and doing the right thing
• The advert uses the same language as their audience
• They don’t preach, dictate or insult anyone
• They don’t make light of the environmental situation
• They share what they as a company are doing to combat climate change
• And they offer a solution

To be fair, I’ve driven Renault’s and never been terribly impressed (I am admittedly a bit of a petrol head), but I can’t wait to test-drive their new range of electric cars.

Great job Renault (and your advertising agency) – well done.  I hope many more advertisers follow your lead and wake up to the responsibility many modern consumers feel.