How to Market Your Business for Funding

First you need a plan…

Obtaining funding for a business or idea can be difficult at best. There have been many great ideas lost down the drain because of the simple lack of money! It’s amazing how many mediocre ideas do make it and how many good ideas do not. Here are a few tips for how to market your business idea, widget, plan or whatever you decide to call it, from a marketing and sales perspective.

Your plan needs to be bullet proof. Go to a local funding event and do some research online. Try to put together a comprehensive list of every reason why your idea DOES NOT work and then figure out the best ways to overcome those hurdles.

Shop the idea around to angels first – that means friends, family and friends of family. This is called the angel funding round.

Second, make sure you stick to the budget as closely as possible. Project out for three months at a time to help you foresee any upcoming issues which may affect your bottom line.

Keep redeveloping the plan as the business begins to mature. There are two good reasons to do this. It will help you stay focused on the plan so you don’t get lost in the details and it will help keep the plan fresh should you need additional funding.

Make the business plan as sexy and slick as possible. This might sound shallow but believe me, when it comes to getting funding, anything goes and the slick plans get looked at first. It is a popularity contest at best.

You need a perfect look and feel. Don’t go light on the logo or marketing collateral because you believe your idea has enough merit to carry its own weight. Investors don’t see that. They want cool, smart, good looking materials so they can brag about their investments. The logo is just as important as the name. The brochure and website are going to be what they judge you by when you are not in the room.

Show them you know how to market and sell the product. Assuming you are ready to go to market, put together a killer sales and marketing plan that shows timelines, metrics and most importantly, ROI (Return on Investment). This is as important as the entire plan itself. If you even THINK you might not know how to write the best marketing plan ever, don’t hesitate. Hire an advertising or marketing agency. It is the best investment you can make, if I do say so myself.

How Websites can help Increase your Business’s Bottom Line

It would be hard to imagine that most people are not aware of some of the obvious reasons why websites can be a proactive business tactic; however, as technology keeps advancing, websites control the opportunity to substantially increase your business revenue.

It wasn’t that long ago that everyone had a library card, and we were all familiar with how to use the index card catalog there.  Fortunately, those days have passed and now we have Google.  In conjunction with this, we have personal and business websites.  This new cyber world that we live in allows us to access libraries full of information in seconds, all with the simple move of our fingertips. For many, this fact is still a phenomenon, but if you can morph with the times, you will find that its advantages can generate a much more complex level of satisfaction for its users.

Having a website not only becomes an excellent way to save time and money, but the opportunity of reach and flexibility sets it apart from any other form of tangible awareness available.

Benefits of Reach & Flexibility Afforded by a Website

It is available to the public 24 hours/day, 7 days/week.
Reach all forms of the market whether it is broad or niche, with a custom website design.
Expands your market indefinitely by breaking through geographic barriers and granting accessibility to the entire world; this goes hand in hand with doing international business in a constructive manner, as it is often difficult when collaborating in different time zones.
Offers the convenience of in-chair access which is becoming more of a serious advantage on a daily basis, with the cost of gas rising, plus it allows the opportunity of research to be done with privacy and comfort.
Without speaking- it communicates. Your site can portray your credibility as a company, proving your trustworthiness and confidence to your potential customers.
Let the press find you- with an impressive custom website design, you will be seen by not only potential clients, but by forms of media that may oftentimes write an article about your company simply based on the appearance you uphold through your site.

Website enhances your customer satisfaction

Create a feedback section on your site. In the end, this helps you increase your gross revenue due to returning customers.
Host Map Quest to prevent your customers from getting frustrated, not to mention, this will keep your business’s contact information up to date.
Offer a feedback section. This opens up a two way communicative channel of marketing in real time.
Make it visually stimulating by uploading photos, videos and tutorials for your viewers to spend time looking at, while learning about your company.

Website lowers your Expenses

Reduces printing costs while saving a tree. (If you are into that.)
Websites are a medium for selling advertising space to other businesses.
Running analytics are an inexpensive market research tool that can be used to capture data about the traffic visiting your site, in real time.
Publishing articles online that reach thousands more than printed articles.
Target your niche market much easier, faster, and cheaper. In a down economy, this proves to be more successful than broad marketing.

If time is money, then keep saving money.

Give yourself the freedom to say: “Check my site out for more info!” Not only does this build your credibility and reputation, but it saves you time.
Get your pitch down to a science, put it on your site, and never have to say it again. This is also known as ’sales optimization,’ although some care more about saving a minute than saving a buck.
Create an FAQ section on page for those who tend to ask the same questions. If you have a child, you have spent enough time in your life already redundantly answering questions, take a break!

Lastly, the benefits of having a custom website designed are: the ease of navigation- since templates don’t do the job anymore, and we are entering an era of ‘flash.’ Also, you will be offered installs like shopping carts, maps, blogs and forums, PayPal, Google searches, and pay-per-clicks. The plain and simple aspect of all this matter is that, within the next few years, the entire world and market will be online, and the longer you wait to dive in, the farther behind you may be leaving yourself and the potential success of your company.

What is branding and how does it affect your business?

The difference between good branding and bad branding often will determine the success of your company. According to the American Marketing Association (AMA), branding is a “name, term, sign, symbol or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers, and to differentiate them from those of other sellers.” So, you can understand why it is a wise decision for a business to spend quality time and effort on branding.

A successful brand will compel your target market not only to choose you over the competition, but more importantly, allows them to see your brand as the only one that provides a solution to their problem. In order to achieve maximum optimization, a successful brand will do the following: deliver the message clearly, confirm your credibility, connect to your target prospects emotionally, motivate the buyer, and solidify a user’s loyalty. After you have created a custom logo design for your brand, a fun way to popularize your product is by putting your logo on promotional products, such as pens, t-shirts, hats, or even coconuts – as some advertising agencies like 760 Media do to add a bit of their character when introducing themselves to clients.

As your brand is the source of promise to the consumer, it is imperative that you understand the needs and wants of your customers and prospects. In order to achieve this, you must integrate your brand strategies through your company at every point of public contact. Understand that your brand will reside in the minds and possibly hearts of customers, clients and prospects. You have the capability to control what they perceive and believe as you manage their experience with the brand. This can be a masterpiece or a disaster.   

With the market becoming more competitive each day, a strong brand becomes is invaluable. Know that the time invested in researching, defining and building your brand will pay off in the end, as this is a foundational piece in your marketing communication.

The Importance of having Effective Marketing Materials

If you are okay with the ‘Because I told you so,’ answer, then read no further. But if you are interested in understanding the rational behind why experts advise so earnestly to spend up to thousands of dollars on “branding” your business before you even make a sale to pay for it all…then keep reading.

With money, comes power- some like to think, but when referring to a company that is investing the big bucks in simply stocking its material wardrobe, power will often be a promising result. For this reason, it is advised that you invest in your materials as much as you would like to be invested in. Believe that perception is reality; if you introduce your business as small beans with homemade business cards and Microsoft Clip Art on your brochures, then you will be perceived as nothing more and will be compensated for you work accordingly.

When building a brand, the first task to begin is building a custom logo design. This should be an area where a sufficient amount of time is spent, as the first and last thing that is seen is the company’s logo. Invest in your company’s look and identity because people tend to remember the things they see more than they do the things they hear or read. For this reason, don’t take graphics, printed materials, and especially logos lightly as they convey your reputation.

Most clients will look for companies that are well-defined, and for those who look and feel match their criteria for making a purchasing decision. Though every clients interest is different from the next, they will always be looking for professionalism. To achieve this, you need to present a well-rounded business package to insure your adeptness. The better you look, the better they can expect you to make them look.

Agency Dating

Business Dating for Dummies 101:
How to select the right company to do your creative work.

Finding your creative firm is similar to finding “that special someone.” There is more than just outer appearance involved in the decision making process, however, it is typically the first impression that draws you to them. It is more important to find out how knowledgeable and experienced your contacts are. Make sure to find companies who specialize in branding, not just offer it as one of the “extra” things they do. Here is where the homework comes in; research the firms who created the brands you most admire and those who have similar qualities and interests to those of your business. If you are a pharmaceutical company, using a firm who is notorious for branding alcoholic beverages, fast food, or retail would not be helpful. Finding companies who are experienced within a multi-lateral range of brands is a good place to start. In addition, make sure they are reputable for their originality and creative style. If your company is very conservative or traditional, this doesn’t apply to you; find more traditional waters to call home.

Once you’ve found your niche, make some phone calls and start testing their business etiquette. Are they timely, motivated, excited to help, preoccupied…? When you receive your inquiry callback, is it from a sales rep, or from a partner…? This is the very instinctual part of the starting-up-the-relationship process. Meet with a few “potentials,” listen to your heart and trust the chemistry. The laws of physics will not fail you. If its not the right match, keep looking.

Be aware of your own etiquette as a potential client. Make sure to ask each company about their process; however, make sure you are targeting your questions to the work you are inquiring about. For example, if you are having a custom logo designed, you want to ask about number of revisions, cost per revision, time frames, and to see a portfolio of some of the recent work they have produced.

When your homework and meetings are over and done, put out your sensors. Monitor the facts the agency gave you against their actual implementing of them. Did they respond in the amount of time quoted, or are they not calling you back until a week later..? If the habits are bad to begin with, you can bet that they will only get worse. See how similar this is to “dating” in the real world? Just follow your intuition.

The New Word of the Day is ‘Mediaconomy’ which is total bullsh*t

OK – I am talking with one of my clients the other day who is telling me that his business is down because of the economy and he thinks he should stop marketing his business to save money. All I could say was, HUH? Then, I mentioned another client who had the same problem and was increasing his marketing budget to get through it. Well, I got thinkin’ and suddenly the thought occured to me — Who REALLY knows what the economy is doing? We are ALL just listening to the media and do we REALLY trust those people? I mean, we all know that they love to find dirt and drama and exploit it and for what? Some lousy ratings during Sweeps Week? So, I ask you, do YOU believe in this “Mediaconomy?” – Looking for feedback –   

How to Hit a Homerun and Act Like it’s No Big Deal :-)

So, you’re humming along trying to scrape up new business leads for your clients with only the best intentions in mind when all of a sudden, wham! You hit a homerun and bring in about 10 times (10x) more business than you promised. Now, what do you do?

Firstly, don’t panic. Many businesses are actually afraid of too much business and lose sight that this is an OPPORTUNITY.

Second, re-group. Analyze the data and test it to see what you really have. If it is a direct response campaign, then you already have the info you need in the palm of yoru hands. If the client’s website or cusotmer service department are being inundated, put together a simple, quick response, greeting all the new traffic with a positive spin.

Third, take advantage of your new opporunity. Strategize new ways to market to your new client-customers and implement tactics to effectively communicate with them as your new target market.

Lastly, have fun and brag. Don’t let this anomaly pass you by. Build a case study for your client and your market, These do not happen all the time but they do occur and you should know how to handle it when you hit a home run!   

I am (10) this many years old — 760 Media Celebrates a Major Milestone!

“Whew, that was easy!” was my recent comment back to someone who asked me how I felt about my agency passing the 10 year mark. Looking back, it hasn’t been neccessarily easy really but, it has definitely been a lot of fun. I’ve had the fortune of working and promoting some of the biggest brands in the world in just about every type of media available, covering every major international market on the planet. I am more excited about what we are doing now, integrating new and traditional media campaigns with measured results, than I was when I first started this agency and made the promise that became our mantra at 760 Media, starting with, “Award winning advertising and marketing at reasonable rates.” to “The Ad agency with BIG IDEAS that WORK!” — It has all come true for me and I am proud to be a part of this wonderful company today.    

I still come to work excited every day. Ready for the next creative project, media plan or new business opportunity. I geuss you could say that I am addicted to this business. I never mind working late or on the weekends, I love chasing and landing new client accounts and I look forward to the symbolic pat on the back just as much as a check in the hand. Of course getting paid is always nice too. Don’t get me wrong…

Now that 760 Media is 10 years old, we will take all of our marketing, advertising, public relations and guerrilla marketing knowledge and build a set of streamlined tools and systems which will enable our clients to see exaclty how we maximize their budgets for optimal results and returns on their investment with 760 Media. Look out world, here we go again! 

Carlsbad Business Journal articles by Jeffrey Donnelley

Jul 01, 2007
Develop a winning marketing and advertising plan

Sep 01, 2007
Back to Basics: Marketing 101

Oct 01, 2007
Create an effective and meaningful marketing campaign

Nov 01, 2007
The art of interviewing advertising, marketing agency candidates

‘Tis the Season to Market Your Business for 2008!

The holidays are here. Depending on what type of business you are in, that statement made you feel extremely happy and busy, or exhausted and desperate.