To most people, any mention of Network Marketing or MLM (Multi-Level-Marketing) sends them running for cover. It's like garlic to a vampire; they don't want it near them -no how, no way. But, maybe in today's economy, it's time to add small doses of garlic to our financial diet.
I've tried them. Amway, Excel and a few others that I can't even remember. But that was years ago. I tapped into my friends, neighbors, co-workers and relatives; brow beating them until they either ex-communicated me or ultimately gave in to, as they called it, another "pyramid scheme". I swore off ever getting involved in another MLM opportunity...until now.
PLEASE READ THE REST OF THIS POSTING BEFORE YOU TELL ME I'M CRAZY!
After all, only the people that get in early make all of the money. The people at the bottom are left with closets-full of "product" such as soap, make-up, vitamins or long distance calling cards. Am I right? I've read the propaganda. I've been to the conventions. I've seen the countless pictures of a select few with the mongo huge houses, luxury cars, exotic vacations and unfathomable residual checks. They hypnotize and mesmerize us into staking our claim to that elusive pot of gold at the end of the rainbow. It's another cult. It's big rallies with everyone but us up there on stage receiving those big payouts. I know I felt inadequate, got discouraged and eventually gave up.
But, that was all before the Internet really took hold and gave the MLM industry a powerful marketing tool.
MLM has changed in a BIG WAY!
TRADITIONAL BUSINESS MODEL?
Let's step back for a moment and look at the traditional business. As an entrepreneur, I have what I think is a great idea for a business. I invest thousands of dollars in product development, product testing, office space, utilities, employees, taxes, insurance, marketing, advertising and more. Then, I work my ass off prospecting and convincing others that they need my product or service. I pay my sales people (if I can afford them), to sell. Most importantly, I am gambling that my satisfied clients, without any incentive to do so, will tell others about my business and I will be able to convert them into clients. Those new clients will tell two people, who will tell two people, who will...you get the point. I'm hoping that word spreads about my business so far and wide that I...
...Wait a cotton pickin' minute! Doesn't that smell of multi-level marketing? People...tell people who... tell more people. Hmmm.
But something doesn't make sense. I'm spending my life savings or paying to use a bank's money, hoping to someday turn a profit without giving my clients an incentive, beyond maybe an occasional gift card, to help my business grow ? It's no wonder that about 80 percent of all new businesses fail within the first two years - and their owners find themselves in financial ruin.
The MLM Model
So, let's take another look at the MLM (also called Referral Marketing) way of doing business. I can buy in to a company that's already spent millions of dollars on product development and marketing. My initial investment is usually less than $100. Then, I agree to purchase a product or service that I'm either already using, or should be using because it offers a financial or health benefit. I now just buy it from myself at half the cost rather than buying it from a store at a huge markup. I make back my investment almost instantly. It's starting to make sense.
But wait, there's more good news. I can work out of my home and take advantage of the numerous tax breaks enjoyed by home-based businesses. I don't need to dress up, so now I've saved hundreds of dollars that I spend annually on business attire. So, I now instantly own a profitable business. And if I'm worried about how fast my MLM business will take to produce actual income...I can still work my full-time job. Sweet!
Next, I learn how to market my MLM business without cramming it down people's throats. I work the numbers and eventually peak their curiosity enough to get them to look at the opportunity. If they agree to start their own MLM business, then I get paid a commission on the product they purchase...as does the people above me. That's good ol' profit sharing...just like the big oil companies.
THE MIS-CONCEPTION
HALT! This is where most people get hung up. "You mean someone else is going to make money if I buy the product? That's not fair!"
So, "genius", what happens when you buy something from Wal-mart? You pay for a product, plus the cost of marketing, insurance, payroll, and more. And, you just aren't paying Wal-mart - you are paying the manufacturer, warehouse and distributor - all the way up the line. Wait...here's something else that you don't realize. When you tell your neighbor, friend, relative or co-worker about that great new toothpaste, laundry detergent, nutritional supplement or make-up, guess who's NOT getting paid? YOU! You just became a free advertisement! You DON'T get a paycheck. Now, THAT'S NOT FAIR!
TIME TO RECONSIDER?
This past couple of weeks, I've really started thinking about my own financial situation. I've started looking at MLM opportunities. Yes, that's opportunities - plural. There are no pie-in-the-sky expectations of reaching millionaire status in 60 days. But, let's just say that in addition to my current business, BTK & Associates, I conservatively generate $10,000 the first year and that doubles each year thereafter. In five years, that's $160,000. In 10 years, when I retire at age 55, that's a little more than $5,000,000 (a five with six zeroes behind it) per year.
NOW COMES THE I-FACTOR
The "I" is for Internet. Back in the day, once I had worked my way through my Rolodex, I was done, tapped out. I maybe showed "The Plan" to fifteen of my 200 or so contacts. But with the Internet, more and more companies are using MLM business models to a sell product while creating millionaires in their wake. The number of people now generating residual income is staggering. People are adding other people they don't even know to their "downlines" via the Internet nearly every day.
WANT TO JOIN ME AND MY FAMILY IN BELIZE?
I consider myself to be pretty darn good at marketing and sales. I know some pretty average people who, in less than a year, are generating $100,000 with little effort and time. And there are so many LEGITIMATE MLM and "affiliate" opportunities available, that, unless you are a recluse, you can't not succeed.
If you would like to learn how you can generate additional residual income for you and your family, email me at brian@btkmarketing.com. I'll even help you set up your first business that doesn't even require an investment on your part but will generate a 30 percent residual income the first year!
I promise that if you join me now, we will all vacation together in Belize in January of 2009. See you there!
Sunday, August 31, 2008
Wednesday, August 13, 2008
Michael Phelps Teaches Golden Marketing Lesson from Beijing
(Photo by Donald Miralle, Getty Images)
As the world watches Michael Phelps collect gold medallions and shatter world records at the 2008 Beijing Olympics, I had one of those "Aha!" moments as he was collecting his 10th Olympic medal on Monday night, August 11, 2008.
Michael Phelps followed the same superstitious ritual he has gone through prior to each swimming event the past several years. He listened to his Rap music, removed his ear buds, took off his jacket, climbed up on the block and flapped his arms like a gigantic bald eagle about to swoop down on an unsuspecting meal.
But it was how he managed this particular race, just like all the others, that gave me a take-away that I can immediately apply to my business as well as my clients'.
Tense Moments
Phelps left the block, effortlessly motored himself under water and suddenly emerged on the surface somewhere in the middle of the pack. As we watched, my wife stated what I was thinking, "He's not leading. The guy in lane one is." Right on cue, as if he heard my wife and millions of other viewers gasp in unison, the announcer reassured. "Oh, but he knows exactly where he his and where his competitors are."
Aha! That's it. Here is a guy not only swimming to be the most-decorated Olympian in history, but he's also teaching a valuable marketing lesson at the same time. Phelp's course syllabus might read something like:
Practical ApplicationDo you know where your competition is? You've worked too
hard to let your competitions take the lead and increase it's market share. In this course you'll
learn how to monitor your competition, get to know their strengths and weakness, and implement both a proactive and reactive marketing strategy to help you reach for the gold in your business and personal lives.
I am currently working on a competitive intelligence project for a client in. Like Michael Phelps, this business has been working hard for the past twenty years is truly a champion in its industry. But, a sagging economy combined with some emerging technological challenges has put a recent drag on the business. My client wants to know where the competitors are. Where do they excel? Where do they fall short? What are the opportunities and threats that can help or hurt their business? Are we truly a leader or is someone else threatening our existence? These are all valid and important questions for any business to ask every single day.
Michael Phelps teaches us that you don't necessarily need to pull up and look at your competitors. He keeps kicking and pulling water with each stroke. He's focused. Most importantly, he keeps his head down and concentrates on the task at hand. But, he is instinctively aware of his competition. He's done his homework and due diligence. He's watched endless hours of video on each competitor and himself and he's replayed his races time and time again inside his head.
Game On
In your business, you need to keep your head down and move forward. But, equally as important, you need to understand your competition and environment. Review their website. Acquire their brochures. Be on the lookout for their advertising and scrutinize it as if it were your own. Monitor their pricing strategies. Once you know where your competition is, you'll be better poised to know when to save your energy and when to turn up the heat. At the end of each race, you'll find yourself breaking all kinds of records and standing atop the podium.
BTK & Associates can coach your business to victory conduct Competitive Intelligence. You'll learn who your competition is both in your market space and geographically. You gain confidence knowing that you can make the necessary adjustments to grown your market share and be a leader in your market.
For more information on how BTK & Associates can help your business stand out in a crowd, visit www.btkmarketing.com, email me at brian@btkmarketing.com, or call 317.696.6734.
Thursday, August 7, 2008
Who's Really Driving Your Marketing Strategy?
Are you letting your website designer, printing company, video company, freelance graphic designer or another niche marketing specialist commandeer your marketing efforts? If so, this might be the reason your sales are sluggish.
Scratching My Head
I'm a strong proponent of business networking. I attend a few business networking events each week. I can't help but chuckle inside and roll my eyes when I hear some young guy or girl who just started a web design company talk about sitting down with you and helping you with your "overall marketing strategy". I always walk away from those meetings scratching my head and seething a little bit.
"C'mon! Are you kidding me?" This is like going to the discount tire store to have a flat tire patched and having them tell you..."For $49.95 we can run a comprehensive diagnosis on your car and tell you how to optimize it's performance for better gas mileage." What are they going to sell you? Yep, you guessed it. Tires! They are going to sell you the newest tires rated for better road wear which means, of course, better mileage.
The Need for a Broader Diagnosis
Wouldn't you take your car back to the service center where you purchased it? Or, like me, you might have an independent automotive service center that has the training and experience to be able to provide a comprehensive diagnosis. My service center is qualified to look at the engine, transmission, suspension, fuel lines, electrical system, tires and more. I have the confidence in their years of experience and training. They make recommendations, tell me what repairs I need to make now...and later. They give me options and charge me a fair price.
The same goes for doctors. I have a family doctor that I depend on to review my overall health. He then makes recommendations for me to see various specialists whether that be for a sinus problem, ear infection, knee pain, allergies...etc. He refers me to someone with a more narrow focus. I wouldn't go see a orthopedic specialist for treatment if I was having chest pain.
Your Benefit or Theirs?
So, back to the question - who's driving your marketing. Your web designer? A video production company? Your advertising sales rep at the local newspaper? The quick printer down the street? If so, who's interest do you think they ultimately have in mind? Yours? No. They are in business to make money for their company.
There are some exceptions to the rules...but you've got to dig deep and ask lots of questions. But, one key questions you need to ask is, "Other than your company, who would you recommend to help me develop a comprehensive marketing strategy?" If they respond with ANY other answer than a recommendation for a marketing consultant, an advertising/marketing agency or a small business advocacy group such as the SBA, SCORE or Chamber of Commerce, turn and run for the hills.
Seeing The Big Picture
Now, you might be asking..."But aren't you in business to make money?" Absolutely. But, as your marketing "service center" or "physician". I'm going to get to know you and your business. I'm going to ask the right questions, take the pulse of your business, poke around until I find where it hurts and then, I'm going to recommend a plan to nurse your business back to good health. Then...I'll bring in the necessary specialists. In the end, my goal is to help you make more money so that you'll continue to partner with me so that I, too, make more money.
I have relationships with some of the best "specialists" in the industry. And, if you already have a preferred vendor, I'll be happy to meet with them to determine if they would make a good marketing partner. If not, I'll recommend one that will get the job done.
As a business owner, you owe it to yourself and your business to develop and implement a comprehensive marketing plan. This plan may mean diversifying your marketing portfolio across a number of strategies including the Internet, direct mail, sales collateral, print advertising, special events and more. This means working with a qualified consultant or an agency that sees the "big picture" and can build an overall strategy and make recommendations that will help your business grow and prosper.
If you are interested in a comprehensive diagnosis of your marketing efforts, I encourage you to visit my website at www.btkmarketing.com, email me at brian@btkmarketing.com or call me at 317.696.6734.
Scratching My Head
I'm a strong proponent of business networking. I attend a few business networking events each week. I can't help but chuckle inside and roll my eyes when I hear some young guy or girl who just started a web design company talk about sitting down with you and helping you with your "overall marketing strategy". I always walk away from those meetings scratching my head and seething a little bit.
"C'mon! Are you kidding me?" This is like going to the discount tire store to have a flat tire patched and having them tell you..."For $49.95 we can run a comprehensive diagnosis on your car and tell you how to optimize it's performance for better gas mileage." What are they going to sell you? Yep, you guessed it. Tires! They are going to sell you the newest tires rated for better road wear which means, of course, better mileage.
The Need for a Broader Diagnosis
Wouldn't you take your car back to the service center where you purchased it? Or, like me, you might have an independent automotive service center that has the training and experience to be able to provide a comprehensive diagnosis. My service center is qualified to look at the engine, transmission, suspension, fuel lines, electrical system, tires and more. I have the confidence in their years of experience and training. They make recommendations, tell me what repairs I need to make now...and later. They give me options and charge me a fair price.
The same goes for doctors. I have a family doctor that I depend on to review my overall health. He then makes recommendations for me to see various specialists whether that be for a sinus problem, ear infection, knee pain, allergies...etc. He refers me to someone with a more narrow focus. I wouldn't go see a orthopedic specialist for treatment if I was having chest pain.
Your Benefit or Theirs?
So, back to the question - who's driving your marketing. Your web designer? A video production company? Your advertising sales rep at the local newspaper? The quick printer down the street? If so, who's interest do you think they ultimately have in mind? Yours? No. They are in business to make money for their company.
There are some exceptions to the rules...but you've got to dig deep and ask lots of questions. But, one key questions you need to ask is, "Other than your company, who would you recommend to help me develop a comprehensive marketing strategy?" If they respond with ANY other answer than a recommendation for a marketing consultant, an advertising/marketing agency or a small business advocacy group such as the SBA, SCORE or Chamber of Commerce, turn and run for the hills.
Seeing The Big Picture
Now, you might be asking..."But aren't you in business to make money?" Absolutely. But, as your marketing "service center" or "physician". I'm going to get to know you and your business. I'm going to ask the right questions, take the pulse of your business, poke around until I find where it hurts and then, I'm going to recommend a plan to nurse your business back to good health. Then...I'll bring in the necessary specialists. In the end, my goal is to help you make more money so that you'll continue to partner with me so that I, too, make more money.
I have relationships with some of the best "specialists" in the industry. And, if you already have a preferred vendor, I'll be happy to meet with them to determine if they would make a good marketing partner. If not, I'll recommend one that will get the job done.
As a business owner, you owe it to yourself and your business to develop and implement a comprehensive marketing plan. This plan may mean diversifying your marketing portfolio across a number of strategies including the Internet, direct mail, sales collateral, print advertising, special events and more. This means working with a qualified consultant or an agency that sees the "big picture" and can build an overall strategy and make recommendations that will help your business grow and prosper.
If you are interested in a comprehensive diagnosis of your marketing efforts, I encourage you to visit my website at www.btkmarketing.com, email me at brian@btkmarketing.com or call me at 317.696.6734.
Thursday, July 17, 2008
Press Release Experiment: Part II
Please read my post, Press Release Experiment: Part 1, for the background on my experiment.
Just to recap...Thursday, July 3, I set out on a mission to follow a press release that I generated for my business. I wanted to see how fast it travelled through the Internet via news wires, RSS feeds, blogs and more. I also wanted to see if one press release could generate any inquiries and eventually provide a return that I could measure against my investment. I released it to local Indianapolis-area media on my own, via email. I also released it to national/international media through PRWeb on July 7th.
As of 10:00 p.m. on Wednesday, July 16th, the headline had appeared on 39,127 websites. Just on PRWeb alone, there were 426 full-page reads. The eBook version was downloaded 250 times. The PDF version was downloaded 36 times. And, 20 people downloaded the printer-friendly version.
That's 800 people who, on just PRWeb alone, has either read, downloaded or printed my press release. That's just one (1) website.
Today, my press release appears on nearly 500 business-related websites, blogs, and podcasts. I have even been quoted by newspapers and business publications in Europe and the United Kingdom. If I use PRWeb as a benchmark, which is very unscientific, and multiplied 500 sites that have posted my press release by 800, that's about 40,000 people that have read, downloaded or printed my release.
I can also track my website statistics. The average daily number of visitors to my website is nearly twelve times what it was prior to the press release distribution.
What I can't track are the newspapers, marketing journals, magazines, radio stations, television stations and other sources where my press release has been embraced and reported on.
Has my business benefited? Oh, yeah. I've received more than 60 emails from people I've never met, asking about my business. They've asked me to review their website. Two are sending me their marketing materials for review. Others want to know how much to budget for marketing and advertising. Others have asked about the benefits of blogging and podcasting. And, I've had a few asking me to help write press releases for their business.
I've had one on one appointments with three business owners in the Indianapolis area and scheduled another two.
I will tell you that, as I predicted, the number of reads has declined steadily over the past five days. Why? Because the headline is now getting buried in the news feeds. Also, my website hits are declining slightly.
This morning, a local real estate agent was curious how a press release could benefit her business. While she is impressed with my statistics, she didn't see how national or international exposure could be beneficial. First, a well-written release WILL get her local exposure. Secondly, people relocate. They are moving to the Indianapolis-area. Suppose that one person in Florida does a search for "Indianapolis Realtor" and her press release pops up in the top of the search engines. On that press release, they click on a link to that agent. They call her, schedule an appointment and buy a home. If that home is $400,000 and her commission is, say, $12,000 (3%), then she has just gotten a return that is more than 20 times her investment.
I'd say that's better than a poke in the eye with a sharp stick!
I'll continue to track my press release and provide updates. To track it on the Internet for yourself, go to any search engine and type in "BTK & Associates" (be sure to include the quotation marks).
For more information about how BTK & Associates can help you put together an effective press release marketing strategy, visit www.btkmarketing.com or call me at 317.696.6734.
Just to recap...Thursday, July 3, I set out on a mission to follow a press release that I generated for my business. I wanted to see how fast it travelled through the Internet via news wires, RSS feeds, blogs and more. I also wanted to see if one press release could generate any inquiries and eventually provide a return that I could measure against my investment. I released it to local Indianapolis-area media on my own, via email. I also released it to national/international media through PRWeb on July 7th.
As of 10:00 p.m. on Wednesday, July 16th, the headline had appeared on 39,127 websites. Just on PRWeb alone, there were 426 full-page reads. The eBook version was downloaded 250 times. The PDF version was downloaded 36 times. And, 20 people downloaded the printer-friendly version.
That's 800 people who, on just PRWeb alone, has either read, downloaded or printed my press release. That's just one (1) website.
Today, my press release appears on nearly 500 business-related websites, blogs, and podcasts. I have even been quoted by newspapers and business publications in Europe and the United Kingdom. If I use PRWeb as a benchmark, which is very unscientific, and multiplied 500 sites that have posted my press release by 800, that's about 40,000 people that have read, downloaded or printed my release.
I can also track my website statistics. The average daily number of visitors to my website is nearly twelve times what it was prior to the press release distribution.
What I can't track are the newspapers, marketing journals, magazines, radio stations, television stations and other sources where my press release has been embraced and reported on.
Has my business benefited? Oh, yeah. I've received more than 60 emails from people I've never met, asking about my business. They've asked me to review their website. Two are sending me their marketing materials for review. Others want to know how much to budget for marketing and advertising. Others have asked about the benefits of blogging and podcasting. And, I've had a few asking me to help write press releases for their business.
I've had one on one appointments with three business owners in the Indianapolis area and scheduled another two.
I will tell you that, as I predicted, the number of reads has declined steadily over the past five days. Why? Because the headline is now getting buried in the news feeds. Also, my website hits are declining slightly.
This morning, a local real estate agent was curious how a press release could benefit her business. While she is impressed with my statistics, she didn't see how national or international exposure could be beneficial. First, a well-written release WILL get her local exposure. Secondly, people relocate. They are moving to the Indianapolis-area. Suppose that one person in Florida does a search for "Indianapolis Realtor" and her press release pops up in the top of the search engines. On that press release, they click on a link to that agent. They call her, schedule an appointment and buy a home. If that home is $400,000 and her commission is, say, $12,000 (3%), then she has just gotten a return that is more than 20 times her investment.
I'd say that's better than a poke in the eye with a sharp stick!
I'll continue to track my press release and provide updates. To track it on the Internet for yourself, go to any search engine and type in "BTK & Associates" (be sure to include the quotation marks).
For more information about how BTK & Associates can help you put together an effective press release marketing strategy, visit www.btkmarketing.com or call me at 317.696.6734.
Tuesday, July 8, 2008
Press Release Experiment: Part I
If you are looking for cost effective ways to generate interest in your business or organization and you aren't using press releases, let me tell you about my current press release experiment.
Why?
I have a couple of clients and prospects that are considering adding press releases to their marketing mix. But, because they haven't done it before, there are concerns that it either won't generate leads or that a consistent press release strategy will be costly and difficult to manage.
So, last Thursday, July 3, I set out on a mission to follow a press release that I generated for my business. I wanted to see how fast it travelled through the Internet via news wires, RSS feeds, blogs and more. I also want to see if one press release could generate any inquiries and eventually provide a return on investment that I could measure against my investment.
The Topic
I didn't want to just issue a press release about my business. So, I zeroed in on a topic that I thought would be of interest to businesses, especially in today's economy. I specifically wanted speak directly to executives, managers, sales people and marketing professionals. My headline was BTK & Associates warns businesses against cutting marketing budgets. I thought it might grab some attention. Embedded in my assessment of marketing in a struggling economy was my underlying purpose - to position myself as an authority and hopefully generate interest in my consulting services.
Distribution
I decided to distribute the press release two ways. First, I emailed the release to my local media distribution list for print including newspapers, magazines and business journals. I decided not to distribute to radio and television. The second way I distributed it was through PRWeb.com.
PRWeb is a fee-based service where businesses can create and distribute press releases. Depending on which service you pay for (I think there are 4 levels with some add-on services), you can choose geographic areas by MSA, and you can select certain business sectors. I chose Indianapolis (the MSA where I live), Lafayette, Indiana (where I grew up), and Cincinnati (because its close and has a lot of businesses). I chose five business categories including executives, managers, marketing professionals, sales and technology. These are groups that people can subscribe to online to receive news about their job or industry.
And because last Friday was July 4th, I scheduled the release for 12:01 a.m., Monday morning so that it would hit the news wires for Monday.
Tracking Results
Here's the fun part - tracking results online. On Sunday morning, just for grins, I did a Google search and found that the press release had already been picked up by the Noblesville Daily Times, a small local paper. On Monday morning, again did a Google search and found that the release had made it's way onto some interesting news feeds including Gas & Oil News, eBusiness Automation, 8 Steps Success and a handful of others.
Next, I decided to log onto PRWeb and actually view my press release statistics. This is a great tool because it tracks how many times the headline actually appears in searches and how many full-page reads and downloads your release receives. Pretty cool!
Check It Out
If you want to see where the press release is appearing, go to Google and type in (use the quotation marks) "btk & associates". You'll find some of the more popular sites. Here is how it looks on PRWeb:
http://www.prweb.com/releases/2008/7/prweb1075274.htm
Here is a link to PR-USA.net:
http://www.pr-usa.net/index.php?option=com_content&task=view&id=117375&Itemid=34
My Press Release's Results
As of 10:30 on Monday morning, just 10-1/2 hours after the release was distributed by PRWeb, here are some impressive stats. The full-text had been read by 143 people across the globe. An additional 44 people had actually downloaded or printed it. The headline had already on over 6,400 websites/newsfeeds.
At 3:30 p.m., there were 156 full-page reads and an additional 74 dowloads/prints. The headline had now appeared on 12,466 sites.
As of last evening at about 10:30 p.m., the release had 236 full-page reads and another 203 downloads or prints.
This morning, at 9:18 a.m., there were 288 full-page reads and 268 downloads/prints. The headline impressions has reached 26,657.
Any Leads or Business?
Yes. Yesterday morning I had already received emails from three former colleagues, one in Indianapolis , one in Ohio and one in Michigan, who happened across the release. They had all visited my website and offered to help me network. I received two emails from people I didn't know asking me if I could speak at their business meetings. And I received a request for a quote helping an organization with sales collateral, website and scripting for fundraising. I'm pleased.
Measuring ROI
I'm documenting the inquiries, proposals and speaking engagements to see how much business is actually generated by this release over the next 90 days. But, I'm already confident that I will recoup my investment.
The Cost
Obviously, since I wrote the press release, I didn't have to pay. But, it did cost me about four hours of my time at a billable rate of, say, $75/hour. That's $300. My PRWeb fee was $140. So, my investment was less than $500. Compare that with one time insertion of a small print ad in a local newspaper...I'd never get that much exposure or generate the same results in 24 hours.
Updates
I'll continue to post updates here on my Marketing Muse blog. I'll let you know about any proposals, speaking engagements, interviews, etc... So, stay tuned!
To learn how BTK & Associates can help you develop and implement a press release strategy, visit www.btkmarketing.com or email me at brian@btkmarketing.com.
Why?
I have a couple of clients and prospects that are considering adding press releases to their marketing mix. But, because they haven't done it before, there are concerns that it either won't generate leads or that a consistent press release strategy will be costly and difficult to manage.
So, last Thursday, July 3, I set out on a mission to follow a press release that I generated for my business. I wanted to see how fast it travelled through the Internet via news wires, RSS feeds, blogs and more. I also want to see if one press release could generate any inquiries and eventually provide a return on investment that I could measure against my investment.
The Topic
I didn't want to just issue a press release about my business. So, I zeroed in on a topic that I thought would be of interest to businesses, especially in today's economy. I specifically wanted speak directly to executives, managers, sales people and marketing professionals. My headline was BTK & Associates warns businesses against cutting marketing budgets. I thought it might grab some attention. Embedded in my assessment of marketing in a struggling economy was my underlying purpose - to position myself as an authority and hopefully generate interest in my consulting services.
Distribution
I decided to distribute the press release two ways. First, I emailed the release to my local media distribution list for print including newspapers, magazines and business journals. I decided not to distribute to radio and television. The second way I distributed it was through PRWeb.com.
PRWeb is a fee-based service where businesses can create and distribute press releases. Depending on which service you pay for (I think there are 4 levels with some add-on services), you can choose geographic areas by MSA, and you can select certain business sectors. I chose Indianapolis (the MSA where I live), Lafayette, Indiana (where I grew up), and Cincinnati (because its close and has a lot of businesses). I chose five business categories including executives, managers, marketing professionals, sales and technology. These are groups that people can subscribe to online to receive news about their job or industry.
And because last Friday was July 4th, I scheduled the release for 12:01 a.m., Monday morning so that it would hit the news wires for Monday.
Tracking Results
Here's the fun part - tracking results online. On Sunday morning, just for grins, I did a Google search and found that the press release had already been picked up by the Noblesville Daily Times, a small local paper. On Monday morning, again did a Google search and found that the release had made it's way onto some interesting news feeds including Gas & Oil News, eBusiness Automation, 8 Steps Success and a handful of others.
Next, I decided to log onto PRWeb and actually view my press release statistics. This is a great tool because it tracks how many times the headline actually appears in searches and how many full-page reads and downloads your release receives. Pretty cool!
Check It Out
If you want to see where the press release is appearing, go to Google and type in (use the quotation marks) "btk & associates". You'll find some of the more popular sites. Here is how it looks on PRWeb:
http://www.prweb.com/releases/2008/7/prweb1075274.htm
Here is a link to PR-USA.net:
http://www.pr-usa.net/index.php?option=com_content&task=view&id=117375&Itemid=34
My Press Release's Results
As of 10:30 on Monday morning, just 10-1/2 hours after the release was distributed by PRWeb, here are some impressive stats. The full-text had been read by 143 people across the globe. An additional 44 people had actually downloaded or printed it. The headline had already on over 6,400 websites/newsfeeds.
At 3:30 p.m., there were 156 full-page reads and an additional 74 dowloads/prints. The headline had now appeared on 12,466 sites.
As of last evening at about 10:30 p.m., the release had 236 full-page reads and another 203 downloads or prints.
This morning, at 9:18 a.m., there were 288 full-page reads and 268 downloads/prints. The headline impressions has reached 26,657.
Any Leads or Business?
Yes. Yesterday morning I had already received emails from three former colleagues, one in Indianapolis , one in Ohio and one in Michigan, who happened across the release. They had all visited my website and offered to help me network. I received two emails from people I didn't know asking me if I could speak at their business meetings. And I received a request for a quote helping an organization with sales collateral, website and scripting for fundraising. I'm pleased.
Measuring ROI
I'm documenting the inquiries, proposals and speaking engagements to see how much business is actually generated by this release over the next 90 days. But, I'm already confident that I will recoup my investment.
The Cost
Obviously, since I wrote the press release, I didn't have to pay. But, it did cost me about four hours of my time at a billable rate of, say, $75/hour. That's $300. My PRWeb fee was $140. So, my investment was less than $500. Compare that with one time insertion of a small print ad in a local newspaper...I'd never get that much exposure or generate the same results in 24 hours.
Updates
I'll continue to post updates here on my Marketing Muse blog. I'll let you know about any proposals, speaking engagements, interviews, etc... So, stay tuned!
To learn how BTK & Associates can help you develop and implement a press release strategy, visit www.btkmarketing.com or email me at brian@btkmarketing.com.
Saturday, July 5, 2008
For Patriotic Marketing, Travel Back to 1776
My newspaper was stuffed with July 4th advertising circulars and I couldn't help but avoid the countless radio and television ads touting "Star Spangled Savings" and "All American Discounts". Everything from grocery items and bed mattresses to automobiles and vinyl siding were on sale over on this 2008 July 4th holiday weekend. That got me wondering, "What was on sale in July of 1776?"
This morning, with my ears still ringing from the blasts of last night's July 4th fireworks celebration, I finally found time to write about some interesting things I learned yesterday about life in 1776. It was what appeared in Dixon & Hunter's Virginia Gazette on July 20, 1776 that is probably the most influential advertisement ever placed. Read on...
Around 7:30 a.m., as I was tossing a purple 'power worm' in the pouring rain on my friend Matt's boat on Morse Lake during a bass fishing tournament, my thoughts drifted as they usually do when I'm not catching fish. I began thinking about a radio ad for a "Fourth of July Sale" for a home repair center. Another holiday. Another opportunity for retail businesses to exploit the long holiday in an effort to lure (no fishing pun intended) consumers.
So, after returning home having only caught one keeper largemouth and finishing dead last in the tournament, I was hoping I'd have better luck fishing the Internet for information about marketing and advertising in 1776.
It took awhile, but I finally "Googled" the right phrases that produced a collection of articles, research papers, discussions and images of the history of advertising. While there is evidence of advertising products and services dating back to 4,000 B.C., Advertising as we know it in the United States, first appeared in print in 1704. The first newspaper advertisement, an announcement seeking a buyer for an Oyster Bay, Long Island, estate, was published in the Boston News-Letter.
It was Ben Franklin, though, who started including paid advertisements in his newspaper, The Pennsylvania Gazette in 1742. Franklin's paper and others contained advertisements that only included text. Ads with illustrations and graphics began appearing in the late 1700s and more prominently around 1830.
Newspapers allowed people and businesses to expand their marketing beyond the common signs, window ads, posters and advertising bills (or flyers). Instead of reaching local townspeople or spreading information by word of mouth to a small target audience, newspapers allowed business owners to reach a few hundred or even a few thousand people throughout the 13 Colonies and in much larger cities such as Philadelphia, Boston and New York.
Advertisements weren't regulated though and everything was fair game. The majority of ads at that time were centered around slavery. During this dark time in our Nation's history, slave-owners bought and sold slaves. They also placed advertisements offering rewards when their slave's ran away or seeking rewards when they captured runaway slaves. Many newspapers, such as the Hartford Courant did in 2000, eventually apologized for profiting from running such advertisements.
Other prominent ads from the 1770s were more focused on products and services. Ships advertised their sailing dates so that businesses could ship their goods to other countries or arrange for products to be shipped back to them. They also advertising for sailing crews and space for passengers if available. People sold livestock for slaughter and horses for transportation. A watchmaker who offered his watchmaking and repair services. Richard Brooke advertised his cobbler services this way.
One of the most interesting advertisements I discovered was from a gentleman who was selling admission to his own death. Having felt that he had accomplished all that he wanted to in life, he planned an exhibition where he was to shoot himself with his revolver, once in the stomach and once in the head. He even warned the public against attending another man's hanging demonstration at the same time as his - calling it a fraudulent event. Pretty bizarre. I wonder whatever happened to the man...and the money he collected?
But it was the one full-page advertisement that appeared in the Dixon & Hunter's Virginia Gazette on July 20, 1776. I'm not sure that it was intended to be an advertisement. But, that's what it was. The advertisers identified a need to solve a problem. They consulted with each other to develop a plausible solution. The developed a product and marketed that product to the people of the thirteen colonies. The problem - tyrannical rule. The solution - independence and the right to self-govern. The product they needed to sell was the Declaration of Independence.
According to the Colonial Williamsburg Foundation, Alexander Purdie's Virginia Gazette (Friday, July 19, 1776) briefly noted the adoption of the Declaration of Independence by Congress.
On Saturday, July 20, the Council of the State of Virginia ordered that the full text be published, and it appeared in John Dixon and William Hunter's Virginia Gazette that same day. Dixon and Hunter had established their newspaper a year earlier with the motto "Always for Liberty and the Public Good."
The Declaration was publicly proclaimed in Williamsburg on July 25, at the Capitol, the Courthouse and the Palace "amidst the acclamations of the people, accompanied by firing of cannon and musketry, the several regiments of continental troops having been paraded on that solemnity". Alexander Purdie included the full text in his Virginia Gazette issue dated July 26.
A few years ago, I portrayed George Reid in the Indianapolis Civic Theater musical production of "1776". Reid was Delaware's Crown Attorney General and one of Delaware's appointees to the Congressional Congress and signers of the Declaration. I admit that I did not take the time then, nor had I ever taken the time to read the complete text of the Declaration of Independence. I took the time yesterday - all of five minutes to review the greatest, most poignant document in our young nation's history. I encourage you, too, to take the time.
As I sat in a friend's backyard last evening enjoying pulled pork barbecue and other great homemade dishes, I watched our kids running and playing on swing sets and the adults eating, laughing and partaking in adult beverages. But, I couldn't help but think about what I had learned during a couple of hours surfing the Internet and the few minutes it took to read the text of the Declaration. As a people, we enjoy many great freedoms that we take for granted. I thought about my brother in law, Major Scott Sendmeyer, U.S. Army who is currently stationed in Mosul, Iraq, training the Iraqi troops how to fight for and defend their freedom.
Using such a great National holiday to market discounts on furniture, cars, computers, triple-pane windows and other products wrings a little trivial in my mind right now. However, without the work of our Founding Fathers like John Adams, Benjamin Franklin and the other signers of the Declaration, and so eloquently written by Thomas Jefferson, we could not not enjoy such a freedom.
"And for the support of this Declaration, with a firm reliance on the protection of divine Providence, we mutually pledge to each other our Lives, our Fortunes and our sacred Honor."
This morning, with my ears still ringing from the blasts of last night's July 4th fireworks celebration, I finally found time to write about some interesting things I learned yesterday about life in 1776. It was what appeared in Dixon & Hunter's Virginia Gazette on July 20, 1776 that is probably the most influential advertisement ever placed. Read on...
Around 7:30 a.m., as I was tossing a purple 'power worm' in the pouring rain on my friend Matt's boat on Morse Lake during a bass fishing tournament, my thoughts drifted as they usually do when I'm not catching fish. I began thinking about a radio ad for a "Fourth of July Sale" for a home repair center. Another holiday. Another opportunity for retail businesses to exploit the long holiday in an effort to lure (no fishing pun intended) consumers.
So, after returning home having only caught one keeper largemouth and finishing dead last in the tournament, I was hoping I'd have better luck fishing the Internet for information about marketing and advertising in 1776.
It took awhile, but I finally "Googled" the right phrases that produced a collection of articles, research papers, discussions and images of the history of advertising. While there is evidence of advertising products and services dating back to 4,000 B.C., Advertising as we know it in the United States, first appeared in print in 1704. The first newspaper advertisement, an announcement seeking a buyer for an Oyster Bay, Long Island, estate, was published in the Boston News-Letter.
It was Ben Franklin, though, who started including paid advertisements in his newspaper, The Pennsylvania Gazette in 1742. Franklin's paper and others contained advertisements that only included text. Ads with illustrations and graphics began appearing in the late 1700s and more prominently around 1830.
Newspapers allowed people and businesses to expand their marketing beyond the common signs, window ads, posters and advertising bills (or flyers). Instead of reaching local townspeople or spreading information by word of mouth to a small target audience, newspapers allowed business owners to reach a few hundred or even a few thousand people throughout the 13 Colonies and in much larger cities such as Philadelphia, Boston and New York.
Advertisements weren't regulated though and everything was fair game. The majority of ads at that time were centered around slavery. During this dark time in our Nation's history, slave-owners bought and sold slaves. They also placed advertisements offering rewards when their slave's ran away or seeking rewards when they captured runaway slaves. Many newspapers, such as the Hartford Courant did in 2000, eventually apologized for profiting from running such advertisements.
Other prominent ads from the 1770s were more focused on products and services. Ships advertised their sailing dates so that businesses could ship their goods to other countries or arrange for products to be shipped back to them. They also advertising for sailing crews and space for passengers if available. People sold livestock for slaughter and horses for transportation. A watchmaker who offered his watchmaking and repair services. Richard Brooke advertised his cobbler services this way.
For Sale
A shoemaker who understands mens' and womens' feet completely. He has about five and a half years to serve and worked and worked many years with Mr. Didsbury. For terms, apply to subscriber near Fredericksburg. Richard Brooke.
One of the most interesting advertisements I discovered was from a gentleman who was selling admission to his own death. Having felt that he had accomplished all that he wanted to in life, he planned an exhibition where he was to shoot himself with his revolver, once in the stomach and once in the head. He even warned the public against attending another man's hanging demonstration at the same time as his - calling it a fraudulent event. Pretty bizarre. I wonder whatever happened to the man...and the money he collected?
But it was the one full-page advertisement that appeared in the Dixon & Hunter's Virginia Gazette on July 20, 1776. I'm not sure that it was intended to be an advertisement. But, that's what it was. The advertisers identified a need to solve a problem. They consulted with each other to develop a plausible solution. The developed a product and marketed that product to the people of the thirteen colonies. The problem - tyrannical rule. The solution - independence and the right to self-govern. The product they needed to sell was the Declaration of Independence.
According to the Colonial Williamsburg Foundation, Alexander Purdie's Virginia Gazette (Friday, July 19, 1776) briefly noted the adoption of the Declaration of Independence by Congress.
On Saturday, July 20, the Council of the State of Virginia ordered that the full text be published, and it appeared in John Dixon and William Hunter's Virginia Gazette that same day. Dixon and Hunter had established their newspaper a year earlier with the motto "Always for Liberty and the Public Good."
The Declaration was publicly proclaimed in Williamsburg on July 25, at the Capitol, the Courthouse and the Palace "amidst the acclamations of the people, accompanied by firing of cannon and musketry, the several regiments of continental troops having been paraded on that solemnity". Alexander Purdie included the full text in his Virginia Gazette issue dated July 26.
A few years ago, I portrayed George Reid in the Indianapolis Civic Theater musical production of "1776". Reid was Delaware's Crown Attorney General and one of Delaware's appointees to the Congressional Congress and signers of the Declaration. I admit that I did not take the time then, nor had I ever taken the time to read the complete text of the Declaration of Independence. I took the time yesterday - all of five minutes to review the greatest, most poignant document in our young nation's history. I encourage you, too, to take the time.
As I sat in a friend's backyard last evening enjoying pulled pork barbecue and other great homemade dishes, I watched our kids running and playing on swing sets and the adults eating, laughing and partaking in adult beverages. But, I couldn't help but think about what I had learned during a couple of hours surfing the Internet and the few minutes it took to read the text of the Declaration. As a people, we enjoy many great freedoms that we take for granted. I thought about my brother in law, Major Scott Sendmeyer, U.S. Army who is currently stationed in Mosul, Iraq, training the Iraqi troops how to fight for and defend their freedom.
Using such a great National holiday to market discounts on furniture, cars, computers, triple-pane windows and other products wrings a little trivial in my mind right now. However, without the work of our Founding Fathers like John Adams, Benjamin Franklin and the other signers of the Declaration, and so eloquently written by Thomas Jefferson, we could not not enjoy such a freedom.
"And for the support of this Declaration, with a firm reliance on the protection of divine Providence, we mutually pledge to each other our Lives, our Fortunes and our sacred Honor."
Wednesday, July 2, 2008
I Am Now An Official "Twitterer"
You might say that I am "Twitterpated" now that I have latched on to one of the newest Internet marketing tools called Twitter.
Left In the Dust
Back in February, when I started contemplating taking my business BTK & Associates full time, I started realizing that, as a marketing & sales consultant, it would be my responsibility to stay up to date on the most current trends and share them with my clients. That was going to be a bit of a problem.
Admittedly, technology passed me by at warp speed over the past two years as I was pigeon-holed in a stagnant bank marketing environment. We couldn't spend money and we sure weren't allowed to implement any new marketing tools - or very many traditional ones, for that matter. I can't believe how much the marketing landscape changed around me. It was like I went into hyper-sleep for 24 months only to awaken to find all of this new marketing technology.
Being Resourceful
As a self-proclaimed "marketing junkie", I am constantly reading and researching marketing & sales information. Whether it's speed reading a book while drinking a latte at a nearby Barnes & Noble bookstore or perusing the Internet, I am constantly on the lookout for new ideas and technology. I can't tell you how many Internet groups, forums and blogs I subscribe to currently. One of those sources is Larry Chase's Web Digest for Marketers. It's a great resource for news about new and emerging marketing tactics.
This week, he wrote about "Twitters". How people come up with terms like blogs, bloggers, widgets, blidgets and now, twitter and twitterers I'll never understand. But, Twitter technology has a lot of merit and promise as a corporate marketing and sales tool.
What is a Twitter?
In my own definition, a Twitter is a miniature blog that allows people in a group to establish a social network and communicate via email and cell phone by sending short messages called "tweets". You might say, "Well, we already communicate via email and texting." Not like this.
For example, when I build an email list for my business using a service like Constant Contact or Exact Target, which I pay for, I include clients, prospects, friends, family and neighbors. Depending on their email settings, my emails may not get through their spam filters. And, I have no way to know if they are really taking the time to read them before they end up in the trash. And when it comes to sending a text message, I have to set up my text message list and then type the message separately from my email message. Twittering solves all of these problems by combining the tasks...and it's FREE.
With Twitter technology, I simply invite clients and prospects to subscribe to my tweets. Or, other twitterers can become "followers" of my Twitter because they did a topic search and decided they wanted to stay in contact. Twitter networks can be set up for families, neighborhoods, friends, sports teams, support groups and more...it's limitless.
Marketing Benefits
So, how can your business benefit by using Twitter as a marketing tool? Let's say that you own a seafood restaurant. Your supplier offers you a great deal on Alaskan Sock-eye salmon. You can send a tweet to your list announcing your menu special in an effort to boost reservations. Your "followers" receive an instant email notification as well as a message sent to their mobile phone. A bank may use Twitter to alert customers to special interest rate. A Realtor may tell clients about a new home listing. Your company may release details about registration for a seminar or conference or news about a new product release or upgrade. Twitter is ideal if you want or need to communicate timely information with your customers and/or prospects to elicit a buying response.
Who's Twittering?
So, how popular is Twitter? Here are the names of just a few familiar companies and brands that use Twitter as a marketing & communication tool.
If you'd like help setting up a Twitter and developing a strategy built around this new technology, visit www.btkmarketing.com or email me at brian@btkmarketing.com
Left In the Dust
Back in February, when I started contemplating taking my business BTK & Associates full time, I started realizing that, as a marketing & sales consultant, it would be my responsibility to stay up to date on the most current trends and share them with my clients. That was going to be a bit of a problem.
Admittedly, technology passed me by at warp speed over the past two years as I was pigeon-holed in a stagnant bank marketing environment. We couldn't spend money and we sure weren't allowed to implement any new marketing tools - or very many traditional ones, for that matter. I can't believe how much the marketing landscape changed around me. It was like I went into hyper-sleep for 24 months only to awaken to find all of this new marketing technology.
Being Resourceful
As a self-proclaimed "marketing junkie", I am constantly reading and researching marketing & sales information. Whether it's speed reading a book while drinking a latte at a nearby Barnes & Noble bookstore or perusing the Internet, I am constantly on the lookout for new ideas and technology. I can't tell you how many Internet groups, forums and blogs I subscribe to currently. One of those sources is Larry Chase's Web Digest for Marketers. It's a great resource for news about new and emerging marketing tactics.
This week, he wrote about "Twitters". How people come up with terms like blogs, bloggers, widgets, blidgets and now, twitter and twitterers I'll never understand. But, Twitter technology has a lot of merit and promise as a corporate marketing and sales tool.
What is a Twitter?
In my own definition, a Twitter is a miniature blog that allows people in a group to establish a social network and communicate via email and cell phone by sending short messages called "tweets". You might say, "Well, we already communicate via email and texting." Not like this.
For example, when I build an email list for my business using a service like Constant Contact or Exact Target, which I pay for, I include clients, prospects, friends, family and neighbors. Depending on their email settings, my emails may not get through their spam filters. And, I have no way to know if they are really taking the time to read them before they end up in the trash. And when it comes to sending a text message, I have to set up my text message list and then type the message separately from my email message. Twittering solves all of these problems by combining the tasks...and it's FREE.
With Twitter technology, I simply invite clients and prospects to subscribe to my tweets. Or, other twitterers can become "followers" of my Twitter because they did a topic search and decided they wanted to stay in contact. Twitter networks can be set up for families, neighborhoods, friends, sports teams, support groups and more...it's limitless.
Marketing Benefits
So, how can your business benefit by using Twitter as a marketing tool? Let's say that you own a seafood restaurant. Your supplier offers you a great deal on Alaskan Sock-eye salmon. You can send a tweet to your list announcing your menu special in an effort to boost reservations. Your "followers" receive an instant email notification as well as a message sent to their mobile phone. A bank may use Twitter to alert customers to special interest rate. A Realtor may tell clients about a new home listing. Your company may release details about registration for a seminar or conference or news about a new product release or upgrade. Twitter is ideal if you want or need to communicate timely information with your customers and/or prospects to elicit a buying response.
Who's Twittering?
So, how popular is Twitter? Here are the names of just a few familiar companies and brands that use Twitter as a marketing & communication tool.
- CNN
- Computer World
- Fox News
- Carnival Cruise Lines
- Southwest Airlines
- MGM Grand Hotel & Casino
- Amazon.com
- Apple Computers
- Dell
- Monster.com
- Notre Dame
- Michigan State University
- Ford Motor Company
- General Motors
- Forrester Research
- Cincinnati Art Museum
- San Fransisco Zoo
- Smithsonian Institute
- Comcast
- M&Ms
- Barack Obama
And there's thousands more...
I encourage you to visit Twitter.com and see for yourself how you can join the Twitter craze. If you'd like to join my Twitter network, I can be found at http://twitter.com/btk_marketing.If you'd like help setting up a Twitter and developing a strategy built around this new technology, visit www.btkmarketing.com or email me at brian@btkmarketing.com
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