MARKETING TIPS TO HELP YOUR BUSINESS BECOME SUCCESSFUL:

With the current changes in our New Digital Era, it is more important then ever to be on top of your Marketing Plan.

DO YOU HAVE YOUR PLAN TOGETHER FOR 2008 YET???

If not, please call me, so I can help you create a Successful Business Plan. Barbra Edwards 856-863-1039

Below are several tips to help you on the right path!!

THE PURPOSE OF MARKETING

Determining the needs and wants of prospective and existing clients is vital to the growth of a photographic business. Satisfying those needs and wants with the appropriate products and services is what marketing is all about.

While the ultimate purpose of marketing is to make sales, marketing is not sales, per se. What marketing does is to create the conditions under which more sales can be made, because it makes prospective clients want to do business with the studio. A marketing plan is essential for the success of any photographic business because it can:

• Open the door to new customers.
• Foster customer loyalty to your studio.
• Increase word-of-mouth referrals.
• Add value to products and services.
• Makes sales easier.

THE "MARKETING MIX"

Marketing is an ongoing process that involves planning year-round marketing activities for all segments of a business. The components that affect the success of any marketing plan are often referred to as the "marketing mix," or the "4 Ps" of marketing. They are:

• PRODUCT
• PRICE
• PLACE
• PROMOTION

Understanding the 4P components and how they relate to and affect one another will help you to create more effective marketing plans.

PRODUCT

A product is defined as a combination of benefits, physical features, and services designed to satisfy the needs of a market. Products should be chosen to "fit" the market you wish to serve-to satisfy the needs and wants of that specific market.

PRICE

Business activities associated with determining the costs and profitability of product development, productions, and delivery of specific goods and services are referred to as pricing.

PLACE

Successful marketing requires that business activities Associated with offering the products and services take place at the right location. This includes not only the geographic location of the studio, but also the studio's interior environment.

PROMOTION

Promotion, or the communication of information between buyers and sellers, is central to the marketing mix. Promotion informs prospective customers that the business has the right product- available in the right place, at the right time, and at the right price-thus performing the critical function of creating a desire on their part to do business with the company.

As you learn more about the 4 P's that are central to the marketing mix, you will recognize that they are intertwined to such a great extent that a change(s) in one nearly always affects or necessitates change in the others.

TARGETING AN APPROPRIATE MARKET

No matter where a business is located, it will succeed only if it has access to appropriate markets. An appropriate market population must have the following characteristics:

• Possess a need to want that you can satisfy efficiently.
• Be willing to consider your product or service.
• Have the financial means to purchase your product or service.

"Target marketing" is the process of identifying different customer "segments" with whom you wish to do business. When considering a target market, you should ask these four questions about it:

• Is it large enough for you to do a satisfactory volume of business?
• Is it reachable, and how?
• Is it responsive, and how do you test that responsiveness?
• Is the market segment measurable in terms of the sales results achieved?

If the answer is yes to these questions, then it is an appropriate market target.

ASSESSING YOUR OWN BUSINESS

It is only fair that you allow your "secret shopper" to evaluate your own business. This can be done in one of two ways. If you believe your shopper can be objective enough to criticize your studio, then ask her to go through the same process with your business. Do so before you have received the shopper's evaluations of your competitors to assure that you don't treat her differently because you have become aware of her specific likes and dislikes.

CREATING A MISSION STATEMENT

Once your business concept is clearly articulated, a Mission Statement should be relatively easy to develop. When a business owner takes the time to create a Mission Statement (it can be called a Statement of Purpose if you prefer), it helps to establish a strong internal focus for the business that ultimately can be translated into benefits for the customer. It also clearly states to the external world how you wish to be recognized in the community.

A Mission Statement can include any or all of these elements:

• The geographical area you wish to serve.
• The market segment you wish to attract.
• The level of quality of the photography you create.
• The level of customer service you provide.
• How you want clients to feel about your work.
• The importance of your product in the lives of your clients.

Your Mission Statement should be displayed prominently in your studio, and its spirit can be reflected in your promotional materials. If you take the time to create an appropriate Mission Statement before you begin to produce marketing materials, it will help you to focus your advertising message.

(SEE MY MISSION STATEMENT IN MY OPENING ON MY WEB PAGE)

Example of an effective Mission Statement:

Smith Studio and Portrait Gallery exists to serve discriminating clients in the tri-state area who appreciate the high degree of customer service necessary to create the very finest quality of artful photography: portraiture that graces the home and touches the heart.

THE IMPORTANCE OF "BEING DIFFERENT"

The average consumer is largely ignorant of the criteria for judging photography of quality, and most base their judgments on the subject's expression alone. Therefore, if a mass market photography produces a portrait in which the subject has a pleasing expression, it is a quality portrait - at least from the consumer's limited perspective. The challenge to independent studios, then, is to position themselves so that prospects can identify enough tangible personal value to themselves to overcome the consideration of added cost. This should be done within a context that creates a demand for the product.

IMAGE MARKETING VERSUS ACTION MARKETING

Marketing can be broken down into two different facets:
Image Marketing and Action Marketing. Understanding the difference will help you to create more effective marketing plans and materials.

IMAGE MARKETING

Image marketing is how you tell the public what is different and wonderful about your business. National retailers spend millions of dollars to create, cultivate, and sustain a specific business image. Chains such as Victoria's Secret, Gap and Olive Garden know who their clients are and how to create an image that is consistent with their lifestyles and buying behaviors. These are the kinds of businesses who, like your photography business, are competing for the disposable dollar of consumers.

Independent photographers do not have access to the huge marketing budgets of national chains; but that doesn't mean a studio can't build a positive image that creates community awareness of the business. Not surprisingly, uniqueness is the cornerstone of good image marketing, which sometimes is referred to as "institutional advertising." What a good image-marketing ad does is tell the world that your products and services are the very best there are and why-specifying what is unique about your business. Although you do not say these exact words, the implication is: If money were no object, all consumers would buy from you!

ACTION MARKETING

The purpose of action marketing is to stimulate business, usually during a specific time frame. Industry experience shows that action marketing is most effective prior to gift-giving occasions, especially Christmas and Hanukkah. Action marketing, however, also can be effective during times of seasonal change (such as spring and fall) or for limited-time events that feature a specific product and/or involve special offers.

Smart marketers recognize there is a link between image marketing and action marketing: Studios that excel at building their business image enjoy better action-marketing results. Why? Because image marketing builds brand identify and helps to create a demand for your product. This "brand equity" carries over to your action-marketing activities and, accordingly, increases their effectiveness.

Call me soon so we can set up a "free" consultation together and work on a great plan for 2006!!!! Barbra Edwards
856-863-1039

Check out the NEW MARKETING ADVANTAGE PROGRAM from Marathon.

Have you ever really thought about what it takes to raise your marketing to the next level?

FOCUS - to assure that the brand you intend to build or enhance is appropriate for your business concept and target market.

PLANNING - to assure that the marketing strategies you adopt and the promotional products you create reinforce and add meaning to your brand.

FLEXIBILITY - to assure access to the widest possible array of marketing products, yet still maintain your desired design intent and graphic integrity.

RELIABILITY - to assure that both the time and the money you invest in creating marketing strategies and products are well spent.

SUPPORT - to assure that your good intentions translate into action and that your strategies remain relevant in today's rapidly evolving marketplace.

COMMITMENT - to assure your business success by implementing the strategies identified in your comprehensive marketing plan.

PLEASE GO TO www.marathonpress.com for more information on our New Dynamic Program.

Also, check out the New BellaGrafica line.