Marketing on a shoestring: inbound, outbound tactics and SOSTAC®
05/12/2011 3 Comments
Jane, there seems to be a lot of confusion between ‘marketing’ and ‘marketing communications’ in recent discussions online.
The difference is more obvious the bigger an enterprise gets, when responsibilities are delegated to separate departments and outside agencies but it is still an important distinction for a micro-enterprise to make.
Smaller enterprises invariably have to heap a bundle of management responsibilities onto one person. To draw a parallel in accounting, even a small firm distinguishes between book-keeping (keeping accurate financial records) and management accounts (financial information for decision-making), even if the same person is responsible for both and they can merge into the same activity. So marketing and marketing communications should be seen as distinct activities with different purposes.
Marketing used to be functionally divided into the four ‘P’s — Product; Place; Price; Promotion. What you are talking about in your post is promotion: but before promotion begins, a true marketing approach means that you need to have ensured that your product and price are market-ready and market-acceptable. Small enterprises can rarely afford the luxury of market research or trial launches so it is normally carried out as part of day-to-day operations, using feedback from early adopters..
In any case, many pundits now advocate — in the era of Web 3.0 and social media — using the five ‘E’s — Experience (instead of Product); Everywhere (instead of Place); Exchange (instead of Price); Evangelism (instead of Promotion) and, finally, Enablement — using crowdsourcing, polls, wikis, viral effects, SEO, blogs and social media.
‘Everywhere’ indicates the universal nature of the Web but I suspect there is still a natural limit to Evenbreak’s reach — probably mainland UK? Exchange is the practice of having a pricing model which allows some initial functionality free and gradually charging as additional features are used.
What you describe in you post is Promotion — now better-labelled Evangelism and Enablement. Two commoner names for these (marketing communications) functions are Outbound Marketing Communications and Attraction Marketing Communications (or Inbound or Digital Footprint or any number of terms which online snake oil sellers are trying to make their own).
You may think I am being pedantic in continually using the term Marketing Communications (MC) — and I may be — but the division is useful if it persuades an enterprise to return to the marketing drawing board if some of the fundamentals of a service prove unacceptable to its marketplace through sensitive, two-way MC.
What you have described, very thoroughly, is an Inbound MC Programme, with the exception of the hard copy letter, passed by the Chief Executive, and events. These I would class as Outbound MC — Evangelism.
I have worked for a start-up over the last few weeks and, because he had done his market research quite carefully, I helped him plan both Inbound and Outbound MC Programmes which I am helping him to execute.
Why both? Because he need short-term results and I have facilitated acquiring data on his target individuals at 30p a shot (commercial property landlords in development mode) and using a home-based B2B telemarketer whom we can task, flexibly, at a minimum of two hours at a time.
She sets up appointments and feeds the data into an online CRM system which also links into the email marketing database for a number of follow-up emails according to landlords’ response and resulting position in the sales funnel. Plans for a webinar in the new year are in hand.
We run a modest PPC AdWords Campaign, partly to help us research and optimise our Keyword List.
We are also running an Inbound MC Programme — blog, social media, links, SEO, guest blogs, LinkedIn Q&A, digital PR — but results will take two to three months to come through and, meanwhile, the Outbound MC Programme is getting the sales funnel moving immediately.
We use Paul R Smith’s SOSTAC® Planning System [http://www.prsmith.org/sostac.html] and have created two documents — a Marketing Plan and Marketing Communications Programme — using the SOSTAC template. Rather than written in stone, they are in Google Documents and available to the whole team and continuously amended to take account of marketing intelligence and remarks from telemarketing and data from the CRM system and a Digital PR Dashboard (also in Google Docs as a spreadsheet).
The Dashboard has all the indices necessary to monitor and measure the progress of the MC Programmes and help us decide how much telemarketing or inbound activity to commission each week to meet sales targets.
When referring to your (Inbound MC) tactics, you say “most cost nothing but time and imagination”: time and imagination are in short supply, probably more so than cash. That is why my customers pay me — to supply them. They also pay for dedicated execution which is a key part of creativity. Ideas need to be delivered!
I am a great admirer of your enterprise — in both meanings of the word — and, if I can advise in any way, I would be happy to provide some of that free time you mention.