Saw this come across the email today and thought it was interesting!
The Archives of Internal Medicine published a comprehensive research study last week entitled "Effect of Exposure to Small Pharmaceutical Promotional Items on Treatment Preferences." The goal was to find out whether or not ad specialties influenced the attitudes of medical students toward the products that were being marketed.
The findings: Yes they do.
Distributors aren't surprised. "I think it's true. A lot of people at a lot of companies and businesses appreciate a gift," says Kathleen Patton, president of Foley Associates (asi/195770), who often lectures about the effectiveness of promotional products at colleges. Lisa Davila, president of Bdazle Promotions (asi/134454), agrees with the findings of the study about the impact of low-cost promotional items. "It makes complete sense," she says. "The more familiar you are with a brand, the more comfortable you are using it. The more you see a label or logo, the more it makes you feel warm and fuzzy."
Because of the tightening guidelines regarding the use of promotional products in the medical field, four doctors decided to attempt to find out if the restrictions were really necessary. Their premise was that you "often assume that small promotional items are unlikely to influence prescribing behavior," says the report. This attitude is, according to their findings, incorrect. They wanted to know: Do promotional products produce a more favorable attitude and do the policies against them work? The controlled experiment involved 352 third- and fourth-year med students at the University of Miami School of Medicine and the University of Pennsylvania School of Medicine (where restrictive policies are in place limiting drug marketing). They were all exposed to branded Lipitor items without knowledge that they were part of a study. Fourth-year students at Miami had a more favorable attitude (by a score of 0.66) toward Lipitor compared to the control group (0.47). The scores were derived from an Implicit Association Test.
While the findings are powerful, the debate as to whether such influence is in fact harmful is an entirely different story, says Davila. "It's a double edged sword," she says. "There are plenty of products that work but they may not think of it. If it's an allergy medication, many of which are the same, which will they prescribe? Probably the one that's sitting on their desk [in the form of an ad specialty]. On the negative side, it could hurt smaller companies that have a good product and aren't spending on promotional products."
Tuesday, May 26, 2009
Thursday, February 12, 2009
Marketing in a Down Economy
In recent years, we small business owners have seen some tough times. And many parts of the country have not been strong economically since before 9/11. In times like this, the first instinct of many small business owners is to cut their marketing way back…or out completely.
This is a huge mistake. As I once heard someone say, “Cutting out advertising to save money is like stopping your clock to save time.” If you are not constantly marketing your business, you soon won’t have a business to worry about!
During tough times, business owners are faced with tough decisions. Just be responsible…and be wary of making any drastic decisions when it comes to promoting your business. Now is the time to be even MORE targeted than ever before!
Increase Your Marketing…Increase Your Marketing Share
It may sound a bit crazy, but a down time is a great time to really increase your marketing presence! Most of your competitors will be looking for ways to scale back…and they will cut back their marketing. By increasing your marketing efforts, you can increase your marketing share during a tough time. And when the economy bounces back, you will be in a better position for real growth!
Don’t believe me? Check out this study for proof!
In a study of U.S. recessions, McGraw-Hill Research analyzed 600 companies from 1980-1985. The results showed that business-to-business firms that maintained or increased their advertising expenditures during the 1981-1982 recession averaged Significantly Higher Sales growth, both during the recession and for the following three years, than those that eliminated or decreased advertising. By 1985, sales of companies that were aggressive recession advertisers had risen 256% over those that didn't keep up their advertising.
In addition, a series of six studies conducted by the research firm of Meldrum & Fewsmith showed conclusively that Advertising Aggressively during Recessions not only Increases Sales but Increases Profits. This fact has held true for all post-World War II recessions studied by The American Business Press starting in 1949.
So use this time of downturn to plant the seeds for future growth by increasing your marketing efforts.
Become More Targeted
Notice I said increase your marketing “efforts.” I didn’t say dollars. My entire marketing philosophy is about creating targeted efforts, and during a down time that targeted effort becomes even more imperative.
You need to make sure that each and every dollar you spend has an impact on your sales…and ultimately your bottom line. So now is a great time to re-examine the way you are spending your marketing dollars. If you need to cut, consider cutting the low-return marketing items you do. These are often your “habit buys.” Things like this might cost $25, $50, or even $100 per time and probably don’t really give you any return. If you are going to cut something…there’s the place to start.
Now that you have trimmed some fat by eliminating ads that don’t show returns, take that money and increase your efforts that DO generate success. By simply doing this one strategy, you will be pleasantly surprised by the return.
Create A Target List
Each business is different. But when you are re-evaluating your marketing efforts, I encourage folks to create a target list of customers they want to have. If you can’t name specific potential customers, then create the image of what your ideal customer would look like. Doing so will help you to focus your efforts. What would it take to make this person or business (and lots more like them) a customer of mine? Once you have a clear vision of the type of person you want—and what it would take to get them—attack that plan!
Re-Visit Dormant Accounts
When you are looking at ways to create new customers, you also need to consider ways to get old customers back! Sometimes they have stopped doing business with your for legitimate reasons…but sometimes not. Now is a great time to reach out an olive branch to those customers that used to don your doorstep regularly…and see if you can get them to return!
See the People
One of my early sales managers used to say that if you wanted to increase your sales, you needed to “see the people.” With all of the advertising methods, venues, and options, we can all fall into the trap of waiting for customers to come to us. It’s an easy trap to fall into, so don’t beat yourself up if you do it. But one of the best ways to jump start your revenue is to simply go out and “see the people!”
Business is often built on relationships. And you can certainly strengthen these business relationships by showing your customers that you appreciate them. My advice would be to make these visits a “thank you” visit. Obviously you want to use these opportunities to sell yourself and your business. But you will be surprised by how much business will come to you when you show your customers that you care about them…and their business.
There’s no doubt about it. Tough economic times are tough on small businesses. But by re-evaluating your marketing efforts, and making sure your efforts are more targeted, you can survive and position yourself for future growth!
This is a huge mistake. As I once heard someone say, “Cutting out advertising to save money is like stopping your clock to save time.” If you are not constantly marketing your business, you soon won’t have a business to worry about!
During tough times, business owners are faced with tough decisions. Just be responsible…and be wary of making any drastic decisions when it comes to promoting your business. Now is the time to be even MORE targeted than ever before!
Increase Your Marketing…Increase Your Marketing Share
It may sound a bit crazy, but a down time is a great time to really increase your marketing presence! Most of your competitors will be looking for ways to scale back…and they will cut back their marketing. By increasing your marketing efforts, you can increase your marketing share during a tough time. And when the economy bounces back, you will be in a better position for real growth!
Don’t believe me? Check out this study for proof!
In a study of U.S. recessions, McGraw-Hill Research analyzed 600 companies from 1980-1985. The results showed that business-to-business firms that maintained or increased their advertising expenditures during the 1981-1982 recession averaged Significantly Higher Sales growth, both during the recession and for the following three years, than those that eliminated or decreased advertising. By 1985, sales of companies that were aggressive recession advertisers had risen 256% over those that didn't keep up their advertising.
In addition, a series of six studies conducted by the research firm of Meldrum & Fewsmith showed conclusively that Advertising Aggressively during Recessions not only Increases Sales but Increases Profits. This fact has held true for all post-World War II recessions studied by The American Business Press starting in 1949.
So use this time of downturn to plant the seeds for future growth by increasing your marketing efforts.
Become More Targeted
Notice I said increase your marketing “efforts.” I didn’t say dollars. My entire marketing philosophy is about creating targeted efforts, and during a down time that targeted effort becomes even more imperative.
You need to make sure that each and every dollar you spend has an impact on your sales…and ultimately your bottom line. So now is a great time to re-examine the way you are spending your marketing dollars. If you need to cut, consider cutting the low-return marketing items you do. These are often your “habit buys.” Things like this might cost $25, $50, or even $100 per time and probably don’t really give you any return. If you are going to cut something…there’s the place to start.
Now that you have trimmed some fat by eliminating ads that don’t show returns, take that money and increase your efforts that DO generate success. By simply doing this one strategy, you will be pleasantly surprised by the return.
Create A Target List
Each business is different. But when you are re-evaluating your marketing efforts, I encourage folks to create a target list of customers they want to have. If you can’t name specific potential customers, then create the image of what your ideal customer would look like. Doing so will help you to focus your efforts. What would it take to make this person or business (and lots more like them) a customer of mine? Once you have a clear vision of the type of person you want—and what it would take to get them—attack that plan!
Re-Visit Dormant Accounts
When you are looking at ways to create new customers, you also need to consider ways to get old customers back! Sometimes they have stopped doing business with your for legitimate reasons…but sometimes not. Now is a great time to reach out an olive branch to those customers that used to don your doorstep regularly…and see if you can get them to return!
See the People
One of my early sales managers used to say that if you wanted to increase your sales, you needed to “see the people.” With all of the advertising methods, venues, and options, we can all fall into the trap of waiting for customers to come to us. It’s an easy trap to fall into, so don’t beat yourself up if you do it. But one of the best ways to jump start your revenue is to simply go out and “see the people!”
Business is often built on relationships. And you can certainly strengthen these business relationships by showing your customers that you appreciate them. My advice would be to make these visits a “thank you” visit. Obviously you want to use these opportunities to sell yourself and your business. But you will be surprised by how much business will come to you when you show your customers that you care about them…and their business.
There’s no doubt about it. Tough economic times are tough on small businesses. But by re-evaluating your marketing efforts, and making sure your efforts are more targeted, you can survive and position yourself for future growth!
Sunday, February 8, 2009
Great Article
It's been a long time since I have posted here...but here is a fantastic article I just read. If you are considering what to do with your marketing dollars this year...consider this!
Thursday, January 24, 2008
Going Green!
Going Green
Making your promotions responsible
Everyone in business wants to be fiscally responsible...but is your business being responsible to the environment? Well that is all the rage in the promotional industry as well! All over the nation, suppliers are introducing recyclable and re-usable products in order to be better stewards of the environment.
So what does that mean to you?
It means that you can brand your company by utilizing these tools...and show your community how you are focusing on the global environment! There are more and more products for you to build a campaign around. And it doesn't have to break the bank. There is an increasing selection of mugs, totebags, letter openers, and so much more so that you can build an entire campaign around being "eco-friendly!"
Want more information on how to utilize this to better promote your business? Please contact us and we can help you build a campaign that will also make your company "green" as well!
Eco-Friendly Ideas
Creating the campaign
Okay...so you are interested in doing your part by promoting eco-friendly ideas, but you want ideas that will make your competitors "green" with envy. Here's an idea!
Send your customers EcoSmart Stationary to get your brand on their desks. Insert information about how your company is working to preserve the planet. You'll let your customers know they can feel good about doing business with an environmentally friendly partner and increase brand awareness at the same time!
Eco 100% Recycled Owl Deluxe Padfolio
Made from 100% post-consumer recycled material (product label on inside back pocket affirms this claim). Zippered closure. Interior organizer with gusseted pocket, zippered pocket, four elastic pen loops, velcro pocket, and five business card holders. Includes 8.5"x11" Owl writing tablet consisting of 100% post-consumer waste recycled sheets of lined paper. Each page features the Owl logo watermark.
Need more eco-friendly ideas? Please contact us at (740) 622-7429. You can also simply send us an email to set up an apointment at kirby@hassemanmarketing.com. And as always we are available online at www.hassemanmarketing.com
Making your promotions responsible
Everyone in business wants to be fiscally responsible...but is your business being responsible to the environment? Well that is all the rage in the promotional industry as well! All over the nation, suppliers are introducing recyclable and re-usable products in order to be better stewards of the environment.
So what does that mean to you?
It means that you can brand your company by utilizing these tools...and show your community how you are focusing on the global environment! There are more and more products for you to build a campaign around. And it doesn't have to break the bank. There is an increasing selection of mugs, totebags, letter openers, and so much more so that you can build an entire campaign around being "eco-friendly!"
Want more information on how to utilize this to better promote your business? Please contact us and we can help you build a campaign that will also make your company "green" as well!
Eco-Friendly Ideas
Creating the campaign
Okay...so you are interested in doing your part by promoting eco-friendly ideas, but you want ideas that will make your competitors "green" with envy. Here's an idea!
Send your customers EcoSmart Stationary to get your brand on their desks. Insert information about how your company is working to preserve the planet. You'll let your customers know they can feel good about doing business with an environmentally friendly partner and increase brand awareness at the same time!
Eco 100% Recycled Owl Deluxe Padfolio
Made from 100% post-consumer recycled material (product label on inside back pocket affirms this claim). Zippered closure. Interior organizer with gusseted pocket, zippered pocket, four elastic pen loops, velcro pocket, and five business card holders. Includes 8.5"x11" Owl writing tablet consisting of 100% post-consumer waste recycled sheets of lined paper. Each page features the Owl logo watermark.
Need more eco-friendly ideas? Please contact us at (740) 622-7429. You can also simply send us an email to set up an apointment at kirby@hassemanmarketing.com. And as always we are available online at www.hassemanmarketing.com
Trade Show Buzz
Making the big event bigger!
With 2008 right around the corner, I thought it would be a good time to talk about marketing for the year! Each year, many companies spend thousands of dollars on trade show events (or events like them) in order to grow their business. But how can you make sure you are making the big splash that you intend to? It's about driving customer behavior...so let's talk about some tips to put you behind the wheel!
Creating Pre-Show Buzz
Make them look for you!
Many trade show will provide you with a list of registered attendees for the upcoming show. In order to create pre-show buzz, why not send out a promotional tool that they can use at the show?
Most trade show attendees will need a lanyard or a bag...so consider sending them one of them in advance to get them excited. In addition, you will beat the competition who wants to hand them out at the show!
At The Booth!
Getting the attention...and keeping it!
Everyone is at the show wanting to get the attention of the customer...how do you stand out? There are many strategies for getting attention at the show and because each audience is different, I would encourage you to meet with me to discuss individual shows...but here are a few things that might help!
A) Give something useful. Customers will be inundated with information the day of the show. Make sure you have something that is going to get pulled from the bottom of the bag!
B) Fun and Flashy! Humans are simple creatures! If it lights up and blinks...it stops us! And if you just want something fun to play with...check out this Jellyfish Yo-Yo! These are fun at the show (and yes people play with them back at the office!).
C) Mulitple Ways to Tell the Story! Obviously you want to have great literature and a great hand out. In addition, add a large display with a marketing video to help grab attention...and tell the story when you are busy with other prospects!
D) Look The Part! Make sure you and your staff have a nice looking embroidered shirt to show you are a part of the team. Bright colors often make you easy to spot!
After Show Follow up!
Making sure you close the deal!
So you've had a great show...and now you have the list of prospects to follow up with. Why not send a mailer with a memorable piece to remind them why they were impressed?
But make sure you have a plan for the entire event to make sure you are company that has left an impression!
If you need more trade show ideas...please contact me for a meeting!
Making the big event bigger!
With 2008 right around the corner, I thought it would be a good time to talk about marketing for the year! Each year, many companies spend thousands of dollars on trade show events (or events like them) in order to grow their business. But how can you make sure you are making the big splash that you intend to? It's about driving customer behavior...so let's talk about some tips to put you behind the wheel!
Creating Pre-Show Buzz
Make them look for you!
Many trade show will provide you with a list of registered attendees for the upcoming show. In order to create pre-show buzz, why not send out a promotional tool that they can use at the show?
Most trade show attendees will need a lanyard or a bag...so consider sending them one of them in advance to get them excited. In addition, you will beat the competition who wants to hand them out at the show!
At The Booth!
Getting the attention...and keeping it!
Everyone is at the show wanting to get the attention of the customer...how do you stand out? There are many strategies for getting attention at the show and because each audience is different, I would encourage you to meet with me to discuss individual shows...but here are a few things that might help!
A) Give something useful. Customers will be inundated with information the day of the show. Make sure you have something that is going to get pulled from the bottom of the bag!
B) Fun and Flashy! Humans are simple creatures! If it lights up and blinks...it stops us! And if you just want something fun to play with...check out this Jellyfish Yo-Yo! These are fun at the show (and yes people play with them back at the office!).
C) Mulitple Ways to Tell the Story! Obviously you want to have great literature and a great hand out. In addition, add a large display with a marketing video to help grab attention...and tell the story when you are busy with other prospects!
D) Look The Part! Make sure you and your staff have a nice looking embroidered shirt to show you are a part of the team. Bright colors often make you easy to spot!
After Show Follow up!
Making sure you close the deal!
So you've had a great show...and now you have the list of prospects to follow up with. Why not send a mailer with a memorable piece to remind them why they were impressed?
But make sure you have a plan for the entire event to make sure you are company that has left an impression!
If you need more trade show ideas...please contact me for a meeting!
Thursday, January 10, 2008
Inside Coshocton, January 2008
It has truly been a while since we have posted the show. But by popular demand it is back! Take a look!
Wednesday, August 22, 2007
Inside Coshocton...July
It appears I have been a bit tardy on my posting of Inside Coshocton on this blog! Here is July!
Subscribe to:
Posts (Atom)