What’s in a Name? The Value of Sponsorship as a Branding and Marketing Opportunity

In the world of marketing, you’re essentially always on the lookout for new and innovative opportunities to raise awareness about the brand that you represent. It isn’t just about getting the word out about a new product or service; it’s also about reminding people that you’re there, that you’ve always been there, and that you’re always going to be there. In an era where marketers strive to stretch the value of each dollar as far as it will go, one often overlooked opportunity may just generate the types of results you’re after: sponsorship. Sponsorship and Brand Awareness: The Stats Even if you don’t necessarily see sponsorship of charities, non-profits, or other local organizations as a valuable addition to your marketing arsenal, it’s clear that somebody does. According to a study conducted by IEG Sponsorship Report, sponsorship was a $2 billion dollar enterprise in 2016 and is expected to increase by roughly 3.7 percent over the course of the next year. A report generated by the Edelman Trust Barometer indicated that sponsorship even goes far beyond marketing impact. Eighty percent of consumers around the world agreed that a business has a duty to play a very key role in addressing modern issues. It even plays an important role in your own company culture. Fifty-one percent of employees surveyed said that they didn’t want to work for a company that didn’t have strong societal and environmental commitments, and almost seventy-five percent said that they liked their jobs more when they were given the type of opportunity to make a positive impact that sponsorship affords. Sponsorship Best Practices If you do decide to go ahead with sponsorship as a new brand and marketing opportunity, there are a few key things you’ll want to keep in mind. For starters, do your research carefully. Always make sure that you’re aligning with an organization that meshes with your existing culture and values. Do as much deep digging as you possibly can, as sponsorship creates something of a symbiotic relationship between two entities. A scandal at one will more than likely affect the other, so you’ll want to make sure that there are no skeletons hiding in the closet before you start spending your money. You’ll also want to make an effort to isolate the impact of your sponsorships from the rest of your marketing activities, as only then will you be able to fully understand just what role it is playing in your larger campaign. MarketStrategies.com says that only half of marketers actually do this, which is a mistake. Though you’re doing something for a good cause first and recognition second, it still needs to be measured for maximum effectiveness – the same as anything else. These are just a few reasons sponsorship is such a valuable branding and marketing opportunity, particularly for companies operating in the small and medium-sized business space. Not only does it give you a chance to raise awareness in a powerful way, but it also allows for something even more important – you get to give back to the community that you are an active part of.

3 Emotions That Go Along with Operating Your Own Business

Many emotions go along with owning your own company. From the excitement of opening your doors the first time to dealing with chaos in the office, running your business will be enjoyable sometimes and cause much frustration other times. The Main Three It seems that you can boil business emotions down to three that most business owners share or have experienced at one time in their business journey. They are: 1. Fear Do you ever find yourself being scared that you might actually succeed? Fear is one of the most common emotions that successful business owners feel when first starting out. Being afraid of success can hold you back if you don’t properly deal with it. Operating any company requires risk, and it is because you are human that risk likely scares you. By talking with people who have taken a risk before, you will gain a better perspective on how to balance risk with common sense. Overcome fear and risk by having an open mind, and be willing to be a lifelong learner. The more you learn, the more you know in regards to appropriately handling different issues in business. 2. Euphoria Another common emotion tied in with running your own business is euphoria. If you have any success at all, your brain will create endorphin’s and cause you to feel extreme pleasure. And while euphoria is a great motivator to help you continue your success, you must remember that running a successful company requires a daily effort. Just because all of your clients are satisfied on one day does not mean they will all be satisfied the next. Be prepared to make changes as needed. 3. Frustration Frustration can be minimized by taking time out of each day to focus on yourself. If you’re not happy, neither will your customers. If you find yourself frustrated, take a step back and give yourself a moment to clear your mind. Clarity is essential to overcoming the frustration that is tied in with chaos and change. Dealing with the emotions that go along with operating your own business is key to keeping your company afloat. By following the tips mentioned above, you’ll be much more likely to run a business that brings you much success and joy.

A Creative Life Improves Creative Buying Processes

There are more than a few steps involved in the buying process. When you integrate creativity into this process, this can lead to amazing business opportunities. Incorporating creativity into the buying process means human experience should play a core role. Businesses prefer to partner with businesses they can relate to; ones they have a common goal with. This is why the human experience should always be shared when creating or redefining a company’s brand. The more relation a company can share with a distributor or manufacturer, the stronger the business-to-business and business-to-customer relationships will be. So, how does a business owner go about integrating creativity into his or her lifestyle to improve the creative buying process? Fortunately, there are many ways company owners can embody creativity into their everyday life. Here is a close look at three of them. 1: Go on vacations When a business owner does not have time to go on a vacation, this probably means he or she is working too hard. Operating a successful business involves all aspects of the company being conducted in a healthy manner, including its employees and owner(s). Going on a vacation allows the owner to indulge in his or her passions, which increases endorphin’s and serotonin and leads to the enhancement of creativity in the mind. Business owners often find their most genius ideas come to them while away from work. 2: Take chances Business owners don’t become successful out of fear. Instead, they are willing to take risks. You’ll never know if a creative idea is going to work unless you try it. If you’re fearful about trying out a new creative idea, you can always turn to the support of your friends, family, coworkers, and any people you consider mentors. If you steer clear of taking chances, this is a sure way to kill the creativity in your life, which means creative buying processes will be at an extreme minimum. 3: Share your experience The number one way to blend creativity into your lifestyle as a business owner is to share your experience with others who are striving to achieve the same goals you are. In doing this, you will receive valuable feedback that can help you steer clear of costly mistakes while at the same time learn about successful creative buying processes others are using that you can take advantage of. Make sure you keep in mind the three tips mentioned above as you continue on your journey as a business owner. Creative buying processes are an essential part of managing any type of business, and as these processes improve, you will notice a substantial change in your capability to expand the services you offer to a wider range of customers because you will have more time and energy to focus on meeting your customers’ needs.

The Power of A/B Testing: The Difference Small Changes Can Make for Your Marketing

Marketing is a decision-based world. At any given moment, you’ve got a variety of options floating in front of you. Which of those two headlines should you use in your next e-mail? Which of those three font choices looks the best on your print flyer? Which of the three graphics will ultimately reflect your brand in the best way? If you’re wondering how small changes will affect the greater success of your marketing campaign in the eyes of your users, why don’t you just ask them? That, in a nutshell, is what A/B testing is all about. What Is A/B Testing? Sometimes referred to as split testing, A/B testing involves comparing two or more versions of something to see which one is more effective. In marketing terms, it’s easy to see the value of this approach almost immediately. Do you have two similar, yet different, versions of an e-mail subject line and are wondering which one might be the most effective? Get an e-mail list of 100 of your average customers together and try both at the same time. Send one version to a group of fifty customers and the second version to the other fifty. See which one performed better (and why) before making the decision of which one to use for your whole campaign. A/B Testing Statistics Don’t just take our word for it – there is a wide range of statistics that prove just how valuable A/B testing can be. According to a study conducted by Steelhouse, A/B testing is THE most used method for improving conversion rates in marketing campaigns. It isn’t just marketing companies that are getting in on the action, either. During his re-election campaign, President Obama was able to raise an additional $60 million dollars through a carefully designed, calculated A/B testing regimen. The important thing to understand is that you can (and should) use an A/B test on every portion of your campaign before you bring it in front of the eyes of the widest possible audience. Take your website, for example. As the “welcome mat” of your virtual identity, A/B testing your website is the perfect way to see which of those two designs you’re thinking of is better. This is incredibly common – in fact, Pardot research revealed that Google ran more than 7,000 A/B tests on its own interface in 2011 alone. But again: it doesn’t actually matter what you’re A/B testing, just that you are. In print marketing, this concept can be just as effective. The key is that you’re not taking anything for granted. You’re getting your collateral in front of the eyes of real people, seeing how they respond, and then using that as the basis of actionable decisions that you make moving forward. In the world of marketing, it’s important to remember the old saying of “you can only make one first impression, so you’d better be sure that you’re making a good one.” Launching a campaign before it’s ready means you can potentially shoot yourself in the foot before you’ve even had a chance to begin. Investing in A/B testing is one way to avoid exactly that type of problem for now and for all time.

Content Marketing Is More Powerful Than Ever

At its core, content marketing is the idea that by creating and distributing high-quality content that is relevant to your products, your services or your brand, you can more easily attract and even retain people who are interested in what you’re selling. If you sell stereo equipment and write a quality blog post about what to look for in a new home theater, you’re more likely to attract new customers by combining that blog with the sales flyer you sent them in the mail. Put Information in a Format That People Want To Embrace When people think of content marketing, they usually think of text. While this is true, it’s important not to neglect the visual element. Case in point: pairing your marketing message up with the right visual image can increase the amount of information a reader will retain dramatically. According to one study, people are only 10% likely to remember information they hear 72 hours after they hear it. If that same information is conveyed in a piece of effective, content marketing with a relevant, attention-grabbing image, that number increases to an incredible 65%! Color Really Does Mean a Lot Continuing a discussion about the more visual side of content marketing, one of the most important elements that prove these types of marketing collateral can be more effective than ever all comes down to a single word: color. Another study found that if you’re able to include colored visuals in your content marketing (or any marketing for that matter), you instantly increase someone’s willingness to read and experience that content by an astounding 80%. People Love Learning Consider the fact that content marketing can be a lot more than just “marketing” – it can be an educational tool, as well. Take infographics, for example – especially since the advent of social media, infographics with rich, striking visuals have quickly proven to be powerful ways to get your message across. In fact, according to one recent study, an infographic is likely to be shared three TIMES more than any other piece of content on social media. When combined with print marketing, you can help establish your brand as an authority in your field to a much larger audience than imagined. Content Marketing Creates a Higher Return on Investment If you needed additional reasons to believe that content marketing is stronger than ever, look no further than one of the most important indicators: ROI. Studies have shown that not only does content marketing cost roughly 60% less than traditional outbound marketing like digital ads, but it can also potentially generate THREE TIMES as many leads! Stats like these go a long way towards proving that content marketing is an excellent way to take your marketing message and present it to your target audience in a way that they’re more than ready to receive. With the right piece of properly designed collateral, you accomplish everything from increasing awareness of your brand to establishing yourself as the real authority you are….. and everything in between. When you consider that 200 million people now use ad blockers as they browse the internet, high-quality, properly designed content is about to become even more important as time goes on.

How to Court the Younger Generation: Creating the Future of Your Business by Marketing to Millennials Today

In the world of marketing, there’s a natural instinct to go after certain segments of the population when marketing because those are the ones that spend the most money. That may be good for short-term gains, but any business worth its salt will always be thinking about the future. And regardless of the industry, the future can be summed up in one beautiful little word: millennials. Commonly defined as anyone between the ages of 18 and 34, or those born in 1982 and up, millennials outnumber baby boomers by roughly a half a million people. They’re the largest generation in the country right now and, make no mistake, the one that the very future of your business will be based on. If you want to court the younger generation and create a solid future for your business, you’ll need to keep a few key things in mind. Treat Them as Equals No consumers like to be talked down to or told what to do – but this is especially true with the younger generation. Millennials can absolutely sense “marketing speak,” so don’t think that is going to buy you a whole new generation of customers, either. According to one study conducted by Kissmetrics, 89% of millennial buyers trust recommendations from friends and family members MORE than any claim that a brand could make. Use the same tactics that you’ve been using to win over older generations, but reconfigured for a younger audience. You should still be putting helpful, relevant content that appeals to the people you’re trying to attract out into the world, but keep in mind that what is relevant to a 20-year-old isn’t necessarily the same thing that’s relevant to a 65-year-old. Buyer personas are going to be hugely valuable in this regard to help guarantee your eye is always “on the prize.” You’re a Combination Marketer Now Whether You Like It Or Not Marketing to specific groups of people has always required putting your efforts to where those people actually are, and millennials are no different. Millennials are nostalgic about direct mail and appreciate personalized invitations and advertising they can hold. Likewise, according to a study conducted by Nielsen, more than 85% of millennials own a smartphone. That means your digital marketing needs to marry with your print marketing for the best way to meet your audience where they’re at. When used together, print and digital marketing successfully target that coveted younger generation. Think digital with a smartphone-based loyalty rewards program, and connect that program to your direct mail campaign. Social media is another obvious example. Tie your social media efforts with posters, envelopes, and more to create the best of both worlds. At the end of the day, it’s important to remember that no business – regardless of what it is – is time-proof. If you focus all of your efforts on one particular age range or demographic, you run the risk of accidentally making yourself irrelevant when that group invariably ages out of the product or service you’re offering.

Sometimes Fresh Eyes Brings a Memorable Camel

We often say that children look at the world through fresh eyes. Spending time with a child can give you a new perspective on life and how you view the world. While experience is an excellent teacher, fresh eyes can see the tried and true in a way that you may not have considered before. How can you adapt the fresh eyes concept into your business? Marketing is successful when it gets prospects and customers to sit up and take notice of your service, brand or product. Some of the best commercials are the ones that make us laugh, cry, or even cringe. The problem is that sometimes marketers rely too much on old ideas and the view of experienced sellers and managers instead of looking for fresh eyes on a campaign. A great marketing campaign gives the audience an emotional connection with the company. Emotions give advertising a memory hook; they get remembered. Hump Day Remember the “Hump Day” camel commercials that were on TV about a year ago? Do you remember who they were advertising? If you don’t remember, they were advertising GEICO. GEICO specializes in goofy, funny commercials that are easy to remember due to their tone. Insurance is essentially a tedious business, so getting you to remember advertisements and brand names associated with them takes a memory hook. For GEICO, the gecko is one hook that most Americans can recognize and associate with the company. However, if they overused that hook, audiences would get tired of him. Instead, they come up with quirky commercials and throw in a camel to keep you focused and interested in their brand. Seeing Your Company with Fresh Eyes Since you cannot see your own company through fresh eyes, it takes some testing to find out how new people respond to your campaigns. Your assumptions about who is interested in your products and why they are interested may be out of date. Periodic testing of your ideas is crucial to keeping your current customers and finding new ones. Before you run your marketing campaign, test your assumptions on real people to see how they respond. Real people are the target market you are shooting for, therefore if your tests tell you that you won’t get the results you want, you can save yourself a lot of money. Keep tweaking and testing your campaign with real people until you find the right message, image, and concept that will get the response you want. What made the “Hump Day” commercials so funny? They were silly, harmless, and could never happen in the real world. Find a Way to Shock Your Audience Shock your audience with unexpected humor, meaning, or entertainment when you market. Find something that will resonate with them and use it to grab their attention. Obviously, any type of shock will only work for so long because it loses its effect after a time. When was the last time you saw a “Hump Day” commercial, anyway?