When
You Do It Yourself, You Do It At Your Own Risk
By
David P. Kowal, APR
We
live in a do-it-yourself world. Whether it's drawing up a
will, buying stocks or selling a house, we've become
increasingly independent - and increasingly reluctant to pay
for professional services.
The
evolution of desktop publishing has helped create
do-it-yourself marketing. Armed with personal computers and
the latest software, self-made marketeers everywhere are
creating their own logos, newsletters, brochures and web
sites.
Many
of these self-made marketeers are getting exactly what they
pay for. It's been said that the person who acts as his own
lawyer has a fool for a client. The same can be said about
the entrepreneur who takes on the responsibility of
marketing along with every other business function, from
sweeping the floors to keeping the
books.
For
some, though, do-it-yourself marketing is a necessity.
Unless a wealthy aunt or uncle is providing the financing,
most start-ups don't have the money to hire professional
help. And, while marketing may not be as easy as it appears
to be to the non-initiated, it is at least less risky than
the do-it-yourself lobotomy or the do-it-yourself tax
return.
My
advice, though, for those who would do it themselves is to
pick your shots. In general, the marketing tactics that
bring the entrepreneur closest to the client are those that
are most appropriate to the do-it-yourselfer. The
entrepreneur can and should, for example, do his or her own
networking, but should leave logo design to the
experts.
Many
of the do-it-yourself tactics described here are ideal for
the small company with no marketing budget. Small companies
often add their customers one at a time. These tactics are
less practical for larger companies. One-to-one marketing is
impractical for a company with hundreds or thousands of
customers.
The
following are a few areas that the do-it-yourself marketeer
can stick their fingers into without running too great a
risk of losing a hand:
Seek
referrals. When's the last time you asked a customer
for a referral? If your customers are happy with your
product or service, chances are they know someone else who
will be, too. Customers who are referred to you typically
will have a higher retention rate and are, therefore, likely
to be more profitable than those you pick up on your
own.
Develop
an Advisory Board. To gain referrals consistently,
you will need to develop customers who are advocates for
your business. One way to develop advocates is to invite
some of your customers to serve on an Advisory Board. Their
input can provide you with valuable market research, keep
you aware of trends in your industry and help you to develop
long-lasting customer
relationships.
Present
a seminar. If promoted properly, a seminar can put
you in front of a room full of potential customers. Contact
your local Chamber of Commerce and other professional
associations and let them know you'd like to present a
seminar. Most organizations are always looking for qualified
speakers.
Market
research. Even many mid-sized companies are
reluctant to spend money on market research. Managers and
entrepreneurs think they have their fingers on the pulse of
their customers, yet they often fail to notice when the
heart stops beating. Do-it-yourself market research is
better than no research at all.
Develop
an objective customer survey to find out what your customers
really think of you. Seek the input of your advisory board
to ensure that there are no leading questions. Repeat the
same survey a year later and compare the
results.
Be
forewarned that do-it-yourself market research can be
dangerous. If your customers know you are doing the asking,
they are unlikely to give you straight
answers.
Media
buying. An advertising agency's expertise is usually
essential in developing a media strategy, but you may be
able to save money by making your own media
buys.
Often,
advertising agencies have leverage because of the volume of
advertising they buy. A skilled media buyer can negotiate a
good price for your advertising. However, advertising
agencies typically receive a 15% "agency discount" for their
efforts. Some media will provide the discount to companies
that do their own media buying.
Publicity.
A thorough, strategically planned public relations campaign
is time consuming and requires a great deal of planning.
Leave it to the experts. But your company may save money by
preparing its own personnel announcements and other basic
press releases.
These
ideas should save the do-it-yourselfer enough money to be
able to afford to hire professional help for other marketing
needs.
David P. Kowal is President of Kowal Communications, Inc. of Northboro, Mass. He can be reached at kowal@kowal.com.
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