Entrepreneurs' Primer on Marketing, Advertising, and
Selling

By: Terry Collison, Blue Rock Capital

 

 
   

Advertising ABCs

10 ways that Advertising issues play a pivotal role in your venture

Marketing What?

Your Promotional "cash flow"

A Model of the Selling Process When the "Product" is You

Selling (and Silence)

A Model of the Real Selling Process – NO Ultimately Means YES

10 Marketing, Selling, and Advertising Tips

The First Rule of Advertising for Entrepreneurs

 

  

 
 

Obviously, a paper of this size makes no claim at being a comprehensive examination of the issues. Rather, it is intended to get you thinking about your own situation and to guide you to the next steps that may be helpful.

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Here is a summary:

 

  

 
 

① Marketing is positioning. 

② Advertising is communicating. 

③ Selling is motivating.

④ Any activity that isn't targeted is likely to be wasted.

⑤ Each of the three functions deserves to have its own activity budget and a specific dollar budget.

⑥ Each function should be measured on a current ongoing basis (as well as annually and cross-functionally) in order to compare budgeted amounts versus actual amounts versus effectiveness.

⑦ In each function, changes in strategy (the big concepts) and in tactics (the implementation) should be based on what the market is teaching and not primarily on opportunities that just "pop up."

⑧ On the other hand, opportunities that just pop up are not to be ignored – if they fit.

⑨ There are no guarantees that your in-place marketing, advertising, and selling programs will work. (Before getting discouraged, bear in mind that this same rule applies equally to your competition.) 

  

 
 

⑩ Once you are convinced that your market opportunity is bona fide and that your product or service offering is competitively attractive in that market, plan and run these three processes to find situations where the product or service offering from your company "fits" with specific real customer prospects in your targeted market.

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Since you can't know in advance where the right fit will be, in most cases the right strategy is always to be expanding your contact with the marketplace. And to "stick with it." Slow and steady ongoing activity is the key. Crash campaigns, on-again/off-again efforts, and crisis programs are generally not very helpful.

  

 
   

Next Chapter:

 

  
   

The First Rule of Advertising for Entrepreneurs