Monday Links: Season's Greetings

Posted by: John Tozzi on December 7, 2009

A good run-down of the basics of commercial lending from Becky McCray at Small Biz Survival.

Do your investors send you a holiday card? Scott Austin looks at one firm’s whimsy at WSJ’s VC Dispatch.

Mashable’s Adam Ostrow offers advice on picking smart phones for small business owners.

Google and Twitter court local businesses, Liz Gannes writes at GigaOm.

CQ’s Anna Palmer looks at the National Federation of Independent Business’s approach to health reform lobbying.

Reader Comments

Domenick Celentano

December 8, 2009 9:32 AM

Although Twitter gets a lot of press, SMS, or Text Based Marketing, which fall under the general umbrella of Mobile Marketing, is where much of the activity is focused in the retail sector. Twitter certainly has advantages in these partnerships in so far as their desire to start showing up in searches. But they are not necessarily the only or most effective tool for customer engagement.

Currently the statistics are 20% or so of phones are smart phones, so the vast majority of users can only effectively uses SMS services. SMS marketing can effectively execute segmented marketing strategies inherently through the Opt In feature of these services. I use the term Hierarchal Engagement to effectively paint the picture of the effectiveness of SMS as a tactical tool. The subject is too extensive to be part of this comment… so a future post on SMS can address how easily this is accomplished. In marketing, Engagement is where it is!

Once you engage a customer in your program it is unlikely they will opt in for a competitor’s offers… essentially how many text messages does anyone want to get and manage? So” owning” the customer so to speak is a huge value.

Most of the services are very low cost and capture information from your customers into various groups, allowing even the most novice of retailers to participate in targeted marketing in ways to compete with their peers and larger competitors.

From a Demographic and Life Style segment perspective, the groups under 30 are not really Twitter users… they don’t see the benefit since they are so text message based. So a business catering to the sub 30 group will find Twitter very ineffective. Just my own polling of my students, less than 10% use Twitter.

Need some details? Go to www.uTipu.com and look for the Smart Reply community. They are one of many providers, although not applicable for smaller businesses. They have created numerous mini-webinars that illustrate just how powerful and effective this is. Albeit these webinars are attempting to generate more customers, they have a very high educational component and I have used several of them in my retail marketing classes.

So maybe this blog might consider a post about SMS Mobile Marketing as a very effective tool for small businesses.
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Domenick Celentano
Kean University
College of Business & Public Administration
Marketing Department
www.domenickcelentano.com
http://kean.domenickcelentano.com/

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What's it like to run your own company today? Entrepreneurs face multiple hurdles new and old, from raising capital and managing employees to keeping up with technology and competing in a global marketplace. In this blog, the Small Business channel's John Tozzi and Nick Leiber discuss the news, trends, and ideas that matter to small business owners. Follow them on Twitter @newentrepreneur.

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