boiMAG.com "Ask Chad" Business Marketing Q&A Article
Dear Chad, I find myself not knowing what direction to go in. Should I wait and see what’s going to happen next or invest in advertising and marketing at this volatile time? I’m wondering how to use my financial resources wisely.
From - Thomas
Hello Thomas! There are several grants and incentives outside of the PPP for businesses because of the impact of covid. I encourage you to see what your business might qualify for. Each state is different as to what is available, but almost all states are offering some type of additional relief. These funds can then be put back into your business to ensure you stay afloat during these uncertain times. It is also very important to keep your business in front of potential customers/clients especially now. Just be cognizant of how much you are allocating towards potential marketing and or advertising. I would suggest cutting what you would normally spend on monthly marketing relative to where you are from a loss standpoint. If you are in the red from LY then look at what expenses you know are a must in the next 90 days to ensure anything you do above and beyond these set expenses will be covered no matter what. Then work backwards to ensure you don’t put yourself in a situation that will cause more harm than good. Be strategic and do your research on the type of advertising you are interested in pursing. If you spend too little because you are being over consecrative then you may not get any return on your investment.
Dear Chad, What happens when your target market advertising doesn’t attract what’s expected and a whole other demographic comes in? I market to an upscale, mostly white audience, but have been supported more by the Latin community. Should I switch gears and go with what’s working?
From - Elizabeth
Hello Elizabeth! We all have what we think is our primary target market. Sometimes we box ourselves in to this because of how we perceive our business when it is really only others perception that matters. Keep in mind that just because at one point your target audience seemed to have a certain pattern it does not at all mean that this will be the ongoing case. Look at the buying patterns to see if this is just a potential fluke or if there is a shift in your industry. Open yourself up to other advertising and marketing mediums to reach your potential new demographic. Every business must adapt and change to ensure ongoing success. Just make your you have a realistic pulse on what is driving your business for future success.
Dear Chad, I own a fast food restaurant, is it important for the business to have a QR code? If so, where should I direct people to that use the code? Should it be to our website, to the menu, or somewhere else?
Hello Joe! QR codes have become an intrigual part of marketing especially in the restaurant industry this past year and a half because of Covid. Customers love being able to pull-up a menu from their phone, our society is all about convenience. If you have strong branding and if you have worked towards creating a visually stunning website that is userfriendly that showcases your menu and all you have to offer, I would utilize this functionality wherever and whenever you can. Posters, brochures and beyond. It allows for your customer to have a direct connect to your restaurant. This also increases your chances to keep your pricing and menu items upto-date without having to spend time and money designing and printing new menu updates.
Chad Brittian is an experienced industry professional and CEO of NVS Design, Inc. To consult Chad for any of your business needs, call 877-578-2045 (Ext. 700) or email him at chad@ nvsdesigns.com. www.2nvs.com
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