Enterprise Dispatch Blog

WRIGHT COUNTY, MN - The Wright County Economic Development Partnership hosted its monthly noon luncheon seminar at the River Inn & Conference Center on May 13.
The theme of the event, “Marketing to Grow your Business” was highlighted by Chris Schultz of Herald Journal Publishing, who talked about trends in marketing and how to grow a business during these challenging times.
His talk was filled with information about the business of marketing. For instance, the marketing world today is more fragmented than it ever has been.
There are more than 45 different tools that can be used to advertise a business or organization. More than ever before it is important to know the designated marketing area, to know who target customers are, and the best ways to reach them.
Some interesting facts shared included small town retail is doing 25 to 30 percent better during these changing economic times. Apparently, the area customers are looking into the advantages of shopping locally.
Also, during these times the good businesses are doing well, even in poorly performing industries. Now, as always, it is important to give good customer service.
Another interesting fact is that there has been a 3.6 interest increase in newspaper advertising in the last year.
The total coverage of all the television stations and radio stations in the Twin Cities does not equal that of the Star Tribune.
Then why, you may ask, are some of the newspapers in trouble? The answer has to do with the acquisition of these newspapers by public equity corporations, which raised millions to purchase them and then ended up with large mortgages that could not be serviced. The smaller, privately owned newspapers are doing well.
Of course, even with all the modern web-based marketing tools and other advertising opportunities, the old marketing basics still work.
Consistency, frequency, and reach should be businesses main considerations when devising a marketing strategy. Also, “three tools, three times” is an important axiom to remember. Of course, knowing how to make your new contacts or business leads turn into conversions, or new customers, is always important.
Schultz also mentioned 10 trends in the marketing world. They include
1) the old marketing basics still work,
2) online advertising continues to grow,
3) online directories continue to grow,
4) interest in going green continues,
5) online content continues to grow,
6) social responsibility is honored more than ever,
7) mobil marketing (e.g. Twitter) is growing,
content management systems need to be integrated with regular business model,
9) traditional marketing axioms continue to have relevance, and
10) information overload will become even more of a reality.
For more information regarding Wright County Economic Development Partnership events, contact Noel LaBine at (763) 477-3086 or register online at www.wrightpartnership.org.