Small Business Media Advertising and Marketing Strategies

One shouldn't rush out and purchase advertisement spots and air time as soon as they open their doors without fist thinking about who their target audience (i.e. target market) is and how best to reach them (i.e. marketing channels).  Knowing what you plan on selling and whom you plan on selling it can make a big difference in small business success; actually its one of the primary reasons for success or failure. Thinking about what is truly important to you and your business before creating a marketing strategy and buying media can be helpful in creating a sense of direction. 

Media Buying:

Buying media will take a little informal (or formal as the case sometimes turns out) research before putting down the dollars $$$. Its nearly always wise to expend the effort to read about media planning and buying to gain a basic grasp of these concepts. The more familiar you are of the different options available and how they work, the better choices you are likely to make when finally looking at your own budget. I read 'A Guide to Media Planning and Buying in 2021' by Media Tool that offers some pretty solid advice on media buying (Its not an endorsement or lack of endorsement...its informational oriented.). (Media Tool, 2021)

Your target audience (i.e. the primary customer you will be serving) will determine your ultimate marketing channel (s). For example, if you own a small fishing lure manufacturer in the Upper Peninsula of Michigan you might take a look at demographics of visitors in the region and the media channels other local businesses are using to reach them (i.e. local paper, local news, organization bulletins, Facebook, widow flyer, etc..). Pay attention to where your seeing advertisements for similar products selling in the same market as yours. Chances are local visitors, their activities, money spent, your business offerings, and where to reach customers will have some similarities that will give you a hint at the best channels to advertise. 

Create a Marketing Strategy:

Once you understand your target market and the most likely media channels to attract them you would come up with a basic marketing strategy. Sometimes those strategies are simple such as posting items in your shop window or advertising in your local paper (In Delta County they use Escanaba Daily Press and U.P. Action News). Take a good look at your budget, the cost of using the media channel, and the potential effectiveness of your dollars spent. Remember that it is your money so don't waste it by picking the wrong type of advertising. 💸💸 People will try and sell you everything! 😤 (You can also calculate Return on Investment ROI of channels and most advertising mediums will have some basic numbers for you to use. You can learn more about ROI in an article on trueNorth's website entitled, 'ROI Calculator: How to Calculate Your Marketing ROI')

Marketing is essential to the life of a small business and your marketing focus and channel will make or break your business. Not all strategies that work for big business are going to work well for small business. If your trying to produce local products for local consumption you will want to advertise in local venues. Likewise if you are selling online and in other markets you will likely want to use more e-marketing techniques. Sometimes one might want to use a hybrid strategy where local marketing increases PR and interest while online marketing is your primary sales venue. Technology can narrow the gap between large business and small business marketing advantages. You can read a little more about e-marketing technology and small business implementation in Mathew Stallings work, 'Consideration for Small Business Implementation Marketing Technology'.

Brooks,  A. (January 14th, 2021) Retrieved 10-17-2021 trueNorth https://www.ventureharbour.com/roi-calculator-how-to-calculate-your-marketing-roi/

Media Tool (2021). Guide to Media Planning and Buying in 2021. Retrieved October 17th, 2021 https://mediatool.com/wp-content/uploads/mediatool-media-planning-guide.pdf

Stallings, M. (Fall 11, 2017). Consideration for Small Business Implementation Marketing Technology. Southeastern University FireScholars. Retrieved October 17, 2021 https://firescholars.seu.edu/cgi/viewcontent.cgi?article=1087&context=honors

Pictures in the Bay San Diego-Little Things Add Up!

We get accustomed to taking life seriously and then begin to miss out on all the little things that add up to make our lives better. Working smart and hard in business is important but its equally important to take some "chill time" to gain a perspective. They aren't great pictures (Although I do like the second.) and I should have taken my time and took good ones but they were "on the fly".  Perfect summer air and the smell of ocean. What is important to you?

 

Escanaba City Council October 7th, 2021 Regional Cluster Development-Good News! Good News!

Escanaba will be sending a letter of support and request for participation in the American Rescue Plan for Regional Collaboration. If you don't know much about the plan you can read more about it HERE. There is some additional information at Grants.Gov. The plan basically helps Escanaba (and other places) connect back up to the global economy through developing industries that improve not only their own town but also other towns within a supply chain network. 

Escanaba is located in Delta County Michigan and is ripe for investment in key industry development and outdoor recreation. Understanding how to connect the local economy to the global economy by creating high value locations that best the market (and our competitors) is important. That requires us to think about the linkages between different aspects of the economy. Regional Cluster Development, Region Lightning Strike, Development Network, Supply Chain Dev. Delta County Shipping, Infrastructure Synergy, Delta County Start Up Model, Industry University Research Pooling and my unfinished Transactional Cluster Theory.

Other beneficial information includes (nice bullet points👍)

-Seeking funding to expand marina.

-Marina work to be done.

-Streetscaping on Ludington (Good idea.)

-Redeveloping formal jail (Prime real estate. It should have strong market interest)

-Monte Morrison reappointed Brownfield Redevelopment Authority and Historical Commission for one more term.

-Celebrating our retirees and all of their contributions.

You can sort of get a picture of what is going on in terms of revamping Escanaba as a destination place. If Escanaba does well in developing its market appeal Gladstone could consider its own complementary development process that works in tandem with Escanaba's and the county to enhance each other.

What is the Build Back Better Regional Challenge?

"Through the American Rescue Plan, the Economic Development Administration (EDA) created a $1 billion Build Back Better Regional Challenge that seeks to transform regional economies through groups of complementary, aligned projects that will help regions recover from the coronavirus pandemic and increase resilience. These regions will have the opportunity to supercharge their local economies by growing new regional industry clusters or scaling existing ones" (American Rescue Plan, Sept. 29th 2021, para 1). You can read more in the FAQ.

The Two Phases

"This program is designed as a two-phase competition. In Phase 1, interested regions form coalitions of eligible entities and collaborate to develop a Concept Proposal that outlines a vision for the development or expansion of a new or existing regional industry or industries, as well a collection of 3-8 potential projects that support that vision. EDA will select 50-60 Phase 1 coalition finalists and award technical assistance grants of up to $500,000 each, through a lead institution, to further develop the coalition’s concept and collection of projects for their regional growth cluster".

"In Phase 2, coalition finalists will compete for significant implementation assistance. EDA will award 20-30 coalitions each a total of $25-75 million, and up to $100 million. These awards will assist communities in executing ambitious plans to supercharge their regional economies across a variety of strategic growth sectors."

 

Economic Development Administration (EDA or the Agency), U.S. Department of Commerce (DOC). by Dr. Murad Abel on Scribd

The Need for New National Direction-Thinking Beyond Political Mud Slinging and "Rigged" Economy

There has been some debate on what it is going to take to restore our national sense of purpose and our ability to compete on the global market. Just about everyone has a slingshot and a fist full of mud (...a few probably put other stuff in there as well.😬) and they just lob it at each other indiscriminately (...dirt bombing each other.). We as Americans are more than that....we are a team of people who solve problems and do what is in the best interest of our society and our collective self interest codified into a nation. (....unless there are reasonable alternatives and right now I see none other then fixing our current problems in a spirit of national rejuvenation and sparking the rejuvenating power of an American Renaissance. Its actually scientifically possible to have a renaissance as all phenomenon can be repeated with the right catalysts. We are part of our patterns in life, in history, in development. Patterns of Life)

That is if we can get people/leaders to work together....and this is where the miracles lay that unlock the gates of future prosperity that reach over the walls of country clubs that hold their opportunities close (Elite-nar-cysts! Sorry. just made up the term. I rewrote the same concept three times and it all sounded stupid so I'm going with the last one.). If your going to call someone a leader you should first make sure that they have leadership traits.  I'm not talking about any specific leader or a specific party because I'm thinking beyond that to a point in time and space where our nation is looked upon with love and envy on the world arena (Tall order but its possible with the "right" leaders and "right" followers. I say "right" with quotes because many times they are reversed. The loudest mouths in the room might be better followers than leaders because it isn't about them. 🤷) 

(I get most of us think its impossible to restore America to its former glory! A sort of hopeless cause. Much better to move to new glories; or argue with indecisiveness! We just need leadership to see a better future and work together to create it...but that may take a miracle. 👼Our success and failure is dependent on an accurate assessment of our national strengths and weaknesses and in turn willingness to work strategically together to achieve collaborative success based on a shared unified vision. 

While we have many different communities we should have a central point of agreement but we fail to sell it because most of our "groomed" leadership can't see it! They have very little idea what the rest of the country looks like, the struggles they face, and the problems that are woven into the social fabrics. That is why tough talking each other might not open up enough pathways of understanding to find a final divergent solution. In other words, we can't see enough of alternative arguments to think critically about the solution. We are blinded before we walk into the voting chamber.)

I have hung with the ultra rich and the ultra poor and at their very core they are the same (At least in my perspective. Tea in Italy and gas station coffee...its all still beverage). There are different peoples with different personalities and sub categories of those personalities but the money and education enhance those existing core beliefs. Being born wealthy (or poor) doesn't change that personality but only highlights or diminishes it (Same thing with doctorate degrees.). The more difficult the situation the more a personality is solidified into its true self (Good and bad). True character comes out during difficult times when all the choices are bad. Our leadership should be reflective in part of themselves and their personal needs as well as their duty to their other causes (They represent their own experiences and needs within a social and political context.). 

Those causes might include their political party, their country, their town, their friends, and even their own personal image. What I can say is that moving outside of that paradigm to seeing themselves in a historical contextual flow helps to envision the greater purpose of their behaviors to achieve something greater then themselves. Societal benefit can be achieved by promoting true democracy and capitalism based on merit and not race, religion, good ol' boy or political affiliation (Yes I'm a Republican but I certainly could see myself challenging some behaviors in the best interest of society. Something similar could be said for the Democrats that have their own issues....but alas....as of yet I have not been blessed with that type of influential power....and of course I shouldn't be throwing stones sort of speak. I'm just a droplet in a sea of competing voices and my opinion is one of many hundreds; if not thousands. ).

Despite our limitations we should be one society and not many small societies competing against each other. The rich are not immune to the perils of the poor nor are those who lean far right in politics not much different than those who lean far left in politics as the collapse/redefining of one is a collapse/redefining of the other. Opportunity and motivation lay in the universalization of values that encourages greater human development and a stronger society molded around a shared sense of purpose. I mean philosophically.......I'm not an expert.....but whatever got us into a non-competitive place must end. 

IMF Lowers 2021 GDP Forecasts for Most Nations-Health, Supply, Prices!

The IMF came out with new projections for 2021 and 2022 that will be somewhat more muted then what we have experienced over the past few quarters. They state GDP will be 5.9 percent in 2021 and 4.9 percent in 2022. Factors such as global availability of vaccines, inflation, supply chain issues, etc.. etc.... etc....(ok...its not that bad!). Basically we have some challenges but our overall growth will be fairly positive in orientation (Some of this might be based on a shift in the way we do business, adjusting supply chains to overcome challenges, and the overall ability of the corporate structure and the labor market to shift. So 2022 to 2023 will be more indicative of our new economic homeostasis....and in turn our postCovid competitive position. Something we might want to compare with China and Europe. Did we gain traction or did we lose traction?)

You may want to read Recovery During a Pandemic or the Executive Summary if your looking for a quick review (It is the same thing as an abstract in a research study. I guess if we applied research we could call it an Executive Abstract written specifically for industry to apply concepts. This isn't the case here but sometimes in higher education we write things that are for academia but then don't always do a great job at making it "usable" for industry advancement. Perhaps summarizing research for industry application could have a subtle but fairly large underlining factor on industry development. Think about it...you need new ideas to flow between the higher edu and industry. I suspect that is one of the differences between PhD and DBA in that the latter seeks to apply research more....but I suspect this will change some over time.)

 Andrea Shalal from Reuters wrote a excellent article IMF trims 2021 GDP forecast, citing 'vaccine divide,' inflation highlighting some of the issues. In addition, Jeff Cox from CNBC also put together a more inflationary discussion IMF warns on inflation, says the Fed and others should be prepared to tighten policy (Important to consider. We should look to the news and read widely to understand trends but we should also go back to the sources and interpret the information for ourselves. Each writer uses their experiences to understand that information and they do so by their own particular lens and expertise. To develop your own lens means understanding the report on your own and in turn understanding the general public discussion on such issues.)

You can read IMF's Chief Economist, Gita Gopinath, the Deputy Director of the Research Department's transcript October 2021 World Economic Outlook Press Briefing

The Study is here again for your perusal. Recovery During a Pandemic

Goldman Sachs Economic GDP Forecasts (October 10th, 2021)

Goldman Sachs GDP Projection 21-21

Goldman Sachs released a GDP forecast report that highlights that indicates a couple of primary drivers (See Goldman Sachs GDP Forecast 2021-2022... 

1. Fiscal support will be reduced leading to a slow down in the economy.

2. Consumer services will need to recover (They believe will take time to recover.)

They provide a couple of projections that include 4.5% 2021Q4 and 4% growth for 2022.

The analysts feel that services will have a hard time recovering and semiconductors are slowing things down. Certainly that seems to be the case. What I'm watching closely for my own personal research in the digital GDP aspects and how that impacts overall GDP. The pandemic has changed how we conduct business. The semiconductor problem will need to be fixed (I have a couple of unfinished ideas how certain innovative clusters can create speed up development of home grown industries like aerospace, military, semiconductors, robotics, etc... In this case, I'm just playing with a general model in Delta County Michigan. You can sort of see what I'm talking about HERE.)

Standing Up to Poor Behavior and Extremism is a "Whole" Nation Affair

Extremism is a dangerous thing and seems to lean toward a growing trend in society. The first images we conjure up is foreign, dark skinned, and of course radical religious beliefs. That definition has changed somewhat over the past few years and an image of extremism is slowly shifting based on necessity to something more universal that includes lighter skinned ultra nationalists that want a society made up of people similar to themselves (At least until they have it and then other differences will be highlighted because its a way of thinking of chronic comparisons and feelings of powerlessness. That is also why giving people the skills and abilities to compete in the global market helps lower extremism through positive prospects). 

I should note that supporting a particular party or a particular vision for the nation is not extremism. We may agree or disagree with the values being promoted but inherently there is nothing wrong people working within a political process (Once they go outside that process or use threats and intimidation we have a different kind of problem.). Where it becomes an issues is when groups distort certain beliefs to target and intimidate "others" (...usually meaning of different races and religions but without those easily exploited differences to create a scapegoat it could be be others within one's same social networks. This is also an indication there were prior victims.) in an attempt to gain power over them.

(....notice now that extremism is action that can be engaged in by any race, religion, ideology in a modern society. Global societies that are upward moving won't have as much extremism as societies that are struggling with change. See Our Two Biggest National Threats Post Afghanistan? (Decision Making and Human Capital Management))

Certainly people have the right to like or dislike others as they see fit even if those beliefs are based primarily on superficial differences (...meaning not on the quality of character of people). Under such circumstances we can accept that we are not dealing with fully mature minds and sophisticated individuals that see the value in all human life. Instead we are often discussing those that are heuristic in their thinking, black white outlooks of "all this" or "all that", and have difficulty seeing themselves and their behaviors with an accurate feedback loop (...bullies and bigots have a hard time managing their thinking and/or emotions when frustrated.). 

Training law enforcement to see the signs of extremism can go a long way in ensuring that they understand the behaviors and can actively thwart or prosecute such behaviors when they become criminalized. Having a proper backstop is helpful and the good men and women serving our communities should be given more tools to be even more successful in their work (The ultimate goal is to help them be successful by enhancing their abilities and giving them the support they need. That in turn can lower extremism, create community engagement, and result in a more accurate and just Justice System. See Judges and Society  )

(Zhang, Zhou, and Mao, 2018)

It isn't fair to put all of societies ills on our officers as the disease of extremism is a social affair that has been in the brewing in certain circles of society for some time. We just didn't think of it as such until a number of national events occurred that highlighted how big that problem is and our lack of tools for dealing with it. The problem lies in part on our legislative process, value systems, and the promoting of extremism in politics (Called social prompting. You can see in this study how ethical leadership prompts follower behaviors. Take that on a national scale and the information people receive via communication/marketing channels such as television, Internet, etc... and you can sort of create a mental connection how this a bigger social issue. This is also why I encourage our leadership to think before they talk. ...a problem most of us suffer from....even me. 😔 Ethical Leadership and Follower Moral Actions: Investigating an Emotional Linkage ).  

I wish I knew all the answers. My family was targeted by extremists (at the very least extremely self consumed individuals that exploited existing bigotries.) and it was told that they were coming after my family because "You are Muslim!" (..which they don't really know anything about our values. Sad actually...that they feel is ok to act on such beliefs without understanding the targets they are acting on. More to come on a project I set out on a long time ago and have sort of wrapped up over the past few years. Lots of it is good and some of its bad but its a solid feedback loop for government stakeholders....assuming there are any. Who cares right?🤷). There was much more to this such as mental health, reputation, and financial gain but it was narrowed down to a single statement that prompted coordinated group aggression. I can only say that I have responsibilities to my family and to my country (and community) so I'm not willing to look the other way until their is a level of accountability (Right is right and wrong is wrong. If we don't have basic values the rest of the foundation becomes shaky through root assumptions and miscued social logic. Hegel and Social Spirit). 

Things like this happen because we have not challenged these behaviors prior and have not given good reason for participants to think before they act (That doesn't even mean punishment in all cases. Sometimes education, exposure, and values makes a difference. Distorted Mirrors). Automatic "immunity" from such behaviors is dangerous for everyone involved and can create a societal crack that can't be mended by fluffy words and fast talking spokespersons. It is an essential truth of who and what we want to be as a nation. While I can't speak for our political elite, I'm an advocate of learning, training, developing and promoting of pro-social values that create win-win situations across the board. 

The question then becomes from a functional level...."How does that happen?" ....and that is where most of us go blank. The one thing I can think of at the moment is to get mental help to those who first show signs of aggression mixed with hate based behaviors (...it is about power, feelings of powerlessness, and lack of respect for others.). In this case, such behaviors were seen as "cool" and not addressed appropriately thus far in their lives (They are isolated and coolness is defined primarily the same way since they were in grade school in the 70's. Its like Caddy Shack mixed with Animal House 😳). It also became emulated within their dysfunctional social networks (meaning they have a hard time self correcting because they don't see themselves as a problem.). See Michigan Extremism Reform. Others may have different arguments that may be just as valid.

_______________________________

Side note. The group is no longer acting in a direct aggressive manner but most have shown very little remorse for their behaviors. There is a level of arrogance of some of the members (chuckling and spreading rumors) and a few have bridged the gap in social gestures to indicate they no longer desire to be aggressive (...likely more based in fear of being held to account. There may be a few genuine souls in the bunch.). Some have continued to ostracize at the direction of their ex-sports group leadership (i.e. the ones who started the problem. Its also interesting to see how they view others as wanting their validation...without considering alternative explanations. 🤔🤷). Thus it is a mixed bag of positive and negative. I don't want to say what I hope for in this case because I want people to sort of choose the path they want without any prompting from me (Even if what I say is the most logical thing in the room if I say one thing they are the type that go one way and if I say another they will run in the opposite direction. For many it is about looking good, winning, and saving face without realizing how that highlights latent variables of distorted self and group image.). Its important sometimes to not say too much.....so that events can unfold on their own. Thus I'm only understanding and explaining what seems to make sense to me. Perhaps others have explanations as well but what I have seen so far it seems like we are lacking in this regard to good theory.