In these tough economic times, many small rural businesses are having to cut back on advertising.
In this 3 part series on “The New 5 P’s of Marketing” I’m going to show you why that might be the best business decision you’ve made since you opened your doors.
Having to cut back on traditional advertising and finding other ways to attract customers is the silver lining of this recession for small and rural businesses
Being in business is about selling. And selling is about attracting customers. And attracting customers is about marketing. So being successful in your rural business is about being a successful marketer. A successful Marketer, NOT a successful advertiser.
When you own a very small rural business, everything you do everyday is part of your marketing.
The old 5 P’s, Product, Price, Packaging, Place and Promotion make this very easy to understand. Take a mental walk through your typical day and see how much of what you do fits into one of these 5 categories.
Whether you are a guide service, a retail store owner, a motel or restaurant, or a mechanic, without marketing you’re just a person with a bunch of stuff and a dream.
The problem we face with this recession is that these old 5 P’s don’t give us a roadmap for what to do when we don’t have an advertising budget (part of the Promotions “P”) anymore.
Most rural business owners understand the importance of “word of mouth” but how can that replace advertising?
They understand that getting press about their business is more effective than advertising, but that’s a time consuming skill most small business owners don’t have.
Marketing expert Tom Patty gives us the answer in his “New 5 P’s of Marketing.”
Tom has captured the power of new media and the internet, and the resulting paradigm shift in how we make buying decisions. In 1995 he did this!! And we can benefit today.
What Are the 5 New P’s? Paradox, Perspective, Paradigm, Persuasion and Passion.
STOP!! Don’t leave yet. These obtuse words hold the key to your success as a small business owner and a marketer.
You can get a preview of how Tom Patty viewed these 5 New P’s in this reprint of his treatise on Robert Cole’s blog, View from the Corner Suite.
Tom Patty was a specialist for the automobile industry, so these New 5 P’s need new interpretation for rural businesses.
Tomorrow we’ll start with “Paradox” and “Persuasion. You’ll learn how new marketing gives power to small, nimble businesses… like yours. See you tomorrow…
Here are several past posts on the nuts and bolts of using the New 5 P’s in marketing…. You’ll see how it all fits when you finish the series.
Photo of “Atomic Ed” Grothus and his stuff by Marcin Wachary