In the February 2011 Newsletter
Five Marketing Essentials / Events / News
Start-ups do not need a marketing budget! That's what Brad Feld suggests in his article "Why a New Start-up Shouldn't Have a Marketing Budget." This shocking statement does get your attention, especially since Brad then says, "Of course marketing is a key part of the success of these companies. However, it's wired into the DNA of the business, not an extra thing that is attached on," Okay, so it turns out that marketing is very important.
Marketing, in fact, is the system of activities involved in bringing the right product, at the right price, through the right channel (or placement), to the people whose pain the product solves, via the right promotions. Marketing results in exchange something of value (money) being exchanged for something of value (your product or service). Here are the five key "P"s of marketing along with examples of how Radish Systems is using them.
1. It's all about the PEOPLE. Make sure your business is market and customer driven. Make sure your innovation solves real market pain. Know your market.
CASE STUDY. The problem that Radish solves involves the difficulty in getting good business information during a phone call. Purdue University found that a bad call center experience, which may start with an interactive voice response system (IVR), is why 63% of customers stop doing business with a firm.
Radish targets firms having a contact center and/or IVR that deals with mobile device users in a closed user group. Scosche Industries, an auto electronics distributor, uses ChoiceView for tech support with its thousands of installers. In general, Radish prospects are in fields technical support, healthcare, hospitality, mobile retail, and financial areas.
2. Introduce the right PRODUCT. Make sure your product and service is solving the customer's needs. Don't have technology for technology sake.
CASE STUDY. Radish's ChoiceView technology platform just won the prestigious Innovation Showcase Award at the Enterprise Connect show.
ChoiceView solves a problem and changes the way people access business information. ChoiceView transforms traditional IVRs into Interactive Visual Response systems, saving time and frustration for callers. ChoiceView also allows live agents to seamlessly share visual information while talking with callers. The result is faster, more rewarding communications by delivering "Wow, now I see what you're talking about" moments.
3. Establish the right PRICE. What is your market's willingness to pay? Is your price higher than your costs (so you can make money) and within the willingness to pay and within the competitive range?
CASE STUDY. The Radish ChoiceView App for iPhones and iPod touch is available now at the Apple App Store for FREE. Radish has priced ChoiceView for enterprises to ensure easy adoption and diffusion. For qualified businesses, Radish offers a FREE pilot program.
4. Develop the right channel (or PLACEMENT). How do you bring your product / service to the market? Do you go directly or indirectly through various channel partners?
CASE STUDY. Radish is building an alliance of supporters and resellers including, mobile web / app developers, contact center / IVR resellers, and Business Process Outsourcing (BPO) centers that outsource ChoiceView services. Additional partners include, mobile device, call center, and other device manufacturers (or OEMs) and wireless telecom service providers. Radish also works with referral sources.
5. Actively PROMOTE. Promotions cover one-to-one and one-to-many types of communications, including selling. This is what many think of when they consider marketing, but it's much broader than this. The purpose is to build awareness, generate leads, and move leads to take action to buy your product.
CASE STUDY. Radish's' promotional activities are many and varied. They include a mobile website, radio interviews, videos, brochures and product demos. Learn more at www.RadishSystems.com.
PRACTICAL POINTERS. Say "Yes" to Marketing and take your firm to the next level of success. Ensure that you have the right product, priced correctly, that meets the needs of your market (people), in a way that is placed through proper channels, and actively promoted.
Upcoming Public Events
Monday-Wednesday, February 28-March 2, 2011. Visit Radish in Booth 329 at the Enterprise Connect 2011 show in Orlando, FL. Call 720.440.7560 to set up a meeting. Hear Theresa speak on the Keynote stage at 9:00 AM EST on Wednesday.
Thursday-Tuesday, March 3-8, 2011. Theresa is in the New York / Boston area. Contact her to schedule a meeting.
Thursday, March 17, 2011. Attend the Boulder BPW Celebration of Women with Theresa and see Radish advisor, Janet Eden-Harris, receive the Woman of the Year award. Learn more at www.BoulderBPW.org.
Tuesday-Thursday, March 22-24, 2011. Visit Radish at the CTIA-Wireless show in Orlando, FL.
Thursday, April 21, 2011. Apply now for the Boulder BPW Young Careerist program. Learn more at www.BoulderBPW.org.
Good News and Practical Information for You
RADISH. Interested in more of the Radish story? Follow Radish @RadishSystems or @ChoiceView on Twitter. And subscribe to Radish's RSS feed.
BLOG. Check out my Radish Sprouts blog posts about business, career, and life performance. The latest posting is Obama's Message about ChoiceView.
Believe and Act!
Theresa M. Szczurek, Ph.D.
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CEO, Entrepreneur, Consultant & Business Coach, Speaker & Author
Technology and Management Solutions, LLC