PR TIMES AFRICA PR TIMES AFRICA Magazine june 2015 | Page 20

branding. At this stage, your PR
must position you as the expert's
expert.
“Marketing" is the association of
your established brand with
products and/or services in the
mind of a particular person,
demographic, geographic and/or
professional group. A "market"
is that identifiable person,
demographic, geographic and/or
professional group. While public
relations is the process of
"branding," marketing is the
process of "establishing the
brand.”
"Advertising" is the
establishment of a sense of need
for a product or service in the
mind of your market. Even if
your market knows your name
(brand) and your
products/services, if they do not
know that they need your
products or services, they will
never buy! On the other hand, if
they "feel the need" and you
have established your brand,
they will seek you out.
So how much should you spend
on PR, marketing and
advertising? The answer reflects
the progressive nature of this
process. In this case, one sum of
money should be allocated for
the entire process of PR,
marketing and advertising. At
first, the entire amount will be
spent on PR, with little
marketing or advertising. Your
target market needs to know you
are the expert. As you become
the recognized expert (1 to 2
years), spending on marketing
increases and spending on PR
decreases. This will overlap the
1 to 2 years for PR. Finally, you
will be established as the expert
and your brand will be
established in your market by
your marketing. This is when
18
you will begin to shift spending
to advertising. Again there will
be overlap, but don't expect to
spend much on advertising until
at least one year after you begin
a well planned PR program and
at least six months after you
begin a highly targeted
marketing plan.
How much should you spend on
PR, marketing and advertising?
If you want success, spend 10%
to 20% of gross revenue. Again,
if you are a start-up still
operating on loans or investment
capital, budget 20% of that
money per year for this process.
Social Media
Entrepreneurs are using the
newest Internet trend,
professional social networks.
Services like LinkedIn,
Konnects, Ecademy, Plaxo and
even Facebook provide
professionals the opportunity to
meet and collaborate with
colleagues worldwide.
These professionals fall into two
distinct groups who utilize social
networks:
1. Those for whom the
emphasis is on the word
"network”
2. Those for whom the
emphasis is on the word
"social"
VOL 1. JULY 2015
1ST EDITION
Those who emphasize the word
"network" seek to promote and
expand their business. Those
who emphasize the word
"social" seek to promote and
expand their Christmas card list.
Social Media Marketing is the
systematic approach to using
social networks and other "Web
2.0" and "Web 3.0" technologies
as a part of an all-inclusive
marketing plan.
In less than 6 months, through
Social Media efforts alone, one
business:
1. Secured two book contracts
with mainstream publishers
2. Contracted four full-fee
speaking engagements
3. Secured the keynote address
for the largest international
convention in a new market
niche
4. Obtained a monthly column
in the largest distribution
industry magazine in a new
market niche
5. Contracted a consulting deal
in a new niche market
6. Contracted with two foreign
goverments to provide
consulting services
7. Served as a consultant to the
Centers for Disease Control
and Prevention
PR TIMES AFRICA