Successful entrepreneurs are risk takers who are willing to consider "Chance Marketing" knowing there is a possibility of failure. As a result, entrepreneurs are the ultimate target for salespeople selling advertising. Their pitch is: "Anything that improves the chance of improving sales is worth looking at."
Regardless of how well the entrepreneur executes, an entrepreneur buying advertising can only hope for the best. Traditional advertising does not give the option for placement and the small business owner can only hope that the advertising will be placed at the perfect spot. Traditional advertising can include:
- Television advertising
- Radio ads
- Marriage mail (known as junk mail)
- Newspaper ads in any section (including classifieds)
- Telephone book advertising
- Magazine ads
The cure for random placement is a bigger budget. Spend more money on advertising and there is a better chance of having the desired placement. Unable to compete, this leaves the small business taking random potshots with advertising which may or may not be within range of being seen.
Technology has evolved but "Chance Marketing" is alive and well. Search engine results are fluid and now change based on geography or personal habits. Google will remember where the Internet shopper has been.
Any small business owner can feel a bit helpless to achieve 1st page rankings in search engine results. To avoid the chance of not having placement, any business can bid to be at the top of the page on Google. Placement via pay per click advertising ensures top position for the top bidder until someone else bids higher. Banner ads online can be purchased via 3rd party vendors. Where and when the banners might appear is left to random chance.
If "Chance Marketing" is not appealing, the small business owner thinks of being direct and personal:
- Direct Mail in the form of postcards, greeting cards and letters.
- Social media tools such as Twitter, Facebook and LinkedIn.
- Direct email (not advertising inside 3rd party emails)
- Telephone calls
- Automated robo-calls
- Networking & Events
- Hand shaking
- Text messages
The difference between the two types of marketing is dramatic. One is personal and the other is random broadcast. The more direct form of marketing such as text messages is specific to a person. While many believe mail is not an option, a personalized direct mail campaign is very powerful when combined with a website and online touch points.
If you are an entrepreneur and not much of a risk taker, you will trend to focus on the personalized direct approach. At the core of every guerrilla marketing campaign is "personalization". If you are more of a risk taker you will gamble with buying advertising and hope for the best placement.
Divide your marketing into "more chance" and "more personalized". One is easier and requires a bigger budget and the other goes much slower, requires more work but can be done with less of an investment. Which appeals to you more?