Question

Topic: Advertising/PR

Free Media Coverage - Good Idea For Small Biz?

Posted by Anonymous on 6/3/2009 at 3:13 AM ET 125 Points
Hi all, thanks for taking a moment to read this. Here is my dilemma:

My partner and I started an innovative service-based business 18 months ago. We are the first of our kind in the country, and we have big plans for expansion. Trouble is, we are still trying to find our feet and would really struggle to expand in the very near future.

We have been offered an opportunity to be part of a new TV show to be aired on a major channel at prime time. The show is aimed at entrepreneurs and other business-minded people looking for inspiration during the global credit crisis.

On one hand our brand would be heavily promoted, and while the target audience for the show isn't necessarily our target audience, chances are some good will come out of the publicity

On the other hand, I am extremely concerned with presenting our business as a business IDEA, where anyone across the nation could go "what a great idea, I could do that" and potentially affect our ability to expand in the future. Granted our service is significantly more complicated than that, and the individual would have to have certain qualifications, etc. But still, in a nation there would definitely be people who fit the bill.

Any advice you could offer would be greatly appreciated. In your experience, is all publicity good publicity, or should we be more cautious about where we are highlighted?

Many Thanks in Advance!


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RESPONSES

  • Posted by CarolBlaha on 6/3/2009 at 8:47 AM Member
    If its not your target market -- why do it? You'll spend a lot of time prepping for this -- you'll have to decide if that time is time well spent.

    2nd, if you think your idea is so copy-able so easily, what value do you have? Certainly your target will think that. Drill deeper, you're selling yourself short.
  • Posted by marketbase on 6/3/2009 at 12:30 PM Member
    Until you have your base cemented and ready to go, don't bother alerting potential copy-cat idea grabbers. This tv 'show' does not hit your targeted market; why bother shot-gunning and wasting your ammunition right now?


    jag
    MarketBase
  • Posted by matthewmnex on 6/3/2009 at 9:50 PM Accepted
    I wholly disagree with most of the above :))

    IT IS FREE MEDIA COVERAGE

    It may be a once in a life time opportunity to win some customers and make some sales. Sales = Revenues :)) Thats good right?

    With all due respect to your expertise, far too many businesses shot themselves in the foot because they were more worried that someone might steal their idea than they were about actually getting it out into the market.

    If you and your idea are good, then YOU will be tagged as an innovator. Any one who copies will just be a copy cat.

    Also, please remember that it is not possible and never has been possible to PATENT or PROTECT and IDEA.

    You can protect a specific system or technique or design. If you have that, then please patent it right away. if it is just an idea, then as Phil said, it will be copied anyway sooner or later.

    The main question is, are you going after GLOBAL domination? or are you just wanting to make a healthy business in your immediate catchment area.

    For example, we are in the online weight loss business. There are hundreds of competitors around the world selling basically the same thing. We added some innovations (that have been copied) but who cares. We are not after global domination but we are bringing in several million dollars per year so we are happy.

    Just decide for yourselves first what you are going after and be realistic about it.

    Then, TAKE THE FREE MEDIA EXPOSURE :)))

    Good luck,

    Matthew
  • Posted by Jay Hamilton-Roth on 6/3/2009 at 11:41 PM Member
    It could be a very good thing, if you can craft your message to say, "We started this 18 months ago, and business has been great, and are looking for people to join our team all around the country. Contact us for more information."
  • Posted on 6/4/2009 at 11:21 AM Accepted
    You haven't told us why you're still trying to find your feet after 18 months and are anticipating further struggles ahead. Your business is the first of its kind in the country; maybe no one else has gone into the space because there isn't a market there.

    Or maybe something is lacking in the execution.

    But leaving those topics aside and getting to your question:

    Go for the exposure. Especially since it's in prime time at a major channel. Some of the business people watching the show may be your potential customers.

    If someone tries to copy your idea, they'll have an 18-month lag compared to your business. And when you do become successful and well-known, somebody or the other is bound to try and copy your idea -- there's no getting away from that.

    What distinguishes one company from another in the same industry is the way the product or service is delivered. Think Hertz vs. Enterprise. Both are in the car rental business, but both have different operating philosophies and methods.

    So don't be afraid of publicity and competition. You need publicity to get customers and grow. Competition is the price you pay for being in business.

    Arun Sinha
    Access Consulting -- Advertising, Communications and Technical Writing
  • Posted on 6/5/2009 at 11:30 PM Author
    Hi All,

    Thanks a million for your input!

    We have decided to go ahead with the program. I still have some reservations, but the producer has said we will have the opportunity to view the segment before it goes to air to ensure we are happy with how we are portrayed. I still have a few reservations, but we have reasoned that if we are ever going to grow to the capacity we envision, potential clients need to know about us.

    In answer to Arun's questions:

    We are still struggling to find our feet for a few reasons:
    1. Neither my partner nor myself have any business experience, so we are learning everything as we go.
    2. Our service operates 24/7, and we are in a seeming catch-22 in that in order to grow, we need to have employees, in order to have employees we need to be able to pay them, in order to pay them we need to be busier, in order to cope with being busier we need to have employees!

    We have just over a month before the segment will air, so in that time we will build a strategy for how we will cope with additional business if it comes our way. Also, we will come up with a marketing plan to coincide with the show to try to reinforce the message in our current service area.

    Thanks again for all of your help!

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