Turbocharge Your Business Marketing Utilizing NASCAR Marketing Secrets

By Edward DuCoin

Corporate sponsors spend huge amounts of money for NASCAR related advertising.  Mars, Inc. has been paying large sums of money to have their products advertised in various ways with NASCAR.  Mars Inc. reports that they get back $4 for every $1 spent on NASCAR sponsorships.  No wonder they keep on doing it year after year!

How does NASCAR consistently attract large crowds, television broadcast fees, and corporate sponsors who pay six figure sponsorship fees?  The short answer is that they attract and include celebrities in their events, treat people well, and maximize the return on investment for their sponsors.

Why?  Celebrities are celebrities in part due to achievement.  As strange as it seems, sometimes celebrities are famous because they are well known for some association they share with other celebrities.  Don't fail to understand that people pay attention to celebrities, and it doesn't seem to matter much whether they even like the celebrity.  Famous people attract the attention of the poor and the wealthy; of the 'Larry Lunch-bucket' crowd and the Wall Street insiders; of people from Red States and Blue States; and of blue collar, white collar, and no collar people. 

Association with celebrities seems to lend a celebrity status to ordinary people who are seen spending time with those people, even when it may be manufactured, scripted event. For example, Kevin Harvick fans are more likely to drink Pepsi since their favorite NASCAR driver is associated with the brand.

The power of association is much greater than we may realize.

NASCAR started in 1948 as an association for dirt-track racing in the southern United States. The family-owned company has grown to more than 200 employees, and annual revenues have risen to over $1.3 Billion.  Marketing research indicates NASCAR has 75 million fans, with over 40% earning $50 thousand per year. Research also indicates that 40 million of those fans spend an average of $700 per year on NASCAR merchandise.  Web sites, viewing of races on television, and reading magazines that report on NASCAR activity are quite popular among this sizable group of fans.

Because of the mix of celebrities in attendance, the drivers, sponsors, cars, television exposure, and wide fan demographics, and sponsor loyalty of 75% plus NASCAR has real staying power.  Primary race-team sponsors get to choose the color of the car, and get preferred placement and size of their advertising images on the car. For those privileges, primary sponsors pay somewhere between $5 million to $7 million per year.   With significant revenues, NASCAR gives excellent service focused to maximizing the return on investment for their sponsors.

So What Can Your Business Learn From NASCAR Marketing?

First, NASCAR keeps a clean, family image.  Second, they make sure they appeal to people from all walks of life.  Third, NASCAR provides excellent service to sponsors and fans alike.  Fourth, NASCAR involves celebrities in promoting the sport, and ensures that the celebrity sightings are shared among sponsors, who gain credibility with their own customers.

If your marketing helps your clients and customers to feel valued, you are emulating NASCAR. If you understand the power of association with one or more celebrities, and also know that the appearance fees of some celebrities can be affordable, you are on track to grow your business. If you make sure that no one needs to blush when seeing your product or your advertising, the same goes.

When you make sure that those who contribute significantly to your bottom line receive excellent Return On Investment, and want to continue doing business with you year after year, you may be learning from the great example set by the marketing strategies employed by NASCAR.

Top NASCAR Sponsors

After some research, we came up with the top three sponsors known for their placement on NASCAR vehicles and merchandise.

#1 – Jimmie Johnson, number 48: Lowe’s Home Improvement

#2 – Kevin Harvick, number 8: Budweiser

#3 – Jeff Gordon, number 24: PepsiCo

4 Crucial Things to Know about Crowdfunding: What You Don’t Know Could Hurt You

By Edward DuCoin

Crowdfunding is a way to allow people without much money to 'get in on the ground floor' and to provide funding to a new business venture. In exchange, the small investor hopes for a good return on the money invested. For investors with less than $100,000 annual income (or net worth), current rules allow no more than 5%, up to $2,000 invested in this way. If the income (or net worth) is over $100,000, the limit is 10%, unless the investor is an accredited investor.

In the past year or two, firms offering crowdfunding have grown exponentially.

Recently relaxed disclosure rules allow for information to be offered through forums as casual as Facebook, Pinterest, LinkedIn, and other social media sites.

The Good

In the past, well-heeled, well-funded venture capitalists, many if not all of whom were registered investors, would choose which risky ventures to fund. The chance of losing part or all of the investment is quite real in the world of venture capitalists; this is part of the reason most people never get involved in such investments to any serious degree.

The next door neighbor's kid selling stock in Junior Achievement comes to mind, and the amount has traditionally been low enough that nobody really cared if the money went up in smoke. It was to provide an educational experience for the kids, anyway, and the investment was less than a steak dinner for two at the neighborhood dining establishment.

The amount of regulation, research, oversight, and policing authority for most securities is pretty substantial. For small business ventures with no track record, the cost of starting operations can be overwhelming.

Obtaining bank financing often requires the entrepreneur to pledge his home as collateral, and getting the loans can still be quite difficult. An Initial Public Offering (IPO) can require more expense, time and delay than many hopeful business owners can afford.

The vast majority of small business startups do not succeed. One of the biggest reasons is the lack of sufficient operating capital, closely followed by lack of expertise in managing what cash flow is available, along with marketing, competition, putting together a team of employees, dealing with regulations, taxes, and all the rest.

The Bad

·         Crowdfunding shares may be sold through a 'funding portal' or a registered broker-dealer, but both are prohibited from rendering investment advice to the purchaser, or offering sales-based compensation to those who conduct the transaction.

·         Total funds raised via crowdfunding are restricted to $1 million or less. Regulations are not yet fully decided, so no one really knows what future regulations may be. Regulations are loose, but the lack of policing power is practically non-existent, so the possibility of someone simply spending all the money or using it in and unskilled or inappropriate way, with little or no recourse for the investor, is quite real.

·         The non-accredited investor is prohibited against selling his or her shares for one year.

·         A million dollars sounds like a lot of money, and it is. However, the amount of money required to launch a successful business is frequently underestimated. Many expenses both large and small must be met. Investment precedes revenue nearly 100% of the time so a million dollars can be used up before the business gets off the ground. The hidden danger is that the crowdfunding might raise several hundred thousand dollars, and that could make the apparent net worth vs. cash flow of the new business too high for a real IPO to be mounted.

So, the new company is in imminent danger of failing due to lack of funding before the investors can sell their shares. Remember, many of these shares are promoted in rather casual ways, and current regulation allows the promoter to escape the scrutiny other investment providers would face, if the information isn't correct.

Does this sound like a prudent investment for an investor who probably doesn't really know what he or she is doing when the investment is made? Unless I'm investing in my brother in law, count me out.

Top Crowdfunding Sites

If you're looking to acquire money through crowdfunding, or want to invest in a small start up, there are three top sites that have been proven not only trustworthy, but successful as well.

1. Kickstarter (focused on creative projects and steers away from businesses and personal finance goals)

2. indiegogo (more tightly focused, with everything needing approval, covering mostly anything except investing)

3. Crowdfunder (more targeted at businesses, start ups, and social enterprises)

Social Media: Sharing Without Borders

It might be a given that when you post something online, it goes across the world. What doesn’t seem to be such a given is what that means and what sort of impact it carries. When we share something, what borders are we really crossing and what sort of boundaries are we penetrating?

A border doesn’t have to be so straight forward. While it’s true that we’re crossing state and international borders when we send out a tweet, there might be more to it than we think. There are other borders, such as religious separation or cultural changes that we’re jumping over. In the age where even social causes have seen more support than every from websites such as Tumblr, what other borders are we pushing when we hit the share button?

Check out the whole article here on ORPICAL.com.

By Edward DuCoin

Edward DuCoin - racing and crash Mid-Ohio

Beginner’s Guide to Using Social Media as Inspiration

By Edward DuCoin
Whether you’re in a creative field or are more focused on a business related aspect of the industry, everyone needs inspiration. But where do we get inspiration? Is it something that hits us out of nowhere, like many cinematic recreations would lead you to believe, or do you need a muse? Or perhaps there is a scientific explanation for inspiration we could harness in order to get more creative energy.

The truth is, it’s much more simple than any of that. Sometimes it’s seeing something that sparks a new idea while other times, it takes seeing someone else creating something to get us motivated to create. In either case, social media is one of the best sources to get your creative juices flowing.

Check out the Beginner’s Guide to Using Social Media from ORPICAL.com for ways to use your social media platforms for creative ideas.

Leader, a Third String Quarterback or a Fool?

When it comes to business, a true leader does not have to delegate. Instead, his or her team will provide the ideas for the specific task at hand.

However, danger quickly develops when people who believe they are a leader are still learning how to become one, like a third string quarterback, or are simply fooling themselves. Being a leader is much like being pregnant – you either are or you are not.

Of course, a leader still has to improve. Once they are a leader, they won’t necessarily always be a leader.

A leader isn’t perfect, nor is becoming one the last stop on a train ride. It’s something a true leader continues to work and improve upon each day.

So – what makes a leader a leader?

1.     Experience

2.     Learning from mistakes

3.     Never being satisfied with oneself – always improving.

Of course, these three points only look at the internal aspects of becoming, or maintaining the status of being, a leader. This is only half the battle.

What happens when you win half the battle? At best you survive – but most likely (and sooner than one might expect) you crash and burn. Loose. Fail. Die

The mark of a good manager is what happens when the manager is not looking. The mark of a good leader is the fact that all those who come in contact with a leader feel touched, moved and inspired by the interaction.

A leader motivates, trains, helps, talks at eye level – never down, pays attention to verbal and the non-verbal. A leader leads. A Leader shouts positives and whisper negatives.

A Leader knows recognizing a problem is the first step in solving the problem and their approach will determine 99% of the outcome.

Anything else is like calling the color Blue, Red…you can call it one color – but it is always another.

How an individual responds to situations will determine whether they are a worthy leader.

When it comes to the transformation into being a leader, you are not until you are and someday, (regarding leadership) you may not be again. Do you remember Blockbuster, Compaq, Borders Books, and the many more companies with proven (temporary) leadership?

Then – once there is a commitment for internal development (self) and people will “run-through-a-wall” for the Leader, then competition must be considered.

To gain a competitive advantage a Leader must define operational excellence and then raise the bar on continual bases.

The reason a leader exists is to beat the competition. This can only be done as a team, that is highly motivated and, like the Leader, is consistently developing. A Leaders job is to build self-confidence in his or her people. 

A Leader also has to make the tough calls. There is no such thing as expenses, only investments.  The role of a Leader is to determine if the investment will yield a positive or negative return. A Leader needs to be rigorous and not ruthless. For a Leader “brought into” a new environment this action will initially create high turnover, but within a short period of time will create extremely low turnover and dedication

Leaders know Packard’s Law, written by David Packard: “If growth rate and revenue outpaces growth rate and people, you will not, and in fact cannot, build a great company.”

Leadership starts with the self. Also like any great structure requires a solid foundation, a leader develop culture and adapts the culture and the company develops.

Here at ORPICAL our name literally is the foundation we will be a great company on.

What We Stand For:

Optimistic –

We expect the best outcome for our employees and clients.

Respect –

The consistent consideration of all we encounter in a courteous manner.

Passion –

Engaging enthusiasm for the positive wellbeing of people, opportunities and our planet.

Integrity –

To be known as individuals and a company of scrupulous integrity.

Curiosity –

Be a company that is always eager to teach, learn and grow.

Altruistic –

 As a profitable company we will have the capital to be devoted to the welfare of others.

Loyalty –

Steadfast adherence to our commitments and what we stand for as a united company.

At ORPICAL we help companies of all sizes increase sales while cutting operational costs. All of our services are performance based. Therefore we need Leaders to ensure our performance exceeds expectations of clients and maximizes earning potential for all.

Frequently Asked Questions (FAQ's) About Our Collaborative Book

Book Project – “The Strangers I Know”

FAQ’s
________________________________

QUESTION: How did you come up with the idea for the collaborative book “The Strangers I Know”?

ANSWER: In the past few months, I have been thinking quite a bit about social media. I have over 2,000 connections on LinkedIn, however, if I was walking down the street or sitting in a coffee shop, how many of these contacts would I know? All of this “social media buzz” in my head is the reason I am inviting connections to participate in this book project. This is a timely book that I strongly believe will be well received in the market.

QUESTION: What is the flow of the book? How will the stories be shared?

ANSWER: The book: “The Strangers I Know” will focus on you. It will review what is learned about you and how this interaction affected other participants. The book will review hundreds of interactions and prove the real power of social media: knowing your contacts and really making the effort to know them.

QUESTION: Why should I do this? 

ANSWER: This will be a wonderful, long-lasting marketing and sales tool. You will be able to announce forever you are a published author. You can send books to prospects, offer as gifts for customers, use as a recruitment tool for new employees and add to your bio / resume.

Plus the connections your will make from the other participants should yield new introductions and sales.

QUESTION: Is the cover design complete?

ANSWER: Not yet. All participants will be listed on the cover – after all – this is a collaborative book.

QUESTION: How will the book be promoted?

ANSWER: We will be developing significant publicity. Our goal is you will be able to brag that you contributed to a best seller. We will use social media, public relations and the power of the participants’ connections.

QUESTION: I am not a great writer / do I need to write?

ANSWER: No writing is expected of you. You will be interviewed several times where we will learn more about you and how you are growing your business while utilizing LinkedIn and other social media.

QUESTION: What contact information can I share?

ANSWER: You will be able to share your contact information (whatever you care to share) so this will be a wonderful marketing tool for you. People who are intrigued by your story will want to contact you. We will make it easy for them to reach your website and/or any other form of communication you want to share.

QUESTION: Why $475 – sounds cheap? AND Why $475 – sounds expensive?

ANSWER: Collaborative books are not new. I participated in one about 10 years ago that was, in fact, a best seller. It cost me $4,000 and I was one of about 80 participants. In doing research for this project, it seems that collaborative book projects cost each participants (typically) $2,500 to $10,000.

I believe “The Strangers I Know” will be a great story but I did not want to charge, what I believe is, an outrageous amount. I determined this full project could be done for far less. It seems to me in the above-mentioned collaborative books, someone was making out very well financially.

The project budget is as follows:

Budget	Per Participant	Total Project
Interviews / Writer	$200.00	$23,000
Copy Editing	$28.26	$3,250
Cover Design	$4.35	$500
Formatting - Print	$6.52	$750
Formatting - Digital	$6.52	$750
ISBN	$3.48	$400
Public Relations / Promotion	$60.87	$7,000
Printing - Initial Run - 2000	$121.74	$14,000
Distribution	$7.83	$900
Administration/Mailing Expense	$34.78	$4,000
Total	$474.35	$54,550

It is $475 with 115 participants. Many of the costs are proportionate to the number of people. I believe the project will be a green-lit if we have 25 + participants. If you elect to participate, you will receive 15 copies of the book and you will be able to order additional copies at cost – approximately $7.00 each.  The book will sell for approximately $15.95.

QUESTION: How will you communicate the progress?

ANSWER: We will have a special “invite-only” LinkedIn group along with a monthly conference call and updates sent via email.

QUESTION: How much money are you going to make? Who gets the profits?

ANSWER: There are zero profits. The book distributors will make all the funds from posting with Amazon etc. IF there is ANY profit, it will be equally divided by the participants. The reason to participate is to promote yourself and your product/service. It is also a great resume builder and creditability builder.

QUESTION: How do I pay?

ANSWER: The total is $475. It will be in 3 payments – (online) of:

•            $175 initial payment – to get the ball rolling.

•            $150 in 30 days

•            $150 in 60 days

QUESTION: Will the book be on Amazon etc.?

ANSWER: The books will be distributed on Amazon, Barnes and Noble, Apple iBooks and Kobo. We will have paperback and eBook (Kindle) editions. There will not be a hardback edition. We are shooting for a July 2014 release.

QUESTION: I am interested so what is the next step.

ANSWER: The initial steps include:

1.    First interview with you to develop a story based on you, your company, your life and your life events.

2.    Expanded conversation with me. It is imperative there is interaction.

3.    Invite you to group calls so you can learn and comment (quoted in the book) about what you learn about others.

4.    We will have a dedicated LinkedIn group for interaction and sharing.

Contact:

Edward DuCoin

ed@edwardducoin.com

856 304 2800

Are Tweets the New Super Bowl Ads?

What JCPenney’s Super Bowl Tweets Might Mean for Super Bowl Advertisements

Even as a Seattle fan, it got a little boring watching the Broncos continually hand the ball over. After feeling pretty confident the Seahawks were bringing it home, I wound up perusing through Twitter.

Read Full Article Here