Monday, November 9, 2009

Live from the KOD Tour, "Importance of Diversification" Part 1

It was one heavy night and we first want to send a Special Thanks to Stevie Stone, Tech n9ne, Glasses Malone, Kutt Calhoun, and the entire KOD Tour posse for joining us and welcoming the Money & Music Show "Live" backstage from the bus, during their show in Rochester, NY. Their hospitality is just more proof why the KOD Tour is getting so much publicity, hype, and love from their fans and those of all walks of life.

If you missed this week's show, as always you know it's "Official" right here, listen in to why this week's topic focused on "Diversification"...

This week's show went "live" via ustream, with Stevie Stone, Glasses Malone, & Kutt Calhoun up close and in person so all of our listeners had the opportunity to get a true feeling of what it's like on tour for these hard workers. It's not the glitz & glame you always think of, but instead a grind you have to be born to love. If you haven't checked out one of the KOD shows, make sure you check the schedule and get your tickets immediately in your town. There is a reason why this show is picked as a MUST SEE. These guys all put on a performance with true passion for what they do, giving the fans everything and more for their admission costs.

As many of our pasts shows, expressed the views of our guests, this week keyed on being diversified and when going to a Tech N9ne show, you really get an understanding of how many different audiences are out there with the love for their own style of music. We should all know by now to never "assume" and recognize that your clients, fans, customers, are your success. Without them you have no business, as the guests on tonight's show pointed out, a "Meet & Greet" custom of Tech N9ne's shows is something that allows for all audiences and people from different walks of life come out to treasure the opportunity that not all artists/entertainers ever give or maybe even thought to give before every show.

Let this week's show be a lesson, that not everyone has to like your style, flow, look..etc...but if you are able to reach a wide array of audiences, you are sure to be able to have more opportunities for success.


#Step 1

Do your research in order to formulate a plan to best reach your target market. Different cultures and groups perceive and react to advertising in different ways, so make sure you know enough about your target market to create an effective marketing strategy.

#Step 2

Avoid using ads that are stereotypical, racially or otherwise. All women are not mothers and housewives, and all senior citizens aren't meek grandparents rocking away their retirement on the front porch. Or any ethnic/sex or business stereotypes. Aside from being insulting and alienating, this type of ad only helps to proliferate these misconception and biases.

#Step 3

Place advertising with the specific media that reach your target group. Be it Radio, Television or Print ads or whatever promotional tool you see fit that would best fit your audience. However leave this to the experts consult a marketing consultant or advertisement firm but remember each does a specific task! This also includes going after non American outlets such as foreign language newspapers and radio if thats the market your trying to reach.

#Step 4

Leave your promotional material with businesses that already have a high percentage of customers from the group you're trying to target. For example, if you're trying to target the Asian market, ask to leave your advertising in grocery stores that specialize in Asian foods.(Or what ever age or race group or specifically targeting) Now-a-days word of mouth is not good enough you have to BRAND BRAND BRAND your product "VISIBILITY IS "EVERYTHING!!!!!!!"

#Step 5

Sponsor an event that will have a special impact on your target market. If your goal is to appeal to the gay community, sponsor a fund-raiser for AIDS research. Want to appeal to senior citizens? Support Alzheimer's disease research. This is a great way to appeal to the market, and you'll be doing something positive for your community as well. This also comes handy doing tax time and with give your company a great look because it shows you are NOT just concerned with selling your brand but you care about the people who purchase your product!

Stay tuned to next week's Part 2 segment, as "Money" Mike will talk more about diversification with your portfolio, and what a diversified portfolio may look like, with the understanding that each individual, family, and or business is in a different position, so we'll learn more about what it means to be Conservative, Moderate, or Aggressive, and how we should look to position ourselves based on our time horizon, investment objective, and risk tolerance.

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