Interview with New Venture Marketing Expert

            In addition to recently interviewing an entrepreneur and a new venture capitalist network, I also had the privilege to interview new venture marketing expert, Stern Dixon. Currently, Stern Dixon is the President and Founder of MarketComm, LLC. based out of Charlotte, NC. MarketComm, LLC offers a comprehensive and coordinated marketing strategy for companies throughout North America. Before starting MarketComm, LLC, Stern worked at Crumley Roberts, LLP where he created and managed a marketing department at this consumer-based law firm with 14 offices in North and South Carolina.
          I first asked Mr. Dixon, "What are some of the best marketing strategies for small businesses that you have seen?" He began to explain to me that getting involved in the local community, or geographic target area, and create networking campaigns are some of the best ways to market to new customers. Furthermore, he told me that by reaching out into the community and hosting networking campaigns and events, many small businesses are able to save money and still pull in customers. I, then, preceded to ask, "How effective is networking for a small business owner for marketing?" He replied, "If you're constantly seeing the same people again and again, it's worthless to try and network with these individuals, however, if you are seeing different people, then it has the potential to be very successful. It's important that you come prepared with an elevator pitch prepared and to hand out business cards, but it is more important to get business cards from other individuals and follow up with them."
       On the flip side, I also asked, "Do you believe that there are any particular marketing strategies that are ineffective for entrepreneurs?" He said that almost every marketing strategy has the potential to work, but it really boils down to what is specifically the most effective strategy for your business your situation. I also asked, "What is your opinion on the growth and emphasis of social media for new venture marketing?" He replied, "Too many small businesses are over-emphasizing the power of social media. While in certain cases it can be effective, often times small businesses drain too much money and time into social media marketing. In essence, an entrepreneur is just collecting names, not attracting customers, and social media has been recently very overrated."
     I decided to close our interview, much like the others, by asking, "What is the best advice you could give to small businesses on marketing?" Stern explained that it is imperative that an entrepreneur has a marketing plan, forecasted for at least 6 months, that lays out specific goals and objectives for where and how the business wants to grow. This plan needs to analyze your target market, find out who are the most profitable consumers, what it will take to reach those consumers, and how to achieve these goals efficiently and cheap. Most importantly, the marketing plan must discuss how to continue the company's long term strategy, and it is imperative that changes are made as time passes.
     I was surprised and interested by the responses provided by Stern Dixon. In these modern times, with so many technological advances, I thought it was strange to hear him say that social media is often a waste of money. In addition, I was intrigued by his responses relating to being prepared with a marketing plan. Many of the readings that we have read over the course of ENT 301 are almost verbatim with the responses provided by Mr. Dixon. Overall, I was very happy and pleased to have the experience interviewing him, and I feel that I have taken a lot away from our discussion.