Archive for Marketing Tips

The Advert

From large corporate entities to small sole traders, business owners have a shared problem: they need a way in which to promote what they do. In these days of extreme competition, customer choice has never been greater and the job of business marketing and winning their business is an exciting challenge. In many ways, the Internet has opened up a wealth of opportunity.

For example just by using Google AdWords to pin point your business address and business type you can reach anyone who happens to search in that zip code for your type of services or products accordingly. A business listing alone is not always all that enticing though, the ‘sexy’ part of your marketing campaign comes with the business internet pages you create to represent your organization, and it can be the definitive point of difference between you and a competitor.

For example if a prospective customer looking for business accounts has two businesses to choose between; one with a web site and one without, they are likely go with the one which has one.

The fact that they conducted a Google search in the first place shows they have access to and trust in the Internet. Even a simple, basic functionality page can look amazing with the right graphics and wordings. The customer can get a head start on what it is that your business can do for them, if it suits their needs, and information on how to contact you for further information.

The customer may also make on some level, a psychological contract with a prospective business, when comparing websites. Take for example a wedding boutique, the bride to be researching on the internet comes across the ideally located wedding dress store, providing her with a broad range of dress designers, bridesmaid dresses, and accessories; it has an amazing web page with beautiful photography and links to other useful websites and she is, frankly sold.

She may find it very hard to change her mind and will want to get to that store of her dreams and find the dress of her dreams. Of course the store staff have to be able to translate that passion and energy into a sale and that is something the internet cannot do for you.

For reasonable costs you can buy a domain name and by using a web design agency create an amazing, professional and on the money page to represent your business. There are no printing costs, and no need for the laborious task of walking around the streets of your neighborhood delivering leaflets. There is also no need for negotiating painful deals with local newspapers for advertising space: the advert literally hits a global audience as soon as the live button is clicked.

What is a Web Site to Your Business?

Many businesses operate large elements of, if not the whole of, their organizational function via the use of the World Wide Web. Whether it is as a means of attaining orders literally or promoting what they do, it has for many become an indispensable way in which to reach out to customers and win their belief in the product or service, and ultimately their business.

Online Presence is Essential

While it might look like there are many good reasons not to have an online presence, nothing could be farther from the truth.  And it’s not just a case of generating online sales; in fact this is one of the least important reasons for having a presence online.  Far more important is the need for visibility in a competitive market, the ability to keep customers updated and to provide a platform from which to shout about what makes your business stand head and shoulders above the competition.

No matter what your business is or what kind of customer you are targeting there are numerous ways that a website can make your business more profitable and free up your time to concentrate on taking your company onto the next level.  For example, if your company offers business insurance you can set up online forms which will provide potential customers with an instant quote without the need for spending hours on the phone.  As a business owner you then have all the details you need to follow up an enquiry with the relevant information, as well as the option to add people to your mailing list to help further your business and customer relations.  While your website may not result in an instant sale, your ability to collate useful information about your customers in order to effectively follow up and close the deal while maintaining excellent levels of customer service.

Does Every Business Need a Website?

The rise of the internet has completely changed the way we do business but it may surprise you to learn that there are a large number of companies that don’t feel they need to have a website, especially in the small to medium business sector.  The reasons for this are varied.  Some people believe that the product or service they are offering doesn’t really translate well to online sales.  Some are busy enough with the amount of custom they have that they don’t feel  it necessary to take on any more and some are just too busy to take on the extra responsibility of running and maintaining an online presence.

According to the BBC as recently as 2007 over half of small to medium businesses felt there was no need for them to have a website.  With the economic down turn this is certainly a big mistake on the part of hundreds of businesses of all shapes and sizes.

Top 14 things smart business people are doing to grow their businesses.

Make Internal Improvements
1. Monitor cash flow. Cash is king, now more than ever. Make sure your lines of credit are adequate, and pay extra attention to cash-flow projections. If you run short of working capital, manage by cash (not profit and loss statements). Monitor your numbers closely, and be ready to act.

2. Review your strengths and weaknesses. Know thyself. If you are aware of flaws in any areas of your business, remedy them now. They make you vulnerable. Similarly, find new ways to capitalize on your strengths. You need them more than ever.

3. Rethink your sales strategy. Identify your most profitable products or services, and focus your sales efforts accordingly. Use gross profit as a measure, or better yet, your gross margin return on investment.

4. Categorize your customers. Determine who’s profitable, and who’s not. If some customers are a drain on resources, either raise their prices or “fire” them. You can’t afford to carry unprofitable customers along; you need to work lean and mean right now. 

5. Improve work processes. If there are excess costs in your workflow, squeeze them out, so your business runs as efficiently as possible. Perhaps you can benefit from an assessment program such as Total Quality Management.

6. Increase throughput. During soft markets, customers often purchase in smaller quantities. Instead of turning small accounts away, find ways to accommodate them. If you can shorten lead and set-up times without compromising work flow, do so. It will add up.

7. Ramp up marketing efforts. What’s the first thing many firms do to tighten their belts? The exact worst thing: cut back on marketing. Research proves that companies that maintain (or better yet, accelerate) marketing activity during soft economies reap greater benefits later. Besides, marketing firms are hungry for business now, so you can negotiate better deals.

8. Review your compensation. You need to get the most from your work force now. If you haven’t already, put performance measurements in place and link compensation to performance. Think creatively: Can you lower base salaries while increasing results-driven bonuses? Remember, salaries are the single largest expense for most small businesses.

Seek External Opportunities
9. Create strategic alliances. Forming simple partnerships can save you money. Consider buying pools, rent sharing and equipment sharing as ways to reduce expenses. Another idea: Can manufacturers’ reps and export agents give sales a boost?

10. Renegotiate with vendors to reduce expenses. Take your rent, for example. If your lease will expire in the next few years, suggest a longer-term lease in return for cost concessions. Or, if you are in a position to pay suppliers promptly, use it to obtain price discounts and promotional allowances.

11. Target your competitors’ customers. If one of your competitors is struggling, reach out to its known customers. If those customers sense a decline in quality or fear a service disruption, they may be receptive to your pitch.

12. Even better, acquire your competitors. If you’re in a position to buy out floundering competitors, consider it, but only if it will further your own strategic goals.

13. Upgrade personnel. There are many talented people looking for work right now. If you’ve been muddling along with mediocre employees, know that they’re dragging your business down. If you can’t bring their performance up to par, do the hard thing and make some changes.

14. Keep your eyes open. Be on the lookout for fresh ideas and opportunities. Stay abreast of news and trends. Interact with other entrepreneurs to see what they’re doing. Learn from what’s going on around you, and be poised to jump on opportunities when they come your way.

When the going gets tough, smart leaders get going. Be prepared, and be proactive. Your company can not only survive the recession, but also benefit from it, provided you take the lead.

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Manage your time while working on your computer.

The original tips were taken from EJ Cooksey but I have added some more useful information. Be free to add to this list or give us some insight on how you manage your online work time.

1.       Reduce your phone time.

You may feel as if you don’t spend much time on the phone, or your phone calls are not as long as your spouse’s or your girlfriend’s, but are they really necessary during the work day? I have recently noticed that a fair amount of businesses now subscribe to inexpensive voicemail services such as www.gotvmail.com. Dedicate an hour a day to answering voicemails. When recording the voicemail message, mention that you call back your voice mails between 4pm-6pm Monday to Friday. Your callers will understand that your busy and will be expecting a call back in the afternoon. Just make sure you follow thru…

2.       Avoid constantly checking your email.

Just like the phone, you should set a side a specific time frame in the day when you respond to all your emails. If you keep Outlook or Gmail constantly open and receive reminders, you will have a difficult time focusing on the task at hand. To make sure you check your email at the same you could run a Windows Task Scheduler. The task scheduler is located in your Windows Control Panel. It will allow you to input the exact time you wish for Microsoft Outlook to open on daily basis. You will definitely appreciate this tip. It has helped me put my email checking addiction behind me.

3.       Workout a schedule with your partner or spouse.

If you work at home and have to deal with the constant distraction by your lovely family, you will never get any work done. Consider working in such hours when the house is peaceful or workout a schedule with your family members. If the space is available, also try to find a working area which places you behind closed doors. You may pick up a door lock and ‘Do Not Disturb’ sign at your local hardware shop (just don’t get too carried away). Your family will really appreciate you separating yourself off for a few hours at a time.

4.       Take your breaks!

It has been proven on numerous occasions that a break can increase your overall productivity. Why do you think a lot of companies allow their employees to work on a flex-schedule and offer longer than usual breaks?

Don't let him distract you... keep working! I love Office Space. If you haven't seen this movie yet, you must pick it up.

Don't let him distract you... keep working! I love Office Space. If you haven't seen this movie yet, you must pick it up.