Small Business Marketing Tips, what about asking me to return?

What do these three quotes have in common?

1. “But Paul, I don’t want to bother them.”
2. “But Paul, I don’t have the time.”
3. “But Paul, it’s too expensive and they buy from me anyway.”

They are the reasons business owners and sales people give to me for not keeping in touch with their clients.

It’s been proven time and again that the easiest client to sell a product or service to is an existing or past client. It’s also proven that they are the best source of referrals and testimonials. That said, what are you doing to keep in touch with your clients?

Do you:

1. Capture all client names?
2. Follow up with clients to thank them for their business?
3. Keep in touch with phone calls, emails, newsletters, greeting cards?
4. Ask for referrals and have a special offer, discount or gift for anybody who gives you one?
5. Ask for testimonials and get permission to use them in your marketing materials?

If not, start now. If you don’t know how, get in touch with me because I already have these systems designed and can have you trained and using them in a matter of days.

Waiting and delaying is no different than holding the door open for your competition to come in and get the business away from you. One way or another, the level of success in your business can hinge on the outcome.

Cheap Marketing in a Down Economy

I’m constantly amazed at the number of business owners who tell me they don’t contact their clients because they don’t want to bother them or because, “Nobody wants to hear about _____ (fill in the blank product or service).

If they never wanted to hear anything about it, why did they buy it in the first place? Why do people assume nobody wants to hear from them? I think a lot of it is psychological and related to insecurities and fears they may have related to having to “sell themselves.”

Do you have the “Nobody wants to hear from me syndrome?” If so, you need to get over it. Unless you are a real pain in the neck and are bothersome, the issue is not in your client’s mind, it’s in yours.

Just think about it for a minute… Say you buy something or use a companies services and the owner or sales rep calls you and asks if you were satisfied with the purchase. Do you suddenly freak out and scream, “Why are you bothering me?”

Probably not. You tell them what you thought and thank them for calling.

Now imagine this scenario… This same business sends you a card every few months to thank you for your business and asks you to come back. Once again, do you freak out and scream, “THIS DUDE HAS A LOT OF NERVE FOR BOTHERING ME!!!”

Probably not. You look at the card and offer and either keep it or throw it away. One thing that’s likely is that you have a positive attitude about them.

Your clients are the same. If you do a good job and ask them to do business again, it’s likely they’ll be back. If you ignore them because you are afraid of bothering them, there’s a good chance you won’t have the chance to bother them again.

Something to think about!

Small Business Marketing Tips – Most Businesses are Making Money In “This Awful Economy”

I gave a marketing seminar this morning to a group of about 30 business owners this morning that was sponsored by the local Small Business Development Center.  We asked the question, “How many of your businesses are doing well?”  Two thirds of them raised their hands.

Of the hands that didn’t go up, a couple of them were just starting out so nearly everyone in attendance was doing well (or faked it to be in the crowd).  Think about it, the companies that are doing well were at a marketing seminar, learning how to do better!  I should have invited a couple of reporters but I wasn’t planning on sharing any bad news so they probably would have ignored my invite.

Bloomberg reported this morning that retail sales actually ROSE 1% last month!  I wonder if the lead-in story on the national news will cover it tonight.  I don’t watch the news so I guess I’ll miss it but I just did a quick look at abcnewscnncbsnew.coms and none of them mentioned it.

Now, I don’t doubt that a lot of industries are hurting, BIG TIME but it shows there is opportunity.  The worst thing to cut in a recession, marketing, is the first thing way too many companies cut in a recession.  Then their sales suck and they say it’s the economy.

If I were to quit marketing, my sales would suck as well. However, over the past several months, I’ve busted my butt to get new clients and it’s paying off, big time.  A recession is acutally good for my business.  Smart companies realize they need to do smart marketing so they call people like me.

That’s a good note to end this post on.  If you want to increase your sales and are ready to do what it takes, call someone like me. Actually, strike that last remark.  Don’t call someone like me, call me. 513-829-6368.

Top Small Business Marketing Tips – Spend Less to Make More

With the economy slowing, business owners are contacting me more frequently asking what they can do that is is new or different to spur on their business and turn things around.

“Paul, do you think I need a web site?”

“Should I advertise on TV or the radio?”

“Should I join BNI or another networking group?”

“I need something really kick-ass to get people buying more.”

These are all things that I am hearing.  Whether the economy is slow or not doesn’t impact my response.  It still comes down to the basics:

1. Set yourself apart from your competition and give your prospects and clients a good reason to buy from you now with a powerful Unique Selling Proposition. Here’s mine – I’ll increase your sales 20% or more in as little as 90 days, guaranteed.  That’s unique and it gets me business.
2. Be sure that every staff member who is in contact with a client understands basic selling skills. Each of them must kn0w and be given incentive to cross-sell and up-sell.  Focus on increasing the value of the transaction.  I’ve increased client sales by over 10% in 30 days just teaching this one!
3. Get a database program and develop a relationship with your clients.  Communicate with them monthly and ask them to buy from you again.  Ask for testimonials and referrals. Have a strategy to work the referrals.  Add a newsletter and start sending birthday cards and other greeting cards.  This can easily result in another 10% increase in your sales.
4. Get a few joint venture partners with whom you can share lists and market to each others clients.  You endorse them and they endorse you.  It’s that simple. Last year, I made over $24,000 in sales from joint venture referrals.  My total cost was less than $400.  If you aren’t doing joint ventures, you ar leaving a fortune on the table.

There you go.  4 strategies that can easily increase your sales by 25% or more this year. The key is to act now.  It’s smart marketing that can make you an absolute fortune and will save you an absolute fortune in advertising fees.

The reason I guarantee my work is that I implement the above 4 marketing pillars in my clients.  If you are wondering if I can do the same in your business, be sure to drop me an email or give me a call at 513-829-6368.

Small Business Marketing Tips for Increasing Profits in a Down Economy

When I watch TV, listen to the radio or happen to flip through a magazine, I like to pay attention to the ads to try to see if they make any sense. I’m one of the weird marketers who thinks the primary purpose of an ad is to increase sales.  If brand awarness is also heightened, that’s a plus.

I’ve had a lot of high paid marketers tell me I’m full of it and that I don’t realize the value of a brand.  To me, the value of a brand is in the sales and profits it generates, not in how many people recognize the name.  I live in Cincinnati, Ohio, USA, which is home to the largest advertiser in the world, Procter and Gamble.

I’ve heard the CEO, A.G. Lafley speak and have read several quotes of his.  When he speaks, he talks about company profitability and sales.  He mentions brands as they contribute to profitability, not how they increase the awareness of the P&G name.  I pay a lot attention to P&G ads.  Every one of them highlights the benefits of using the brand.  Whether it’s whiter teeth, cleaner clothing or cleaner floors, the ads promote what the brand will do for the consumer.  The brand is built and strengthened and more people buy it because it works, not because they’ve heard about it!

The lesson for you, the small business owner/marketer is to realize your ads have one purpose and that is to  generate sales, not awareness.  When the creditors are at your door, you’re paying them with money, not a brand name.  Next time an agency or media rep tells you about brand-building, say “Great!  How will I track sales results from the ad?”

In a slow economy, it’s not time to cut back on marketing or advertising, it’s time to make sure you’re getting a good return on it.  Market smart.  Write good sales copy.  Make your marketing work for you.  Let your competitors build their brands. You can say hello when you are at the bank making deposits resulting from your marketing while they are making withdrawals to pay for theirs.

Small business marketing tips to profit in ANY economy

Quote from Mr. or Mrs. faltering business owner, “Oh no, the economy is “bad” I better not buy anything. I better cut back on my marketing. I think I should save my money just in case the “bad” economy cuts into my cash flow.”

Does this sound familiar? Let’s move forward 6 months and ask Mr. or Mrs. faltering (soon to be failing) business owner, “How’s business?” They will reply “Oh this economy is killing me. Sales are way down. I’m not getting any new customers and I hear from fewer old customers than I used to.”

I say, “Hmmm, Mr. Owner lets look at a few other factors. Last year in the first quarter, you spent $10,000 on marketing and this year, $1,500. Last year, you sent your newsletter out monthly and this year, you cut it from the budget. Last year, you conducted sales training every week but this year, you decided the trainer was too expensive. Last year, you sent every client a thank you card for visiting the store and also sent out birthday cards. This year, you cut it from the budget.

Now, let’s look for the underlying cause of your sales shortfall. Because the media telling you the economy is bad and people are not buying, you slashed your budget on strategies that brought you clients, sales and profits.”

Hey, I’m a realist! I’m aware that the economy is faltering but the worst thing you can do is to stop marketing. If you are going to cut marketing, cut the marketing that is not delivering a measurable, positive return. If you don’t know your return, you need to calculate it. Drop useless image advertising that doesn’t deliver clients or prospects.

Learn and implement direct response marketing. That’s the marketing you see that has an offer and tells the prospect to act. If it’s good, you get a response and make money on it. If it’s not good, nothing happens and you lose money on it. Set a system to measure and track results. Determine your ROI and remember client lifetime value. If you break-even or lose on the initial transaction but know the client will be highly profitable over the next year, that’s good!

The lesson here is simple. A down economy is a bad reason to cut good marketing and a good reason to cut bad marketing!

Small Business Marketing tips to Profit in a Recession – Advice from a Friend at the Small Business Development Center

I’m going a bit off topic with this post. My past few were about the importance of leverage and systems. I’ll be going back to the topic but I had a conversation with a Joint Venture partner today that I wanted to pass along.

He and I are both small business marketing and growth experts and are giving a Growth Strategy Seminar for our local Small Business Development Center (SBDC) clients. The SBDC is an organization funded by the Small Business Administration (SBA) that has a mission to help Americans start, build and grow businesses.

The Director of the local SBDC is a friend of mine who used to be president of a fairly large, worldwide insurance company. He’s working with the SBDC now because of his passion to help the small business owner succeed and prosper. In preparation for the seminar, we asked him what are the most important messages we need to communicate to seminar attendees (particularly in light of the tough economy).

Here is what he said is the most important marketing messages that business owners need to know:

1. Keep on marketing. This is no time to cut back on the life-blood of attracting and keeping clients.
2. Know your customers, their needs and why they are buying your product or service.
3. Have all clients and prospects in a database so you can regularly communicate with them and give them reasons to purchase from you. Use your database to build demographic and psychographic profiles of your target market.
4. Market to your target market. It is a huge waste of resources to be marketing to people who are not prospects. Unfortunately, most businesses spend the majority of marketing resources on people who will never buy from them.
5. Give clients a consistent experience. Remember that your product and service are elements of your marketing mix. For years, the buzz word has been “exceed expectations,” which is great but the first part is to provide a consistent client experience. Most people expect, and are satisfied if you do this.
6. Track and measure what marketing is working. If you don’t track, you don’t know if it is working. If it isn’t working, you are wasting resources. If it is working, you want to build on and improve it to maximize results.
7. Don’t try to find the magic bullet. Small improvements in different areas can yield exponential increases in sales.

There you have it. If you find yourself swimming against the tide or so overwhelmed with what you should be doing next, you want to give me a call. If you want to see how you can achieve dramatic increases in sales (or to just stop the bleeding!), you want to give me a call. I look forward to hearing from you.

Small Business Marketing to Up Your Profits in a Down Economy with Marketing Systems

One of the single biggest marketing problems I see with small businesses is the lack of a marketing system. Every thing they do is tactical and is rarely planned, budgeted, tracked or measured.

A media rep comes into the business and says, “You need my product to get clients.” TV, radio, newspaper, Yellow Pages or an agency. The thing is that they all have compelling stories and loads of statistics on impressions, market awareness, branding and loads of other marketing terms. Which do you choose?

Most businesses are in a “trial” mode and will keep trying whatever is sold to them, hoping that one of them will be the magis bullet. Worse yet, they continue running an ad without knowing if it is generating the results they need. They think, “Hey, I’m getting my name out there.” When somebody needs me, they’ll give me a ring.

As the spider webs gather on the phone, the owner gets frustrated, the ad rep tells them they need to run a larger ad or run it longer. That’s a bunch of garbage. If you had an investment that was tanking and your broker told you to wait or invest more, you’d find a new broker.

Before you advertise, you need to think of how you are going to systematize your marketing. The advantage of the marketing system is that you can actually plan on results. Wouldn’t it be nice to know if you implement a certain element of your marketing system, you will most likely make a fairly predictable amount of profit?

Companies all over the world are doing it everyday. The owner knows what business is coming in and where it is coming from. Once I set up a system in a business and test my materials, the owner knows that if they send out a certain mailing to their clients, they will make a predictable return. If they run a particular ad with a particular offer, they know it will make them a predictable amount of money.

You can do the same in your business. In my previous posts, I talked about leverage. Now we are into the systems and the types of systems that you can build in your business. I make money and get referrals through the success of my clients, not due to the size or frequency of their media buys. Stick with me and I you will learn the basic elements of implementing my powerful and guaranteed Hidden Asset Marketing System in your business.

Small Business Marketing to Up Your Profits in a Down Economy

In my last post, I introduced the concept of LEVERAGE and the impact it will have on your business when you understand and integrate the concept into EVERYTHING you do. I wrote about leveraging every contact and individual in your business and network for to maximize the benefit to them and the profits to you.

This post is about leveraging and systematizing communications. When you prepare any client or prospect communication, think beyond using it for that individual and instead create it as a template for a communication you will be using repeatedly. Whether it is a thank you note, collection letter, sales letter or proposal letter, you can use it again. Create it as a mail merge document so you can maximize efficiency.

Does your staff send out personal communications? They should be sending out the same materials so you have control of the message and content as well as to improve their efficiency. Think of it like this: Do you want an employee who is having a bad day or is planning on leaving you to be writing to your clients and prospects without your oversight?

Do you want a sales rep who should be in front of clients and prospects to be spending hours or days preparing communications and proposals? Remember that it is human nature to find activities to fill the time available and many feel as long as they are doing something, anything, they are working, irregardless if it is actually productive.

Do you have an online or offline newsletter, autoresponder, ezine, blog, Web site or participate in social marketing sites like facebook? If so, you have massive opportunities to leverage and create a system in which one communication can be used for each of the marketing tactics.

If you properly structure all of these communications, you will have the materials required to prepare special reports to use as an incentive to get clients to sign up for your newsletter. If you combine the special reports, you have the material for a book or information product!

The majority of the materials and posts you read that I write are either from a special report that I’ve already written or are being compiled for a future report and book.

Leveraging and systematizing your marketing and business are so important that I will devote a lot of posts and notes to them. After all, I need materials for my book, don’t I?

Up your profits in a down economy – Increase client value

In this order, these are the easiest people to sell to:

1. An existing client
2. A past client
3. A referred or endorsed client
4. A cold prospect

This list is an established fact. Even knowing this, where do the vast majority of companies spend the majority of their marketing dollars and effort? On number 4, the cold prospect. Nearly every client or prospect I speak with spends little, if any of their marketing dollars strengthening their relationship with their existing clients.

The thing is, most of them realize they should be keeping in touch with customers but still do nothing about it. Very few companies even have any process or method of getting basic contact information like name, address, phone number, email address or a list of the products purchased by their clients. According to a study conducted by the Direct Marketing Association, for every month that passes without your contacting your clients, there’s a 10% reduction in loyalty to your business.

For about $10 to $15 per client per year, nearly any business can build a customer contact program that will dramatically increase their sales and profits at a fraction of cost of obtaining a new client. Ideally, you will have 12 to 14 contacts per year. Rather than looking at this as an expense, look upon it as an investment in the lifetime value of your clients.

The key to success in your client contact strategy is to include an offer, a coupon, a discount or other reason for your clients to contact you and purchase additional products or services from you.

In my next post, I’ll list some of my favorite client contact strategies and tactics you can use to increase your profits.

Till then…
Dedicated to multiplying your sales!

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