Wednesday, October 15, 2008

Effective, inexpensive marketing in this economy

Imagine getting in your car and expecting to get to your destination without gas. Silly, right? Now, imagine trying to create a successful business without marketing? Hmm…see where I’m going with this?

Marketing IS the gas that fuels your business.

There simply is no other way to bring revenue in the door without some form of marketing. It’s just flat out impossible.

Now, before you say “I’m just staring out, I don’t have a marketing budget”, or “times are tough, I don’t want to spend a lot”, let me stop you. You can market your business without spending a fortune. Perhaps without even spending at all.

Let’s look at some amazingly affordable marketing solutions you can implement right now:

1. Email – Do you have signature block at the end of your emails? If not, you are missing a large opportunity to get the word out. Make sure you include all the ways to contact you & even add a tag line. You’d be surprised how much mileage you can get out of this consistent branding opportunity. Make it policy that any employees must also have one.
2. Email Marketing – At every opportunity, try to collect emails from prospects as well as existing clients. You can easily do this by putting a sheet at your front desk if you have a retail location, asking for emails when calling to confirm appointments, etc. if you are a spa or medical office, etc. Then, using your existing email system (no subscriptions required) just be sure to send them something relevant & of course don’t forget to use the “BCC” line to protect everyone’s privacy.
3. Phone – Do you have a message on your after hours, or voice mail system that plugs your business? A short, simple message that states “Thank you for calling _____. The company that ____. This is ____. No one can take your call right now, so please leave us a message & someone will return your call as quickly as possible.” Remember, for a first-time caller, impressions are everything. You may also want to consider stating your cell number for client emergencies.
4. Business Cards – Be sure you have them stashed everywhere. In your briefcase, padfolios, wallet, purse, notebook, pockets – I mean everywhere! You never know when an opportunity arises to give someone your card, or to put it up at a community location. Also, don’t forget to include a business card with every piece of correspondence you send out. It can subtly say “pass me along”.
5. Write articles – If you want to set yourself up as an expert in your field, set aside time & write articles that will get people’s attention. Send them out on the web & be sure to send them to your local media outlets & publications.
6. Website – If you already have one, be sure to consistently update its content to stay fresh & of course, add to it as necessary. Learn how to update verbiage yourself. It’s not that difficult and you can save money by doing these yourself.
7. Network – Pick up the phone & call 5 people that you think will be great resources for you. Call friends & ask if someone they know needs your product or service. Ask everyone, everywhere you go & make time to network once a week. I like Fridays when people are more relaxed & open to a quick (& I mean QUICK!) chat. Then, ask those people for more referrals & the list keeps going.
8. Do reviews – Go to book sites & review books within your industry & area of expertise. Get your name out there & be sure to include links to your email & website, if you have one.

These days people are tightening their spending belts but they will continue to spend some money now so make sure it’s YOU who gets the business. And, when the economy turns around you’ll be top of mind for those on whom you made a great impression.

Good luck!

Randye

Friday, June 27, 2008

Lost Trade Show Opportunities

Several weeks ago I attended a trade show at the Javits Center (in itself an investment to show there). As usual I saw old friends and colleagues and learned about some interesting new developments, services & technologies. I am guessing I gave out at least 3 dozen business cards to those organizations that would send me more information, put me on their email lists, or otherwise follow up with me.

Much to my surprise ONLY 2 (!!) have followed up. The kicker here - it was a MARKETING conference!! OK, so if we don't get it right - who possibly can?

In fact, a couple of weeks prior to that I went to a local small businss expo at a local university in my neighborhood. Those odds were about the same, but of course one would expect more from professional marketers!

Here are some easy, affordable ways to make the most out of leads (that cost a lot of money, time & organizational effort to obtain):

1. Send only the best to trade shows - I saw too many employees text messaging, reading & NOT paying attention to or greeting people who came by their booth. If you are going to spend $10k or more to have a booth then send your BEST employees to represent you.
2. Quickly follow up - Within 2 weeks a phone call, email or other form of communication should take place. Don't spend too much time overthinking what to say, how should it look, etc. Just reach out with a sincere "it was nice to meet you" message. One person who did it absolutely right sent an email newletter saying thank you for stopping by & here are our new products. Short, sweet & very effective.
3. Be sure to strategize before you go - Have a plan in place to handle the leads. depending upon the size of your organization, the follow up task should either be turned over to sales/marketing or an administrative support person who will get it done.
4. Do not underestimate the power of perception - If you are selling an expensive B2B solution, your organization's reputation is very much on the line & the way you handle your leads is an indication of how a potential new client relationship will be handled & believe me, decision makers absolutely notice these things. A short phone call is the best way to show your appreciation & is an easy & affordable follow up method.

Remember, to PLAN for follow up & always take good care of your leads - they're your next CUSTOMERS!

Affordable, accessible marketing for all!

www.myaffordablemarketing.com

Friday, June 13, 2008

If marketing isn't an investment - then what is??

Just the other day after responding to [yet another] proposal to the same company within a year, I received word back from them that it was [yet again] not going to happen. This time the reason was because "we are investing all of our profits back into the business". Hmmm...I thought. Well, if this company doesn't consider marketing an investment, then clearly they will not give it the priority attention it deserves - even if I [yet again] offered them [yet another] "deal".

The lessons here I think are:

1. If a company rejects your proposal twice, don't set yourself up for another rejection. There are other agendas at work here & they may be using it to seek other proposals & it could possible be used against you (tho I cannot say for sure this was the case here);

2. Run quickly from any company that actually comes out & tells you they don't have money. No matter how much you discount, that's a giant red flag that you may get burned.

3. Most importantly, no matter how money you invest in technology, operations, etc. the ONLY way you will EVER bring money in the door is through MARKETING. No matter which marketing solutions you choose (web site, advertising, sales,, promotions, public relations, etc.) you MUST do something to get new revenue in the door & there is simply no other way to do it than to implement some kind of a marketing plan that is right for you busines.

Remember, you don't need million dollar marketing budgets, just million dollar ideas implemented sensibly.

Affordable, accessible marketing for all!

Visit www.myaffordablemarketing.com/solutions for more affordable marketing options.

Monday, May 12, 2008

Website lessons for small business owners

Recently I have worked with several clients to redo their websites and I have found there seems to be some recurring issues with small business owners & their relationship (or lack thereof) to their own website. There are some lessons that we can all benefit from to make the most of your site itself & your relationship with your writer, desiger, & hosting company.

They are:

1. Not owning your own URL - this is a TERRIBLE mistake. While it may seem convenient for your web designer to do it for you if you are busy, it takes less than 10 minutes to register it yourself. NEVER let anyone hold your URL hostage (especially if it is the name - or a derivation thereof - of your company). All domain registration companies allow for you to set up an administrator (the web designer) which allows them access to create it, but YOU own it. Once the site is finished, you can change the passwords so no one else but you has access to your site.

2. Not looking at your stats - this is another TERRIBLE mistake. Be sure you have access to the statistics of your own site. Don't depend on others to get them for you (they're always too busy once you've paid them). Ideally, you should check them once a week. Even if at first you don't understand what they mean, call your hosting company & they can explain it to you. Over time you should see pattern & be able to adjust the content of your site accordingly. The basics that you want to look for are # visitors per day (you can look for patterns in your daily visits), most popular viewed pages (see where you may be falling short on content), referrals (where the hits are coming from such as another site where you might have a reciprocal link, google, etc.), main entry & exit pages.

3. Not testing your contact form - if a period of time goes by & you have not received any requests for information, be sure to go in & test it yourself by filling it out & sending it. Sometimes hosting companies have issues, or sometimes it is the form itself. By demanding too many required fields (& having the form bounce back blank for leaving these blank) you may be unintentionally turning people away from the form, & therefore from your business.

Lastly, remember that simply having a website does NOT mean that people will visit it. A website is really just an electronic brochure that has interactivity. You still have to market it - don't spend money on a site, sit back & think that's all you have to do. You will find this is a big mistake & you will be wasting valuable time & resources. Be sure to back it up with a solid marketing plan to drive visitors to your site.

Happy Marketing!

Randye

visit www.myaffordablemarketing.com for more information & solutions to your small business marketing issues.

Thursday, April 10, 2008

But I took out an ad......

The other day I had a phone conversation with a potential new client who desperately needed help building his failing business and finding a new direction to take it to.

As we talked, I asked him how he is currently marketing his business, what has he done in the past, etc. His answers were almost painful to hear.

He had fallen into the trap of “I’m too busy to take care of marketing” when he had business and the revenue to support a marketing effort, and now that business is at a dead halt, he has no pipeline, no marketing experiences to fall back on and worst of all, no budget to do anything with.

His reasoning for not doing any marketing was that he took out an ad several years ago; it didn’t work, so he never did it again.

Sadly, I see this happen to so many small business owners. The idea that marketing and advertising is the same thing is an incorrect assumption.

Let’s start with some basics:

Think of marketing as an umbrella and each spoke is a slice of the marketing pie that all fits together to form a marketing strategy. Those spokes may include advertising, website, acquisition, public relations, packaging, distribution, slogans, sales promotion, pricing, sales, retention, customer service, logo, uniforms, follow ups, even how you answer your phone and the associations you belong to. The most accepted definition of marketing is soup to nuts – everything it takes to get a product or service into the hands of the end user when they are ready to buy.

Confusing marketing with advertising can be fatal and very expensive. To begin advertising without having a solid platform of what your company represents to the consumer, what your competitive benefits are, and EXACTLY who your target market is will always result in a failed advertising effort and therefore wasted dollars. Advertising is a mass form of communication used to sell your product. But it is not the only form and may not be the right platform for your business, especially if it is a specialized product or service.

Because of the high cost of advertising, it should be left to companies who have a proven business and marketing model. Why? Taking out a one time ad at a cost of $1000 is not effective. On average, it takes 3-5 touches for a consumer to make a purchase decision (if you are selling to other businesses it may take even more). If you have a $1000 budget, you are much better off running a smaller $250 ad four times. This accomplishes what is known as frequency which is the proven way to move consumers to a purchase decision.

In addition, because most small business owners do not have a marketing background, they almost always fall prey to selling features instead of benefits. Think of this example, if you told me the ingredients in a new shampoo, would I care? Most likely I couldn’t even pronounce many of them. Instead, if you told me it would make my hair healthier, shinier, cleaner, curlier, softer, etc. THEN I would be more likely to buy it because I now know what it will do for me. In other words, I know the BENEFITS.

Often I review existing or prior ads that have been used by my clients and 99% of the time I see this malady. Because they are so close to their product they know what goes into it, but not why people buy it. This is why their ads didn’t work, especially if they did just a one time placement.

Here’s a fun but powerful exercise to try for yourself:

Turn 3 features of your product or service into benefits. For example, “weights less than a pound” would be stated in all marketing and advertising as “lightweight and portable”.

Once you have the benefits down and know the right way to implement marketing and advertising, you are well on your way to creating an impactful, successful campaign that will drive revenue to your bottom line.

Wednesday, March 5, 2008

How to start a mailing list

A mailing list is, of course, a vital part of your marketing campaign. You need it to generate interest in, and activity for your business.

To start, enter all applicable names from your Rolodex. These are people you know, therefore, they are likely prospects for your business. They may also be asked to refer friends and colleagues to you as well.

Collect as many business cards as you can. Some ways to do this are through networking and exchange clubs. If you have a retail business, have customers drop their business cards in a jar and offer them an incentive, then once a month hold a drawing. For example, restaurants offer free lunch to the winner.

Ask everyone you come in contact with during your business day if they want to be part of your mailing list.

If you are a member of a professional organization that publishes a member directory, that’s also a great source for qualified names.

Here are the top five biggest mistakes businesses make when developing a mailing list:

1. Entering all the data as if it were one long entry. This will severely inhibit your list’s usability. Instead, each ‘record’ (business card) ideally should be entered using contact management software. If you don’t have that, simply use Excel and set it up so that each separate piece of information (field) is its own cell. For example, don’t enter a full address in a string. Enter the street address in one cell, the city and state in their own cells, and most importantly the zip code as a stand alone item. This allows for sortability, and when your mailing lit becomes large, sorting by zip code allows for substantial postal discounts.

2. Not using the list. By all means use it! Whether your list is currently 10 names or 1000, stay in contact with them. As you collect each name, send them SOMETHING, whether it is a postcard saying thank you, an email, even a personal call. But, never waste the contact by not offering them something. For example, a thank you postcard may include an offer for 10% off, or a FREE “something” by stopping by your store, or perhaps announce a sale. Whatever is applicable to your business.

3. Not knowing where each lead came from. Set up a simple categorization system for each name you enter in your database. For example, “A” for association meeting; “R” for rolodex; “T” for trade show. This helps you set up for future success by tracking the response of each type of lead on your list. This becomes critical as your business grows, as it allows you to weed out non-responders (thereby saving your marketing dollars!) and helps when purchasing future lists so you know what type of lead responds best to your offers.

4. Letting your list go stale. At any point in time, 10 percent of the US population is moving. If you market to businesses, think about how often people change jobs. By using your list and keeping up with the changes and feedback you get, you’ll have a much better up to date marketing tool.

5. Not respecting those that that don’t wish to be on your list. You must remove anyone who asks to be removed. This can actually work to your benefit because you’ll be saving marketing dollars in the long run. Be aware that mailers are expected to adhere to guidelines as stated on the Direct Marketing Association's website. Visit www.the-dma.org for more specifics about adhering to ethical marketing guidelines.

Lastly, make sure you have a budget to cover the ENTIRE marketing campaign. Mailing a list is just the first step. After that, you must produce and print the marketing piece; perhaps use lettershop services; and of course, pay for the postage.

Good luck in your marketing efforts and for more tips visit www.myaffordablemarketing.com!

Directly,
Randye Spina

Wednesday, February 13, 2008

Succes is in the Details, especially when mailing to a new list

I just purchased a list for use in my business as many business owners do and as I was reviewing the list I noticed some small details I wanted to change so as not to appear as junk mail when it landed in the mailbox of those business owners I want to impress.

Some hints for making the best use of a list are:

1. Be sure to review it before using it - I noticed a duplicate or two here and there due to spelling issues. Remove one of them even if it isn't obvious which one is spelled wrong. This duplication will save you money in postage and paper in the long run and more importantly, your company won't be perceived as inept on the receiving end.

2. After the dupes are gone, clean up any abbreviations - the list had more than 300 entries. In most of the entries there were abbreviations used for Street (St), Avenue (Ave) and the like. Go in to each and every line item and change the abbreviations. Yes, this can be time consuming BUT...it's worth the effort. Again, the perception on the other end is one of a higher level of professionalism.

3. Once the list is cleaned up, go through each entry - I noticed another marketing company on the list which I have chosen not to mail to. Not only is this wasteful on my part, I don't want my competition knowing any more about how I run my business than they would want me to know about them. Yes, this is one wasted lead, but it's for the greater good.

4. Don't assume anything - gender, for example. There are some names on the list that I cannot 100% identify as male or female. Be absolutely sure that your mail gets opened and read, so don't insult anyone by adding a "Mr" or "Ms" title in front of their name, it simply isn't necessary. I am especially sensitive to this as my first name is often mistaken as male. I recently received a mail offer from a CPA with the dreaded "Mr" in front of my name. I called the office & when they asked who was calling I said "Mr Spina" - boy was she confused & speechless! When I got through to the owner who signed the letter, I explained who I was, what I did & offered my services to enhance his marketing efforts. He gladly agreed he needed help!

5. Use it or lose it - when you purchase a list from any reputable list company, it will come with a mailability guarantee (usually 95% or 98%). So...mail the list & keep any returns. If they exceed the guarantee, you should contact your list broker and ask for a refund, or perhaps replacement names to make up the difference.

Buying mailing lists are a great way to get your message out relatively inexpensively, so do it, but do it right to be sure it gets opened and read on the other end!

Good luck & be sure to visit www.myaffordablemarketing.com for more helpful tips to market your small business.

Good luck & happy marketing for all!

Randye