Successful Blog

Revenue is the Small Business Livesaver

by Leave a Comment

By Elaine Love

The facts are set in concrete; at this point it is wet concrete or perhaps quicksand because it can change. As it stands now income taxes, payroll taxes, capital gains and dividend taxes and employee health care benefit expenses are all increasing. With these indisputable facts in mind, what is the small business owner to do?

If you are like me, you concentrate on increasing your market share and your sales volume within your current market share.

Analysis, not Paralysis Wins

Think like your customer. If you were in your customer’s business, what would you like to have? Ask yourself honestly if you are delivering that ideal product or service. If the answer is regretfully ‘no,’ then what do you need to change to make it a ‘yes?’

GM suffered a devastating bankruptcy in 2009. Just two years later, they reported a record profit. With the announcement recently of a totally redesigned and improved Corvette, they are demonstrating their commitment to improved quality going forward. Even though the Corvette represents a miniscule portion of GM sales in comparison to its truck line, it demonstrates the resurgence of quality. The Corvette is the first vehicle to be launched since the bankruptcy. The customer demanded better quality and GM is responding.

What does your customer want? What are you delivering? If there is one place to cut corners, it has been proven throughout history that it is NOT in product quality, customer service or effective marketing.

Market Growth Sectors

When you started your business, you researched what was currently available in the marketplace, what you could improve on the existing offerings and what unfilled niche remained. Go back to basics and do exactly the same research all over again.

Market research studies, interviews of your customers and intelligent observations pinpoint areas in which you can improve your current product or service and add additional products or services to fill niches. Sometimes you need to create the niche by informing them of a benefit they had not fully realized they needed.

Remember Apple’s introduction of the first iPhone? Steve Jobs presented the advantages of the iPhone before the marketplace even knew they needed those features combined.

Sales Revenue

Once the areas to improve and expand are identified, take action. Make the improvements and launch to fill the niche. Keeping capital liquid allows small business owners the ability to capitalize on marketing opportunities.

Small businesses can react very quickly to sales opportunities. An unexpected but delightful powder dump (several inches of light fluffy snowfall for the non-ski informed) is an excellent opportunity to push the word out to get to Steamboat Ski Resort quickly. Take advantage of a last second deal with the airlines to offer an incredibly low rate for Valentines, ‘take your sweetheart for a spring ski trip’ deal on airfare and lodging. Search for new marketing opportunities and capitalize immediately.

Don’™t Get Ready –“ Stay Ready

If you have your postcard campaign ready to launch, call your printer and issue instructions to print and mail the campaign. Blast the offer out to the social media network; ‘the postcard is coming. Present the postcard for an extra deep discount or special bonus.’

Create a new brochure for the newly discovered market niche using brochure design templates. Create a sales campaign to highlight the benefit your product or service offers to fill the market niche, why you are the best one to offer that benefit and a compelling reason to contact you immediately for more information. When you create an impressive marketing piece and produce it through the services of a top quality printing company (for example, check out PrintPlace.com), you are proud to present your marketing materials to your sales force and the marketplace.

Consistent Brand Recognition

Expand upon the highlights of your new brochure and create booklets as additional distribution pieces. Duplicate the elements of your brochure and booklet into your website. Providing a consistent high quality image creates brand recognition. Customers need to see a consistent company image multiple times. They see your company online, see you in social media and hold your brochure in their hand; this repeated consistent image solidifies your brand in their mind and paves the way for a buying decision.

Combining high quality printed marketing materials with your online presence captures the marketplace.

Action Steps

Keep your money liquid and be ready to pounce on marketing opportunities. The best way to mitigate increased expenses is to increase revenue. Increase revenue through delivering superior products and services which fill market niches and high quality marketing to distribute your message to the marketplace. Increasing revenue is the small business owner’s lifesaver.

What is your strategy for growing revenue this year?

Author’s Bio: At home in the Colorado Rocky Mountains, Elaine Love writes about small business and the mindset for success so essential for an entrepreneur. She is the author of Emotional Ice Water. Find her on Twitter @elainelove44 or Elaine4Success.com

Are Business Cards a Necessity in Today’s Business World?

by Leave a Comment

By Deb Bixler

Do we still need to have printed business cards in the digital age?

It is a question worth answering as business cards cost money. With work at home business consultants tightening their financial belts, is the cost of printing business cards still a legitimate and necessary expense for a direct sales business?

The answer to this question is an emphatic “Yes!”

Why Business Cards Are Still A Necessity

Most everyone owns a smartphone and many people have simple apps that allow for the easy storage of contact information. However, not everyone has a smartphone and many people do not know how to correctly use their phones to store and retrieve information beyond a phone number. Business cards often contain different pieces of information. Phone numbers, a fax number, a business description, an email address, a physical address and other pertinent pieces of information are often printed on business cards.

Entering all this information into a smartphone takes more time than most people are willing to invest when they meet a new business contact. Handing a business card to someone is fast and painless.

Though we are gradually becoming a paperless society, people still want to hold on to our paper-oriented world. Until a completely digital generation has replaced the old school paper addicts, business cards will remain an important part of networking and business meetings. If someone asks for a business card, you do not want to be the one person to reply, “I don’t have one.” Not having a business card lessens your credibility and reduces the chance that you will make a rewarding business contact.

People still look through their snail mail and they still notice business cards sitting on their desks or tucked into their wallets. This is not likely to change for at least a generation. Without a business card, you will be the one left behind when trying to promote your business or service.

How to Make Your Business Card Stand Out From the Crowd

business cardThere is no denying that business cards kill trees and it is important to make sure that forests are not destroyed in vain.

Make your business card stand out from the crowd and serve as a dynamic and beneficial marketing tool.

Business cards should be printed on paper that has a nice feel and look.

The paper should be a bit thicker than normal with some texture.

The color should stand out and be pleasing to the eye. Both sides of the card should be used, though the majority of information should be on the front side.

Since cards no longer have to fit into a Rolodex, experimenting with different sizes and shapes can be a great way to stand out from the crowd.

The direct sales business is highly competitive and business owners need to use every tool available to attract and keep more clients.

Though business cards may someday become a thing of the past, they are still a relevant and beneficial tool for business owners. Until our society is completely paperless, business cards are a necessity in the business world.

Author’s Bio:
Deb Bixler retired from the corporate world using the proven business systems that made her a success working for others by incorporating them into her home business. In only 9 months Deb replaced her full time income with the sales and commissions from her home party plan business. Find her on Twitter at: http://www.Twitter.com/debbixler

Your Social Media Deficiency Could Be Costing You Business

by Leave a Comment

What is your small business doing to set itself apart from the competition?

If one of your answers is using social media, a pat on the back to you. If you’re not using social networks to promote your brand, why are you being so resistant?

Despite a number of reports that indicate more and more companies are getting it when it comes to social media, there is still significant lag time when it comes to small businesses talking about social media and actually employing it.

During a small business summit held earlier this year, Godfrey Phillips, VP of research at The Business Journals, noted the following from a study based on 2,200 interviews of business owners and top executives of companies with less than 500 employees:

* Approximately 80 percent of small business owners and major executives indicated they are now using a social network, yet just 57 percent reported doing so in conjunction with their marketing strategy;

* LinkedIn was singled out as the site most utilized for business functions (50 percent) and the least when it came to personal use by those high up in the company (9 percent);

*  Facebook was rated the least used for business purposes (12 percent) and most utilized when it came to personal functions (30 percent).

As you can see by the numbers, less than 60 percent of company owners and top execs not using social media as part of their marketing strategy means countless businesses are missing the boat. In fact, you could even say they are somewhat adrift when it comes to properly reaching out to current and potential customers.

So, you’re in charge of marketing your small business or doing just that for your boss, and social media still seems like a foreign subject at times, why should this matter be rectified?

The reasons include:

* Your brand needs social media – Given the fact that more and more consumers are using the Internet to browse for and purchase goods and services, you need to be alive and breathing social media. With a presence on the major social media sites, you can not only be promoting your brand, but also engaging with consumers, seeing what is being said about your business and staying up to speed with the competition. Not have a social media presence for your business in 2012 is akin to living in the dark ages;

*  Saving money on advertising – When you actively promote your brand on social media, think of the advertising dollars you can be saving. While there is a good chance you will still be doing some of the standard forms of promoting your company like print, and radio/television ads, social media is in essence free advertising. The time and effort required for social media advertising can prove a great return on investment (ROI) for the wise marketer;

* Customer expectations – While your business still may do a sizable portion of marketing via word-of-mouth, traditional advertising and being active in the community, social media exposes you to an infinite number of people who could be your next customers. The days of the customer waiting for you to come to them via catalogs, flyers, phone calls, etc. is in essence a thing of the past. Now, your goal is to market your business via different forms of digital marketing, including social media.

With all that social media has to offer your business, why would you avoid it in the first place?

Photo credit: blog.socialmaximizer.com

With 23 years of experience as a writer, Dave Thomas covers a wide array of topics from finding the right gutter guard for your home to starting a home business.

3 Steps to Start a Successful-Online Business

by 5 Comments

by
Danielle Rodabaugh

cooltext443809602_strategy

Take Charge

If you have a tech-savvy entrepreneurial spirit paired with an old-fashioned hard work ethic, starting a web-based business might be a great option for you. By managing web-based businesses, innovative entrepreneurs can work from home, set their own schedules and take charge of how much they earn each week. But what does it take to start, and then manage, a web-based business that’s profitable?

1. Choose a product or service in a profitable niche.

The first step to starting and running a successful web-based business is determining the products or services you should sell. As with traditional brick-and-mortar businesses, you’ll have to do a great deal of market research before you even think about starting an online business. If you want to make a profit for the long-term, you need to choose a market in which people consistently spend money. Then you need to find a niche audience within that market to specifically target online.

For example, my boss was interested in starting an online insurance company. He soon realized how difficult it would be to build one from scratch when so many national brands had already claimed substantial ownership of the market. So, he zeroed in on a very specific segment of the industry: bond insurance (http://www.suretybonds.com). This allowed him to market his company to a specific online audience that insurance providers had largely been ignoring.

You can determine whether a niche is profitable by researching keywords related to that market. A variety of free and paid SEO research tools can help you determine what your potential clients are looking for online. These tools can also give you an idea of what the competition looks like within the industry as a whole or one of its specific niches. Once you’ve gathered a comprehensive understanding of how your market works and what it’s missing, you’ll be able to develop a brand.

2. Launch a professional website.<.h3>

Once you’ve selected a niche that has the potential to turn a profit, you’ll need to launch a website that features your products or services. Although you could hire a professional web developer to create a fully customized website for your company, you might not want to invest a significant amount of your start-up capital on web design right away. If you want to keep start-up costs down, consider using a template for your website.

Free templates usually don’t offer many ways to customize the look, feel and navigation of a website; however, you can usually purchase a $100 template that offers a great deal of customization. These templates are simple for beginners to install, and many provide user dashboards that will simplify the way you manage your site’s layout, colors and other features.

3. Implement a commanding online marketing strategy.

Simply setting up a website doesn’t guarantee that customers will find your online business (http://www.sba.gov/content/setting-online-business); you’ll have to heavily market your company to garner traffic that generates sales. Paid placement advertising can drive traffic to your site immediately; however, doing so requires a substantial investment upfront. If you choose to use paid placement ads, start with a small budget and test your options before spending a ton of money.

Setting up free profiles on social media sites such as Google+, Facebook and Twitter is one cost-effective way for you to build interest in your business and attract potential customers. When you work with these sites, though, keep in mind that most of your interactions should build trusting relationships rather than promote products or services. You should focus on promoting your company though on-site content development and other SEO marketing strategies.

As a professional who works with entrepreneurs every day, I’m aware that many more factors go into managing a successful web-based business. However, I firmly believe that developing strategies to achieve these three goals from the beginning will give any new business owner a solid starting point.

—-

Author’s Bio:
Danielle Rodabaugh writes about surety bonds, business licensing and entrepreneurship at SuretyBonds.com. You can find her on Google+ or Twitter @darodabaugh (https://twitter.com/#!/DaRodabaugh).

Thank you, Danielle, for getting us started!!

–ME “Liz” Strauss

Concrete Steps Toward Integrated Virtual Marketing

by 1 Comment

Stuart Foster at The Lost Jacket has written a post recently about The Rise of Cloud Marketing:

“We’re all in.”

Cloud computing is a way of computing, via the Internet, that broadly shares computer resources instead of using software or storage on a local PC.

Microsoft has bet its future on this technology. You can find it being used to distribute .torrents, ease the pressure on servers and scale up and down appropriately. They’re “all in”, so why haven’t content creators jumped on board?

Fear and a loss of control.

The cloud breaks down and distributes and disseminates bits of information so they can be reassembled later in a more complete narrative. Marketing needs to work and think in this same way.

We can’t rely on our customers being able to see the entirety of an integrated campaign anymore. They’re far more likely to see bits and pieces of content here and there and only have a brief encounter with your messaging.

That last paragraph contains a powerful statement, and shows the inherent difficulty that businesses can have in creating marketing messages that are able to be used in different media. The difficulty is that one marketing vehicle, such as a 30-second TV spot, does not work on every platform. Sure we have seen this before, in a limited fashion, with the differences in print marketing vs TV or radio – but the entire game has changed now. Your marketing message needs to incorporate Social Media, web-based platforms, and mobile devices.

Half of my Marketing Budget is Wasted

social-media-marketingThe old cliche about marketing used to be that a business knew that part of the money and effort spent on marketing was wasted, they just didn’t know which part. A recent survey mentioned in the WSJ shows that this perception is still true in the days of Social Media:

…a separate survey of 500 U.S. small-business owners from the same sponsors found that just 22% made a profit last year from promoting their firms on social media, while 53% said they broke even. What’s more, 19% said they actually lost money due to their social-media initiatives.

The good news is that we can measure the effectiveness of these new media much better than the old media.

The bad news is that “…the latter survey’s respondents say it requires more effort than expected.” That’s right people, Social Media marketing is not a Golden Goose that lays marketing eggs for you. It takes work, it takes time. Engagement and relationship-building are the new means of marketing, even as the goal remains the same.

Find out where your customers are, then go there and listen, learn, and finally – get involved. Talk to them in their language using the tools that they use and you will have taken the first concrete steps toward integrating your marketing. Building a foundation that your business can grow on.