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November 3, 2008 |

How To Grow Your Business On A Shoestring Budget

There are three, and only three, ways to increase (grow) your business. These are:

1. Get more customers;

2. Get your customers to buy more;

3. Get your customers to buy more often.

The tactics to cover all three ways would fill a 190 page book* so, in this article, we’ll cover just one component of one of the three strategies, getting your customers to buy more often.

OK! So you want me to prove that I know what I am talking about, hmm?

How can you encourage customers to buy more often? Big businesses do it with loyalty programs. Airlines do have their frequent flier programs. Credit Card companies have their Rewards programs. Many large oil companies, department stores have loyalty programs.

But they all have one thing in common. They’re BIG!

But what if you’re a small or medium business. How can you afford to set up and administer one of these loyalty programs? How can a corner deli, a small hairdresser, a local hardware store, absorb all these costs? How can you compete?

That’s a lot of questions. Let’s answer them for you.

Most small businesses, and probably you too, have said, I can’t compete with these giants and their loyalty programs, they are just too costly for my business.

One way is to co-operate with other, non-competing businesses, where a number of you in a locality or mall, get together and share the costs of the venture, thereby reducing the individual cost. That’s worth thinking about. But that’s not what we’re here to help you with today.

Every business needs, and should have, a loyalty program. That’s a fact of life.

And you can have one too Today!

It won’t cost you an arm and a leg to set up, and it won’t cost the other arm and leg to run. Nor will it take much of your time. It’s quick, easy and you can have it today.

So Listen up!

Have you ever used a Subway

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November 2, 2008 |

Marketing on a Shoestring — or Less!

You have a great product or service. The best in its field, without a doubt. You get a great new website, open your doors, and…

Wait. And wait.

You see, developing a great product is only half of the equation, maybe less. If no one knows about it, you won’t have any customers. How do you get people to find you and buy what you are offering?

It is very difficult to stand out in the marketplace today. Everyone is clamoring for attention, information overload is prevalent, and consumers have little time or money to spend looking for you. Unless you pop up on the first page of an internet search, very few customers will find you, but it is next to impossible to get on that first page without a lot of volume on your site! Classic Catch 22.

The key is for you to go out and find customers, don’t wait for them to find you!

Marketing campaigns and Search Engine Optimization providers can cost a lot of money, but here are some things you can try without breaking the bank:

1. What, you don’t have a website? You have to have a website to sell anything these days. Search around, there are many companies that will design your website just for free if you host with them on a monthly basis. You might not get the most customized one, but at least it gets you out there. Or maybe you can barter one for a service that you provide.

2. Analyze your website. That’s right, not all websites are equal in the mechanical eyes of the search engines. You need to make sure that your website has the right key words, that the density of those key words is high in your site, and that your links work, etc. Type in “Search Engine Optimization” on Google or another search engine, and you will get a list of companies that provide services to improve the rank of your website. Just reading these sites will give you a wealth of information, but using some of the free tools on these sites can greatly improve your website and how traffic gets there. Of course if you can afford it, give them some business and let them analyze your site and redesign it for you!

3. Put the word out! Write letters, articles, email your friends and ask them to email their friends. Your local business section in the newspaper probably has a new businesses feature. Submit news about your product or service to ezines. All of this is free!

4. List on Craigslist.org. Its amazing how popular craigslist has become, and listings are free.

5. For a little more money, sell on ebay or Amazon. They have a variety of services for small businesses. Their customer service workers are knowledgeable and polite, so don’t be afraid to ask questions if you don’t know how to get your product up and running. Some services cost a monthly fee, some are one time, so make sure to read the fine print.

Get ready to start making sales!

Lisa Merritt is president of Pegasus Consulting Group, Inc., a full-service grant writing company, and author of Simply: Grant Writing. Please visit her website, http://www.pegasuswriter.com, for more information or to purchase Simply: Grant Writing in electronic format to get started grant writing today. She also writes fiction and is completing her first novel.

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October 13, 2008 |

Attracting New Business on a Shoestring Budget

In a recent marketing workshop I attended, I discovered that most business owners rely on just two or three strategies to attract new business. Even well-established companies tend to rely on one or two strategies. However, there is a multitude of ways to drive new business to your door. Here are a few:

Networking. Perhaps the most commonly used approach by small business owners. However, it is often poorly executed. Many people attend a networking function and take the wrong approach by trying to meet as many people as they can. They bounce from person to person, handing out business cards like it is an Olympic event and they are vying for the gold medal. They fail to realize that the most effective way to network is to cultivate relationships and give referrals to other members first.

Referrals. This marketing strategy places a close second in preferred methods of generating new business leads. The key here is to develop a systematic approach to ensure that you take proactive approach instead than a passive one. Rather than assuming that satisfied client will refer someone to you, ask for that referral. Tell people who your ideal client is and ask for their help in finding these types of clients. The real estate agent who represented the seller when we bought our house, sends us a card every year and reminds us that she loves referrals. It is not pushy, does not sound like she’s begging, and I’m confident it helps generate new leads.

Writing. This often under-utilized strategy is an excellent way to become recognized as an industry expert. Every industry has trade magazines and most are hungry for good content. The Internet is also filled with websites and e-zines looking for material to send to their subscribers and customers. I now write at least one article every month and send it to more than two hundred publications. This strategy alone has helped drive more traffic to my website more than anything else. It is sometimes challenging to come up with ideas and to write an 800 word article but the investment of time and effort is definitely worth it.

Newsletters. This is another powerful technique to keep your name in front of your customers and prospects. Provide key insight into business challenges and offer solutions to them. In other words, help your prospects and customers solve problems. Some newsletters are nothing more than advertising so be sure to provide valuable information to your customer. Although it is less expensive to send a newsletter electronically you can issue it in paper format. A local real estate agent regularly sends out a one-page update of the housing market in our neighborhood.

Cold calling. Without a doubt, this is usually the most challenging way to market a business - I know very few people who actually enjoy cold calling. However, it can be a good way to uncover qualified prospects in a relatively short period of time. Be sure to start your conversation with a good opening to capture the other person’s attention.

Give free information. At the marketing workshop I attended, the facilitator suggested to give information to interested prospects. I have used this approach on my website and have quadrupled the number of subscribers to my newsletter in the last year. You do not need to give away ALL the information relevant to your product or service. Instead, offer information that will help your target market with their problems. For example, when people sign up to my e-zine, they receive a report that outlines 100 tips they can use to increase their sales.

Offer a guarantee. A concern many people have when changing suppliers is the risk associated with the change. They may not be completely satisfied with their existing supplier but the risk of choosing a supplier who may be worse can prevent them from changing. Eliminate this concern and offer a guarantee.

Advertising. This can be a great strategy if you know how to create a good ad. The best marketers know that great sales copy is what makes the difference; I have experienced this first-hand. When I began selling my book on my website, I generated mediocre results for the first two years. I eventually changed the copy on my site and sales have soared every since. Glance through the ads in your trade magazine and you will quickly notice that most ads focus on the company’s product features instead of on the customer’s problem. Create a great ad by concentrating on the problem you can solve.

There are many other ways to market your business and generate new business leads. However, the ideas I mentioned in this article are effective low- or no-cost options. Use them consistently and watch your sales grow.

© 2004 Kelley Robertson

Kelley Robertson, President of the Robertson Training Group, works with businesses to help them increase their sales and motivate their employees. He is also the author of “Stop, Ask & Listen - Proven sales techniques to turn browsers into buyers.” For information on his programs, visit his website at http://www.RobertsonTrainingGroup.com. Receive a FREE copy of “100 Ways to Increase Your Sales” by subscribing to his 59-Second Tip, a free weekly e-zine.

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