bizthreads.net: Business Information for Entrepreneurs by an Entrepreneur

The Importance of Cultivating a Web Presence

Some business owners don’t feel that a web presence is necessary in their particular field.

While this once was true, today’s consumers expect businesses to have a website where they can find information about products and services 24 hours a day.

Many small businesses lose out on revenue because a potential customer bypassed them in favor of a company with a simple website.

It doesn’t matter what type of business you have: many consumers are going to want to check out your website before giving you their business.

Build a Quality Site

Of course your website is a reflection of your business, so you don’t want it to look shabby and be full of grammatical mistakes. On the other hand, it needn’t be fancy.

As long as it provides some basic information, and includes an email address where potential customers can contact the business, it will do the job.

As you grow your business, you can also grow your presence on the web. Some businesses use their website as a marketing tool and a way to set themselves up as experts in their field.

Continually Add Good Content

One plumber, for example, hired a freelance writer to post new articles to his website each week. Over time, his website included a library of articles covering pretty much any plumbing related topic the average consumer may need.

By updating his website frequently, and including a lot of relevant information, he began to get more visitors to his site. This translated into more business.

Don’t make the mistake of underestimating the importance of a website. Doing so could really cost you!

How to Drive Customers to Your Website

If you’ve got more time than money, and you’re looking for a low cost way to market your business, then you’ve come to the right place.

Here are some tips that you can use to market your business for little or no cost.

• Build a website. For as little as $5 a month you can create a website and have it hosted on GoDaddy.com.
  
  GoDaddy.com even has a place where you can design your own web pages using a variety of templates.
  
  A few keystrokes, and you can have it loaded onto your own domain, which you can purchase for as little as $2.

• Create a blog. If writing a blog seems like something only your teenage daughter would do, think again.
  
  In recent years, businesses have flooded the Internet with blogs that provide readers access to expertise from small business owners just like you.
  
  Blogs create an excellent opportunity for you to share your knowledge and get your name out to the masses - some of whom may be interested in what you have to say and sell.
  
  Check out the free easy-to-use Blogger, Typepad, or Wordpress sites for more information on how to begin your blog.

• Link submissions. Exchanging links with complementary websites is a great way to draw traffic to your website.
  
  You can ask individual site webmasters if they would be interested in exchanging links. Or, Build Reciprocal Links offers a one-stop link exchange service - in some cases, for free.

Whatever business you have, having a website is a must. By following the steps above, you’ll have customers flocking to do business with you online.

In a world of faceless entities, one-dimensional storefronts, and the seemingly endless dirty marketing tricks that abound on the Internet, building customer trust can be a real challenge for any web-based business.

So, what can you do to help convince customers that you are trustworthy? Here are a couple of ideas…

• Be honest. In a world of sleazy marketing tactics, your customers are going to find honesty refreshing.

  Don’t overstate your services and products, and don’t force customers to read the small print.

• Personalize your business. Something as simple as putting a picture of your bricks-and-mortar business, or a group shot of your employees can give your customers a sense that they are dealing with “real” people.

  Provide your physical address, phone numbers, and email addresses so your customers can contact you if they questions or contacts.

• Post testimonials from actual customers. Solicit testimonials from all of your satisfied customers. Take the best ones and post them on your website.

  Of course, keep the original notes or emails, in case the authenticity of your testimonials is ever challenged.

• Make customer service your #1 priority. Most unhappy customers won’t ever take the time to contact you, but they will tell their friends, who’ll tell their friends.

  This means you should be treating each customer as though they are crucial to your business… because they are.

  Handle problems like you would like to have your problems handled. Your customers will reward you with their trust.

Networking – It Ain’t for the Faint of Heart

Networking is truly one of the most important steps you can take in promoting your business.

It’s one-on-one co-op marketing with a smile that helps you to convey your business ideas and goals to fellow business owners.

Develop Network Strategies

But what if you’re shy and talking about yourself and your business is difficult, especially to a group of strangers?

You’re not alone. And, while shyness can be difficult to overcome, there are some steps that you can take to make it a little easier.

• If the idea of mingling with a hundred other strangers makes you a bit queasy, skip the big networking parties and join small committees.
  
  They’ll give you an opportunity to communicate with other businessmen and women - and make friends - in a less threatening environment.
  
  Your new friends will be happy to pass your name along.

• Learn not to take rejection personally. Unfortunately, rejection is just a part of selling our businesses.
  
  Much of our success at selling our wares is a result of good timing. Sometimes, folks just aren’t in a position to be receptive.

• Websites and emails offer us a great way to convey ourselves with confidence, without the face-to-face contact.

• Blogs and community chat boards offer a great opportunity to network and share your expertise.

• If you must cold-call, write yourself a script and rehearse your pitch with your friends or family until you’re comfortable with it.

Just so you know you’re not alone, here are a couple of articles with some helpful tips…

Overcoming Your Fear of Networking

6 Tips for Successful Networking

How to Figure Out What the Public Wants

If we could figure out what the public wanted, when they wanted it, and how much they’d be willing to pay for it… we’d all be rich.

That’s what marketing your business is all about. Customers are a fickle bunch. They might respond well to a particular flyer this month, and be totally non-reactive the next.

So what’s a struggling business owner to do?

Ideas So Simple They May Surprise You

These ideas are beautiful in their simplicity…

• Watch the big boys… then forget about them. They change their advertising by the week. Unless you’re blessed with a huge advertising budget, find what works for you - and stick with it.
  
  Changing your advertising too often tends to confuse your customers. Experts agree that it may take as many as 30 impressions to capture a potential customer’s attention.
  
  So hang in there.

• Walk a mile in your customer’s shoes. Well, okay, not a mile, but maybe just a moment to think like a member of your target audience.
  
  What are they looking to get from your product or service? Does your advertising motivate the buyer?
  
  Read it several times over the next couple of days to make sure your ad says just what you want it to say.

• Probably one of the best marketing secrets is to provide excellent customer service.
  
  Repeat customers and word-of-mouth advertising is worth a bundle.

If you’re in need of some good marketing ideas (and who isn’t?) here are a couple good online resources for you to check out…

http://www.melissadata.com/tips/directmarketing.htm

http://www.simplisign.com/business-tips-resources.aspx?idea=thank-you-card

Get going!

How to Get the Most Out of Direct Marketing

However you do it, the point of direct marketing is to get your message squarely in front customers in a way that will capture their interest in seconds.

Any longer, and your prospect will likely throw your message in the trash — at no small expense to you and your business.

Direct mail

Although direct mail — or, ahem, junk mail — can be a major headache for people who receive it, it can be a cost-effective way of getting your message in front of the people most likely to buy your products and services.

Regardless of how much people complain about receiving direct-mail solicitations, enough of them usually respond to make it worthwhile.

Circulars and Flyers

With a computer and a printer or photocopier, you can create all the circulars and flyers you could ever want, make thousands of copies, and blanket your clients-to-be with them.

You probably won’t get as good a response as you would from a direct-mail campaign, but it’s certainly worth a try.

Giveaways and Contests

One of the tried-and-true methods of attracting the attention of potential clients is to give something away — the more attractive the prize, the more attention you’ll get.

That’s really the whole point of promoting your business: to attract your potential clients’ attention long enough to show them the benefits of your products and services.

Incentives

Businesses commonly use incentives to get prospective clients and customers to buy.

Whether you offer two for the price of one or give a coupon for 10 percent off the next purchase, incentives are a standard tool in the marketing campaigns of big companies.

They work just as well for home-based businesses.

No matter how you slice it, you need to have a direct marketing strategy. Why? Because it works.

Boost Your Small Business with Public Relations

Because of the nature of PR— and the potential for information to be broadcast over a wide area through print or electronic media — its successful execution can lead to your message being communicated to an amazing number of people.

Publicity (newspapers, magazines, Internet, and other media)

Have you ever seen a newspaper article about some hot new local business or a special-interest TV news story about the latest-and-greatest home-based business opportunity?

By creating an interesting and positive story around your business — and getting it in front of the media — you can generate the kind of publicity you seek, drawing potential clients and customers in the process.

Press Releases

Press releases are brief summaries of company news that are specifically targeted at the media.

The hope is that newspapers, magazines, radio, television, and other media outlets will find the press release newsworthy and give it exposure.

Letters to the Editor

Anyone can write a letter to the editor, about most any topic.

It’s easy, and it offers a unique way to get your message in front of thousands of readers at a price that’s hard to beat: the price of a first-class stamp (or less, if you write via e-mail).

Seminars

Seminars are a terrific way to generate new customers and clients — and make a few bucks in the process.

After the seminar, guess who the attendees’ first choice is whenever they have questions about the subject matter of the seminar?

One of the great things about public relations is that if you have a bit of time to spend, you can generate your own PR materials and make your own contacts.

The more PR you do, the better you’ll get at it.

Strategic Marketing and Your Small Business

Even if you run a small business, it is vital to have a strategic marketing plan in place in order to stand out from your competition and to build your image.

There are various factors that form a strategic marketing plan - and all of them need to work in tandem in order to achieve the desired results.

Here are some points regarding strategic marketing and your small business.

What Is Strategic Marketing?

Marketing consists of various factors related to your business such as regular and prospective clients, investors, identifying and advertising to your target audience, communicating with all the above directly or through the media, etc.

Strategic marketing mixes all the above ingredients to perfection to achieve not only higher sales but also enhance your business’ image over time.

How Does It Work?

You will need to fine-tune your marketing strategy to attract new clients. To do this, you should satisfy their needs by offering them the right products at the right price.

Your marketing campaign should be based on identifying your target audience and their needs and then filling that need with the right mix of products and services.

In addition to attracting customers, you should also have a good delivery system in place to ensure that products reach customers on time, every time.

What Are The Advantages Of Strategic Marketing?

Your small business can enhance its reputation based on a successful strategic marketing campaign. Getting every factor to fall in place is quite difficult - but with precise planning and firm action, it can be achieved.

The results will be financially and mentally rewarding.

Strategic marketing can be compared to getting various musicians together to play in harmony and render a perfect rendition of Mozart. A proper strategic marketing plan will ensure success for your small business in the long run.

Tips for Competing in a Cost-Conscious Market

Due to intense competition and a down economy, businesses need to price their products very aggressively in order to win over the hearts - and wallets - of their customers.

While lowering prices is possible only to a certain extent, there are various other methods to attract new clients as well as earn a decent profit.

Here are some tips for competing successfully in a cost-conscious market.

• Emphasize Your Extraordinary Service. You will need to provide extraordinary service along with your products. But good service is only good if people know about it.
  
  Thus, you should implement an advertising campaign that concentrates on your high level of service to impress your target audience.
  
  Clients will not mind paying a little more if they are assured of better after-sales service.

• Build A Better Mousetrap. Instead of offering average products at rock bottom prices, try to offer your clients better quality products at slightly higher prices.
  
  Once you convince your clients of your product’s superior quality and longer life span, it will become quite easy to make a sale.

• Offer Guarantees. A guarantee will offer your clients peace of mind, especially in a tight economy.
  
  Their trust level will increase if you can offer them products with extended guarantee periods.

• Offer Free Services. Instead of lowering prices, you could offer free shipping or free servicing within a particular time frame. If you do this, your clients will be reassured that you do not plan to bolt away after selling them the product.
  
  Your response time to any inquiry, order or after-sales problem should be much faster than the rest of your industry if you want to stand out from the crowd.

By using the above tips, you can carve out a niche where price pressures will be much less; and your competitors will find it difficult to emulate your business’ strategies.

Lowering your prices will only work in the short run - but by following these tips, you will stay financially healthy over time.

Points To Consider Before Expanding Your Product Line

Once your business has managed to find its footing, then you may find it necessary to expand your product line in order to stay ahead of the competition.

While the thought is logical for the growth of your business, here are some points to consider before expanding your product line.

Keep It Related To Your Current Line of Business

This is especially true if you plan to introduce the new product in your current business premises.

If you introduce a new product just because you were lured by the high profit potential, then it could result in a lot of client confusion if the product is totally different from what your business currently offers.

Ensure That You Have the Necessary Infrastructure in Place

If your product requires a high level of technical knowledge, then ensure that you put the necessary infrastructure in place before introducing it.

Your business’ reputation depends not only on new products that you can introduce, but also how well you can take care of your clients if problems arise with that product.

Arrange the Required Financing

You should arrange for the additional money that might be needed to launch the product and financially support it for some time.

This will help you to properly establish the product until it is well-established in the marketplace.

Let Customers Know That You Have a New Product

You should make sure that your current and potential customers know that you have expanded your product line.

If you do not have a large marketing budget, at least print flyers or brochures to announce the new arrival.

Expansion is necessary for growth. By following the above steps, you will ensure that your new products get off to a smooth start and quickly establish themselves in the market.