Save Your Advertising Dollars by Saying "No"

As small business owners, so many of us have fallen prey to the smooth talking media sales reps.  The minute you open your doors for business, sales reps from the TV stations, newspapers and radio stations are the first ones in your door.  In their hands they have what I like to call “the deal of the week”.  You know you need to market your business, especially when you’re just starting out, so you sign up for these promotions because they’re “a limited-time promotion” and “you’ll never get a better deal”.

I have a client who, when I first met her, had spent over $15,000 in advertising the previous year.  Her comment to me was “I’m not sure if any of it worked.”  This was a very clear example of someone who had been too nice to say, “No, thank you” to the sales reps.  I understand that sales reps need to make a living.  I get that.  What I’m saying is that you need to be smart about where you’re spending your money.

Before the sales reps ever come walking through your door, here are some things you need to do to save yourself a lot of money.

1. Know your customers very, very well.  I don’t just mean your existing customers, but who your ideal customer is.  Who do you want to communicate with?
2. Know where your customers are.  Do they read a physical newspaper or do they read an online newspaper?  Maybe they don’t read a newspaper at all.  Maybe they follow their favourite media online and get updates through social media.  You can’t communicate effectively to your customers if you’re not sure where they are.
3. Create some marketing goals.  These goals will stem from your overarching business goals.  Do you want to attract a new demographic?  Do you want to introduce a product or service?  Decide what you want.
4. Establish some tools to measure the effectiveness of your marketing campaigns.  If you have no way of tracking what’s working and what isn’t, you’ll never know what forms of advertising to use.  This is precisely why too many business owners wind up spending way too much money on their advertising.
5. Stick to a budget.  When you develop your marketing plan for the year, you need to create a budget to work from.  Stick to that budget and don’t be afraid to tell the sales rep that this current promo doesn’t fit into your budget.

Now, every time a sales rep walks through your door with the latest “limited-time promotion” stay strong and walk away from the “deal” if it doesn’t fit into your plan.  If it does fit into your plan and budget, take advantage of the deal.  Work closely with the sales rep to make sure the ad copy addresses the campaign goals and you’ll be all set.

Exceptional Service - The Cornerstone of a Successful Business

Marketing is so much more than just advertising.  I’m going to say this until every small business owner gets that through their heads!

Marketing ≠ Advertising

Marketing is a complete set of activities working together to create a positive, memorable brand image of your company.  And one of the most important parts of that is the level of customer service that the customer perceives your company provides.  It’s not just about what level of service you actually provide; it’s about what the customer perceives to be great service.

Having worked in retail management for so long, I am probably now the pickiest customer out there.  I worked hard to create amazing teams of staff members who delivered exceptional service and went above and beyond for each and every customer.  So now, when I go into a store I automatically take note of everything going on in the store.  I pay attention to the cleanliness of the store, the visual layout, the friendliness and professionalism of the staff, and how knowledgeable and customer-oriented the staff are.

These are just a few of the things managers and business owners need to be keenly aware of.  Yes, I’m the picky customer so I notice stuff that maybe other customers wouldn’t be looking for.  But why not strive to impress even the pickiest of customers.  Even the customers who might not have paid attention to the small details will be very happy with what they perceive as “exceptional” service.  After all, who doesn’t want to feel special?

We’ve all had some bad customer service experiences in our lives and they remain stuck in our memory forever.  But fabulous, amazing customer service experiences also stand out in our mind.  One experience stands out in my mind so clearly… and it happened over 9 years ago!  My husband and I had taken our 2 boys to Ottawa to visit my brother and some friends of ours.  We decided to take the boys (who were 2 and 7 at the time) to Moxie's Restaurant for dinner.  The waitress we had that night was absolutely phenomenal.  She did everything possible to make sure our kids thoroughly enjoyed themselves, which of course made the meal that much more enjoyable for my husband and I.  Now, every time I see a Moxie’s Restaurant, I associate the place with happy thoughts and fully recommend the place to all of my friends and family.

That’s what you want your customers to do.

Take an honest look at your own business.  When you take out the bias you have towards your own way of doing things and really look at things from a customer’s perspective, you may not like what you see.  So, don’t scrimp on your training budget when it comes to fully training your staff on exceptional customer service.  Remember that that memorable  image will remain in your customers’ minds for a very long time.

5 Ways To Create Effective Advertising

Advertising is an important part of any marketing plan. But with so much focus on social media these days, you'd think that advertising isn't worth the cost. However, done right advertising can be a really important part of your marketing strategy, especially with a good mix of online and traditional advertising. If you've ever attended one of my workshops or even read some of blog posts you'll know that I am all about consistent, integrated marketing. That means that all of your marketing activities need to work together in a systematic approach to achieving your business goals. And advertising is one of those activities.

The biggest advantage that advertising has over other marketing activities is the sense of control. With proper target marketing you can control (to a point) who sees or hears your ad and you can control when your ad is run. The key to effective advertising is knowing what your objectives are and how you want to approach your campaign. 

Below are 5 elements that you should consider in order to make any form of advertising effective.

1. Advertising should have one of 3 objectives... to inform, remind or persuade your audience. Know what your goals are before you even think about writing the ad. The desired outcome will ultimately determine the look, feel, sound, and distribution of the ad. The goal of most advertising should be to start a relationship, not sell a product or service.

2. Be realistic about what an ad can do. If you are running a small online ad chances are it will be pretty unrealistic to expect a multi-thousand dollar sales achievement from 15 words and a link. When setting your advertising goals, set a realistic goal and set a ‘stretch’ goal to strive for. Also, know that advertising alone cannot be the only metric to measure your success by. There are a lot of factors that go into the buying decisions of consumers.

3. Advertising, both online and offline can be and should be targeted at a narrowly defined viewer. If a radio station that tells you that 75% of its listeners are 18-55 that isn't narrow enough. Know your ideal customer really well, what they want and how they want to communicate with you before implementing any advertising.

There are lots of resources out there to help you learn more about your ideal customer but Google AdWords is a great tool to find out what your customers are looking for. Group your Google AdWords into very tightly crafted keyword groups to target people looking for very specific things. You can also find geo targeted mailing lists and then cross them with lists of people that buy a similar product.

4. Measure everything

The most successful business owners, managers and marketers can tell you exactly how every element of their marketing is performing and why. It takes a great deal of work to get serious about things like analytics and tracking, but you won’t really succeed until you do. By taking the time to create a process that allows you to measure every aspect of your advertising you can see what's working and what isn't, allowing you to make necessary changes and further improve on what is working all the while staying tuned in to what your market wants more of.

5. Test, test, and test again

This last element goes hand in hand with measurement, but takes it a step further. Once you have a baseline you can start to work on improving your results by simply tweaking things like headlines, calls to action, visual elements, keywords, content, publications and lists. Once you know what’s working in one place you can expand on it to test it in other places. Google AdWords is an inexpensive way to test thing out before broadcasting more widely. As for online advertising, particularly in social networks, you also might want to test out new social networks and their advertising structure to get a feel for what works and what doesn’t, providing it reaches your target audience.

So, even with the advent of social media, advertising still has its place in your marketing strategy. Advertising has changed its distribution channels over the years and that will continue for many more years to come. But no matter what distribution channel you use, whether it’s online or off ine advertising, using these tips will allow you to create advertising that resonates with your customers.

Create a Marketing Strategy in 3 Easy Steps

I just came to the realization that all of my blog posts just dance around the topic I am the most passionate about.  And that’s strategy.  I’ve written about integrating your marketing, 3 easy steps to creating a marketing budget and I’ve talked a lot about building a brand.  So, today I decided that I’m just going to lay it all out there, straight forward, step by step on how to develop a strategy before you even attempt to spend $1 on any of your marketing.

Developing a strategy is by far the most important step when marketing your business.  The biggest mistake small business owners make is that they know they need to market their business, but they don’t know where to start.  So, what happens is that they get roped into these “deals” from ad executives from the local newspapers, and radio and TV stations.  They wind up spending hundreds or thousands of dollars on advertising but don’t really know whether it worked or not.  Well, let me walk you through a 3-part process to help you develop a strategy so you don’t spend any more money on advertising that doesn’t work.

Part 1 – Brainstorm:

This is where you throw out every possible thought that comes to mind.  Sometimes the crazier the better.  I have found that sometimes a member of the team will throw out some weird and wild idea that ultimately we end up using some or all of that idea.  But this is also the time to define some really key things such as your intended target market, your goals and your budget.

One of the most important keys to developing a strong marketing communications plan is to determine your target market or target markets and know what they want and how they want to communicate with you.  The trick is to discover what that ideal customer looks like in the most specific way possible and then go about building an entire marketing strategy around attracting more of these ideal customers. 

Part 2 – Budget:

This is where most of my clients get the most stressed out because they haven’t allocated any specific amounts to their business activities.  They are really just “winging it.  If you don’t have a plan this is where you can get into trouble with your spending and then it really will be too expensive. 

1.       To create a marketing budget for the year, set your budget between 5 – 10% of your gross annual sales.  When you think about it, $100,000 is sales with a marketing budget of 5% only gives you $5000 to work with for the year.  This is where the creativity comes in, knowing where to best allocate those dollars.

2.       From that budget, develop marketing campaigns for the year.  Then develop a budget for each campaign based on the yearly budget you have just set for the company.

Remember that advertising doesn’t have to cost you a fortune.  Leave the big marketing budgets for the big corporations who have the money to spend on it. 

Part 3 – Metrics

Now, you need to set metrics for tracking the direct impact of each campaign on its ability to help you reach your marketing goals.  If you have nothing to measure your marketing efforts with you won’t know whether or not your marketing is actually working.  Some common metrics include number of click-throughs on an online ad, number of new sales, number of new leads or percent increase in traffic to the store.  In order to be useful, metrics need to be measurable and quantifiable.  So, make sure you define them specifically with numbers and then break them apart into tiny segments that you can work towards achieving.  Review last year's sales records so you have something to which to compare this year's sales. Here is where good record keeping is essential. 

An increase in leads or sales over last year's numbers might indicate that your current marketing campaigns are actually working but don’t make the mistake of putting all of your eggs in one basket.  One marketing activity cannot be held accountable for your total business success.  So be sure to have a variety of metrics to track.

So, now you have an idea of how to create a strategy before you actually go about spending any money on your marketing.  For more in-depth information, download the video below.  This video is from a webinar I presented a few months ago and gives you a much more detailed step by step process to creating a strategy that works.

Strategy Before Tactics

I always love hearing from small business owners to find out how you do things.  I’d love to hear your input on creating a marketing strategy.  Tell me how you created your strategic marketing plan.

 

3 Easy Steps to Creating a Marketing Budget

Setting budgets is so critical to any business, big or small.  But I often see so many small business owners just winging it, not really knowing where all of their money is going.  I’m not an accountant but staying on budget is crucial to my job.  Everything I do is based on a budget.  Without a budget or a plan, a business runs the risk of spending more money than it is taking in or, conversely, not spending enough money to grow the business and compete. We all know that we need to spend money to make money and we want to save as much money on those expenses whenever possible.  But how do you determine how much to spend on marketing your business?

Creating, monitoring and managing a budget does not have to be a scary, overwhelming thing.  Even if you have no accounting experience or if you don’t think you have enough time in a day to do it, it really is imperative that you take the time to do it… and do it well.   It will allow you to allocate resources where they are needed. You simply need to work out what you are likely to earn and spend in the budget period.  Here is an easy 3 step plan for creating a marketing budget that works.

Step 1:

Start by creating budgets for the entire year. Be realistic about your projected sales for the budget period.  If you overestimate, it will cause you problems in the future.   Develop separate budgets for marketing, inventory, payroll, and anything else that you will be required to spend money on.  Continuously check to make sure your budget balances and that your numbers make sense.   

Don’t forget to work in a salary for yourself.  I see this happen all the time, where the business owner sinks so much money into the business that they don’t bother paying themselves. 

Step 2:

To create a marketing budget for the year, set your budget between 5 and 10% of your gross annual sales.  When you think about it, if you only have $100,000 in sales with a marketing budget of 5% that means you only have $5000 to work with for the year. Choose a number that you are comfortable with but a substantial amount of money to achieve all of your marketing objectives.  In step 3, you will need to use your creativity to know where best to allocate those dollars. 

Step 3:

From the budget amount you determined in step 2, develop your individual marketing campaigns for the year.  Determine a budget for each campaign based on the yearly marketing budget you have just set for the company.  Make sure you align your marketing goals and objectives with your campaign planning and spending.  You may need to put more money into marketing activities in one or two months in the year, especially if you’re running a strong campaign or if you run a seasonal business, and less in other months.  Just really take a look at your marketing goals and make sure you’ve budgeted enough money for each of those activities.  If that 5% you allocated in step 2 isn’t enough, go back and adjust your numbers. 

Remember that advertising doesn’t have to cost you a fortune.  Leave the big marketing budgets for the big corporations who have the money to spend on it.

It’s going to take some time to play with your numbers to make everything balance.   That is ultimately the goal… to make sure you’re not in the red.   Stick to your budget as closely as possible, but review and revise it as needed. Remember it’s a plan, a guide to your business finances.  It’s not set in stone, but constant review of it is essential to make sure you know where your business stands.

 

Creating a Positive Company Image During the Holidays

The holiday season is upon us in full force.  Santa is at the shopping malls and in parades all across the country and people are lining up outside stores to get the best deals on gifts.  But lately over the past several years, I’ve noticed a difference in how people approach the holiday season.  Have people gotten more lazy, less thoughtful, less considerate,  andless respectful over the years?  Or am I just getting old and expect some good old-fashioned manners?

Maybe when I was younger I just didn’t notice, but it seems that people are now a lot less thoughtful.  I realize we’re all busy, trying to do too much to make Christmas a wonderful experience for everyone we love.  But imagine that every time you step out your front door that you are a representative of your company.  No matter what position you hold in that company, whether you are the CEO or the stock boy, you represent that company every time you talk to someone.  You may not be talking business, but the image you project will be remembered by the people you spoke to.

 

Marketing is about creating a positive image in the minds of your customers.  And there are lots of marketing communications tools to do that with.  But have you ever given much thought as to how your personal image reflects on your business?

Remember that no matter who you’re talking to, that person could someday be a potential client or may refer you to a friend who could give you your next big break.  I know we’re all busy, but this season when you’re out running around, take the time to say please and thank you to the sales associates helping you, be considerate of the other shoppers, help someone just because.  These are not only good business practices but they are things that should be in everyone’s daily repertoire anyway.  

So, like I was saying it’s a busy time of year.  People are rushed and tired and sometimes in a grumpy mood and we’ve all seen people at the grocery store in their pyjama bottoms.  Think about this before you leave the house… you never know who you’re going to meet throughout the day.  I doubt you’d want your first meeting with a potential client to happen in your jammies!  I'm not saying you need to go shopping in a business suit, but getting dressed is a good first step.  And, remember that Santa’s watching… so you might want to make sure you’re on the “nice” list and not on the “naughty” list!

Five Questions to Ask a Marketing Consultant

In our last blog I told you about some of the things you need to have prepared before hiring a marketing consultant. But something else you need to have prepared is a list of questions that you will want to ask a marketing consultant before you sign any contracts.

People are sometimes skeptical of marketer, associated marketing with pushy advertisements.  But marketing is not just advertising so please don’t think of us like a slick, used-car salesman.  It’s very rare that you will encounter a consultant who is greedy and just out to screw you over.  Highly skilled, quality marketers adhere to very strict policies and procedures.

But just to make sure you’re comfortable with the working relationship here is a list of questions you will want to ask.

1.       How will you direct my marketing only to prospective clients so I don’t waste money on reaching the wrong people?

The marketing consultant should ask you what type of customers you want to attract.  You should have a general idea of your target market but the consultant should be able to help you refine it.  With this information the consultant should be able to give you some ideas on how to best reach these people.  Any knowledgeable consultant will give you some ideas during your initial interview but will let you know that your overall communications plan will develop over time, with a plan and a strategy created before any communications are implemented.

2.       What qualifications do you have in marketing and business?

College or university courses alone will not create a competent marketing person.  But it’s at least a step in the right direction.  I personally have both a college diploma in Business Management and a university degree in Marketing Communications.  However, real world experience allows the consultant the opportunity to apply what they learned in school to real situations and to learn what works and what doesn’t.  Your consultant should be able to provide you with a portfolio of work they have completed, including clients you can call for a reference.

3.       Have you ever worked in sales?

Working in sales is the best way to learn how people make buying decisions.  I actually started working when I was 15 years old and almost all of my jobs have been in some sort of sales role.  I have over 20 years of experience in the retail industry, having been a sales associate, a store manager, an area manager and a regional manager.  I have won several awards over the years for my selling and management skills and in the process I learned a lot about people; how they think, how they solve problems and how they make buying decisions.  Hiring a marketing consultant who has an extensive understanding of sales, the selling process and the buying process as well as insight into consumer behaviour is a huge advantage to you when developing your marketing plan.

4.       What is your marketing background?

There are lots of people out there who claim to be a “marketing consultant” or “marketing service provider”.  But let’s make something very clear here.  Marketing is not advertising.  It’s not just about writing a press release or creating a logo.  Nor is it about creating a website or writing a blog.  It’s about developing an overall marketing strategy to work to deliver your core message to your specific intended target market.  Many people understand methods of communication or are very creative and talented in their own industry.  But marketing relies on both the method of communication AND the message.  The most powerful methods are of no value if they deliver a poor marketing message.  So, make sure the consultant you hire has in-depth experience in marketing, not just design.

5.       Besides marketing, in what areas do you consult?

None.  In fact I limit my consulting to a specific type of marketing, a specific type of client and a specific type of relationship.  I specialize in working with small businesses, but not all small businesses.  The clients I help are small business owners with companies that employ less than 100 people and are located in off-the-beaten-path, rural areas of the country.  My clients have very specific needs that are unique to them because of their proximity to (or lack thereof) services often only available in large urban centres.

Marketing has branched out into dozens of sub-specialties.  When looking for a marketing consultant you need to determine if their specialty is right for you.  There are some marketing consultants who say they do it all.  However, they generally have experience working with many types of clients but often not many of any one type.

Asking these few questions will give you a feeling about whether or not this will be a good working relationship.  Remember that when you’re hiring a marketing consultant, this is a relationship you will want to nurture over a long period of time.  As your business grows and changes, your marketing needs will also change, so having a consultant you can trust is vital to the success of your business.

 

Things You Need to Know Before Hiring a Marketing Consultant

Have you ever watched the show Dragons Den?  Or the American version, Shark Tank?  I’m addicted to watching those shows every week.  There are a few of the Dragons and Sharks that I would love to partner with in business and some that I could do without.  Some of the Dragons and Sharks have changed over the seasons and some have made a big impact on my own business decisions. 

I think what’s really amazing to me when I watch Dragons Den or Shark Tank is the sheer number of people who come on the show completely clueless about doing business.  Time and time again, people have spent countless hours and money developing a new product.  But they obviously have not done their research first.  People go out there on national television absolutely, solidly believing in their product but it’s clear that the market doesn’t want or need it.  Their valuations are often ridiculous too, usually because they have valued their company at a million dollars or some other crazy number but they haven’t made any sales yet.  But what really gets me (and I think it’s because I’m a marketer) is the people who go out there and have no clue who their customer is.  They go into this dramatic sales spiel about their product but then one of the dragons cuts them off and says, “But who’s going to buy it?”  It amazes me that they often can’t answer that question.

Whether you’re going on Dragons Den or Shark Tank to pitch a product or you’re approaching a consultant to help you move your business forward, there are things you need to do to prepare for this meeting.  So, here are some thoughts about what you need to know before hiring a marketing firm.

·         Do you have a business plan?  If you don’t have one that’s an issue because it shows me that you haven’t taken the time to do your research.  And if you wrote a business plan 5 years ago and haven’t looked at it since, you need to do that and update it.

·         Do you know your numbers?  You need to know how much it costs to produce the product, how much to sell it for, what your expenses are, what your profit will be and an accurate sales forecast for the next 12 months.  You also need to know how much you will be allocating to marketing expenses.  I can help you with that, but you need to come in prepared.

·         What are your marketing objectives?  Many clients come to me and say, “I need help with my marketing.”  Well, that encompasses a lot of things, so what exactly do you want help with?  What are your goals and how do you think various marketing activities will help achieve those goals?

·         What makes your product so different and special?  I can help you further define your differentiating factors and help you align those with the right target market, but you need to be able to clearly tell me why this is such a fabulous product and why anyone would buy this from you as opposed to buying it from a competitor.

Marketing is one of the most time consuming and expensive aspects to operating a business and it is absolutely crucial to any business.  But you can’t expect to sit back and just let it happen.  You need to do your homework first.  Here is also a list of questions to ask your marketing consultant before signing any contracts with a marketing firm.

Make Your Brand Story Resonate With Your Customers

Everyone has a story.  Every company, every product, every community, every industry has a story.  Think about your own story for a moment.  If you were to write your biography, how would it go?  What would it say about you?  Everyone, no matter how young or old, has gone through experiences both good and bad.  These experiences may have been experiences that others have also lived through.  But everyone views these experiences differently.  What might have seemed to be traumatic and life-altering to one person can seem like just a bump in the road of life to someone else.  Now, in writing your personal story, remember that not everyone really cares to hear it.  But some people, the key people in your life, will want to know every juicy detail.

What's your story?

Now relate that to your business.  Your business also has a story to tell.  Whether your business has only been in operation for 3 months or for 25 years it still has a history.  And, just like your personal story, not everyone cares to hear about your business.  Only a few key people really want to know who you are.  Your story is the basis of your brand.  You can’t develop a brand until you know the whole story.  So, think about what you want people to know about you.  Being authentic is the key to developing trust with people.  Be upfront about your shortcomings.  Let people in.  We’ve all made mistakes.  We’ve all done things we wish we could go back and change.  But life moves on and going back to change something that’s already happened isn’t possible.  The bigger your company gets, the more you are under the microscope.  I hate to say it, but there are people out there who want to see you fail.  Most people genuinely want to see you succeed, but some don’t.  But those aren’t the people you need to be concerned with.  When you remain authentic and conduct your business with professionalism and respect, and handle mistakes swiftly and with dignity, you will make a name for yourself that people remember in a positive way.  Those naysayers who want to bring you down won’t be able to. 

Who are the people you most want to attract?  You may very well have more than one target market, but don’t try to be everything to everybody.  Like I said, some people are not people you need to be targeting to.  So, think about how your target market wants to communicate with you.  What do they want and why do they want it.  People want to feel a sense of belonging, a connection, a feeling of being understood.  Last year, Shania Twain published her autobiography.  I went through an experience very similar to one she had gone through and as I was reading her feelings about it, I felt like, “she gets it”, she’s someone I could totally sit down with and talk about this and we could totally relate to each other.  She is one person who automatically comes to mind when I say “personal brand”.  Like Madonna or Cher, Shania only needs one word for people to know who she is and what she’s about.

Company brands are no different from personal brands in that they create an image in the minds of their customers.  That brand is developed through trust, by being true to who they are and marketing to like-minded consumers.  People develop a loyalty to a brand because of the feeling of understanding and connection.

So, whether you are developing a brand for your company or a personal brand for yourself, keep these tips in mind.

·         Stay true to who you are

·         Don’t apologize for who you are

·         Own up to past mistakes but don’t dwell on them.

·         Market your message to the right market

You’ll know when your brand story has resonated with the right market.  Your ideal customers will become repeat customers and become the biggest ambassadors for your brand.  So, what is your story? 

Social Media Communication - How to Make it Work for You

This past weekend was our high school reunion.   As part of the celebrations we had the honour of a performance by two of our alumni, Don and Dave Carroll, also known as Sons of Maxwell.

I’ve known Dave personally since our high school days so I always look forward to getting a chance to talk to him whenever he and Don come home.  This year, I didn’t have a chance to talk to him because he was so busy selling his new book, aptly called “United Breaks Guitars”.  Dave’s musical career got an unexpected boost in 2009 when communication between him and United Airlines prompted him to communicate in a new and different way.  This story has been told thousands of times, but I’ll just do a quick recap.  In 2008, Don and Dave and their band mates were travelling to Nebraska for a performance via United Airlines.  United Airlines subsequently broke Dave’s beloved Taylor guitar but refused to help him in any way.  After months of arguing with them, he did what he know how to do best.  He wrote a song.  In fact he wrote 3 songs.  He produced a video for the first one and put it on Youtube.  Not expecting much to happen with it, he was shocked to see how quickly the video (which incidentally had been produced on an almost non-existent budget) was gaining attention.  With the promise to United Airlines that he would write 3 songs, Dave wrote and produced the final 2 songs and posted them on Youtube within several months of the original video.  Since that time, the videos have had 12,310,382 hits, 1,533,940 hits and 533,663 hits respectively.  For the whole story in Dave’s words, visit his website at http://www.davecarrollmusic.com/music/ubg/story/.

Youtube is the most widely used search engine in the world.  Owned by Google, Youtube generates in excess of 2 billion hits every day!!  So, you can only image how Youtube videos can have an impact on your business.  Of course, a lot of Youtube videos are funny animals or babies doing silly things, kind of like “America’s Funniest Home Videos”.  And you do hear of the occasional “discovery” like Justin Bieber, but that’s very rare.  However, it really is possible to use Youtube along with other social media to create a buzz around your company. 

The key to using social media is remembering that you are still communicating with customers.  Social media is not a one-way street.  Our current generation uses social media and text messaging to communicate.  A generation ago, it was the telephone.  Before that it was written letters and telegrams. I’m sure I’m going to offend some people here by saying this, so I apologize in advance.  But here’s my opinion on people who say they are “social media experts”.  That is like saying you’re a “telephone expert”.   Social media is a form of communication and you need to have proper etiquette in that forum the same way you do on the telephone. 

So, when using social media,

·         Be polite
·         Develop 2-way dialogue with your customers and communicate regularly but not to the point of being a pest.  Nobody wants to get overloaded with stuff online the same way people don’t want to get a hundred phone calls from you in a week. 
·         Use appropriate social media sites.  There are so many sites out there but if your customers aren’t using them, why bother?
·         Allow people to get to know you. Show your personality. Dave’s videos show his personality.  Let your personality come through and you too will build a fan base of your own.

We may not all have the YouTube success that Dave Carroll has had, but that doesn’t mean social media won’t work for your business.  Follow the tips I’ve given you and watch your fanbase grow too.

Olympic Style Training for Business

Once again, the Olympics are upon us.  Hopes and dreams of hundreds of athletes are either achieved or shattered.  And all it takes is one mistake or one flawless performance.  Think about how much time and effort these athletes have put into their chosen sport, how dedicated they are, but how unbelievably rewarding it is in the end.

The same can be said about your business.  You can’t expect your business to be successful right out of the gate.  A lot of small business owners start their business with a grandiose idea of what their sales forecast will be for year 1, 2, and 3.  Rarely are those numbers realistic.  Why?  Because as a new business owner, you are absolutely determined that your product or service is the best and everyone needs it. 

Put that into perspective of the Olympic athlete.  When a 10 year competitive athlete says they’re going to make the Olympics one day, they’re generally just brushed off as having a “dream”.  Lots of kids have dreams of making it to the Olympics (that’s their grandiose sales forecast of life), but only a very select few will ever achieve that goal.  But, you can be one of those “kids” who grows up to be an Olympian in your own sport.

You have a business concept that you know is good, just like the kid who know he has an athletic gift.  But what you do with it will determine how far you can take it.  So, what do you need to do?

·         Dedication – If you want to make a name for yourself, dedication is paramount.  How hard are you willing to work?  Olympic athletes train 5+ hours a day, 6 days a week, with a solid focus on the goal they have set for themselves.  You can’t expect to compete in the OIympics by watching from the sidelines.  Nor can you expect to be successful by just sitting around waiting for customers.

·         Key Partnerships – Athletes have built relationships with the top coaches and doctors in the country to ensure that they are in the best possible shape.  Partnerships with carefully selected sponsors helps to fund all the training and travelling involved.  As a business owner, you need to make some very key connections as well.  Develop cross-promotion opportunities with other businesses, practice your communication skills to help you establish connections at networking events, reach out to your customers in a way that makes them feel like you really care.

 

·         Patience and Persistence – Any athlete who has been training for 15+ years has dealt with numerous set-backs.  If you expect to beat out the competition, you’ll need to have lots of patience, knowing that there will inevitably be set-backs and hurdles to deal with.  How you handle those will determine your future.  Handle difficulties with class and patience instead of getting upset and giving up.

So, use the Olympic athletes as inspiration.  Find that Olympian inside you and give it your all.  In time, you will also be basking in the glory of a very successful business.

Direct Marketing - It's Not Just Junk Mail

We have all had “junk” mail appear in our mail boxes.  Well, it’s only junk if it doesn’t interest you.  But that doesn’t mean direct response marketing doesn’t work.  If it didn’t work, nobody would do it.   Similar to sales promotion activities, direct response marketing is designed to encourage immediate action.  Things like catalogues, direct mail flyers, sales or fundraising letters, magazine inserts and statement stuffers.  Even some forms of television can be considered direct marketing.  Things like infomercials and commercials that encourage you to “Buy now!  Just call the toll free number on the screen.  If you call in the next 10 minutes, you’ll receive a free bonus gift!”  Direct marketing is very highly targeted to ensure that the advertiser is reaching only a very specific target market as opposed to mass marketing which attempts to reach a much broader audience.

 

Advantages of Direct Marketing:

·         Allows you to target your message to a very specific audience.   Whatever kind of business you have, you will have defined specific target markets when creating your marketing plan.  Mail-outs can be sent specifically to those people only instead of mass mailing something.  Also, each specific piece can be customized to each person in that target market.

·         You can evaluate its effectiveness. If you compare the number of responses to the number of pieces mailed, you can calculate the response rate. If you include coded coupons or response cards you can keep track of exactly who responded and from where.

·         Mail readers are actively involved.  When people take the time to read their mail, your message will have their undivided attention while they open and scan through it.

Disadvantages of Direct Marketing:

·         Many people don't like unsolicited offers and many are skeptical of their validity.

·         Increasingly, busy people don't even open what they view as "junk mail."

·         Using this method of advertising requires thorough maintenance of mail lists. Many small business owners don't take the time to update their mailing lists. With outdated lists, however, mail goes to undeliverable addresses, which is a waste of money.   Another possible glitch - an inaccurate list may misspell names or address a person who has died. These kinds of errors annoy, or worse yet offend, the recipient.

·         Some groups are concerned about the environmental impact of resources used for advertising mailings.

·         It can be expensive.  When creating a direct marketing campaign, you really need to weigh out the cost differential between producing the materials and the profits earned from any new business the campaign will generate.

Tips on Developing Your Direct Mail Piece

·         Focus on customer benefits and do it right at the beginning. The first sentence (the lead) in a direct mail letter should be about benefits.   Your prospective customer only takes a second or two to decide whether or not to keep reading or to pitch it.  So, make sure the benefits of your product or service are offered right up front.

·         Keep the offer simple, easy to understand and persuasive.

·         Include a "call to action."

·         Ask the customer to "call today."

·         Include a postage-paid reply card.

·         Make the offer for a limited time to encourage prospects to act.

·         Make it easy to respond or place an order. Include order forms if appropriate for your product. Include a:

o   toll-free phone number (24-hour ordering if possible)

o   fax numbers

o   email addresses

o   payment options such as credit cards

o   payment plans for big ticket items

·         Use a personal and friendly writing style. Mail is a one-to-one communication; make it sound that way.

·         Create different direct mail pieces to address different audiences - even when you're offering the same product. Your product or service may have a different benefit for different target markets. So, create multiple forms of the same offer for those different audiences.

·         Consider making your mailing "3D" by including an object in the envelope that will peak the recipient's curiosity.

Mailing List Options:

Mailing lists are available for purchase, but they can be quite costly, especially for small businesses on a tight budget.  A better option is to use your house list.  That means that you really need to be diligent about obtaining information from your current customers and people who have inquired about your product or service in the past and maintaining it.  Keep your mailing list current by periodically asking your customers for their current mailing address.

Success Measurements:

When you include coded coupons or response cards, you can track how many you have received and where they came from.  Direct mail experts tell clients to expect anywhere between a .05 percent and 1 percent response rate.  That means that if you mailed out 1,000 direct mail pieces, expect to receive about 10 responses.  That might not sound like a lot, but it’s better to receive 10 actual sales, than 500 “maybes” that you could be chasing down forever.  So, don’t increase the number of mail outs just to increase your response rate.  The quality of the response is what’s important.