MarketingMoment

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The ongoing turbulence in the credit, consumer and property markets continues to throw a lot of entrepreneurs, start-ups and marketers off their game. And if you’re one of them, I bet you’ll be surprised by what I’m about to say: Market more and panic less.

Whaddya mean you don’t have time for marketing?!! You DO run a business - and want to keep it that way - don’t you? Then marketing is simply not negotiable. It is a MUST if you wish to survive in business. No matter how insignificant it seems, by doing some marketing every day I am able to keep in front of my current and potential clients. 
 And the ’smarter’ I market my products and services, the better my hold on my own market share.

You need to do the same. After all, economic downturns (which, by the way, always end in an upturn) bring an entirely new meaning to the term ’survival of the fittest’. But I’m here to tell you that YOU DO indeed have the power to create business . . . IF your focus is in the right place – and that means using SMARTER marketing to get more sales, regardless of what the economy is doing, or how much of a time-debt you have.

It boils down to this: if you don’t, can’t or won’t market your products or services, then your business will fail. And that goes for ANY business in ANY economy. However, if you continue to market – perhaps more aggressively but certainly more smartly than ever before – then your business will have a better chance of survival than most.

Further reading:Business Survival Tools: Don’t Get Left Behind

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“People like to buy products and services from people and companies they like . . . Customers want you to create some kind of relationship with them,” says marketing veteran and consultant Don Debelak in his book Marketing Magic (published by Adams Media Corporation).

He goes on to list 14 reasons why people might buy from you as opposed to your competitors:

1. “Your product solves a problem that no other product solves as well.
2. “The customer perceives your product or service to possess one feature or benefit lacking in other’s products or services, and that feature is relatively important to him or her.
3. “Some people feel your product or service works best.
4. “Some people feel more comfortable using your product than others’ products.
5. “Some people feel that your product has higher quality.
6. “Some people feel that your product is the lowest-priced or the highest-value product.
7. “Some people will buy from you because they like you or like the way you do business.
8. “Your return policies, guarantess, and support are important to some people.
9. “Your product or service carries a prestige image that some customers appreciate.
10. “Your business offers a wider choice to customers.
11. “Your business location is more convenient to some customers.
12. “Some people will continue to buy from you from habit.
13. “Some people will buy from you because you always have the newest or most innovative products.
14. “Your offer a product that makes people feel goot about themselves or others, makes them look good in others’ eyes, or offers a way of showing love or appreciation.”

Perhaps you recognise some of them with your own product or service. Is there one that you can develop to use as your USP (unique selling proposition)? If you already have an USP you are happy with, maybe you can use the above to help fine-tune it so it really works in your favour.

As well as knowing why people are buying your product or service, it pays to know why they aren’t.

Debelak offers the following list:

1. “Business buyers may fear [they are] making a mistake in buying from you.
2. “Some suspects may not have developed sufficient trust in you or your product.
3. “Some suspect may perceive that your products or services are of questionable quality.
4. “Your products or services do not address an important problem of theirs.
5. “Some suspects won’t think they need your product at all.
6. “Many prospects are likely to have satisfactory relationships with one or more of your competitors.”

So you can see finding out why people won’t buy from you is just as important, if not more important, than knowing why your customers do buy from you. When you understand both sides of the coin, you can effectively set up a comfortable environment — through your promotional materials, your in-store layout, your website,  and so on — in which people are likely to buy.

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People do business with people (or ‘brands’) they like and trust, and social media provides the bridge between companies and consumers. But what are the other compelling reasons for using social media? Here are the top 10:

1. It allows you to reach your target market by simply engaging in the right conversations with the right people. This can be much more effective (and a heck of a lot cheaper) than advertising.

2. You can create and build relationships with people who might not otherwise know about your products or services.

3. At least half of Facebook and Twitter users admit to being more likely to do business with a brand that uses social media than one that doesn’t.

4. You can drive high-quality traffic to your homepage/blog/other online sites via call-to-actions, and SEO (the Google search engine loves Twitter updates.

5. It allows you to learn more about, and tap into the wisdom of, your market — which ultimately leads to better positioning and therefore sales.

6. You can listen AND respond to what’s being said about your business (and your competition).

7. Social media allows people to gain a better insight into the company persona - it makes you ‘real’ to consumers.

8. It’s a tool that your ‘fans’ can use to spread positive word of mouth about you.

9. Offering help and advice related to your area of expertise/your products in a spontaneous fashion gives you authority.

10. Because your customers and competitors are using it.

Originally published in the newsletter, Communiqué for Success!

Copyright, T L Dooley. All Rights Reserved.

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There really is no more effective sales clincher than the words of existing clients or customers. As well as boosting your sales, good, believable testimonials can bolster your credibility — an important factor in an increasingly cynical world.

Nine times out of ten, customer testimonials, or even positive feedback on Social Media sites such as Twitter, will outsell any fact, any other ‘proof’ factor or, indeed, hype.  It works on the idea that not only are you a business to be trusted, but also if everyone else is doing something (buying your products, enlisting your services…),  then others are going to want to do it as well.

If you are going to use other people’s praises for your marketing/promotion purposes, make you get permission first.

Another thing you may want to consider is to get testimonials in formats other than the written word. For example, people call a given telephone number and their feedback is recorded to be used as an audio clip. You can even video your clients when you meet up with them (with their permission, of course!) or ask them to video themselves and send you a copy. The idea here is to have testimonials that are as authentic as can be.

At the end of the day, testimonials form some of the most low-cost, high-impact ways to gain new business. So use them!

Copyright, T L Dooley. All Rights Reserved.

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Choosing a good business name is important not just for the legalities of operating a business, but also for making sure your prospective buyers choose you instead of your competitors.

Some experts say that your business name is the first thing that any potential customer will notice and is therefore more important than your sales pitch or even your end product.

I wouldn’t necessarily go that far, but it is certainly true that the name you choose will strike either the right – or wrong – tone with your potential customers.

Successful organisations don’t just invest in developing good names, they work hard to develop a brand name. Because, over time, a brand is capable of doing the selling for you…

People remember a good business name. So what does yours say about you?

A lot of ‘modern’ business names either use the name of the person (if it’s a consultant, for example), which is fine, or they play on words.

I’m not a huge fan of using a play on words in a business name. My feeling is that it doesn’t make the name any more memorable (which is presumably the intention), and it can look a little on the conceited, self-important side.

Another mistake is putting the personal element in a business name. You’d do a LOT better if you chose a name that immediately gets across what you sell or do, and perhaps how you stand apart from the competition.

Speaking personally, if I were to choose my own business name again, I would choose something that adds more of a perceived value, without being ‘cutesy’ about it.

A good business name should be short, unique, memorable, distinctive, catchy and, more importantly, easy to remember and to spell!

When you do settle on a name, make sure you do a search on the internet, just to make sure you are not unintentionally offending someone – often words translated into a different language or culture can really mean something else! Finally, make sure you always consider the legal ramifications of your chosen company name.

If you want professional help with finding and selecting the right business name, just let me know. Prices start from just £97 for up to five original names from which to choose.

Copyright, T L Dooley. All Rights Reserved.

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Fellow blogger Brad McCarty has a very interesting and useful post on social media, sparked by TWiT’s Leo Laporte anti-social media rant. It’s worth a read, especially if you are a fan of social media, as Brad defends its corner in a tight way.

But I think his last sentence is the key: “It’s your time, so spend it how you choose.”

Social media will work for the right people in the right circumstances, but there’s no denying that it can take time. Not just in terms of learning as much as possible about how to use each social media outlet, but also taking the time to ‘know’ your audience and give them what they want as well as work out how best to deliver it via social networking.

Moreover, I think it’s worth asking yourself what you want to get out of social media. Far too often, people jump on the bandwagon that’s carrying the latest craze without stopping to work out WHY they’re joining up in the first place.

So, if someone were to ask you what you want to get out of social media, would you know instantly?

Once you are clean on your objectives, then surely you are better placed to come up with a strategy for a better return on your investment … of time.

What do you think — is it time to re-think your own approach to social media?

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Now that the initial dust has settled on the budget it is time to take a serious look at your cash flow. Yes, granted some of the measures introduced –– higher rates of tax, reductions in relief, increased employer NICs –– raise the anxiety barometer, but there are specific tactics that can help keep your business afloat (and help reduce your blood pressure):

1. Cut Debt via Efficient Invoicing. Most companies have a monthly bill cycle, but if you were to invoice as soon as projects are completed, then you could effectively improve your cash flow by 30 days. Better still, offer an incentive to bill a client at the beginning of the project. Try to better manage late-payers, too. Invoices should be re-issued a limited number of times, and if payment still isn’t forthcoming then consider a more serious course of action.
2. Attract More Customers. If you rely heavily on just one or two major clients and you suddenly lose them, then your income may well go below zero overnight. Your business will be much safer if you have a large client base. That way, if a client goes bankrupt and can’t (or won’t) pay and  that represents 10 per cent of your income, you still have a heart-relieving 90 per cent of left.
3. Encourage Long-Term Retainers. Not every job need be a one-off. Charging a retainer fee for a regular type of work –– such as blog ghost-writing, SEO or website maintenance –- can give your business security when it comes to cash flow. Clients may be encouraged to work on a retainer basis with you if you offer them a discount on your usual fees on account of the fact that the work will be consistent. Most people charge up front for retainer work (ie, in advance at the beginning of each month).
4. Prioritise Your Workload. Organisation and time management is a challenge for any freelancer or small-business-owner, but to keep your cash flow healthy you need to keep focused AND prioritise the ‘high-yield’ income earners. This means doing the work that will bring you the most cash in the least amount of time first BEFORE you check your blog or Facebook page. Completing billable work is always your cash-flow’s best friend.
5. Outsource. Taking on someone with the skills and experience of a good copywriter, say, as an employee is prohibitively expensive. This is especially true as copywriting isn’t your typical day-to-day, full-year activity for most organisations. Which is why outsourcing to a freelance or self-employed professional makes sound financial sense. By varying the type and amount of services you buy in, you’re paying only for the actual skills needed. Additional benefits include no overtime, sick or holiday leave to pay, no PAYEE or national insurance to fork out for, no recruitment or training costs and no paying for people sitting at their desk twiddling their thumbs when there’s a shortage of projects.

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Despite the official end to the recession, the UK’s economy is still wavering and the immediate future looks anything BUT bright. So it’s little wonder if you’re feeling like most people in business; looking over your shoulder, wondering if you’re next in line to lose your job. If you own a business, then it’s likely you’re worried about the latest ’sales slump’. One thing is for sure; you can’t afford to be complacent right now. You absolutely MUST continue to market … perhaps more aggressively than ever before. (See my blog post, Business Survival Tools: Don’t Get Left Behind: http://TwitPWR.com/au6/)

The lead article in MediaMinister’s latest newsletter, Communiqué for Success, shows you how you can promote yourself in new, creative and low-cost (or F.R.E.E.) ways to bring customers through the door in ANY economy.

To read the full article and gain *hidden links* to recent CfS newsletter editions, you’ll have to become a subscriber. (That’s a good thing, by the way, or so CfS readers tell me!) As well as being FREE, you’ll receive a business-building report and audio CD that can dramatically improve sales simply for signing up and trying it out.

Subscribe here.

(You can unsubscribe at any time, and I NEVER abuse my subscriber’s email address. Your details are safe with me.)

Recent CfS newsletter issues cover:

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If you read copy written by someone other than a copywriter, chances are it will scream Features! Features! Features! OK, features are a very good thing indeed and, yes, readers do need to know about them. But not all of them. And NOT right up front.

Instead, you need to do what every good copywriter 
MUST do in order to educate or make the sale: turn features into benefits, and put those benefits at the beginning of your copy.

These benefits must be tied into your readers’ desires, needs and wants. So, when you solve your readers’ problems, they’ll go looking for the features — meaning they WILL bother to read the rest of your marketing message.

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According to internet marketing master Marlon Sanders, the top six ways to drive traffic to your websites are:

1. Getting affiliates to promote your products to their lists.
2. Article marketing — see http://bit.ly/9eMN3j and http://bit.ly/9KpIfn for more information.
3. Buying ads in other people’s ezines.
4. Search engine optimisation (SEO) — to generate more organic traffic.
5. Google Ad Words — and other pay-per-click (PPC) advertising.
6. Banner advertising — once dismissed, now making a comeback.

Here are a few others you might want to try: joint ventures (JVs) … co-registration … social media/networking … PR … postcard marketing … blogging.

Source: Bob Bly email, 1/7/09

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