Sales and Marketing

How to Attract New Customers

CommunityTeam — Mon, 04 May 2009 14:40:00 GMT

By Max Berry

A faltering economy may not seem like the ideal environment for attracting new customers. But, even when consumer confidence is low, there is plenty a small business owner can do to instill faith in his existing customers and court the attention of those looking for a business to believe in. The secret, as always, comes down to the golden rule: Be good to them and they'll be good to you.

Back To Basics
"If it's not essential to your business, don't do it," says Ed Hess, Professor of Business Administration & Batten Executive-in-Residence at the University of Virginia's Darden Graduate School of Business. "You have more leeway in the good times, more cushion for mistakes, more room to experiment."

According to Hess, when the economy takes a serious turn south, experimentation is one of the first things to which a small business owner should bid adieu. Dreaming up innovative services and marketing strategies may earn an entrepreneur big business in a time when consumers are looking for the next big thing. But when they, like you, are just struggling to get by, they'll appreciate a straightforward approach. "The closer you are to basic, fundamental needs, the better chance you've got [of attracting new business]," says Hess.

This strict reliance on the fundamentals-which Hess identifies as quality of product, caring customer service, and strong cash flow-is also a cautious way to proceed in unpredictable times. "Even if your business is doing well," Hess advises, "you need to operate as if [the economic downturn] will last a long time or might get worse before it gets better."

But beyond keeping you safe rather than sorry, returning to the fundamentals may actually reacquaint you with the most basic-and valuable-tenets of entrepreneurship. As Hess points out, "Hard times focus the mentality of a small business owner back to the fundamentals of customer service and customer acquisitions."

Target the Right Customers
The first step to attracting new customers in any economic climate is pleasing your regulars. "Get close to your regular customers," advises Hess. "Those are relationships that will pay off in the good times." Moreover, the word-of-mouth buzz you gain from them will be a huge boon in attracting new business.

Getting close to your regular customers in an economy that is tough for both of you may involve offering longer warranties and easier return policies on products, or special deals and discounts for your most valued patrons. Your customers have to bear with bad economic times just as much as you do. Let them know you're in it together by reaching out to them and making your relationship as hassle-free as possible. Show some empathy and you'll receive it in return.

Even so, when times are tough, you can't give too much away. "Certain customers you bend with," says Hess. "Others, you can't. It has to be a strategic decision, not global and across the board." Not every customer who patronizes your business should benefit from special offers or discounts. Get in touch with your most loyal customers and offer them an exclusive deal. The fact that you're remembering them in particular, rather than throwing up a sign in the window that says "Sale!" will go a long way toward building that empathy.

Target new customers just as carefully. Look at the demographics of your usual patrons and don't waste resources trying to attract an entirely different set of customers. "Small business owners need to be more tactical and focused in hard economic times," says Hess. "[A manager] should not use broad-based marketing. You have to think, ‘Who are my customers and who will keep spending?' It's like a rifle shot, not spraying a field."

A Silver Lining
Believe it or not, an economic downturn offers its own kind of opportunities to America's small business owners, if they know how to take advantage of them. "Now is an opportunistic time," says Hess.

While the professor stops short of positing that, disaffected by major corporations, consumers will run to the open arms of America's small business owners ("That's soap opera stuff," he says), he does see an upside to down times: "Other businesses are getting in trouble and their customers have to go somewhere."

Hess makes a compelling point. The most sustainable businesses, the ones providing the best value and customer service, will endure while others fail. And those that survive, naturally, will pick up business from those that don't. The trick is to strive toward running the kind of business that can last. "The economy is out of your control," says Hess. "Focus on what you can control and be very, very proactive."

How do you get your money�s worth for PR?

SBOCTeam — Tue, 03 Feb 2009 14:38:00 GMT

by PR_Boston

Business owners large and small are looking for ways to cut expenses. So the question arises: Do I need PR? Here are a few reasons why you should say yes and feel good about the expense.

PR is a cost effective alternative to advertising. Even though web ads can cost 25% of those in old-line media, advertising is expensive. And, there are so many ads you have to wonder which ones really stick. People are exposed to thousands of messages everyday: in the supermarket line, at the gas station, on websites-not to mention the ads on the radio, in the newspaper and on TV. We are faced with ad fatigue.

PR provides third party validation. When someone else-an independent person-- writes about you and places that article in a public place, it has intrinsic value. That's why companies want to be featured in the media whether it's in the town paper or on the Today Show. A good PR plan includes strategies for promoting your story to the right media.

Many people think PR is expensive. It doesn't have to be. If you're a small business consider working with a small PR firm. A small business owner is used to being the point person and could be frustrated dealing with a junior level executive at a large firm. Plus, small firms are cheaper.

In PR, unlike in advertising, spending less doesn't mean you get less. Cutting an ad budget means you lose your reach and frequency and that can undermine a good ad. But, cutting your PR budget and signing on with a smaller, more nimble firm can still result in an effective media placement. Similarly, opting for a black and white ad instead of color means you could fail to attract enough eyeballs to get the ad noticed. But working with a PR firm on a project basis as opposed to a costly monthly retainer can still get you featured on TV. In the end it comes down to how well your PR pro develops your message and leverages it with the media.

In today's economy, ROI is more critical than ever. While PR is never a guarantee, it can be a cost effective way to get you message to the right people, and if you can still throw some money behind advertising-that's even better.

Partner Up

SBOCTeam — Mon, 12 Jan 2009 15:44:00 GMT

Broadening your network of business contacts and seeking out additional referral partners is an excellent way to let your friends build your business for you. Just make sure you return the favor

By Max Berry

You can never have too many people in your corner. That goes double for a small business owner. Without the resources for a massive advertising campaign, an entrepreneur needs to rely on a little help from his friends to spread the word. Seeking out a fellow entrepreneur-or several-to help spread the word about your product or service can help you get new business the old fashioned way: through word of mouth.

The Power of Diversity
"Diversity is key," says Dr. Ivan Misner, Founder and Chairman of global business networking organization BNI (http://www.bni.com). "I mean diversity in every sense of the word. Most networks are clumpy, they're cluster-like, and they become insular." An entrepreneur may have the tendency to seek referral partnerships with small business owners solely from his or her own field. After all, how much help, for instance, could a Mary Kay consultant be to a film producer? As it turns out, quite a bit.

Misner recounts the story of a Mary Kay consultant visiting a client's home to perform a facial. When the client's husband, a film producer, came home disgruntled about something at work, his wife asked him what was wrong. A graphic designer he'd lined up for an important film project had just backed out and he found himself in the lurch. But the Mary Kay consultant, on hand to perform her own business, happened to be carrying the card of a graphic designer she knew. She gave it to her client's husband, who called the designer and struck up what turned into a long-term, and exceptionally lucrative, working relationship with the designer.

The story illustrates the reasoning behind Misner's belief that an entrepreneur should never rule out a helping-hand partnership with anyone. As he puts it, you never know "whose house someone might be in."

"A powerful network has people who are connectors, those who connect you to people you never would have met otherwise," says Misner. "The more connectors you have, the better off you are."

Help!
When looking to connect with a fellow entrepreneur, there is one key mistake every small business owner should steer clear of. "Too many people are looking to close a deal," says Misner. "It's a huge mistake to build a business that way." People, especially small business owners with their own bottom line to think about, often resent an unsolicited pitch, especially when the pitch is couched in a disingenuous affability.

To build a strong partnership, a small business owner must first build trust. And the only sure way to trust is through sincerity. "You have to find an opportunity to help someone in some simple way," says Misner. "And help doesn't mean ‘sell a product.' Help means ‘help.' When you meet a like-minded small business owner, talk to them. Ask questions. If rapport builds, ask them what the biggest challenges are in their line of work and, if possible, show them a route they may not have been aware of. Refer them to someone in your network who may be able to lend a hand. The broader and more diverse your network of referral partners becomes, the more readily you'll be able to do this-and the more likely your partners will be to refer someone to you if they find themselves in a similar position. As Misner likes to say, "Networking is more about farming than it is about hunting."

Come Prepared
"The problem is we don't teach networking in schools and colleges," says Misner. "[Schools] teach advertising [as if] every college graduate, in their first job, gets to run a multi-million dollar advertising campaign." Of course, few small business owners, let alone recent college graduates, get to do that. Instead, you need to rely on some basic, day-to-day practices to increase your chances of forming a valuable referral partnership.

Always carrying a business card is rule number one, but Misner recommends taking the practice one step further. Not only should you carry your own business cards, but also-remember the Mary Kay consultant-the cards of your referral partners. This is an instant means of spreading the word about the people in your network. Once you do so, they'll be more than happy to return the favor.

There are also established services, like Misner's own BNI, that will provide referrals for you and put you in touch with other entrepreneurs looking for referral partners. The Referral Institute (http://www.referralinstitute.com) is another organization that gets Misner's endorsement.

"You can network any time, anywhere, any place," he says. The key is to keep your eyes open for the right person and be ready to make contact. As Misner puts it, "Networking is a contact sport. You've got to get belly to belly."

Podcast Marketing � How to Promote Your Biz Using Podcasts

SBOCTeam — Thu, 08 Jan 2009 15:48:00 GMT

by ZekeLL

Podcasting is blogging with audio instead of text. Essentially, you post an MP3 file instead of an article.

5 Reasons Why Podcasts Are Great

An increasing number of people are downloading new podcasts every day.
Unlike TV, podcast can be played whenever the listener wants.
People can listen to them in their cars on their way to work or when they go for a run. You will get their full attention.
There is a lot less competition in the podcast market than there is in the article market.
Podcasting is a lot easier and less time-consuming than blogging and getting your articles published.

5 Steps to Producing a Podcast

Download Audacity at#### http://audacity.sourceforge.net/download/#### or any other audio editing tool.
Get a good microphone.
Write the script (so the podcast doesn't sound improvised and amateurish).
Record it in a noise-free environment.
Apply the noise-reduction filter in your audio editing software and save the podcast file.

Where You Can Submit Your Podcast
PodOMatic - http://www.podomatic.com/
Podcast Alley - http://www.podcastalley.com/index.php
iTunes - http://www.itunes.com/
Yahoo Podcasts - http://podcasts.yahoo.com/
Digg Podcasts - http://digg.com/podcasts
Podcast Directory - http://www.podcastdirectory.com/
Podcast Pickle - http://www.podcastpickle.com/
PodFeed - http://www.podfeed.net/
Odeo - http://www.odeo.com/
Digital Podcast - http://www.digitalpodcast.com/
Podcast.net - http://www.podcast.net/
Singing Fish - http://search.singingfish.com/sfw/home.jsp
Blog Universe - http://www.bloguniverse.com/
All Podcasts - http://www.allpodcasts.com/
Big Contact - http://www.bigcontact.com/
Collectik - http://collectik.net/collectik/
PodNova - http://www.podnova.com/
PodTech - http://www.podtech.net/home/

How to Save a Lot of Time When You Submit Your Podcast

I absolutely love these two tools because they submit your podcasts to the major podcast directories for free and they save you a lot of time.

PodPusher - http://www.podpusher.com/
Pod Submitter - http://www.podsubmitter.com/submit

Zeke Camusio is a serial entrepreneur. The Outsourcing Company, his 6th endeavor, is a creative web design and Internet marketing agency with offices in Aspen, CO and New York.

Zeke writes Let's Do It!, one of the most prestigious and popular entrepreneurship and Internet marketing blog. Check it out: www.TheOutsourcingCompany.com/blog.

Video Marketing � How to Promote Your Business Using Videos

SBOCTeam — Fri, 02 Jan 2009 18:20:00 GMT

by ZekeLL

Video marketing is a fairly new term. It means producing videos and posting them to several video sharing websites to boost your website traffic and get your name out there.

5 Reasons Why Video Marketing Is Great

Google is showing more and more videos in the search results.
Producing a video is very inexpensive and posting it is free.
Most video sharing services such as YouTube have several tools to help people spread the word. Think about it. People actually market your videos for you.
Millions of people promote their websites using articles, but just a small percentage of them use videos. The competition is a lot less fierce.
Video communities are a lot more active than article communities. It is not uncommon to post a video on YouTube and get 1,000 comments in a month!

5 Steps to Producing a Video

Decide what kind of video you want to record (talking head, based on a PowerPoint presentation, from your computer screen, interview, etc.)
Get a good microphone and a camera. It doesn't have to be a professional camera. Sometimes a simple digital camera is enough.
Write the script or prepare the content. Do a practice run first.
Record it.
Do some minor editing using free software such as Windows Movie Maker. You will probably need to trim out the end and the beginning, and add a watermark with the URL of your website.

Where You Can Submit Your Video
YouTube - http://www.YouTube.com
Google Video - http://video.google.com/
Yahoo Video - http://video.yahoo.com/
FlickLife - http://www.veoh.com/
Blip - http://blip.tv/
Crackle - http://crackle.com/
Flurl - http://www.flurl.com/
BoFunk - http://www.bofunk.com/
Vimeo - http://vimeo.com/
Flixya - http://www.flixya.com/

A Case Study
In case you are still not 100% convinced that video marketing is an amazing tool to drive massive traffic to your website, listen to this. Last month we recorded four videos for a client and distributed them to the services mentioned above.

We used some tricks, picked the right keywords, and created some backlinks to them. Then we social bookmarked them, submitted their RSSs to some RSS search engines, and we finally pinged all the pages that we created. All this took us 4 hours. In 6 days, our client's videos had 150,000 views! Do you realize what that means? 150,000 people discovered our client's company in less than 6 days. He got 1,746 visits and $11,235 in revenues from that campaign. His investment was $215. Are you a video marketing believer now?

Zeke Camusio is a serial entrepreneur. The Outsourcing Company, his 6th endeavor, is a creative web design and Internet marketing agency with offices in Aspen, CO and New York.

Zeke writes Let's Do It!, one of the most prestigious and popular entrepreneurship and Internet marketing blog. Check it out: http://www.TheOutsourcingCompany.com/blog.