Boost Sales & Attract New Customers

Boost Your Sales and Attract New Customers 1

The Small Business Development Program

and Attract New Customers

The Small Business Development

Program

Boost Your Sales


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Your Roadmap for Learning Your Small Business Development Program is a three‐part comprehensive Roadmap for Learning. It provides you a unique set of tools and opportunities for personal and professional growth and development. Visualize your Business as an automobile traveling from segment to segment as you learn and complete the arious sections. Each section will help you learn more and more about the rocesses of Marketing and Advertising. vp Part 1 of your Roadmap consists of the Goals Report, the Business Success Marketing Wheel, and SWOT Analysis. You will be furnished with templates which can assist you in planning for your personal and professional costs over the near term horizon, and a template for a SWOT Analysis—where you will actually analyze your business, based on a series of questions which test the business Strengths, Weaknesses, Opportunities and Threats, prior to developing the Business Planning Process for Marketing of your Business.

Goals Report ........................................................................................................ page 4Within the Goals Report are fill‐in‐the‐blank sections to help you develop a simple and creative personal marketing plan. We ask the questions, and you fill in the answers. After you have completed the Goals Report, simply ransfer the information to any format you choose to develop the Marketing nd Advertising Plan which will grow your business.

ta The Business Success Marketing Wheel ................................................ page 1In your Business Success Wheel, we have illustrated a variety of marketing attributes and address how each of them impacts your business. These are not different types of marketing, but true definitions of marketing. You can learn how each of these sections of the Success Wheel builds upon hemselves and can help you create stronger success than would be possible rom each of the sections of the wheel individually.

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tf The SWOT Analysis Tool and Template .................................................. page 2This template will help you define your business, and offer you the basis for development of your own, personalized marketing plan for your business. Within the SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats), we help you take an objective look at your business and define where your business has areas it can utilize (the strengths) and improves upon (the weaknesses, opportunities, and threats).

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Part 2 of your Roadmap is your Workbook ........................................................ page 29Your personal answers in your Workbook help you fully customize the learning tools to your needs. Your Workbook reinforces the material learned in a way which will create a long‐term document for your business. Answer the questions honestly and fully; the more information you are able to plug into your Workbook, the better the results you will achieve with your program.

Step 1 ......................................Assess your current busine

............................................................................. pass or identify targets for your new business.

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tep 2 ..........................................................................dentify expectations for future improvement. SI

......................................... page 34

tep 3 .....................................................................................omplete the SWOT Analysis discussed in Section 1. SC

.............................. page 38

Step 4 .................................................................................................................. page 42Complete your Planning Process using the eight components of the Business Success Wheel.

Part 3 of your Roadmap is your Manual of Study ............................................ page 53The Manual offers not only the background and basis for your program of study, but lso offers over 50 new and exciting ways to improve the marketing and advertising fforts for your business.

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Section 1: Old Marketing Adage Updated to the 21st Century ........ page 54 Section 2: Creating Ideas Which Will Build Your Business ............. page 57

Section 3: Other Marketing Concepts for Consideration .................. page 96

Appendix: Due Diligence Checklist ..................................................................... page 10ow that you have completed the program, here’s a chance for you to extend your

seek professional expertise. N

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knowledge and

njoy the trip! E


Foreword This book is about marketing, advertising and promotion of business in any small business environment. It describes various marketing and advertising strategies, tactics, and techniques that can be used to promote your business as profitably as possible, and thereby increasing your wealth. Many business people have applied he principles outlined in the following pages and have succeeded beyond their twildest expectations, just as you can. This book will inspire you, open the door and lead you in the direction of success. This book is not the “read me once and file me away to be forgotten” kind of book. Read the book once carefully and highlight sections that you need to review. Once ou have read the book apply what you learn along the way. Only then will you ybenefit from this book. This book consists of the Business Success Marketing Wheel, a template for a SWOT Analysis and a Workbook. In addition, you have been furnished with templates which can assist you in planning for your personal and professional costs over the near term horizon, and—where you will actually analyze your business, based on a series of questions which test the business Strengths, Weaknesses, Opportunities and Threats, prior to developing the Business Planning Process for Marketing of your Business. The book is divided into three parts. Part 1 is a comprehensive introduction of what is contained in the book. It focuses on basic marketing and advertising concepts, goal setting, planning and other marketing topics and issues. The material is mostly standard but it is supplemented by the Goal Setting tool, Marketing Wheel and WOT analysis templates to further enhance your understanding of the marketing nd adSa vertising process. Part 2 lays the foundation for discussion in Part 3 of the book. In each case the basic tools of marketing and advertising described in Part 2 are used to explain and analyze certain important marketing and advertising issues. At the same time the ntrepreneur is introduced to the major concepts and ideas of marketing and ertisi

eadv ng. In Part 3 those concepts are joined together in a series of marketing and advertising models. The advantage is that entrepreneurs will at the end of the book become thoroughly acquainted with all the individual marketing and advertising elements by the time they start working with the models.



Reading this book can be fun, provided that you approach it correctly. You will not ain much by simply reading the material but you have to understand and apply the gstrategies contained in the book and also design your own. Begin your trip down the learning pathway as defined in the introduction. The book offers not only the background and basis for your program of study, but also offers over 50 new and exciting ways to improve the marketing and advertising efforts for your business. If you are currently in business, this section will prove invaluable for development of ideas and opportunities. Don’t just stop with the ideas we’ve ffered…create your own. Develop more and more extended ideas from our starting opoint. Making your dreams a reality is the ultimate outcome of this book.

or mo uthor visit the following websites: F

re information about the a

www.mystudent4life.com www.longlife4learning.com ; www.business4learning.com

Boost Your Sales and Attract New Customers is written by the author of What They Didn’t Teach You in School: Long Life Learning Tips to Land a Job Straight out of School and The Business Prep Guide: You’ve Got to Read This Book Before You Buy Any Business Startup Book.


http://www.longlife4learning.com/

http://www.business4learning.com/

http://www.business4learning.com/



Part 1


GOALS REPORT arketing is defined as creating a need in the mind of the consumer for a

one Mproduct or service for which can receive compensation. Marketing is done on several levels. It occurs on a level between the supplier/vendor and the client/purchaser. It occurs on a level between the various employees within an organization. It occurs on a level between the supplier/vendor of goods and services and his/her purveyor or producer of the goods or products. arketing can even occur as an internal function between a supervisor and a M

subordinate. Within the study of marketing, you will discover there are a variety of ways available to market to consumers or clients, but one of the most important is by setting goals for attainment of certain objectives. Creating this set of goals for chieving both our short term and longer term business objectives is one of the key ays we create

aw an internal climate of motivation for success. Written goals are extremely important in helping us achieve our successes—much more so than merely “planning for success” or “thinking about success.” Although one must consider all the concerns and obstacles involved in planning for success, research has demonstrated that written goals are much more likely to be attained. hey furnish us with written, solid examples of expected action, and they help us efine the roles required to make those actions occur. Td

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orollary One: One must write down the overall goals being sought, and create is/her plan around these goals.

he easiest way to begin our goal‐setting is by creating the Initial or TOverriding Goal. Let’s view how this might work in practice. As you begin thinking about your business, you decide that you must grow your sales by 15% in the next year. How will you achieve this? Let’s start by developing your first, Initial Goal.

My objective for my business is to grow my business by 15% in sales over the next calendar year.



Congratulations! You’ve just taken the first step toward improving your business sales. That is an excellent starting point, and this overriding objective will give rise to all the next levels of objectives we must set in order to attain this goal. But irst, we must quantify f the various elements which will impact the growth of our business. y

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orollary Two: The Goals developed must offer a time constraint…that is to ay, they must be measurable within a given time.

Simply growing My Business by 15% could be attained in a variety of ways. If you live in an area where there is television or radio broadcasting, you could pay for advertising—more commonly referred to as ads to let the general public know about your business. But what about your business is unique enough to draw customers or clients to you so that you can sell them a roduct or service their needs? This strikes at the center of Marketing—pcreating the need in the mind of the Consumer. If your product or service is unique, you have the opportunity to stress its unique qualities. If your price is lower than the competition, you have the opportunity to stress your pricing considerations. If your method of istribution is unique, you have a very special opportunity to demonstrate a dnew business model for your product or service. You could call a newspaper or magazine and tell them your story about what makes you different. Printed media is always interested in new and different ways of doing business, or new and different approaches to consumers. How you do business may, in fact, be a newsworthy idea…. And if so, you may want to develop a Press Release to alert the media to your offering.

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orollary Three: Focus on Key Result Areas and how they impact your arke


ting and advertising opportunities.

But all these concepts, although helping to demonstrate differentiation‐‐how you are different—don’t strike at the heart of helping to create a major goal. To create this major goal for your business, you must look at all the Key


Result Areas surrounding your business and take these into consideration s you develop your major goal. Remember, all your secondary goals must aconnect in some way to your Primary goal. Taking the same stated goal: To Grow My Business by 15% over the next calendar year, one must think through all the various concerns which must be addressed—and this helps to expand your Primary Goal. This process is important, because one should not look at goal setting as being a negative or should not allow goals for marketing and advertising, for example, to negatively influence other parts of your business.

Let’s think for just a few minutes about these concerns, and itemize them

here:

1. Can you successfully source the necessary products or services to support your growth of sales? If you are selling leather, for example, is an ample supply of leather available at a price and quality that will meet

your needs?

2. Can you produce the products from the leather which will be in demand

by the buyers or consumers?

3

. Is the market already full of leather vendors or is there room for market expansion?

4. Do you have the necessary number of employees, or can you contract for the labor to be done on an outplacement basis so that you can meet the

e marketplace?

demands of th

5. Do you have a production facility for the production of the leather/leather products, and if so, is it large enough to successfully meet consumer demand?

6. Do you have access to enough capital to help you expand your sales to clients by this 15% growth amount? If not, do you have a Business Plan developed for either raising the necessary capital or doing either a joint

leveraged offering to th

venture or a e public?

7. Do you have access to distribution of the products developed so that they can be shipped, delivered, offered, or serviced in a way which will



meet the connectivity between the source of supply and the source of demand?

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. Do you understand who your customer/client is and what they really want? Often, a business will complete two different types of marketing studies: Demographic studies, which demonstrate who the customer might be for a product or service, and Ethnographic studies, which tell a business what changes or opportunities exist with a product or service. Ethnographic studies actually look at the product or service through the eyes of the consumer—and, in so doing, tell you specifically what the consumer/client likes or dislikes about your offering.

So now, you’ve come up with at least eight different contingent marketing concerns in expansion of your Initial Goal. Let’s see how a review of this list

might change the Initial Goal.

My objective for my business is to increase the sales by 15% during the next calendar year, focusing on prepared leather goods, shipped from the Northwestern provinces. And against that new, more expanded Initial Goal, we could start listing the key elements which would impact that goal.

1. My objective is to increase sales 25% in the South, 20% in the North, and

5% in the Western part of the country by December 31.

2. The ability to ship the product to markets will not be negatively impacted by any distribution challenges since we are now using two different distribution partners. We want to expand this to multiple distribution

partners throughout our region.

3. The objective will be made more easily attainable by an additional line of capital to be sought from East Side National Bank. We will use this capital

only for expansion of market share.

4. We will sign a long term supply agreement with XYZ partners, assuring us a supply of leather at the quality levels we require for a full two year period and a fair price point.



5. We have full employment, full production capacity, and additional potential employees waiting to come onboard as employees with us.

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orollary Four: Be certain that the subordinate goals are supportive of the nitial Goal developed for marketing and advertising support.

One can see how adding these various subordinate goals to our initial goal help to create a climate where we are more assured of meeting this Initial or Primary goal. In addition, the fact that we have taken the time to develop these, write them down, and commit them to our internal planning process greatly enhances the opportunity for them to be achieved.

We’ve demonstrated how your secondary goals will offer key elemental support for the Initial Goal. Now, it’s your turn to write goals for your business.

Create your first Initial Goal, with a target date for completion. Syupport this Initial Goal by no less than three secondary Goals. Be sure that ou secondary goals support the key result areas required by the business.

r

1.

2.

3.

After you have completed the first Initial Goal, replicate this with two other major goals, and related secondary goals. If easier to think about, plan on the Initial Goal being a broader, longer term accomplishment which you wish to achieve, and the secondary goals being measurable objectives which are ttainable and support the initial Goal. Use your Workbook for major goal etting in your marketing efforts. as



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hy should you place so much emphasis on setting and attaining goals? et’s look at a list of the reasons:

Developing written goals enables you to plan your future in advance. oal Developing written goals which are time driven allows you to use the gas a map for actions and alternatives.

Setting goals for action helps both the conscious and the subconscious rts mind become focused on one action and creates synergy for both pa

for action. Goals help you to direct your focus in a specific direction of activity.

The process of setting and achieving goals leads to a clear understanding of the Planning Process for your Business.

The Planning Process is a continuous process in business by which you guide the ongoing processes of your business—in this case, your Marketing and Advertising objectives. The Planning Process follows a pattern and allows you to develop the specific strategies as well as the resources needed. It also allows you to set the minimum acceptable standards you will accept, and is art of the 4 Step Cycle of Management: Planning, Organizing, Leading pand Controlling. When we look at these four cycles of management, it becomes quite clear to us that the focus we place on goals and the attainment of those goals—whether initial or secondary—helps to define the job that we as Managers accomplish. Small Business Owners and Managers are finding that the job functions expected in the defined roles have changed in the recent past. Owners and Managers who fully understood their roles in running a business re now finding all sorts of different Marketing and Advertising challenges afacing them on a daily basis. Should a small business participate in social media and market online? Is the Internet a valid place to advertise your business, and if so, what ratio of dollars you invest should be invested in each type of media advertising? As a art of the Controlling function of management, these types of decisions face mall business owners and managers on a continuous basis. ps



Let’s think about the process of setting Goals for your Marketing and Advertising from what is called he 30,000 Foot Level, or as if you are looking down ton your business on a “big picture” basis. You have a vision for your business that can best be explained as the “why” of your business. It’s more than a goal, and more than an objective… it’s the reason your business is in business. If you are the owner of your business, you have the responsibility for this vision, and for being able to express the vision you have to others. If you lose the vision of your business, you will not be able to market or advertise your business effectively. The vision gives you a sense of purpose.

Corollary Five: Be certain that your goals work in tandem with your business nd do not create short term demands which are not in the longterm nteresai

ts of the business.

You must be certain that your vision helps guide the goals and objectives of your business and creates synergy between the marketing and advertising needs for the growth of the business. Be sure that the goals you set do not create such a climate of “requirement” that they lead to unethical behavior on the part of your employees.

Let’s use, as an example, the target of 15% growth by a certain date. What if that percentage of growth hasn’t been achieved? If, for example, only a 12.5% growth has been achieved—would employees be tempted to “stretch” financial results in order to show a 15% growth? This is the flip side of development of goals and objectives if the process is not viewed as a tool, but as a means to an end. In viewing the process of setting goals, a Manager or Owner must recognize that although easy to measure, the results are sometimes not what are intended.

ith that having been said, let’s do some goal development. W



Q 1: What is your principal objective for studying this material?

Q2: What specific objectives do you want to achieve from this material? Please l ist least five. at

1.

2.

3.

4.

5. Q3: Have you set targeted dates for the achievement of these goals? If so, a

ttach the dates to the goals at this time. If you have not, add the dates now.

Q4: What specific issues could hinder your accomplishment of your goals?



Q5: How can you minimize the impact which these issues might have on attaining your goals? Please offer at least three ways and explain how they will m in ze the impact. imi

1.

2.

3.



THE MARKETING SUCCESS WHEEL Eight Keys to Marketing Success and Measuring Res The creation of business success for any small business is predicated on many factors, not the least of which is the development of a marketing expertise for your specific business type. All sizes do not fit all businesses. There are some general ules which can be followed, but development of your specific marketing expertise s not a given, however.

ults

ri Using the Success Wheel to

elp Chart Success Hin Marketing Let’s look at the components of the usiness Success Wheel and what it can Bmean to your business success. As with any wheel which is supported by various spokes, the center of this wheel centers upon and presumes Business Success. Business success is a transitory term—how you measure success one day may not mean the same thing as how you easure business success the next day, or m

the next week, or the next month. As a matter of fact, success probably won’t mean the same thing to you or your business from one day to the next. Success achieved today is generally viewed as aseline performance in the next reporting period, a sort of “benchmark” against bwhich performance can be based. If you view business success as generating “X” in sales revenue, once you have achieved that level of revenue, you will not be satisfied until you can achieve “X+” in revenue. If you view business success as bringing an additional 100 customers to your business, you will—from that point forward—use an additional 100 customers as the benchmark against which future results must be attained.



There are a variety of marketing points which comprise the spokes of our Marketing Wheel, however. Each spoke represents a specific attribute which must be addressed and mastered in order for business success, your objective, to be achieved. Let’s examine each of these spokes in a way which highlights their importance to the process of bringing you business success. The First Marketing Success Attribute: Marketing Acumen he first attribute we will address is Marketing Acumen, represented by Tthe Blue Spoke of the wheel. Acumen is defined as being able to “demonstrate keenness and quickness in understanding and dealing with a situation.” Acumen is a characteristic which you develop over a period of time in running your business which allows you to ummarize and decide quickly on several different levels, measuring your success

ions of others. sagainst both your own expectations, and the expectat

ow can you use Marketing Acumen to your benefit? H Marketing Acumen Rule #1 You must examine the marketing being done by your competitors and understand whether what you are offering in the marketplace meets and exceeds what they are ffering. This can be based on price, offering, value added or even personalized oservice on goods or services.

o a se T

s ss where you stand, ask yourself these questions.

item by 1. Is your marketing program directly in competition with others on an item basis?

2. Does your offer directly compete on a merit basis with what they are offering?

3. Does your offer meet your own expectations, or what others tell you that you ve in the market? should offer to be competiti


Let’s take a bit more detailed look. This goes beyond simply looking at the offer in the marketplace and determining whether or not you are competitive. It extends to the process of analyzing the competitor. Let’s say, for example, you own and operate an automobile tire store.


You sell a well‐known tire, manufactured locally, at what you believe is a competitive price. Tires are not your only business, but you generate a significant part of your income from their sale. A direct competitor, who not only sells automobile tires—but also services autos—has opened up in your primary trade area. You have noticed that the competitor is running newspaper and radio dvertisements for their tires. The tires that they offer are also brand name, and are riced at about 20% below what you are charging. What do you do? ap Marketing Acumen Rule #2 Your Marketing Acumen leads you to recognize the competition, understand what he/she is doing, and create a response. Direct competitors offer you several options. You can compete on price—which will generally drive the competitor’s price even lower, or you can compete on service, quality and standards. For the sake of profit in your business, it’s generally better to compete on service, quality and tandards…not on price. Decreasing price also diminishes revenue and profits. That sis to be avoided at all costs. One must also look at Question #2 (above)—Does your offer directly compete on a merit basis with what they are offering? If the tires in this instance are both well‐known, well‐priced, and offer the same attributes in terms of guarantee, service warranty, etc. then you find other ways or methods to market to your potential clients. Marketing Acumen Rule #3 In assessing Question #3 (above)—a business owner must always listen to what his sense of value tells him/her about the service or product being offered, and must always look at what his clients are telling him. If his clients tell him that there are etter tires available at a lesser price, he needs to determine what must be done to eet that challenge.

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The Second Marketing Success Attribute: Marketing Analysis

is (the Grey Spoke). This leads us to the concept of Marketing Analys

alyses ta Marketing An ke several different forms. A marketing analysis can help you assess whether you should or should not introduce a product or a service into an area. If you are planning to implement a new product into your business, doing a Marketing Analysis will help you determine

ace if it is a good idea, what the demand for the product or service in that marketplight be, and help you gauge whether or not you will be successful. ny type of forma least four separate actions:

mA l market analysis will focus on at

Analyzin

Developi g the Market Opportunity at hand

n Planning t g the Marketing Strategy to be used

he implementation of the Programs to be used Managing the Marketing Effort to achieve maximum success A more formal marketing analysis—one which we believe everyone should complete‐‐ will consist of a written analysis of your business called a SWOT Analysis. The Third Marketing Success Attribute: Marketing Insight Insight is related to intuition. When we say that one has Marketing Insight, we are saying that he or she has an ability to clearly understand he nature of marketing. Do you clearly have the ability to understand the tnature of marketing? et’s complete a short quiz to see if your Marketing Insight is acute, or if it needs to earn so e new Marketing ideas and teLl m chniques.

1.


True or False—Marketing a business is the same as advertising for it.

That statement is patently false. Advertising is one type of marketing, but holistic marketing is considered the way in which you influence the thinking of others to encourage trial, to encourage purchase, or to encourage repurchase.


Any marketing you undertake should be designed to impact upon the thinking rocesses of your clients or customers. It should create a desire in the mind of your pclient or customer to purchase your goods or services.

nythin else in marketin and money. A

g g leads to wasted time

2. True or False—It is easy to spot the role that marketing plays in the business development of others if we know what our own marketing plan addresses.

This statement, again, is false. While we often believe that we can see the role that a competitor is attempting to play, we rarely can see the marketing statement that he or she is trying to make to the consumer. Where we find ourselves in trouble in our marketing is in trying to go head to head with competitors and not understanding what they are trying to achieve. We may try to capitalize on products or services which do not contribute to our bottom line profit, or which may take away significant upside opportunity for rea lizing maximum profit.

3. True or False—We can gain insight into the actions of our competitors by speaking with suppliers, vendors,

customers and clients.

This statement is obviously true. The best source for finding out what the competition is doing or planning is by talking to vendors, suppliers, and customers/clients. They will

often know, even before you do, what is being planned. From your knowledge of the plans of competitors and peers, you will ain the Marketing Insight necessary to address your needs, build your ales, and maximize your profits. gs



The Fourth Marketing Success Attribute: Marketing Expertise It’s easy to use the word expertise, but it is sometimes quite difficult to xplain what expertise is either to others, or how it is used—and why it is eessential to business success. What is expertise? Expertise represents judgment. Judgment often comes from xperience; hence, we can say that our experience directly influences our judgment. t’s probably easier to explain using a case study. eI The Real Estate Case Study of “The Use of Marketing Expertise” Allsorts Real Estate and the Balance of Sales Psychology This is an actual case study of how Marketing Expertise can impact the role of a usiness leader. Let’s take the role of a real estate broker—the individual who bcontrols the actions of all the Agents within an organization. John Robinson, the Broker at Allsorts Real Estate, contacted us with a problem. “I on’t know what to do with these people working for me,” he said. “They just don’t dunderstand how to not let their clients kick them around.” Here’s how he explained the challenge he was facing to me. “I recognize—as do all good managers—that a subordinate, or a peer, or a partner‐‐ in business‐‐ may cross the line and let a client or customer take advantage of them. There is no benefit in doing this.” John was seeking expertise in stopping a arketing challenge which was costing money. We suggested that he formulate a set m

of Rules illustrating the principle of Marketing Expertise.

ere are John’s Three Rules for Balancing H Sales Psychology: Rule #1 for Balancing Sales Psychology: Don’t even think about letting your client abuse his or her privileges because of whom or what he or she is or represents. Too often, we find that a business transaction is not viewed as a transaction between equals. The client feels too important or the Sales Agent feels too minimized in the process. Why is that? Any type of transaction should be viewed as a transaction between equals. The client is purchasing a house, and an Agent—as a professional—is accommodating that sale.



Could the client do this all on his/her own? Probably not…. At least they could not do it as well as they can do it with the Agent working with them. Each of my Agents s a professional, so keeping that professional edge in the sales process is critical to he process moving forward correctly. it Rule #2 for Balancing Sales Psychology: There is no honor in losing a sale to nother agent, regardless of whom it might be. Often, we find that purchases are aeither ethnically, racially, religious, or ethnically reverse‐motivated. That terminology means—believe it or no—that a buyer of one race does not want to purchase a home from a seller in the same race or ethnic group. In an earlier time, actions such as these might be referred to as “reverse discrimination.” Today, they are just referred to as lost sales. It’s wrong‐headed to think that all blacks prefer blacks as sellers or clients, all whites prefer whites to take them to white neighborhoods, all Asians or Hispanics prefer Asians or Hispanics— just as it’s rong‐headed to believe that blacks will only purchase from other blacks, or whites w

from other whites. Giving up a sale because of fear of “intrusion” or “collusion” is divisive and simply rong. And yet, human nature is a strong contributor to whether or not we feel w

comfortable in the process of representation of either a home or of a client. Those raised to accept others regardless of ethnic origin seem to have no issue with eeping an edge between themselves and their clients. This “edge” has been defined kin the past as “Don’t even try to use me.” Perhaps it would be best if more of us learned how to use this “edge” in our dealings with our clients. As I have heard expressed by dog trainers and veterinarians, you now that dogs have teeth‐you just hope they won’t use them during the training or xamination process. ke Rule #3 for Balancing Sales Psychology: John continued, “I get a lot of comments from clients who receive one of my emails. I receive some strange comments on the signature line that is printed at the bottom of the email. The signature line in my mail says, ‘It’s not about what happens to you. It’s what you do with what happens e


to you.’ “That’s the same approach that I take with Agents. It doesn’t matter how much they make, or what they spend, or how they use the tools that are given to them…it matters about how they get results. It matters to me how they use their expertise in driving their sales. In balancing the sales psychology, one needs to recognize that


you always present a unified, positive, creative front to the purchaser, no matter hom or what he or she is. There’s no abuse on either side and there’s no getting w

“used.” It’s simply not allowed.” In thinking through the Case Study in Real Estate that John presented, we must ecognize the importance which expertise—judgment born through experience—an have on our business. rc The Fifth Marketing Success Attribute: Marketing Accomplishment Accomplishment in the Marketing world reflects achievement. When you have achieved great things in the development of your business, others will look to you to have you illustrate for them the obvious opportunities for improvement or growth. They will see you as a “Guru” n a specific area of business. Accomplishment means more than this, however. It imeans something which is done skillfully and with key objectives planned. ne of the things which we hope will be a hallmark of your business is that you O

recognize and build your positive personal core values into your business. As a business owner, you are a professional and we hope that as you develop your own personal business and brand, you will remember your core values—those values which make you strong and which define how you work with others, how you address the needs of your clients and customers, and how you live your life—demonstrating honesty, integrity, strength of character and determination; otivated by what you know is right as opposed to what you must do, m

demonstrating achievement. If you need to take action to protect the interests of your client or customers, never let there be a time when you refuse or elect not to take that action. If honesty is called for in a transaction, never let the transaction take precedence over the honesty required. We believe you must elect to surround yourself with the best and he brightest. That’s what we hope your business will say to your clients as you t


build the business. Most of all, however, your achievement will be measured by the fact that your business must make money. The key attribute—the reason that 95% of people start a business—is to make money. Profit is key. And to make money, one must plan for their business, operate it in a clearly professional manner, and be diligent in


their efforts to protect and grow their business. And….to get started…you must finance it. Businesses don’t start on their own—they require someone to “prime the pump.” You’re the primer of that pump. And it’s up to you to get it going. It’s up to you to accomplish this success and make the marketing you choose, work. The Sixth Marketing Success Attribute: Marketing Administration Administration is generally considered to be the “bottom line” of any program. It helps to determine how the marketing program will be run, what written rules and objectives are put in place to make it work, and how well it can be run by you or by those whom you designate. In unning a small business, however, making the marketing administration work can rplay havoc with personal finances. Therefore, we are going to make some strong recommendations for the ongoing peration of your business—just to be sure that the marketing you plan is able to be oimplemented. Your first objective in developing a marketing plan for your business should be to determine exactly how much you need, financially, for the next six months. This means that you must develop a plan for your business. Business doesn’t run itself, or does it generate revenue all by itself—you must run it. But first, you need to nunderstand your own personal finances. Create a simple spreadsheet which itemizes the financial needs you and your family will incur for the next six months. List all your current payables, those items on which you pay every month—don’t forget home mortgages, utility costs, insurance charges, religious or charitable contributions, savings plans, car loan or lease payments, entertainment costs, even items down to bottled water and meals consumed away from home. Then include another 10% differential increase to cover items you have forgotten. This should approximate the total amount of funding necessary to cover your expenses—as well as that of your family, if appropriate—for the next six months. Look at this number. When ompleting this exercise, most clients are stunned at their total cash outlay over a c


six month period. It is significantly more than they expect. Now, we want you to think about the business you are developing, and we want you to develop a budget for the next six months, to gain some further insight into


charges you will incur with your business. Don’t forget to include office charges, charges for any employees you hire on a constant employment—or casual labor—basis, liability insurance charges, sales tax estimates, any applicable Franchise and Excise Tax liability. If you are paying yourself as an employee, assume that you will be paying charges at a minimum 20% of your income, automobile costs, travel expenses, gas, and any related workers compensation costs. Assume that your workers compensation costs will be between 3% and 6%, and in some cases, as uch as 10% of your total payroll. After you have developed this six month budget, m

add the two totals together. This will give you an approximation of how much money must be generated to pay your expenses of both the personal and professional side of your business, and will give you a strong indicator of the amount of funding you will have available for marketing administration. Marketing Administration is not only the management of the marketing to achieve business success, but it also epresents the process of paying for marketing which is needed to drive the ales and revenue line of your business. rs The Seventh Marketing Success Attribute: Marketing Delivery mall businesses grow into larger businesses based upon the marketing pportunities created and the success achieved. So The Case Study of Federal Express: How Your Brand Builds Your Business. Most business students study the growth of the American overnight courier firm ederal Express (known by its shortened brand name, FedEx) for a variety of eas nsFr

o .

1. They study it because it attained unprecedented growth in a market which—at the time of its founding—was controlled by a Government Office, the US Postal Service.

2. They study it because it grew and prospered in spite of charging higher prices than a subsidized US Government monopoly and implemented a quality, not quantity, policy.


http://www.fedex.com/us/�


3. They study it because it was one of the first retail companies to understand the importance and critical nature of branding and how branding—

tations in the mind of the client. through a simple tagline—can create expec

4. They study it because it demonstrates how strength is demonstrated by building employee loyalty and focus. The employees believe in the vision, the customers believe in the vision, and the services are perceived as

value.

worthy of a higher price and communicate a greater

5. Most of all, they study it because it demonstrates how consistent and capable delivery can create value. Marketing delivery triumphs when

all else fails. FedEx is a company which never, ever, fails to deliver. Their marketing message to the world was mimicked by their advertising. “Use us when you absolutely, positively, have to have it there overnight.” They made a critical decision to stand y their position, and the lore and legend of the company reflects this top down, babsolute stand on the delivery aspect of their company. As a matter of fact, company lore and legend has it that a flight was delayed one day due to a snowstorm in the Rocky Mountains of Colorado, and a Station Chief took it upon himself to charter a helicopter to deliver a parcel due to be delivered that day y 10:30 AM. Remember the advertising slogan… “When you absolutely, positively bhave to get it there overnight.” If you had been that Station Chief, would you have had the courage to make that decision? Is what you represent in your business the most important thing to you? The Eighth and Final Success Attribute: Marketing Style tyle is critical to success. Style in marketing represents the way that act rSf

s a e represented as opposed to the facts which are presented.

pointe1. The style of your marketing may be d: “Our products and service destroy the competition.” “Nobody does it better.”

: “Always a r a


2. The style of your marketing may be trendy bridesmaid, nevebride.”

3. The style of your marketing may illustrate distinction: “Our product is second to none.” “There is none better.”


4. w The style of your marketing may sho ce: “We never fail to please.” 5. The style of your marketing may be targeted: “Create your own masterpiece

elegan

with our product or service.” All of these examples illustrate that the marketing style highlighting your product or service can be unique; it can be special; it can be humorous, or thought‐provoking. It can generate emotion; it can be obnoxious or demeaning. The key to your marketing style will most likely be that it will be different. Differentiation in marketing style opens doors which will help potential clients or customers to distinguish you from thers and make your offering significantly more focused for your specific offering, ono matter the range or breadth of the offerings. The eight Business Success Attributes we have listed are only the start of pportunities to improve the overall Success of your business, and can contribute to othe overall Wheel of Business Success.

ame s me other attributes you could develop which will help expand the Wheel! N

o



SWOT ANALYSIS Tool and Template for Assessing Your Business One must learn from the experiences of others, and must be able to develop knowledge and experience based upon a series of attributes which we will chart as contributed to the Success Wheel. We also are including a tool called a SWOT Analysis, which will assist you in posting the relative strengths and weaknesses of your business in a way which will help you develop Plans to address the challenges you face. This tool was developed by American Philip Selznick in the late 1950s and has been integrated into assessments of businesses around the world. It was initially eveloped to match internal business factors with external environmental factors to elp de e best actions for success. dh termine th SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. A copy of a formal SWOT Analysis form follows, and it can be used to help determine the specifics in your business which need to be analyzed—and will help identify for you hich of the key spokes in our Marketing Wheel must be used to address your own w

marketing needs. Let’s take a quick look at the SWOT Analysis form and see how it can be useful in elping you to analyze your business and create marketing opportunities which are hnew, different, and unique. First, the greatest strength achieved from successful completion of an assessment such as this is that when you have completed it, you have a written tool against which you can plan to maximize the strengths in your marketing plan, address the inherent weakness in how you are marketing to your clients or customers, seize pon opportunities which you may not have previously recognized, and formally uidentified threats—which may not have been apparent to you. In looking at the strengths of your business, within the Criteria Examples which are called out on the form, you’ll notice that most of the Examples of Strengths will also have components which must be addressed as weaknesses, because each category ou address within the Criteria Example as strength will probably have a orresponding weakness. yc



SWOT ANALYSIS TOOL

Criteria Examples

Business proposition? Owner/Staff Capabilities? Competitive advantage?

Resources, Assets,

People? Experience, knowledge,

data? Financial reserves, likely

returns?

Innovation? Location and geography?

Price, value, quality?

Processes, systems, IT? Cultural, attitudinal,

behavioral?

Management cover, succession?

Philosophy and values?

STRENGTHS

WEAKNESSES

Criteria Examples

Disadvantages of proposition?

Gaps in capabilities? Lack of competitive

strength?

Reputation, presence and reach?

Financials? Any known vulnerabilities?

Cashflow, start-up cash-

drain?

Reliability of plan-- predictability?

Morale, commitment, leadership?

Processes and systems,

etc?

Management coverage, succession?

Criteria Examples

Market developments? Competitors'

vulnerabilities?

Industry or lifestyle trends or changes?

Technology development / innovation?

New markets?

Niche target markets?

Tactics: e.g., surprise, major contracts?

Business and product

development? Required research?

Volumes, production,

economies? Seasonal, weather, outside

influences?

OPPORTUNITIES

THREATS

Criteria Examples

Environmental Issues?

Competitor intentions?

Market demand? New technologies, services,

ideas?

Vital contracts and partners?

Internal capabilities? Obstacles?

Insurmountable weaknesses?

Loss of key staff?

Sustainable financial backing?

Economy?

Seasonality, weather effects?



Let’s assume that you are opening a small retail food store. If your business proposition is strength for you—you have the ability to operate the food store, you will also have a corresponding weakness in that there are many different food tores in the marketplace, and you must recognize that for each strength you must shave a plan to address every weakness. The importance of completion of a SWOT Analysis cannot be overemphasized, because it forces you to look at many different aspects of your business. Whatever he business you operate, most challenges you will face will be exposed through the WOT Analysis. tS




Part 2


THE WORKBOOK R

eady to Insure Your Success?

We have developed this Workbook to allow you to address the marketing needs of your unique business. By completing the exercises within the pages of this workbook, you will have all the necessary information collected within the various modules to begin a formal planning process for your business. At the end of the workbook, we have furnished a template which will allow you to transfer the information from the workbook to the template, and create your initial Marketing Plan, using the formal steps of the Planning Process. L et’s get started…

If you currently own and operate a business, let’s start with your results achieved to date. This question can lead you in a positive direction and give you a “lookback” to see exactly what you have achieved in the past year. Use this opportunity to review our results, then to awaken the “inner marketer” in you to harmonize your actions ywith your direction. Too often, in small business, many owners can recognize the actions which must be taken, but simply are overwhelmed by a list of activities required in the operation of the business to take those steps which would make a significant difference in their business. The objective of this exercise is to see your results and compare them to your expectations. If you awaken the “inner marketer” and recognize the pportunity this can represent, it will make you feel stronger and more motivated to chieve your goals. oa



Step 1.

year. Write down the five most significant achievements of your business in the last If you have not as yet started a business, list the five targets you would set for ourself for achievement of results for the first full year of operation of your new usiness. yb Achievement #1

_______________________________________________________________________ _

_______________________________________________________________________ _ Achievement #2

_______________________________________________________________________ _

_______________________________________________________________________ _ Achievement #3

_______________________________________________________________________ _

_______________________________________________________________________ _ Achievement #4

_______________________________________________________________________ _

_______________________________________________________________________


_


Achievement #5

______________________________________________________________________ _

_____________________________________________________________________ __ Were any of these achievements financial achievements? If so, which ones, and how id you measure your financial achievement? Did you measure it by growth or by dprofit? ow, you’ve identified the five most significant achievements of the last year; let’s N

look at each of those achievements individually. Achievement #1 was ________________________________________________________________

____________ ____________________________________________________________________________ Why do you think that you were successful with Achievement #1? ________________________________________________________________________________________ ________________________________________________________________________________________ as there a specific reason that you were successful? If so, what was it, and can it

Wbe used again to achieve longer lasting and more financially lucrative success?

___ _____________________________________________________________________________________ What was the specific reason that you were able to achieve what you did?

________________________________________________________________________________________ Now, let’s look at what you have listed as Achievement #2. Achievement #2 was ________________________________________________________________

________________________________________________________________________________________



Why do you think that you were successful with Achievement #2? ________________________________________________________________________________________ ________________________________________________________________________________________ as there a specific reason that you were successful? If so, what was it, and can it



________________________________________________________________________________________ Now, let’s look at what you have listed as Achievement #3. Achievement #3 was ________________________________________________________________




________________________________________________________________________________________



Next, let’s look at what you have listed as Achievement #4. Achievement #4 was ________________________________________________________________




________________________________________________________________________________________ Finally, let’s look at what you have listed as Achievement #5. Achievement #5 was ________________________________________________________________



________________________________________________________________________________________



What was the specific reason that you were able to achieve what you did?

________________________________________________________________________________________ If you have not as yet started a business, and are charting objectives for each of these entries, please refer to the manual and focus on the key elements you believe will be required for the business you are planning to be successful. The Manual Module calls out over 50 different tactics and techniques you can use to drive your usiness, and from those, you can pick and choose various techniques and tactics bwhich will help your business achieve excellence. This simple recognition exercise will help you recognize success and address some of your personal and professional needs. We want you to understand the things which you have accomplished are important, and the things which you did not get ccomplished are just as important in the recognition process. This will make you a tronger Manager and Owner. as Step 2. Now that you have recognized that areas in which you were successful and have itemized some of the reasons for those successes, we want to also look at areas where we need to improve or which we need to address for improvement. Everyone has improvement areas upon which they can work. Even if you believe you are running your business in the most profitable manner possible, and using the best usiness models possible, you will always find room for improvement. Every bbusiness owner strives to improve his business. Let’s look at a shorter template for creating your expectations for future mprovements. First, let’s list the three areas in which you believe that you must mprove your business in order to achieve the results you want. ii Improvement Area #1

_______________________________________________________________________ _

_______________________________________________________________________


_


Improvement Area #2

_______________________________________________________________________ _

_______________________________________________________________________ _ Improvement Area #3

_______________________________________________________________________ _

_______________________________________________________________________ _ Within the item you listed as Improvement Area #1, please answer the following questions. as the reason for the results attained directly within the responsibility of the wner, the manager, the supervisors, the employees or others? Wo id the results attained achieve at least 50% of the expectation you held as you egan the period of measurement? Db hat outside elements impacted the results you achieved? W

Do you believe now that the results you achieved represented the best efforts of hich you were capable? Why or why not? w



Given the opportunity to improve the results, what would you do differently? Please rame your answer in specific management actions. f Finally, how long do you think these actions would take to achieve results? ithin the item you listed as Improvement Area #2, please answer the W

following questions. as the reason for the results attained directly within the responsibility of the wner, the manager, the supervisors, the employees or others? Wo id the results attained achieve at least 50% of the expectation you held as you egan the period of measurement? Db hat outside elements impacted the results you achieved? W




Given the opportunity to improve the results, what would you do differently? Please rame your answer in specific management actions. f Finally, how long do you think these actions would take to achieve results? Within the item you listed as Improvement Area #3, please answer the following questions. as the reason for the results attained directly within the responsibility of the wner, the manager, the supervisors, the employees or others? Wo id the results attained achieve at least 50% of the expectation you held as you egan the period of measurement? Db hat outside elements impacted the results you achieved? W




Given the opportunity to improve the results, what would you do differently? Please rame your answer in specific management actions. f Finally, how long do you think these actions would take to achieve results? Step 3. Since you have now looked at the Top 5 Achievements, and three areas for improvement, it’s time to realistically start to assess your Business. To do this, we’ll se the SWOT Analysis which we introduced in the Success Guide Module, and the uactual Business Success Wheel itself. The SWOT Analysis arose from research done by American Philip Selznick in 1957, where he matched internal factors of business with external environmental processes. Although it’s been implemented many times in many different businesses, we’re going to use it to assess some of the opportunities you may have ithin your own business. But first, let’s look at a few of the business improvements w

you’ve identified. eferring further to the SWOT Analysis, we’re going to suggest that you complete

s. Rthe SWOT Analysis, if you have not already, by completing complementary section That will mean that you will complete the “Strengths” and “Weaknesses” Sections first, then complete the “Opportunities” and “Threats” sections last. We suggest that you approach the completion of this tool in this way because you will find that for every benefit in your business which you identify as Strength, there will most likely be a weakness on the other side of the worksheet. This is not a typographical error; it is the function of the worksheet to help you identify and critically plan around both the strengths of your business and to identify the weaknesses of your business before competitors or those who might exploit your business identify them before you do. It allows you to identify many of the “Opportunities” which are inherent in



your business, and it allows you to find ways to counter the “Threats” which you will identify in writing for action. In completing each section of the SWOT Analysis, you will find that you can never nclude everything which the form generates in terms of assessment; good business iowners can always find additional items which are required. Let us help you get started with your SWOT Analysis by offering some general uideline questions; we’ll let you complete the form on your own, after you have had gan opportunity to see how the information can be best collected. Start in the “Strengths” column. You will be writing a series of items based upon the questions asked in the “Criteria Examples” column. For example, how strong is your business proposition? Do you feel that you have a strong business idea and that it can survive long term? Why do you think so? This would obviously be a strength of your business. Next, are your personal capabilities, as well as those of other staff and management required for the business to be strong in what it presents to the clients or customers? If so, list those specific strengths you feel contribute to this as a strength. The next question, “Competitive Advantage?” refers to how your usiness will be perceived by your clients or customers. Is what you are offering nique in the market? Can it be copied or equaled? bu

The Anecdotal Strength of a Monopolistic Space-Based Product We had the opportunity to work with a company which shot a product into space, recovered the product and licensed the product to other groups to use within the production of their products. Everyone, of course, doesn’t shoot rockets into space. That meant that this company had a very unique product; one which was quite costly, hich was very much in demand. and one w On a SWOT Analysis under Strengths—do you believe that this would be listed as a competitive advantage? Of course it would…very few other entities worldwide could claim that their products had been to space! This may change in the next 10 years, but—for now—it’s a competitive strength which is difficult to overcome.



SWOT ANALYSIS TOOL

Criteria Examples

Business proposition? Owner/Staff Capabilities? Competitive advantage?

Resources, Assets,

People? Experience, knowledge,

data? Financial reserves, likely

returns?

Innovation? Location and geography?

Price, value, quality?

Processes, systems, IT? Cultural, attitudinal,

behavioral?

Management cover, succession?

Philosophy and values?

STRENGTHS

WEAKNESSES

Criteria Examples

Disadvantages of proposition?

Gaps in capabilities? Lack of competitive

strength?

Reputation, presence and reach?

Financials? Any known vulnerabilities?

Cashflow, start-up cash-

drain?

Reliability of plan-- predictability?

Morale, commitment, leadership?

Processes and systems,

etc?

Management coverage, succession?

Criteria Examples

Market developments? Competitors'

vulnerabilities?

Industry or lifestyle trends or changes?

Technology development / innovation?

New markets?

Niche target markets?

Tactics: e.g., surprise, major contracts?

Business and product

development? Required research?

Volumes, production,

economies? Seasonal, weather, outside

influences?

OPPORTUNITIES

THREATS

Criteria Examples

Environmental Issues?

Competitor intentions?

Market demand? New technologies, services,

ideas?

Vital contracts and partners?

Internal capabilities? Obstacles?

Insurmountable weaknesses?

Loss of key staff?

Sustainable financial backing?

Economy?

Seasonality, weather effects?



Moving along on the Strengths section, do the resources, your assets, or your people bring uniqueness to your business which enhances its strength? Is there specific experience, knowledge or data which you possess which creates strength in your offering? Does your business throw significant cash, generate large financial eserves, and offer guaranteed returns? If so, these factors would all be considered o be strengths. Is your business founded upon an innovative product or service? rt

The Microsoft Innovation Parade Bill Gates, in founding Microsoft with Paul Allen, didn’t depend upon innovation as much as the ability to assess what the market wanted. It wanted a user‐friendly, common‐based Operating System, and Windows was born from that need. Many of the computer programs which have generated billions for Microsoft weren’t initially developed by Microsoft. Would we claim, however, that these add to Microsoft’s Strength? Certainly. What specifics can you identify about your business which adds to the strength from the perspective of innovation?

Another series of areas which could be strengths for your business are those of geography, location, price, value and quality. Perhaps you operate the only business of its type for quite a distance. Perhaps your business is able, for a variety of reasons, to offer the best price or value, or perhaps a product which you sell is of the est quality available. Any of these would enhance your ability to build upon your bstrength. What is the overall objective of a SWOT Analysis? A SWOT Analysis is completed to commit to writing a number of attributes about your company; it helps you to determine where you are strongest and most competitive in the marketplace. It helps you to determine if there are inherent weaknesses in the business which can create challenges for you prior to development, expansion, or intrusion into a market. Learn to use this tool, and it will elp you to understand your business more fully and make more accurate hassessments of your opportunities. Each section within the SWOT Analysis Tool is completed within the same way, and at the end of your Assessment, you have a fully functional tool which offers a “snapshot in time” of where your business currently is, how it is performing, and hat can be done to improve it. One is hard‐pressed to ask for more from an nalysis instrument.


wa


Step 4. Let’s use your Business Success Guide Marketing Wheel, which you’ve seen reviously in this Course, as our basis for developing your Planning Process for evelopment. Are you rpd eady to start planning for success in your business? The Planning Process, which we have referred to in previous Modules, addresses several key elements required for success planning. You must first assess where you are today. You must decide where you want to be tomorrow, and how you will get there. That requires policy, strategy, and goal formulation. It requires that you be able to implement these goals, assess their results, and use that information to improve, or “tweak” your results attained. We’re going to use the Business Success heel to help you develop your Planning Process for your Business, leading to a W

formal Plan arising from this workbook. Let’s start at the top of the wheel under the segment called Marketing Acumen. Reading your Business Success Guide Wheel and the Business Success Guide odule, let’s look at the various attributes which make up the Marketing Acumen ection. Ms

Marketing Acumen If you possess Acumen, you possess quickness and alertness to the actions you are taking, as well as the actions of your competitors. You must be able to successfully summarize what the competition is doing. You must be able to quickly assess if they are focused on the correct demographic group—by age, sex, location, interest, or a variety of other defining characteristics. Are you competitive and is hat you are offering a “merit‐able” offer? To define your answers, please complete he following questions on at least three dirwt ect and two indirect competitors.

___ Direct Competitor #1 (Identify by Name) ______________________________________

Is my offer/proposition competitive? __________Yes _____________ NoWhat makes it competitive? _______ Price _________ Value ________Quality s the competition targeting my business directly? __________ Yes __________ No oes the competitor’s value offered exceed

ID mine? __________ Yes __________ No

___


Direct Competitor #2 (Identify by Name) ______________________________________ Is my offer/proposition competitive? __________Yes _____________ No


What makes it competitive? _______ Price _________ Value ________Quality s the competition targeting my business directly? __________ Yes __________ No oes the competitor’s value offered exceed mine? __________ Yes __________ No

ID Direct Competitor #3 (Identify by Name) ______________________________________

___

Is my offer/proposition competitive? __________Yes _____________ NoWhat makes it competitive? _______ Price _________ Value ________Quality s the competition targeting my business directly? __________ Yes __________ No oes the competitor’s value offered exceed m

ID ine? __________ Yes __________ No

___ Indirect Competitor #1 (Identify by Name) ____________________________________

No

_____ Is my offer/proposition competitive? __________Yes ________What makes it competitive? _______ Price _________ Value ________Quality s the competition operating in my space? __________ Yes __________ No oes the competitor’s value offered overall ex

ID ceed mine? ______ Yes ______ No

___ Indirect Competitor #2 (Identify by Name) ____________________________________

No

_____ Is my offer/proposition competitive? __________Yes ________What makes it competitive? _______ Price _________ Value ________Quality s the competition operating in my space? __________ Yes __________ No

IDoes the competitor’s value offered overall exceed mine? _____ Yes ______ No In assessing the Marketing Acumen you possess, you will quickly be able to nderstand the marketplace in which you are operating. We will tally and transfer his material later. ut

Marketing Analysis T he are four kere y elements to any Marketing Analysis process.

1. Analysis. If one cannot use an objective method of analyzing marketing, he or she will not be able to fluencing


determine if it is meeting the needs of inpotential buyers, users, clients or customers of goods or services.

2. Strategy Development. Once a business owner understands the marketplace, and decides—based on consumer behavior and opportunity—which type of strategy to use, he or she can write a plan which will meet the needs of the business.


3. Planning. Planning takes the marketing programs which have been decided upon and defines the spectrum of the promotion, the expectations of cost of the promotion, the expectati ons for results to be attained, and the specificopportunities which will be exploited by the promotions.

4. Management of the Effort. Only through analysis and follow up can any marketing program be maximized. If a business owner does not understand what his/her business needs for success, he or she will not be able to

sults. successfully manage the marketing program, or attain the expected re Analysis is a detailed process. It can be completed for individual products or ervices, or it can be completed for a broad range of products and services. The sformat to be followed is as follows. etermine the Product or Service on which a Marketing Analysis is to be onducted. Dc Identify the Opportunity as you believe it exists. Identify at least three separate Marketing Strategies to be used. (After all, you’ve een over 51 different Marketing Ideas and Opportunities in the Ultimate Manual od le!)

sM u

1.

2.

3.



Explain your choice of these Marketing Strategies. Why are these optimal for sage? u evelop a timetable for implementation of these strategies. List target dates, m ation ities, ria w t be m succeDi plement opportun and crite hich mus et to be ssful. Month 1 Month 2 Month 3 Month 4 Month 5 Month 6

Within this table, you may chart the strategy to be used, the dates for implementation, the cost per strategy chosen, or the expected return per mplementation selection. All these facts are critical to the success of the planning r the tion a mentip ocess and final solu nd assess . Month 1 Month 2 Month 3 Month 4 Month 5 Month 6



Management of the Marketing Effort Using the same table as previously, it is important to determine if the cost incurred justifies the returns received for the expenditure. In the following table, you may hart the cost versus sales and define the final number as a percentage of return cca hieved. Month 1 Month 2 Month 3 Month 4 Month 5 Month 6

% % % % % %

Marketing Insight Marketing Insight is determined from your knowledge of the plans of competitors nd peers. You will gain the Marketing Insight necessary to address your needs, abuild your sales, and maximize your profits. ist at least five ways to find out what your competition is doing on a specific

ve importance of each methLproduct or service and the relati od. What Your Competitor Is Doing Rank of Importance



Marketing Expertise xpertise represents judgment. Judgment often comes from experience; hence, we Ecan say that our experience directly influences our judgment. hare at least five reasons why you believe your Marketing Plans and Programs can e s c ssful. Sb uc e

1.

2.

3.

4.

5. f your chosen method of Marketing is not successful, what would be your

ive choices? Ialternat

______ ______ ______ ______ ______

hy do you think the alternatives would be successful? W



Marketing Accomplishment Achievement will be measured by the fact that your business must make money. The key attribute—the reason that 95% of people start a business—is to make money. Profit is key. And to make money, one must plan for their business, operate it in a clearly professional manner, and be diligent in their efforts to protect and row their business. It’s up to you to accomplish this success and make the gmarketing you choose, work. lease develop 10 Key Steps in your Marketing efforts for Making Money with your usines do to make them occurPb

s, and quantify what you will :

Key Steps to Making Money Methods 1

2

3

4

5

6

7

8

9

10



Marketing Administration It’s your responsibility to create a budget for your personal as well as professional xpense. We’d suggest that you use the following spreadsheet planner, or a similar ormat, to create a plan which will identify and address your needs. ef

Expense Category Funds Planned Personal Current Payables $0.00 Personal Recurring Payables $0.00 Personal Savings Objectives $0.00 Personal Investment Strategy Differential Increase Costs Six Month Cushion Current Revenue $0.00 Professional Current Payables $0.00 Professional Office/Store Expense $0.00 Professional Tax Responsibility $0.00 Professional Fees/Support $0.00 Employee Costs/Taxes/Benefits $0.00 Manufacturing Costs/IT Costs $0.00 Compensation $0.00 Travel $0.00 Any Additional Fixed/Recurring Costs $0.00

After developing this six month personal and professional budget, assess the umber of dollars available and the projected number of dollars which will be ngained by utilizing the specific marketing campaigns targeted. Marketing Administration is not only the management of the marketing to achieve usiness success, but it also represents the process of paying for marketing which is eeded to drive the sales and revenue line of your business. bn



Marketing Delivery Marketing Delivery is a key component which surrounds the concepts of trust, branding, and market positioning. How your business impacts the mind of the user of your goods or services creates the expectations in the mind of the user. What you say in your marketing to your clients and customers either builds a relationship ith them where they trust your abilities to fulfill their needs, or it can break down w

any possible future relationship opportunities. Delivery also relates to the trust associated with the name of your business, or the brand. How customers and clients perceive your brand in terms of quality, service, alue, etc. create opportunities for you to either extend or promulgate your goods or vservices. onsistent and correctly positioned marketing creates immense value in the mind of Cyour users. efine five different ways your products or services can be marketed which will rea a value in the mind of the user. Dc te

1.

2.

3.

4.

5. It is also possible to create negative connotations in the mind of your consumers. As counter‐intuitive exercise, please list five specific ways that you would never make he o ucts of your company available to clients or customers. at pr d

1.

2.

3.



4.

5.

Marketing Style As we say in the Marketing Success Model, style is critical to success. Style in arketing represents the way that facts are represented as opposed to the facts hi a

mw

ch re presented.

pointe1. The style of your marketing may be d: “Our products and service destroy the competition.” “Nobody does it better.”

: “Always a r a 2. The style of your marketing may be trendy bridesmaid, nevebride.”

ate distin.”

3. The style of your marketing may illustr ction: “Our product is ter

w elegansecond to none.” “There is none bet

4. The style of your marketing may sho ce: “We never fail to please.” 5. The style of your marketing may be targeted: “Create your own masterpiece

with our product or service.” Share five ways which you can demonstrate your Marketing Style for your product or service:

1.

2.

3.

4.

5. Summation: Now that you have presented a variety of options, including SWOT nalysis of your business, it’s time for you to commit to a full Planning Process to ove your business forward.

Am




Part 3


MANUAL OF STUDY Introduction Every business owner is always seeking newer, better, and more effective ways to ncrease sales, revenues, and profits. You can boost your small business with these

iideas to achieve maximum success—no matter whether you offer goods or services. he concept of Marketing and Advertising use simple ideas, which—when executed Twell—return exceptional profits on funds you spend. The entire concept of Marketing is predicated on the fact that you seek out ways to reate a need in the mind of the consumer or client for your products or services. cAdvertising is one form of marketing—often the most visible type. Let’s look at some simple steps for creating a winning Marketing and Advertising program for your small business. As a business person you have to take an idea and ombine it with information, analyze it and piece it together until you find the best cway suitable for growing your business. One of the first keys is to assess your situation before undertaking any marketing fforts, looking carefully at your current situation, and weighing the risks of espending money in the wrong place or achieving lackluster marketing results. We’ll help you understand how to define your marketing goals and what you hope o achieve and, hopefully, offer some opportunities to match your strategies to your tclients or customers. You can help yourself by considering the message your customers will respond to, the demographics your business targets, how the message is to be delivered to them sing your entire budget, and remember that frequency of sales equals increased urevenue. Try using a combination of packages by studying successful businesses in other industries. What did they use to grow their businesses? Test these in a small way in our business using different strategies and think of a direct application you can dopt and implant to your business. ya



The ideas in this manual will all work for you, irrespective of the business you are n—if you will simply apply the principles contained in this manual to your usiness, you will enjoy greater success. ib Section 1 The Old Marketing Adage Updated to the 21st

entury C M arketing and Advertising depend on three things:

ss. Letting your clients or customers know that you are in busLetting your clients or customers know what you are sellin

ine g. Letting your clients or customers know where to find you.

There are many, many different ways you can market to potential customers. The simplest form of marketing, one to one marketing, originated even prior to the development of language as a communication tool. One to one marketing consisted of two people meeting and one of them had something the other wanted, and the other was willing to trade or barter something for it. The practice of barter, utilized oday in many parts of the world, is based on one to one marketing—a need fulfilled tby a product or service rendered. This can form the basis of the sales transaction. Whatever the time or the place, every business owner who goes into business seeks business success. No matter what you sell—whether you focus on goods or services—your objective is to generate sales, keep costs low, pay taxes and expenses, and have profit left over at the end of the accounting period. And be aware that everyone—in every business—is in sales, in some way. It is to your benefit to be persistent and never stop thinking and planning ‐ there’s always a better way, all hat you need to do is to find it, and—as the old saying goes—the world will beat a tpathway to your door. Success in business is not achieved, however, if you simply open your business doors each day, and sit and wait for customers to come and do business with you. Many businesses have been started and have failed because the owner was so onvinced that his or her business idea was a “million dollar idea” and he “didn’t ave to market the business.”


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Perhaps the best anecdotal story about recognition of the importance of advertising and marketing focuses on a new business owner who has invested all his money in the start up of a store. In what he thought was the correct thing to do, he bought all new stock and trade fixtures but did absolutely no marketing for his business, and was surprised when customers were not standing in line, waiting to come in to purchase products from him when he unlocked the door. He even commented to one of his employees that he was surprised the business did not “break down the door” when the store opened. The employee asked him if he had done any advertising or marketing to let people know that he was open for business, and he aid no—he had told all his friends about it, and they all had told their friends, and stheir friends, etc. The next day, two or three people stopped by, each of them commenting to the usiness owner, “Oh, we stopped by unexpectedly. We didn’t know you were open

” bfor business yet. What a beautiful store you have! And what beautiful merchandise! Two or three days later, a salesman visited the store from the local newspaper, and offered the business owner several different opportunities to advertise the business n different sections of the newspaper, on different days, and the opportunity to iadvertise different items. The business owner, shocked that his business had not been an instant success, told the newspaper advertising salesman, “Oh, no, I can’t place an order for any advertising now; I haven’t generated any profit to pay for it.” The newspaper salesman calmly and patiently explained to the new business owner that the potential customers needed to know that he had opened for business, and that a newspaper advertisement would let hem know he was open for business, where he was open, twhat hours he was open, and what he was selling. Two weeks later, the newspaper advertising salesman returned to the new business, and found a very irate owner. As a matter of fact, the owner actually chased him from the premises, telling him never to return….if he ever needed dvertising, he’d call him and let him know, but never to areturn to his shop again unless he was called. The newspaper advertising salesman left the store, convinced that he would never get an order at that business. He should not have reached that conclusion.



Four weeks later, the business closed because there had been no customers for the business. The owner of the building took over the premises and decided that the best opportunity for him to recoup his losses on this store was to simply sell the stock that the business owner had purchased with the hard‐earned funds he had aken from savings—savings which had taken him years to collect, but only days to tspend. ho was the first person that the building owner called to advertise the close out W

sale? You guessed it. The first person the building owner called was the newspaper advertising salesman and told him to place a full page advertisement in the local newspaper, letting people know that the business had been taken over and the building owner was selling out to the bare walls. The next day, the premises were filled with people, the tore overflowing with customers who couldn’t believe the quality of the goods, the slow sale prices—but, most of all, that the business opened and closed so quickly. The building owner recouped all the funds he had invested in renovations done for the business owner, and after selling all the stock, realized a handsome profit. The newspaper advertising salesman made a nice profit on the full page advertisement he sold advertising the business’s “Going Out of Business Sale.” The customers ere thrilled with the purchases they made—they found great merchandise at a w

reduced and bargain price. It seems the only loser in this entire process was the business owner—because he orgot one of the principal laws of business…others must know that you are in usiness, must know what you offer, and must know how to contact you. fb

I’m in business!!! Here’s what I’m selling/doing!!!

Here’s how to contact me!!!


Without these three items, there can be no success in business. Often, in business school, students are taught to follow a specific formula for success. Many believe that potential business owners must write, at minimum, a Business Plan, Marketing and Advertising Plan, and a Training Plan to be successful. However, to subscribe to this theory, how can one explain thousands of businesses that have been successful for many years without so much as a Business Plan? They can’t. Their belief is that if a business has not had a plan previously, they will do much better with a plan than they will do without one.


We’re of the firm opinion and belief that success does not depend on luck nor does it necessarily occur in a methodical way following a specific formula –success enjoys up and downs. We do believe that business owners have a higher probability of uccess if they plan for their actions, as Planning is one of the key regimens of usiness. sb Section 2 Creating Ideas Which Will Build Your Business Often, those who write books and offer concepts find themselves creating a thinking concept, but not offering timely, tactical tips for building your business. We believe that there is nothing which will convince a reader our ideas and programs are sound aster than presenting a series of ideas which can be implemented quickly, and—in fmost cases—quite reasonably. These ideas are meant to motivate you to think outside of the box and identify overlooked opportunities as fresh possibilities to grow a business. This is intended to impress upon you that it takes a combined, integrated and systematic approach to attract clients. These breakthrough ideas are also meant to motivate you to stretch yourself and start examining products you have never been interested in before and to get a fresh new perspective and ideas and insights into areas you have not considered previously. You will begin to see the connection and start looking at usiness with a new vision, and stop accepting the norm—because “everyone else bhas always done it that way.” et us present 51 different ideas we’ve itemized and can present for your immediate ction in building your business: La

IDEA 1 – Diversify Your Core Offerings

Apply small but clever strategies to your core business. For instance, if you sell flowers, think about including chocolate to any flower order during Valentine’s Day or add patterned Easter eggs to upsell your flowers during Easter Holidays. Any ype of greenery added during the New Year will enhance the product at the start of ta New Year. Don’t depend on just one of these additional ideas; however…Use a combination of several of these strategies to sell your products. Add secondary or support products



to everything you currently sell. Recycle and Repackage your products, mix them and create different labels with different price tags. Rename items. Offer online dvertising/marketing specials and fax a “Newsletter” that offers flower‐care tips aand arrangement suggestions. Install a toll‐free number and make sure that your customers/clients know that you use e‐mail so that customers can call and order and have the flowers delivered right to their door step. Include a brochure for the best restaurant around. Sign an greement with five or so restaurants and earn a commission for referrals. Co‐peratively advertise and discount products. ao

IDEA 2 – Put a Service Element into Your Product or Service

Rare is the product or service which cannot benefit from some extension of the sales process. If you have an opportunity to develop your concept exponentially for your customers, it only makes great business sense to do so. Remember as you establish your business that the perception of the customer is, for them, reality. If they perceive that you are offering them better quality, better service, or extended pportunities beyond the competition, they will quickly see that they want to ospend their dollars with you. What is even more impressive to a customer is if you are able to offer these services at a reduced price—a price point even lower than your closest competitor. While your competition is trying to find ways to match your offering, they must also find ways to exceed your level of service. Service is a much too rare ommodity these days, and whenever additional service of any type is

r. coffered, it makes a very positive impression on the client/custome In conjunction with this, however, it is critical that you offer some type of feedback form for the client—not because you want the feedback, which, of course, you do—but because you want your client/customer to realize that what they are receiving exceeds that which is offered by the competition. Be sure within the feedback form itself to refer to the additional services you are offering by using a title: “Quality‐Ranked Service” or “Blue Ribbon Care.” The feedback form you offer should ask for the customer/client’s input on the services received, as well as leaving room for open ended comments. The open ended comments may be the best feedback you will receive.



Two excellent examples of large companies which were able to either integrate new service concepts or expand upon existing ones in retail include the Federal Express (FedEx) purchase of Kinko’s Copy Shop and the UPS Shipping Services purchase of the retail store Mail Boxes, Etc. Both of these led to expanded service offerings within current retail business space, and each grew the business concept by utilizing a service growth model. If you elect to use this idea as a marketing strategy, be certain that any merger or joint venture will lead to positive growth from the new conomic unit and that there will be synergy gained from the long term cooperative elationships of both groups. er

IDEA 3 – Duplication and Multiplication

Often, clients recognize that excellent offerings can carry lower price points and business owners can still make money. Where owners can leverage vendors into product offerings at lower price points, or where cooperative marketing pportunities may exist, the opportunities to do “2‐Fers” or 2 items for the price

oplus‐‐ for example‐‐ an additional sum of money, is always attractive to a consumer. Consumer confidence can be built upon businesses and business owners that work to find ways to compensate consumers. If wholesale opportunities exist to expand roduct offerings, business owners will find that the opportunity to expand their pown business is enhanced. This goes beyond simply the duplication and multiplication aspect of finding additional products or services for consumers/clients, however. In today’s tough business environment, this speaks directly to a bond which can be constructed etween business owner and consumer. There is no substitute for a customer or bclient who believes that they have been protected and taken care of. Consider the operations of a hair salon. A salon business could consider selling certain hair and face products, recycling and packaging them into different products nstead of selling them individually, or could offer a brochure with specific tips on ihow to care for hair. A massage parlor could sell aromatherapy tinctures as well as massage items such as Dead Sea Salt, Seaweed, wooden roller balls, candles, and spa wear including hoes and robes. Consider items which clients might not have at home, and make hose available. st



A barber shop could consider selling after shave lotion(s) as well as cologne, and ave the shoes of clients polished as a bonus for multiple visits, or even for a hminimum fee. A laundry business could provide TV, games, table pool and a vending machine for soft drinks and cigarettes, as well as a vending machine which furnishes laundry soaps, fabric softener sheets or rinse agents for those who did not bring their own supplies, or who find it easier and simpler to purchase them at the laundry. Many small businesses sell only one product or service and they could expand their product line or service to offer other related products. The objective of this process s to find a way of marketing their businesses which can be repeated over and over gain. ia

IDEA 4 – Direct Mail

Direct mail has always been a phenomenally successful marketing technique. And why wouldn’t it be? Individually addressed letters, appealing to a specific concept—often offering top discounts on products or services—satisfy the innate need of the consumer. Look, they’ve gotten a piece of mail individually addressed to them. No atter that 10,000 other letters just like it went out—that letter was addressed to

myou, individually. We cannot overemphasize, however, that you should not choose to use direct mail addressed to “Occupant” or “Family Living at.” Marketing lists exist which can give ames, addresses, and can be downloaded into the simplest word processing nprogram to generate personalized letters, envelopes, even gift cards. In terms of worldwide acceptance, Direct Mail is an acknowledged source, generally attributed for impact at between 1% and 3% conversion of the number of pieces sold; this means that if your Direct Mail piece sells a $500 item, and you send out 50,000, you can anticipate that between 500 and 1500 of those who receive the mailer will purchase the product. If you work with a well‐known mailing house to develop your direct mail list, always ask if they guarantee a specific percentage of conversion. Many are so convinced that their lists are good that they will guarantee percentage of conversion and some will even guarantee a specific level of sales awhich can be achieved. You should take this process one step further than simply depending on the direct mail result, however. Use the direct mail piece to solicit a sale by a client, but include a “Bounceback” coupon which will bring them back more than once. Use the direct



ma

ail to bring them to your business, and use the “Bounceback” to get them to return second time.

IDEA 5 – Marketing with a Shoe-String Budget

It’s become more and more “en vogue” to market businesses on a shoe string budget. This means that there is little or no money for marketing, and the marketing techniques which you use either make use of someone else’s money—a vendor, a icensor, or a supplier, or their funds—to help share in the marketing expenses

lwhich you incur. Another way to market on a “shoe string” is to create a part of your program in conjunction with vendors of your products. Unlike a marketing alliance, seeking articipation through a vendor spending program can inject cash directly into your

rly basis. pbusiness, based upon the total dollars you spend with the vendor on a yea One way that many business owners find to continually keep their name in front of consumers is to coordinate that every item distributed uses their names and/or logos. Every document, every business card, every shopping bag should have the business name and logo prominently displayed so as to increase top of mind awareness of the customer as to he name and the logo. Clients will often use logoed items for other uses tthan the one intended. A great example of this is the proven study, done by United Airlines, showing that customers would rather use paper cups with the “Starbucks” brand logo than fine china cups which were unmarked, when given a preference. Many types of clothing with logos began spreading virally in this way. Making sure that your logo is on everything associated with your business ust makes good business sense, but you would be amazed at the number of jbusiness owners who have never considered it. Another way that many business owners market their businesses is through their association with clubs, with organizations, and with religious affiliation. Business owners must recognize that they are the best representative their business will ever have, and they must act accordingly. Contributions of in‐kind products or services to nhance the association with clubs, organizations and affiliates will help you gain dded business name recognition. ea



IDEA 6 – Asking for Marketing Alliances

Many business owners are either afraid to ask or do not know to ask other business owners in the same types of business if they would like to band together to develop marketing alliances and create ways to save money. Marketing groups representing he same products or services are frequently able to band together and find

lling to reduce price r.

tsuppliers or vendors who are wi s in return for a larger orde As a business becomes part of a Marketing Alliance, they are able to purchase goods and services more reasonably than an individual business would be able to. nd, with the power of multiple purchasers, they are able to leverage more vendors Afor larger discounts or rebates. A true Marketing Alliance can leverage prices which business owners pay for media arketing, and can lower the cost per inch that business owners must pay to m

newspapers or magazines. Businesses could also experiment through marketing each other’s products— for example the Bookstore next door could provide to the Cinema next door a two page report copied and photocopied and stapled in the corner about the hot books that are for sale that month, while a Cinema provides brochures to the Bookstore about the half priced movie tickets for the first 10 customers who buy tickets to see a particular movie that month. To take this idea even further, the Bookstore could offer a reduced price on the books which serve as a basis for the current films being shown, or could bundle a copy of the book with the ticket sold. Many different types f alliance programs help small businesses become more and more attractive for ousers from a financial perspective. Another example: Businesses could also try one‐on‐one bartering by proposing a direct exchange of goods or services. The product or service need not be related as ong as there will be mutual benefit to both parties. The agreement should be based n retail exchange value and not priclo e. Here’s an oversimplified example: You can allow the store next door to you to make photo copies on your photo copy machine in exchange for allowing your lients to park on his premises if you don’t have enough parking space next to your cstore.

hink through other examples, and you will discover that opportunities abound. T



IDEA 7 – Develop a Referral Program

Rarely does a good referral program go unnoticed. A referral program is one of the best types of programs which can be developed for two reasons: First, because it uses person to person, word of mouth discussion about a business; and, second, because potential clients and customers are more likely to listen to another ndividual that has been a previous purchaser and is willing to share his or her

iexperience. Keep in mind that referrals work in reverse, also. Bad experiences travel more quickly than good ones. For every bad customer experience, you may assume that 10 people will hear about it from one of your consumers. For every good customer xperience, it takes telling 10 people about it prior to getting the word passed on to epotential users. One of the most effective referral programs we’ve seen in the past focuses in three areas. First, the referrer must be a member of a Super Shopper Club. This allows the business owner to gain access to the customer/client’s name, address and telephone number for marketing purposes. If you do not save this information, shame on you! There is no substitute for having a list of proven customers who have purchased roducts from you previously. Use this information to get to know your pcustomers/clients, their specific needs, and what they purchase most frequently. Second, it offers a once a month drawing for proven purchasers who are members of this Super Shopper group. One should encourage purchasers to purchase as often as possible. To encourage this, one must be a member of this group to have the ossibility of winning a prize. The prize need not be expensive, but should be pappropriate to the age group which shops at the location. Third, it entices existing customers to refer new potential clients and thereby build the sales base for the business owner. The key to this project is to gain new usiness. Remember… the two key objectives of business are innovation and bprofitability. Stealth marketing can pay handsome rewards. Consider paying college students to market your business or asking them to wear T‐shirts or outerwear with your company logo. Each view of your company’s logo helps to create top of mind awareness. If the business is in a fixed location, consider having the students simply isit businesses in close proximity and encourage other business owners to work ith you in building your business.


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IDEA 8 – Use Influencers

What is an influencer? An influencer is anything which helps a customer or client determine to utilize your business. It can be a person of some renown who shops in your premises—a local celebrity who simply browses in the store and is seen by many customers. It can be an influential writer who writes a newspaper article bout a very fine visit that he/she made to your establishment. It can be a nationally

aknown figure who walks into the business. In 1982, we were working in a restaurant in the United States, and a very well known entertainer came into the restaurant and bought a meal. The employee running the cash register froze when she realized who the entertainer was, and said to her, “Did you know that you look just like ‘X’?” The entertainer smiled at her, and said, “Maybe that’s because I am ‘X’”— the word spread within 30 minutes all over own that this entertainer had been in the restaurant having dinner, and the sales tgrew over 20% from that day forward. Using an influencer to build your business is a great plan. In 1992, we were part of a party seated at a very famous restaurant in the Napa Valley of California. The Maitre D’ approached my table and said to me, “Sir, I’m going to be seating someone quite famous at the table next to you and I wanted to be sure that it will not be a distraction to your dinner.” I replied that he could feel free to seat anyone he chose next to me. I was not prepared, however, when the famous movie actor Robert Redford was escorted into the room with three of his friends, and seated no more than an arm’s length from my table. Nor was I prepared for the umber of fans who interrupted his meal taking photographs, asking for autographs, netc. If I were a restaurateur and wanted to promote my business, I would not hesitate to feed famous individuals for free, simply to get them to eat at my restaurant. The same principle applies to your business. Who can you bring into your business that will impress your other customers so much that each one of them will tell 10 people who they saw at your business? Figure it out and invite them to come visit your business. Recognize the 10:1 rule; 10 people must have a positive experience for ne additional person to learn about your business; if 1 person has a poor xperience, 10 people will hear about it. oe



IDEA 9 – Turn Your Business Card into a Brochure

Every business owner must have business cards. They are “de rigueur”—required—in the world of business. Often, when you meet new customers or clients, they will ask for one of your business cards. Think about what to have printed on our business cards. Also, think about how you present your card to someone who yasks for it. Japanese clients present the card between both hands, facing the client and slightly bowing as they present it. This illustrates the relevance of their belief in the importance of the business card. Many business clients in other parts of the world use their cards not only as name documents, but as advertising—much as you would pass out a brochure. Do you want to have simply your name on your business cards? Absolutely not! Add the name of your business, the business address, the internet website which tells your customers/clients about your business, your email address, nd any other information you believe a potential client/customer might want to aknow. Many business owners will use the back of their business card to list their specific services and/or other companies with which they are affiliated. It’s a good bet that anyone who has your business card will read both sides of the card. If there are two different languages in common usages in your area, it will be to your advantage to have both ides of the card printed—one side in one language, and the reverse side sin the other language. Many business owners list major “logos” of their vendors on the back of heir business cards so that clients/customers can see and read who tthey represent. Still other business owners run some type of business offer on the back of their business card: “Offer good for 20% off Your First Visit.” If you elect to reduce any price of your goods or services using the back of the business card, let us suggest that you print the offer in different color ink…a special stands out better in bright red or purple against the card itself, and see if the vendor who furnishes you with the product you are offering will help cover the cost of your discount, or the printing of your cards. You may be surprised when they agree to do so.



If the vendor agrees to furnish the product for giveaways, ask for, and give away, t customers know about several. If you have the opportunity, find several ways to le

these giveaways.

IDEA 10 – Offer Options to Your Customers

In an era where financial challenges are faced by almost everyone, any type of options which you can offer customers will give you a benefit over your ompetitors. Moreover, the options route will allow them to purchase a quantity of

s s

cproducts they need or want, with an option to purchase more at a lesser price per unit, and will allow them to purchase at opportunistic pricing or quantities. This is true opportunity, and offering various payment and purchase options will put your business at top of mind awareness. It’s a simple example, but one of the best examples of offering options is breaking part cigarette packs to sell single cigarettes, treys, or half packs. Pricing per unit is

t

ahigher than if the customer/client purchased the entire pack, but it allows purchaseby a broader base of consumers. Those who purchase treys or Lucys obviously don’have the funds to purchase a full pack, but they are willing to pay more per cigaretteif they can purchase only three cigarettes. Offer your clients or customers the opportunity of making their payments for your oods and services over an extended period of 3‐6 months. Establish an in‐house

crative clients. Of course, this depends on the ages, perform a service, or sell hard goods, thi

gcredit opportunity for larger, more luype of product sold. If you sell bird ctform of payment may be appropriate but it would not appropriate for perishablesuch as food, etc. This also works in a reverse format.

ntly Many warehouse‐variety stores sell larger quantities of product at significalesser cost. Often, customers may not really want to purchase larger quantities of product, but do so because they perceive the price paid per unit is lesser and they are seeking the proverbial “bargain.” If you deal in a service business such as a laundry or dry cleaner, consider instituting a van with a pickup and delivery service. Pick up client laundry and dry cleaning on one day and deliver it the next day. Offer them accounts and bill them for the laundry and dry cleaning on a monthly basis, allowing them 15 days after theend of the month to make their payments at no interest.



If you deal in a product related industry such as a restaurant, consider delivering to in sales which otherwise would be lost if you offer a redit cards for the costs of delivery of the product

clients. You will often ga. Accept cdelivery service s.

IDEA 11 – Survey

urveys offer a wonderful opportunity for a business owner to connect with n gram

le

e ne. This will encourage

Shis/her customers. The type of survey designed and executed in a business cacover everything from the locations where customers live and shop (a scattertype of survey) to a survey in which 5‐10 actual questions are asked of customers focused on customer needs and services received. Keep in mind that any type of survey conducted where a customer is asked a question related to the business and feels that he/she has an opportunity to ontribute to the improvement of operations, represents an excellent opportunity toc“connect” with your customer base. Because of the benefit of doing surveys, sampsurveys you could conduct in your business are actually available free of charge, online at several different websites. This is a proven marketing tool which helps build a relationship with your customer or client. During the time the customer or client is completing a survey is also an excellent time to collect information to support Frequent Shopper cards or Birthday wish rograms. When collecting a survey, include a “thank you” discount coupon to emonstrate your “thanks” for taking the time to complete a survey and offer the eedback. Better yet, make it a two part coupon. After the first coupon is used, mak

o

pdfa higher value coupon available only after using the firstadditional visits, and will incent higher dollar purchases.

IDEA 12 – Celebrate. Say Happy Birthday!

ays Everyone enjoys being recognized as celebrating a birthday. If you collect birthdof customers/clients and keep an active database of your customers, there is nevereason for you not to know when a client is celebrating a birthday. Send a card, ive a small gift. (even a small Gift Certificate is appreciated.)

r a

g Keep in mind that it’s not the value of any gift you offer that registers with your customer/client… it’s the fact that their birthday was remembered and you have ecognized them for having a special day. r



Around the world, many restaurants which collect birthday information on ustomers make a point of singing whatever “Happy Birthday” song is traditionac l in their country. Retailers generally offer a “percent off” offering… “Come in and take 20% off a single item purchased on your birthday.” These types of promotions are henomenally successful, and the goodwill built is significant.

ying any number of giveaways together is a great way to say “Happy Birthday” to

p Tone of your favorite guests… and get the word out about several different products

other retailers and offer a “goody or services. Combine your efforts with those of bag” on the Birthday to your client.

IDEA 13 –Use Advertising That Lasts for Months, Not Minutes

Don’t advertise unless a medium allows you to repeat your ads. Well designed advertising can “stand the test of time.” This means that there is no reason to hange your advertising on an ongoing basis.

ing ce

er. What does it say? How can it be demonstrated that someone ctually saw a bumper sticker? Does your bumper sticker make a statement or ask question?

c As a matter of fact, you should look at your generic advertising as advertising which should not change on a daily/weekly basis. Tactical advertising (where prices change weekly on items, or even daily, in the case of fast movers) is the only xception to this rule.

ve

e Strategic Advertising development allows you to look at multiple items which hafairly fixed prices and plan your investment spending on marketing and advertiswhich will create a strong brand image in the mind of the consumer at a fixed pripoint. One can also include advertising on one’s car using removable stickers with the ompany logo and telephone numbers. The use of bumper stickers with catchy hrases could also fit into this category. If you use bumper stickers as dvertisements, find a way to quantify the results obtained from the use of the umper stick

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IDEA 14 – Raise Your Prices

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Often, we hear consultants tell us to mark down prices to drive demand. Inthe example we used in the first part of this manual, the business owner didadvertising, and the premises owner closed the business and marked downprices to incent fast sales of items in the store. One marketing tactic which is not often highlighted is the tactic of actuallraising prices. Some pricing philosophy proponents actually believe thatou should never reduce prices. If there is to be price movement, the

no the

yprices should be raised. Raising prices relative to costs helps to protect margin, and—even if customers/clients complain about higher prices, a higher price creates a positive value image in the mind of the consumer. he price/value relationship is critical to the consumer image of the roduc

K Bus

Tp Ua

t mix.

iness Advisor Penny Heath is one who believes that raising prices can y be a positive to your business, as quoted at the website Highlands and Enterprise, http://www.hie.co.uk/article‐0250.html.

"Just as a low price can create an image of low quality, a high price contributes to the perception that your product or service is of premium value," explains Heath. “ You might even be able to highlight additional benefits the increase will enable, such as improved customer support. Make sure your customers understand what they are getting for their money."

Chat with your customers to find out what they regard as the benefits of buying from you, whether it is price, convenience, quality or customer service. When aising prices, stress the value for money that you are offering to your customers.

ne way to diminish the negativity perceived when raising prices is to counter the bjection even

r Oo before it’s raised by offering a another retailer. This opportunity can be work

coupon discounting a purchase at ed out with the other vendor prior to

raising prices.

IDEA 15 – Tag Along with a Trend

osition your product to fit with current events. Major events like the World Cup ring soccer/football fans from around the world to a central point. Any type of porting event, major concert, major speech,

Pbs etc., brings more potential users into



the universe of your business. That is a positive event, and helps create more “buzzabout your business among potential users. ake it a point to tag onto any advertising that links to the event. Find a product

ll a

”

ttp://

Moffering which in some way can be viewed as reflecting the event so that you wigain synergy from the event. If you are able to participate in the event itself—as sponsor, or as an advertiser in a manual or guidebook, you will gain an immenseamount of publicity and PR value from the event.

f you uigger nline i

Ibo

se email marketing to follow up with your customers, you have an even advantage. Lisa Fahoury explains the positives of event based marketing n her online blog “The Sideroad” which can be referenced at www.sideroad.com/Marketing/event_based_marketing.htmlh

“Because it focuses on timing, Event based marketing excels at promoting consumables, add‐ons like extended warranties, and cross‐selling related products. Best of all, all messaging is automated. Once you outline the possibilities and create the messages themselves, technology takes over to deliver them,” says Fahoury.

IDEA 16 – Scare Up Your Customers

If you are selling alarms, describe the dire consequences of not buying your product.

art of the consum ent Never be afraid to connect with fear in the he er. This can represlarge fears, or smaller ones. Everyone has basic fears and concerns, and—for xample‐‐ the fear of financial ruin, of poor health or a debilitating disease, or of loss f life‐‐

riter

eo Wo

and fear is a key attributes which will move customers to action.

Rohit Bhargava talks about the use of Fear Marketing in one of his blogs nline:

“Fear marketers paint the picture of what your life might be like if you don't get their product. They play into already existing fears, or paint new ones that consumers may never have considered. The end result is the consumer perception that the advertised product or service is a necessity to keep their family safe, make their life less dangerous, or avoid a situation they dread. But should we do it? Doesn't this type of marketing just add to the plague of society, fostering fear and making us a weaker people as a result? Probably ‐ but the problem with fear marketing is that it often works.”



While we would stop short of telling you to exploit fear, you must be aware of the fears of your customers, and you can use them to your advantage in developing retail programs. A fine example of this is the recall programs developed by auto companies. When you purchase a car, if a problem develops with the car, you are otified by the company. Often, it’s a minor replacement part—generally made navailable at no charge—but occasionally, it will be a major repair that is needed to protect health and welfare. See, it’s easier for the auto manufacturer to notify the buyer and fix the problem than it would be if the problem created an accident or axplosion, injuring the owner in the process.

ng

n

a

e nother example of the exploitation of fear is the fear of prices which are beiA

charged changing, and that of the client not getting the “best deal” —or the use of the product not being able to be realized. Two excellent examples can address these fear or concern points very well. If your business is a carwash, for example, how do you make your client “whole” if he/she purchases a carwash and it rains the same day? Many business owners ould say, “That’s the customer’s tough luck.” We would maintain that is the wrongw

approach. Carwashes can tell their guests to save their receipt and if it rains within 24 hours after washing their car, they will rewash the exterior of the patron’s auto for free. The cost incurred in doing this for a very small number of clients who request it is far outweighed by the goodwill involved in doing so. Cost spirals can impact what you charge. In one South American country which had high levels of inflation, clients were told to purchase products at this morning’s rate,because this afternoon’s charge would definitely be higher. As prices are changing ore and more rapidly in today’s economy, it is absolutely acceptable to warn m

customers that the prices they are being quoted for goods and services—especially those imported from other countries which depend upon currency exchange‐‐ may change rapidly and they should make the best deal possible, immediately, and consummate the transaction. In the third fear area—the fear of product quality issues‐‐ there have recently been worldwide scares in processed food products about contamination with salmonellacteria. The news media has been quite good about getting the word out so that b


people do not eat possibly contaminated product. It’s been found to be a way to avoid lawsuits, and quality manufacturers do not offer sub‐ standard product to consumers. When it is found that there could be a problem, the product is quickly recalled.


If you find that any item you are offering is not of the highest quality, or could cause e it issues for your customers, do all that you can to recover the product and replac

as soon as possible.

IDEA 17 – Reconnect and Reactivate with Your Past Clients and Unconverted Prospects

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There is nothing more productive than finding clients who have used your businepreviously and regaining them as clients once again. The only aspect of business that comes even close is that of finding individuals who have never tried you, but have heard great things about you or your business, and are ready to be customers! Often and for a variety of reasons, we find that customers we believed were true believers in our products or services have not become confirmed customers. When hat happens, take time to speak with the person and find out what reasons they haor coming in, or using your services at this specific point in time. That can crtf eate new marketing opportunity for you in that you understand better what the client needs and wants, and what created a climate of motivation for him/her to use you as a vendor.

. Find

Reconnection is always a great experience with past customers/clientsout why the customer/client left you in the first place. It may have been as veryinsignificant event—to you—but one which was a decisive factor for the customer. Always treat each returning customer as a new customer would be treated.

Busineunconv

ss Coach Scott Halman recognizes the importance of past clients and erted prospects. According to Halman at the blog and online sales site businesscoaching.typepad.com/the_business_coaching_blo/2008/06/how‐http://

to‐increase‐profits‐quickly‐easily.html,

“It is estimated that about 30% of customers can be tempted to spend more and this extra revenue can have a huge impact on your profit since much of the initial profit is swallowed up by customer acquisition costs and overheads…”

on’t let any unconverted prospects to your business exist. Follow up, follow up, nd follow up. Use coupons or discounts if necessary to bring them to your proDa duct

n has occurred, keep them as clients or customers.

or services. Once conversio


http://businesscoaching.typepad.com/the_business_coaching_blo/2008/06/how-to-increase-profits-quickly-easily.html


IDEA 18 – Publicity

1. the news about the business is

Creating publicity about your business is one of the best ways to gain new customers and cement relationships with current ones. We would stress that it is important you establish yourself as the “Obvious Expert” n a specific area. If your clients need a specific type of rope, for example, share with

of hase

ithe customer why your type of rope is the best. If your clients hear your levelexpertise and knowledge about an item, they will return again and again to purcthe items from you. his is also an excellent time to suggest that you learn how to work with the

er, magazine, or TV termine how much

Tmedia—either online advertising, or working with newspapeporters. How you present ideas to the media will often deoverage your business will receive.

It is i ree phases:

rc

cr tical that you present your PR idea in th

What 2. How the news about the business will impact the lives of your customer

base 3. How this impact can or will change the customer’s life

p If you present these ideas in this order, you will find that media outlets will pick uyour story, and the story will be copied and distributed at no charge to you. No charge marketing and advertising is the best marketing that you can receive. In thinking about how to present your story, think in terms of what a newspaper story about your business, products, or services would say, and write your publicity in that way. You will learn that reporters will use stories you furnish more requently if little or no editing is required. Reporters are basically like most of us—f


if someone else will do the work, they will let them do so. Be sure that whatever you furnish about your business for dissemination is at or above the standard for journalism set by your local newspaper or magazine. Once the story has been printed, it’s time to start to gain your real publicity. Ask the reporter or the editor for “reprint rights” to the story. Use the story online on your website to let others know of your “press coverage.” Send out a Press Release to other newspapers, radio, or television stations in the area and region, announcing your news, and sharing the story in its print or online linked version. Print up copies of the story, and include them to every client or customer that visits your location.


Bas

e sure that no stone is left unturned in your efforts to make your clients/custware that you have gotten some “significant” press coverage. Send copies of the tory to all your vendors and include a copy with any letters you send out to

m exposure from your story.

omers

customers or clients in order to get the maximu

IDEA 19 – Marketing with Coupons

Coupons are an excellent way to build business on a repeat basis. Brilliant marketers also build repeat business on top of repeat business. Here’s how this might work. Let’s say that you offer a 10% Discount on any item in your store for anyone presenting a coupon at check out. Obviously, the coupon will meet certain parameters—it will have a time window defined for use, and it will have an offer which is appealing to consumers. Example 10% off. Good until June 15, 2009. When the customer presents the coupon, you may offer him/her another coupon, valid only for customers who present the first coupon. This second coupon might offer 15% off any item purchased, but it eeds to have a contracted time window. Coupon #2—20% off within

nthe next two weeks. See? What we have done is to increase the amountof discount to the customer, limited the number of coupons which will be distributed, and shortened the time window for redemption. The whole idea is to bring in the customer, and offer a way to bring the customer back again in short order. The more frequent his/her visits, the more likely it is that he/she will become confirmed customers. Finally, one last comment on coupon: Always accept competitor’s coupons. If a competitor is offering a phenomenal offer, and you feel like you are losing money on he offer, think about this—you have gained the customer and the customer will tremember where the person redeemed their coupon. If the coupon brings the guest into your business, it has fulfilled the purpose—no matter who printed and distributed it. Always accept competitor’s coupons at equal or additional value to your clients. This is a critically important idea to communicate to your employees. They should understand that any coupon brought in is always accepted, whether from your business or a competitive one. Even if expired, if the customer or client is drawn to your business product or services by the coupon, some type of accommodation should be made to illustrate the importance of the client to your business.



IDEA 20 - Rewarding Your Best Customers/Customer of the Month

any businesses find that very good customers love to be recognized for the ellent

d. This tand that he/she is

Mbusiness which they give you/bring you. How you recognize these exccustomers is your choice, but recognition through a giveaway, treating them to a special evening, dinner at a restaurant, etc. goes a long way to cementing a relationship with one of your best customers. One word of warning, however: Be certain that the customer will not be embarrassed by being recognized. Having used this successfully, I can tell you that one customer, many years ago, did not want to be recognized. We had given them afine gift certificate to a restaurant and set up a newspaper photographer to recognize them and the fact that they were VICs—Very Important Customers. hen the photographer showed up, they became incensed, and felt we were usingW

them for marketing purposes without their approval. We learned a very valuable lesson and—from that point forward—always asked if the customer would mind having their photo taken and labeled as one of our “Best Customers.” No one else ever minded. Lesson learned.

e Another method which works very well in this situation is to award them some typof engraved gift which carries your business’s logo or trade dress. This allows everyone who sees the gift to see your logo—which builds top of mind awareness of your business.

nother idea is to give the best customers or clients an “in‐house” charge account, o that they are not required to pay immediately for goods or services receiveemonstrates

Asd goodwill and helps the customer to undersappreciated.

IDEA 21 – Inexpensive Novelty Items

eople love FREE gifts. Many businesses have small, novelty giveaway items

e

Pprinted with the business name, telephone number, and address—and always remember to include the internet website address of the business. Some of the morpopular items used in this category include writing pens or pencils, measuring tapesor yard/meter sticks, key chains/key fobs, small flashlights/torches, etc. Generally, the larger the quantity of giveaway item printed, the lower the price per item, and the more of them you will have available to give away. The one key to an



inexpensive giveaway is to be sure that everyone who visits your business receives ne of the items. You would not believe the ill will created if one customer in a groupo

at

does not receive something given to every other person in the group. Additionally, do not try to limit your giveaway to one per guest. If a guest comes back for several of the same item, there is some reason that they want them. At that point, you have paid for the items to be given away, and it’s best to give away several of them. If you are in a retail business, be sure to have several different types of free gifts to ive away. You might have mothers with children, and you want to be sure that the hildren receive some type of free giveaway. This is critical—if a mother receives omething free, and the child does not, the child will create havoc for the mother. Be

veaway item, and th

gcssure that everyone in the party receives some type of free giwhat is given away is appropriate to the age group and demographic targeted.

IDEA 22 – Use Circulars to Expand Coverage

ingle page “flyer” type circulars advertising one or several different products work r

Swell for those customers who might not be willing or able to purchase a product oservice at the exact time they visit your business, but will be able to do so in the future. Putting a Circular in their hands, or stuffing a Circular in a shopping bag is lmost guaranteed way to achieve a return visit and a sale of the product.

an

s

ment of the ir

re

a Using multiple page circulars with many different items shows a variety of itemou have available, and—as an additional benefit—can be inserted into local ewspapers or magazines to augment their distribution.

f yo d

yn IC

u evelop your own circulars, there are three rules to developcular:

1. Be sure that you limit the number of items advertised 2. Always use color—color circulars have been shown to be 43% mo

effective than black and white 3. Always print your circulars on the best paper possible. Don’t skimp on

the quality of the paper—when people touch it, they can feel the difference in the quality of the paper used.

lways include some type of coupon, or multiple coupons on a circular. If you have uccessfully put a circular in the hands of a client or customer, see that you incent hem to use the coupon(s) attached to the circular. Make your coupons the “tear off”

Ast



type which can be tallied and tracked in your business in order to correctly track thevalue of the giveaway, and can also be reconciled in the business.

IDEA 23 - Give Away Samples of Products You Sell

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sample of

e a

Working in conjunction with vendors or suppliers, it’s often possible to get them to commit “cooperative funds” in a way which will make product available to you for ampling purposes. Often, vendors will also make available the cost of labor

f new srequired to distribute and sample their products, just to get them in front ocustomers. ample giveaways can be done in your business, or can be done outside your

enSbusiness. As long as your business name is included in the giveaway, you will bfrom a proven customer or a potential customer receiving a free giveaway. Be sure that the items being given away are of a quality that will positively represent your business. Do not allow vendors to use substandard giveaways or these may negatively detract from your business. If you are able to develop a marketing alliance with other retailers, it’s always ossible to collect multiple items and offer them as “giveaways.”

f your business is a service business, it is generally quite simple to offer a

p Iyour services. When doing so, tie several of your services together. If you are anAccountant, offer tax services as well as business development services. If you arphysician, offer well‐baby services in addition to services for sick patients. Be sure that the service offering correctly represents the quality of your services.

Er

IDEA 24 – Give Talks in the Community about Your Business

very community has service clubs, community associations, senior centers, or eligious groups which are always seeking speakers. Develop a short, 1520 minute talk about your business which can be delivered at these gatherings, and let people know that you are more than willing to talk about business in general and your business specifically.



I n your talk, cover items such as:

1. Why you started your business and what it takes for others to start a business.

2. What you expect to accomplish with your business. 3. How others participate in your business and the key attributes of

others that are necessary for success. 4. The key attributes you believe are important to your business and how

it supports and participates in the community. 5. Leave plenty of time for questions and answers. Just in case no one asks

any questions, come prepared with a list of 1015 questions and answers about your business that would be appropriate to any group of any age, and if no one asks, pick several of the questions as a summary of your talk.

If possible, bring some logo’ed items to leave behind with your listeners. You may ven want to have a giveaway of one or several of the products from your business eand pick a winner to receive them. Allow everyone to walk away with a coupon offering your product or service at a discounted rate. If you have digital recordings of previous talks you have delivered, make those available to your listeners at a minimal cost. If you have case studies or white papers you have developed—some type of intellectual property for which you ave been responsible—you may want to make this available to demonstrate your bilities. ha

IDEA 25 - Develop a Catalog of your Products a

Catalogs, printed properly and distributed professionally, are phenomenal resources to educate others about your business and the products and services you offer. Before you develop a catalog, however, determine if the products and services ou offer are truly appropriate to a catalog offering. If so, here are some key points o reme

nd Services

yt

mber:

• Catalogs are generally printed to cover a fixed period of time—a season, or a quarter of the year, or a holiday. They generally need to be updated on a regular basis, so plan on getting the sales benefit from a catalog in the first three months after it is printed and distributed.



• Catalogs are expensive to develop, print, and distribute. The cost of developing catalogs and distributing them can use up an entire marketing budget very quickly, so be certain that your products and services will remain at the prices posted in the catalog for the period of time specified, and that the cost of production of the catalog will be covered over the period of time the catalog will be used.

• Many potential customers will accept or ask for a catalog, but will never

order a product from one. If you are setting up databases for catalog distribution, be certain to remove those names on a regular basis which do not use the catalog to order from you.

• Use the highest quality paper and printer you can afford for your catalog offering. If possible, and if your products or services will appeal to wholesale vendors, have single print sheets available for those items which would be

marketable to a wholesale or online marketplace.

• Sell the catalog, but offer an equal value gift certificate. In other words, sell the catalog for $5.00, but include a Gift Certificate worth $5.00 as a part of the shipping package. Every coupon won’t be redeemed, but you still have the $5.00 cost of the catalog, which can be applied against the cost of development and mailing of the catalog.

IDEA 26 - Set Up Another Location and Cross-Market Your Business

Cross marketing at a different location offers you exposure to an entirely ifferent group of customers from those generally seen at your principal business dlocation. or this reason, our recommendation is that you use the location of a business Fwhich is totally different from the demographics of your business location. It’s important to recognize the maximum benefit from this exposure will be attained if you pick a location which has high traffic—either vehicular or foot traffic. Use of this secondary location will create more name awareness for your venture and will help build this top of mind awareness so critical to the development of your sales nd profits. Use the most visible marketing possible; be sure your name is ighlighted so that the top of mind awareness will be beneficial. ah



If you coupon, be sure to identify where the coupon originated, but be sure to accept them at both locations. The rule of thumb is that you always accept coupons, even if from a competitor. If the coupon brings clients or customers to you, it has done what t was designed to do. Now, it is your responsibility to close the deal with the client r customer. io

IDEA 27 - Use Newspaper Inserts Wisely, If at All

Newspaper inserts are an excellent way to broaden your exposure to a large audience and increase the knowledge of the general public to your business. However, please recognize that the use of newspaper inserts can be very costly. Newspapers will often charge you a fee for the printing of the insert, and a separate fee for the addition of the insert. For this reason, we recommend that if you elect to use inserts, you choose to insert a pre‐printed flyer or even a catalog in the newspaper. In that way, you are able to make use of two different uses of one type of media. At the very least, have the newspaper which is pitching you on the idea of the nsert to bid on inserting its own print job, or simply adding work you have icompleted previously. You must also be sure that the newspaper which would handle your insert distributes newspapers to the area in which you wish to advertise, and there are no reading or language difficulties inherent to the offering. Do not use insert dvertising to only generically highlight the name—use the insert advertising for aspecific products or services. Be sure that every newspaper insert you use has a coupon or coupons which will ncent readers to visit your business. The purpose of coupons is not only to offer iscounts, but to incentivize clients to visit your business. id

IDEA 28 - Set Up Trade Show Booths to Broaden Your Exposure

“Trade shows.” The very term can scare marketers and create fear in the minds of advertising executives. Trade shows offer outstanding opportunities to showcase our business, yet fateful opportunities to influence large numbers of people in y


negative ways if you don’t maximize your presentation. There are some key elements to trade shows that must be accomplished to achieve the desired result:


1. Rent a booth space on an end of the display area, or immediately adjacent, preferably to the right, of an entrance. The next best spaces to rent are directly adjacent to any comfort stations or rest room areas. The reasons for these locations should be clear; you want the highest traffic counts and visibility opportunities for your booth.

2. Hire a professional to develop a booth for you. Do not attempt to “piece

together” a booth with three or four different graphic elements. It will make your booth look cheap, and if your booth looks cheap, it diminishes your business name in the mind of the trade show attendees.

3. Be sure that your booth has the latest technology. Cycling video, internet connectivity, and the best printed material you can afford—as well as giveaways with your logo or business name, address, email and website address printed on them are keys to maximizing your participation in a trade

show.

4

. What type of employees must you use at a trade show? There are two uniquely different schools of thought on this. One school of thought is that you should hire attractive female booth attendants who can represent your products or services well, and serve a role “dispensing” material you have printed for the show.

5. Another, distinctly different school of thought is that you should have very aggressive sales people on the trade show floor at any time when the show is open to the public. These salespeople should view this as an opportunity to sell the concept to anyone attending the show. You must decide which school

of thought you wish to pursue.

6

. Whatever your choice of booth attendants, make sure that the printed materials developed as “take‐ways” are both professionally prepared and represent your best efforts. What potential clients see when they are away from the show are your materials.

7. If anything is given away at a trade show, be sure that the giveaway incents long term business as opposed to a quick, one time purchase.



IDEA 29 - Co Op with Any Vendor for This Type of Marketing Opportunity

Vendors often establish co‐operative marketing funds accounts to match funds nvested by businesses. It is to your benefit to immediately recognize which vendors

iyou use might have such funds available, and tap into them as soon as possible. Keep in mind that many of these funds are earmarked for media exposure—such as radio or television, or even Internet, marketing. Programs which you might not be able to afford on your own can suddenly become not only available financially, but very lucrative to you as you investment spend for name recognition—and for the onnectivity made in the mind of the consumer when your name is associated with a arger company or group. cl Be sure that your position in the coop is very clear and that the expectations to e achieved in any campaign such as this are clearly spelled out in the contracts brequired and the documentation furnished to you. articipate in marketing co‐ops with a variety of different items, which will help ake your offering even more unique for users.

Pm

IDEA 30—Use Balloons or Clowns for the Kids

It’s a rare business that can’t find an advantage in attracting children, principally because adults who pay for goods and services follow their children. Using balloons and clowns to attract and occupy the children ffers you an opportunity to speak to their parents. Adult parents

oworldwide appreciate the attention shown to their children. Clowns entertain, and balloons are excellent take‐away items for the children. f possible, be sure that they are filled with helium which will make them float Ion the end of a string tied around the neck of the balloon. Also, be certain that every balloon given to children has your logo or your rade name on the balloon. This is a follow up way to focus attention on your tbusiness when the event is over. Another event which has had great success in some parts of the world is to bring in several animals not indigenous to the area, as a part of a “petting zoo” or an area where kids can interact with the animals. Be certain that the owners/operators of



ti

he “petting zoo” have liability insurance—just in case the animals inadvertently njure a child.

IDEA 31 – Give Away Fre e Ice Cream or Cake

Celebrate your store birthday! Just as everyone enjoys celebrating their own birthday—an excellent idea on the birthday of your business, is to throw a party—which is attended by your clients or customers! This should be a festive occasion, ncluding ice cream or cake—and maybe even party hats, depending upon your ibusiness type and location. Make this as festive an occasion as possible, never hesitate to have a discussion with your clients or customers about how important they are to your business, how uch you appreciate their loyalty and support, and how you would not have been in m

business to celebrate this birthday without their loyalty. If appropriate, a small memento could be made available to each “attendee” as a emembrance. Be sure that each memento is logo’ed and includes your business ame, address, and URL, or Internet address. rn

IDEA 32 - Do a Once-a-month “Product Giveaway”

For those business owners in retail who secure trade stock from vendors, approach your vendor about “comping” an item each month as an item “Giveaway” from your usiness. Collect all entry forms for the giveaway and database this list of registrees,

mers.

bas this list can be used again and again for marketing directly to proven custo Include a newsletter to your key customers that tells them about the events ccurring in your business. Make this newsletter “their” key to what is happening in othe business, and allow them the opportunity to feel “ownership” in the process. As this process is repeated several times, you can determine the number of entries based on the value of the giveaway, and over the period of a year or so, recognize a potential number of entries for the giveaway. In addition, if databased into a computer, you can even project the frequency of visits of various customers to your business. This type of information is extremely valuable in projecting sales volumes nd revenues/profits to be attained, and in making decisions about products or ervices to maintain or manage. as



Remember that the Four Step Cycle of Management includes Planning, Organizing, Leading, and Controlling. Having names and addresses of customers elps you in three of those four areas to better manage your business. Control is our issue to address. hy

IDEA 33 - Use the Names Generated from Any Giveaway for Direct Marketing

As you have the list prepared and itemized of business customers and clients from Product Giveaways and from Samples you have made available—as well as the client lists from any talks about the business you make, you can now utilize those names, addresses, and/or email addresses for Direct Marketing. Onetoone marketing is the most effective marketing which you can accomplish, and marketing materials sent directly to a proven user ill prove to be quite successful in bringing the customer or client

wback to the premises. Guard this list of proven customers well, as it is a valuable list of individuals who have entrusted you with their business. When developing mailing lists, you will always have at least two lists; a list which itemizes targeted users, and a list which itemizes proven users. The proven users list is the most valuable list you can use. These individuals have injected funds nto your business previously, and, consequently, have a higher percentage iopportunity of spending with you again. If you find other ways to incent proven clients, such as coupons or bundling of goods or services, you can assure yourself of sales results. Many businesses keep two separate lists of customers—a list which has been proven to generate sales mmediately, and a list which has been proven to build business more slowly, but roader in scope. Both types of lists are important. ib

IDEA 34—Develop an Audiotape Library and Loan It to Schools and Organizations

any schools and organizations have the ability to listen to audiotapes on cassette,

M


but do not necessarily have the ability to watch a DVD or a presentation online. Whenever you are asked to deliver a talk to an organization about your business, take along a small microphone and a digital recorder, and record what you say about your business. Have copies of this made into an audiotape, and offer


those to local schools, colleges, universities, or organizations, as they begin their study of business. You will find that they will play your audiotape to a larger nd larger audience. The key here is to establish yourself as the Obvious Expert in athe areas of business you discuss. You will find that those attending and listening to the audiotapes will visit your business to find out more. Those who have listened to the material may even have questions about topics you have discussed. In this way, you will expand your circle of customers outward from your business, and create a strong sense of connection with those who accept you as an expert. You may even be asked to help others set up their businesses because of your experience and abilities. Although it will be ifficult to add these individuals to your database of customers and clients, try to dcollect as much data about them as possible. Be sure to include a discount coupon inside every audiotape case so that the listener can not only hear your presentation, but come to your location and visit and discuss he business with you. Many also include surveys for the listener to assess the value f the material which he or she has heard. to

IDEA 35 - Rename your Prod

short anecdotal story proving that it is always possible to upprice items. How esented.

uct and Up-Price It

Amuch more you can charge depends on how the items are packaged and pr Several years ago, in consulting with an ice cream shop, we discovered an nteresting phenomenon. We could reposition or rename a product and increase the iprice of the item while increasing both trial and ultimate sales. While a two scoop sundae including one dry topping, one wet topping, with whipped cream and nuts could be sold for $2.39— exactly the same product—but amed Mary Jane’s Delight—could command $3.59. This was exactly the same nproduct—but it was perceived differently by the customer. Perception is reality when it comes to marketing. While customers could order the components or the pieces of the end product at a lesser price, adding a name to it eemed to increase the perceived quality to a point where it could command a ssignificantly higher price. Learn from this lesson as you look at products you have available in your business which could be repackaged, repositioned, and repriced.



If you own a hair salon, structure a package including shampoo, rinse, and new brush for one price—15% over the individual components—and name it. If you own a pet store, structure a package including pet food and a new feeding bowl for one price, or a one price fishbowl, fish, and fish food for small children. Many pet shops which sell small turtles also sell a “turtle pen” which allows them to have an nvironment where they have water, sand, and can walk around—at least as much eas turtles will walk around. If you own a business which sells services, structure some of your services in a package, or create a package—even with other businesses—so that your clients will see a full value package of services. Accountant? Handle not only bookkeeping but tax returns. Management consultant? Develop a business plan and a marketing plan for the client for one price as opposed to charging separately. Business coach? Put together a package of three coaching sessions and one with a “super coach” who will support your ongoing efforts. In this way, your client has a coach and has a “mentor” elationship. Upsell your packages and create more interest and a higher price point or your sales. rf

IDEA 36 –Become the Obvious Expert

Provide seminars on Developing Your Own Business. American Consultant lsom Eldridge coined the term “Obvious Expert” to explain what every business Eowner would like to be…the “Obvious Expert” in his business. The Obvious Expert status extends across the business you operate to the marketing which helps you to build your brand for your business. Eldridge discovered some years ago that being perceived as an “Expert” in any area immediately led credence to the experience you possessed in that area. Moreover, he learned that people who want you to share this experience will pay to have you teach them. Hence, he coined the term “The Obvious Expert.” In his book How to Position Yourself as the Obvious xpert, he discussed business and business management from the perspective of Eover 150 different experts around the world. Each expert was a notable author or lecturer in his/her field, and had a variety of credentials to attach to his or her name. This is the same process which you should follow with your own business. After all, who better than you knows how the business is set up, how it operates, what it needs to be successful? All of these uestions could be packaged into a half day seminar, and you could teach others hat you have learned in the time you have been in business.

qw



This is an excellent way to augment the income of your business—by sharing with others the lessons you have learned in the business development process. Be sure that any publicity you garner from this approach presents you as the Obvious Expert in this area. It is important for your exposure to the general public to paint you as this expert. As the expert, you will not only build your business, but will gain added PR value when questions are directed to you, or your Counsel is ought in areas in which you work, and you will find that you are always noted as he “Expert” in this area. st

IDEA 37 –Offer Liberal Credit Terms on Larger Purchases

Although it seems like a very simple concept, you would be amazed at the number of usiness owners who simply do not understand the underlying concept of selling bmore at a slightly lesser price. You will often find in business that potential purchasers of your goods or services ill ask if you will offer them better terms for larger purchases. It has been our w

experience that there is no correct answer to this question but YES! When you consider that the two underlying roles of business are to drive innovation and to create profit—the creation of profit, in many ways, can be determined more than any other set of variables by the total amount of sales generated. It only makes good business sense to accept a slightly lower fee for a larger order. And offer liberal credit terms to the buyer. Recoup your costs in the first payment. Then offer xtended terms, recognizing that each additional payment made will only add to the eprofit which is generated. Another extension of this is to offer excellent clients a revolving credit plan which llows them to pay monthly for their services based on an invoice you will present o them. at

IDEA 38 – Sponsor Sports Teams Where Possible

Sports are a worldwide phenomenon which attract both males and females, and are enjoyed by all ages. The specific sport which is of most consequence depends where in the world you are located, but—as a general statement—the sponsoring of sports teams wherever possible will be an investment which will pay off handsomely.



Not only will you have your logo on the sports jerseys each time the teams take to he field, but it’s entirely possible that you will be offered the opportunity to sell tteam jerseys, team outerwear, etc. Seize upon the opportunity to put your business logo on everything possible associated with sports. That continues to contribute to the top of mind awareness hich is generated by your name and logo, and as you build top of mind awareness, w

more and more people become associated with your business. Seek to have any sports team members you sponsor visit your business on a regular basis, where fans can mix and mingle. Get the team to do a “meet and greet” if you have a retail business, or have them invite you and/or your employees to team atherings. Take important customers to the meet and greet so that they can enjoy he mix and mingle, too. gt

IDEA 39 –Write a Series of Articles on “Developing Your Own Business.”

With the explosion of digital media worldwide, readers are always looking for nteresting stories or “how to” articles which allow them to assess the ease with

ctivities.

iwhich they might be able to replicate the a At any given time, anywhere in the world, there is a market for a series of articles ou would write about your business… especially if you are a good storyteller and ycan weave your experiences into the basic concepts of business. Business owners are not always experienced and often make serious mistakes. There is no other excuse for the 60%+ of businesses which fail in the first year, worldwide. If business owners were more astute, they would listen to those who ave experience in the area of business creation. You have that experience, or you hwould not be reading and studying this material. How should you start? Start at the beginning. Start by telling a reader how you got involved in business. Talk about your business principles and how you apply them to what you do. Talk about the key concepts of honesty, integrity, and faith to the ream you hold about your business. Talk about the difficult times you’ve had and dthe keys to business success. Many types of articles will find a home online or in newspapers. As you continue to write, more and more of your customers and clients will see your writing, and it will



create an image in their mind of a truly successful businessperson. This will translate to business growth and development, which, in turn, will fuel more riting. Don’t be afraid to tell your story; it will be unique, interesting, and help w

build your business! The most important part of this is the story that you tell your readers. The critical part of it is to invite your readers to follow up with you and ask questions, visit your usiness and discuss your ideas about business, and learn why you have done the bthings which you have done to make your business successful. Even if your business is not as successful as you would want, always present your usiness to the world as a successful ongoing concern. Present yourself in a ompletely positive manner and find ways to create synergy with your readers. bc

IDEA 40—Have Your Customers Tell You What They Want— Make It Easy for Them

One of the keys to success in business is to satisfy the needs of the customer or lient. But how do you know what the customer or client wants? This answer is one

ly ask them.

cof the more simple answers—simp “What,” you say, “do you mean?” We mean exactly what we say. Ask your customers what they want. We mentioned earlier that running surveys was an excellent way to get feedback from your clients or customers. Another great way to gain feedback is to offer pre‐paid mail‐in comment cards. Customers will often anonymously offer you feedback that they ight be more hesitant to share—especially about employees or interactions which m

employees have with them. Finally, if you own a business which lends itself to client participation, we’d suggest that you conduct your own focus group studies. Before you make changes or add additional products or services, ask your customers how they feel about it. It’s critical to your business success that customers and clients feel comfortable with hanges you make to your business, so use the ability to ask them directly as a trong positive in your business. cs



Once a month, invite 10 of your best customers to discuss what they believe is the most important part of your business, and discuss how to improve your response to onsumers. This will become an important part of your marketing understanding of our business. cy

IDEA 41 Keep Your Marketing Running for at Least 60 Days to Determine Success

Most Marketing Gurus will tell you that you must run any marketing program for at least 60 days, and generally 90 days to see results. While it’s true that some marketing programs can show results in a phenomenally short time, those results ttained are generally impulse responses, and don’t represent a true return on your

amarketing dollar. It’s important, too, that you recognize jumping from one marketing program or

age advertising program to another confuses clients and customers. When one messis started, another message disrupts the flow of information to the customer. o attain the highest marketing response, it is critical to maintain an acceptable Twindow of time for your programs. Also, tie more than one marketing program or project together. Do not let one marketing program determine whether or not your marketing program will ucceed; conduct multiple programs at any one time. Track the results attained with ach and determine how best to spend your money for future marketing efforts. se

IDEA 42—Wherever Possible, Stress Quality

The pursuit of quality in our business will always win out over any other marketing or advertising program. Many of today’s premier Marketers will tell you that you should market at Full Price and stress the quality of your program as opposed to cost cutting, which negates the value of your program in the minds of onsumers. The concept of MVP, or Maximum Value Perception for the customer, cis worldwide in scope and importance. Using pricing as a technique in your marketing drives a wedge between you and the customer. When you attempt to bring your full price back to the table, you will find strong consumer resistance to the full price. “After all,” they think, “if you’ve been ble to make it by selling at a lower price, that’s probably what the price should ave been all along.”


ah


Marketing and advertising as a science is difficult enough without creating consumer resentment about your offer. Stress quality in every product offering. Focus not only on the quality of products offered, but also on the quality of those working for you. Employee service is a key element of customer satisfaction. If you onstantly focus on the strength of your offering, and how your products exceed hose of the competition, your MVP will prove itself out. ct

IDEA 43 Learn to Talk to Customers about Their Needs, Not What You’re Selling

Too many business owners are more focused on what they sell than on the needs of their clients or customers. When a Consultant is asked what he/she does, the answer should always be, “Whatever the client needs.” Business owners should also focus on selling what the customer or client needs. The astute business wner will carve a time out of his/her busy schedule to speak with customers or

oclients. What will he/she ask? It’s probably more important that they simply learn about their clients than ask a specific set of questions of each. The knowledge of the client will assist them in structuring the direction of the business. Every business owner hould plan on spending at least 25% of his working time simply talking with his sclients. ithin this 25% of your time, ask questions. Don’t try to sell a customer on what ou have available—let them sell you on what you need to be doing. Wy

IDEA 44 Find a Way that Your Products Will Make a Customer Look Better

ere’s a radical idea with grounded proof in research findings, although many usiness owners will not want to believe it.

Hb If a product makes a customer look better, he or she is 74% more likely to purchase it. As human beings, we are, basically, vain. We want to appear to be more ttractive to other human beings, and will invest funds in many different ways to do a


so. As a business owner, if you have products or services which improve the appearance of your clients, you are significantly ahead of business owners who do


not have this advantage. Combining this idea with the discussion idea with clients is a win‐win way to find out what a client wants, and how to use it to make him/her ore attractive. Keep in mind that perception is reality. The customer does not m

actually have to look better—only has to believe that he/she looks better. Since it’s been said that a customer or client thinks that his name is the sweetest sounding name in the world, it follows that any positive spin which can be put on the appearances which a client presents to the outside world will improve your ales base. Find ways in which customers or clients will tell you that your product or ervice improved their appearance to the outside world. ss

IDEA 45 –Focus on Developing Prospects Rather than on Enhancing Customers

When a proven customer arrives in your business, it’s always important to welcome them and prove their value to you. But as a business owner, it’s probably more important for you to focus on developing potential prospects. If you have a defined prospect program for identifying new prospects, you should always be sure hat you and all major employees in your business focus on this critical part of your

tbusiness. If you do not have a formal prospecting program, develop a plan to identify prospects and start the process to move them from the prospect status to customer. Why? The prospect offers you not only a new source of income and revenue, but lso offers you feedback and knowledge about competitor’s products and specific aconsumer need. Create this important role with subordinates in your business. Award subordinates in your business when they present business intelligence about other businesses hich helps in the business development role. Award customers when they tell you f items you could offer which would increase their satisfaction. wo

IDEA 46 –Use Social Marketing to Your Benefit: Online Customers Are Loyal.

Social marketing is the newest marketing phenomenon online. The use of blogs, Facebook, My Space, Linked In, Twitter, and other social marketing sites allow customers to keep in touch with businesses and vice versa. Social marketing allows customers to register their support and encouragement or register their unhappiness with new offerings, with new pricing, or with new business design,



layout, colors, or even a new logo. Social networks are communities of users and they function as tools to connect with your business users, but they are not ecessarily the same thing to everyone. Everyone sees them differently and uses nthem to communicate in different ways. How can you take advantage of this phenomenon? Go online, register your business with some of the Social Marketing sites and then start talking to our customers. You will also find prospects that search you out via social ymarketing. We’ve heard comments that using social marketing might be bad for business. Nothing could be farther from the truth. For years and years, telephone landlines were “party lines” where as many as 13 different users gathered on one set of copper wires, and each party could hear what the other parties were aying. So it is today with Social Marketing. The party line is just significantly slarger—it is the Internet, and it covers the world.

l Business Newz, asks a ial Marketing is for you.

The American business writer Chris Crum, a writer for Smaleries of questions to assist in making a determination if SocnswersA

these questions and your direction should be clear:

ustomers? Is this network helping me commm

unicate with my c unicate with me? Is it helping my customers com

Is it opening the door for sales?

Is it strengthening my brand?

Is it helping me promote products/offers? Is it helping my company's reputation?

Is it helping me broaden my list of useful contacts? ocial Media Guru Chris Brogan offers what might be a determining reason on hethe

Sw

r or not to use Social Media as a part of your overall marketing campaign.

"It’s not all about the conversation. It’s not a matter of whether you get it or don’t. Like all things, it’s finding what works, building from a foundation, measuring progress, and adapting to new situations."


Use Facebook as one of your first efforts to connect to your customers or clients. Develop an online blog and tell the world about your efforts to build your business. Do not be surprised when your customers or clients start telling you how to improve. Bloggers are, by nature, a devoted group—both positively, and negatively.


If you’re doing something wrong, they will tell you. Use their negative comments to paint solutions in a positive manner. Focus the challenges with which you are faced in a way which will allow your clients or customers to participate in the resolution f any challenges you face. Ask their advice. Participate in their forums online. Offer nput—not excuses, but explanations‐‐ when they are negative about your efforts. oi

IDEA 47 – Focus on What Your Competitor Is Doing: Is It Working?

When business owners look to other business owners for success and see that success has been achieved, they often replicate what has been achieved. And there is absolutely nothing wrong with that. Success is often fleeting, but when seized in a business, the business can be enhanced and strengthened. It’s important for business owners to look at business layout, business operations, and business esults—and use these observations to make the operations of their own business rmore successful. Business owners may be able to reduce costs, improve operations, and address needs in ways previously unrealized. ever hesitate to take the best of your competitors and implement what they are N

doing into your business. eward your subordinates and employees for presenting you with solutions to hallenges in your business. Rc

IDEA 48 –Solve Probl

It’s easy to recognize that businesses survive to satisfy the needs of the client or ustomer. But what if that client doesn’t understand his needs? What is the

ems Your Clients Don’t Know They Have

ccustomer does not know he has a problem? Good business owners will investigate all the needs of the client and offer lternatives for resolution of his/her challenges faced and identify for the customer athe alternatives which exist to meet his needs.


How does this enhance marketing? In a clear cut way. Marketing is the influencing of decisions made in a way which sometimes is very open and sometimes occurs below the decision‐making level. If you as a business owner are able to help a client solve an issue before it becomes an issue, you will convert a prospect into a customer for life.


H ow ca identified? n you solve issues for clients which they haven’t

Ask your clients what challenges they are facing.

Discuss the opportunities they face and how to resolve them. Develop a multi‐person group to focus on their challenges.

Never hesitate to ask probing questions which may assist in recognition of additional challenges they face.

IDEA 49 –Spend As Much As You Can Afford to Spend; It Will Pay Off Handsomely.

One cardinal rule in marketing is to spend as much as you can afford to spend. Throughout this series of ideas, we’ve stressed, “use the best paper you can afford.” “Print using color for the best effect.” We will now add to that, if you are purchasing edia advertising, purchase the best media advertising that your budget will allow

myou to afford. Why? Marketing is a zero sum game if not planned for impact. The process of marketing depends on creating a need in the mind of the consumer for goods and services. The process of advertising is the conveyance of that process. It stands to reason that the etter the marketing, the better the advertising, the more impactful it will be on a bconsumer as he or she makes a determination about the business. Even if a consumer is making a decision on the subliminal level, they will appreciate he higher level of advertising and marketing and that will impress and influence tthem in a more positive manner. Influencing the customer or client is the objective of your business. Use the dollars ou have wisely and buy the best program that you can for the money you ave to spend. yh

IDEA 50 –Advertise for Additional Employees for “New Operations Pending.”

In creating an image of a successful business for the consumers, it’s often eneficial to advertise for additional employees. This serves three immediate ur s

bp


po es:

1. It conveys the image of a very successful business; one which is growing and seeking additional employees to open other branches or business locations;


2. It conveys the image of a successful business owner—one who is in tune with his/her business and understands the dynamics of the changing marketplace and the marketing needed to address that marketplace.

3. It may assist you in identifying new and more senior employees who are drawn to the operation because of “new operations pending.”

IDEA 51 – Offer Your Vendors Free Tim

When you work with vendors in your business, offering the vendor an pportunity to display their wares in front of your customers offers a he om

e in Front of Your Consumers

n enal opportunity to all three parties.

1. It allows the customers to see new and varied merchandise which they might

op

otherwise not see;

2. It allows the vendor to get direct feedback from a real, live, customer base,

and

3. It allows you as a business owner to be able to better assess how your customers interact with this specific vendor.

Marketing depends to a great extent on communication. Communication between all he stakeholders in a sale transaction always results in a better understanding of the omponents of that relationship. tc Section 3 Other Marketing Concepts for Consideration As you develop your business, you will find that many ideas from other businesses may be translated into action in your business in ways which you may not have foreseen. Concept transplantation is rampant in business, with segments of retail usinesses duplicating concepts begun in other businesses. There are few new bideas; simply transplanted ones. Personal Selling is based on writer Robert Louis Stevenson’s quote, “everybody lives by selling something.” It has been expanded upon by the process of using a sales force to market a variety of products at a variety of prices. Each person within a



personal selling model serves as a marketing tool for your business, and each person wears the equivalent of your logo on their sleeve when representing products and services. Most direct sales personnel are well trained, well managed, profit‐oriented and motivated individuals who represent your products or services well. Their role is to listen to the client or customer, understand his/her needs, and lend your company’s ability to service those needs into your product or service ffe ng steps such as: bo

ri . This is generally defined as a series of

ualification of Clients 1. Prospecting and Q

2. The Approach

se of the Sale 3. The Presentation 4. Development of the Clo5. The Follow up Process

irect sales profes D sionals can fulfill an amazing role in the growth of your business. Direct Marketing. Direct marketing online generally uses databases of clients with pre‐identified needs, after which, those needs are addressed with your products or services. Many examples of Direct Marketing exist. Direct mail is one of these forms, entioned previously, but direct marketing addresses an interpersonal on c he following: mc

ne tivity. It can include t

g 1. Face‐to‐Face Sellin

2. Kiosk Marketing

ing radio direct advertising

3. Catalog Market4. Television and 5. Telemarketing

Although all types of marketing may not be applicable in all areas, a wealth of information is available online for those business owners who want to pursue any form of direct marketing.

Relationship Marketing. There is no substitute for word of mouth marketing. If clients or customers tell other potential clients or customers about your business, and say good things about what you’ve done for them, there is simply no amount of money that can purchase the goodwill created.

Jeff Stripp, in his online Ezine article, “Different Types of Marketing,” discusses the importance of word of mouth and has this to say about word of mouth marketing at http://ezinearticles.com/?Different‐Types‐of‐Marketing&id=906797


http://ezinearticles.com/?Different-Types-of-Marketing&id=906797


“Word of mouth is still one of the most powerful forms of advertising on the planet. The best word of mouth comes from satisfied customers. Go the extra mile for them, and really work towards building relationships with your customers. This will result not only in more leads but they'll keep coming back to you in the future. Try running special promotions or coupons for these regular customers to help them feel that they are special and you'll really be able to continue to build on these relations

Ajeet, a Marketing Expert with the website Answerbag, at

hips in the future.”

http://www.answerbag.com/q_view/4069, summarizes our assessment of Marketing Methods in this way:

There are 3 main types of marketing: undifferentiated marketing, differentiated marketing, and concentrated marketing.

Undifferentiated Marketing assumes everyone is the same and aims a particular product at everyone.

Advantages: Easy to plan, doesn't miss anyone.

Disadvantages: Can be wasteful, ignores segmentation, can lead to disappointing sales.

Differentiated Marketing aims the product at specific segments in the market. The company may be trying to sell exactly the same product to different segments but it will change its promotional methods and the image it creates.

Advantages: Separate mix can be developed for each segment; different markets can be easily identified.

Disadvantages: Ca ss some customers. n be costly, message may by‐pa

Concentrated Marketing aims at just one small market.

Advantages: Small firms can concentrate their marketing, allows a specific mix to be developed.

Disadvantages: Ignores other areas of the market, can cause problems in future as may make it more difficult for company to expand.


http://www.answerbag.com/q_view/4069


In Closing… n today’s recessionary spiral, every good business owner wants to do more with Iless. Every business owner seeks ways to increase sales and revenues. Period. There are always challenges to increase customer traffic, increase website traffic, or to increase mail orders, more effectively, for less money. Your business can be a simple mail order business, an online venture that sells hundreds of items across orders, or a multinational corporation which employs hundreds and hundreds of bemployees. And yet, everyone seems to want to present Marketing as a nebulous and the most difficult part of running a business. You need to know what to do, you need to study how to get your marketing message right, you must focus on marketing to customers or clients in this specific way, you need to understand segmentation and arket demographics, or you won’t be successful. It’s enough to make you throw our hands up in disgust! my ut now, you now have the knowledge and the tools to boost your sales and ttract rs. Ba

new custome

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ou have read The Small Business Development Program and completed the first .

Ypart of your trip

your knowledge and use the tools—diligently and correct. Now you must apply Remember: You can succeed!




Appendix


MARKETING D

UE DILIGENCE CHECKLIST

Client

Physical address City: State: Post Code: Country

Personal Contact Information

Name:

Home Telephone:

Work Telephone

Fax:

Email

In most cases, we develop a Marketing Plan for our clients. If so, what is your purpose for developing a Marketing Plan? Who is it for—who is targeted? How will it be used?

Discuss the business background of the ownership group emphasizing any past business ownership and directly related experience. Discuss any existing employees as sources of resource information.



How is the management of the company organized? This can be directly tied to the potential success of any plan we develop. Is the company a Corporation? Where is it registered?

What specific industry shortfalls, voids in the market, or competitor deficiencies have you currently identified as strategic or tactical opportunities? We will, of course, analyze the marketplace, but please share your thoughts.

How do you believe you can capitalize on these opportunities? What steps need to be taken? Specifically, what concrete and measurable goals and objectives have been currently established?

What are the keys, in your mind, to ongoing success of our marketing venture? What current success stories can you share?



Describe your target market. Who is your customer? If your group is part of another group (especially with a subcontracting or licensing relationship) give examples of targets.

Discuss the market size and any trends to include the current size of your target market, growth rate, changes occurring in the make-up of the market and changes affecting the need and/or ability to afford your products and services.

What strategic (long term) opportunities are presented by your target market?

Is overall competition increasing, stable or decreasing? Why do you think so?



Compare your business in your mind to the competition in your marketplace. List competitive advantages between yourself and the competition, considering such factors as price, quality, and perceived value; differences in product and service platform, financial resources, marketing budget/program, access to suppliers, operational efficiencies, and strategic partnerships.

What barriers to entry are currently in existence which might make it difficult or impossible for any new competitors to enter the market?

Share any of your ideas about marketing strategy. How could we differentiate you from the competition? What makes you different, unique or better? What makes you stand out? New techniques? Unique products? Any element of superiority? What’s the sizzle?

Please describe your business landscape. Be specific. What are your strategic advantages?



Where would you perceive the level to be where you are successful? What do you envision as success? Percentage increases? Numbers of employees?

Describe your ideal long term or exit strategy.

When completed, please return to Justice Mandhla at FAX +27 086 685 7642 or electronically to [email protected]


mailto:[email protected]



Boost Your Sales and Attract New Customers...

TThhee SSmmaallll BBuussiinneessss DDeevveellooppmmeenntt PPrrooggrraamm will help you understand the importance of Marketing and Market Planning to achieve your Business Success. By following the learning roadmap—completing each component of the Program—you will expand your knowledge of marketing and advertising of your business.

Here’s what you will learn in this book…

You will learn to set your personal goals and analyze your

business. The SWOT Analysis and Goal Tools will allow you to

customize this Program for your own business needs and allow you to start the Marketing Planning Process for your business

You will learn how to customize your own specific business needs and achieve your Business Goals using the Workbook and Business Success Wheel.

You will learn how to join together all this information into a series of Marketing and Advertising Models that will offer you a variety of ways to expand your current Marketing Program.

What is the ultimate outcome of this book? Attract more customers Sell more to existing customers Bring back your old customers

No matter what product or service you sell, making your dreams a reality is the ultimate outcome of this book.

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Documents

Boost Sales & Attract New Customers