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We hope you find this arcthve useful. A subscription to The Small Business Advisor Newsletter is free. Subscribe now - it's easy! The Small Business Advisor Newsletter for January 1999
CONTENTS
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Y2K! Less than a year remains for you to ensure your small or home based business is Y2K-ready. Check The Small Business Advisor, http://www.isquare.com, and click on YEAR 2000. Also note that the IRS is allowing current-year deductions for costs related to making your computers Y2K compliant. Check with your tax advisor. BUSINESS INSURANCE. Just a reminder that if you are operating a home-based business the chances are good that your homeowners policy will not cover business-related losses. However, most insurance companies can accommodate your small business needs. Check with your agent. Do it now before you forget. LONG DISTANCE TELEPHONE TIP. Don't forget to check each month's statement to ensure you are not being overcharged AND that you haven't been "switched" to a new long-distance carrier! To check who your current carrier is call (toll-free) 1 700 555 4141. HEALTH INSURANCE. Self-employed and looking for health insurance? This is always a problem but check with the NASE (National Association of Self-Employed) at http://www.nase.org. USEFUL WEBSITES. Here are a couple of sites in which you're sure to find something you can use: The U.S. Business Advisor; http://www.business.gov; Provides business with one-stop access to federal government information, services, and transactions. Also good info and links for doing business with the Federal government. Check out http://www.sba.gov/hotlist/ for a listing of over 3,000 small business related sites. STOP STALLING! FAX LETTER. If you're having trouble getting a prospect to return your call, try faxing a letter similar to this example provided by my marketing friend, Dan McComas. He's had an 85% response rate (either a call or a fax) using this format. Hope it works for you! January 4, 1999 Hope you're doing well. Sorry we haven't been able to re-connect on our discussion about helping you generate more leads and sales. Would you do me a favor? Would you please check a box and let me know where you are regarding our marketing discussions. _____Dan, I'm swamped but still interested in having you help us with our marketing, PR and advertising. Please call me on _____. _____Sorry, Dan, we probably won't be needing your services until____________ Butch, please fax your response to me at 301-946-4104, or give me a call at 301-946-4284. Thanks! Talk with you soon. Sincerely, ++++++++++++++++++++++++
You are probably spending a good deal of time and money finding customers but don't forget that keeping them is just as important. Maybe even more important. Remember that it is much less expensive keeping a customer than finding a new one. Keeping customers means keeping them satisfied - do this and you gain another sales person for your business! Satisfied customers love to talk about their positive buying experiences. It is important to try and see yourself from the customer's perspective! Little things make a difference. Be willing to change anything that makes a customer the least bit uncomfortable. Call your own business - did you get a friendly voice? The help you needed? Would you call again? I'm sure you don't need reminding but … just in case … treat your customers just like you would want to be treated! These suggestions will help you keep existing customers: 1. Make sure your employees understand that a customer is as important as you and that their continued employment is directly related to how that customer is being served. 2. Stay in touch with existing customers. The best customer is a repeat customer. Let them know you're still around - use e-mail, phone calls, send birthday cards, postcards, etc. I get a birthday card for my car each year from the dealership - very clever! 3. Don't use an answering machine unless absolutely necessary. If you do, keep your message short and to the point - don't waste your customers' time! Again, if possible, don't use "multiple level" answering devices. Press 1 for; Press 2 for; etc. Doesn't this drive you crazy? Your customer is no different. If possible, answer the phone yourself. You are your own best sales person. 4. The customer is not always right BUT if you find yourself in a situation in which you are trying to satisfy a customer remember that you want this customer back! Be contrite and attempt to educate rather than argue. You may lose but … you may win! 5. Remember that EVERYone is a potential customer so treat everyone accordingly. Don't be fooled by appearances, etc. 6. Make sure your telephone is answered within TWO rings. Before picking up the phone put a smile on your face. It's hard to sound unfriendly while smiling. Be upbeat and stay focused on the call. 7. Periodically provide something free for your existing customers. 8. Have "preferred customer" sales. 9. Remember that "your computer" is never at fault. If a customer has a problem it's YOUR fault. Don't make your problem the customer's - fix it quickly. 10. If you deal in an expensive product or service with only a few customers, follow up each sale with a formal written communication thanking the customer for their business and letting them know you are always available for further assistance. ++++++++++++++++++++++++
DO YOU QUALIFY?
BENEFITS OF CONVERSION
FACTORS TO BE CONSIDERED
FOUR YEAR SPREAD
ABILITY TO "UNDO"
A ROTH CONVERSION CURRENT YEAR CONTRIBUTION
REQUIREMENTS The ROTH has greater liquidity and broader access than a regular IRA but it is complex. We suggest you consult with your CPA or other tax professional. ++++++++++++++++++++++++
Jake knows he has to have a big Christmas season and somehow keep sales coming in through the slow first quarter. "I'm a small business. I don't have big cash reserves or lines of credit to tide me through slow times," he says pointing out a challenge almost every small and home-based business faces. Hoping and wishing won't get customers ringing your phone. You've got to advertise and promote. Even on the smallest of budgets you can achieve considerable advertising success if you follow this single, simple rule. TARGET your advertising and publicity. Nothing else makes advertising work as effectively. On the other hand, bad targeting will doom your marketing from the beginning no matter how much money you spend. What do I mean by "target?" It's a word we use a lot in marketing, often without having a clear idea of what it means. You target effectively by making sure your marketing only goes to the people most likely to buy your products or services. Your big daily newspaper reaches lots of people, but how many of those are really interesting in buying what you're selling? You waste hard-earned advertising budget when you advertise to thousands of people who aren't interested. It is much easier to target a specific group of prospects by using media that specializes in advertising to those prospects. Trying to reach home-based entrepreneurs? Advertise in a newsletter, e-zine, or magazine that targets that specific audience. Glitzy and expensive publications don't always give the best results. Low-priced targeted radio ads, industry newsletters, or neighborhood papers bring in sales. It's not unusual for a targeted ad or press release campaign to bring in 400% more sales than marketing that is not targeted. Start by asking, "Who are my best prospects? What kinds of media do they pay attention to?" You may need to ask customers how they heard about you or how they search for companies like yours. Their answers will give you clues to what kinds of media that group reads and watches. Visit Carol Wadell at The WorkShop, http://www.WorkShopInc.com or e-mail her at mme@workshopinc.com ++++++++++++++++++++++++
Your mission is to get your prospects or clients to act on your offer sooner than later. That means using interactive marketing techniques that ask them to write, phone, request free literature, take advantage of a free initial consultation or seminar program, return a coupon or send a check. Remember, your prospects need (and like) to be given clear, precise directions and it's your job to tell them what to do! People don't like to change or try new products and ideas. If you're convinced that your product or service can help them (and you'd better have that conviction or your sales will suffer), it's to your advantage and the benefit of your prospects to motivate them to try your offering now! Unfortunately, people are slow to move. Most will not respond to your first offerings. But that's exactly why your "9/18" Relationship Marketing System is up and running, right? It's up to you to tell your prospects, clients and customers what you want them to do and to make it easy for them to do it. Rewards Give People A Reason To Read, Listen And Act FASTER! A publisher offered university professors a choice between an attractive pen and an abacus if they would read several chapters of an innovative computer textbook, provide their comments in writing, and return a survey card by a particular date. The promotion worked like a dream. It prodded the professors to open the book, read the chapters and consider a new way of presenting introductory computer curricula. Additionally, thousands of cards were returned and the publisher's salespeople, armed with each professor's favorable comments or concerns, were able to gauge their prospects' degree of interest and answer objections faster. Your Offers Must Be Relevant Try to create offers and premiums that will logically tie in to your product or service. Can you see how the pen and abacus mentioned above were appropriate premiums for professors in the textbook market? Offers and premiums are only limited by your imagination. Here are several examples to stimulate your thinking and rocket your response rate: Offer free consultations,
examinations, seminars, estimates, demonstrations, catalogs, samples,
gifts and survey reports. Why are offers so effective? Think about human nature. People naturally respond better to deadline pressure (remember exams?) and will act faster if they feel they're going to lose out on something. So, whenever possible, try to create a sense of urgency with time-limited, product-limited, one-time-only offers and fast-response discounts to boost your chances for greater responses and results. (Dan McComas is an author, public speaker, and corporate trainer can be reached at 301-946-6636; e-mail: promocoach@aol.com; visit his web site at www.danmccomas.com) Return to top of page - Back to Home Page - Back to Archive Index |