Owners and businesses are always looking for ways to market themselves and get their name out. Social networking is an easy and fast way to get your business name out to the public. When marketing is continuous and targeted business gets easier. If prospects have a positive view of your wares and reputation before you call or they start shopping, you’re that much closer to nailing a sale. Here are 10 cheap and successful ways to market your business.
1. Take steps to make customers feel special. Customers respond to being recognized, especially in these rush-rush, get-the-lowest-price times. Take time to recognize and appreciate your customers.
2. Create business cards that prospects keep. Most business cards are tossed within hours of a meeting. Instead of having your card tossed, create one that recipients actually will use — say, a good-looking notepad with your contact info and tagline on every page. The business card notepad is referred to almost daily, kept for 30 days or so and carries a high remembrance factor.
3. Stop servicing break-even customers. If this idea makes you gasp, think harder. You're falling for the fallacy of increasing sales instead of boosting profits. If you stop marketing to unprofitable customers, you have more time and resources for customers who actually grow your business. More than likely, 20% of your customer base is contributing 150% to 200% of total annualized profit (TAP); 70% is breaking even; and 10% is costing you 50% to 100% of TAP. Take a detailed look at your customer profitability data and then direct premium services and marketing to customers who count.
4. Develop an electronic mailing list and send old-fashioned letters. Most businesses have harnessed the power of e-newsletters — and you definitely should be sending out one, too. It's very cost-effective. But exactly because e-mail marketing is now nearly ubiquitous, you can quickly stand out by occasionally sending personal, surface mail letters to customers and prospects. Just make sure the letter delivers something customers want to read, whether an analysis of recent events in your field, premium offers or a sweetener personalized for the recipient: a discount on their next purchase of whatever he last purchased, for instance. This mailing has to have value to those that read it, so it reflects the value of what you offer.
5. Boost your profile at trade shows and conferences. You can quickly create signage, glossy postcards with your contact information, product news inserts or an event mini Web site.
6. Combine business with pleasure — and charity. Spearhead an event, party or conference for a cause you care about. That puts you in the position of getting to know lots of people, and shows off your small business leadership skills. This is a great networking task.
7. Create a destination. Bookstore chain Barnes & Noble has its coffee bars. Furnishings giant Ikea offers child-care centers and cafeterias. Why? So customers gravitate to the stores to enjoy an experience, to hang out for a while. Sunday morning at Barnes & Noble becomes a pleasant weekend routine, rather than a shopping errand. Steal this idea. This tip isn't limited to offline destinations, either. Using pay-per-click advertising, you can cheaply drive traffic to a one-time news event or specialty offerings.
8. Become an online expert. This is the "free sample" approach to bringing in business. Research active e-mail discussion lists and online bulletin boards that is relevant to your business and audience. Join several and start posting expert advice to solve problems or answer questions. You may need to keep this up for a bit. But the rewards come back in paying clients and referrals.
9. Court local media. Editorial features convey more credibility with prospective clients than paid advertising does. To get coverage from the local media, whether from the town newspaper, from TV or radio stations, or from trade journals, you need a fresh, timely story. It's usually worthwhile to hire an experienced publicist to position the stories, target appropriate media representative and write and send press releases. Usually, you can work on a short-term or contingency basis.
10. Finally, don't let customers simply slip away. Make an effort to reel them back in. It costs a lot less to retain a disgruntled or inactive customer than to acquire a new one. If you haven't heard from a customer in awhile, send a personalized e-mail inquiring whether all is well. For a customer who suffered a bad experience, pick up the phone, acknowledging the unpleasantness and ask if there's anything you can do. A discount can't hurt either. Being kind to customers is the smartest low-cost marketing you can do.
These are 10 easy steps to follow and help create opportunity and success for your business.
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