One great need of small business managers for 2006 is to understand and develop marketing programs for their products and services. Long term small business success depends on the ability to maintain a strong body of satisfied customers while continually increasing this body with new customers. Modern marketing programs build around the marketing concept, which directs managers to focus their efforts on identifying, satisfying, and following up the customer’s needs – all at a profit.

THE MARKETING MIX

Before the marketing mix decision is made, determine what purpose these marketing efforts are going to serve. Are they to:

¤ Deepen the customer base?
¤ Increase the market share? If so, by how much?
¤ Increase sales? If so, by how much?
¤ Reach new geographic markets?
¤ Increase customer traffic?
¤ Sell remaining inventory to prepare for a new product line?

After these objectives are established, determine a date for accomplishing the objective.

The marketing mix allows owner-managers to combine different marketing decision areas such as products and services, promotion and advertising, pricing, and place to construct an overall marketing program.

MARKETING PERFORMANCE

After the marketing mix decision is implemented, the next step is to evaluate performance. With a detailed list of company objectives, monitor how well the decisions are developing. Evaluate objectives such as:

- Market share. Has the increased share been captured?

- Is it easy for customers to find what they want at a competitive price?

What to look for:

Market research should investigate four areas: customers, customer needs, competition, and trends. The research conducted should answer questions like: Customers. Identify their age, income, occupation, family size, marital status residence,interests and hobbies.

Customers wants:

- Is the product needed for a limited time (diapers, for example)?
- Are customers looking for quicker service?
- Do customers want guarantees with the products?
- Will customer come frequently (for example a grocery store) or seldom (a car dealership)?
- Are customers looking for a wider distribution or more convenient locations?

Competition:

What is the competitions’ market share?
How much sales volume do they do?
How many similar firms exist?
What attracts customers to them?
What strengths do they advertise?

Trends. Are there:

- Population shifts? (Baby boom, for example)
- Legal or regulatory developments?
- Changes in the local economic situation?
- Lifestyle changes? (single parents, working women, smaller family size)

Where to get it:

There are two general sources of information that can be gathered: data already available and data that can be collected by the business.

The following sources may provide already accessible data:

- Department of Commerce
- Local area Chamber of Commerce
- Trade associations in the line of business
- Professional market research services
- Local library

Data can also be obtained by the business’ own research efforts through the following means:

- Telephone surveys
- Local and national newspapers
- Surveys sent by mail
- Surveys sent by e-mail
- Questionnaires
- Local TV and radio stations
- Interviewing
- Customer service cards

If these objectives were not reached, what were the reasons?  If they worked well, what elements were most effective?  By evaluating performance after decisions, there is reference for future decision-making, based on past results.

In addition, periodically assess customers’ feelings and opinions toward the business and how well their needs are being satisfied. This can be done through surveys, customer comment cards, or simply by asking them, “How are we doing?”

Assessing performance and asking for customer input brings us back around market research again. Your marketing plan is a continuous effort to identify and adapt to changes in markets, customer taste, and the economy for the success of your small business.

Continue reading...

While satisfied customers may be your best sales force, that doesn’t mean they’re the only sales force. There are lots of other people out there who can send business your way if you make the effort to network with them and make it worth their while.

The concept of networking and word-of-mouth marketing is a very hot topic in business today for one simple reason: So many people are starting small businesses that need to find other businesses they can work with for mutual benefit. That’s why you will find no shortage of business,

professional or service organizations through which you can meet other people. The key is to pick them wisely, choose only one for a few organizations that will be good for business networking and ignore the rest. Otherwise you’ll be spending all your time meeting and socializing and not working. Marketing without producing is another surefire formula for bankruptcy.

How do you decide whether or not to join an organization or go to its social functions? Let’s ask another question “Am I likely to meet people there who will buy from me or refer customers to me?” If the answer is no, don’t go unless you have some other reason for going.

The world is full of professional joiners who never met an organization they didn’t like. They go to all the meetings. They hold offices and serve on committees and boards, and since they do all that free work, the organizations love them. Nothing wrong with that. It’s just that when you run a solo business you can’t delegate your work to others while you go out and play social butterfly. Your networking time needs to be marketing time. This means putting yourself in front of customers or people who will send customers your way. With that in mind here are six guidelines for networking with others mutual gain.

#1. Look for businesses that complement yours to network with. for example, put a tax accountant, financial planner, estate planning attorney, stockbroker and insurance agent together and you have five people who can refer customers to each other endlessly. Similarly, a wedding photographer would find it profitable to network with caterers, jewelers, bridal consultants, florists, churches, synagogues and reception halls. When a customer buys from you, what other products and services is he/she likely to want or need? Those are the type of businesses that would be excellent ones for you to network with.

#2. Competitors can also be an excellent networking opportunity. Just because you go head to head with other businesses doesn’t mean that you can’t work together sometimes for mutual gain. Have you ever noticed how one airline will book you on another carrier if it doesn’t have a flight to

the destination or at the time you want? Airlines have an agreement whereby they book business for each other in return for compensation. You may find it useful to work out such an agreement with some of your competitors. Or you may have an informal agreement whereby you refer one of your

competitors to customers for no pay. I frequently refer other speakers to potential clients if I can’t do a date or provide the kind of service at the price the client wants. Other speakers do the same for me as well.

#3. Before going to a networking function, prepare in advance. Bring plenty of business cards. If you want to be remembered, have your picture printed on your business cards and do something with your name tags that will attract attention. Also before going compose and memorize a brief

memorable statement and unique sales proposition when writing the description. For example – if I were going to a networking function my description would be “I like to work smarter through my books, CDs and seminars. My latest work is focused on teaching people how to become financially independent working in a one person business. I know first hand that it can be done and I want others to profit from what I have learned.”

#4. Once you get to the meeting make good use of your time. Arrive early and leave late. That way you’ll meet more people. Don’t stand around and wait for others to come to you. Act like a gracious host. Go up and introduce yourself to others. Find out what they sell and what type of people

they want to connect with. If that’s not you, do you know others who might be of some help to them? If so, pass their names along. Encourage others to tell you about their businesses and you will be remembered as a brilliant conversationalist. If you know someone who might be a potential customer for them, pass the information along.

After you learn about their work, be sure to deliver the short message about your business to everyone you meet. Exchange business cards and write anything you need to remember about them on the back of their cards. Don’t be abrupt, but try not to spend more then 10 minutes with any person. Remember you are there to market your business and to help others. The more people you meet the more chances of forming a few good profitable relationships.

#5. Be sure to ask for leads and referrals. That’s why you’re there. After describing your business to someone ask “who do you know – who?” and describe your typical customer. It might be that person or you remind him/her of some one who could be your next big customer. As you get leads, write them down and follow up fast as possible.

#6. Always remember the Great Law of Life: (What goes around comes around.) If you want to get referrals you need to give referrals. Reciprocity is the basis for all good relationships and it’s especially true in business. When someone sends a customer to you, acknowledge it with at least a thank you note. A small gift is even better and sending him/her a customer is better yet. Keep in touch with those you network with. If you see an article or item of interest to them clip it out, fax or email it to them.

Finally, When you refer a customer to a business make sure it’s a quality business. If The customer gets poor treatment, it’s going to reflect poorly on you.

Continue reading...

If you’re operating any kind of online business, then you’re one of the 90% who have problems getting qualified subscribers to your email list. Whether it’s an ezine, newsletter, or report, the following techniques can help you attract more subscribers.

First, you’ll want to make your website attractive, functional with content that is an attention gabber. With 5 billion web pages to search through, a web site visitor landing on your site is something you shouldn’t take for granted.

How can you expect your visitor to return tomorrow, or next week? If you do not have a sign-up form on your site now, you are throwing away your greatest marketing opportunity. This is the most important marketing tool you can have to build your own database of eager prospects. But, placing the opt-in form on your home page is not the answer. Make it part of your entire site. Build navigation tools that will guide your visitor to fill out your form.

Today’s task of getting people to fill out an email form is like pulling teeth from a Bear’s mouth. However, when you give web users more options to subscribe, they experience greater wonders.

This technique may require a little programming on your part, but it’s well worth the effort. Put your subscription box on other web sites. Look around and find a site that will complement yours. Contact a friend that his/her “niche” is the same as yours. Call or email them and ask if they would be willing to exchange subscription form space with you.

This works best when you ask your partner to put your sign-up form on their site in exchange you putting theirs on your site. Make sure the page on their site is available for the space, because this will require space (depending on the size) to accomplish this. Placing your opt-in form can be done on the left, on the right, or in the middle of any page as long as your partner agrees to it. The same will apply to you when placing their opt-in form on your page.

If you are not familiar with the programming, which is required, ask a webmaster you know to build one that will fit your partner’s page. By doing such an exchange puts your subscribe box in front of people who ordinarily doesn’t visit sites like yours, and definitely grabs their attention to want to subscribe.

This method works extremely well. It will also depend on the site your subscription box is located on. More traffic means more potential subscribers. If you were having trouble getting more subscribers, this proven method will open another door for additional sign-ups.

If you’re starting out to build your email list, you might consider teaming up with other email marketers. There are hundreds, even thousands out there who already own a email database. Contact them to see if your newsletter or ezine can complement theirs. Check and see if they offer ad space of any kind and negotiate a deal for a simple ad exchange. It never hurts to request ad swaps, article inclusions, or even banners.

Viral marketing practices can make a huge impact to your sign-ups. If you only have a small amount of people you send email to, include a forward to a friend link in each message along with a sign-up link for new readers. In the past, you’ve more than likely received a newsletter or promotion from a friend – right? You read it over and want to subscribe, but discover there’s no sign-up link.

Always include your sign-up offer at the bottom of your everyday email. Make sure you have a link to your sign-up form in order to keep the momentum going. Always remember, your email may get forwarded to someone else, so it’s wise to promote your sign-up offer at all times.

If you operate a newsletter or ezine, make every effort to get listed in directories, search engines, and social bookmark sites.

Building your list using offline methods are no different than online, except when it requires a little more ingenuity. You will want to make it a part of your brand identity for starters. Every piece of paper that leaves your office should have a link to your site and/or your email subscription information.

Post your subscription information in your lobby or reception area, at your front desk, or self-standing signs with carry out cards. Place a basket full of business cards next to it, and better yet, let people sign-up right there on the spot. You may even want to include a computer that’s already logged onto your web page sign-up form. The same applies to trade show booths. If you rent a lead retrieval machine from the show vendor, be sure to customize it so you can capture email and permission information.

If you sell in-store items, ask your customers if they would like to receive email notifications from you. When you ring up a purchase, simply let them know what they will be getting and how often. You’ll be amazed how many might say – YES!

Create special business cards with your email subscription information. Like any event, pass out the cards, get to know people you meet. Even if you don’t sponsor any exhibits or have a trade show booth, talk with them face to face and let them know you have valuable information to share.

Promote after the sale. Let’s say your customer didn’t want to get on your email form when given the chance at checkout. They still go home with printed packaging of some form, whether it’s a shopping bag, gift-wrap, or the product packaging itself. Promote a subscription there, too, because (1) they might change their mind and (2) if they’re giving it to someone else, you’ve gained another opportunity.

Send a post card to a rented, permission based list of people. It doesn’t have to be fancy with bright colors. Sometimes that is all it takes to get people on your list. Let them know about your offer and they can start receiving it by email. If you have trouble finding a list, look in the yellow pages in your phone book to find potential subscribers.

Did you know that placing an ad can be as difficult as renting an email database? I’m not talking about placing an ad in Times Magazine. Your local newspaper, your neighborhood newsletter, your Laundromat’s bulletin board. start looking into promoting your offer in everything you read and everywhere you go. The point is – be innovative about your promotion.

When using the telephone, ask everyone who calls if they would like to sign-up to receive further information from you. You will be surprised to find what their response is when they are told what you have to offer. If they call you first, then you have the right to inform them of your sign-up offers.

Use an existing contact database you already have. You probably have one, you just don’t know it. Dig deep into your address book or database to find anyone you ever had a relationship with – anyone who ever bought from you For example; send them a one-time mailing (via email or mail, use whatever contact information you have) explaining that you are starting a newsletter or periodic emailing and ask if they’d like to sign up. Assure them that this is a one-time mailing, and then keep mailing only if they give you permission.

You will want to make sure your email list contains well-targeted, opt-in, permission-based, low bounce/low unsubscribe names. Only use an opt-in or double opt-in subscription method. Double opt-ins are made of the highest quality, since you are guaranteed direct permission from the subscriber and a valid email address.

In conclusion, and most importantly, you will want to offer your subscribers value and relevancy in exchange for their contact information. Tell people up front what they are going to receive. In fact, when you do this, only the interested ones will end up in your database.

The key to successfully building a high quality, opt-in, Permission based email contact list is to realize it’s a continual process. Don’t expect 20,000 names to appear from your opt-in form overnight. But the sooner you start, the sooner you can start building rewarding relationships for years to come.

Continue reading...

For many years marketers were in control and advertised their products and services in order to sell as much as possible of what they produced. However, there has been a seismic shift in recent years and it is now the consumer that calls the shots. This change in the center of control has substantial implications for marketing as traditional marketing practices have been established around the marketer in the controlling role.

At the same time we have been witnessing an increase in the disenfranchised consumer in developed markets. This shows that marketers now have to take into account a consumer who is knowledgeable about marketing and, in many cases, cynical. They may de-construct marketing messages or, in more extreme cases, set up pressure groups to air their views on specific marketers or marketing practices.

The move away from mass marketing towards one-to-one and niche marketing also plays a key role. Consumers will increasingly expect marketers to deliver what they are looking for, not a product or service that is simply designed to appeal to as many potential buyers as possible. They are looking to direct a dialogue with a marketer, not receive a monologue.

The consumer in control is one of the most important Forces of change impacting on marketing today as it is changing so many of the practices and processes that are established. Through the Loop has been analyzing some of the implications of this as part of its Knowledge Development Program.

Why is there a need for more marketing control?

This need for having greater control results from a number of factors. The over riding factor is the rise in uncertainty in life. This has occurred for a number of reasons, some of which are closer to individual consumers and some of which are more micro but make a clear impression.

Major world events can impact on consumer uncertainty and lead to buying decisions being postponed or cancelled. It is too early to be sure of the long-term impact of 11 September However, research has shown that short-term uncertainty may not necessarily dampen longer-term underlying optimism.

Closer to home, there is frequently less stability in consumers’ lives. Changing working practices have meant that there is a job no longer guaranteed for life. Work may not provide the security required for consumers and their families. Furthermore, they may find that their journeys to and from the workplace are taking longer due to traffic congestion. Some have been looking to downshift, opting out of  the normal working environment for a different type of life. Others will look to change how they work within “traditional” employment. Employers and employees have to work together to find ways to bring a level of personnel control back into the workplace.

Time pressure is increasing. A reduction in working hours was supposed to lead to greater leisure time. Have working hours actually been reduced? In addition, there are an increasing number of activities that make demands on precious leisure time. Consequently, there appears to be less time to relax and take things easy. This adds to the level of stress experienced and a perceived loss of control.

Changing social patterns includes the fact that more women are working and in increasingly senior roles. This leads to a shift in how household roles and childcare are allocated between parents. This means that there is an opportunity to help consumers maintain control over their home lives.

On a more micro level, the personal information that is being collected from consumers whenever they use a credit card, visit a Web site or telephone a call center leads to a degree of uncertainty about how that information will be used by the company. Consumers will look for confirmation about what is collected, how it is stored and how it is likely to be used. They want to retain control of their own personal data.

Continue reading...

Sending an email or a series of emails to your opt-in list is one of the best marketing tools you have at your finger tips. It’s without a doubt one of the quickest ways to earn income online – often lots of it!

In fact, email is so successful, when used properly and ethically, there’s nothing more powerful than using email to market your product or service.

I can tell you from personal, first-hand experience, email is the driving force behind communicating over the Internet. The deliverability of your email is of paramount importance.

Allow me to share something that may seem shocking…

All major ISPs implement a form of content filters and personal response systems that has resulted in creating a “brick-wall” effect on any sizable amount of incoming email from a single source.

Email has become a complex creature with today’s filtering programs. All the major ISPs now require perfect SPF, DNS, and Domain Keys installed before email is receivable. You see, filters only block YOU from seeing it. The email  still gets delivered, but is classified as a soft bounce.

Continue reading...

People ask me “What is a niche?” A niche is a particular specialty in which a business or person finds they prosper. Niche strategy in marketing is to market to a small but lucrative portion of the market. The small size of the niche generally ensures efficient marketing efforts and few if any direct competitors.

Continue reading...