31. March 2010 by Frank Goley, Business Consultant for ABC Business Consulting.

While Business Planning may be a difficult task, especially to do it well, it doesn’t mean that you shouldn’t do it. Its benefits far outweigh its challenges. However, if you have a good Business Planning Process, then the difficulty of the planning task is mitigated and often minimized.

Business Planning is the Hard Part…

If the Business Planning Process is Comprehensive and well executed, then the Planning Process itself will often be much harder than the actual running of the business.  Wouldn’t you like to get the hard part of running the Business out of the way upfront?  Wouldn’t you want to ensure the absolute best chance to succeed with your business?  Wouldn’t you want to be highly profitable verses marginally profitable?  Of course you would.  But to do so takes a lot of hard work, making the intangible (i.e. an idea, a new project, a new business venture), tangible. 

Borrowing from the success of others in creating and expanding successful companies, can really give you a leg up in the difficult Process of converting the unknown into an executable, successful venture.  This is why I wrote a Business Plan Workbook as it takes a lot of that guesswork out of the Business Planning Process, giving you years of experience in not just building successful plans but actually implementing those plans into successful companies.  A good business plan workbook simplifies the complicated Business Planning and Building Process into simple, doable steps which build on one another into the building blocks of a successful business.

Knowledge and Know-How…

Good Business Planning comes from lots of hands on experience. Overcome that experience factor by utilizing a proven Business Planning Process.

Define the Unknown…

Without an effective business plan in place, you are just throwing darts at a board with your eyes closed.  A good Business Planning Process defines the unknown into an executable plan.  Otherwise, you are simply guessing.  Business is hard enough- take the mystery out of it.  It is exceedingly hard to define the unknown without a system in place to work toward known opportunities, threats, competitors, market changes, market variables, business models and so on.  An effective Planning Process embraces the unknown and creates the future- a future of probable success.

Inexactitude is a guarantee in Business…

Not everything can be predicted.  However, by having a system in place to deal with this inexactness allows you to more effectively address challenges that come up.  Inexactitude costs your business money.  An effective Business Plan puts systems in place within your Company to quickly deal with the unexpected occurrences, minimizing your “learning curve” expenditures.  Additionally, a Business Plan can test the merit of a Strategic Tactic or Program to deal with a potential problem before implementation, again, minimizing your learning curve resource allocation.  A good business plan process or business plan workbook will help you effectively deal with the unpredictability of a business and the inexactness inherent in business development.

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29. March 2010 by Frank Goley, Business Consultant for ABC Business Consulting.

Once you have developed, integrated and implemented your Comprehensive Business Plan for the success of your business into your Company’s Operations, you can go about creating ancillary Business Plans for various audiences.  Remember to write these specialized plans from the viewpoint of the person(s) reading the plan.  It is a snap to pull out certain sections of your Comprehensive Plan and create these targeted plans.  Some examples: 

1)     Investor Plan:  Investors and Venture Capital Groups often advertise what they are looking for in an investment.  This should be the template for your plan.  They are interested in your Experience, Track Record, Integrity, Competitive Advantage, Growth, Uniqueness, Gaps and Threats, Integrated Marketing, Strategic and Financial Plans and so on.  A good Investor Plan consists of highly targeted information to a specific investor’s or venture capitalist’s requirements. 

2)     Lender Plan:  This Plan is combined with a Loan Package to directly target a specific Lender’s funding parameters and requirements.  Things like Experience, Track Record, Cash Flow, Loan to Value or Cost, Debt Service, Debt to Equity Ratio, Financial Statements and so forth are key elements of a Lender Plan.  Each Lender has different things they look for when considering funding a loan so tailor your Plan around those parameters. 

3)     Joint Venture / Strategic Alliance Plan:  Achieving a common objective through shared resources at a lower cost and lower risk can be highly lucrative, limiting your dependence on outside funding sources.  Important sections of this plan could address Objectives, Anti-Trust Issues, Resources, Geographic Variables, Corporate Culture Fit, Type of Relationship, Control Mechanisms, Exit Strategies, Termination, Liquidation, Buy-Sell Agreements and so on.  

4)     Supplier Plan:  Cementing your supplier relationships can be essential to your Company’s success.  Ask yourself:  What can a specific supplier do to help your business? 

5)     Customer Plan:  You can utilize this Plan to make your customers true partners in the growth and future of your Company.  Find out specifically what your customers want and need (not what you think they need) and present them a Product/Service, Marketing and Strategic Plan to meet those needs. 

6)     Marketing Plan:  A good Marketing Plan will help your Marketing Team develop, expand and create new markets.  A very effective tool to link your Sales Division with your Marketing Team so development and communications are two way and intertwined.  Disjointed Marketing and Sales Teams are often disastrous.   

7)     Strategic Plan:  This plan forces all your departments and divisions to work together to produce a synergistic plan that addresses all levels of your Company and their contributions to the Company’s goals and success.  The Strategic Plan actually translates your Business Plan into an effective and believable Financial Plan. 

Remember:  You write a specific plan for a specific purpose to a specific audience.  This list is not all inclusive.  The point is to develop your Comprehensive Plan first; then forming ancillary Plans is a snap and very effective.

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25. March 2010 by Frank Goley, Business Consultant for ABC Business Consulting.

A Business Plan is the most important and often overlooked part of running or starting a business, expanding an existing business or obtaining finance for a business.  If a Business Plan is developed effectively, the success rate for the purpose of the plan rises exponentially, whether it is to start, expand or run a business, and / or obtain finance for the business. 

A well developed Business Plan leaves less room for errors and failure.  While you cannot predict everything that happens in a company’s future, a good Business Plan helps you to avoid certain pitfalls, overcome obstacles and anticipate and create business opportunities.  When you do encounter obstacles and problems, having a Business Plan in place, integrated into the business, provides you with a system and mechanism to effectively deal with challenges, often turning these challenges into manageable situations or even future opportunities.

Let’s start with the fundamental questions:  Why have a Business Plan?  What can a Business Plan do for my company? 

First, a Business Plan helps you run a Business and is the roadmap to business success.  This is the primary reason for a Business Plan, and the plan should be initially written from this standpoint.  However, there are many other beneficial reasons for developing and implementing a business plan.  A Business Plan forces the various departments in your company to work together to implement a synergistic Strategic Plan.  A well developed plan helps your Sales Team close more deals and provides them effective tools to use in the field with your customers.  A Business Plan helps your customers understand the direction your Company is taking, encouraging them to become “partners” in your business’ success.  Your Business Plan can help you solidify relationships with necessary suppliers, helping them to more effectively understand how to contribute to your Company’s growth.  A Business Plan can also effectively assist in obtaining the necessary finance to start or grow your Company.

Business Plan Uses

There are different Business Plan formats and purposes for various circumstances and situations.  It is recommended to first develop a Comprehensive Business Plan to effectively and successfully run your Business, Venture or Projects.  Once the Comprehensive Business Plan is completed, you can take certain parts of the Plan to form other Business Plans for various purposes and situations, such as a Funding Business Plan for a Bank or Venture Capital Firm.  A good Business Plan Workbook will take you step by step in developing a Comprehensive Business Plan, which you will be able to “adjust” for various purposes and uses beyond the effective management of your company.

Internal Uses of a Business Plan

1)     Identifying the strengths and weaknesses of a company’s operation and potential problem areas.     

2)     Improved company performance results from developing and implementing Strategies which simultaneously builds on a Company’s strengths and correcting its weaknesses. 

3)     Communicate effectively to Management and Employees clear expectations of a Company’s performance and priorities to ensure a coordinated execution of a Company’s Strategic Plan. 

4)     An Effective, Comprehensive Business Plan coordinates and assures consistency between a Company’s various divisions and departments to bring about the successful operation of the Company’s various units. 

5)     A Business Plan provides a mechanism to measure a firm’s and individual’s performance.  It establishes a clear standard for determining whether actual performance is good, bad or neutral. 

6)     A Business Plan establishes a system for making key decisions in the Management process of a Company.  As new developments, opportunities and difficulties arise, the Business Plan provides a solid structure to evaluate the impact of developments and opportunities on the operations and performance of the Company as a whole and in its individual departments and units.   

7)     A Business Plan’s development process will educate and motivate a Company’s employees. Management, Executives and Key People learn more about a Company’s Operation and the direct relationship of their areas of responsibility toward the achievement of a Company’s goals. This is achieved through analyzing variables like past performance or the impact of trends and developments, while developing Action Plans for the future success of the Company.  The process solidifies your people’s commitment and motivation toward achieving the Company’s Strategic Plan.

External Uses of a Business Plan

1)     A Business Plan can update and educate outside parties (i.e. investors, shareholders, suppliers, customers, regulators, legislators, etc.) regarding the structure, organization, objectives, goals and performance of your Company. 

2)     A Business Plan can secure finance and investment to fund your Company. 

3)     A well executed Business Plan can preempt your competition, making barriers to entry apparent. 

4)     Solidify your customer relationships making them true partners in your Company’s products and service offerings, innovation, research and development, and most importantly, your growth.  

5)     A Business Plan provides your important suppliers insight into your Company so they can help you manage costs and promote growth.  A slight change in a supplier’s offering or terms can have a dramatic effect on your Company’s profitability. 

6)     A Business Plan is a sales tool, assisting your Sales Team to promote understanding throughout your customer base of your Company’s direction, competitiveness and uniqueness.  An integrated Business Plan enables your Marketing Team and Sales Team to open new markets and opportunities and close more deals. 

7)     The Plan demonstrates to third parties your Company’s core accountability, beliefs and integrity.

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22. March 2010 by Frank Goley, Business Consultant for ABC Business Consulting.

This is the final blog post in a 6 part series on Cost Effective Small Business Marketing Strategies. In the previous blog post, I discussed Marketing Tactics and Key Elements. In this post, I will discuss Important Marketing Plan Elements and Successful Marketing Attitudes.

Pulling it All Together:  Important Marketing Plan Elements

My article on Writing a Winning Marketing Plan provides you a successful structure to work with toward achieving a well balanced plan.  In this section I will discuss the important concepts and elements of a successful Marketing Plan.

Ø  Develop a Good Meme:  A meme is a simple way to communicate a main idea or theme or benefit of your business.  It is an instantly recognizable transmission of what a company is all about.  It is more than a Logo.  A Meme is representation of the Company Identity (i.e. Logo) and its Key Benefit or Advantage.  It can be a Symbol or Words.  Something that not only helps brand a Company’s Identity but helps the audience translate it instantly into the Company’s Chief Benefit or Advantage.  Memes are highly effective when used on Websites, Company letterhead, the back of a Biz Card, brochures, circulars – in other words, it needs to be in all Your Marketing materials. 

Ø  Theme:  You need a good Theme to go with a Meme, such as “ABC Biz Success Solutions”.  I use “Biz Success” the main theme for ABC Business Consulting because ultimately that is why clients hire us.  I use this theme in other areas of the business as well, such as:  “ABC Biz Success Guide” or “ABC Biz Success Articles”.  Both the Meme and Theme working together effectively identify and brand your business.  They help you standout in a mass of competitors.  Memes and Themes are only effective when they are used prolifically.

Note:  Another reason we chose “ABC” Business Consulting as the company name is the company will be listed close to first in alphabetical listings and directories.  Choose your Company Name carefully – think it through.  It should say what you do as a business and be easily remembered.  We also chose this name as it would be a good domain name for the website to effectively compete in one of the most competitive keyword areas.  Think your Company Name, Domain Name, Meme and Theme through carefully – it can be your most effective marketing element!

Ø  Branding:  An accepted Brand Name = Credibility.  It builds confidence and word of mouth sales.  Credibility and confidence set you apart from the competitive pack.  A good Company Name, Theme and Meme are essential components of successful Branding.  Branding builds familiarity through repetition.  A Brand most importantly builds customer trust.  It keeps the customer and prospect thinking about your company; consistent and constant awareness of the business and what you stand for.  Consistent Marketing creates and sustains a Brand, especially if done through many layers and platforms of media. 

Ø  Positioning:  This is the goal of every Marketing Plan, finding that Niche.  To come up with your Niche, you need a good Market Plan Process.  As part of that process, you will analyze your strengths, weaknesses, the competition and the different Market Trends.  The goal is to differentiate yourself enough so your offering is unique to a niche market with little competition.  Your Market Positioning is the process of differentiating yourself through location, price, quality, product offering, services, selection, convenience, promotion and a host of other market positioning (differentiation) factors. Can you achieve a Niche that has little or no competition?  Probably not but you sure can differentiate yourself.  See how important Positioning is?  All of your Marketing Materials & Promotions should highlight your differentiation.  Give your target niche a reason to see you differently compared to the competition.  Your Market Positioning is the major key in your Company’s success.  By success, I mean high profit margins.  Differentiation = Profits.

Note:  Before putting a Marketing Plan into Action, it needs to go through the Strategic Planning Process to determine what risks are associated with the Marketing Plan and if those risks have been adequately minimized through the Positioning Strategy.  Strategic Analysis helps you determine if your Marketing Plan can effectively compete in its Positioning Strategy, as well as, the other components of a Marketing Plan.  Moreover, a Strategic Plan maps out the Marketing Plan and puts it into Action with Milestones and checkpoints along the way.  Please see my Article on Strategic Planning for more information on developing a successful Strategic & Sales Plan.

Ø  Quality:  I have talked a lot about Quality in this article.  Remember, after Confidence, Quality is the second most reason a prospect considers a particular business.  Quality is what the Customer gets out of the product or service experience with your Company.  Quality is what will separate you from your competition; it will enhance your viral, word-of-mouth advertising; and it helps define your positioning niche.  Quality and service really work hand in hand – it’s the quality of service which keeps customers coming back and prospects interested.  Your Marketing should reflect this!  Fast service, Cheap Prices and a Wide Selection will not matter, nor make up for, Poor Quality.

Ø  Location:  Depending on the type of business you have, Location can be a must and be well advertised and marketed.  Physical location is becoming less important with the reliance of the internet.  Either way, whether you have a location dependent business or not, it is important to have a strong presence on the Web.  All your Marketing Materials and Programs should be built around a Web Strategy, and prospects should be able to easily find your business through the internet.  Your website should further instill confidence in the prospect to visit your business. 

Ø  Referrals:  Ask for them before, during and after the sale, as well as, bi-annually thereafter.  Referrals are your best prospects and are exponential in numbers when a Referral System is effectively merged with your Marketing Strategy.  Have a Referral Program throughout your company so your Employees will be incentivized to provide them.

Ø  Testimonials:  One Word, Powerful!  Your Marketing Materials should include testimonials with a picture if possible.  Your website should have video and audio testimonials.  Testimonials will close sales for you.  Use them!

Ø  Credibility:  This should come across all your Marketing Materials.  The reason a prospect buys is because a bond of trust has been built, and credibility goes a long way toward building that trust.  So what makes you credible?  Publicity, Articles, Newsletters, Testimonials, Referrals, Magazine Ads.  Quality, good Service and Consistency go a long way too!  Word of mouth or viral advertising builds bukoo Credibility as well.  Being involved in your Community is an excellent means of building a solid, credible reputation.  The biggest one?  Honesty.  Be honest with your customers and your credibility (and sales) will soar!

ü  Reputation:  Very closely linked to Credibility.  A good reputation comes over time through consistent credibility.  One bad experience can increase twenty fold or more so be sure to have a good Customer Service Program in place to support your reputation building Marketing Plan.  You earn a good reputation by doing the right things over a long period of time.  A good reputation instills Confidence in the prospect – the number one reason a prospect turns into a customer.  Doing everything right earns you a good reputation.  Not that you have to be perfect – mistakes will always happen.  It is what you do after a mistake happens that really determines your reputation.  The nice thing about Reputation is it doesn’t cost you a dime – just Effort!  Effort which needs to be built company wide, from the Company President down through all the employees. 

Ø  Payment Plans:  Payment Plans should be built into your Marketing Strategy as it removes risk, adds credibility and builds confidence.  Use it and advertise it!

Ø  Understanding your Competitors:  This is a really crucial component of a Good Marketing Strategy.  Knowing what your Competitors offer; who they target; what their customer experience is like; and how they operate are really important in segmenting Your Niche.  Learn what they are doing right and differentiate yourself on where they are failing or lacking.  Marketing Segmentation cannot be well established without knowing your Competitors.  The end result of good Competitive Analysis is establishing Competitive Advantage and carving out a Market Niche through that advantage.  Your profitability hinges on how well you know your Competitors.

Ø  Be a Green Company:  Being an environmentally friendly company can buy you earth conscious customers and support a great cause at the same time.  Customers will pay nearly 40% more to patronize an environment friendly company.  However, it is important to practice what you preach – don’t support a cause if you aren’t 100% sold or committed to it. 

Successful Marketing Attitudes

Marketing is the transposition of an attitude which you hope customers want to jump on and join.  Some successful attitude elements to include in your Marketing efforts: 

ü  Passion:  Passion and belief in yourself, your business and your products attracts customers.  It should be reflected in all your Marketing materials.

ü  Give it Away:  Be generous with your knowledge by giving prospects free information and expert advice.  It will come back to you threefold in publicity and referrals.

ü  Be Fast:  We are a highly competitive, instantaneous society.  You better be fast in responding to prospects and customers alike because your competitors sure will be!

ü  Clean Company Image:  Keep your company looking good; have an updated website and run a Professional, orderly organization.  Attract instead of detract!

ü  Telephone Skills:  You and your employees should be happy to hear from prospects and customers.  Be friendly, happy and engaged.  They should feel important.  

ü  Value Keys: 

§  Value is more important than Price.

§  Enhance your perceived value.  It is the value that your customer thinks he or she is getting.

§  Offset a prospect’s anticipated price with your value offering:  i.e. benefits, quality, presentation, reputation, experience, credibility, the green factor, etc.

ü  Be in Tune with your Customers:  Be engaged and sensitive to your customer’s needs as they change over time.  Listen to your customers!  They are telling you what your Marketing Strategy should be moving toward.  Be proactive and fix issues before they become major.  Be easy to conduct business with.

ü  Be Flexible:  Work with your customers and the changing trends.  Meet your customers more than halfway.  Understand that flexibility relates directly to Service, Quality, Price, Value, Selection, Payment Plans, and Location – all those important Marketing components.  Be flexible to your customers’ needs.

And Finally, Understand that Marketing is Psychology

Understand some customers are Logical and other Emotional.  Based on their psychology, you tailor your presentation and communications.  Make it easy for a prospect to unconsciously buy into your offering.  Some like images, a painted picture.  Others like numbers and proof.  Some like a little of both.  I like to sell positive benefits that make a prospect feel good, no matter if he or she is left or right brain dominate.  Remember, passion and belief sells – fill your prospects with confidence.  The confident unconscious state sells the conscious mind way before the sale occurs.  You master this psychological transference in your Marketing and Sales Program, you will be profitable.  Bone up on your Psychology skills!

I hope this six part series on Cost Effective Small Business Marketing Strategies has been helpful and will lead to your continued success in your business pursuits…

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19. March 2010 by Frank Goley, Business Consultant for ABC Business Consulting.

In my last blog post on Cost Effective Marketing Strategies for small businesses I discussed how you can use Mass Media on a small budget very effectively. In this Part 5 blog post I will concentrate on Marketing Tactics, Customer Based Marketing and Important Marketing Elements.

Great Marketing Tactics

Ø  Free Consultations:  Provide a free half hour or hour long consultation to prospects giving them advice and information.  Follow up in two days and ask for the sale.  This tactic establishes you as an expert and even if the prospect doesn’t use your services, you will have a fantastic referral source (make sure you ask for referrals!).

ü  Power your Consultation with visual aids and demonstrations.

ü  Turn your Free Consults into testimonials.

Ø  Writing Articles:  Being published as an Expert will bring you targeted, continuous business.  Be sure to submit your articles online and back link to your Website.  Your web traffic will increase exponentially.  Then offer Free E-books on your Website to solidify the relationship.  When prospects understand your expert status, they will give you business, as well as, refer you to others.

Ø  Seminars:  Depending on your business having a FREE or Paid Seminar can be a great way to mine prospects.  Again, this strategy works well as the Expert strategy and piggybacks well with Free Consultations, Articles and E-books.  Free Seminars can be unpredictable, but a nominal fee Seminar can be enough to guarantee success.  A nominal fee ensures the attendee will show, while providing a ton of value for the information provided.  Be sure to video all your seminars and sell them on your website.

ü  Lecture / instruct for half an hour to forty five minutes, then open it up for questions.  Wrap up the seminar at the hour mark.  Have an area with coffee and sweets set up so you can network before and after the seminar.

ü  The goal is to get as many business cards and contact information as you can from the prospects.  Follow with a mailed hand written note or a personal email within 24 hours.  Then call the prospect a day later.  Have the Seminar on a Tuesday and follow up Thursday or Friday via phone to set appointments for the next two weeks.

ü  Have two Seminars a month.  Make them a little different so you can attract the same prospects again!  Give your previous attendees a VIP Pass.  If you don’t sell them the first round you’ll have a much better chance after the second seminar.

ü  Write a Book and your Seminar attendance will increase three fold.  The more you can foster the Expert Status, the better your results will be.

Ø  Free Demonstrations:  I love Free Demonstrations!  I cut my teeth in Sales in my youth selling Electrolux Cleaning Systems (ok, so they were vacuums and dry cleaners).  Selling a premium product which had a ton of value built in required a Free Demonstration.  If I couldn’t sell the prospect in 45 minutes then I would leave the Cleaning System with them for two days and return at a prearranged time to pick it up.  With a good financing package backing me up, I closed 8 out of 10!

ü  A Free Demonstration can also be short in front of a crowd and take orders afterward.  Depends on the product you are selling.

Note:  At Seminars and Mass Demonstrations, make sure you have plenty order takers and appointment setters on hand.  You can’t be signing up prospects and talking to them at the same time! 

Ø  Open House Events:  Opening up your business to existing customers and prospects for a day every three months is an awesome way to solidify relationships and drum up more business.  Have refreshments and employees staged in different areas explaining how the business works.  You, the owner, mix and mingle and mine!  Make sure each employee is schooled prior, to get business cards and contact information.  Be sure to teach the employee to make notes on the prospects’ biz card or contact info so you have personalized means of future contact.  Make sure you have a demonstration room for the serious prospects!  Make sure you are fully staffed fro an Open House.  All hands on deck event!

ü  Send Press Releases to local / regional publications and look for creative ways to advertise your Open House.  There are loads of Free Online and Offline Event Directories.  Use Social Networking!

ü  Social Online Networks such as Linked In, Facebook and Twitter can be excellent forums to getting out information about your Open House or other Company Events and News.  See my Article on Internet Marketing for more details.

Ø  Trade Shows:  I am not a huge fan of Trade Shows because many shows will have absolutely no merit for the money and time you spend.  However, many businesses have been successful with Trade Shows because they figure out through research which ones really have qualified buyers and know little success secrets.  Some Trade Show Keys to keep in mind:

ü  Always attend and research a show prior to your participation.

ü  Determine ways shows let you contact prospects before and after the show.

ü  Partner with a good Strategic Partner and share a large 20 foot booth together.  This attracts attention and offers prospects the best solutions.

ü  Have “roamers” walking the show continuously handing out circulars and flyers, which pictorially show prospects where your booth is.  Offer a Freebee or discount for the prospect to come to your booth.  Require the prospect to register to receive the Freebee or Discount.

ü  Have Brochures available at your booth for the motivated prospects.

ü  Be sure to mine each prospect’s information and product / service interests.  Don’t rely on them to contact you after the show. 

ü  Visually demonstrate your product or service.  Let prospects see the final solution. 

ü  Have plenty of staff on hand to sell, take information and greet prospects.

ü  Big Signs, Big Graphics, Large Font, Video, Audio – these are all key in helping the prospect visualize / own your solution.

ü  Take lots of pictures and video so you can post to the web during the show to create a viral buzz.

ü  Always get a prospects email address so you can send them an Opt In for your Newsletter, Company Alerts, RSS, etc.

ü  Make sure all of your Staff is instructed to take notes on the prospects’ business card so you can jog your memory on the prospects’ relevance and importance.

ü  Direct Mail response rates to Tradeshow Participants can be as high as 20%, as compared to the average 2% response rate for a first mailing.

ü  Trade Shows can be a good way to kick off your penetration into a new market.

ü  If you are going to the expense of going to a Trade Show, be sure to run some advertising prior (with an incentive to come see you).

Ø  Newsletters:  I think Newsletters (both offline and online) are an excellent information and sales tool.  This goes hand in hand with the Expert Role, providing interested prospects valuable information, while having information on how to contact you or a web page to visit.  Newsletters should be sent once per month with an expert article as the main focus.  I like to have the article in the center of the Newsletter with a narrow column to either side with supporting information and resources.  These side columns are great areas to partner with other businesses to offer more expert information and help.  Be sure to feature your FREE half hour or hour consultation service on the Newsletter and any seminars, webinars or such coming up.  The more you get into and use your Newsletter, the more exponential the results.  And, please, write your own content!  You are the Expert!

Ø  Write a Book:  I’m not saying get in the book business.  A book sets you apart as a bonafide Expert and gives you instant credibility.  It is one of the best sales generator tools you can use!  Two books that I have written, The Business Success Guide and The Comprehensive Business Plan Workbook – A Guide to Effective Business Planning, lend instant credibility to my experience as a Business Planner and Consultant.  You can use Print on Demand Publishing to print books and drop ship to customers as they are ordered individually for a price of $10 - $14 per book.  Get writing!

Ø  Speaking at Club Events:  Being a featured speaker at a private club event can drive great business for you.  Make sure to have a brochure and make sure to feature an easy to remember website address.  Feature a special promotion for just the club attendees.  Again, being a Club Speaker sets you up as the Expert and a fantastic way to advertise your articles, newsletters and books.

Your Best Marketing Source = Your Customer

Having excellent relationships with your Customers is the absolute best way to get a steady flow of qualified prospects.  Moreover, it gives you the opportunity for repeat, highly profitable business.  Ask for referrals before, during and after a sale to build an excellent pipeline of business.

Ø  A Mentor Group

ü  Select a group of 4 – 6 business people you respect and have a mentorship meeting with them once per quarter.  They will not only help you with the direction and success of your company, but also they will be an excellent source of highly qualified referrals.  This type of referral gives you instant credibility.

Ø  Networking Clubs

ü  Join one that doesn’t have too many competitors and can send you your “ideal” client. You can spend all day needlessly and unproductively going to networking events.  Choose a couple and go consistently.  Bring valuable information and advice with you!

Ø  Who is Your Best Customer?

ü  Simple Answer:  Your Customers!  Understand that a satisfied customer is your best repeat customer, as well as, referral source.  One satisfied customer can exponentially bring you increased sales.  60-79% of your Marketing Budget, or Emphasis, should be directed toward your existing customers.  I said “or emphasis” since marketing to an existing customer can be quite cost effective.  It costs 80% less to keep an existing customer as it is to land a new customer.  Remember two things:  Repeat Sales and Referrals.  Between the two, your marketing plan is 70% covered, which minimizes the necessary cash out lay for the remaining 30% of your Marketing Budget.

Online Marketing

I absolutely love Online Marketing, and it should be a major component of any Marketing Plan.  A good, well optimized Website is also necessary.  Please see my Articles on these areas for more details:

Ø  Cost Effective Online Marketing Strategies

Ø  Search Engine Optimization Strategies

Some Essential Marketing Elements

Not all Marketing is about running an Ad Campaign or sending out a newsletter; rather, good marketing is also about running an effective business and doing things to strengthen your Marketing Plan.  These elements will help you successfully pull together a cohesive, effective Marketing Plan.

Ø  Service:  Service should always be #1.  Service is not what you offer the customer but really more what the customer wants and wishes for.  If you define your Service Policy around what your Customers’’ want, then your Marketing success will be exponential!  Listen closely to what your customers want and provide the services to fill the gaps.

Ø  Why do Customers patronize a business?  The five top reasons are:

ü  Confidence

ü  Quality

ü  Service

ü  Selection

ü  Price

Address all five elements in a Cohesive Marketing Plan, you will be successful.  Remember that each builds on the other in the indicated order, so Price becomes less of a high or low question, and more of how it relates to the preceding four elements.  You can also put Referrals on top of the list, as that instills Confidence and an expectation of Quality.  Referral Business is the best business.

Ø  Public Relations

Cost you little or nothing but can brand your business very effectively, giving you a well known Identity in your Market place.  Free PR stories, articles and news clips can be extremely effective in establishing your Identity.  You Marketing Programs will be much more effective when you have a well established Brand and Identity.  Good publicity gives you credibility, stature and authority.  However, bad publicity can quite harmful so it is very important to honestly and forth rightly address any bad publicity or dissatisfied customers.  When submitting company news to the media, always send a story that is worth publicizing.  Give them a reason to give you free publicity.

Put together a good Press Kit (hire a PR Pro if needed) and take the media person to lunch.  Relate your Company story and hand over the Press Kit.  You are 80% of the way there!  Cultivate your media relations so get great broad exposure when you submit your news.  Always give the media an angle – a reason to run your story.  Become a Media Resource by giving your media contacts important information about industry changes or consumer tips or free business advice.  It will come back to you three fold!

Remember, PR is all about creating a Buzz.  Word of mouth, viral marketing can be extremely successful for your business if it is positive publicity.  Social Networking (covered in my Online Marketing Strategy article) can be a powerful way to spread publicity about a business.  Remember to have a system and forum in place to address any bad publicity because viral marketing can really accentuate the negatives, very quickly! 

Ø  Follow Up:  Most businesses lose customers and momentum when they stop following up and being in contact with Customers.  Marketing really begins after the sale;  Marketing is a continuous cycle.  Stay in front of customers with handwritten notes, newsletters, email tips, phone calls, specials, discounts and most importantly, asking them for referrals.  Provide your customers news about your business as it occurs to keep them connected to you.  Form and keep that bond – it is the future of your Company!

Ø  Word of Mouth: Word of Mouth advertising can be very effective if you figure out where else your clients conduct business.  Then partner with those businesses to effectively self-promote and spread the word.  It is a win-win for both companies as you are more effectively satisfying your customers’ needs.

Ø  Competitive Edge: All the Marketing in the world will be ineffective if you don’t have an Edge or Advantage to offer your prospects compared to the Competition.  Remember, it isn’t solely about price.  It is matching benefits, advantages, service quality and value with a fair price that helps you beat out the competition.  Your Marketing should stress your Competitive Advantages – don’t wait to express them during your sales presentation.  Competitive Edge should be the center point of any Marketing Plan.

Ø  20-30 Seconds: This is normally how long you have to interest a prospect.  So it is vitally important to be able to clearly communicate your offering and advantage very quickly and succinctly whether it is through a Marketing piece or when in person with a prospect.  The first 10-15 seconds is critical.  This is when you peek enough interest to listen to why doing business with you is a must.  Always keep the presentation (whether through Marketing or in person) personal to the prospect and personal to you.  There should be a common sales presentation theme throughout all your Marketing Programs, Advertising Pieces, Personal Contacts, Telephone Calls, Emails – any and all contact with prospects.

Ø  Guarantee / Warranty: Both are see through, hollow promises unless you have something credible and real backing them up.  This says to your prospects that you believe 100% in your product and service.  Don’t use it unless it is genuine!  Show what your customer satisfaction will be or look like, make it real to the prospect.

Ø  Branding: Develop your Brand through strong Identity Marketing.  Good branding can only be achieved with consistent, widespread Marketing through a cross section of related advertising mediums.  Commonality of Marketing Themes throughout all your Marketing Platforms goes a long way toward establishing your business identity and brand.  With that platform in place, use Viral Social Networking to spread your brand globally. 

In the next blog, I will discuss Essential Marketing Plan Elements and Successful Marketing Attitudes.

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