Ask The Experts - Business tips and advice
Marketing Basics 101
Grow the bottom line with these practical tips
October 2006
Learn How To:
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Maximize your marketing & promotion resources
Market to your current customers
Market effectively using various media
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Dear Business Owner,
By now, you're in one of two categories.
Either you're new to the world of entrepreneurship
or you're looking for ways to raise
much-needed capital/revenues in order to remain
solvent.
In either case, this brief guide will give you some
wonderful ideas to make the register go 'ch-ching"!
They are brief, and to the point. I'll give you
resource information later to help you with more in-
depth planning.
Maximize your marketing & promotion resources
Your best resource is you!
Two key factors play a role in maximizing your most
precious resource.
* Be accessible:
These days, the small biz owner actually has an
advantage over the corporate C.E.O. The cellular
phone allows you to be in constant contact with
your clients, employees, partners, and more. All this
while having the freedom to actually perform, travel,
and multi-task. Plus, with free long distance &
roaming, you can cut down on charges that a regular
land-line would cost.
* Get a reliable cellular phone with FREE long
distance, FREE roaming, Mobile-to-Mobile, and great
reception
* Although I sell all cellular service providers
through my partner store, Lo Cell Cellular, I suggest a
plan from either Sprint, Nextel, or Verizon.
* Finally, for Pete's sake . . . Answer it at ALL
Times. (even when you're working another job) It
may be your next multi-million dollar contract on the
line.
* Have business cards:
This is an area where many owners fall
short. A
professional card has the same type of impact on an
individual as television commercials have on
thousands. There's no need to get carried away
with too many colors or glossy designs that distract
from your message. A simple card on the proper
cardstock with raised black lettering is perfect. To
add an extra touch, include your company
logo.
* 1,000 professional biz cards range from $40 -
$75 Get some and pass them out to everyone you
meet.
* Make sure all your employees and/or partners
have cards also. Since this is such a cost-effective
way of marketing, duplicating yourself with others will
return exponential results.
* Oh...don't be cheap. Remember, your card is
your "commercial." It is a direct reflection of your
business and image. Plain paper or printing them
yourself is out. Let professionals do what they are
expert at . . . making you look good.
Important: Be accountable. Simply
put, "Do everything
that you say you're going to do, when you say you're
going to do it." Forget this, and now you've
engaged in negative marketing. It all has an impact
on your bottom line.
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Market to your current customers
There may be "acres of diamonds" on your client roster already!
They're already spending money with you. You
should spend money (or time) with them. Here are
seven (7)
things you can do to "massage" more sales from
existing customers.
* Pay up! Inform clients that you have a referral
program that pays.
* Ask for the referral. Satisfied customers like to
tell other people about you.
* Give it away! No matter how rich a person is . . .
FREE STUFF is always appreciated.
* Create a customer rewards program with
incentives for clients to increase their line of
business.
* Stay in constant communication. This includes
phone, email, personal lunches, and other events.
Remember, competitors are communicating with your
clients too.
* Know your clients business and their changing
needs.
* Review & Update. Game plan to help clients
obtain long-term growth. This adds a "value-shield"
against competitors and transforms your business
relationship into a 'true' partnership.
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Market effectively using various media
What's your strategy? What's your budget?
Most business owners I talk to are very adept in their
trade, but not in letting others know about their
trade. #1 reason: No marketing strategy or budget.
This can mean the difference between owning a
business and owning a job.
Here are some various media types and hints on how
to use them . . .
* Internet/Website:
A fresh, professional
website is necessary in today's business world. Get
one . . . and don't be cheap. Your site is the biggest
credibility booster you have (other than yourself).
Usually, it's what prospects see before they see
you. If your business doesn't have a website, you'll
soon be out of business.
* Public Events:
Get out there and talk to people. Public events can
range from city or church social gatherings to
seminars and banquets. Investment to attend may
be from $0 to $1,000. However, plan wisely. The
main events you should focus your attention to are
the events where your most-likely clients are going
to be. (i.e.) If you own an exercise facility for
adults, then marketing at high school sporting events
may not be best for garnering immediate increase on
the bottom line. Be practical, be consistent, and be
in the know of where your contacts, prospects, and
partners are going to be.
* Electronic Media:
This is where proper budgeting is going to begin.
Electronic media includes radio, television, satellite
broadcast, and more. Again, be mindful of your
target demographic. (i.e) If you own a car
dealership, then it wouldn't be practical to advertise
on a channel or station whose primary audience is
teenagers. Why? They have no money! Not only
that . . . They're not of legal age to sign the
contract. I've seen this happen before. It can be a
huge waste of money if done hastily.
* Recommendation: I would not advise that you
engage in marketing through electronic media until
you
have become somewhat proficient at #1 and #2.
Also, you'll need to be sure to set up your
business in a way to accomodate all the new
business that comes from marketing to huge groups
of people.
* Print Media:
Print media encompasses the newspapers,
magazines, and more. In my experience (and
depending on your product or service) this is a great
media to use as a supplement to a well-planned
marketing campaign. Print media is "non-intrusive."
This means that whoever views your ad is going to
have to intentionally take the time to find it.
Billboards are another great supplement as well.
* Email Marketing:
Move over mail-order. Marketing to a solid email list
is the newest and most cost-effective way to
introduce products and services to you clients and
prospects. Sure, we're all aware of
those "businesses" that use spamming in order to get
the word out. However, I don't recommend that.
You should, over time, build an email base of persons
that "opt-in" to your database, meaning they would
like to get more information from you. Email
marketing, while returning huge dividends, is also
FREE. It doesn't cost you anything more than the
fee you already pay your internet service provider.
Once you begin to get more sophisticated, you'll see
that set-up fees are surprisingly low-cost and very
effective.
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Rhoden E. Baker III, a former radio personality, has
worked in the marketing field for over 10 years. He's
enjoyed success with many projects ranging from a
seven (7) year relationship with Clear Channel
Comminications, two (2) years with Tampa, Florida-
based Tama Broadcasting, Inc. along with continuous
promotion and marketing projects that have spanned the
course of eleven
(11) years.
Rhoden resides in Jacksonville, Florida
where he operates a number of business entities,
including consultation services and supplies for small
to mid-size businesses. For more information
on howto supply and begin an effective marketing campaign,
contact Rhoden . . .
* Web: http://www.myspace.com/rhodenbaker
* Cell: (904) 537-7470
* Fax: (866) 274-1709
* E-mail: rbaker@rhointernational.com
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