Attract Clients During A Recession
Have your phones stopped ringing yet? The economy is lagging and dragging. We've felt the effects in the United States. Now we're seeing global implications. So, how do you tackle economic uncertainty? Cut advertising, travel, training, marketing, and discretionary expense line items? Cut purchasing? Ouch! The pipeline starts to dry up and the anxiety level goes through the roof.
Many people think that since there's nothing they can do, they should just do nothing. But "nothing" is futile thinking.
What If You Could Reach Your Market Without Incurring Any Hard Costs?
The only budget you need to worry about is simply your time. Your time to ask for referrals! You know about referrals. When a qualified prospect is referred the chances of that prospect becoming a client is between 70 and 90 percent. Additionally, we are pre-sold. Selling time decreases. Credibility increases. And, we ace out the competition.
Results are the only thing that matters. And, now you will be able to achieve results simply by implementing the following 8 "Killer" strategies.
8 "Killer Steps" to Attracting New Business in a Lagging Economy
1. Broaden Your Perspective - What business are you in? Redefine and reinvent yourself. Determine how you can create a leap in demand for your products and services. Build new alliances and consider alternate distribution channels. Don't go solo. It's important to assemble a group of advisors and get their input and creative ideas. Include people who have differing points of view from you. Not easy, but critical.
2. Be Nimble and Innovative -You'll never have all the facts. Make quick decisions. Be fearless and make tough choices. Create new uses for your products. Why not a new business model?
3. Dazzle Your Current Customers - Your current customers need care and feeding. Don't ignore them at the expense of new business, because they are your best source for new business.
4. Prioritize Wisely - The most important activity for any salesperson is to do what's "closest to cash" the first thing every single day-whether it's following up with a prospect, writing a proposal, or closing a deal.
5. Become an Expert Company - hire experts because they can't afford to make mistakes. Position your company as the expert with a specific product or in a specific market niche. Become an expert and people will be more likely to refer you.
6. Stay Connected - If you want to get more referrals you have to network like crazy. Attend a minimum of one event a week. You never know who you will meet and what you will learn. Never let your network go down. Networking is an essential referral marketing activity. So go make connections and build your business. Talk to people and find out how you can help them. How is their business doing? Are they impacted by the lagging economy? How? Don't email, call. You make connections by talking to people and by spending the time to have a robust conversation.
7. Don't Cut Prices, Increase Value - There's a lot of chatter about cutting prices in a lagging economy. Many small business owners think businesses are cutting back, so prospects don't have money for their projects. But, by cutting prices, you're cutting your profits even further. Instead, consider how to "get in and get started." Divide your offering into smaller chunks, get results, and create traction. Or, give more value. When you offer high-value products and services, people will refer you and you will get more sales, even in a recession economy.
8. Commit to Building Your Referral Business - Referrals are always terrific, but they mean even more in a lagging economy. Don't let the lagging economy trickle down on you. Take charge and make your phone ring again! Let your prospects know how much you care about them. Tell and show just how much you appreciate their business. Inform them that you'd like to help people just like them. And, don't forget to thank your prospects and clients for their referral.
Follow these tips and you will get more referrals. You will attract new business. You will get more clients. You will accelerate your sales. And, you will achieve higher results without increasing your cost of sales. In fact, there's a great chance that you will decrease your costs!
Strategies That Can Amplify Your Press Coverage
Kreative Group, Inc. uses these straightforward strategies to amplify press coverage:
- Photos and graphics. A good or interesting photograph (or video) can win you significantly more editorial space and you can bet most people will look at the picture before the read the text.
- Offer a briefing or interview. Talk to the writer as she is writing the story. You can suggest interesting angles and provide information she did not get elsewhere.
- Leverage your advertising dollars into editorial coverage — Yes it can be done, but your agency need to approach this in the right way.
Recycling PR wins
When you win a good piece of publicity, you can amplify your success using the following tactics:
- A press release. If you won an award or some other kind of significant endorsement, put out your own press release to announce it. You don't necessarily have to put this release on a costly news wire. You can post it as an advisory on your web site and send it to your organization's mail list.
- Go local. If a prominent national publication or broadcaster carries a story on you, send a short release about it to your local newspapers, trade publications and chamber of commerce newsletters. "Local boy does good" stories are quite popular.
- Add to the story. Write a letter to the editor of the publication that just printed the story and elaborate on a few of the points that were made in the article.
- Post it on your web site. Prominently quote the bits of the article that you like and provide a link to the actual article (most print publications, and even broadcasters, have the same stories online).
- Distribute reprints and copies. Most publications (incl. broadcast media) offer a reprint service (for a fee). You can include reprints with your sales collateral and distribute them by mail, at events and speaking engagements. If you sell through a channel make sure the sales team of your channel partners also get copies. Laminated copies can be used as "shelf talkers" in retail outlets.Don't forget to include your press wins in your email newsletter. You can highlight a good quote and if appropriate, include a link.
- Merchandising. If you won a significant endorsement (e.g. an award) you could let potential customers know by using the award icon on product packaging, price lists, employee t-shirts, etc.
Business Referrals: Great Marketing Start
Referrals can be as important as any other customers. When people refer someone to you, there is a possibility that you can turn those referrals into customers straight away. Referral is seen as the back bone of marketing. Of course to get the referral system going smoothly for your business is rather difficult but not impossible. All you need is a network of people you can trust and try to get them to refer new customers to you.
Before you can request for referrals, there are a few things you need to keep in mind. First of all, make sure that your business is a reputable business, not some crappy company promising everything and delivers nothing. When you can deliver results as promised to your customers, then you can request for referrals. This is because to get someone to refer people to your business requires them to try out your services beforehand. Therefore quality is most important when you deliver your services.
Secondly, make sure that you have some incentive for the referrer. You don't expect them to refer people to you for nothing do you? There is no free lunch in this world, but that doesn't mean you have to pay them cash for every person they refer to you. What you can do is offer them gift vouchers, discounts whenever they use your services and maybe other freebies you can think of as a way of gratitude. This is a way of saying "thank you" for referring those people who have become your customers along the way.
When you request for referrals, be sure to request in a polite way or friendly way. Do not sound as if you are pressuring them into finding people to refer to you. Some people doesn't like to be a referrer but if you can keep their interest high, they might do it for you. Remember to keep a stack of business cards whenever you go so you can hand them to your potential referrer.
Having high quality referrals would be the best thing for your business. This is because you can expect more than half of the referrals to be your customers in the long run. Keep in touch with every one of them is definitely helpful too as networking is a need for marketing. You need to have audience for your marketing so start networking with people around you and those referrals.
Before you can request for referrals, there are a few things you need to keep in mind. First of all, make sure that your business is a reputable business, not some crappy company promising everything and delivers nothing. When you can deliver results as promised to your customers, then you can request for referrals. This is because to get someone to refer people to your business requires them to try out your services beforehand. Therefore quality is most important when you deliver your services.
Secondly, make sure that you have some incentive for the referrer. You don't expect them to refer people to you for nothing do you? There is no free lunch in this world, but that doesn't mean you have to pay them cash for every person they refer to you. What you can do is offer them gift vouchers, discounts whenever they use your services and maybe other freebies you can think of as a way of gratitude. This is a way of saying "thank you" for referring those people who have become your customers along the way.
When you request for referrals, be sure to request in a polite way or friendly way. Do not sound as if you are pressuring them into finding people to refer to you. Some people doesn't like to be a referrer but if you can keep their interest high, they might do it for you. Remember to keep a stack of business cards whenever you go so you can hand them to your potential referrer.
Having high quality referrals would be the best thing for your business. This is because you can expect more than half of the referrals to be your customers in the long run. Keep in touch with every one of them is definitely helpful too as networking is a need for marketing. You need to have audience for your marketing so start networking with people around you and those referrals.
Low Cost Marketing Strategies
by: Elyshia Carr
Small businesses must be extra imaginative with their marketing efforts in order to attract customers and get them to open their wallets. Even more challenging is that most entrepreneurs have shallow pockets and shoppers are being more selective as a result of the sluggish economy and volatile stock market. The following are six proven low-cost marketing ideas that help small businesses increase sales and generate referrals, ultimately helping you build your cash cow, while spending very little.
Take A Walk
Next time you walk down a street with high foot-traffic, pay attention to storefront windows underutilized. Approach the store owner and offer to pay a small fee to advertise your business in their window. Imagine, you pay $50 per month for a location that costs someone else $2500 a month in rent. This idea also works in reverse. If you’re the store owner with great window visibility, approach other entrepreneurs and offer them an affordable advertising opportunity.
Special Deal Today Only
The next time business is slow, try sending out an email to your prospect list that reads, "Please call me. I have a special deal I can offer you if you call me today. You'll be glad you did! (978) 000-0000. Thanks, Sharron." This method really works. Prospects call because of the urgency you create using such a short deadline and to make sure they don’t miss out on a worthy opportunity. Be careful. You’ll lose credibility with your prospects if your offer isn’t aggressive enough, i.e., 10% off won’t cut it!
Right Under Your Nose
Are your vendors doing business with you? Why not? Here’s a short list of the prospects you should contact within 48 hours of reading this article, your: accountant, attorney, plumber, electrician, daycare provider, housekeeper, greens keeper, mechanic, realtor, friends, family, minister/priest/rabbi, etc., dentist, physician, gynecologist, nail technician, hairdresser, Mary Kay Consultant, marriage counselor, coach, personal trainer, financial advisor, etc. If you and your vendor are not a match, he or she probably knows someone who should be doing business with you. All you have to do is ask your vendor to provide some word-of-mouth about you. At minimum, ask to display your business cards and flyers at their office, or to mention your business in their customer newsletter. Take a moment and make sure people in your immediate circle understand what you’re selling.
Customers on the Fence
Before you send off your next proposal, call your prospect and tell her the proposal she requested is ready. Tell her you'd like to forward the proposal, but before you do, ask her what time tomorrow would be convenient to discuss the proposal. Remember, always set up your next appointment before releasing any information.
Charge at Least Five Bucks
Always charge a fee for all your event marketing efforts. Fee-paid seminars and workshops almost always generate more participants than free events. The fee does two things. First, when you charge for something, there’s an implied "value" built in. Your prospect will believe they "get more" when they pay, versus not paying. Second, when a prospect pays you, they’re showing a commitment and are now a more qualified prospect and more likely to show up. Don’t just take my word for it; test it. It’s true.
Stimulate Customer Senses
Do you think the smell of fresh baking bread flowing throughout the grocery store or music playing is by chance? Absolutely not. Retail businesses have been going out of their way for years to stimulate shoppers and keep them browsing. Stimulating the senses works outside of bricks and mortars too. For example, let’s say you're a business development expert and you're getting ready to mail your quarterly newsletter on white stock. Instead, try a red or pink-hued paper. Or, if you’d prefer to remain conservative, use a white textured stock. Another example: There's nothing worse than the smell of a disinfectant used in a doctor's office. Try burning vanilla candles in the waiting room, they’ll help sooth your customers while they wait. If your business is notorious for long waiting room times, fresh baked cookies work well.
Remember, the more comfortable we keep our customers, the longer they’ll stay, the more memorable experience they’ll have and the more they’ll spend, or pass on positive word-of-mouth. When you’re planning your next marketing activity, remember to stimulate your customers’ senses, including eyes, ears, nose and mouth.
Kreative Group, Inc.
www.TheKreativeGroup.com
info@thekreativegroup.com
704.966.6016
Small businesses must be extra imaginative with their marketing efforts in order to attract customers and get them to open their wallets. Even more challenging is that most entrepreneurs have shallow pockets and shoppers are being more selective as a result of the sluggish economy and volatile stock market. The following are six proven low-cost marketing ideas that help small businesses increase sales and generate referrals, ultimately helping you build your cash cow, while spending very little.
Take A Walk
Next time you walk down a street with high foot-traffic, pay attention to storefront windows underutilized. Approach the store owner and offer to pay a small fee to advertise your business in their window. Imagine, you pay $50 per month for a location that costs someone else $2500 a month in rent. This idea also works in reverse. If you’re the store owner with great window visibility, approach other entrepreneurs and offer them an affordable advertising opportunity.
Special Deal Today Only
The next time business is slow, try sending out an email to your prospect list that reads, "Please call me. I have a special deal I can offer you if you call me today. You'll be glad you did! (978) 000-0000. Thanks, Sharron." This method really works. Prospects call because of the urgency you create using such a short deadline and to make sure they don’t miss out on a worthy opportunity. Be careful. You’ll lose credibility with your prospects if your offer isn’t aggressive enough, i.e., 10% off won’t cut it!
Right Under Your Nose
Are your vendors doing business with you? Why not? Here’s a short list of the prospects you should contact within 48 hours of reading this article, your: accountant, attorney, plumber, electrician, daycare provider, housekeeper, greens keeper, mechanic, realtor, friends, family, minister/priest/rabbi, etc., dentist, physician, gynecologist, nail technician, hairdresser, Mary Kay Consultant, marriage counselor, coach, personal trainer, financial advisor, etc. If you and your vendor are not a match, he or she probably knows someone who should be doing business with you. All you have to do is ask your vendor to provide some word-of-mouth about you. At minimum, ask to display your business cards and flyers at their office, or to mention your business in their customer newsletter. Take a moment and make sure people in your immediate circle understand what you’re selling.
Customers on the Fence
Before you send off your next proposal, call your prospect and tell her the proposal she requested is ready. Tell her you'd like to forward the proposal, but before you do, ask her what time tomorrow would be convenient to discuss the proposal. Remember, always set up your next appointment before releasing any information.
Charge at Least Five Bucks
Always charge a fee for all your event marketing efforts. Fee-paid seminars and workshops almost always generate more participants than free events. The fee does two things. First, when you charge for something, there’s an implied "value" built in. Your prospect will believe they "get more" when they pay, versus not paying. Second, when a prospect pays you, they’re showing a commitment and are now a more qualified prospect and more likely to show up. Don’t just take my word for it; test it. It’s true.
Stimulate Customer Senses
Do you think the smell of fresh baking bread flowing throughout the grocery store or music playing is by chance? Absolutely not. Retail businesses have been going out of their way for years to stimulate shoppers and keep them browsing. Stimulating the senses works outside of bricks and mortars too. For example, let’s say you're a business development expert and you're getting ready to mail your quarterly newsletter on white stock. Instead, try a red or pink-hued paper. Or, if you’d prefer to remain conservative, use a white textured stock. Another example: There's nothing worse than the smell of a disinfectant used in a doctor's office. Try burning vanilla candles in the waiting room, they’ll help sooth your customers while they wait. If your business is notorious for long waiting room times, fresh baked cookies work well.
Remember, the more comfortable we keep our customers, the longer they’ll stay, the more memorable experience they’ll have and the more they’ll spend, or pass on positive word-of-mouth. When you’re planning your next marketing activity, remember to stimulate your customers’ senses, including eyes, ears, nose and mouth.
Kreative Group, Inc.
www.TheKreativeGroup.com
info@thekreativegroup.com
704.966.6016
When Is Marketing Needed?
The answer to that question is “all the time”.
I often notice that many small business owners treat marketing like something that can be turned on and off. I see this happen especially when the economy is soft. The key indicator is that I get unbelievably busy because businesses decide they probably should market to try and find new customers.
The good news is these businesses seek out help, looking for someone to guide them in their efforts so they achieve success. But for every one business that calls me or another marketing expert, there are many that try what I’ve called the “Chinese Menu” approach to marketing - trying to mix and match disparent marketing activities - and their business will get busy again. Some call it the “binge marketing” approach. In either case, all you get is a bad case of heartburn and not many additional clients.
Unfortunately, that belief is the demise of many small businesses.
Effective small business marketing is not an activity to be done only when things get quiet, but should be constantly and consistently happening in your business. Marketing needs to be a continuous activity whose activities feed off each other, ensuring your business stays top of mind to your current customers and new prospects.
In addition, stopping and starting marketing interrupts the process. Marketing takes time to take effect and when you shut something down, it is really hard to kick it back up. Plus stopping and starting marketing doesn’t give you enough data to know whether something is working or not. The key is to put a marketing effort in motion and let it run, evaluating the outcome and tweaking the tactics when need be. Starting and stopping marketing activities is guaranteed to give you less than stellar results.
I often notice that many small business owners treat marketing like something that can be turned on and off. I see this happen especially when the economy is soft. The key indicator is that I get unbelievably busy because businesses decide they probably should market to try and find new customers.
The good news is these businesses seek out help, looking for someone to guide them in their efforts so they achieve success. But for every one business that calls me or another marketing expert, there are many that try what I’ve called the “Chinese Menu” approach to marketing - trying to mix and match disparent marketing activities - and their business will get busy again. Some call it the “binge marketing” approach. In either case, all you get is a bad case of heartburn and not many additional clients.
Unfortunately, that belief is the demise of many small businesses.
Effective small business marketing is not an activity to be done only when things get quiet, but should be constantly and consistently happening in your business. Marketing needs to be a continuous activity whose activities feed off each other, ensuring your business stays top of mind to your current customers and new prospects.
In addition, stopping and starting marketing interrupts the process. Marketing takes time to take effect and when you shut something down, it is really hard to kick it back up. Plus stopping and starting marketing doesn’t give you enough data to know whether something is working or not. The key is to put a marketing effort in motion and let it run, evaluating the outcome and tweaking the tactics when need be. Starting and stopping marketing activities is guaranteed to give you less than stellar results.
Benefits of continuous marketing:
1. You build awareness and brand differentiation for your business by being visible to your prospects and clients;
2. You establish a solid reputation for your business by marketing your expertise through articles and blogging;
3. You distinguish your business from the “competition” by staying visible and promoting your expertise;
4. You can evaluate your marketing efforts by the results you are seeing in your business. If they work, keep doing them; if they don’t work try something else.
Marketing takes a little time each week, ensuring your business stays visible to your clients. Plan to network, blog, write an article, update your profiles on LInkedIn and Facebook, contribute to a Twitter conversation, add some additional Internet marketing activities, be active in social networks and ask a client for a reference or testimonial. All of these take a few minutes to a couple hours but the payoff can be substantial.
Business Goal Management
Business Goal Management
There is a strong relationship between a successful company and an effective goal setting process. By setting goals, specifically SMART goals, busienss owners can engage their workforce and encourage employees across the company to focus and successfully achieve these goals together.
Strong goal alignment and goal visibility allows for quicker execution of company strategy by enabling management to allocate proper resources across various projects. Managers can focus their staff on the company’s most important goals and reduce task redundancy throughout their team while employees will have a greater understanding of how their efforts will serve the business goals.
Goal management also lets you establish a true pay-for-performance culture by communicating the company goals to employees, therefore providing the groundwork for linking reward systems with individual and / or team performance. Find out how you can put goal alignment to work at your organization with our assistance in business goal setting.
Email us and receive our "Business Goal Setting White Paper"
info@thekreativegroup.com
www.TheKreativeGroup.com
There is a strong relationship between a successful company and an effective goal setting process. By setting goals, specifically SMART goals, busienss owners can engage their workforce and encourage employees across the company to focus and successfully achieve these goals together.
Strong goal alignment and goal visibility allows for quicker execution of company strategy by enabling management to allocate proper resources across various projects. Managers can focus their staff on the company’s most important goals and reduce task redundancy throughout their team while employees will have a greater understanding of how their efforts will serve the business goals.
Goal management also lets you establish a true pay-for-performance culture by communicating the company goals to employees, therefore providing the groundwork for linking reward systems with individual and / or team performance. Find out how you can put goal alignment to work at your organization with our assistance in business goal setting.
Email us and receive our "Business Goal Setting White Paper"
info@thekreativegroup.com
www.TheKreativeGroup.com
Designing Successful Sales Processes
One of the keys to designing any successful business process is to carefully delineate what people can control and what they cannot. In selling, this is usually overlooked to the frustration of all. Yet, identifying these factors is critical to helping people learn how to sell effectively and to elevating the performance of the team.
One excellent way to do this is to work on clarifying people’s qualifying criteria. These criteria should be worked out in great detail, ideally in the form of questions salespeople can score on a five-point Likert scale. The idea is that each salesperson understands the ranges of observable facts in a variety of areas such as:
1. How do we know there is an opportunity?
2. What is the pain/value to the customer?
3. What is the value to us?
4. Can we win the business?
Completing these Likert scale questions helps salespeople (and their managers) focus on the facts rather than on what they or their boss wants the truth to be.
We have found in our work with clients that the effort to develop those qualification criteria systematically and to use them in every deal offers dramatic payback. It provides a more precise language for understanding their opportunities and account situations.
This enables salespeople to discern what they can and cannot control and to improve their chances of winning a deal by designing their strategies around what they can control.
Further, it standardizes the way the organization prioritizes its pursuit of opportunities, elevating thepredictability of the whole system. Furthermore, it becomes possible for deal quality scores to be used as feedback for the effectiveness of lead generation campaigns.
Finally, the data this type of approach provides can be priceless. This technique enables your company to avoid the blunt instrument approach, and instead elevates your sales team’s ability to perceive and adapt to facts in the customers’ environment. There are many other ways to improve the design of your sales process, but defining and clarifying your terms and qualifying criteria should be the cornerstone.
One excellent way to do this is to work on clarifying people’s qualifying criteria. These criteria should be worked out in great detail, ideally in the form of questions salespeople can score on a five-point Likert scale. The idea is that each salesperson understands the ranges of observable facts in a variety of areas such as:
1. How do we know there is an opportunity?
2. What is the pain/value to the customer?
3. What is the value to us?
4. Can we win the business?
Completing these Likert scale questions helps salespeople (and their managers) focus on the facts rather than on what they or their boss wants the truth to be.
We have found in our work with clients that the effort to develop those qualification criteria systematically and to use them in every deal offers dramatic payback. It provides a more precise language for understanding their opportunities and account situations.
This enables salespeople to discern what they can and cannot control and to improve their chances of winning a deal by designing their strategies around what they can control.
Further, it standardizes the way the organization prioritizes its pursuit of opportunities, elevating thepredictability of the whole system. Furthermore, it becomes possible for deal quality scores to be used as feedback for the effectiveness of lead generation campaigns.
Finally, the data this type of approach provides can be priceless. This technique enables your company to avoid the blunt instrument approach, and instead elevates your sales team’s ability to perceive and adapt to facts in the customers’ environment. There are many other ways to improve the design of your sales process, but defining and clarifying your terms and qualifying criteria should be the cornerstone.
Who Are Your Clients?
Have you defined your Business Model? What does your perfect client look like? What is the best way to reach them?
Your target audience needs to be so defined that you are not running after clients who don't need your product or services. I often hear clients say that they don't want to limit themselves, but everyone is not your customer. The truth is that having a target market doesn't limit your marketing, it aims it.
Why Target?
1. You get to know your client better and what they need.
2. It will cost you less in money and time.
3. Attraction Marketing - building your specific message to reach only your prospects.
4. Targeting allows you to position yourself in the marketplace.
Don't leave your target market open too broad because you will spread yourself to thin trying to reach everyone. Identify those prospects who you really care about and know that what you have to offer will benefit them. Also choose prospects who can afford your product or service.
All customers are not "one-size-fits-all."
Your target audience needs to be so defined that you are not running after clients who don't need your product or services. I often hear clients say that they don't want to limit themselves, but everyone is not your customer. The truth is that having a target market doesn't limit your marketing, it aims it.
Why Target?
1. You get to know your client better and what they need.
2. It will cost you less in money and time.
3. Attraction Marketing - building your specific message to reach only your prospects.
4. Targeting allows you to position yourself in the marketplace.
Don't leave your target market open too broad because you will spread yourself to thin trying to reach everyone. Identify those prospects who you really care about and know that what you have to offer will benefit them. Also choose prospects who can afford your product or service.
All customers are not "one-size-fits-all."
Does Your Marketing Bring Results?
Business owners spend so much time marketing without a strong strategic marketing plan and end up waisting their time and money because they are not familiar with who would do business with them.
Wouldn't you like to know that your marketing budget is working for you and increasing your MROI? Or would you like to continue to waste your money and don't get any results?
A Strong Marketing Action Plan is needed if your business is going to continue to grow.
Let's talk about how we can make that happen. Is there anyone having a hard time with their marketing campaign?
How can I help you grow?
Wouldn't you like to know that your marketing budget is working for you and increasing your MROI? Or would you like to continue to waste your money and don't get any results?
A Strong Marketing Action Plan is needed if your business is going to continue to grow.
Let's talk about how we can make that happen. Is there anyone having a hard time with their marketing campaign?
How can I help you grow?
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