The Fundamental MUST DO’s of a Small Business Marketing Strategy

The ultimate small business marketing strategy is really no secret if you stick to the fundamentals. As a small business owner, you are constantly being barraged with what someone is telling you is the latest and greatest marketing strategy. Before you waste your time and money on something new, you really need to ask yourself if you are doing the basics well.

Take a moment and remove yourself from your business and think of your business as your athletic team. It’s the beginning of the season and you are psyched about the year ahead. What is the first thing that you are going to do to prepare for the year? Do you start by practicing trick plays? Of course not! You practice the fundamentals.

  • If you’re a baseball team, you practice hitting and fielding.
  • If you’re a football team, you practice blocking, tackling, throwing and running.
  • If you’re a soccer team, you practice kicking and passing.
  • You don’t start running plays until your team is in shape!

Okay, now that practice is over and you have showered and cleaned up, it’s time to get back to your small business marketing strateg!

7 Critical Small Business Marketing Strategy Fundamentals

Is your team (staff) in shape? Do they know the fundamentals? Do you have them practice and rehearse the right way to do serve your customers or do you let them wing it and hope they’ll such a great job that your clients will be magnetically drawn back to your business?

Guess what? If you leave it to chance and assume clients will return, you risk taking your business into the world of mediocre results where you will join the legions of small business owners who are wondering where there next customer is coming from. Don’t leave your success to chance and then grasp for the magic bullet that will save your business. A powerful small business marketing strategy begins with the fundamentals. Here are 7 critical steps to your business success:

  1. Critical Fundamental #1: You must have a Unique Selling Proposition, which answers the question “Why should I do business with you?” Your USP is much more than we give good service or do a good job. Your competitors are saying the same thing. Your USP should have the prospect saying “Oh really? Tell me more!” It helps get your prospect interested in buying from you. Give them a powerful reason to do so.
  2. Critical Fundamental #2: Your business must be living your USP. If you make the claim, play the game by making sure everyone in your company lives the USP. If you claim great customer service but you let your phone ring 10 times before anybody answers it, your are not living a USP founded on customer service. FedEx doesn’t claim packages will usually get there overnight, they get them there overnight. If you make your clients go through 5 phone prompts to place an order, you are failing on a service claim. If your delivery driver doesn’t thank your customer, your competition’s will.
  3. Critical Fundamental #3: You must know the fundamentals of selling. It usually costs a huge amount of money to get a prospect to come to or call your business. Once they are there, doesn’t it make sense that you should have the skills to sell to them and maximize the value of the transaction? You do so by cross-selling and up-selling. Don’t expect the customer to ask for more , you must help them along. Sales training is one of the best investments that you can make in your company. Everybody who comes into contact with a prospect or client should know the basics of selling.
  4. Critical Fundamental #4: This fundamental is one of the most critical and obvious but most overlooked element of a successful small business marketing strategy! You must have a system to capture client and prospect information such as name, address, phone number, email address, buying history, preferences and other information relative to your business. Today’s technology makes that very inexpensive to do. When you have this information, you can develop a close relationship with your clients based on what THEY like.
    1. Here is a real world example: My wife and I eat out at a nice restaurant at least once a week and we like to go to different places. There is only one restaurant in the Cincinnati region that has ever even asked for my name and address. They send us coupons regularly so we eat there regularly. All of the rest are wondering how to get new clients in the door and spend a lot on advertising to get them there. Now that doesn’t make a lot of sense, does it? Why don’t the others ask about me and what I like? It is real easy and inexpensive but most business owners are out of touch when it comes to knowing their clients.
  5. Critical Fundamental #5: You must have a system in place to regularly communicate with your prospects and clients. You should be frequently hitting them with unique offers, birthday cards, newsletters and special customer only specials. Your customers DO WANT TO HEAR FROM YOU!!! The research proves it. If you don’t talk to them, you are communicating an attitude of indifference towards clients and opening the door for your competition to take them away from you.
  6. Critical Fundamental #6: You must leverage your marketing efforts by establishing joint ventures and alliances with other companies who have similar client profiles in a non-competing business.
    1. Look at this scenario: You own a restaurant and have 1,000 clients who know and trust you and like your food and service. The florist down the street also has a 1,000 clients who know and trust her. You approach her with an idea. You will pay for amailing to her list in which she endorses your restaurant and offer a special coupon for a free appetizer to her clients. You mail a similar endorsement for her shop to your list. You will both get a huge infusion of new business. Now doesn’t that make more sense than running an ad on the radio or in the paper?
  7. Critical Fundamental #7: First of all, notice all the above fundamentals don’t ask you to risk money on media advertising and any one of them can easily increase your sales 20% or more. However, if you choose to advertise in the media, TRACK YOUR RESULTS! Don’t fall in the trap of building a brand or getting your name out there. If you are investing in something, know your return on your investment. If you put $5,000 dollars into an investment portfolio, you expect a minimum return and you closely track your results. Do the same thing when you invest in marketing.

You Must Get the Fundamentals in Place
Or You Are Losing Business!

As we discussed earlier, a good small business marketing strategy starts like a sports team does in preseason, by getting back to fundamentals. If you are following these small business marketing strategy fundamentals, you should congratulate yourself because you are one of the few who are getting repeat business, referrals and new customers for a fraction of what the average small business spends to attract a customer.

If you are not doing so, get started. It is a lot easier and less expensive than you think and your returns will be huge and you will literally reap exponential increases in sales.

Business Solutions in Online Survey Software

Whether you’re the VP of a large company or a small business owner, you want to know more information about your clients and your target market. Now that so many people are online the virtual plain of the Internets is one of the best places to contact your target market. To this effect, online survey software companies are a great business solution. They provide you with the ability to build surveys, send them out to mailing lists, and receive answers quickly and all in one software. Using this type of tool as a business solution, the sky is the limit!

Well, almost…. Not all online survey software companies will suit your specific needs. You’ll need to shop around. Online survey software companies all provide survey creators, data collection, and many similar features. How, then, are business people supposed to decide which tool suits their needs best? Survey creation is important because it affects what respondents experience during their survey and determines drop-out levels. It is important to keep in mind the contact management of the software: what features exist for publishing surveys? If you collect data then you most likely need to present the results and therefore the reporting capabilities of the software are also important. With all of these features available, we could choose any one of them to base our decision on. This choice depends on your and your business’ needs.

One way to make a decision, which may prove most effective for determining the utility of a software to your business, is to place more importance on the data analysis capabilities of the various software companies. To get meaningful results from your survey you need more than just numbers and percentages. You need advanced data analysis. Advanced data analysis includes using multi-level crosstabs to obtain brand feedback, for example. Another example could be conducting pricing analysis to measure the likelihood of purchase at a specific price point. To provide you with business solutions survey software has to go above and beyond simple survey creation and data collection. Advanced data analysis is imperative.

There is so much potential for survey software to provide real business solutions. It is important for you and your business to look for the features in each company that will best suit your needs. Here are some of the features that may provide potential solutions for your business:

Solutions for marketing:
Online survey software has the potential to help you to understand your current and future markets using analysis to identity clear action points that feed into marketing plans. Certain survey software companies have the potential to become meaningful market research tools for your company. By capturing customer feedback you can ensure that you minimize customer churn to build relationships and keep customers happy. You can also analyze survey data to speed up a new product development process and gather feedback from your target market on pricing, new product concepts and product features. By collecting feedback on advertising concepts, website design, packaging, logos, etcetera, you can improve current marketing campaigns and fine-tune future ones. For example, some software allows you to use multi-level cross-tabulations to obtain brand feedback from various populations; test advertising concepts using heat-map or video; and conduct pricing analysis with scale slider questions to measure the likelihood of purchase at a specific price point. This software even allows you to create multilingual surveys in order gather global feedback from your customers all over the world.

Solutions for sales:
Using online surveys you can capture valuable customer feedback to provide information to your Sales department about their current satisfaction and dissatisfaction levels as well as future requirements. Use this information to identify ‘at-risk’ customers, follow-up on leads to develop new business or upsell to customers who have unfulfilled requirements. Use trend analysis to measure changes in customer feedback over time. Using advanced analysis functions to identify clear action points that feed into sales strategy can optimize your business’ relationships with customers. You can evaluate the impact of advertising campaigns among your sales forces. Some companies make things a little easier by funneling survey data directly to your sales team with Salesforce integration. This way your Sales department is alerted to dissatisfied customers and provides the opportunity to build relationships before the customer dissatisfaction reaches critical levels.

Solutions for Human Resources:
They backbone of your business is the people who make it work: your employees. To optimize your business you need to make sure your team is fit, satisfied, and efficient. Survey software can provide innovative solutions to keeping your team satisfied and functioning at the top of their game. Using online surveys you can gather feedback from employees about corporate communication, benefits, salaries, satisfaction, training and development opportunities. With features such as ‘grouping’ you can develop 360-degree feedback from questionnaires, e-learning quizzes or even post-training tests. The feedback you receive will allow you to improve churn rates, improve internal communications, address areas of higher dissatisfaction, and develop appropriate training programs. The possibilities for gathering feedback are endless, but of course, once again, you have to use tools with advanced data analysis to deal with this data effectively.

Every business is looking for ways to improve their profits, satisfy their customers, and keep their employees happy. Online survey software is one way to provide your business with solutions and tools to achieve these objectives. It is important to look for attractive survey creators to optimize respondent experience and improve your chances of getting more responses. However, as I have emphasized in this article it is the data analysis components of the software that provide the most advantages and solutions for your business. There are several survey software companies that provide these types of data analysis tools. You need to shop around a find the tool that suits your specific needs. Engage in intelligent consumerism, go beyond the survey sending step, and demand more from your survey tools.

Choosing the Right Business Brokers

Whether you’re buying or selling a business, having a broker on your side can make the difference between a successful outcome and a nightmare. However, not all business brokers will be suitable for your specific situation. Use the tips below to choose the right broker for your needs.

Start by asking for referrals from your inner circle of business advisers and colleagues. Have any used a business broker in the past? Were they satisfied? Does the broker handle the type of transaction you have in mind?

You may need to widen your net to find a pool of qualified business brokers that specialize in brokering deals such as yours. Once you have several potential brokers, it’s time to get down to business and narrow the field down. Below are several key factors to consider:

– Is the individual or firm professional? Professionalism shows in numerous ways including personal appearance, the presentation of marketing materials, website, language, mannerisms, and expertise. Use both objectivity and your gut instinct. Remember, the broker you choose will be representing your business so make sure you’re fully comfortable with the person and firm you choose.

– Does the broker have experience working with businesses like yours? While it’s not necessary for the business broker to have specific experience in your exact niche, it’s helpful for the broker to understand the nature of your business and have experience brokering deals with similar characteristics. For example, if you run a family-owned microbrewery, a broker with a successful track record brokering deals for small wineries, family-owned specialty food manufacturers, or small brewpubs may not know the finer points of brewing beers but could be an excellent choice thanks to experience with similar businesses.

– What qualifications does the broker have? Look for licensing, education, certification, experience, and membership in professional associations.

– Is the broker well prepared? In other words, did the business broker do his or her research prior to your initial meeting? Brokers use comparable sales, business and industry reports, and other tools to price businesses. Your business broker should be able to support any suggested listing prices, which should be presented in writing, with documentation.

– If you are selling your business, find out how the broker intends to market your business. Brokers have many marketing tools available to market their business listings. However, some prefer to use specific marketing techniques over others. Make sure to ask the broker to present a detailed marketing plan.

– What type of businesses does the broker work with? For example, if your business has annual revenues in the $50 million range, you’ll need a special type of buyer making it important to choose a business broker capable of attracting those high net worth individuals and investors.

– Check references. No matter how professional, personable, experienced, qualified, and prepared potential broker appear, cover your bases by checking references. Ideally, the broker should give you references from businesses with similarities to yours.

Choosing the right broker to sell your business or help you find a business to buy is a process. Do your part to ensure a successful outcome by choosing wisely.

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