July 2010 Quotes of the month Dan Kennedy is what I would consider a Marketing Genius. His unusual take on Small Business Marketing is helping some small business become very successful - despite the current economy. If you have not yet heard of him, then I am delighted to this month introduce you to Dan Kennedy and to include a few of ‘Dan’s Gems’ “If you don’t know what your time is worth, then you can’t expect the world to know either”. (on understanding what you need to earn each hour to meet your business goals) __________________________ “If you can’t make money without money, then you probably can’t make money with money, either” __________________________ “Every successful achievement begins with a decision. Most unsuccessful lives are conspicuously absent of decisions” __________________________ And if you are looking for a great book to help with your business education, I would strongly recommend Dans new book “No B.S. Business Success for the New Economy” It’s available on Amazon. It’s Brilliant.
SHOW ME THE MONEY!
By Tasha Hungerford
Do the work, bill the work & collect the money – sounds simple doesn’t it, but sometimes it justdoesn’t happen as easy as this! For a variety of different reasons people
will always come up with a good reason why they can’t pay YOUR account. To help overcome this here are 5 keys to prompt payment: 1.
Be upfront! Explain your debtor policy and then stick to it! This is vital to your business if you don’t have a documented policy or proce dure then you are setting yourself up for failure. 2. Bill regularly & as soon as a job is completed 3. If possible personally give the bill to your client 4. Provide payment alternatives – (see our website for details of flycke) 5. Follow up ALL debts regularly & systematically Of course none of this is rocket science but let this financial year be the one where you follow all steps & you will reap the benefits! Tasha Hungerford is a partner at Keating & Associates & is a degree & CPA Qualified accountant. If you are a business owner & would like to have an initial free interview with an accountant who has a more interesting personality then a door handle please call her today on 07-54489600!
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Inside this month: Free is the new business model A real business offers more than one product Google’s secret tool How to blow the roof off your sales Back to Basics: Guarantees
FREE is the new business model
A real business oﬀers more than one product
Yes it sure would cost a lot of money for a restaurant to give away a thousand free lunches in a week. Maybe four or five thousand dollars but if that free lunch is really, really good and hundreds of those people convert to regular customers I can assure you that the customer acquisition cost is much lower with that method than through most other advertising approaches. Any business could steal this idea. Darn few ever will.
Most business will tell you that their biggest problem is attracting New Business and yet in most businesses, their current Customers are often their biggest untapped resource. Getting clients to know and trust you to make the initial purchase is the hard part. It is easier to ‘bump’ up an existing customer to another product or service than it is to attract a New one. If your business only offers one product and you don’t have a system in place for ‘bumping’ up your customers to purchase more products or services, or more expensive options from you then you don’t have a Real business.
Now, Let me tell you about a supermarket that stole this idea. For their new location in a new neighbourhood they gave away 5,000 litres of milk, 5,000 packs of butter, 5,000 cans of peaches and 5,000 packages of napkins. How could any business afford to do this? This supermarket printed up 5,000 coupon books, each with four coupons – one for the free quart of milk in week number one, one for the free butter in week number two, etc. No purchase was required to redeem the coupons. No strings attached. That’s courage. They mailed these coupon books to 5,000 selected families near the store’s location. Over 3,000 coupons were redeemed the first week. Nearly 4,000 by the fourth week. Almost every person also bought groceries while they were there. The fifth week with no coupons and also no newspaper advertising, no radio advertising, no TV advertising, no billboard advertising, over 4,000 people shopped in that supermarket spending a total of more than a half million dollars that week.
You are missing out on a huge opportunity to generate profits in your business. If you want a viable, profitable business, this is what you should know: • • • • •
Don’t focus on selling just one primary, front end product. The profit is in the Backend products you offer. It is exponentially easier to sell to someone who has already made the decision to purchase from you. The biggest profits can be made from Repeat Buyers (this is often the most neglected target market in a business) Give your Customers more products or services to buy and they will spend more. Offer a range of complementary products / services with a clear p price p progression i.e. g bronze, silver, gold package.
Did you know? The easiest way to increase leads to your business is through a Google Places listing that appears in Google Maps? Handylocals can assist you create and manage your Google Maps listing to achieve great results. Email us today to find out how and guess what?! it’s FREE!!
Make use of Google’s secret tool! Not really a secret, or is it?…but, you probably never heard of Google’s Wonder Wheel. Its a pretty cool tool that has advantages for those of us looking for a better collection of keywords to optimize our websites. Let’s Give It a Test Go to Google and enter a search term. In this example, I’ll use “scuba diving”. Type the phrase in the appropriate field. You’ll find 22 million results returned. On the left side of the page you’ll see where you can click things like: Maps, Images, News, Blogs, etc. Below that you’ll see “Any time”, then “All Results”. Below “All Results”, click on “More Search Tools”. Then click on “Wonder Wheel”. You will see links that show what terms are being searched that are most closely associated to “scuba diving”.
How This Helps Small Business Marketers If you are investing your time in online searches you know the value of Search Engine Optimization These are the keywords and phrases used to promote your site to search engines. When you select a key phrase like “scuba diving” your site can get lost in the maze of other sites that have also chosen that key phrase. By using Google’s Wonder Wheel you can begin to expand your keyword and phrase list to appeal to a more niche oriented, and motivated group of prospects. Is essence Google has delivered impressive free marketing research to you that can allow you to fine-tune your marketing strategy. Take this clue from Google and use it to your advantage. This is a tool that almost NO ONE uses.
How to blow the roof oﬀ your sales without spending another cent on advertising Would you like to sell more of your products and services, grow your business and make more money without doing any extra work? I'm about to tell you exactly how you can do this using a very powerful, but under-utilized marketing tool. It's called a testimonial. Of all the businesses in the world today, only 2% this strategy. The secret behind the power of testimonials is simple - what others say about your products and services is more important to prospects and customers than what you say about your products and services. General Mills has figured this out. They are now putting testimonials on the back of their Cheerios boxes. If you're not using testimonials in your marketing, you need to start. You should include them in every piece of advertising you do. Simply create a form (or use the template we gave you in your Welcome Pack) to send to your past customers, and to give to your current customers. Handylocals is the perfect tool to build your database of testimonials. It gives your Customers an easy, non-invasive way to give you that testimonial (plus showcasing them to Prospective Customers 24/7) And, when you've got a lot of testimonials you can have them all put into a promotional booklet which can be handed to prospects or mailed to them. Imagine getting an offer in the mail where there were so many wonderful things people had to say about it that their testimonials had to be printed in a booklet because there were too many to print in the sales letter!
Back to Basics Each month we’ll provide you with a quick overview of the basics of one element of marketing or business management. This month -
Guarantees are a Cost effective & immediate way to increase your Sales. Let me give you an example, Read these guarantees and think which would have more of an impact on you as a buyer: 1. If you’re not happy with your WidgetWear Jeans, we’ll give you a full refund” 2. If, at any time in the next 12 months, you don’t think that these are the smartest, sexiest and most fantastic jeans you have ever worn ... if people don’t stop you in the street and ask for your number ... if your friends don’t start calling more often ... just send them back and we’ll refund every cent of your money. No hard feelings and No questions asked. Spot the difference? The first guarantee is just ‘there’ – it’s better than not having a guarantee at all, but it’s too easy to gloss over. It’s just like ‘10% off’. No-one pays attention anymore. The second guarantee is impossible to miss. It’s over the top and fun. It instils promise, emotion and drama into an otherwise everyday guarantee.
The Guarantee Myth “But what if everyone makes a claim under my new Guarantee?” Many small businesses don’t use strong guarantees in their marketing because they think that too many of their customers will take advantage of it. Studies repeatedly prove this to be wrong. It is said that it is typically fewer than 2% of customers will ever take advantage of a guarantee. You probably will see an increase in refunds or returns, BUT it will be tiny compared to the increase in sales.
“Cost Effective Marketing Strategies to help you Dominate your Target Market in today’s Economy”.
Super Strong, Innovative guarantees can make a Real Difference to your Business. What’s yours?
Q&A Tweet this! A common question that comes up about Twitter is “What Should I Tweet about?”. Here is a simple model to follow:
H/O Innovation Centre 90 Sippy Downs Dr Sippy Down QLD, 4556 handylocals.com.au handylocals.com.au/blog Handylocals Sunshine Coast PH: 07- 5450 2758 Info@handylocals.com.au Handylocals Gold Coast PH: 07-5531 2043 email@example.com
There are only three types of Tweets: 1. A broadcast tweet – where you share info about your business/life. 2. An engagement tweet – when you respond to something someone else said on twitter. 3. An ‘Interesting Stuff’ Tweet – you post something that has no direct relevance to what you are doing, but you feel will be interesting to your followers i.e quotes etc. The first rule is to be Interesting. Places like www.stufftotweet.com or www.alltop.com are two great resources to find interesting, original stuff to tweet about. Another easy way to find information to tweet, is to follow people you find interesting and then ‘Retweet’ their content regularly. Easy!