Did you know that more Americans use the Internet than read a newspaper every day? That’s bad news for publishers, but great news for business owners and managers looking for ways to reach customers. If you’re like most business operators when you think of the Internet, you visualize a website for your company—and plenty of them have been built at considerable cost and effort. But there are other ways to use the ever-evolving online medium that can be just as (if not more) effective—and costs a whole lot less.
One way to market in cyberspace is with a blog, a type of web presence that has many interesting possibilities. A blog can be nothing more than a simple collection of written entries about anything (or nothing) that’s posted on the web for the curious to read. There should also be a place for you to advertise and write about your company’s history and the things you do. You can also link to your shop’s conventional website. You might even be able to sell advertising on your blog to other local businesses as well as to your vendors. Blogs are cheap (often free!) and very, very easy to create. I got started at www.blogger.com (a service owned by Google) and just followed the easy online instructions.
Another approach is to sign up for Facebook or Twitter or one of the other rapidly proliferating social networks. While there are some major differences between blogging and marketing through social networks, many of the same principles apply. The main feature of both is a sort of message board where you make diary-like entries about topics of interest. The entries don’t have to be long or even particularly literate just as long as they’re about subjects you think your customers care about. The biggest added feature of a social network page is your ability to reach customers (and potential customers) who have signed up to “friend” you. With luck, they’ll keep their connection to you and see your messages every time they visit their own social site page.
But how do you use a blog to market your business? By making it the centerpiece of an online community of your customers and potential customers. What makes either one a “community” is your customers’ ability to post their own messages along with yours, either in response to the ones you’ve posted or about subjects that they’d like to discuss. In fact, it’s this interactive feature that sets a blog apart from a traditional website (although you can have similar features there, too). A blog or social network site also gives you opportunities to help the physical community as well, which most business owners consider good for business. A substantial side benefit is that your business enjoys some of the same “halo effect” that an event sponsor gets—at considerably less expense.
If putting your business into cyberspace has seemed like more trouble than it’s worth, maybe now is the time to reconsider your decision. A Facebook page or blog is cheap, easy, and can be a very effective marketing tool.
Dave Donelson distills the experiences of hundreds of entrepreneurs into practical advice for small business owners and managers in the Dynamic Manager's Guides, a series of how-to books about marketing and advertising, sales techniques, hiring, firing, and motivating personnel, financial management, and business strategy.
Monday, June 27, 2011
Tuesday, June 21, 2011
Selling In Cyberspace
Many business owners have considered how much - if any - time and money they should devote to marketing online. The Internet does offer many exciting business growth possibilities, however. The marketing possibilities are limited only by your imagination, your pocketbook, manpower, and patience.
Art and craft galleries, just one of the many types of businesses on the net, have been marketing online for many years. The website is essentially another complete business location--which happens to draw customers and artists from around the world who shop with their keyboard, mouse, and credit card. Artique Galleries' owner, Mike Stutland, put his Lexington, KY, galleries online in 1999 and says, “The web site has attracted customers from beyond our normal market area. It has brought people into our stores, especially through our links with many tourist information sites.” Those customers may well not have been reached otherwise and therefore represent new sales.
In order to compete for the attention of online customers, the former Chairman/CEO of Valentine Radford Advertising in Kansas City, Mo., Chuck Curtis, offers some tips based on the agency’s survey of 1000 online shoppers.
1. 89% of Internet shoppers use the Internet for product information. Make sure your web site is rich in product details.
2. 45% of Internet shoppers click on their local newspaper and 32% click on their local television station site. This is good news for businesses who can inexpensively buy advertising just on the local media’s web site.
3. Also buy advertising in the email news updates that local news media send out. About half of online shoppers have signed up for these.
4. 58% of these shoppers have signed up for an online loyalty program. It’s a smart idea to reward your best customers with a frequent buyer plan (like the frequent flier programs run by the airlines.) For example: Get a 10% discount on your next purchase when you spend $50.
5. More than a third of the survey (38%) use a wish list feature on the site for their purchases. These are items they would like to buy, but can’t purchase at the moment, and they register their desires online.
6. About two-thirds of the time a shopper will research a product online and then buy it in the store.
7. Many retailers will publish their coupons for in-store use online because the distribution costs are so much lower than putting them in the newspaper or on direct mail.
8. Between 40% and 60% of shoppers (depending upon the amount they spend) strongly object to shipping charges. Many retailers build the price of these into the products, or offer free shipping above a certain amount; e.g., “Free shipping when you spend $50 or more.”
9. 81% of shoppers expect to find a wider selection of products online. Remember that your market online is worldwide. If you find items that you can’t display in your store because of limited retail space, put them on your web site.
With these essential tips from the pros you can take your business to the next level when it comes to online marketing, business growth, and sales.
Dave Donelson distills the experiences of hundreds of entrepreneurs into practical advice for small business owners and managers in the Dynamic Manager's Guides, a series of how-to books about marketing and advertising, sales techniques, hiring, firing, and motivating personnel, financial management, and business strategy.
Art and craft galleries, just one of the many types of businesses on the net, have been marketing online for many years. The website is essentially another complete business location--which happens to draw customers and artists from around the world who shop with their keyboard, mouse, and credit card. Artique Galleries' owner, Mike Stutland, put his Lexington, KY, galleries online in 1999 and says, “The web site has attracted customers from beyond our normal market area. It has brought people into our stores, especially through our links with many tourist information sites.” Those customers may well not have been reached otherwise and therefore represent new sales.
In order to compete for the attention of online customers, the former Chairman/CEO of Valentine Radford Advertising in Kansas City, Mo., Chuck Curtis, offers some tips based on the agency’s survey of 1000 online shoppers.
1. 89% of Internet shoppers use the Internet for product information. Make sure your web site is rich in product details.
2. 45% of Internet shoppers click on their local newspaper and 32% click on their local television station site. This is good news for businesses who can inexpensively buy advertising just on the local media’s web site.
3. Also buy advertising in the email news updates that local news media send out. About half of online shoppers have signed up for these.
4. 58% of these shoppers have signed up for an online loyalty program. It’s a smart idea to reward your best customers with a frequent buyer plan (like the frequent flier programs run by the airlines.) For example: Get a 10% discount on your next purchase when you spend $50.
5. More than a third of the survey (38%) use a wish list feature on the site for their purchases. These are items they would like to buy, but can’t purchase at the moment, and they register their desires online.
6. About two-thirds of the time a shopper will research a product online and then buy it in the store.
7. Many retailers will publish their coupons for in-store use online because the distribution costs are so much lower than putting them in the newspaper or on direct mail.
8. Between 40% and 60% of shoppers (depending upon the amount they spend) strongly object to shipping charges. Many retailers build the price of these into the products, or offer free shipping above a certain amount; e.g., “Free shipping when you spend $50 or more.”
9. 81% of shoppers expect to find a wider selection of products online. Remember that your market online is worldwide. If you find items that you can’t display in your store because of limited retail space, put them on your web site.
With these essential tips from the pros you can take your business to the next level when it comes to online marketing, business growth, and sales.
Dave Donelson distills the experiences of hundreds of entrepreneurs into practical advice for small business owners and managers in the Dynamic Manager's Guides, a series of how-to books about marketing and advertising, sales techniques, hiring, firing, and motivating personnel, financial management, and business strategy.
Tuesday, June 14, 2011
Building Business Without Cutting Prices
Price-cutting competitors are like rust on a steel tool: as soon as you clean it off, it starts forming again. And, just like insidious oxidation, price-cutters can’t be ignored. If you don’t pay attention, they’ll erode your company’s business. One way to respond to price competition is to meet or beat it at the lowball game. Unfortunately, there always seems to be somebody willing to go even lower and your bottom line suffers as a result. Is there any way one can respond to this unrelenting competition? Two automotive shop owners have found alternative solutions.
One way is to diversify so that you can afford to pass up a job or two without worrying about its impact on your bottom line. Pete Bennett, owner of CoachCraft, Inc., in Lexington, Kentucky, provides as many automotive restyling services as he can think of in a successful effort to build revenue and fully use his shop’s capacity. “As long as we’re promoting quality and being fair about pricing, I don’t worry too much about our competitors,” Bennett says. Volume is important, but not at the expense of quality. According to Bennett, who believes better work supports higher prices. “The quality speaks for itself. “
Bennett not only tries to attract many different types of work, he also maintains a balance between retail customers and dealer subcontracts. He estimates that his business is split just about equally between the two. Retail jobs generate a higher profit margin, of course, but the dealer business provides volume to maintain capacity utilization. Because he has both, Bennett can afford to maintain his prices, even to dealers.
Lee Muntean, owner of AAA Convertible & Sun Roofs in Costa Mesa, California, has adopted exactly the opposite strategy for beating the competition. He targets a niche market and does one thing—but he does it very, very well. This approach provides a strong floor under his prices.
His pricing for dealers and general repair shops isn’t driven by a need to beat the competition, but there is another factor he takes into account: the dealer’s margin. When it comes to pricing work subcontracted to him by body shops and garages, he’s careful to allow them to make a profit without undercutting his retail price. “One thing I don’t want them to do is give the jobs away. That hurts me,” Muntean says. In the ideal situation, the garage’s customer would pay the same if he came directly to Muntean and vice versa.
Any business owner or manager will tell you there is always somebody willing to undercut your price. One way to respond is to make a knee-jerk price cut of your own. As these two successful business owners demonstrate, though, that’s not necessarily the only way to build your business.
Dave Donelson distills the experiences of hundreds of entrepreneurs into practical advice for small business owners and managers in the Dynamic Manager's Guides, a series of how-to books about marketing and advertising, sales techniques, hiring, firing, and motivating personnel, financial management, and business strategy.
One way is to diversify so that you can afford to pass up a job or two without worrying about its impact on your bottom line. Pete Bennett, owner of CoachCraft, Inc., in Lexington, Kentucky, provides as many automotive restyling services as he can think of in a successful effort to build revenue and fully use his shop’s capacity. “As long as we’re promoting quality and being fair about pricing, I don’t worry too much about our competitors,” Bennett says. Volume is important, but not at the expense of quality. According to Bennett, who believes better work supports higher prices. “The quality speaks for itself. “
Bennett not only tries to attract many different types of work, he also maintains a balance between retail customers and dealer subcontracts. He estimates that his business is split just about equally between the two. Retail jobs generate a higher profit margin, of course, but the dealer business provides volume to maintain capacity utilization. Because he has both, Bennett can afford to maintain his prices, even to dealers.
Lee Muntean, owner of AAA Convertible & Sun Roofs in Costa Mesa, California, has adopted exactly the opposite strategy for beating the competition. He targets a niche market and does one thing—but he does it very, very well. This approach provides a strong floor under his prices.
His pricing for dealers and general repair shops isn’t driven by a need to beat the competition, but there is another factor he takes into account: the dealer’s margin. When it comes to pricing work subcontracted to him by body shops and garages, he’s careful to allow them to make a profit without undercutting his retail price. “One thing I don’t want them to do is give the jobs away. That hurts me,” Muntean says. In the ideal situation, the garage’s customer would pay the same if he came directly to Muntean and vice versa.
Any business owner or manager will tell you there is always somebody willing to undercut your price. One way to respond is to make a knee-jerk price cut of your own. As these two successful business owners demonstrate, though, that’s not necessarily the only way to build your business.
Dave Donelson distills the experiences of hundreds of entrepreneurs into practical advice for small business owners and managers in the Dynamic Manager's Guides, a series of how-to books about marketing and advertising, sales techniques, hiring, firing, and motivating personnel, financial management, and business strategy.
Monday, June 6, 2011
Vying for Advertising Attention
One of the biggest, fastest-growing segments of the automotive performance industry is the off-road market, but beware of approaching it as if it were a monolithic mass. The market ranges from axle-busting rock crawlers and dust-eating dune racers to soccer moms whose grill-guarded, suspension-jacked, fog-lighted SUV’s never touch any surface rougher than the gravel drive at their weekend home at the lake. Each customer is different, but they’ve all got wallets ready to open to trick out their 4WD ride.
What differentiates these customers from each other is the way they use their off-road vehicle. What’s usually the same is what they want from the shop they choose: knowledgeable service. Industry experts believe that you’ve got to know the customer: “You’ve got the customer who knows the product, and he doesn’t want to talk to somebody who doesn’t know anything,” industry veteran Rusty Megois says. “Then you’ve got the other guy who has done the Internet research, read the magazines, but they’re still not sure. They rely a lot on what you tell them.”
That’s why shop and off-road park owner Carl Roy says he and his staff don’t sell anybody anything. Instead, “We explain things like the importance between differential ratio and tire size, weight balance and distribution, ground clearance, approach and departure angles, wheel speed versus the inertia of the vehicle.” He operates Performance Off-Road, Inc., in Alexandria, Kentucky.
Roy stresses the importance of learning as much as you can about the individual customer: “When it comes to what they want, it depends on their level of experience. For some of them, name recognition means a great deal, there’s a certain amount of brand loyalty. Others, it may come down to who had the best magazine ad that month.” The hard-core customer still sets the standard for the market, even though there are vast differences from one to another in that market segment and their tastes are changing, too.
Another factor to take into consideration is price. Price doesn’t seem to be as much of a concern to off-road customers as it is in other performance markets, although it’s always there in the customer’s mind somewhere.
There is also the influence of the Internet, which as Megois believes, “has made us all more competitive." But Roy believes that: “The Internet gives us a focal point to start the discussion. A lot of people will come in with an ad they’ve printed out and say ‘I’d like this for my Jeep. Can you beat that price?' That creates the opportunity for us to take them out and illustrate that there are differences—qualitative differences, warranty differences, product support differences, engineering philosophies—and how those transcend the price points of the product.”
Ultimately, the experts believe that quality time does the trick. “The amount of time we spend with the customer is our competitive advantage,” Roy says. “Everybody out there is selling the same stuff we are. The only advantages we offer are the experience and abilities we have.”
Dave Donelson distills the experiences of hundreds of entrepreneurs into practical advice for small business owners and managers in the Dynamic Manager's Guides, a series of how-to books about marketing and advertising, sales techniques, hiring, firing, and motivating personnel, financial management, and business strategy.
What differentiates these customers from each other is the way they use their off-road vehicle. What’s usually the same is what they want from the shop they choose: knowledgeable service. Industry experts believe that you’ve got to know the customer: “You’ve got the customer who knows the product, and he doesn’t want to talk to somebody who doesn’t know anything,” industry veteran Rusty Megois says. “Then you’ve got the other guy who has done the Internet research, read the magazines, but they’re still not sure. They rely a lot on what you tell them.”
That’s why shop and off-road park owner Carl Roy says he and his staff don’t sell anybody anything. Instead, “We explain things like the importance between differential ratio and tire size, weight balance and distribution, ground clearance, approach and departure angles, wheel speed versus the inertia of the vehicle.” He operates Performance Off-Road, Inc., in Alexandria, Kentucky.
Roy stresses the importance of learning as much as you can about the individual customer: “When it comes to what they want, it depends on their level of experience. For some of them, name recognition means a great deal, there’s a certain amount of brand loyalty. Others, it may come down to who had the best magazine ad that month.” The hard-core customer still sets the standard for the market, even though there are vast differences from one to another in that market segment and their tastes are changing, too.
Another factor to take into consideration is price. Price doesn’t seem to be as much of a concern to off-road customers as it is in other performance markets, although it’s always there in the customer’s mind somewhere.
There is also the influence of the Internet, which as Megois believes, “has made us all more competitive." But Roy believes that: “The Internet gives us a focal point to start the discussion. A lot of people will come in with an ad they’ve printed out and say ‘I’d like this for my Jeep. Can you beat that price?' That creates the opportunity for us to take them out and illustrate that there are differences—qualitative differences, warranty differences, product support differences, engineering philosophies—and how those transcend the price points of the product.”
Ultimately, the experts believe that quality time does the trick. “The amount of time we spend with the customer is our competitive advantage,” Roy says. “Everybody out there is selling the same stuff we are. The only advantages we offer are the experience and abilities we have.”
Dave Donelson distills the experiences of hundreds of entrepreneurs into practical advice for small business owners and managers in the Dynamic Manager's Guides, a series of how-to books about marketing and advertising, sales techniques, hiring, firing, and motivating personnel, financial management, and business strategy.
Thursday, June 2, 2011
Sharpen Your Sales And Management Skills
How can 13 be a lucky number? When it's the number of Dynamic Manager Handbooks now available as ebooks. The really lucky number, though, is 99 cents. That's the low, low price of these valuable management aids!
The Dynamic Manager Handbooks are for entrepreneurs, managers, and others who want to succeed in small business by learning more about management techniques, operations, and best practices. Each volume in the collection is devoted to a single topic. The material was extracted from the Dynamic Manager Guides, my series of books based on my experiences as a business journalist, consultant, and entrepreneur.
The Dynamic Manager Handbooks are available in formats for all popular ereaders, including your Amazon Kindle, Barnes & Noble Nook and many others at Smashwords.com
Titles currently available in the series
Sales Promotions: The Dynamic Manager's Handbook of 23 Ad Campaigns and Sales Promotions You Can Use
Customer Relations: The Dynamic Manager's Handbook of Customer Satisfaction
Sales Time Management: The Dynamic Manager's Handbook on How To Increase Sales Productivity
First Call Selling: The Dynamic Manager's Handbook on How To Make Sales On The First Call
Five Rules of Advertising: The Dynamic Manager's Handbook of Small Business Advertising
Marketing In Cyberspace: The Dynamic Manager's Handbook of Social Media Marketing
Beat The Big Box: The Dynamic Manager's Handbook of Winning The Retail Battle
Promotion and Public Relations: The Dynamic Manager's Handbook of Alternative Ways To Build Your Business
Customer Service: The Dynamic Manager's Handbook on How To Build Customer Loyalty
Making Sales Appointments: The Dynamic Manager's Handbook on How To Reach Prospects
Closing The Sale: The Dynamic Manager's Handbook on How To Make Sales Happen
Retail Selling: The Dynamic Manager's Handbook on How To Increase Retail Sales
Overcoming Objections: The Dynamic Manager's Handbook on How To Handle Sales Objections
There are many more sales and management skills to be covered, so visit your favorite ebook seller often to find the latest Dynamic Manager Handbook.
Dave Donelson distills the experiences of hundreds of entrepreneurs into practical advice for small business owners and managers in the Dynamic Manager's Guides, a series of how-to books about marketing and advertising, sales techniques, hiring, firing, and motivating personnel, financial management, and business strategy.
The Dynamic Manager Handbooks are for entrepreneurs, managers, and others who want to succeed in small business by learning more about management techniques, operations, and best practices. Each volume in the collection is devoted to a single topic. The material was extracted from the Dynamic Manager Guides, my series of books based on my experiences as a business journalist, consultant, and entrepreneur.
The Dynamic Manager Handbooks are available in formats for all popular ereaders, including your Amazon Kindle, Barnes & Noble Nook and many others at Smashwords.com
Titles currently available in the series
Sales Promotions: The Dynamic Manager's Handbook of 23 Ad Campaigns and Sales Promotions You Can Use
Customer Relations: The Dynamic Manager's Handbook of Customer Satisfaction
Sales Time Management: The Dynamic Manager's Handbook on How To Increase Sales Productivity
First Call Selling: The Dynamic Manager's Handbook on How To Make Sales On The First Call
Five Rules of Advertising: The Dynamic Manager's Handbook of Small Business Advertising
Marketing In Cyberspace: The Dynamic Manager's Handbook of Social Media Marketing
Beat The Big Box: The Dynamic Manager's Handbook of Winning The Retail Battle
Promotion and Public Relations: The Dynamic Manager's Handbook of Alternative Ways To Build Your Business
Customer Service: The Dynamic Manager's Handbook on How To Build Customer Loyalty
Making Sales Appointments: The Dynamic Manager's Handbook on How To Reach Prospects
Closing The Sale: The Dynamic Manager's Handbook on How To Make Sales Happen
Retail Selling: The Dynamic Manager's Handbook on How To Increase Retail Sales
Overcoming Objections: The Dynamic Manager's Handbook on How To Handle Sales Objections
There are many more sales and management skills to be covered, so visit your favorite ebook seller often to find the latest Dynamic Manager Handbook.
Dave Donelson distills the experiences of hundreds of entrepreneurs into practical advice for small business owners and managers in the Dynamic Manager's Guides, a series of how-to books about marketing and advertising, sales techniques, hiring, firing, and motivating personnel, financial management, and business strategy.
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