Grow Business in 2009, Existing Customers the Answer

My goal this month has been to discuss ways to market and grow your business in 2009, and there is no doubt that one of the most important things you need to do for success this year is to retain current customers.

I’ve been having a number of conversations with folks as of late on this topic and we all agree that it’s time that corporate America and small business offer loyalty to their customers, and the customers will return the favor.  Especially during slow economic times.  Sometimes just showing a customer that “you get it”,  that it’s a difficult time for everyone, can bring loyalty from a batch of customers you probably didn’t even know you have.  However, you should answer this question, “what are you willing to do to retain customers?”

This morning, as I often do, I was catching up on some reading and saw this article that I want to share with you:  “Why Customer Retention Trumps New Business” This story’s focus is the Internet, but it applies to every area of customer retention.  It re-iterates so many points I’ve recently made here on Small Business Daily.
Tell me what you think!

Jennifer Fortney, Cascade Communications

Phenomenal Internet Usage Stats – 1 Billion!!

If there was ever a doubt about the wave of the future and where you’d better be focusing your business advertising check out these numbers.

Comscore reported last week that the total global internet audience (age 15 and older from home and work computers) surpassed 1 billion visitors in December 2008.

The Asia-Pacific region accounted for the highest share of global Internet users at 41 percent, followed by Europe (28 percent share), North America (18 percent share), Latin America (7 percent share), and the Middle East & Africa (5 percent share).

“Surpassing one billion global users is a significant landmark in the history of the Internet,” said Magid Abraham, President and Chief Executive Officer, comScore, Inc. “It is a monument to the increasingly unified global community in which we live and reminds us that the world truly is becoming more flat. The second billion will be online before we know it, and the third billion will arrive even faster than that, until we have a truly global network of interconnected people and ideas that transcend borders and cultural boundaries.”

According to Comscore figure, Google was the most popular property in the world with 777.9 million visitors, followed by Microsoft Sites (647.9 million visitors), Yahoo! Sites (562.6 million visitors). Facebook.com, which has grown a dramatic 127-percent in the past year to 222 million visitors, now ranks as the top social networking site worldwide and the seventh most popular property in the world.

Chris Nastav, KC Web Specialists, LLC. www.kcwebspecialists.com
Experts in how business gets done on the Internet (913) 908.5642

Marketing and Thriving in 2009

Chances are pretty good that right now many of you are thinking about and looking for information on how to keep a small business thriving during a recession.  (It’s a good thing you found Small Business Daily!) If you haven’t sat down and thought about this one thing, then you should:  It’s times like this when small business have the rare opportunity to leap frog over their competition.   It’s true!  While big business is cutting back spending on marketing, small businesses continue moving forward and they are getting creative about it.

I’ve heard the story before from small business owners who used times like this to their advantage.  They didn’t sit around and worry about the economy, instead they put creativity to work and developed new, cool and even very affordable ways to market their business and communicate to customers.

Think about it this way, you may say “I’m not a large company.  I can’t do that”, but the reality is that small businesses have much more flexibility then big business.   There isn’t any red tape to cut through, no massive sales staff or major distribution channels to formulate expensive communications and promotional materials for, and finally no limitations to what you can do and when.

This is your chance to sit down, brainstorm some unique marketing tactics that you can truly call your own;  things no competitor large or small is doing. Here are a few ideas to get you thinking and planning:

1. Focus on targeting your messages and speaking directly to customers.  Give them exactly what it is your looking for and provide a reason to walk in the door.
2. Make that incredible offering, promotion, discount that competitors wouldn’t dream of doing to encourage trial and make a sale.
3. Zero in on customer service this year to ensure that you hold on to customers.  They’ll appreciate it and they’ll spread the word.
4. Get your story out there.  If you have a good story to tell, an interesting new product or service GET IT OUT THERE.  Public relations is your friend.  Don’t be afraid to make it a real goal for the year.
5. Create ongoing communications with customers and let them know you understand what’s happening and appreciate their business.
6. One of the most popular trends that started during the last economic slowdown was the advent of customer appreciation cards (you know like the one you use at your local grocer) and customer loyalty programs.  Some of the best programs I’ve seen include giving an ongoing discount to regular customers every time they walk in the door or a special extra “something”.

Trust me there are still a million and one viable ideas that no one has thought about and every business whether product or service-focused can develop one.   Plan about three hours out of your week and, if possible, gather some trusted friends or employees to help you brainstorm new ways to communicate with existing customers, attract new ones and become a thriving business in 2009.

You might be surprised to know that a number of small business owners I know and work with are incredibly excited and feeling positive about 2009.  I encourage everyone to get on that bandwagon by doing something new for your business that will excite and motivate you this year!

Jennifer Fortney, Cascade Communications

BRAND: What’s in a name

What’s in a name, you ask?  EVERYTHING

The name of your company and the supporting statement  or positioning statement as we call it, should communicate immediately what your company is and what it has to offer.  To often I see business names that are established but I cannot tell what their business does.  For example I worked with a company that had their identity, name and logo as TPC.

This company had been in business for over 20  years.  The logo and identity name was an abbreviation of the company – TPC.  What is that?  Actually it stood for Tablecraft Products Company.  As I sat with the president of the company andlearned about their business, I found out that everyone referred to them as Tablecraft, which is truly representative of the product.

This company supplies restaurants with the hard goods for serving food – the salt and pepper shaker, the basket for fries and even the little dish that holds sugar packets.  There are many products they offer.  I was brought in to discuss the annual catalog for an update and I quickly pointed out the confusion of their identity and name.  In a down market we re-positioned the name, logo and catalog and sales went up.  Why?  Because people immediately recognized the business, its goods and services.

Take a minute to look at your brand identity.  Does it effectively communicate your business to customers?   You’d be amazed at a what a shift in logo design can do to invigorate sales.  It’s because if people don’t know right away what you do then they may never take the time to research and learn.  Like you they are busy business owners so you need to be direct about who you are and why they need to engaging your business.

Now is not the time to stop your marketing efforts, now is the time to work smarter.  You ask what’s in a name, every thing.  Make yours memorable, short and to the point and never underestimate the power of good design to help communicate your business to potential customers.

Julie Trotter Clark, JT Clark & Associates

Is Coaching Effective?

Some research findings… You be the judge.

• Research by the International Personnel Management Association (IPMA), results of which were published in January 2001, concluded that “ordinary training typically increased productivity by 22%, while training combined with life coaching increased productivity by 88%”

• “Between 25 percent and 40 percent of Fortune 500 companies use executive coaches” Recent survey by The Hay Group, an International Human Resources consultancy
  

• “..business coaching, a trend that’s exploding among small businesses and entrepreneurs nationwide. It’s estimated that up to 20% of American small businesses are using them, up from 4% just four years ago.”- Chicago Business

• “Employees at Nortel Networks estimate that coaching earned the company a 529 percent “return on investment and significant intangible benefits to the business,” according to calculations prepared by Merrill C. Anderson, a professor of clinical education at Drake University.” -Psychology Today Jan. 2003

• Results of a coaching poll of mostly FORTUNE 1000 companies: The respondents were executives from large companies who had participated in either “improvement” or “growth” oriented coaching for 6-12 months. The survey demonstrated that the participants valued the coaching at 6X the cost paid by their company. So, an $18,000 executive coaching program investment generated value at approximately $108,000.-Fortune Magazine (Fortune 2/19/01)

Michael Shapiro – Dynamic Management Solutions, Inc.

More on PR and Embracing Amateur Journalists

This is a great e-zine that I read regularly and invite you to do the same.  Simply sign up to have it delivered directly to your in box.

On the topic of PR, this article will be helpful to all of you in pursuing PR and marketing for your business….tell me what you think about it.

“Edelman’s director of insights explores the current evolution of the marketing and public relations landscape and explains why digital marketers need to focus on integration, not the latest technology fad…..”   (more http://www.imediaconnection.com/content/20755.asp)

And if you think you’re going to be able to pitch media on Inauguration Tuesday, think again.  This is the biggest story of the year and everyone will be tuned in.  You should be as well.

Jennifer Fortney, Cascade Communications

Strongly Held Beliefs…

We all have them – some are called opinions – others are considered fact. When these pertain to people, in areas of professional performance or relationships, things get a little fuzzy.

I often hear a client say “My boss is crazy” or “This employee is unmanageable” or “My teammate is out to make me look bad.” My response to these statements and others like them is “What data do you have to support this belief?”

Then the conversation gets interesting. It often turns out the “data” is flimsy or non-existent. Sometimes there’s a “history” with the other person – other times it’s more of a fear than a fact. Perhaps it’s a case of “In the absence of data, we fill in the blanks with our own fears and anxieties.”

How do we decide what that data is? Use an objective outsider you respect who knows you and your “situation”. Have them ask questions – even difficult ones such as “What’s your piece of this?” See if you can substantiate your belief with data. Only then can it be considered more that just an opinion.

Michael Shapiro, Dynamic Management Solutions, Inc.

How are you communicating to customers?

Everyone is looking to grow current number of customers, but it’s important to look at how you’re communicating with them,  if you’re communicating to them at all.

If you aren’t communicating with customers on an ongoing basis how can you expect to grow your business, especially during economic times like this?

To reach potential new customers you really have to sit down and define who your customer is.  Where do they get their news and information?  What do they do?  What are they looking for?  What do you have to offer them?  Answer these questions and you can begin to understand what you need to say and then when, where and how you need to say it.

Options for communicating to new customers include direct mail (with a great offer for trial or discount), public relations and advertising.  You can even create a newsletter (Constant Contact is an affordable option) and purchase an email list through local vendors.  Whatever you do make sure that your words will attract the customer to you.  Most first time purchases or trials come from making a strong offer, coupon or having a sale.  (These promotions are particularly attractive to people these days).

Finally, remember that it’s just as important to maintain communications with existing customers as it is to attract new ones.  They’ve already tried your business and, hopefully, had an extremely positive experience and will return again and again.  While advertising and PR will make them feel good about using your business, I suggest asking current customers for their email address, or start getting it when they start business with you, and create a newsletter specifically for them.  Today, email newsletters can be personalized and you can afford to have two with different messages.

Just make sure that you aren’t SPAMMING customers with too many communications in a month, or even a week.  Keep them timely with valuable information and offers otherwise people will opt out of the email list by unsubscribing.  Direct Mail services are specifically designed to deliver on a quarterly basis to insure you aren’t “over doing it.”

Share your advice on communicating with customers.  What’s been your greatest success?

Jennifer Fortney, Cascade Communications

Shoppers Just Want to Have Fun

Are you selling a product or a service? If it’s not a mortuary service or something serious like that, consider adding just a little bit of levity to your Web site.

Now before you get all serious on me and say something like.. “Not on my site you won’t”… Consider what Levity means.. frivolous or lighthearted behavior or attitude; an unserious approach to life.

Do a quick scan of your Web site. How many happy smiling people do you have on your pages?  None? Well folks, yes you too can add levity to your site by just changing the pictures on the pages. Is it not the goal of your service to provide hope, optimism, good feelings, security, happiness or some other adjective with your product or service. Especially today, with the economy the way it is, put some happy people on your Web site.

Chris Nastav, KC Web Specialists, LLC. www.kcwebspecialists.com
Experts in how business gets done on the Internet (913) 908.5642

Goals and Accountability

They go hand in hand – Goals describe the desired outcome or achievement – accountability makes it measurable, verifiable, and public. Why should one be accountable after setting a goal? Isn’t it enough to say to yourself “I’m going to … by the end of the week/month/year? No – it’s not enough.

You know the reason already – we’ve called them “New Year’s Resolutions”. How long did they last – a few days, a week, a month?

Make your goals S.M.A.R.T –

· S for Specific: Describe specifically the result or outcome Instead of “get to the gym more often,” the objective should be “get to the gym three times per week for an hour or more.”

· M for Measurable: The second example is much more specific and also addresses the second factor—measurable.

· A for Achievable: Your goal should be achievable. For instance, an objective which states “100 percent customer satisfaction” isn’t realistically achievable. It’s not possible to expect that everyone will be 100 percent satisfied with their service.

· R for Realistic: This leads into the next factor—realistic. Realistic objectives are objectives that recognize factors which can not be controlled.

· T for Time-based: The final factor for a good objective is that it is time-based. In other words, it’s not simply, “improve customer service by 12 percent,” it’s “improve customer service by 12 percent within the next 12 months.”

A very few people can set “private” goals and follow through – the majority of us need some motivation such as not wanting to disappoint someone, or be embarrassed, or appearing to be weak-willed – so when we ask someone to hold us accountable, we’re creating a structure to enable our success.

What are your “New Year’s Resolutions”

Michael Shapiro – Dynamic Management Solutions, Inc.

Resolution: Be An Expert In Your Field

When you think of those in your industry who appear to be the most successful, how do you define it?  Did they write a book?  Are they a regular contributor in industry publications or local news?  Do they have a radio show or are repetitively asked to offer comments for media interviews?

Becoming an expert in your field is no easy task but it can offer a road to generating public relations for you and your business that will put you above and beyond your competitors.

Here are four steps to becoming an expert:

• Differentiate yourself – this is key because if you are no different than anyone else, what do you have to offer?
• Make yourself seen and heard within your industry
• Position yourself as an expert through press materials and website
• Generate PR – journalists often research experts through other media

It doesn’t really matter what industry you’re in, you can set yourself apart from all others.  Making yourself different enough to be seen as an expert with a unique point-of-view takes real thought.  The process of becoming an expert takes time and energy, but it can become one of the most valuable PR strategies you embark on.

Here’s to a prosperous 2009 for us all!

Jennifer Fortney, Cascade Communications