4 Insights To Improve Your Business Now

So I was talking to a business owner about their current situation. They ran a furniture store. Pretty good inventory and a decent location because it was near some new housing and not too far from a military base. They were drowning. As I spoke to them more they said “we don’t understand the new way of business.” That resounded with me because a lot of small business owners are thinking this, but won’t say anything. They were used to the old school ways of people having extra cash and buying the most expensive things or referrals being their life blood

THE GLORY DAYS ARE OVER!

(at least for now)

As I spoke to them they also though the newspaper was still a viable form of marketing………..

Therefore, I wrote this blog to let you know the simple, inexpensive tips I bestowed upon them to get them going now. These are sales and marketing tips that can be applied to any business format.

1. Business is getting a customer and keeping them for life. This needs to be a way of life. Unfortunately businesses lose an average 10% of their customers each year for various reasons. A way to curtail this is to realize that you began a relationship when they spent their money on you. Target will never know me. Though they try withemail marketing. Why don’t you? Send thank you emails. Ask them a bit about their lives. Yourself is your favorite topic. Your clients feel the same way about themselves. Indulge them. Who knows, you may develop some genuine relationships like people did in the good old days.

2. Don’t throw a lot of money at advertising if you can’t or unless you’ve exhausted other means. The place I dealt with instantly thought about the newspaper. That costs money. Do you have a Google page? No. Do you have a Twitter? No. Do you have any web presence? No. So how will the Sunday paper help you?! Unless your audience is only seniors, forget about the paper. About 90% of people say that online reviews impact their purchases somehow. If you’re not involved online then you’re missing 90% of the people shopping! That’s huge, isn’t it? Try the free means of advertising before you blow money you’re losing. IT’S FREE FOR GOD’S SAKE!!!

3. Do not every begin the relationship with your customers based on budget. I know that is hard to hear for some people, but it is a proven no no that great sales people live by. A lot of small businesses can’t hire a sales force or the one they have isn’t stellar. In this furniture store they developed a habit of asking “what is your budget?” This cripples you. You should approach with as many open questions as possible. What are you looking for in particular? Where will you be using it? Tell me about that area. How long did you have your last __? Budget becomes a last piece because if they give you all of the emotional reasons of why they are even looking for something then the logic will come into place. It reminds me of a time when me and my wife were in a hotel and needed to just get some lotion. We stopped at one of the seemingly unattended cosmetic booths and used some lotion. A young lady approaches and starts to ask if we need any facial products. We say no, but then she asks what are you using now? This opens up a whole conversation of what we tried, what did or did not work, what success she had with her product versus others. Needless to say, our innocent stop for lotion led to a cosmetic purchase because she appealed to our emotions. We rationalized the price afterwards. Most of your clients behave in the same manner so live by emotions not logic.

4. Look at things from your client’s eyes. All of us forget that there are 2 sides to business some times. We get so hung up on what we want and how great our business is that we forget that our customers often have limited resources. This doesn’t mean treat them like scum, but instead show empathy and figure out how you can genuinely help them. If you sell any physical product, really figure out what your product will mean to them and convey that back. If you sell a service, try to really understand how your service will improve THEIR LIFE. We often times know we have a great product that we know everybody needs, but people need it for different reasons. A lot of purchases happen because people feel comfortable with the salesperson. You, as a small business owner need to develop that skill until you can hire somebody that comes with that.

In short, your customers are people too and the internet is one of businesses greatest tools. Few things we do are done with total logic. A large majority of our decisions are emotional. Print and television advertising is dying. Print is losing about 39% of advertising, television is losing about 7% per year, and internet advertising is growing at least 10% each year. Catch the wave!

PS – I hope these tips help your business grow.

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Your Fear Of Technology Is Killing Your Business

I work with all different walks of life when it comes to business. Young, old, black, white, skinny, fat, foreign, local, etc. With that said, I have noticed a terribly annoying trend with certain groups (there’s not one specific, but all in all they are pesky).

This group is the “I don’t like technology even though it controls 99% of my life” group. When I say technology it can be anything from social media topaperless payments to email marketing. These people seem content on the “word of mouth” factor and referrals from existing customers…………..

I’m dedicating this blog to these people to open their eyes to a few things:

1. Businesses typically lose 10% of their customers each year. This is typically in the case of the businesses that have no efficient way of attaining new customers. Word of mouth isn’t nearly efficient as it used to be when you speak on it vocally. The internet is the new word of mouth. 72% of people trust an online review as much as their friend! Capitalize on this! Make a bloody Google places page (this takes time so get on it……….mine is still in limbo with the “we do not service” error………) or Google+ for God’s sake!!

2. 91% of internet usage on mobile devices is spent socializing. This is huge!! EVERYBODY IS ON SOCIAL MEDIA! WHY AREN’T YOU?! I admit it can be daunting, but not unbearable. Pick 2 platforms to start with and really study and get used to them. When you opened your business you probably spent a lot of time looking for print marketing or television. Apply the same to social media.

3. I don’t like paperless systems / I don’t want my info on the internet. This one really irks me because the people that say this already have info on the internet!! If you have car insurance, the info is online. If you have a home, the info is online. If you pay bills, you probably pay them online (you’re silly to waste postage if you don’t do this). If you have a business, your info is online. When you can get a paperless system for your office it means:

a. You don’t need as many filing cabinets

b. You can find records in minutes even seconds versus hours.

c. You save paper that would otherwise be thrown away within 6 months.

d. If your office burns or you move your records are still there (thank the cloud!)

e. Lessening your exposure the Cancer causing chemical BPA .

4. We get all of our clients from referrals. This is awesome if it always happens, but there’s a few things you’re leaving to chance. If you go through a slew of transit, cheap, or unhappy customers, then you get no referrals. If the clients you do get aren’t forthcoming about their experience or don’t have friends that need your help, then dead end. Referrals today come from the web so much. This is why places ask “how did you hear about us?” More often than not you’ll hear they found you online or saw a web ad. People spend about 60% of their online time shopping. You need to position yourself for this.

In short, don’t be a hermit! The digital age has been hear since we though Y2K was the end of the world! The only thing that ended then was the world as we knew it.

I like to phase it this way a lot: if I presented you the option of a land line phone or a smart phone for the same amount of money each month, which would you choose?........................

If you say landline phone, disconnect your computer right now…………..

I hope these tips help your business grow!

PS – I help business owners increase their sales and lower their costs up to 40% on average.

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3 Key Reasons Nobody Reads Your Emails

Hello all! So you’re new to business or you’re an existing business new to all this new fangled technology.

What do you do?

Aside from the obvious (get a webpage and some social media) you need to speak to your customers. This would seem easier for existing businesses, but remember businesses lose an average of 10% of their customers each year (so make sure you create at least 11% more customers each year…….).

This is where people get all tongue tied. Sure you’re emailing them, but are they reading them. Although email is a preferred method of contact in today’s society, people are selective and will junk your email like snail mail. Plus, your wording could be sending you right to the spam box. So here’s a few tips I’ve developed

1. Personalize it : Just because the medium of email isn’t personal you can still add a human touch to it. Put the customer’s name in the subject line if you are individually emailing them. People often scan their inboxes really quick and seeing their name will at least catch their attention. Also use their name in the body of the email and attribute something that has to do with your interaction with them in the email. Nobody wants to be a number so prove you thought this communication through.

2. Use strong words that elicit action: This gets to be a bit tricky. I’d try to stay away from things like 100% free or act now!! I mean things like “This needs your attention now” or “your input is needed now”. Now is one of those words that create instant urgency. Use it. Also, the phrase “ending soon” has tested with great results so if it applies to your business, try it.

3. Keep the subject short and to the point: there are a lot of sources that say email subject lines should be 50 to 80 characters. This could be very true for desktop email clients, but there are 1.08 billion smart phones in the world and growing. The preview pane for a cell phone viewer is much smaller than 50 characters. Average is about 25 characters. Therefore, either limit your subject to 25 characters or design it in such a way that at the 22-25 character mark the subject can chop off and still be relevant. A great way to test this is with this free tool from Mark Brownlow .

Hold these principles true. Subject lines are your in and they can be hard to get sometimes even from existing customers, but once you have it there is potential for more revenue ( or exposure if that is your purpose).

I hope these tips help your business grow!

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