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Power Marketing Without
Money Business people approach me all
the time to ask for help in marketing their business. Almost
without fail the conversation starts something like, "I'm
in XYZ business, I don't have any money, what can I do to increase
sales?"
Since I've long been an advocate
of "outsmarting the competition -- not outspending them,"
I'd like to share with you some of the tips that can substantially
increase your business at little or no cost. Some of you who
have read my columns for some time will have been exposed to
some of these ideas, scattered here and there throughout other
articles. This can act as a comprehensive checklist (notice I
don't say complete -- there are always new ideas) when you want
to boost business without taping the checkbook. Even you entrepreneurs
that have some cash set aside for marketing should employ some
of the "free" ideas first, then decide if you have
to supplement them with paid marketing activities.
Plan For Profits
Planning is far more important than throwing money at your marketing,
so please don't cut this step short. Determine what you want
to accomplish, then go about doing the research needed to meet
your goal. That may require some library time, information interviews
with executives or members of various trade, professional or
business organizations; and studying your competitors regularly
to spot their weaknesses or the market niches they aren't filling.
Then you can plan the right kinds of marketing strategies and
tactics that will allow you to accomplish your goal.
Schmooz or
Lose
Networking is a fabulous way for most businesses to build awareness
in the community. Look into chamber of commerce memberships --
and then
attend every mixer and event they have. Better yet, host a mixer
if you have a
large enough facility and expose dozens, possibly hundreds of
people to your business at one time.
Lead clubs are also an excellent
way to gain local visibility without much cost. If
you are unfamiliar with the concept, they're groups of people
in non-competitive
business categories. The members agree to meet regularly for
the purpose of getting to know one another and thereby refer business back and
forth.
For additional exposure get involved
with local service clubs, attend local trade shows, and other
events where your prospects are likely to frequent. I've schmoozed
-- a lot I'd say over the years. The result, about 40% of my
business comes from consistent networking.
Go Public
Let the world know you understand what your business is really
all about. One of the best ways to do that is through public
relations.
When something newsworthy happens
in your business, let the media know. Business people that use
this technique regularly tell me they see a 15%-20% increase
in their business. What's newsworthy? Adding a new product or
service, adding or promoting personnel, innovative new operations,
awards and major contracts you've won, etc. Press releases are
easy to prepare and can generate a great deal of business.
Write feature articles for publications
that reach your target market. This positions you as an expert
and gives you a forum by which you can educate your market on
the products and services that you provide.
Sponsor sports teams or events
which reach your target market. A drycleaner may offer to launder
the uniforms of the local little league team while a pizza parlor
may provide a discount for post-game parties. Once you agree
to sponsor something that becomes a newsworthy topic, don't forget
to prepare a press release so the entire community knows of your
generosity -- not just the few who are directly involved.
Work Your
Gold Mine
Your customers are your gold mine. They are the greatest, and
cheapest, source of additional business. And just as a mine doesn't
spew forth gold nuggets without hard work, neither does your
customer base. You need to work them to make them really pay
off.
Rarely does a business truly
capitalize on the additional sales potential of selling more
products to customers they've fought hard to get. When you or
your employees aren't busy making sales to people who have called
you or come to your business, you should be making outbound calls
to remind them of specials you may be offering. Advise them of
new products or services that meets their needs, or check on
how they were serviced the last time they did business with you.
What's the payoff? A thirty or
forty percent increase in business is not uncommon when customer
follow-up is used consistently.
To do this effectively, you'll
probably want to invest in a contact management software program
for your computer. They're inexpensive, powerful, and one of
the best business investments you'll ever make.
Dress for
Success
While visiting a dry cleaning establishment one day to talk with
the owner, she greeted me clad in shorts and a T-shirt. Probably
in her mid 20's, she had inherited the business from her parents.
Looking around, I saw the other employees dressed in a similar
fashion. Her complaint, sales dropping and she can't get enough
respect from her employees to effectively manage them. A change
of clothes could have done wonders. As simple as it sounds, the
proper attire leads to sales. What's proper? Well, navy blue
is the color, and beyond that something that suits the nature
of your business.
For instance, roofers have told
me that they can wear navy blue coveralls or Polo shirts with
slacks and see an increase in business. As did the business consulting
firm that required their sales staff to wear navy blue suits
because they had seen a 10%-12% increase in business when they
did. Don't question it, it's been tested and proven too many
times. Just do it and reap the rewards yourself!
Greetings
from The Bottom Line
If you ask the proverbial question as someone enters your business
or calls on the phone, "hi, may I help you?", re-think
the question and the answer will appear on your bottom line.
Tested in retail environments, changing the greeting to "have
you ever been in our store before" or "are you shopping
for yourself or looking for a gift today", generated a 15%+
profit increase. The same principal applies to service businesses
as well as retail businesses, so test some new approaches, quantify
your results, and settle on the most profitable approach -- instead
of the most convenient.
Even though your results may
vary, let's tally up the score card based on the studies that
have already been done.
| Planning |
Exact Figure Not Known |
| Schmoozing |
40% |
| Going public |
10% |
| Mining |
30% |
| Dress |
10% |
| Greetings |
15% |
| Total |
110% |
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Oh my. We've just doubled
sales without spending a cent. How 'bout that!
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