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| The EMBA
Marketeer Issue 33 — April 2002 Spring is the Time for Clean-up and Sprouting The Spring season brings to mind seemingly diametrically
opposed activities. It is a time to clean out and clean up so
that you can be prepared to move forward in an uncluttered manner.
At the same time, it should be a season for the sprouting of the
seeds you have planted to obtain new business and increased customer
activity. Marketing is a full time activity-one that cannot be
turned on and off like a faucet. Hopefully, you are well into
Spring planting so that you can readily harvest the results of
your marketing efforts. Getting Cash
Getting Customers As I see it, the two biggest issues facing small business are marketing for new customers or clients, and cash flow management. Every business - small or large - needs to be constantly on a search for additional opportunities. The problem in the smaller business (particularly the sole practitioner) is balancing the time between serving present clients and plowing the fields for new customers. Marketing is something that needs to be done regularly - weekly or even daily. There is no magic pill. The marketing "rule of seven" says that it takes at least seven contacts of as many different types as possible to turn a prospect into a client. In today's high-powered communication world, the number of necessary contacts may have grown significantly. These contacts could include advertising, publicity, direct mail, telephone, brochures, seminars, audio and/or video cassettes, premiums and articles. Cash management is the second major issue with which small businesses need to cope. Profitability is important, but if there isn't enough money coming in each month to pay the necessary expenses, the business may go out of business before the profits show up. Cash flow (and its management) is a critical element. Without it, doors will close around you. As the business develops, another tough challenge comes with the decision to add or reduce staff. Too often a small business will wait too long to add a person to the payroll, either part-time or full time. This is equally true of handling the decision to cut back. There are no easy guidelines, but, whether adding staff or stepping back, emotions must be put aside so that the situation can be examined from a realistic business viewpoint. Elliott M. Black When You Compete, Competition is an essential part of business. You compete with
people from other companies. You compete with coworkers and people
from other departments. You even compete with the boss. Every
day you win some and every day you lose some. It makes you feel
good or bad, depending on the outcome.
You're a golfer if you:
Competing in business by competing as in golf can be very frustrating
at times. In boxing you can try to control your competitor, but
it's almost impossible in golf. If you're concerned for your own
physical and emotional health, however, remember that a golfer
is the same person before, during and after competition. Boxers,
during the latter two phases, simply hurt. If your relationship
with your competitor is one where you'll need each other when
the conflict is over, assess the damage that boxing can do to
both of you. Is it worth it? Carter Johnson, Buying Time The Top 7 Ad Copy Secrets 1. Use a handwritten letter on your ad copy instead of text. Write the ad on a piece of paper, scan it and publish the ad on your Web page. Adding a personal touch will always increase your sales. 2. Publish on your ad copy a list of famous and respected customers who have bought from you. People will think that if these people bought from you, they should also trust your business, and purchase your products. Make sure to get their permission first. 3. Show before and after photos for the usage of your products on your Web page. Show the problem picture and then beside it show the picture of the resolution to the problem when they use your product. 4. Include an article or review that has been written about you or your business with your ad copy. This will show people that your business is respected and will increase your credibility. 5. When you offer free bonuses in your ad copy, also list the dollar value beside each bonus. People will feel they're getting a good deal and it will increase the value of your product. 6. Hire a famous person to endorse your product or service. Make sure the person is well-known by your target audience. Include his/her picture and statements on your ad copy. 7. Include your own picture on your ad copy. This
will show people that you're not hiding behind your ad copy and
will increase their trust. Also, include your contact information
before the picture and a brief statement or quote. Steps to Bring a Project Or Idea To Fulfillment Most people dream of things they want, or they come up with great
ideas - but take no action. This leads to frustration and a lack
of fulfillment in life. Many people never allow themselves to experience
the exhilaration of realizing a dream. Follow the steps below and
feel the thrill. Want Faster Response?
Did You Know
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Marketing and Management
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