The typical small business owner does not have a huge budget for marketing, especially in the early phases of the business. Yet, without new clients the business cannot survive or thrive, so marketing is a must. Here are some high impact - low cost marketing strategies to get you through the early years. This will be a 4 part series..... and I will start first with Old Media, because I think we are forgetting some tried and true marketing methods in favor of the New.
Neighborhood Marketing
Select a neighborhood or a few neighborhoods that you would like to target for business, and put together a campaign. Your campaign can consist of knocking on doors, leaving door hangers or small bags with info, menus, coupons, grand opening specials, refrigerator magnets, etc on the door. To get the best value for your efforts, try to talk with everyone in the neighborhood personally, and leave something every 2-3 weeks for the first few months. After you have "established" yourself or your business in the neighborhood, you can market less frequently incorporate some direct mail, and/ or hire someone to walk the neighborhoods for you.
Create Media Hype
Send press releases to all regional and local newspapers and publications. Create a "newsworthy" story for your business, and this will go a long way to help you build awareness for your business in the community.
Local Events
Find ways to promote your business inexpensively within the community; through fundraisers, festivals, conferences, chamber events, networking events, and more. Look for events with a large draw and low exhibitor fees. Use a personal touch to engage your prospects.
Celebrity Endorsement
Can you get the endorsement of a local celebrity? This may be easier than it sounds and free or inexpensive. Offer free products in exchange for their endorsement. Do you already have a well-known client? Ask your friends for help.
Consider Radio Advertising Radio advertising is typically much less expensive than television, and allows you to target your demographic well.
Print Advertising and Direct Mail
Be very selective with print advertising and direct mail. Both can be expensive with minimal results when not used correctly. Consider using coupons as part of your ad. or direct mail promotion to help drive traffic to your business. Print advertising and direct mail are best reserved for those with a very focused market and a focused audience. If your audience is broad, and a publication or mailing list is broad... marketing dollars may be better spent in some of the other areas mentioned.
Next Week: Part 2: Business to Business...Old Media
Amanda Wodzenski is a regular blogger for the WSBA, and the owner of CRMastermind, a consulting company that specializes in CRM and e-mail marketing for Small Business. Visit her blog Your Small Biz Technocoach.
Tuesday, July 13, 2010
Tuesday, July 6, 2010
NETWORKING WILL GET YOU FAR
Do you have any idea how many people you actually know? Kristen Wolf tells us that scientists have researched this question and discovered that on average a person knows roughly 2,000 people. And, he or she stays in contact with 500 of them on a regular basis. Who makes up the 2,000 people? Friends, families, colleagues, neighbors, clients, teachers, hairdressers, accountants and lawyers are among this group.
Networking, or creating contacts with people, strangers or acquaintances alike, has become a popular way of doing business in the last five years. Take a look around and you will see ever-increasing opportunities to meet people from all walks of life. Whether you are a business-owner, seeking work or already working, networking is a staple. It’s a fact that well-networked individuals have greater job security, will find new employment faster and have a steady stream of
prospects in the pipe line.
So, how does it work? First, you attend networking events. If you have never done so, ask a friend or associate to come along. If you don’t know where to go, check with people and find out where they network. You can check local papers, do a Google or Yahoo search of your area or call local chambers or business associations. Networking events are a bit like dances. If you are an introvert, then you will need good strategies for meeting new people. If you are an extrovert, you’ll take to networking easily.
Regardless of your personality type, there are rules about networking. And, even if you come home from a networking event feeling pretty good because your pockets are bulging with others’ business cards, you must follow up in order to turn those contacts into customers, clients or careers. Networking is about building relationships, which occurs over time. Just as with family and friends, the way to build and maintain relationships is to keep in touch.
Here are a few tips that will help you make the most of networking:
Most important, enjoy yourself and be yourself. There is no need to put on an act when meeting new people. You will click with some and not with others. That’s okay! You can’t network with everyone.
1. Write a simple note after you meet someone with whom you want to stay in touch. Handwritten notes are opened right away and it’s harder to throw them away. You've seen such notes tacked on bulletin boards. Be brief and mention something about your conversation that trigger the receiver's memory about you and where you met.
2. When you update your business card, send a new card to your contacts.
3. Update contacts on the progress and outcome of referrals they have given you. Send a thank you note or small gift for referrals.
4. Make matches. Put people together who can be helpful to each other or who have something in common. Ask them to let you know how the connection turned out. People who are known for their ability to make matches will receive more referrals from strangers.
Always give referral or support. There is plenty of work for all of us and it is always nice to be remembered as a generous giver. And, remember to have fun. It won’t take long before you become a seasoned, successful networker.
Barbara Schwarck leads Clear Intentions, an international people development company that offers Neuro Emotional Coaching™, training and assessment services to leaders and professionals who want to create exciting new possibilities for their future. To find out more about how to get rid of your leaky roofs or any other triggers or get a copy of Barbara’s book called From Intuition to Entrepreneurship: A Women’s Guide to Following Her Dream, visiting www.clearintentions.net.
Networking, or creating contacts with people, strangers or acquaintances alike, has become a popular way of doing business in the last five years. Take a look around and you will see ever-increasing opportunities to meet people from all walks of life. Whether you are a business-owner, seeking work or already working, networking is a staple. It’s a fact that well-networked individuals have greater job security, will find new employment faster and have a steady stream of
prospects in the pipe line.
So, how does it work? First, you attend networking events. If you have never done so, ask a friend or associate to come along. If you don’t know where to go, check with people and find out where they network. You can check local papers, do a Google or Yahoo search of your area or call local chambers or business associations. Networking events are a bit like dances. If you are an introvert, then you will need good strategies for meeting new people. If you are an extrovert, you’ll take to networking easily.
Regardless of your personality type, there are rules about networking. And, even if you come home from a networking event feeling pretty good because your pockets are bulging with others’ business cards, you must follow up in order to turn those contacts into customers, clients or careers. Networking is about building relationships, which occurs over time. Just as with family and friends, the way to build and maintain relationships is to keep in touch.
Here are a few tips that will help you make the most of networking:
Most important, enjoy yourself and be yourself. There is no need to put on an act when meeting new people. You will click with some and not with others. That’s okay! You can’t network with everyone.
1. Write a simple note after you meet someone with whom you want to stay in touch. Handwritten notes are opened right away and it’s harder to throw them away. You've seen such notes tacked on bulletin boards. Be brief and mention something about your conversation that trigger the receiver's memory about you and where you met.
2. When you update your business card, send a new card to your contacts.
3. Update contacts on the progress and outcome of referrals they have given you. Send a thank you note or small gift for referrals.
4. Make matches. Put people together who can be helpful to each other or who have something in common. Ask them to let you know how the connection turned out. People who are known for their ability to make matches will receive more referrals from strangers.
Always give referral or support. There is plenty of work for all of us and it is always nice to be remembered as a generous giver. And, remember to have fun. It won’t take long before you become a seasoned, successful networker.
Barbara Schwarck leads Clear Intentions, an international people development company that offers Neuro Emotional Coaching™, training and assessment services to leaders and professionals who want to create exciting new possibilities for their future. To find out more about how to get rid of your leaky roofs or any other triggers or get a copy of Barbara’s book called From Intuition to Entrepreneurship: A Women’s Guide to Following Her Dream, visiting www.clearintentions.net.
Tuesday, June 29, 2010
It Will Only Cost You Your Time
How many times have we heard this expression “It will only cost you your time”? Many of us make great decisions with our money, but poor decisions with our time. As entrepreneurs we are often the sales, marketing, production, shipping, receiving and accounting departments for our company. We may also be the switchboard operator, the delivery person, and the janitor. In order to survive, thrive, and grow, it is crucial that our best energies be used for the right activities. Have you placed a value on your time?
The value of our time is a personal and economic decision. For some of us that number may be $8/hour (or less) for others it may be $200/ hour (or more). If you put a price on every hour, your priorities will suddenly become clear.
If your time is worth $25/ hr, treat every 4 hour project as if it would cost you $100. If you had to pay $100 to do every 4 hour project – you would only choose projects that would generate revenue greater than $100 or those that are the most meaningful to you and your family.
Take a look at your calendar with this same mentality. Consider professional, volunteer, and personal activities. What activities would you eliminate because they are too expensive? What activities should you outsource? I suggest you take an hour or 2 to walk through this exercise. It will be well worth the 50 bucks.
Amanda Wodzenski is a regular blogger for the WSBA, and the owner of CRMastermind, a consulting company that specializes in CRM and e-mail marketing for Small Business. Visit her blog Your Small Biz Technocoach.
The value of our time is a personal and economic decision. For some of us that number may be $8/hour (or less) for others it may be $200/ hour (or more). If you put a price on every hour, your priorities will suddenly become clear.
If your time is worth $25/ hr, treat every 4 hour project as if it would cost you $100. If you had to pay $100 to do every 4 hour project – you would only choose projects that would generate revenue greater than $100 or those that are the most meaningful to you and your family.
Take a look at your calendar with this same mentality. Consider professional, volunteer, and personal activities. What activities would you eliminate because they are too expensive? What activities should you outsource? I suggest you take an hour or 2 to walk through this exercise. It will be well worth the 50 bucks.
Amanda Wodzenski is a regular blogger for the WSBA, and the owner of CRMastermind, a consulting company that specializes in CRM and e-mail marketing for Small Business. Visit her blog Your Small Biz Technocoach.
Tuesday, June 22, 2010
Set yourself up for success. How much Capital do you really need to get your business up and running?
A common mistake for many failed businesses is having insufficient operating funds. Entrepreneurs often underestimate how much money is needed and they are often forced to close shop before they even have a chance to be succesful. So how much capital do you really need to start your business?
Obviously each business is very different, and the start-up costs will vary, but the concepts are the same across the board. Here is some food for thought as you pull together or update your business plan. Most expenses can be broken down into these broad categories. When calculating labor and salaries, consider the cost of benefits.
• Technology Costs: Hardware, software, phone systems or cell phones, websites, internet access, security, and IT consulting.
• Administrative Costs: Business insurance, salaries, office supplies, licenses, permits, postage, rent, utilities, office furniture, professional fees and legal fees.
• Cost of Goods Sold: Raw Materials, Inventory, Labor, Equipment, shipping, and warehousing.
• Marketing Costs: Print collateral, PR, events, tradeshows, association memberships, salaries, sales travel.
Many companies differentiate between startup-costs, fixed expenses, and variable expenses. Start-up costs are one- time expenses associated with the start-up of the business. Fixed costs remain constant no matter what the sales volume is, while variable costs are a function of sales.
Once you have these categories and expenses detailed, you will need to determine how long it is going to take until you have enough sales to cover your operating costs. Be conservative in your estimates. It is common for business owners to underestimate expenses and overestimate sales. It takes many businesses months or even years, before they are fully able to cover the operating costs. Are you financially prepared for the long haul or do you need strategies to come up with additional capital?
Amanda Wodzenski is a regular blogger for the WSBA, and the owner of CRMastermind, a consulting company that specializes in CRM and e-mail marketing for Small Business. Visit her blog Your Small Biz Technocoach.
Obviously each business is very different, and the start-up costs will vary, but the concepts are the same across the board. Here is some food for thought as you pull together or update your business plan. Most expenses can be broken down into these broad categories. When calculating labor and salaries, consider the cost of benefits.
• Technology Costs: Hardware, software, phone systems or cell phones, websites, internet access, security, and IT consulting.
• Administrative Costs: Business insurance, salaries, office supplies, licenses, permits, postage, rent, utilities, office furniture, professional fees and legal fees.
• Cost of Goods Sold: Raw Materials, Inventory, Labor, Equipment, shipping, and warehousing.
• Marketing Costs: Print collateral, PR, events, tradeshows, association memberships, salaries, sales travel.
Many companies differentiate between startup-costs, fixed expenses, and variable expenses. Start-up costs are one- time expenses associated with the start-up of the business. Fixed costs remain constant no matter what the sales volume is, while variable costs are a function of sales.
Once you have these categories and expenses detailed, you will need to determine how long it is going to take until you have enough sales to cover your operating costs. Be conservative in your estimates. It is common for business owners to underestimate expenses and overestimate sales. It takes many businesses months or even years, before they are fully able to cover the operating costs. Are you financially prepared for the long haul or do you need strategies to come up with additional capital?
Amanda Wodzenski is a regular blogger for the WSBA, and the owner of CRMastermind, a consulting company that specializes in CRM and e-mail marketing for Small Business. Visit her blog Your Small Biz Technocoach.
Tuesday, June 15, 2010
Guest Blogging.......Part 2
Congratulations! You used the suggestions from last week to land your first guest blogging gig. Now What?
- Take time to review the blog and get a feel for the posts and the followers.
- Use your expertise to develop killer content that will be relevant to the followers. This is the time to showcase your best talents, passions, and knowledge, rather than explore new subject areas.
- Use graphics and visuals where appropriate.
- Include Links to your blog and your website. Beforehand, you will want to ensure that your website and blog are updated and ready for the onslaught of visitors.
- Promote the post ..... as you would your own blog.
- Be sure to comment on other's comments to keep the conversation going.
- Facebook and Twitter are two of the best places to announce guest blog posts.
- Include in your e-newsletter with a link.
- For a different twist - create a short video announcing your guest post - post it on your website, social media, and e-newsletters.
- Let your own blog followers know about your guest post.
Tuesday, June 8, 2010
Guest Blogging... Part 1
Guest Blogging is a Powerful Way to Gain Exposure for you, your business, your website, your blog and more...
The most obvious benefit of guest blogging is increased traffic to your site. Guest Blogging is when you post on a blog as a guest author. You do not need to have your own blog to be a guest blogger. Guest Blogging is a tried and tested way to generate inbound links and traffic. Let's take a minute to explore some of the benefits and then get you started on securing guest blogging opportunities.
Guest Blogging is Free. This may seem obvious, but guest blogging is one of the most effective free ways to promote your website.
SEO. Whenever you guest post on another blog, you usually get the courtesy of 1 or 2 links pointed back to your website. If you make these links keyword-rich, you can really start to improve your website’s search rankings over time.
Reach New Communities and Topic Hubs. Depending on where you choose to post, you will be able to step out of your comfort community and share your story with a wider audience.
So, now that you are convinced, the question becomes....How will you find a Popular Blogger who is willing to publish your post? Here are some ideas.
1. Start building your portfolio by contacting guest bloggers you already know.
2. Do google searches to find opportunities. Use key words such as "Become a contributor” or "Submit a guest post"
3. Use one of the match sites such as Bloggerlinkup or that will match guest bloggers with opportunities.
4. Do not ignore the small blogs Small blogs have fewer bloggers pitching thier guest post ideas. This means that your pitch will stand out more, and you will have a better probability of having your post approved.
Next week --we will cover how to get the most of your posting -- once you have found a blogger willing to publish you. With that said, the WSBA and Entreprenuerial Empowerment has current opportunities available for guest bloggers. Please Contact Linda Handley, Executive Director, Womens Small Business Association with your proposals.
Amanda Wodzenski is a regular blogger for the WSBA, and the owner of CRMastermind, a consulting company that specializes in CRM and e-mail marketing for Small Business. Visit her blog Your Small Biz Technocoach.
The most obvious benefit of guest blogging is increased traffic to your site. Guest Blogging is when you post on a blog as a guest author. You do not need to have your own blog to be a guest blogger. Guest Blogging is a tried and tested way to generate inbound links and traffic. Let's take a minute to explore some of the benefits and then get you started on securing guest blogging opportunities.
Guest Blogging is Free. This may seem obvious, but guest blogging is one of the most effective free ways to promote your website.
SEO. Whenever you guest post on another blog, you usually get the courtesy of 1 or 2 links pointed back to your website. If you make these links keyword-rich, you can really start to improve your website’s search rankings over time.
Reach New Communities and Topic Hubs. Depending on where you choose to post, you will be able to step out of your comfort community and share your story with a wider audience.
So, now that you are convinced, the question becomes....How will you find a Popular Blogger who is willing to publish your post? Here are some ideas.
1. Start building your portfolio by contacting guest bloggers you already know.
2. Do google searches to find opportunities. Use key words such as "Become a contributor” or "Submit a guest post"
3. Use one of the match sites such as Bloggerlinkup or that will match guest bloggers with opportunities.
4. Do not ignore the small blogs Small blogs have fewer bloggers pitching thier guest post ideas. This means that your pitch will stand out more, and you will have a better probability of having your post approved.
Next week --we will cover how to get the most of your posting -- once you have found a blogger willing to publish you. With that said, the WSBA and Entreprenuerial Empowerment has current opportunities available for guest bloggers. Please Contact Linda Handley, Executive Director, Womens Small Business Association with your proposals.
Amanda Wodzenski is a regular blogger for the WSBA, and the owner of CRMastermind, a consulting company that specializes in CRM and e-mail marketing for Small Business. Visit her blog Your Small Biz Technocoach.
Tuesday, June 1, 2010
Take the summer challenge: Strategies to Grow Your Business and Make the Most of Your Summer
It's the first week of June and panic slowly starts to set in. We are working hard to take our businesses to the next level, and we don't want to lose momentum just because it is summer. We need to challenge ourselves to work smarter in the summer months, keep the momentum strong, and enjoy the summer with our families. The challenge is to decrease hours spent and increase your profits at the same time.
Tips for Moms and Work-at-Home Moms
Summer is upon us and we still have the same amount of work, but children are now home. Here are some strategies to help you keep your sanity and thrive.
I look forward to hearing your strategies for success in the summer.
Amanda Wodzenski is a regular blogger for the WSBA, and the owner of CRMastermind, a consulting company that specializes in CRM and e-mail marketing for Small Business. Visit her blog Your Small Biz Technocoach.
- Really take a good look at your regular tasks and activities with the plan to eliminate. Scrutinize your task list and eliminate all activities that are not contributing to growth or profits.
- Only after you have elimated -- look to automate as much as possible.
- Hire a Virtual Assistant - summer is a great time to try a virtual assistant - even just a few hours a week can make a difference.
- Make Yourself portable - having both a laptop and a smartphone can tremendously increase your productivity and allow you to travel more.
- Get up 1-2 hours earlier - Use this uninterrupted time to get a jumpstart on your day. It is often possible to accomplish 2-3 times the work in these early hours
- Take and enjoy a much need non-working vacation.
Tips for Moms and Work-at-Home Moms
Summer is upon us and we still have the same amount of work, but children are now home. Here are some strategies to help you keep your sanity and thrive.
- Take advantage of youth summer programming for several weeks. Even half day programs can provide much needed blocks of time for working.
- Take your children to the library, park, pool, beach etc. Use your smartphone and laptop to work while they play. You can also use these opportunities to meet new people and network your business.
- Plan several activities throughout the summer - this will act as a forcing mechanism for you to have your work complete and your children will have these times to look forward to.
- Don't try to do it all. It is even more critical for moms to consider virtual assistants, childcare providers, and household help.
- Give older children additional chores in the summer - be sure to start this very first week.
I look forward to hearing your strategies for success in the summer.
Amanda Wodzenski is a regular blogger for the WSBA, and the owner of CRMastermind, a consulting company that specializes in CRM and e-mail marketing for Small Business. Visit her blog Your Small Biz Technocoach.
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