Leads are the lifeblood of any small business. Here’s how to get the best ones.
Travel In the Right Circles
It is very important to conduct thorough research on your target audience before you set out to hook them.
If you travel in the right circles and communicate with the people that are related to your business, you have a better chance of picking up some quality tips that can prove to be useful in generating leads.
Podcasting is a recent phenomenon. It's so recent, in fact, that the word itself was only coined in 2004! Now, it gets searched millions of times each month.
Podcasting is a combination of the words "iPod" and "broadcasting" (but it doesn't actually require an iPod to hear). In fact, you can hear it on your computer, on some cell phones, and on any mp3 player. Think of it as a free subscription to a specialty audio magazine.
A new trend in advertising can be seen on sidewalks across the Bay area.
People stand for hours holding signs, trying to encourage drivers to stop for a minute and spend some of their cash.
If not, it's time to get a better handle on your advertising's ROI. After all, why waste money buying advertising that isn't working?
You need to look at two things: which specific ads bring in customers, and which advertising media results in new business. An ad placed in a weekly shopper-type publication may draw new business week after week, while the same ad place in a local, tabloid-format newspaper may not attract any new customers. Or, vice versa.
You can find out which ads and media are producing customers by tracking responses to your ads.
One common way to track ads is to code coupons so you know what publication or mailing they came from. For instance, if you're running a 15%-off coupon in several local publications, change the ad slightly for each publication by including the initials of the publication or some other identifying information in very small print just inside the coupon dotted line. Be sure you or your employees collect the coupons; at the end of the promotion, tally them up to see which local publication produced the most new customers.
If you discover a significant difference in response, then consider dropping the publication with the lowest response rate and substituting another in its place.
If customers call your business rather than sending in coupons, you can track advertising results by telling people to call special extension numbers or to ask for a specific individual. For instance, your radio ad might say, "Call Jack for details." Your print ad, however, might say to call and ask for extension 25. The person who answers your phone should keep a list of all incoming calls, noting which extension or name was requested.
You can track pay-per-click advertising, too. Most pay-per-click ad networks let you include a tracking code on the end of each ad you write. (You put a slash at the end of the URL, and following the slash, enter the tracking code.)
Still, if you search long enough, there are nuggets worth considering.
MORE EFFECTIVE ADS Writing on the Web site of Peak Consulting, which specializes in statistical analysis and economic forecasting, Bob Leduc suggests a three-part approach to increasing your advertising’s impact.
First, he said: “Always include a powerful offer in your advertising. Offer free information related to your product or service to generate inquiries or Web site traffic. Then, make the most compelling discount or bonus offer you can afford to convert these inquiring prospects into paying customers.”
To convert these prospects, he said you should do everything you can to capture the contact information of the people who respond to your ads and follow up with them, since “most prospects won’t buy the first time they hear or see your sales message.”
Finally, he suggested, “Remove the obstacle of risk.” The major reason why people don’t buy something they want or need, he says, is that they do not want to take the chance of getting something different than they expect and maybe even losing money. “You can eliminate this risk by guaranteeing satisfaction,” he said. “If you sell products, offer a liberal money back guarantee. If you provide a service, offer to continue working without additional charge until the promised result is achieved.”
CUSTOMERS AS SALESPEOPLE Word of mouth is a great way to goose sales. But you don’t have to sit back and wait for people to spread the word about how wonderful you are, argues James Yuille, a marketer.
“Make your customers get excited about your business and they will tell their friends,” he said. “Send them ‘thank you’ letters or cards after they buy. Give them a free vacation certificate, a coupon, etc. when they refer others to you.”
ASK FOR THE ORDER Many entrepreneurs have a hard time asking for the order — saying to the customer words to the effect of, “Should I write up the sale now?”
Duane Marx, writing on Relationship Marketing.com, recommends that you a) not have that reluctance and, b) certainly don’t build it into your Web site, if you are selling products there.
“Have a few places where your prospects can order your products,” Mr. Marx said. “You always want to make it easy for them to buy. By having more order links on your sales page. they’ll be able to buy whenever the urge strikes them.” .
CHARGE MORE One “easy” way to increase revenue is by charging more.
If you think you can’t raise your prices in this economy, think again, suggests Charlie Cook at Marketing for Succcess.com.
That is especially true if what you are basically selling is your time.
“Most service professionals think that they’re already charging as much as they can, because prospects and clients often balk at their existing prices,” he wrote. “But nine times out of 10 when prospects complain about price, it’s not the total cost that’s the problem. The problem is that the price is presented out of context, so prospects don’t understand the value of your services. Without understanding the value you provide, a very reasonable price is going to seem high and become a barrier to sales.”
LAST CALL Words matter, especially when it comes to selling. For a humorous example of things not being exactly what they seem, visit Workjoke.com where they point out what salespeople really mean when they use a specific term.
Here are some of our favorites, quoted verbatim:
For those without a marketing bone in their bodies, the task might sound daunting, but the payoff from doing the primary research yourself can save you money, and the results are instantaneous.
If, for instance, you are considering introducing new products or services, a sure way to fail is to do so without determining whether there’s an actual need or desire for your new product. That’s basic business. So an easy, cost-efficient method of research is to simply talk to your existing clients as well as potential customers to measure their interest.
This may mean telephoning people you don’t know very well, a challenge for nonsales types; but by polling these clients about whether they want or will use the proposed product or service, you’ll have instant market information from a particular user group on how its members feel about your idea. Their feedback will help you determine which direction to go with it. Talking to customers also works well for businesses owners who are trying to determine their company’s position in the market.
If you do decide to do this yourself, there are a few things to keep in mind. The person from your business who is conducting the interviews or leading the conversation must listen to what people are saying. Remember, you asked for their opinion, and whether they are critical of or excited about your new product, you need to pay attention to what they are saying. Maintain a certain cheerfulness and professional tone even in the face of criticism. Clients often have good ideas, but you must listen with an open mind.
Whenever you poll, you are bound to encounter people who do not want to answer your questions, but those who do respond can offer helpful information about the market and the perception of your product or service. With that information, you can redevelop sales material or pick a new tact for how to go after the market.
Testing the market directly with your product is another way to gauge whether your idea makes sense. For instance, a personal trainer who produced a weight-training video thought marketing his program in sports stores was a good idea, but a limited budget meant he needed to be sure before launching into a major distribution program. He found an expert, although he could have easily done it himself, to seek out a few key stores that would allow interviews with customers about whether they would buy his product. Sports stores, it turns out, weren’t a good fit, so he went another route, avoiding a costly in-store sales effort.
If you are trying to expand into the Midwest, call 50 stores in the Midwest and see if they want your product.
Sometimes the marketing objective is more complex than getting a product into a store, but personal research can help in these situations, too. For instance, when a small plastics company that manufactured a recycled edging and irrigation product wanted to open up in markets across the country, its owners decided to analyze the green architecture industry. Through their research, the company recognized industry trends that provided insight in deciding intelligently where and when to expand.
The bottom line: Don’t let a lack of budget hamstring you when it comes to market research. Be creative and self-sufficient about using the resources at your fingertips, such as clients and customers who are familiar with your goods and services. Then you’ll be on your way toward a smart marketing reconnaissance plan than can help you grow your business.
Source: http://www.allbusiness.com/marketing-advertising/market-research-analysis-market/11790821-1.html
The masses should be arriving any moment now.
Well, don't hold your breath. As of April 2007, there are now more than 113,658,000 sites on the Internet! Google crossed the 8 billion pages indexed level in 2005. The masses aren't coming because they can't find you.
You need to market your website and market continously. This page contains numerous methods for marketing a website. You need to discover the methods that work best for you.
Although commonly overlooked and discounted by most individuals and businesses, e-mail is the most effective and cost efficient way to drive traffic to a website.
E-mail Address - First and foremeost, your e-mail address should include your product, industry, or company name. Personal names and intials are for personal e-mail from friends and family.
Signature Files - Configure your e-mail software to use a signature file or tagline. Create a 4-5 line ad for your site which gets attention, gives a reason to visit and provides the web address.
Mailing Lists - Locate and join 1-2 two large e-mail discussion lists that your target market also subscribes to. You can locate lists at CataList.
Autoresponders - Automate customer inqueries. Use autoresponders to instantly mail out catalogs, price lists, sales materials to visitors.
Bulk E-mail - Use your customer database to email all your customers with email addresses monthly. Products like Campaign make the process easy. Check with your e-mail service first as they may have a policy or limitations against bulk e-mail.
In addition to e-mail, there are several web marketing techniques that are highly effective. While time consuming, take the time to register with search engines and develop recipricol links.
Content - Put some real content on your site. Most commercial sites are "brochureware." Give visitors value-added information and lots of it! They'll come back and refer their friends.
Meta Tags - Ensure that all webpages include two tags and a descriptive
