Ways to do more business

Nov 09, 11 Ways to do more business

Posted by in Business And Finance

Every businessman aspires for more business. It is an accepted fact. But how many people make use of all the opportunities available to them that will bring additional business? While looking for additional business one must focus on getting ‘second sales.’ But what you mean by ‘second sales’? The term simply means add-on sales, sales by referral or repeat sales. They are important for more business simply because you can get them with lesser expenses than first sales, since you don’t have to spend time and energy for getting first sales. The money not spent on this goes straight into your profit. But the firms making profit on first sales can be counted on finger tips. Many firms do not realise that costs incurred on first-time sales are much higher than those on second sales. You get advantage of eliminating costs of getting customer repeatedly to your door for purchase of items. This saving adds to ‘bottom line’. ADD-ONS take place when a customer buys more than one item in one visit. It could also be a case where a customer who had planned to buy a $15.00 item buys $20.00 item instead; extra $5 of purchase is add-on. REPEAT SALE, in other words winning customer loyalty, is what every business aspires for. But it is very often not vigorously pursued by the businesses. Opportunities to create repeat sales and add-ons are normally overlooked. These opportunities mean the new ways to sell new products or services to old customers and selling old products or services to new customers. Repeat customers are an indicator that firm is right on top of their minds for good quality, service and value. Such customers are very often a great source of referrals. REFERRALS are very much essential for more business and are equally profitable. They offset expenses on marketing and add to profit. When customers are highly satisfied with product, salesperson or firm they start talking to others with confidence about these things at the first opportunity. Their...

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Get a competitive edge on the web and beyond by advertising in Digital Media

Nov 09, 11 Get a competitive edge on the web and beyond by advertising in Digital Media

Posted by in Internet Marketing

If you really want to reach potential clients and customers, then being an entrepreneur, you have to adopt or adapt to newer methods of advertising. Nowadays, digital media advertising has become the new trend for any experienced or fresh entrepreneur. It is not difficult for customers to find your services anymore. Ringtones, podcast, digital portfolio or an online video portfolio are some of the popular ways through which customers can find your services easily. The top trends in digital media advertising (DMA) used by many entrepreneurs are: Media Rich Websites Many businesses are setting up online commercials, videos for MySpace and YouTube as digital media is easy to operate, capture and work with. You have to implement Web 2.0 in order to have online collaboration and communication 24 hours a day. You will miss out on potential sales if you do not have any downloadable samples of your products. For example, a recording academy in New York have increased the traffic on their newly deployed media-rich website by 400 percent within 60 days, as they had come up with a new way to stream video education and educational audio tutorials. By doing this, the recording academy has increased their sales by more than 75 percent as by closing new deals and contracts. Each week, each page received hundreds of new hits by putting simple online videos in their newsletters. The main aim was to let the subscribers know that the podcast library was no longer available. Social networking sites provide news and networking for all ages. They have become popular as all the digital media methods and types work with them. If digital media interactivity is not provided by your company’s website then you may lose popularity very quickly. You should always outsource your job to a production facility if you cannot make your videos look professional. The files should be created with different compression rates for a number of digital video players in order to match user download speeds and mediums. Digital Portfolio...

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How to make your small business grow with intelligent marketing

Nov 09, 11 How to make your small business grow with intelligent marketing

Posted by in Business And Finance

Small businesses can survive and grow if they follow an intelligent marketing strategy. Many new entrants in the business make the mistake of copying competitor’s techniques or hire people who know less about marketing and the products they are entrusted to sell. Investing heavily on advertisement of products or services does not mean good marketing. Different aspects of marketing strategy and approach must be understood clearly before launching any business. Following tips can help in evolving a sound approach on marketing which can lead to the success of a business in the long run. Create a powerful slogan Develop a powerful slogan which highlights uniqueness of your product or service. Making an authentic and shocking claim about some features of the product sends a strong message to the customer and persuades him/her to buy your product or service. A pizza company had once guaranteed customers to supply hot pizza within thirty minutes failing which it will be given free. The company made history with the sale. Unless customers know what makes you different from others, you can not become their preferred supplier. Provide excellent service A good weapon of marketing is service. Service and sales go hand in hand. By cross-selling a product, you save the customer’s valuable time and free him from hassles of searching the product elsewhere. Customers always seek guidance and go by your recommendations. A good marketing approach is to provide them such help voluntarily and win their loyalty. Develop a long lasting bond Develop a powerful bond with the customers. Ask them to visit again. Get their contact details and try to be in touch. This powerful approach which makes recall of the customer can be a handy tool for the small business to increase sales. Keep in touch Customer data should not be allowed to remain unused. Send birthday greetings, thank you notes and seasons’ greetings to the customers and be in constant touch. Create opportunities such as Customer Day or special discount offers with some deadline of...

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First impression is the last impression – let your business card speak for you

Nov 09, 11 First impression is the last impression – let your business card speak for you

Posted by in Business And Finance

In your search for a potential client, it is your business card that the client, most often, sees even before meeting you or calling for a meeting. An impressive business card communicates much about you and your company. A business card must reflect the character and personality of you and your business. It should be professionally crafted and eye-catching. The design and print of your business card should speak for you. Below are few things that you should keep in mind while getting a business card: A business card should reflect the nature of your business and communicate what your business can offer to the clients. The design of the business card should be eye-catching to an extent that it remains on top client’s mind. Business card should convey the important features of your services or products and what they stand for. Your card should communicate to the client how important the client is for your business. You can search good designs for cards on websites that have thousands of readymade templates. These templates are produced by professional graphic designers and you can customize them easily. If you plan to design a business card yourself, convert it to CMYK color which is the only color system used in digital or offset printing. Before uploading a digital design, get a proof copy for verification and approval. The printing should be allowed only after necessary corrections and modifications, if any. If you happen to get a hard copy for proof reading, check for the contrast and sharpness of print and ensure that the colors are vibrant. The paper should be of good quality and brand. UV – coated material provides vibrant gloss and a laminated feel. You should protect your visiting or business card with a coating popularly known as the UV-finish. The UV-finish coating will make your business card water resistant. The coating will also prevent your business card from fading due to sunlight. Do not compromise on the image quality. You should only use...

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Things small business owners must avoid in marketing

Nov 09, 11 Things small business owners must avoid in marketing

Posted by in Business And Finance

Mistakes in marketing can prove to be quite damaging for a small business. Entrepreneurs who do not follow certain marketing practices end up closing the business much faster. Marketing is the lifeline of any business. It is important for the entrepreneur to know what must be avoided in marketing, to prevent any failures: 1.    Most often, a customer is burdened with lots of details about the product or service instead of highlighting how the customers would benefit from its purchase. An intelligently drafted marketing message attracts the customer’s attention much more compared to hundreds of words that describe the product or service. For sending the right marketing message, identify your customer’s expectations. Explain how your product or service meets all those expectations. Add to that the uniqueness of your product which makes it different from others and satisfies customer’s needs. 2.    Do not put your marketing efforts without providing a system for measurement of their effectiveness. Marketing is an investment which must give better returns. Whatever you spend on advertisement, promotion of product and your sales force must be accounted and tracked for returns. This measurement will help you to evaluate whether the marketing efforts have been successful or have become a non-value adding activity of your business. The measurement may be in terms of sales value, number of new as well as lost customers. If the product is good, loss of customers can only be due to bad marketing. 3.    Do not thrust your products on the customer, instead educate your customer about the product and service and highlight the benefits of buying it. You can offer free CDs, video cassettes and bulletins in exchange of their contact details and referrals. By educating the customers while marketing, you can win back many customers from competitors’ camp. 4.    Do not miss any opportunities to get in touch with your customer after the first sale. Keeping in touch with the customers develops their trust and ultimately helps in the growth of your business. Avoid underestimating...

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