|
|
7 Things You Can Do To Weather The Lows Of A Business Cycle
Hey, as hard as this may be for you to swallow, business online is no different than a business on Main Street in your home town or city. We have good times and we have slow times. It is quite obvious what we do when our eBusinesses are...
ARE YOU USING ALL 7 OF THESE HIGHLY EFFECTIVE MARKETING TACTICS?
Here are 7 well known, highly effective marketing tactics many small business owners overlook when developing their marketing program. How many have you overlooked? 1. BE UNIQUE The best way to beat your competition is to promote a distinct...
Keeping your Business Alive
As long as you eat and breathe you will stay alive. But is that really living? In a crisis that may be enough. If your business is in crisis - deal with it. But the secret to keeping your business alive is growth.
That is the litmus test of...
Network Marketing Training Success- Tapping into the MLM Success Power of Your Upline
Network Marketing Training- Tapping into the MLM Success Power of your Upline
by Doug Firebaugh
What is an upline in MLM and Network Marketing?
It is the “Line of folks above you” that are there to help you in your quest for MLM...
Part 3 - Five Ideal Networking Tips
Five more tips on how to create the ideal network
This is the third article in a series of tips to help you put the foundation in place that can best support you and your dreams and goals. It’s all about the quality of people that you know and...
|
|
|
|
|
|
|
|
How did you hear about us?
One of the best things you can do for your business is to ask new customers how they found out about you. But when you do this, don’t expect to get accurate information.
I know this sounds strange, but it makes sense, I promise.
If you make decisions about how to promote your business, then obviously you want to know how your customers find out about your business. So, you ask. The trouble is the information you get when you ask this questions is not always accurate. In fact it’s mostly inaccurate. My estimate is that it's about 25% accurate at best.
There are two reasons for this.
One reason is that people simply do not remember. People don’t remember because they have other, more important, things to occupy their mental space. Your business and your marketing are not tops on their list of priorities. (Sorry!)
But, they want to give you an answer (because you asked) so they say some thing makes sense. “I saw your ad in the yellow pages” they might say. Or “I think I found you in the phone book”. I know because I do the same thing. It’s not that we’re dishonest. We just want to be helpful.
A friend of mine told me about a survey they did once for an event they helped promote. They asked people how they found out about the event and over half of them said they heard about it on the radio. On the surface this sounded like great marketing feedback.
But there was one problem.
They never promoted this event on the radio.
People said “I heard about it on the radio” because they wanted to be helpful and because they listened to the radio a lot. So, it made sense (to them) that they probably heard about the event on the radio.
The second reason this sort of feedback is usually not accurate is because people hear about your business in many ways.
Remember, if you’re doing your marketing well you are probably using more than one media to deliver your message to your market. Depending on your budget and market you might be using five or more different ways to let people know who you are and what you do.
It’s not hard to find five or more ways to promote your local business:
*On site signage *Yellow pages *Bus bench *Newspaper ad *Direct mail piece *Coupon shopper *Newspaper insert *Networking *TV *Radio *Local sponsorships
And this is good because it builds both awareness and credibility for your local business. (Remember, the more ways a person hears about your business, the more credible and memorable your message becomes to them.)
The trouble is, people are not going to remember (or tell you) they saw it in all these different places. They’ll give you the name of one place they saw your ad. (Usually the most recent place they saw it.)
So, we have a marketing paradox.
To get the best results you want your message to be seen by people in multiple ways. But, that makes it impossible to determine (with any accuracy) which media is working best. And you want to know what media works best so you can make the best use of your marketing dollars.
What do we do about this?
It would be nice if a complete answer to this question would fit in the next few paragraphs.
But it won’t. A complete answer covers a lot of ground that I have been writing about for the past six months. And it depends on a lot of factors like your business, your budget, your marketing goals, etc.
It also depends on how important tracking marketing ROI is to your business.
One of the big obstacles to tracking results is scale. As a small, local business, if you went to the expense of trying to survey and track every type of marketing available to your business, you’d spend much more on tracking and surveying than you would on the marketing itself.
If you have a multi-million dollar marketing budget then you can afford to do some serious testing. Once your testing shows you reasonable results, then you roll out the big campaigns on a larger scale. But that only works because your testing costs are a tiny fraction of your whole marketing plan.
But, for those of us with small, local businesses, this method simply does not work. The testing would eat up most (or all) of our marketing budgets.
However there are some things you can do to try to monitor what is working. Over the next few months I will be writing in more detail about these. (We don’t have room here in one article to cover them properly.)
In the meantime, here are some tips to make your local marketing work better and to help you monitor it.
1. Establish a budget and commit to it. Consider this as important as your rent or payroll. Don’t make it a low priority unless your revenue and profitability are low priorities. 2. Decide what you want to say and whom you want to say it to. Keep the message simple, clear and concise. 3. Decide if you want to increase awareness for your brand or if you want a direct response. These are two DIFFERENT goals and they require different tools and strategies. 4. Remember your goal is EXPOSURE. You want to expose your market to your message as often as you can within your established budget. So spend your marketing dollars to buy this exposure as effectively as you can. 5. Stick to it for a reasonable amount of time. Don’t quit after a couple months. Give it time to work. 6. Get feedback from customers, friends, business associates, employees. Try to find out WHO is seeing your message and HOW they are seeing it. Always be willing to tweak and tune it as you go, based on feedback. 7. Watch your revenue and your new customer activity. Does it go up or down as you implement this marketing?
Remember, they key to getting more customers is to let more people know who you are, what you can do for them and why they should consider doing business with you. Focus your resources on making sure your potential customers know you and remember you. Then they will consider doing business with you.
If you focus too much on tracking, you can end up wasting time and money on efforts do not build your business.
About the Author
Kevin Stirtz is the president of Coffee News Twin Cities LLC, a national trainer and mentor for Coffee News USA and an online marketing blogger/columnist for AllBusiness.com where he writes "Better Local Marketing." He can be reached at www.BetterLocalMarketing.com.
|
|
|
|
|
When You Know How | Network Marketing Works! |
Your guide to tips, resources, opportunities. Get your Free CD the Science of Network Marketing. We can show you how to make it work for you. |
www.network-marketing-works.com |
  |
Marketing, business - Is Network Marketing Just a Scam? |
Marketing, business - Is Network Marketing Just a Scam? - Entrepreneur.com. |
www.entrepreneur.com |
  |
Business Opportunities: MLM, Network Marketing, Work at Home |
Listing of Business Opportunities: MLM, Network Marketing, Mail Order, Kiosks and more. |
www.entrepreneur.com |
  |
Multi-level marketing - Wikipedia, the free encyclopedia |
Multi-level marketing (MLM) (also called network marketing or NM) is a business ... In a typical multi-level marketing or network marketing arrangement, ... |
en.wikipedia.org |
  |
List of network marketing companies - Wikipedia, the free encyclopedia |
Jump to: navigation, search. This is a list of companies which utilize network marketing, also known as multi-level marketing. ... |
en.wikipedia.org |
  |
MLM - Network Marketing Business Journal |
MLM industry journal is the oldest, largest MLM newspaper for the newest network marketing, direct sales, homebased income opportunities and articles. |
www.mmmonthly.com |
  |
The Real Problem with Network Marketing and Multi-Level Marketing ... |
It never ceases to amaze me the extreme polar views on the topic of network marketing and MLM. Some people are passionate about it in the extreme, ... |
entrepreneurs.about.com |
  |
Network Marketing News ONLINE - Home |
Network Marketing and MLM Tools, Training, and Information - your online resource. Business Opportunity. Free fax-on demand. Free autoresponders. |
www.networkmarketingnews.com |
  |
MLM Woman Newsletter - The Complete MLM/Network Marketing Resource ... |
MLM Woman Newsletter - The complete resource on the Internet for the MLM Woman and Man. |
www.mlmwoman.com |
  |
Site Build It! - Network Marketing |
Site Build It! is the only all-in-one site-building, site-hosting, AND site-marketing system of software tools for Network Marketers (MLM). |
networkmarketing.sitesell.com |
  |
Amazon.com: Your First Year in Network Marketing: Overcome Your ... |
Amazon.com: Your First Year in Network Marketing: Overcome Your Fears, Experience Success, and Achieve Your Dreams!: Books: Mark Yarnell,Rene Reid Yarnell ... |
www.amazon.com |
  |
Home based buisness ideas, MLM and Network Marketing Business ... |
Home based business ideas. Best home business and home based business ideas.Spiritual marketing your home based business ideas. Namaste. |
www.mlmforums.com |
  |
Network Marketing: Home |
Special Offer. >> Home. News / Events. 15.08.06: APPOINTMENT OF GREG GUTHRIE. © Copyright Network Marketing 2002, |, Terms of Use, |, Privacy Policy ... |
www.networkmarketing.com.au |
  |
Specialists in marketing and creative recruitment both agencies ... |
One of the UK's leading marketing recruitment consultancies. Specialists in marketing and creative recruitment both for agencies and clients on a temporary ... |
www.networkmarketingjobs.com |
  |
Network Marketing Success Now |
Tips and resources to help you build a successful network marketing business online... |
nmsnow.com |
  |
MLM Network Marketing Resources by Online MLM .com |
Directory of network marketing and direct sales companies. |
www.onlinemlm.com |
  |
MLM Network Marketing training Randy Gage |
MLM Network Marketing training resources by Randy Gage and other leading MLM industry experts give business building secrets for success in your home ... |
www.networkmarketingtimes.com |
  |
multi-level marketing |
multi-level marketing (a.k.a. network marketing & referral marketing) ... EVALUATIONS of MLM or Network Marketing Companies, Based on the "5 Red Flags" of a ... |
skepdic.com |
  |
Network Marketing |
Network Marketing as the basis of a home based business. |
www.homeworking.com |
  |
Network Marketing Support Services |
Offers resources for the MLM professional. |
www.mlmhelp.com |
  |
|