Categories
Sales & Marketing

3 Tips to Getting Your 2014 Marketing Plan Together

2014-marketing-goals

It’s that time of year to make sure your marketing plan is all ready to go – just in time to kick off the sparkling New Year that’s right around the corner.

But how do you get a marketing plan together that will actually get you the results you’re looking for? Here are 3 tips to get you started:

1. Start with the end in mind. Make sure you figure out specific and REALISTIC goals. While I’m all for having a hit-it-out-of-the-park goal (like building your list to 10K when you have 500 on it right now), you should also have a goal that’s doable AND will make you happy if you reach it.

Knowing your goals will help guide where you need to put your focus. And I would pick no more than 3-5 top ones to get done in 2014 (plus some secondary strategies to round out your calendar). So, for instance, maybe you want to build your list, launch a high-end group mastermind program and get your book done as your main goals. And maybe as part of your high-end group program launch, you also have a smaller launch as a lead in.

So now you have 3 big rocks you can get into your calendar — a product launch, a high-end group launch and a book launch. Plus you have list-building activities that need to happen regularly. Once you’ve plugged those in, now you need to make sure you have both long-term and short-term marketing covered (which is #2).

2. Do you have a balance between long-term and short-term marketing activities? Long-term are tactics like building your list and nurturing your list (for instance sending a regular ezine). Short-term are tactics like having a sale or a launch that bring money in the door right now.

Successful businesses have a balance of both throughout the year — the long-term that will lead to a healthy business with a regular stream of leads and clients and short-term for cash flow.

So now that you have your big rocks, do you see holes in either your short-term or long-term? Do you have your cash-flow covered from month-to-month? Do you have your list-building and list-nurturing activities in there? Now is the time to adjust accordingly.

3. Are the marketing activities you’ve committed to things you enjoy? My personal feeling is the reason why entrepreneurs fail when it comes to marketing is they focus their efforts on what they feel like they SHOULD be doing, rather than what they LOVE doing. There are so many ways to market yourself — videos, podcasts, writing blogs, connecting on social networking, etc. — that I guarantee there is SOMETHING you enjoy doing. So figure out what that is and do that activity. Don’t worry about the rest. Get one thing done and get it done right, and the rest will fall into place.

(If you want some help with this, my “Internet Marketing Success Story” includes an assessment to help you figure out which marketing activity is perfect for you. You can learn more here: http://www.InternetSuccessStory.com)

Now, once you’ve figured out what you love doing, don’t forget to actually build those activities into your plan. Because it doesn’t matter how great of a plan you’ve put together, if you don’t actually implement anything in the New Year, you’re not going to get the results you’re looking for.

Categories
Entrepreneurs

4 Hot Ways To Market Yourself in 2014

year-2014

As you sit down to plan your 2014 marketing calendar, you may be wondering where you should be focusing your marketing efforts to get the biggest bang for your buck.

Well, let me share with you the (currently) 4 HOT “parties” you most definitely want to dress up in your sexiest little number and be seen at!

(Note — like a lot of “In” things, these parties could definitely change to “not-so-hot” overnight. However, even if that happens, you’ll still be able to reap the benefits now; plus, what you create to take advantage of these platforms could be tweaked and reused for the next new hot party.)

1. Facebook. Unless your business caters to teenagers (who now prefer Twitter) Facebook is the place to be. And Facebook ads are also quite hot right now, so it’s not only about having a presence on Facebook – it’s also about investing in Facebook ads. This could prove to be a very smart business decision.

If this intrigues you, the first thing you need to do is get a Facebook business page up and running. It’s a lot cheaper to send ads to your Facebook business page, and from your business page you send people to your opt in page or website.

But ads aren’t the only way to go. Make sure you’re also on Facebook and engaging with your ideal clients on a personal and professional level.

2. Amazon/Kindle. Kindle is really hot right now. Millions of people are on Kindle every day searching for information, but that’s not even the best part. These are actual BUYERS — they’re not searching for free things. They’re looking to purchase a Kindle book to solve what’s keeping them up at night.

Another fact is people who buy and read books are also more likely to buy higher-priced products and programs. While it’s true if you publish a book, it’s a great deal of work to sell it (especially when you consider the very small profit margins) if you have a strong back end of higher-priced products, programs and services, taking the time to write and promote your book can be a huge win-win for you.

3. iTunes. Long time ago, podcasts were hot. Then they weren’t anymore. But even when the “podcasts are dead” belief was at its highest, I kept running into folks who loved their podcasts and listened to them religiously, so I thought maybe it depended on the market. But now we’re full circle and podcasts are hot again.

Podcasts are hot because iTunes is hot. Supposedly, there are a billion accounts on iTunes that have a credit card attached to them. And the reason iTunes has a whole bunch of accounts is because they give people what they want — the ability to buy one song at a time, the ability to download podcasts so you can listen to them when you’re driving, when you’re exercising, etc.

Even though only a small portion of the population are true auditory learners (15 percent) people love the convenience of audio. You can listen and do other things, and that’s what people love about it.

You can also use iTunes to promote videos and digital content (and who knows, Amazon may follow suit and offer podcasts as well one of these days). Plus, both iTunes and Amazon have programs to help promote your books and podcasts.

4. Video. Video hasn’t lost its sex appeal yet! I think a big part is people feel like they know you faster when they see you on video (and your ideal prospects need to feel like they know, like and trust you before they become your buyers). Listening to you on audio also speeds up the getting to know you vibe (again, another reason to consider podcasts — especially since you don’t have to worry about hair and makeup!)

Video is also versatile — you can use video on Facebook, in blogs, to help people find you on the search engines, on your site, as part of your sales funnel, etc. And if you do a Google Hangout, that turns into a video.

Now, before you decide you need to do ALL of these in 2014 (especially if you don’t have a team to support you) — take a deep breath. The point of this article isn’t to make you spin around in circles or feel guilty you can’t be at all 4 hot parties at once, but instead, it’s to give you choices.

I want you to decide which one — and I do mean ONE — feels the best to you. Which one appeals to you more? Do you love the social networking aspect of Facebook? Getting on a mic and gabbing for an hour? Writing short Kindle books? Getting all gussied up and connecting on camera?

Whichever one it is, start with that one. THEN you can move to mastering the others. The only exception is videos (and maybe Facebook ads), where you may want to use videos to support any of the other 3 platforms (but this isn’t about you mastering video, it’s about you using a few videos to support what you’re doing first.)

Categories
Business Trends

Charitable Giving Can be a Valuable Business Tool

charitable_giving

Many businesses look at charitable donations as little more than a tax deduction. However, there are many good reasons for a company to give a portion of its hard-earned profits to deserving nonprofit organizations among them are establishing good will, enhancing its image in the community, maintaining customer loyalty and even pumping up sales.

More than Money

You’re running a business, and you feel like you should be giving back to your community. Your first move should be to determine exactly what you are able to do to help a charity. It doesn’t have to be all about writing a check every now and then. There are other ways you can pitch in and lend a hand.

  • You and your employees can volunteer at nonprofit events.
  • You can sponsor an event for charitable organizations.
  • You can donate your products or services.
  • You can donate a percentage of your profits on a specific day. For example, if you are running a restaurant, you can give 10 percent of your gross sales on a particular day or even regularly, such as the first of each month.

A Good Match

Unless your business has the resources of Wells Fargo or Walmart, the two companies that gave the most to charity in 2012, according to the Chronicle of Philanthropy, you’ll have to decide which nonprofit organizations are most deserving of your attention.

Here are some things to consider:

  • It’s probably a good idea to connect with a nonprofit that relates to your business. For instance, if you sell or manufacture ladies’ clothing, an organization that raises money to fight breast cancer might be a good match.
  • If your customers are mostly local residents, a local charity might be a good fit. If you sell your products or services nationally, you might be better off giving to a nationwide organization such as the American Heart Association or the American Diabetes Association.
  • You might want to donate to an organization that is personally meaningful to you or one of your employees. For example, if a relative of yours died of cancer, you might choose the American Cancer Society.
  • Your employees will feel a whole lot better about helping out if you give them a voice in deciding which organization you will donate to and how big a role your company will play.

Check it Out

You should do some research before you decide which charities are the best match for your company. You can find out a lot of what you need to know on the internet.

For instance, determine which charities earn top grades in various areas:

  • Finances
  • Transparency
  • Results for serving the people they claim to serve.

Of course, you also can find out which charities do not perform well and which ones spend more on administration and marketing than they do serving their core purpose. You might want to stay away from these.

Keep Them Informed

It’s also an excellent idea to let your customers play a role in your charitable endeavor. After all, if they know what you’re doing to help those who need your help, they’ll probably be inclined to send some business your way — especially if they support the same charity.

Here are some things you can do to get your customers involved:

  • Let your customers know about your activities by highlighting what you are doing on your website, on your Facebook page, through Twitter and in your newspaper, magazine advertising and direct mail pieces.
  • Encourage your customers to volunteer with your employees on a specific day.
  • Keep your customers updated on events you are sponsoring.

Don’t Shun Publicity

We realize that your major motivation for making charitable donations is to do the right thing. Nevertheless, you shouldn’t pass up the opportunity to publicize your efforts.

  • Contact local media outlets and send them a press release, with photos, when you donate goods or services to a charity.
  • Highlight your activities in your print, radio and TV advertising, and see if the charitable organization will mention your company when it sends out its own promotional materials.
  • Publicize your connection to the charitable organization by displaying brochures in your store or office and encouraging your employees to wear pins or buttons highlighting the organization. You also can offer special deals to people who work for or with the charity.
  • If you attend the charitable organization’s meetings and events, you might be able to make new contacts with people who support the same cause. This in turn could lead to new business for you.

Donating goods, services or cash to a charitable organization is a great way for a company to feel good about giving back to the community. But it also can serve as an excellent method of adding to the business’ bottom line.

Myrna Vaca is the Head of Marketing and Communications at Lyoness America, where she is responsible for marketing, communication and business development efforts. Lyoness, an international shopping community and loyalty rewards program, sponsors the Lyoness Child & Family Foundation (CFF) which is actively involved in supporting children, adolescents and families worldwide, especially in the field of education.

Categories
Entrepreneurship

Keeping Your Entrepreneurial Focus Through The Holidays

holidays

Article Contributed by Kelly Gregorio 

As savvy as entrepreneurs are, they are one of the easiest groups to let the holidays get the best of them.  From family commitments, to vacationed employees and a bustling customer base, this is the season of being overwhelmingly busy.

Truth be told, the whirlwind of the holidays goes by in the blink of an eye.  And there you are, faced with a new year and a whole lot of catch up to do.

This year, don’t fall into the holidays’ black hole; instead read on to discover the places and policies that would be greatly served by a little extra focus and attention.

Show Thanks

The holidays go by in the blink of an eye, and if you’re not on top of things you may miss the appropriate time to thank your customers for their business.  Be diligent about sending out handwritten cards or perhaps crafting an email that promotes a loyal customer holiday sale/discount.  Whatever your approach, encourage customers to deliver feedback on what they love and what changes they’d like to see in 2014.

As for your employees, the end of the year should mean more than just an annual review.  Now is the perfect time to reflect and show thanks. Thank them for their yearly contribution and mentor them by establishing individual professional goals for the coming year.  Not only will employees feel valued and respected, but your appreciation for their effort may also give them a much-needed boost throughout the busy holiday season.

Stay Active and Bright

Chances are that the social media bug bit you earlier this year.  With all of the positive customer-interaction potential, you’ve hopefully jumped on the Facebook, Twitter, and Instagram brand bandwagons.  Good for you! But don’t forget about your old friend, your website…

Now that you’ve moved on to other, more current technologies, it may be time to revamp the look and messages displayed on your web pages. Get rid of stale content and post something fresh that matches your style and tone.  Update your website with new products and upcoming services for 2014.  Also make sure all of your links to social media are just a click away.  Incorporating new technology into your brand’s outreach is key, just make sure your brand’s look and tone remains consistent throughout all of your different platforms on the web.

Evaluate Your Partners and Procedures

Before a fresh year is upon you it’s a good idea to evaluate your current partners and policies.  Take a minute and look at all of the outsourced relationships your business is currently involved in.  Are they working?  Is the competition offering something better?  If not then now is the time to make a change in the spirit of the upcoming New Year.  And if you’re happy, then extend a well-deserved thank you to keep your positive relationship going.

The same concept goes for your current polices and procedures.  Sure, you follow the steps you put in place because they are what got your business off of the ground, but are they still working?  More important, how can they be improved?

Prep and Envision a Strong 2014

Despite how busy you are it may be worth squeezing in a meeting with your accountant before the New Year’s ball drops. Buying new equipment, setting up a retirement plan or donating to a charity are all things you will probably do eventually, so why not do it when it makes the most financial sense? See if you can conduct any end-of-the-year adjustments to save your business money and more important, end this year on a financially healthy high note.

Also, before 2013 comes to a close it’s a good idea to sit back and reflect yourself.  What were your biggest hurdles this year?  How did you overcome them?

Take some time to envision your planned success in 2014.  Outline what changes you hope to see and start setting benchmarked goals that will lead you toward achieving them.  The holidays will come and go no matter what, how accomplished you’ll feel when this year’s calendar comes to a close is completely up to you.

How will you keep your entrepreneurial focus through the holidays?

Share your tips with us!

About the author: Kelly Gregorio writes about small business topics while working at Advantage Capital Funds, a provider of merchant cash advances. You can read her daily business blog here.

Categories
Starting Up

So you have a good idea; but are you ready to start your own business?

business_research_

Many entrepreneurs go into business with a good idea, pursuing a passion. But often they may overlook some key business needs, and then encounter avoidable pitfalls. Along with your great idea, there needs to be a clear idea of how the business will succeed.

It’s important when considering starting (or buying) a business, to ask these FIVE KEY questions, and understand why you need to ask them:

1. Have you done the research required to achieve success?

Whether starting or buying a business, you must do your homework. I always put customer development at the top of my “research” list. If you don’t have customers, you don’t have a business! In other words will your idea fill an unmet need in the marketplace or solve a pain point for your customer?

Next, understand who your competitors are, and what you can do better than they do. But don’t let this de-focus you from customer development!

After gathering this information, you can create your strategic plan, with a clear vision of how to meet your business goals, and begin to focus on things related to everyday running of the business, and dealing with sales and customers.

As part of your initial research consider putting together a team of trusted advisors, including an attorney, an accountant, a banker and a financial advisor. Always take advantage of available resources when launching your business.

2. How much time will running this business take?

We all underestimate the amount of time and energy it takes to launch a new business! Changes in the economy have led to many people deciding to start their own business; but launching a new business is not an endeavor to jump into lightly. The time needed to research, plan, market and operate a business may be much more than you expect.

And of course there’s the cold, hard fact that only half of all new businesses survive five years or more, and about one-third survive 10 years or more, according to the U.S. Small Business Administration. That’s a wake up call to separate the truly determined from the rest…!

It’s important to know how much time you have available to invest in your small business to make it successful. Make sure to allow time to strategize, market, and sell your product or service, not just focus on running the business.

3. When will I make a profit?

Most small businesses do not turn a profit immediately, especially start-ups; you need to make sure there are enough reserves on hand to cover expenses (read: live on). Every business is different, so there’s no general rule about when a business may become profitable. Some small businesses don’t make a profit for years, though they may be covering operating expenses. You should have enough working capital on hand to cover payroll, operations and other unplanned expenses for at least a year.

4. How should the product be priced so it’s competitive?

One mistake many entrepreneurs make is pricing their product or service based on their perceived value of the commodity, rather than based on what the market will bear. Remember customer development in step 1? Determine ahead of time whether your potential customers are willing to pay for your product or service, at a price which allows you to make a profit!

Winning the price war is not always better – make sure the business can generate sufficient profit margins to cover everything you need….

5. Can I afford to start my business?

Starting (or buying) any business often requires a large initial investment, so it’s important to ensure that your current and future finances are in order. How much can you invest? How can financing be raised if necessary? Also, look at how much savings or additional income you have available to live on while getting the business off the ground. And lastly, ask yourself how much money you can afford to lose, if this whole thing goes belly-up?

Research the startup costs for the business and develop a realistic plan to ensure that the needed funds are available. Maybe you should keep your day job a bit longer?

Summary:  When launching a new venture, go forward with your eyes wide open. Be sure to explore all of the resources available, and seek help from experienced advisors and peers to help you navigate your course. Building a successful business starts with asking the right questions.

The stakes are high for owning a small business; but growing your own idea into a profitable company can be extremely rewarding, especially if you have done your research and planned well ahead, and thus avoid the usual start-up pitfalls. Work smart! Because you already know you will be working hard!