Month: March 2012

Categories
Sales & Marketing

5 Quick Tips for Effective Online Video Marketing

Small business is flocking to online video as a powerful marketing tool. Online video viewing is skyrocketing with uber-video juggernaut YouTube leading the way. Video marketing is here to stay, so entrepreneurs must lead, follow or get out of the way!

Online video is very effective because it creates a personal connection, helping to increase the “know, like and trust” factor among your prospects and clients. Video marketing can also help you enhance your online visibility and stand out in a crowded and competitive environment. Here are a few tips to keep in mind as you dip your toes into the video marketing waters…

Tip # 1: Keep it simple: While there are some common misconceptions about online video, the truth is it’s not expensive to get started. Using video in your online marketing efforts is also less technical than most people think. While production quality is important, you don’t need a big Hollywood production to create compelling videos. Start with what you’ve got, even if it’s just a webcam – or even the video camera on your mobile phone!

Tip # 2: Content trumps quality. The common elements of most video marketing “success stories” include consistency, strong content, a connection to the audience, and the ability to effectively communicate your marketing message.

Tip # 3: Choose your format wisely. There are numerous ways of using online video, ranging from live versus pre-recorded, on camera or off camera, educational or promotional. What platform do you prefer? How you choose to use the medium should be driven by your specific marketing goals. Video marketing is all about playing to your strengths.

Tip # 4: One video at a time. There are sales videos, list-building videos, website welcome videos, expert tips videos, instructional videos, and live videos. Decide which type of marketing video is best for your business and begin with that one!

Tip # 5: Begin with the end in mind. Before you create your video, consider your marketing goals. Video objectives can include increasing online exposure, driving website traffic, building trust and credibility, or developing your personal brand. And let’s not forget the elusive “viral video!” Viral video is like the Holy Grail of marketing…

Start with these 5 simple marketing guidelines and your online video will break through the clutter and maximize your internet marketing.

Categories
Franchise

6 Franchise Industries with Promising Outlooks

With national brand recognition and an aggressive business strategy, franchises have become particularly popular – and could soon replace many independent retailers – because they are able to offer low prices through economies of scale. Industry research firm IBISWorld has identified the following six franchise industries with promising outlooks, based on revenue growth, growth in the number of franchise establishments and the dispersion of those establishments on a national scale:

New Car Dealers – Coming off a nearly 5.0 percent annual decrease over the past five years, new car dealers that operated under the franchise model have turned the corner and are expected to grow steadily going forward.  IBISWorld estimates that the New Car Dealer Franchise industry’s revenue will grow at an average annual rate of 3.4 percent in the five years to 2017.

Sandwich and Sub Stores – Sandwich and Sub Store franchises, such as Subway, have experienced moderate growth over the past five years and are expected to continue to grow at a steady pace, despite facing considerable competition from independent businesses.  In the past five years, buying local and food truck trends have taken off, putting even more pressure on franchises to adapt.  But, over the next five years, IBISWorld expects sandwich and sub store franchises to expand 3.0 percent and continue to push independent restaurants out of business.

Pharmacies and Drug Stores – Despite heavy and changeable government regulation, pharmacy and drug store franchises fared well during the recession and will return to prerecession growth rates in 2012. A key driver for the industry has been the widespread adoption of generic drugs. IBISWorld expects pharmacy and drug store franchises to grow at a rate of more than 3.0 percent per year in the next five years.

Gas Stations with Convenience Stores – Although many gasoline companies are starting to buy establishments back from franchisees, breaking into this industry is still possible. Shell and Exxon Mobil are two of the largest gasoline distributors in the world, and both still use the franchise model for distribution. Despite lower-than-average growth during the recession, the $331.7 billion gas stations with convenience stores industry is expected to do well over the next five years, with projected growth of just more than 2.0 percent per year. Growth prospects will depend on the total vehicle miles driven and consumer spending, which are both expected to increase as the economy improves.

Supermarkets and Grocery Stores – Despite high external competition from convenience stores, big-box retailers and warehouses, supermarket and grocery store franchises are expected to experience steady growth as the economy improves. Over the next five years, the $494.6 billion industry is expected to increase 0.1 percent as people once again begin to indulge themselves.

In-Home Senior Care – The baby-boomer generation is getting older and, as a result, in-home senior care franchises have been flourishing over the past five years.  Going forward, the trend toward “aging in place” is expected to strengthen and, as a result, the $6.0 billion In-Home Senior Care Franchises industry will continue to rapidly expand in the five years to 2017, with revenue growing 6.3 percent.

“Overall, franchises are expected to continue stealing market share away from independent businesses and increasing their total economic output, which currently stands at 4.4 percent of the total private sector,” said IBISWorld industry analyst Eben Jose.

About IBISWorld Inc.

Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit www.ibisworld.com or call 1-800-330-3772.

Categories
Sales & Marketing

Are You Making This Common Mistake That’s Costing You Sales? (Big Time)

A while ago, I was attending an event and I met someone who offered a service I needed. We exchanged cards and promised to be in touch when we returned home.

When I got home I turned over all those business cards to my team member as usual to enter into our database for follow up. It was about a month later when I realized this potential vendor had not contacted me or followed up with me. I no longer had the cards so I couldn’t look through them and I couldn’t remember her name or her business name and I didn’t have the time to comb through my database looking for her.

Needless to say, she didn’t get the project. And the sad part was I was ready to give it to her, that was why I thought of her a month later. But she hadn’t followed up so she never got a chance to get the business. I ended up finding someone else.

The morale of the story — you need to follow up with your prospects. Period.

Look, I know you’re spending a lot of time and money attracting leads into your business. You’re networking at live events, networking virtually using social networking, blogging, speaking, and probably a million other things.

So when those leads DO flow into your business, are you following up with them? Are you treating them like the gold they are?

I see this mistake happen over and over again. Entrepreneurs spend so much time and effort to bring leads home and then they never follow up. All those business cards get piled up on their desk never to get into a database. They have every intention of sending out a regular ezine for those online leads but somehow it never gets done. They rarely pick up the phone to connect with a warm (or even hot) prospect.

And then they wonder why their business isn’t growing and they struggle getting clients in the door.

There’s just no substitute for following up. (Have you heard the saying “the fortune is in the follow up?”) Giving someone your business card is NOT the same thing as following up with them. You’re relying on them to not lose your business card AND to remember the solution you offer when they’re ready for it. That just isn’t realistic.

You need to be the one to initiate, build and maintain the relationship. You need to be the one to remind the prospect about the solution you offer and how it will transform their life. Not the other way around.

Now I realize you’ve probably heard this before and you probably already know it. So if you’re not consistently following up, why not? What’s stopping you?

Most likely it’s 2 reasons — time and fear.

You’re busy and you don’t have the time to properly follow up. And you’re afraid you’re bugging your prospects if you do follow up.

I get it. I really do. I was there myself once. But here’s the thing — if you don’t get over those 2 issues, you’re never going to grow your business or enjoy consistent cash flow.

So here are 2 quick fixes to help you get started:

1. Who said YOU have to be the one to follow up? Get some help! Notice in my story I said I handed the business cards I collected to someone on my team to enter into my database. I did not say I was the one doing the entering. Have someone help you. (And the best part is you can probably justify the cost of this help because it directly impacts your bottom line).

2. Follow up doesn’t have to be calling people up and asking for work. Do things people will look forward to getting — send them articles, tips, or maybe something funny that entertains them. Think about ways you can stay in contact with your prospects that’s not about just making sales calls.

Remember, it typically takes 7 “touches” before a prospect turns into a client (and in the “new” economy it’s probably going to take a lot more). So don’t be discouraged if you’re first few attempts don’t turn into anything. Be persistent and consistent and eventually you’ll see your hard work paying off.

Categories
Work Life

Working Harder vs. Working Happier: What Research Tells Us about Success

Have you ever had the experience of being so deeply immersed in a project that you lost track of time? Research shows that those are the times when we’re happiest- when we’re engaging our natural skills and abilities.

As a business coach with over thirty years of experience, I’ve seen it in action, over and over again: people succeed when they put themselves in a position to truly use their natural skills and abilities. Happiness leads to success.

When I talk about this—it seems clear that everyone in the audience knows exactly what I’m talking about, because the result is almost universally positive.

People like the idea of developing their natural skills and talents, and they are familiar (usually from early childhood) with the meaning and satisfaction that comes from engaging in activities that are supported by their innate Perceptual Style.

While this “sounds good” to almost everyone, most people don’t believe that it’s possible to succeed in business by focusing on their natural skills and abilities.

Talking to people after a presentation, I have heard many variations on the same theme: “Sounds great, but I have a business to run and don’t have time to be distracted,” or “Sounds like a lot of hard work,” or “You can’t just focus on the positive.”

Recently, though, I discovered an answer to why people can be so negative about being positive! Research in positive psychology shows that many people have a formula for happiness set up in their heads that goes like this: “If I work harder, I will be more successful. If I am more successful, then I will be happy.”

Telling someone who has this formula in his head to work on those skills and talents that are “easy” rather than “hard” is the same as telling him to give up on success and happiness and settle for what they have.

Research, however, has shown that this formula doesn’t work. Hard work may lead to some success, but success doesn’t lead to happiness. The truth is 180 degrees different: Happiness leads to real success. When people are happy and focused on the positive aspects of themselves and the world, their brains perform 31 percent better than if they are negative, neutral, or stressed. They are more intelligent, more creative, and have more energy. In fact, when people are happy, their performance improves on every single measure of business outcome.

According to Shawn Achor, founder and CEO of Good Think, Inc., “If we study what is merely average, we will remain average.” What we focus on and study creates our reality. If you focus on discovering and developing your weaknesses, your will have a never-ending list of acquired skills that you must work hard to develop. While you may become proficient in those skills over time, you will also be physically, emotionally, and psychologically stressed. And we now know how much less efficient our brains are when we are stressed!

If you want to be truly successful, first you must be happy. To be happy, you must focus on what you genuinely enjoy doing, and focus on developing what you already do well. Almost anyone who has mastered any discipline will attest to the truth of this.

So, to those who question the investment in their own talents and abilities, I say: If you want to be happy and successful, you must focus on your natural gifts and talents. It’s not a lot of hard work, it’s a lot of easy work. What you are doing now is hard work!

About the Author: 

Lynda-Ross Vega: A partner at Vega Behavioral Consulting, Ltd., Lynda-Ross specializes in helping entrepreneurs and coaches build dynamite teams and systems that WORK. She is co-creator of Perceptual Style Theory, a revolutionary psychological assessment system that teaches people how to unleash their deepest potentials for success. For free information on how to succeed as an entrepreneur or coach, create a thriving business and build your bottom line doing more of what you love, visit www.YourTalentAdvantage.com.

 

 

 

 

Categories
Success Attitude

3 Ways to Deal with Squawkers in Your Business

I enjoyed some quiet time early one morning before the demands of my day started. All of a sudden, a bird began squawking just outside the window. At first I ignored it, but it loudly persisted so I got up.

As I stepped out on the porch, I saw the bird squawking at Maybelle, our cat, who sat on the porch, staring off across the horse pasture. The bird bothered me, but not Maybelle.

She sauntered over, giving me permission to pet her while the bird still screamed at us. But Maybelle didn’t mind. She knew the bird was there, but chose to ignore it and enjoy my petting.

Is there always someone squawking at you about your business?

An employee complaining about your “cheap coffee”?

A vendor who’s more concerned about his sales than your profits?

A customer who’s convinced you overcharged her a nickel?

How do you deal with all the squawkers like Maybelle and Work Positive?

Ignore Them

Like Maybelle, you have a choice to whom you give your time, energy, and attention: the squawkers or someone more pleasant.

The path of least resistance is to abdicate your choice to the negative world and allow the loudest or most persistent squawker to garner your precious resources. Maybelle chose to ignore the pain-in-the-rear bird.

How often do you make a conscious choice in your workday to be like Maybelle and ignore the squawkers? She knew the bird was there, just like you know your chronically complaining employee is present, your vendor’s agenda, and your customer’s penchant for penny-pinching. You accept the reality of working with them, but strategically divert your most precious resources—time, energy, and attention—away from them.

Your internal conversation goes something like this: “I hear you, but I choose to ignore you.”

Eliminate Them

Sometimes ignoring them fails to moderate the squawking. They ramp up the volume and start dive-bombing you in a concerted effort to siphon your precious resources.

That’s when you move to eliminate them.

Maybelle was a well-fed cat, and on this particular occasion, chose not to eat the bird. However, I remember many other times when I discovered bird feathers around her mouth.

When the level of difficulty in ignoring the squawkers moves to DefCon 1 for you, then your internal conversation becomes, “It costs too much to do business with you.”

You fire the employee and hire another.

You fire the vendor and talk with the next in line.

You fire the customer and attract another, more preferable one.

You ignore, and when necessary eliminate, the squawkers at work, so you may…

Enjoy Them

Maybelle relaxed on the porch, gazing across the beautiful pastures to welcome a new day. She chose to give her time, energy, and attention to the positive morning and enjoy.

Next, she seized the opportunity of my walking out on the porch to enjoy some petting. She embraced the chance to purr.

As you ignore and when necessary eliminate the squawkers, you free up your time, energy, and attention to give to more pleasurable Work Positive pursuits. Your internal conversation transforms to, “I choose you to enjoy.”

You get feedback on how to improve from your best employee.

You strategize with your vendor to create better price points for products.

You handwrite a personal note to your best customers to express your gratitude for their sending their friends to you.

You purr as you Work Positive.

Who will win your time, energy, and attention at work today?

Be like Maybelle.

Ignore, eliminate, and enjoy as you Work Positive in a negative world.

About the Author:

Best-selling author, speaker, and coach Dr. Joey Faucette shares how all of us working together create a more positive world this week. Adapted from his #1 Amazon best-seller, Work Positive in a Negative World.