If you’re starting a business right now, marketing can be one of the first efforts to take a hit. After all, why should you market products aggressively to customers who aren’t ready to spend?
Cutting back on marketing efforts right now is actually a pretty risky move- studies show that companies who increased or maintained marketing budgets during lean times are rewarded with more sales as the economy begins to pick back up. According to McGraw-Hill research, companies who increased or did not change marketing budgets during the ’81-’82 recession saw significantly higher sales growth within five years- over twice as much as those companies that chose to cut back.
So how do you design and implement an online interactive marketing strategy on a shoestring budget? What can you save on when contracting for services? Here’s a quick primer on choosing an online marketing company and forming the contract you want- at a price that’s within your budget.
Evaluate your requirements.
Do you already employ online marketing strategies such as email blasts, customer follow-up emails, or search optimization strategies? If you’re already working with an online marketing firm and are unhappy with the services you’re receiving, the price you’re paying, or both, figure out exactly what you need before you switch or begin to negotiate. Do you want to build relationships, increase brand visibility among certain customer groups, or stay in touch with existing clients? Evaluate your needs before choosing- or choosing to stay with- a company: List the services you want and how much you’re willing to pay.
Re-negotiate.
If your current online marketing firm is meeting your needs, you can still negotiate on price. Most of the time, this means contracting for additional services or a longer term- a better deal in the long run if you’re working with a reputable company. You may be able to get discounted services simply by asking, especially if your contract is about to expire. Trying to re-negotiate your existing contract- if you have one- is a step you should take before looking for a new provider.
Use smart bargaining tactics.
If you’ve narrowed down the field of providers to a few worthy contenders, try to negotiate with each to get the best deal for services. Most vendors are a bit more flexible and open to bargaining near the end of the month or the end of a sales quarter. You can ask for more services, an extended agreement, a payment plan, or any other compromise that reduces your out-of-pocket-cost. Up-front payments (retainers) are usually not negotiable- most vendors will require some monetary outlay before beginning work.
Get a written estimate or service quote.
These usually serve as previews for the final contract. It should be specific, but not too specific- it can be a good idea to split projects into phases if you’re using several different strategies. You should have access to all necessary information (graphics, advertising agreements, affiliate information) in the event that you ever decide to use a different company for later efforts. Make sure that you compare several different service quotes to get an idea of the “going rate” for services- this places you in a better position to negotiate.
Make sure you can track efforts.
Make sure you know how results are tracked. Will you be able to monitor key information (web traffic, conversions, etc.) yourself? Make sure you know how results of the marketing strategy will be measured.
Online marketing is one of the most effective methods of sales generation. Make sure you shop around for a company, compare price quotes, and ask for references. A good firm won’t ever “guarantee” a certain search engine result or output, but will be able to accurately track the results of their efforts. Spending on marketing is effectively investing in future sales- make sure you invest wisely.
Merrin Muxlow is a writer, yoga instructor, and law student based in San Diego, California. She writes extensively for Resource Nation, a company that provides resources for business owners, and is a frequent contributor to several sites and programs that offer tools for entrepreneurs, including Dell and BizEquity.
Author: Pamela Swift
What do you need to start a successful business?
It’s a question almost all entrepreneurs have pondered. Do you need a business plan before you start, funding to fall back on, or a detailed strategy for how your company will grow? Nearly half of all small businesses fail within the first year of operation- what’s the difference between those that fail and those that succeed?
I recently had the opportunity to speak with Judi Sheppard Missett, founder of Jazzercise. Missett built Jazzercise from a one-woman operation into an international corporation with over 7500 franchises worldwide. Here’s what I learned from our conversation:
You don’t always need start-up capital. “I didn’t even get a business loan,” she told me- something virtually unheard of in many entrepreneurial circles. This should come as wonderful news for anyone trying to start a business on a lean budget or without the resources they think they need.
Evaluate your costs of doing business, and show smart for the resources you need to get started. For example, you can usually find a great website designer for a few thousand dollars if you shop around and compare quotes. Most of what you really need is accessible without a large nest of start-up money.
Provide what the customer finds valuable… Missett taught a jazz dance class in Chicago that eventually lead to the Jazzercise idea. At first, she instructed with an eye to technique and form –just like she had been taught while training to become a professional performer. When students stopped coming to class, she had that “lightbulb” moment- the students cared more about looking like professional dancers than dancing like them. From then on, Missett taught the kind of class her students wanted- fun, no mirrors, great music, and lots of movement.
Too many business owners come up with an idea and try to find a market. Missett proves that the other way around is usually more successful- listen to what customers want, and figure out a way to give it to them. Do research on customer patterns, find a way to track behavior by hiring an online marketing company or tracking marketing campaigns and sales strategically.
…And be willing to adapt and change to customer needs. Jazzercise has managed to grow in spite of the “fad” element most fitness trends seem to capitalize on, precisely because customers still get what they want- Jazzercise programs now incorporate strength moves, contemporary music, and other elements that customers began to want as the program became more popular.
Planning and development aren’t just for startups. If your customer base is growing or changing, you need to grow and change, too. Use email blasts to keep in touch with customers, and build relationships while your business is growing. Keep your offerings exciting and fun, but consistent with the product customers have grown to love.
Listen for opportunity knocking! As the saying goes, you should be ready to answer when opportunities come pounding on your door. When Missett began teaching in San Diego, many of her students were military spouses who moved to far away cities and wanted to continue the program.. Missett’s husband was familiar VHS video, then just a developing technology, so she videotaped routines for faraway teachers. This effort lead to the formation of what is now JM DigitalWorks, a video production company that is a division of Jazzercise.
Don’t wait to be in the right place at the right time- evaluate the resources you already have, and try to create opportunities for yourself . As Judi Sheppard Missett says, “We are all in the right place at the right time, we just need to be aware of it.”
One way to gain recognition for your community and build visibility for your business is by earning business awards. Many are self-nominated and fairly easy to apply for. Here’s a quick guide to a few of the best business awards for 2009:
Businesses that have helped jump start our economy by maintaining growth over the past three years are eligible for the Inc. Magazine 500/5000 award. Winners are invited to attend the nationally recognized Inc. 500/5000 conference, and are featured in future magazine and online stories. This award is a great chance to gain visibility for your company and to represent your community- past winners have included social mission companies, tech startups, and beauty product lines- companies in all industries with over $2m in sales for 2008 are encouraged to apply.
For those still working on breaking the $1m mark, the Make Mine a Million $ Business contest, sponsored by Count Me In, is a great way to gain the support you need to meet this benchmark. The contest operates as a “race” to the $1m sales mark, and most participants see sales increase at least 40% over the duration of the competition. The M3 race is open to women owned businesses in one of 15 categories.
Businesses already on the fast track to earn $1m- those with $500,000 or more in sales for 2008, are eligible to enter the Entrepreneur Magazine Small Business Contest. Similar to the 500/5000 conferenceInc. contest, businesses are featured in a future magazine issue or online story. Entrants are also featured on the contest website- a great way to increase visibility for your business even if you aren’t chosen as a winner.
The Ernst and Young Entrepreneur of the Year award is given annually by international accounting and consulting firm Ernst and Young. Award recipients may attend special conferences and are invited into a network of past winners and prestigious entrepreneurs. The award is internationally recognized as a great achievement- check out the website and contest rules for more details.
If you don’t have the time for a lengthy application, or don’t have the sales revenue to qualify for one of the larger contests, consider Business.com’s “What Works for Business” contest. Applicants write a quick essay about a challenge they’ve overcome. Any small business owner that has overhauled their website design implemented a new online marketing strategy knows that the small things can sometimes be the toughest to take on- here’s your chance to let other entrepreneurs learn from your success. Prizes for the top essay are awarded monthly.
Finally, Ideablob.com allows you to test out business ideas for the chance to win a $10,000 award. Award money goes toward the costs of implementing the idea- if you need to purchase inventory, equipment (such as a credit card terminal) or business software to get your business off the ground, here’s a great place to get started. Awards are given monthly, and are determined by votes from members of the site’s online community.
Whether you’re a brand-new business or a seasoned business owner, there’s a contest out there for you. Most of the above have spring deadlines, so get going- apply for the award you deserve. Good luck!
Article contributed by Mike Robbins
How often do you not say or do something because you’re worried about how it’ll be perceived? For most of us, myself included, this happens more often then we’d like to admit.
We live in a culture that is starving for authenticity. We want our leaders, our co-workers, our family members, our friends, and everyone else we interact with to tell us the truth and to be themselves. Most important, we want to have the personal freedom and confidence to say, do, and be who we really are, without worrying so much about how we appear to others and what they might think or say about us.
Sadly, however, even though we may say we want to live in a way that is true to our deepest passions, beliefs, and desires; most of us don’t and it’s not that easy. We’ve been taught by our parents, teachers, spouses, friends, co-workers, politicians, the media, and others, that it’s more important to be liked and to fit in than it is to be who we truly are. In addition, many of us assume that who we are is not good enough and therefore we’re constantly trying to fix ourselves, or to act like others who we think are better than us.
However, as the famous 19th century author and poet Oscar Wilde so brilliantly stated, “Be yourself, everyone else is already taken.”
What It Really Means to Be Authentic
Authenticity is about enjoying a new sense of freedom to be who we really are–ourselves, natural and without a mask in our relationships, our work, and our life. It takes courage, commitment, and depth to:
– Look within ourselves
– Tell the whole truth (even when we don’t want to)
– Be vulnerable
– Admit, own, and share our true thoughts, feelings, desires, insecurities, passions, embarrassment, dreams, and more.
However, being open and real about all of these things (and more) is what it means to be authentic in life.
Five Principles for Being Your Authentic Self
In order to utilize the power of authenticity in your life as a way to enhance your relationships, increase your fulfillment, and empower yourself, here are five key principles:
1) Know Yourself – Make a commitment to your own personal growth. Discover more of who you are. And, seek out and allow the support, honest feedback, and guidance of others.
2) Transform Your Fear – There’s nothing wrong with having fear, it’s the resistance and denial of fear that is the real problem. When you admit, own, feel, and express your fear, you have the ability to move through it, transform it, and utilize its power in a positive way. Taking action in the face of fear is courageous and empowering.
3) Express Yourself – Have the courage to speak your truth boldly. Deal with conflicts directly. Express your emotions fully. Be vulnerable and real about what you think and how you feel. While on the surface you may worry that this will be seen as “weak,” in actuality expressing yourself completely gives you access to real freedom and power.
4) Be Bold – Live, speak, and act with courage, passion, and truth – even if it’s difficult or scary. Go for what you want in your work and in your life. And get back up when you fall down, which you will.
5) Celebrate Who You Are – Appreciate and honor who you are, what you do, and the gifts and talents that you have. Celebrating yourself is not about being arrogant. It’s an awareness of your own power and it’s the key to self-confidence, fulfillment, and authenticity.
Being your authentic self is not for the faint of heart, but once you’re willing to truly engage and do the work to become more real – your life, your work, and your relationships will be more exciting, meaningful, and fulfilling!
About the Author
Mike Robbins is a best-selling author and personal growth expert who empowers people just like you with more freedom and confidence in their work, in their relationships and in life. Now you can get a FREE Sneak Preview to his NEW book: Be Yourself, Everyone Else is Already Taken (Hardcover, Wiley) and learn how to transform your life with the power of authenticity at: http://www.beyourselfbook.com/about-book.htm
Article Contributed by Paul Rakovich
There are two paths that you can take when it comes to managing your pay-per-click advertising campaign online. You can learn it yourself and make Google’s stock rise higher while you figure out the learning curve, then spend a lot of time keeping it running smoothly. Or, you can hire a professional pay-per-click firm to handle it for you.
I did both.
See, I know the position you’re in right now. I’ve been there. I’ve hired and fired 2 pay-per-click management companies. I was forced to learn on my own and spend tens of thousands of dollars.
My Experiences with Outsourcing My Pay-Per-Click Needs
The first pay-per-click management company that I hired kept raising my budget and jacking up my costs-per-click. Yet, I wasn’t getting any conversions!
So I decided to fire that PPC firm and manage my own pay-per-click campaigns. I studied under the top gurus like Perry Marshall. I bought all the ebooks and coaching programs. And, I spent more than $10,000.00 figuring everything out on my own until I grew a no name business into $50k per month in sales all from pay-per-click advertising.
But, I worked day and night on my pay-per-click campaigns. I spent a ton of time, money and effort on it. I couldn’t handle it anymore so I hired another pay-per-click firm to take over the accounts again. They did a nice job and are still around today, but I saw some holes in their approach.
Now, I don’t want you to make the same mistakes I did. I want to help you choose a pay-per-click management company that’s actually going to help you turn clicks into clients.
Here are 7 Questions You Need to Ask Before You Hire a Pay-Per-Click Management Company:
1. This is going to piss people off: How many accounts does an account manager handle? Just because you have a “dedicated” account manager doesn’t mean he/she isn’t dedicated to 50 other accounts. This is not uncommon in some of the larger pay-per-click firms out there. If they work 40 hours per week that’s less than 1 hour/week they are spending on your account, provided they do nothing but work on accounts every minute of the day.
2. Can I peek in and have access to my Google & Yahoo accounts? There’s a new breed of PPC management that keeps everything secret. They are basically buying a click for $1.00 then charging you an undisclosed markup on the click. That’s why their setup & management fees are low. They’re making money on marking up your clicks.
3. What constitutes an improvement? You need to put in your order with the pay-per-click firm just like you would order a steak medium rare with a side of truffle fries to a waiter. Don’t be afraid to ask for help and don’t be afraid to speak up. For example: I want to increase sales while keeping my cost-per-sale under $50.
4. Do you track phone calls? If you are doing any part of the business offline then your pay-per-click management company should offer a way to track where your calls are coming from. Tracking calls back to specific keywords helps eliminate waste and will reveal high response terms you’ll want to dominate.
5. What are your prices? Now, don’t be cheap. There is no such thing as a Mercedes Benz for Honda prices. I’ll admit some people don’t need the Mercedes, but if you are spending $2,000/month or more, chances are you at least need a certified, pre-owned BMW.
6. What is your experience? I’m all for giving the new guy a try. I was the new guy at one point. Nothing, I repeat nothing can replace experience. Experience comes from long hours of hard work. There are no magic formulas. Good solid basics and some creativity will always win in the end.
7. Will you involve me in the project? No one knows your business as well as you. Get specific on how often you’ll meet to review the results and plan next steps. A good pay-per-click firm will welcome your input. It is invaluable.
Now, it’s up to you. But, if you fail to ask the above questions, then you’re risking hiring and firing new pay-per-click management companies when things go south or spending tens of thousands of dollars learning how to do it yourself like I did. Learn from my pay-per-click outsourcing experiences.
About the Author
Pay-Per-Click Expert Paul Rakovich grew a no-named business selling Tony Robbins CDs to doing $50,000.00 per month in sales with PPC advertising. Today, he manages PPC campaigns for plastic surgeons, dermatologists, clothing companies, dentists, lawyers, Internet marketers, a famous copywriter and more! Now get his FREE 5 PPC Fixes That Could Save You Thousands at http://www.clicksandclients.com & learn how to turn your clicks into paying clients.