Posts Tagged "economy"

How to Effectively Kick-Start New Business Ventures

Helpful advice for those stuck in the ‘procrastination loop’: “Should I start a new business, or not?”   Some soar.   Many more crash.  Others merely survive.  The economy and competition have been a challenge for many small business owners.   So why in the world would anyone want to start a newbusiness in a rough economic climate? Simple. By implementing significantly more strategic plans and processes you can easily carve away market share from even the most established competitors as they struggle to survive the results of their considerably less-strategic way of doing business.  While they’re cutting costs, laying off employees and scaring away customers – you can be Johnny-on-the –spot to step into that void and have your new business fill those customers’ needs. So what factors contribute to the success of a survivor? According to certain experts, it’s an unwavering focus on growth and strategic business marketing.  Companies committed to growing their business when the economy is unfavorable will be much stronger and positioned to further outperform their competition when the economy bounces back. Business leaders know they will not achieve the success they desire tomorrow if they neglect their strategic business marketing efforts today.Several economic indicators suggest a recovery is around the corner.  Still others point to slow growth ahead.  Your competitors are most likely cutting back on their marketing efforts now, making it easier than ever for you to step in and go after their business.  The sooner you set your sights on growing your business – the better. Here are a few small business marketing initiatives you can start right now to kick-start your new business:   Small Business Marketing Initiatives Focus on Emotions: Zig Ziglar, the world famous sales trainer stated, “emotions drive buying decisions”.  People buy on emotion and then justify it with logic.  Marketing materials that focus on benefits appeal to customer emotions, while marketing materials that focus on features appeal to their logic.  Even customers who insist they are buying based on features, do so because it makes them feel good. Showcase Solutions: Feature unique or creative customer solutions on your website, newsletter, bulletin and other marketing materials to showcase your company’s talent to the marketplace.  Reinforce your commitment to the marketplace and inspire creative thinking throughout your organization. Benefits First: Focus on the benefits of the solution from the customer’s perspective vs. operational issues or product features. If possible, include a

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Is it the Economy, or is it YOU?

Do you think your sales & marketing results are terrible simply because of a poor economy? If so, think again. Many companies are achieving better results now than ever before.   The Winners and Losers Those organizations that are investing in improving their sales & marketing skills are seeing a significant return on their investment. They’re the winners. So it should come as no surprise that those that are cutting development budgets and staff members due to the ‘poor economy’ are the ones who are seeing declining results — the losers. Is your organization a winner or a loser? How to Become a Winner Here are some ways to increase your sales & marketing results, no matter what the economy is doing: More Business Is Out There, But You Have To Go Get It Are you sitting at your desk waiting for the phone to ring with a customer on the other end? This strategy may have worked five years ago, but now it’s the companies that are skillfully churning out new prospects — and asking for more business from the clients they already have — that are reaping the rewards. How many new prospects have you contacted this month? Be Grateful and Responsive Are you properly thanking your customers? Are you sending thank you letters (not just receipts), making thank you calls, thanking them personally? Doing so lets them know how important their business is to you. This is so important in terms of receiving future business from your clients that it cannot be overstated. Do you have a formal program in place to achieve this? Build Lasting Relationships Are you regularly receiving contact from new clients that were referred by existing ones? What are you doing to foster and build relationships with your customers that will lead them to suggest your product or service to others? When you build strong, lasting relationships with your clients, you create a social framework for years of future referrals. How many raving fans have you created for your business this year? Invest in your Skills Have you increased or decreased your training budget this year? Are you even providing training for your staff? When was the last time you personally attended training? It’s crucial to continually invest in skills and strategy improvement for you and your staff.   For more information or to discuss your particular needs in this area with an

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