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Market your self.
By manager@ni247.com Published: 05/05/2009
Your customers already know and trust you. It's easier to get more business from them than to get any business from somebody who never bought from you. Take advantage of this by creating some special deals just for your existing customers ..
1. Don't Advertise Like a Big Business
Big businesses advertise to create name recognition and future sales. A small business can't afford to do that. Instead, design your advertising to produce sales ...now. One way to accomplish this is to always include an offer in your advertising - and an easy way for prospective customers to respond to it.
2. Offer a Cheaper Version
Some prospective customers are not willing to pay the asking price for your product or service. Others are more interested in paying a low price than in getting the best quality. You can avoid losing sales to many of these customers by offering a smaller or stripped down version of your product or service at a lower price.
3. Offer a Premium Version
Not all customers are looking for a cheap price. Many are willing to pay a higher price to get a premium product or service. You can boost your average size sale and your total revenue by offering a more comprehensive product or service ...or by combining several products or services in a special premium package offer for a higher price.
4. Try Some Unusual Marketing Methods
Look for some unconventional marketing methods your competitors are overlooking. You may discover some highly profitable ways to generate sales and avoid competition. For example, print your best small ad on a postcard and mail it to prospects in your targeted market. A small ad on a postcard can drive a high volume of traffic to your website or generate a flood of sales leads for a very small cost.
5. Trim Your Ads
Reduce the size of your ads so you can run more ads for the same cost. You may even be surprised to find that some of your short ads generate a better response than their longer versions.
6. Set up Joint Promotions with Other Small Businesses
Contact some non-competing small businesses serving customers in your market. Offer to publicize their products or services to your customers in exchange for their publicizing your services to their customers. This usually produces a large number of sales for a very low cost.
To improve your chances of survival, are these basic business tips.
Top Ten tips:
• ‘Plan’ is a four-letter word – researching the market you are intending to enter is paramount. Be sure there is a demand for your services and identify who the competition is. Don’t forget to review your business plan and, if things have changed since you made it, ask yourself why.
• Pace yourself – budgeting is essential at all stages of the business lifecycle, but investing too much too soon may lead to a business becoming over-stretched.
• Credit where it’s due – negotiate longer credit terms with your suppliers but set shorter terms for your customers. Consider how early settlement or volume discounts could benefit your business.
• Lay out your own terms – establish and agree credit terms upfront. Ensure invoices are issued promptly, clearly displaying the conditions of the transaction such as “payment due”.
• Cash is king – cash is fundamental to any company and businesses must recognise the importance of generating cash and keeping it coming in. In the event of a cash flow blockage, explore alternative funding methods such as invoice finance which can release up to 85 per cent of the cash tied up in unpaid invoices.
• Streamline – look at ways in which internal processes can be carried out more efficiently and don’t be afraid to cut out wasteful tasks. Review your suppliers regularly to ensure their quotes are competitive and offer best value for money.
• Delegation’s what you need – by delegating time-consuming non essential tasks to other staff members, owners and manager will be freed to focus on the business' core activities such as generating new business.
• Ask the experts – seek external advice from an independent source such as an accountant, lawyer or business adviser. But remember to choose carefully – it is imperative that you select someone who appreciates your needs and understands which direction you want the business to go. Counsel from an outsider may also stop any rash decisions being made.
• Honesty is the best policy – be realistic. If things are not working out how you thought they would, address the reasons why this is happening and find a new approach.
• Roll with the punches – every business, at some stage or another, will experience a certain level of difficulty. Be decisive by tackling any problems head on and dealing with them promptly.
and good luck..
