Basic marketing your business Dope…
No commentsBy Pawan KKumar
Sometimes the simplest data is the best. Marketing is not complex if you know the basics thats true with anything by the way. Here are some tools that are brilliantly simple and with them you really wont have to sweat the small stuff.
Hot Dope #1) The more that your potential customers see your name in front of them, the more likely they are to call your number (and not someone elses) when they need the services you offer.
Many marketing efforts go unrewarded, not because they were off target but simply because they werent given enough of an opportunity to work. Showing your TV commercial one time, running an ad in the newspaper once, or doing one mailing of postcards may not be enough to grab and keep the audiences attention.
Get your name out there, do it on a regular basis and people will remember you when they need someone in your line of business. Actually, this particular Hot Dope cannot be stressed enough and failure to adhere to it is the #1 reason new businesses fail.
You should also know that taking the time to really see which pieces will generate the response you want will pay off. Dont just totally give up when a response is low persistence is vital.
Hot dope # 2) Measure your Return On Investment (ROI) in terms of actual MONEY not response rate. An advertising vehicle is working when the MONEY that it brings in has more value than the MONEY and time that is spent on the marketing.
Dont fall into the trap of becoming discouraged by a small number of callers responding to a large number of pieces. If you spend several hundred dollars to be in the view of a few thousand possible leads, it may only take a few customers responding for you to make enough of a profit for this type of marketing to be valuable. The usefulness of any vehicle can only be determined after the amount of income generated by the promotion has been calculated. If you spend 1/5 of what you generate or generate 5 times what you spend, your campaign was successful.
Hot dope #3) It is much easier to “sell” a prospect once you get them to call or come in to your store. In 2-Step Marketing, step 1 is to get them interested; step 2 is having them speak to a representative to get all the details and get closed by that representative.
Your design must be eye catching and informative, but dont try to close the sale by explaining all of the details in one piece of advertising. The details of a business transaction often take many more words to explain than the main concept of what is being sold. For example, if your company offers great prices depending on the quantity purchased, there is no need to list the prices for every quantity that you sell. Simply give examples of two or three different quantities and state somewhere in the advertisement that other discounts are available for other quantities. This will prompt them to call to get the rest of the details once you have gotten their interest.
Marketing can be as simple as 1-2-3 when you know the basics. By no means have I given you all the basics here, but by learning and implementing these 3 marketing fundamentals, you are already on your way to marketing success!
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Starting the New Year Right
By Jewell Hardin
Another year is just about ready to finish and it is time to start thinking about next year. If you own your own business or you manage a business division, then you need to ask yourself if all of the expectations that were set forth at the beginning of the year were met. If not then maybe what stopped you was a lack of goals and objectives, or just a lack of a good process to use when planning them. The goal setting process is essential to the success or failure of the business, and many careers have derailed due to a lack of them. Goals and objectives apply to everyone involved.
Being a business owner or a manager implies an inherent responsibility to insure plans are worked on, followed through on, and accomplished. The process that is used can and will determine whether or not you will finish the year with your hat in hand, or be congratulated for a job well done.
If you are a business manager, you were given a mission statement by the organization. This mission statement is the overarching goal of the organization. It does not tell you how it will be done. It just implies that it “is” done. It is your job to determine what resources you will need in order to make them come to fruition.
If you are the owner of the business, then you either have a business plan and or a mission statement. You should have both. Take this information and begin to formulate the things that need to be accomplished, the time period in which they need to be accomplished and by whom they need to be accomplished by.
This is goal setting. Understanding and expressing “what” needs to be done, “why” it needs to be done, “when’ it needs to be done, and finally, “how” it will be done is the goal setting scenario. Goals should be just beyond your reach. Just past your fingertips. If they are too far out there, you will not reach them and will become disappointed. Too close, and they will not be worthwhile at advancing your company or your career.
Start using the SMAC method in setting goals and objectives and always remember goals and objectives are not one in the same, though many people think they are. Goals are where you want to end up. Objectives are the steps to get there.
S stands for Specific. Make the goal as specific as possible. Stating a goal that says you want more customers is not specific. How many more customers? More customers than when? If you state you want more customers, then getting one customer today is more customers. This is not a goal, it is a hope. To be more specific, simply state that you want to increase your customer base for the first quarter of next year by 20% over your first quarter in the previous year. If you know what that number needs to be, that is even better.
M stands for Measurable. The goal must be measurable otherwise, how will you know if you are making progress? How will you know if you have accomplished the goal if it cannot be measured? Anything that is specific enough can be measured. The measurement method may take you some time to work up, but it can be measured if it is specific.
In the example above, if we stated we want more customers. Can you measure that? Now look at the rewrite: increase customer base for the first quarter of next year by 20% over the first quarter of the previous year. Can this be measured? Of course it can. Your goals need to be fluid enough that you can tweak them, make small adjustments here and there as needed in order to insure they are accomplished. Again, if you are the manager or the owner, you need to have a method that you will be able to periodically check the goals to make sure you are on track.
A stands for Achievable. Is the goal achievable by you or whoever needs to accomplish it? To say you want to triple your businesses income in the next 3 months is probably not achievable. Oh, you may hit the lottery or sell your business, but most likely, the goal of tripling your income over the next 3 months is more of a dream than it is a goal.
If you were to state that you want to increase your businesses income by 10% over the next 3 months you have a more achievable goal. It is just beyond your reach, can be measured and is achievable by means that you have or knowledge you can go and get. Another words, the learning curve is not going to be straight up in order for you to accomplish this.
C stands for Consistent. Is the goal consistent with the business plan and or the mission statement? If it is not, then achieving the goal will not move you, the business, or your career forward. And after all, isn’t moving forward what it’s all about? Make sure you set the goal consistent with the overall plans. To have a plan to have the best customer service response in your industry and then setting a goal to respond to customer inquiries in 7 business days or less, certainly does not seem to be consistent. A goal of responding to customer inquiries within 12 hours would be more consistent with the overarching plan.
Set a timeframe that you will accomplish the goal. By setting a timeframe you instill a sense of urgency that it needs to be paid attention to and accomplished. If you don’t set a timeline, then there will be a tendency to put it off, or start it at a later date. The goal will not seem as important.
Set goals with the people that work for you. In order for you to get more done as the owner or the manager, your people need to be advancing the organization as well. Teach them this process. Take the time and work with them to set 3 or 4 goals that will make them stretch their abilities. It will help improve them and the company at the same time. And don’t forget the most important part of working with your people: Following up. By having goals that you helped them to create and they participated in, you can step in at frequent intervals, measure the progress of the goals and discuss with them what challenges they are having and how to resolve them in order to successfully complete the goals.
When 2006 is over, your business or career will have advanced and you will be proud of your accomplishments knowing that it didn’t just happen by chance, but by good planning and execution.
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A Deeper Look at People Management
By Jewell Hardin
Your employees are the biggest asset you have. Their performance and attitude can result in the success or failure of your business. The most difficult part of any manager’s job is people management. He or she is required to lead, motivate, train, inspire, and encourage. On the other hand, he or she is also responsible for hiring, firing, disciplining, training and evaluating. These functions seem to be at odds, but a successful manager can integrate both the positive and negative aspects of these tasks to create a positive, productive work force.
People management, also known as human resource management (HRM), encompasses the tasks of recruitment, management, and providing ongoing support and direction for the employees of an organization. These tasks can include the following: compensation, hiring, performance management, organization development, safety, wellness, benefits, employee motivation, communication, administration, and training.
When managing the people within an organization, a manager must focus on both hiring the right people and then getting the most out of these people. New personnel must provide the organization with the best talent available that meets the needs of the business. The organization must look ahead to how a new employee can be used to their fullest. Getting the most out of an employee means a business has consistent policies and practices in place to provide its people with appropriate training and development. Employees are involved as “partners” in the business.
Probably the most important task a manager will face when dealing with the people under his direction is that of bringing out the best in them. Unlocking people potential is often seen as the key to any business’s success. When an employee’s talents are not channeled correctly, their behavior can seriously compromise the success of an organization. Some of the roles that an employee who is not being used to his potential can take on are as follows: procrastinator, martyr, gossip, manipulator, backstabber, narcissist, a deer in the headlights, black hole, stonewalled, curmudgeon, bully, and predator.
Instead of dealing with employees that develop defense mechanisms to mask their dissatisfaction with their work situation, let’s look as some ways to encourage effective behavior at work. After a problem behavior has been identified, address the employee immediately. Discuss taking responsibility for the ineffective behavior, how the behavior manifests itself, and the effect the behavior is having on the organization. Next, give the employee alternatives to his current behavior. In other words, teach him or her how the principles of achievement:
cooperation
respect
self-motivation
trust
self-discipline
Now that the employee has alternatives to their current behavior, draw up a performance improvement contract in which he or she agrees to specific actions to change his or her ineffective behavior. After the contract is signed, a manager needs to stay involved and committed to the process of change. He or she cannot assume that the problem will be automatically fixed now that it has been brought to light. The employee will require praise and reinforcement of any progress that they are able to make. If positive change is to occur, it will be evident soon after the initial confrontation. If this does not occur, a termination meeting must be scheduled quickly. One employee’s toxic behavior can quickly spread throughout an organization if it is not dealt with quickly and efficiently.
When evaluating an organization’s workforce, there are several areas that must be addressed. First, the staff must have the tools and resources that they need to do their jobs effectively. Employees cannot be blamed for an organization’s inefficiency if they are not provided with the equipment necessary to perform adequately. Next, get to know each employee as an individual and make sure that they are aware of their specific role within the organization. Clarify their responsibilities and goals. Also, involve each employee in making decisions which affect their area of expertise. This will result in the employee feeling that they “have a say” in what goes on in the organization and he or she will feel a sense of ownership. Finally, make sure that employees have an opportunity to have fun with their coworkers at appropriate times.
People Empowerment can be a very effective tool within the field of people management. This technique can be used to involve employees in any improvement program within an organization. Authority, accountability, and responsibility are delegated to the employees for improving the processes which are under their control without first having to obtain permission from management before making changes. This can be successful only when employees are recognized, congratulated, and rewarded for their commitment to problem solving.
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Saturday, October 31st, 2009 at 1:20 am and is filed under business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
