01/02/2010

The title on today’s blog feels like it comes from the Shameless Commerce Division – a surefire title to attract attention. Who doesn’t want to make more money this year? On a quick web search, I came up with hundreds, perhaps thousands, of blogs and web sites with articles promising advice for greater profitability in 2010. So, there is no shortage of advice. I’ve gleaned a few of the more compelling thoughts – most of which are not “new” but bear repeating. While I am writing here primarily for business owners, remember that if you are an employee or a job seeker, you are “in the business” of providing goods/services to your employer (ie customer). No matter if you are looking for business growth or job prosperity, these tips will help. And suffice to say – I plan to put these into practice myself.

• Contemplate the Past. With real numbers in front of you (not just your intuition), jot down what worked well for you last year. What pleased your clients and customers the most – and resulted in sales or referrals? Do more of that in 2010 – it is already working.

•Needs Assessment. It is more cost effective to win additional business from current customers than it is to convert new customers. What do your current clients and customers really need (key: often emotionally based)? What problems do they need solved? In this commoditized world, our clients and customers can get whatever general products/services we sell faster and cheaper from someone else–always. But they have chosen to do business with us. Why? Each of us needs to figure out this one. Then, we must be problem solvers and not “salespeople.” We must hone in on the perceived specific (and emotional) needs of our current customers and meet and exceed those needs. And if we cannot, then we should be ethical enough to say so. We should always do “the right thing for the right reason.”

•Attract New and High Quality Customers/Clients. When we have figured out what we are doing well and that we are able and WANT to do “more of that,” we start to understand our “selling proposition.” That is – Why do people want what we sell? Why will someone choose us over our competition? We can then market THAT thing that makes us special to a more specific audience that is somewhat “warm” and preselected – they specifically want what we specifically have to offer.

How do we let them know we are here? We must have functional and updated web sites that provide content that teaches, informs, entertains and gives enough specifics about us that prospects can safely reach out to us to get additional information to help them choose us. What do I mean by “safely?” No one wants to be rejected (back to that emotionally based thing again—remember that businesses don’t do business with us. People do business with us.). Our web sites should help the prospective customer say, Wow, this business does exactly what I need to have done and here is the name of a human being that I can contact by email or telephone or fax right now. On the flip side, if the prospect does ask for a service you don’t provide or sounds like a person you cannot fully please, be ethical enough to respond politely and perhaps provide direction to another business that might be able to help him/her.

How else can we use our web sites? Some of our businesses lend themselves to the social networking of FaceBook and Twitter. Others to blogs, like this one. Think about using videos for How-To’s. Something I’m seeing a lot is a Free Offer. What is that all about? It is a way to prequalify interested prospects. You offer something of value for free and a prospect who is very interested will trade his/her email address with you (full well knowing that he/she is now on a mailing list) to receive the free offer. Voila! Warm prospect who are already open to our “selling proposition.”

Other methods that are working: postcard direct mail campaigns (everyone will glance at a postcard before tossing it); signage on cars (seems dumb until you think about how often you are sitting in traffic reading the back of someone’s car); email campaigns (be aware of spam rules); webinars and teleconferences (often part of a Free Offer). Some of you might recall that I started my practice 16 years ago with a postcard campaign and a free monthly open forum business breakfast to chat about various business topics. People had a chance to get to know me in an unthreatening, non-sales environment.

But the key to all is a specific “selling proposition” geared to a specific audience. It is easier to “lead” than it is to “drag” new business to our doors.

•Make Time. As small business owners, we are often frenzied with just producing a work effort. We truly do need to make time – put it on the calendar – to work ON our businesses every month. Block out at least one day a month to look at your financials, to talk to your CPA (who would be overjoyed to brainstorm with you!), to think about what is and isn’t working, to take actions to correct course, to determine how to lead more business through the door. We can all make more money in 2010. So resolved. And we’ll work on the 30 pounds another day.