Archive for 'Business'

Business Growth Strategies Part 1: New Business Profiling & Data

Every business needs to grow. Yet this universal truth is often approached with varying levels of competence. Few businesses have a realistic growth strategy in place, and even those that do rarely follow through their efforts or stick at them for the long run.

But somewhat surprisingly there are numerous strategies available to owners and managers of businesses seeking growth. For example businesses can seek to expand sales turnover and profitability through looking at existing or new products or services, their existing customer base, or potential new customers.

This article starts the process by showing you how examining your existing customers can provide the key to unlocking new business. Profiling Your Existing Customers Often, the first step in identifying new customers is to start with the old. Take a look at your existing customer database in detail. For a b2c consumer database use analysis tools like geodemographic profiling to identify the most common lifestyle groups amongst your customers, and then group consumers by location to identify geographic hotspots.

In the b2b environment, you may need to look at which trade customers are actually the most active. Analyse turnover by customer for the last 12 months, and see if your customer base adheres to Pareto’s Principle – that 20% of your customers will generate 80% of your sales, and even your profits. It’s surprising just how often this rule applies, and it enables you to identify the key b2b customers, and then discover more about them. Find out why they buy, where they are based, when they buy and what industry sectors they are from.

Once you’ve carried out this research in either a b2b or b2c market, you can then profile your ideal type of customer. This is who you will then go out to find more of.

Sources of New Business Data Armed with your target customer profile (or profiles) try to identify sources of these new business prospects. As your research has been based on data, the best place to start is by buying in or renting more databases to match your profile. Work with a reputable list supplier or provider, with experience in either b2b or b2c. They can take your profiles and help you build a bespoke database of new prospects that matches your needs.

Avoid cheap lists for sale on CD ROM’s as the data is likely to be out of date, and inaccurate. The money you may have saved in buying the list, will be far outweighed by the costly wastage you experience when you mail your list.

Try and invest in purchasing a list for multiple use, which you can garget on an ongoing basis as part of a longer term business development strategy. All too often businesses carry out just one mailing and then leave it at that – without realising that the majority of new prospects will need contacting more than once before deciding to buy from you.

Once you’ve obtained a quality list that closely matches the profile of your best existing customers, much of the guesswork has already been taken out of your new business development strategy.

Steve Sellwood is from www.selectabase.co.uk, an independent UK provider of b2b and b2c lists and databases for use in new business development. Selectabase also provides a range of data cleansing services for your existing customer database, including free Easycheck data cleansing software which can even carry out geodemographic profiling by postcode.

Business Growth Strategies For Surviving The US Recession

Note to Publishers: You may publish this article in your newsletter, on your website, or other online or offline publications as long as the article content is not altered. Online the resource box must include an active link to the author’s provided URL. Notification of use of this article is appreciated, but not required. This article may be distributed on public or private sites. The author can be reached at www.andrebell.com/askandre/ for comments or questions.

On the first Friday of the new year Wall Street suffered dramatic falls. Weaker than expected job data and the sharp rise in the December unemployment rate heightened fears of a recession in the USA, the world’s largest economy.

Technology behemoth Intel increased American market fears after Intel fell eight percent. Investors are fearful computer sales will lead a lag in overall corporate investment.

The head of OPEC predicted crude oil prices will remain high for at least another three months because of problems in Nigeria, Pakistan, and the credit crisis caused by the mortgage market collapse in the US.

On top of that, the Dow Jones fell to the worst three-day start to a year since the Great Depression in 1932.

Credit crisis, rising petroleum costs, and recession looming will lead to consumer spending hitting a significant slowdown too. All these problems prove the US economy is on shaky ground.

2008 will come to be known as the year of greatest turmoil and loss for small business. It will also become the year of greatest opportunity for companies that proactively implement business growth strategies that work, instead of sitting around hoping things will get better.

That’s because the next 12 to 18 months will be a period of considerable change. Globalization, a softening U.S. economy, and increases in petroleum and energy costs will make remaining agile in competitive markets a challenge.

Only companies that have built high performance organizations that can react quickly to change will survive and prosper. A key to that survival is capitalizing on new marketing opportunities. It also means moving away from low-margin commodities.

Here are five questions that help determine if your company needs or should make adjustments:

1) Are you an independent professional, service business owner, or marketing director who wants to stop worrying about the future?

2) Would you like to increase the frequency, volume, and profit of each purchase from existing clients?

3) Would you like to attract more high quality leads and dramatically increase the number of leads converted to profitable paying clients?

4) Do you want to significantly boost referrals?

5) Would you like to stop clients leaving to competitors?

If you answered yes to any of these questions, now is the time to do something about it. In fact, the best defense is usually a strong offense.

Look for ways to change your business model to coincide with changes taking place in your marketplace and the global economy as a whole.

These adjustments to your current marketing processes will help improve overall profitability regardless of what is going on in the rest of the economy. There are three steps in all.

Step 1 – Evaluate And Diagnose Your Current Marketing Position

Step 2 – Implement A Proactive Marketing Action Plan

Step 3 – Track And Measure Results

In a nutshell make a complete assessment of your company’s potential, determine where improvements can be made, then select practical and low or no expense strategies to strengthen your business model.

The coming recession doesn’t have to be a case of ‘doom and gloom’ for your company. Even during the Great Depression there were companies that came out of the Depression and continued to prosper. How 2008 turns out for you and your company largely depends on the choices you make right now, early in the game as the new year gets underway.

HTML: Andre Bell is an Author and Business Growth Strategist. Visit his official site at www.AndreBell.com for a free copy of his new Business Growth Strategies Report.

Cost-effective Marketing Secrets of Small Business Marketing Experts

Whether your business is old or new, you can’t stop advertising your product or service. And for most starters, small business marketing often mean cold calling potential buyers and making walk-in clients very satisfied. But are these small business marketing ideas still effective in this day and age? Or is Internet marketing becoming the next norm for small or big business.

Compounding to the challenge is that, these days, the business magazines, newspapers, Internet and even your email Inbox are riddled with small business marketing ideas from just anybody. Inexperienced businessmen or women can easily feel lost in these barrages of small business marketing views, advices, schemes, etc. So allow me to give you more centered strategies that undertake one powerful small business marketing strategy: Internet marketing.

Six Top Ideas for Online Marketing

1.  Pay Per Click Marketing (PPC)

For a tech-savvy entrepreneur, Pay Per Click marketing proves to be a strong business marketing method. However, business people employing Pay Per Click must have a clear understanding of what they’re doing or their cost per conversion could quickly rise unknowingly. That means vital to an effective Pay Per Click advertising drive and other local SEO is constant monitoring.

2.  Search Engine Optimization (SEO)

Unlike Pay Per Click marketing, Search Engine Optimization don’t show immediate results but a long-term aspect is feasible. On average, 75% of a business website’s traffic comes from organic search engine seeks. Remember that Google, Yahoo, and others wouldn’t mind your promotional budget. What they take into consideration are the SEO strategies you employed on your site What are important are the SEO techniques that you placed on your site.

3.  Public Relations (PR)

Public relations are perhaps the backbone of all small business marketing ideas since advertising campaigns was started. Nailing your offline as well as online PR campaign is a great way to bring awareness, authority, trust, and loyalty to your business. Online public relation through PR Wire is very cost-effective small business marketing strategy, for example.

4.  Twitter and Facebook Places

As if the mere presence on Twitter and Facebook to business advertisers isn’t enough today, the two online social media heavyweights added another killer tool for small business marketing campaigns: Twitter and Facebook Places. This application allows you to integrate your Tweets and Facebook posts to display a map where your business is located.

5.  Online Business Directories

Today, people are prepared to trade yellow pages to quicker, more interactive online business directories to find local businesses. If your business is not included on various online business directories, then it means you’re losing on tremendous amount of small business marketing ideas. You should worry if your head of advertising don’t know about online directories like Brigtlocal.com.

6.  Online Word of Mouth

And the last small business marketing strategy that’s paying huge dividend is online word of mouth. Online word of mouth is spread through blogs, customer reviews, online directories, and social networking sites. Seventy percent of future buyers trust online reviews; ReviewBiz from Brightlocal.com can help you gain glowing online customer review to jump start your online word of mouth.

For a starting business man or woman, these small business marketing ideas can be difficult to remember. In fact, the negative side to all these online marketing ideas is that they can be exceedingly time consuming to implement. But I didn’t come to solve your marketing problem only to bring another problem. I also came with another solution. Look into Brightlocal.com for local SEO London solutions, for example; the company can save you time and money in terms of online marketing ideas and solutions.

In closing, small business marketing ideas such as online directories, 5 simple steps for using local directories, etc. are a potent way to reach more local customers. These tried & trusted methods are permanent, and your business will fall if you don’t have these ideas in place.

Myles Anderson is the co-founder of Brightlocal.com. After working with big company names like Freeserve, eHarmony, and Orange, he turned his attention to helping all sorts of local businesses attract new customers through business directory listings and other local search engine marketing tools.

Small Business Marketing and SEO

Small Business Marketing and SEO

Small business marketing means to make search engine optimization techniques for a small business website to increase the traffic on website. The search engine optimization techniques improve the small business website to bring the traffic and new business that we always expect from the website of small business. Small business website means that the websites which are having their small business in turn and till these sites are not too much popular yet. Small business websites are not having the too much popularity as well as no traffic on the sites. There are very less no. of visitors to these sites. Therefore these sites owner who just started their business through small business sites are having very less profit from their business.

Now the owner of these small business websites wants their sites to be very popular and wants more and more traffic to his site so that he can get high profit from his small business website. To do this he needs Small business SEO. Small business SEO means to follow SEO techniques to get more traffic on the site and to improve the visibility of the website on the search engine.

Specializing in the small business SEO (search engine optimization), the small business website is optimized to gain rankings in the top ten listings in the search engine rankings. Proven SEO techniques are used to improve the ranking of small business website in the search engine. Search engine optimization is both the niche industry of Internet marketing and a specific set of techniques that guide the creation of a website in order to rank well for specific and relevant keywords at the various search engines.

Internet marketing or small business marketing is very essential for any website that helps a lot to make profit online. With the help of Internet marketing one can promote his business to next level. By using the small business SEO services there are large no. of chances to get visibility to users and generate increased revenue. As a business owner if anybody wants to advertise the products and services that his business offers, it can be done through various Medias such as television, newspapers, magazines, posters etc. But all these Medias are not too much cost and efforts effective. The Internet is a media which is very popular and cost effective way to do Internet marketing.

To get traffic from various search engines such as Google, Yahoo, and MSN etc is the important process of Internet marketing which is known as Search engine marketing. Search engine marketing is the form of Internet marketing that promotes the small business websites and increases the visibility in the search engine result pages. There are two ways to get high rankings and more traffic. One is to get the higher rank in the search engines natural results is through Search engine optimization and another is pay per click advertising in which sponsored advertising is bought on search engine.

Small business marketing and small business SEO are two important aspects of Internet marketing. You can enhance your small businesses with effective internet marketing techniques at polished media for better results in the business.

Some Tried and Tested Business Growth Strategies

Some Tried and Tested Business Growth Strategies

Business growth is something that a capable business owner will almost always go for when given the opportunity. But the main question here is how does one develop business growth? What are the key things that one has to consider when eyeing for that company expansion? There are actually many ways that companies grow. Here are just some of the things a lot of successful companies have included in some of their business growth strategies.

Get Good People

One of the most important and vital of all possible business growth strategies is to get good people to spearhead one’s business towards progress. Both the business’ management its workforce will directly contribute to the success or failure of a business venture.

One of the most respected business individual said it best: The capacity of the business to grow is directly proportional on the capability of management to lead. Good managers are critical for business growth. In fact, a lot of very successful companies are always on the lookout for capable and effective managers as part of their business growth strategies. Managers are often the ones responsible for a lot important decisions that the company makes.

Getting good managers is one very important part of the equation. However, another equally important part is to get an excellent work force. The individuals working in the company is equally as important as the managers leading them. If the managers decide, the “regular” employees are the driving force for the company’s success. It is these regular workers’ innovations and stellar performances of simple workers that help the company grow in leaps and bounds.

Expand Customer Base

Another important part of a lot of companies’ business growth strategies is to look for ways and means to expand their customer base. As most companies and businesses are aware of, customers are the lifeblood of business. A big customer base means more revenue while a relatively small customer base means less. Therefore it is of primary importance for a business to incorporate plans on how to increase their customers.

There are many ways that a company can increase its user base. Aggressive marketing is a primary example. Relentlessly pursuing potential customers is one of the things that separate a mediocre company from a highly successful one. Good advertising, holding exciting company promotional events and providing excellent customer service are just a few ways that companies can be aggressive in getting more customers.

Optimize Company Resources

A lot of successful businesses incorporate resource optimization as one of their many business growth strategies. Increasing a business’ customer base and thereby increasing sales by extension is important. However, it is also equally important for companies to minimize cost and also to optimize any resource available to them. A lot of expense goes into a business’ daily operation, but as many business analysts would agree, a lot of these resources are not properly optimized. Therefore a lot of unnecessary wastage occurs. These could have been turned into possible company savings if the use of these resources was handled properly.

Are you looking for more information regarding business growth strategies? Visit http://www.inspiration2020.com/ today!

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