Newsletter - 2010 11
November 2010
Business Success
Brought to You By BMA Marketing
BMA Marketing
Chris Swanson
Ray Tuttle
UPDATE
Vision, Mission, Value
Last month our newsletter contained an article on defining your Vision, Mission and Value Proposition. We took some time to take our own advice and reviewed, updated and posted our Vision, Mission, Value on our web site HERE.
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CENTERS REPORT RESULTS
See how BMA is using Facebook to share what Centers are reporting on New Bowler marketing
Here's a few of the center result reports shared on our Facebook page...
Outside Sales Promote...
- Company Outings
- New Bowler Visits
- Birthday Sales
Click link below for a short VIDEO on why centers are RE-ORDERING a program that's multiplying marketing dollars 2 to 10 times or more and....
- Drive in $6k to $24k of new bowler income in 90 days
- Promote Company Outings to local Office Managers
- Create a hot list of New Bowlers to fill Leagues
- Boost Birthday Party sales
- Grow email address list
- Advertise your center locally over 24,000 times per day
Click HERE for more...
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CUSTOMER SERVICE
Is the Customer Always Right? Why It Pays to Fire Toxic Clients
Despite the cliché about customers' inviolability, every businessperson knows there are times when customers are wrong and times when it makes sense to pull the plug on a customer.
The fact is that some customers are bad news, and your business is better off without them.
These customers generally fall into three categories:
• Those who expect you to act in a way that is illegal, unethical or unprofessional
• Those who cost more than they are worth
• Those who are rude and/or abusive to your employees
Under the "always right" maxim, customers can demand just about anything since they're right by definition. However, sometimes customers are simply just flat-out wrong.
There are also the customers who are just not worth the hassle, and there are others who are simply toxic to your business.
Siding with unreasonable customers over employees, over company policy, over reasonable expectations or over common sense is a very bad idea.
Employees are not serfs and should not have to tolerate abusive customers.
When it's a choice between supporting employees who work with you every day and make your product what it is, and placating an irate, unreasonable, demanding jerk, your loyalty should be with your employees.
Jettisoning a customer should always be a last resort, but it is sometimes necessary and can actually be good for your business.
Pruning your client base of low-margin, high-demand, time-consuming customers allows you and your staff to focus on customers who matter - the loyal, repeat buyers and promising new prospects.
MARKETING
Free! Use Product Samples to Boost Your Business
Quick Quiz
Each month I’ll give you a new question.
Just reply to this email for the answer.
What do you study if you are a dendrologist?
Why Not Pass Me On?
If you've enjoyed this newsletter and found its information useful, please pass it to another businsses owner or a co-worker.
Worth Reading
Selections from the best articles seen online this month.
The 20 Most Important Questions in Business
The 20 most important questions that entrepreneurs need to answer - and continue answering - in order to build successful enterprises.
How to Build a Bootstrapping Culture
Some tips to the art of building a business with little or no cash.
The Forever Recession
The networked revolution is creating huge profits, significant opportunities and a lot of change. What it's not doing is providing millions of brain-dead, corner-office, follow-the-manual middle-class jobs. And it's not going to. Fast, smart and flexible are embraced by the network.
A Practical Plan for When You Feel Overwhelmed
by Peter Bregman, in the Harvard Business Review Blogs
Working within a specific and limited time frame is important because the race against time keeps us focused. When our stress is generalized, it's diffuse, which makes it hard to manage. Using a short time frame actually increases the pressure, but it keeps our effort specific and particular to a single task.
BOOK REVIEW
The Obvious Expert, by Elsom Eldridge Jr.
It's become pretty much accepted that one of the most powerful ways to market your business is to position someone within that business as a subject-matter expert.
Hundreds of books have been written on the subject, but few match the authority of one of the first, The Obvious Expert.
The book contains 11 tactics for positioning yourself as a trusted advisor, including publish books and reports, speak on the lecture circuit, publish your own newsletter, write magazine and journal articles, and create a content-based website.
This book distinguishes itself by the sheer volume of actionable information it contains. Every detail of each of the tactics it espouses is nailed down, making it easy to implement the book's advice.
On top of that are quotes from 189 expert advisors who share their results from implementing the tactics in the book. That makes the book inspiring and proves that the tactics actually work.
"Free" is a powerful marketing word. The prospect of getting something for nothing is a surefire attention-getter, something you can use to generate interest in your business, build your brand and grow your customer base.
For a small retail or manufacturing business, giving away free samples is way more effective than a single media advertising exposure. According to studies, more than 50% of shoppers try products they would not ordinarily consider because of a free sample.
There are many other benefits, too. For example, free samples give people something to talk about. A freebie puts your product in the hands of prospects. Free samples are a great way to persuade retailers to add your product to their shelves. Freebies can also drive traffic to your website and boost your search engine rankings.
Free samples are one of the most cost-effective marketing techniques available. If you divide your advertising budget by the number of new customers you expect to generate and then compare the advertising cost per customer with the cost of a free-sample promotion, usually the free-sample promotion is a winner.
You should also consider how you want to distribute your free samples. Focusing on individuals who are most likely to use your product or service will maximize your results. Trade shows and industry events reach broad audiences, while online advertising can reach an unlimited number of potential customers. Street fairs and craft shows can also be good venues for distributing samples. Think about pairing your free sample with coupons or other special offers.
In addition to attracting new business, you can also use samples to thank customers for repeat business or referrals. And if you're thinking of launching a new product, market test it by offering free samples and soliciting feedback.
MANAGEMENT
Is It Time to Consider Hiring an Office Manager?
The importance of a good office manager shouldn't be underestimated. Such a person can free you from mundane, time-consuming tasks and enable you to focus on the fundamentals of running your business, serving your customers and generating revenue.
An office manager's duties can range from feeding plants to feeding egos. In some firms, the office manager may be a secretary or receptionist. In others, the office manager may take on bookkeeping responsibilities or act as a technology troubleshooter.
Tasks that often fall to an office manager include the following:
- Answering the phones
- Greeting and reception, including signing for deliveries, receiving and distributing mail
- Ordering and maintaining supplies
- Overseeing operation and maintenance of computers, printers and other office equipment
- Filing invoices, receipts, client information, and other important documents
- Bookkeeping, including client invoicing, paying bills, and handling petty cash
- Human resource duties such as compiling employee hours, doing payroll and maintaining personnel files
An office manager needs to relate to virtually everyone in the workplace, including clients, vendors, suppliers and co-workers. The ideal manager has a friendly, upbeat personality, is comfortable with organization and responsibility, can be firm and confident about making decisions, and is able to handle conflict. Other important qualities are good math skills and a thick skin. Be prepared to pay good money for a first-rate office manager. The alternative is to do all the tasks yourself.
ENTREPRENEURSHIP
How a Coach Can Encourage You Toward Success
Most entrepreneurs love what they do but are less enamored with the details of running a business. The struggle to keep a business afloat can sap an owner of joy, passion and enthusiasm.
A business coach can help small-business owners see the big picture and stay focused. Like sports coaches, business coaches work to bring out the best of what's within. They do this by providing guidance, information and encouragement, helping small-business owners think and act strategically.
A good business coach can offer advice and expertise when you need it, motivation and encouragement when you're discouraged, and insight into business strategies and opportunities.
In addition, a business coach can help you to:
- Prioritize tasks and manage your time effectively
- Deal with personnel issues
- Learn sales and marketing skills
- Evaluate options and assess new opportunities
- Improve cash flow
- Develop an action plan to take your business to the next level
- Boost morale and productivity
- Implement teambuilding strategies
Finding the time and having the expertise to manage all aspects of running a company can be overwhelming. Having a business coach as a confidante and mentor can make the difference between success and burnout.
Wisdom
Quotes by...Paul Newman
"If you don't have enemies, you don't have character."
"The embarrassing thing is that the salad dressing is outgrossing my films."
"Money won is twice as sweet as money earned."
