Visit my new blog – ‘V.G. Prakaash’

Hello. This blog will no longer receive any new post. Please visit my new blog, V.G. Prakaash. I’ve incorporated the theme of this blog to the new one. Please continue to support me by subscribing to my new blog. Thank you. Bye!

New Beginnings!

Hi. Sorry I’ve not been posting for some time now. Last month I’ve been revamping some of my business systems. So, there is indeed a change awaiting all my blogs. I’m incorporating 3 of my blogs into one unique blog. This blog will exclusively discuss small business issues. Feedback from readers have promted me to combine all the 3 themes into one blog. It will be easy for you to navigate through the various categories in small business. This blog will also include more videos & podcasts, as requested by some readers. I thank all of you who have commented as you have helped the blog to evolve. I’ll give more details about the blog in the later part of the month. I’ll continue to write articles that will help you with your business. See you soon. Bye!

Happy New Year

My team and I wish you a very Happy New Year. Hope that 2010 will bring you more prosperity and happiness. Wish your business will soar in 2010!

8 Simple Factors To Consider When Marketing

After performing your self-analysis mentioned in the previous post, please do consider the following factors I’ve listed below when devising your marketing plans for 2010. Just don’t embark on a marketing campaign without planning. However, keep it simple. Just focus on these factors if you are the sort who hates to read books on planning. These are crucial factors to incorporate into your planning:-

1. Budget – Your plan must be within your allocated budget. Thus you must estimate the cost and allocate the cash for your marketing campaign even if the cost is really low.

2. Resources – Your marketing plan must be within your operating capabilities. It has to be realistic. Thus determine your key resources availability and assess whether they are adequate for your plans. Key resources are IT, HR, Inventory, etc.

3. Marketing Strategies – Make a list of all the marketing strategies you deem fit for your business, eg, cold calling, affinity marketing, printed brochures, etc. You should come up with the appropriate ones from your self-analysis of your marketing plans from 2009.

4. Target Market – Finalize your target market. Choose the appropriate marketing strategies for your campaign for the targeted market from the list you devised earlier.

5. Urgency – How fast you need your marketing campaign to bring in results? If you choose strategies that will take time, for eg, time taken to establish relationship, you must be prepared for it.

6. Time – How much time you are able to allocate to your marketing. Especially for social media campaigns, you can’t spend the whole day on twitter. Thus, set realistic goals and priorities.

7. USP – Unique Selling point must be re-affirmed before devising any plans. You must know your differentiating factor as it will help you to devise efficient and innovative marketing campaigns.

8. Measuring results – decide how you are going to measure the success of your marketing. Analytics is a must if you are involved in internet or social media marketing. (I’ll include a post on measuring marketing success for small business next month)

You should mould all these factors into one big marketing plan. Planning can be simple. Small business owners do not need to stress about it. With experience you’ll be able to identify and implement the right marketing for your business more efficiently.

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Merry Christmas

My team and I wish you a very merry Christmas! Hope today is filled with fun and happiness. Make merry with family and friends!

Self-Analysis to Devise 2010 Marketing Plan

As the year 2009 is ending, it is now necessary to look back at your marketing plans this year. An analysis of your marketing mistakes will yield fresh perspectives for your marketing plans for the year 2010. You don’t need any marketing consultant to review your marketing (unless you have the cash for such services!). You just need to ask yourself the right questions and perform a self-analysis. Some of the questions you need to ask:-

1. Which strategies produced results?
2. Why did some strategies fail?
3. What are the contributing factors for your bad marketing campaign?
4. What are your best and worst strategies?
5. What factors contributed to successful marketing campaign?
6. Is your assessment of your marketing right and adequate?
7. How to improve your marketing?
8. What elements to eliminate from your marketing campaign?
9. What elements are missing from your marketing campaign?
10. Was your market research information accurate?

Come up with as much questions as possible. Use when, what, which, what if, & how. From your self-analysis, you’ll be able to devise an effective tailor-made 2010 marketing plan, exclusive only to your business. If you have more questions to add for the self-analysis, please add your comments. Thanks

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Customers’ Attitude For Christmas: See, Spot, Run!

Your customers will be rushing at the last minute. I don’t think they will spend too much time at one store because they would want to check out all the bargains at every store. If you can adapt your business to their behavior, it will be an advantage to you. Firstly, they must see your business. Make sure your visibility is good. Showcase good price deals on displays, banners, posters or flyers. Nice Christmas decorations should be inviting them in as well. Once they are in, help them to spot the products they want quickly. Strategic displays and efficient sales staffs should help you achieve it. Their point of contact with your store is usually your frontline sales employees. So make sure you train them well to help customers spot the products quickly. Thirdly, the point of sale must be easy. Devise a plan for your store to accept payments easily and quickly, so as to avoid long queues or chaos. Customers want to pay as quickly as possible so that they can run away to visit other stores. Point of contact and point of sale are discussed more in detail in my ebook.

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5 Value-Added Services That Will Increase Sales This Christmas

If your small business can accommodate these special value-added services for Christmas, your customers will really appreciate you and would become your most loyal customers:-

1. Free gift-wrapping service

2. Free installation or assembly

3. 24 hr customer support service (via phone or online)

4. Free shipping

4. Shipping available on Dec 24th and Dec 25th

5. Open on Christmas day

If you provide any other special services for your customers for Christmas, please share it with me on this blog. I’ll appreciate your comments.

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9 VERY Last-Minute Christmas Marketing Tips

Last minute sales are very crucial for small businesses especially for this Christmas. Try out these ideas for more sales:-
1. Send out flyers or brochures about your last-minute deals.

2. Put up last-minute sales banners or posters on display. Make sure any information on discounts, free gifts, free coupons or free complimentary services are shamelessly exhibited.

3. Ask a sales staff to stand out in the streets to invite customers into your store.

4. Use twitter, facebook or other social networking sites to announce your last-minute sales. Create some last minute buzz about your business. Go viral!

5. Cross-sell and Up-sell! Package or bundle these products.

6. Grab attention by outstanding Christmas decorations.

7. Strategically showcase your gift items on sale.

8. Give out free samples on-site.

9. Volunteer in church or charitable activities. Leverage on affinity marketing.

If you have any other innovative last-minute ideas, please send them to me. Thanks.

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5 Effective Christmas Marketing Strategies For Your Existing Customers

1. Referrals:- Don’t underestimate the power of word of mouth. Provide coupons, free delivery or other special value-added services that will make your existing customers want to recommend you to their friends. However you must provide incentives to those who refer. Entice them with coupons or free gifts.

2. Cold Calls:- Do not fear making cold calls. Your old and new customers are looking out for special deals this time of the year. So tell them what you have to offer. Prepare a script that will grab their attention. Make them order immediately or at least invite them over to your store or website. Your invitation to visit the store or website would be useless unless there is some apparent incentives or benefits for them to take up your call for action.

3. Direct Marketing:- Make house calls. Some consumers do not like the crowd or hassle of Christmas shopping. So bring the shop to them. Knock on their doors, present them a small gift and then introduce your products or services. Use your sales charm to encourage them to buy.

4. E-mail marketing:- send out an e-Christmas card, e-newsletter or e-coupons together with an e-mail introducing your Christmas deals. Invite them to visit your website or store. In the e-mail indicate that these deals are only for existing customers so that they feel special. Indicate incentives for shopping early.

5. Online marketing:- An increasing amount of consumers are shopping online or at least surfing the internet for information about their shopping needs. By now you should have revamp your website to include your Christmas deals. Fine tune your website so that your existing customers can order online or at least find a phone number to call to reserve or order. Search engine optimization too needs to be re-aligned to your Christmas marketing campaign. Write articles or use social media to boost your online visibility this Christmas.

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