IBISWorld Special Report Sept 2010 details the best and worst industries for startups in 2011.
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Contact admin@finetunebiz.com
Thursday, September 30, 2010
Wednesday, September 29, 2010
Create a Sales Epidemic For Your Product or Service
Micro and Small businesses think in terms of increasing sales steadily. A few percent a year, maybe more. Our brains are programmed to think that way. Take this example. If you could fold a piece of paper 50 times, how thick would it be? It startles most people when they hear that the answer is as thick as the distance to the sun!
In this article we’ll show you how you can change your marketing thinking and how you can finetune your marketing plan to make your product or service sales explode like an epidemic.
In many businesses people are content with slow and steady sales and that’s the way they market. Other businesses are really quite unprepared for sales explosions. Colour TV, mp3 players, washing machines and even mobile phone technology didn’t grow sales by a fixed amount every year. Sales exploded like and epidemic and companies were really unprepared to meet the unpredicted demand.
Bass was the first to introduce the mathematics of this theory to product technology uptake. Malcolm Gladwell, in his seminal book, The Tipping Point popularised the idea and turned it into layman’s language.
The graph shows what we mean. The horizontal axis is time and the vertical axis is cumulative sales revenue. For a while nothing much seems to happen. Sales hardly rate on the radar even though you have a good marketing plan and are following through diligently. Then there’s a real ‘ramp upwards’. It seems as if you don’t need to do anything any more to make sales happen; they just explode. This upward curving is the tipping point from which time on sales simply ‘take-off’ at a rate that defies explanation.
So what happens to cause the upward ramp? A few people here and there buying your product or service gives you a sales increase that’s linear. But what if you have just a few key buyers who are influential. Like a fashion designer that uses your accessories on the catwalk, or a key customer that simply must buy your coffee or your cupcakes. Those customers spread the word for you because they are influential. One customer influences many; and with a critical mass your product sales explode like a multiplying virus.
What can you do in your business?
1. Have a product or service offering that is very clearly distinguished from the competition. If you have no point of difference you cannot expect a sales explosion.
2. Know or learn how to identify that key customer(s). Opinion leaders for your product or service. Get there feedback, provide the very best service. Do whatever it takes.
FineTunebiz was once asked, ‘who is your ideal customer?’ Our answer; ‘Any influential client who knows lots and lots of people who our service and who is so clearly impressed with our service and advice that they tell the people they know that they must use FineTunebiz.’ That single customer is our ideal customer because one customer leads to many more…and so on.
Michael Jackson didn't invent the moonwalk. But he was the one to make it an 'epidemic' worldwide.
Michael Jackson didn't invent the moonwalk. But he was the one to make it an 'epidemic' worldwide.
Reasses your marketing plan now.
Thursday, September 23, 2010
What's Wrong With Business Plan Templates?
We're going to give you the heads up on business plans!
Firstly, very few people we see have them, so it's clearly possible to start and run a business without one.
So why have one? we think there's a really simple answer to this question, and it's because it minimises your risk. Consider two identical businesses. Identical location, identical skills. Our experience is that the owner who plans minimises risk; hence wasting less capital and developing faster traction in the market.
What is a business plan anyway? A business plan has the following key features. It is a sequential document in which you write answers to key questions structured in a particular order. It's sequential because, for example, you need to know how things like your premises needs before you go out and sign a lease. The answers to these sequential questions determine your branding and marketing plan so that your customer offering has a consistent look and feel. During the planning process unique strategies will emerge that you will collect in a strategic plan. The strategic plan is broken down into an action plan and money flows will be summarised in a cash flow statement.
When do I really, really need a business plan? A business plan is essential if you're applying for finance because it's like a viability assessment.
Where can I get a good business plan template? Right here:http://finetunebiz.com/services.htm . Scroll down until you find the Resources heading.
Need more information?
Contact admin@finetunebiz.com
Firstly, very few people we see have them, so it's clearly possible to start and run a business without one.
So why have one? we think there's a really simple answer to this question, and it's because it minimises your risk. Consider two identical businesses. Identical location, identical skills. Our experience is that the owner who plans minimises risk; hence wasting less capital and developing faster traction in the market.
What is a business plan anyway? A business plan has the following key features. It is a sequential document in which you write answers to key questions structured in a particular order. It's sequential because, for example, you need to know how things like your premises needs before you go out and sign a lease. The answers to these sequential questions determine your branding and marketing plan so that your customer offering has a consistent look and feel. During the planning process unique strategies will emerge that you will collect in a strategic plan. The strategic plan is broken down into an action plan and money flows will be summarised in a cash flow statement.
When do I really, really need a business plan? A business plan is essential if you're applying for finance because it's like a viability assessment.
Where can I get a good business plan template? Right here:http://finetunebiz.com/services.htm . Scroll down until you find the Resources heading.
Need more information?
Contact admin@finetunebiz.com
How Does Your Business Measure Up?
How does your business compare financially to other similar businesses?
Many micro and small businesses don't have a comparison or benchmark. The first benchmark you should use is your own budget. Set one up using FineTunebiz Cashbook and monitor your financial performance against your own budget. If you have been in business for more than a year then monitoring your performance against budget means you are monitoring your performance against your past performance too; because each year you will set your budget bar a little higher than the last. That way you're striving to do better each year.
Next, compare yourself to industry benchmarks for your industry type. The Financial Measurements Research Corporation (FMRC) benchmarks for 2010 have now been released. Eventually you'll want to at least do as well as the average to make sure you are financially competitive.
Need more information?
Contact us admin@finetunebiz.com
Many micro and small businesses don't have a comparison or benchmark. The first benchmark you should use is your own budget. Set one up using FineTunebiz Cashbook and monitor your financial performance against your own budget. If you have been in business for more than a year then monitoring your performance against budget means you are monitoring your performance against your past performance too; because each year you will set your budget bar a little higher than the last. That way you're striving to do better each year.
Next, compare yourself to industry benchmarks for your industry type. The Financial Measurements Research Corporation (FMRC) benchmarks for 2010 have now been released. Eventually you'll want to at least do as well as the average to make sure you are financially competitive.
Need more information?
Contact us admin@finetunebiz.com
Tuesday, September 21, 2010
Email Marketing Tips
With web-based applications like www.mailchimp.com it's very easy to set up mailing lists and keep your customers informed. Here are some tips to maximise the benefit from your email marketing campaign.
Get Permission
Make sure you get subscribers' permission to add them to your mailing list. Without permission you risk losing customer loyalty and your ISP can end up being banned if there are complaints against you. Emails should have an Unsubscribe link so that customers can opt out of receiving your emails.
Reflect the Look and Feel of Your Business
Design is important. A scruffy-looking email that's not visually interesting is not going to get much attention. Get your graphic designer to give your email the look and feel of your business so customers know immediately where it's from.
Target Specific Customers
Keep your mailing list targeted. Have multiple mailing lists if your business offering is broad. That way you will ensure that recipients really are interested in your product or service.
What Do I Write?
Two things to keep in mind. First, readers scan emails so ensure the key points are easily picked up. Use dot points or a summary so the reader can go straight to the information they are interested in. Secondly, make sure there is a strong call to action, so the reader knows what you'd like them to do.
How Often Should I send emails?
It takes time to build customer relationships. It used to be said that around 7 impacts were required to make an impression. Today, many people believe it's more like 20! Touch your clients at least once a month or they might go elsewhere.
Need more information?
admin@finetunebiz.com
Get Permission
Make sure you get subscribers' permission to add them to your mailing list. Without permission you risk losing customer loyalty and your ISP can end up being banned if there are complaints against you. Emails should have an Unsubscribe link so that customers can opt out of receiving your emails.
Reflect the Look and Feel of Your Business
Design is important. A scruffy-looking email that's not visually interesting is not going to get much attention. Get your graphic designer to give your email the look and feel of your business so customers know immediately where it's from.
Target Specific Customers
Keep your mailing list targeted. Have multiple mailing lists if your business offering is broad. That way you will ensure that recipients really are interested in your product or service.
What Do I Write?
Two things to keep in mind. First, readers scan emails so ensure the key points are easily picked up. Use dot points or a summary so the reader can go straight to the information they are interested in. Secondly, make sure there is a strong call to action, so the reader knows what you'd like them to do.
How Often Should I send emails?
It takes time to build customer relationships. It used to be said that around 7 impacts were required to make an impression. Today, many people believe it's more like 20! Touch your clients at least once a month or they might go elsewhere.
Need more information?
admin@finetunebiz.com
Monday, September 20, 2010
Do You Think My Business Idea Will Work?
'Do you think my business idea will work?'
We're often asked this question by aspiring new business owners full of enthusiasm and energy.
But really, we can't answer the question except to ensure that you minimise your risk with a business plan, a structured marketing plan and good financial control.
Who would of thought that http://www.citychicks.com.au/ is now turning over $500,000 p.a. with an on line business! You won't believe what they sell!
For more unusual ideas that made it, check out: http://www.businessday.com.au/small-business/entrepreneur/chook-nappies-and-cuckoo-clocks-business-with-a-twist-20100916-15d6r.html
Dimock, who runs the business, has this advice for innovators:
'think hard, ask questions. Check a demand for your product exists and that you can afford to get the word out.'
Need more info?
admin@finetunebiz.com
We're often asked this question by aspiring new business owners full of enthusiasm and energy.
But really, we can't answer the question except to ensure that you minimise your risk with a business plan, a structured marketing plan and good financial control.
Who would of thought that http://www.citychicks.com.au/ is now turning over $500,000 p.a. with an on line business! You won't believe what they sell!
For more unusual ideas that made it, check out: http://www.businessday.com.au/small-business/entrepreneur/chook-nappies-and-cuckoo-clocks-business-with-a-twist-20100916-15d6r.html
Dimock, who runs the business, has this advice for innovators:
'think hard, ask questions. Check a demand for your product exists and that you can afford to get the word out.'
Need more info?
admin@finetunebiz.com
Saturday, September 18, 2010
45 Bits of Wisdom
45 bits of wisdom
1. Life isn't fair, but it's still good.
2. When in doubt, just take the next small step.
3. Life is too short to waste time hating anyone.
4. Your job won't love you when you’re old.
5. Pay off your credit cards every month.
6. You don't have to win every argument. Agree to disagree.
7. Cry with someone. It's more healing than crying alone.
8. It's OK to get angry with God. He can take it.
9. Save for retirement starting with your first pay.
10. When it comes to chocolate, resistance is futile.
11. Make peace with your past so it won't bugger up the present.
12. It's OK to let your children see you cry.
13. Don't compare your life to others. You have no idea what their journey is all about.
14. If a relationship has to be a secret, you shouldn't be in it.
15. You can change any attitude you hold or perspective you have, in a heartbeat.
16. Take a deep breath. It calms the mind.
17. Get rid of anything that isn't useful, beautiful or joyful.
18. Whatever doesn't kill you really does make you stronger.
19. It's never too late to have a happy childhood. The second one is up to you and no one else.
20. When it comes to going after what you love in life, don't take no for an answer.
21. Burn the candles, use the nice sheets, wear the fancy lingerie. Don't save it for a special occasion. Today is special.
22. Over prepare, and then go with the flow.
23. Be eccentric now. Don't wait for old age to wear purple.
24. The most important sex organ is the brain.
25. No one is responsible for your happiness except you.
26. Frame every so-called disaster with these words 'In five years, will this matter?'
27. Always choose life.
28. Forgive everyone everything.
29. What other people think of you is none of your business.
30. Time heals almost everything. Give time, time.
31. However good or bad a situation is, it will change.
32. Don't take yourself so seriously. No one else does.
33. Believe in miracles.
34. You’re better than you think you are.
35. Don't audit life. Show up and make the most of it now.
36. Growing old beats dying young.
37. Your children get only one childhood.
38. All that truly matters in the end is that you loved.
39. Get outside every day. Miracles are waiting everywhere.
40. If we all threw our problems in a pile and saw everyone else's, we'd grab ours back.
41. Envy is a waste of time. You already have everything you need.
42. The best is yet to come.
43. No matter how you feel, get up, dress up and show up.
44. Yield.
45. Life isn't tied with a bow, but it's still a gift.
Do you know the Author?
Thursday, September 16, 2010
Need a printed copy of all blog posts?
Simply type http://www.finetunebiz.blogspot.com/search?max-results=1000 into your browser and select print from your browser to print a maximum of 1000 blog entries.
http://www.finetunebiz.com/
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Wednesday, September 15, 2010
Business Tips from Janine Allis - Boost Juice
Janine Allis, founder of Boost Juice presented a keynote address entitled A Juicy Success Story at the Small Business Development Conference 2010 held in Cairns, Qld.
An inspiring speaker and a remarkable success story.
Here are her tips from my notes:
1. Be enthusiastic
2. Learn quickly from mistakes
3. Get the best people - they are the essence and don't settle for mediocrity
4. Give yourself time to work on your business
5. Attach problems hard
6. Build a business full of 'what-if's'
7. Have the attitude that it can't fail
8. Take time off to look after yourself
VERB or SOAR People
Some people believe they are the Victim, are Entitled, will be Rescued, or someone else is to Blame.
Others believe problems have Solutions, take Ownership, are Accountable and Responsible.
So SOAR!
more info from admin@finetunebiz.com
An inspiring speaker and a remarkable success story.
Here are her tips from my notes:
1. Be enthusiastic
2. Learn quickly from mistakes
3. Get the best people - they are the essence and don't settle for mediocrity
4. Give yourself time to work on your business
5. Attach problems hard
6. Build a business full of 'what-if's'
7. Have the attitude that it can't fail
8. Take time off to look after yourself
VERB or SOAR People
Some people believe they are the Victim, are Entitled, will be Rescued, or someone else is to Blame.
Others believe problems have Solutions, take Ownership, are Accountable and Responsible.
So SOAR!
more info from admin@finetunebiz.com
Australian Bureau of Statistics Publications
The ABS is a great source of information for Small Business.
This is the link for their Business Publications:
http://www.abs.gov.au/websitedbs/D3310114.nsf/home/ABS+small+business+data
This is the link for their Business Publications:
http://www.abs.gov.au/websitedbs/D3310114.nsf/home/ABS+small+business+data
A Must See Website
www.business.gov.au is a must-see website. There's a wealth of information and fantastic resources. Add it to your favourites!
Wednesday, September 8, 2010
Is Staff Training Worth the Money?
Your micro or small business is growing and you need to take on staff to help your business grow.
But... you're thinking... staff training costs money, so you'll put that aside for another year. Besides, after you train them they might leave!
Consider this;
'There's only one thing worse than paying for staff training and then they leave, and that's not training and they stay!'
Staff training pays! Make it a part of the way you do business.
Need more information?
admin@finetunebiz.com
http://www.finetunebiz.com/
But... you're thinking... staff training costs money, so you'll put that aside for another year. Besides, after you train them they might leave!
Consider this;
'There's only one thing worse than paying for staff training and then they leave, and that's not training and they stay!'
Staff training pays! Make it a part of the way you do business.
Need more information?
admin@finetunebiz.com
http://www.finetunebiz.com/
Free CRM Software
Manage customer contacts with our free CRM software!
Easily enter comments for different contact dates for individual customers;
See the resources section of the Services page of http://www.finetunebiz.com/ to download your free copy.
Select Save after clicking the link. Unzip the downloaded file then double click the setup.exe file. A comprehensive User Guide is provided with the application.
If you do not have Microsoft Access 2007 installed on your computer, you will need to install Microsoft Access runtime first, available here:
http://www.microsoft.com/downloads/details.aspx?familyid=d9ae78d9-9dc6-4b38-9fa6-2c745a175aed&displaylang=en
http://www.finetunebiz.com/
admin@finetunebiz.com
Easily enter comments for different contact dates for individual customers;
See the resources section of the Services page of http://www.finetunebiz.com/ to download your free copy.
Select Save after clicking the link. Unzip the downloaded file then double click the setup.exe file. A comprehensive User Guide is provided with the application.
If you do not have Microsoft Access 2007 installed on your computer, you will need to install Microsoft Access runtime first, available here:
http://www.microsoft.com/downloads/details.aspx?familyid=d9ae78d9-9dc6-4b38-9fa6-2c745a175aed&displaylang=en
http://www.finetunebiz.com/
admin@finetunebiz.com
Monday, September 6, 2010
Write Your Business Plan
Don't have a business plan?
Consider writing one because the time to establishment of your business depends upon planning!
Download the proforma and come along to the 3hr short course.
http://www.finetunebiz.com/_download/wyobp.doc
Contact admin@finetunebiz.com for details.
Consider writing one because the time to establishment of your business depends upon planning!
Download the proforma and come along to the 3hr short course.
http://www.finetunebiz.com/_download/wyobp.doc
Contact admin@finetunebiz.com for details.
Is there a Management Reference Book?
We're often asked if there is a single Management reference book we could recommend.
With thousands of books and articles on management it's a reasonable question!
The best of the best is:
Business, The Ultimate Resource
-Perseus Publishing
It's a hefty tome filled with useful reference information.
Contact us at admin@finetunebiz.com if your are after something specific.
FineTunebiz
With thousands of books and articles on management it's a reasonable question!
The best of the best is:
Business, The Ultimate Resource
-Perseus Publishing
It's a hefty tome filled with useful reference information.
Contact us at admin@finetunebiz.com if your are after something specific.
FineTunebiz
Friday, September 3, 2010
Business Premises Leasing Checklist
Are you about to sign a lease for premises for your new business?
Leases in Australia are watertight documents that you cannot just walk away from if things don't turn out. Of course, you can sell the business and effectively transfer the lease, but you'd rather not contemplate the alternative of declaring bankruptcy.
Leasing costs - or rent - is going to be a major cost in running your business so it pays to do your homework.
Make sure you can pay the rent if your fit out takes longer than expected (which it always does). A budget is critical to ensure you can meet the expected start up costs. Use FineTunebiz Cashbook to set up your budget.
Leasing Checklist
1. Do you really need premises?
2. If passing customers ('foot flow') traffic is important, for example, a coffee shop, is the location the best possible for the rental? Consider aspects such as availability of parking if relevant and the type of customer you wish to attract. A coffee shop in an amusement arcade for teenagers might not be such a good idea!
3. Make sure you understand what you are signing. Only a solicitor can provide you with this information. At the minimum ask: lease term, yearly rent increases, who pays for any additional fees and charges such as council rates, body corporate and insurance.
4. Have you negotiated the best possible square metre rate? Ask neighboring tenants what they pay or check with local real estate agents. If you are paying too much it will be harder for your product or service to be cost competitive.
5. Ask your solicitor to explain any non-standard or unusual clauses. You need to understand what you are signing.
FineTunebiz
Leases in Australia are watertight documents that you cannot just walk away from if things don't turn out. Of course, you can sell the business and effectively transfer the lease, but you'd rather not contemplate the alternative of declaring bankruptcy.
Leasing costs - or rent - is going to be a major cost in running your business so it pays to do your homework.
Make sure you can pay the rent if your fit out takes longer than expected (which it always does). A budget is critical to ensure you can meet the expected start up costs. Use FineTunebiz Cashbook to set up your budget.
Leasing Checklist
1. Do you really need premises?
2. If passing customers ('foot flow') traffic is important, for example, a coffee shop, is the location the best possible for the rental? Consider aspects such as availability of parking if relevant and the type of customer you wish to attract. A coffee shop in an amusement arcade for teenagers might not be such a good idea!
3. Make sure you understand what you are signing. Only a solicitor can provide you with this information. At the minimum ask: lease term, yearly rent increases, who pays for any additional fees and charges such as council rates, body corporate and insurance.
4. Have you negotiated the best possible square metre rate? Ask neighboring tenants what they pay or check with local real estate agents. If you are paying too much it will be harder for your product or service to be cost competitive.
5. Ask your solicitor to explain any non-standard or unusual clauses. You need to understand what you are signing.
FineTunebiz
Starting a New Business: Have You missed Something Important?
Starting a new business and wondering if you've missed something?
Feel like you're standing on the railway track with a freight train heading straight towards you?
Yes! we are asked this question. First thing we ask to see is the business plan - and you guessed it - there isn't one.
So here's the tip: Write a business plan!
And... if you really are not going to write one because it scares you, then use each major heading in a good business plan proforma as a mental check list.
More than likely you can save yourself a lot of sleepless nights by doing just a little bit of homework.
Minimise your risk! Call or email us now.
admin@finetunebiz.com
FineTunebiz
Feel like you're standing on the railway track with a freight train heading straight towards you?
Yes! we are asked this question. First thing we ask to see is the business plan - and you guessed it - there isn't one.
So here's the tip: Write a business plan!
And... if you really are not going to write one because it scares you, then use each major heading in a good business plan proforma as a mental check list.
More than likely you can save yourself a lot of sleepless nights by doing just a little bit of homework.
Minimise your risk! Call or email us now.
admin@finetunebiz.com
FineTunebiz
Value For Money and the Power of Free
Here's how you can offer your customers' value for money!
Mrs Smith rings Green Thumb Garden Services and asks, 'how much to mow my lawn, it's not very big?'
'Where do you live Mrs Smith?' asks George.
'Kew' she replies.
'I'm there tomorrow, would it suit if I came around and had a look, it's very difficult to quote over the phone'?
(value for money proposition goes up - George from Green Thumb Garden services cares!).
George arrives on time.
(value for money proposition goes up another notch - George has arrived on time).
George greets Mrs Smith and pays careful attention to her needs. It's not just a lawn and garden, it's her passion, pride and joy.
(value for money proposition goes up again - George understands the customers' needs).
'Your hedge is not all that large, so I think I can trim that for free if you'd like me too', says George.
(value for money proposition goes up again).
'...and I'll clean up with the blower and remove the clippings to keep everything tidy', says George.
(value for money proposition goes up another notch - George cares).
I'm in the area every 6 weeks, and I can do the lot for $45.
George hasn't quoted an hourly rate and in Mrs Smith's mind is providing real value for money. George gets the job!
And George can expect referrals because Mrs Smith tells her friends that she has found someone who cares and offers value for money.
As time goes by, George also replants, prunes, makes suggestions for fertilising and gets more work from Mrs Smith.
Call or email now for value for money strategies for your business!
admin@finetunebiz.com
FineTunebiz
Mrs Smith rings Green Thumb Garden Services and asks, 'how much to mow my lawn, it's not very big?'
'Where do you live Mrs Smith?' asks George.
'Kew' she replies.
'I'm there tomorrow, would it suit if I came around and had a look, it's very difficult to quote over the phone'?
(value for money proposition goes up - George from Green Thumb Garden services cares!).
George arrives on time.
(value for money proposition goes up another notch - George has arrived on time).
George greets Mrs Smith and pays careful attention to her needs. It's not just a lawn and garden, it's her passion, pride and joy.
(value for money proposition goes up again - George understands the customers' needs).
'Your hedge is not all that large, so I think I can trim that for free if you'd like me too', says George.
(value for money proposition goes up again).
'...and I'll clean up with the blower and remove the clippings to keep everything tidy', says George.
(value for money proposition goes up another notch - George cares).
I'm in the area every 6 weeks, and I can do the lot for $45.
George hasn't quoted an hourly rate and in Mrs Smith's mind is providing real value for money. George gets the job!
And George can expect referrals because Mrs Smith tells her friends that she has found someone who cares and offers value for money.
As time goes by, George also replants, prunes, makes suggestions for fertilising and gets more work from Mrs Smith.
Call or email now for value for money strategies for your business!
admin@finetunebiz.com
FineTunebiz
How to Write An Effective Brochure
Want to write a promotional brochure for your business just like the professionals?
It's easy when you know how!
Here's the magic formula: Attention Interest Desire Action.
The structure of promotional material starts with getting the readers' Attention.
Then something to capture and hold their Interest.
Then something simple to create Desire. It's the 'yeah, I want it' moment.
Lastly, end with a call to Action, like 'limited offer - call now.'
And don't forget!
1. The power of customer testimonials; it's the next best thing to word of mouth.
2. Clean, uncluttered layout and eye catching design.
3. Professional printing.
Call or email FineTunebiz today - we'd love to help you!
FineTunebiz.
It's easy when you know how!
Here's the magic formula: Attention Interest Desire Action.
The structure of promotional material starts with getting the readers' Attention.
Then something to capture and hold their Interest.
Then something simple to create Desire. It's the 'yeah, I want it' moment.
Lastly, end with a call to Action, like 'limited offer - call now.'
And don't forget!
1. The power of customer testimonials; it's the next best thing to word of mouth.
2. Clean, uncluttered layout and eye catching design.
3. Professional printing.
Call or email FineTunebiz today - we'd love to help you!
FineTunebiz.
The Secrets of Marketing
'Help me market my business!' is one of the top three questions we are asked. You have a product or service but it seems easier to climb Mt Everest up the steep face than prepare a marketing plan.
Download and print the free FineTunebiz Marketing Matrix using this link http://www.finetunebiz.com/_download/Marketing%20Matrix.pdf . There are a number of examples in the download and we'll use the first example 'Plumber' to show you the secrets of marketing.
In the first column, write down your Customer Type. For example, domestic breakdown, domestic installations and commercial repairs.
In the next column, write down What the Customer Wants and Needs. This helps you get into the customers' head space - to know what they are feeling.
In the next column, write down How the Product or Service Solves the Customers' Problem. It is what you will do to meet what the customer wants and needs.
In the next column, write down the Most Likely Purchase Decision Points. That means where the customer is when they make a purchasing decision. Write down everything you can think of because we're going to figure out how to reach the customer in the environment they are making a decision in, or at the very least where they are likely to be as a group and what they read or watch.
In the last column, brainstorm all of the possible Promotional Strategy Options.
Now compare the example answers for Domestic Breakdown with the answers for Domestic Installation. The promotional strategy options are very different! When your hot water service breaks down you are most likely to reach for the local paper. When you are having a new house built you're very likely to make the decision to use a particular plumber on the basis of either word of mouth recommendation from friends or your builders own recommendation.
So, for domestic breakdown advertising in the local paper works. But builders are unlikely to read the paper to find a plumber. If you want to get into that market you will have to contact builders directly.
Secret 1: Your promotion and marketing is most effective when it's specific to a market segment. Your promotional material, dollar spend and even the words you use can then be specifically targeted to your customer.
Secret 2: When you examine the list of promotional strategy options, look for value for money. Go from low (or zero) cost to higher cost. Unless, of course, you're a Greek shipping magnate!
Here's another example.
You're a photographer. Decide your market segment (wedding, family, portraits, architectural, events, etc). Now imagine the customer is looking for a photographer for his daughter's wedding. The low cost and targeted promotional option is to leave a fantastic brochure and business card with celebrants, bridal boutiques and wedding reception venues. There is little point putting your brochure in letter boxes because the conversion rate will be very low.
Support the promotional material with a great website. Your customer is unlikely to select you if your website emphasises your architectural skills; so make sure your website reflects your target market.
Tips for Specific Business Types
We've had lots of experience helping specific business develop their marketing strategy.
Contact us now for more information and tips!
admin@finetunebiz.com
Download and print the free FineTunebiz Marketing Matrix using this link http://www.finetunebiz.com/_download/Marketing%20Matrix.pdf . There are a number of examples in the download and we'll use the first example 'Plumber' to show you the secrets of marketing.
In the first column, write down your Customer Type. For example, domestic breakdown, domestic installations and commercial repairs.
In the next column, write down What the Customer Wants and Needs. This helps you get into the customers' head space - to know what they are feeling.
In the next column, write down How the Product or Service Solves the Customers' Problem. It is what you will do to meet what the customer wants and needs.
In the next column, write down the Most Likely Purchase Decision Points. That means where the customer is when they make a purchasing decision. Write down everything you can think of because we're going to figure out how to reach the customer in the environment they are making a decision in, or at the very least where they are likely to be as a group and what they read or watch.
In the last column, brainstorm all of the possible Promotional Strategy Options.
Now compare the example answers for Domestic Breakdown with the answers for Domestic Installation. The promotional strategy options are very different! When your hot water service breaks down you are most likely to reach for the local paper. When you are having a new house built you're very likely to make the decision to use a particular plumber on the basis of either word of mouth recommendation from friends or your builders own recommendation.
So, for domestic breakdown advertising in the local paper works. But builders are unlikely to read the paper to find a plumber. If you want to get into that market you will have to contact builders directly.
Secret 1: Your promotion and marketing is most effective when it's specific to a market segment. Your promotional material, dollar spend and even the words you use can then be specifically targeted to your customer.
Secret 2: When you examine the list of promotional strategy options, look for value for money. Go from low (or zero) cost to higher cost. Unless, of course, you're a Greek shipping magnate!
Here's another example.
You're a photographer. Decide your market segment (wedding, family, portraits, architectural, events, etc). Now imagine the customer is looking for a photographer for his daughter's wedding. The low cost and targeted promotional option is to leave a fantastic brochure and business card with celebrants, bridal boutiques and wedding reception venues. There is little point putting your brochure in letter boxes because the conversion rate will be very low.
Support the promotional material with a great website. Your customer is unlikely to select you if your website emphasises your architectural skills; so make sure your website reflects your target market.
Tips for Specific Business Types
We've had lots of experience helping specific business develop their marketing strategy.
Contact us now for more information and tips!
admin@finetunebiz.com
Thursday, September 2, 2010
Everthing you ever wanted to know about leadership
Leadership Checklist.
Leaders know where they are heading. Without a goal or strategic plan there's really nothing to lead. Imagine going on a holiday without knowing where you're going! Do you have a strategic plan for your organisation and do staff know their role? No? - then you're not a leader because you don't know where North is and you cannot hope to engage them in your business.
Leaders communicate with goodwill, accountability and enthusiasm.
These are the personal qualities. Let's look at them one-by-one.
Goodwill. If you don't communicate with goodwill then why would your staff? Instead, they will spend some of their energy finding hidden meaning or agendas. Communicate with goodwill and expect the same from your staff. Goodwill also means you listen.
Accountability means doing what you say you will. If you don't, neither will your staff. Ever worked in an organisation full of bright ideas, a good strategic plan, lots of goodwill, but no follow through? That's called no-one being accountable. And it's a great way to waste money.
Enthusiasm doesn't mean jumping out of your skin every day. It means a genuine sense of adventure and learning. It means the opportunity to have a go to generate ideas, fine tune processes and procedures and respond to cusomters' needs. Why would your staff (or you for that matter) want to be part of something mundane?
So, how did you go? Are you a leader?
Need to know more - Contact FineTunebiz at admin@finetunebiz.com
Find out what your clients are saying about you on line
Want to track every mention of your business on line? Simply subscribe to the (free) Google alerts. It's like an automated world-wide press clipping service that sends you an email every time your business is mentioned.
http://www.google.com/alerts
http://www.google.com/alerts
Wednesday, September 1, 2010
Interactive Maps for Victorian Businesses
These interactive maps are well worth a look: http://www.invest.vic.gov.au/interactivemaps
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