Archives for February 2014

Business Coaching UK

Steve Mills - Business Advice UKSteve Mills, The Prudent Marketer, Encourages Businesses To Look At Recession As Chance For Enhancements

Steve Mills, The Prudent Marketer, has spoken out to all businesses in order to encourage them to use the recent recession as a launch pad for change. New statistics revealed have shown that the past twelve months have been very successful for small pockets of people, with online spending increasing significantly and entrepreneurs profiting generously from the last year or so; the man known as the Prudent Marketer is now urging businesses to use the volatility of the past few years as a prime opportunity to improve their marketing strategy and boost their profits.

Steve says, “The word ‘recession’ is described as a period of time shorter than a depression, during which there is a decline in economic trade and prosperity. Nowhere in this definition does it say that you need to be poor, nor does it say that you must succumb to failure and blame the recession for all the shortcomings of a business.

The businesses that are prospering now are the ones which are adapting their marketing models to the current economy and refusing to rest on their laurels. Marketing is key to profits, and all businesses should be focusing on how they can improve their marketing strategies rather than make cut-backs in this period.”

The advice is backed up by solid facts from recession periods throughout history. In the 1974-1975 recession, according to a Meldurm and Fewsmith study, companies which didn’t cut their marketing expenditures experienced higher sales and net income during the two years of the recession, and the two years following, than companies which made cuts to their marketing budgets.

Six years later in 1981-1982, B2B firms that increased marketing expenditure average higher sales growth both during the recession and in the three years immediately after.

Most recently in 1990-1991, firms which increased budgets and took on new staff members were twice as likely to pick up a substantial market share.

All of this anecdotal evidence points to a need for businesses to increase, rather than cut, their budgets in all things marketing; those which do will enjoy a boom period post-recession that will beat the competition hands-down.

Steve Mills has offered up four tips for businesses looking to increase marketing expenditures and use this recession as a force for growth.

  1. Put up prices. Would customers or clients stop buying from you if you were 1%, 2% or 3% more expensive? The chances are slim, so boost your profits with this simple action.
  2. Invest marketing time, money and effort wisely. If a marketing strategy is clearly not working, scrap it. In recession recovery periods, time spent on unproductive marketing is time wasted.
  3. Measure ROI in every sales and marketing action, without fail. Then put strategies in place to improve it.
  4. Implement a plan for winning business through referrals. In a time of recession, when consumer trust in businesses is at an all-time low, they rely largely on word-of-mouth recommendations to choose where their business goes. Ensure you have a solid referral scheme in place.

Following these tips from The Prudent Marketer himself will help businesses to make the best of a volatile situation as the country struggles out of recession.

For more information about Steve Mills, the Prudent Marketer, and to discover some of his personal marketing tips, visit www.theprudentmarketer.com

The 80/20 rule is dead

Business Advice Uk | Green shootsOn Saturday I attended a really interesting workshop by Dan Bradbury.  In the workshop Dan said that in my industry (the consulting, training and coaching industry), the 80/20 rule is dead.

He stated that recent research states that 80% of the income is now made by only 6% of the industry.

Leaving only 20% of the income to the 94% remaining.  And….

I am sure your industry is similar, so the big questions are:

1. Are you in the top 6%?

2. If not, how are you going to get there?

One thing that I can tell you and that is, being in the top 6% is nothing to do with how good you are operationally (doing the work you do).  Rather, it has everything to do with how good you are at:

  1. Winning new clients
  2. Getting your customers to spend more each time they buy (increasing the average transaction value)
  3. Increasing the frequency of service

So, for instance, if you own a shop, you have got to get more people through the door.  Then get them to spend more, each time they visit.  Then you have got to get them to come back to your shop more often.

You will only get there by becoming better at selling and marketing your products, or services.

The truth is ‘if your marketing does not stand out, neither will your income’.  So, it is essential to focus more time on the activity of creating sales.

My top 10 tips for this are:

  1. Measure what works and what does not
  2. Work out how you can win more out of your current clients
  3. Decide how you could be different
  4. Become knowledgeable about using the internet to grow your business
  5. Learn how to use LinkedIn and other social media
  6. Realise that you can’t do everything yourself
  7. Improve the quality of each and every element of your business
  8.  Consider what you can do for free, before you start throwing money at your marketing
  9. Improve your headlines – including each page of your website, e-mails, direct mail, adverts, PPC adverts, and even the way you answer the phone.  Remember – nothing is perfect!
  10. Set up a blog in order to drive traffic to your website.

Are you in need of help with your marketing?  If so, please call me on 0118 930 5700.

Business Growth UK

business advice ukDid you know that 85% of company’s stop chasing leads and following up after just 2 contacts?  So they make 2 calls, or send out two e-mails and then assume that people do not want to buy!

Did you also know that 81% of all sales are made after 5 contacts?

So as my good friend Peter Thomson once said “Keep going until they die, or buy”.  OK that may be a bit extreme, but the point is made that you must ‘keep on keeping on’.  The truth is – if you could improve your conversion rates from 40% to 60% you would grow your business by 50%.

Something to think about I think…

Social Media Management

Internet marketing training

Internet Marketing Training

Did you know that we offer an amazing, low cost service that allows you to get all the benefits of a professional social media marketing campaign, without the usual headache?

Wondering what social media marketing IS and how it can help you?

From just £200 per month (less than you might spend on a tiny display advert in a local paper) we can get our team of social media experts to profile your business, create a campaign, and start tweeting and posting engaging content on Twitter and Facebook that will boost your brand, increase your website conversion rate, expose your business to a huge new market and drive more visitors to your website.

Our team (all UK based and native English speakers) will write daily promotional and interesting content and schedule it a week in advance via our incredible social media control panel.

Our control panel makes it really easy for you to track your campaign’s success, review our content, edit and schedule your own items (when you have a free moment) and even tracks relevant news items that you can post out to your followers. We make it simple for your business to benefit from the huge popularity of Twitter and Facebook.

I am so sure you will like our social media management service that I’ve created you a personal demonstration of our scheduling control panel.

 

Login URL: http://theprudentmarketer.socialserver.net/demo/login
Username: Just add your e-mail address
Password: demo1

We’ll schedule 4 or 5 bespoke tweets and/or 2 posts per day and even upload custom made images a couple of times per week (depending on which account you choose). We’ll still be posting while you are working on building your business. We’ll still be posting when you are on holiday or off sick. We’ll still be posting when you are called out to an urgent meeting that runs on all day. It’s hard work to post four or five times per day with well thought out content. We are experts at it.

The contract

There is no contract! We are so sure you will be delighted with what we write for you and the results you’ll get from the campaign that you are free to leave at any time. We are confident you won’t.

We supply you with:

  • A social media scheduling control panel.
  • 4 or 5 bespoke tweets and/or 2 posts per day – all by our native English speaking team.
  • You will be able to log in and monitor the content we have created for you, as well as view your traffic stats and schedule your own tweets, posts and images.
  • Access to a bespoke news searching system that allows you to post industry news to your followers.
  • Lots, lots more…

Have a look at http://theprudentmarketer.socialserver.net for more details and prices.

Then call us on 0118 930 5700.

Creating client loyalty

  1. Under Promise – Only make promises that you are sure you can keep. Allow plenty of time to complete assignments so that they are completed early. That way clients will be impressed rather than disappointed.
  2. Over Deliver – For new clients you need to ensure that you over deliver to gain trust and to establish the relationship.
  3. Website – Ensure your website is always up to date and that information is easy to find. Ask a few different people to check it for content, clarity and navigation.
  4. Gather Feedback – Log any feedback from clients and by acting on these issues, you will improve your relationship with your clients.
  5. Know your clients – Install CRM software so that every member of your team can see every detail about clients and they can view correspondence and notes. This will ensure they know any history when a client calls.
  6. Emails – Reply instantly to the client acknowledging receipt of the email and giving details of what will happen next (when they will be contacted, how, who by etc). Then solve the query as soon as possible but keep the client informed.
  7. Internal Training – Train your staff so they know your business inside out. Whoever speaks to clients needs to know what they are talking about and where to direct any calls. The competency of your staff will be clear to your clients.
  8. Telephone Manner – Write a script for answering the telephone to ensure that everyone answers in exactly the same way every time.
  9. Hire the right people – Make sure you find the right person for the job and then train them in your firm’s procedures.
  10. Go one step further – Encourage your team to create “Raving Fans” and not just satisfied clients. Reward them for thinking constantly of ways to improve the service and relationship to clients.

The Prudent Marketing system

The 6 stages of Prudent Marketing:

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Release of new book design

I am pleased to announce the release of my new book design for my e-book – ‘The 10 Biggest Lead Generation Mistakes, Most Small Businesses Make’

To download your free copy go to Marketing Advice.

Marketing Advice UK

Better Retailing Magazine

Marketing Advice for the retail sectorLook out for me in the next edition of Better Retailing Magazine.  I wrote an article call Localised Marketing the Best Resource for the Retail Sector.

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