Customer service has always been an important aspect of any company; and it always will be; good customer service creates good PR which creates free marketing from the source which of course is the customer, and this type of marketing is precious because it can only be given not bought. The same of course is true of the opposite; bad customer service creates bad PR which creates what I call negative marketing. Social Media has expanded on this in a substantial way on both sides of the customer service spectrum. Continue reading
I have heard companies complain about the cost of target marketing and the question has come up more than once as to whether it is really necessary. Those holding the checkbooks would most likely say the answer is dependent on the cost; but that is a bad way to decide how to market. Sure everyone has a budget, but if you are looking at your budget strictly from cost you are only considering the front end, and you are most likely losing money, even if you don’t know it.
Let’s break this down in a simple way; let’s say your product or service is for homeowners, and that it does not apply to those that do not own a home. You can do an email campaign, or a direct mail campaign, or any other type of direct marketing fairly inexpensively if you do not target, so in many business owners minds, this is cheaper. But I am here to tell you, it’s not cheaper; sure you may have made a profit meaning you brought in more than you spent, but I say you lost money. Here’s why; according to the U.S. Census 65% of the adult population in the U.S. own a home, and that’s your customer right? The problem is by not targeting you are adverting not just to those that own homes but to the 35% that do not own homes as well. What does that mean? It that no matter what you’re sales end up being, whatever you spent, 35% of it was wasted.
Had you target marketed your front end cost would have been higher, however instead of reaching only a portion of your market you would have reached one hundred percent of your market, meaning your sales would most likely increase and your back end profit would outweigh your front end sales. Now there are products that do not need target marketing because they apply to the population in general, but that is exception rather than the rule. Most products or services have a specific target or targets which will naturally increase the level of sales. Don’t take my word for it; research target marketing and see what you find.
A couple of months ago I had a business meeting with someone that was trying to sell me on a project; I met them at a restaurant that they picked. They pulled up in an old Toyota that was badly in need of a wash, and the bumper was dented and had paint marks all over it. Does this matter? I think that it does. Everything about you matters when it comes to business; from the way you dress to the car you are driving. Continue reading
In November I relocated back to Southern California for family reasons; for the past year and a half I had been living in Las Vegas. I had bought a car two months prior to moving to Las Vegas in Southern California and a couple of months after getting to Vegas I went to DMV and registered my car in Nevada. Now here is where it gets befuddled for a lack of a better G rated word; now that I was back in California and knowing I would need to reregister my car in California I went to the DMV website and made an appointment; this should be simple right? The car came from California, they have the info in their system, punch in a couple of things on your PC and zip, zap, pay the fee, here’s your plates, have a nice day, come again soon! YEAH RIGHT! Continue reading
Over the years I have had many people tell me how lucky I am to be self-employed, how lucky I am to be my own boss; the first thing I tell these people is luck had nothing to do with it. Lottery winners are lucky; people in business, well we work for a living, we build, we create; now don’t get me wrong, there definitely can be an element of luck; being in the right place at the right time, but luck did not build a business, that was hard work, ingenuity, perseverance, sweat, blood, and tears, and the vision to get there. People seem to think that because you work for yourself, because you are a successful entrepreneur, that it’s all a fantasy life. I and anyone else that has built a business can assure you it is not all fun and games… Continue reading