Marketing | YHBA - Practical advice for business

Time to get back on the horse?

11/05/2012 By Mushroom Internet

Over the last few weeks and months (and for some possibly years) we have been buffeted with bad economic news. If it is not the plight of the Euro, it is the unemployment figures or the deficit or many other pieces of informatioin that makes us all feel gloomy about our prospects.

Well I say enough is enough!

We cannot sit on our hands for ever waiting for market conditions to improve. Conditions will not improve till WE do something about them. I know many companies that have had good years throughout the recession (double dip or not) Why? They have gone out and got on with business. They have not cut their marketing budgets and some have increased them and fought even harder against their competitors. They have not listened to the doom sayers and they have made their own ‘luck’

Talking to a small company recently they were moaning about the state of the Euro zone. This intrigued me as they do not export and have no intention of exporting, they do not buy from outside the UK and they only sell into a relatively small regional area. I for one cannot see how the plight of the Euro affects them. But it is an example of how companies get bogged down in the hype of the media and press instead of looking at their market and reacting accordingly.

So it is my view that having fallen off the horse it is time to get back on and ride you way out of the doom and gloom.

If you want help getting back on the horse call Bob Francis on 07941 426 807 or email me at bob.francis@sgba.co.uk or contact us

Are new business support provisions fit for purpose?

07/02/2012 By Mushroom Internet

The Government is in the forefront of encouraging new business support provisions for SMEs. It has reorganised Business Link and done away with the local one-to-one advice provided from trained advisors and replaced them with a website.

In a recent Forum of Private Business (FPB) poll only one in ten of the respondents indicated that the support provided was adequate while 20% said it was not. Further, more than half thought that the information was inadequate to aid growth.

Mentoring and coaching now appear to be favoured by government as the best way to support SMEs and are supporting organisations and individuals who give their time free of charge. However some restrictions are placed on what they do. This means for instance that coaches cannot give advice! Whilst there are, no doubt, many good people providing good support amongst these organisations, the overall quality of these coaches and the services they provide may not suit the majority of SMEs seeking practical help and advice. For instance many of the coaches recruited are retired bank managers and the like. By the very definition bank managers have never run a business and it seems doubtful that they could assist a company that is ambitious and wants to grow but need help to develop a strategic marketing plan for instance.

The private sector provides a range of business support services. These organisations are staffed and run by business people who have run their own businesses (and by definition of being in the private sector, still run their own businesses) and are highly qualified in a range of different disciplines. Ambitious SMEs are willing to pay for quality help, support and advice as they know that the return will be substantial and will benefit their business in both the short and long term.

If you would like to explore how business support can help your company contact Bob Francis on 07941 426807 or email at bob.francis@sgba.co.uk

How customer insight can improve customer loyalty, sales and profit

15/11/2011 By Mushroom Internet

Customer insight can be defined as an understanding of what customers want and how and when they make buying decisions. Customer insight is gained in many ways from customer complaints to actively seeking their views on your products, services and the way in which you do business.

Social media including Facebook and Twitter are good tools to use to listen to your customers, engage in dialogue and gain insight. More traditional ways include customer panels and surveys, both online and off line. Customer panels are groups of people who come together to discuss topics that are of interest to the client company about their products and services. Surveys are being used increasingly as they can cover a variety of topics and that both quantitative and qualitative analysis can be obtained. Current technology developments allow on-line surveys to be taken both locally and, by using web based technology, remotely.

Many studies show that the speed of response to customers is a vital element in building customer loyalty. This is especially the case in customer service situations where a bad experience is quickly shared over the internet. But speed of response is also important in sales situations too. In a typical situation the length of time between gathering customer data and fulfilling the request can be critical and can mean the difference between converting a prospect into a customer or losing the customer altogether.

It can also be shown that a lost customer or prospect can have a negative effect on others who are considering purchase. Developing customer insight using tools such as CRM systems, social media and surveys will help the business deliver great customer service which in turn helps to generate a feeling of being listened to by the customer. This will engender positive attitudes to the business and will ensure the customer not only returns for further purchases but also will further enhance loyalty and reputation as the word spreads. Great customer service is a key pillar in driving reputation, revenues and repeat business.

Obtaining customer data and insight through the latest technological advances provides a number of benefits. The data gathering process can be integrated into the sales presentation providing a better, more personalised customer experience. The data, customer preferences, decision criteria and so much more can be obtained in a natural and non threatening way. This enhanced individual customer experience helps to build loyalty. These same technological advances also allow the real time integration of the customer data into back office systems such as CRM for real time reporting and dissemination of leads. Thus a fully qualified lead can be provided to a sales agent or distributor within seconds of the information being collected, complete with preferences, decision criteria and the like. Early follow up of these leads is more likely to result in a sale to a satisfied customer.

Regular and particular communication to customers that have been segmented on the basis of data obtained will result in cross sell and up sell opportunities. This will not only enhance sales but profitability is improved. Customer acquisition costs are also reduced. The on-line survey approach can be used for discovering trends in the market. Regular surveys at time intervals will show how markets and tastes change. This can be used to inform a product or service development programme. Having this sort of information will not only provide sustained profitable growth but will ensure that your business will provide your customers with products and services they need both now and into the foreseeable future.

This blog post was contributed by Hugo Spalding MD of MSP, a customer insight company.

For more information on how on-line survey solutions can increase your profits please contact Hugo Spalding for an informal discussion.

Will Entrepreneurs rescue the world?

03/10/2011 By

There comes a time when Business Leaders need to take control. Many are doing just that, but just as many (if not more) are being highly cautious.

Whether it is the leader of the IMF, the Leaders of Governments (Obama, Cameron, Merkel, etc) the messages all spell GLOOM, DOOM and DISASTER.

But Business Owners can take matters into their own hands. How many are “waiting to see how matters are developing” before they make a decision? Too many.

For the shrewd, now is the time for opportunity. After all, if YOUR competitor is ‘procrastinating’, then they are at their most vulnerable.

Risk…? Every business has an element of risk. But why not take a risk at the expense of your competitors.

Bite the bullet – invest in growth whilst our ‘so called leaders’ talk the World economy down. Reinvent not only your products, but the way you do business.

Growth is there for those who are bold!

Social Networking for Small Businesses

06/09/2011 By Mushroom Internet

Social Networking is the term given to a variety of new techniques for communication with clients, customers, prospects and other interested parties. As with other marketing techniques it needs careful planning to ensure that the right message gets through to the right (target) audience. Whilst using social networking and media can be a blunt, scatter gun approach, with careful planning and dedicated application it can, like a rifle, be accurate, well targeted and can be useful in developing relationships with the target audience.

What it is.

Social networking is the name given to a variety of tools that can be used to develop relationships with customers. Of particular importance is the fact that the use of these tools will help to drive traffic to a website or blog and ultimately help search engine optimisation of the website.

For businesses these tools can be used for reputation management, test marketing and feedback from customers on existing or proposed new products. It can also help to increase brand awareness of the business and raise the profile of individuals establishing them as experts in their field and can be linked to articles, websites, blogs and a variety of other media.

The main tools for small and micro businesses are LinkedIn, Twitter and increasingly Facebook where Business pages can now be set up. Facebook has currently over 500M users and businesses find this increasingly useful to provide a channel for communication with customers. For instance videos and photos can be downloaded from the site and forums set up to discuss various aspects of the business and its products.

What it isn’t

Social networking is not a quick fix for getting customers. Like all marketing it needs a careful and thoroughly thought out plan to achieve goals set for it. It should be used as part of a complete plan and not instead of it. At all times the focus must be on the business goals and not on chatter about your social life. If that is what you want to network about, then set up additional accounts with that as the main focus.

Each of the three tools identified (and there are many more that you should consider to see what is right for you and your business) have different purposes. LinkedIn for instance allows you to search for specific people in your target market. It also has very useful Q & A area where your expertise can be shown and your own reputation as a knowledgeable expert can be developed. Twitter on the other hand only allows 140 characters in each ‘tweet’ so the main purpose is to drive traffic and enhance your Google search listing as tweets are also indexed by Google.

As mentioned previously Facebook can be used for business and personal reasons. Currently the development of Facebook for business is in its early stages but it can still be used for developing your expertise and to link to other media such as your website and blog.

How to get started

Getting started is simple. All the tools I have mentioned are free to set up an account and to use. Just register and start using. A word of caution, however. Although they are free to use to be effective needs a considerable amount of time. Firstly you need to establish your account; then you need to gather fans, friends or other contacts. This can be done by searching for your target audience or ensuring that your communications are keyword rich. Then you need to provide useful content and information. Only then can you start to see the benefit. It needs co-ordination between these tools and your blog and website. However before you even start, develop an action plan so that you can integrate this form of marketing with your existing plans and make sure they work with each other.

If you require further information or want to discuss how Social Media and Networking can help your business contact bob.francis@sgba.co.uk or call 07941 426807

All trademarks acknowledged.

See our latest presentation

23/08/2011 By Mushroom Internet

Customers and cash. How to get more of both!

In difficult times most SMEs need to get more of one and conserve the other. In fact many would like to get more of both. Our latest presentation gives ideas and tips on how to do both.

Feel free to comment on the presentation and we look forward to receiving your feedback.

10 First Aid Marketing Tips

16/08/2011 By Mushroom Internet

One of the first items that is cut in an economic downturn is the marketing budget. Often it is perceived as expensive and it is not always easy to see that there is some benefit from the cost expended. And this might be true if you focus on the wrong things. Many would argue that the time to increase or at least maintain marketing activity is during a downturn when many of your competitors are reducing their campaigns.

Here are a few first aid tips to keep your lead generation and brand image marketing going while not spending a fortune:

Messages/Targetting

Understand clearly who your customers are. Write a specification for your ideal customer. What they are business or consumer or both; what size they are; what do they do; why do they buy from you; what do they buy from you. Once you have a clear idea ensure that all the rest of your activity addresses this ‘ideal customer’ wherever possible.
Review all marketing messages. Ensure that they speak to the range of customers you have or are targeting and that they address an issue that the potential client has.
Differentiators. How are you different from your competitors? If you are not sure try to develop a different way of approaching and communicating with your customers
(http://www.abio.ltd.uk/services/marketingplans)

Channels

How are you getting to market? Have you optimised the channels through which you sell? Are the messages created above suitable for the channels you have chosen?
Markets- are there different markets that you have not tried before?
What about Export? It is not as difficult as you might think.

Networking

For many businesses it is the preferred method for many companies to find new customers. Local chambers of commerce are a good place to start. There are trade and professional membership organisations which have networking events where you can meet potential customers. Speed networking is becoming more popular and this is an opportunity to meet 30-40 potential customers who are there for one purpose – to network with you. If you are still not sure, Google ‘networking in…. (you location)’ and you will be surprised at the number of organisations that have networking events.
Although there is a cost associated with this, it is usually minimal but the return can be substantial. Restrict yourself to a few events at first but keep at it. Good business relationships are not forged in one day.
Follow up on the contacts you meet. Too many people expect that they will get business from their one contact with someone at one of these events. Take their details and agree with them that they are happy for you to call them.

Press Releases

Under this heading falls a wide range of activities that in general only costs your time. These include news items, case studies, and technical, business or trade articles, new product releases and so on.
Often this activity is free!
There are a number of preparatory steps you need to undertake to ensure that your press release is used and not spiked like those of your competitors.
Firstly identify the journals, newspapers and trade magazines that you want your story to appear in. Then contact each of the editors by phone to discuss their requirements for style and any mechanical details they require although now it is rare for an editor not to be able to accept story and any pictures by email. Also check for upcoming features that might be suitable to tie into. Keep in touch with editors to become a ‘specialist’ to whom he can turn for industry quotes etc. Become the expert.
Make the item news worthy
Focus around the messages you want to deliver.
You will be surprised the effect this will have on your customers and may have the opportunity to generate more prospects.
Remember that there are many ezines now available so remember to submit your article to these also.
(http://www.abio.ltd.uk/downloads/feedbackform?docurl=freepress)

Websites

Does your website work for you? Is it delivering your message(s) to the target audience?
Review your home page to ensure that you talk about the benefits you can deliver rather than what you do.
Research key words to allow you to optimise your site so that it can be found when a prospect searches for those words.
Make maximum use of the tools that can be found (often for free) on the internet to maximise the effectiveness of this resource.

Emarketing

E marketing covers a variety of techniques to get your messages across to the target market. However most people use it as direct mailing techniques using emails as the medium.( http://www.abio.ltd.uk/services/emarketing)
Ensure you have all your customers’ email addresses
Build up a database of prospects email addresses. This can be done either by buying an opt in list from a list broker or by building your database by capturing the details of visitors to your website.
Send regular emails to these lists with latest offers, new products, events etc.

Newsletters

A newsletter can get across a lot more information to your prospects and customers.
You can include industry news as well as company news, technical information as well as products offers etc.
This will also build your image and credibility if you include others such as the thought leaders in your local business market, in your newsletter list

Directories

There are a number of directories which serve your market. These can be printed or online directories
Research which ones suit you and your customers and get a suitable entry reflecting you marketing messages.
Ensure where possible to get links to and from your entry to help build traffic to your site

Telemarketing

This may not at first sight be something that you might consider. However note the title is Telemarketing not telesales.
In telemarketing you can build interest through a suitably qualified telephone call and then make an appointment for your sales person to meet with the prospect
Or you can get commitment to try/buy a sample, or agree to receive further information
If you are going to do this yourself get some information about best practice and use it.

Seminars/Webinars

This is a more expensive option and takes a great deal of organisation.
For standard seminars it allows you to be seen as an expert in your field and is suitable for technical presentations, education, new product launches, workshops and many more.
Follow up afterwards to get feedback and to meet customers to discuss how your product and service can help them.

These are only some ideas that you can use to help revive your business and develop your marketing activity. Marketing is a business activity and should be integrated into the business planning process. But what ever you do make sure that you measure the results from each element of the activity so that you can understand where to put your marketing spend in the future.

Is the Government's approach to business mentors the right one?

08/07/2011 By Mushroom Internet

Over 200 current and former bank managers have signed up to form the core of a national mentoring scheme being rolled out today with Barclays, HSBC, Lloyds Banking Group, Royal Bank of Scotland and Santander offering businesses more support on issues like finance, marketing and HR. This comes as a result of the Governments attempts to change the way SMEs receive help with the demise of the RDAs and Business Links in their current form.

My question is what do current or even former bank managers know about marketing and HR?

At first sight the aim to provide help and advice, mentoring and coaching to business owners is a laudable one. All these mentors are doing it for free- even better for the owners of these businesses. But does this mean that these owners will get the latest and best advice? It is unlikely as many will not be current and others will lack expertise and probably have never run their own business before.

Perhaps these bank managers should stick to what they know and advise SMEs on how to produce plans that are acceptable to banks to obtain loans and overdrafts.

There are a number of organisations such as SGBA that have dedicated, trained and experienced advisors who will provide a similar service. The main difference is that they will stick to their area of expertise. Someone who is an expert in marketing will not be an expert in finance but there will be someone else in the team who is. See About Us for full details of the team’s expertise.

If you would like to discuss the issues that face you Contact Us and an adviser will call you.

Is the Government’s approach to business mentors the right one?

08/07/2011 By Mushroom Internet

My question is what do current or even former bank managers know about marketing and HR?

Perhaps these bank managers should stick to what they know and advise SMEs on how to produce plans that are acceptable to banks to obtain loans and overdrafts.

If you would like to discuss the issues that face you Contact Us and an adviser will call you.

>SMEs Increase Marketing Channels

14/07/2010 By Mushroom Internet

>The following article comes from Marketing Week

“According to research commissioned by B2 Group, many SMEs are increasing their marketing channels in order to enhance their business: these days 44.2% of SMEs use internet advertising as part of their marketing, while outbound email is used by 38.2%. However, the use of conferences and exhibitions, PR and direct marketing have all increased since the launch of the tracking study in February, showing that despite the increased use of online channels traditional platforms remain popular in this sector. SMEs are making sure they benefit from increased market demand as the recession recedes and clearly believe that marketing will help to make their future more secure. Further results from the survey are presented here.”
Marketing Week, 8 July 2010, pp26-28

If you need help to identify additional channels for your business please contact Bob Francis on 07941 426807 or at bob.francis@sgba.co.uk

Navigation

What it is.

What it isn’t

How to get started

Customers and cash. How to get more of both!

Messages/Targetting

Channels

Networking

Press Releases

Websites

Emarketing

Newsletters

Directories

Telemarketing

Seminars/Webinars