Why You Need A Business Plan – Part 2

why you need to create a business plan

“If you fail to plan, you are planning to fail!”

This quote is attributed to Benjamin Franklin.  And it still proves to be true.

Today, we’re posting the fourth installment of our Entrepreneur Series, Part 2 of the discussion on why you need a business plan.

Join us now as we continue our discussion about why you need to create a business plan and why it is so critical to your success.

Watch our video here or watch on YouTube.

Until next time…

Are you ready to grow your business now? If you’re ready to take the next step and make your business more profitable, contact us today.

If you like the information you are receiving, please consider forwarding this post.

5 Ways To Market When Cash Is Tight

create buzz

Most businesses experience tighter cash flow issues from time to time…

Whether as a result of the economy, something related to their niche, or perhaps from some changes to internal processes, how do you create some buzz?  

I’ve spoken before about the fact that marketing is often the first place that businesses will cut back when they are experiencing cash flow issues. And, I’ve also spoken many times about the fact that this is one of the worst things a business can do.

Not only does this put the brakes on attracting attention to your business, but it also put you behind for the time when either the economy or your cash flow improves.

Regardless of whether you are an established business feeling the pinch or a startup experiencing difficulty accessing capital, the five tips in this article will show you that marketing does not have to be expensive to be effective.

1. Content Is King

I know we keep hearing this over and over again, but it is a fact. One of the most effective things that you can do is to publish quality content. Regularly posting content that resonates with your target audience is extremely cost effective and is a great way to build trust and to keep you consistently on the radar of your clients and prospects. Posting regular content is also a great way to improve your search engine results, improving your ranking.

2. Network, Network, Network!

Never underestimate the value you and your employees bring to your business. Every experience that brings you in contact with others is an opportunity to network, so don’t overlook these occasions. Attending a conference? Be sure to take long some business cards. Tradeshows, lunches, spontaneous or unplanned meetings-these are all great opportunities for you to promote your corporate brand and let people see the human face to your business. And remember that networking is a two way street. Offer something of value to those you are connecting with and they are more likely to reciprocate.

3. Borrow On Your Line Of Credit

While there are many opportunities to market your business for free, or at least inexpensively, it is misleading to think that marketing doesn’t require any budget at all. There are nearly always some costs attached to marketing strategies, whether it is printing costs, outsourcing writers, hiring employees, or utilizing various tools and subscriptions. If it makes sense, consider using a line of credit to get access to immediate capital needed to fulfill your more pressing marketing needs. Used cautiously, this can help keep your marketing engine running until your cash flow improves.

4. Take Advantage Of Social Media Platforms

Social media platforms are a great way to reach out to multitudes of people over the Internet. Just make sure that you are utilizing the appropriate channels to reach your target audience. And remember that you don’t have to be on all social media platforms. Choose the top 3 to 5 platforms for your niche and your target audience and stick to them. Post relevant messages and links to draw your target audience back to your website. Be sure that you are responding to any messages, requests, or comments that you get on these platforms as they can be a double-edged sword. Remember that they are social, and interaction is expected.

5. Do You Ask For Referrals?

Although the dollar figure may vary from business to business, we are all very well aware that it costs much more to obtain a client than it does to keep a client. And nothing is more effective in bringing business through the door than a solid referral from a satisfied customer. People do business with people who they like know and trust, and a recommendation from a happy client translates to a pre-determined trust by the new business prospect. Create some type of referral or loyalty program among your customers and let them help market your business through their satisfaction.

So as you can see, it’s easy to market your business effectively even when times are tough. Adhering to a marketing program will ensure that your company will not only survive, but will thrive.

Until next time…

Are you ready to grow your business now? If you’re ready to take the next step and make your business more profitable, contact us today.

If you like the information you are receiving, please consider forwarding this post.

Content Marketing Made Easy

Content marketing

Providing informative, useful content should be the driving force of your marketing.

We all know that the face of marketing has changed significantly over the past several years. Sure, at its core the fundamentals and the principles of marketing remain the same. But how clients and prospects engage has shifted, thanks to the advancement of technology, and content marketing is the best way to reach them online.

Clients and prospects now, more than ever, have control over what they see. TV remotes and DVR’s have allowed us to skip advertisements and channel surf to find those shows that we find most engaging. Traditional cable is also suffering, as more and more people see the advantage of streaming the shows and content that they want to see, without being locked into packages and programming that is dictated to them by the cable companies.

Savvy marketers who have kept up with the times understand that they need to adapt to this ever-changing landscape to keep their clients relevant within their niches. And one of the best ways to do this is with content marketing.

Simply defined, content marketing is a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly-defined audience — and, ultimately, to drive profitable customer action.  The purpose of content marketing is to attract and retain customers through the consistent creation of relevant and valuable content intended to sway or enhance prospects behavior towards your business.

Content marketing is not something that you do once and walk away. Just like the more traditional forms of advertising, repetition is important. By providing consistent, interesting and valuable information to your clients and prospects, you develop an engaged audience that learns to trust your authority.

But remember, content marketing is not about selling; it is the art of communicating with your clients and prospects. Rather than pitching your products or services, the focus is on providing information that helps make your prospective client more intelligent. This strategy is based on the belief that through the delivery of consistent, ongoing content that provides value to your prospect, you will be rewarded with their business and loyalty.

repeat-customer-marketing

And history has shown that this strategy works! Content marketing is being used successfully by some of the largest global organizations. But the beauty of content marketing is that you don’t have to be a big player to implement this strategy successfully. Properly developed and executed by small businesses, content marketing has proven itself to work over and over again.

Content marketing represents the current and the future state of marketing.

Remember our earlier definition of content marketing?

The key difference between content marketing and other types of marketing is that content marketing is not focused on selling your “stuff”.

Keep in mind that companies are sending us information all the time. But is it relevant? Most of the time it’s not, so clients and prospects become conditioned to delete so much of this. What makes content marketing so in trading in today’s marketing space is that one key point of differentiation – relevancy. Good content marketing engages the audience, changing the way they think and behave in reaction to the materials they are being sent.

You just can’t market without great content.

I’m sure you are using many different types of marketing tactics. But regardless of what you are doing, be sure that content marketing is a part of these processes not something distinct and separate.

Indeed, quality content is a part of all types of marketing. Consider the following:

Social media marketing: integrate content marketing into the posts on your social media profiles
• SEO: Search engines love businesses that publish quality, consistent content.
• PR: Successful PR strategies address issues that people care about. PR is not about selling.
• PPC: PPC is an expensive experiment that is unlikely to give you a proper ROI without great content behind it.
• Inbound marketing: to drive inbound traffic and leads, you need good content.

To be effective at content marketing, it is essential to develop, create and follow a documented content marketing strategy. We can help you with the development of this strategy.

Until next time…

Are you ready to grow your business now? If you’re ready to take the next step and make your business more profitable, contact us today.

If you like the information you are receiving, please consider forwarding this post.

Paralysis By Analysis

analysis

Paralysis by analysis – guilty as charged?

Today, we continue our new Entrepreneur Series by discussing the issue of paralysis by analysis.

I’m sure we have all been guilty of this at one time or another. We have an idea, create a plan and get all the back end prepared, and then? We do nothing with it, or shift views, or something…

What makes us do this, and how can we avoid it? Join Frank Thomas and me as we explore this aspect of human nature and talk about ways to avoid falling into this trap.

Watch our video here or on YouTube.

Until next time…

Are you ready to grow your business now? If you’re ready to take the next step and make your business more profitable, contact us today.

If you like the information you are receiving, please consider forwarding this post.

What A Difference A Year Makes!

rebranding

One year ago this month, I rebranded Agapi Marketing & Consulting and launched our new website.

Prior to April 2015, my website was old, not mobile responsive, and I was marketing like I had been 10 years earlier.

Some of you know that I started the new millennium by doing things a little bit differently. Although marketing was always a key part of everything that I have done, I branched out into a couple of other areas. From 2002 to 2006, I was taking advantage of the changing real estate market in Calgary and was working with the company who invested in, and then flipped, houses. I became a licensed financial planner, and focused much of my marketing on the financial services industry. From 2009 to 2013, I worked with a company that focused on taking businesses public.

And then I decided to become less dependent on individual contracts and get back to helping business owners from all verticals learn how to effectively and efficiently market and promote their companies.

But there was a bit of a learning curve involved. After being out of the marketing mainstream for many years due to focusing on individual and specific contracts, I had to rebuild my network and my reputation. At first, I tried to run my consulting business as I had prior to 2002, providing planning and fulfillment services. This proved to be a challenge; when you’re busy doing fulfillment, you can’t be taking care of the myriad of responsibilities required in the running of a business.

So I re-branded my business. I decided to focus on my core strength, which is helping people develop their strategic marketing plan. After all, without this foundation, your marketing will cost you more, be less effective, and be inconsistent.

I met and worked with business owners who could provide fulfillment services that met with my high standards. After all, if it’s not good enough for me, it’s not good enough for my clients.

I rebuilt my website and re-branded my Corporation, honing my focus to better deliver that message.

I began participating in webcasts, podcasts and interviews, and began writing articles for various publications.

I wrote a couple of books which are now sold on Amazon.

I developed and built out my corporate, as well as my personal social profiles on twitter Facebook and LinkedIn.

I began providing our “Expert Interview Series” to our newsletter subscribers.

And I got over my intimidation and fear of the camera, launched a YouTube channel and began posting videos.

And the result?

The response has been great! More and more people are watching my YouTube videos and connecting on my social profiles. My web statistics show that people are not only engaging with, but are expecting my twice-weekly posts. People are spending time on my website; approximately 10% of all visitors to my site are spending a minimum of an hour there. I have successfully built a following, authority, and a solid group of experts to assist me with fulfilling the needs of my clients.

So thanks for being a part of my phenomenal growth over the past year. It has been an experience – and sometimes a frustration – but always fun and always a privilege.

Until next time…

Are you ready to grow your business now? If you’re ready to take the next step and make your business more profitable, contact us today.

If you like the information you are receiving, please consider forwarding this post.

The Secret To Pricing Your Product

pricing your product or service

Knowing how to price your product or service appropriately can be the most difficult – and critical – aspect of your business.

If you charge too much, no one will buy; if you charge to little, you’ll go broke. And if you compete solely based on price, you’ll only attract “bargain shoppers”.

This is one of the topics that Frank Thomas and I addressed back in December on an episode of the Small Business Tips Show. I shared the video with you recently, but I continue to get many questions and comments about this topic, so thought I would share the podcast with you, which can be a bit more convenient than watching the video.

So listen in as we reveal the secrets, strategies and techniques to help position your product or service competitively in the marketplace.

Listen to our podcast here or wherever you listen to your podcasts.

 

Until next time…

Are you ready to grow your business now? If you’re ready to take the next step and make your business more profitable, contact us today.

If you like the information you are receiving, please consider forwarding this post.

Keep Your Channel Fresh!

YouTube

Those of you who have been following my articles and posts are very well aware of my comments about utilizing video to help market your business.

It’s true that a picture says 1000 words, and video has eclipsed many other forms of communication as the preferred option. And although there are various options for streaming your video, YouTube remains the overall champion.

We all know that YouTube is owned by Google. And we also all know that Google is the number one search engine. YouTube, as an extension of Google, enhances your search results even more.

But, beyond the SEO advantages, YouTube has been around long enough that it is the most popular choice.

Who among us hasn’t Googled YouTube to discover various “how to” videos? I nearly threw out a couple of lamps because the switches weren’t working; a quick search and a three minute video solved that issue. I quickly learned how to replace the switch in the lamps, and now the lamps are working just like new.

So, despite the fact that I had to get used to being in front of a camera and get over my reluctance to be on video, I embraced the concept of producing videos to provide marketing strategies and tips, albeit in an abbreviated version, to all of you.

Therefore, it is no surprise that I nearly had a heart attack little over a month ago when I visited my YouTube channel only to read the dreaded words “channel has no content”!

After regaining my breath, I contacted my techie guy who went into the back end of my channel. He discovered that YouTube had done some updates and had created a new way for channels to display their content. He helped me to restructure the design and layout of the channel, and everything was quickly back to “business as usual”.

The new design features offered by YouTube, in my opinion, are brilliant. You can now structure the video navigation to make it easier for your visitors, and it can be set up so your most recent video shows in the current window. It also allows a special feature for new visitors to the channel, allowing for an introductory or a welcome video.

And that is what I have provided for today’s post: a new video welcoming new visitors to my channel. If you have been on the channel in the past, please check it out anyway, as I explain a little bit about why it is that we are doing these videos and what you can expect to get from. And, if you haven’t already subscribed to our channel, please do so to ensure that you don’t miss any of our new videos.

Watch our video here or on YouTube.

Until next time…

Are you ready to grow your business now? If you’re ready to take the next step and make your business more profitable, contact us today.

If you like the information you are receiving, please consider forwarding this post.

Is Your Business Competitive?

recipe for success

We all know the recipe for success with your business.

You have to have a product or a service that people want, you have to have it priced appropriately, and you have to attract customers.

It goes without saying that you can have the absolute best product or service in the world, but without clients it simply doesn’t matter. Remember that eternal question? You know; the one that says “if a tree falls in the forest and is no one there to hear it, does it make a noise?”

Well, the same applies to your business.

In many cases, business owners focus on price. They or their team will research their competition and react to the cost of the service and product from their competitor to their end-user. There are many, many problems with competing for clients solely on price.

First of all, you probably don’t know your competitors cost of sales. If they are a privately held company, you have no way of knowing what their financial picture truly is. Are they operating a loss? Are they heavily in debt? Perhaps are offering a lower price but at the detriment to the long-term future of the company.

Another problem with competing solely on price is that you don’t know what your competitor is offering behind the scenes. Do they have any guarantees? What kind of support do they provide to the customer? And what, if anything, is included in the purchase price?

One of the biggest dangers of competing solely on price is that you erode the value of your product or service. If you price your product or service to low, it is perceived as having little to no value. And if you price your product extremely high and then offer discount after discount, it raises the question of your company’s integrity if you can afford to sell the product for so much less than your original price.

In order to be competitive in your niche, you have to provide value to your clients. And, of course, you have to ensure that your prospects know about the value that you provide.

Which of course, all comes back to marketing.

It is well known and well documented that people are willing to pay more for a service or product as long as they believe that they are receiving value for their investment. You don’t even have to have the best product or service, with all the bells and whistles. Customers are looking to do business with companies and with people that they can trust.

By making sure that your clients feel comfortable doing business with you, and that they believe that you will stand behind your product or service, you will stand head and shoulders above your competitors. Simply putting yourself in your clients’ shoes will go a long way to being authentic with your clients and prospects.

But the flip side of this is that people have to know how you treat your clients and prospects. They have to feel engaged and connected with you, your corporate vision, and your business morals and ethics. And this is where marketing comes in.

How do you communicate these critical components to your clients and prospects? Do you have a proper marketing strategy and structure in place? Do you follow through with your marketing plan? Do you obtain testimonials from satisfied customers, demonstrating that you can be trusted to do what you say you will do?

It doesn’t matter if economic times are tough or if you are flying high; the concepts and the principles remain the same continue to market your products and services and be sure to demonstrate your integrity and you will weather any storm.

Until next time…

Are you ready to grow your business now? If you’re ready to take the next step and make your business more profitable, contact us today.

If you like the information you are receiving, please consider forwarding this post.

What Happens When You Don’t Have a Plan

marketing fail

Not having a plan will lead to a marketing fail.

Yesterday, while I was contemplating what I would write about for today’s post, I had a telephone call from an associate who was contacting me to pass on a referral. While discussing what the referral was looking for, the conversation unfolded to a general discussion about how a startup gets business. My associate stated, “they just need to hire a sales person and have them pound pavement.”

So now I’ll tell you why that response is a marketing fail.

Don’t get me wrong! A salesperson can be one of the most valuable assets a company has. But simply having a salesperson on your team is not the answer to effective marketing.

Let’s set the scenario.

You’ve just started your brand new business. You’ve opened shop, got your phones in place, and have hired your salesperson. And now, understandably, you expect the salesperson to generate sales for your business. But have you equipped your salesperson with the tools achieve success?

Whether you are starting a new business or running an established business, you have to make sure that you have a detailed roadmap if you expect to arrive at your destination. Simply put, if you expect to get from A to B, you have to consider all of the potholes and signposts along the way.

There seems to be some resistance to the requirement of a business plan from some people these days. Some of the “newer thinking” believes that you only need a written business plan if you are looking for financial support or investment. I would argue that, whether we apply the formal term of “plan” or not, we actually make a plan for everything we do in life.

For example, when you’re going to the grocery store, more often than not you have a list of items that you need – or at least an idea of why you are there. Or… you’re going to take a vacation. Most people don’t just spin the wheel and jump on a plane to the destination that showed up without planning for it.

If these types of every day events require a plan, why should something as important as running your business not need a plan?

So, back to our salesman.

When you created your business plan, presumably you ensured that you have gone through all of the steps, including market research. A large part of any business plan talks to the issue of who you will sell your products or services to, and how this will be achieved. This is the stepping stone for the fleshing out of a more detailed, longer-term marketing strategy.

The reason why so many people claim that “marketing doesn’t work” or “marketing is a waste of money”, is simply because they are doing what I term “ad hoc marketing”, which I wrote about in greater detail in an earlier post.

Essentially, ad hoc marketing is when someone makes a decision to apply a marketing tool without ensuring that it is a cohesive part of a larger plan. Throwing a website up without defining the purpose and the structure. Putting together a brochure without ensuring that the design, layout and content are appropriate for your audience. Sending a salesperson door-to-door without the appropriate materials to support their sales efforts. These are all examples of ad hoc marketing.

Make sure that you are not jumping into the “ad hoc marketing pool”. If you do, I can guarantee you that you will be dissatisfied with your results and will spend money needlessly, with little to no chance of a return on your investment.

Take the time to create an appropriate marketing strategy and review it on a regular basis to ensure that it is meeting your needs as your company grows. And, don’t be afraid to admit that you don’t have the time or the expertise to develop your marketing strategy, if this is the case. It’s better to bring in a consultant to help you develop this strategy and pay them once, than to struggle with your marketing, paying over and over again for things that just aren’t working.

Until next time…

Are you ready to grow your business now? If you’re ready to take the next step and make your business more profitable, contact us today.

If you like the information you are receiving, please consider forwarding this post.

10th Key to Successful Social Media Marketing

reciprocity

rec·i·proc·i·ty

resəˈpräsədē/
noun

the practice of exchanging things with others for mutual benefit, especially privileges granted by one country or organization to another.

The 10th key element to achieving social media marketing success is reciprocity!

As noted in the definition above, the law of reciprocity is about giving back to others, not just benefiting from their generosity. Today’s video discusses how and why this law is so important to your online social media marketing success.

Watch now to learn more about how integrating the law of reciprocity not only helps with your online success, but is an important element that should be part of your everyday life.

Watch our video here, or watch on YouTube.

Until next time…

Are you ready to grow your business now? If you’re ready to take the next step and make your business more profitable, contact us today.

If you like the information you are receiving, please consider forwarding this post.

Facebook
Twitter
YouTube
LinkedIn