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Feature ArticleAre You Making These Mistakes In Your Business?
You've probably heard the statistic that 95% of small
businesses fail in the first five years. That's not a very
encouraging number! Although being part of the 5% that
succeed is not easy, it's definitely possible. What it
takes is a lot of common sense, some marketing and sales
skills and the ability to learn from the mistakes of others.
To get you started on the road to success, here are three of the biggest mistakes small businesses make and some tips
to help you avoid them: Mistake #1: Having a Poorly Defined Sales Process
The key to making money with any business is to stay
focused on how you can "sell", "sell more" and "sell more
often". Unfortunately most businesses don't consider all of
the ways they can make money from customers and end up
losing potential revenues.
There are three ways you can make money from your site:
- Get More New Customers - This is the sales activity that
most small businesses spend 90% of their efforts on.
Although it's an important element of your sales process,
it's only one of three ways you can make money. Don't
neglect the other two because you're focused on only
attracting new customers.
- Make More Money From Each Transaction - Upselling is the
process of increasing the value of a customer's order.
Offering additional products and services at the point of
purchase is an effective way to increase the value of the
transaction.
- Sell More Often To Existing Customers - Existing
customers are the least expensive customers to sell to.
Why? Because they've already purchased from you once so
they trust you, you already know what they're interested in
and you know how to reach them. Use these facts to your
advantage by following up with existing customers on a
regular basis and offering them more products and services.
This process is known as backend sales and is one of the
most overlooked revenue sources by small businesses.
A well-defined sales process will include all three of
these. If you're missing any of them you need to rethink
your strategy from the beginning. Start with your first
contact with a customer and walk through step-by-step how
you'll take them from never having heard of you to being a
lifelong customer.
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Mistake #2: Not Learning What Makes a Website Sell
If you've been online longer than five minutes you know
that the "build it and they will come" mentality doesn't
work. If you want your business to succeed you need to
learn how to make a website that sells.
Some of the best things you can do are:
- Build Trust - Providing testimonials, free trials, money
back guarantees and a Privacy Policy will all help your
customers trust you. The more confidence people have in you
and your ability to deliver what you say you will, the more
likely they'll be to take the action you want.
- Keep Your Product Offers Relevant - No matter how tempted
you may be to promote an unrelated product or service
because it pays a high commission, DON'T! There is an old
saying that you should keep in mind at all times, "stick to
your knitting". In other words, stick with what you've been
doing.
- Get An Email Address For As Many Visitors As Possible -
This can be when they order, sign up for your newsletter,
request an information package, enter a contest, request a
special report, sign up for a trial/demo, or whatever
action makes sense for your business. Having this address
allows you to follow up with them and turn them from
prospects to customers.
- Make The Perceived Value Extremely High - The higher the
perceived value of your offering, the fewer objections you
will receive. To add value, consider additional products
and services you can offer to purchasers. This can be a
special report, an ebook or even some of your time. Just
make sure that whatever you offer it's not readily
available for free on another site. Otherwise this
technique will have the opposite effect and make your offer
look less valuable.
Do you have an article for Web Sm@rts? Send to Web Sm@rts
Placing your article in Web Sm@rts is a great way to
gain exposure for you and/or your business! Each article is
published with your name and web site, plus a short 'resource box' at
the end of the article.
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Mistake #3: Not Treating it Like a Business
Too many small business owners fall into bad habits early on and end up treating their business more like a hobby
than a business.
Here are a few things you can do to treat your business
like a business:
- Stick To A Schedule - Just like you would with a regular
job, develop a work schedule for your small business and
stick to it. This will keep you focused and you'll be more
productive.
- Get Help When You Need It - You can't be an expert at all things. If you don't know how to build websites, write copy
or do the accounting, find someone who does. Doing so will
let you focus on what you do well instead of wasting your
time and leaving you frustrated.
- Work Hard At It - That's right, good old-fashioned elbow
grease will always get you further then searching for the
"secret to success".
Are you making any of these mistakes in your business? If so now is the time to make some changes!
**************
This article is an excerpt from the Special Report by Jennifer Tripp, "The 7 Biggest Mistakes Small Businesses Make - And How You Can Be Smarter!" To get your copy of the entire report visit www.mysmallbizcoach.com/sevenmistakes.htm
**************
As part of our ongoing commitment to provide quality content, we
would like you to take a moment to rate this article on a five point
scale.
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This week's TIP
Indenting Text
The <blockquote> tag enables you to indent your text from the left and right margins within your web page. however, it won't enable you to indent your text from just one side.
If you would like to indent your text from the left margin only, you can use the <ul> tag (the same tag you would use to create a bulleted list). the only difference is that you won't use the <li> tags with it. your text will be indented just as a bulleted list is, but there won't be any bullets.
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Here is an example using the <ul> tag without the <li> tags. I have created a border to signify a web page. Notice how the text is indented from the left margin only. Perhaps the best part is that this technique displays well on all major browsers and validates too!
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* Get these syndicated tip feeds for yourweb site, free. *
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Second ArticleAutoresponder Magic
What is an autoresponder? Autoresponders are programs
that automatically respond to an Email with 'pre-canned'
message. For example, if you respond to an invitation to
sign up for a newsletter by sending a blank Email to a
certain address, it is likely being directed to the Email
address of an autoresponder. An Email response is fired
back and you'll see it your inbox within seconds.
Autoresponders are in effect, Emails on demand and that
means that your information is available around the clock
all year long.
Automating your Internet marketing business using this
tool can dramatically improve your sales without any work
on your part. In fact, an autoresponder can process in
excess of 50,000 requests every day!
The most common uses for autoresponders are sales letter, email gathering and customer support.
Sales Letters
Using an autoresponder is an effective way to distribute a
sales letter. For example, if you post to newsgroups
and/or forums you can offer information about your
business or perhaps a report. People indicate interest by
responding with a blank email to the address you specify.
The autoresponder sends back the information requested,
and along with it your sales letter is included. How easy
is that for free advertising?
Customer Support
If your business includes a customer support group, and
you receive a lot of support questions that are very
similar, you can create an autoresponder that includes
a 'Frequently Asked Question" (FAQ) list that answers the
most common questions asked about your products or
services. Autoresponders also allow you to set up
predefined answers to specific questions. By using an
autoresponder in this way, you can significantly reduce
your customer service load. Imagine if you were an
Internet host provider and people wanted information on
setting up their Email service. You can provide all or
most of this information in an automated Email message.
You require fewer 'live bodies' to man your support desk,
and your customer can print out the instructions for ease
of reference...definitely a win-win situation.
But the best thing about autoresponders is that they
record the Email addresses of every contact who requests
information from you. You can retrieve the addresses from
the autoresponder log and use them to follow up with
prospects. In this way you are creating a 'qualified
prospect' list. You can even set up an autoresponder to
Email messages at predetermined intervals. For example,
during a holiday season you can send an Autoresponse Email
with good wishes and a promotion for a seasonal product.
Or, you might want to tell a customer that their
subscription has expired. There are hundreds of reasons to
use an autoresponder. They are an effective marketing tool
that any business can benefit by.
**************
Scott F. Geld is the Director of Marketing for
MarketingBlaster.com, a company providing targeted traffic
and direct links starting at just $5:
www.MarketingBlaster.com
**************
Download of the Week |
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ConnectBuddy is a free program that simulates Internet activity to prevent you from being disconnected from your Internet Service Provider (ISP).
Some ISPs will disconnect you if you spend a little too long reading a Web page or just a few minutes away from the computer. Even unlimited access ISP accounts are often signed off if they are inactive for a period of time.
ConnectBuddy resides in the system tray and keeps you online by periodically retrieving information over your connection and making small mouse movements at an interval of your choice. It will look like you are sitting in front of your computer working and surfing the Internet.
Download ConnectBuddy
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If you'd like to comment on any aspect of this publication, send
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paradigmwebdesign.net
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