Tag: customers

Is the Small Business Optimism Index Really That Bad?

Posted by WFG – August 10, 2011

Small business optimism has dropped for the fifth straight month. And this time it’s fallen more than the previous three. But with the way things are, what did we expect, especially when almost everyone sees the future as a pit of doom and gloom.

To begin with, I’m not the most optimistic person in the world. In fact, I will often see things in a pessimistic light. But when I look to the recent news of small business optimism dropping, I don’t see problems ahead, I see companies doing what they’re supposed to do. And that shows us that small businesses will have more chance of survival.

When looking at the components, the small business owner is asked a number of questions. Do they plan to increase employment? Do they expect the economy to improve? And the chances are they will say no. The current economic climate is an unstable one, with debts hitting new highs and riots spreading like a rash.

But with the Index released, all of a sudden a wide number of media companies jump on the stats and reveal that small business owners are struggling and are close to extinction. When in reality, they are tightening their budgets and limiting their options so they survive. If they were to make the index look good in the next month, the chances are that most of the companies would make huge losses and create debt. Where is the sense in that?

The financial market might be temperamental at the moment. But that doesn’t mean everything is going down the pan. The Optimism Index even states that ‘the employment story is not a positive one’ because only 10 percent will plan to increase employment. Most will be waiting this period of uncertainty out until they feel a better time is ahead.

There are two types of small company that will survive this spell of ambiguity. Those with good managers, who planned ahead, cut costs and take a pessimistic approach for the long term future of the business. Or the companies that have a product/service that would sell even if an apocalypse struck our streets. Times might be bad, but the good small businesses will always survive, no matter what the Optimism Index suggests.

Writing an Online Newsletter

Posted by WFG – August 4, 2011

One of the best ways to keep in contact with your customers is writing an online newsletter. It’s an affordable marketing technique and will also highlight your personal style. So what’s the best way to write your online newsletter?

Before you start, you need to know that there are different types of newsletter that cater for different audiences. Different age groups use the internet in different ways and knowing your target audience is key to distribution. Be sure to know which type of newsletter you will need to send out before starting your campaign. Read the rest of this article

Keeping Your Small Business Under Control

Posted by WFG – July 8, 2011

For a small business owner there’s lots to remember. You’ll need to keep an eye on finances, manage staff, look into advertising and overall make sure that your small business management is in order. So what’s the best way to keep everything running smoothly?

  • You should start by creating a small business schedule. This is vital for keeping everything organized. Keep it with you at all times, so you can keep it up to date. And make sure you revise it as often as possible. There are apps for creating a diary/schedule so be sure to take advantage of modern technology. The problem with many small business owners is that they let the schedule either, get out of hand, or is never updated. Always be on top of your schedule no matter how crazy it gets.
  • Another method of keeping your small business under control is to hire good staff. If your company is doing well then you’ll have more options, but good staff will always help take a load off your back. Be sure to pick someone trustworthy and has a passion for the industry. If they’re good they might be around for a long time, so liking the person will also be handy.
  • To keep finances under control you’ll need to become tight with your money, but not too tight. Only use your small business finances on the vital equipment you need and spend only when urgent. You’ll be on a thin margin while your company grows. But keeping the finances under control will help with lowering stress. Be sure to create a budget and stick to it, not following your budget will cause you more problems.
  • Lastly, make sure to keep your inbox maintained. If your small business becomes successful you may find your inbox building up. Sooner or later this will get out of control, unless you keep up to date. An out of control inbox means that you may miss customer messages which are good to reply to.

For a small business owner it’s about keeping on top of the work load. There will always be times when things seem out of control, this is to be expected. But while a lot of work shows success, it can also generate stress. So follow the steps above and stay ahead of the game.

For more information on small business success, contact the Winflow Financial Group.

Small Business Website Tips

Posted by Winflow – July 4, 2011

Designing an effective website for your small business is imperative if you want a wider market reach and new marketing medium. Unfortunately, there are also a million other businesses operating online. If you want your website to be successful it needs to stand out and should contain the following:

  • Discuss your services/products on your website. This may seem like a basic one but so many people get caught up in web design they forget to provide information about what the business does. Include prices and other relevant details about your products.
  • Make sure your website is easy to navigate. If your customers have trouble finding the information they are looking for they will move onto a website that is easier to use.
  • Keep your page updated. If customers can tell your page hasn’t been updated in a long time they may think your business isn’t operating anymore.
  • Keep your website professional. Don’t go overboard with font choices or flash sites. Keep it simple but informative.
  • Be careful when using photos. Keep your photos on the small side. Large images take longer to load and waiting can deter customers.
  • Include your business logo and company details. Visitors should know who you are and how to reach you.

Small Business Mistakes to Avoid

Posted by Winflow – June 16, 2011

If you are new to the world of entrepreneurship, there are many common pitfalls to be aware of. It is natural to make some mistakes when starting a new business but you want to be sure that you aren’t repeating your mistakes. They key to any successful business is identifying when something is wrong and learning from it. Some common business mistakes you want to avoid include:

  • Not doing enough market research. if you don’t know your target audience, you don’t know who you are selling to. If you don’t have a good idea of who your customers are you won’t be able to change your business practices accordingly. This could lose you a lot of money.
  • Failing to analyze results from advertising. If you’re not making much profit off of a particular ad campaign stop running it. Assuming that any advertising is good advertising will also cost your business money.
  • Poor record keeping. In order to analyze how your business is doing you must keep detailed and accurate records of all expenses and profits.
  • Being dependent on a small number of customers. If you have a small customer base, figure out how to expand your target market. The more sources of income you have the less likely you will face financial difficulties when a customer does.

If you need advice about growing your small business, contact the Winflow Financial Group today.

Blogging and your Small Business

Posted by Winflow – June 15, 2011

If you’re going to utilize social media for your small business, you may as well start blogging too. Blogging is a great form of marketing and it can help attract audiences and build your company’s credibility. If you’re thinking of starting a corporate blog, here are some tips:

  • Optimize your blog posts and advertise your blog. If no one can find your blog it won’t be much use to your company. Optimize your blog posts using search engine optimization tricks to propel your posts farther up Google. It is also a good idea to link to your business blog in your company website and through other forms of social media that you may be using.
  • Use keywords, tags and meta-tags. Through Google AdWord’s Keyword Tool you can find keywords people are searching and include these keywords in your tags and title posts.
  • Include author pictures and names. Don’t blog under the name “Admin.” Personalize your blog with pictures and details so customers know they’re dealing with real people.
  • Write on topics that have to do with your business but can also be broadened to tie in current events or include how-to tips.
  • Decide who your blog is for. Is it for your customers, investors or both? Knowing who you are writing to will make posting a lot easier.

For tips on marketing your small business, contact the Winflow Financial Group at 1.800.956.6897

How Social Media Can Help your Small Business

Posted by Winflow – June 15, 2011

For small businesses today, social media is an important marketing tool. Not only does it provide, for the most part, free advertising but it gives customers a chance to be interactive with your business and will help your business grow. If you’re small business hasn’t started utilizing social media, start by:

  • Joining social networks! Create a LinkedIn, Facebook and Twitter account for your small business. If there are specialty social networks catered to your industry join them too! The more your company’s name is out there the better.
  • Use social media to communicate with your customers. Use your Facebook page to have conversations with your customers. Find out what they like. Not only will it give you a direction to improve your business in but it will show new customers that you already have a loyal customer base.
  • Encourage other employees within your small business to open social media accounts. Have your employees Tweet about the latest project they are working on to build customer buzz.
  • Use Facebook to organize company events. This way every time a person accepts your invitation all of their friends will see which means more free marketing for your small business.

If you need marketing advice to grow your small business, contact the Winflow Financial Group today.

Finding Sales for your Small Business

Posted by Winflow – June 15, 2011

When trying to boost sales for your business, it is much more effective to spend your time and resources on hot prospects over cold ones. Hot prospects are ready-to-buy shoppers with all the information they need to make an informed decision. Cold prospects don’t know anything about your business and will likely require more time and financial effort before they decide to become customers. Some tips for finding hot prospects include:

  • Create a sales and marketing system. Determine the best way to attract new customers and sales and systemize the processes to do so.
  • Use online search engines. Not only should you use the Internet for researching hot leads but you should use it to create an online prescence. Get your business to turn up at the top of search engines through web page optimization or a local paid search campaign.
  • Utilize both print and online directories for your business. Advertise in the YellowPages and in any online directory you can. Determine the best way to split your marketing between online and offline advertising.
  • Capitalize on referrals. Make connections with other businesses and ask for referrals. Customers are more likely use a referral from a company they trust and these customers typically come ready-to-buy.

For more information about increasing your sales, read this Microsoft business article.

For your small business needs, contact the Winflow Financial Group at 1.800.956.6897.

Questions to Ask Your Customers

Posted by Winflow – June 15, 2011

Market research is the backbone of growth in a small business. Whether your choose to survey your customers or conduct a focus group, learning why your customers come to your business can help you attract more business. Consider their answers and expand your marketing around their feedback. To get the most out of your market research, it is important to know the right questions to ask. When conducting customer research, be sure to ask the following questions:

  • How well do we keep our promises? Determining the level of trust a customer has in your business will determine how much they buy.
  • Why do you choose our products (over the competition’s)? Once you have found out a customer’s motivation you can do more to meet their needs.
  • Have you purchased products from our competition this year? If your customers have purchased products from your competition ask them why. This will allow you to gain insight into your competition and improve your business practices accordingly.
  • What are three changes that would make doing business with us easier for you? After you have found out what your customers want it is easy to improve your business around their answers. Capitalize on their feedback to boost your sales.

For your small business needs, contact the Winflow Financial Group.

    

Direct-Mail Campaigns and your Small Business

Posted by Winflow – June 14, 2011

With the cost-efficient invention of e-mail marketing, many small businesses have turned their backs on direct-mail campaigns. Depending on your business, utilizing direct-mail campaigns may work to your advantage. Some good reasons for choosing direct-mail advertising include:

  • Marketing to customers who aren’t online. Depending on the age demographic of your target market, you may find a number of your consumers don’t feel comfortable online. Sending out direct-mail advertisements will appeal to these types of people and bring in new business.
  • If you have just started your company website, direct-mail campaigns can send shoppers to it.
  • Sending out catalogues through the mail is still a common practice. Most email accounts will not let you attach such large documents to a weekly e-mail newsletter.
  • Marketing through direct-mail campaigns can also shift perceptions surrounding your business.

Tips for Running a Successful Direct-Mail Campaign

To use direct-mail marketing to your advantage, be sure to:

  • Identify your target audience. Mailing things costs money in paper and stamps. Save your money by only marketing to those who are likely to appreciate your business and a direct-mail advertisement.
  • Provide customer incentives. Whether it is a coupon or a store credit, providing incentives will drive customers to your business faster than information alone.

For more details on using direct-mail marketing to your advantage, read this Microsoft small business article.

For your small business needs, contact the Winflow Financial Group at 1.800.956.6897.