Archive for the ‘Customers’ Category
Monday, December 12th, 2011 |
Small Business Confidence Has Minor Uptick
The NFIB’s “Optimism Index” gained 1.3 points, nudging the index up to 90.2. Listen as Dave discusses the main reason the index remains mired in low readings. Read complete article on NFIB’s website.
Market Analysis
According to Celtic myths, there was once a magical cup. This cup satisfied the tastes and needs of all who drank from it. These myths led to the legend of the Holy Grail. The business equivalent of the Holy Grail is the Business Plan. The real value of a business plan is the process. Listen as Dave gets a rare opportunity to take you through the process of completing a “Market Analysis.”
Listen or download below:
Know Your Customer
Posted in Business Planning, Customers, Economy, Finance, Getting Down to Business® Podcast | No Comments »
Thursday, June 9th, 2011 |
What first impression does your business create for potential customers? Your business’s exterior is crucial in shaping customer opinion. From my Business/News & Views article, Marketing for Appearances:
“Have you ever driven past a small business and thought it looked dingy, dilapidated or outdated? Have you ever been on a website that felt cumbersome to use, with the information you sought hard to find? Perhaps you think the business owners must not care anymore, or they don’t have the budget to fix things up. Even worse for the business, you might not think anything, but simply keep driving or surfing the web.”
Read the full article: Marketing for Appearances
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Posted in Customers, Marketing, Small Business | No Comments »
Monday, June 6th, 2011 |
In the News
Dave Weatherholt starts off this Getting Down to Business with social-networking sites that link entrepreneurs to pools of money. Security & Exchange Commission (SEC) considers allowing equity stakes on crowd-fund sites. This could be a great source of funding for small businesses, says Dave.
Outcast Productions
Kimberley Gray and Elisa Hitchcock met 14 years ago working on murder mystery dinners and started Outcast Productions, LLC. Today, their part-time business with expanded services is thriving. Listen and learn from their business story.
Go it Alone
Geoff Burch is in rare form on his “Go It Alone” segment. Listen as Geoff gives business advice to Kimberley & Elisa with great wit and witticism guaranteed to make you laugh.
Listen or download below:
A Great Bunch of Characters
Posted in Customers, Entrepreneurs, Getting Down to Business® Podcast, Sales, Small Business | No Comments »
Wednesday, February 16th, 2011 |
As “Getting Down to Business” gets started, David Weatherholt brings us some surprising news – mining is on the rise across the globe. David’s first guest is Leslie Ellis, President of Credit Union 1, or CU1. David begins the discussion with a history of credit unions, and asks Leslie to explain her fresh, creative approach to running a credit union. David concludes that CU1 is simply an amazing company.
Dan Robinson, Senior Economist for the McDowell Group joins the show for his segment “Financial Help for Small Business.” Dan brings expertise to the topic of gold prices, the abundance of precious and semi-precious metals in Alaska- even talking about the modern resurgence of individuals running a gold mine!
Listen or download below:
An Amazing Company
Posted in Alaska, Customers, Economy, Finance | No Comments »
Monday, February 14th, 2011 |
I wrote about Getting Customers to Call in January’s Business/News & Views®. For many businesses, getting customers to call is one of the most profitable things customers can do for their business. But most businesses do a poor job of motivating customers to call them.
Here are two of my tips from the article:
- Offer a gift card or other “free gift” to the first hundred callers.
- Ask a compelling question to which they can only learn the answer if they call.
For all the tips on getting customers to call your business, read the full article here: Getting Customers to Call
Posted in Customers, Marketing, Small Business | No Comments »
Tuesday, February 1st, 2011 |
Welcome in the new year with January’s Business/News & Views®. Get inspired to compete at the top of your industry with David Weatherholt’s “Be The Best” article. Learn tips to “Getting Customers to Call” you from Amanda Cullen. And keep your laptop safe with “9 Ways to Increase Laptop Security.”
The optimism can’t last though, with David Weatherholt’s economic news summary telling us about, “The Uncertain, Jobless Recovery.” At least January’s economy receives a grade of C.
Read the newsletter: January’s Business/News & Views®
Posted in Customers, Finance, Getting Down to Business® eNewsletter, Marketing, Technology | No Comments »
Thursday, January 13th, 2011 |
I just returned from a business trip to Israel, where I also had a little time to tour with an amazing guide. He took my companions and me from Jerusalem to the northern part of the Sea of Galilee, relating the biblical and recent history of each place we passed. He took us to places tourists couldn’t ordinarily go. He was charming, funny and extremely well-informed. For logistical reasons, I didn’t find out the price of the tour until the end of the day. I was expecting to pay perhaps $200-500. And I was glad to pay it. I got an incredible education.
His price? $300 a day. Not per person. Per day. My share worked out to $60.
You see, my guide priced his tour based on his costs. He loves to visit Israel, so he charges enough on tours to cover the cost of his airfare. But his pricing should be based on the value to his customers. I felt so bad paying only $60 that I gave him a substantial tip. But if you are a small business selling products or services, it’s very rare that your customers will think to tip you. They assume the price you’ve set is fair.
Read more… The Value of Pricing
Posted in Customers, Marketing, Sales | No Comments »
Friday, December 3rd, 2010 |
René Haag, owner of Blaine’s Art Supply joins David Weatherholt on this special rebroadcast of “Getting Down to Business.” Blaine’s Art Supply has been in business for over 50 years, and is one of Anchorage’s most established businesses. René has valuable advice for small businesses on sustaining a business throughout the years.
Our resident sale guru, Geoff Burch, tells listeners how they can get a “yes” with every customer. Geoff knows that an endless stream of “yes” answers are every salesperson’s dream.
Listen or download below:
Art for Sale
Posted in Alaska, Customers, Getting Down to Business® Podcast, Sales | No Comments »
Wednesday, November 24th, 2010 |
In Business/News & Views, we provided nine places online to advertise your ecommerce business locally – and most of them are free! But why should you advertise locally if you sell on the Internet?
Many online businesses are overlooking their local market in an effort to go global. This is a mistake according to Rieva Lesonsky, CEO of GrowBiz Media. She said it should be the first place a business starts. Why? It builds credibility in your community, and people still want to buy from people they know and trust. So how do you let the community know you are open for business? Learn how to start where they are first- online.
Read the full article: Where to Advertise Your Ecommerce Business Locally on the Internet
Posted in Customers, Marketing, Technology | No Comments »
Thursday, November 18th, 2010 |
In my Views article for Business/News & Views, I ask, “What is the value of a customer?” To help you answer this question for your business, I’ve compiled a worksheet, available as a Microsoft Excel spreadsheet with formulas or an Adobe PDF:
Value of a Customer (Microsoft Excel)
Value of a Customer (Adobe PDF)
I write in the article:
These are scary times to be in business, and determining the real cost of doing business may be something you would rather not know. The good news is that we can closely examine our costs and focus on methods for identifying controllable costs and minimize those costs.
Read the full article: The Value of a New Customer
Posted in Customers, Finance | No Comments »
Monday, November 15th, 2010 |
Marketing is everything. So I write in the last issue of Business/News & Views. I’m not exaggerating, and here’s why:
If marketing is an expression of your company’s reputation (or brand), then every experience your customers have with your company is a marketing interaction. Your customers don’t stop evaluating your company and forming opinions just because they aren’t interacting with your traditional marketing. Here are five reasons why everything you do is marketing.
Read the full article: 5 Reasons Marketing is Everything
Posted in Customers, Marketing | No Comments »
Friday, September 10th, 2010 |
Targeting customers, launching campaigns… capturing eyeballs. Are these really the metaphors we want to use when marketing our products and services? In my Business/News & Views article, “Marketing isn’t war on your customers,” I write that it’s dangerous for profits to talk about waging war on our customers, because someday we might come to believe its true. Modern customers are savvy, opinionated and have lots of choices. We can come up with more realistic metaphors to describe marketing to them.
For better metaphors and examples of good marketing, read the full Marketing isn’t war on your customers article.
Posted in Customers, Marketing | No Comments »
Tuesday, April 20th, 2010 |
April’s Business/News & Views® carries articles concerning your business’ marketing communication, how to become a peerless competitor, the current economic state and some news about Wells Fargo.
David Weatherholt introduced his Peerless Competitor Pyramid, giving businesses solid advice on improving their competitive standpoint. Amanda Cullen focuses on communicating with customers in ways that are meaningful to them.
Read Now: April 2010 Business/News & Views®
Posted in Business Planning, Customers, Getting Down to Business® eNewsletter, Marketing | No Comments »
Thursday, April 15th, 2010 |
Small businesses have the natural competitive advantage of “being easy to do business with” – being flexible, personable and building relationships. In my article from Business/News & Views®, I write about how you can improve your customers’ experiences and ways to become easier for your customers to do business with.
Read the article: Be easy to do business with.
Posted in Customers, Marketing | No Comments »
Wednesday, March 24th, 2010 |
When it comes to marketing, small businesses actually have many advantages over larger ones. In my article, “5 Small Business Marketing Rules,” I introduce the rules and a test for you to see how your marketing stacks up. In future articles, I’ll delve into each rule in detail.
Take the test and read the full article here: 5 Small Business Marketing Rules
Posted in Customers, Marketing, Small Business | No Comments »
Wednesday, February 10th, 2010 |
There are two aspects to growing your website’s traffic: getting more visitors and getting visitors to come back. “How to Get Repeat Visits to your Web Site,” an article from Business/News & Views®, addresses the latter issue.
Think about what makes you return to certain web sites on a regular basis. It’s probably the new and compelling content — on topics you truly care about — that greets you every time you drop in. That content might be in the form of fresh blog posts, new video footage of your favorite sports teams or insider news that pertains to your industry. These things can all be considered “sticky.”
Read the full article: How to Get Repeat Visits to your Web Site
Posted in Customers, Marketing, Social Networking, Technology | No Comments »
Monday, December 21st, 2009 |
The December issue of Business/News & Views® is chock full of useful news and great advice for small businesses. In the news, David sees growth in the economy’s future with his Economic News Update. Amanda Cullen writes an article about creating great customer experiences and how that grows your profits. David weighs in with the importance of tracking your business’s performance numbers. He provides an easy-to-use cash flow statement and walks readers through each step in this helpful article. Finally, Kevin Donnigan details the seven top social networking sites for businesses– and how you can use them for your business.
Read Now: Business/News & Views® - December 2009
Posted in Business Planning, Customers, Economy, Getting Down to Business® eNewsletter, Marketing, Small Business, Technology | No Comments »
Monday, November 9th, 2009 |
David Weatherholt talks with Dan Sullivan, Mayor of Anchorage, about the relationship between government and small business. Throughout the decades, government regulation has been pilloried, but without some key legislation, our business environment would be unstable, recessions would be less predictable and small businesses would find it difficult to thrive.
Dan Sullivan shares his business background and the similarities between running a business and a municipal government.
Later in the show, Amanda Cullen, of Zoo in a Jungle Marketing, explains relationship marketing and how small businesses can develop strategies to build relationships with their customers. Strong customer relationships lead to stronger loyalty, more numerous customer referrals and higher profits.
Listen or download below:
Alaska Municipal Government, Small Business and Customer Relationships
Posted in Alaska, Customers, Getting Down to Business® Podcast, Small Business | No Comments »
Friday, October 23rd, 2009 |
What does it cost?
Have you ever gone to a local store because of their advertisement? And have you been disappointed by the overall customer experience?
The company, you add the name, just wasted valuable advertising dollars on poor customer service. Buy low. Sell high. Keep the difference. Customer service is an expense that increases businesses costs, the buy part of the equation and reduces the difference. Businesses face a myriad of costs from credit, insurance, bank and credit card fees, labor, shipping, travel, taxes and now add the cost of customer service, wow!
If you can pass all of these costs along to your customers and remain competitive, great. If not, then your profit margin takes a hit. In business someone has to pay every cost (although the government is trying to change that). The simple choice is; either you or your customer. If the business does not pass a cost along to the customers, then they are paying. The question, are your pockets that deep? Will your customers accept these costs?
There is a way to take charge and reduce businesses expenses. These are scary times to be in business and determining the real cost of doing business may be something you would rather not know. The good news is that a close examination of business expenses will identify areas that are controllable. Armed with this information, a plan can be developed to trim costs and increase profits.
Customer Service is one controllable expense that, when addressed, will produce a win/win for you and your customer. Advertising should always be looked at as an investment in your business. Creating and implementing effective advertisement is a great way to increase sales. You are buying leads to interested potential customers. Customer service converts these leads to sales.
If the advertisement effectively attracts potential new customers, it has done its job. If this potential client is converted to a customer returning again and again, then your investment has paid off. If, however, a potential customer has a bad buying experience, then your investment in advertising has turned into a business expense that should be reduced.
The value of a new customer can be calculated, and that final number may surprising. In a simple example of a restaurant bringing only $10 per customer means that single customer represents over $1,500. If you spend $5,000 on an advertising campaign that produces 10 new customers…well it doesn’t take an MBA to figure out this was a good business decision. Using the “New Customer Value” worksheet is the tool needed to calculate the value of a new customer. The sheet is available in two formats, an Excel spreadsheet containing formulas and a PDF file for hand calculation. Click to download below:
Value of a Customer Worksheet (Adobe PDF)
Value of a Customer Worksheet (Microsoft Excel)
During economic downturns you will have time to closely examine your business, make corrections, and be ready for the inevitable upturn, returning with a leaner, more profitable company. Knowing the value of a customer, new and old may not only pleasantly surprise you but become a helpful tool for measuring your advertising investment against the benefits produced. Your staff can see the economic value of providing good customer service, which promotes the success of your business, moving it to the next level.
Posted in Customers, Marketing, Recession, Reducing Business Expenses | 1 Comment »
Monday, June 15th, 2009 |
In the June 2009 issue of Business/ News & Views®, David Weatherholt delivers a stirring op-ed to see the opportunity for cutting costs in this recession– there’s never been a better time to trim fat. Amanda Cullen explains how your existing customers create new customers for you. The Internet Tips & Tricks feature provides advice for small businesses on getting more websites to link to their websites.
Read now: Business/News & Views® – June 2009
Posted in Customers, Entrepreneurs, Getting Down to Business® eNewsletter, Marketing, Recession, Reducing Business Expenses, Sales, Small Business | No Comments »
