How Can Small Businesses squeeze More Sales Out of a Lead Generation Funnel?

Solo entrepreneurs, home based businesses and small businesses are all faced with the uncertainty of these tough economic times. Despite all the doom and gloom, one thing that is for sure is that there will be survivors. But … “Who will they be?” “What are they going to do to make it happen?” Luck will not play the biggest part of getting through these times. It is probably safe to say that the ones who do get through this and actually grow will have taken very deliberate actions to make it so. What then will these businesses do?

The obvious first step is to streamline the costs of doing business without compromising quality to customers. This means that they will take the time to find vendors who are offering better prices, look for ways to streamline staffing costs (telecommuting, virtual assistants, cutting back hours), becoming more energy efficient (traveling less, lowering heating and cooling costs), find more affordable health insurance options and so forth. Once they have streamlined, smart businesses will continue to look for ways to get more for less while trying to increase the value that they provide to their customers.

The first place to get more for less is by finding more effective marketing strategies. It is crucial to note that the only type of marketing that should be cut is ineffective marketing. Existing marketing programs need to be evaluated for their effectiveness. Low ROI marketing strategies should be abandoned and replaced with those that have a high ROI. Effective marketing is essential for getting in front of potential customers as well as staying in front of existing ones. This is not the time to ignore your existing customer base. After all, it takes six times as much money to acquire a new lead as it does to market to an existing one. Smart businesses recognize that effective marketing is their lifeline to the future.

What is the best place to start? Systems that organize and automate essential processes for small business will create a high ROI. The best place to get started is by using a customer relationship management program (CRM).

CRM is much more than a contact management system although this is one of the functions that these programs can perform (sometimes they will coordinate with an existing one such as Outlook). CRM is the master organizer for so many different processes that a small business has. It provides a means to track and segment all customer information and then track what has been done and what needs to be done. It allows the various departments such as marketing, sales and customer service to be aware of the needs of any given prospect or customer and what needs to be done next.

What would this mean to a business that has a presence on line? It means that a prospect is able to fill out a contact form 24 hours a day/7 days a week. The prospect that fills out this form will now be tagged as a prospect in the CRM system. Depending upon the information that was checked on the form (e.g. newsletter request, product information desired etc.) the prospect will have additional tags that indicate the interests of these prospects. Depending on the type of form that was filled, the database may also now contain demographics such as age, location, occupation and so forth. All of these would be tags that help segment the list. The segmented lists will be connected to appropriate email follow up sequences that automatically send out information, education and marketing materials over a period of weeks, months or year.

This one capacity of CRM has enormous value. Consider that 80% of small businesses fail to follow up with prospects beyond three attempts and that it typically takes seven or more “touches” for a prospect to become a customer. The tragic end result for businesses that fail to follow up is that they are warming up their leads for their competition.

What else can a CRM system do? Automatically sending welcome messages, customer satisfaction surveys and promotional materials will create future sales opportunities.

It can also organize affiliate programs, billing and so much more.

A good CRM will be able to use multiple channels to communicate including: emails and newsletters, fax broadcasts, voice blasts, and direct mail post cards. An automated system is highly cost effective and efficient at generating new and repeat sales. CRM is also a time and energy saver and ultimately the best way to squeeze more sales out of any lead generation funnel.

Know More About Home Business

A home business needs perseverance and discipline, working from home is not just staying at home and watching your bank account grow, working from home means to work from home. Compared to offline business that requires a lot of money to set up, the home based internet business needs only a small capital to start up. You are mobile when you are in the home based internet business. You can work wherever you desire as long as you bring your laptop and there is an internet connection.

The internet is full with different internet home business opportunities and you must do your research before starting a new business. Many small-business owners describe starting a new business as more demanding than having a new baby – you have to be prepared to give it your full energy, time and attention at any time of the day or night. When choosing your new home based venture, make sure you don’t base your decision solely on the potential income. Instead, choose ideas that you would enjoy doing, or have a strong interest in learning and doing, because you’ll be spending a lot of time doing them. Of course, income potential should be considered, but definitely should not be the sole reason for choosing a type of home business

Compare to offline businesses that require a few months to start, the home based internet business allows you to jump in immediately. You do not need to have a company to start your own home based internet business. By generating traffic you can earn money for generating traffic joining forums, writing articles and posting advertisements. Forums provide a good opportunity to meet and attract people online to visit your website. Likewise, writing articles and posting interesting ads will attract people to visit your website.

If you decide that you would like to make your blog personal you can still focus on a niche topic such as your quest to lose weight or your hobby such as cars, sports or music etc. By focusing on a niche topic you will attract loyal readers who share your interest. Niche blogging, has it own silver lining. With people suffering from information overload, specific information dissemination through niche blogging will attract instant attention as more and more people will subscribe to your RSS feeds and would love to syndicate with such informative blog, by doing this you can earn money online.

Before you embark into a home based internet business, you need to consider these advantages and disadvantages and make the firm decision why you want to get into it. There are consequences you have to pay just like every decision you make. Are you willing to pay the price? Do you have what it takes to succeed in the home based internet business? Find out more.

When a person is first introduced to the concept of residual income affiliate program they become very motivated by the income possibilities and start immediately. However, very often the people closest to them will be the first to discourage them.

International Business Online – 3 Types of Cultural Communication Gets You More International Sales

You can’t learn to ride a bike without… well, a bike. Can you?

International business involves cross cultural communication. It is the inherent nature of the business.

To develop good cross cultural communication skills you need foreign communication exposure. With people. Live.

Cultural skills are fairly easy to develop. But you can’t pick them up reading books. You need hands on practice. Most people only need the desire to communicate with other cultures and some practice to put them on the right track.

But good cross cultural communication skills are not easy to develop if you are an online business without much direct contact with your foreign clients.

If all the cross cultural communication you are getting is through emails or order requests, this is how you are going to pick up the skills. There is simply not enough cultural interaction to actually learn with.

But what can you do if you want to get more international sales? Is there anything you can do to help your online business communicate better with your international prospects and clients?

Well you still need to learn from exposure. But you can laser focus your efforts and make progress.

First, you need to identify the three basic components of cultural communication:

International Communication

International Communication can include all aspects of international communication.

But online, it all begins with adapting your own communication for international audiences.

Make the effort to adapt your all of your communication to speak to all international visitors as well as your domestic market.

Simply make a concentrated effort not to cut out your international visitors by ignoring them.

International communication at this level is more about awareness and being universally polite in written communication. It is is the small details.

Multicultural Communication

Multicultural Communication is when your communication speaks effectively across a wide scope of cultures.

For example you can use International English to target the international English-speaking world.

Multicultural Communication may not be the best solution for your domestic market. Your domestic market might have a very strong sales message that would be weakened by communication aimed at multicultural markets.

You may or may not decide on creating two specific communication strategies: one for your domestic market and one for a wide international market.

This is often obvious to implement in non-English speaking countries. Their local communication in their native language, and their international communication in English for wide multicultural audiences.

It can be an interesting option for American companies, for example, to use International English for a wide international marketing campaign.

This could be an initial option. But this needs to be evaluated carefully. Most international marketing is aimed at specific cultures and countries once the markets are identified.

Cross Cultural Communication

Cross Cultural Communication is about targeting your communication to one particular culture.

This step in international communication requires more specific market knowledge. Your message is totally adapted to one specific cultural environment.

It can be used for effective target marketing in a specific country or ethnic group for example.

The bad news for online businesses is that you really do need some cultural exposure to get it right.

The good news?

Online businesses have the advantage of being able to test, track and analyze statistics. This will help in tweaking cross cultural communication.

If you have identified a country with a large enough market, creating cross cultural communication and working extensively with the statistics will probably be worth the time and effort.

Build On International Exposure

By focusing on each of the three types of cultural communication, you will be able to identify what you are currently doing. You will see where you need to improve international communication.

Use any contact with your international prospects and clients to see what you can do to improve the area you are weakest at.

The more exposure you get with your international markets, the more you will see how you need to adapt your communication. And practice is all it takes.

Your cultural communication skills will improve with time. And before you know it your skills will become as automatic as knowing how to ride a bike.

Are you committed to speeding up your international sales cycles?

Learn how to combine cross-cultural marketing tools and international sales strategies for faster sales.

Join us on the International Sales Road Map

Would you like to develop your international business?
Are you a beginner at international sales and marketing?
Read the Beginners Guide Discover Your International Business

Time Management Tips- How to Create More Time Every Day and Maximize Your Activities

Yes the title is rather intriguing. When there are only 24 hours in a day, how can you create more time? Haven’t we heard people complaining that 24 hours is not enough to do all their work? Haven’t we seen people wasting time and idling knowing not what to do. We also see people working efficiently in their jobs, actively participating in several organizations and yet finding time to relax with their spouses and children. Why is it that some fail to accomplish much while others are able to do much and accomplish much in life? Where do they find this extra time to do this?

1. Time Management Tip: Prioritize your work first.

You have many problems to solve, many tasks to be done on a short term and on a long term basis, but where do you start? Sit down quietly, put your thinking cap on and identify the things you consider as more important and requires immediate or early attention. Do not waste your time thinking about unimportant things. Prioritize these and also the not so urgent matters and start acting on the order of priority.

2. Time Management Tip: Focus Your Mind on the work at hand.

Every morning as soon as you wake up, look up your work schedule and plan how you intend working for the day. You have to work smart, in other words you have to work efficiently and also save valuable time. Focus your attention on your work irrespective of other considerations and distractions. Thus you will be able to focus your mind and start the day in a planed and systematic manner.

3. Time Management Tip: Do One thing at a Time.

In spite of prioterizing your work, you may find things that need urgent attention. Attempting to do many things at the same time can lead to confusion and even demoralize you. You have to accept the fact that you can’t do all at once it is always advisable to do one thing at a time, complete the task and move on to the next. Thus you will be able to concentrate on your work, work faster and boost your morale.

4. Time Management Tip: Avoid Procrastination.

While working you are bound to come across problems that you will not be able to solve. If it is not urgent, move on to the next and come back to it later. If the problem is beyond your capabilities seek external help and ensure the it is solved. Some have the habit of postponing all the difficult tasks and completing the easy ones. What happens is that the files keep on piling up and the tendency to procrastinate sets in. If you ever allow procrastination to take control of your life, your chances of success will be doomed for ever.

5. Time Management Tip: Learn to say NO.

Saying NO can indeed be very difficult. If you want to succeed in life and save valuable time, then you have to cultivate the art of saying NO whenever you consider that NO is the best answer. A simple “No Thanks, not this time, thank you for asking” will be a good answer. If you are not comfortable with this answer with certain people, you could say “Let me think about it and get back to you” or something similar to this. This will give you enough breathing space to think over it and if necessary say a definite NO when confronted with the same issue later.

Conclusion.

By adopting these tips, working smart and acting wisely Successful Businessmen, Entrepreneurs and Professionals create more time every day and participate in sevaral activities while the others watch with envy and wonder how they do it. Ordinary people think merely of spending time whereas these smart people think of using it.

Small Business Marketing and the US Census: Economic Trends, Market Research and More

What would you say if I told you there were an online tool that could provide detailed information about the size of your market including trends in your industry and other important information concerning the economy as a whole?

What if I told you that this tool could help take the hit-and-miss out of small business marketing?

And what if I told you it was free? 

The US Census site—www.census.gov—is all that and more. That’s why it’s such an essential data destination for market researchers, entrepreneurs, government agencies and anyone who needs accurate information about social and economic trends in the US.  The economic portion of the site offers a wide variety of reports—usually in the form of a downloadable .pdf document—covering topics ranging from basic economic indicators to employment statistics and more.

There is, of course, one major drawback to US census data, and that’s how often it’s collected. There are areas of the website’s economic data still based on the 2002 Economic Census, and even the economic indicators updated on a monthly basis do so based on information obtained two months previous.

Even so, there are numerous ways that US Census economic data can be essential to making informed small business marketing decisions, and having a sense of the scope of resources available will get you started in putting that data to work for you.

Does the number of households with children in your county, region or state make a difference in terms of the size of your potential market? How about the number of retirees, or individuals representing a certain minority group? If so, you’ll want to check out the People & Households section of the website which also contains important information concerning household incomes. 

These numbers could help to influence how much of your marketing budget you dedicate to reaching certain sectors of your target demographic, and where, geographically, you choose to concentrate your advertising dollars. It may also help you determine baselines for products and pricing.

If your target market is tied to a certain business or industry—the housing market, for example, or the entertainment industry—you’ll want to explore the Business & Industry section of the US Census website. This is where you’ll find general economic indicators for major areas of the economy, as well as more specific information through the North American Industry Classification System (NAICS.) This type of industry-specific info is also good for surveying exactly how your own business is doing relative to your industry as whole.

There are a number of different ways to use the information available through the Business & Industry section.  If you’re wondering, for example, what types of online businesses and e-commerce websites are making the most money—and what areas of online sales appear to be growing the quickest—you might go to the E-Stats section.  If your market includes small business owners, you might gain some useful information from the Survey of Business Owners. And, if the local economy is important to the growth and development of your business, the section marked County Business Patterns, under the heading of Economic Indicators, is a great place to start.

By taking US Census information into account, you’ll be able to “look before you leap” when it comes to major business decisions, and develop key strategies to keep pace in a changing world. 

For more information about how to put US Census data to work for your business, visit http://www.census.gov/epcd/ec02/uses.htm.

Small Business Marketing and the US Census: Economic Trends, Market Research and More

What would you say if I told you there were an online tool that could provide detailed information about the size of your market including trends in your industry and other important information concerning the economy as a whole?

What if I told you that this tool could help take the hit-and-miss out of small business marketing?

And what if I told you it was free?

The US Census site – www.census.gov – is all that and more. That’s why it’s such an essential data destination for market researchers, entrepreneurs, government agencies and anyone who needs accurate information about social and economic trends in the US. The economic portion of the site offers a wide variety of reports – usually in the form of a downloadable .pdf document – covering topics ranging from basic economic indicators to employment statistics and more.

There is, of course, one major drawback to US census data, and that’s how often it’s collected. There are areas of the website’s economic data still based on the 2002 Economic Census, and even the economic indicators updated on a monthly basis do so based on information obtained two months previous.

Even so, there are numerous ways that US Census economic data can be essential to making informed small business marketing decisions, and having a sense of the scope of resources available will get you started in putting that data to work for you.

Does the number of households with children in your county, region or state make a difference in terms of the size of your potential market? How about the number of retirees, or individuals representing a certain minority group? If so, you’ll want to check out the People & Households section of the website which also contains important information concerning household incomes.

These numbers could help to influence how much of your marketing budget you dedicate to reaching certain sectors of your target demographic, and where, geographically, you choose to concentrate your advertising dollars. It may also help you determine baselines for products and pricing.

If your target market is tied to a certain business or industry – the housing market, for example, or the entertainment industry – you’ll want to explore the Business & Industry section of the US Census website. This is where you’ll find general economic indicators for major areas of the economy, as well as more specific information through the North American Industry Classification System (NAICS.) This type of industry-specific info is also good for surveying exactly how your own business is doing relative to your industry as whole.

There are a number of different ways to use the information available through the Business & Industry section. If you’re wondering, for example, what types of online businesses and e-commerce websites are making the most money – and what areas of online sales appear to be growing the quickest – you might go to the E-Stats section. If your market includes small business owners, you might gain some useful information from the Survey of Business Owners. And, if the local economy is important to the growth and development of your business, the section marked County Business Patterns, under the heading of Economic Indicators, is a great place to start.

By taking US Census information into account, you’ll be able to “look before you leap” when it comes to major business decisions, and develop key strategies to keep pace in a changing world.

For more information about how to put US Census data to work for your business, visit http://www.census.gov/epcd/ec02/uses.htm.

5 Ways To Improve Your At Home Business Marketing And Attract More Prospects

One of the vital aspects of growing a home business is marketing. Too many overlook this and the truth is, if you are not promoting, you’re dead in the water.

Network marketers need a steady flow of prospects to survive and finding an at home business marketing solution is key to their survival. It doesn’t need to be complicated. The best and most cost effective way of promoting is article marketing.

Articles are priceless as a promotion tool for your business. Did you know unlike a paid campaign which ends once you stop paying articles continue marketing for you long after you’ve written them. We call them our own team of salesmen which keep flying the banner for us years after being published.

If you think you cannot write then think again. In this article, we outline some writing tips to help boost your at home business marketing efforts.

1. Create a steady and consistent schedule. Unless you are producing a consistent stream of content promoting your business then you’ll get haphazard results. We suggest you produce at least ten articles a month for your network marketing business.

2. Make a commitment to write on one or two particular days a week. Writing ten articles a month is not a massive task. It’s just over two per week. Make one day a week your writing day. If you produce ten pieces a month then that will give you 120 articles for the year all doing one thing, promoting you and your MLM business.

3. Set yourself a challenge each time you sit down to write. That is, to create some urgency, give yourself a set amount of time to write the article. For example, if you think you can produce it in 30 minutes then challenge yourself to create it in that time. It’s amazing how efficient your brain becomes when it is given a time and end goal to meet.

4. Create a list of topics ahead of time you’re going to write about. That is, produce a list of keywords around your business. When you’ve done this, then come up with at least two secondary keywords for each main word. Knowing what you’re going to write about ahead of time simply cuts out any chance of wasting time and procrastination.

5. Organize someone to become you’re accountability mentor. This is a great process and will have a big impact on your at home business marketing efforts. It works simply by stating your goals for any given day or month to someone and then checking in with them to declare your work. Your accountability partner needs to be someone you don’t like letting down; even someone you fear a little as this can really kick your urgency mode into high gear.