Effective Advertising Workshops
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Effective Advertising Workshops Newsletter

Volume V Issue 2
February/2011

Dear Reader,

 

In this newsletter:

 

New Business - Where is it and how do I find it? Advice from Roy H. Williams, the Wizard of Ads.

 

18 Common work e-mail mistakes -

The vast majority of my business mail and those of my managers and customers is via email, even contracts. I found this article especially interesting and would like to share it with you.

 

 

Small Business Planning and On-Line marketing - Are you utilizing online options in your marketing plan?

 

How to Get New Business

 

Roy H. Williams had a fascinating approach to getting new business (customers). This will make you think.......

 

Step 1.What percentage of your sales comes from repeat or referral customers? These customers are driven to you by past satisfaction or on a friend's recommendation.

DO NOT READ ANY FURTHER UNTIL YOU HAVE DECIDED ON A PERCENTAGE. Give it your best shot

 

Step 2.  What percentage of your sales volume is triggered by your location and exterior signage? These customers come to you because of your visibility.

AGAIN, WRITE DOWN A PERCENTAGE ...YOUR BEST GUESS.

 

Step 3.  Add your two estimates together and subtract from 100. The remaining percentage is your "advertising driven" traffic, new customers who come to you solely because of your ads. I would guess that this percentage is lower than you would have guessed?

 

Step 4. How many UNIQUE customers have you served in the last 12 months? Consult your records if have to.

 

 Step 5.  Apply your "ad-driven traffic" percentage to the total number of unique customers you've sold in the last 12 months. This will tell you how many new customers that shopped with you that were there because of advertising.  (If your ad-driven traffic is 20% and you had 5000 unique customers this past year, than there were 1000 customers that came from advertising).

 

Step 6. Divide this number into your advertising budget. This is what it costs to bring one new customer through the doors.

 

Step 7.  Write your Cost of Customer Acquisition - the amount of dollars you are paying to bring one new customer in the door on a large sheet of paper and hang it on the wall in front of your desk.

 

Two obvious questions:

 

1. With the cost of new costumers so high, why advertise at all?

 

2. How can I drive this cost way, way down?

 

If a prospective customer doesn't give you a chance to sell them, there can be only two possible reasons:

A.   They haven't heard about you (advertising will solve this)

B.   They HAVE heard of you but don't like what they have heard

This is negative word of mouth and again can be solved with a good ad. You may also want to invest in customer service and relationship management.

 

Here's the answer:

 

 The primary goal of advertising is to acquire new customers. Your future repeat and referral business depends on it. Good customers move away or die and you never see them again. The pipeline has to be constantly replenished. One of my first sales managers in radio told me that I needed to add 40% to my customer list each year...20% would go away and I needed to increase my sales by 20% = 40%! Each year your town grows, these new people don't have a clue where to shop. Are you reaching out to them? Are you hoping they will meet one of your good customers/? Do you think they will find you online? Or see your sign? These things can happen...is this your growth plan for 2011?

 

 

The last article below says that 46% of small businesses in the U.S. are increasing their ad budgets for 2011. Are you?

 

 

 

"OK", you say, "so we have to advertise, but how can we drive the cost of new customers WAY,WAAAAAAAAAAYYY, Down?"

 

 

It can be done. That's why the name of our company is Effective Advertising Seminars. We show you how to add new business, efficiently and effectively. Hope you can attend one our workshops this year.

 

 

90% of those reading this letter are classified as small business. You will find the following article interesting.

 

 

 

 

 

 

 

18 Common Work E-mail Mistakes

Most of us rely on e-mail as one of our primary communication tools. And given the number of messages we send and receive, we do it with remarkable success.

 

But as with anything, the more e-mails we send, the more likely we are to screw one up. And simple e-mail mistakes can be disastrous. They can cost us a raise, promotion-even a job.

 

Here in a new year, it's the perfect time to go through some of the worst e-mail mistakes employees make and how to avoid them.

1.       Sending before you mean to. Enter the e-mail recipient's e-mail address only when your e-mail is ready to be sent. This helps reduce the risk of an embarrassing misfire, such as sending an important e-mail to the wrong person or e-mailing a half-written note.

2.       Forgetting the attachment. If your e-mail includes an attachment, upload the file to the e-mail before composing it. This eliminates the embarrassing mistake of forgetting it before hitting "send," and having to send another e-mail saying you forgot to attach the document.

3.       Expecting an instant response. Don't send an e-mail and show up at the recipient's desk 30 seconds later asking if they received it. They did, and they'll answer at their convenience. That's the point of e-mail.

4.       Forwarding useless e-mails. I've never seen a single e-mail forward at work that was beneficial. Whether it's a silly joke or a heartwarming charity, there's never a time to share an e-mail forward using your work e-mail.

5.       Not reviewing all new messages before replying. When you return to the office after a week or more away, review all new e-mails before firing off responses. It might be hard to accept, but odds are, things did march on without you. Replying to something that was already handled by a co-worker creates extra communication, which can lead to confusion, errors, and at the very least, wasted time for everyone involved.

6.       Omitting recipients when you "reply all." Unless there's an important reason to omit someone, don't arbitrarily leave people off the response if they were included in the original message.

7.       Including your e-mail signature again and again.  Nor do you need to include it at the end of an e-mail you send to your long-time co-worker who sits six feet away. If you have your e-mail program set to automatically generate a signature with each new message, take a second to delete it when communicating with someone who knows who you are. It's always wise to include your phone number, but the entire blurb with your title and mailing address is often nothing but clutter.

8.       Composing the note too quickly. Don't be careless; write every e-mail as if it will be read at Saint Peter's Square during the blessing of a new Pope. Be respectful with your words and take pride in every communication.

9.       Violating your company's e-mail policy.  Many companies have aggressive spam filters in place that monitor "blue" language. From that famous four letter word to simple terms, such as "job search," don't end up tripping the system by letting your guard down.

10.   Failing to include basic greetings. Simple pleasantries do the trick. Say "hi" at the start of the message and "thanks" at the end. Be sure to use the recipient's name. Be polite yet brief with your courtesy.

11.   E-mailing when you are angry.  Don't do it. Ever. Recall buttons are far from a perfect science, and sending a business e-mail tainted by emotion is often a catastrophic mistake. It sounds cliché, but sleep on it. Save the message as a draft and see if you still want to send it the next morning

12.   Underestimating the importance of the subject line. The subject line is your headline. Make it interesting, and you'll increase the odds of getting the recipient's attention. Our inboxes are cluttered; you need to be creative and direct to help the recipient cut through the noise. You should consistently use meaningful and descriptive subject lines. This will help your colleagues determine what you are writing about and build your "inbox street cred," which means important messages are more likely to be read.

13.   Using incorrect subject lines.  Change the subject line if you're changing the topic of conversation. Better yet, start a new e-mail thread.

14.   Sending the wrong attachment. If you double- check an attachment immediately before sending and decide that you need to make changes, don't forget to update the source file. Making corrections to the version that's attached to the e-mail does not often work, and it can lead to different versions of the same doc floating around.

15.   Not putting an e-mail in context. Even if you were talking to someone an hour ago about something, remind them in the e-mail why you're writing. In this multi-tasking world of ours, it's easy for even the sharpest minds to forget what's going on.

16.   Using BCC too often. Use BCC (blind carbon copy) sparingly. Even though it's supposed to be secret, it rarely is. Burn someone once, and they'll never trust you again. Likewise, forwarding  e-mail is a great way to destroy your credibility. When people send you something, they aren't expecting you to pass it on to your co-workers. The e-mail might make its way back to the sender, who will see that their original message was shared. They might not call you on it, but they will make a mental note that you can't be trusted.

17.   Relying too much on e-mail. News flash! No one is sitting around staring at their inbox waiting for your e-mail. If something is urgent, use another means of communication. A red "rush" explanation point doesn't compare to getting up from your desk and conducting business in person.

18.   Hitting "reply all" unintentionally. This is a biggie. It's not just embarrassing; depending on what you wrote in that e-mail, it can ruin your relationship with a co-worker or even your boss. Take extra care whenever you respond so you don't hit this fatal button.

Andrew G. Rosen is the founder and editor of Jobacle.com, a career advice blog

Small Business Planning Techie Marketing

 90% of those reading this letter are classified as small business. You will find the following article interesting.

 

According to the Ad-ology 2011 Small Business Marketing Forecast, small business owners are increasingly optimistic overall, and 46% plan increased marketing spending in 2011, up from 29% who planned increases in 2010. Email marketing and company websites continue to be the most popular online marketing methods, but 45% plan to do more with online video and 35% said the same for mobile advertising.

Interest in using Facebook, Twitter and other social networks for business is up considerably over last year. While generating leads continues to be the top perceived benefit of social media, more businesses recognize the value of social media for improving the customer experience.

Social Media Sites Beneficial to US Small Business (% of Small Business Respondents)

Perceived Benefit (% of Respondents)

Site

Very Beneficial

Somewhat

Not Very

Do Not Use

Facebook

29.7%

25.4%

12.5%

32.4%

Twitter

14.6

17.6

14.0

53.9

YouTube

13.6

17.4

14.0

53.9

LinkedIn

12.9

20.1

15.2

51.9

MySpace

10.8

14.4

17.7

57.2

Groupon

7.6

8.6

12.2

71.5

Yelp

7.0

11.2

11.0

70.7

Living Social

6.9

7.7

11.7

73.7

Foursquare

4.3

9.7

12.8

73.3

Source: Ad-Ology, January 2011

C. Lee Smith, President and CEO of Ad-ology Research, says "...these businesses are putting more resources into video, and many of them are looking to jump in to mobile... becoming increasingly savvy on how to market with websites and social media... seem ready to try new ways to reach their customers... "

There are many objectives companies find social media outreach useful for, but lead generation was the top benefit reported, selected by more than half of small- business owners. The study also found that small-business owners reported that monitoring what is being said about their businesses a significant benefit. Improving customer experience was third in importance.

Social Media Benefits to Small Business (% of Respondents)

Benefit

Very Beneficial

Somewhat

Not Very

Do Not Use

Generating leads

27.3%

29.9%

9.7%

33.1%

Monitoring what is said about own business

26.3

27.7

10.4

35.6

Keeping up with industry

24.9

28.3

11.2

35.6

Improving customer experience

24.5

27.8

13.0

34.7

Competitive intelligence

23.8

27.8

11.0

37.4

Finding vendors/suppliers/partners

18.2

26.6

14.1

41.1

Resolving problems

16.6

24.6

18.0

40.8

Background checks

15.0

20.3

9.3

55.3

Recruiting

12.5

20.6

13.2

53.7

Source: Ad-Ology, January 2011

Other key findings from the study:

·         56% of SMB owners project increased sales in 2011; just 39% said that for 2010

·         22% say they are frustrated by trying to understand online advertising

·         64% report having a website, up nearly 20% from the surprisingly low 53% last year

·         50% say they plan to devote more resources to trade shows in 2011

·         15% say social couponing sites like Groupon and Living Social are beneficial to business.

Source: Research Brief from the Center For Media Research, Wednesday, January 26, 2011

 

Our website has dozens of testimonials from small business owners who used the knowledge they gained from our seminars to grow their businesses. Check us out at Effective Advertising Seminars
  
Sincerely,  

Larry Kirby
Effective Advertising Workshops
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Effective Advertising Workshops | The Kirby Companies | 4225 Sawgrass Drive | North Charleston | SC | 29420
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