10 Most Important To-Do’s To Have A Successful Business
By Ken Varga | July 25, 2010
The following aren’t necessarily in the order of importance, but if all are implemented you can’t help but succeed. Next to each To-Do is a link for more information:
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Create Data Base of your clients. You need all pertinent data like name, address, email, spouse’s name, birthday for them and their spouse, and whatever data you need. I would also get the data of every family member. http://www.kenvarga.com/news/a-method-to-collect-information-to-create-your-customer-database/
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If possible, connect with your customer/clients weekly.
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Dominate your market by becoming the expert that everyone goes to when they need what you offer. http://www.kenvarga.com/news/dominate-your-market/
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Do Special Events. IE: "Give A Little And Get A Lot— how this simple principle can cause a crowd of people to market your business to the world! http://www.aweber.com/b/1Bvci
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If possible, do a 30-minute radio talk show in your local area. In it, address the pain the listeners are in and how you are able to help them. http://www.aweber.com/b/1LBOq
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Each time a customer buys from you, put the transaction in your data base and have an employee call to thank the purchaser for being your customer. Ask the customer: “Why do you purchase from us and not our competition.” They will give you information that you can use to create more customers.
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Create a Referral System where you bring your customer/client from being a customer to becoming an advocate of your business. http://www.kenvarga.com/news/growing-through-referrals/
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Make sure your advertising is responsive and measurable. Create a free report. http://www.aweber.com/b/1Q_wC
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Upsell. Create a package of your products and offer them to your customers as a package. http://www.kenvarga.com/news/promotions-you-can-take-to-the-bank/
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Inspect what you expect. I used to call my own office to make sure my people answered the way they were taught. http://www.kenvarga.com/news/inspect-what-you-expect/
Topics: Business ideas, Customer Retention, Database creation, Getting Referrals, Grow Sales, Special Events, customer acquisition, customer satisfaction, customer surveys | No Comments »
How To Use Trade And Consumer Shows To Expand Your Business
By Ken Varga | July 18, 2010
I’m writing this week about this topic because I recently visited my local Chamber of Commerce’s Expo, where about 200 businesses had booths and/or offered food in the food court. What a terrible experience. Not one…not one of the exhibitors had any mechanism to gather the information from a visitor.
Why would they need to do that? Because how can you contact or build rapport with a prospect if you never got them to give you their contact information.
All that was needed was to have a drawing for a prize where the visitors would fill out a card with their name and email address.
Trade Shows and Consumer Shows are one of the most abused and misused marketing tools in the world. The majority of exhibitors go into a show without any strategic plan. And if they do happen to have a mechanism to gather the visitor’s information, they do a terrible job of follow-up. Every time I go to a show, I’m just amazed watching the reps standing around in the booths looking brain-dead.
Here are some keys you should consider if exhibiting:
1. Create a detailed plan of what you want to accomplish and who you want to talk to.
2. Do some pre-show marketing in the local media. Target this to those “groups” of prospects you want to visit your booth.
3. Create a method of collecting and qualifying the leads.
4. Create a strategy for making immediate sales. No one ever asked me to buy when I stopped at their booths.
5. Create a plan for following up on the leads IMMEDIATELY after the show.
If you do one thing and one thing only, create a form to have whoever stops at your booth fill in their contact information. This way, you can communicate with them over the next few months.
Refer to my blog article at http://www.kenvarga.com/news/how-to-get-a-95-closing-ratio and read about what you should do to get a 95% closing rate. In order to accomplish this you need to communicate with them over the next 13 months at least 15 times.
Topics: Consumer Shows, Growing your business, Trade Shows, customer acquisition | 6 Comments »
Three Steps To Creating A Powerful Marketing Message
By Ken Varga | July 8, 2010
Most small businesses are confused about their marketing message. Some think that a slogan will suffice, some think that an ad about how great their company is will do, or that saying how long they have been in business will work.
How about those companies that think it’s their mission statement and vision statement that is their marketing message.
It’s none of those.
Whenever I consult with a company, I ask them, “What is your marketing message,” and the above are most of the answers I receive.
However, your marketing message is what will grab your prospects’ attention. It tells your prospects why they should trust you, why they should choose to do business with you rather than your competitors, and says how you can solve their problem.
That’s it in a nutshell.
It should “speak” to your prospect. This is done by appealing to your prospect’s hot buttons and whatever will trigger an emotional reaction. You must research and find those hot buttons.
Here are three things you should do and explore when putting together your Marketing Message:
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Identify the problems that your target market is having. You must ask yourself the following question: “What problems are the members of my target market having and how do those problems make them feel?” Each target market, individually, has its own frustrations and pains. The secret to putting together a message that will make members of your market sit up and listen is to identify the problem and the pain they feel as a result of that problem. They don’t care about your company, or how great you are, or how long you’ve been in business. Identifying their pain and suffering tells them that you understand and empathize with them. Let them know that you care.
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Present them with your solution to their problem. Ask yourself the question. “What is the solution that I have to offer my prospect?” Present your solution as a “cure” for all of the pain and suffering they are going through as a result of this problem. Put yourself in the situation of your customer. Would you make a decision on purchasing something unless you feel an excruciating pain? Now is the time to identify all the benefits of your solution. Identify how those benefits will improve their lives and how great they will feel when you take that pain and anguish away.
- Explain what makes you different from your competitors. To start, ask your present customers the following question, “Why do you deal with me rather than with (your competitor’s name).
Once you know how you are different from your competitors, you need to communicate your differences. Those differences need to have a perceived value in the mind of your prospect, so help them along in your message. It needs to be something they care about.
Remember what I always say to myself when I do any shopping. What’s in it for me?
Again, all of this starts with knowing the wants, problems, needs, and fears of your target market. It ends with you putting together a message that speaks to those problems in a very compelling and believable way.
Do the above 3 things and you will create an irresistible message that makes your prospect want to know more.
Topics: Advertising, Attract More Clients, Attract more customers, Differentiaing yourself from your competition, customer acquisition | 4 Comments »
We the users of Facebook and Twitter do ordain…
By Ken Varga | June 30, 2010
This is a news article heading in the San Jose Mercury Newspaper on June 19, 2010.
A group of privacy advocates, computer scientist, lawyers and others got together the day before to create a “Bill of Rights” for the “social Web” and for social-network users.
Since Facebook and Twitter are becoming so huge, they could be thought of as representing a nation. Facebook has somewhere around 400 million users…more than the population of the US. Twitter has around 75 million.
Users are beginning to feel vulnerable and like they are losing control of their personal information.
And data mining by companies that specialize in people searches are making information readily available that creates risks for people’s safety, especially for people who have been victims of past violence and who are trying to hide from angry past spouses or stalkers.
And of course, a big concern of privacy advocates is the ease of advertisers accessing information and using it without the private citizen’s consent.
So the privacy group has come up with a list of 14 guiding principles. You can check out the principles at www.facebook.com/CFPBillOfRights and you can vote to support or oppose it. The list is short and will only take about a minute to read. There is not much detail in it at this time, but it’s a start.
What you are seeing here is the beginning formation of policy for a system and technology that is having, and will continue to have, a huge influence on our lives into the future. The time to start having input into how it is used should be sooner not later.
So take a look at the principles and cast your vote. If you approve of the principles, click on the “Like” button at the top of the page. If you don’t, click on the special link Facebook has provided in the second paragraph on the page.
And, of course, let me know what you think of this whole issue. Do you think it’s on the right track…does it say enough or does it ask for too much? Do you think there should be a Bill of Rights for the social Web? Do you see this as having a negative impact on you as an advertiser? If so, do the rights of the advertiser outweigh the rights of the individual?
Topics: Facebook, Social Media, Twitter | 2 Comments »
The Biggest Mistake You Can Make
By Ken Varga | June 26, 2010
As I travel, I have an opportunity to read many ads in many magazines and newspapers. What disturbs me is that 99% of them are downright dull and I often yawn when reading them.
As the saying goes, “How you say something is just as important as what you say.” An ad should be similar to a face-to-face sales pitch.
A great ad will have, not only the offer itself, but the language, the tone, and the “voice” of the offer.
The problem is that most sales messages get so engrossed in describing the company, its products, and product features that they fail to appeal to the reader.
It’s understandable. People in business are often so tied to their businesses or products that they get tunnel vision and fail to look at their copy from their reader’s perspective.
It’s understandable, but inexcusable.
My advice is to be more experiential in your ads, as if the reader is experiencing what you are telling them. Let them feel or imagine how it feels. Make it “benefit-rich”. Most importantly, appeal to the reader’s ego when describing those benefits.
People always buy for, or are influenced by, personal desires, selfish reasons and self-interested motives. And guess what? It’s been that way for thousands of years, and nothing’s changed.
People are people. They always buy on emotion and they always will.
Our job as entrepreneurs is to express our offers in terms that trigger the prospects emotions, press their hot buttons, tug at their heartstrings, and push them into taking action.
To do otherwise with your offers is the biggest mistake you can make.
Topics: Advertising, Attract More Clients, Attract more customers | 2 Comments »
What customers don’t want to hear!
By Ken Varga | June 17, 2010
I personally feel that there is some sort of mediocrity that has infiltrated most businesses. Needless to say, I hate shopping and only do it with my wife Barbara. Over the last 6 months, I’ve created a list of some of the things I heard when shopping and that turned me completely off. Here they are:
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“If you purchase this item now, you will help me meet my quota for the month. “ It meant to me that this individual was not really successful and was using me instead of helping me with why I should purchase that item. What he should have said was something like: “This (whatever) has been very popular and our customers are excited about the results they are getting.”
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“We can deliver your item sometime next week and will call you when we are in your neighborhood.” This clearly showed that they were making it convenient for them rather than convenient for me. Very selfish. They should have said. “We can deliver this to you next week. What day and time is convenient for you?”
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“That’s not my department.” They didn’t even tell me who or where to go to find my item. They should have said: “I know the right person who can help you with that item. Please come with me.”
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“Oh my God. It’s been so hectic for me this morning. I barely made it to work, traffic was terrible, my Mom is sick and I had to take my dog to the vet, and my leg hurts.” I didn’t want to hear about her problems. I wanted to purchase what I was there for and get out. All she had to say with a smile was, “Good morning, I’m glad to meet you.”
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“You’re the first person who has complained about our service.” This statement was made to make me feel inferior and to imply that I was a troublemaker and that the company could do no wrong. He should have said, “Even though we receive many compliments about our product, we know there is room for improvement, so I’m beholding to you for making me aware of the problem.”
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Here’s another problem, one I encountered just this week while I was talking to a sales rep. She said, “Tell me your name again and why you are here.” It made me feel as if she didn’t listen to me in the first place. We walked out and will never shop there again. She should have said, “Mr. Varga, as I understand you, when you wife got home, she noticed a rip in the blouse where the security sensor was taken off. Right? Then let me help you with that.”
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When my wife wanted to exchange an outfit she bought for another one, she was told: “That’s against our policy.” Wow! Turned my wife completely off. She wasn’t asking for her money back, just to exchange to a different size. The sales rep should have said: “Mrs. Varga, while that is against our policy, I believe we can find a way to accommodate your request.” Doesn’t that sound better?
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Last but not least. When we walked into a store we heard, “Sorry, it’s closing time; you can’t come in.” This told me that this person wasn’t trained properly, as all of the above weren’t trained properly, and should have said, “As you can see, the store is closing now, but I will be happy to stay and help you.”
Could any of your reps be unknowingly telling your customers what they don’t want to hear? Might you also say the wrong thing when you are having a “bad day”? Or when you are rushed?
How can you make sure this doesn’t happen in your business? Let me know.
Topics: Customer Retention, Lifelong Customers, customer satisfaction | 32 Comments »
You, Adversity and Blockbuster Video
By Ken Varga | May 29, 2010
What would it take for your business to survive in the face of adversity? Let’s take a look at the possible bankruptcy filing by Blockbuster Video and what that has to do with you.
All over the country there are now chains of stores that have a video dispensing machine where a person can rent a DVD for $1. Then there is Netflix where you can order videos on your computer, and there is Hulu, where you can stream video to your computer.
Last week it was announced that Blockbuster might push for Chapter 11 bankruptcy protection. In a filing with US regulators, Blockbuster pointed to “significant liquidity restraints” and a steadily-mounting debt.
This is what they said, according to the Associated Press: “The increasingly competitive industry conditions under which we operate have negatively impacted our results of operations and cash flows and may continue into the future. These factors raise substantial doubt about our ability to continue as a going concern.” Blockbuster lost $569 million dollars last year and currently has more than $975 million dollars in debt.
Could the era of video stores be coming to a screeching halt?
How does this apply to you?
Here are my thoughts on what may have happened at Blockbuster headquarters…
Blockbuster saw the rising trends, but they believed they could withstand them. They added an online arm to their business to try and address the online trend, but their offline business model remained basically the same. They thought that if they marketed heavily enough they could have the best of both worlds.
Many of the upper managers were probably also trying to protect their jobs, so the solutions they were coming up with were all limited to solutions that worked along the lines of job protection. If this was the case, no one could really come up with creative solutions that matched reality…the growing trends. Their solutions could only be extensions of the old blockbuster model, which didn’t take into account the current technological trends, since those trends did not exist at the time the model was created.
Coming up with solutions to extend the old model in the face of new trends is certain to lead to demise of a company. If the company is to survive, the model has to be changed to include the new trends, not patched up or added on to. No amount of marketing will help the company survive unless its model is redone to accommodate the new trends.
How about you? Is your business model being redone to accommodate the new trends in the business world? Or are you hoping that with enough marketing, perseverance, and grit you will pull through? Are you or your employees holding on to the old model because you believe that’s the way to protect your “job”? Actually holding on to the old model is the guaranteed way to lose your “job”.
If you haven’t done so yet, start taking the trends you observe seriously, and begin to adjust your business model to incorporate those trends. Unless you do, your business may meet the fate Blockbuster is facing.
Let me know your thoughts about this article and what challenges you may be facing in adjusting your business to make sure it survives and thrives in the face of the rapid changes going on around us.
Topics: Business ideas, Competing and winning | 6 Comments »
A haircut and a new customer—or how to grow your business
By Ken Varga | May 21, 2010
Here’s an experience I just had this week. I was reading my local newspaper, and an ad jumped out at me. It was for a Hair Salon. It stated: “Bring this Ad with you and your first visit is FREE.”
I set up an appointment and complimented the owner on her ad.
Here’s the interesting part—
When I was leaving, the girl that did my haircut gave me a small bag with a gift of a sample shampoo they probably got from their supplier, but also a small sample of the conditioner she used when she washed my hair. And in the bag was a “Thank You" letter from her.
Here’s what the letter said.
Hi
I just want to say it was a privilege to have the opportunity to treat you to one of my personalized haircuts and styles.As a thank you, I am giving you 50% off your next haircut and style when you book your next haircut.
Please call and reserve your time with me, Elaine at Salon by the Sea, 732-282-1600.
My hours are Thurs 10-8 Fri 9-5, Sat 7-4.
Sincerely
Her name, address and the website
The reason I’m mentioning this is that you could massage this process to fit your own enterprise.
The thing is that I still paid for the haircut, because I’d feel bad if I didn’t. Plus, the salon owner now also has a new client because she gave me a great haircut and created a great “experience”. Could you do something similar and get similar results?
Let me know in the comments section below how you might use this concept in your enterprise.
Topics: Attract More Clients, Attract more customers, Grow Sales, Growing your business, customer acquisition | 13 Comments »
Video Testimonials And Your Sales Process?
By Ken Varga | May 16, 2010
I want to share with you an experiment I conducted. I invited a group of 20 customers to a lunch. It cost me a less than $200 for the event. The reason I invited them was because I wanted to test the different reactions of individuals to written testimonials and video testimonials.
Everyone, I mean everyone in the group, stated that they were more motivated with the video testimonials than with the written one. When I asked them why? Their response was that they were more believable. In fact, 6 of the individuals said, “I can see their eyes, and I can tell when I look at someone’s eyes, whether or not they are telling the truth.
Remarkable, isn’t it.
How regularly do you collect testimonials and success stories from your customers? I keep experimenting, and I could be much better at it. I now have my video camera constantly with me, and when I speak or I’m talking with someone I’ve helped, and they mention how I’ve helped them to increase their wealth, create more customers, or whatever, I then pull out my camera and ask them to repeat it on camera. I have yet to have one individual say “No”.
The truth is that testimonials influence. All of us are interested in hearing what other people like ourselves think. It is powerful to be endorsed by another for the results you created. If you don’t have a regular process in place for collecting video testimonials, now’s the time to start.
And by getting them on your website, especially video testimonials, it makes it easy for new visitors to understand how wonderful and effective you really are. And they also get to know what you really look like when you are speaking to them.
This should reduce the length of your sales process, as the people will have convinced themselves to become your client or customer by reviewing your testimonials.
What has been your experience with video versus written testimonials? Is it easier for you to collect one over the other? Do have a process in place for collecting either? Have you found that one works better for you than the other? When you encounter testimonials on a website, which format do you prefer to view them in…text or video format? Let me know.
Topics: Uncategorized | No Comments »
The DASH
By Ken Varga | May 8, 2010
I recently read the following poem and thought I’d share it with you; it reminds us of what’s truly important. We tend to operate like time will never end for us; however, it does…too soon for most of us. I hope this gives you a little bit of thought to rearrange your own life to be the way you want it to be.
“I read about a man who stood to speak at a funeral of a friend.
He referred to the dates on her tombstone from the beginning to the end.He noted that first came the date of her birth, and spoke of the following date with tears,
But he said what mattered most of all was the DASH between those years.For that DASH represents all the time that she spent alive on earth…
And now only those who loved her knew what that little line is worth.For it matters not how much we own…the cars, the house, the cash.
What matters is how we love and live, and how we spend our DASH.So think about this long and hard…are there things you would like to change?
For you never know how much time is left that can still be rearranged.If we could just slow down enough to consider what is true and real,
And always try to understand the way other people feel.And be less quick to anger, and show appreciation more,
And to love the people in our lives like we’ve never loved before.If we treat each other with respect and more often wear a smile…
Remembering that this special DASH might only last a little while.So when your eulogy is being read with your life’s actions to rehash…
Would you be proud of the things they say about how you spent your DASH?”
Topics: Uncategorized | 6 Comments »