The Baby Boomer Entrepreneur » Ten Ways to Market Your Business For Under $100

Ten Ways to Market Your Business For Under $100 – Part 10 – How Volunteering Can Help Your Business.

Andrea J. Stenberg — Mon, 22 Oct 2007 16:11:45 +0000

Table of contents for 10 Ways to Market Your Business for Under $100

Ten Ways to Market Your Business For Under $100 – Part 4 – Effective Online Networking
Ten Ways to Market Your Business For Under $100 – Part 2 – The Three Foot Rule
Ten Ways to Market Your Business For Under $100 – Part 3 – Networking
Ten Ways To Market Your Business For Under $100 – Part 5 – Gain Trust and Build Long Term Customers With a Newsletter
Ten Ways To Market Your Business For Under $100 – Part 6 – Using A Free Report To Build Trust
Ten Ways to Market Your Business for Under $100 – Part 7 – Can a Blog Help You Build Your Business?
Ten Ways to Market Your Business For Under $100 – Part 8 – Increase Your Profile Through Public Speaking
Ten Ways to Market Your Business For Under $100 – Part 9 – Get the World to Come to You By Sending Press Releases
Ten Ways to Market Your Business For Under $100 – Part 10 – How Volunteering Can Help Your Business.

A great way to grow your business is through volunteering. I can hear you asking, “How is volunteering a marketing activity?” It’s not – entirely. Volunteering is about helping the community, giving something back and feeding your soul.

However, it also gives you a chance to meet new people, people outside your current circle. We all get into a rut, particularly when we’re in business. We don’t have time to socialize and meet new people. We’re so focused on our business that, except for our family, we may only come in contact with clients, colleagues and suppliers.

Volunteering forces you to meet an entirely new group of people. And you are meeting them in a non-threatening way. You’re not trying to sell them something; you’re working together for a common goal. The people you volunteer with have a chance to get to know the real you, before they learn about your business.

As you work together, learning about each other is a natural part of the process. At some point, someone will ask what you do. So tell them. You’re still not selling to them, just answering a question. If this person needs your service, or knows someone who does, they are more likely to consider you because you already have a relationship.

What type of volunteering should you do? If your business provides a service that charities or non-profits need, by all means offer it for free. Accountants often provide a certain amount of pro bono services as part of their professional designation.

However, you don’t need to be providing your professional services for free in order to benefit from volunteering. In fact, it can even be a negative. If you are spending 40 or more hours a week on your business, you may find adding some extra hours doing the same thing as a volunteer too draining.

Instead, try doing something completely different. If you’re a wedding planner, don’t volunteer to organize a charity dinner; try working in the office or helping with publicity. If you’re a bookkeeper, don’t hunker down with the charity’s finances; offer to paint faces at the children’s Christmas party. Doing something completely different gives you a chance to learn new skills and prevents you from burning out.

Where should you volunteer? That’s up to you. The Chamber of Commerce will have a many volunteer opportunities that will introduce you to the business community. Your children’s school may need help in the classroom or with fund raising. Most major diseases have an organization which does fund raising, public awareness campaigns and community support. Pick one that interests you and give them a call. Odds are they will be thrilled to hear from you.

A word of caution: don’t join an organization just for the purpose of increasing sales. If you are working for a cause you don’t believe in, people will sense it. Choose a volunteer activity that has meaning for you. Go in thinking that even if you never get any business from this activity you won’t mind because of the good you are doing in the world.

That’s the end of this 10-part series. Thanks for sticking it out with me. Tomorrow join me for a profile of a successful baby boomer entrepreneur who left a tenured position at a university to start her business. Talk about a leap of faith! After that, watch for my series, “The Biggest Mistakes Businesses Make With Their Websites and How to Avoid Them“.

Andrea J. Stenberg

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Ten Ways to Market Your Business For Under $100 – Part 9 – Get the World to Come to You By Sending Press Releases

Andrea J. Stenberg — Fri, 19 Oct 2007 16:17:29 +0000

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Getting your business mentioned in the media without paying for it is hitting the jackpot. A mention of your business in a news report can attract attention and give you more credibility.

When sending a press release, remember to think like a journalist. They don’t care about promoting your business – they just want a good story. So give them one.

Anniversaries – whether it’s your 1^st, 5^th or 50^th year in business, an anniversary can get you mentioned in the local paper. If you tie your anniversary to an event, like an open house, and invite local celebrities and politicians, you might get even bigger coverage.
Awards. If you receive an award, send a press release. Haven’t received any recognition lately? Honour an employee for customer service, top sales or community involvement.
Major achievements. If you land a new client or form a joint venture with another business, send a release. Not only will you gain attention, your client or partner will be happy to see their name in print too.
Hobbies. If you have the biggest antique toenail clipper collection in Canada, send out a press release. Odds are you can get your business mentioned along with your hobby.
Make it happen. Your business is boring, your customers are boring and so are you? Then shake things up. Create an event. A clothing store could host an Earth Day fashion show of environmentally friendly clothes. An accountant could host a math Olympics. Be creative, have fun and you will get attention.

If you want to learn more about using press releases to market your business sign up for More Effective Marketing and get a free copy of Getting Publicity for Your Business.

Join me next for the final installment – Volunteering Your Way to Success.

Andrea J. Stenberg

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Ten Ways to Market Your Business For Under $100 – Part 8 – Increase Your Profile Through Public Speaking

Andrea J. Stenberg — Wed, 17 Oct 2007 11:29:39 +0000

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It’s a commonly quoted statistic that more people fear public speaking than death. Now, I suspect that if you put a gun to their heads, the majority of these people would find a way to talk. But it proves a point – speaking in public is a scary proposition. However, if you can overcome this phobia, speaking about your business is a very effective promotion tool.

If your product or service is geared towards businesses, service clubs and business associations are always looking for speakers for their meetings. If your customers are consumers, community groups also need speakers. If you can find a group that includes your target market, this is an ideal way to promote yourself to them.

Like e-zines and blogs, your talk cannot be a thinly disguised sales pitch. You must provide useful and interesting information.

Think about a problem your audience has. Talk about the problem and possible solutions. If you have examples and case studies, use them – make sure you get permission before using someone’s name.

It’s okay to talk about how you would solve the problem … just don’t belabor the point. If the audience feels like they’ve been duped into a sales pitch you’ll lose credibility, not gain it.

When speaking to a group, you have two main objectives. First is building credibility and trust. I’ve said it before – people buy from people they know, like and trust. If you give an informative, interesting talk you will achieve this.

Your main goal however, is to collect contact information. Don’t ever give a talk without getting contacts.

How do you do this? Have a draw or offer a free report. The draw could be for a product or service you offer. If you are offering a free report, make sure it is related to your talk. Just make it more in depth.

When you collect business cards for the draw or free report, tell the audience you will add them to your email list. If they don’t want to be on the list, ask them to write “no email” on the back of their card before putting it in the basket. This is a quick and easy way to build your email list, and keep your name in front of your audience.

Make absolutely sure you honour the no-email requests. If you anger a member of this group you will lose credibility with the entire group.

What if you’re not a good speaker?

Like any skill, you need practice to get better. A great way to gain experience is with Toastmasters. This international organization has helped thousands of people become better speakers by offering a friendly and supportive environment for people to practice speaking. And remember, you don’t have to start as the keynote speaker at an international conference. Starting small at a local networking group gets you name out there.

Try teaching

There is no better way to establish yourself as an expert than to teach. If you are teaching a course, you must be an expert. Regardless of your background or business, you can probably find a place to teach.

Check out your local community college. They are often looking for instructors – and not just for credit courses. Colleges and school boards often offer evening adult education courses for everything from belly dancing to home decorating to computers for beginners.

Check out the course calendars and approach the school about teaching. If they don’t offer a course you can teach, propose one. You’ll get free publicity when they promote the course. An added benefit – you’ll get paid.

Next I’ll talk about getting free publicity by using press releases.

Andrea J. Stenberg

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Ten Ways to Market Your Business for Under $100 – Part 7 – Can a Blog Help You Build Your Business?

Andrea J. Stenberg — Fri, 12 Oct 2007 18:39:35 +0000

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Blogs are everywhere; you can find millions on the web – from a teen’s online diary, to women chronicling struggles with infertility, to computer geeks talking about the latest techno toy.

But can a blog be used as a marketing tool? Until recently I was unconvinced. I saw blogs as a self-publishing medium for kids or as a marketing tool for the tech market. I didn’t see how they could help a business, particularly my business.

Then a couple of things caught my eye. First, I came across Yaro Starak’s Blog Profit’s Blueprint. In this free report, Yaro – a blogger from Australia – talks about how to make money from a blog. In fact, Yaro recently announced that he made over $10,000 in one month – directly from his blog! That sure made me sit up and take notice.

Around the same time, Robert Middleton announced a teleclass on blogging – The Secrets of Attracting More Business Through Blogging. Robert is a well-respected marketing expert and I’ve purchased other products from him in the past. I was curious and purchased the teleclass.

I spent a week listening (and re-listening) to The Secrets of Attracting More Business Through Blogging recording and reading Blog Profits Blueprint. And I was blown away! They convinced me I was missing out on a very powerful marketing tool.

What makes a blog so powerful?

First, it goes back to the rule of seven. If your blog provides great content that your readers find useful, they’ll keep coming back. The more they read, the more they will get to know, like and trust you. By the time they become a regular reader of your blog, you have become a trusted advisor, almost a friend.

Not only that, blogs allow readers to comment on what you write. This makes blogs more of a conversation than a one-way marketing channel. An exciting post may attract many comments; even begin a conversation between readers. Your blog becomes a community, not just an online brochure – as many websites are.

These comments from other readers also help build trust. When a new reader shows up to your blog these comments become a form of social proof. It lets new readers know that other people are regular visitors to your site and like what you have to say. It encourages them to stay and read what you’ve written.

Blogs also give you an advantage with search engine ranking. Blogs can be updated easily and regularly and search engines give high marks to sites that frequently have new content.

Now, your regular website can also be updated regularly – daily even. However, for many people changing the content on their website is difficult. If you need to call your tech guy each time you want to add something to your website it costs you time and money. Most blogs however, can be set up so you can make new posts by email. Write a new post, email it to the blog and voila! There’s your new post. No need for any outside help.

As you can see, I’ve jumped into the blogging pool with both feet. If you’re thinking about trying it yourself, what’s your next step? I highly recommend Yaro Starak’s Blog Profit’s Blueprint. First, it’s free so you’re only out the time it takes to read it. Second, at 55 pages, it is very comprehensive. If you’re thinking about adding a blog to your marketing mix, I guarantee what Yaro has to say will intrigue you.

Next, consider Robert Middleton’s teleclass The Secrets of Attracting More Business Through Blogging. It’s only $29 and is very informative. It focuses on how a blog can be a powerful way to attract customers to your business.

Andrea J. Stenberg

Tomorrow I’ll be giving you another way to build trust and attract new clients – through public speaking.

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Ten Ways To Market Your Business For Under $100 – Part 6 – Using A Free Report To Build Trust

Andrea J. Stenberg — Thu, 11 Oct 2007 11:21:11 +0000

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Remember “the rule of seven” from Part 5? It says a prospect needs to see your marketing message seven times before becoming a customer. What it’s really saying is you need to build trust before you can make the sales pitch.

A great way to build trust is by offering a free report or white paper. Also called a guide or e-book, this free report should tell readers how to solve a problem they are having.

The report needn’t be long – 5 to 7 pages works fine. If you can say it in two pages, even better. They key is to provide useful information that helps the reader. The purpose of the free report – from your point of view – is to prove to your prospects that you are knowledgeable, trustworthy and are worth their hard-earned dollars.

Start with a problem your clients have – that you can solve – and make it as real and ugly as possible. This is not the time to be abstract. Make the reader feel the pain of the problem. Get detailed. Think worst case scenario. Scare the pants off the reader.

For example, if you sell systems for backing up computers, show the cost of not backing up. Tell the story of a small company that failed to back-up their system before disaster struck. Describe their panic when they realized all their accounting records for the year were gone. Talk about the overtime they put in recreating their records. List the fines they paid for being late with their taxes. Make it ugly!

Once the reader is convinced that the problem is real, and not taking action will be painful and costly, give the solution. Don’t just jump in with a sales pitch for your company. Outline a variety of solutions, along with their benefits and drawbacks. Make the final solution the one that you offer.

Now’s the time to make your pitch – why your product or service will best solve their problem. Keep it simple. You’ve spent two or more pages building trust. Don’t blow it by giving the hard sell. If you’ve written the report properly the reader will easily be convinced that your solution is the best. There’s no need to hit them over the head.

What is the key to using free reports as a marketing tool? Collecting contact information. Never – ever – give out your free report without collecting contact information. It can be an e-mail address, a mailing address, a phone number – preferably all three.

A simple way to do this is from your website. Offer the free report as a bonus when they sign-up for your e-zine. This way, not only do they get your report, but they’ve given you permission to keep in touch.

You can also send the report by mail, follow up with a sales letter and then a phone call. The key is to use the free report as a stepping stone for creating an ongoing conversation with your prospect.

Tomorrow I’ll talk about how a blog can help you market your business.

Andrea J. Stenberg

Want to create a free report for your business but aren’t sure where to begin? I can help.

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Ten Ways To Market Your Business For Under $100 – Part 5 – Gain Trust and Build Long Term Customers With a Newsletter

Andrea J. Stenberg — Tue, 09 Oct 2007 21:48:41 +0000

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One of the best ways to promote your business, build long-term customers – as well as keep your existing ones – is by producing a top-quality newsletter.

Why do you need a newsletter? Because of the “Rule of Seven.” This marketing adage states that on average, a prospect needs to see or hear your marketing message seven times before they take action.

The exact number may vary – depending on your industry – but the basic truth remains the same: it is unlikely a prospect will become a customer the first time they hear your name.

Why? The prospect may not need your service right now, they may not be sure of what you or your company does, or they may be worried about the price.

But the most likely reason is they are unsure of you. They are asking: are you reliable, knowledgeable, trustworthy? Does your product or service perform as advertised?

So how do you reach your prospects seven times and prove yourself without wasting your time and money or becoming annoying? By sending a newsletter. A regular newsletter that is heavy on helpful content and light on sales messages will grab your prospects’ interest and allow them time to get to know you.

Newsletters that offer the latest information in your field or tips that help the reader increase your credibility. If the information provided is useful, the reader will spend more time reading your newsletter than they would a brochure or sales letter. The reader may begin looking forward to your newsletter.

At this point you are no longer an anonymous firm selling your product or service – you are a familiar name who has provided useful information for free. They know you, like your newsletter and hopefully have come to trust you. An added bonus: according the Chicago’s Sales and Marketing Executive Report most newsletters are passed on to an average of three more readers.

Now it doesn’t take a math whiz to see that producing a newsletter will quickly bring your costs over $100. Even if you design and print the newsletter yourself, the cost of postage will get you. However, there is a way around this – send it by e-mail.

Online newsletters – called e-zines – are an inexpensive and effective way to spread the word about your business. You can collect email addresses yourself but for as little as $8 per month you can sign up for services that automate the entire process. They’ll give you a sign-up button for collecting email addresses from your website, maintain your list and send the e-zine.

These services offer templates that allow you to create attractive and professional e-mails with colour, graphics and photographs, even if you are something less than a computer whizz. And since these services allow your readers to automatically unsubscribe, you don’t have to worry about accidentally running afoul of Spam laws.

They key to a successful e-zine is to include well written content your audience finds useful. Don’t make the mistake of using your e-zine as one big sales pitch. If your readers don’t find value in what you send them, they’ll delete it unread – or worse, unsubscribe.

What should you include? Tips, information and news that will help your readers solve their biggest problems. If you are a handyman, seasonal home maintenance tips are a natural. A coach can include guidelines for getting organized. An accountant can write about ways to improve on the shoebox method of sorting receipts.

Now I know some of you are asking, “Why on earth would I tell my prospects how to do things I want them to pay me to do?” Because you are building trust. By giving your readers useful information you are proving you are knowledgeable - an expert even – and that you are here to help.

True, a small number of readers may take your content and do it themselves. But the majority won’t. They don’t have the time, ability or desire to do it themselves. And when the time comes to get it done, who will they call? A stranger from the yellow pages or you, the trusted advisor whose interesting e-zine they’ve been reading?

Tomorrow I’ll tell you how to increase your credibility even more – plus attract free publicity – by providing a free report or white paper.

Andrea J. Stenberg

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Ten Ways to Market Your Business For Under $100 – Part 4 – Effective Online Networking

Andrea J. Stenberg — Mon, 08 Oct 2007 20:25:58 +0000

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Unlike younger generations, Baby Boomers clearly remember rotary phones, our first calculator (remember how big it was) and a time when computers were science fiction. Our first computer couldn’t do more than simple word processing and even simpler games. It probably was a Commadore 64 or a TRS-80.

If you weren’t born with a cell phone in one hand and an iPod in the other, learning to use online networking techniques can seem daunting. But it doesn’t have to be.

Like networking in real life, networking online is about building relationships. It just allows your network to include people in other cities, time zones and even continents.

The least technical option is to join an online forum that includes your target market. An online forum is a discussion group that may be on a website or may involve emails being sent to subscribers. You may remember a time when they were called bulletin boards. Today, they’re all on the Web. Do a search on Google for relevant groups or check out Yahoo Groups. Your industry association may have a forum.

Once you’ve found a forum that looks promising, become active with this group. Be knowledgeable and helpful, without looking for obvious gain. Whenever you see a discussion where you can add thoughtful insight, do so. If someone asks a question, answer it. Be consistent. It is much better to be very active on one or two sites than to sporadically post to many sites. You want to become visible – be known as an expert.

A forum is not the place for the hard sell. Never, ever, go in cold and post a sales letter or offer to the discussion group. This is the fastest way to get you hated, or even kicked out.

Instead, include a signature in your posts with a brief description of your business and your contact information. As you become known in the group, people will begin to think of you when they need your service. This is not a strategy for quick cash, but it will help you build long-term relationships which will lead to long-term customers.

Another way to network online is through “social media” websites. These websites provide members ways to interact and connect.

A very popular site – particularly in Canada – is Facebook. This free site allows you to create a home page with as much – or as little – personal information as you like. You can post photos, videos and links. The main feature is that you can connect to “friends”. Once you have become a Facebook friend with someone they can view your profile, all your friends, and they receive updates whenever you make changes to your page.

Facebook tends to be populated by young adults, but I’ve used it to reconnect with old friends and former classmates. Facebook is primarily a “social” site – a way to keep in touch with friends and family. It can also be a real time sucker, so beware.

However, there are some marketing opportunities for the right type of business. I know a wedding photographer who created a site for her company and posted a variety of photos. She invited all her clients to become Facebook friends of her site. Suddenly, all her clients’ friends could view her site as well. She has received a number of clients who discovered her work this way.

A more promising site for professionals is LinkedIn. The main purpose of the site is to allow registered users to maintain a list of contact details of people they know and trust in business. You create a professional profile – no photos here. Then you invite colleagues to link to you – they don’t have to be a member to receive an invitation. You can also ask for recommendations from people who have worked with you.

Once someone links to you, they are part of your network (a “Connection”). You can now view people in their network (their Connections) and they can see you. LinkedIn discourages you from approaching people you don’t actually know. If there is someone in a connection’s network you wish to meet, you can request an introduction.

LinkedIn can be used to find jobs, people and business opportunities. Employers can list jobs and search for potential candidates. Job seekers can review the profile of hiring managers and discover which of their existing contacts can introduce them.

LinkedIn is particularly good for information technology professionals and others in tech savvy fields.

This post barely scratches the surface of online marketing. If you want to learn more, a Google search of “social media marketing” will yield dozens of pages, including links to full day and multi-day seminars on the subject.

If this is all new to you, I suggest you search for one or two forums related to your industry and start there. If you want to experiment with social media sites, pick one and use your spare time to play around for a while. Don’t devote a lot of time to social media sites until you understand the culture of the site – don’t be a spammer – , have a feel for who populates the site and whether they are a good target market for you.

Tomorrow I’ll continue with on-line marketing by discussing how to effectively use an online newsletter – e-zine – as a marketing tool.

Andrea J. Stenberg

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Ten Ways to Market Your Business For Under $100 – Part 3 – Networking

Andrea J. Stenberg — Mon, 08 Oct 2007 15:04:24 +0000

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Yesterday I wrote about using the Three Foot Rule and Elevator Speech. Today I’ll be talking about taking the elevator speech out for a spin at a networking meeting.

Networking is a way of marketing your business through social networks – groups of like-minded business people, or people in the same industry.

Formal networking meetings abound. The Chamber of Commerce, Board of Trade or industry associations all hold regular networking meetings. Now some groups such as BNI will definitely put you over the $100 limit. However, most groups will let you attend a few meetings as a guest. This lets you see if the group is a fit before you invest in a membership.

The goal of successful networking is to get to know the other members – and have them get to know you – well enough that they feel confident in sending referrals your way AND you feel confident in sending referrals back.

How do you do this?

Take your time and talk to a small number of people at each event rather than trying to win the award for most business cards collected. Better yet, plan to meet one-on-one on another day. This will give you both a chance to really get to know each other and your businesses.
Be genuinely interested in the people you meet. Ask questions about their business – open ended questions. A great question is, “Who is your ideal customer and how will I know if someone fits the bill?”
But don’t just ask the question and forget it. Write it down on the back of their card and keep your eyes open for that ideal client. When you spot one, pass along the referral.
Make sure you can answer the question about your ideal client yourself. If you aren’t sure who you are targeting, how can others confidently send you a referral?
Go in with a goal of helping others by giving referrals, making introductions and passing along information. If you’re not getting results from your networking, ask yourself how many others you’ve helped in the group.
While it is helpful to make some personal connections while networking, don’t make the mistake of thinking this is a social event. The ultimate goal is to build your business – keep this goal in mind and act accordingly.
Be a regular. Networking is a long term strategy. The more you are present, the better known you’ll become
Sit with someone new. The goal is to meet new people so don’t fall into a habit of talking with the same people each meeting.

Score! What to do when you get the referral

When you get a referral, act quickly. Ideally you should follow up within 24 hours. If someone goes to the trouble of making a referral, show enough respect to act promptly.

If you wait, the referral may have gone elsewhere. And worse, the person making the referral may feel this wasn’t important to you and be less inclined to refer you in the future.

Once you’ve followed up, let the referring person know the result. A brief phone call, an email or better yet, a thank you card will make all the difference. It lets this person know you value their efforts on your behalf. And makes them more likely to refer you in the future.

Finally, if you do get business as a result of a referral – do your best work. It’s not just your reputation on the line. The referring party’s reputation is also at stake. If they get raves about your work, everybody wins.

And ultimately, that’s the true goal of networking.

Join me tomorrow where I’ll discuss on-line networking and how it can help you build your business.

Andrea J. Stenberg

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Ten Ways to Market Your Business For Under $100 – Part 2 – The Three Foot Rule

Andrea J. Stenberg — Sun, 07 Oct 2007 19:52:16 +0000

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The three foot rule is simple. You tell everyone who gets within three feet of you about your business, products or services. This doesn’t just apply to networking meetings and business functions. Try it at the gym, in line at the grocery store, picking up your kids from swimming lessons.

Why? Because when you’re out in the world, you never know when the person next to you may need your exact product or service right now.

You don’t need to be pushy or obnoxious. And don’t give a laundry list of your services. Just pick one small part of your business and work it into the conversation.

For example, when the clerk at the grocery check out asks how you’re doing, reply, “Great! I just helped a business client through a tax audit. Not only did they come through with flying colours, they’re getting back more money than expected.” Or, “I’m so excited. We just got in a new widget at our store. Not only does it slice and dice, but it makes coffee too. Our customers love it!”

Like with business cards, odds are the majority of people will smile politely and forget about you as soon as you leave. But it only takes one person to say, “Hey, I know someone who’s looking for that service. How can they get in touch with you?”

And best of all, using the three foot rule is free. So what have you got to lose?

Making the Most of the Elevator Speech

Closely related to the Three Foot Rule is the Elevator Speech. The purpose of the Elevator speech is to tell someone about your business in the time you might travel in an elevator together. Most people save the Elevator speech for formal networking events. However, you can use it any time someone asks what you do.

The problem with most elevator speeches is the speaker focuses on themselves – giving a laundry list of their products, services and processes. If you’ve just met, the person you’re talking to doesn’t care about what you do. You need to find a way to pique their interest by focusing on their needs and problems.

The best way to do this is to start your elevator speech with who your target market is and finish with what problem your target market has that you solve.

An accountant might say, “I work with rapidly expanding Information Technology firms that are paying too much in taxes.” This way the listener knows right off the bat if they, or someone they know, has a need for your services.

The elevator speech is not intended to be the definitive description of your business. After all, it is rare that after you deliver an elevator speech someone says, “Hey, that’s just what I need. Here’s a cheque.” The goal of the elevator speech should always be to start a conversation. That’s all. You’re not going to close the deal yet.

Let me say it again: the purpose of the elevator speech is to start a conversation. All you are trying to do is pique the listener’s interest and hopefully get them to ask a question. By asking a question, they are giving you permission to give more information.

So, how do you know if you have the right elevator speech? By testing. You won’t know for sure until you test it out. Over the next two weeks, commit to trying you new elevator speech on 50 people. If you’re getting glazed eyes, you need to rework it. If you are getting questions, you’re on the right track.

Get started on your elevator speech today. And come back tomorrow when I’ll talk about taking your business cards and elevator speech out for a spin at a networking event.

Andrea J. Stenberg

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Ten Ways to Market Your Business For Under $100 – Part 1

Andrea J. Stenberg — Sat, 06 Oct 2007 21:03:36 +0000

Marketing is a numbers game. No matter how closely you target your ideal client, a large number of the people you hit with your marketing won’t buy right now. They don’t need your service or just don’t want it from you.

It’s nothing personal – just a fact of life when you’re in business. To build a thriving business, you need to work the numbers – aim for enough “no’s” and the yeses will take care of themselves.

W Whether you are an established entrepreneur or are just starting out, you can effectively market your business without breaking the bank. In fact, whether your marketing budget is $100 or $100,000, these low-cost marketing strategies need to be part of your overall marketing plan.

P Part I - The Lowly Business Card

The first thing everyone does when starting a business is get business cards. They print 500 or 1000, put a handful in their briefcase and the rest sit in the office gathering dust.

Business cards do you no good sitting in the box they came in! They’re cheap – don’t hoard them. Get rid of them as fast possible. Put them in your wallet, your purse, your gym bag, the glove compartment of your car. Don’t leave home without them.

Everyone you meet – exchange business cards. At a meeting, waiting for an elevator, in the grocery store. Don’t just force them on people willy nilly. But any time there’s an opportunity to tell someone what you do, pass along a business card as well.

And don’t just wait for in-person meetings. When you mail a letter, stick in a business card. Sending a thank you note? Include a card. Sending an invoice? You got it – send a business card.

Now what happens to these business cards you hand out? Usually one of two things: If the receiver is a pack rat, it will get tossed in a pile somewhere in their office, “just in case”. For neater types, business cards get tossed into the garbage at the earliest convenience.

Why give out business cards if they are doomed to oblivion? It comes down to return on investment. What if just one person out of 1000 keeps your card, calls you up and becomes a customer? How much is that worth to you – over the next year, over a lifetime?

Look at it this way; if your average customer spends $1,000 in a year and stays a customer for three years, the lifetime value of a customer is $3,000. That’s not a bad return on a $100 investment. And odds are, you will get more than one new customer out of a thousand business cards.

But that’s not the only reason to hand out business cards. When you give out a business card, you get one back in return. With one little exchange you have your prospect’s phone number, email, and address. Don’t make the mistake of throwing it out or turning it into a dust magnet on your desk. Use this information - wisely.

When you meet someone new jot notes on the back of their business card – important details about this person and your conversation. Don’t forget the date and place you met.

As soon as possible, send this person a brief note or email. “It was nice meeting you the other day.” Then comment about something you discussed. Or even better, send some useful information. If they mentioned a hobby, an article or website link about that hobby would be appropriate. Try news about their industry. It doesn’t really matter exactly what you send. The goal is to remind them who you are and to make a connection – a personal connection.

Whatever you do, don’t send your brochure – unless they asked for it. The purpose at this stage is to start the relationship. Remember, people prefer to do business with people they know, like and trust. You just met – you’re practically strangers.

There’s a saying: “They don’t care how much you know until they know how much you care.” By following up a meeting with a note and some useful information you are showing that you care – you’re not just in it for the sale. You are trying to make a real connection.

And don’t worry. When the time is right, you will have the opportunity to talk about your business. And when you do, you won’t be making a sales pitch to a suspicious stranger – you’ll be talking to a friend.

Come back tomorrow for Part 2 of Ten Ways to Market Your Business For Under $100 when I’ll introduce you to the Three Foot Rule. I’ll also talk about putting together an elevator speech, which is really a more formal way to implement the Three Foot Rule.

Andrea J. Stenberg