What is the purpose of your business? What is the purpose of any business? You might say, “to make money!” Well, you’re not wrong. But how does any business make money, let alone make a profit? This is how: Every business must find, satisfy, and retain customers in a profitable manner!
One of my favorite business bloggers is Seth Godin. Frequently on Saturday’s I like to pick my favorite post from Seths_Blog that week and push it out to my readers with my commentary. One of my favorites that I bookmarked long ago was “Getting Confused About Causation and Correlation.” This has particular interest to me when it comes to small businesses and how they analyze their marketing results effectively. Here’s Seth’s insight:
Have you noticed that in most cities, every time there are lots of umbrellas, it’s raining?
From this analysis, the obvious way to make it rain is to be sure that everyone has an umbrella, preferably a black one, since that seems to be the kind that’s most visible during big storms. Read more…
Over the past couple of months I’ve written a few times about branding. I keep coming back to it because of what I see in myself and in my business community. Branding is central to everything we do! I’ve said it before, but let me say it again:
Your brand is your PROMISE!
Today I want to give you 5 critical things to keep in mind around this subject.
A Super Bowl game can be an awesome experience for someone like me! Not because my team wins but because of the quality of play and the closeness of the matchup. What makes it even better is when we get to see some outstanding commercials!
Super Bowl commercials have become almost as entertaining as the game itself (some might say more so!) Recent years have been some of the best. I found myself going to YouTube and watching the commercials even before game day! Then I was watching them again after the game. Very entertaining!
But why do companies put so much into these commercials and why do they spend so much money on them? Do you think their sales increase after the Super Bowl? Do you think they get a good R.O.I. from them in terms of sales revenue?
I have read some reports in the past about companies getting an uptick in sales after the Super Bowl, but I have a hunch this is not about direct sales R.O.I. at all. It’s purely about branding! And I might add, it’s a powerful medium & concept for that purpose! But what about the small business?
When you meet someone new at a networking or community event, and they ask you what you do, what do you say? Typically I hear “I’m a CPA” or “I’m a financial planner” or “I sell flowers” or “I’m in insurance.” Get the picture? That’s about the most uninviting, non-engaging, boring way for you to position yourself! Isn’t there a better way?
Marketing is essential for your business to grow. Every business owner knows this. Yet marketing is often mysterious, unpredictable, frustrating, and expensive. When I start working with a new client I typically see one of two things: Either they have almost stopped marketing because they are frustrated with it, or they are spending a lot of money but are unsure if it is worth it.
Who are your best customers or clients? Wouldn’t you like to have a whole lot more of them? Think about how much time and energy you lose on customers or clients who are much less desirable. What if you had less of those and more customers like your BEST customers?
As a business coach serving Houston, Sugar Land, and the Katy, TX area, I am always encouraging my clients to know and focus on their target customer.
In the next few posts, I would like to share with you 5 business growth strategies that will guarantee business success. Actually, there are ONLY 5 basic strategies for business growth that we can consider. As you read each strategy be thinking about how you can improve on it within your business!