Do you naturally gravitate towards marketing tactics that involve writing?  If so, take advantage of this core marketing strength in marketing your small business.

When you enjoy doing something and are good at it, then you can do it quicker, easier and with more enjoyment.  Doesn’t that sound great - especially when it comes to marketing?

Below I’ve outlined the most common (and effective) beginner and advanced marketing strategies that you can use if writing is your core marketing strength.

Beginner marketing tactics for writing include:

• write articles and submit to online submission sites
• write articles and post to your website
• have a blog
• write an ezine
• write press releases and news releases
• create autoresponders and email campaigns

Advanced marketing tactics for writing:

• write articles for industry and association publications (print and online)
• write ebooks
• write a book for publication
• write info products
• do guest blog posts
  • I do Resource Nation
• offer articles to strategic alliance partners and affiliates
• write a column for a newspaper or magazine or an online site
• write a newsletter
• write and send out direct marketing pieces

Have I left anything out?  Please let me know (then I can start using it too!).

I define core marketing strength as being tactics that you enjoy doing, are good at and what you naturally gravitate towards.

For example, my core marketing strength is writing.  I love writing, I can do it pretty quickly and easily and I have lots of ideas of things I can write about (around my business services and products).

I enjoy speaking and I’ve done lots of it, but it causes me some angst and it’s not something I absolutely thrive on doing.

Networking (especially in-person) is definitely not something I really like, am comfortable with or really want to do!  I’ll do it, I have done it - especially in my corporate life, but it isn’t something I get hopped up about doing!  I’m much better one-on-one with people.

So guess what?  I’ve built my marketing framework around writing. I chose marketing tactics that involved writing - like submitting articles, having a blog, doing guest blogs, writing ebooks and so on.

Once that got going and was humming along consistently, I started adding some marketing tactics that include networking and speaking.

But the key thing is that I built my marketing framework around something I enjoyed, could do fast and with not tons of effort.  This ensured that I took action with my marketing right away and that I enjoyed it.  We all know that we will do something we enjoy, but procrastinate endlessly if it’s something we feel not that great at, don’t enjoy or it seems too difficult.

Once you figure out what your core marketing strength is, you can build a marketing framework that encompasses 3 or 4 tactics based on your strength.  From there you can add additional strategies from your core area and/or add some from the other two areas.

Marketing can be fun - so help make it enjoyable by choosing marketing tactics that you actually like doing!

I would love to hear what your core marketing strength is and which marketing tactics you’re using based on that strength.

Here’s the last 3 components that you need to ensure that your follow-up marketing strategies are as effective and efficient as possible for you.

Follow up needs to be automated

Try to automate your follow-up marketing as much as you can.  All of us are busy and the more we can systematize our marketing, the easier and quicker we can start reaping the rewards.

Luckily there is an abundance of tools and people you can use to simplify and automate your follow-up activities - from autoresponders to full contact management systems to Virtual Assistants.

An example of automating your follow-up marketing would be a shopping cart program that sends out automatic emails in a series after someone purchases your product, or a company that formats and sends out your ezine, or a VA who produces and sends out electronic greeting and thank you cards for you.

Follow up needs reliable data

To take advantage of many of the ways to follow up with your prospects and clients, you need to have a system in place that captures information about people and keeps track of interactions and communications you have with everyone.

Use software such as Aweber and 1Shopping Cart to gather and store information like client’s birthdays, business anniversary dates, purchasing information, emails that were sent, and so on.

Follow up needs to have varied delivery methods

Keep your follow-up marketing interesting and keep people intrigued by using different methods of delivery.  Incorporate email, telephone, direct mail, audio and so on, to provide variety in how you connect with people and grab their attention.

By varying the way you communicate and follow up with people, you’re showing that you are creative and interested in talking to them in different ways.  It shows commitment on your part and an understanding that freshness and variety is key in making any business relationship strong.

Take a look at how you are implementing your follow-up marketing tactics - are you using all 8 components (as outlined in the last 3 blog postings)?  If not, take some time today to see how you can make your follow-up marketing run as quickly, easily and profitably as possible.

There are 8 components that will help you make the most of your follow-up marketing strategies and ensure they are as effective as possible.  Here are 3 more of the components you need to pay attention to.

Follow up needs to be consistent

Not only does follow up need to be frequent, it needs to be consistent.

As with any marketing strategy you choose to do, if you do not do it on a regular basis and do it haphazardly, then that’s what you’ll get in return - haphazard results.

Remember that marketing (including follow up) is about building a relationship and if people hear from you a couple times and then not for a few months, they’re not going to get a warm, fuzzy feeling about you.  Consistently following up shows people that you value them, are reliable and committed to providing a service to them.

Follow up needs to build momentum

Frequency and consistency with follow-up marketing allows for momentum to occur.  I define momentum in marketing as each strategy and communication builds on each other and are linked together.

For example, you might start your second email by saying, “8 days ago I sent you an email…”   Or after they’ve purchased a product or downloaded an ebook, send them a handful of emails that highlight something specific about the product or in the report that can help them.

Referencing the previous communication links what you’re saying with what you’ve already said, and reminds your prospect that you care enough to continue the conversation.

Follow up needs to be organized

To ensure that your follow-up marketing is consistent, you need to organize it by putting it in your calendar and on your to-do list.

When you carve out time in your daily and weekly schedule for follow-up activities, then you go a long way towards actually doing them!  How many of us get things done that we haven’t made time for?  Not very many of us I’ll bet!

So put a half-hour aside each Friday to write some thank you notes, and schedule an hour each Monday to write your weekly ezine, and an hour every second Wednesday to write a new email message to send to your list.

There are 8 components that will help you make the most of your follow-up marketing strategies and ensure they are as effective as possible. Over the next few blogs I will talk about these components in detail.

Pay attention to these different components because they will help you to systematize your follow-up activities so that you can find the time to do them - quickly and easily.

Follow up needs to be timely

Always follow-up sooner rather than later. For every day you wait, you lessen the impact of the follow-up communication.

For follow-up strategies such as acknowledging referrals, testimonials, new acquaintances, new business and so on, do your best to follow up in one or two days.

Obviously, for follow-up activities that are centered around specific dates (birthdays, end of promotion, workshop sign-up, program enrollment) the follow up needs to occur on the actual day. It doesn’t do much for your credibility to send out Christmas cards in February!

Follow up needs to be frequent

We already talked about people needing to hear your message a certain number of times before they’ll notice or act upon it. That’s why for your follow-up to have any effect, it needs to be frequent.

The frequency and amount of follow-up needed depends on the reason and method for your follow-up. For example, if you are following up regarding an upcoming teleseminar, you may be contacting your list a total of 5 times over the two weeks leading up to and including the date of the teleseminar.

Or if you’re following up after someone has downloaded your free giveaway, you may have 20 follow-up emails in your autoresponder sequence that go out over a six month period to them.

Don’t be afraid of following up too frequently. And remember to always provide a way for them to remove themselves from the conversation (virtual or other) you’ve started with them.

Saying thank you is a key part of your follow-up marketing strategies. Send a hand-written note, a short email or pick up the phone and express your thanks quickly and sincerely.

Everyone loves to be appreciated and it goes a long way in fostering a good relationship. Don’t forget you can always send a small token appreciation as well, such as a magazine, movie tickets, online gift card - use your imagination!

Here are some instances where you could be expressing a heartfelt thank you:

referral

• say thanks to the person who gave you the referral, right after you’ve spoken or met with referred person, even if no business immediately comes out of it. If you do end up getting a new client from the referral, then send another quick note thanking the referring person again.

someone gives you a great piece of information

• always show your appreciation for anything useful (ie. a person’s name, a link, book, article) someone passes along your way - it shows they were thinking of you and a thank you shows them the same consideration

testimonial

• always thank people for taking the time to provide a testimonial - they’re willing to publicly endorse you, so the least you can do is tell them how much you appreciate it

someone compliments you

• if someone gives you a great compliment, acknowledge it and return the gesture to them if you can

when you get a new client

• your hand-written note will make them feel confident about engaging you and assures them they’ve made a smart decision

when a project, program or service ends

• a sincere thank you at the end of your “time” together expresses your appreciation and also increases the chances that they will engage your services again

Start taking advantage of opportunities to say thanks to people you encounter in your business life and you’ll start reaping the monetary and emotional satisfaction that will occur!

Did you know that 80% of all sales happen on or after the 5th contact? Yet most small business owners only do one or two follow-ups with their prospects and clients. That means you are missing out on a lot of business and leaving money on the table.

Although we worry about contacting people too much, studies show that most people need several contacts (that are useful and relevant to them) before they’ll say yes to being your client.

People need to learn to trust and like you before they’ll enter into a relationship with you and that takes consistent connection. Follow up with people to let them know that you are sincere in wanting to form and nurture an ongoing relationship, that you understand their concerns and problems and that you’re in for the “long haul”.

Also, people buy when they are ready, not when you’re ready to make a sale! It’s important to constantly keep in front of people so that when they’re ready to buy you’ll be there. In other words, you have to follow up with them regularly.

People usually need to be exposed to a marketing message several times before making a decision to purchase.

Another reason to stay top of mind in your prospect’s and client’s mind is that they may not be ready to purchase but they may know someone else who is. By staying in front of them with consistent follow up, they’ll have the information, confidence and trust to refer you to their friends, family, associates and others.

Start implementing some follow-up marketing strategies today to make ongoing, consistent contact with prospective and current customers - so that you can stop leaving money on the table!

Here are the 5 most important aspects of the business that investors want to read about in your business plan:

1) That The Company Has Focus

The company has clearly defined its business and can state it in a single strong sentence that says it all. Yes, your plan probably will have a more expansive description in its executive summary but you need to open your plan with that one simple declaration to show the clarity of your vision for the business.

2) That The Market Has Potential

The company has a large existing market for its products and services. If your company does not have significant growth potential then it is probably not going to be of interest to many equity investors. If you are shooting for debt based capital that may not matter most to them (market stability would be though so keep that in mind if your plan is geared towards raising debt based capital); but to an equity investor growth is of paramount importance and the size of the market signifies the opportunity potential.

3) That The Company Has Specific Solutions For Their Market

The company has identified what its customers most need and has created a value proposition for them to make it a simple “buy” decision. If there is nothing unique or distinct about your company’s products/services then you do not have a defensible position in your market. Defensibility of your market position is of key importance to investors and funding sources.

4) That Customer’s Show A Readiness & Willingness To Buy From The Company

In an ideal situation, the company’s customers have a recurring need for their products and/or services, with a reasonable sales-cycle and opportunities for premium up sell of additional products & services.

If you don’t have customers ready and willing to buy now … then that does not bode well for interest from most investors and funding sources. If your market is a long-term development type of proposition then your company will need to prove that it is truly a disruptive business model that will have people flock to it once it is functional. Its not so much “if you build it will they come” but rather “if you build it will they buy?”

5) That The Company’s Main Dynamics Are Strong

What are the main dynamics of a company? Simply put it is two components: a sellable product/service and a management team that can run the business well. Investors and funding sources want to know that the company has created unique solutions superior to their competition. And that the management team consists of smart people able to deliver products/services to their customers, control expenses and make a profit … repeatedly.

* * *

If you create your business plan to address the above; then you are ahead of what most people end up with in their business plan. Weaknesses (dilution) caused by putting too much of the wrong content and not enough of what mattes most, kills interest in a company’s plan. It’s the answers to these 5 important aspects that investors and funding sources find most interesting. How well you answer them will affect the outcome of your search for capital.

In my next post I will get into how to use these 5 as your guide for creating (or revising) your business plan to make it an optimal document that says what it should. Be sure to watch for:

How To Really Get Your Business Plan Read (by investors & funding sources)! Learn how to create the type of business plan that investors and funding sources will enjoy reading and will take action on.

Dennis Lowery
Adducent, Inc.

Over my next posts, I’m going to share with you some important things that I’ve learned over 26 years of business experience from some of the most successful investors, investment and venture capital firms in the world about how they read business plans and what they look for in them.

First some basic advice: With business plans, size does not matter.

Let me say that again.

Size does not matter.

Never lard up a business plan just to make it a hefty read, thinking to “wow” people based on its bulk. That does not impress experienced business people, knowledgeable investors and funding sources.

Experienced and successful business professionals know this and focus their business plan to make it concise and succinct; one that hits all the “hot buttons” but does not say more than it should.

If you use a template to create your business plan, use it as a guide only and modify extensively to give it its own distinct identity. Strip out and replace any “boiler-plate” language that is not necessary and put in only the important things you need to convey (read on to learn what that consists of).

If you hire a business plan writer (who may write well but does not have a great deal of business experience), be sure not to just accept what they give you as being the best for you. Make sure it answers the five most important things (we’re getting to them shortly) that investors and funding sources look for … no more … no less.

What to leave out of your business plan is just as important as what to put in!

• With business plans, telling them you graduated from John Smith high school, love cats and your hobbies are snorkeling and bear wrestling do not matter.
• Telling about your dream to own your own business does not matter.
• Telling them any thing not directly related to the business or your capability to run that business, does not matter – leave it out. Let that simple rule govern what you put into your plan.

You get the idea without me having to add more bullet points (see … less is more!).

What does matter?

I’ll get to that in my next post, because if your business plan does not have what matters most – and you’ve filled it with things that don’t – you have wasted your time and more importantly someone else’s time (and from the all important point of attracting an investor or funding source that is a death blow).

You get one shot at a first impression. Don’t blow it!

Be sure to watch for:

The 5 Most Important Things Your Business Plan Should Contain (that investors want to read about)

Until then best wishes and good fortune to you (and fortune favors the prepared),

Dennis Lowery
Adducent, Inc.

If you are reading this, chances are that you are looking to make a change. Perhaps you are looking for a business to start or perhaps to buy … something to create a better lifestyle, with more opportunity and more money for you.

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For many people it’s the money that drives them. But being passionate about making money can drive you to take on things or get into ventures with only the thought of the money driving your decision.

Is the money important? Absolutely!

Is how you make it important? Yes, if making your life more comfortable is also one of your goals!

This factors in because if you started or bought a business that is capital intensive and/or heavily regulated and competitive you could find out that the business became the worst high-pressure job you ever had.

You do want to choose an industry that is growing but any industry or market that is growing fast is probably also a highly competitive one (and may become increasingly so). Unless you have a lot of money behind you it is better to think tactically than strategically about entering such a market.

The same can be said for starting or buying a business that you are unsuited for.

If you are not a “people” person then you may not want to buy or start a business that calls for you to interact frequently with people. If you are not comfortable in a sales role then do not start or buy a business where your success is tied to your personal sales efforts. One thing to keep in mind here; as a business owner you are always going to have to perform some level of “salesmanship” for your business. So understand this going in so that you are prepared to accept that as part of owning your business.

I tell clients and people that I talk with about starting or buying a business to be methodical in how they approach either one. Don’t jump ship, leave your job and pin all your hopes on something (the business you plan to start or business you buy) trusting that all will be well. Sometimes they aren’t.

I’ve been successful in several businesses (from writing, publishing, manufacturing to business services) but have also had flops. That’s normal experience for someone who’s been an entrepreneur for 26 years. Often you learn more from your failures than you do the successes. Odd but true.

Here’s how to learn from those things that don’t work out and use them to find the right business for you:

1. Take the elements of the things you have tried in the past that you spent time and money in exploring as business opportunities but that did not work out (and do this also for your current job).
2. On a sheet of paper draw a line down the middle of it. On the left at the top of the page write “Bad” and on the right top write “Good”.
3. For each thing you have tried and your job, list out the bad and the good aspects of it; the bad will constitute the determinants of why it did not work out for you or why it did not make you happy or fill you with any passion. The good are the positive elements that helped offset the bad but did not carry enough weight to make it work for you.
4. Once you have done that look at what you’ve written. Take a new sheet of paper and transfer all the good things to that page. This becomes a profile of the things that were positive that you need to look for in a business or opportunity that may present the most attractive and suitable scenario for you.
5. Now with your “Good” profile in front of you, take the market or industry that interests you, think about how you can utilize those good aspects in a business of your own serving that specific market or industry. Make notes about the different businesses that you can start or buy that have those good aspects to them. Those should be your focus.
6. Once you’ve done that calculate what I call your Personal Economic Burden (all your monthly personal expenses that you need to pay to live: mortgage, rent, insurance, food, utilities, car payments, etc.). Total that up and add 20% to it (10% for miscellaneous and at least 10% for savings). Take that total amount multiply by 12 and divide by 365. That is the daily amount your business must generate for you to be “comfortable”. We’ll call that the “Comfort Number”. That’s not making you rich but if you achieve it; it will give you a solid foundation to build on so that you can make even more money.
7. When you have that daily number and with it in mind, review your notes from number 5 above and research to determine if you feel that business can generate what you need to meet your Comfort Number. If so, then that is a business you should focus on starting or in finding to buy.

Take some time to think things through – never jump blindly or go off on a path that you’re not reasonably sure is going to lead you to where you want to go. The above steps will help you.

Good luck and best fortune to you (and fortune favors the prepared)!

Dennis Lowery
Adducent, Inc.