Month: February 2017

In your efforts to grow your business, be careful not to miss one of the most obvious sources of income: your existing customers. Organic growth is, surprisingly, one the easiest ways to grow your company and increase profits. In this sense, the word “organic” relates more to business growth through existing channels and has less to do with growing crops with cow manure. Unless you are actually an organic farmer, organic business growth is a less smelly, more cost-effective way to grow.

Marketing to existing customers is significantly cheaper than attempting to generate new sales, but that is not to say you should neglect the latter altogether. The point is to put sufficient effort into external growth, but not to neglect the relationship you have with the customers who are already giving you money or those who have given you money in the past. If they have done it once, they are more likely to do it again, right? Here’s how you can push for organic growth in a few simple steps:

• Focus on long-term. Existing, repeat customers are valuable, and they should be made to feel valued and important. By offering discounts, membership benefits and other perks, you can emphasize that your business doesn’t just want customers, you want lifetime customers. While it may be costly in the beginning, a lifetime customer is incredibly profitable in the long term.
• Focus on customer needs. Good customer service goes beyond being nice and helpful. Customer service must also mean meeting customer needs and appealing to each one individually. A one-size-fits-all approach is rarely effective, and if you want lifetime customers, you must target specific needs and wants.
• Focus on customer loyalty. Existing customers are already buying your product, so you don’t need to throw a lot of sales pitches in their faces. Instead, focus on solutions and meeting needs, creating relationships and establishing loyalty. Take care of existing customers, and they will remain loyal to your business and your band.

New customers are great, but make sure you are focusing on all available avenues for growth. By growing organically, you can increase profits and stimulate new growth for a fraction of the cost and time investment.

By Meagan Kerlin for Vertu Marketing LLC

Are successful entrepreneurs born or made? Are the skills you need for success natural gifts, or are they something you can learn over time or in a classroom? While the experts, whoever they may be, are free to debate this issue for ages, you can rest assured that many of the skills needed for success can be cultivated or improved. This alone may not guarantee your business success, but when you improve what you already have, you are more likely to do better, go farther and end up with more.

You may not need every skill in the book for your particular business, but it’s always handy to be well-versed and prepared in a number of areas. Here are a few skills you may need if you are an entrepreneur:

• Communication. Not a talker? This in no way precludes you from being a successful entrepreneur, as long as you are willing to step outside of your comfort zone occasionally. You must be willing to talk to people, answer questions and present your product or service in an effective way. If communication is an area of struggle for you, work on it. Preparation and practice can go a long way toward meaningful communication.
• Planning. Many of the most successful entrepreneurial ventures start with the “snowball effect.” One friend asks for your help, another friend notices, and before long, you realize that your particular talent, product or idea would be a great business. “Fly by the seat of your pants” is not great long-term strategy, and there comes a time when you must develop a plan and take control of the direction of your business.
• Productivity. Time-management is such an important skill, it really should be on this list at least three times. While some people thrive on independence, others need accountability and structure. If you struggle to stay focused and be productive, you must wrangle this issue once and for all, as soon as possible.
• Dealing with setbacks. Failure is unpleasant, but it’s an inevitable part of doing business. Things will not always go your way, but you can choose to learn from these experiences. When things go awry, successful people find a way to put on their grown-up underwear, glean some wisdom from their mistakes and keep moving forward.

Skills are important, but a willingness to learn, improve and seek guidance in these areas is even more so. If you need to improve in any of these areas…well, get to it. The best business people do not hide their weaknesses, but confront them head-on and work on being better, smarter and more versatile.

By Meagan Kerlin for Vertu Marketing LLC

It’s February, and for some of us, 2017 has not been kind. While we are only a little over a month into the new year, it may feel like it’s been 100 months since you excitedly prepared for the fresh start that a new year offers. However, by the time February rolls around, any enthusiasm you had for your 2017 goals and resolutions may be long gone, and you may be left feeling a little stuck in a slump…is this sounding familiar?

Bad news: You’re in a slump.

Good news: You don’t have to stay in said slump.

Look, being an entrepreneur or business owner is hard work, and it is certainly not for the faint of heart. You can go from “THIS IS MY YEAR!” on January 1 to “Eh, maybe 2018 will be better” on February 1 faster than the Atlanta Falcons can give up a 20+ point lead and lose the Super Bowl (too soon?). Not only is this feeling of defeat possible and even likely at some point, it is completely normal. The tricky thing about a slump is that it can feel like a failure when really it’s just a minor setback. It may seem like you’re barely keeping your head above water, but chances are, you can break free of this feeling with just a bit of effort.

Here are some tried-and-true slump busters that may help you defeat the feeling of defeat and resuscitate your motivation:

• Take a break
• Go on vacation
• Get better sleep
• Talk things out with a mentor
• Read
• Stop thinking so much
• Exercise more
• Get outside
• Make a list of things that are going right
• Rework your business plan
• Hire a business mentor

Breaking out of your slump may take longer than one or two strolls through the park, but there is so much benefit in stepping away, clearing your mind and making room in your schedule for things that are not business related. You are the only person who knows what it will take to get out of your slump, but for most people, this frustrating feeling is just a mental block that can eventually be pushed out of the way. Experiment with the above ideas, talk to people who have been where you are and breathe. A slump can’t last forever, but it’s up to YOU how long it will last.

In terms of your digital marketing plan, your list of email subscribers is pure gold. Many entrepreneurs overlook the importance of building this list, but having a growing list of subscribers is a good thing, because it means you will make more money, which is kind of the point, right? No matter how passionate you feel about your craft, products and services, you have to make money to stay afloat, and, believe it or not, your list can play a role in your success.

Social media marketing is critical, but email still has higher conversion rates. This means it does a better job of turning your potential clients into paying customers. It may not be as flashy as a Facebook Live video, but it is personal, effective and allows you to target a very specific audience. It is also important to note that if someone subscribes to your emails or provides you with their email address, it indicates that there is already an interest in your business— and this is good news! Studies indicate that as many as 90 percent of people with an email account check it on a daily basis, which means you have the ability to send purposeful, fresh content to your potential clients on a regular basis.

Facebook, Instagram and other social media platforms frequently used for digital marketing purposes often change their algorithms and rules, but email is constant. It’s not going anywhere and it’s incredibly simple to use. In fact, while social media is a great way to instantly connect with followers, email allows you an opportunity to connect without concerns involving boosting posts or other nuances of social media marketing. Consider the email component of your marketing strategy a long-term investment that will pay off significantly in the future.

Through your website, your blog and social media pages, you can incorporate opt-in forms, allowing followers to subscribe to your email list with just a few clicks. This is fairly simple, and one of the most effective ways to turn website or page visitors into paying customers. Do not overlook the financial potential in your email list, but work to build it and use it as a way to grow your business.

By Meagan Kerlin for Vertu Marketing LLC