August 22nd 2008

Online Marketing, Success in Business, Website Strategies part 4

Leadership first, perception second. To try to reverse this sequence is almost impossible.

What if you do everything right? What if you are the first in a new category and subsequently go on to dominate that category domestically? Then you should try to expand the market in the U.S. at the same time that you take your brand to the global market.

Coca-Cola did all of these things. But what’s next? Are there no second acts in branding history? Continue Reading »

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July 18th 2008

Web Designing the Online Customer Data Model

As we look at the different sources of profile data, keep in mind that customer or member profiles are dynamic: they’ll evolve as your relationship with the customer deepens. Your goal is not to collect all of this information at one time. Asking a lot of questions on a first encounter can be very off-putting. Imagine walking into a store and having someone come up to you, introduce herself as an employee, and immediately ask for your phone number and how much money you make. You’d probably react quite negatively and you might even leave. Asking for personal information on your website is no different. Continue Reading »

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June 23rd 2008

Tips for writing a gracious business letter

  • Plan your letter in rough. Note down, in logical sequence, all the points you want to cover.
  • Use the correct name, title and address of the recipient. Check the spelling of names and quote the reference if you are replying to a letter.
  • Write simply, clearly and concisely. Leave no room for any doubt as to what you mean. Give all details. Answer all questions.
  • Divide the letter into paragraphs, each dealing with one point only.
  • Make sure that your tone is appropriate for both the situation and the recipient. Be courteous at all costs. Don’t accuse, nag, talk down, preach or brag.
  • Read your letter aloud to yourself. Does it sound polite? Should you cut, prune or rewrite sections?

Continue Reading »

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June 7th 2008

Legal Requirements: Enterprise Type

You’ll need to decide before opening the business what form your business will take. In the United States there are four approaches available. In other countries it will be necessary to check with local resources to determine the choices offered.

Sole proprietorship. Most very small businesses use this enterprise type. It is the simplest from a tax and legal standpoint. In many cases part-time businesses using the sole proprietor approach will not even segregate their personal financial affairs from their Continue Reading »

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June 2nd 2008

Collection Procedures part 1

I owned and operated a wholesale company with approximately one thousand retailers as my customers. I was completely computerized and sent statements to my customers every month in addition to their invoices.

We offered a 3 percent cash discount for payments received within ten days of invoice date. We charged 1.5 percent per month interest on accounts that were not paid within the standard thirty- day terms. The U.S. economy had enjoyed two very prosperous years. For all of these reasons, the company was collecting its accounts in an average of thirty days.

In addition, we had only needed to write off .5 percent of our total sales because of the bankruptcies or liquidations of our customers. This was excellent, given the number and quality of our customers. Continue Reading »

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May 27th 2008

Advertising Ideas continue…

Types of Media

  1. Direct mail. Direct mail can be very effective, though you’ll be fighting hard for attention in a medium that is saturated with highly sophisticated competition. What follows are some general rules for reaching a list of known customers, whether business to business or consumer:

A. Start with the envelope. Print something intriguing on the outside that will make your target curious about the contents. One mass mailer who sends our company at least two or three mailings per week puts “personal and confidential” on the envelope. It’s amazing, but folks are actually more likely to open that envelope first. Continue Reading »

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May 26th 2008

Trade Shows part 2

To create an image for my wholesale business, we constructed a four-hundred-square-foot bike shop on the floor of the show. It was complete with a brick facade exterior, shingle roof, display windows, and fully outfitted interior.

To draw attention in a show where the booths and product were becoming increasingly high-tech, we went against the trend. We built a four-booth island display to look like a circus. The product was displayed on a carousel. We had clowns handing out balloons with our name and phone number on them. Continue Reading »

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May 7th 2008

Making a Plan: how to construct a simple and workable business plan part 3

The key criteria for building a Brand Identity are: appeal to prospects, relevance, the right personality for the market, user friendliness and the offer of an important benefit that is not currently being made by the competition.

A good brand is easily recognizable and its name must be easy to pronounce. Simplicity is the key to success. Consumers must remember it easily. This is what branding is all about: occupying the number one spot in a consumer’s mind to ensure repeat sales. Another important consideration is whether the brand name can be protected or not. Intellectual property must be registered as soon as possible and must be difficult to copy. Generic names are difficult to register (for example, The Coffee Place is a generic name whereas Joe’s Coffee Place is attached to a name and easier to protect). A good brand name cannot be copied easily (think Compaq, Intel, Coca-Cola and Nike). Continue Reading »

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March 15th 2008

Domain Name Dilemma

The issue of digital trademark and copyright protection has become a hornet’s nest since the commercialization of the World Wide Web. You need to register a domain name if you want to do business on the World Wide Web. Network Solutions, which handles the registration of domain names, has been doling them out on a first-come, first-serve basis, regardless of who owns the trademark. But now that companies are waking up to the commercial potential of the Web, they are screaming foul if the name they want has been taken by someone else, especially if they have a federal trademark protecting the name. Continue Reading »

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March 4th 2008

Get sales leads from product users

All professional sales people keep records of their customers. Details of customers, such as names, addresses, phone numbers and other personal details are stored in a variety of ways, for example, in an indexed notebook, contact register, tickler box or on the home/ office computer. There is a very good reason for keeping this information. Your existing customers are the mainspring in developing your customer base, whether through informal word-of- mouth advertising or through referrals (sometimes known as recommendation business).

Whenever you complete a sale, before the customer leaves the home shop, broach the subject of a referral. Let’s suppose you sell a range of healthcare products including vitamins. If the customer is satisfied with her purchase, why should she not share the good news with friends? So don’t just thank the customer for the order and allow her to leave. If you do, you can’t turn that one sale into two or more. Many sales people say something like this: ‘Ms Prospect, thank you for your order. Much appreciated. There is no doubt that these health products make a difference. Many people don’t realise the benefit of supplementing one’s diet with vitamin pills. Is there anyone you know who could use these products?’ Continue Reading »

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