The main advantages of mobile marketing over existing forms of marketing strategies is its inherent capability to have extensive reach but at the same time, are more affordable.

If you get down to the basics of what drives business, it is simply these two equations, namely, the number of leads generated as well as lead-to-sale conversion efficiency. When you use traditional forms of marketing tactics to generate leads, the cost effectiveness is low. However, with mobile marketing, you will not have much less problems turning over high lead-to-sale conversion as well as the generation of leads.

The Conventional Marketing Approach

Take for instance you spend $10,000 on a booth for 10 days at the centre of a shopping mall to launch your new product and run an introductory product redemption promotion. You tap on the traffic from the mall but note that about 40 percent are repeat traffic of mall staff, hence hurting your potential to generate your target number of leads. Would this be the best use of your financial and manpower resources to introduce your new product which is carried across all major supermarkets within the vicinity? This is also not a good strategy for lead-to-sale conversion either.

The Mobile Marketing Approach

Or would you rather run a mobile marketing campaign with text marketing messages to potential customers for a free redemption of your new product at any supermarkets by simply producing that text message to the cashiers? And did I mention that you probably spend less than a third that budget of your shopping mall launch project?

To top this off, you would probably be able to tap on the mobile marketing companies which provide a wide reach of market segments which you could drill down to target very specific target audiences. This capability will enable you to market to the most suitable potential buyers. This approach would not only generate for you your desired number of leads but also a much higher lead-to-sale conversion.

Instead of running unprofitable conventional promotions wasting both financial and manpower resources, using mobile marketing is seems a more viable and successful alternative. It is capable of helping you reduce business and marketing costs as well as enhancing efficiency.

The ability of mobile marketing to enable two way or multi-way communication enhances your brand building strategies, interactivity and also helps you elevate your customer service to a different level.

There are indeed more ways than these for mobile marketing to build your brand, your products, and your business. Its potential is limited by only your innovation and creativity. Its boundaries stretch beyond conventional marketing, and mobile marketing is indeed a multi-purpose tool surpassing most traditional marketing approaches in profit maximization.

The Power of Word of Mouth – Testimonials

No matter how great your products are, It is what your customers have to say about them that either make or break your success story. Getting existing customers who are satisfied and happy with your products to say it out loud, expound the benefits and personally endorse your products is the best testimonials you could ever get.

Check out their permission to publish their testimonials for marketing and advertising purposes. Do not underestimate the positive impact that customer testimonials have on helping you build credibility and trust. This approach can be used as an effective branding strategy if you work that into your marketing campaigns properly.

Critical Pricing Perceptions – Affordability

Yes it is all about the perception. Reality does not change but many buyers simply perceive affordability to be more palatable when you breakdown your pricing into “12 monthly instalments” instead of a hefty 550 dollar one time payment. Or the “less than 2 dollar a day and you can own this comfy couch Right Now” pitch never seem to lose its magic.

Perception of affordability also includes rounding down of the dollar, such as $19.90 or $19.70 rather than $20. This pricing tactic gives the perception that the item is less expensive.

Captivating Headlines and Taglines For Slogans

Use attention grabbing headlines to catch potential customers’ attention. Invoke their curiosity, and generate extensive eyeballing. Profound headline and taglines are capable of conveying intense and deep messages to potential buyers. This is Adverstisements 101 for you.

What Is In An Irresistible Compelling Offer?

Provide an offer which, in the perception of your potential buyers, too good to give up. Pricing is only a small part of the equation, package your offer such that the real value of sum of its parts is greater that the whole, and a lot greater at that too. Gifts and bonus products, free travel size packages that come with the purchase, or accumulation of points for attractive redemption that one must have.

“Offer Expiring in two days”, “80% discount of products will end tomorrow” are some of the motivation tactics used by retailers to push for more sales. Run campaigns which cost you little but enhance the bottom line.

Expound On Your Benefits Not Features

Many marketers tend to sell the features rather than the benefits of their products and hence achieve mediocre results. A feature of a portable food warmer is “keeps your food warm” while a benefit is “enables you freedom to bring your toddler out and feed him wherever you may be”.

Note that your potential customers buy from you because they want to enjoy the benefits of your product. They can easily read the features on the labels. Most products have an emotional tag which drives buyers. Use NLP’s “feel” perception to build on the benefits, add on the emotive aspects to your sales pitch.

For more information on this series, check out part 1 at New Business Startups – Timeless Small Business Marketing Strategies That Always Work.

Check out Small Business Marketing Strategies if you are planning on new business startups.

A little strategizing with your business planning could actually help you manage the new business startups. The key reason that I stress new business startups is such that you could start everything new and afresh but if you already have an existing business up, you could make the necessary adjustments to grow it effectively. Here are some of the key timeless small business marketing strategies that never fail to work.

What Is Your Key USP? – Unique Selling Proposition, That Is…

Brand your product into that perception niche that you wish to dominate you’re your authentic Unique Selling Proposition. Stand out from the mundane, shine bright with your USP, make and fulfil your promise to customers. If your USP is 1 hour delivery time within a 40 mile radius, then you should honour that promise, else your reputation will go down the drain. If your promise is to ensure that children who attend your tutoring classes will achieve at least one “A” grade for one subject within three months, you jolly well make sure that the children achieve what you promise the parents.

Customer Retention vs Customer Acquisition – Which Should You Choose?

Which is a cheaper option, customer retention or customer acquisition? The answer is obvious of course, it is Customer retention. Did you know that it costs about six times more to attract a new customer as it would to keep and milk an existing one? And research has shown that the success probability of selling to a new customer is 1 out of 16 as compared to that of 2.2 when selling to existing customers.

Yes, you would have to spend 6 times more money for new customer acquisition, money which could literally be spent on growing and building your existing customer base as well as forging more lucrative joint ventures with complimentary business partnerships. Of course with new business startups, you will surely need to spend on customer acquisition strategies in order to grow your customer list. The key to customer retention is relationship building with them to establish trust and credibility.

Cross-selling and Up-selling – How and When Should You Do It?

Cross selling and Upselling have become very successful as small business marketing strategies these days. Of course for new business startups you will need to spend time growing your customer lists, build bonding rapport with them before you start to sell to them. Indeed, it might be easier to cross sell to existing clientele in this environment of economic downturn as existing customers are already familiar with you and more trust has been built.

That said however, you should be very sure that you are not overtly pushy with your upsells as upsells mean selling more expensive items to your list. You need to know your clientele profiles sufficiently well in order to achieve your selling objectives, yet keep them loyal at the same time. From a needs perspective, customers must have a compelling need or want for your product to buy it. And your task is to invoke that desire to possess the product by expounding on the USP which meets their needs.

Stay tuned for part 2 of this series of New Business Startups – Timeless Small Business Marketing Strategies That Always Work. Yes, starting your own small business may not be as difficult as you are led to believe.

Check out Small Business Marketing Strategies for more information here.

By maximizing your depreciation expenses and expenditure on equipment, office supplies, and amortization of the office building, you can increase the business expenses incurred and offset from the total revenues you have generated over the year. In addition, you can also buy the supplies or assets in advance for a quarter and use the tax deductions allowed within the year.

Pay your bills when they come due before the end of the year. Clearing your office utility bills, cell services, rental expenses, insurance premiums, and other overheads related to your business can be included for accounting and are applicable tax waivers.

Like your insurance premiums, you can start a retirement plan. When you make payments before the end of the year, you will then reduce your income for that current year and therefore, proportionate the tax expense due to this item. However, there are certain ranges and limits that you should be aware of, so seek the advice of both your accountants and IRS tax attorneys. Better still have your IRS tax attorneys draft out the plan in specifics.

As for licensing fees, businesses taxes, and annual memberships to businesses related organizations, they are deductible from your taxable income thereby reducing the amount of taxable income you eventually end up with.

One key component which small business owners tend to neglect is to deduct interest paid on borrowings for running the business and related fees. Also remember that the insurance premiums paid to insure your business premise, machinery, equipment etc are eligible for tax deductions.

You should also check whether you have deducted management and administration expenses as well as money spent on maintenance and repairs of equipment.

If you pay memberships to a good number of business related organisations, give the list to your accountants as some can render you eligible for tax deductions too.

Accrual accounting systems have become a popular accounting approach to manage your revenue and expenses. Check out with your accountant whether you should use a cash or accrual accounting system. The choice could greatly impact your bottom line depending on the suitability of your business nature.

When setting up your small business plans, you definitely need the advice of both the right IRS tax attorneys as well as competent accountants, both parties of which should know your business functions well enough to advise you with the right strategies.

Check out part 1 of this series of Small Business Tax Help – The Right Business Planning, Right Tax Resolution, Right IRS Tax Attorneys and Right Accountants or find more information at Business Plans and Small Business Marketing Strategies.

As a business owner you must understand clearly about accounting systems and tax planning. Planning together with your accountant to maintain or reduce business expenditures, filing receipts, making more “tax saving” investments can all impact on your business bottom line.

And the right IRS tax lawyers should not simply hide behind a long string of credentials or impressive slogan on the name cards. He or she should have a deep understanding of how you do business, how your business functions and of course at the same time, know his or her work well.

Hence, he or she obviously should not be someone that you pick out of a phonebook as you will be placing great trust in their capabilities, credibility and integrity to help you get the most out of your small business tax help. After all, you are entrusting your life, property, business, future and most importantly, your entire family’s happiness in his or her hands.

When Do You Know That You Have Found The Right IRS Tax Lawyer, Right Accountant And Used The Right Business Strategies?

You will know that you have found the right IRS tax lawyer to help advise you with your filing and overall business planning, used the right business strategies that your accountant recommended. Check out the following tips which they might have already advised you on.

In US, some states enable you to reduce your tax liability by employing family members in your business. Getting all your children and spouse on the payroll will greatly reduce your tax bracket for the higher tax rates to the lower ones.

Outsourcing and using independent contractors instead of full time employees also helps to save on payroll taxes. Or course you need to make sure that you are eligible under the IRS criteria.

Near yearend, by deferring income to January instead of December, you are also able defer your taxable income one full year later. Your accountant should be able to advise you on the feasibility, impact on your P&L statements and whether it is advisable.

If you do contribute heavily to charitable organisations, take note that your donations are tax deductible and you should take advantage to make donations at year end in November or December rather than January so that you can claim your tax deductions in the current year.

If you do a lot of business travelling outside of the country, you should also include your business travels in the current accounting year so that you can claim on your tax deductibles.

Stay tuned for part 2 of this series Small Business Tax Help – The Right Business Planning, Right Tax Resolution, Right IRS Tax Attorneys and Right Accountants.

Check out categories on Business Plans, Marketing Plans as well as Small Business Marketing Strategies for more information.

Amidst the rush to plan your strategies and budget constraints, take a step back, a deep breathe and relax. Here are some tips to help you reduce the season’s budgeting and planning stress to a maximum.

Put On Your Strategic Hat

It is time to think strategy and from an overall broad business perspective rather than a tactical point of view. With a clear mind and well thought out business strategy, you can then begin to make more rational and critical decisions. Consider what drives your business cumulatively, and the management constrains which include financial and manpower resources. Use a funnel strategy whenever you strategise and plan.

It is important that you have a good start at the inception. You and your team should set aside an hour or two alternate days of the work week to brains storm on small business marketing ideas. The alternate days are to ensure that you and the team have enough time to think about the ideas in depth, and also have a breather in between days. An hour or two per session is deemed a right amount of time for brainstorming as too short a period achieves nothing and too long a period can drag on without achieve your objectives.

Brainstorming For Green Elephants And Purple Moons

When brainstorming, you and your team are encouraged to think outside the box, let new and innovative ideas flow naturally. In fact, your brainstorming white board, nothing is impossible, inclusive of having green elephants or purple moons (metaphorically speaking).

Never suppress the contribution of ideas, do not let preconceived notions negate the viabilities and always assume that every idea is workable until tested. Let everyone have their say and contribute to instill sense of ownership of the idea.

How Adaptable Is Your Marketing Plan?

Doing business is a very fluid process, and anything unpredictable can happen at anytime. So my advise to you is that your marketing plan should be come with “shock absorbers and springs on their legs” so that it can be flexible enough to absorb the unexpected when it happens and bounce back to form almost immediately. This is the art of business survival and your springs and shock absorption system are your key tools to excel beyond survival.

Not only should you have these mechanism in place, you should also be able to scan changes in your business environment which could literally open up for more marketing opportunities. Have a well oiled marketing mechanism which adapts well to the ever-changing times, especially in these times of economic uncertainty. Building in a high degree of flexibility can help you save a lot of unnecessary or miscalculated expenses.

Set S.M.A.R.T. Goals for Accountability and Instil Sense of Responsibility

Every specific goal you set should consist of attributes which are measurable, attainable, relevant, and time-bound. When your project is completed and upon evaluation, you will have a set of guidelines to gauge the level of success achieved, or execute the improvement plan.

This gives your staff and yourself a sense of accountability as well as a duty to ensure success in the projects you undertake.

Set Explicit Marketing Timeliness Especially For Time Sensitive Projects

All projects must come to an end, or rather, all projects will eventually be completed. Whether you complete them in record timing or on extended timing, will eventually means profit or loss to your bottom line. A marketing plan time line is key to measuring the effectiveness and implementation success of any project that you embark upon. Events management, overseas exhibitions and shooting of an advertisement message are marketing tactics whose success largely depends upon.

From a broad perspective, every stage of the marketing plan from strategy formulation, tactics planning to implementation of each of the tactics should each have an individual marketing time line to ensure that each and every one of the activities are completed within a time period.

Less Is More, So Clean Up Your Marketing List

It is better to leverage on a short list of marketing activities and optimize its revenue potential. Otherwise, you might encounter system overload should you implement a series of small business marketing ideas without the support of sufficient manpower or budget. Eventually this could hurt rather than benefit your business reputation, as well as bottom line.

Match your company’s strength and potential business opportunities whenever you plan your projects and one key promotion mix tactic would be marketing joint ventures which could literally expand your market reach many folds and joint benefits to both parties.

If this is not the first time you are working on your marketing plan, go through your past marketing strategies and tactics. Adapt the successful ones and discard the failures. Remember that the market is a dynamic force made up of consumers, competitors and governing bodies and any of these can create changes to in the market at any point in time. Old ideas may not work anymore.

Chase Your Screen Saver!

Do up a catchy slogan and your SMART goals screen saver message. This will serve as a daily reminder as well as motivation to push you forward.

Writing a marketing plan should never be a pain. In fact, you should have fun working out your small business marketing ideas with your team. Achieving them together with their help can give your entire team greater satisfaction of sweet success.

To Adopt The Traditional Brick And Mortar or Internet Business Models

First and foremost in your mind should be the type of business you will engage in as well as the delivery channel to adopt. Traditional approach of brick and mortar business models will differ very much from that of internet business models. While one might argue that the key difference lies simply on the delivery channels used, the planning and implementation of the actual nature of business is very different. In fact, the entire process from product conception to launch to maintenance of internet business models is very unlike that of traditional ones. Of course the business and marketing concepts will still stand over time.

That said, you can have the best of both worlds, in that you could separately develop the channels and extend your reach many folds. Remember that you are never limited by choice, only by the perception of your capabilities.

Name Your Baby, But Brand It For Success

The next step is the naming of your business or company. A name is Not simply just a name. And while you may think that this is a simple and individual choice, you should note that the name of your business or company is the point of first contact between you and your customers. It is the best time for you to brand your company and position it positively to their perception.

Having a funky company name might help you target and appeal better to the younger age group but having a stodgy one could help you target the seniors more effectively. For new business startups, you have only your name to brand the company, and the existing entities will look to their products and services to do the branding.

Business Registration Decisions

There are varying practices when it comes to business registrations depending on which country or state you reside in. However, note that there will surely be special licenses and permits at the municipal level before you start operations.

Consult a business lawyer if you need advice on the legal impact of your business registration or need help with submitting the right papers. They could help you save tons of money down the road if you plan well before inception.

Set Up A Business Operating System, Business Banking Accounts and Credit Terms

Setting up a business operating system, business bank account and record-keeping system is the first function procedure you need to attend to immediately after having registered your business. You will need to have at least one business savings account and a current account which allows you to better track of your finances.

Record-keeping is an essential task, albeit mundane, but you can conduct this task easily with a computer rather than manually. You record keeping system should work in tandem with you overall business operation system.

Work with your accountant to set up your credit terms. Setting your credit terms too loose gives rise to customers abusing the terms, slack payment terms and low conversion of account receivables to cash, thereby hurting your cashflow. Setting the credit terms too tight could give rise to unhappy customers who might not have enough turnaround time to pay you. Contact potential creditors, present your credit terms, listen to them and make adjustments along the way. That said, you should not deviate too diversely from your standard credit terms otherwise it would be a nightmare for your accountant when it comes to tracking.

Protect Your Business With The Right Kind Of Insurance

There are a variety insurance to choose from when setting them up for your business. And depending on the nature of your business, you might choose to buy different types. For example, if you are a surgical doctor, you might wish to purchase medical liability insurance, or highly insure your hands which are the key to any surgery you do. If you run a busy warehouse, fire and content insurance is key. And if you have employees, check out the type of worker compensation insurance you are eligible to purchase.

There are many different types of insurance, but most probably your company will need at least one. For example, if you’re going to have employees, you need to contact the Worker’s Compensation Board. Depending on your type of business, you might want to contact them even if you don’t have employees to insure yourself.

Setting Up Your Office With The Right Equipment

Purchasing supplies and office equipment is key to setting up your office. Again, bear in mind that your office is the first physical contact point between you and your potential customers. Your office needs to be presentable, not flamboyant, classy yet not outrageous.

Prep up the reception counter and conference rooms which are key areas where your clients might meet you. Keep your office equipment out of sight from these areas.

These are the critical functional steps to starting your own small business. For more information on the key tips, check out Preparing A Business Plan as well as planning successful Small Business Marketing Strategies.

Well, we all thrive on fast food despite the greasy oozing grub. That said, not all fast foods are unhealthy, the organic sandwich bars, salad bars and soup shops for instance, which do provide you with filling yet nutritious meals. But regardless of its nutritional content though, fast food small business franchise opportunities do bring in the money.

In fact, this is a multibillion dollar business if you even stopped to think about it, what with the McDonald’s, Wendys’, Kentucky Fried Chicken restaurants all around the globe to prove the fact. Ultimately, billions of fast food lovers are indeed too huge a force to ignore, especially when you are working out a lucrative franchise.

Simply put, the franchisor will be building ‘chain stores’ to distribute his products and the franchise model allows him to avoid heavy investments and liability across the chain. That the franchisor is only as successful as his franchisee is very true indeed. This is why there is vested interest in both parties to ensure their businesses are run in the best way possible.

The small business franchising is a model whereby the franchisor provides the franchisee with comprehensive training, full support in business planning, marketing resources as well as operational advice, almost ready-made packaged products, and standardised in house promotions. The franchisee provides the venue and manpower to bring the business to the customers. In return for the investments, the franchisor will pay the franchisee a licences amount and an annual royalty fee, depending on negotiations.

In order for the franchise business model to be successful, the franchise business must meet and exceed the needs of its customers, have very strong branding, immaculate marketing and promotions planning, well incentivised franchisees and hardworking. Each chain store follows the same marketing and promotions plan to provide standardised products across the board. This business model is literally a distribution model which leverages and thrives on extensive reach of endless franchisees.

While all is well with the fast food franchise, it lacks flexibility. And the fraternity still finds its roots from the most fundamental and primal of all business plans. Take a look at the key success factors that I just listed, namely, delighting and over-delivering on great products and services, have strong branding, a good marketing plan, and hardworking workers. Indeed, these are, and not by coincidence, the key success factors for any small business too.

Alternatively, small business fast food startups can be lucrative too, especially when you are exploring a low cost start up business. Many successful small fast food businesses traced their roots to push carts by the corner streets and while you may not start a business on push carts, you could indeed build a fast food empire from humble food court units at your local shopping mall.

For food businesses, the key to survival and growth is to have an exceptionally unique recipe(s) which brings out the reminiscence and nostalgia of the yesteryears, the taste of mum’s or grandma’s cooking. Or tapping on one key and very abundant target market could literally help you turn your corner street startup into a chain in a matter of years.

Bear in mind too that fast food need not have to be burgers, they can be sandwiches, salads, soups, Italian, Chinese, Indian, Turkish (kebabs), Japanese, Thai or even your very own fusion foods too.

Yes, small business franchise opportunities like fast food small business franchising will always continue to make tons of cold-hard cash. But the new business startups too can have a fighting chance if you have that sustainable unique selling point that either bring back the taste of nostalgia and homeliness, or infuse innovative food fusion to overwhelm your taste buds. Yes, you too can build a food empire from a low cost start up business model.

The Advent of Mobile Media Marketing

Indeed, with the influx of affordable smart phones in the market since the end of 2009, the scene is set for more word-of-mouth to take on a technological twist. Social network platforms like Twitter, Facebook, Digg, Youtube and more have fanned the fiery fire of mobile media marketing to reaching new heights. The operative word that triggered this invisible movement is none other than “info-sharing on a personal level”. Simply look at the recent Twitter Location-Sharing and you will know how easy it is to share your exact location and dinner dates too!

Have You Heard of 2D Barcodes or QR Codes Yet?

Ever heard of the term 2D Barcode or QR Code? If you have not, it is time to do extensive research on them as they will probably become one of your best and most effective marketing tool in the very near future. QR Code is a term to define quick response and the code works like a “hyperlink” to generate more information for the recipient. Take for instance, a 2D Barcode is included onto a picture of a beautiful model, you snap a picture of the 2D Barcode and provided with more information about the model or the fashion she is wearing. Even Google is giving away QR Codes to businesses on Google Listing.

Indeed, QR Codes or 2D Barcodes can easily become the new age green marketing tool that helps us save trees and reduce paper based marketing paper print by going mobile and electronic in the process… Truly Food for thought…

Get Laser-Targeted Results with Local Mobile Marketing

In my 20 years of marketing consultancy, this is the first time I am witnessing a truly highly efficient and laser-targeted marketing channel which delivers 90% click through rates and record response time with full tracking. In my opinion, local mobile marketing is probably the most appropriate medium designed for the small businesses and small business startups. This channel tends to support the nature of small business customer interaction. Individuals love to interact and play with their cell phones, and it is very convenient for them to simply spread the word about your business to their friends with a simple tweet or mention in Facebook.

Did You Know.. You Are Using Mobile Apps Almost Daily Nowadays

As mobile apps technology mature over time, more of such applications will be included into the phones by default and the use of 2D Barcodes will grow to become even more popular.

In fact, we are now experiencing an onslaught of people trying to tap into the apps marketplace by churning out endless apps into the market, many of which are targeted at iPhone users. There places where you can visit to find out which are the most popular apps, most downloaded and for what purpose.

As a small business owner, you should first You should also recognize what competitors are doing with mobile technology, such as running contests, giving away discount coupons, targeting pockets of customers at respective times of the day or even snatching customers from you without you even knowing it!

Yes, welcome to the brand new exciting world of small businesses. Indeed, it is time to rethink your “1D” marketing tactics and start your “2D” small business marketing strategies as soon as you can. Remember that Mobile Media Marketing need not be expensive, but it is a more efficient and effective approach if you master it well. And more importantly, mobile marketing trends cannot be ignored as they will become a powerful marketing force to be reckoned with in the very near future.

Essentially, sell-sumers literally sell what they consume in return for money. In the name of consumer participation, be it selling their opinions to corporate surveys, paddling their views to fellow consumers, sell-sumers are fast becoming a commendable marketing force employed by far sighted early adopters. This is one of the best approach for product makers solicit feedback especially during product testing stage, but this is not to say that existing products do not benefit from it. They do, in the same way that new test products do. This is probably one of the low cost forms of generating product reviews and response from the product owners’ point of view. They are going into the marketplace to generate opinions of real users from first hand accounts – indeed, the most authentic product comments a product maker can ever have.

Consumers no longer simply consume, but literally participate and contribute to the marketing and product improvement process. Consumers are quietly riding the tide of this evolving trend of endless novel ways to make money from selling personal assets, opinions, creations etc. This new trend is here for good due to the fact that Sell-sumers are fast perceived to be a growing and critical link in the entire product creation and enhancement process.

Sell-sumers will give their opinion on new and existing products in the market and the most effective way to generate constructive feedback on the products is to accord them the greatest freedom to opine on the features, benefits and drawbacks. Product makers should then incorporate the constructive feedback into their product improvement process.

Consumers have been subconsciously trained to become experts in their products they consume in terms of their needs, wants and desires. In fact, they are also well tuned in topic of business, marketing as well as advertising. It hence follows that these sell-sumers can then proceed to give their opinions to any business owners who might even trade business tips and product feedback for money.

Being able to get extra cash is always a great proposition, especially when it is nothing more than simply expressing your consumer perspectives. Indeed, an interestingly twist to the traditional small business marketing strategies that we have been executing.