Strategy Archives - GUJRAT INDIA

Trade Finance As A Business Development Strategy

Without trade finance, there wouldn’t be Indian spices, clothes, or jewelry in the United States. Or Apple’s iPhones in China, much less any other international product at any respectable distance from its origin.

In fact, according to Investopedia, the World Trade Organization (WTO) estimates that international world trade has expanded 80%-90% thanks to trade finance.

For this to continue, companies need to include trade finance in their business development strategies.

How do you do that? Learn how you can incorporate trade finance into your business development strategy.

Incorporate Inland Trade Finance in Market Penetration and Market Development

Market penetration and market development are key parts of a business development strategy. Market development involves selling more of your service or product to repeat customers.

While market penetration is about expanding your product or service to other cities and provinces, it can involve inland trade finance. As you may have to renegotiate local and provincial trade deals.

For instance, let’s say you sell jewelry. A business from a neighboring city may purchase your jewelry and sell it to its customers.

You have a long history with this client. And know that your product is selling quickly in your customers’ shop. In which case, you could propose selling the client more jewelry for a bulk price.

After negotiating, the client agrees. However, despite the long, positive history you’ve had with the client, the client may not feel comfortable paying you before you export the jewelry.

This is where a trade financier or banking institution comes in, providing a letter of credit promising that you will export the jewelry upon payment.

Consider the Internet and Brick-and-Mortar Stores

If you’re already selling more of your product or service to clients, perhaps it’s time to branch out to another channel such as the Internet?

If you run a successful e-commerce store, maybe it’s time to start a brick-and-mortar store as well?

That way, your customers have more options where to buy your products.

Especially when it comes to brick-and-mortar stores, trade finance can help you secure new import and export trade deals-especially when there are multiple currencies involved.

Creating a New Product or Service for Repeat and New Customers

With repeat customers, you’re doubling the number of products the repeat client is importing.

And, with new clients, your new product or service will expand your client base. It’s important that you first create new products for your repeat customers before jumping to new customers, as it involves more risk.

Again, trade finance can help cultivate more trust during this period of growth. Since trade financiers or banking institutions can create letters of credit, laying out the terms the importer and exporters must follow.

Final Thoughts About Your Business Development Strategy

Know that growth doesn’t happen in a day; it’s harder for businesses to jump from market penetration to supplying new products to new clients.

This is why we recommend that you approach growth slowly. However, know that trade finance may help increase the number of clients you trade with, no matter where they are.

What’s your take on trade finance? How has it helped your business? Share your thoughts, comments and responses with us.

Rev Up Your Social Media Marketing Strategy

In less than five years, social media has revolutionized not only our communication culture but how we conduct business. The dizzying effect of unlimited-and sometimes unfettered-24-hour access to people and information has transformed the various tools into a game changer.

There is a broad and increasing list of sites, including BlinkList, YouTube, Delicious, Flickr, Tumblr, BlogMarks.net, and the triumvirate of major sites: Twitter, Facebook, and LinkedIn. These social destinations have become to business professionals and entrepreneurs what golf is to C-suite powerbrokers-an opportunity to strategically network and close deals based on shared interests and personal engagement. But these sites do more, by offering users valuable real estate to advertise products or services, create and expand brand recognition, solicit feedback, build relationships, and create community forums. Users also have unprecedented access to consumers, hiring managers, prospective clients, industry experts, and opportunities.

Moreover, social media levels the playing field by allowing anyone access without restrictions on time, location, or social status.

The most diligent and creative players are reaping huge benefits. According to a report from Forrester Research, 55.6 million U.S. adults-just shy of one-third of the population-visited social networks at least monthly in 2009, an increase from 18% in 2008. Recent Nielsen research says Americans spend nearly 25% of their time online on social networks and blogs, up from nearly 16% a year ago.

The initial foray into social media can be daunting and bewildering. Newcomers to the space might wonder: Who’s reading? Will I be heard or noticed? Isn’t it all just fun and games? Isn’t it invasive? Making the effort worthwhile requires time, patience, and a work-smart-not-hard strategy. Whether you’re an entrepreneur or a corporate professional, the success of marketing your products, businesses, or your personal brand will be determined by how well you engage interest on the varying platforms. In part one of a series on social media strategies, Black Enterprise offers some tips to get you connected.

What Business Owners Should Know

Finding out who your customers are and how they like to be served is essential for the success of any business. Questions and surveys offered on social media platforms can help business owners quickly access that information. Jason Burton, social media strategist and marketing director of Lab 5702, a boutique marketing solutions firm in Kansas City, Missouri, says such data can help you position your product to broader groups outside your initial base of contacts. “Put your product in front of the trendsetters or the next level of users,” he suggests. “Targeted searches let you drill down beneath the surface to find followers and potential influencers that can use or promote your product or service.”

Location-based social mapping services such as Foursquare, Google Latitude, Loopt, Facebook Places, and MyTown allow consumers to benefit from their influence. For example, if you visit your favorite flower shop in Tucson and tweet it to your followers, you get $2 off your purchase. The greater the network and influence, the bigger the discount. These services also enable users to find friends and events; share locations, updates, tips, photos, and comments; and share across online social networks and blogs. Loopt has more than 4 million registered users and partnerships with every major U.S. mobile phone carrier and is available on more than 100 smartphones, including the iPhone, BlackBerry, and Android. Google Latitude and Foursquare boast more than 3 million users each. Greater social media interactivity has been facilitated by mobile apps such as ÜberTwitter, MobileLinked IM, and Nimbuzz. According to a Juniper Research report, the number of downloads from mobile application stores is expected to rise from fewer than 2.6 billion per year in 2009 to more than 25 billion in 2015.

What Corporate Professionals Should Know

Carmen Hudson, CEO of Tweetajob in Seattle, oversaw employer branding campaigns when she was senior manager of talent acquisition for Yahoo and has witnessed the shift in recruitment practices. “Companies are cultivating and marketing a brand that attracts and is attractive to certain types of candidates,” she explains. For companies such as Yahoo, Starbucks, Apple, and Microsoft, social media is increasingly at the forefront of that strategy. Recruiters will, for instance, use LinkedIn to create a search stream of attributes to find precisely the type of candidates hiring managers are looking for with minimal time and fuss. Moreover, Hudson adds, “They’re also looking at how many followers you have. Do you have a strong network? If you’re an expert, friends and/or follower numbers are strong indicators of that.”

A Jump Start Social Media survey of hiring managers indicates that 66% go to LinkedIn to find candidates for openings, 23% go to Facebook, and 16% to Twitter. “Job seekers who frequently post and update profiles are nimble and often get to job opportunities first,” Hudson says. “Recruitment officers can execute a well-rounded and more diverse search, through a search stream of attributes because they now can meet candidates where they play,” says Hudson. At the same time, companies can promote the brand and the company message, which gives the job seeker a more informed perspective on the companies as potential employers.

How to Maximize Social Media Marketing to Promote Your Brand or Business

• A blogging platform such as WordPress or Blogspot, is essential, advises Warren Laidler, webmaster and creative director of DeLite Multimedia] in New York City. Blogs have greater potential for organic leads because their content-rich nature makes them more search engine friendly. Search engines love content-driven platforms and rank them higher than static websites. “Think of your blog as a launch pad or hub for your enterprise. Your social media efforts should lead back to your blog or website, which should be dynamic and informative, providing content and information that encourages visitors not only to return, but to distribute your content to their network.”

• Blogs or websites should contain SEO, or search engine optimized, keywords and phrases that help visitors find the business when they search via Google, Yahoo, Bing], and others. Laidler also suggests pulling in RSS feeds and useful links into your blog. “RSS feeds allow you to import content from outside sources and are a great way to share information that visitors find interesting.”

• Work on engagement and consistency. For example, your Twitter timeline should be a combination of original updates, retweets, or shares from other sources, replies from connections, inspirational quotes, and trending topics. A standard formula is two to four tweets per day. Positive activity can also blossom quickly and create buzz that reaches well beyond a business’ core audience. In the virtual world, consumers and job seekers can become influencers and trendsetters by persuading their network to take action or buy a product or service. Laidler suggests using tools like Klout or Twittergrader.com to measure your social media influence and find out the reach of your Twitter posts.

• Choose a picture for your social media avatar, rather than a logo, advises Joel Comm, social media expert and New York Times best-selling author of Twitter Power. “People like faces associated with companies. Customize your Twitter background. Use photos, links, contact information, RSS feeds, etc. to individualize and promote your brand.”

• Choose a third-party application or service, such as TweetDeck or Hoote Suite, SocialOomph and Twaitter, which allows quick, easy distribution of posts and other content among multiple social media sites. “You can incorporate plug-ins or apps on the sidebar of your blog page that allows visitors to easily access all your social media,” says Laidler. “All social media sites have plug-ins or widgets that allow fast, easy updates with one click.”

• Don’t follow everyone who follows you on Twitter. Conduct targeted keyword searches for individuals, companies, and other industry players who are important to you or who you want to have as a client.

• Show off your expertise. If you’re in business, you’re already an expert with valuable information people want to know, Comm says. Use your talents, passion, ability, and personality to your advantage.

Do You Have A Winning Export Business Strategy?

There is a famous saying that, `Behind every successful man there is a woman’. The same holds true for business too… `Behind every successful business, there is a strategy. One has to be extremely careful when working out their strategies for the export market. You might get away with improper plans in the domestic market but the export market is harsh & cruel. As it is the export oriented market is a extremely competitive one with people working on the minutest of margins, so it is important to grab hold of an opportunity and stick with it. Targeting your market, keeping reasonable prices, having a proper & efficient distribution channel etc. are the keys to a successful export oriented business.

Marketing Strategies for Export Business: Marketing strategies for the export market is not too much different from your local marketing strategies. Different countries have different ways of looking at the same product; hence it is best left to your distributors in a particular country to look after the marketing strategies for that country. Do not overload yourself with all the work. Concentrate more to see that the distribution & production channels are running smoothly. Logistics is one point that one should take care of along with stock positioning. Suppose you have a surplus stock of goods in one European country and there is a shortage of supply of the same product in another European country. It makes sense to forward the excess goods in the European country to the European destination that is facing the shortage. Not only will you save out on money, but also the goods will reach the required market much faster. One should also have a decently designed website along with their own domain. I for one, would never conduct business with a person who had a Yahoo email id.

Set your priorities right: Before you embark on your export business you have to set your marketing objectives properly. Remember, you are an unknown face over there and your potential market will know about your products if they are exposed properly. Having one’s website does help and a properly designed webpage with search engine optimized pages that come up in the top 10-30 results helps a lot in marketing your product properly. Even then, it is suggested that one advertises in the proper media for a couple of weeks running. Once you have been able to reach out to the potential buyers, it is the quality of your product which will market itself. Word of mouth advertising is the most successful means of getting ones goods promoted and it does not cost a copper. Your agents should be able to chalk out an advertising blitz for you, or if you so prefer, you can use the services of an international advertising agency.

Know your clientele: One needs to be sure that the product they are marketing is of international standards. What might be good for your country might not be for other countries. Most foreign countries have stringent `quality control’ laws and one should be aware of the same. Good and loyal customers are hard to come by and hence you should assure that you follow up your sales with god after sales service. Treated properly, these same clients will spread news about your products and hence earn you more clients. One should pay special attention to their distribution and after sales centers in foreign locales. They should be managed by a reliable person who should report back directly to you.

e-Marketing Strategy: 7 Dimensions to Consider (the e-Marketing Mix)

What is e-Marketing?

e-Marketing is still quite a controversial subject to talk about, since no one succeeded to unify the various theories around it; however there is one thing upon which there is no doubt – that e-Marketing first appeared under the form of various techniques deployed by pioneer companies selling their products via the internet in the early 90’s.

The frenzy around these new marketing techniques created by e-tailers and supported by the internet rapidly gave birth to a new dimension of what we knew as Marketing: the e-Marketing (electronic Marketing).

There are many definitions to what e-Marketing is, the simplest and shortest one being formulated by Mark Sceats: e-Marketing is Marketing that uses the internet as manifestation media. A working definition is that coming from a group of CISCO specialists: e-Marketing is the sum of all activities a business conducts through the internet with the purpose of finding, attracting, winning and retaining customers.

e-Marketing Strategy

The e-Marketing Strategy is normally based and built upon the principles that govern the traditional, offline Marketing – the well-known 4 P’s (Product – Price – Promotion – Positioning) that form the classic Marketing mix. Add the extra 3 P’s (People – Processes – Proof) and you got the whole extended Marketing mix.

Until here, there are no much aspects to differentiate e-Marketing from the traditional Marketing performed offline: the extended Marketing mix (4 + 3 P’s) is built around the concept of “transactional” and its elements perform transactional functions defined by the exchange paradigm. What gives e-Marketing its uniqueness is a series of specific functions, relational functions, that can be synthesized in the 2P + 2C+ 3S formula: Personalization, Privacy, Customer Service, Community, Site, Security, Sales Promotion.

These 7 functions of the e-Marketing stay at the base of any e-Marketing strategy and they have a moderating character, unlike the classic Marketing mix that comprises situational functions only. Moderating functions of e-Marketing have the quality of moderate, operate upon all situational functions of the mix (the classic 4 P’s) and upon each other.

1. Personalization

The fundamental concept of personalization as a part of the e-Marketing mix lies in the need of recognizing, identifying a certain customer in order to establish relations (establishing relations is a fundamental objective of Marketing). It is crucial to be able to identify our customers on individual level and gather all possible information about them, with the purpose of knowing our market and be able to develop customized, personalized products and services.

For example, a cookie strategically placed on the website visitor’s computer can let us know vital information concerning the access speed available: in consequence, if we know the visitor is using a slow connection (eg. dial-up) we will offer a low-volume variation of our website, with reduced graphic content and no multimedia or flash applications. This will ease our customer’s experience on our website and he will be prevented from leaving the website on the reason that it takes too long to load its pages.

Personalization can be applied to any component of the Marketing mix; therefore, it is a moderating function.

2. Privacy

Privacy is an element of the mix very much connected to the previous one – personalization. When we gather and store information about our customers and potential customers (therefore, when we perform the personalization part of the e-Marketing mix) a crucial issue arises: that of the way this information will be used, and by whom. A major task to do when implementing an e-Marketing strategy is that of creating and developing a policy upon access procedures to the collected information.

This is a duty and a must for any conscious marketer to consider all aspects of privacy, as long as data are collected and stored, data about individual persons.

Privacy is even more important when establishing the e-Marketing mix since there are many regulations and legal aspects to be considered regarding collection and usage of such information.

3. Customer Service

Customer service is one of the necessary and required activities among the support functions needed in transactional situations.

We will connect the apparition of the customer service processes to the inclusion of the “time” parameter in transactions. When switching from a situational perspective to a relational one, and e-Marketing is mostly based on a relational perspective, the marketer saw himself somehow forced into considering support and assistance on a non-temporal level, permanently, over time.

For these reasons, we should consider the Customer Service function (in its fullest and largest definition) as an essential one within the e-Marketing mix.

As we can easily figure out, the service (or assistance if you wish) can be performed upon any element from the classic 4 P’s, hence its moderating character.

4. Community

We can all agree that e-Marketing is conditioned by the existence of this impressive network that the internet is. The merely existence of such a network implies that individuals as well as groups will eventually interact. A group of entities that interact for a common purpose is what we call a “community” and we will soon see why it is of absolute importance to participate, to be part of a community.

The Metcalf law (named after Robert Metcalf) states that the value of a network is given by the number of its components, more exactly the value of a network equals the square of the number of components. We can apply this simple law to communities, since they are a network: we will then conclude that the value of a community rises with the number of its members. This is the power of communities; this is why we have to be a part of it.

The customers / clients of a business can be seen as part of a community where they interact (either independent or influenced by the marketer) – therefore developing a community is a task to be performed by any business, even though it is not always seen as essential.

Interactions among members of such a community can address any of the other functions of e-Marketing, so it can be placed next to other moderating functions.

5. Site

We have seen and agreed that e-Marketing interactions take place on a digital media – the internet. But such interactions and relations also need a proper location, to be available at any moment and from any place – a digital location for digital interactions.

Such a location is what we call a “site”, which is the most widespread name for it. It is now the time to mention that the “website” is merely a form of a “site” and should not be mistaken or seen as synonyms. The “site” can take other forms too, such as a Palm Pilot or any other handheld device, for example.

This special location, accessible through all sort of digital technologies is moderating all other functions of the e-Marketing – it is then a moderating function.

6. Security

The “security” function emerged as an essential function of e-Marketing once transactions began to be performed through internet channels.

What we need to keep in mind as marketers are the following two issues on security:

– security during transactions performed on our website, where we have to take all possible precautions that third parties will not be able to access any part of a developing transaction;

– security of data collected and stored, about our customers and visitors.

A honest marketer will have to consider these possible causes of further trouble and has to co-operate with the company’s IT department in order to be able to formulate convincing (and true, honest!) messages towards the customers that their personal details are protected from unauthorized eyes.

7. Sales Promotion

At least but not last, we have to consider sales promotions when we build an e-Marketing strategy. Sales promotions are widely used in traditional Marketing as well, we all know this, and it is an excellent efficient strategy to achieve immediate sales goals in terms of volume.

This function counts on the marketer’s ability to think creatively: a lot of work and inspiration is required in order to find new possibilities and new approaches for developing an efficient promotion plan.

On the other hand, the marketer needs to continuously keep up with the latest internet technologies and applications so that he can fully exploit them.

To conclude, we have seen that e-Marketing implies new dimensions to be considered aside of those inherited from the traditional Marketing. These dimensions revolve around the concept of relational functions and they are a must to be included in any e-Marketing strategy in order for it to be efficient and deliver results.

How to Use Social Networking in Your Marketing Strategy

Any business today will understand how crucial it is to have an online presence for the future success of the business. With the right use of the Internet marketing tools available, you can allow your business to flourish in even the most competitive market. Social media is one of the most powerful marketing tools available today. As more businesses are gaining an understanding of the efficacy of Internet marketing tools, social media is becoming a more popular option. With most potential customers spending at least part of each day online, marketing on the Internet is the easiest way of reaching customers across the nation and around the globe.

What is Social Network Marketing?

Sites like Facebook, Twitter, MySpace, and LinkedIn are the most popular social media networks for both online and offline businesses. The proper use of these sites will help you reach more customers. The biggest advantage of sites like these is that they offer free sign-up, which makes them among the most cost-effective advertising tools available. Through your social media site, you can advertise sales, invite customers to special events, and connect to a whole new group of customers without spending money to market directly to them. Other Social Networking Tools Within social media sites you will gain access to many other tools that will enhance your online presence and allow you to connect with more customers.

• News aggregators are social networking tools. These news feeds allow you to stay on top of the latest news in your business, based on the topics you select. Sites like Digg give you access to news aggregation services that will give you the information you need. Placing a Digg icon on your blog or in articles will also give you the chance to appear in the Digg news feed, further expanding your market.

• Tracking tools will also come in handy when planning your social networking strategy. With Internet tracking tools, you can stay on top of how many times people click links within your site, so you’ll know which strategies are working. They will also give you access to information about how many times people share links on social networking sites.

• All-in-One tools allow you to maintain many different social networking accounts with ease. With the right tools, you can access multiple social media accounts at once so you can communicate with more customers. With creative use of the right social networking tools, you can find your way to the success you want for your business.

How to Develop a Powerful Marketing Strategy

Introduction

As you launch your new real estate business or wish to elevate it to the next level of success, it will be critical to have an efficient and cost effective marketing strategy. Having a great product, deal, or service will not bear any fruits of your labor if you are not reaching the proper audience. The following information will highlight many concepts and recommendations you may want to consider as part of your marketing plan. Because of the general nature of this material, all information may not apply to your specific business model.

Marketing and Advertising Concepts

Recommendations Go a Long Way

Perhaps one of the most powerful tools you can ever have in your marketing arsenal that you can’t buy for any price is to have people who have done business with you, or are familiar with your business ethics and professionalism to provide positive recommendations. You need to capitalize on all of the hard work and service you have provided in the past to instill confidence among your new relationships that you will continue to provide the same premier performance. We have all been exposed to testimonials and recommendations throughout many aspects of our life. Clearly, most people don’t need any further convincing beyond a sincere recommendation from someone not benefiting from the referral.

Use Referrals And Recommendations As A Marketing Tool

As you establish your history of past success stories, you should compile this information and share it with people you are trying to influence with regards to your ability to perform. An example of this could be a presentation folder that could include a summary of past projects as well as copies of any written letters of recommendations. In addition, you should have readily available a list of past clients that have given you permission to give out their contact information as a reference. You will have far more credibility if you provide this information in advance as part of your presentation material instead of your new potential client having to request this information; proactively providing this information will demonstrate your confidence in your services.

Know Where Your Leads Are Coming From

To have an effective marketing program, it will be critical for you to know what strategies are making the phone ring. When you fully understand what approaches are producing results, you can shift marketing efforts and capital away from the methods that are not producing the desired results and apply them to the methods that are successful. During your day to day activities when making inquiries on services and products you need, I’m sure you have been asked “Where did you see our ad” or “How did you hear about us”. This is their attempt to do their own marketing research on what is working for them.

There are a number of techniques you may want to consider that will help you to understand where your leads are coming from. Of course you can just come out and ask them. Alternatively, you could use the following methods:

– The use of different color stock on forms can help you establish what “color area” is responding.

– Have each different ad have a unique “offer number” and ask for his number during your conversations.

– Have a different response phone number for each ad or location.

Keeping Your Marketing Plan Going

There is one mistake that is common to new smaller businesses, once they get busy with the business that is coming from their marketing efforts, they become distracted and lose focus on keeping the marketing plan going. An example of this is getting wrapped up in a flip you are directly involved with that is taking away from your time to send out direct mail letters. Remember, with most of the common business models, once you’re done with the current deal, you need to get another one in the pipeline; otherwise, the flow of income may stop or be reduced. As another example, have you ever tried to get an estimate for a repair on your house? It seems they are all too busy on the job they are currently on to stop and work on new business.

Delegate Or Outsource Your Marketing Activities

As you are developing or expanding your business, the day to day challenges of running your business along with everything else going on in your life can stand in the way of you working your marketing plan. If you feel this is occurring and is affecting your potential business success, it may be to your advantage to either delegate or outsource some or all of your marketing activities. Using this technique will allow you to free up some time that could be used to work on items that will help you grow the company. Some examples of the marketing tasks that could be delegated or outsourced are highlighted below:

– Preparing and mailing marketing materials and direct mail letters

– Distribution of flyers

– E-mail support

– Covering phone calls

Keep in mind that before you let other people get involved with your marketing and speaking with potential clients and customers, make sure they have been adequately trained and the process has been documented in your company procedures (see “How to Write Your Business Plan” for information on the development of standard work modules).

Dealing with Rejection

As you develop your marketing strategy and “hitting the streets”, you should be prepared to face some level of rejection. The level of rejection you will experience will be determined based upon your approach, persistence, and what is the current situation and state of mind of the person you are dealing with. If for example your marketing model is focusing on homeowners in foreclosure, there will be a very high rate of rejection. In some cases they may be in denial regarding their current situation and also because they have been overwhelmed with the interest in their property from all of the investors who saw the Lis Pendens filed. You must recognize that this type of marketing is a numbers game and the more people you have an opportunity to make contact with, the higher the probability to secure business.

Even Rejection Can Make You Money

As you work through your targeted marketing area and encounter rejection, remember that each door closed in your face or phone call hang-up will get you closer to a completed transaction. If for example it takes 100 calls to close a deal worth $5,000 than each rejection is worth $50.00! Although difficult at first to imagine that rejection makes you money, it could help motivate you to move on to the next door slamming or phone-hang-up opportunity.

Your Marketing Should Have A Look

As part of your marketing efforts to “brand” your company, you may want to consider the use of logo’s, slogans, and trademarks in all of your ads and promotional merchandise. In addition, the use of “company colors” that is used exclusively in all of your marketing will also help to create a unique look that will help to set you apart from your competition.

Marketing and Advertising Techniques

The following section will provide you with some specific recommendations on marketing techniques you may want to consider. Since this information is generic in nature, all recommendations may not apply to your particular business model.

Due to the significant impact on operating budgets to fund marketing and advertising activities, you should be very critical on what methods become part of your Business Plan.

Buy A Ton Of Business Cards

One of the most inexpensive and effective ways for you to market yourself and your business is through the distribution of your business cards. During networking and casual meeting opportunities, the exchange of business cards will be a critical tool for you to assemble your contact list. Even if you are just starting out and don’t even have a company or services to offer, the small investment in business cards will allow others to have your contact information. At a minimum, the card should contain the following information:

– Your name

– Title or company name

– Fax number

– Phones number(s)

– E-mail address

– Websites

In addition, you can add information with regards to the specific business models you are involved with, for example:

– Foreclosures

– Short Sales

– Property Management

– Rehabs

Business Cards Design Suggestions

– Make your business cards stand out with bright colors or interesting artwork or graphics.

– Avoid the glossy type of paper because it is difficult to write on (in the event the person you are giving them to would like to make some comments on meeting you or your services).

– Use the back of the card as well to provide additional information on your business; why waste valuable marketing space?

– Have a powerful hook on the cards to include statements like:

– “We will close in 7 days”

– “We buy all houses in any condition”

– “We buy with all cash”

– “Get a $250 referral Fee”

Bandit Signs

Bandit signs are a great way to attract attention from people on foot or in vehicles. These signs are usually 2′ X 3′ or smaller and are designed to either stick in the ground or mounted to a pole. This method of advertising is very economical and when using the plastic version will allow for repeated use. It is suggested that you get them printed on both sides if you plan or placing them in areas where people will be coming from both directions.

Displaying Ads and Signs

Proper utilization of the various types of ads and signs will help support your efforts in establishing high visibility and presence in your targeted marketing area. The number of ways to display your company name, logo, and services you provide is limited only by your imagination. The following section will highlight the most common locations and methods you may want to consider for posting your ads:

– On billboards (very popular in rural and city areas)

– Sponsor or adopt a community bench, garden, or road clean-up.

– On buses

– On railroad cars and stations

– Local community and church newsletters

– Placemats in diners and restaurants (I always read these things while I’m waiting for my food)

– Place signs on your property while you are working on it and marketing it.

– Advertising lettering or magnetic signs for your vehicles.

When using lettering or magnetic signs for your vehicle make sure to check local ordinances; by placing a sign on your vehicle could make it be considered a commercial vehicle. Also when using magnetic signs, make sure they are secured properly. I have heard instances of these signs flying off during high speed travel and when exposed to rain. If you can also have a sign on your trunk, it will make it easy for people to read it as they follow behind you or at stop signs and traffic lights. Make sure to use large text size on your contact number.

Marketing Flyers

When designing flyers, it will be important for you to use bright colors to attract the eye. When placing them in stores, your flyer may be among dozens of other items that are posted so it must have some punch. To help minimize the chances of someone just taking the entire flyer, design it to have tear-off tabs at the bottom that contains minimal information on your services and a contact number.

Check Local Ordinances

When using signs and flyers as part of your marketing program, make sure you check with your local town regulations to ensure you are not in violation. Most towns have laws on the books that prohibit the display of signs and may come with substantial fines.

People Love Giveaways

Another marketing tool that will help you with your company exposure is to give out small gifts that promote your business and services. The possibilities are endless on the type of give-a-ways you can come up with and is limited only by your imagination and budget. The following list will provide some recommendations that are typically used for this purpose:

– Shirts and jackets

– Calendars

– Recipe cards

– Hats

– Letter openers

– Golf balls, tees, or towels

– Refrigerator magnets

– Stationary items (pens, pads, binders, etc.)

– Cups

– Totes and bags

When selecting the product give-a ways, you want to pick items that are designed to encourage use (nobody will wear an ugly tee shirt; it will be probably used as a rag). Avoid one time use products like candy, cookies, etc. Many companies offer these types of products at various price point budgets. Do a web search on “marketing merchandise” and you will get some great ideas. To reiterate, you may want to keep a consistent look to all of your marketing gifts.

Be An Exhibitor Or Sponsor

Another outstanding marketing method you may want to consider is to participate as an exhibitor or sponsor at conventions and investment organization meetings. These events can be very effective in reaching people that may benefit from your services. Sponsorship and exhibitor costs can range from a few hundred dollars to thousands depending on the venue and size of the organizations. With many organizations, you may have an opportunity to set up a display table as well as a speaking slot to highlight your services. One comment with regards to this marketing option is that people typically feel more comfortable doing business with you when they see you as a “regular” sponsor and not a one shot deal because it adds more credibility that you will be around. This type of marketing could be a significant drain on your allocated budget and it will be critical for you to determine if the appropriate level of business is being derived from this approach to justify the expense. By doing a web search for Investment Clubs and organizations you can select particular groups you would like to focus on.

Advertise In Hard Papers

Running ads in hard papers such as newspapers and trade magazines can be a great way for you to keep your company’s products and services in the eyes of the readers. Although this method of advertising can consume a majority or your marketing budget, it can represent a tremendous opportunity to reach a large mass of people. When considering using this advertising method, you may want to implement some of the following recommendations:

– Have a “hook” to your ad like “We will close with cash in 72 hours”.

– Advertise constantly

I’m sure you have observed ads that always seem to be displayed. This constant exposure although costly, will help to develop your company’s long term credibility.

– If your ad is listed in column form, consider adding a blank space above and below the text, this will make the ad stand out.

– If possible, use a contrasting or reverse color or text from the standard format.

Out of State Newspapers

Based upon the particular business model you are involved with, it may be necessary to either advertise or receive copies of out of state newspapers.

Using Public Records

Depending on your particular marketing areas or contact group, you may have good success accessing the public records that are available on-line. The information available will vary from state to state and also based on local township on-line capabilities.

The Use of Purchased Lists

An effective method to locate a particular group of people or businesses is to purchase a list from companies that specialize in generating and selling information about specific groups of people. An example of these types of lists includes the following:

– Recent graduates

– Recently relocated

– Recently sold their home

– Recently turned a milestone age (example:18,21,50,62,65)

– Recent Lis Pendens filings

The lists of possibilities are endless. Companies that generate and/or sell these lists are marketed by “List Brokers”. Try a Google search on this and you will see how big this information industry really is.

Be Prepared to Get Responses to Your Marketing Champaign

There is one area that many people fear when launching their marketing strategy and you need to get properly prepared for this and that is getting responses to your marketing efforts. The last thing you want to exhibit to people who are reaching out to you is your lack of confidence in being able to help them. In addition to having a strong foundation of knowledge in the particular business model you are marketing, you will need to develop a standard process on what you will do when they start calling you or responding to your calls. It is suggested that you put together a scripted dialog or bullet list that you will use when speaking with potential clients. The dialog or bullet list should be used as a guide as you are speaking with them to ensure you are gathering the appropriate data from them and presenting all of the critical highlights of why they should consider working with you.

Practice Makes Perfect

It will be absolutely critical to make sure you are projecting confidence when speaking to potential clients. I have spoken to many people who have left the leads hanging because of their fear in making contact with them; one way to mitigate this fear is by practicing and learning from your good and bad experiences. It is suggested that you conduct role playing to practice your approach. Another strategy that works well is to record your conversations and listen back to them. It will be critical to extract lessons learned from the calls and to apply these lessons to future calls. Keep in mind that the more you do this, the more effective and successful your “close rate” will be.

Don’t Touch That Mailbox

Keep in mind that you are prohibited from placing anything in a mailbox that does not have the appropriate postage. If you practice this technique, there is a very good chance you will be contacted by a representative from the postal service.

Creating Your Buyers and Clients List

Whether your real estate business model is wholesaling, rehabbing, selling notes, or any other model that requires you to rely on someone “taking your deal” will require you to understand the investment goals of your potential clients. To achieve the highest degree of project turn-over efficiency and to minimize your risk exposure, you will need to have investors and clients in a stand-by mode waiting for you to hand them your next investment opportunity they will consider. It will be very important that as you begin to launch your marketing and networking activities, you have a method to compile the investment criteria of your buyers or clients. It would be very efficient to have this information as part of a spreadsheet database. To help gather this information, you could create a form that can be filled out that will highlight the investment goals of your buyers or clients.

Having a comprehensive buyers list that includes the specific criteria of your buyer will help you to align available investment opportunities to the appropriate investors. In addition, understanding these criteria in advance will allow you to go out and seek new investments that you know will fit into the investment strategy of your buyers and clients that will be willing to pull the trigger if you bring them a good deal. The following list will provide examples of common criteria you would want from your investors (let’s assume for this example we are involved in the flipping business model)

– Specific locations

– Price point

– Age of property

– Class of property (A,B, C, D)

– Type of property (single-family, multi-family, commercial)

– Financial expectations

– Cash flow

– Cash on Cash returns

– Minimum percent of equity position

– Capitalization Rate

– Condition of property

– Creative Financing

Also keep in mind the relationship you develop from your Buyer’s List may also be a source for deals they bring to you. Perhaps a deal is too big or too small for a particular investor or they are too busy to get involved in another project at this time. The fact that you have presented them with investment opportunities in the past can set the stage for them to feed you a deal.

Qualify Your Buyer’s List

It will be critical for you to establish if the contacts on your Buyer’s List are able and willing to take deals that meet their investment criteria. The last thing you need when you are trying to wholesale a deal is to find out your buyer’s are just tire-kickers. One way to help avoid this situation is to get to know your buyer’s and become familiar with their past success. Through your networking and relationship building with these buyers’s, you should be able to feel them out with regards to their ability to pull the trigger.

I’m sure you’ve heard before, “If I find a great deal, I know the buyers will follow.” Although there is some logic to this statement, if you have buyer’s queued up in advance knowing their investment criteria, it will help to minimize your risk of not being able to close the deal; this can be a real concern when you are in a stale or decreasing market.

Your Extended Marketing Team

In addition to your planned direct marketing efforts, there could be past clients, family, friends or business associates that may provide additional sources of leads and business for you. This circle of contacts if properly utilized could be another informal arm of your comprehensive marketing plan. Although most people would normally pass along any services or products you provide to someone they know in need with no compensation; one sure way to motivate them to help bring in additional business is for you to offer a referral program. Depending upon the business model you are involved with, you could compensate them on a per deal basis. It is suggested that you provide these contacts with some of your marketing material.

Using Bird-Dogs To Augment Your Marketing

To bring the concept of an extended informal marketing team to the next level, you may want to enlist the help from people whose specialty is to locate deals for clients and present them for consideration. These people are called Bird-Dogs and they do this work as part of their business model. When using Bird-Dogs, it will be critical that they understand your criteria so they will not waste your time or theirs. Usually Bird-Dogs will only get compensated if a deal closes. A Bird-Dog fee is usually paid at closing.

Using Technology To Market More Efficiently

Have Your Own Website

Having a website can be a powerful tool to provide current and potential clients information on the products and services your company offers. The use of websites is so common that omitting it from your marketing campaign could certainly lead towards lost business. Remember, there is a very good chance that your competitors will have a website.

The subscription or development cost of your website can have a very large range depending upon the features. You should expect to pay $30-50 per month for a web design service provider that uses pre-designed templates you can edit. On the other extreme, you can pay thousands for a custom designed site.

When selecting a domain name, it is suggested that you use a name that reflects your business and is also easy to remember

Although having a website can be instrumental to the success of your business model, it will be useless unless you can attract visitors to your site to see what you offer. There are many strategies you can consider to help direct visitors to your site, some of techniques are listed below:

– Have a reference to your website on all of your printed material and e-mails you generate as well as marketing giveaways you hand out like coffee mugs or pens.

– Write on-line articles for websites like e-zine.com where you contribute articles for free in exchange for an opportunity to discuss your expertise as well as what you have to offer. In addition, you will be able to provide a link to your website.

– Have your website listed on other websites as a link, you can have an agreement with the website owner to mutually display links to each other.

– Pay to advertise on other sites that have the type of traffic you are trying to attract. Usually, there is a monthly fee for this service or in some cases will be a “Pay Per Click” where you will be charged a predetermined fee when anyone clicks on the link to your website.

– There are many options to consider when developing your website from do it yourself templates where you just fill in the blanks to a full blown custom site. It is suggested that you speak with an experienced website designer to see what option is best suited for your needs and budget.

Tele-Conferences

A very popular marketing method is to utilize teleconferences to highlight the services and products that you offer to a large audience by speaking with them via a phone line. This marketing technique will allow your company to provide another vehicle for your potential clients to get to know who you are. The process of setting up a teleconference is very easy; there are many third party providers that offer teleconference services for either a flat monthly rate or on an as-needed basis. Once set up, you just need to provide the attendees with a dial in number and access code (given to you by the service provider) and they will call in at the appropriate time.

Webinars

To bring the benefits of a teleconference to the next level, you can consider reaching out to your audience using a webinar. A webinar is an opportunity for you to provide a presentation to your audience by accessing a web site on their computer. Two-way communication is also possible using a dial in phone number. Like the teleconferencing, a webinar can be arranged by a third party. The cost of this service will be determined by how many “seats” are required.

E-Mail Blast

An e-mail blast can be a very effective way to contact a large group of people on your mailing list. Depending upon how many people you are trying to reach, you can either send the mail through your own mail service like Outlook or if a very large list of people need to be contacted, you may need to consider the services of a third party provider. As you compile your contact list, it is recommended that you create “groups” within your mail program. By using groups when sending e-mail, you can easily fill out the “to” field by selecting the appropriate group you are trying to make contact with. It is recommended that you sort your address book into categories that make sense for your business model. Examples are as follows:

– Bankers and private money lenders

– Past clients you are trying to stay in touch with

– New prospective clients you are trying to conduct business with

– Tenants occupying your properties

Mail Merge

Mail merge will allow you to take your contact information from your Outlook (or equivalent) address book and add these contacts to envelop and form letters you generate. Although mail merge can save you a considerable amount of time in preparing mailed letters, it is not encouraged when preparing envelops for initial contact letters. Computer generated envelops look too much like junk mail and not even be opened.

Newsletters

Newsletters are a great way to keep your contact list up to date on what is going on in your company and to help attract new business. All of the popular word processor programs have templates that you can use to generate your own custom newsletter. When considering the use of newsletters in your marketing campaign, you may want to implement some of the following recommendations:

– Make your newsletter releases monthly or quarterly; you want to periodically remind them who you are.

– Add both business development information as well as education and public interest sections. Don’t make every issue overflowing with sales hype. You will turn off your audience.

– Give each newsletter a release number or volume

– Format the pages so they can be added to a three ring binder

– Publish articles that continue in a future newsletter

– Add photos and charts to help illustrate text

– Have featured segments that are part of each newsletter release. The following are some examples:

– Rehab trick of the month

– Bloopers sent in from audience

– Deal of the month

– Success story of the month

Using An Internet Video Site

A very popular tool that can be added to your marketing plan is to utilize internet sites that allow you to download videos. On these sites, you can download your video that will be part of the site database of searchable videos. It is suggested that you add in your title a “hook” that specifically identifies the scope of the video so when someone searches the site for your topic, you may get a “hit”. An example of this would be “Learn Short Sales from John Doe.”

Sales Lead Software

As your marketing and networking strategies start to generate leads, it will become an increasing challenge to manage the large volume of leads effectively. Without managing leads appropriately, you run the risk of losing the ability to “convert” them to a deal or sale. Although there are many manual methods that you could use to manage your leads, you may want to consider purchasing lead generation and management software. There are a number of companies that provide this product. Perform an internet search for available products.

Grow Your Business With The Digital Marketing Strategy

Whether you’re re-launching a product, starting a business, or strategizing a new digital marketing plan for next year, understanding the fundamentals of digital marketing is essential to your success.

For marketers at small businesses, solo-marketers or those working for a large corporate team, digital marketing tactics will help your organization get found online by the right people to attract, convert, close and delight with your products and services.

So What Exactly is Digital Marketing?

Digital marketing is an umbrella term for all of your online marketing efforts. Businesses leverage digital channels such as Google search, social media, email, and their websites to connect with their current and prospective customers.

From your website itself to your online branding assets – digital advertising, email marketing, online brochures, and beyond – there’s a huge spectrum of tactics and assets that fall under the umbrella of digital marketing.

Here’s a quick rundown of some of the most common assets and tactics:

Assets

Blog posts

Social media channels (Facebook, LinkedIn, Twitter, Instagram, etc.)

Earned online coverage (PR, social media, and reviews)

Online brochures and lookbooks

Branding assets (logos, fonts, etc.)common assets and tactics:

eBooks and whitepapers

Interactive tools

Being a newbie marketer, it’s obviously scary for you to rely on a new technology you’re stranger to. But, We are telling here four compelling reasons why you should dispense a part of your marketing budget for digital marketing.

1. It Helps To Pitch Those Who Are Interested

It propagates methods and solutions that help to target your customers on the basis of consumer demographics, behaviors, interactions and several other segmentation. Using paid search, you can create adverts that target those audiences who are affluent enough to buy your product. Though I won’t predict 100% percent success rate for paid search or PPC, the result it delivers will be better than the traditional methods you’ve used so far. If that interests you, choose any of the popular platforms like Facebook ads, Google Ads and Twitter ads to see your business grow.

2. It Helps To Find, Test and Evaluate

It helps you come up with a more effective marketing strategy for your brand. Even after execution of the campaign, you can measure its performance like that traffic it got and conversation happened using analytics tools such as Google Analytics and Facebook insights. From planning to performance reporting, the tools let you measure the results precisely.

3. Create, Change, Create, Change… and so on

Can you change a newspaper or radio advert if you notice ambiguity in the first place or feeling it weak enough to serve the purpose? Absolutely not. With digital marketing, you can do it. You can edit or rewrite a blog/ article or review written to promote a campaign even after getting it published. Similarly, the online ad campaigns made for Facebook and other advertisement platforms can be run, stopped, or modified at any point in time. So, the advantages are visible. Test your campaign and keep experimenting until you end up with the most effective marketing campaign.

4. It’s Interactive. Ask Feedback and Improve

Another benefit of having digital marketing methods on board is that you can begin and moderate two-way communication with buyers. Digital marketing enables two way communication with outer world and helps to gain insight how audience is responding to your campaign. For instance, marketers can participate in group discussions running across the social network groups & communities, and can discuss in detail about their products and services on offer.