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How to Attract and Retain Customers


How to Attract and Retain Customers

This content from: Duct Tape Marketing

The title of today’s post mirrors the topic of discussion I am leading during today’s New York Times Small Business Summit for AMEX OPEN.

It’s certainly a big topic, but I love that attract and retain are used in the same setting because they are certainly linked arm in arm in a business that wants to build any kind of marketing momentum. In fact, you could argue, and I do, they are one in the same.

Far too often marketers spend all of their attention on the chase and the sale and not enough on the retain and remarkable experience. The funny thing is if you get great at the later, the former will take care of itself.

Actually, I’m not a fan of the word retain, it seems a bit like satisfy. The real magic is referral and that comes from something a little more over the top.

Here’s the system I plan to share today.

You attract by building know, like and trust:

  • You must know whom you are ideally suited to attract
  • You must be able to communicate a difference that makes you stand out
  • You must create content that addresses a need of a narrowly defined customer
  • You must advertise and generate word of mouth buzz surrounding your content
  • You must be in so many places and linked to so many sources that you are easily found
  • You must build a team of strategic partners, sponsors and customer champions willing to help prospects find you

You retain customers by focusing on repeat and referral

  • You must study every potential customer contact point and turn it into a remarkable experience
  • You must develop a customer orientation process as part of your lead conversion process
  • You must communicate fully, often and truthfully during transactions and service
  • You must build follow-up routines that include opportunities to share additional education, training and content
  • You must create a process that allows you to measure and communicate the value you product or service has delivered to a customer
  • You must stop what you are doing often and show appreciation fully
  • You must find ways to bring your customers together and facilitate building community for them
  • You must expect to receive a referral from 100% of your customers and help them bring value to others they would like to help

Accomplishing everything on the both lists above is the secret to success for any business, regardless of industry or geography – there’s actually nothing very hard about it, the key is intention.

If you intend to thrill every customer, you will attract and retain.

View full post on Small Business Marketing Blog from Duct Tape Marketing

4 Ways to Repurpose Content to Attract Links to Your Website

Link building is one of the cornerstones of SEO.  Essentially, the more high-quality material that links back to your website, the more clout your website gets in the search engines and the higher you’ll rank in the Google war for first-page placement.  The more one-way links from quality sources you have, the higher your website authority and the better your rankings.

It sounds great, but bolstering the amount of links  pointing to your site can be a difficult thing to do.  One way is to write high-quality articles with links pointing back to your site and submit them to article directories such as ezinearticles.  The problem here is the time that has to be sunk into creating these quality articles – either you have to write them yourself or pay somebody else to write them for you, and each one may only generate one new link.  This can be time-consuming or extremely expensive, and there are only a finite number of publishers who will accept your content.

Attract Links to Your Site

Another method for generating links is repurposing your old content and publishing it in new locations.  Taking past blog posts, articles,  news releases and whitepapers and  reformatting them can help spread your influence online, and create new opportunities to be found in places besides search engines.

Here are some tips on how to make that happen:

  • Turn your content into video. This isn’t nearly as hard as it sounds.  A great tip is to make a PowerPoint of your content,  add audio and then upload it to YouTube, MetaCafe, Vimeo and Viddler.
  • Turn your content into PDF. Try DocStoc – before uploading, create hyperlinks to your site within the document.
  • Turn your content into audio and upload it to podcast directories. When you upload it to the  podcast publishers you’ll be able to add links back to your website.
  • Create an infographic. This may be the most time consuming, but could be the most rewarding content play as this type of content is extremely popular at the moment.  Some examples: Cool Infographics and Infographic World.

Repurposing your old content and submitting it to third-party websites is a good strategy to increase your online presence.  Not only will it help you get more links, but it will also save you from duplicate content problems when other sites syndicate your content.

From Small Business Trends

4 Ways to Repurpose Content to Attract Links to Your Website

View full post on Small Business News, Tips, Advice – Small Business Trends

Foursquare Reaches Out to Attract SMBs

Well, hello there. Foursquare would like to remind small business owner that Yelp is not the only geo-location game in town. They’re still here. To help remind users, Foursquare has revamped its Business page to provide a step-by-step instruction guide detailing how business owners, brands, and even venues can use Foursquare to build awareness and attract customers. If you haven’t yet seem it, allow me to introduce you to the new Foursquare Business page. It will help break down everything you need to know about using Foursquare for biz and attracting customers.

The new Facebook for Business page does a good job differentiating about the two types of business owners who may use the service – Venue Owners and Brands – and offers different tips and recommendations for each.

As a Foursquare-using brand, the site will hold your hand to help you create a page, add tips, attract followers, learn about special badge criteria and offer information about how you can qualify for a Foursquare partner badge. As a venue, Foursquare will explain the different types of Foursquare Specials (Mayor, frequency, count, custom, regulars), how to discover specials, how to promote them, how to get venue stats and how to go about claiming your listing.

What I like about this new and improved page is that Foursquare really does a good job making something that could be complicated very simple and intuitive. And I think a lot of small business owners will appreciate that, especially those who have stayed away from geo-location services. There’s a lot of opportunity here to connect with users, but that doesn’t matter if SMBs aren’t sure how to use the platform. With this new guide, Foursquare does a good job here breaking down that wall and making sure they do.

It’s also worth noting that online-only retailers can also take advantage of the opportunities presented by Foursquare. You don’t need a physical location in order to get in, which is also made clearer here than previously. The guide also lets us know that we can expect a new tool to help business owners create a brand Page of their own, however, it’s not done just yet. In the meantime, anxious SMBs can build one manually by downloading this form and following the instructions.

While it doesn’t always get the same attention that Twitter and Facebook do, as a SMB owner you want to be aware of the opportunities presented by Foursquare even if you’re not ready yet to get involved. Last year John Jantsch of Duct Take Marketing wrote a killer post on the 7 reasons why small business owners should take a look at Foursquare and there are a lot of great truths to be found there. If you haven’t read it, I’d encourage you to.

From Small Business Trends

Foursquare Reaches Out to Attract SMBs

View full post on Small Business News, Tips, Advice – Small Business Trends

How “Investor Preference” Will Help You Attract Funding

“Back in the day” (late 1999) I was a part of an investor group that contributed $1 million for a 35  percent ownership stake in a startup technology venture that held a lot of promise (don’t they all?).  You can probably guess the next chapter in this story. The tech bubble burst, the NASDAQ dropped 65 percent, technology needs shifted quickly and our company’s outlook changed dramatically within about a year.

Fortunately, we had a great investment banker who was able to arrange a sale of the company and its technology to a public company out of Canada for $1.5 million USD.  Our 35 percent equity stake in the company would return only $525,000 of our initial investment, a 50 percent haircut in less than 18 months. Ouch!

That’s when I first learned about, and fell in love with, the concept of an investor preference.  Since then it has been a required part of any private investment I participate in. You will require the same after reading further.

Because of our “preference,”  we were entitled to the first $1 million of proceeds from the company sale and 35 percent of everything over and above our initial investment.  We realized $1.175 million of the $1.5 million net proceeds and were the only investors to earn a positive return on our investment in the company.

Given the difficult angel investment environment today, a preference is almost required from savvy investors.  The limitations of your preference are what the company will accept, and whatever you feel is reasonable protection for the risk you are taking with your investment capital.  Here are some fairly common examples:

  • 100 percent preference and 10 percent annualized return from time of investment
  • 100 percent preference and proportional share of additional proceeds (stated above)
  • 200 percent preference on investment amount
  • Full preference with an equity kicker if company has not been sold within 5 years

An investor preference is limited only by your creativity and imagination.  It is also a wonderful opportunity for entrepreneurs to create an offering that is more attractive to initial investors.  With early investors, a preference is a great way to reflect management’s confidence in (and fairness towards) future prospects for the company.

Raising angel money is a very difficult task. A well-constructed investor preference can help minimize investor risk in a creative way that helps attract startup funding.  There are a lot of variations, complications and opportunities when creating an investor preference, so be sure to do your homework and think through the implications for future financing rounds.

From Small Business Trends

How “Investor Preference” Will Help You Attract Funding

View full post on Small Business News, Tips, Advice – Small Business Trends

Marketing must adjust to attract top clients

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How Attracting VCs Online Can Attract Legal Headaches

attracting-vc-online-headache.jpgWith Foursquare landing $20 million in a recent venture capital funding deal, entrepreneurs are starting to ask, “Why not me, too?” Increasingly, they’re turning to internet sites to attract investors who otherwise might never have heard of them. But is that a legally prudent way to go?

Using the internet to interest VCs in your business idea can gain you a lot of exposure. But it can also ensnare you in a legal net if you’re not careful. There’s the need to balance the increased “eyeballs” with concerns about confidentiality.

Plus, not phrasing the post carefully could run your company afoul of the many state and federal securities laws. Listen to this podcast below as we talk to Robert Bertsch, Esq., co-founder and CEO of RaiseCapital.com, on how to handle these thorny issues.

 

View full post on Entrepreneur.com – Daily Dose

Payvment Lets SMBs Attract Fans With Coupons

Social media feels good, but bringing money and new customers into your business feels even better. Thankfully, a new feature from the Facebook application Payvment can help small business owners to bridge the two loves for a very profitable (and effective) solution.

Though you may not be familiar with it (I wasn’t), the Payvment app itself is not new. It’s been around since last year and allows users to build a retail store (or to connect an existing one) directly onto any Facebook page. Once you download and install the application, you can build a store directly onto your page to include all your products, photos, shipping information, categories, etc. [there’s a how-to video for those who need help getting started with Payvment.] Once you set up your online shop on Facebook, it will show up in a separate tab on your profile called Storefront where users can go to make purchases directly from your Facebook page. They can also leave the shopping cart open while they shop on other Facebook stores. It’s a new twist on that old, static shopping cart. Pretty cool, but that part isn’t new.

What’s new is the Facebook Fan Incentive feature from Payvment.

If you’re a SMB owner in social media, there are probably two things you’ve found to be true:

  1. Getting people to fan you on Facebook is hard.
  2. Coupons breed customer loyalty.

That’s where the new feature comes in. The Facebook Fan Incentive feature allows business owners to offer special promotions to anyone who becomes a fan of (or now “likes”, thanks to a recent change) their Facebook page through the storefront. Businesses can set it up so they’re offering either a specific percentage off or another type of coupon.

According to Payvment:

A new “Promotions” area has been added to your storefront admin that enables you to turn on the feature, then set a percentage discount you’ll offer just to those who are “Fans”. After this feature is enabled for your storefront, Facebook users are prompted to become a Fan of your Facebook Page to get special storefront-wide “Fan Only” pricing.

Payvment is also adding the ability to let users leave comments and reviews about your products to encourage others on your page to make a purchase. Page owners will have full control over the comments/reviews that appear and will have the ability to remove comments, if needed. Though, I’d be careful doing that. Angry commenters may simply take their complaint somewhere else and add more fire to it now that they’ve been silenced. Use the same best practices when managing reviews.

I think the new Payvment feature is worth SMB owners taking a look at. It’s the first real attempt we’ve seen to bridge relationship building with commerce, and it does so in a way that I feel customers will find “useful” instead of “invasive”. And because customers will be automatically prompted to become fans to receive the discount, it’s going to help SMB owners to naturally grow their networks and their reach to help better market to people. It’s similar to offering a discount to someone who signs up for an email newsletter, but you’re targeting people on a much more personal platform.

It will be interesting to see how users interact with the new feature and if they’ll accept commerce on a personal social networking site, but I’m inclined to think that they will. Payvment combines brand awareness with brand loyalty and creates a real incentive for why someone should join your Facebook page. As a small business owner, this is one to watch and get in on. It’s a hint at where social media could really be going in the future.

From Small Business Trends

Payvment Lets SMBs Attract Fans With Coupons

View full post on Small Business Trends