Twitter Tips for Business Tweets

"Twitter is quirky and annoying." Okay, I said it. But it's a necessary annoyance that businesses of all kinds are welcoming into their marketing mix - and it's FREE to use (at least for now). If you are going to give in (and you eventually will) and adopt a Twitter marketing strategy, here are some suggestions on what to "tweet" about.

First, you need to understand that Twitter is basically a mini blog limited to 140 characters. And if you don't know what a blog is by now, you are probably still using terms like "audio cassette" or "album". Get with the times!

So, again, "tweets" are 140 character text messages that you send on Twitter to people who are "followers". How do you get followers? By sending tweets that are either very informational or very entertaining. Annoying tweets (and there are millions of them sent every day) send your followers running for the hills.

For businesses, I suggest you use Twitter to convey information that your customers and prospects will find beneficial.

Conduct Research and Gather Feedback
Are you thinking about adding/discontinuing a product/service, changing business hours, moving to a new location, or making some type of change that could affect your customers? You could send a "tweet" asking for feedback. People who twitter are not afraid to give you honest feedback and share their two-cents.

Share News & Announcements
You can tweet news about your business. There are several newsworthy items you can tweet, including:

• Receiving an award


• Achieving a monumental business or sales goal.


• Announce the hiring of a new employee or the departure of one.


• Adding a new product/service.


• Television or Internet news story about your or your business

If there is something newsworthy, tweet about it. Don't forget to include links to the source (but remember that links are counted in the 140 characters).

Send Invitations
If you are going to host an event or participate in an event, use Twitter to invite people. If people need to register, send the invite and include a link to the registration site. Here are a few events you might send an invitation for:

• Open house


• Seminar


• Holiday Party


• Golf Outing


• Sales Event


• Fundraiser

But, remember that when you invite your Twitter followers, you are inviting everyone...if you have 2,000 followers and you offer free food...be prepared to feed 2,000 people plus their friends. If there are restrictions, let people know.

Announce A Sales Special
Airlines and restaurants use Twitter to announce deals. An airline might have open seats for a flight leaving tomorrow. A restaurant may have a seafood special and need to bump weekend reservations. Or a garden store may have a new shipment of plants and flowers they'd like to sell. I've even received tweets about discount tickets to movies and concerts. Make sure you announce that their is a limited number available and what the restrictions are so you don't make anyone mad. Some sales specials you may tweet about include:

• Last-minute deals


• Close-out/discontinued items


• Overstocked items


• Reservation availability


• Early-bird special


• New real estate listing


• Garage sale
  
• Ticket give-away or availability

Keep It Interesting
A lot of people who use Twitter are quickly learning that providing value by recommending their followers check out useful information is helping them become respected and increases the number of followers. Tell others about something you learned or discovered that might interest them, including:

• Websites


• Blog post
  
• Book
  
• Product review


• Online video


• Seminars/Workshops

Add Value and Increase Credibility
When using Twitter, businesses need to provide substance and value. Just telling people that you're "damned glad it's closing time" or that "It's time for a potty break" is not going to score a lot of points with followers. If you become a source and resource for information, then you will build credibility with an increasing number of followers.

When and How Often?
How often should you use Twitter. Unfortunately, the jury is still out. But many businesses post several tweets a day...or at least appear to. If you tweet, either schedule two or three times each day to send them or schedule them in advance. Yes, you can schedule your tweets hours, days, weeks, years in advance by using a Twitter compatible scheduling application such as Twuffer. You can find it at http://www.twuffer.com/. People who might appear to do nothing but hang out on Twitter 24/7 are probably scheduling their tweets in advance...or they have waaayy too much time on their hands.

Still Need Help?
If you are contemplating using Twitter (or any other social networking medium) for your business but still need some advice, then contact BTK & Associates. I'll be glad to work with you to develop your Twitter page and give you a strategy that you can manage based on your schedule. Visit www.btkmarketing.com, call 317.493-8964 or email me at brian@btkmarketing.com.

Thriving In Tough Times

Why is it that some companies thrive during a recession and others fail? Perhaps its attitude or the ability of some businesses to monitor their industry and plan for tough times.

Historically, 70% of companies survive a recession, 25% of businesses fail, and 5% actually thrive. But what we've been experiencing since mid-2008 and will continue to experience for the foreseeable future is different. We're seeing a higher percentage of businesses closing or fighting to survive.

As indicators continue to reveal problems in the economy, most of us expect the worst. We can no longer ignore it or expect someone to wave a magic wand and fix it today; especially when the media is reporting record stock market declines, corporate losses, massive layoffs, banks collapsing, and more.

The need for change, whether beneficial or not, looms large in the thoughts of many business owners facing uncertainty as the economic downturn continues. But the ability to respond to economic changes — separates the capable business owner from the rest.

While business cut their spending, marketing and product promotion are absolutely essential. I am often asked, “How can I effectively market my business on a smaller budget?”

One way is the Internet and Social Networking. It is an extremely powerful, yet cost-effective,
communication tool that when use effectively can stimulate sales growth, even in a recession. Just look at the number of business using Facebook, Twitter, LinkedIn and more.

Another key element for thriving in a recession is to focus more on customer satisfaction. When you give more value than you receive in payment, you are putting the customer first. This helps reinforce their decision to buy from you and builds customer loyalty.

To survive and thrive, you must be willing to change and adapt to your customers. Their mindset and buying patterns have changed...perhaps permanently. But when it comes to dealing with change, small firms have advantages over larger corporations. They can be flexible, react quickly, and readily respond. When you make a change in a big company, it's like turning a large ocean liner. Comparatively, small companies can turn on a dime.

Here are just a few tips I adapted and revised from the Kenmarc Company on coping with change that require a special focus, proactive plan and reprioritizing:

1. Increase the frequency of communications with existing clients. Listen for changes in budgets and proposed spending levels. Be aware of clients' perceptions of pricing and quality of work performed. Cross-sell and up-sell to your best customers being careful to reward them for their business.


2. Anticipate market changes. Stay informed about projected industry spending and purchasing trends.


3. Evaluate market opportunities. Explore ways to position services that meet perceived client needs.


4. Market and Promote. When everyone else cuts back and you maintain your investments in marketing and promotion, you may effectively double your exposure. You must inform prospects how your products and services satisfy their perceived needs. If they don’t know about you, they can’t buy from you, especially when the regain the confidence to spend.


5. Manage cash. Review existing collection policies for needed revisions and speed up procedures to increase collections. Offer incentives to pay early or on time.


6. Use resources effectively. Implement efficient methodology and eliminate waste and non-profitable areas. Get rid of “dead-wood” such as products/services that aren't selling or employees that don't help your business grow.


7. Ensure profitable operations. Lenders, buyers, or investors are not sympathetic to large losses incurred—even in difficult economic times.


8. Plan carefully. Prepare budgets and analyze ROI regularly.

By implementing these steps, while applying common sense management techniques, your business will not only survive, it will be among the 5% that actually thrive in a recession.

To learn more about how BTK & Associates can help your business market more efficiently, pleasee email me at brian@btkmarketing.com, visit our website at www.btkmarketing.com or call 317.493.8964.

Marketing your own business. Should You?

"The business owner that does his own marketing has a fool for a client."

Okay, that's not exactly how the saying goes. But this quote, often applied to people who serve as their own defense attorney in court, also applies to some business owners who try to save money by marketing their business without the help of a marketing professional.

I sat through a productivity seminar recently and we talked about how we often waste more time doing things on our own rather than paying someone to do it for us. My example was that I recently found myself up to my eyeballs in a new online email newsletter program that was very cumbersome to use. If I had just used the one I was familiar with, I could have done the newsletter faster and not spent two days trying to figure it out.

Among the other examples that people offered was a gentleman who hired a friend to do some basic drywall work in his home. His wife told him, "Watch closely how he does it so that you can do it next time and we don't have to pay." His response was classic. "Okay, the next time you go to your Ob/Gyn, I'd like to watch and learn so I can do it next time!"

Everyone wants to save money. But we are resigned to the fact that, in most cases, we just pay others to do certain tasks. Our car breaks down, we pay a mechanic. A pipe bursts, we pay a plumber. We have a toothache, a dentist performs a root canal. We pay a specialist because they have the necessary training, tools and techniques. They can do it faster, better and, more often than not, much cheaper in the long run. Just ask my wife how many times I started a "home repair project" and ended up paying more to have someone to repair my mistakes.

So, what makes some business owners believe they can market their business without help from a marketing professional? I recently had someone tell me, "Oh, it's just marketing. I can write a brochure or send a postcard. And my brother can design my website." And my favorite, "I'm not making any money so I can't afford to hire someone to do it for me."

It takes money to make money. Right? I attend numerous networking events and meetings. I watch the business owners interact. I see the business cards and/or brochures. I visit their websites. I hear the elevator pitches. And I can spot, without a doubt, which businesses do their own marketing...and are either really struggling or setting themselves up for failure.

When I meet with prospects and clients, I always ask what they've done in the past to market their business. They tell me what has worked and what hasn't. If something hasn't worked, it's usually due to one of these reasons:

• It was the wrong medium
• They missed their target audience
• They expected higher-than-average response rates
• They didn't have an attractive offer
• The execution was poor
• They didn't maintain frequency
• They didn't follow up the leads
• They didn't focus on cross-selling and up-selling to current customers

I've seen companies waste tens of thousands of dollars on marketing tactics. A marketing professional would have helped by planning, budgeting and making sure reasonable expectations were in place. And like a car mechanic, a marketing professional can fine tune a campaign to make it run more efficiently and analyze the ROMI (return on marketing investment).

So, unless you have a solid background in marketing and are marketing savvy, consider using a marketing professional. Even if its to bounce ideas off of or to seek advice before spending money on something that is not going to deliver customers, you'll be glad that you invested money up front rather than wasting a lot of money after it's too late.

To learn more about how BTK & Associates can help your business wade through all of the marketing muck and provide you with a sound marketing plan, visit www.btkmarketing.com or call 317.439.8923.

Exhibiting Your Business

You have a chance to put your business on display at a small business trade show or networking event. If you choose to participate as an exhibitor, you need to leverage that opportunity and turn it into a business generator.

In an earlier post, I discussed that I generally prefer to attend events rather than participating as an exhibitor. I am a strong networker and feel too confined standing behind a table. Besides, it's far more cost effective, in my opinion, to attend rather than exhibit. But if you enjoy exhibiting and want to build your prospect pipeline, there are things you can do to improve your response rate and get a better return on your investment.

Get a prime location
The front and back of the venue are undesirable. Register early and negotiate or pay for a key location somewhere in the middle or on an end. For first-come, first-serve events, it pays to arrive early and claim a key spot. Also, find out what the rules are for visual obstructions and noise. I've participated in some of the largest trade show events in the country and I appreciated that my neighbors could not obstruct my view, access to my booth or noise. If you feel that a neighbor is detracting from you, find a show manager and complain. If they don't solve the problem, ask to be moved or get your money back.

Invite people in
I don't like shows where people stand behind tables. I will often move the table to the back or remove it altogether. I want people to come into my space and out of the aisle. If you can get them to stop, you can have a deeper conversation and qualify them.

Keep it simple
You don't need to put all of your products on display. Sell yourself. If you sell insurance or pre-paid legal services and people aren't in the market for your product, they'll blow right past your table or booth. But, if you focus on selling yourself by making eye contact, greeting people and asking them what they do, they'll engage you.

Don't be a "Mr. Cheeseburger"
I worked a number of manufacturing trade shows for several years. There was one gentleman who was always at the same shows. His booth never had any traffic. Either he was in someone else's booth talking or telling jokes, or his was in his booth eating a cheeseburger or pizza. His appearance was sloppy and he always had grease stains on his shirt or tie. Hence the name we gave him..."Mr. Cheeseburger". Stay in your booth and be professional.

Business Card Raffles
DO NOT hold a business card raffle. If you are going to give something away, collect information that will help your business. I use a small entry form that explains that all information must be filled out to be eligible to win a prize. I ask for name, telephone number, business, email, website and mailing address. Then I ask them to check off products or services they would like to learn more about. Then I ask when they might be making a purchasing decision - now, 30 days, 60 days, 90 days or longer. I now have information that I can put into my contact management system.

Make them return to your booth or table
When I give something away, I always give away one prize every hour. I tell them I have a drawing at the top of the hour and that you must be present to win. I always get a crowd to gather just before the drawing. I draw an entry, look at it and say, "Before I announce the winner, I just want to remind you what my business is." I use this to give a 2-3 minute sales pitch. Then, I announce the winner. If there is no winner, I draw until I get a winner.

Promotional Giveaways
I'm not a big fan of handing out promotional items when I exhibit. But, if you are going to give something away, it needs to be something useful. As I write this, I can identify 14 items on my desk that I've gotten from companies at events. I have five pens, two coffee mugs, a thumb drive, a ruler, a couple of letter openers, a highlighter, a stress ball, and a floatable key chain. These are all things I use regularly.

Tag Team Approach
I've trained a lot of companies in trade show marketing. I always recommend a tag team approach. One person is the "scout" who engages people. The "scout" greets people and qualifies them. Once the scout determines that there is a fit, he/she introduces them to an "expert". The expert is the person/people who find out more about the prospect's needs and further qualifies the prospect. It's the expert's job to collect contact information and rate the quality of the opportunity.

Rating System
I rate every single prospect that I talk to. I use the A-F grading system. An "A" lead is one that I am confident will become a client/partner relationship. A "B" is a warm lead. "C" is a cool lead. A "D" or "F" are not worth following up.

Follow Up
Once the show is over, the work begins. You need to follow up every qualified lead. Sort your leads according to grade. Then, make immediate contact with the "A" and "B" leads while you are still fresh in their minds. Most people don't do a good job following up after exhibiting at a show or event. If you do, you'll be a step ahead of most of your competitors.

If you follow these simple tips, you'll be a better exhibitor and earn a better return on your marketing investment.

For more information about how BTK & Associates can help you become a better trade show and event marketer, visit www.btkmarketing.com or call 317.493.8964.

To Exhibit or Not to Exhibit? That is the question?

This past week, I attended a new "networking" event that debuted in Indianapolis. The purpose of this event was to give business owners, entrepreneurs and sales people a chance to peddle their products and services to each other and attendees. The question that I was asked by a few people that exhibited or attended this event was, "Do you think it's better to be an exhibitor or to simply attend and network?"

The same question can be asked about a chamber of commerce trade show event or small business expo you'd find in other cities. Are these events really worth it or are there better uses of your networking time and energy. It depends on what you are trying to accomplish. Let's look at some of the things you should consider.

Cost
How much does it cost to purchase a table or booth? They can range from $50 for smaller events to thousands for very large, multi-day events. You need to determine you overall cost of exhibiting and then calculate how much business you need to close from the contacts you make at the show. Let's say the table costs $200. Add in printing of sales collateral, signage, and promotional give-aways. I then figure in my time. Just for example, let's say you are an attorney that bills out at $175 per hour. If you have an hour of set up and and hour of tear down and the event is eight hours long, you've suddenly got almost $1,600 plus your other expenses...for a total cost of $2,000.

Location
Just like any other business, location is extremely important. Is the event easily accessible? Are people going to take the time to drive there? And, is there enough parking for exhibitors and guests? In the case of this particular event in Indianapolis, the parking was very limited and people who did park further away had to track through mud. And there were several cars that simply left because there were no parking spots.

Timing
When is the event scheduled? If it's during the weekday, are people going to be able to take time off from their jobs to attend? Will people actually fight noon time or rush hour traffic to make their way to an event? Personally, I believe small business trade shows are better attended if they are held on Fridays; psychologically they can finish their work week and attend an event without feeling the pressure our guilt of returning to work.

Exposure
Does your table or booth stand out? Every show has prime real estate. Where your table or booth is positioned within the flow of traffic is critical. If you are in the very front, people will often blow right by you. If you are located in the back, people may never get to you. At this particular event, I went through the same room five times before I finally found one of my vendors who was located around a corner behind a door. Her location was horrible.

Goals
What do you want to accomplish? For some people, they like standing behind a table all day and engaging in chit chat with people who stroll by. But it's kind of like fishing in the same spot all day in hopes of landing the big one that swims by. When you are exhibiting, you really don't have time to become engaged with other businesses or with many of the people attending. And let's face it, most people who exhibit have no idea how to effectively work their booth. But, I'll address that issue in another post.

Audits
One other VERY IMPORTANT thing to ask an event organizer is for an audit. If you invest $1,000 in an event and they sell you on the point that there is going to be 5,000 people in attendance and only 1,000 actually show up. Your cost per person went from an anticipated 20 cents to $1. That's an increase of 500%.

If the organizers are not able to produce an independent audit, then understand that their numbers may very well be inflated or include other exhibitors and workers. Ask for a list of attendees from a previous show or after the event. You are looking for the number of attendees. If they are proud of their attendance, they'll share it. If not, they've probably got something to hide.

Goals
The next time you have the opportunity to either exhibit or attend an event, you need to think about what you want to accomplish. Do you want to generate qualified leads? Do you just want to build your brand awareness? Do you want to form strategic relationships? If you don't have a clear goal in mind, then you are wasting time and money.

For me, I prefer to simply attend these events. My goal is to find potential vendors, business partners, and a few potential clients. But I never go into these events thinking I'm going to land the big fish. I don't need to invest a lot of time and money and have found that I am much more productive as an attendee. I've learned that I can build stronger relationships with both exhibitors and attendees in the days and weeks following an event simply by applying my networking skills.

For more information on how BTK & Associates can help you leverage your next trade show opportunity, visit btkmarketing.com or call 317.493.8964.

Don't let economy turn you into a "binge marketer".

"Binge marketing". It's a term that is bantered around in marketing circles. Simply put, binge marketing occurs when a company is in panic mode and suddenly realizes that it quickly needs to fill its pipeline with prospects. Sure, binge marketing might provide a sudden burst of energy now, but in the long run it will be more costly both financially and brand wise.

Conventional Marketing Practices
Before we understand how binge marketing works, we need to look at traditional marketing. Every successful business has a solid business plan that should contain a sound marketing plan within. That marketing plan is a road map for tactics such as branding, marketing strategy, advertising, public relations, and event marketing planned throughout the year. It should be realistic and manageable within the boundaries of the businesses financial and personnel resources. By following and executing its marketing plan, a company consistently keeps its brand and products in front of its customers and prospects, maintaining the pipeline and leading to successful up-sell and cross-sell opportunities.

And in that marketing plan should be a SWOT analysis that provides guidance should the company encounter a threat. But in most marketing plans, little attention has been given to the global economy. Just look at the banking and automotive industries and you see evidence how the economy snuck up on the giants and took them by surprise.

Binge Marketing Like Eating Disorders
Some marketing experts like to compare binge marketing to binge dieting. I prefer the comparison to binge eating. The need to binge diet means that you're all fat and happy and need to pull back on the food consumption. In my analysis, companies that don't have solid, consistent marketing plans are more apt to gorge themselves when suddenly starved for new business. It's no different than how we, as humans, react if we go a period of time without food. Our brain tells us we need nourishment and because we aren't sure when we'll get another chance to eat, we inhale our food without enjoying it. Our bodies don't get the proper nutrients and eventually we have health issues that are more costly and take more effort to correct than if we had only followed a sensible nutritional and exercise plan.

Marketing is no different. Marketing plans look good on paper and impress the hell out of bankers, investors and prospective employees. But when companies are healthy, it's easy to tell ourselves it's okay to pull back on the spending or to give the sales team a breather and let them manage the leads in their pipeline. Then one day that company looks in the mirror and says, "Wow, I look horrible!" The leads have dried up, our clients have moved on and nobody thinks about our products or services when they're ready to buy.

This triggers the marketing binge that usually begins with an emergency marketing and sales meeting. Panic sets in and the chain reaction starts. Marketing gets a plan together, Writers write. Designers design. Printers print. Media buyers buy. Mail houses mail. Web marketers do whatever it is they do. And as suddenly as it came...it went. Everyone's exhausted. People are loosing their belts and unsnapping the top button of their pants like my Uncle Roy and Aunt Doris used to do after a Thanksgiving dinner. Everyone's happy. Everything's good. But nobody got to enjoy the meal.

Economical Impact on Binge Marketing
As a marketing consultant, I am seeing more businesses and organizations shifting into binge marketing mode. I'm hearing things like, "Now is usually our down period anyway, so why market right now?" or "What worked for us in the past isn't generating business right now." Both of those are excuses. The fact is, nothing makes sense right now. Buying habits have changed. People are being more cautious and selective about the products and services they buy. More importantly, they want to buy from someone who they believe will still be in business six months or five, ten or twenty years from now then they need service or need to replace the product they have now. The rules of the game have changed. The winner is going to be the company or companies in your market space that are consistent and provide value and stability through this tough economic period, not those that sell out or appear desperate.

Pace Your Marketing for Healthier Results
When we binge market in our business, we really don't get to enjoy the experience and we create more problems. We over-indulge and can't process the business we generate. In the short term, we may generate a large number of leads that we aren't able to physically process in a timely manner. They dry up and evaporate. What we usually end end up with a few short-term clients who are in "buy" mode right now. Unfortunately, we miss the sales cycle for the other people who might buy next week, next month or next year.

Rather than binging when faced with a lull in the action, why not pace yourself.? Budget your marketing; that means both time and money. You'll better target your ideal market and maintain top of mind awareness for when your customers are ready to buy. You'll run a leaner and healthier business in the long run.

Admitting What We Don't Know About Marketing

Face it. We're stumped. Marketing our businesses in today's economy is a challenge and a mystery. And it's time that we all admit that we really don't know what works - even those of us in marketing & advertising.

Every day I talk with business owners, sales professionals, financial planners, and friends. And every day I hear one more story about a business that is in T-R-O-U-B-L-E. I have a good friend who has always done very well in real estate. He's got about 30 days before his money runs out. I have another friend who owns a manufacturing facility in northern Ohio. His only goal right now is to do everything he can to keep his workers employed. And when my financial planner calls, I feel the need to console him and keep him from jumping out of his first floor window.

CAN YOU SAY, "DENIAL"?
I've also talked with a lot of people who are in denial. They are the ones that when you ask, "So, how's business?" They respond, "Awe, it's great. We're busy as hell. In fact, we're turning work away." But, when I dig a little deeper, they reveal that it's not that they are any busier...it's that they've cut corners either in quality, personnel or, GULP!, marketing. And sooner or later it's all going to come back around and snap them right in the ass.

BEYOND THE COMFORT ZONE
But the ones that are going to make it through are those who are now inviting me in to take a look at their marketing strategies and processes. They openly admit, "We have a marketing problem...what used to be effective isn't working. We need to try something new but we don't know where to start."

To be fair and honest, I have to admit that I'm not really sure right now either. The economy has rattled and baffled me. So much so that I've actually got two books sitting right here in front of me that I haven't read in years - "Marketing for Dummies" and "The Complete Idiot's Guide to Marketing Basics". I'm just looking for something...anything that will help me give assurance to my clients. For me and my clients, it's back to the basics.

TEN MARKETING TIPS YOU CAN TRY RIGHT NOW
So, now that we all admit what we don't know about marketing...what DO we know? Here are some things you need to be doing right now to make sure you win the battle for top-of-mind awareness with clients and prospects:

1. DO NOT eliminate your marketing budget; be selective in the cuts you make
2. Make sure your website is functioning and information is current
3. Engage your current and past customers and reward them with discounts for repeat business
4. Start a referral program and give cash/gift cards to clients, friends, and family that make referrals. Make sure to tell everyone about the program via your website, voicemail, flyers, business cards, direct mail, etc...
5. Start a public relations/press release campaign
6. Join a networking group. Visit several and choose the one that's right for you
7. Get involved in online social networking sites like LinkedIn, Facebook, Plaxo and more.
8. Listen to your customers. Ask them why they do business with you and ask for their input on improvements you could make
9. Start a blog and write about topics related to your business - it's very therapeutic
10. Find time to get away from your business to spend time with family & friends

For more information on how BTK & Associates can help you reset your marketing strategy, visit http://www.btkmarketing.com/ or call 317.696.6734.