You should Spend your money on building Realtionships that builds Sales in your community.

You should not Advertising! You should Spend your money on building Realtionships that builds Sales.

Let's do a reality check. Look at your list of customers and work out how many sales came to you from relationships and how many from advertising?

Let's not count specials, discounts, sales? You don't get long times sales from these activities. Are they always looking for sales and not a real valued customer, so removet hem from this reality check. Note: when you spend money on adverting sales count the costs for creative and placement of these ads.
Now look what you are spending on building on realtionships - Getting SALES. This is difficult area to measure. In the past this number in larger business is around single digit %'s.

The marketing world seems to upside down. Spend 98% on promoting your business and spending only 2% on relationships - acquiring sales. I am a Relationship Marketing specialist on showing how to build relationships and how to get more sales.

Can you afford to spend your money on raising your interest and curiostyI have As a fellow entrepreneur, you are probably wrestling with the challenges of the current business climate. Your customers have postponed projects. Your hot leads are less plentiful. Your bank account is strained.
You are not alone. But what differentiates you from others is your ability to make smart choices, prudent decisions, and cost effective initiatives. Some of my colleagues and I have shared a few ideas on how to thrive during a recession. So I thought I would pass on some simple ideas on how to succeed.

STICK WITH YOUR CORE OFFERING When business wanes, it is tempting to try something else, to introduce a new service or offering that is markedly different from your core business. But consider this. Would it really be any easier to convince someone to purchase your new product or service than it is to convince them to buy what you already offer? Probably not. You have a strong reputation; you have a unique offering that is valuable to your customers. You have spentyears perfecting your business model. So stay on course. You provide great value – you just have to be patient while your prospects come around to realizing the same thing. Ifyour customers are planning to go bankrupt, then drop them. But most aren’t. Most plan to grow sometime soon. Then be there for them when they do.

TAKE TIME TO PLANTime study research we have done on entrepreneurs shows they spend nine hours per week on forward-thinking activities such as market research, new product development, marketing planning, and team coordination. Also included in this is time spent each day planning their schedule, updating appointments, and figuring out whom to call. Invest the time to look towards the future, and the future will arrive with success. Make a to-do list each day consisting of items you can actually complete, not just stuff you will “work on.”

INVEST IN YOUR BUSINESS At any time during the business cycle, growth-oriented companies should invest in three major areas; a) research and development, b) marketing, and c) human resources. As an entrepreneur, you should do the same, but without spending massive amounts of money. To get into R & D mode, conduct some customer research; or complete a survey of current practices so that you can write an article. Meanwhile, create a price list for new services that you have always wanted to offer and that are consistent with your mission. Then, invest in marketing. This starts with understanding what drives your marketing machine, whether trade shows, demonstrations, centers of influence, referrals

Know what works, and do more of it, not less. Spend on marketing. Update your web site. Send out a newsletter. Attend a trade show. Just don’t cut back.As for HR, how about upgrading your own skills? Or developing strategic partnerships?Become a virtual company – don’t hire staff, hire team members on contract. And bring on a virtual assistant to let you focus on the most important aspects of your business.

STAY IN TOUCH Find ways to stay in touch with your customers and prospects. Be empathetic, not pushy.They have enough people chasing them for their business.... www.opinionnaire.ca mrbob@mrbob.ca