Blogging Offers Profitable Results for Small Business Owners

This is part one of the Expert Website Services Social Media Series

By Kevin S. Taylor, MBA

Many small business owners struggle with finding new, innovative ways to increase online exposure and improve their online positioning. The Internet is a dynamic, changing vehicle in which savvy business owners can do very well implementing and managing their own marketing strategies. However, in order to do so, one must continually learn and use the latest technological tools for personal and professional promotion.

The Internet has changed. The way people are doing business has changed dramatically in the last several months. Successful Internet marketers understand and embrace this new paradigm consisting of interactive collaboration. The old-style static websites relying on search engine traffic is essentially passé. Today, online consumers are looking for more content-rich collaboration rather than the older model website that was primarily static. This is what is referred to by some as Web 2.0 and the Social Media Revolution.

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By Dr. Ivan R. Misner, Ph.D. and Kevin S. Taylor, MBA

Word-of-mouth marketing is often considered one of the oldest and most powerful forms of advertising.  In fact, most business people understand that it works, they just don’t know how it works.  The rapid takeover of social networking as a way to spread the word even faster makes word-of-mouth marketing an imperative part of any business marketing plan.

Some people think word-of-mouth is something that “just happens” — like the weather — and they let it take its own course. But if you want to be successful at developing word-of-mouth for your business, you should be as organized and thoughtful about it as you are about other types of advertising and marketing.  In fact, if you take this approach, eventually, you can get almost 100% of your business exclusively through word of mouth!  The key to creating a successful word-of-mouth program as part of your daily activity, lies in developing a formal plan for systematically meeting people and cultivating relationships with them.  Here are 15 ways for you, or the sales people who work for you, to get your own word-of-mouth marketing program off the ground:

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By Dr. Ivan R. Misner, Ph.D. and Kevin S. Taylor, MBA

If you have little or no experience with referral marketing, it would be a huge mistake to jump into action without preparing yourself.  Getting people to pass you referrals is tantamount to achieving success with the referral-marketing process.  To do so, they must know exactly what you do—what product or service you provide, how and under what conditions you provide them, how well you do it, and what sets you apart from your competition.

You have to communicate this information to your sources in a clear and concise manner.  Obviously, you have to know the aforementioned yourself before you can effectively communicate it! It is important for entrepreneurs to have a clear vision for their businesses; you have to know what your motivation is, what your goals are and what you plan to accomplish with the businesses you start.  Equally important is your ability to share that vision with others effectively in a well-thought-out vision statement. This is especially true when you are cultivating relationships that you want to result in business referrals.

Before you map out where you’re going to take your business with a referral marketing campaign, pause and get a clear picture of where your business stands today.  Try to answer in simple terms, the following questions:

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By Ivan R. Misner, Ph.D. and Kevin S. Taylor, MBA

Many of my esteemed colleagues have recently indicated that their businesses are at risk of failure. Indeed, this is an endemic issue in times of recession. In turbulent economic times, the economy has an adverse effect on everyone. This recession is particularly difficult as the world is much more intricately weaved than in recessions of the past. We are in a global economy; thus, our economy has a global impact.

When the economy is slow, new business is harder to get. A bad economy; however, should not be an excuse for failure. Thomas Edison once said, “I have not failed. I’ve just found 10,000 ways that will not work.” In recessionary times, even the best laid plans need to be revisited. Indeed, a poor economic climate can successfully be used as motivation to grow your business even more! What can you do to build your business in a recessionary economy?
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By Kevin S. Taylor, MBA

The rate of technological change continues to increase exponentially. A couple years ago, I was known to say that everyone needs an e-mail address in order to conduct business with the entrepreneur of tomorrow. Yet, today, I find this statement to have some critical flaws.

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By Ivan R. Misner, Ph.D. and Kevin S. Taylor, MBA

Do you shy away at the very thought of networking at business functions? If you answered yes, you are not alone! Many business people and entrepreneurs get a bit uncomfortable when it comes down to walking up to someone and starting a conversation. Many others are concerned about getting effective results from the time they spend networking. The process doesn’t have to be traumatic, scary, or a waste of time. When done properly, it can truly make a difference in the amount of business your company generates. With the right approach, you can use it to build a wealth of resources and contacts that will help to make your business very successful.

Use the following Ten Commandments to help you network your way through your next business networking event:

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For decades, business owners have seen the many benefits of following up with clients by sending a quick thank you card or note after a meeting. Professional sales representatives are also known for listing important dates such as birthdays or anniversaries.  Today’s technology has taken this personal touch away from many business deals. However, one company has managed to use technology in an effort to help people literally reach out and touch their network of contacts.
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There is literally a ton of information on how to create really great 10 minute showcase presentations. In BNI, the best materials are truly free. For instance, Steve Goldstein, an Assistant Director in Las Vegas, NV has developed the “Post it Note Approach to Writing your 10 Minute” that you can download here. This provides a simple approach to planning and delivering an effective 10-minute presentation to your BNI group.
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Over time, even the most seasoned BNI groups can lose sight of the fundamentals. Obviously, one of the most important concepts in referral marketing is the referral itself. So, today I am focusing on the following 3 fundamental concepts. First, we need to understand what constitutes a referral. Then, I will review the proper way to fill out a BNI referral slip. Finally, I will discuss some important issues with regard to closing a sale that began as a referral.
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Networking must be a priority for your business. It should be mentioned, in detail, in your business marketing plan. It probably has a line item on your financial statements. It should; no, it must if you believe in the power of networking enough to be sitting in a BNI meeting.

As such, networking requires a strategy. Many people choose the beginning of the year as the time to develop and implement new goals and new strategies.
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Educational Coordinator Topic

People do not make buying decisions based on the features of a particular product or service. Buying decisions are made when the customer sees that your product or service will fulfill a particular need. If you want to educate your sales team then it is imperative to tell them what sets you apart from your competition. Let them know how you meet or exceed this need! Discuss the benefits of the product or service rather than its features!
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Educational Coordinator Topic

Dr. Ivan Misner has suggested four key activities that result in overwhelming success for many BNI members worldwide. It is important to note that people who follow these suggestions tend to receive a much larger number of qualified referrals as a result of their efforts:
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Every business owner knows that the economic conditions in the United States, and globally, leave little to be desired. After a year in an economic recession, almost everyone has been effected in one way or another. Even Expert Website Services has had to evaluate its strategic plan. As we enter 2009, my company has the same position it held one year ago … WE REFUSE TO PARTICIPATE IN A RECESSION.

That being said, this section will contain weekly updates regarding the rapid growth of Expert Website Services despite external circumstances. If anyone would like to learn how they do not have to participate in the recession, they can e-mail me directly; or, take a look at www.bnilasvegas.com for more information!