The Isolated Entrepreneur

According to a 2006 Wharton School of the University of Pennsylvania study and a 2006 study by BIGResearch:

• Over 50% of consumers feel that customer service has gotten worse.
• More than 50% of consumers who had a bad experience with one salesperson felt it reflected the service at the whole store.
• More than 50% of consumers say they will not patron a store based on a negative experience of a friend, relative or colleague.
• 31% told someone about their bad experience.
• A person tells an average of 4 people about a bad experience.

Sources:

• “Customer Conversion, the New Customer Service” by Yalinda Moore of NACS, Inc. 2/2/2007.
• “Frustrated with poor service?” by Ryan Schuster, The Bakersfield Californian, 4/14/2007.

For those businesses that use trade shows to make sales, take a look at NASE’s new Success Skill Seminar, Can a Trade Show Boost Your Business.

If you attend trade shows as a participant, you might currently make travel arrangements and then forget about the show until you get there.

If there is a specific goal you have in mind, you might want to do a little preparation.  (Many of these activities can be done by an assistant.)

There is something you an do besides obtaining a list of vendors and speakers participating and circling the ones you are interested in.

For example, if you goal is to evaluate software that meets a certain need in your company, try to eliminate some of the vendors prior to the show by:

• Create a list of criteria the software must meet in order for it to work for you.
• Check out the websites of the different vendors.
• Contact the vendors and ask questions.
• Evaluate the software using demos.

Once you have eliminated some of the vendors, contact the ones that made it to the next round and let them know you are going to the conference.  Find out if you can setup a meeting to talk.

When you are on a limited budget, public relations is very important.

This is different from advertising because the goal is to publicize you and your company as an expert. Find the right audience.  Come up with useful information the audience can use and write the article.

Advertising your business is secondary.  If you build a rapport with the right people and newspapers, they will come to you with questions they may have and, hence, you and your business get written about.

BusinessWeek.com, “Effective PR on a Limited Budget” by Karen E. Klein, Smart Answers, April 9, 2007.

When it comes to personal correspondence, it can be difficult to write the greeting line on the envelope - especially when the wife keeps her maiden name or a relative lives with the family.

While researching the subject for my website, OfficeAnimation.com, I found differing opinions on what etiquette prescribes. Even Miss Manners says there is no one right way so as not to offend.

The best solution - ask and record. The way people want to be addressed is very individual, especially with women. Some care that you remembered to put Jr. or III. Others would rather you use their nickname or middle name instead of their first.

These personal preferences as well as knowing the name of a wife or child are all part of relationship building.

From a series of sources, I have put together some guidelines for addressing cards for holidays and special occasions. Read more…

Everyone knows that bad news travels faster than good - and it can really ruin your brand or professional image if not handled immediately.

Take the recent Dog Food Recall.  Many retailers took the recalled dog food off the shelves immediately and went a step further.  They proactively worked to inform their customers.

Competitors took out full-page newspaper ads to ensure consumers their products were safe.  Pet supply retailers posted notices, sent emails, and updated their websites in order to inform as many customers as possible.

Read MarketingProf’s “How to Deal With Crisis-and Defend the Brand” (April 10, 2007) by David Lemley of Lemley Designs.

Have you ever wondered what is the best font to you when you write a letter or create your stationary?

The Newspaper Ad Bureau of Australia published a research pamphlet that details what the best graphic design of printed material is.

• Times New Roman has a 92% comprehension rate; Sans Serif types like Arial - 59%.
• White printing on a black background - 0%.
• 80% will look at a vertical shape or graphic before a horizontal one.

Full Article: “Best Research on Graphic Design for Print - Ever,” Anne Holland, MarketingSherpa, April 2, 2007.

As a small business owner, the best way to expand is by letting your clients know you are looking for referrals.

But do you know enough about your clients to steer them towards the referrals you want?

The key is to learn as much as you can about your clients.

What organizations your client is a member of? Look for logos on their website and bumper stickers on their cars. Find out who the members of these organizations are.

Who are their vendors and customers? Who are their past employers? These connections can be your most lucrative because a long-term trust has been established.

When asking for referrals, be specific. “Do you know John Doe in the Chamber? Is it possible to introduce me to him?”

To learn more, read “Knowing Your Client’s Connections Can Increase Your Referrals” by Paul McCord.

Word of Mouth Advertising is the most affordable advertising used by micro-businesses.

Join a local network group like BNI to get started. The initial investment is well worth the relationships you create with other local businesses - This is especially true if you rely on local customers.

For virtual businesses looking for clients in diverse market areas, look at online network groups like StartupNation and LinkedIn.

One of the best and cheapest techniques for getting new clients is letting the word out to your current clients and close vendors that you are looking for new clients.

It costs three to five times as much to reach new customers as it does to reach the ones you already have,” said Gene Fairbrother, lead business consultant for the NASE. “Offering discounts on subsequent purchases or sending small gifts to customers on their birthday can do a lot to make sure they keep coming back.” [ NASE Washington Watch, 1/10/07]

So keep your current clients happy. =-)