The present economic recession and the plunging consumer demand is having a huge impact on small business. It comes at the very same time a revolution has been well under way in how consumers do business. With the rise of internet commerce and social media, consumers exert more control over their buying decisions than at any other time. As a result, the traditional marketing channels and methods, i.e., newspaper, mailers “spraying and praying”, tv, are becoming less effective in compelling customers to choose your brand.

Because of the decline of brand loyalty owing to a competitive marketplace awash with consumer choices, small businesses are under more pressure than ever to improve customer satisfaction and retention.

At least part of the solution lies in the power of capturing client data, observing buying patterns and establishing an ongoing personalized and relevant marketing experience that has been honed through analyzing and acting upon customer feedback.

This is proven time and time again, through the growing number of success stories that show a strong correlation between an increased focus on customer feedback as a strategic imperative and an increased customer retention and activity.

By implementing, with the right technologies, marketing strategies based upon increased knowledge of customer buying habits and preferences, one can only expect to enjoy a very positive business outcome: Your customers will stick with you and increase their frequency of purchasing.

Up until now, these strategies and tools have only been available to the Fortune 500’s and the large franchises. No one has been able to develop a similar package that could be implemented, affordably, for the independent small business.

Enter KM Marketing Services of Northern Virginia. We focus on local, independent businesses and provide affordable marketing solutions for an ever increasingly competitive consumer marketplace.

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A well-run business is one with systems and procedures. One vital area where a system and procedure is essential is the are of marketing one’s goods and services.

Marketing defines how the client should think of the product by showing how that product is relevant to their needs. There are many theories of the amount any business should devote to the purpose of marketing one’s business. Each business must find the balance that works. So much, of course, depends on the type of business, product or service. Each market is different and has its own rhythms. A ballpark figure is 5 – 7% of net sales should be turned back to the purpose of marketing to future clients.  Typically though, many small businesses estimate their sales revenue, cost-of-goods, overhead and salaries, and then gross profit. Whatever is left is used for marketing support. This is not the best marketing plan.  A more simple approach for determining your marketing budget is to figure the amount your main competitors spend on marketing and use that as a basic standard.

In running a business, of all the areas that requires, patience, consistency and a systematic approach, marketing is at the top of the list. It is sometimes a challenge to decide what works best because most productive methods take some time and effort before they show results. . .it is like the cracking of a whip or the striking of a ball. The most solid blow is delivered after the weight has shifted past the target. The actual hitting of the ball is the last element in the process of delivering a powerful swing. Marketing is similar and many times people will give up on a method right before the powerful blow is delivered. Marketing is usually one of the first things cut back when times are tough. Read more…

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A great article from vertical response: here

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There is a lot of discussion about the merits and liabilities of the free market and of socialism. A cursory glimpse of the argument centers around a few key issues. The strength of the free market appears to be that the most talented and capable individuals within a free market society can achieve standards of success and rewards that are boundless. The free market is characterized, as a result, by various strata of people based upon economic achievement. The upswing in the free market is that the individual is free to achieve and acquire unlimited wealth. The rub against the free market is that, in establishing various strata of upper class, middle class, and lower classes, it contributes to a distorted vision of human value, it promotes individualism, then licentiousness and greed. From the perspective of the socialist, a view that perceives all material as finite and static, the capitalist is hording a disproportionate amount of material and the services needed to sustain it, thus, limiting the opportunity for the “have nots” to advance out of their lowly state. Read more…

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There are a ton of ways to get people to sign up for your email marketing offers. I’ve put together a list for you to read, so you know all of the ways you can be growing your list.

1. Put an offer on the back of your business cards to get people to sign up for your newsletter.
2. Tradeshows – Bring a clipboard or sign-up book with you to tradeshows and ask for permission to send email to those who sign up.
3. Include a newsletter sign-up link in your signature of all of your emails. Read more…

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Customer Retention marketing is a tactically-driven strategy to keep relationships with customers going and increase customer interest. This strategy relies on the study of customer behavior. Here are the basic tenets of a marketer that seeks to increase customer retention:

1. Past and Current customer behavior

This is the best predictor of how customers will behave in the future. They are the characteristics marketers should most often look at. Analyzing customer tendencies and trends allows the marketer to anticipate, if not predict, the customers reaction to different situations. The marketer must take note that behavior is action oriented, not a description. For example, being a 35-year-old woman is not a behavior; it’s a demographic characteristic.

For example if you know from history that customer A is likely to make a purchase if presented with a discount promotion, then you might want to change your marketing tactics to include promotional selling when approaching this customer. A great deal of observation is needed if you desire to predict your customers’ behavior. This involves a great deal of notetaking as well as watching what reaction the customer has to different situations. Read more…

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