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How to generate leads small business style 021510

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  • Small-business owners work an average of 52 hours per week. More than 80% of small businesses use some sort of financing to grow their business. "What is the single most important challenge that your business will face in the new calendar year?" #1 Answer – finding and retaining qualified employees #2 Answer – increasing sales/revenue/demand
  • In 2008, there were 29.6 million businesses in the United States, according to Office of Advocacy estimates. Census data show that there were 6.0 million firms with employees in 2006 and 21.7 million without employees in 2007 (the latest available data). Small firms with fewer than 500 employees represent 99.9 percent of the 29.6 million businesses (including both employers and nonemployers), as the most recent data show there were about 18,000 large businesses in 2006. Source: Office of Advocacy estimates based on data from the U.S. Dept. of Commerce, Bureau of the Census, and U.S. Dept. of Labor, Employment and Training Administration Estimated Population in the US As of 9 March 2010, the Earth's human population is estimated by the United States Census Bureau to be 6,807,300,000. [1
  • When talking about selling there are two primary models. B2B and B2C For example, Intel sells their products to other businesses. You cannot call Intel or go to their website to buy a processor. You must buy through a business that sells their product such as Dell or your local computer builder. B2C companies sell their product directly to an individual and not through a business. An example of a B2C company would be McDonald’s. You or I could go to a McDonald’s after this session to get an egg McMuffin. And some businesses like, Banks sell to both—businesses and consumers. Characteristics are the specifics about your ideal customers that make them unique. Things such as industry, revenue, employees, title, age, sex, etc. Two methods to finding the characteristics: Profile your ideal customers Use your intuition
  • When talking about selling there are two primary models. B2B and B2C For example, Intel sells their products to other businesses. You cannot call Intel or go to their website to buy a processor. You must buy through a business that sells their product such as Dell or your local computer builder. B2C companies sell their product directly to an individual and not through a business. An example of a B2C company would be McDonald’s. You or I could go to a McDonald’s after this session to get an egg McMuffin. And some businesses like, Banks sell to both—businesses and consumers. Characteristics are the specifics about your ideal customers that make them unique. Things such as industry, revenue, employees, title, age, sex, etc. Two methods to finding the characteristics: Profile your ideal customers Use your intuition
  • Outsell Inc. recently published a report putting out some numbers. Estimated budget for advertising and marketing in the USA 2008: $412,400,000,000 (yep, about 412 billion dollar To put things in perspective: The Iraq war so far costs the USA: $558 billion according to zfacts.com.
  • 106.5 Million Watch the 2010 Super Bowl 30 seconds of advertising time during the 2010 telecast is expected to cost US $ 3.01 million
  • Transcript

    • 1. 2 How to Market Small Business Style— Low Cost with a Focused Effort
    • 2. Life of a Small Business Owner We Work a Lot We Are Leveraged We Must Always be Recruiting & Selling
    • 3. … ..How Much to Invest in Marketing … ..Their Target Customer … ..Where to Invest in Marketing Successful Companies Know…
    • 4. 29.6 Million US Businesses 30 4,059,724 Million US People Do You Know…..
    • 5. Versus Business to Business (B2B) Business to Consumer (B2C) … Your Target Customer? Characteristics Ideal Customer Characteristics Ideal Customer Ideal Customer Profile Ideal Customer Profile
    • 6. Find Out How Many Exist Business to Business (B2B) Business to Consumer (B2C) 2,449 Business 9,050 People Ideal Customer Profile Ideal Customer Profile Get Counts Get Counts
    • 7. $412,400,000,000 Estimated USA Advertising & Marketing Budget Do You Know…..
    • 8. … .How Much to Invest in Marketing? XX% of Revenue TOO GENERIC: YOUR BUSINESS IS UNIQUE
    • 9. Determine Prospect Lifetime Value (PLV)
      • Step 1: Calculate the Customer Life Time Value (CLV)
        • Average Sale Per Customer
        • Number of Times a Customer Buys Per Year
        • Average Number of Years a Customer Buys from You
      • Step 2: Estimate the Acquisition Rate
        • % of Targets That Will Buy From You
      • Step 3: Calculate the Acquisition Spending
        • Add up all costs for the marketing effort (design, writing, delivery, offer, etc) & divide by the total audience
      PLV = Acquisition % * CLV – Acquisition Cost 10% * $1,500 – $100 = $50 100 *5 *3 = $1,500 $10,000 /100 = $100
    • 10. Forecast The Required Demand
        • Assumptions
        • 35% of Targets will Demo
        • 45% of Demos will Close
        • $50 Average Unit Deal Size
        • 2.5 Units per Account
        • 3.5 Years per Account
      635 Targets to Achieve $150,000 in Revenue
    • 11. Awareness Knowledge Liking Preference Conviction Purchase Buyer Readiness State Telemarketing Direct Mail Search Engines PPC Web Ads Trade Shows Email eNewsletter Web Site Choose Your Tactic Wisely
    • 12. … ..Avoid Spending Too Much on Marketing … ..Determine Your Target Customer … ..Allocate Your Marketing Investment Now You Know How To…
    • 13. Resources
    • 14. Thank you Questions