Posts Tagged ‘Tips’

Managing Sales Taxes

Numbers And Finance
If you’re in the business of selling products, it’s likely you must collect a tax on each transaction.  For small business owners, managing sales taxes can be a big headache.

For starters, the debate over online sales taxation is growing.  Last year at least nine states pushed bills that would require online retailers to collect sales taxes in states where they do business, whether or not they have a physical presence.  Discussions are also underway at the national level to have Congress close the tax loophole for online retailers.

In addition, audits are on the rise.  Businesses can open themselves up to potential fines or penalties if they are not transparent and accurate in tracking collections, creating and filing returns and paying the states.

Marketing On A Budget

YMarketing On A Budgetou too can drive sales without furthering your expenses. Consider the following tips to marketing on a budget:

  • Internet sales tools - spread the word. Keep costs down by using Internet sales tools like ClickBank, Facebook or Google.
  • Consider commission only sales staff. If you have a proven product or service, a bold brand and a good sales pitch, a commission only sales person could be a fit.
  • Customers are the best advocates. Your clients know your products and services best. Identify potential customers who can help and create a benefit program to give incentive for referrals.
  • Testimonials will always sell. Create an area on your website or social accounts where clients can shout out about their wonderful experiences with your company.
  • Getting involved can open doors in your community. You are your own best spokesperson. Take time to speak at a local event to build credibility for your company.
  • Hold an event of your own. If you are in a position to hold an open house for your company or host an event in your area, this is a great way to build a good reputation.
  • Press releases spread the word. If your hosting or sponsoring an event, launching a new product or even moving offices, you can publish a press release online to get the word out. With non-profit events, you may even find newspapers that will print your story.

Find the combination that fits your business best.

Photo Credit:  401K

Think Big, Start Small

We have learned to dream big and to go for our dreams.  These are important messages for a successful venture, but sometimes we get carried away and don’t give our dreams time to firmly take root.

I remember a colleague of mine dreamed of launching an annual online marketing conference.  He had a great concept and access to both the funds and the people to carry it out.  He planned a three-day event with speakers, workshops, and an exhibit hall.  Vendors signed up, facilities for a large crowd were committed.  Ads and articles appeared in the local paper and online.  Success seemed imminent.

But throughout the process several of his friends and colleagues (me included) had been skeptical.  We urged him to start smaller – maybe an afternoon event, to test the drawing power of his idea.

Our colleague remained undeterred.  He saw these naysayers as negative thinkers, small-minded folks who couldn’t grasp the potential of what was possible.

The day of the event arrived and everything was fabulous – except the attendance.  Those who came found it valuable, but the turnout was disappointing.  Vendors were upset, and the affiliating organizations were embarrassed.

Had he started small, none of this would have happened.  If he had compacted this event into one afternoon, the small crowd would have seemed large and the event could easily have led to a daylong event the following year with plenty of time for word of mouth and the promise of more to come to buikld on.  Failing so big damaged his efforts to do this again.

Lesson learned:  dream big, but start small.  Let’s go for our dreams, but let’s allow them time to grow into full blown success we envision.

Photo Credit:  sirwiseowl

How To Motivate Clients To Do The Right Thing

Carrot or StickAs business owners, we want our clients to stay with our company and to pay their bills on time, or even early. While you may consider penalties or the proverbial stick for bad behavior most of the time the true motivator for clients is the carrot.  Not to worry–that carrot is often inexpensive or even free.

  • Reward clients for paying on time and for staying.  If I want a late-paying client to pay on time, I would give him a bonus to pay on time. That’s more likely to give him an incentive to do it. For long-term contracts of a year and more, why not give 10 percent off your hourly rate?
  • Celebrate their success. If you learned that one client is a voracious reader and is marking his 10th anniversary with your company, then get him a first-edition book signed by the author. This will make such a good impression.  When your clients do something special in their volunteer work or achieve another milestone, write a note or otherwise highlight the accomplishment.
  • Combine a carrot with your follow-up invoice. When needed, offer clients a carrot along with a subtle reminder that payment is due. Here’s how that combination might work:

Have You Nudged Someone Lately?

As I was getting ready for work one morning about a year or so ago, I was listening to Good Morning America. They did a segment on the book “Nudge”, co-authored by Cass R. Sunstein and Richard Thaler. The book was written in hopes of making small, little behavior changes to help benefit those who have a hard time losing weight. The idea behind the book, according to Richard Thaler, is a nudge which he describes as any small feature of the environment that captures our attention and changes our behavior – tiny and painless cues that can influence people to make better choices

Now, how does nudging relate to marketing? Nothing is more frustrating than sending out a regular email campaign only to find out through your email provider report the number of high unopened emails and low click-throughs. This may be discouraging, but not to worry.  Even if your subscribers don’t open your email, its presence in their inbox leads to a solid impact on brand awareness and sales.  The act of influencing your audience through the understated impact of unopened emails is called nudging.   Here’s how it works:

  1. As the recipient scans her inbox, she decides what needs attention now, what can wait and what she’ll delete without reading.
  2. Even if your recipient doesn’t open your email, seeing your brand name in the “From” line and your pitch in the “Subject” line can influence her buying decisions. So, write powerful subject lines that encourage recipients to take action.

What types of “nudges” will you make with your marketing campaigns?

Photo Credit:  mindgraph

Free Sprint Phones with Plans | Thanks to CD Rates, Conveyancing and Registry Software