Expert Advice on "How to Recession Proof" Your Business -

You may not know that I'm a member - and big fan - of LinkedIn. When asked, I tell clients and colleagues that it's like "facebook for professionals." (And yes, I've found it an effective business tool - three of my most recent clients have come from referrals or direct contacts on LinkedIn.)

One of the most useful tools on LinkedIn is the ability to ask and answer questions. If you ask a question, you get free business advice - sometimes from people who are experts in their fields.

I'm going to give you some more ways of using LinkedIn as a business tool, but first I thought I'd start out by showing you one way to use it.

I'm writing an article about "How to Recession Proof" your business - and I wanted some new sources. So I asked for advice using the "Questions" on LinkedIn - you can see my question - and read all the responses - by clicking the link.

In less than a week, I got 18 answers - and several of them are so good that I'm sending emails to the writers, to interview them for the article. Other tips I'll be posting on this blog - and I may write a special report about it - I'll let you know.

But let's get back to you and your business.

Are you worried about the recession? Do you have a strategic plan in place for how you will keep your sales on an even keel - or even increase them? What's your marketing strategy for the rest of 2008?

Read the answer that I chose as the "best answer" (and let me tell you, it wasn't easy making that decision!) and see if any of Michelle Dunn's answers resonate with you:

If you plan ahead you can survive the recession with a positive outlook and some specific actions.

1. Invest in education:

2. Network and make contacts online and offline:

3. Follow the market: Read the papers or watch the news, know what is happening and stay on top of it.

4. Pay off debt: If you can pay off any debt, now is the time to do it.
5. Cut back on extras: Seems simple, but do you need all the bells and whistles you have on your business or home phone or even your cell phone? Do you need to get Starbucks twice a day? Can you bring your lunch? Can you carpool to work?

6. Build your online presence: With a website, blog, newsletter or articles.
7. Have your clients sign a long term contract or review their existing contacts and renew them or extend them.

8. Specialize in something: Make yourself valuable, employers are more likely to keep an employee who can do more than one thing.

9. Turn your hobby into a part time business: for example selling items on ebay.

10. If you don’t have to sell your home or any property, don’t. You won’t get top dollar and will end up losing money.

11. Update your resume now, just in case.

12. Learn more about jobs that are recession proof, industries such as food, energy, vices (tobacco), entertainment, medical services, debt collection, security or alarm services.

13. Don’t cut prices, but reward your customers: During a recession business owners may think that cutting prices will help them and their customers. Don’t do it. Keep your prices as they are but offer your customers a coupon or a rewards program, to reward them for sticking with you during tough times.

14. Build value: Offer a buy one get one deal or buy one get something at 50% off. This increases your sales, where someone might have only purchased one item, with a deal like that it seems almost foolish to them not to take advantage of the deal and therefore purchase more from you

15. Get in contact with past customers who have not purchased from you in a while, this can activate a dormant account and possibly create more sales for you.

16. Follow up on any new leads and all old leads: Call them and see if they have a need for anything you offer.

17. Offer Outstanding customer service: To keep your customers you want to give them more than what they pay for.

18. Aggressively work on your marketing plan: send out press releases, keep yourself in the eyes of your target audience during the recession.

19. Tighten or update and keep on top of your credit policy: now is not the time to extend credit blindly, and it is the time to collect from any customers that owe you money.

Want more? Stay tuned, because in my next post, I'm going to tell you how you can create your own strategic plan in under an hour!

Got a Complicated Problem? Look for Simple Solutions

I was reading Guy Kawasaki's blog "How to Change the World" and I saw this YouTube video that offers a really simple solution to what is a complicated problem. You can watch the video yourself here:

How to "Recession Proof" Your Restaurant

Okay by now we all know that the U.S. is facing a recession and no one is talking about how quickly it's going to be over with. In fact, it doesn't look like there are going to be any easy answers this time around.

We know what happens - when a recession hits, people start tightening their belts - they keep their wallets in their pants and they stop spending money on "luxuries."

One of the first luxuries for many people is eating out at restaurants.

So what are your plans for "recession proofing" your restaurant?

You might be tempted to cut back on your advertising or marketing. I think that is a mistake. (And I'm not just saying that because I'm a copywriter and I'd like to get your business!)

Well, okay, yes, I am a copywriter, and yes, I'd like to get your business. But I'd like to show you how you can recession proof your business without having to cut your marketing budget, throw lots more money into an advertising campaign that may not be working or spend a lot of time trying untested ideas that may or may not work. How?

I'm working with a friend and colleague of mine on that exact thing - in fact, if you're a restaurant owner who's looking for ways to recession-proof your restaurant so you build strong relationships with your customers, have them tell their friends about you - and bring people with them and spend less money on your advertising and marketing campaigns.

Sound good? Stay tuned for more information. (In the meantime, sign up for my free report - that will tell you what to do if you're making fatal mistakes with your marketing strategy right now) - and I'll let you know when the new report is ready.

Want a new perspective for your business? Take a Vacation

One of the things I love about living in France is the different attitude there is about "work" and "life." The French have a deep and abiding belief in the importance of taking a break from work and spending time enjoying themselves. (This is something that I can really get behind and it's one of my favorite adopted customs!)

We just got back from a week in the north of France - we visited the wine areas of Chablis, Champagne, Burgundy and Alsace. We also zipped over into Luxembourg for a day of exploring.

We explored vineyards, the champagne house of Mumm, the Midieval hospital of Beaunes and so much more...

But the best part is that I came back refreshed and energized - and with a notebook filled from front to back with marketing ideas for my clients!

You can do the same thing with your business - and you don't have to go to the French Riviera or the north of France to come up with your own marketing ideas - you just have to think outside the box for a bit.

For example, the first area we'd decided to visit was the village of Chablis. So that was where we spent the first night. We found a hotel in the Michelin Guide, and Alain called ahead to make a reservation. We'd been driving for several hours, and we were tired and ready to stop when we got there.

But - the price they quoted us was higher than what the Michelin guide said it would be. Not by much - it was only about 15 euros. When we checked in I pointed it out to the girl - who asked to see it in the guide and dutifully wrote it down. And then proceeded to charge us the higher price. Now 15 Euros is not enough to haggle over, but I have to admit, it left a negative impression with me.

Some of my impression was a little changed by the girl who was on duty - she was the desk clerk and doubled as our waitress. She was cheerful, friendly and gave us some great suggestions for things to see the next day. She also gave us a special card that would allow us to go to a wine shop the next day (it was also owned by the same man) and have a free wine tasting. We wanted to tour a vineyard too, and she told us to ask at the wine shop.

And the food was good, plentiful and a good price - and the room was large, clean and quite comfortable - so like I said, I felt better about the room rate not being honored.

But the next morning, when we went to the wine store, the woman who runs the store didn't seem to happy to see us. When we showed her our card and said we'd been guests of the hotel the night before and were interested in tasting the house Chablis. She merely pointed to a list on one of the oak casks that had been turned into a table - and said that's what was available - but her whole attitude was that we were really bothering her and she didn't want to waste her time.

And when we asked about the possibility of touring the vineyard, she flatly told us it wasn't going to be possible and that we'd have to find another vineyard to tour.

And to top it all off, we noticed that the prices of the Chablis here was more expensive - in some cases almost twice that of the exact same bottles in other stores. So after looking at each other (and doing that silent communication thing that couples do), Alain said that it was really too early for tasting wines and we left.

(And we went right back to the first shop we'd visited and bought another specialty of the area) - and bought a case of Chablis for our cellar as well as some to give as gifts and a couple of older bottles that we could drink sooner.

So what does this have to do with you and your business? Think of it in terms of your business brand, and the experience your customers have when they're buying from you.

From my experience as a customer, here are the problems:

1. The price in the tourist guide wasn't honored at the hotel. (I seriously doubt 15 Euros would have broken the owner - but it certainly would have gone a long way in giving us a better experience and impression of the hotel and his other businesses - which would have translated into us spending a lot more money than the 15 euros.)

2. Our experience in the wine store was a total failure. We were there to buy wine - and if we'd received even a little bit of special treatment (because we were guests of the hotel for example), the owner would have profited to the tune of a couple hundred euros.

3. Rather than thinking about the entire experience for the customers - the hotel, the wine store and a special tour of the vineyards - maybe something provided only to guests - we would have left Chablis as brand ambassadors - and would have happily told everyone we know about what a wonderful time and experience we had.

Instead, I'm left with a love for Chablis - and we plan on going back this spring - but we won't be staying at that hotel - or spend any money at any of the businesses owned by that particular company. We'll be going somewhere else.

So this is what I want you to think about...when it comes to your business - what kind of experience are your customers having when they're ready to buy your products or services?

And if you've got just one product or service right now - think about how you can expand your offering - and provide more to your customers.

The case of the hotel/restaurants/wine store/vineyards is a perfect example of how you can add on additional products or services to your current offering - here's how it could have been handled:

Customers stay in the hotel - and will probably eat in the onsite restaurant - and drink the house wines. The next day, they're invited to a free wine tasting - where again, you offer them a unique experience - and increase the opportunities for them to buy something else from you. If you time it right - and maybe offer an additional discount to the other restaurant - again - a bonus only offered to guests of the hotel - you have a good chance that your customers will decide to eat in your second restaurant - and again, drink your wines. After lunch, it would be a perfect time to offer a tour of the vineyard - and make sure they get to experience something extra or special because they're customers. (A special tasting or a discount if they decide to buy a certain number of bottles, for example.) And of course making sure that all the employees are dedicated to ensuring that the entire experience runs smoothly and works for the customers. How much more money would your customers be likely to spend? And what would they be likely to say about their experience to others?

Here's a suggestion - if your products or services warrant it, invite someone to be a "secret shopper" - and go through your purchasing experience. Check for customer service, your brand experience and the satisfaction level of your customers.

If you only sell online, buy from yourself - and keep an eye out for how you can improve the experience and what add-ons you could provide for your customers. (And let me know what you discover...)

Are You an Expert in Your Field?

When I'm working with a new client, one of the first things I usually do is a quick Google search to see what information pops up.

With some clients, I find lots of information, with others, not much. If there's not much information - or if there's not much information related to the client's new product or services launch - that's one of the first places where I start working with them.

Why?

Because 90% of the time - this is where your clients, customers or prospects are going to start looking for you too.

You need to be perceived as an expert in your field or industry.

Look at it this way. Let's say that you sell "financial services to baby boomers." If I do a search for that term (which of course isn't the terminology a prospect is going to use, but bear with me for a minute)...I find 459,000 Websites!

That's a lot of competition for a phrase that doesn't even help your prospects find you.

So that's actually where we start. We look at your particular product or service and we find all the features and benefits of it. And we do some research to find out what words your clients or prospects would use, if they wanted to find out more about it.

Of course, the trick is in finding the right words - and understanding how to put them to work for you.

Here's another example: I typed in "retirement planning" - and got over 14 million Websites. Think about that for a minute. What would your strategy be to compete - and get yourself or your company's name to the first page of Google, or MSN or Yahoo - for a phrase where you've got 14 million other Websites?

One way is to know what your prospects are looking for and what phrases they're going to be the most likely to use when they want more information about that topic.

And those are the keywords we use in our marketing strategy to help you start becoming perceived as an expert in your field.

And then we create a number of different ways for your clients or prospects to find you. Ideally, we want your name to come up again and again when they're looking for answers to their questions or for more information related to your specific product, service or expertise. That's how you become perceived as an expert in your niche or industry, and that's how you will begin to attract - not just MORE clients - but the RIGHT clients - who want what you're selling, and who see you as the only person who can help them achieve their goals.

YouTube Gets 12% of ALL Internet Traffic - Are You Getting Your Piece of It?

I was watching a video a few minutes ago and something the guy said stopped me in my tracks. YouTube is getting 12% of all Internet traffic. That's a whole lot of traffic.

And it made me wonder how many of my clients are taking full advantage of video and getting their piece of this traffic...

As I started writing this article, another question popped into my head...If I mentioned this to my top clients, what would their reactions be? (I'm not talking about my Internet Marketing Clients - most of them are already taking advantage of video in one way or another.)

When it comes to that particular niche, they almost always seem to be among the "early adopters" of technology. They used free reports and ebooks, blogging and podcasting before they became mainstream. And these days, getting information through video has made using free reports (with the exception of white papers) almost seem to be going the way of video tapes after the DVD came along...

If you've ever checked out YouTube, there are a lot of really strange and wacky videos floating around - but there's something for everyone. So how could a genre that features kids doing parkor stunts, or animals doing strange tricks, or people getting hit by kids wielding baseball bats, falling off of bicycles and being caught in public doing stupid things - have anything to do with a business making money?

Let me tell you about one of my clients. He's a real estate agent in Washington state. One morning as he was about to take his twin daughters to school, he got a call from a prospective client - who lived in New York. She was calling because her husband had just been transferred to Washington, and she wanted to find a Realtor who had videos of homes in specific areas - because her husband's company was sending them out for a week to find a place to live - and so she didn't have any time to waste driving all over the place.

He told her he had to run out the door, but to email him a list of the things she had to have in a house, as well as the things she would like to have, and her price range.

When he got back, he was thrilled to discover that they were looking for an executive home, where the commission rate would be significant.

He spent three weeks combing through homes that met his new client's requirements and then visiting and videoing them. He found 8 - and uploaded them to his Website. She liked three and he was able to show her all three in one day when the couple flew out a couple of weeks later.

His client liked the 2nd house - and that's the one they made an offer on. (It was accepted 2 weeks later.)

That's just one example of how video can be used in a real business. How could it help yours?

What's Your Value Proposition?

Do you feel like you're struggling in your business? Are you having a hard time getting your foot in the door to see potential clients?

Do you feel like your marketing efforts are lackluster or ineffective?

If someone asks you who you work with, or who your idea target market is - do you have a strong and clearly defined answer - or do you spread yourself too thin?

If you answered yes to any of the above questions, chances are the biggest problem is your value proposition. (Which is different from a USP or Elevator Speech.)

So what is a Value Proposition? My favorite definition comes from author Jill Konrath, author of "Selling to Big Companies." She says, "A value proposition is a clear statement of the tangible results a customer gets from using your products or services. It is focused on outcomes and stresses the business value of your offering."

But creating a strong value proposition isn't always easy.

You have to define your target market, yes. You have to be willing to change your message of "working with anyone" and you have to be able to describe - in the words your target market uses - and understands - what your expertise is, how you can help your prospect's business (or if you work with consumers - how you can help them achieve their personal or financial goals) and what difference you will make.

Your value proposition has NOTHING to do with differentiating yourself from your competition by the way.

A value proposition should be financially oriented. It has to focus on whatever the most critical issues your prospect is facing and it has to be specific. (This is where you want to include statistics, percentages and other numbers. For example, give results other clients received from working with you.)

Need help? Behind the Lines Copywriting can help you create a strong value proposition to use in all your marketing messages.

Marketing Life Lesson #1: It's not polite to interrupt.

I realized a long time ago that my mother taught me many lessons that I try to live my life by. Today I realized that she also taught me some valuable lessons about marketing - and from time to time, I'm going to share them with you, because they'll be just as valuable to you.

So here's Mom's Marketing Lesson #1: It's Not Polite to Interrupt

Remember when you were a kid and you'd get so excited about sharing a story or adding to the dinner table conversation that you'd just jump right in and start talking? And your mom would tell you that it's "not polite to interrupt?" Well, it's even more important when it comes to your online marketing messages.

If you're interrupting your customers' work or lives with your marketing message - STOP IT RIGHT NOW!

Let me give you an idea of what I mean. In one of my email accounts, in the last 3 days, I've gotten 327 emails with subject lines like this:

This FR33 System Will Infect You with the $$$ Plague

Save More On Quality Advertising JAN ONLY!

Web 2.o Secrets Revealed

Do You like Video How To's Cheryl?

To People Who Want To Produce An Income From Home- But
Can,t Get Started!

And by the way - as headlines go - these really aren't bad. I'll go into what makes a good headline later on - because what I want to focus on is your marketing message itself. The problem I have with each one of these messages is - none of them are targeted to me. Not one of these advertisors has taken the time to find out what I'm looking for, or to ask me what I want. None of them know what my business is, or what my goals are. (I didn't bother to opened any of those messages - because they were just interrupting me and keeping me from my real goals. They just got sent to the recycling bin.)

So What About You?

When you're sending out your marketing message, are you sending valuable, interesting content because you understand what makes your prospects tick - or are you just ticking them off by sending another advertisement?

How much honest-to-goodness understanding do you have of your target market as it relates to your product or services?

Do you really know what they're looking for? Have you taken the time to listen to what they're already saying about your brand? When is the last time that you paid a visit to "where they're living" online?

If you've been sending messages with a main goal of trying to "sell" your product or service - then you're interrupting your prospect - and so you shouldn't be surprised if you get treated like a door-to-door salesman - and your message is ignored, or worse, gets marked as "spam."

Whether you're sending traffic to a lead generation page, you've rented a list or you're sending messages to your current and past customers, you should be taking the time to figure out ways that you can help them enhance their current experiences rather than interrupting them.

How do you do that?

By offering them valuable information or services related to what they want as it relates to your product or service.

If you're promoting health products, for example, then what about creating a series of "how to exercise correctly" videos? Or do a product review in your newsletter each month, about the latest alternative supplements, exercise equipment or diet program?

Although I hesitate to use the phrase "value-added" (because it's turning into another one of those meaningless buzz words) - you should develop a strategy to provide lots of value for your prospects and customers. Make giving them what they need your priority - and what you're selling secondary to that - and you'll start making more sales, more often and your customers will stay with you longer.

In fact, I predict that this is a trend that's going to move to the front of the pack in marketing and advertising circles this year. I'm already seeing some of the biggest companies exploring their inner Web 2.0 marketer this year - one good example comes from a New York Times Article written about sports shoe giant Nike.

I'm curious what your view is about giving more to your customers...Let me know what you think...