Easy Does It Marketing

I have recently encountered a number of people striking out on their own to make a living. As they begin their entrepreneurial journey, I have seen a number of approaches to making it work and thought that it might be helpful to share a few of the choices that seem to be helpful to these business newcomers. Please keep in mind, though, that these suggestions are based on a broad brush approach. Each type of business has different needs to address on the road to success. What a retail business needs to gain dedicated customers is very different that what a new plumber needs to get going. As you scroll through these suggestions, please keep in mind the kind of business you are building and whether these things REALLY fit your business model. As has been stated before, every penny counts when you are getting started. Spend the money on the things that are most likely to give you a return on investment. As your business starts to boom, you can add more wish list items to your expenses list and watch your dreams come to life!

Develop a company logo. It does not have to be flashy and you don’t have to spend a ton of money on it, but creating a logo for your company will help convey to potential customers what services you offer, as well as set you on the right track to develop marketing efforts. This logo can and probably should be used on as many pieces of company correspondence as possible to build continuity for you business. Think about it this way – if you are searching for a company to fulfill a shopping need, are you more drawn to those with logos or those without? My guess is that like most people, the presence of a logo helps to lend some perceived solidarity to the company you are checking out making you feel more comfortable that they are legitimate and safe for you to do business with. (If I am wrong, please leave a comment below and let me know how and why!) One last thing to note – if you are hiring someone to create a logo for you, have them make several versions in various sizes. The logo size needed for business cards and checks is going to be different than that required for advertising and other larger scale items.

Logo applications you should consider include business cards, letterhead, envelopes, business checks, websites, social media outlets and advertising. Before you get overwhelmed by all the places you need to stick a logo, take a deep breath and review which ones are REALLY going to be used in getting your company up and running. If company does not write a ton of checks or send loads of letters, you might be able to hold off on logo imprinting for these items at first. I would strongly suggest adding it later, though, as it will help to create visual continuity for your branding efforts. Is your company primarily web based? If so, your concerns with logo application should consider the needs for a website, blog, social media and PPC advertising efforts. For businesses on the go requiring a lot of driving to customers, you may want to investigate the magnetic signs. Yes, I know they are a bit old school, but until your company can afford those super cool vehicle wraps, this item can offer some basic mobile advertising without busting your start up budget.

One item that I would suggest for ALL business initiatives regardless of their direct or indirect contact with customers is the business card. You never know where you may meet your next big account and not having something as simple as a business card to hand out could cost you loads of potential revenue. They don’t have to be super fancy, just an efficient way of communicating your business and contact information so that they can check you out. Of course it goes without saying that you will want to get their card, too!

Again, keep in mind what your business goals are right now and spend your marketing money accordingly. As your company grows you can upgrade your efforts and add from your marketing wish list to maintain your business momentum. There is a reason that some small businesses last and others do not – those who stick around longest usually started with the basics and waited to get fancy until they had money rolling into their coffers.

The Simple Approach

I have heard rumblings for a while now that as the economy continues to cut people loose from their usual jobs more are considering the path of entrepreneurship. While I am in full support of small business and striking out on your own I have also seen people get so wrapped up in the excitement of the idea that they overlook the effort required to make it work. From my vantage point, the people who have taken the simple approach while steadily working to achieve their business goals are the ones who tend to stick around the longest. Those who spend the majority of their time concerned about the style of the stationary rather than the number of customers tends to experience a shorter version of entrepreneurship.

With that said, for someone just getting started there are so many things to consider and many more pieces of paper to fill out, file and organize. Trying to also juggle the details of marketing pieces like logo design, business products and accounting can make the process a bit overwhelming. How can you make this process simpler? The first thought that comes to my mind is – delegate! Be aware of your budget constraints, but also remember that no one is an expert at everything. If graphic design is not your thing, find someone who can design your logo and letter head for you. The time you save wrestling with the software and cursing your non-artistic genes will allow you to focus on other areas and focus on the making money part of things. Of course, this theory also holds true for accounting and marketing efforts.A big part of entrepreneurship is wearing a lot of different hats, but no one ever said you have to wear the expert version of each hat. As things begin to come together for your business venture, consider where your talents lie and where you could best use someone else’s talents to keep your company growing. Leverage your time with the skills you can afford to outsource and then reach for the stars!

With respect to office supplies – I might suggest starting simple and upgrading later when you have the funds and the need. If accounting makes you a bit uncomfortable, consider a one-write system to help you keep track of your check writing. When your needs outgrow this tool you can upgrade to a software program or an employee to handle the new level of need. In the time between you will keep money in the company coffers while still meeting your immediate needs. When purchasing business checks and envelopes, look for a supplier that offers inclusive pricing – and perhaps free shipping! If adding your logo is an additional cost and you don’t absolutely need it for credibility, save the money and get the basic version to get you started. Your forms will still look professional and you can upgrade later when the money is flowing a bit more freely.

Advertising and marketing is always a tricky thing when you are getting started. You need to allocate funds to address both needs, but working on a tight budget you can be forced to get a bit creative. Check out networking sites like Biznik and LinkedIn that allow you a free sign up and access to connecting with other people experiencing similar situations. Make those connections and gather some sage advice to get you started. You can also check out sites like Merchant Circle that allow you to establish an on line presence for your company at little or no charge. They also offer opportunities for advertising and, in some cases, allow for a single ad to be run at no cost just for setting up your account. The other thing to consider is the Social Media craze. I won’t get into the full scope of pro’s and con’s, but investigate it to see if it might be a good fit for your business. Twitter and Facebook are free to use and both offer a chance to get your company name out to the general public in another way. When you have more money to spend on advertising, you can run ads through Facebook and other spots like Google, Bing, Business.com, etc.

There is a lot to consider when striking out on your own. It can be immensely rewarding, but a lot of hard work. If you stick with it and use as many of the free tools available to build your presence it can be a little less expensive!

The Art of Presentation

A lot of companies seek to set themselves apart from their competition and will try a variety of ways to accomplish this goal. Some will develop advertising campaigns, others will make distinctive changes to their customer service. There is, in fact, a ton of ways to set about making your mark as a business, but some are a bit simpler than others.

Consider the last time you paid for a service (oil change, tax preparation) or received a set of important documents (mortgage paperwork, presentation proposal). Assuming that the service itself was flawless, how was the paperwork/payment handled? Did you receive an unruly pile of papers/receipts or were they handed to you neatly organized in a folder? Which of these delivery methods would make its mark in your memory? Odds are that the paperwork handed over organized in a clean folder is more likely to leave the impression that you did business with a professional organization rather than the average Joe.

I realize this seems a bit of a stretch, but consider this example… What marks the difference between a Coach Bag and the want to look like version available at Target? Both bags are made of leather and follow the style of the season. Yes, there are some differences in the quality of the leather and construction, but all things considered they both hold your things as you travel about town and act as a fashion accessory for your outfit. From a shopping perspective, what sets them apart is the presentation of the bags as they are made available to the consumer. Things like the décor and atmosphere of the shop itself set the tone of expectation that one bag is significantly better than the other. Consider, as well, that Coach is well branded as a company making it instantly recognizable as something people are willing to pay more to own. When you buy a bag at Target, it gets added to your plastic shopping bag along with your other purchases. A Coach bag is presented to you in a protective cloth storage bag and then placed in branded packaging giving it a special status as an item worthy of its own shopping bag. There are a number of other differences that I could relay, but you are probably getting the point… or wondering where in the world I am going with this analogy! 

If your business involves services such as tax preparation or someone who handles mortgage applications and paperwork, would you prefer to be considered the Target or Coach of your industry? Which perception will help your bottom line? Beyond your office decor and personal attire, what can help set you apart from the Average Joe version of your business? Presentation to the customer! If you need to present your customers with a pile of papers for signing and filing their perception is sure to be significantly impacted by receiving these documents in a professional looking folder than one large pile. Add your company logo to these folders and you have very simply reinforced your branding efforts while also providing a visual reminder to your customer the next time they need your service and revisit these forms to see who they used before. Don’t believe me? Give it a try with a small test batch and see if you notice a change in the reaction of your customers.

Consider This...

I have recently encountered several print industry articles voicing concerns about the decline in paper use due to the digital age and speculating on the impact this trend may have on the industry as a whole. As with most things, opinions run the full range from panic to optimistic assumptions that it is just an opportunity to become more creative. Being an optimist, I tend toward the later sentiment, but it is impossible to ignore the reality of the digital invasion. That said, I think there are still a number of things to consider before engaging in a full blown Chicken Little impersonation.

Digital is expensive. Small businesses getting started or trying to stay in the black during down times in the economy are not likely to have the large sums of capital available to invest in digital solutions – no matter how tempting they may be.

Old habits die hard. Having worked in a number of small business environments, I can assure you that business owners get set in their ways. With the many details that must be juggled to keep a company moving forward, the usual philosophy is – if it isn’t broken, don’t fix it! This often translates into a continued use of the existing methods of paper forms and checks.

Sometimes you need a paper trail. For some businesses and industries, going digital is just not a viable option yet. This means that they still need paper work orders, receipts, etc.

Security Concerns. Although there have been great strides in digital security, there is no shortage of stories about sites and companies being hacked with customer information at risk of being accessible to the hackers. Although paper can also be snatched and counterfeiting is certainly not a dead art form the new security features on business checks and other forms should not be overlooked. A number of new measures have been implemented to add layers of protection for such items ensuring that they are safe to use while still being cost effective for your business’ bottom line.

Budget. These days most companies are very mindful of their expenses attempting to get the most for their money. Whether this means shopping for the best deal or deciding between pre-printed checks and forms versus printing your own, the great debate continues. There are a number of software products currently available allowing companies to print their own checks and business forms. HOWEVER, before you assume that this is a cost saving measure consider all of the costs involved. Most people evaluate the cost of the software and paper, but forget the additional cost of printer ink which can add up quickly. The cost of MICR ink should also be factored into the decision when thinking about printing your own checks as it is an important security feature of checks and missing this step could cost more in the long run than you save up front. Unless you are printing A LOT of checks and forms, I would be willing to bet that you would be better off finding a reputable supplier with great prices rather than trying to manage all of these details on your own. After all, there are so many responsibilities to manage in a small business – do you really want to add “printer” to your job title?

 

As always, I urge you to consider what is best for your business and sanity. The needs of each company are very different depending on industry, profits, staffing, resources and time. Before you take on a “cost saving” initiative, be sure that you have fully evaluated the costs – including the non-monetary – to ensure that you are not just creating more work for yourself.

Security!

While running errands this weekend I stopped by one of the large retail office supply stores. As I perused the software section I noticed a product offering the ability to print your own checks rather than purchase pre-printed checks for business use. The entrepreneur in me got a little excited, but then I started to do my homework - the marketing almost worked!

It turns out that since the inception of checks in the late 1600's the methods of making them a more secure form of payment have increase with the demands of the users. By today's standards there are more security methods than I care to try and count ensuring that forgers really have to work hard at their version of entrepreneurship! One of these security methods is something referred to as MICR (Magnetic in Character Recognition). I could attempt to relay every last detail of my reading research, but suspect that your coffee pot may start running into overtime use! So, I will boil down what I have sorted out and make my point about this "print your own checks" option.

By the year 1952 there were 47 million checking accounts with 8 billion checks written annually. On an average business day there were about 69 million checks processing through the payment system. Wow! Consider the population growth since 1952 and try to imagine what these numbers look like today... Because of the volume of check use the banking industry determined that they needed to develop an automated processing system to expedite the processing and keep up with demand. By 1956 the method of MICR was suggested and quickly implemented. There are, of course, a number of details about this special ink, but in the interest of time let me explain it the way I understand it to work. The ink contains special ingredients infusing it with magnetic attributes allowing it to stand out against other ink imprints made upon the check during processing (endorsement stamps, etc.) Combined with a special font selection and a few other features, MICR also provides a processing feature readable by both machine and human. The catch to this security and processing feature is that it requires use of a special ink. Now let's take things one step further... special ink means you also need a special type of printer in which to use it. "Special" most often also means that the ink cartridges can be quite costly. My point?

As with all business decisions - try to move past the initial marketing based excitement of a new product and investigate the details fully before making your decision. Purchasing a special printer and special ink just for printing your own checks might save you money if you print ALOT of checks routinely, but it also increases your maintenance and equipment costs. Check out all of your options and run the numbers - you might find that purchasing pre-printed business checks from a trusted supplier could save you time and aggravation in the long run without sacrificing security measures!