Bollin on Business: Growing your business in good times, bad times

Originally published May 9, 2008

For many area residents, this is the best time of the year in Southern Arizona.

Longer days and comfortable temperatures signal the impending monsoon and summer seasons. Winter visitors have returned to their home bases.

Arizona license plates once again prevail, and walking through area shopping center parking areas is much less life threatening than it was a month ago.

The change of season also signals a shift in our business climate.

Certainly, there is enough bad economic news to make businesses re-think their strategies, and that is a good thing.

Economic discomfort always delivers new ideas, creates operational efficiencies, and makes us “tune-in” to our markets and customers a bit better. Ironically, this year - the year of supposed economic doom and gloom — can be a very productive and profitable for local businesses.

For more than 30 years, I have had to design and adjust marketing strategies for large corporations and small businesses based on a continuously changing economic environment. I have learned that there are several basic but critical keys to business success and growth through good times — and bad. Incorporating these elements into your business strategy NOW will deliver the results you are looking for all year long.

Know your customers: Take time to create a key customer profile. Who are they?

You should determine: age, sex, interests, buying habits, average expenditure, and frequency of visit.

Is this the customer profile you are targeting? Are you marketing to the appropriate audience, or do you need to fine-tune your marketing approach?

Integrate customer database software: There are literally hundreds of CRM (Customer Relationship Management) software programs available. A quick Google search will produce links to basic programs with customer data collection, word processing and e-mail capability, and sophisticated programs that include POS, inventory control, and sales trends platforms. This is where information from No. 1 should be stored. If you are a narrow bandwidth business (a few highly focused product lines), CRM software is essential to maintain contact with customers regarding new and complimentary products or services.

CRM programs are also essential for scheduled maintenance and other service related businesses.

Fine-tune your marketing plan: Once you have defined your customers, determine if you have selected and budgeted for the appropriate marketing tools. Study which combination of marketing tools will be most cost effective. Which hits your target audience? What do they read or view? What key messages will inspire your audience to take action. It is important to promote your business consistently throughout the year.

Create an annual marketing calendar. Mark the special events that you will want to promote.

Planning ahead will allow you to create a viable budget and create the best campaigns. It is also important that the “10 steps” be organized and placed on the annual calendar to reflect a time line for completion of each element.

Large or small business - you need a Web site: Realtors, insurance companies, retail shops, banks, virtually every business will benefit from creating a presence on the Web.

Creating a Web site is no longer the daunting task that it used to be. Even designing a basic splash page that covers the basics of your business reinforces all of the other marketing tools that you may select can be done quickly and easily.

Your Web site, linked with the appropriate search engines, and local links such as the local newspaper, Chamber of Commerce, radio station, can generate a great deal of interest in your business, at reasonable cost.

Turn on the creativity: Be creative about delivering your message. Businesses must give their customers a reason to act, a reason to get off the couch and call, or visit. Even in the summer, people enjoy dining out, but they need to be motivated. Steak under the Stars, a cool crisp salad bar, or Crack an Egg at the Crack of Dawn breakfast special, helps customers avoid the hottest part of the day and have a unique experience as well. How about a morning or evening art show, or a 9 in the morning, 9 in the evening golf special? Think creatively!

Use PR to establish / strengthen your identity: Starting a new business? Have a new location or capability? Hired a new employee? Win an award? Bring on a new product line? What ever is newsworthy write up a press release (PR) and send it to your local media outlets. While there is no guarantee that they will be published or delivered on the air, there is a good chance that they will. Most media require a two-week lead-time.

Fine-tune your brand: Branding is a reflection of who you are as a business, and what values you stand for and deliver to your customers. It is a visual summary of your special business personality that sets you apart from your competition.

It is the twine that ties your marketing elements tightly together. Look at your brand. Does it say what you want to say about your business? Does it reflect your values? And is your brand carried throughout your business, and marketing programs?

Immerse yourself in your community: Your community is your business lifeline. Involving yourself in, and supporting community activities and organizations says that you care about the success of the area that supports your business.

Active involvement in the local Chamber of Commerce, Rotary, or other worthy community organizations will pay big dividends and advance the branding of your organization. You will learn about those issues that may have an effect on your business, and you will be able to contribute your talent and energy to many worthy causes.

Network & Netweave: Perhaps the most beneficial, cost effective, and worthwhile business activities are Networking & Netweaving. Networking is probably best known as schmoozing, or glad-handing with existing and potential customers. It allows you the opportunity to describe who you are, what you do, and why that is important. It requires that you develop and master the “30-second elevator speech.” Try writing one now.

If someone were to ask you “Tell me about your business,” could you do it in 30 seconds? Remember, in that 30-second time frame you need to cover who you are, a description of your organization, what it does, why your organization is important, and who to contact. This is a very worthwhile exercise.

Netweaving is a business-to-business activity. Develop a list of trusted businesses that are tangent to yours. The relationship between a builder and a landscaper, or a Real Estate Agent and a Home Inspector are examples of netweaving. One quality business feeds another producing the ultimate in customer satisfaction.

A great time for a business “self” analysis: Drop back for a moment. Look at your business objectively. What are your strengths and competitive advantages? What are your weaknesses? What kind of impression does your business give you ??— as a customer, not business owner? What would you change? How well does your business reflect your brand?

Too often, business owners lump marketing and advertising together.

Advertising is one of the essential marketing tools that should be included in the annual marketing plan.

When advertising is coupled with the 10 steps above your business will have created a very efficient, cost effective, and profitable marketing program.

Creative and promotional advertising can bring results when you can’t count on customers just strolling in your door. Indeed, you can grow your business during good and challenging times— and this is a great time to grow.

Mark Bollin is marketing director for the Green Valley News. Contact him at mbollin@gvnews.com or 547-9760. Comment on this column online at www.gvnews.com.