Bollin on Business: Ready for the season?

Although the stock market has been as nervous as a long-tailed cat in a room full of rockers, many of TV’s weekend financial gurus claim we are very close to, or may have actually “bottomed out” of this down market.

The government takeover of Freddie Mac and Fannie Mae is said to provide stability to the mortgage markets and may provide a foundation for a renewed housing market as early as the fourth quarter of this year. The leading indicators do look pretty strong, and perhaps the economy has begun a long upward trek.

If this is the case, the timing couldn’t be better for area businesses. The annual monsoon is bidding a reluctant departure, signaling a return to crystal blue skies, moderating temperatures, and triggering an urge to shed the confines of our air-conditioned cocoons.

I have already spotted some of the early migrators … butterflies and Midwest license plates, and I see the potential of a good year for local businesses.

But, are you ready? I mean, have you really taken a look at your business objectively? When customers are in a buying mood, it seems like almost anything you do receives a positive reaction. But when business is harder to get - like now - the real core value of your business (as perceived by your customers) will shine through. Here are 5 helpful ideas to insure your business is “customer ready.”

1.) Some of the best and FREE research you can do is to talk to your prime customers.

Ask them what they like about your business and, if they owned it, what changes would they make, and why. Not only will you be able to identify the core value of your business, but you’ll receive some great ideas on how to add additional profit lines to grow your business as well. Look at it as kind of a “tune up” for your business, and there is no better time to do it than right now.

2.) Make sure you understand the difference between what you are selling, and what the customers are actually buying.

Here is an example. A customer walks into a hardware store and asks the clerk where the tools and drill bits are. “Need a drill?” the clerk asks logically. “Nope, I need a hole” the customer answered. If you are selling flowers, it is most likely that your customers are buying the impact the flowers will have. Selling greeting cards? The customer is buying the feelings and emotions that the card will deliver.

From a marketing effectiveness standpoint, it is always better to link the end result of buying from your business to what you are actually selling.

“Flowers that deliver LOVE,” “Cards that say all the right things,” “Tools to finish your jobs quickly and easily” are examples of linking what you are selling to what the customer is really buying.

3.) If you have a number of competitors, stop in to see how they are positioning themselves. How do they handle their customers? What are they doing right - and wrong. Then document what differentiates your business from your competitors.

This becomes your list of USPs (unique selling propositions), and identifies the key points that need to be included in your marketing materials. These elements could range from extended business hours and days of operation, to pricing, and breadth of product offerings, for example.

Most of all … be there for your customers. How would you feel if you walked into a business and the clerk was sitting on a stool reading a book and in total ignorance of your presence? It has happened to me and it isn’t a welcoming experience. I have actually heard comments like, “they weren’t going to buy anything anyway.” How presumptuous!

Welcome every customer who takes the time to spend time with you. Don’t miss the opportunity to create a long-term relationship with them.

4.) Always give your customers something of value to take home with them. Even your loyal customers could use a little thank you once in a while. How? “Give ‘em Chocolate.” Not literally (although I know several businesses that do just that), but drop a special discount “thanks for your business” coupon in the bag as they are leaving.

Let them know of new products arriving next week, or what will be in that special sale that you are planning. Let them know that you care about them and value their business.

5.) If you don’t have a Web site and a customer database, get them!

I have said this in previous columns, but it is so easy to create a dynamic Web site for your business that I think it should be a required marketing tool. Active Web sites allow you to deliver your business Brand in a way that no other single medium can. Web sites deliver who you are, what you do, where you are, what makes your business special.

A good Web site drives home reasons why someone should do business with you. Many businesses offer special coupons that web-registered customers can print out. Those registered customers become an integral part of your customer database that you can use to notify them of new product arrivals, sales, and business events.

I know several businesses that use their customer databases to deliver personalized birthday, holiday greetings, and “thank you” notes with just a “click” of a mouse.

We are very fortunate to live and work in an area that is growing rapidly and will continue to do so. It is our areawide business community that helps fuel the building blocks for our future.

As the natural riches of our Valley continue to draw more new residents and commerce, every business has an unparalleled opportunity for success.

Is your business ready?

Mark Bollin is marketing director of the Green Valley News. Contact him at mbollin@gvnews.com or 547-9760.