Why Small Business Owners Get Better Sales Results From Relationship Marketing

There are 3 major differences where direct marketing, also known as relationship marketing veers sharply away from traditional marketing and advertising.

You’ll see why it’s the most cost effective method any business can do. But especially small business because let’s face it – you’ll never have the money to throw at marketing and advertising that BIG business does. 

And the good news is you don’t have to. These proven principles will work on or offline across the board, for any business, in any media, with any product or service. 

But first let’s be clear that direct marketing is not just direct mail. It includes mail of course, but that was just the beginning it’s now expanded to include all the mediums available today. Remember the media is just the delivery method.  

So here’s the 3 major differences between traditional marketing and advertising AND direct marketing using direct response advertising. 

The first is – Direct Marketing is based on a one-on-one customer relationship which gives the ability to have 2-way communications. 

Unlike traditional marketing direct marketing relies on dialogue. We all know that people do business with people they know, like and trust and that is best achieved by building the relationship. So it’s not the “catch and kill” approach here. 

Getting the contact details of your prospective customer is goal number one because it puts you in control of the communication process.   You are no longer at the mercy of the crowded marketplace when you are “talking” to your list. 

It’s also easier to find more people like them. 

The second is – Direct Marketing always has a call-to-action so the customer is asked to do something. 

And that’s because you “ask” them to take the action you want them to take – either request more information or place an order immediately.   Whatever is the next logical step in your sales process. In fact it’s called “a call to action” or “asking for the order” which doesn’t happen in the traditional advertising model. 

You see there are actually 2 types of advertising. 

The dreaded awareness advertising and the champion “direct response”. 

It’s important to understand this because the biggest mistake I see small business owners make is they copy big businesses. You won’t make this mistake now you know about direct response advertising but naturally people think that big companies are successful so they must know what they are doing and they “copy” their type of advertising. It’s the last thing you should do. 

Big companies use Awareness advertising which is image based advertising or brand awareness. These big companies, with well known brands have expensive ads that aren’t really selling they are promoting their brand trying to get you to “feel good” hoping when you are out in the marketplace making a buying decision, you’ll remember them. 

They never ask their customer to do anything – think about all the ads you see on TV.   It takes many years and many millions of dollars to make an impact. So don’t waste your money on this. You need ads that sell NOW. 

And we’ve all seen those print ads that don’t ask the reader to do anything – just check out the yellow pages. People pay tens of thousands of dollars for just one advertisement, depending on the size.  And what do they do? Put a big fat logo at the top, boring feature after boring feature in bullet points and a phone number at the bottom. All about the company and product and NOT about the customer. 

Direct response ads, on the other hand are all about the customer, their needs and problems because your customer is listening to radio station WIIFM or What’s in it for ME. And they offer a solution, make an offer then ask the customer to “respond” using a call to action. 

It’s obvious the difference this must have on your advertising response and now that you know this you’ll never look at advertising the same way again! 

The third thing is – Direct Marketing results are measurable which means you know what works and what doesn’t. 

Unlike mass advertising you can make an offer in any media and track the results. It’s simple. So once you know what works and what doesn’t you can test other ads or media to try to improve the results and increase your profit margin. 

Tracking can be simple or sophisticated depending on your systems and resources and will vary for online and offline activities. But all you need is a way to identify where the responses came from and count them. 

You can have proven, predictable results to build your campaigns on and who wouldn’t want that?

Advantages of the Forex Market

1. Greater Liquidity. According to the Bank of International Settlements’ 2007 Triennial Central Bank Survey, the average daily turnover in traditional foreign exchange markets is estimated at $3.21 trillion. The overall turnover in the forex market is more than 10 times the combined daily turnover on all the world’s equity markets. For traders, this means that it’s easier to get in and out of trades at the price you want. At least from this perspective, the forex market is safer than other markets.

2. Leverage. To put it simply, leverage is the ability to trade with borrowed money. Many brokers offer traders 200:1 leverage at no additional cost — meaning traders can trade 200 times the amount of capital they’ve deposited in their account. Leverage allows traders to more precisely define the amount of risk they want to assume, and can allow for above average returns as well. It should be noted that leverage needs to be used cautiously; in fact, poor usage of leverage is one of the primary causes of forex traders losing all the wealth in their account. Used prudently, though, the amount of leverage the forex market offers — which is far greater than what other markets offer, and typically comes at no additional commission cost — can help traders earn greater returns while staying maintaining a level of risk that is appropriate for their investment portfolio.

3. 24 Hour Availability. The forex market is truly a global market; it is open 24 hours a day. While many stock markets have after hours trading, those markets are often very illiquid during those times; in other words, prices can be more volatile, and it can be harder for traders to get in and out of positions at the price they want. On the other hand, the forex market is active 24 hours a day, as banks across the world are active participants during their hours of operations.

4. Abundance of Direct Access Brokers. In most equities and futures markets, most brokers do not provide traders with direct access to the counter party of their trade; in other words, traders have to give their trade to a broker — who in turn adds a fee, and then passes it on to the party that actually takes the trade. In the forex market, though, online forex brokers typically are the counterparty to the trade. This allows traders to enjoy trading at a lower price. For active traders, this can end up resulting in significant savings over time.

These advantages are a big part of the reason why forex trading has become more common amongst individual traders over the past decade, and why its popularity continues to accelerate.

Effective Email Marketing Strategies

Although most online entrepreneurs are becoming increasingly aware of the importance of email marketing, many do not know how to conduct an effective email marketing campaign. Unfortunately, these people will be very disadvantaged over competitors who are well versed in using subscriber lists to market to prospects.

The purpose of this article is to bridge this knowledge gap and offer some useful tips for online business owners who would like to implement an email marketing campaign to increase website traffic and of course, sales.

If you can afford to do it, hiring a professional to design and implement an effective email marketing campaign, is the quickest way to get up and running. The reason for this is obvious. Not only are such experts well experienced in email marketing, effective email marketing strategies are constantly being developed and adjusted.

Using the services of someone who can dedicate their working life to implementing successful email marketing campaigns means that you don’t have to experience the long and often expensive learning curve in order to achieve the same outcomes.

By being free to focus on your core business instead of having to spend most of your time learning and implementing new internet and email marketing strategies you will be better placed to achieve your business goals. So a professional who can design a complete email marketing campaign for you can provide an enormous boost to your business on more than one level.

However, once the decision is made to use a professional service, the difficulty is actually finding one that is of high professional quality and can deliver the best outcomes. Do not simply respond to a good piece of advertising or a professional looking website. You need to choose a professional who can demonstrate significant, long term experience, show a track record of successful campaigns, pay attention to your concerns, is able to detail and explain the strategies and can agree to a reasonable deadline for your project completion.

One of the most popular ways to use email marketing is to offer an e-course on a topic related to your niche. Ideally, such a course will comprise short, easy to digest sections, be genuinely informative and of interest to your target audience. You can also write the course in such a way that the information can be used to support selling points for various products and services. However, it is very important that you do not use your e-course to directly sell because this could be deemed to be spam. Simply offer information and links they can follow to your website where you can more directly promote your products or services.

Another very effective email marketing strategy is the publication and distribution of e- newsletters. An e-newsletter is simply an email equivalent of a more traditional print newsletter which is distributed conventionally. The cost of distributing an e-newsletter is next to nothing so it is an ideal method of disseminating information and directing readers back to your website. Most of your e-newsletter should be good quality content including feature articles, briefer articles offering helpful tips, and possibly product reviews.

You can also include graphics if you wish, however you need to be aware that people with slower running computers or on slower internet service plans may become frustrated and close the newsletter. Include links to your website pages or to affiliate sales pages and use some soft sell sales pitches to encourage your readers to click through. Although you can certainly encourage people to buy a product in an e-newsletter, you can be more convincing on your own sales pages.

No matter which email marketing strategy you decide on, you will need to monitor your results regularly. While some aspects of your email marketing strategy may be working, others may not be and will need to be replaced or adjusted. You also need to know what aspects of your email marketing campaign are most successful so that you can use them more often or more comprehensively.

For example, you may notice a spike in website traffic whenever a new newsletter is sent out. If this is the case, it might be a good idea to send your e-newsletter out more often. Just by paying attention to what is working and what is not, you can maximize your email marketing success.