5 Ways to Improve Targeting your B2B Marketplace

“Customer is the king”. Yes it is true. It is because of “Customers”, why we are in business. In the B2B business, lead generation and sales management are keys to ensure your sales pipeline always full. But, many big and small companies are not giving heat to it. Not having or knowing how many leads you have in your sales pipeline and at what stage they are in the sales-cycle can have huge impact on your bottom line. So how do you find new customers? Where should you spend your marketing dollars? How do you measure your ROI?

So I am discussing herewith 5 things you can do to generate more and better quality leads.

1) Branding – Does it matter?

This is an ongoing argument. Some will say YES branding does matter and others will say NO it does not matter. So, the question arises, does it matter? Yes it does. Ask a group of your clients how they came to be your clients?
Maximum responses will say by “referrals”, followed by: by reading about your company or learned about you through seminar, in other words your reputation or “brand” influenced their buying behavior and ultimately their buying decision.

2) Target Markets – Who are your prospects?

How well do you know your target markets? Jus answer these questions:
1. Do you know the profile of your target prospect? (Industry, No. of employees, revenue, etc.)
2. Do you know the title of the decision maker you should be targeting?
3. Do you know the names of the actual companies you should be targeting?
4. Do you know the actual names of the decisions makers in those companies?

If your score is 100%, it means you know your target prospects. 80% or less then there is scope for improvement. This is important because: to be successful in lead generation and sales, you need to know, who your best potential customers are. So, I can say knowing your prospects better and ROI on lead generation is directly proportional to each other.

3) Contacting Prospects -What works?

A refined prospect list is the starting point, but what is the most effective way to contact them? Recent Researches shows that two most effective ways to contact prospects is through:

a). Referrals:
Referrals can come from clients, partners or suppliers and represent your best way to contact your prospects. This is best method to contacting your prospect because the person making the referral already has a trusted relationship with the contact and has prequalified them to some level. You are granted the same level of trust as a result of the referral.

b). Telephone Prospecting.
Telephone Prospecting can be as effective as referrals if implemented correctly. The purpose of the telemarketing is what determines its effectiveness. What you should do is use the telemarketing as a way to introduce your company and learn more about the prospect, not sell them on the phone.
It is very unlikely that you are going to call someone when they happen to be “sales ready”, but you need a starting point and this is it.

4) Nurturing – Is your bucket leaking?

Lead management is the key to long-term profitability. Sales teams are usually highly motivated to find “sales ready” leads. Industry researches show that only 10% of the total leads are in the “sales ready” bucket. The remaining 90% are not ready or able to make a purchase decision and require a nurturing plan…but do you have one?
Lead nurturing: It is about managing qualified leads throughout the sales-cycle. It’s not about weekly calls asking them to buy, but about demonstrating value, keeping top of mind and positioning your company as a resource so when the lead is sales ready, you are the one they contact. A nurturing plan requires strategy, tactics and systems. For strategy, your company will likely have some level of thought leadership where insight and innovation can be harvested. These are key starting points from which tactics will be developed. You will also need a highly automated system that can manage the lead nurturing process using various marketing tactics and then qualify leads as they become sales ready.

5) ROI – How do I get there?

You are investing in Branding, creating refined Prospect Lists, Contacting Prospects, Lead Management Systems and Nurturing Strategies all in the name of creating sales and profit. But how are you going to measure your return on that investment? The only way to do this with accuracy is by having a well defined closed-loop marketing system. This is where you can manage and measure throughout the entire sales-cycle process from initial contact to completed sale. You need to be able to manage and measure your

• Branding Activities
• Target Lists
• Contacting
• Nurturing

Having a closed-loop marketing system that you can control and adjust to fit your specific business needs will allow you to clearly define your costs for lead generation. Managing and measuring the lead generation and sales-cycle processes will also allow you to keep track what sales actually closed. Once you are able to match up the lead generation processes and costs with the specific sales that closed, your ROI becomes a whole lot easier to determine.

Know How To Make A Business Plan

There is a general idea about how to make a business plan, making the appearance of business plans to remain the same for all times. But the accetance or otherwise of a business plan surely depends on your ability to add certain components of a good business plan.

Since most business plans are part of fund raising requirements for new businesses and because your business plan will be reviewed by those you seek fund from, it is best that you stick to the known conventional business plan and the normal decision making components of a good business plan, ,if not your reviewers may see no reason to go ahead with the review.

You Should Write Your Executive Summary Properly

The executive summary of your business plan carries the very first impression of your proposal and as such should be written very well. If it fails to capture the attention of your reviewers they may not read all of your business plan. All words in your summary must be important ones that succinctly explain your overall plan in an abridged form, accurately describing the nature of your business.

If what you have by way of executive summary is impressive you are surely getting the reviewers on the side of your presentation by laying before them in black and white why your proposal is of benefit to the general public.

A very good executive summary is how to make a business plan that gets approval. A well written analysis of the potentials of your target market, the amount of capital you are looking for to take advantage of the market, expected proceeds from sales projections and your repayment plan therefrom are all the hallmarks of an excellent executive summary.

Introduce Your Business

This section is all about providing more information about your company: The registered name, business premises address and more description of the nature of your business. Your readers will not bother to solve your riddles, so write simple and easy to understand statements of facts that need no thinking to understand. Come down to layman’s level if your business is a technical type.

Clearly Analyze Your Market

This is where your reviewers will quickly appraise your knowledge of the market and business for which you are looking for funds. If you have done your homework, your analysis of the market will glow before them like a sun in splendor. Here you are just adding more shine to what you said at the executive summary. It is your marketing plan that you present here.

Funding, Your Source Of Expected Income And Your Financial Contribution

Your expected income from expected demand in your target market, a well researched market info that brings about clear competitive edge for your products or services against competitors, the marketing strategy and packaging and advertising and the policy of your company are what you put in this section. Also, you have to include your own monetary contribution in this section.

Finally, you present your reviewers with your management team – that is your organizational structure according to your type of company. If you are about starting a limited company, your key staff resumes must be included for your audience to see the calibre of men you have put in place. Here you must make sure that only people with relevant qualifications are presented as members of staff. This is how to make a business plan that works.

Cheap Electronics: Really Cheap Or Not? The Ultimate Reference For Price Comparisons

Today’s economy places a lot of question marks above people’s heads. Should I continue to work at the company I work for even though they are reducing the employees and the salaries? Will I be able to set up a home business in these somewhat troubled times?

One of the safest bets you can make if you want to work from home is by establishing yourself in the world of cheap electronics.

During the last decades people have become more dependent on electronics and electronics also play a big role in the western forms of entertainment.

Because new sorts of electronic devices keep appearing on the market, dealing in electronics is a wise choice if you want to set up your own private business.

In Europe alone in example over 100 billion Euro’s were spend by over 100 million Europeans on online retail in 2006 according to the statistics from Forrester.

Between 2003 and 2005 the total amount spent by Europeans on online goods grew by 50%. The forecast from Forrester also says that the amounts will likely continue to grow with a rapid speed through the coming years.

It will probably not come as a surprise that over 10% of the total amount of 100 billion Euro’s spent on retail in 2006 came from purchases of electronics. This means that over 10 billion Euro’s were spent on electronics in Europe alone!

Those figures don’t only sound exciting, they are exciting and thanks to the large volumes of cheap electronics coming out of China these days it is very possible to buy products for a low price and sell for a very very high price.

And, as you are selling products online setup costs are minimal making the actual take home profit even higher.

But how can you find wholesale electronics companies that can supply the cheap electronics that you need.

In previous years you might have had to buy a ticket to China, meet with a whole lot of suppliers and then order a container load of an item.

Recently though things have gotten easier and there are many wholesale dropship companies online that will happily supply you with all the cheap electronics you need in small lots, and even one piece orders. Some will even send items directly to your customers.

To ensure that you’re getting a good deal you need to check out both the wholesale supply company AND the product you are thinking of stocking.

Questions you should ask the supplier include:

*Do you hold your own stock?
*Do you have a QC process?
*Do you provide delivery and/or product warranties?
*Who else has used you, where can I see reviews of your service?

Things you should be wary of with products include:

*Whether or not it will work in your region
*The types of warranties it carries
*Whether or not it is a counterfit of a brand name item
*What the price is compared to similar items on the market (eBay is a great place for price comparisons)

If you have several similar items that you are considering buying it is a good idea to do a price comparison of all of them.

However, it is usually a good idea not to take the cheapest option as that supplier may not be providing you with the best level of service and quality control which will leave you and your customers unsatisfied.

Quality control programs and shipping and manufacture guarantees are so important that it is usually worth paying what looks like a premium for a company that provides them. This way, if there is a problem with their product they will refund you and you can keep your customers happy while not loosing any money in the long run.

So how do you do a price and services comparison?

The best way to do this is with an excel sheet.

Head up columns in the column section:

*Shipping Time
*Photos/Descriptions Included?

Each product goes into the rows and gets graded according to the criteria that you have set.

The real cost of buying/listing the item can then be seen and you can make an informed decision.

Once you have found several or even one company that has your interest you could order one piece of electronics to ensure that the quality is up to scratch.

If you are seriously looking for a business opportunity that has high pay outs then you have found your match.

More and more people are making their purchases online and if you can offer quality products at reasonable prices and advertise your products you are just a few steps away from making it big-time.

So what are you waiting for? Get out there now and start looking on Google for the electronics suppliers that are sure to be your next step towards financial freedom.

6 Strategic Marketing Ideas For Small Business

Are you just starting out? Sometimes it can be hard for small businesses to excel in their first year, due to the costs of establishing the business and advertising the business. There are a number of strategic marketing tips that will help to boost your business. Below is a list of the top 6 strategic marketing tips for small businesses.

6. Become a Sponsor of Your Local Sporting Club!

There are heaps of opportunities for small businesses to become sponsors of events in the local community; such as sporting events and school events. Becoming a sponsor is a great business strategy, because sponsorship deals usually do not cost a great deal of money or resources. Just think of the exposure your business will get?!

5. Learn to Take Advantage of (and Reward) Your Customers.

… In a good way of course! It is not well known that it is much easier to get business from someone that has dealt with you before, than from someone who has never dealt with you. That’s why it’s so important to retain these clients. As well as the financial strategy to retain clients it is beneficial to reward regular customers with special or exclusive deals for them. Or start a loyalty program – buy 4 get one free etc.

Remember, word of mouth advertising is more effective than any other form of advertising – and much cheaper!

4. Offer Your Potential Customers a Cheaper or Premium Version of Your Product.

Remember that some potential clients won’t want to pay the advertised price for your product. You should have a financial strategy to cater for all budgets.

You will always find those people out looking for a bargain, good on them. A good business strategy is to accommodate for this. Avoid losing the sale altogether and have a no frills version of your product that you can sell for a lower price.

In saying this, it is important to remember that not all potential customers are looking for a cheap price. You will find that some are prepared to pay a little bit extra if they will get a top quality product. Keep in mind that if you can cater for everybody, you will definitely win in the long run.

3. Don’t Kid Yourself. Don’t Advertise Like a Big Business.

You probably cannot afford to advertise like a big business. It’s much better to do your research and advertise smartly, than largely. It is much more effective to have 5 smaller advertisements, than one large one. You’d be surprised how effective smaller forms of advertising can be.

Have you thought about a letterbox drop? If you include a special offer in your advertising, you may sway more potential customers to try your business.

2. Get Online – Don’t Miss Out on a Sale!

The internet is open 24/7. You can’t pop down to the shopping centre at 4:00am and buy a pair of shoes; but you can online! So many small businesses fail to advertise online. If you are not online, you are behind the eight-ball. You should know that the internet is typically the first place people go for information.

1. Facebook is Your Friend!

So you have now created an awesome webpage? Don’t stop at that. Did you know that there are over 175 million users on Facebook? That’s a LOT of people. Think of all the extra customers you could obtain via Facebook! Don’t worry about your financial strategy – you can create a FREE Facebook page!

If your Facebook page is done well, it can be used to bring in so many new customers as well as helping to maintain your relationships with your current customers.

Home Based Online Money Making Scams or Not With 5 Big Internet Business Lies

You have heard from people saying Internet Business is a waste of time, you will not make any money, there is no real money to be made online, it will never work and so many others negative words coming from people who don’t really understand in this Internet Business industry.

The thing is, it does work. Why some people make a fortune and some don’t even make money at all? Simply because the people who make thousands or millions of cash knew all the lies in this business and they will not trust these lies.

So what is this big internet lies? Below here are the 10 big internet lies that you should know:

1. Starting And Running A Business On The Internet Is Expensive

Do you know that you can start your business with zero cost? You can actually earn your income by joining a very high quality affiliate program. Usually, as an affiliate marketer, your job is concentrating on marketing only. All the follow up, delivery of the product, answering questions from customers and so on are done by the owner of the program.

Usually the ‘expensive’ statement often comes from people who are living in non-U.S. countries, especially if the country’s local currency is smaller than that of the U.S. Dollar. If it is not a currency issue, it is a vision issue. See and think small to get small. See and think big and your results will have a tendency to match your thoughts.

2. You Can Make Easy Money From The Internet

Most people believe you can make money overnight and by not doing anything at all. If it is what you have in mind right now, this myth is what sets the realistic apart from the unrealistic. You have probably heard of stories of how people make 5 to 6 figure incomes in the shortest period of time imaginable.

These stories might be true but did you know most of them have failed so miserably several times before they can really make money? They have learned from their mistakes and move on. It may seem as if some gurus are overnight successes with the wild numbers some people have brought in during a day or a week selling information or products online.

Some interesting facts about overnight success – it normally takes months if not years to realize. In other words, they prepare, they create a joint ventures, they get ready and then build up anticipation for a launch – then BOOM it explodes!

3. You Must Know HTML, Programming And Graphic Designing In Order To Start Your Business

You don’t need to know all of these at all. Period. In fact, one of the biggest shockers was the discovery that most of the biggest on the gurus today do not have the first clue as to how to build a web page.

These gurus earned more money because they knew how to reach people. They either outsource for professional help or establish Joint Ventures with other individuals who can compensate their lack of knowledge in any one of these areas.

As a matter of fact, most successful people are true successes because they only focus their time on what brings them successes.

If you want to create your web pages without having to learn programming, HTML and designing skills, just find someone else that can do it for you. There are many professional web designer you can find on the Internet which you can hire them to design your web pages exactly like you wanted.

4. On The Internet, There Is No Need To Know How To Sell

This statement has make people who hate selling are attracted to ads that read “no selling required”. Think for a moment, is there any logic at all you can make money without doing anything at all? Usually these programs are usually unworkable and some are run by fly-by-night operators.

In this business, don’t try to sell to other people. Instead, you inform your potential customers. Show people what their lives would be like with what you offer and you will have a sale without selling anything at all!

5. You Don’t Have To Build A Mailing List At All

Laughing out loud – that is like saying, “I don’t want to be in business”. Put this in your head, your mailing list is as important to you as the “Yellow Pages” is to a conventional B2B business.

“The money is in the list”. You probably heard this from most gurus out there. But you should also have this word in your mind, “The money is in the relationship”. The idea of networking with people is unattractive to most who hate to sell.

Remember though, you are not selling anything. You are just showing people their life and how it can easily be enhanced by what you have to offer.

All the above are just some of the big Internet lies. Actually there are a lot more Internet lies you should stay away from. You have to be smart in order to really achieve success that you could possibly imagine. Success is like enlightenment. It is a path and not a destination. Click Below To Get More Information