123 eGuides

1 Minute Advice: What to Include in a Product Launch Plan

A product launch plan contains all of the steps and details associated with your product launch. Before you launch, you should do market research, create a prototype, and market test your prototype. These are, in effect, the initial essential phases you go through to ready your product for the actual launch.

Beyond those phases, a launch plan should include:

- “Soft launch”: A soft launch is a launch of the product or service that is limited in scope. This gives you the ability to test the product under live market conditions prior to a full launch.

- Launch checklist: A checklist of every step that must happen before, during and after the product launch, including product development, manufacture, delivery and distribution; marketing and promotion; and customer service and support components. Don’t forget about customer service! Horror stories have been told about companies that launch products, only to find out that their toll-free customer support line is not working, the new product pages have not been posted on their website, or their customer support staff is not prepared to handle questions about the new product.

- Marketing components and schedule: The product launch must be surrounded by a major marketing initiative designed to create awareness, generate interest, drive demand, and incite action. The marketing must effectively grab the attention of prospective buyers, get them to qualify themselves, and begin a cultivation process that eventually leads to a purchase.

For more check out Product Launch 123, one in a series of 123 eGuides!

1 Minute Advice: Keeping Customers Satisfied Key to New Business Success

For every business startup, customers are worth their weight in gold. There’s an old adage in marketing that says it is far cheaper to retain an existing customer than it is to acquire a new one. Most businesses, for example, will spend several dollars to obtain one dollar of revenue from a new customer, while they may spend far less than a dollar to get that customer to buy a second or third time. That’s why big companies spend so much money launching a new product or service. They invest the most money to get someone interested in an effort to acquire a new customer.

How can you apply this big-business principle to your business startup? Very simply, once you acquire a customer, you should do everything you can to keep that customer satisfied. You want that customer to do business with you over and over again, for a long period of time. A satisfied customer not only represents ongoing revenue, that person is a conduit to additional business. A satisfied customer will act as a reference for you, and he or she will also pass your name along to other potential customers.

Keep customers satisfied with good products or services at a good value. Offer responsive, caring customer service. Go out of your way to deliver. All of these things go a long way in making your business successful.

Here are some of the specific ways customers can be of importance to you:

- Testimonials: A satisfied customer may be willing to provide you with a written testimonial that you can use to acquire other customers.

- Loyalty: Loyal customers represent repeat business. Consider instituting some type of loyalty program (such as a punch card or points program rewarding frequent purchases) to offer customers incentives for doing regular business with you.

- Upselling: A good customer is a ripe prospect for upselling – getting the customer to purchase additional goods and services.

- Cross-selling: A good customer is also a prospect for cross-selling – getting the customer to purchase other items your business sells that are not directly related to the original purchase.

- Referrals: A happy customer is often open to referring other customers to you. All you have to do is ask for a referral from the customer.

Find more tips for starting, growing and managing a business in the new 123 eGuide, On Your Own 123!

1 Minute Advice: 3 Ways to Get Business for Your New Business

1. Develop a unique selling proposition. Think about your business and what you have to offer that truly sets you apart from any competitor. Is it the nature of your products, the way your products are packaged, your customer service, or the way you deliver what you sell? If you don’t have something you think is unique, spend some time considering what you could do that’s different or better – something that would benefit your customer. That something should become the core of a unique selling proposition – what you can offer customers that no one else can.

2. Put your past experience to work. In your previous work life, you interacted with all sorts of people, developed contacts and built relationships. When you start a new business, it makes good sense to rekindle those contacts and use them to help acquire customers. Some of them may end up being good prospective customers and others may be in a position to refer customers to you. Do your own outreach to these past contacts to let them know you have started a business and ask them to spread the word on your behalf.

Also learn how  to position yourself as an expert in your field. You can become an expert by writing blogs, articles, newsletters, or books and by giving speeches. Any of these activities can then be promoted on your website and via social media. Your credentials (experience, education, background, etc.) can also reinforce your position as an expert. If possible, get industry experts or recognized authority figures to endorse you or serve as references. When prospective customers perceive you as an expert, they will often want to do business with you over your competitor.

3. Network within your industry and at local business functions. Being visible in your industry and your local community is essential. Seek out associations that serve your industry and attend regional or national meetings if you can afford it. Attend meetings of local business owners sponsored by business associations or chambers of commerce. Always come equipped with your “elevator pitch” – a well-rehearsed description of your business that you can deliver in a minute or so – and business cards to hand out. Even if you don’t meet prospective customers, you could find people who might be in a position to refer customers to you.

Find more tips for starting, growing and managing a business in the new 123 eGuide, On Your Own 123!

1 Minute Advice: Starting a Business? Look the Part

One determining factor in starting a business is relatively simple and obvious, but its importance is sometimes overlooked: the perception created by appearance.

Your personal appearance – the way you present yourself to a prospect or customer – is very important, particularly if you are selling personal or professional services. This goes beyond grooming and clothes, although those things are important. Appearance also involves the way you interact with another person. You might call it the importance of making a first impression, because first impressions are lasting.

Certain basic qualities and characteristics are common among individuals who make a good first, and lasting, impression. They tend to:

-         have a firm but friendly handshake

-         make eye contact when they are engaging in conversation

-         use body language that is relaxed and non-confrontational

-         listen and ask questions rather than dominate the conversation

-         employ consultative selling techniques; i.e., try to understand the prospect’s problems and then recommend an appropriate solution rather than just attempting to sell a product or service.

Appearance can also be conveyed in non-visual ways. For example, when speaking on the phone with a customer or prospect, you should always have a smile on your face, sound positive and upbeat, and be sure you are listening carefully to what is being said. If you use email or text messaging, or respond via social media, the appearance of your communications is just as important; it’s fine to write informally, but it isn’t fine to make obvious grammatical errors or spelling mistakes.

Another place appearance matters: All of your marketing materials. Everything from your business card to letterhead to brochure to website to sales presentation should have a professional, coordinated appearance. Typefaces, colors, and graphics should be used consistently. Language and writing style should also make people feel that everything they are reading came from the same company. Prospects and customers aren’t always fully aware of the nuances of a brand identity – but their instinct often tells them when something doesn’t look right or sound right, even if they can’t put their finger on what it is. That’s why it’s so important to always convey a professional, consistent appearance.

Find more tips for starting, growing and managing a business in the new 123 eGuide, On Your Own 123!

July Only! All 123 eGuides on Sale at Smashwords.com

From July 1 through July 31, every 123 eGuide is on sale at Smashwords.com for 25 percent off the regular price! This exclusive sale is available only at Smashwords.com. Simply select the eGuide of your choice below and click on the link. Then download the eGuide in any eBook format and you will get 25 percent off the price. (The special discount code is SSW25.)

The following 123 eGuides are available:

Branding 123: Build a Breakthrough Brand in 3 Proven Steps - $2.99 On sale for $2.24

Product Launch 123: Launch a Product or Service in 3 Proven Steps - $2.99 On sale for $2.24

Sales Leads 123: Generating, Qualifying, and Converting Sales Leads in 3 Proven Steps - $2.99 On sale for $2.24

Small Biz Trio (all three of the above eGuides at a special combination price) - $6.99 On sale for $5.24

On Your Own 123: Launch a 1-Person Business in 3 Proven Steps - $2.99 On sale for $2.24.

Sale prices are only available at Smashwords.com through July 31, so don't delay -- order your 123 eGuides today!

New! On Your Own 123: Launch a 1-Person Business in 3 Proven Steps

123 eGuides is excited to announce the publication of a new 123 eGuide: On Your Own 123: Launch a 1-Person Business in 3 Proven Steps.

More people than ever before are considering or starting their own businesses. This eGuide provides a basic overview of what’s involved in launching a 1-person business. It has valuable information about starting, growing, and managing a 1-person business, including:

 

 

• the ups and downs of working for yourself
• legal considerations
• branding your business
• sources of capital
• establishing a place of business
• getting professional advice
• basic systems you need
• how to get business for your business
• the importance of satisfied customers
• using sub-contractors
• when to add employee
• managing receivables
• tracking and analyzing expenses
• managing cash flow
• having sufficient insurance
• paying taxes
• meeting employee requirements
• managing your personal life.

This eGuide is now avalable at the Amazon Kindle store and in any eBook format at Smashwords.com.