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Does Email Marketing Increase Sales?

December 16, 2013

Email marketing provides businesses with a cost-effective way to stay connected to their customers. In addition, companies can easily launch a program to meet many different objectives. Learn the best ways to increase sales with email marketing.

Email marketing programs

There are many different ways to use email marketing to connect to customers. Companies can launch campaigns with the objective of being promotional, informative, or to provide a company specific announcement. The type of campaign and frequency of emails will typically depend on the customer, company, and industry. For instance, a business targeting a previous retail customer may send promotional emails based on historical purchases and the time of day the open-rates perform best.

Important email marketing metrics

The open-rate measures the number of recipients that opened the email as ratio of the total email send list. Most marketers should expect an open-rate of 25% to 30% according to the recent 2013 industry statistics provided by marketing firm Epsilon. In addition, to open rates, marketers will want to pay attention to click through and bounce rates. Click through rates are typically shown as the number of links in the email that were clicked in relation to the total number of recipients that opened the email. (more…)

Are You Updating Your Five Year Strategic Plan?

December 9, 2013

The 2008 recession changed how many businesses manage their companies. Strategic plans from prior years were changed and in some cases completely scrapped for a greater focus on reducing costs. As a result, many c-level executives are now beginning to question the importance of a five year plan. Despite this sentiment, we believe strategic planning is effective when done properly and continuously.

The objective of a strategic plan

Many companies follow a strategic plan to guide them on how to allocate their resources effectively to achieve their objectives. Without a plan, it’s very difficult for senior management and employees to work together in achieving company goals. Unfortunately, these plans are sometimes designed with little regard to internal and external factors.

Updating your strategic plan

First, you may be asking why you need a five year plan when it’s very difficult to predict future business conditions. The simple answer is that you need to prepare for unexpected events when building a long lasting company. Typically, it takes several years to achieve results from developing new products, services and competing in new markets. The same holds true when making changes to existing products and services or setting new financial goals. (more…)

Be Ready For Rising Business Costs In 2014

December 2, 2013

Most businesses will experience rising costs in 2014. The economy is expected to grow at a 2% rate, which should offset some of the increasing costs. What costs can you expect to rise the most in 2014?

Health-care costs set to rise again

Employers can expect to pay at least 7% more this year than they did in the previous year as a result of rising health care costs. The health care exchanges should or are intended to keep those costs from rising at a higher rate in future years. However, time will tell on that front. Employers and employees should also anticipate that prescription drug costs will increase.

Prepare for higher shipping costs

Companies should anticipate a 5% rise in delivery costs with carriers such as FedEx and UPS. The shipping leaders have experienced a lackluster financial performance so far in 2013 and labor costs are expected to rise worldwide. Regular mail costs should also rise by a similar rate as the USPS continues to struggle to reach profitability. The USPS should keep pricing fairly consistent for packages.

If you’re shipping using trucks, expect a 2 to 5% increase as companies need to meet new regulations and the demand is currently outweighing the supply. Rail freight will also increase, albeit at a lower rate. The cheapest option for shipping in bulk internationally will continue to be via sea. (more…)

Fuel Your New Year Marketing With Your Passion

November 29, 2013

It’s no secret that small business owners are some of the most passionate and hard working people around. It’s one of the main reasons many customers decide to shop small, and it’s probably the reason why you were able to open your doors to begin with. That passion is a huge advantage to you as a small business, and can make a big impact when leveraged in the rights way… especially as part of your marketing efforts. When you infuse your passion into your marketing you can really stand out from the crowd. You can also help you develop more personal connections with the people who matter most—your customers.

Following are easy, effective ways that you a can use to fuel your New Year marketing with your passion:

Show your employees hard at work

Snap photos of your employees working to make your business a success. You can post those photos on Facebook, add them to your website, or even plug them into your next email newsletter. You can also try a tool like Instagram to create photos your customers will love and want to share, and create a Pinterest board to capture all of those photos. (more…)

The Best Marketing Advice – Ever!

November 28, 2013

I recently went to one of my favorite restaurants – Craft. The service and the food were excellent as always but there were several little surprises for us throughout the evening. Small and subtle acts of a gracious host, but delightful nonetheless. The evening ended with my retrieving my coat from the coat check and being presented with a lovely baked treat along with my belongings. This was the icing on the service cake – figuratively speaking. While I’ve had numerous fabulous dining experiences, it is mostly about the food and sometimes the service, but rarely is it about the above and beyond or gracious nature of the establishment.

I’m extraordinarily loyal to my local corner bodegas because when I forget my wallet “no problem, you pay next time” and “here, take this one instead, it is fresher” are not uncommon exchanges. And even though I’m a regular at a nearby super market, I remain a stranger and am treated accordingly — other than by their delivery man, who knows I tip well and so usually takes the initiative to move my delivery to the head of the line.

Where I get my nails done, someone always offers to give me a 5 or 10-minute shoulder and neck massage – for free. Trust me when I tell you that I don’t need my nails done that often but that massage really makes my day. With no less than 10 nail salons within a few blocks, many offering discounts and lower prices, I always make a beeline for my favorite place. (more…)