It’s hard to ignore the impact that technology has had on small businesses over the past few years.  Your products may have become commoditized.  Many organizations have found it’s difficult to stand out, be perceived as different…and to really build lasting relationships with their customers.

Have you noticed your prospects are better informed than they used to be?

Technology + Increased Competition + Discerning Customers = THE NEED FOR A NEW STRATEGY

And what better time to focus on something new…January…the month of New Year’s Resolutions!  I challenge you to go against the grain.  Forget about weight loss, and focus on weight gain (Oops, I mean customer gain!).

That’s right; there is one great way for you to differentiate—with customer engagement.  Build your base of highly-committed customers.

Why?  They’re a lot less likely to jump ship when your competition comes along.  Plus, the more engaged they are, the more you know about them—and the more prepared you’ll be to tailor additional product and service offerings to meet their needs.

And HOW do you increase engagement?  A 4-step process I call The Easy Method.

1. Easy to Find Customers want instant, easy access to information on their terms.  Make it easy for them to reach you.  Make sure your materials answer their questions.  Add calculators and forms to your website.  Mobile phones, the web, e-mail…you get the point.
2. Easy to Understand Think user-friendly here.  You may understand industry jargon and acronyms, but your customers need to feel comfortable with these concepts.  Before they’ll trust you, they need to feel you can relate to them.
3. Easy to Recognize Consistency is key. If your customers expect to hear from you, make sure they do.  Regular communication and a consistent visual representation/message build stronger recognition over time.  Stronger recognition = a stronger connection to you.
4. Easy to Relate No two customers are the same.  Or are they?  Segment your customers and offer personal offers/communication.  The more relevant you are to them, the stronger your relationship and the more receptive they are to what you have to say.

This month, resolve to involve your customers!

Okay, the doors to your business are open. You have an attractive sign, a clean and clear entrance, plenty of parking and street traffic. You've done your homework. Your products and/or services are priced correctly and you have a superior business model to your competitors. So why aren't customers beating a path to your door? 

How easy is it for your customers to find you?  Are you hanging out where your customers are looking?  And do you know where that is?  

Long gone are the days of the yellow pages.  Your customers likely go straight to the Internet to find you…learn more about you…and read reviews from others that have used your services—ALL OF THIS BEFORE THEY EVEN PICK UP THE PHONE TO CALL YOU. 

Being successful online means creating a clear and easy path for your customers—beginning at Google or Bing or Yahoo (or any other search engine they use) and ending at your front door (online, this is your WEBSITE!).  

There are several tools you can use to create this clear and easy path…one of which is VIDEO. 

Here are 5 good reasons to use VIDEO to boost your business, according to Lisa Keating, Owner of Encino Mom Productions.

I probably don't need to tell you how important it is to have a sound business plan...and marketing plan...and communications plan.  And since you're all successful business owners...I'm sure you can check these all off your list, right? 

But, have you ever considered how important it is to have a sound financial plan? 

This might just be the most overlooked strategic growth plan for your business.

I spent some time interviewing Shannah L. Compton, Partner, with SLC Insurance Services.  I thought you could benefit from her advice.

Heidi:
What is the #1 mistake you see business owners make with their financial plan?

Shannah:
It’s really difficult to boil this question down to only one answer. However, if I had to point out just one common mistake, I would say that your question exposes the answer- that is that most business owners forget the importance of a financial plan and operate for years with a lack of one.

Most business owners have a CPA and an Attorney, but tend to put the financial planner on the backburner until a crisis emerges. Simply put, a financial plan is as important to a company’s success as a business or marketing plan.

Digging a bit deeper, most business owners who do have a financial plan often overlook some of the most critical components of the plan which are:

a) Insuring their most valuable asset- their ability to earn an income. We insure our cars, our homes, our boats, etc., but most business owners often overlook their most important asset- their paycheck. A Paycheck Protection Plan should be the first building block to a solid financial plan.

b) A business succession plan for what happens to the business if something happens to you is equally as important. You’ve worked hard to build your business. I am sure the last thing you would want to happen should you retire, become disabled, or have an early demise is that your business would not carry on. There are many different ways to create a customized, cost-effective, succession plan to ensure that your hard work will continue to flourish for generations.