SME Strategic Marketing 101 Conference

Here is another collaboration bet of Go Negosyo and Philippine Marketing Association (PMA) the SME Strategic Marketing 101 Conference. Please find the banner above for details.

Business Opportunity Grant Contest from British Airways

The British Airways has always been doing a link so that transacting business on anywhere in the world would be so easy and comfortable. They serve mostly the businessmen traveling to have a face-to-face meet up with business partners and clients. British Airways always believes on the power of a face-to-face interaction in business leads to a more firm transaction and most often a sealed one. Recently, they partnered with The Harvard Business Review in a collaborative research and the study shows that 87% of professionals think that face-to-face meetings are essential for sealing the deal, while 95% said it's the key to successful, long lasting business relationships. In the wake of the global recession, businesses have cut back on travel. However, in-person meetings and interaction remain an integral part of growing and sustaining business. The problem is that while people realize there is value in face-to-face meetings, they may not be fully aware with how critical they are to sealing the deal and building relationships. They also may lack the proper backing to justify travel costs.

British Airways is proud to announce its Business Opportunity Grant. This will help people connecting business anywhere in the world and affirms the airways commitments. They are giving away 100 companies, a year of opportunity. Known for its support to small businesses, each grant consists of a year’s worth of Business Class travel anywhere British Airways flies. Additionally, each winning company will receive business support from their partners. These have been conceived with the aid of the collaborative research done by The Harvard Business Review that asserts the power of a face-to-face transaction in a business.

Businesses and companies especially here in the Philippines must be aware of this secret in business. You must try the Business Opportunity Grant of British Airways and experience the power of face-to-face transaction with the comfort of all-in packages. It is so easy to join the contest, simply apply by September 30th by telling them about your company and answering a few short questions about your objectives for 2010 and how a grant would help grow your business. Should your company win, you will have all of 2010 to turn your grant into new business opportunities. Good luck.



To sum it up, the Grant includes:

• British Airways airfare for 10 round-trip Club World business class flights.
• 5 free British Airways World Cargo freight shipments of up to 500 kilos to worldwide destinations
• $1000 toward accommodation at Courtyard by Marriott
• 5 Regus Businessworld Gold Cards providing access to business lounges worldwide
• Canon PIXMA MX860 Wireless Office All-In-One Printer

HOW TO DEAL WITH BOTH LOCAL AND FOREIGN DINERS

Do you treat a Caucasian diner the same way you would a Japanese? How do you get Thais to patronize your Tom Yum soup? Here are some tips for dealing with customers of different cultures:

CAUCASIANS: are wise spenders, always hungry for good food and unique dining experiences. Europeans and Americans tend to be very particular about wine lists, so attract them with extensive offerings.

INDIANS: spend less, so they respond well to value-for-money offerings. Throwing in freebies is the way to go.

JAPANESE: spend more and are more daring with their choices. They are very particular about the freshness of their ingredients.

THAI: like having chefs from their country. When you are able to prepare their food with utmost authenticity, they appreciate it.

PINOYS: are average spenders. They won’t binge like there’s no tomorrow, but they try stuff they find interesting. They usually ask their server for recommendations, so make sure your staff is well-versed on your menu. 

COST-CUTTING IN THE FACE OF CRISIS

Businessmen used to follow the adage, “You need to spend money to make money,” but now that times are getting hard, ask yourself the following every time you consider taking on an expense:

■ Does it add value to the business?

■ If I hire this person, will my sales increase?

■ If I buy this piece of equipment, will it increase productivity?

Your answers to these will start you on the road to lower overhead costs.

Other ways you can avoid wasteful spending:

■ Keep an eye on your cash. This includes proper bookkeeping and constantly updating your cash flow statement and projection. Doing this may not necessarily prevent poor choices on how your money is spent, but at least you are planning for expenditures.

■ Lease instead of buy; if it’s really unavoidable, buy used equipment. However, be mindful of potential maintenance and/or upgrade costs.

■ Extend terms with suppliers to negotiate better rates.

Now, regarding your question about how to attract more customers, here are some low-cost ways to promote your business:

■ Go online. Social networking sites like Multiply (www.multiply.com) and Facebook (www.facebook.com), as well as blog sites like Blogger (www.blogger.com) and Wordpress (www.wordpress.com), are so user-friendly that you do not need knowledge in HTML to make your own webpage. These websites allow you to upload photos and videos with ease. You can even post announcements about your business.

■ Use buddy promotion. If you send out brochures, you could include a leaflet and/or business card of another business, which had agreed to do the same for you. This gives you the chance to reach a whole new pool of potential customers. Just make sure your products and services complement each other.

■ Give out discounts to those who pay in full or in advance. This will also help improve your cash flow.

Good luck with your business , and do update us from time to time on how you are doing.

MORE AND MORE PEOPLE NOW SHOPPING ONLINE

If your retail store is experiencing a sales slump this year, maybe it’s time you started selling your products on the Web.

According to a recent global survey conducted by The Nielsen Company, over 85 percent of the world’s online population has used the Internet to make a purchase, up 40 percent from two years ago.

Even more encouraging—more than half of Internet users are regular online shoppers, making online purchases at least once a month.

When The Nielsen Company conducted its first survey into online shopping habits two years ago, only 10 percent of the world’s online population (627 million) had made a purchase over the Internet. Within two years, this number has surged by approximately 40 percent — to a staggering 875 million.

“The Internet is no longer a niche technology —it is mass media and an utterly integral part of modern life...As our lives become more fractured and cluttered, it isn’t surprising that consumers turn to the unrivalled convenience of the Internet when it comes to...buying products,” said Jonathan Carson, President, International, Nielsen Online.

OTHER FINDINGS FROM THE REPORT:

Globally, the most popular and purchased items over the Internet are Books (41% purchased in the past three months), Clothing/Accessories/Shoes (36%), Videos/DVDs/ Games (24%), Airline Tickets (24%) and Electronic Equipment (23%).

In fact, the number of Internet consumers buying books over the Internet has increased seven percent in the past two years but the biggest increase has been in Clothing /Accessories/Shoes which increased from 20 percent to 36 percent. “Some of the biggest buyers of books on the Internet are from developing countries—China, Brazil, Vietnam and Egypt—indicating massive growth potential for online retailers that can specifically target these fast-growing markets,” said Carson. 

WANT NEW WAYS TO ATTRACT MORE CUSTOMERS? TRY TIE - UPS!

Horizontal marketing is a clever and cost-efficient way to extend your reach

What do the following have in common: a restaurant, a museum, a department store, and a clothing label? Would you believe—their customers!

Late last year, customers of high-end retail chain Rustan’s department store were given a catalog for imported clothing brand Banana Republic, which included a coupon that offered a 15 percent discount on any Banana Republic purchase worth 10,000. While this cross-promotion is understandable, given that Rustan’s and Store Specialists, Inc. (the company that brought in Banana Republic) are sister companies, customers also received a promotional coupon for the Chef Laudico Bistro Filipino restaurant at The Bonifacio Global City in Taguig, as well as a discount coupon for the Ayala Museum in Makati.

Such is an example of horizontal marketing, defined as when two (or more) companies producing different products but with similar target audiences combine marketing efforts.

WHY IT WORKS

People buy different things all the time—from socks to party dresses, from toiletries to perfume. It therefore makes sense to forge alliances with companies that sell products complementary—not necessarily similar—to yours.

When executed properly, horizontal marketing can be a boon even to small businesses:

■ It can be an effective way for a business to increase customers without significant additional marketing investment. For example, when neighboring businesses hold an event, i.e. a sidewalk sale, they will only be responsible for a fraction of the overall marketing investment.

■ Such alliances allow/encourage different organizations to share their expertise and give each other access to new customer segments. You see this around you all the time: kiddie photography studios tie-up with children’s clothes and accessories stores, gyms tie-up with health food stores or spas, and appliance repair centers collaborate with home cleaning companies.

■ Small businesses with little or no brand identity can boost their image by offering bigger, more established brands some type of promotion for their customers. For example, if you own a dessert café, offer the well-known bookstore in your area a ton of “Free dessert!” coupons. The big bookstore may accept it because it’s a free gift, so when they hand it out, not only do you get an implied “endorsement,” but also access to all the customers looking for a place to snack after a day of shopping. The increased traffic will likely cover the discounts you offer.

CREATE A WINNING STRATEGY

Here are some ways you can make your horizontal marketing program a success:

■ BE A FRIEND FIRST. Don’t be in such a hurry to snag those customers that you offer a tepid promotion. Instead, have the customer’s experience in mind when you band together with other companies, so avoid piece-meal efforts. What other products or services would your clients like to receive? What would give them a compelling reason to ‘might as well try’ a new thing? Then pitch your ideas to your neighbors. For example, if you are a bookstore and are next door to a restaurant and an accessories shop, why not organize a “Children’s Fair”—you host a storytelling session, the restaurant sponsors the snacks, and the accessories shop takes care of the decorations and giveaways. It’s a win-win situation for all—even for the parents and the children.

■ EMPHASIZE ‘WHAT UNITES US’. Rally your fellow restaurateurs to organize a breakfast buffet for a cause; collaborate with fellow organic food enthusiasts to hold a fitness festival; get pet store owners to help advertise a “Pet Blessing Day.”

SOMETHING TO THINK ABOUT

Horizontal marketing is essentially collaborating with a business that complements yours, but be sure you have studied all possibilities and scenarios before entering into the relationship. Doing business with someone who may have a personality or management style different from yours may also compound matters. But as long as everything is handled professionally, you and your partner can count on stretching your marketing budgets further than ever. ●BY JEMPS GALLEGOS & JACLYN LUTANCO-CHUA

ADVERTISE for LESS

8 inexpensive but effective ways to promote your business

There are a number of ways an entrepreneur can make his business known without shelling out so much cash.

1. EMPLOY WORD-OF-MOUTH MARKETING
A recommendation from a friend is the most trusted source of information when making a purchase decision. So generate positive conversations about your product by taking advantage of social net sites like friendster and facebook, or blogging and twittering.

2. INVEST IN A WEBSITE
A website is a big plus since aside from publishing prices and information, viewers also get to see what the products look like without having to venture all the way to your store. Include your website address in the flyers that you give.

3. GIVE OUT FREEBIES
Example is you include in your flyers a free taste that the customers can claim to your store, that is for food business.

4. USE COMPANY TOOLS
If you use a car or van for your business, you can use this as your very own moving billboard - for free!. Other things you can place your brand on: packaging materials and even uniforms.

5. JOIN BAZAARS AND TRADE FAIRS
You may shell out a bit more cash for this, but it allows you to display your products and enables clients to place orders on tye spot. Provide a guest book so that you can get in touch with your prospect clients even if the exhibit is over. If the booth rentals too costly for you find another entrepreneur to share booth space with.

6. SEND OUT FLYERS

7. GET MEDIA EXPOSURE
Simply send samples of your products or invite the media to try out your services for free; if they like the experience, they will be more than happy to put in a good word for you when the opportuniy comes up.

8. SPONSOR TV SHOWS
You don't have to take out an ad to appear in a tv show; some are actually open to ex-deals. You can simply provide food for the staff and crew of the show (i.e.Umagang Kay Ganda, Sis, Unang Hirit, 24 Oras, TV Patrol, etc) in exchange, either your company name will be mentioned or your logo will be flashed on air. It's very effective. GMA 7 at (632) 982 - 7777 and ABS-CBN at (632) 924 - 4101.

8 WAYS TO RAISE FUNDS FOR YOUR BUSINESS

Many people are afraid to go into business because they don't want to gamble their life savings away; the good news is you don't have to.
There are many financial alternatives that entrepreneurs can avail of; in fact banks are mandated by law to allocate at least 8 percent of their net lending portfolio to small businesses. With that piece of encouraging news in mind, here are a few ways to obtain capital for your business:

1. TAKE OUT A PERSONAL LOAN
2. OBTAIN A BANK LOAN
3. ENTER INTO A JOINT VENTURE
4. USE CREDIT CARDS
5. AVAIL OF CHECK REDISCOUNTING
6. TRY CONSIGNING
7. LIQUIDATE PORTFOLIO INVESTMENTS
8. TAP A VENTURE CAPITALIST

source: Masigasig Magazine August 2008 issue

Ring in the Season: 8 WAYS TO PREPARE YOUR RETAIL BUSINESS FOR THE CHRISTMAS RUSH

1. Good forecasting.

2. Coordinate with your suppliers.

3. That said, make sure you order enough- and the right kind - of stocks.

4. Organize your delivery system.

5. Dress up your store.

6. Beef up your staff.

7. Give out promos.

8. Clean up.

HAGGLING DOs and DON'Ts

• Whether you're a customer or supplier, be courteous and friendly, but firm. Know how to sweet-talk your way into a deal.

• This applies for customers and suppliers as well: Don't be too serious; have a sense of humor. If they like you, you will almost always get a better deal. You can even make friends.

• Buying from a supplier? Know when to accept an offer. Don't waste time (or the seller's time) bargaining if you have no intentions of buying.

• Master the art of conversing with clients. Experience is the best teacher of all, so suppliers should deal with clients personally.
  

ICE CREAM BUSINESS IDEAS

Selling ice cream is a good business to get into because people for all ages love it, regardless of income segment. However, it is by nature a seasonal product; sales usually dip during the cold season like this Christmas and rainy months, so you must think about expanding your offerings.
The good news is there are many kinds of ice cream. These include but are not limited to:

1. Premium or super - premium ice cream.


2. Organic or all - natural ice cream. You use only organic ingredients


3. Exotic ice cream. Durian flavored ice cream? Wasabi ice cream?Hehehe

4. Soft - serve ice cream. Examples are Mr. Softy and Creamy D'Lite

5. Gelato. Italian ice cream made from liquid, milk or water; solod, sugar, fats or sweeteners; flavorings, pastes, fruit powders; stabilizers, guar gum, locust bean, etc.; emulsifiers, mono- and digylcerides; and air.

6. Sherbert or sorbet

7. Frozen yogurt

8. Frozen custard

9. Other products and services you can offer through your ice cream shop include:
* Ice cream cakes
* Hosting birthday and other parties in your shop
* Catering services (Providing ice cream and frozen desserts for off-site events)

Business franchises for a young entreps

What are the businesses viable for franchising for a young entrepreneur with a small investment.