Legacy Foundation Business and Leadership

Archive for September, 2011

Perhaps you have followed the trend in business to create an internet web site for your business that can be used to supplement your marketing efforts.  If so, you have joined the momentum to create a corresponding “place” in cyberspace that can be used to reach customers online.  The need for such an internet presence is entirely market driven.  Internet sales have soared, particularly in certain market segments and more and more, the first place people go to in order to learn about your business is the internet.  If they find a well designed web site that is full of features, that works fast and draws them in, that can be a tremendous tool for promoting your business.

When you set up a marketing tool outside of cyberspace, the first concern is how will that new marketing effort get noticed.  So we are drawn to places where there is already an active traffic of people who would qualify as our customers.  That may mean putting up a billboard where it will be seen by people going to work.  That target audience may be the best population to respond to your message.  Or if your business appeals to youth, advertising on MTV or on popular radio stations is a natural place to put your marketing money because the traffic is already there.

We have to approach the internet differently.   Yes, the traffic is already there but we have to enter the world of cyberspace marketing with a different kind of strategy so we can reach the customers who are traveling certain “internet roads” and make sure those roads lead to our web site.

There is whole a cottage industry that has sprung up around the need for knowledgeable internet marketing gurus.  And, yes, it’s a good idea to use their talents to make sure the search engines put your web site in front of the right kind of client or customer.  These talented internet geeks can put your business web site into the flow of web surfers so you get your fair share of that traffic.

That said, you don’t have to wait for the internet marketing experts to make your web site more successful.   If the business has made the effort to put that web site up, you want to see it start to pay off right away.  That is why you should consider some creative ways to drive people to your web site from your traditional markets thus educating your current customers, clients and partners about the site.  Ways to do that include…

§    Promote the web site at the retail level.  Some creative signage at your retail locations can create some momentum and interest in customers to go see your exciting new web site.

§    Put the link on all correspondence.  If you have flyers, a magazine or other current means of communications, your URL should always be listed there.  Add your URL to your email signature and on business cards and all other forms of communication so your community of clients, customers and partners get used to associating that web site with you as much as they do your business name.

§    Create excitement.  It is easy to operate a business contest from your retail sites that drives people to the web site for clues or to claim their winnings.  That kind of momentum can create huge surges of traffic through your web site with the corresponding surge of sales and leads.

The modern customer or client is used to seeing the promotion of a web site included with other forms of promotion and advertising.  You are not “assaulting” your customer base with this information. If anything, when your audience sees that the business has burst into the cyberspace world in a big way, they will be thrilled and as likely to respond with, “It’s about time.”.

You know how much you depend on the internet to keep you informed about areas of interest and about businesses you like to patronize.  So you can see that not only putting up a good web site but letting people know that it is there and that there are big things there for them to enjoy is doing them a favor as much as it is creating new marketing opportunities for your business.

If you were to tell someone that they can have a certain item for free, more than likely their response would be, “what’s the catch?” In the case of credit reports there is no catch, you can now get a free copy of this report through the three credit reporting agencies: Equifax, TransUnions, and Experian. Let’s take a look at the law and how you can benefit from it.

An amendment to the federal Fair Credit Reporting Act (FCRA) requires the three national credit reporting agencies to provide one free copy of your credit report to you annually. Beginning on December 1, 2004 and culminating on September 1, 2005, the Federal Trade Commission is requiring that these agencies offer reports on a rolling, phase in basis. In other words, on December 1, 2004, if you live in certain western states you became eligible at that time and every three months later additional states were added. By September 1, 2005, residents of all states are eligible.

Fortunately for consumers, you need not contact the three reporting agencies separately to obtain your free credit report. You can order right online at www.annualcreditreport.com; or by calling 877-322-8228; or by completing the Annual Credit Report Request Form and mailing it:

Annual Credit Report Request Service<br>
P.O. Box 105281<br>
Atlanta, GA 30348-5281

The form is available online where you can print it out and mail it in: www.ftc.gov/credit.

If you need copies more often, you can contact the three reporting agencies and request copies. You will pay for this service.

<b>To buy a copy of your report, contact:

Equifax</b><br>
800-685-1111<br>
www.equifax.com

<b>Experian</b><br>
888-EXPERIAN (888-397-3742)<br>
www.experian.com

<b>Trans Union</b><br>
800-916-8800<br>
www.transunion.com

There are also private companies who will obtain all three copies of your credit report for you as well. There is a fee involved, but you may find their services to be less of a hassle than contacting the three companies separately.

So, how can you benefit from the law? By ordering copies of your reports from the companies on a four month rotating basis. Most consumers will find this plan to be sufficient and it will allow for you to compare/contrast the reports of each agency. Of course, if you already suspect fraud you will want to order all three reports at once and notify each agency to place a “fraud alert” in your credit file.

All in all, the new law is a big win for consumers. Take advantage of this “windfall” as soon as you become eligible to do so.

When you are ready to start up a business, a new business development strategy is something that will be first proposed to you. While it is true that a few businesses can subsist without having a business plan in place, it’s likely that they are not doing as well as those who have a plan. Without proper direction and guidance, it’s nearly impossible to execute new business development strategies. Business plans provide the appropriate guidance and direction. This is something that every business strategy consultant  will tell you right off the bat.

Business strategy development therefore becomes crucial when it comes to the planning stages of any given business. A solid plan must prove to investors that your venture is going to be successful enough to equal the investment they originally made and then prosper enough so they are given an ample return on that investment. They will expect to see intelligent strategies in the new business development, report and something that can convey them to invest in your products or services. You are going to have a greater chance of being successful with a plan that is clear, fluent and rational and with a vision that is comprehensive. This overview should provide you a rough estimate on how to compose your plan, but note that it is without a doubt more detailed and complicated than just a blog posting can express. Make sure you determine your consultant properly and research them thoroughly. You don’t want to be stuck with someone inexperienced and unprofessional.