StacyKinney.com » marketing strategy

5 Secrets to Running a Successful Home Based Business

stacykinney — Thu, 02 Dec 2010 20:49:03 +0000

Taking the leap from cubicle slave to home based business entrepreneur?

Judging by the statistics published by the Small Business Administration, it would seem that running a successful home based business is an impossible task. After all, only two-thirds of businesses established each year make it to their two year anniversary. If you are one of the lucky ones who survive, then you will only have a 44% chance of still being in business after five years.

But don’t let those numbers discourage you from taking the leap from cubicle slave to entrepreneur. Being in control of your time and income is a worthy reward that far outweighs the risks associated with going out on your own. Here are the five secrets to building a successful home based business that will help you and your business beat the odds.

Tips for Home Based Business Success

Sell Products People Want

Have you ever heard of the Thirsty Dog! Brand of bottled water? Don’t feel bad if you haven’t. It was specially flavored bottled water marketed to dog owners for their pets to drink. The problem was that the majority of dog owners thought buying bottled water for their dog was a colossal waste of money and the product bombed.

One component of building a successful home based business is selling something people want to buy. Before wasting both your time and money, study the market to make sure there is a need for what you have.

Make it Easy for Customers to Buy

People want to buy from you. They really do. They just don’t want to have to jump through hoops in order to do so. Some businesses will scare away customers by throwing up unnecessary roadblocks that interrupt the selling process. These roadblocks can be anything from unfavorable payment terms to a convoluted check out process.

You want the pathway to a customer purchase to be as smooth as possible. The more difficult it is for customers to buy from you, the easier it is for them to walk away; taking your dreams of having a successful home based business with them.

Market Your Business Effectively

Building a successful home based business requires that you have the right kind of customers; people who want to buy. It is important to attract these customers using a marketing strategy designed to get them to come to you with their money.

One effective marketing technique is to give something away for free. For example, if you sell cosmetics, hosting a free class on makeup application benefits you two-fold. First, you’re presented with an opportunity to sell. Second, sharing your knowledge demonstrates your expertise and customers are more likely to buy from professionals who know what they are doing.

Track Your Progress in Your Home Based Business

Monitoring and measuring the results of the actions you take in your business is a great way to ensure that you stay on target. It also helps you to identify trends so you can make valuable changes that benefit you and grow your business.

For example, if you sell organic dog treats and find that you get a lot of orders from veterinary clinics and dog kennels than you do from individual customers, setting yourself up as a wholesaler would probably be a good move.

Develop Multiple Streams of Income

If you look at others who own a successful home based business that have been around for awhile, you will find that the majority of them have developed several ways to generate income. They do this to protect themselves against the natural business cycle where demand for their products may be high one moment and low the next.

Developing multiple streams of income ensures that, if the need for one of your products or services hits a low point, you will still have enough money to support your home based business until demand increases again.

It’s a challenge to build a successful home based business but doing so can be rewarding both personally and financially. Use these five secrets to ensure your business thrives and and sticks around long enough for you to reap the rewards of your efforts.

Visit my archives for more home based business success tips.

Tips for Marketing on LinkedIn Pt. 2

stacykinney — Tue, 03 Aug 2010 18:26:16 +0000

Follow Up to Previous Marketing on LinkedIn Article

Last week, I wrote an article detailing how you can start marketing on LinkedIn by pimping out your LinkedIn profile to make it more attractive to prospects. This week, I’m going to show you a few different ways you can begin attracting people to your business by connecting with them on this frequently overlooked social networking website.

MLM Businesses – How Many is Too Many?

stacykinney — Wed, 09 Jun 2010 21:27:34 +0000

Are You Hoarding MLM Businesses?

There is something that has had me scratching my head for awhile and wondering about the thoughts that go through people’s minds. Some business owners I have met are running multiple mlm businesses and sometimes in addition to a full time job. It is one thing to want to maximize your earning potential but how many is too many?

Although it seems like a good idea on paper, running multiple mlm businesses is actually counterproductive. First, you are splitting up your time, energy and resources between multiple projects. That’s like attempting to talk on your home phone and your cell phone at the same time. You can’t really give your full attention to either conversation and you actually spend more time trying to complete both conversations than you would if you focused on having one at a time.

Multiple MLM Businesses Breeds Confusion

Another reason trying to build multiple mlm businesses at the same time is probably not a good idea is because of the possible confusion that may result as you attempt to market yourself. When you meet a prospect how will you determine which business opportunity to pitch to them? If they show no interest in one opportunity will you then launch into a sales pitch about your “other” opportunity? It is already difficult to engage people enough to sit through one sales presentation. It is highly unlikely that a prospect is going to allow you to continue to take up their time with another one.

Are You Allowed Multiple MLM Businesses

Lastly, you may want to check your contract with your network marketing company for possible non-compete clauses. Some of these network marketing companies are competing fiercely with each other and will not tolerate a network marketer concurrently promoting another mlm business in the same industry. Doing so can result in you having both of your mlm businesses taken away by the parent companies and sued for damages. Not to mention the hit to your credibility as you attempt to sell competing products to the same people in your social network.

Now I want to make it clear that I do not oppose owning more than one business. I firmly believe that financial security requires that you have multiple streams of income flowing into your bank account. That way if one stream fizzles out, you have several others that will take care of your needs until you find something to replace it.

However, I also believe in being smart about your business development. Work on building one business to a successful level before jumping into another one. When you are focused 100% on what you are doing, you’ll communicate your vision more effectively, connect better with prospects, and spot opportunities quicker. Which all means you will achieve success much faster.

If you are starting multiple mlm businesses because you are not experiencing the success you want or none of them are providing you with what you need to succeed, then read a few articles on this blog for ideas on what you can do to kick start your business.

Download my free social media checklist (sign up in sidebar) for a daily to do list of all the things you need to do to increase your following. For personalized help, contact me for a free consultation on the best way to market your MLM businesses online including using Twitter and other internet business tools.

Social Media Marketing – Using Social Media to Increase Website Traffic

stacykinney — Tue, 16 Mar 2010 13:02:28 +0000

Increase Traffic with Social Media Marketing

As an internet business owner, getting traffic to your website is an important component for generating sales and leads. It’s really all about the numbers. The more people you attract to your website, the higher the likelihood that you will make a sale or convert a prospect. Social media marketing can help you increase website traffic by getting your name in front of as many people as possible as well as boost your search engine rankings.

Here are a few suggestions for using social media marketing tools to increase website traffic:

Social Media Marketing Tips

Create Profiles at the Major Sites – Your first step to social media marketing success is to build profiles at the major social networking sites such as Twitter, Facebook and LinkedIn. These sites provide a platform for you to network with people who may be interested in your business. Don’t forget to include links to your website. Facebook and LinkedIn specifically allow you to submit the RSS feed of your blog which will help generate website traffic from people visiting your profile.

Bookmark Yourself – Another social media marketing tactic to get traffic to your website is to submit links to your website and articles to social bookmarking sites such as Delicious, Reddit, Digg, StumbleUpon and Blinklist. When submitting sites, be sure to write an attention grabbing headline and description as well as use general and specific tags to categorize the material so it appeals to your target audience.

Submit Content to Targeted Social Sites – There are a number of social media sites and forums that cater to specific audiences. Many of them allow you to submit original content that is useful to the members. Submitting posts that tap into the needs of the community is a good way to get more website traffic. Be sure to close your articles with a strong call to action that directs the reader to your website.

Use Social Media Marketing Widgets – Your website should be outfitted with bookmarking widgets that allows visitors to submit your site and content to their favorite social media websites. WordPress has a number of plugins such as Tweetmeme, Sexy Bookmarks and OnlyWire that visitors can use to promote your website and increase your website traffic. If you don’t have a blog, or don’t use WordPress, tools like ShareThis and AddThis will work on any website.

Interact with Prospects – Possible the best social media marketing tactic you can use to get traffic to your website is to socialize with people. While the previous suggestions will help you spread your name around, you’ll make yourself more memorable if you actually interact with the members of these websites. You don’t have to have to be active at all of them. Pick one or two that you enjoy using and just starting connecting with people. Show an interest in what they have going on. Not only will you convert a prospect but you’ll make a friend and that is what social networking is all about.

Learn How Tweetbeep and Tweetburner Could Help You on Twitter

stacykinney — Tue, 09 Feb 2010 15:30:06 +0000

Two Twitter Tools

Tweetbeep and Tweetburner will help you identify people with like interest on Twitter & tracking for your business

Two great tools to help identify people with like interests & tracking for your business.

TweetBeep

TweetBurner

Use Twellow to Find Your Target Market on Twitter

stacykinney — Wed, 06 Jan 2010 15:30:37 +0000

Use Twellow to find your Target market on Twitter

Twellow lets you find people on Twitter by location and category as well as find people that have your same interests.

Be sure to register so that you are listed in the directory and put yourself in categories like Green, Eco, Music, etc. This way people can find you by category. Then you will want to go and search for people in these categories and follow them.

Create free, customizable Twitter backgrounds using TwitBacks.com

stacykinney — Sat, 02 Jan 2010 20:30:41 +0000

Twitter Backgrounds with TwitBacks and Picnik

Easily create free, customizable twitter backgrounds using TwitBacks.com. Choose from over 70 pre-designed templates, add your logo and photo, add a bio about yourself and links to your social network profiles. When done you are given an option to enhance it with Picnik.

Increase Sales in Your Network Marketing Business the Easy Way

stacykinney — Mon, 07 Dec 2009 08:00:21 +0000

As an ecommerce business owner, I know how challenging it can be to increase sales. I also know how frustrating it is when you invest hours upon hours of work into your network marketing business and it still fails to achieve the financial results you want. To help you turn things around in your business, I’m going to show you how to increase sales with a simple but powerful method successful marketers have been using for decades.

You must first understand that your customers only listen to one radio station when considering any product or opportunity; WIIFM, ‘What’s In It For Me’. Now you may be thinking to yourself, “My product is the best thing since mankind discovered fire! It does this extraordinary thing, has these fantastic options and comes in 900 colors. How can my customer not see how horribly inadequate their life is without this product?”

Get people to shop til they drop.

The fact is, your product may have some great features but, in order to convince your customer to buy it, you must translate those features into the tangible benefits they want. Therefore, the secret to increasing sales in your network marketing business is to show your customers how your product fits their needs.

Determine the Features

The first step to using the WIIFM method to increase sales is to list all of your product’s features. For example, I own an online shopping portal that saves people money and time when they use it to make their every day purchases. Two attributes of my shopping website are: it has over 500 major retailers and I offer shopping webinars.

Of course, my shopping website has tons of features and, I’m sure, the products in your network marketing business do too so be sure to list them all.

Detail the Advantages

Next, beside each specific feature, write down the advantage that particular attribute gives to the product. Using my online shopping business again, the advantage to having over 500 retailers means shoppers have a good variety of stores to choose from and the shopping webinars teach people how to make effective use of the site.

Tie Them Together

Lastly, to encourage people to buy and, in turn, increase sales in your network marketing business, you now have to show your customers how your product’s features fulfill their needs. Take some time to think about what is important to your customers and then tie the advantages of your product to what they value most.

My customers all have their favorite store to shop in, so having a lot of major retailers in my internet shopping mall means they are able to shop at the stores they know and love. My customers also like saving money, hence the shopping webinars show them how to find the best deals that puts cash in their pockets.

When you sell the benefits of your products rather than the features, you are almost guaranteed to increase sales in your network marketing business. I make good money selling the ease and convenience of online shopping. Visit Rock Your Business Online to get a FREE home business checklist & to learn more about how you can make money showing other people how to save money shopping online.

(photo credit: ppo @ flickr)

3 Important Questions to Ask When Creating Your Personal Brand

stacykinney — Mon, 26 Oct 2009 18:10:45 +0000

A Personal Brand Attracts People to YOU

Creating a compelling personal brand is a vital component to building a successful business. In a time when more and more people are starting their own businesses as a result of a job loss, it is important that you do something to stand out from the crowd. Developing your personal brand will give you the edge you need to cut through the noise and grab the attention of your customer.

Unlike a business brand, which is the story of your company, your personal brand is the story of you. It is the image that pops up in people’s minds when they hear your name. Whether you realize it or not, you already have a personal brand. Ask any of your friends, family or business associates what they think of you and they will tell you exactly what your personal brand stands for.

Your personal brand is not only your perception of yourself but also how others perceive your. The problem is that you may not have ever taken the time to actively and consciously develop your personal brand. As a result, you end up with an image that may not reflect who you truly are.

Your personal brand has an enormous effect on whether or not someone wants to do business or be associated with you. Therefore it is important that you take the time to develop a personal brand that attracts rather than repels. But before you can actually develop your brand, you must figure out what your brand is.

How to Determine What Your Personal Brand Is

To discover what your brand is, take out a notebook and write down the answers to these three questions.

What are your core values and beliefs?

Your values and beliefs influence everything you do. From the style of clothes you wear, to the way you handle compliments to how you react to getting cut off in traffic. You could say that your personal brand is the tangible result of all the things you believe about yourself and life in general.

Therefore it is important to sit down and think about what those values and beliefs are especially the ones that determine how you interact with others. This will go a long way towards helping you determine what your personal brand is now as well as what you want it to be.

How are you unique?

In other words, what makes you different from the other people in your field? This could be a unique perspective about your industry or a particular skill set that enhances your ability to get the job done. Distinguishing yourself from everyone else requires that you highlight those differences that make you who you are.

How do you want people to perceive your personal brand?

As much as we’d like to deny it, our reputation is based as much on what other people have to say about us as what we have to say about ourselves. That doesn’t mean, however, that you can’t take control of the conversation and have people saying the right things about you.

Determine the personal brand you want to have. This will be immensely helpful in developing strategies that gets others saying the things you want them to say about you.

A personal brand isn’t an exclusive tool for celebrities and rock stars to use to sell more movies tickets and records. It is something you can also use to help you build a successful business.

Generate an Endless Supply of Customers by Using Social Media to Market Your Brand

stacykinney — Sun, 27 Sep 2009 21:25:22 +0000

Generate an Endless Supply of Customers by Using Social Media Marketing

Promoting your brand with a social media marketing campaign focused on addressing the needs of your target audience is an almost guaranteed way of driving customers to your business.

Before the internet came around, the only way to reach potential customers was to either advertise on the media outlets available at the time – i.e. newspapers, television and radio – or to directly connect with them by interrupting their day with a telemarketing call or approaching them on the street.

These days, however, social media has turned the sales process upside down and inside out. Customers hate being sold to and thus are resistant to the outdated sales tactics, such as cold calling, still being used today. Customers know what they need and use social media to seek out people they can trust to help them. Therefore running a social media marketing campaign has become a necessity for successfully attracting these customers to you.

Social media marketing is the art of promoting yourself and your brand on social networking websites. It is different from other forms of marketing because social media is dynamic and offers the opportunity for quick success. Social media marketing is also inexpensive and gives you the ability to leverage the popularity of the social networking site to get your brand in front of a large audience.

In order to use social media marketing effectively, you must first have a brand to promote. Without a properly formed brand, your marketing campaign will be unfocused and may fail to attract the customers you want.

Your brand is your story on a bumper sticker. It is the image that pops up in your customer’s mind when they hear your name. Take advantage of the innumerable resources on the internet to help you figure out what your brand is and why people should be attracted to it.

A second necessary component to successful social media marketing is knowing who your target market is.

Though it sounds counter-intuitive, you don’t want everybody in the world to be your customer. You only need the people who want, and can afford, to do business with you. Focusing on only attracting those in your target market will make it easier for you to design a campaign that reels them in.

It goes without saying that promoting your brand with social media marketing requires that you be active on social networking websites. You’ll want to focus on working a few popular sites rather try to be active on all of them. You don’t want to spread yourself too thin and once people get to know you, they’ll spread your message to those other sites for you anyway.

The bulk of your social media marketing efforts will focus on interacting with the members of the site. You want to actively engage your target market by sharing useful information that is in line with their needs as well as respond to things that they share on site.

Last but not least, make sure your brand’s physical presence is consistent wherever it appears. This means the information about you should be the same on each site including image you use to represent yourself and you should customize your social media profiles to reflect your brand wherever possible.

Social media marketing is a tool that no internet marketing strategy should be without. Just remember to focus on addressing the needs of your target audience and you will find your business overflowing with customers in no time.