Small Business Survival: Wage War on the Competition with New Marketing IdeasIn these difficult economic times, small businesses are closing their doors everyday. But there are a wealth of low-cost or free marketing possibilities still available to aid small business owners.The low-price offers of big retailers like Target and Walmart on items from clothing to electronics in an effort to dominate the market has forced countless small local retailers to shut down. When small businesses lose the competitive battle against these massive companies, hard-working entrepreneurs lose their shirts and irreplaceable establishments are lost by local communities. I live in a remote community of 10,000 people and I have certainly experienced this. It has been a terrible blow to watch people I know suffer. Our community has lost many businesses near-and-dear to our hearts and we are left with few shopping options.So, how is a small business to make its mark n these difficult times?Business owners who run a physical business location are fighting an uphill battle, particularly if they offer anything which is sold by corporate giants. To carve out their own niche in the marketplace, they need to be well-versed in their product or service, endeavor to be unique in their approach while delivering the finest customer service to attract and retain customers. Certainly a massive undertaking, but one that will pay off.Determine what your large competitors don’t offer: that’s where you, as the small business entrepreneur, can find your niche, or your targeted segment of the marketplace.1. It is clear when visiting chain stores that they do not place value on customer service.
2. Every location looks the same.
3. If they don’t carry what you want, there is nothing they can or will do to help you.Find a better way to serve the market in at least 2 and possibly 3 of these ares.1. Provide the FINEST service possible to your customers. Always keep an employee available in the store or at the register to answer questions. Hire friendly and courteous people to answer incoming calls. Try your best to learn the names of your frequent customers and address them by their name. That’s a great way to endear yourself and your business to your customers and will encourage shopper loyalty!2. Make your location a destination-a pleasant place to visit. Paint a mural inside. Provide free water and cups. If you are in the food business, hand out samples. Isn’t it fun to visit Trader Joes to taste the new food they are sampling each day? Setup a comfortable sitting area for people to relax who have come along with their friends to the store. Set aside a little area of the sales floor for a kids corner with toys and possibly a TV or DVD playing. If your customers’ children are being entertained, they will spend more time at the store and visit your business more often. I personally have chosen to shop at a specific store because my children enjoyed coming and I could look forward to a half hour of uninterrupted alone time to concentrate on what I wanted to buy!3. You are hopefully in the business you are in because you are excited about your product or service and interested in helping others learn more about it. Make yourself available to your customers. Give them tips and suggestions. Display signs that say “if you can’t find what you need, let us know and we’ll order it for you.” Now there is something Walmart and Target can’t provide. A personal touch.How Google & The Web Can Expand Your Reach1. Google is pulling out all the stops to entice small local establishments to develop an internet presence. Sign up to be listed on the Google Local service. If you serve a very specific market niche, your website can jump to the top of the search page for Your Town and your exact product or service. Just this easy-to-execute, low-cost marketing strategy can attract plenty of new shoppers.2. For a minimal cost, get listed on local directories and your city’s Chamber of Commerce website.3. Try getting connected to Angie’s List.4. Make sure your business is listed on Yelp with stellar reviews! Yelp has a great reputation among consumers and is a trusted source for finding local business options. Place a link to your website on Yelp and provide directions so those searching on Yelp can find your location. Ask your loyal customers to write a glowing review for your business. You can even create a promotion or coupon that you email to customers when they write a Yelp review for you.5. Setting up a website and keeping it updated is not hard to do or cost-prohibitive. These days, a professional-looking WordPress page can be created in just a few hours. The only expenses include monthly hosting fees and purchasing a domain name. You can use GoDaddy or NameCheap for these services.6. Once you have your domain and site setup, another way to generate income is through affiliate marketing and adding Google AdWords to your site.7. Your company can build an email list by placing an opt-in box on your site. Use the email list to send promotions, special offers and coupons to your customers. This will promote good will and increase customer loyalty.8. Get online visitors, or traffic. To establish a stronghold on the top of the search engines, you need to get a high-ranking and then stay highly ranked so online surfers will come across your website when searching for your particular niche. Some of the factors for staying at the top of Google and other search engines include: the online age of the site, the total backlinks to your site, the price and relevance of your offerings and how often you update the site’s content.
Small Business Marketing Ideas: Discover Your Niche
Differences in the Types of Auctions That Take Place Around the World
Auctions are those events where properties or goods are sold to the highest bidder. Auctions are mostly public events, where bidders make a series of bids and purchase a particular item for a high price. During auctions, bidders decide the price of an item rather than the seller. It depends on bidders to decide the amount they would want to pay for a specific item. During an auction, a bid is a proof of a legal binding. Bidders agree to pay the amount that they have bid. In a high profile auction, bidders may have to pay a deposit in escrow accounts or give a proof that they can pay for those items.
Types of Auctions:
Different types of auctions take place around the world. Below mentioned are some types of auctions:
1. English auction:
This is a basic type of auction. In this type, people can see the item and then start bidding. Bidders slowly raise the value of their bid until everyone gives up. The highest bidder is the winner. An auctioneer manages an auction, keeps records of the on going bid and decides the winner. Sometimes, the seller will quote a minimum amount for an item to the auctioneer, below which the auctioneer cannot sell that item.
2. Dutch auction:
In this type, the auctioneer sets a particular price and then gradually lowers the price. People in public will start bidding and later decide which prices are suitable for the item. A seller may use this type of auction to sell large quantities of same products to the public. For instance, a seller may want to sell a large amount of hay and will thus, decide to sell this hay to people for the same amount, once a reasonable price is decided.
3. Silent auction:
In this type, the bidders in public will present their bids in a sealed format. These sealed bids open at the same time and bidder with the highest bid wins. There could be a modification in this type of auction. The bidders are allotted a specific period to bid. They can roam in a room displaying the items, and write their bids on an associated sheet of paper. The bidders are allowed to see bids of other bidders and can choose a higher price for an item. At the end of the allotted time, bidder with the highest bid is the winner.
Examples of Auctions:
Auctions can be of two types either public or private. Sellers may trade any kind of items in both types of auctions. Some areas where auctions take place are:
1. Antique auction: An antique auction consists of a trade opportunity as well as provides entertainment.
2. Collectable auction: In a collectable auction, the seller may put up collectables like coins, vintage cars, luxury, stamps, real estate, and luxury for sale.
3. Wine auction: In wine auction, bidders can bid for rare wine, which may not be available in retail wine shops.
4. Horse auction: Bidders can bid for young horses of the best breed.
5. Livestock auction: In livestock auction, bidders can buy pigs, sheep, cattle, and other livestock.
The other examples of auctions may not be public. These auctions are for bidders from corporate levels. Some examples of private auctions are:
1. Timber auction
2. Spectrum auction
3. Electricity auction
4. Debit auction
5. Environmental auction
6. Auto auction
7. Electronic market auction
8. Sales of business auction
Bidders in an auction need to examine the items displayed and decide an appropriate price for an item. Thus, auctions help buyers in getting the best deals and in gaining better profits for sellers.
How Important Is the Fundraising Auctioneer to the Success of Your Event?
I want you to think about the term “Fundraising Auction”.
A “Fundraising Auction” is an event where items of value are gathered, and then sold in a competitive bidding situation, either in a Silent Auction format, or in a Live Auction format by a Live Auctioneer. And since typically the best items are saved for the Live Auction, arguably it is the Live Auction that should generate a significant portion of the proceeds in any Fundraising Auction.
So why do so many non-profit groups consider the Fundraising Auctioneer to be the least valuable component in a Fundraising Auction?
The Hosting Facility gets paid.
The Printer gets paid.
The Caterer gets paid.
The Liquor Store gets paid.
The DJ gets paid.
The Florist gets paid.
But the Auctioneer … the individual who is expected to raise the lion’s share of the event’s proceeds… is expected to work for Free. And is usually under-appreciated for the professional services he/she provides.
I’m not trying to underscore the value of the invitations & programs, food, booze, music, and decorations. All are important in their own way. But each of these are “Expenses”. It is the Auctioneer who is going to bring “Revenue”… and thus, the “Profits”… into any event. Which is the ultimate objective of any Fundraising Auction.
Here is a real-life example of how under-appreciated the Auctioneer can be. In two comparable events we worked last year, during the dinner portion of the event one non-profit group sat the Auctioneer (me) at a table with the DJ, the Interns, the Volunteer Staff, and other event “Help”. The 2nd non-profit group sat the Auctioneer (me) directly next to the CEO of their organization, where we chatted about how important the pending revenue would be to their organization. Which group do you think valued the services of the Fundraising Auctioneer more?
Don’t ever under-estimate the value that a professional Fundraising Auctioneer can bring to your event. The Auctioneer adds value as a pre-event consultant. And the Auctioneer can change an event from a moderate to a huge success.
A Case Study Once I was scheduled to call an Auction for a major local non-profit group. They represented a very good cause and they had a strong and dedicated following. Their event was sold out, quality Live & Silent Auction items had been solicited, and the Special Pledge Appeal had been choreographed and was ready to go. The facility was first class, the appropriate caterer was booked, and the food was ready to cook.
But quite unexpectedly, some unseasonably inclement weather forced the event’s cancellation. Despite all of the committee’s hard work, cancelling the event was the proper decision considering the circumstances.
So the Event Committee scrambled to re-schedule the event for the following weekend.
They confirmed with the Hosting Facility.
They confirmed with the Caterer.
They confirmed with the Liquor Store.
They confirmed with the DJ.
They confirmed with the Florist.
Since they already had the Mailing List of those scheduled to attend, no new invitations had to be printed as all were contacted by email or telephone. So with everything in place, the group went ahead and re-scheduled the event for the following weekend.
But guess who they failed to confirm? You got it… the Professional Auctioneer. They thought so little of the Auctioneer’s contribution that they “assumed” that the Auctioneer would be available and at their beck and call.
But the Auctioneer already had another Fundraising Auction booked for that date with another non-profit group. It was only hour away from the re-scheduled event, and things could have been easily worked out. All Group #1 had to do was start their event one hour earlier, or one hour later, than the Group #2, and the Auctioneer could have helped both groups on the same day.
But because Group #1 failed to anticipate a possible Auctioneer conflict, because they failed to confirm with the Auctioneer before re-scheduling their event, their preferred Auctioneer had to bow out and they had to scramble to locate substitute “Volunteer” Auctioneer only days before their event.
And it cost them.
Learning Points
The Live Auction is usually where the profits are made at any Fundraising Auction.
A Professional Fundraising Auctioneer can be vital to the success of any Fundraising Auction.
The better Fundraising Auctioneers usually get booked quickly.
You need to recognize the important contributions that a good Auctioneer can make to your event.
Michael Ivankovich is a Bucks County Fundraising Auctioneer based in Doylestown PA, and serves the Great Philadelphia PA area. He has been a professionally licensed and bonded Auctioneer in Pennsylvania for nearly 20 years, has been named Pennsylvania’s Auctioneer of the Year, and has considerable experience in conducting Fundraising Auctions. Michael loves helping groups raise needed funds for good causes and one of his specialties is the “Special Pledge Appeal” or “Fund-A-Cause Appeal” which usually enables clients to double their revenue in a single evening.