Marketing Your Business     

In order to be successful in marketing, you’ll need to follow a few simple steps.

1. Define your target market.
2. Identify the products and/or services that meet your customers’ needs.
3. Define the offer for your product and/or services.
4. Advertise your product and/or services.

General Ideas    

Engage in at least one marketing activity every day.

Determine a percentage of gross income allotted to spend annually on marketing.

Set annual marketing goals. Review and adjust quarterly.

Carry business cards with you at all times.

Marketing Communications

• Develop an online marketing strategy. There are many opportunities for developing customer relationships through blogs, social media sites, and other vehicles. If you are not familiar with online marketing techniques, consult with experts or use online business advice sites such as www.entrepreneur.com.
• Incorporate social media such as Facebook, Twitter, LinkedIn, Google, Instagram, Pinterest, etc.
• Create regular posts that link between your social media and your website. This will improve the website’s search rankings and the likelihood of being found upon search.
• Ensure that the business information is up-to-date and consistent across media platforms including Google, Amazon Alexa, Facebook, and others.
• All websites should be mobile technology-friendly.
• Publish a newsletter for customers and prospects (it doesn’t have to be fancy or expensive).
• Create giveaways such as calendars or posters for your customers to keep your name in front of them.
• Print a slogan and/or one-sentence description of your business on letterhead, fax cover sheets, and invoices.
• Create a signature file to be used for all your email messages. It should contain contact details, including your website address and key information about your company that will make the reader want to contact you.
• Include testimonials from customers in your literature.
• Remember to keep your message consistent in all communications.

Media Relations

• Upload helpful videos relating to your product or service to video-sharing websites.
• Write a column for the local newspaper, local business journal, or a trade publication.
• Publicize, for example, your 500th client of the year (or another notable milestone).
• Create an annual award and publicize it.
• Get public relations and media training.
• Create short and informative videos to include on your website and social media to encourage sharing with other potential clients.

Customer Service and Customer Relations

• Return phone calls promptly.
• Set up an email system to easily respond to customer inquiries.
• Get a memorable phone number, such as 1-800-WIDGETS.
• Obtain a memorable URL and email address and include them on all marketing materials.
• Take clients out to a ball game, show, or another special event—or just send them two tickets with a note.
• Send handwritten thank-you notes.
• Send birthday cards and appropriate seasonal greetings.
• Create an area on your website specifically for your customers.
• Redecorate your office or location where you meet with your clients.
• Distribute advertising specialty products such as pens, mousepads, or mugs.
• Mail bumps—mail photos, samples, or other innovative items to your prospect list. (A mail bump is anything that makes the envelope bulge and makes the recipient curious about what’s inside!)
• Consider non-traditional tactics such as bus backs, billboards, and popular websites.
• Consider placing ads in your newspaper’s classified section.
• Code your ads and keep records of results.

Marketing Performance      

After implementing a marketing program, it is important to understand its impact on your business. Each program should have performance standards to compare with actual results. Researching industry norms and past performances will help to develop appropriate standards. Audit your company’s marketing performance at least quarterly, if not monthly.

Metrics, such as Key Performance Indicators (KPI), are used to measure the marketing performance. The KPI is unique to each business and marketing strategy. Some website analytics tools include Google Analytics, Matomo, and Bit.ly. Surveys, coupons, and conversations can also be used to track marketing efficiency.

Marketing Tips   

• The most important order you ever get from a customer is the second order.
• Understand and adapt to consumer motivation and behavior.
• A well-designed catalog sent to a qualified response list will probably bring a low response.
• Processing and fulfillment costs incurred from the time an order arrives until it is shipped should be kept to a minimum.
• Common mistakes companies make in using the phone is failing to track results and tracking the wrong thing.
• Marketing activities should be designed to increase profits, not just sales.
• It costs more to sell to a new customer rather than an existing customer.
• Selling what your customers need, instead of what they want, can lead to failure.
• Don’t think that product superiority, technology, innovation, or company size will sell itself.
• Don’t neglect or ignore your current customers while pursuing new ones.
• People don’t buy products, they buy the benefits and solutions they believe the products provide.
• The average business never hears from the majority of its dissatisfied customers.
• Many customers who complain would do business with the company again if their complaints were handled satisfactorily.
• It is estimated that customers are twice as likely to talk about their bad experiences as their good ones.
• Marketing is everyone’s business, regardless of title or position in the organization.
• Get to know your prime customers.

Tax Issues 

Our clients frequently contact us for assistance in dealing with tax issues such as the following.

• Pension or IRA distributions.
• A significant change in income or deductions.
• Job change.
• Start-up or sale of your business.
• Purchase or sale of a home or other real estate.
• Divorce or separation.
• Self-employment or contract work.
• Large charitable contributions.
• Children in college.

 Contact Us

There are many events that occur during the year that can affect your tax situation. Preparation of your tax return involves summarizing transactions and events that occurred during the prior year. In most situations, treatment is firmly established at the time the transaction occurs. However, negative tax effects can be avoided by proper planning. Please contact us in advance if you have questions about the tax effects of a transaction or event, including the following:

• Pension or IRA distributions.
• A significant change in income or other deductions.
• Notice from IRS or another revenue department.
• Job change.
• Divorce or separation.
• Self-employment.
• Attainment of age 59½ or 72.
• Charitable contributions of property in excess of $5,000
• Sale or purchase of a business.
• Sale or purchase of a residence or other real estate

EMAIL:  IRENE @IW-CPA.COM     WWW.IW-CPA.COM    PHONE:  781.833.3174