A Blueprint For Marketing Services
It's been our experience that successfully marketing services hinges on the relationships-of-trust that are developed well before the prospective client has an actual need. While on the surface this may appear deceptively straightforward, implementing a business development process for nurturing and growing these important new business relationships is anything but simplistic.
When marketing services, new clients need to be continually identified and added to the pipeline. Unfortunately, the reality is that far too many firms lack a straightforward, simple-to-execute business development process that is easy to implement and execute.
The bottom line is that marketing services doesn't need to be some overly cumbersome process, and you don't need to reinvent the wheel each time you want to generate new clients. The solution is having a business development methodology in place. One that doesn't take an enormous amount of time to put into practice. A marketing system that can be used like the gas pedal on your car, to generate as many (or as few) new clients as you have the internal capabilities to absorb.
Tuesday, August 21, 2007
Monday, August 13, 2007
Networking - Watch Your Word-of-Mouth
I found this article at the Entrepreneur site at http://www.entrepreneur.com/marketing/marketingideas.
The article is written by Ivan Misner; the creator of the networking group known as BNI (Business Networking International).
This gentleman is widely respected as an expert networker.
In most professions, networking is necessary - in my profession as a Medical Biller, it is an absolute MUST.
The trick is to get your name and your capabilities out in the marketplace.
Making certain that the message remains positive and clear is another challenge altogether!
Word-of-mouth marketing is always working; it just may not be working in your favor.
By Ivan Misner | July 26, 2007
By Ivan Misner
"Watch Your Word-of-Mouth"
You may be thinking: Since I'm not asking anybody to refer me, word-of-mouth marketing isn't something I need to concern myself with. If I provide good products or services and my customer service is up to par, I'll naturally get more customers by word-of-mouth. Why bother with plans and strategies? Why spend all that extra effort on getting referrals? I'm getting word-of-mouth every day, and it's not costing me any time or effort.
Yes, you're getting word-of-mouth every day. It just may not be the good kind. The message you're sending may be unclear or too vague. It may even be negative.
"Negative?" you may be asking. "But I have plenty of satisfied customers."
While you have lots of satisfied customers, they're not the ones doing the most talking. You may have 100 satisfied customers for every one customer who leaves your shop less than happy, but guess who talks loudest and longest? It's that demanding, unreasonable customer who thinks you're a lousy tailor because you wouldn't take care of her snarling, yapping cairn terrier while she went next door to the bakery ("Don't go to that tailor; he was so rude to me."). Or the customer who came in on the one day of the entire year you had to close early for an emergency ("That store? Why, it's never open.").
Negative word-of-mouth has legs. A study conducted in Texas revealed that the average dissatisfied customer gripes to 11 people about his experience, and these 11 in turn each tell five others. That's 66 or more horror stories about one unhappy trip to your store. Ask yourself if your average happy customer makes sure 66 people hear about your great service. Of course not. Would business be easier if they did? Of course, but they don't.
Also, passing on the gripe from a single dissatisfied customer to the next 55 takes some time, which means that the negative word-of-mouth feedback is "out there" a lot longer.
What's the lesson here? Good customer service is important because it reduces negative word-of-mouth. But by itself, good customer service won't generate enough positive word-of-mouth to build your business. So it's up to you as the business owner to ensure the positive counters the negative.
Even if you discount the occasional disgruntled ex-customer, your word-of-mouth may be so vague as to be useless: "Good tailor, eh? What does he do besides alterations? Does he do reweaving? You don't know?" Or it may be misleading: "Well, he has a full lineup of men's clothing, but I don't know whether he does custom tailoring or alterations. It may all be ready-to-wear."
Positive word-of-mouth that's inaccurate or aimed at the wrong target market may hurt your business as much as negative word-of-mouth. Suppose somebody gets the idea that you're in the trucking business when you're actually selling trucks. The aggravation of straightening out an honest misunderstanding may leave enough of a sour taste in the prospect's mouth to cost you future business and referrals.
The same is true if your business focus is on high quality but your source promotes you as a low-cost provider. It's important that your marketing message be conveyed accurately and realistically.
How do you keep up with the demands of running your business and making sure the word gets out about how wonderful your business is? Start small with your family and friends. It's amazing what a good word by a spouse or relative can do for your business in the right place and time. Branch out to your friends or members of organizations to which you belong. With family and friends, the key is ensuring they have up-to-date information and a thorough understanding of your company. Don't forget the vendors who provide products or services to your business. Remember that the IT consultant who helps with your server every other week will visit (and talk with) many clients in between.
Word-of-mouth is always working; it just may be working against you. If you don't have a strategic plan, then you're not in control of what's being said about you. And if you don't have a way to measure the results of your word-of-mouth marketing, then you have no idea if it's really working.
The article is written by Ivan Misner; the creator of the networking group known as BNI (Business Networking International).
This gentleman is widely respected as an expert networker.
In most professions, networking is necessary - in my profession as a Medical Biller, it is an absolute MUST.
The trick is to get your name and your capabilities out in the marketplace.
Making certain that the message remains positive and clear is another challenge altogether!
Word-of-mouth marketing is always working; it just may not be working in your favor.
By Ivan Misner | July 26, 2007
By Ivan Misner
"Watch Your Word-of-Mouth"
You may be thinking: Since I'm not asking anybody to refer me, word-of-mouth marketing isn't something I need to concern myself with. If I provide good products or services and my customer service is up to par, I'll naturally get more customers by word-of-mouth. Why bother with plans and strategies? Why spend all that extra effort on getting referrals? I'm getting word-of-mouth every day, and it's not costing me any time or effort.
Yes, you're getting word-of-mouth every day. It just may not be the good kind. The message you're sending may be unclear or too vague. It may even be negative.
"Negative?" you may be asking. "But I have plenty of satisfied customers."
While you have lots of satisfied customers, they're not the ones doing the most talking. You may have 100 satisfied customers for every one customer who leaves your shop less than happy, but guess who talks loudest and longest? It's that demanding, unreasonable customer who thinks you're a lousy tailor because you wouldn't take care of her snarling, yapping cairn terrier while she went next door to the bakery ("Don't go to that tailor; he was so rude to me."). Or the customer who came in on the one day of the entire year you had to close early for an emergency ("That store? Why, it's never open.").
Negative word-of-mouth has legs. A study conducted in Texas revealed that the average dissatisfied customer gripes to 11 people about his experience, and these 11 in turn each tell five others. That's 66 or more horror stories about one unhappy trip to your store. Ask yourself if your average happy customer makes sure 66 people hear about your great service. Of course not. Would business be easier if they did? Of course, but they don't.
Also, passing on the gripe from a single dissatisfied customer to the next 55 takes some time, which means that the negative word-of-mouth feedback is "out there" a lot longer.
What's the lesson here? Good customer service is important because it reduces negative word-of-mouth. But by itself, good customer service won't generate enough positive word-of-mouth to build your business. So it's up to you as the business owner to ensure the positive counters the negative.
Even if you discount the occasional disgruntled ex-customer, your word-of-mouth may be so vague as to be useless: "Good tailor, eh? What does he do besides alterations? Does he do reweaving? You don't know?" Or it may be misleading: "Well, he has a full lineup of men's clothing, but I don't know whether he does custom tailoring or alterations. It may all be ready-to-wear."
Positive word-of-mouth that's inaccurate or aimed at the wrong target market may hurt your business as much as negative word-of-mouth. Suppose somebody gets the idea that you're in the trucking business when you're actually selling trucks. The aggravation of straightening out an honest misunderstanding may leave enough of a sour taste in the prospect's mouth to cost you future business and referrals.
The same is true if your business focus is on high quality but your source promotes you as a low-cost provider. It's important that your marketing message be conveyed accurately and realistically.
How do you keep up with the demands of running your business and making sure the word gets out about how wonderful your business is? Start small with your family and friends. It's amazing what a good word by a spouse or relative can do for your business in the right place and time. Branch out to your friends or members of organizations to which you belong. With family and friends, the key is ensuring they have up-to-date information and a thorough understanding of your company. Don't forget the vendors who provide products or services to your business. Remember that the IT consultant who helps with your server every other week will visit (and talk with) many clients in between.
Word-of-mouth is always working; it just may be working against you. If you don't have a strategic plan, then you're not in control of what's being said about you. And if you don't have a way to measure the results of your word-of-mouth marketing, then you have no idea if it's really working.
Wednesday, August 8, 2007
Top 10 Do's and Don'ts for an Effective Business Referral Network!
I found this networking piece at www.webyodel.com/tips/effective_referrals.htm
This is a great top ten list to refer to concerning the DO'S and DON'T'S on networking!
Every business, particularly small, entrepreneurial or professional businesses, must have a powerful referral network. It is very unlikely (and terribly expensive) to "advertise your way to success." Without substancial capital, it can't be done. It is far more effective, and more fun, to create an effective network that increases your client base, supports your business, and makes you money.
Unfortunately, most professionals confuse effective networking with passing out business cards and schmoozing. They are NOT the same. Below are 10 tips for creating a network that will help you build your business.
1. DO: Be visible and well-liked! Know lots of people and be sure they know you.
2. DON'T: Inappropriately use acquaintances or membership lists to build your practice. People hate being put on the spot!
3. DO: Join and contribute to worthwhile groups and causes. You have to "put in" before you can "take out." Be known as a generous person with a lot to give.
4. DON'T: Grab the spotlight or Chair every committee. Don't turn down positions of leadership or responsibility, but don't be pushy either. Let people discover you!
5. DO: Show up! Whatever your current circle of friends and relationships, this week go someplace else! Continue to add new circles of influence and expand the range of your interests and involvements. Keep growing the circle!
6. DON'T: Expect colleagues with similar expertise to be referral sources. They have their own businesses and are unlikely to share clients with you. Be realistic.
7. DO: Reach beyond your profession for business connections. Look to business owners, salespeople, educators, and managers. Anyone who connects with many people and who does not compete with you is a potential partner.
8. DON'T: Rush into business relationships. Have lunch, get acquainted, but never push a business card or brochure on anyone. Conveniently "forget" collateral at the office, and send a thoughtful follow-up note with the material a couple days later.
9. DO: Make sure your business connections run both ways. Referring clients must make business sense to both sides. Make sure your work provides increased income, more convenience, better outcomes, or other benefits for your referral sources. This is only fair.
10. DON'T: Panic or try to rush. Most successful practices only need 3-10 great referral sources. Select and cultivate them wisely and patiently. It pays huge dividends!
As a Professional Medical Biller, I am constantly looking for ways to expand my sphere of influence, which offers opportunities to talk about my business to more and more people - whether they relate to my industry or not.
You should do the same. An excellent resource which teaches you the basics in networking is The Medical Business Start Up Manual which can be purchased and immediately downloaded at www.MedicalBillingFoundation.com.
This is a great top ten list to refer to concerning the DO'S and DON'T'S on networking!
Every business, particularly small, entrepreneurial or professional businesses, must have a powerful referral network. It is very unlikely (and terribly expensive) to "advertise your way to success." Without substancial capital, it can't be done. It is far more effective, and more fun, to create an effective network that increases your client base, supports your business, and makes you money.
Unfortunately, most professionals confuse effective networking with passing out business cards and schmoozing. They are NOT the same. Below are 10 tips for creating a network that will help you build your business.
1. DO: Be visible and well-liked! Know lots of people and be sure they know you.
2. DON'T: Inappropriately use acquaintances or membership lists to build your practice. People hate being put on the spot!
3. DO: Join and contribute to worthwhile groups and causes. You have to "put in" before you can "take out." Be known as a generous person with a lot to give.
4. DON'T: Grab the spotlight or Chair every committee. Don't turn down positions of leadership or responsibility, but don't be pushy either. Let people discover you!
5. DO: Show up! Whatever your current circle of friends and relationships, this week go someplace else! Continue to add new circles of influence and expand the range of your interests and involvements. Keep growing the circle!
6. DON'T: Expect colleagues with similar expertise to be referral sources. They have their own businesses and are unlikely to share clients with you. Be realistic.
7. DO: Reach beyond your profession for business connections. Look to business owners, salespeople, educators, and managers. Anyone who connects with many people and who does not compete with you is a potential partner.
8. DON'T: Rush into business relationships. Have lunch, get acquainted, but never push a business card or brochure on anyone. Conveniently "forget" collateral at the office, and send a thoughtful follow-up note with the material a couple days later.
9. DO: Make sure your business connections run both ways. Referring clients must make business sense to both sides. Make sure your work provides increased income, more convenience, better outcomes, or other benefits for your referral sources. This is only fair.
10. DON'T: Panic or try to rush. Most successful practices only need 3-10 great referral sources. Select and cultivate them wisely and patiently. It pays huge dividends!
As a Professional Medical Biller, I am constantly looking for ways to expand my sphere of influence, which offers opportunities to talk about my business to more and more people - whether they relate to my industry or not.
You should do the same. An excellent resource which teaches you the basics in networking is The Medical Business Start Up Manual which can be purchased and immediately downloaded at www.MedicalBillingFoundation.com.
Friday, August 3, 2007
Medical Billing - Who Do You Know? And Who Do They Know?
One thing that I've learned as a Professional Medical Biller is that networking is so very important.
It can be quite challenging to attempt to get appointments with private practice owners by simply cold calling.
It is important to either stay (or become more) involved in your community to meet as many people as possible, so that you can talk up your business. Be open minded! Deciding NOT to business network with someone COMPLETELY different than your profession could be a poor decision.
Instead of thinking that an owner of a sprinkler company OR a CFO of a large company couldn't possibly have anything to do with the medical billing business...
Well, technically, you're probably right! BUT....perhaps THEY have a first cousin who happens to be a doctor or other private practice owner... MAYBE they became rather friendly with a sprinkler client who happens to be a top neuro-surgeon.
The point? NEVER JUDGE YOUR AUDIENCE.
The choice is yours to either stay a million steps from ONE dollar OR to get yourself ONE step away from a million dollars!!!
You never know!
It can be quite challenging to attempt to get appointments with private practice owners by simply cold calling.
It is important to either stay (or become more) involved in your community to meet as many people as possible, so that you can talk up your business. Be open minded! Deciding NOT to business network with someone COMPLETELY different than your profession could be a poor decision.
Instead of thinking that an owner of a sprinkler company OR a CFO of a large company couldn't possibly have anything to do with the medical billing business...
Well, technically, you're probably right! BUT....perhaps THEY have a first cousin who happens to be a doctor or other private practice owner... MAYBE they became rather friendly with a sprinkler client who happens to be a top neuro-surgeon.
The point? NEVER JUDGE YOUR AUDIENCE.
The choice is yours to either stay a million steps from ONE dollar OR to get yourself ONE step away from a million dollars!!!
You never know!
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