Ideal Marketing Company Blog

Free Marketing Seminar in Lutterworth

Free Marketing Seminar at The Greyhound Hotel, Lutterworth, Leicestershire.

How to Grow & Protect Your Business in 2010

Tuesday 16th February 5.30pm – 7.30pm at the Greyhound Inn, Lutterworth

With the start of the New Year, you may be wondering about what 2010 holds in store for your business.  Would you like it to great off to a great start? You are invited to a seminar and networking event which offers practical ideas on how to grow & protect your business during the year ahead and beyond.

Part 1 - What are the best ways to grow your business?  The first part of the session covers low cost marketing ideas on the 4 key areas of business growth.  Attracting more leads, converting more prospects into customers, selling additional services to existing customers and keeping customers for longer.

Part 2 – How do you protect the business that you have grown? It’s all too easy to let the wealth and value slip away or to expose yourself to unnecessary risks.  The second part of the seminar looks at how to protect yourself financially and how to use your business to build yourself a financial fortress.

The seminar starts at 5.30pm with presentations commencing by 6pm.  The event is free of charge and you are invited to attend and bring up to 3 people with you. We are anticipating a good level of attendance so PLEASE reserve your place in advance.

To reserve you place please call 01858 44 55 43  e-mail seminar@idealmarketingcompany.com

Tough times ahead?

Who can help in a turnaround?

In a turnaround, businesses often need help from people who are familiar with this type of crisis situation and who possess the specific experience and skills needed. But there are differing types of help available so it is worth understanding who’s who in the world of CROs, IPs, IMs and other professionals you may encounter, some of whom work within your business and some of whom work simply as advisors.

A Chief Restructuring Officer or CRO, is a turnaround professional that management hire on a temporary basis to provide support and assistance.

A CRO’s job is firstly to help the business analyse its position, providing an experienced eye to look over how deep the crisis is, assess the options and make an informed judgement as to whether the business is salvageable.

CROs then move on to help to drive through the actions needed to deal with the situation, acting as a crisis manager to handle issues with the urgency, independence and sometimes ruthlessness required. CROs therefore need to be people who can cope with the challenges and difficulties that this implies in a professional way.

The CRO also brings to the business a body of specialist knowledge of relevant commercial and insolvency issues such as redundancy processes and wrongful trading, so helping to manage these risks.

A CRO brings their experience of dealing with not only a business in crisis, bit also their experience in keeping financial stakeholders such as banks on board supporting the turnaround. A CRO has the ability to talk to the bank and insolvency advisers their own language, so giving the business the best chance that it will receive funders’ support through its difficulties.

The help provided by a CRO is generally therefore extremely ‘hands on’ in nature. The contrast here is with the professional advisers such as the insolvency practitioner or the lawyer who, however close the relationship, do remain outside the business. The CRO sits on your side of the table at meetings and actively works on behalf of your business, often becoming part of your business by taking on the role and responsibilities of becoming a director to take charge and drive through change for the time needed to make the plan happen.

The Institute for Turnaround provides formal accreditation of UK turnaround professionals, and such they may also be a member of the US based Turnaround Management Association. They often work alone but increasingly are operating as teams, often in conjunction with or organised through the firms who are also involved in supplying in specialists on a temporary basis known as interim managers to deal with particular functional aspects of the business (such as a temporary finance or production director) as may be required to turn the business’ performance around.

But there are many other resources available that a business can need apart from CROs. As a turnaround affects all areas of the business, so the business tends to need assistance from a broad range of specialists.

Business owners should always take formal insolvency advice from either lawyers or an insolvency practitioner (or ‘IP’) if the business is in severe difficulty to see whether they are safe to continue trading the business. An IP will be able to advise on use of any of the business rescue procedures under the Insolvency Act such as a Company Voluntary Arrangement; will be able to help the directors in assessing the business’s position. They will also often have a strong working relationship with the bank and so may be able to to help gain bank support for a turnaround, as well as introducing or working with a turnaround professional.

Often there is a need to raise new or replacement finance to provide funds to deal with the initial crisis or to support the subsequent recovery and regrowth of the business. These funds will come from specialist asset financiers either directly or more usually through a broker who knows the market and is used to placing such business.

Legal advice is almost always required and the business will need a recovery specialist as a lead advisor who can call upon expertise within his or her firm across a wide range of areas such as insolvency and debt collection in the early stages; through key issues for restructuring a business such as employment and redundancy, as well as contractual disputes such as problem contracts; right through to corporate finance specialists if there is a need to raise new equity or arrange a sale of the business.

Interim Managers are often used as a flexible resource to meet the changing needs of a business during the different phases of a turnaround. A typical case might require significant assistance from an interim financial controller on tightening up management of its cash to survive an initial crisis. Then the business might need an operations specialist to address manufacturing issues, before then bringing in a marketing expert to provide a boost to regrowing sales, while the whole strategy is overseen by the CRO.

Mark Blayney has 20 years experience in business rescues, is an IfT member and is the author of Turning a Business Around  visit www.markblayney.co.uk for more ideas.

Sales Growth

Direct Marketing simulates Sales: Survey

With majority of recipients making a purchase, Direct Marketing remains one of the best ways of generating sales as figures suggest.

Almost three-quarters of people who received direct mail advertising from a business responded while the success rate for television was ten per cent lower according to ExactTarget’s 2009 Channel Preference Study.
Print media channels such as direct mail is more popular among younger people.

Robert Keitch, chief of membership and brand at the Direct Marketing Association, told the website: “Direct mail has long been the most effective of all direct marketing channels, which explains why the medium still accounts for 25 per cent of all direct marketing spend.”

Also the consumers are more likely to respond to direct mail promotions.

PMDG Marketing Communications is launching a direct mailing campaign to encourage more Mexicans to cross the border to shop in Texas, according to Business Wire.

I still think that direct marketing is the most effective of all marketing channels and is still popular among the youth. This survey shows further proof that it still works for improving sales.

Marketing Seminar in London

Looking forward to a new marketing seminar that I will be running next week for the Mace Group at their head office in Camden North London.  Sorry - this is a private seminar for Mace staff only.  I will be running a similar seminar in Market Harborough in early November

Marketing Mentor Seminar

Just come back from running a 1 day seminar at Hothope Hall which I host every other month as part of the Marketing Mentor programme.  The group were very inspiring and a real pleasure to talk to.  It’s important to talk to ‘real’ business people regulalry to see how far away from reality the media portrail the business world is.  A very positive ‘can do’ meeting with a number of people who are certainly going to have a great year in 2009.   It’s not all doom and gloom and this group will prove it in 2009.

The format

There are many different ideas about how long a direct mail letter should be.  One school of thought says that the more you tell, the more you sell. Whilst I understand this point, I haven’t found it to be true. However, the most effective length and style of direct mail letter I have worked on is no longer than a single sheet of A4.

The mailer is divided into a single page letter, (on headed paper) a response form that can be posted or faxed, plus a further letter or sheet with quotes from satisfied customers.  This three part mailer generates a higher response rate than any other and has more words and certainly more substance to it than a single page.  Test it out for yourself and see which variation works best for you.

This material comes from one one of the Marketing Mentor Marketing Seminars.

What to say in direct mail?

There are various things that you can write in your letter that will make it more widely read, but bear in mind that about 50% of people will never even open your letter – it will go straight in the bin or will be partially looked at and then thrown away. The more you can make your letter look like a personal communication from one person to another, the better.

Having said that, there are certain ideas, tips and techniques that you can use to improve readership and response rates.

This material comes from one one of the Marketing Mentor Marketing Seminars.

Some areas of direct mail that are worth testing:

The list of names it is sent to

The headline

The time of year / month / week
The offer

The copy inside the letter

The supporting material

References quoted

The envelope

The follow up method

Timing of the offer

This material comes from one one of the Marketing Mentor Marketing Seminars.

Why direct mail works

Direct mail or e-mail communications work best when you are able to identify a specific, real and current problem – and then suggest a solution to it. By communicating with somebody directly – from you to them – you are able to write to them as an individual and make a compelling case for an answer to a problem they face. If your argument grabs their attention and then talks to them in their language about their problem, you have a much higher chance of getting a response from the prospect. 

When it doesn’t work is when it becomes junk mail: a bland letter sent to anybody who will read it and that talks only about what you do, paying no heed to the problems of the person you are contacting.

This material comes from one one of the Marketing Mentor Marketing Seminars.

Just got back from delivering a marketing seminar on marketing during the difficult times that lie ahead in 2009.  It was held at the WorkHotel an interesting concept in serviced offices in Hemel Hempstead.  Please to say that there was a good turnout and I had a chance to talk to people at the end of the event about specific ideas and concernes they had.

I’m pleased to say that i have been asked back (!) and will be delivering a seminar at the venue in December and January.  I think the December date is set at December 4th where I will be covering the ‘9 steps to marketing success’.  See www.workhotel.com  for details of the location and to book a place at this breakfast event.

Thanks to all the business owners who came along this morning.

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