5 Tips on Increasing Your Sales

The only difference between leads and customers is “yes”. However the key for today’s businesses is are you asking the right questions to achieve the “yes” to convert a lead into a sale? Here are a few tips on how to achieve the conversions from potential customer to a paying customer:

Step 1 – Ask the Right Question

Increase Your Sales by Improving Your Lead Follow Up

Don’t assume that the questions you have asked potential customers in the past are the right questions today. Example: Are you ready to buy our one year package? May work better today as “Would you like to purchase our one year package or would you prefer trying it first on a month-to-month lease?” Today’s customers like having choices and they don’t like to feel cornered, so offering them a choice can make them feel heard better and also give them an incentive to make a longer commitment on their own terms.

Write down the questions you ask potential customers today and try mixing it up a bit with an approach including alternatives. Then measure your success.

Step 2 – Review Your Past Prospects and Learn Something About Your Company

While it is important to determine your closing ratio (leads to solds) it is equally important to review who you sold to last month and the month before and compare who they were and what product or service they bought. Then compare them to previous customers to see if their priorities or needs have changed. One of the advantages of being a small business is you are able to move your strategies quickly when you see a trend change. However if you are too busy to review who is buying from you lately, you may miss an important trend that can propel your company over your competition. Take the time to review your current customers and their buying trends this year over the past.

Take a minute to jot down who you thing your primary customers are and what you think they buy the most and why? Then compile the actual statistics from your sales and a customer description. Do your expectations match the results or is there any trend you may have missed? If so, consider if there is a product or service that would help your business grow or  improve customer satisfaction?

Step 3 –How are you reaching your new leads 7-9 times to gain their trust?

Did you know that it takes 7-9 impressions with your brand in order for potential leads to trust you enough to become a customer? Write down on a piece of paper a trail from your brand’s first contact with a lead to how you would reach them 7-9 times using Email, Social Media, Traditional or Online advertising. How much time does that take you? Then reduce the time from first contact to 7-9 touches.

Step 4 – Don’t Skip the Phone Call or Phone Number

When you send out information to a potential customer make sure your phone number is there. Also make sure a personal call or Email is part of the plan in Step 3. Remember the goal is trust and in order to trust you, I need to feel like you personally reached out to me (even in an E-Mail). By creating an outbound calling follow up, you will achieve more trust than sending out another Email or ad. If your target market prefers texts, make that part of your follow up.

Step 5 – Track Your Successes

Don’t forget this step, track your leads and when they close. Record the steps in between and you will find a winning formula for now. Always be open to changing your program but note when it works well and as your ratio of leads to solds increases recognize that your planning led to the difference.  Then stay open to observing the next trend in three months, go through this again and see how your sales process has changed

Final Step – Come to my next Workshop and Learn More.

Liz Harsch has been helping small and medium sized businesses make the most of their marketing investments since 1988. Her company, Tailor-Made Advertising is an Authorized SCORE workshop presenter and an awarded Constant Contact Email Marketer and Authorized Local Expert presenting Workshops for Constant Contact, SCORE, SBDC, Metropolitan Water District, multiple Chambers of Commerce, the City of Los Angeles and other Organizations. For more information about her company and to learn about her FREE Workshops and Paid laptop bootcamps like facebook (next one 5/30 in Torrance), twitter, linkedin and analytics, visit tailormadeadvertising.com. To schedule her as a speaker for your organization, association or department, email her to request a date at tmade.mkt@verizon.net.

Will The Fiscal Cliff Tax Deal Affect Your Business?

Are you clear or whether or not the new tax legislation will affect your sales? As a marketer, we need to keep an eye on what changes in government can do to our potential sales in 2013 and beyond. As I searched for a layman’s termed explanation of what we got and gave up with the negotiated legislation, I found the following explanation to be concise and simple. Review the information yourself and be aware if your target market is negatively affected.. If so, consider providing a promotion or some recognition that you are aware their costs have gone up and as their supplier, you want to help provide them with more value. While many people feel that the upper middle class and wealthy are not sensitive to price increases, taxes sting, and this one in particular can feel like class warfare. Consider how you would feel if your income tax went up to almost 40% of your income, while everyone else got a break. If upper class spending is reduced to help make up for the increase, it can affect your business, so help take the bite out the new legislation if you can cater to that market.

Tax Rates
For most individuals, the legislation permanently extends the lower federal income tax rates that have existed for the last decade. That means most taxpayers will continue to pay tax according to the same six tax brackets (10%, 15%, 25%, 28%, 33%, and 35%) that applied for 2012. The top federal income tax rate, however, will increase to 39.6% beginning in 2013 for individuals with income that exceeds $400,000 ($450,000 for married couples filing joint returns).

Capital Gains
Generally, lower tax rates that applied to long-term capital gain and qualifying dividends have been permanently extended for most individuals as well. If you’re in the 10% or 15% marginal income tax bracket, a special 0% rate generally applies. If you are in the 25%, 28%, 33%, or 35% tax brackets, a 15% maximum rate will generally apply. Beginning in 2013, however, those who pay tax at the higher 39.6% federal income tax rate (i.e., individuals with income that exceeds $400,000, or married couples filing jointly with income that exceeds $450,000) will be subject to a maximum rate of 20% for long-term capital gain and qualifying dividends.

Alternative minimum tax (AMT)
The AMT is essentially a parallel federal income tax system with its own rates and rules. The last temporary AMT “patch” expired at the end of 2011, threatening to dramatically increase the number of individuals subject to the AMT for 2012. The American Taxpayer Relief Act permanently extends AMT relief, retroactively increasing the AMT exemption amounts for 2012, and providing that the exemption amounts will be indexed for inflation in future years. The Act also permanently extends provisions that allowed nonrefundable personal income tax credits to be used to offset AMT liability.

2012 AMT Exemption Amounts
Before Act    After Act
Married filing jointly    $45,000    $78,750
Unmarried individuals    $33,750    $50,600
Married filing separately    $22,500    $39,375

Estate Tax
The Act makes permanent the $5 million exemption amounts (indexed for inflation) for the estate tax, the gift tax, and the generation-skipping transfer tax–the same exemptions that were in effect for 2011 and 2012. The top tax rate, however, is increased to 40% (up from 35%) beginning in 2013.

The Act also permanently extends the “portability” provision in effect for 2011 and 2012 that allows the executor of a deceased individual’s estate to transfer any unused exemption amount to the individual’s surviving spouse.

Phaseout or limitation of itemized deductions and personal exemptions
In the past, itemized deductions and personal and dependency exemptions were phased out or limited for high-income individuals. Since 2010, neither itemized deductions nor personal and dependency exemptions have been subject to phaseout or limitation based on income, but those provisions expired at the end of 2012.

The new legislation provides that, beginning in 2013, personal and dependency exemptions will be phased out for those with incomes exceeding specified income thresholds. Similarly, itemized deductions will be limited. For both the personal and dependency exemptions phaseout and the itemized deduction limitation, the threshold is $250,000 for single individuals ($300,000 for married individuals filing joint federal income tax returns).

Other expiring or expired provisions made permanent

• “Marriage penalty” relief in the form of an increased standard deduction amount for married couples and expanded 15% federal income tax bracket
• Expanded tax credit provisions relating to the dependent care tax credit, the adoption tax credit, and the child tax credit
• Higher limits and more generous rules of application relating to certain education provisions, including Coverdell education savings accounts, employer-provided education assistance, and the student loan interest deduction
• Temporary extensions
• Provisions relating to increased earned income tax credit amounts for families with three or more children are extended through 2017
• American Opportunity credit provisions relating to maximum credit amount, refundability, and phaseout limits are extended through 2017
• The $250 above-the-line tax deduction for educator classroom expenses, the limited ability to deduct mortgage insurance premiums as qualified residence interest, the ability to deduct state and local sales tax in lieu of the itemized deduction for state and local income tax, and the deduction for qualified higher education expenses are all extended through 2013
• Charitable IRA distributions (IRA holders over age 70½ are able to exclude from income up to $100,000 in qualified distributions made to charitable organizations) are extended through 2013; special rules apply for the 2012 tax year
• Exclusion of qualified mortgage debt forgiveness from income provisions extended through 2013
• Exclusion of 100% of the capital gain from the sale of qualified small business stock extended to apply to stock acquired before January 1, 2014
• 50% bonus depreciation and expanded Section 179 expense limits extended through 2013

Liz Harsch, has been helping small and medium sized businesses make the most of their marketing investments since 1988. Her company, Tailor-Made Advertising is an Authorized SCORE workshop presenter and an awarded Constant Contact Email Marketer and Authorized Local Expert presenting Workshops for Constant Contact, SCORE, SBDC, Metropolitan Water District, multiple Chambers of Commerce, the City of Los Angeles and other Organizations. For more information about her company and services or to learn about her FREE Workshops and Paid laptop bootcamps like facebook , twitter, linkedin and analytics, visit tailormadeadvertsing.com. To schedule her as a speaker for your organization, association or department, email her to request a date at tmade.mkt@verizon.net. You can also call erh Torrance office at 310-791-6300.

How To Update Your Twitter Profile-New Format

Have you updated your Twitter page Profile? Now you can brand it better with a larger format similar to facebook.  If you are ready to pump up your image in Twitter, just follow these steps:

Step 1 – Know the Layout Specification

• Custom header images should be sized to 1252×626, and will be resized by Twitter.

• Your profile picture, or avatar, will be placed close to the top in the middle of your custom header, so make sure there is no important information there.

• Your profile information, for example, your name, location, and URL, will be placed on the header under your profile image.

Step 2 – Update Your Profile

• Log in to Twitter.

Step 3 –Select Settings Icon From The Menu On the Right Top

Select Settings from the menu

Step 4 – Select Profile From the Settings Pull Down Menu (see right)

Select Profile

Step 5 – Changing for Your Profile Page (see below)

• Select Profile from the menu

• Click “change header” to upload your own header. When uploading notice that you can click and drag it to position but you must design it to leave space in the center of the image for your posting profile and description to be dropped in and the copy will be readable. Don’t be afraid to try a couple of times since you can save over it if you don’t like the look.

Change your images here

• Looking down a little, you can see the option to upload a new custom background, or choose a color. You also have the option to change the link colors.  Make sure your new pattern or color is not distracting from your new profile photo.

• To Change your background colors or design a new background, refer to the Settings menu and select Design.  Looking down a little, you can see the option to upload a new custom background, or choose a color. You also have the option to change the link colors.  Make sure your new pattern or color is not distracting from your new profile photo.

• When you are finished remember to hit “save changes!”

Now your new header is consistent with your facebook, Google+ and your website. Try to make all of your branding consistent so you will be able to capture a mind share from prospective buyers as well as reinforce your brand with your content throughout the Internet. Enjoy your new design. Please post your new profiles on my facebook page so we can show them off.

Liz Harsch, has been helping small and medium sized businesses make the most of their marketing investments since 1988. Her company, Tailor-Made Advertising is an Authorized SCORE workshop presenter and an awarded Constant Contact Email Marketer and Authorized Local Expert presenting Workshops for Constant Contact, SCORE, SBDC, Metropolitan Water District, multiple Chambers of Commerce, the City of Los Angeles and other Organizations. For more information about her company and to learn about her FREE Workshops and Paid laptop bootcamps like facebook (next one 11/14 in Torrance), twitter, linkedin and analytics, visit tailormadeadvertsing.com. To schedule her as a speaker for your organization, association or department, email her to request a date at tmade.mkt@verizon.net.