So if we agree on demand being the key to job growth, then how do we get the increased demand?  I think it is relatively simple.  Give tax breaks to the middle class and watch them spend.  The middle class is the key to job growth.

And trust me, the small and large business owners will create the jobs when demand exceeds their capacities.  It’s simple economics.

Thanks for reading.

In the desert, we have several companies taking advantage of this type of marketing but there is one that stands above the rest.  Uncle Sam’s Daily Deal is a byproduct of the American Saver Klub or ASK.  This company uses a credit type card that they sell to consumers who then get discounts at any companies that sign up with ASK.  The card is good for a year and customers get great discounts all over the valley.

The Uncle Sam’s Daily Deal is a new venture of ASK and offers customers a great deal each day.  An email is sent to the customer and they can buy the deal right then or wait and buy it later.  Deals range from 50% off local restaurants to great deals at hair salons, spas, etc.

As long as the retailer is a member of ASK he automatically becomes a member of Uncle Sam’s Daily Deal.

This way, the consumer gets two great deals from the same retailer.  What could be better.

Contact me for more information on ASK or Uncle Sam’s Daily Deal.

Best regards,

A Prodigious $671 Billion!

42% of Email Marketers Don’t Know Their ROI

My thanks to Hal Lacino of Benchmark Email for this contribution.

Best regards,

Are you training your list to ignore . . . or to anticipate?

Good marketers actually build a relationship such that customers want to hear from them.  The secret to developing this kind of relationship lies in understanding how to segment your list so that each recipient gets only the content they’re interested in and they get it at the frequency that they desire.

I’ve found there are three powerful ways to segment your list that allow you to deliver the right content to the right people every time.

First is By Lead Source

Knowing where a lead came from helps a marketer understand their psychographics of their prospects.  If I know a lead responded to an advertisement about lead nurturing, then I’m going to be successful talking to that person about lead nurturing, drip marketing, autoresponders and other related topics.  If I know a lead came from a customer referral, I’ll be much more successful leveraging the relationship of the referrer than anything else.

Knowing and tracking your lead source on every lead is critical to understanding how to market (build a relationship) to them.  An added bonus is that by tracking lead sources from the top of your sales funnel all the way through the bottom of the funnel gives you the intelligence you need to know which marketing activities are making you money and which are costing you money.

The Second Powerful Way to Segment Your List is by Demographics

You should be gathering as much information about your leads and customers as you can so that you can segment by demographics.  It might be that your product or service is tailored for a specific demographic – so it’d be important to know if that’s actually who’s responding to your marketing.  Also, different demographics respond to different messages.

Whether you’re comparing middle-aged prospects with young-adult prospects or east coasters versus west coasters, they’re going to respond differently to different messages.  Understanding the nuances of the different demographic groups in your list is crucial to being able to craft your messages for maximum relationship building which equates to maximum profits.

The Third (and I believe most powerful) Way to Segment Your List is by Behavior

If you track response to every message you send, you’ll be able to measure who responds to what.  If I were selling camping gear I’d track who clicked on ads about sleeping bags, who clicked on links in my emails about tents, who read my articles on fire starting, who attended webinars about great places for snow camping, etc.  By knowing what people are interested in (because they told you with their behavior), you can always ensure that the information you’re putting in front of them is the most relevant to them at the time.

Most businesses aren’t thinking about this at all.  Most people just batch and blast – they send the same email to everyone on their list.  That trains people to ignore.  If you segment your list these three ways, and you carefully think through every communication (always wondering what a particular prospect or customer would want to receive), then you’ll be way ahead of your competition.

Special thanks to Tyler Garns, Director of Marketing for Infusionsoft, has over 10 years of experience in the field and is a recognized expert in Internet marketing. Tyler focuses on building the Infusionsoft brand via marketing, communications and social media. Tyler blogs at the Infusionsoft Blog.

Best regards,

“Hi John,

I came across your blog/newsletter online while trying to research the potential of buying an existing business in Palm Springs. I am wondering specifically if the Palm Springs economy is in any stage of recovery? Of course, the chamber and many who are trying to encourage growth to the area are going to be very optimistic. I understand that, but I am looking for reality. I would be just one of the small guys trying to build a small business and make a “decent” living from it. Perhaps the playing field right now is only with the big guys as they can take the risks and afford the wait better? And philosophically speaking, will the recovery look like anything it did before?

So, as a previous member of the Chamber and a marketing guy in the PS area, do you have any insight for me? Also can you refer me to any data/statistics on businesses closed, opened, demographics (residents and tourist seasons), etc, etc.

Anything else you might suggest is welcome, or anyone else to talk to.

Thanks so much.

Susan”

“Hi Susan,

Thanks for the note. You ask some great questions and I wish I could be optimistic for you. However, in this economy, any new business venture is a wild card. If you are prepared to “weather the storm” there are some great opportunities right now in Palm Springs. Rents/leases are at an all-time low and if you commit to a 5 – 10 year lease, you could be in great shape when the economy breaks.

On a positive note, the city council is close to approving an $80 million deal with a local contractor to demolish our old, closed down, downtown mall and build a great new project with new streets, retail, Movie Theater and green space. They hope to break ground early next year and finish the first phase by 2014. It will revitalize our downtown area and should make being a business owner very attractive.

Also remember that Palm Springs is a tourist location that is very seasonal. Many business close down in August and our tourism takes a pretty big hit during the summer months. I have noticed in the last five years that we are getting more and more travellers joining us on the weekends from LA and San Diego. Palm Springs is a great outlet for those who want to drive less than 2 hours and enjoy our beautiful desert.

The city of Palm Springs website may contain some statistics that should shed some light on our current business climate. Also, the Economic Development Department would be happy to answer any questions you may have. Just go to the city website for more information. Google Palm Springs and it will take you there. Feel free to write if you have any further questions.

Good luck!”

Best regards,

• Research and prepare:  Determine which banks participate in government programs and are familiar with your industry and target market.  Find out what documents are required.  Have a relatively short business plan that will answer lenders’ questions.  Some lenders and small business advocates offer business loan checklists with information about required financial statement projections and copies of cash flow.
• Get advice on SBA loans:  Government offices can provide SBA loan application checklists.  Consider attending workshops that SCORE and the Small Business Development Center offer and work with their consultants.
• Be up-front with lenders:  Demonstrate your ability and willingness to repay the loan without making broad, unsubstantiated statements about your finances.  Be conservative about asset lists, collateral statements and financial projections.  Be willing to discuss risks and financial projections.  Be willing to discuss risks and answer questions about how you will manage them.
• Be persistent:  Consider going to other lenders or banks even if you are denied.  Seek out referrals from successful entrepreneurs, associates, acquaintances and friends.
• Lower start-up costs:  Lease equipment, start out leaner and take other measures to scale down the business and increase odds of qualifying.  Show how a franchise business model will help.
• Calculate carefully:  Examine expenses closely to account for non-recurring expenses, account for all revenue with cash businesses, show how you’ve paid past bills, loans, vendors and include personal credit reports.  Get accurate real estate appraisals on property.
• When credit is blemished:  If it’s because of medical bills or a unique situation, explain it.  Before applying, work diligently to repair your credit.  Show you’re willing to risk your own money with a reasonable down payment.

Thanks to my sources, the US Small Business Administration and The Desert Sun newspaper.

Best regards,