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Twenty years ago the "Experts" would tell you that the way to success with a service business was a prominent, full page yellow pages ad. If you could only afford that big ad, all the work and profits would roll in. Ten years ago the "Experts" would tell you that the way to success with a service business was a web site and email account. If you could only afford that custom designed web page, all the work and profits would roll in.
Well, the "Experts" were wrong then, and they're wrong now. They're not wrong because print ads, web sites, and Facebook are useless. They're wrong because they are just tools to reach your target market so you can tell them about who you are, and what you have to offer. Having a twitter account when most of your potential customers don't know what a tweet is is useless. Having a large group of Facebook followers made up of your friends and colleagues may be good for your ego, but it probably doesn't get your message across to your target market who may think that the Internet is just two things: Google and YouTube videos. Ask any successful service business where the majority of their business comes from. The vast majority will tell you it's repeat customers and word of mouth. They use all of the new and old media, but business success in local markets is still based on the quality of your service experience and your customers telling their friends about it. So, does this mean that you should abandon your social media efforts?
Use every media outlet you can find to get your story out, but keep track of your return on investment for each ad, each web site, each tweet. Track every call you get, every job you sell. Measure the profit you earn versus the cost just like you did in the old days with your yellow pages ads. If after a reasonable length of time you find that the cost is not bringing in enough profitable business, scale back your efforts and move on to other tools for telling your story to your target customers. Remember that there is a synergy to social media that is often not apparent. Don't abandon your Facebook page, your web site, or your blog just because you can't trace sales directly to them. Since search engines like Google and Bing are such a huge force in local marketing today, staying towards the top of your local listing is important. Having multiple digital outlets that all refer to your company with a phone number and address on every page can boost your search page listing location. So, by all means, take advantage of the digital tools you have at your disposal. Just remember that they are just advertising tools. Use them to get your story out, but don't put all your faith in the "Experts" who tell you that social media is the key to your success because some things never change.
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If you use Numbers Cruncher for calculating your breakeven and profitable selling price, be sure to make this adjustment on the Tax/Benefit form. You can reduce the FICA percentage to 5.65% for 2011. Numbers Cruncher will adjust all of your employees' salary numbers, your breakeven and your profitable selling price automatically . You can see a quick summary of the change on the IRS site. You should consult with your accountant to be sure you get this right. NSPG News
Final days for this Offer We have decided to extend out special Free printed Flat Rate Price Book offer to anyone who orders our Flat Rate Software (National Standard Price Guide) through the end of June 2011. Get your first Custom Printed Price Book for Free direct from NSPG with your purchase of NSPG Flat Rate Software. We make it easy to Rise Above the Competition. Here's how easy Flat Rate can be:
That's all there is to it. You spend no time printing and binding your books. You spend no time hassling with your local print shop trying to get the quality you need. At NSPG, We Make It Easy to get your own custom printed Flat Rate Price Book. Just place your software order via our web store at nspgweb.com before the end of June 2011. You will automatically receive credit for your free custom Flat Rate Price Book. This is a limited time web store only offer, so don't delay. Click here, and save some money now.
The Economy  The
US economy only grew by 1.8% in the first quarter of
2011 down from 3.5% in the previous quarter. Corporate
profits continued to grow over the quarter despite the
weak economy and high unemployment. Consumer spending
grew 2.2%. There is still no consistent economic
force that will lead to higher growth. With
government spending being cut on a daily basis and only
moderate employment growth, it may be years before we
return to economic strength last seen in 1995-2000. We are seeing service industry materials price increases over the next few months from 7% to 18%. How much have you raised your rates this year?
Residential Sprinkler Bill Vetoed |
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Of
course not. You just need to keep things in
perspective. New media outlets are just tools for
telling your story to your potential customers.
Having a web site, a Facebook page, and a Twitter
account may help grow your business, but they probably
won't play as big a part as you hope. What can
help your business grow is providing a good quality
service experience, and then spreading the word about it
wherever you can.
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Call 800-841-8542 now so we can answer your questions
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NSPG, Inc. PO Box 1168, Manahawkin, NJ 08050
800-841-8542
201-767-5520