Extra £2K for Christmas

An extra couple of grand could help out a small business owner with a number of things, especially at Christmas.

Most small businesses have multiple routes to market and 2-3 of them will be really successful.  In addition there will be a couple that broadly break even and then one or two that are right Rotters – they lose money.

The problem is that the success of the high performers often disguises that of the Rotters and they go unchecked.

If you identified the Rotters and stopped spending good money after bad, what could you do with that money?

Answers on a comment form please!

 

Visitor Movement

When you build your website, you think you have a logical path through the site. You want visitors to arrive, find what they want and then move to “Contact Us” so they can get in touch with you.

Sometimes this isn’t the case and so you need to understand what paths are being taken so you can make changes to get your website visitors through your site.  This is where Google Analytics comes in.  The new version provides a tool called Visitor Flow.  this tool provides a graphic image of the routes through, and out, of your website that your visitors take.

If you’ve got a Google Analytics account, make sure you’re using the New Version. If you’re still on the Old Version, click on New Version just below the top right hand corner.  The image below shows where to click to move from the Home Page to where you can get to Visitors Flow – Standard Reporting.

Once on Standard Reporting, click where I’ve circled below.

Where to find Visitors Flow within Google Analytics

Once you’ve clicked you will see a graphic representation of how your website visitors move through your website.  Starting from their country of origin. The image below shows that the majority of visitors come from the UK but go to a number of different pages.  The visitors from the USA, India, France and others all go to the Home Page.

Let’s work our way across the image and explain what it is telling you and how this can help you to improve the performance of your website.

Starting Pages

Below Starting Pages it shows the number of visitors in the measured period (default is the last 30 days).  Next to that is the number of people who left without looking at another page (Bounced as it’s known). The thickness of each line represents the volume of visitors to each page so you can see 120 landed on the Home Page etc.

First Interaction

From each initial landing page you can then see lines moving to the right and joining up with another page name.  In our example 15 people went straight to Contact Details, 11 to the blog etc.  Of the 75 visitors who had that first interaction, 29 then left the website, leaving the rest to make a 2nd interaction.

Further Interactions

On your Google Analytics page you will be able to follow the image right for 12 interactions, giving you a detailed understanding of how visitors are using your website.

What does this all mean?

What does this all mean?  Simple; for your Marketing Director, or senior management, they can see where visitors go and, more importantly, don’t go. Are they following the path you want them to? If not where are they going? Are they clicking on the internal links you have on individual pages? If not, perhaps you need to make them more obvious or you need to improve the content

There is a great deal to be learnt from Google Analytics about the performance of your website and this is just one of the new features that I particularly like.  I hope you will find it useful too

How to qualify your prospects as a small business

 

As a small business, of course you want to generate as much business as possible. Your marketing is aimed at generating as many prospects as possible. However, not every prospect is going to bring their business your way, and so it is vital that you identify which are worth your time and effort and which are not. Being a small business, you don’t have the time to entertain every single prospect; you have other tasks that need attending to. So how should you go about qualifying your prospects?

Can you provide a solution?

The prospect needs to be clear as to the exact nature of your products or services. Similarly, you need to grasp precisely what it is the prospect requires or how you may be able to provide a solution to a particular problem. There is no point in proceeding any further if the prospect is looking for something you simply do not provide, so it’s best to just walk away at the first possible opportunity. Ensure your website and any marketing material is clear and updated regularly so anyone who comes across it can easily understand what it is you offer.

Do you have the time?

This is something that is often overlooked with qualifying prospects. Yes, it may be very nice to receive an enquiry, but if you don’t have the time to fulfil it, then you need to say so from the outset. If you take on the work but know that you already have more than enough to fill your time, then some or all of it is going to suffer, and you could ultimately lose out on future business. Check with the prospect first what sort of timelines they have and then consider whether your schedule will permit the work. It is believed that most businesses have 15% pipeline close rate efficiency, meaning that time and resources go into something that 85% of the time doesn’t drive revenue – don’t let that 85% include time wasted on prospects.

Does the prospect have the funds?

The last thing you want is to press ahead with the deal only to find that they cannot pay you for the goods or services. One way of ensuring that a prospect is likely to pay is by running a credit check or gaining access to company credit reports. This can be an incredibly useful way of highlighting whether a prospect has a healthy credit history and could save you a considerable amount of time and money in the long run. Company credit reports can let you view important information such as credit rating and limit, 5 year accounts, CCJ information and full director information, as well as links through to debt scores to find which of your outstanding debts are most likely to be paid, and access to any media stories about that particular company.

Are you speaking to the decision maker?

A sure-fire way to waste time and effort is to do your dealing through someone who isn’t the main decision maker in a company. If you only speak to an assistant or someone who is not the decision maker, then you will likely have to wait for them to feed the information back to the relevant people, which takes time and could be misinterpreted. Always ask to speak to someone in authority, such as a Sales Director, and question the sincerity of a request from someone who is not willing to talk to you themselves.

These are just a few points you should consider when qualifying your prospects, and each prospect will have to be handled slightly differently, but they should give you a good basis from which to start.