Is Your Business Rocking Like Denny’s?
Cutting edge and Denny’s are not commonly muttered in the same sentence. Unless you consider cutesy names for their heaping breakfast platters, such as "Moons Over My Hammy", as cutting edge.
But, all that may be changing as Denny’s rolls out a new strategy to attract a much different audience to their late night offerings.
Denny’s Late Night
It’s no secret the recession has hit casual dinning places like Denny’s particularly hard. So what does the 56 year old restaurant chain do to bolster slumping sales? It tries something completely different.
To bring in more late night diners, Denny’s is introducing the Allnighter program and is sponsoring alternative rock bands to come play live in the restaurant between 10 p.m. to 5 a.m., positioning itself to be THE after party spot – hip, cool, and yes cutting edge.
How’s it Working?
To date more than 30 emerging bands have taken part in the sponsorship opportunity, which gets them free meals while touring in return for playing a couple gigs as part of an after show in the Denny’s restaurant.
Denny’s has also added many cheap, late night items to it’s menu to cater to the new clientele, and is offering the late night crowd a more social experience than the one they would get at a typical late night drive through.
One can only think that by effectively building on the music and the social community, these late night attractions will not only bolster sales, but go a long way in reviving the image of the brand. Maybe you can teach an old dog new tricks?
See For Yourself
This video is party of Me Talk Pretty’s series of after parties sponsored by Denny’s and Filter Magazine.
The Verdict is Still Out
Whether or not this foray into late night will be a success, you have to applaud the chain for the effort. It has the opportunity to be a win-win for all involved. It provides the chain with a much needed brand face lift, gives fledgling bands an outlet and some national exposure through people talking about the program, and becomes an alternative hangout for the younger crowd to socialize, or at least sober up before calling it a night.
What Can Small Businesses Learn From Denny’s?
The biggest lesson in all of this may be that if what you are doing isn’t working anymore, don’t be afraid to try something new, drastically new even. Denny’s has done the same thing year in and year out for 50+ years – they saw it wasn’t working right now, and looked for an alternative.
In the face of lackluster sales, and a weak economy the businesses that put themselves out there stand the best chance of reaping the rewards. If sales are down, why not try out some new ideas? If they don’t work, you’re no worse off, right?
Also, look at what you do well and then find ways to dovetail that with what people currently want. In the case of Denny’s, they know how to do late night eats, so why not combine that with a social atmosphere that includes music, to see if they can expand their market in the late night hours with young, hungry, patrons.
Not only are they providing what people want, they are interacting with them how they want as well. You can now find Denny’s on Facebook, and Twitter, and if social media is working for them you need to at least consider what it can do for you.
All of this may not have been part of Denny’s original business model, but then again they weren’t selling as many “Moons Over My Hammy” as they used to either. Drastic times may call for drastic measures, and those measures can result in a win for everybody.
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Four Reasons Your Customers Don’t Buy From You
Ever wondered why your customers choose not to buy from you?
I’m talking about the good leads, folks who fit your target market to a tee, people for all intents and purposes should be buying. I believe there are four reasons these people don’t buy, work on these and you’ll go a long way in converting some of those customers who are currently going away empty handed. And the good news is 3 out of 4 are directly within your control.
1. Poor Sales Tactics
The first one is the most obvious, and hopefully the easiest to overcome. Once you have that qualified lead, or the person in your store who SHOULD be buying from you, are you doing what it takes to close the deal. Remember the Easiest Way to Sell Stuff Ever? Simple tactics like that will help you convert.
2. Uncertain of Value/Benefits
If I’m your target customer, and for the sake of argument let’s say you aren’t selling junk, one reason I may not be buying is that I’m unclear on what value I’m being given (looking to shop around?), or am unclear on the benefits (why do I need this?).
Seth Godin just had a nice post where he examines the value equation, noting that most marketers get it wrong by expecting customers only want a lower prices – when in reality customers want value. Show them value = get more sales.
Also, don’t forget the “value” of explaining the benefits. I don’t care that you’ve sell 2,000 different types of wine – I want that one bottle that will take away the stress at the end of a long day, and transport me to Italy. Show them benefits – get more sales.
3. Uncertain of Guarantee
“Am I going to get ripped off?” This is going through your customers mind more often than you’d like to admit.
You know you’d never rip anyone off, but how well do they know that. And are you giving them a guarantee that completely puts their minds at ease?
Which are you more likely to buy from “Money back within 30 days, as long as you have a receipt and the item is unworn” or “Full money back guarantee, no questions asked, no time limit”?
4. Wrong Place Wrong Time
There is a chance you are interacting with the consumer at a place and time where they just aren’t ready to buy for whatever reason. If you assessed you’re doing a good job with the other three reasons, the wrong place / wrong time customer should be few and far between. The only thing to do here is to try and get them back when the timing’s better.
This is what it came down for me after I looked at why “would be customers” weren’t buying from me. Have you found the same thing with your businesses?
Photo Credit: Slightlynorth’s photostream
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8 Patterns Of Highly Effective Entrepreneurs
Are there certain habits, or patterns, many successful entrepreneurs share? What distinguishes entrepreneurs from everyone else?
Brent Bowers, author of 8 Patterns of Highly Effective Entrepreneurs
First: Opportunity
Entrepreneurs have an aptitude for spotting and seizing opportunity.
Second: Leadership
Entrepreneurs are compelled to be in charge, and act as natural and very capable leaders.
Third: Innovative
They have a history of innovation, and the entrepreneurial spirit has been with them since childhood.
Fourth: Adaptation
Entrepreneurs are quick to adapt to almost any situation thrown at them. They have an ability to think on their feet, and “just go for it”.
Fifth: Drive
Entrepreneurs naturally have a strong drive and determination to see their idea succeed.
Sixth: Passion
They have a passion and enthusiasm for what they do.
Seventh: Unfailing Pragmatism
Entrepreneurs act as their own best check and balance system. They take calculated risks, but never gamble.
Eighth: Setbacks Equal Opportunity
Entrepreneurs see setbacks not as failure, but as opportunity to learn and grow.
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Photo Credit: Leo Reynolds’ photostream
10 Ways to Advertise Your Business On the Cheap
Who couldn’t use some more advertising, and what are some of the easiest ways to advertise a business on the cheap?
That’s the question I was asking myself today, when I decided to see if my friends on Twitter had any ideas. As usual they didn’t disappoint, and within minutes I had a list of 10 cheap, or free ways to advertise your business.
Advertising on the Cheap
- Add/Claim your business on Google
- Article Marketing – Write expert articles and submit them to sites such as Ezine, or pick from this list of 200 article submission websites
- Advertise on yourself – make some simple t-shirts with your company name and website on them, wear them around town
- Add your business to review sites such as Yelp, or Feedback Jar
- Email signature – Use every email as a way to promote yourself and your business
- Social Networks – There is a social network for every niche. Join one and start networking.
- Forums related to your business
- Leave biz cards in library books
- Post cards on windshields
- Leave biz cards, flyers, etc on community boards
In this economy there is nothing wrong with being frugal, and there are literally dozens of ways to advertise your business economically. Think creatively, and just get out there and do it!
Let me know your best cheap marketing idea in the comments below.
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Entrepreneurs Can Change the World
Siamak Taghaddos, CEO of Grasshopper, passed this video along to me and I thought it was too good not to share.
I’ll be honest, I usually shy away from this sort of thing. Seems like there are too many mediocre “everything is wonderful” type of videos floating around out there. But this one was different, it struck a chord with me as a business owner, and made me feel proud to be an entrepreneur.
In Siamak’s Own Words:
As entrepreneurs serving entrepreneurs, we know that small businesses drive our economy and fuel our growth. With that, we’re starting an entrepreneur movement to inspire entrepreneurship and turn our country around. We’ve commissioned composer Carly Commando (creator of the NBA Playoffs’ “Where amazing happens” piano theme song) and leading visual designer Ben White from the UK to create a video to do just that – motivate and inspire entrepreneurship.
A Quick Shot of Inspiration
So…if you want a 2 minute lift, or a shot of “warm tingely”, just hit play below.
If somebody you know needs a little inspirational boost – pass this on to them.
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Four W’s of Branding
Of all the things in business you can make difficult, branding has to be close to the top of the list.
We all know the importance of branding, and brand management, and as such tend to over think it.
Branding really comes down to answering these four questions and then remaining consistent to your answers as implement your marketing messages.
This is the foundation of a great brand, focus on it while building yours.
Who Are You?
Seems simple on the surface, but often overlooked. Your brand will reflect who you are as a person, and as a company. What do you stand for, what is your mission, do you have core values and principals that drive your business decisions? All of those go into what makes you, you. And it’s the first step in fleshing out your brand.
What Do You Do?
What does your business do? This one is pretty straight forward, it’s essentially your elevator speech, or how you would sum up your business if given 30 seconds to talk about it. Focus on your core competencies when answering “what do you do”; because while we may think we’re all things to everybody, in reality there are specialties within our businesses that should be highlighted.
Why Does it Matter?
This is a tough one for many. Exactly why does what you do matter? How does your business touch people, interact with the customer, in such a way that it is relevant? Until you know why you matter, and to whom you matter, you can’t begin to develop the proper messages that will act as the foundation of your brand.
What Makes You Different?
If you’re exactly the same as the next guy it’s going to be hard to develop a meaningful brand. The good news is hardly anyone is exactly the same as the next guy. You have strengths, beliefs, ideas, and business models that make you different. Your answers to the other three questions should help you realize your differences, and what makes you unique. Focus on your competitive advantage, and when it comes to building a brand remember to celebrate your differences.
In a Nutshell
That’s really all there is to developing the messages that will build your brand. Forget logos, fonts, colors, or any other brand building tool until you answer the questions above. Those are brand strentheners, not brand builders, knowing the four W’s is the foundation from which to build on.
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Blog Your Way to New Customers and Repeat Business
I’m happy to have another guest post by best selling author Corey Perlman to share with you. Today Corey delves into many virtues of using your blog to attract and retain customers. Take it away Corey…
I already know something very unique about every single person who is reading this article. No, I’m not channeling David Blaine or spending too much time watching reruns of Mind Freak, I just know each and every one of you is an expert on at least one topic in his or her field.
I also know that you have a massive audience via the World Wide Web that is eager to hear what you have to say. Regardless of your profession, you have information that we need and that’s what makes it valuable.
Let’s use a dentist or dental hygienist as an example. They know how to keep our teeth healthy and pearly white. If they provided that information free of charge, wouldn’t you read it? I know I would – especially with that candy jar sitting outside of my office.
What if you were in the market for a new home and a real estate agent gave you free tips on how to negotiate when buying a new home? I bet many new home buyers would be first in line to gobble that information up. And I could go on and on with other examples.
Channel Your Expertise
The point is everyone has valuable information to share with the public and the Internet has provided a vehicle to get your message out to the masses quickly and effectively. That vehicle is called a blog (or web log or online journal for us non-techies out there) and it is a web page where you can publish content for others to read and comment on. Blogs are easy to use and you can set one up absolutely free. Isn’t the Internet great!
My blogging site of choice is www.blogger.com and I like them for two reasons. First, it’s very user friendly and perfect for the beginner blogger. And most importantly, it’s owned by a company you may have heard of called Google!
Chorus of Readers: Why do we care that it’s owned by Google?
Corey: Great question readers!
Take Advantage of Search Engines
As I touched on earlier, a blog is a Web page and a Web page can be ranked in search engines such as Google. In fact, blogs are very popular with the search engines because they like content heavy web pages and blogs are simply loaded with content.
So if you are looking to increase your overall presence on the largest search engine in the world, why not use the blogging tool that they own.
Content is Key
Chorus of Readers: I like it! But I’m still not sure what I should write about.
“If you provide value, they will come.” Ok, so Kevin Costner I am not, but the message is still the same. Give high value content in your blog posts and you will begin to gain a following. And the exciting part is people will come back again and again as they will have become addicted to your content.
Value First – Sell Second
Chorus of Readers: Ok, but where’s the new customers and repeat business come from?
I thought you’d never ask. Once you have people reading your blog and gaining value, you can softly sell your products or services without offending your audience. So my philosophy is provide value first, sell second.
My world is Internet marketing, so I might write a post in my blog about how to rank high in Google and then my next post might be an invitation to one of my workshops. And they won’t be put off by my self promotion because I sell rarely and provide value often.
Chorus of Readers: Ok, we have work to do, any final words?
Remember Two Things
I will leave you with the two most important things to remember when creating content in blogs. First, what words are people searching for on Google that you’d love to have your Blog appear at the top of the page? Use those words over and over again when writing in your blog. Search engines evaluate frequency when determining where to rank web pages on their site. Finally, always remember to Hurl Your URL! That simple means to provide a link on your blog to your main Website so people can easily go there for more information about you or your company.
Chorus of Readers: This is great! By the way, who are you?
Corey Perlman is the author of the #1 Amazon.com bestseller eBoot Camp: Proven Internet Marketing Techniques to Grow Your Business. The book provides easy-to-do strategies and techniques to help you market your business on the Web. It covers topics such as social networking sites, Web site optimization, online articles and press releases, video marketing, and much more. To learn more about eBoot Camp or to purchase a copy, go to www.ebootcampbook.com.
Photo Credit: Mexicanwave
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The Easiest Way to Sell Stuff EVER
If you’re in business you’re selling stuff. And if you’re selling stuff you can always sell more of it.
The following three steps are the easiest way to sell more stuff, and are used in one form or another by countless businesses, and marketers to sell more stuff than they ever thought possible.
Whether you’re writing sales copy, ad copy, or selling face to face here’s your framework:
Step one: Here’s what I got
Come right out and say it. You can use those exact words if you want to, just tell your customer “Here’s what I got”. This is the easiest way to communicate to the would be customer that you have a product for sale, and they should be looking at it.
Step two: Here’s what it will do for you
Once again, be direct, honest and transparent. Tell your customer what you’re product or service will do for them. No candy coating, no fluff. Show and/or explain the benefits. If what you got is good, it’s something they want, and will help them, you really don’t need to do anything more than tell that to the customer.
Step three: Here’s what I want you to do next
No surprise here, yes you can just come out and say this…word for word if you want to. Don’t do everything right in your sales methods only to drop the ball when it comes to closing the deal. You’re in the business of selling things, and it shouldn’t come as a surprise to you or your customer when you come out and say you want them to buy your stuff. You can be blunt about it, as long as you are backing it up with solid reasons why they should give you their money.
Yes it’s really that simple!
That’s it – when you’re selling it comes down to telling the would be customer:
- Here’s what I got
- Here’s what it will do for you
- Here’s what I want you to do next
Everyone in business can do those three things, yet so few actually do. Keep this framework in mind the next time you go to sell something and see how well it works for you.
The key to "The Easiest Way to Sell More Stuff EVER” is to keep it simple, don’t make it more difficult than it needs be. If you have a product people want, or will help them solve a problem they have, keep it simple, get out of your own way, and sell it to them.
Here’s what I want you do next. If you find this kind of information helpful, sign up for our newsletter below so I can send you even more good stuff for free.
Photo Credit: jespis’ photostream
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10 Mistakes Entrepreneurs Make
When it comes to making mistakes, I can tell you I’ve made my share.
Each of the 10 mistakes commonly made by entrepreneurs I have made, a couple I’ve made on more than one occasion. The key is to learn, get better, and let the past be your guide for the future.
1. Creating projections to make the numbers work
As entrepreneurs we usually believe so fully in our idea, or business concept, that we end up “tweaking” the numbers just a bit to validate our beliefs. It’s usually not intentional, and seems harmless at the time to say “yeah, maybe we’ll get 1.5% of the market instead of 1%…yep, see now look how wildly successful this will be!”. Or saying things like, “Nah, I really don’t think expenses will run at 30% of revenue…it’s probably more like 28%”. Do your diligence, make your projections as accurately as you can, and live with what the bottom line number tells you.
2. Overestimating market potential
You’re so sure of you product, and know your service will change lives that you just can’t see how you won’t capture at least 75% of the market…right?
3. Overestimating necessity of what you do or provide
Not only will you capture that 75% of the market, there is no way anyone can live without you and your company. They’d be fools not to line up at your door…right?
4. Believing you can do it all yourself
So easy to fall into the trap of doing it all. Nobody is an expert at everything, and if somebody tells you they are either they are trying to fool you or themselves. Know what you don’t know, and accept the help of experts. That doesn’t make you weak, it makes you stronger.
5. Underestimate time lines
Conception to launch in 5 weeks, no problem! Your enthusiasm will lead you to believe you can do things quicker than is humanly possible. Set timelines that push you, but keep in mind what is realistic.
6. If, then outlooks
If I get funding, then I’ll be able to hire the best managers in the world. If this idea goes well, then I’ll write a business plan. If we get some sales, then we’ll do more marketing…etc, etc.
7. Believing that short term goals will lead to long term success
If you keep achieving your short term goals, you should be on the right track long term, correct? Not so fast, unless you tied your long term (3-5 years) goals to short term achievements, there is nothing to say you’re going in the right direction. Short term goals without a long term focus is akin to racing between telephone poles without knowing where the finish line is.
8. Underestimating current and future competition
It’s easy to think you will dominate the market due to your superior business model, and underestimate the competition. You may well dominate, but the fact that they are in the market before you gives them an inherent advantage. Respect it, and build it into your analysis. Also, remember that new competition can always enter the market, so while you kicking butt don’t forget there could be a bully out there ready to take your lunch money.
9. Thinking that if you see the value in what you do your customers will too
Don’t assume your customers are just going to “get” what you’re doing, or see the value in it just because you do. Make sure you are “reminding” them, in your marketing, advertising, and branding messages.
10. Forget that building a business is different than running one
These two are not one in the same. The adrenaline rush you feel in the startup phase is very different than what it feels like to run a business day in and day out. When that adrenaline rush wanes, some entrepreneurs will feel let down. Hopefully you’ll still find running a business exciting, but some find that they enjoy the building phase more than the daily operations of doing business.
Photo Credit: swamysk’s photostream
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