Make It Pop!

Posted by terimoten

There are 5 major components to good advertising copy: (The order of these is essential to success)

  • Command Attention
  • Showcase Benefits of Products/Services
  • Prove the Benefits
  • Persuade People to Embrace the Benefits
  • Call to Action

Advertising is sales in print. So, you need to think about the unique benefits your products/services offer and showcase that in a persuasive way. You need to emphasize results, not features.
Let’s take a minute to talk about each of these components:

1. Command Attention: This is usually accomplished with the headline. You need an attention-getter that makes people want to know more about your products/services. The best headlines give a vivid portrayal of the benefits or show how a problem can be avoided with your products/services. The headline is the advertisement for the advertisement.

2. Showcase Benefits: You have to showcase the benefits of your products and services and, more importantly, show how they will solve or prevent a problem. They need to know what’s in it for them. Include useful, factual and clear information to show precisely what the benefits are and how they are going to help the customer.

3. Offer Proof: This is where you prove what the advertisement is offering. You need to establish you have a method to deliver. Consider information that establishes credibility and past performance.

4. Persuade: You need to add compelling reasons for your potential customers to purchase your products/services. Use a hard sell approach and create scarcity. This will enact your potential customers to feel like they have to act now. Which leads into the last component.

5. Call to Action: You need to compel your potential customers to DO something. They need to check out your site, sign up for your newsletter, purchase your products, contact you about services…something. Offer a freebie-a booklet, sample, product, bonus, demo, consult, limited time price…the list goes on. There are lots of ways to get potential customers excited about ordering and help them feel like they are getting an amazing deal.

Good advertisements include all of these components and are not complete without any of them. You can sit down and think through any one of these components, then figure out how to best place them together for the most effectiveness. We can help you with this too. Try our GUIDED TOUR to learn how to put together great advertisements from some of the best in the business.

Teri R. Moten, MBA, Your Business Problem Solver

R&D Tax Credit: Are You Missing Out On Tens of Thousands to Hundreds of Thousands of Dollars?

Posted by terimoten

History of R&D Tax Credit

The Manufacturing Incentives benefit is a Federal program designed for Companies that perform Manufacturing in the U.S. This program is listed under Section 41 or the IRC (Internal Revenue Code) and continues to be amended on an annual basis as the U.S. Manufacturing landscape continues to evolve. This is an engineered based program that focuses on a company’s operations and processes in order to determine their qualification for incentives. The Manufacturing Incentives benefit provides an avenue to receive ‘tax money’ back from prior years while also reducing current taxable income on a dollar-for-dollar basis.

Who Qualifies for R&D Tax Credit?

Who and what qualifies as research and development (R&D) is much broader than most realize. Activities and costs related with developing or improving a product and/or process often qualify for R&D tax credits. Furthermore, engineering, design, testing, and programming are now included as Qualified Research Activities (QRE). Industries that most commonly qualify are:Manufacturing

  • Fabrication
  • Engineering
  • Software Developers
  • Chemical
  • Tool & Die
  • Machine Shops
  • Plastics Manufacturers
  • Pharmaceutical
  • Biotechnology
  • Food Sciences/Manufacturers

What Are the Benefits of R&D Tax Credit?

The benefits of having an R&D Tax Credit Study performed would be:

  • Dollar for dollar credit against taxes owed or previously paid
  • Carry forward credit for future profitable years
  • Immediate increase in company cash flow
  • Credit average is over $25,000 per $1,000,000 in total company payroll

 

Our Methodology

GMG, the consultant team I collaborate with, utilizes a team of highly qualified professionals including IP attorneys with engineering backgrounds and adheres to the Comprehensive Project by Project Approach methodology as required by the IRS. By following this methodology, we qualify every applicable employee, activity, hour spent and corresponding wage paid in order to maximize the incentive for our client. We strictly adhere to the applicable sections of the code and provide first-in-class documentation to substantiate our findings.

Here’s an article from Forbes on the R&D Tax Credit:
https://www.forbes.com/sites/deanzerbe/2019/04/26/rd-tax-credit-still-the-one-for-small-and-medium-business-owners/#5b5e77a92910

Getting Started:

An initial consultation is done over the phone with one of our R&D Specialists to identify potential Qualified Research Expenditures (QRE). If qualifications are identified, GMG will collect an authorization to begin working on the client’s behalf. No fee is charged until credits are identified and utilization is verified with the client’s accounting representation.The initial consultation is a simple and quick process. By completing a quick survey, our software will search hundreds of Local, State, and Federal programs that fit your qualifications and help you claim your benefit. Click here to complete the tax credit survey https://emergencybusinessrelief.com/123949

Teri R. Moten, MBA, Your Business Problem Solver

Kick Start Your Marketing

Posted by terimoten

Today I’d like to teach you about the three most important start up marketing tools you need to get and keep new customers.

  1. In person: It’s essential you meet with customers/clients in person whenever possible. This shows you respect them and take the time to work with your clients to give personal attention to each of them.
  2. Follow up letter: Always take a moment to send a follow up letter about what you talked about, new agreements or partnerships made and to thank them for taking the time to meet with you. Likewise, you should always send thank you letters or small gifts to partners you find success with.
  3. Phone call: Use a telephone call to follow up with them to talk again about the matters you talked about in your meeting and offer any assistance you can to help their business run smoothly and more successfully.

None of these will work if you don’t have a quality product/service to back you up!

Here are the key steps for putting together your start-up marketing tools:

  1. Research potential customers, buyers, competitors and their preferred methods of distribution.
  2. Talk to potential customers. Take a hard look at your product from a customer’s perspective and see what it needs to be successful.
  3. Follow up with your 3-step process from above.
  4. Develop systems for contact follow through, quality control standards and customer service.
  5. Develop post-sale follow up system to keep lines of communication open is customers and build on your current relationship which increases future purchases.

“Marketing and innovation produce results; all the rest are costs” Peter Drucker, management consultant

Here’s another one I love from an icon:

“If there is any one secret of success, it lies in the ability to get the other person’s point of view and see things from that person’s angle as well as from your own.” Henry Ford, Founder of Ford Motor Company

This lesson has offered you the tools to put together a start-up marketing plan that can be used over and over again to help your customer base and business grow in a manageable way. The tools offered in our FREE test drive offer these very same things.

Stop Wasting Your Resources!

Posted by terimoten

Today you’re going to learn how to find a target market of potential customers so you aren’t wasting precious resources on blitz marketing. So, the two questions you have to ask yourself are:

  • What do people really want to buy from me?
  • What related products are they already buying?

Once you figure this out you will know who is more predisposed to purchase your products/services. Then, you find other businesses with the same customer base who you can customer share with. Come up with an incentive and great arrangement to encourage both of your customer bases to shop at both of your stores.

The basic concept is this:

You want to find existing businesses who have the customer profile that you are looking for to market your products/services to.

Then strike up a relationship with those business owners to work out an incentive for customers to purchase from both businesses.

As a result, you have an audience to market to and they generate an added value from their current base.

So, how do you figure this out? There is a great formula from Jay Abraham you can follow with great success.

LV = (P x F) x N – MC

Here’s what it all means:

  • LV is the life time value of a customer
  • P is the average profit margin from each sale
  • F is the number of times a customer buys each year
  • N is the number of years customers stay with you
  • MC is the marketing cost per customer (total costs/number of customers)

Once you know how much you need to spend to attract a new customer, you will know how much of an incentive you can offer to a business to help attract new customers.

So, here’s your step-by-step process:

  1. Find companies who already have the customer base you are looking for.
  2. Negotiate an incentive for them to share that customer base with you.
  3. Focus your marketing resources to this group of predisposed customers.

If you need help working through this process, check out our FREE test drive for the most comprehensive system of marketing tools and resources.

Educate Your Customers

Posted by terimoten

Educate them about what, you may be thinking. Well, consider this, many businesses focus solely on attracting new customers, but you NEED to spend a good chunk of your time retaining current and former customers. These are people you already know to be a good sales potential…they’ve already bought from you!

Take the time to market and sell new products to your old customers and less time trying to sell old products to new customers and you will see a drastic change in your sales, customer quality and branding position.

Here are a couple of key elements to use to retain your current customers:

  1. Stay in contact: This means by phone, email, e-newsletter, in person-by pigeon if you have too!
  2. Post-Purchase Assurance: This means you need to follow up with customers. Your customers need to feel like they are being supported for their purchase and with the item they purchased. How many times have you purchased a product, then felt completely abandoned? Something as simple as a Thank You note with your contact or customer service information can go along way in retaining a great customer.
  3. Deals & Guarantees: Always offer your current customers the best deals and guarantees you have. Show them you appreciate their business or even come up with a club specifically to reward loyal customers. You can also do this with a preferred pricing option.
  4. Integrity: Using good business practices and simply upholding integrity, dignity and honesty go along way with customers. Let’s face it, there’s a lot of swindling and crap out there and the safer and more confident you make your customers feel, the more they will trust you and that makes for an amazingly supportive and loyal customer.

There are three cornerstone ideas to a successful business:

  • Quality product/service
  • Offering useful products/services that solve a problem for or enhance the life of a customer
  • Offer subjects your customers find interesting

Use this approach of educating your customers and offering them real information and insight and you will be rewarded with loyalty and success.

Stop wasting all your time on new prospects while your current customers fall by the wayside!

As Jay Abraham says, “Your best prospects are your existing customers. If you’ve been putting all your marketing efforts into acquiring new customers, stop and diverts some of your resources into reselling, upselling, cross-selling to those same customers. In every ways possible – through package inserts, regular mailings, special offers – stay in touch with those customers and get them used to buying from you.”

So, there it is! Remember, our FREE test drive can help you put together the resources and tools to do exactly that. We can help you educate your customers and you can watch the benefits pay offer many-fold.