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Next Generation Email Marketing Systems Are Providing More Than Email
In June, this Newsletter featured the use of email systems with direct broadcast and autoresponder capabilities. These are great tools to capture leads, send out email messages and build a relationship with your customers. However, today's email systems totally depend on your customers opening their emails...and in our busy world, we are finding that many of us are not opening our emails as frequently as we used to open them. At the same time, have you noticed that many of us have our cell phones with us all the time? It has been reported that some of us actually sleep with our cell phones in order to not miss a message ... and most of us will look at a text message as soon as it has been received.
This behavior leads us to ask, "could we use our email marketing system to also automatically send a text message, as part of the autoresponder series of messages to a lead or customer that has opted into our list, and encourage them to open and read the email we have sent them?" We believe that if we can get our leads and customers to read our messages, we will be able to grow our business!
Another recently noticed behavior is that many of us do not answer calls from phone numbers we do not recognize, however we will listen to our voice mail messages. Knowing this behavior leads us to again ask, "could we use our email marketing system to automatically send a voice message, as part of our autoresponder series of messages, directly to the voice mail number of our lead or customer, and encourage them to open and read the email we have sent them?" Again, we know that we will be able to grow our business if we can just get our leads and customers to hear our messages!
The capability to send mobile text, and direct to voice mail, messages as part of the email autoresponder series of messages, is available today and these capabilities are just the tip of the iceberg for the next generation of autoresponding follow-up email systems ... and I am sure you are learning that these systems are more than just email systems. They are comprehensive, multichannel, marketing and selling agents that use email, and much more, in an integrated way.
What if these capabilities, plus some new marketing tools and automated sales agents, could be found in one place and provide the versatility and effectiveness of a Swiss Army Knife? With these capabilities, it is clear we will be able to increase the efficiency and effectiveness of our efforts to get our marketing message out ... and grow our business!
Today, it is becoming clear that the same "ol sales pitch" does not work anymore. The days of print advertising and direct mail as our only options are over. It takes more than just delivering your message in order to close a sale. Our prospects are searching for a trusted advisor ... someone that can meet their needs and solve their problems. The message to our target market must address the specific needs or problems that a prospect in our target market is experiencing. So, we must have a way to connect with, learn about, and offer a solution to our leads that converts them to customers.
For our marketing and sales activities to be successful, we need to build trust, develop powerful relationships, provide education about our solutions, and deliver a compelling call to action, so that the potential customer takes the next step in solving their problem (which is to buy your product or service and satisfy their need).
So, let's discuss a few more marketing tools of our Swiss Army Knife that can help us: followup with leads and customers; build trust; and provide education about what we offer. These tools enable us to create a more comprehensive and effective marketing process and empowers us to become a trusted advisor with a solution to the needs and problems of our leads and customers.
There are many methods to get contact information of our prospects into our mailing list. One way is to manually key the contact information, we obtain, into our leads list. Another way is to have an opt-in form, on a webpage, where we can entice prospects to provide their name, email address, and mobile phone number so the contact information can be captured and transferred into our leads list. These methods can be used to create a leads list and then automatically send a followup email message, to each lead on the list with a link to our website. Another method is to get contact information into our mailing list with a business card scanning app that you can download from an online app store ... and you can use it with your smart phone.
When you capture the contact information from business cards collected at a trade show or convention, you need to determine if the new contact is a potential partner or if they are a potential customer. You need to followup with them and develop a more powerful relationship. Often, you are already overworked and have many other business tasks to do, but you know the followup must be done. This is why the stack of business cards staring at you, requiring follow-up, is frequently called the follow-up monster. It is one more chore chomping away and eating up what little time you have.
What if you could tame that follow-up monster by automatically capturing the contact information (using the business card scanner app on your smart phone) and then automatically begin to deliver a series of previously prepared multichannel (email, text, and direct to voice mail) messages? What if you could capture valuable information about your leads and learn about them by having automated agents visit their website, social media sites, and the online profiles on their sites? What if you could even send them a brief survey with a few simple questions and automatically collect their responses to the survey questions? All of this data could provide more targeting information that you can use to build trust, develop powerful relationships, further qualify your new leads, and turn them into customers. Plus ... what if you had a way to tell your story, deliver your message, and market and sell to your leads as you build your relationship with them using a series of online and automated teleseminars and webinars? It would be the equivalent of providing collateral, and product or service education, to your leads and customers. It will position you as a trusted advisor while marketing and selling to your leads and customers ... all in an online and automated way. It will help you increase the conversion of prospects and leads into highly satisfied, well paying customers of the solution, and value, you provide.
In summary, next generation email systems are here now and they are more than just email. They are a collection of capabilities with automation agents that change the way you deliver your message, grow your business, and promote your cause. They are a revolutionary new way to communicate and followup with your business connections, leads, customers, family and friends. You are able to create marketing campaigns that utilize all the traditional channels of lead generation such as phone, email, and opt-in forms on websites plus the game changing new methods of mobile text marketing, business card scanning, and automatically delivering product or service information and education using teleseminars and webinars. The capabilities enable you to set up your marketing campaigns and then put your followup efforts, on autopilot. They also give you the added versatility to analyze, and modify, your campaigns on the fly.
Capturing leads, building relationships, creating trust, and following up, could not get much easier than this. It does not matter if you are a small brick-and-mortar business, or a services business, or a Fortune 500 company; your business can now truly have MonsterFollowUp ... that is effective and low cost!
It is now up to you to improve your productivity, increase your effectiveness, and grow your business by taming the followup monster and turn it into your greatest asset Learn how to use automation agents to capture leads, learn about them, automate the followup, and market to your leads and customers with teleseminars and webinars. With these capabilities, you can spend your limited one-on-one time with the most qualified leads thereby increasing your conversion rates.
At this time, the existing email solution providers are all scrambling to add the capabilites, described in this article, to their systems. New providers are emerging that focus on mobile marketing solutions, and the existing webinar providers are scrambling to add automated teleseminar capabilities. An integrated suite of MonsterFollowUp capabilities is available for your business today!
For more information contact Mike Farrell, a Touchstone Services Partner with aspenIbiz Marketing Group. He can be reached at 303-888-4490 or aspenIbiz@gmail.com.
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Touchstone Business Listings:
Grand Lake Interior Design and Home Decor Retail Store - Gross $550,000, Asking Price $75,000 + Inventory - Prime Boardwalk Real Estate available for $300,000 Operating for over 10 years, this business is well-known among Grand Lake and mountain area homeowners, many of which have vacation homes, which tend to have higher turnover rates. That creates steady demand for remodel, interior design and home decor products. Customers choose this business for its mountain style furnishings and convenient location -- and the individual attention the store owner can offer. The business has strong relationships with suppliers and many great reference customers. The business is being offered with the real estate, a 1,080 sf condo on the boardwalk in downtown Grand Lake, CO. The owner would consider leasing the real estate as well. This is a great opportunity for an individual interior designer or Metro area firm to gain a footprint in the mountain market .Colorado Springs CPA PracticeUNDER CONTRACT Established, profitable accounting practice, with experience in all matters of accounting and taxation, IRS problem resolution, estates and trusts, business formation, financial planning and investment, real estate and business sales. This small practice is located in a professional office building with good lease, easy access and free parking. Sole practitioner firm employing one part time assistant. This employee is not a CPA or EA. The firm is primarily an individual tax practice. In 2010 82% of revenue was derived from tax preparation. 80% of those tax preparation fees were individual returns. In 2010, 245 individual returns were prepared along with 27 business returns.Manufacturing (MRP) Software Company - Diversified Customer Base, Recurring Revenue Stream - 2011 EBITDA $210,000+, Purchaser to Submit Offer/Terms Provider of Manufacturing Resource Planning (MRP) Software. Relocatable anywhere, the Company is currently based in the MidWest region of the United States. 2011 EBITDA of $210,000+, with revenue predominantly coming from annual license fees; and additional revenue from software sales, training and installation. Software is in use by customers with revenue ranging from $1M to $50M+ without geographic or vertical market concentration in the United States, Canada, Mexico and Europe. Distinguished from competition by low cost; unlimited seats and support; and proprietary software code that is stable and that has potential to be migrated to SaaS or other platforms. "Green Tech" Solar and Roofing Company  Home Automation/Electronics Design & Installation - Turn-Around Opportunity -- Owner Financing - Gross $1,500,000, Purchaser to Submit Offer/Terms The company is a globally recognized custom digital electronics and control / systems integrator firm specializing in high- performance commercial board rooms, media projection systems, media rooms, lighting/climate control, communications, security, environmental/energy management, pre-wire and automation control systems for both residential and commercial applications. With a 23-year history, in addition to its stability/longevity, the company's strengths are its extensive scope of services, highly trained/certified staff, extensive customer base, impressive design studio and reputation as a leading design/integrator. Financial Services Industry Training/Research Company - Extensive Growth and Expansion Opportunities - Gross $480,000, Cash Flow $300,000, Purchaser to Submit Offer/Terms This company was founded with the mission to assist financial institutions develop a sustainable competitive advantage through service quality delivery and sales effectiveness. The firm specializes in research, training and consulting solutions that improve bottom-line sales and service quality results. The firm's products include a proven and proprietary process for inculcating cultural change, service quality research via customer interviews, on-site mystery shopping and web-based surveys, a comprehensive library of basic and advanced sales, service and leadership training programs, training needs assessment process, leadership skills inventory and incentive compensation consulting. Founded in 1995, the firm has a 15 year track record of producing results for financial institutions throughout North America. Local Metal Fabrication Die Casting Manufacturer - Possible Business/RE Fold-in with Existing Machine Shop
- Gross $250,000, Cash Flow $50,000, Asking Price $100,000
The company is a Denver-based die caster, who manufactures zinc and aluminum components. Castings are small (less than 2 lbs.) and are typically produced in short run quantities of less than 1,000 per order. Customers are primarily local. In over 60 years of existence, the Company has built a strong local reputation for quality service. The Company operates from a wholly-owned production and warehouse facility which is available in addition to the purchase price. This is an opportunity for a synergistic acquirer to add additional capabilities; a strategic combination with a firm already in the die casting or a related machine shop industry; or, an individual to acquire a small family-run business with a 63+ year operating history. Full-Service HVAC Contractor UNDER CONTRACT - Possible Fold-in with Existing HVAC or Related Business
- Gross $1,800,000, Cash Flow $250,000, Asking Price $450,000 Full-service, very profitable HVAC Company with increasing year-over-year sales. The company serves the Colorado front-range area. With high regard for their professionalism and competitive prices, the company serves commercial, residential new construction and repair/service. The company is easily relocatable or merged with an existing HVAC or related business.
Neighborhood Restaurant - Great Opportunity for Chef/Operator, 2010 Sales up 4% - Gross $780,000, Cash Flow $100,000, Asking Price $300,000 Established neighborhood restaurant/bar located in renovated historic building in NE metro Denver area. Cozy layout with seating for 60 +/-, open for dinner only, catering service that may be expanded. Excellent food, award-winning recognition, full liquor license in place. Opened in 1997, current concept of fine dining with a family atmosphere is a successful stand alone model or could potentially be replicated in multiple locations. Loyal customer base is comprised of urban professionals and families from the greater Denver metro area and from surrounding suburbs. Low rent, clean books, sales have held-up well through this economic cycle. Perfect opportunity for young or established Chef with energy to take over a successful restaurant and add their touch. Taos Greeting Cards, Gallery, Chocolate and Gift Shop - Central Location, Repeat Customers, Expand Online - Gross $150,000, Cash Flow $52,000, Asking Price $149,000 Popular upscale card, art, chocolate and gift shop located adjacent to the premier shopping plaza in Taos, NM. The business specializes in unique greeting cards of their own design and from small card companies across North America and Europe. They offer unique gifts and original art work by local artists and from around the world, as well as hand-made chocolates from NM chocolatiers. The business serves repeat regional clientele, as well as tourists visiting the Santa Fe and Taos art scene from around the world. Since its inception in 2002, the business set out to establish its retail store as the premier boutique for cards, local artisan works, chocolate creations and regional gift items in Taos. The company differentiated itself from the competition by creating their own line of greeting cards and unique product mix. Their upscale and unique mix of products give the store the feel of a sophisticated boutique. The business prime high traffic location, word of mouth and a stellar reputation, has enabled establishment of the store s brand. Growth potential exists in existing business model, as well expansion of pottery, spirituality/new age and local artist offerings and expansion of online sales. Unique Floral, Gift and Home Decor Retail Store - Great Upscale Location, Repeat Customers - Gross $190,000, Cash Flow $20,000, Make Offer Popular upscale flower, gift basket/gifts and home decor shop located in an upscale retail shopping area of Denver. It has some of the city's most prestigious individuals and corporations as its clients. Since its inception in 2004, The business set out to establish its shop as the premier boutique for flower arrangements, gift baskets and gift/decor items in Denver. The company differentiated itself from the competition by using unusual flowers and offering sophisticated arrangements that were artistic and tasteful. Their upscale and unique gift offerings have established the feel of a sophisticated boutique. Word of mouth, participation in an exclusive wire service and a stellar reputation, has enabled them to establish their brand. Growth potential exists in existing business model, as well expansion of wedding and event business. Contact Touchstone for more information or to discuss your business acquisition goals!
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Wall Street Journal:
Sales of Small Firms Are UP!
More small-business owners sold their companies in the second quarter, but there's gloom surrounding the transactions. Sales of businesses with roughly $350,000 in annual revenue rose 8% from a year earlier, reports BizBuySell.com, an online marketplace for small-business acquisitions in San Francisco. The increase marks the third year-over-year quarterly gain in a row, with brokers nationwide reporting similar gains.
Yet the growth isn't indicative of significant improvements in business performance or bank-lending volume. Instead, the main driving force is the acceptance among owners that their businesses are no longer worth what they once were. Many sellers cut their asking prices and agreed to finance a significant portion of the deals themselves.
"Sellers are finally starting to come to grips with the fact that it's not 2007," says Stephen Wain, president of Calder Associates Inc., a brokerage in Tinton Falls, N.J. He adds that the firm has completed twice as many deals so far this year as it had in the first half of last year. According to BizBuySell.com, owners listed a median asking price of $239,000 in the second quarter, down from $249,000 a year earlier. For businesses sold in the quarter, the median selling price was $150,000, down from $155,000.
"People are getting more realistic," agrees A.J. Caro, chief executive officer of Bridge Business & Property Brokers Inc., a national brokerage based in Long Island, N.Y. Small-business sales are up 35% from a year ago, he says, and he is looking to add about 10 more brokers to his current staff of 25. Some sellers have simply reached their breaking point. "People can only sit on the sidelines for so long," says Robert Bourgeois, chief executive of Sunbelt of Louisiana. The brokerage franchise has sold 21 small businesses throughout the Bayou State so far this year, nearly as many as in all of 2010.
Meanwhile, many owners have had to offer financing to close deals. "With the tightening of the credit markets over the last 30 months, our brokers have made it very clear to our clients that they're going to have to take the place of the bank," says Randy J. Bring, a senior agent for Transworld Business Brokers LLC in Ft. Lauderdale, Fla.
Last summer, Ajay Walia put Pizza & Pipes of Redwood City, Calif., on the market for the second time. He had initially listed the 200-seat casual restaurant for $170,000 in 2008 because sales were slumping. Now Mr. Walia, who bought the place in 2002 for $200,000, is finally selling it for just $75,000, and he is lending the buyer 25% of the selling price. "There's a time when you have to bite the bullet and move on," he says.
Increasingly, small-business buyers are older, laid-off professionals seeking second acts, brokers say. Last July, Todd Kehoe used about 40% of his retirement funds to buy Vitamin Connection, a health store in a Reno, Nev., strip mall, for $200,000. Formerly an independent financial consultant, he says he needed a new line of work after the 2008 market crash depleted his savings. Unable to land a job, he took up entrepreneurship and now works seven days a week. "It's wearing on me now," he says. "I'm very tired."
Nonetheless, an increase in small businesses changing hands is generally positive for the broader economy, no matter the reason. Such firms account for more than half of private-sector employment and gross domestic product, and buyers are often eager to put their stamp on a purchase by investing in new talent and equipment.
Last year, 44-year-old Donna Merelli lost her office-manager job at a mill when it went out of business. In February, through Mr. Bring's firm, she bought Ocean Liquors LLC in Boca Raton, Fla., for $325,000-$50,000 less than the seller's initial asking price. The first-time business owner secured a $100,000 loan from the seller to be paid back within five years at 7% interest and used her savings to cover the balance. So far, Ms. Merelli has spent roughly $26,000 remodeling, adding a fresh coat of paint, a new wine cooler and other upgrades. Now, she hopes the investment will pay off. The alcohol industry is "somewhat recession proof," she says. "When times are bad people drink, and when times are good people drink."
For more information, contact Touchstone .
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Touchstone
Email Newsletter
From time to time, Touchstone has new business listings, changes to existing listings or important new developments, which are first previewed to those valued clients, who have previously expressed an interest in a business acquisition or sale. If you have a business associate who would be interested in hearing about our services, listings and /or receiving our articles, please forward this newsletter and they will be able to sign-up for future notices. You can also keep abreast of these changes and download NDA forms and business profiles on our website: www.touchstonebiz.comTouchstone Business Advisors is a boutique business brokerage advisory firm focused on serving the needs of business buyers and sellers. Our firm is committed to providing individuals and companies with high quality business acquisition, business transition, and advisory services. We provide clients with personal attention from start to finish and are entirely focused on achieving our client's objectives. For more information please contact Charles Spickert, Rich Bevelhimer or Thomas Lang.
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Earn-Outs
An earn-out provision is a form of purchase price adjustment that conditions a portion of the purchase price upon the business' achievement of specified operational or financial milestones. These provisions are often used to (i) bridge purchase price gaps, (ii) incentivize the seller's post-closing support, and (iii) align the strategic goals of the buyer and seller with the company's financial performance. Because these provisions are subject to influence by various factors, it's important to put in the effort up front to avoid post-closing disputes. Take the time to define the rules. Simple metrics are best and leave little room for ambiguity. As a seller, you should insist on metrics that are within your control. For example, you should never agree to an operations-based earn-out if you are not going to have any operational oversight or control post-close. For a seller, consider covenants regarding future operations of the company to maximize earn-out potential. A buyer will want to limit those same types of covenants to the extent they interfere with the buyer's ability to conduct its business. Defining with specificity the up-front expectations regarding performance goals is also an integral part of putting together an earn-out package. Most earn-outs are based on post-closing revenues or earnings before interest, taxes, depreciation, and amortization (EBITDA) targets, but even each element of an EBITDA target has to be considered. For example, are changes in profitability unrelated to the operational performance of the seller's business included in any earn-out calculations? Simple and clear earn-out objectives will eliminate many post-closing disputes relating to earn-outs.
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