Archive

For December, 2010

Dec 31

Joint Venture Marketing: Gaining New Business from Shared Client Lists

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Joint venture marketing is a highly successful strategy for attracting new prospective clients while learning how to expand your network of professional contacts. One of the secrets of a successful Internet business is to develop and maintain a strong and loyal customer base, while you continue to gain new client contacts and gain new business. This is a tricky balance to maintain – it takes a lot of time and energy to maintain loyal customers and continue to develop stronger relationships, while you put energy and resources into expanding your client base.

Owning a small business, particularly one that isn’t heavily staffed, can take a lot of personal energy as well as time. Many Internet business owners, particularly when just starting out, are running the business by themselves and do not have the time to both develop new business and maintain strong contacts with their existing customers.

Loyal and Repeat Customers

Once a new Internet business gets off the ground, part of its bread and butter is its loyal customer base. When you’ve developed relationships with clients who are happy with your products and services, you can anticipate and rely on a certain amount of repeat business which has the potential to keep a new, or even an established business in the green.

If you have a loyal customer following that you rely upon, your business may be able to happily hum along for months or years to come. But if you are interested in expanding your business, it is essential to expand your client base as well. This is where a joint venture marketing partnership can be the key to ensuring the long-term success of your business.

Expanding your Client Base

One of the most popular ways to form a joint venture marketing partnership is through the sharing of client lists and data. This is usually done between two companies that do not offer exactly the same product or service, but who have similarly related products.

You don’t want to forge your partnership with a company that will be in direct competition for customers – this would defeat the purpose of the partnership and would serve to shift clients from one business to the other, rather than improve and expand a customer base for each company involved.

Instead, form partnerships with companies whose clients have demonstrated an interest in a certain type of product or service that relates to the product or service your company is providing.

For example, if you sell high-end, imported hair care products, you may want to form a joint venture with a company who sells high-end skin care products. It stands to reason that customers who are interested in your imported hair care products will also be interested in your joint venture partner’s high-end skin care products. These are products that are in the same realm, but not in direct competition with one another, which is exactly what to look for when seeking out marketing partners.

Dec 31

Trans Pacific Ocean Shipping Market Update – March 2011

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Dear Valued Business Partner,

I just returned from the Transpacific Maritime Conference in Long Beach, California.

We had the opportunity to hear from various industry experts sharing their perspectives on how the TP market will play out in 2011, so here is our take:

Supply vs. Demand Forecasts:

Analysts predict 2011 Transpacific shipment growth will be between 6% and 9% for imports and 11% for exports above 2010.  They are calling for continued growth in the US Economy as well as retail sales approaching levels not seen since prior to the world financial crisis of 2009.  The U.S. Economy grew by 2.9 % in 2010 and some analysts are predicting 2011 growth to be at 3.2%

On the supply side, vessel capacity has been added, and will continue to be added in 2011 and beyond.  Analysts estimate capacity growth of 7% to 9%.   This prediction comes on the heels of Maersk Line’s confirmed order for 10 x 18,000 teu vessels.  While these vessels will not be deployed till 2013 and 2014, a sufficient number of new vessels are scheduled for delivery in 2011.  In addition to the current carriers deploying larger and additional vessels in 2011, at least 4 steamship lines have entered the Transpacific trade.  The additional capacity being provided by carriers such as, The Containership Company (TCC), Grand China Line (GCL), Hainan PO Shipping (POS), and Horizon Line will no doubt increase capacity and affect the market.  It is important to realize, that most of the “new” carriers only provide Long Beach CY service, therefore, the West Coast CY sector will be most affected by the “new” carriers.

Import Additional Factors:

a.      Oil prices are going higher as evidence by the diesel fuel price index which has now past $3.60/gallon (up from 2.85/gallon in early February 2010).  The factors driving the fuel price increase are a rebound in the world economy and instability in the mid-east and northern Africa oil producing regions.

b.      Equipment shortages will play a major role in 2011 and 2012.  The shortage of containers in the coming 2 years is a result of “slow steaming” by which vessels are moving at slower speeds to conserve fuel.  In order for carriers to maintain consistency in sailing schedules, vessel operators need to deploy additional vessels to each service string where “slow steaming” takes place.  By adding additional vessels, a need for additional containers is required.  This coupled with the larger vessels being deployed and in 2009 container production was reduced, sufficient equipment required for the trade will be in shortage.

c.      Intermodal costs will continue to increase due to increased utilization of the railroad and due to new federal motor carrier regulations, which will cause a reduction of active over the road trucks and drivers.

Rate Outlook:

Based on the above factors, as well as many discussions with industry members, it is our feeling that short term (till 5/1/2011) freight rates will decline for West Coast and East Coast CY  moves and rates to inland points e.g. (Chicago, Kansas City, St. Louis, etc.) will remain consistent with current rates.  In the longer run (from 5/1/11 to 10/31/11) we believe that coastal freight rates will remain consistent, however, increased fuel costs will result in overall increased costs to inland door points.

We will be closely monitoring the situation, and keep you updated of any changes.

Dec 30

Business Cards: Effective in Marketing Your Business Brand

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Many small businesses sense that only big companies need to think about brand names. But branding is as important to small businesses as it is to multinational businesses. Your brand basically says a lot about you and your business, and what products and services you offer. With a strong brand, you can easily set your business apart from the competition and place the right foundation for the growth of your business.

Your brand is actually more than your logo or your business name. It is your identity that tells everyone who you are, what you do, and can you offer to people. A good brand establishes your importance and credibility with your potential customers.

There are many ways to create a strong brand for your business. The easiest and most cost effective of them are the business cards. These humble cards can effectively give you the identity that you want for your business. Your brand will tell everyone personality of your business and your business card will convey your current brand. But let me ask you, when is the last time you printed or updated your business card? Maybe when your business is just starting out? Well, now is the time to update your cards. But before you print your new cards, you need to assess it to make sure it still embodies your brand.

Hopefully, you have a good brand that doesn’t need to be updated a lot. But, if you add new products or services to your business, you need to change your business card to reflect your new brand. Ideally, people will look at your card three times: when they have received it, before they place it their pocket, and when they are deciding if they will keep or throw away your card. On those three occasions, your business card has to make an impression. Each time the person looks at your card, he should feel impressed and interested. He should see the same brand that will encourage him to contact you at once.

To ensure your business card markets your brand effectively, follow the following pointers:

? Print your card in color. Forget about black and white cards. Today, color printing is the trend if you really want to stand out. A little money will not matter if what you get is increased sales and profit. There are many printing options today such as embossing and die cutting, which will truly make your business card look interesting.

? Hire a professional designer. An expert designer has the knowledge and skill in creating business card templates that will market your brand effectively. If you don’t know a designer, you can one in printing companies.

? Coat one side of your business card. A coated card will help make your card strong and durable. It won’t get creased easily keeping your card look professional and credible. Just coat one side to allow the other side to be written with notes. You can coat the front to allow writing at the back or the back if your card stock has a good texture that showcases your font well.

? Make use of the back part. You can use the back of your card to print other information such as emergency phone numbers, a calendar or a list of your top products or services. The valuable information you provided will encourage people to keep your card.

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