Editor’s Note

Hello

I’ve spent the last 5 weeks learning more about marketing practices that are currently sweeping through Europe, Dubai and India. Its interesting to see what works and what doesn’t in different markets. Australia has a unique business environment and there are few similarities between our market and those countries which I visited. I would have to say that it seems that the marketing strategies employed in the U.S.A. are often those that succeed in Australia, after some time delay.

At the current time global marketing trends seem to be following the direction of relationship marketing. In India, for instance, corporate companies large and small are hiring business development staff and sales managers who can help them build relationships with their clients. The immediate benefits include winning clients through relationships rather than engaging in a price war, and increasing sales through up-selling. The long term benefits will be in the continuing customer loyalty which this approach will generate.

I look forward to sharing more of the marketing ideas from around the globe with you. For right now, keep reading BRW Magazine as my Marketing Matters column will always bring you the latest in marketing trends.

I recently had the pleasure of meeting Kev Ryan who, over the next few issues, will share strategies for managing debtors.

Until next time…
I wish you marketing success!

Rebecca Laskary
www.profilepublicrelations.com.au

In this issue

Onion Media's Business Success

Top 5 Business Tips

Tips to Reduce your Debtors

Nick Piper was a successful primetime TV presenter for the Canwest Network, hosting an international travel show for several seasons, a million dollar Grundy game show and several light entertainment formats.

Joe Thomas trained at the Emirates Aviation College in Dubai and worked with Emirates Airline for a number of years until he found himself in the destination management division of the Emirates Group as a project manager. This new role invigorated his interest in film and television working on international projects that sometimes took two-three years in the making for a five-day event, sometimes involving up to 10,000 people.

Joe says: “Although the job was exhilarating and rewarding, I had a void – I kept thinking to myself - this process involves many elements of filmmaking and yet it is not making film!

I had to take the next step...[more...]

http://www.onionmediagroup.com

Joe Thomas

Nick Piper

1. Do you see yourself as creative? Being creative is not the same as being artistic. Few are artistic, but most people can be creative, if given a chance. Creativity is about finding solutions to a set of complex problems. Business problems can always be solved by you and your staff applying creative thought.
2. When you gain a new client, they immediately want to know what your service will cost. Tell them up front. This initial period in the relationship, in which they have selected and trust you, is when you have the most leverage - not later. Stick to your quote unless circumstances change markedly, and their trust in you will grow.
3. When you’re asked to give a quote, there is a temptation to underprice yourself to win the job. Things nearly always take longer than you can envisage in the quoting stage, and most people sell themselves short. If you get more work from this source, how can you ever get your true worth? Stick to what you know is a fair price...[more...]

Your may have considered one or two of these ideas for improving your receivables process, but in case you haven’t, let’s look at some basic areas to cover:

1. Put the due date on your invoice
   Don’t use a phrase like “payable in 14 days”. A date will have a better chance of sticking in a clients mind or them putting it in their cash flow budgets before the date. Use a phrase like “This fee is payable before or on the 15th of February”. A set date will also allow you to better track the debtor, and give you a point from which your collection process can start, essentially assisting your collection because the client is aware that this is a date from which they are now overdue.
2. Remove the days overdue
   If you are using statements then take the positive step to remove 30, 60 and 90 days. By advertising that an amount is beyond your payment terms and into 30, 60, 90 and 90 plus days you are inadvertently advertising the fact that you will accept payments at these very late stages. This is simply sending the wrong message to clients...[more...]

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