November 11, 2009

10 Easy Ways to Put an Extra $50 in Your Pocket... A Gift
Card Pet Peeve Helps You Save Money... Extend Your Reach
Towards New Customers... Find Your (Profitable) Inner Child
for Your Info Marketing Business... and More.

I got an e-mail from a banking friend of mine over the weekend, telling me about a money seminar he had recently attended. The objective of the seminar was to provide bankers with ideas and strategies to help encourage clients to save for retirement.

Apparently, he tells me, people have been finding it difficult to actually save any money at the end of the month. Therefore, without savings, people had nothing to invest. So, where was all their money going?

If this describes you, I have a few ideas to get you started on saving up to $50 a month (or more!) without having to get another job. With the extra $50 in your pocket, you'll have a reason to go to the bank and start saving.

1) Just say "no" to ATMs with fees: ATM cards can cause you to spend more money than you should. When using your ATM card, avoid ATMs that charge you a fee per use. Take money out from your own bank's ATM in advance. This could save you up to $10 a week.

2) Shop around for lower insurance premiums: Chances are your current insurance company is not offering you the best price. The insurance business is so competitive today that you can even get a quote online within minutes. Also, to save more money, increase your deductible. You can expect to save up to $35 a month by switching insurers.

3) Cancel those add-on phone services you don't really need: They may have been a novelty at one time, but, honestly, services such as call-forwarding and call display are not that necessary for the average person. These two services alone can cost you an added $12 a month.

4) Skip the movies and rent a DVD instead: It's always fun to go to the movies, but try to limit these outings -- they can get expensive. If you have a routine of going out to dinner and a movie once or twice a month, try alternating months instead. Stay home, make dinner, and rent a DVD every other month and you'll save a whopping $50 easily.

5) Bring a lunch to work every day: Without a doubt, lunch is the biggest budget killer. The average meal at lunch these days can cost up to $10. If you avoid buying lunch once a week, then you're looking at about a $40 savings per month. 

6) Go to the library instead of buying a new book: Your book collection can wait. Books aren't getting any cheaper, so make reading a free pastime. If you normally buy two books a month, you could be saving between $25 and $50 by changing this habit.

7) Stop using your dishwasher: If you hate doing the dishes manually, why not make it a family event and stop using your dishwasher during the week? With the rising costs of electricity, expect savings of about $10 a month simply by giving your dishwasher a break.

8) Don't stop for coffee; make it to go: This may be a difficult ritual to break, but buying your morning coffee can run you an added expense of about $25 a month. If you cut back on your coffee habit twice daily, there's your $50 savings. Why not start a coffee program at work and get others to start saving, too?

9) Don't play the lottery more than once per week: You'd be amazed at how much money people spend playing the lottery -- and different scratch-and-win games -- three or four times per week. Your odds of winning do not increase all that much from playing just one $2 ticket per week. Meanwhile, you could save up to $40 per month.

10) Set aside just a dollar a day: This may sound silly, but it sure works. Find or make a piggy bank and, without thinking twice, drop a buck in the bank every day on your way out the door. It may not be much, but you will feel $30 richer at the end of the month!

Maybe this is a personal pet peeve, but I really can't stand gift cards.

Sure, if you're unsure of what to give someone, a gift card lets them make that decision for you. Many people think of it as a great time-saver and problem-solver. And the recipient always gets what they really want. So, it's a win-win, right?

But, there's a problem that should keep you far away from gift cards. You see, there's a lot of uncertainty with some retail stores, especially those that sell electronics. If you've been following the news, or even getting out around town, you've probably seen a few of these retailers closing up shop during what should be their busiest time of year.

And while there may be ways to get your money back, odds are that, if you're stuck with a gift card to these stores, you're stuck with a piece of plastic that's worth nothing.

Now, I don't mean to imply that gift cards are a completely bad idea. They can help businesses bring in extra money from early shoppers. But, if you're considering buying some, then I would suggest you take a good look at the future of the store you're buying it from.

Also, you may want to reconsider a gift card purchase if you're on a strict budget. Gift cards are something you rarely see a discount on (it does happen, but I'd be hard-pressed to show you an example off the top of my head). However, by buying an actual gift, you could be taking advantage of sales and promotions that could save you money right away.

Making informed purchases and focusing on saving while spending is always important, but this year it could be essential. I know that, when I set out to get gifts for friends and family, I may spend a few extra hours out and about, but, in the end, I'll stick to my budget.

Now, more than ever, you, as a business owner, are the closest you've ever been to having constant access to your customers.

It used to be that the only interaction a business would have with its customers would be when they came in to make a purchase, saw your ad in the paper or received a courtesy call. Now, however, with the popularity of "smartphone" devices like the "BlackBerry" and "iPhone," many people are making themselves accessible via e-mail 24 hours a day, seven days a week. This creates unparalleled potential for making sales, if you know how to do it properly.

For the segment of the population that has chosen to avoid the smartphone craze, they're likely still within arm's reach of a computer at any given time, checking e-mails as regularly as they drink a morning coffee, if not much more often.

So, even for those not connected every minute of the day, adding an e-mail marketing element to your business is a cost- effective way to reach potential customers. For instance, if you operate a retail location, one huge deterrent to customers these days is having to get to you. If they have to drive for a half- hour to go shopping at your store when gas is hovering at $4/gallon, you can almost guarantee they'll think twice about it. With e-mail marketing and a web site, you can take orders for your product online, thus limiting your customers' travel time and gas consumption. In addition to saving costs, e-mail marketing allows your customers to save time.

One of the most convenient benefits of communicating with customers via e-mail is that you are saying, "Listen; visit us at your convenience. It doesn't matter if you want to shop at 11 p.m. or 5 a.m., we're here to serve you." After all, it's tough for most people to get out and run their errands during the week. With most people these days putting in hours that extend far beyond a traditional 9-5 workweek, it's important that they have access to the things they need on a schedule that works for them.

Not only does e-mail open up your doors for business all the time, but it also provides you with new, creative ways to market and build relationships with customers. It's important not to overlook the importance of relationships with your customers in exchange for dollars and cents. After all, if your business is made up of "one-and-dones" and not of retained customers, you won't be making sales very long. Relationships are all about longevity, and so is business. E-mail opens up the opportunity for a recurring relationship that adds a human element to the normal business/customer relationship.

** Find Your (Profitable) Inner Child for Your Info Marketing
Business
By James Burt, Online Marketing Expert

I think it's time for info marketers to find the inner kid within.

I am being serious here. Stay with me; there are actual financial benefits to unleashing your inner child.

As you get older, the old cliche of focusing on the adult things in life and letting them take over are true. Mortgages, car payments, family responsibilities...they pile on fast and, before you know it, you forget the joys of being a carefree kid.

Now, don't let me get you down; this is where it gets better.

Recently, a friend who is a stay-at-home mom started up a business from her house, specializing in beauty products and cosmetics. It was doing so-so, but not great, and so I suggested during a late-night Internet chat that she try adding info marketing to her repertoire.

"I can't. What could I possibly have any info on?" was her response.

I told that her that her info source was probably right in front of her. And her kids were ALWAYS in front of her. She loved being a mom and was down with everything to do about children. She paused in her message writing, said thanks, and logged off. A week later she wrote again, saying she had compiled a list of everything she knew about raising her own kids, from toys, to health care, to the birth process. She said she was really tempted to get started on an info marketing business.

It can be that simple.

I will tell you what I told my friend: "Go for it!"

If creating "kid's information" sounds like something you would want to do, I would suggest starting by picking an area of specialty. I was happy to hear that my friend who I mentioned above had made a list of all the things she knew about kids.

After some deliberation, she wound up investigating all the information she could about new mothers and what health issues they face. Do the same. Find out what child or youth information area of expertise you are interested in and start outlining what information you want to create.

From there, it's a good idea to find out what media you want to present your info on. I would suggest starting the way my friend started: simple and online. She built a blog for free and, after some people started to check it out, she started to get e- mails wanting more info. You can start this by putting together a regular newsletter that can be issued to people you know via e-mail, who in turn can pass it on to others. You'd be surprised how fast the word can spread on the 'Net by just starting small. From there, you can build yourself a web site or issue a mail newsletter.

I might digress for a minute to remind you to always keep informed on whatever child-related information you are working on. If you are dealing in children's health, you can check out your local pediatrician and likely get information for free. If you are dealing with children's toys or other products, find out their brand name and check them out online. You often can get on a mailing list to get new product info as well as free samples that clients love to get new info on.

Once you get things going, explore your neighborhood a bit. If you belong to any youth organizations or community centers like the YMCA, do not be afraid to leave a business card on their bulletin board and make contacts with others to offer your info services. Again, if you start on a small level, you can build up a client base right near your home and you can do it fairly quickly as well.

There are so many ways to become an info marketing success by getting in touch with your youthful side. Kids are always going to be a part of society and, whether you are a parent or not, you can make your business have great success by getting the information goods on a kid's life.