Building Value in Your Business the Easy Way

Why are you running a business? What is your long term aim? You may think they are completely random questions – but this could be the most important factor of your business and will eventually give your company value.

Some businesses have made a plan to build it up and sell it after a certain period of time which is a perfectly good reason to work hard on a new company. So obviously it is paramount to plan ahead and think about what a potential buyer would look for.

Obviously a good diary of bookings, a paid for fleet of vehicles and a good name in the local area would be on the list to look for, but how do they know that bookings will continue to flood in when they buy the company out?

Building a database of your customer base is the most important area for you to work on and using it to your benefit is even more important. You would be amazed on how quickly you can build-up a customer database of all the people who contact you and hire your vehicles.

If you ask all the correct questions and use suitable software you would be able to use this information to produce email newsletters and send them information on packages and special offers.

When compiling a database, it is essential you keep in mind the Data Protection Acts as you have a responsibility to use this data correctly as you could get your company into deep trouble if you abuse this. It is common sense really – only use the data you collect for promoting what the customer enquired about and do not, I repeat, do not sell or pass on the information to another individual or business.

Up-to-date data is worth big money these days and it is tempting to sell it on if you have built-up a good one. However, unless the individual has actually agreed for you to pass on their information to another party then this would be highly illegal.

So, if you have successfully created a customer database, it is time to start using it to its full extent and getting your message to them in an effective way. Firstly, make sure you collect the right information, the fields you need to create in a Excel spreadsheet are: Title, full name, address, postcode, telephone number, mobile number, email address, date of birth, and a field where you can put details of why they contacted you (birthday, anniversary etc).

Email newsletters are a very effective way to promote your business to potential and existing customers, and there are a few ways of sending these. Depending again on how computer literate you are, websites such as icontact (Get an instant free trial account) are companies who manage your newsletters, they cost a small amount, but they are more effective than trying to manage your own mailings.

The benefits of using such systems is that they manage bounce backs (email addresses no longer active), and you will have a number of templates to use to make your newsletters look professional and attractive. For a small monthly cost, you could find this the best option if you are capable of using ‘WYSIWYG’ type software. If you have compiled your Excel spreadsheet correctly, then you will be able to easily upload your file.

Other advantages are that these websites will help you with the Data Protection Act and will include an option for the recipient to unsubscribe from your newsletter which is very important. The systems such as icontact allow your newsletter to be found on the search engines which is a great added bonus.

Your newsletter should include your logo at the top, a short welcome message and two or three special offers. There must be a reason why you are contacting them, do not make it a general email about limo hire as next month it will be deleted. Make sure it is topical and interesting.

A good tip is to look at your typical yearly diary and find some events that your customers have previously attended such as famous race days or rock concerts etc… Find out who is playing at your local theatres and concert halls in the coming twelve months and promote them and put a price on travelling by limousine to that event.

In September/ October time, start promoting Christmas parties and find a local hotel which is hosting a evening where companies can buy a table for the evening. Give you friends at the nightclub a call and find out what special nights they have planned, also talk to your local restaurants and ask them what special deals they are promoting for the Christmas period.

All these can be promoted in your newsletter which gives the reader something valuable and they would have no reason to unsubscribe. If they believe you are on the ball and have good local knowledge and if you keep your packages varied, at least one of them will grab their attention.

Again, if you have a larger marketing budget than most companies, you can use the database to send company branded calendars, mouse mats or any printed material you may have produced. It is always worth spending the time to put a return address on the envelope if you are using the mail, as items which cannot be delivered or those who have moved away will be returned to you, therefore keeping your database up-to-date, and you will not be wasting money by mailing to them in the future.

So, in years to come, when you have made a healthy living from your limousine company and you are ready to sell, you could quite easily have a fresh database of hundreds of customers. You basically cannot put a value on this and all of that hard work will pay off for sure.