Archive for November, 2006

Do you or do you know someone that accepts retainers from clients?

To accept client retainers in QuickBooks:

1. Create a liability account called “Client Deposits”.
2. Create a new item, type is “service”. Name it “Client Deposit” and then pick the liability account you created called “Client Deposits” in the account field.
3. Then, when you accept a deposit, open a Sales Receipt, pick the client from which you received the deposit. In the item field enter the item called “Client Deposit”, then enter the amount received in the amount field. Complete any other fields you feel necessary. Click save and close.
4. To apply the client deposit to an invoice, create the invoice as you want it, then on the next line down, choose the item “Client Deposit” and enter the retainer amount to apply to the invoice as a negative in the amount field. This will take the retainer out of the liability account and apply it to the invoice.

Next month I’ll show you how to create a client retainer report for each individual client.

To learn more about how you can use QuickBooks in your business, contact me at (619) 463-6851 x2 or teri@terimilligan.com.

‘Cause’ marketing that links your company or brand to a non-profit group or charity enables you to promote your business while you give something back to your community. Perhaps the most interesting aspect of this kind of marketing is that it’s been shown to make customers feel better about deciding to purchase and that translates into an increase in repurchase intentions.

Consumers transfer their emotional bonds

Many people have emotional bonds with a non-profit group. They may even be regular financial contributors or do volunteer work for a non-profit organization. When these people see a business that’s supporting this organization they’ll often be predisposed to purchasing from it. “Look at what you sell and understand the targets you’re trying to reach. Then align yourself with causes that will bring out the emotions of that audience, from a grassroots, a community and a media standpoint,” advises Rodger Roeser, of Justice & Young Public Relations in Cincinnati.

Employees feel better about their employer

Surveys consistently show that whether candidates are choosing an employer or employees are deciding whether to stay with their present company, the degree to which a business demonstrates a social conscience is perceived as increasingly important. In fact, a majority of employees of companies in many industries have said they’d work for less money if they felt their employer was socially responsible.

It’s good for PR and community relations

Naturally, there are a lot of positives about supporting a cause that will benefit the image your business has in the community. You’ll be seen as a good corporate citizen and as an organization that contributes to the welfare of everyone in the community.

Seek alignment with your business and your customers

There are thousands of causes and some will no doubt relate to your business activities. Find a cause that has a link with your company, no matter how tenuous, so that people will understand how your business fits into the cause overall. The cause needs to also be related to the interests of your customers. It should align with their feelings and beliefs, and not be in conflict with other organizations they might want to support.

Tell the world what you’re doing

Although it might seem a bit ‘commercial’, your business will only benefit if it tells the world at large about your involvement with the cause. You need to spell out what it is you’re doing and why you’re doing it. It will also help if your business becomes a conduit for your customers to help the cause by making donations through your website or at your business premises.

• Your cause marketing activities should be part of both your external marketing and your internal communications. It should be featured in your promotions, your packaging and your website, as well as referred to in your employee newsletters.
• Give your employees and your customers a chance to participate in the cause by hosting a function or sponsoring an event where the proceeds go to the cause.
• Ask the cause you’re supporting to promote your association with them. They have every reason to do this; the non-profit world depends on donations and they like to tell prospective donors that they’ll be in good company when they part with their funds.

In today’s competitive world consumers want to know what a business stands for. Cause marketing will tell them about your business values and reassure them that part of their purchase money is going to a good cause.

Information in this article is sourced from RAN ONE, Inc.