Monday, December 30, 2013
Friday, December 27, 2013
5 Ways to Make More Money Simply by Using Your Time Well
Tuesday, December 24, 2013
Promises to Keep
Monday, December 23, 2013
An Important Business Lesson from an 8-Year-Old Girl
There's something undeniably different about this time of year -- an almost palatable sense of wonder, excitement, joy, and possibility not always seen in our everyday routine.
Amid the hustle and bustle of shopping, planning, and reconnecting with family and friends, we often find ourselves thinking back to seasons past -- and forward to the future with renewed energy and hope. For a few weeks each December, we're willing to suspend disbelief and imagine the possibility of what we cannot see. New York Sun writer Francis Church shared his thoughts on this very subject more than a century ago. "The most real things in the world are those that neither children nor men can see," Church wrote. "Nobody can conceive or imagine all the wonders there are unseen and unseeable in the world." Church addressed his commentary to Virginia O'Hanlon, an eight-year-old girl who had posed a very simple question: Is there a Santa Claus? While intended to quell the fears of a questioning child, Church's words could just as easily apply to each of us in business today. Like young Virginia, we, too, find ourselves in doubt sometimes -- unsure whether we should trust the instincts that have taken us this far. In Virginia's case, those doubts were fueled by "little friends" who told her Santa Claus was not real. For us, those "friends" often manifest themselves internally as a quiet, yet nagging voice that assures us we'll find safety in convention and by taking the road more traveled. And so, like Virginia, we need an occasional reminder that seeking the unseeable and trusting the unknowable can lead to places many would consider unattainable. |
Wednesday, December 18, 2013
Times They are a Changin'
Friday, December 13, 2013
Why Authenticity is the Key to Growing Your Business
Wednesday, December 11, 2013
Community Care Marketing
Monday, December 9, 2013
We Guarantee It!
Friday, December 6, 2013
Does it Make Economic Sense to Buy Locally in This Internet Age?
Wednesday, December 4, 2013
Does Giving Away Products Bring Business?
The idea of giving away free trials and samples of products or services has been around for many years. From high-tech software companies to sidewalk food vendors, it's a strategy that has continued to prove its value through the years. Even after taking into account the associated costs, the ROI has proven attractive for many businesses in both the real world and online.
The Psychology of Free Objections are a natural part of the buying cycle. No matter how great a product or service might be, prospects are likely to have some reservations about buying it. Free acts as an emotional hot button which reduces or eliminates many of these barriers. Does the Freemium Model Make Sense For Your Business? According to Wikipedia, the term "freemium" describes "a business model by which a proprietary product or service is provided free of charge, but money (premium) is charged for advanced features, functionality, or virtual goods." Does this model make sense for your business? Arguments can be made for both sides. The naysayers will argue that giving anything away for free erodes company profits and attracts the types of customers who are always looking for free items or special discounts. Loyalty is rare with these types of customers since they only buy when they can get something free or at an extreme discount. Daily deal horror stories are a prime example of the negative effects of discounted offers. We've all read reports of business owners who have seen poor results from daily deal coupon sites that encouraged or demanded that they offer extreme discounts in order to take part in a campaign. In rare cases, some have even gone bankrupt as a result of a daily deal discount gone bad. The pro side argues that freemiums encourage prospects to give businesses a trial run they might otherwise never have given them. Freemiums reduce or eliminate the barrier to entry of doing business with your company. If you deliver what you promise, a certain percentage of freemium users will convert to new paying customers who will return again and again. Companies like Dropbox, Skype, Evernote, Mailchimp, and LinkedIn have built their entire business around the strength of this strategy by giving away the basic version of their product for free to build a customer base. App services for iPhone and Android phones have also used this strategy effectively by offering a free basic version to lure customers and then offering a paid version with more advanced features. For many small businesses, giving away products or services doesn't make economic sense unless there's a strong strategic plan in place first. Free or even heavily discounted products require funding and a strong balance sheet to cover the costs. One strategy to consider is to have a sales funnel in place before implementation. Customers gained through free or heavy discounted offers are then encouraged to step into higher-priced services and products. This can be done through marketing communications that show the features and benefits of buying these premium services. There are many unknowns in answering whether or not freemiums will work for your business. What's clear is that the path to success or failure lies with having a sound strategy in place before implementation. Another key component is being intimately aware of the financials, including profit margins, customer acquisition costs, and the lifetime value of a customer. Implementing and testing a freemium on a small scale before rolling it out to a wider audience can give real answers to the viability of this model in your business. |
Monday, December 2, 2013
Spice up your Coupons!
How to Produce Stellar Ad Copy in the Post-PC Era
Friday, November 29, 2013
Your Competition Wants Your Customers
Competition is a part of business life. Some would argue that competition forces businesses to strive to get better at what they do for the fear of losing customers to rivals. Losing a few customers periodically is inevitable. However, losing too many (especially your best customers) must be avoided at all costs.
For most businesses, the top 20% of their customers account for 80% (or more) of their profits. While much thought and strategy typically go into bringing in new customers, not enough is spent on retaining existing customers. That's where the real gold lies. It may be a little uncomfortable to think that some of your best customers might be looking at making a change, but it's something you must consider if you want to avoid having it become a reality. Everyone talks about taking care of their customers, but in many instances that's a phrase not truly backed up with action. To build a fence around your customers and keep them far away from the prying arms of your competitors, you mus truly care, protect, and guide them. Gather customer feedback on an ongoing basis. Most businesses put a lot of hard work into getting a new customer. But after they become a customer, little effort is put into nurturing that relationship. A customer should never be taken for granted. It's easy to get wrapped up in the day-to-day operation of your business and lose touch with what's happening outside your doors in the marketplace. Phone calls and emails to customers can be a great way to communicate and stay connected. But to do it on a large scale can be unrealistic. Informative company newsletters and surveys can help keep your customers up-to-date and give them a way to express their needs and concerns. These efforts can provide an early warning system to catch a customer jumping ship before it happens. Tell them what you do. Your competitors will do anything to steal your customers, including promising the moon. You know that some of these are false claims or teasers to get their foot in the door. Some of your customers may not know that. Your job is not only to provide a great product and service but also to continually remind customers about the value you provide that your competitors can't match. If you don't tell them, no one else will either. Informing your customers through educational marketing content is a powerful way to keep them engaged while differentiating your company as one that truly cares about theirsuccess (not just your own). Where are the weaknesses? To help plug the holes in your business, start thinking about things from your competitors' point of view. After all, they're always looking for any weaknesses they can exploit, so you should, too. That way, you can shore up your weak spots before they get out of hand and, in the process, strengthen your position in the marketplace. To discover your weaknesses, talk with your customers. Ask them about the areas you could improve. Stay up-to-date with industry trends that could create a possible gap in your defenses, too. You can't buy every bit of technology as soon as it hits the market, but you can stay informed so you can address concerns with your customers when they arise. Sometimes the best defense is a good offense. Be proactive in your customer communication. "There is only one boss: the customer. And he can fire everybody in the company, from the chairman on down, simply by spending his money somewhere else." ~ Sam Walton, Wal-Mart Customer retention starts with providing great service and value. Getting to the top is hard work, but staying there requires just as much effort. Being aware of the competition while shoring up the weak areas in your business can go a long way in helping keep your customers coming back. Monopolies and the lack of competition aren't in anyone's best interest. Keeping your best customers satisfied is. Use competition as a motivating factor to continually improve your services. Communicating with and showing appreciation for your customers will give you an invisible force field to keep the competition out of your backyard. |
Wednesday, November 27, 2013
Why You Need Rituals in Your Business
Friday, November 22, 2013
Increase Sales Through Holiday Promotions
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Wednesday, November 20, 2013
Be the Expert Your Customers Need
Monday, November 18, 2013
The One Important Lesson From Harry Potter
J.K. Rowling is the British author of the popular Harry Potter fantasy book series. A net worth of more than a billion dollars makes her one of the richest women in Great Britain (richer than the Queen!).
In a recent interview, Rowling revealed an interesting fact about the series. She was rejected 12 times by publishers before finally getting her book accepted. Yet, even though her first book had not been accepted, she still did something that many never do: She knew exactly what the ending of the series would be. Rowling wrote the final chapter of the final book in her series, so she knew how the series and the story would end. That helped lead her to logically fill in all the plot lines and action sequences to get to the conclusion. "Start with the end in mind." ~ Stephen R. Covey In our business and personal lives, we rarely know what the end game should be or what it would look like, as clearly as J.K. Rowling did with her Harry Potter story. As a result, it's not surprising that businesses struggle and projects go sideways. The lack of goals or the desire to get things done are typically not to blame. Instead, the culprit and missing ingredient is most likely a clear vision of what the ending will be. In a business ownership example, that might mean knowing the exit plan of selling the business. In managing a project, it might mean knowing exactly what the finished product will look like. In a weight loss example, it might mean knowing what you want the new you to look and feel like. Human Nature Human nature is the common quality of all human beings. People behave according to certain specific principles of human nature. Whether leading a company, a group, or even ourselves, we need to understand what motivates and moves us to the end goal. Every January, every week, and every day, goals are set by wonderful people with the best of intentions. Yet only a dismal percentage of these lofty (or even mundane) goals are ever accomplished. This often leads to abandonment of dreams and higher aspirations. The desire to do what it takes is not something that's easily manufactured. Great leaders know how to lead movements, nations, and countries by tapping into human psychology in ways that others don't. These leaders know that real action, progress, and momentum only come when a highly desired end result is clearly laid out. On May 25, 1961, President John F. Kennedy presented a historic challenge to the people of the United States. He set a goal of putting a man on the moon and returning him safely to Earth before the decade was over. His dramatic speech galvanized a whole nation and resulted in Neil Armstrong touching the lunar surface on July 20, 1969. Steve Jobs had a clear vision for Apple and each of the products the company would roll out to revolutionize entrenched and established industries. There are numerous examples of other great leaders of companies, nations, and movements who made a big impact on society. The one common theme: they knew how to clearly articulate the vision and end result in ways that resonated. "Life can only be understood backwards; but it must be lived forwards." ~ Soren Kierkegaard J.K. Rowling sat in the coffee shops of England as a struggling single mother writing her Harry Potter stories. There were many things she could not have known about what the future would hold for her. But there was one thing she did know that drove her forward despite all the negativity and obstacles: how her story would end. Not everyone can write Harry Potter books, but we all can get much clearer about how our own stories should end. If we can do that, maybe there will be rewards much greater than the billion dollars J.K. Rowling has earned. |
Thursday, November 14, 2013
Is Guerrilla Marketing Dead?
You may think guerrilla marketing is dead, but really it's evolved with the times. If you haven't done the same, then you need to take a leap forward to get the most impact from your marketing dollars.
What is Guerrilla Marketing? Jay Conrad Levinson coined the term guerrilla marketing in 1984 with the release of his book, Guerrilla Advertising. In military terms, guerrilla refers to an unconventional form of warfare used by armed civilians, often against a force with superior numbers and weaponry. It relies on surprise, sabotage, and the ability to hide among a crowd. Guerrilla marketing is a take on advertising that uses similar tactics to gain attention. The primary advantage of guerrilla marketing is its ability to increase a marketer's impact using less costly resources than traditional advertising. It relies on high energy, imagination, and ingenuity. The idea is to take your customers by surprise, make a lasting impression, and create the kind of buzz that gets people talking. The following two examples will help you wrap your mind around this strategy: 1) A new, locally based beverage company posted creative flyers on light poles and other public structures all around town. These flyers looked more like graffiti than advertising. Nobody even knew what it was all about, but the images stayed in their minds. After approximately three months of bombarding the public with these images, a billboard was displayed which used the same images, but also identified the company and the product. A brand was created before anyone knew what the brand was for. This is guerrilla marketing. 2) Compare this to a strategy used by a national research organization. They created billboards and took out full-page magazine ads that compared a neurological disorder with child abduction. These fundraising advertisements included the organization's name and contact information. The shock factor backfired and complainants formed organized protests. This isn't guerrilla marketing. It's simply disrespectful and in poor taste. There is a difference. How Has Guerrilla Marketing Evolved? If you visit Jay's site, you'll see that guerrilla marketing is alive and well and evolving with the times. Guerrilla marketing is online -- and you should be, too. Guerrilla marketing values permission-based marketing strategies -- and you should, too. Guerrilla marketing uses popular culture to make an impression -- and you should, too. Guerrilla marketing emphasizes ethical communications that are also creative and unique. And that's exactly what you need! When guerrilla marketing first became a hit, consumers were inundated with "professional" advertisements on television, radio, magazines, and newspapers. Now, it seems anywhere and everywhere we turn we encounter ads -- they're even in public restrooms! If we were numb before, we're deadened now. Advertising and "traditional" marketing just doesn't have the impact it should for the dollars companies spend. And it's no wonder when there's so much advertising in so many places that it seems we never get a break from it. Guerrilla marketing breaks through all that clutter by being different. Not just different from your competitors, but different from its own past. How Can You Use Guerrilla Marketing? You can use guerrilla marketing to get the scattered attention of your target customers by becoming a bit more creative in the ways you reach out to them. Surprise them. Capture their interest. Offer something of real value. Remember guerrilla warfare. You can't rush success. Guerrillas knew that. Civilians battling a superior force with superior arms would spend years, decades, even generations fighting for what they believed in with whatever means they had. Take a lesson from them. First, know that your business is worth fighting for. Second, you won't win the success you want instantly. Third, you need to build your credibility with your target audience (i.e. the civilians you're saving), not with your competitors (i.e. the superior force). With these three things in mind, break out of the marketing box you've fallen into and prioritize communicating with your customers. Surprise them with how helpful, genuine, and trustworthy you can be. Sabotage the competition by offering a better value with better intentions. Don't be afraid to blend in and mingle with your customers. After all, they are the only ones who really matter. Be one of them. Help them. Build a future with them. This isn't a battle for sovereignty or freedom. It's a battle for the hearts and minds of your customers. The secret isn't a parlor trick or a timely fad. You can't take their trust. They have to give it to you. You have to earn your customers' trust. If you can do that, then you can evolve into the future with them right by your side. |
Tuesday, November 12, 2013
Direct Mail Is Alive and Well, Thank You
Marketing fads come and go. Marketers today have a bewildering array of choices never seen before. Consequently, busy business owners don't always know who to listen to in order to find what is working most effectively right now. Everyone can claim their systems and tools are the secret to a never-ending stream of prospects and customers.
Is Direct Mail Worth Exploring For Your Business? Have you noticed that many of the Internet companies (like Google, among others) have been increasingly turning to direct mail to advertise their services? The reason is that old school direct mail worked long before the Internet and has been working for smart marketing in businesses all along. It just happened not to be the flavor of the day, thereby not getting much attention. Now that the furor and publicity surrounding the "free" aspect of social media marketing has settled into the reality that free doesn't necessarily equal real customers, smart marketers are looking for real campaigns that result in real customers. Living Together in Harmony Leveraging one proven marketing channel is great, but taking advantage of two or more is better. As effective as one channel may be, you limit the potential impact when using a single platform. With an integrated marketing strategy, you position yourself to maximize the real potential of your campaign. The truth is that direct mail can still deliver real results when done correctly. In fact, direct mail works even better when coupled with email marketing and Internet marketing. When coupled with other channels, direct mail has the capacity to be even more targeted, personalized, and effective than when any of these channels are implemented alone. To make this work and deliver results, it's very important that the messaging and branding be consistent across all the channels you use. The logo, tag line, messaging, design, and colors used in one campaign should be reinforced across all media to generate stronger results and a more powerful impression. Consistency allows each campaign to feed off the other and deliver a bigger bang for the investment. This is how big brands are able to leverage the power of multimedia messaging. Today, with the availability of affordable, short-run digital printing, you don't need a large budget. It's realistic and available for businesses of all sizes. An example of a campaign that works extremely well is a new customer campaign. Nothing shows appreciation like a nicely designed, professional-looking direct mail piece delivered to your new customer soon after they become a client. People know that an email costs nothing to send but that a direct mail piece has a real cost. Now you can follow that up with some informative emails to educate your new customer about how you can help them solve their problems. In the emails and direct mail pieces, ask your new customer to also connect with your brand on social media. Now you can further develop a bond with your new customer by sharing your values and core messages across all media. Marketing success is about momentum. An integrated, multidimensional campaign, implemented consistently throughout the year, keeps the marketing ball rolling forward. This allows your business to be fresh on prospects' minds when they're ready to buy. The more consistent your brand, marketing message, and integrated approach, the better your results will be. Your customers consume information in different ways. You can't guess or assume one is better than another. Showing up in the physical mailbox, in their email inbox, and on the web assures that your brand is leaving no stone unturned. Having an integrated marketing strategy assures your business will be seen and heard. If just showing up is half the battle, then implementing this multidimensional approach is your call to action to make yourself ready for new customers on the business battlefield. |
Wednesday, November 6, 2013
Be Your Business
Every business would like to grow sales and profits. The future of the business and the livelihood of its employees depend on it. So, as business owners, we go to networking events, make phone calls, send out mailers, and even spend time on social media. Yet growing the business is never as easy or simple as that.
Making prospects aware of your products and services is important. If you don't do it, no one else will. But that's only one part of the equation. There's something far more important that needs to be done first. When a doctor goes into surgery, steps must be taken beforehand to prepare the patient. No patient would want the doctor to arrive on the day of surgery and begin poking holes and cutting skin at random to find the issue causing the problem. Yet many businesses go about prospecting and looking for new customers in the haphazard way of the unprepared surgeon. To win more business, first you must isolate the pain points. What's the problem your business can solve for your prospect? The more descriptive and specific you can describe the pain, the better. Yes, it takes a little effort to find specific problems for each type of potential customer, but you should notice trends and common traits you can use to attract a wider group of prospects. After you've identified the major pain points, you can present the solution your business provides to solve the problem. Now it's time to communicate this message. Having a focused message before you market helps attract and retain the types of customers you want in the first place. The tighter the message, the better return you'll get on your marketing spend. Not many prospects care how many years you've been in business, how pretty the customer lobby is, or how incredibly innovative and cool your brochure or website look. Your prospects care about themselves. They worry about their problems. Outline what those issues are, and then tell them how you will make their problems disappear. Oftentimes, your prospect may not even be aware of the problem. It's your job to show them. Maybe you can save them time or money solving a problem they didn't even know about. This is how you can make your print communication and all your other marketing messages more powerful. Identify the pain and show them how you can make their lives better by engaging your business. It's your knowledge and awareness of specific problems that will earn the trust of your prospect. Customers are attracted to businesses that best educate, communicate, and present expertise in the problems they want to solve. The best way you can do that is to not just represent your business but BE your business. Being your business essentially means focusing on your brand and what it communicates to your marketplace. Your brand is more about your message than your logo. It's more about content than design. Once you have your message finely tuned to what your audience is seeking from your business, only then will prospecting and growing your business feel like swimming with the current rather than against it. |
Wednesday, October 30, 2013
Marketing Is Just the First Step
The secret to increasing sales is simply to increase the marketing of your products and services. Or is it? There's one other critical part of the puzzle that needs to be addressed in order to grow a business. Without this, all the marketing in the world won't help.Marketing done correctly with channels like direct mail (using postcards as an example) can equal more leads and prospects. However, all the leads in the world won't necessarily equate to hefty sales and profit increases without the ability to sell. Therefore, the ability to sell yourself, your services, and your products becomes the second important piece of the puzzle. Some have attached a stigma to selling with the image of a pushy used car salesman, but there's no need for slime or hype if you have a great product and service to sell. There's a five-step business life-cycle and ecosystem you need to adhere to in order to have a truly successful, growing company. Step 1. Marketing to bring in leads and prospects. Step 2. Selling by making the case why your solution is the best option for the prospect. Step 3. Systems and processes to consistently deliver an excellent product and service. Step 4. Delivering great results to encourage referrals. Step 5. Delivering great customer experience with your business to build client retention and repeat business. Failure at any step will result in stagnation or decline in your business. Marketing must be done in order to bring in a consistent flow of qualified leads and prospects. However, step two (making the sale) can't be overlooked. Being enthusiastic and showing passion for what you do and what you provide can go a long way in covering up any shortcomings. A sale is made when a prospect gets to know you, likes you, and trusts you. There are four factors that can help you go beyond enthusiasm and passion in making your case toward a successful selling situation. Factor 1: You need to establish rapport. Establishing rapport requires genuinely caring about your prospect. The more you learn about the prospect, the greater the likelihood you'll be able to find a common area to create a bond. Factor 2: Find out what your prospect really wants from what you provide. This requires knowing what questions to ask in order to learn their reason for wanting your service. Top salespeople know that sometimes what a prospect wants isn't what they really need. Don't just tell them, but show them how your solution delivers what they really want and need. Factor 3: Prove to them the value you provide. To do this, you must know what differentiates you and your company from the competition. Every prospect wants the least expensive solution, when all things are equal. Differentiation by showing massive value tilts the playing field in your favor because all things will not be equal when you're the one showing the most value. Prospects find a way to pay when they see the value clearly. Factor 4: Ask for the sale. Most salespeople and even business owners either forget to ask for the sale or are simply too frightened to do so. If you deliver results and believe in what you provide, it's your obligation to ask for the sale. Don't assume the prospect will buy if you don't ask for the sale. Marketing and sales go hand in hand. One without the other makes growing a business difficult if not impossible. These two are like the oxygen and air that your business needs to thrive. Remember this business ecosystem and work on continually improving on the four selling factors in order to always have a growing, healthy business. |
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