The moment I decided to specialize as a direct response copywriter (which means you get a response directly from the marketing materials, there's no middle person involved, like a sales rep) I knew there would be one thing that would determine if I would be eating steak or eating mac and cheese.
And what's the one thing? The results I got for my clients.
Therefore, improving results became a pretty big focus of mine. You might even call it a passion. (Some people who aren't nearly as nice have called it in an obsession.)
Regardless, here are 5 tips that can help you improve the conversions of your marketing materials.
1. Know who you're talking to. If I hear anyone say "women are my potential customers" or "anyone with skin is my target market" (yes, that really was a direct quote from someone who sold Mary Kay or Arbonne or something like that) I will send my border collies (all 3 of them) to your house and force you to play fetch with them until your arm falls off. Seriously, the quickest way you can end up with the most dismal results imaginable is to try and talk to everyone. Come up with a specific customer -- the more specific the better -- and make sure your marketing materials speak directly to that customer.
2. Make sure you write benefits, not features. This one is probably the hardest one to "get" but also one of the most critical. People buy benefits, not features, so if you only talk about features you're just asking for people not to buy what you're selling.
So what is the difference between features and benefits? Features are a description of a product -- for instance, if we're talking about a diet pill, a feature would that the product is a pill. A benefit would be the solution the product provides -- in this case, losing weight.
As much as you possibly can, write about why someone should buy your product. No one buys diet pills because they like taking pills, they buy them to lose weight. Think of the solution your product or service provides and write about that.
3. Work on that headline. David Ogilvy, famous ad man and author of Confessions of an Advertising Man, has said that people make the decision to read your marketing materials based your headline.
Your headline should: a. speak to your potential customers, b. contain a benefit, c. be so compelling your target market is compelled to read further. That's a lot to ask for from basically a handful of words. So don't rush the process -- take as much time as you need to create the very best headline for your particular piece.
4. Don't forget the call to action. You've got to tell people what to do next. If you don't tell them what you want them to do, chances are they won't do anything.
Don't assume your potential customers know what you want them to do. They don't. They can't read your mind. Nor do they want to. They're busy people. They don't have the time or the energy to figure things out. Tell them what to do next, or don't be surprised when they don't do anything.
5. Use P.S.'s or captions. Postscripts (P.S.) are the second most read item in a sales piece. What's the third? Captions. (The copy under photos, diagrams or other illustrations.) Now that you know that, think of the ways you can use either or both of those items in your pieces. Maybe you put a special offer in there or you highlight a particularly compelling benefit. Or you tell them again what you want their next step to be. Whatever you do, don't waste that space.
If you even do just one of these tips, you should start seeing better results. Work on all five and you might be amazed at how much your results improve.
Tuesday, June 30, 2009
Saturday, June 20, 2009
5 tips to invest and do business in China
1. Have clear understanding of China
It is essential to understand the culture of the country before investing in it. Understanding China is vital as China is a land of vast diversity. As such it is important for the company to understand the culture and the society’s values before establishing operations in China. Only through understanding the culture and values strong foundations can be built and higher chance of success can thus be achieved.
2. Understand local business practices
Given China’s distinct culture differences from the rest of the world, understanding China’s business culture is extremely crucial. What works in one’s country will not be applicable at all in China. Understanding how the local people think and their business practices can allow one to engage better and faster with them. Original organizational culture and practices may have to change in order to accustom to China’s practices. Thus flexibility and adaptability is the key for any organization to be successful in China.
3. Acquire local knowledge and establish local presence
Establishing a representative office in conjunction with a strong domestic private sector partner that has access to all necessary information and contacts in their field is the widely practiced formula practiced by foreign firms who already enjoyed success in China. Another way will be through setting up joint venture. Most importantly it has to be the selection of the correct partner. Finding the right partner may require more time, patience and experience but it is never a hassle to spend more efforts in choosing the partner because a wrong partner will definitely guarantees failure. Chinese expertise and local talent must also be incorporated into management or consulted during decision-making since local knowledge is essential as a source of information, access to networks and social and cultural learning, especially in China.
4. Need for establishing business relationships
Guanxi (relationship) is an important element in achieving successful business in China. Top management must learn to nurture close relationships with their local counterparts. This not only helps them to understand the Chinese domestic market, but also creates avenues for help in times of trouble or in need of assistance. Building strong relationships with business partners can aid in mitigating strategic and operational risks.
5. Establish close relations with government officials
Because the China government plays an important role in influencing market movement and administering foreign investments, a strong government relationship remains an important factor to do business successfully in China. Fewer hiccups may be met during paperwork applications or achieving local authorization if a strong relationship with government officials is in place.
It is essential to understand the culture of the country before investing in it. Understanding China is vital as China is a land of vast diversity. As such it is important for the company to understand the culture and the society’s values before establishing operations in China. Only through understanding the culture and values strong foundations can be built and higher chance of success can thus be achieved.
2. Understand local business practices
Given China’s distinct culture differences from the rest of the world, understanding China’s business culture is extremely crucial. What works in one’s country will not be applicable at all in China. Understanding how the local people think and their business practices can allow one to engage better and faster with them. Original organizational culture and practices may have to change in order to accustom to China’s practices. Thus flexibility and adaptability is the key for any organization to be successful in China.
3. Acquire local knowledge and establish local presence
Establishing a representative office in conjunction with a strong domestic private sector partner that has access to all necessary information and contacts in their field is the widely practiced formula practiced by foreign firms who already enjoyed success in China. Another way will be through setting up joint venture. Most importantly it has to be the selection of the correct partner. Finding the right partner may require more time, patience and experience but it is never a hassle to spend more efforts in choosing the partner because a wrong partner will definitely guarantees failure. Chinese expertise and local talent must also be incorporated into management or consulted during decision-making since local knowledge is essential as a source of information, access to networks and social and cultural learning, especially in China.
4. Need for establishing business relationships
Guanxi (relationship) is an important element in achieving successful business in China. Top management must learn to nurture close relationships with their local counterparts. This not only helps them to understand the Chinese domestic market, but also creates avenues for help in times of trouble or in need of assistance. Building strong relationships with business partners can aid in mitigating strategic and operational risks.
5. Establish close relations with government officials
Because the China government plays an important role in influencing market movement and administering foreign investments, a strong government relationship remains an important factor to do business successfully in China. Fewer hiccups may be met during paperwork applications or achieving local authorization if a strong relationship with government officials is in place.
Wednesday, June 10, 2009
5 Steps To Profiting From News Feeds
Looking at News Feeds, you might think they’re some of the most complex things to set up. Nothing could be further from the truth. They’re actually super-easy to create once you have the system set up properly.
You can break down the news feed system into a fast, low-cost system that you can do once, or several times over.
First I’ll answer a few of your questions about news feeds. Then I’ll reveal the “secret” steps to setting up and profiting from a news feed.
Common Question #1: What is a news feed?
A news feed is an automatically updating list of the latest news on a particular subject. For instance, the news feed on my Web site is on the subject of small business marketing.
Common Question #2: Why do I need one?
Other than being a really cool thing to have on your Web site, News feeds are also really great traffic boosters. Not only do they make your Web site more attractive to the all-important Web crawlers that view what's on your site, but News feeds also inspire visitors to come back to your site for fresh news.
So the benefits are two-fold:
• new visitors, and
• return visitors.
Please keep in mind there are a few things you need to do to see benefits from news feeds.
1. Choose a subject of interest to your audience. I chose small business marketing news. For you, it could be the latest news on a tough problem gripping your industry. The great part about it is that you don’t have to provide answers, just create a forum where your target market can access information about an issue.
2. Find your news feed. There are several services providing news feeds of various pieces of information. In my experience it’s best to locate news aggregators based only on your industry.
3. Place the feed on your Web site. This is where I initially ran into problems, but a programmer friend passed on a rather affordable solution that I was able to easily place the news feed on your Web site. The great thing about it is, once you set up the feed, you never really have to touch it again.
4. Make your site profitable. Consider placing advertisements on the same page as your news feed. No doubt the regularly updating news will be a hit with your audience and as more people come to the site you’ll be producing passive profits. (Say that five times fast!)
5. Drive traffic to your site. Over the years I’ve found the best way to drive traffic to a site is through article writing and distribution. It’s like an instant shot in the arm for quality traffic.
And that’s the “secret” formula to profiting from news feeds. Really, it’s no secret. It’s all about know which resources to use to make the news feed work for both you and your target audience.
You can break down the news feed system into a fast, low-cost system that you can do once, or several times over.
First I’ll answer a few of your questions about news feeds. Then I’ll reveal the “secret” steps to setting up and profiting from a news feed.
Common Question #1: What is a news feed?
A news feed is an automatically updating list of the latest news on a particular subject. For instance, the news feed on my Web site is on the subject of small business marketing.
Common Question #2: Why do I need one?
Other than being a really cool thing to have on your Web site, News feeds are also really great traffic boosters. Not only do they make your Web site more attractive to the all-important Web crawlers that view what's on your site, but News feeds also inspire visitors to come back to your site for fresh news.
So the benefits are two-fold:
• new visitors, and
• return visitors.
Please keep in mind there are a few things you need to do to see benefits from news feeds.
1. Choose a subject of interest to your audience. I chose small business marketing news. For you, it could be the latest news on a tough problem gripping your industry. The great part about it is that you don’t have to provide answers, just create a forum where your target market can access information about an issue.
2. Find your news feed. There are several services providing news feeds of various pieces of information. In my experience it’s best to locate news aggregators based only on your industry.
3. Place the feed on your Web site. This is where I initially ran into problems, but a programmer friend passed on a rather affordable solution that I was able to easily place the news feed on your Web site. The great thing about it is, once you set up the feed, you never really have to touch it again.
4. Make your site profitable. Consider placing advertisements on the same page as your news feed. No doubt the regularly updating news will be a hit with your audience and as more people come to the site you’ll be producing passive profits. (Say that five times fast!)
5. Drive traffic to your site. Over the years I’ve found the best way to drive traffic to a site is through article writing and distribution. It’s like an instant shot in the arm for quality traffic.
And that’s the “secret” formula to profiting from news feeds. Really, it’s no secret. It’s all about know which resources to use to make the news feed work for both you and your target audience.
Saturday, May 30, 2009
5 Proven Ways to Waste Advertising Money
1. Yo Yo Advertising
My friend Dottie can precisely predict her sales peaks and plummets accurately...and no, she's not into fortune telling. Experience has proven that March, April, and May will bring a lot of money to her account, while September and January will put her in the slumps
Sound familiar? Have you too been caught in the vicious cycle of high and low sales volumes? Why? Most of us tend to advertise heavily while things are slow - in a desperate attempt to get customers through the door, but back off when things are hopping.
If you're looking for an even-keeled market, develop a steady marketing plan. Steady advertising produces steady growth...and steadily climbing profits!
2. Single Shot Advertising
One shot ads, rarely get results. Most customers are just like you, they don't jump on the band wagon the first time it passes by. They often need to see your sales material several times before they actually make the move to walk through the doors.
Follow-ups are necessary for success. We're not just talking about prospective customers now...even your loyal customers need to be cultivated for sales. How many times have you thought about making a purchase, but just never followed through with it? Sure, we all do it. Sometimes it takes a little pressure to get us to part with our hard-earned money. Make it a point to spend time building relationships with both new customers and your faithful following.
3. MonkeySee, Monkey Do Advertising
How many times have you seen the same advertisement ideas written with just a little different twist? If you're surfing the Web you've come across plenty of the aped ads! Yeah, you can predict what the next paragraph will cover, because you've seen it so many other places.
Sure, copy cat ads can be effective for a little while, but the results will quickly die down as others join in the copy mania. If you're looking for REAL and LASTING results, be original. Do what only you can do, forget about what everyone else is doing. Be you. When a competitor does have a good idea, improve on it. Don't follow in his footsteps...step out and lead the way to more effective advertisements.
4. Wild Shot Advertising
Ready, aim...yeah aim before you advertise! Don't be caught up in wild advertising that gets your message in front of a lot of people who have absolutely no interest in your product or service.
Target your market...and get better results for your investment. Finding the target market that has a specific need you can fulfill takes a little time and research, but you'll feel the effects when you hit the bullseye!
Think about this...there are advertising venues that your competition is overlooking. What about postcards? These high impact marketing tools are often overlooked. Yet, they're the perfect low-cost way to generate prospective customer interest. Keep an eye open for overlooked marketing gems, and get one up on your competition!
5. Me, Me Advertising
What is it that consumers are looking for? ...Exactly, something that is going to benefit them. They really aren't interested in the facts about your product...they want to know how it will impact their life or lifestyle.
Take a look at your ad copy, and ask yourself what are you portraying...facts or benefits. Multi Level Marketers have this all figured out. Rather than tell you they have a business to offer, they spend a lot of time promising you freedom to work your own hours, countless vacations, summer homes and a host of other things you've probably already dreamed about at some point. Hey, don't knock it...the MLM industry is a steadily growing element in our economy.
Don't bore your readers with the facts...attract them with exciting elements that will fulfill their needs or desires.
Are you getting the results you've been looking for? Take another look at your marketing strategy...are you making the same mistakes many marketers unknowingly make. Hey, real success may only be one change away!
My friend Dottie can precisely predict her sales peaks and plummets accurately...and no, she's not into fortune telling. Experience has proven that March, April, and May will bring a lot of money to her account, while September and January will put her in the slumps
Sound familiar? Have you too been caught in the vicious cycle of high and low sales volumes? Why? Most of us tend to advertise heavily while things are slow - in a desperate attempt to get customers through the door, but back off when things are hopping.
If you're looking for an even-keeled market, develop a steady marketing plan. Steady advertising produces steady growth...and steadily climbing profits!
2. Single Shot Advertising
One shot ads, rarely get results. Most customers are just like you, they don't jump on the band wagon the first time it passes by. They often need to see your sales material several times before they actually make the move to walk through the doors.
Follow-ups are necessary for success. We're not just talking about prospective customers now...even your loyal customers need to be cultivated for sales. How many times have you thought about making a purchase, but just never followed through with it? Sure, we all do it. Sometimes it takes a little pressure to get us to part with our hard-earned money. Make it a point to spend time building relationships with both new customers and your faithful following.
3. MonkeySee, Monkey Do Advertising
How many times have you seen the same advertisement ideas written with just a little different twist? If you're surfing the Web you've come across plenty of the aped ads! Yeah, you can predict what the next paragraph will cover, because you've seen it so many other places.
Sure, copy cat ads can be effective for a little while, but the results will quickly die down as others join in the copy mania. If you're looking for REAL and LASTING results, be original. Do what only you can do, forget about what everyone else is doing. Be you. When a competitor does have a good idea, improve on it. Don't follow in his footsteps...step out and lead the way to more effective advertisements.
4. Wild Shot Advertising
Ready, aim...yeah aim before you advertise! Don't be caught up in wild advertising that gets your message in front of a lot of people who have absolutely no interest in your product or service.
Target your market...and get better results for your investment. Finding the target market that has a specific need you can fulfill takes a little time and research, but you'll feel the effects when you hit the bullseye!
Think about this...there are advertising venues that your competition is overlooking. What about postcards? These high impact marketing tools are often overlooked. Yet, they're the perfect low-cost way to generate prospective customer interest. Keep an eye open for overlooked marketing gems, and get one up on your competition!
5. Me, Me Advertising
What is it that consumers are looking for? ...Exactly, something that is going to benefit them. They really aren't interested in the facts about your product...they want to know how it will impact their life or lifestyle.
Take a look at your ad copy, and ask yourself what are you portraying...facts or benefits. Multi Level Marketers have this all figured out. Rather than tell you they have a business to offer, they spend a lot of time promising you freedom to work your own hours, countless vacations, summer homes and a host of other things you've probably already dreamed about at some point. Hey, don't knock it...the MLM industry is a steadily growing element in our economy.
Don't bore your readers with the facts...attract them with exciting elements that will fulfill their needs or desires.
Are you getting the results you've been looking for? Take another look at your marketing strategy...are you making the same mistakes many marketers unknowingly make. Hey, real success may only be one change away!
Wednesday, May 20, 2009
5 Marketing Moves for Business Success
Marketing has traditionally been broken down to a formula known as “the 5P’s” – the five factors that make up an organization’s marketing strategy. If these are done consistently, well, and for a long enough period of time, these 5 factors also become part of their brand.
So far, so good. But the problem is that no one can seem to agree on exactly which 5 P’s are important, so the list typically includes: people, product, place, process, price, promotion, paradigm, perspective, persuasion, passion, positioning, packaging, and performance.
Wow. Sounds complicated, huh? I’m going to try and simplify effective marketing into five moves – five concrete actions – that you can implement immediately. Your challenge: try one or more of these NOW.
Move 1: Move Up
Want to try something different? The next time you’re speaking with a prospect, when the question of price comes up, DOUBLE your normal price and see what happens.
Am I crazy?
Maybe, maybe not. The other side of the coin is that maybe YOU’RE crazy for not charging for VALUE, but instead competing on PRICE. Businesses that compete on price lose. Period.
The easiest thing your competition can do is undercut your price. In fact, the first thing they will copy is your price. It takes no imagination, no creativity, no innovation, no market leadership, and no vision to lower the cost of something. And it hurts all parties involved. Lower prices always mean lower profits. Studies have shown that a 1% drop in price leads to an 8% drop in profit.
What happens when you double your usual price?
Several things. Prospects perceive:
* An increase in the value of your product/service
* An increased level of prestige in owning/using your product/service
* An increased level of trust in you – and all your other offerings (the halo effect)
* An increased level of confidence that your product/service really works
A marketing consultant that I respect once gave me a very valuable piece of advice. She said, “Be expensive or... be free.” Being one of the most expensive providers of a service is remarkable – people talk about their $200,000 Italian sports car or $21,000 platinum-plated cell phone. Nobody talks about their $19,000 GM sedan.
I’ve helped companies double their prices, with great success, and I’ve helped independent consultants double [and in one case triple] their fees. In each of those cases, they got more clients, not fewer. Details on how to do this in Move 3. And perhaps this means you’ll lose a few unprofitable clients along the way. If you don’t lose some unprofitable clients, you won’t have room to serve the more profitable ones when they come along. It’s professional suicide to continue focusing on serving a market sector “that can afford” to pay your old (low) prices. Price doesn’t find clients. VALUE finds clients. And those clients that value your work should – and will – pay according to that value.
Free is also a powerful price point. And, of course, free is remarkable. Which is another facet to moving up – you move up when you give VALUE first. For free. Got a great idea for a prospect? Great! SEND IT TO THEM. Even better, got a business lead for them? Hand it over! Did you come across an article, a profile, or a piece of research that directly impacts their business? Clip it and mail it to the top person with a brief note. That prospect’s door is now open.
Move 2: Move In
Moving in means moving closer to the customer. Live in their world, think about their problems, and think about their clients and prospects. What’s the first step? Research. Preparation. Homework. Industry, regional, business, and company news is now at every salesperson’s fingertips on the Internet. If you’re not intelligently researching your prospect’s issues, challenges, and pressures, how can you possibly come in with a credible solution?
Don’t like sitting at the computer all day? An even better idea is to hit the street. Visit businesses, talk to your contacts in the fields you serve, get some firsthand information about what’s going on in their world – what are their challenges, perspectives, obstacles, priorities; what are their dreams, their “only-ifs,” and their biggest aspirations?
Is this a lot of work? You bet. Do the majority of salespeople put in this kind of effort? No way. Which is exactly why YOU should. That brings us to Move 3.
Move 3: Move Ahead
Moving ahead means going above and beyond what most salespeople are doing. It means putting in the work – yes, the real, hard work – that makes the difference between being a peddler and being a partner.
Want to move ahead? Start by avoiding doing things your prospects dislike.
Here are the top 10 things salespeople do that buyers dislike according to a Purchasing magazine survey. See if you (or your sales team) might be guilty of any of the following professional no-no’s:
10.Failure to keep promises
9. Lack of creativity
8. Failure to make and keep appointments
7. Lack of awareness of the customer's operation ("What do you guys do here?")
6. Taking the customer for granted
5. Lack of follow-through
4. Lack of product knowledge
3. Overaggressiveness and failure to listen
2. Lack of interest or purpose ("Just checking in")
... and the Number 1 dislike: Lack of preparation.
You can also move ahead by charging more (remember Move 1?) and DEMONSTRATING the VALUE of your product service with hard numbers.
In his insightful book, How to Become a Rainmaker, author Jeffrey Fox calls this process dollarizing. Dollarizing is one of the most powerful sales techniques because once you show (with real numbers that your prospect will provide you with) the return on investment – how THIS much spent will generate THIS much savings, or profits, or sales, or new clients, or hours, etc. – you basically shift the conversation from selling what you’re selling to SELLING MONEY.
In my seminars, I do an exercise called “The Money Machine” that will help you spell this out in hard dollars, very clearly.
The Money Machine goes one step further because you can use it monetize against:
* competing products/services
* the prospect doing nothing
* the prospect doing it themselves
* other things the prospect is already comfortable spending money on
For a free copy of my Money Machine worksheet, email me: david@unconsulting.com.
Suddenly, your product/service becomes a real “investment”: meaning, you can show people the math behind “this much IN” for “this much OUT.” There’s nothing much easier than selling money at a discount!
Here’s another way to move ahead: stop the ridiculous game of “closing the sale.” Closing is not a technique; closing is not a trick; closing is not about magic phrases and looks and power games. Closing should be a natural extension of your conversation, and the two most effective questions you should ask your prospect as you near the end of your value-based discussion are:
1. Does what we’ve talked about so far make sense?
2. What would you like me to do next?
Answer to Question 1: If you’ve prepared for the meeting, discussed the prospect’s key issues, and monetized the value of your solution, of course it makes sense!
Answer to Question 2: “Let’s go ahead” or “Let’s do the paperwork.” Or if your prospect answers this with “Get Out” or “Drop Dead,” you have a pretty good idea that the sale is not ready to close. Seriously, carefully listening to the answer to this question will allow you to address any hidden concerns, hesitations, or issues – right then and there before the prospect would otherwise blurt out an abrupt “No!” to any other traditional “ask for the sale” verbiage that so many sales trainers recommend. Remember, you’re not there to sell – you’re there to HELP THE PROSPECT BUY. If you need to tattoo that on your forehead, be my guest.
Move 4: Move Aside
Here’s another thing that most sales and marketing people have a hard time with: you can’t be all things to all people. Move Aside is about finding your niche, and claiming your expertise in a narrow area of specialty. In plain English, this means you want to become the “Go-To Guy” for your specific product or service – the exact opposite of a “jack-of-all-trades and master of none.”
The people you speak with will have a very different reaction to these two mental images of your product/service:
* “I think we can make this fit.”
* “This is exactly what we’ve been looking for.”
Let me give you an example. There’s a real company that lists among its services “Carpet removal, house cleaning, odd jobs, catering.” Now, I don’t know about you, but when I want a caterer, I’m looking for someone who does catering 24/7. I don’t want to have to worry about “Did they wash their hands after the carpet removal job and before serving my guests?” In fact, if I’m looking for a caterer for a wedding, I might even be drawn to “Wedding Bells Catering” much more so than “Sam’s Catering” or “Good Eats Catering.”
Here’s another example. There are lots of graphic design companies that do all sorts of work – websites, logo design, brochures, collateral material, wine labels, book packaging, etc. You name it, they do it. And business is generally OK. (But let’s face it, if they were going like gangbusters, they probably wouldn’t have sought out my help!) Some of them had a hard time differentiating themselves from the competition and others found it challenging to develop a strong client base and referral network. We’ve had some good success developing their current business, but when we delve into the possibilities of “Moving Aside” and carving out a real niche, or developing one thing that is their flagship specialty, most of my clients get cold feet.
One company (not my client – too bad for me!) that has done this with fabulous results is MaxEffect. They made a tough call. They moved aside. They could obviously do a wide variety of things with their graphic design and advertising skills, but they do ONE THING: they work exclusively on yellow pages ads. That’s it. If you want a killer yellow pages ad with bold graphics, custom or stock photography, clean layout, and a strong, compelling message, these are your go-to people. They’ve designed hundreds and hundreds of yellow pages ads and they’ve built a fanatical client base, and they get a steady stream of referrals – not to mention the steady and growing flow of client work.
Check it out for yourself: http://www.max-effect.com
Move 5: Move Alone
Right now, you are lost in a sea of gray. Me-too rules the day. Everywhere you look, there is more and more and MORE of the SAME OLD THING sold by the SAME OLD PEOPLE in the SAME OLD WAY. Boring. And deadly.
The problem is that people don’t buy gray. If you and your company and your offerings blend into the background, you might as well close up shop right now. Let me put it another way: all companies go bankrupt. It’s just a matter of time. Want proof? Out of the 100 largest companies of 50 years ago, 17 survive today. And none of those 17 are the market leaders they used to be.
Why? Shift happens. If you’re not separating yourself from the crowd, you’re blending in – and nobody will even notice you, much less seek you out and tell their friends about you.
Here’s an example of a company that really hasn’t been doing a bad job – but they’re also not the standouts they used to be.
On a recent call to American Express, an executive was straightening out a billing problem. At the end of the call, the operator asked her, “Have I exceeded your expectations for this call?” and the exec flatly answered, “No.” She had a billing problem, and the rep fixed it. That’s the expectation.
Now, if the rep had offered the executive a $50 American Express gift check to be used at any of American Express’ online retail partners, THAT would have exceeded expectations, right? That story would be worth repeating to 10-20 people. Can you imagine the executive telling anyone, “Hey, I called AmEx to fix my billing error. Guess what? They did it!” That’s not moving alone.
Here’s a good test to see if your marketing and sales strategies are in the category of “moving alone” – they are if you’re doing something that:
* is “simply not done” in your industry
* customers will make a remark about (remarkable!)
* goes against conventional wisdom (I call this “uncommon sense”)
* others (including your competition) think is “crazy”
* others (including your competition) will actually be AFRAID to copy
Get silly. Get crazy. Get an attitude. Get noticed.
Author Seth Godin perhaps put this most succinctly when he said, “Safe is risky. And risky is safe.”
Let me conclude with a recap of the 5 Marketing Moves:
1. Move Up = Get more valuable
2. Move In = Get closer
3. Move Ahead = Get smarter
4. Move Aside = Get specialized
5. Move Alone = Get noticed
Taken together, these will also help you make the Ultimate Move = Get insanely great.
And remember the immortal words of Jerry Garcia:
“You don’t want to be considered the best of the best.
You want to be considered the only ones who do what you do.”
So far, so good. But the problem is that no one can seem to agree on exactly which 5 P’s are important, so the list typically includes: people, product, place, process, price, promotion, paradigm, perspective, persuasion, passion, positioning, packaging, and performance.
Wow. Sounds complicated, huh? I’m going to try and simplify effective marketing into five moves – five concrete actions – that you can implement immediately. Your challenge: try one or more of these NOW.
Move 1: Move Up
Want to try something different? The next time you’re speaking with a prospect, when the question of price comes up, DOUBLE your normal price and see what happens.
Am I crazy?
Maybe, maybe not. The other side of the coin is that maybe YOU’RE crazy for not charging for VALUE, but instead competing on PRICE. Businesses that compete on price lose. Period.
The easiest thing your competition can do is undercut your price. In fact, the first thing they will copy is your price. It takes no imagination, no creativity, no innovation, no market leadership, and no vision to lower the cost of something. And it hurts all parties involved. Lower prices always mean lower profits. Studies have shown that a 1% drop in price leads to an 8% drop in profit.
What happens when you double your usual price?
Several things. Prospects perceive:
* An increase in the value of your product/service
* An increased level of prestige in owning/using your product/service
* An increased level of trust in you – and all your other offerings (the halo effect)
* An increased level of confidence that your product/service really works
A marketing consultant that I respect once gave me a very valuable piece of advice. She said, “Be expensive or... be free.” Being one of the most expensive providers of a service is remarkable – people talk about their $200,000 Italian sports car or $21,000 platinum-plated cell phone. Nobody talks about their $19,000 GM sedan.
I’ve helped companies double their prices, with great success, and I’ve helped independent consultants double [and in one case triple] their fees. In each of those cases, they got more clients, not fewer. Details on how to do this in Move 3. And perhaps this means you’ll lose a few unprofitable clients along the way. If you don’t lose some unprofitable clients, you won’t have room to serve the more profitable ones when they come along. It’s professional suicide to continue focusing on serving a market sector “that can afford” to pay your old (low) prices. Price doesn’t find clients. VALUE finds clients. And those clients that value your work should – and will – pay according to that value.
Free is also a powerful price point. And, of course, free is remarkable. Which is another facet to moving up – you move up when you give VALUE first. For free. Got a great idea for a prospect? Great! SEND IT TO THEM. Even better, got a business lead for them? Hand it over! Did you come across an article, a profile, or a piece of research that directly impacts their business? Clip it and mail it to the top person with a brief note. That prospect’s door is now open.
Move 2: Move In
Moving in means moving closer to the customer. Live in their world, think about their problems, and think about their clients and prospects. What’s the first step? Research. Preparation. Homework. Industry, regional, business, and company news is now at every salesperson’s fingertips on the Internet. If you’re not intelligently researching your prospect’s issues, challenges, and pressures, how can you possibly come in with a credible solution?
Don’t like sitting at the computer all day? An even better idea is to hit the street. Visit businesses, talk to your contacts in the fields you serve, get some firsthand information about what’s going on in their world – what are their challenges, perspectives, obstacles, priorities; what are their dreams, their “only-ifs,” and their biggest aspirations?
Is this a lot of work? You bet. Do the majority of salespeople put in this kind of effort? No way. Which is exactly why YOU should. That brings us to Move 3.
Move 3: Move Ahead
Moving ahead means going above and beyond what most salespeople are doing. It means putting in the work – yes, the real, hard work – that makes the difference between being a peddler and being a partner.
Want to move ahead? Start by avoiding doing things your prospects dislike.
Here are the top 10 things salespeople do that buyers dislike according to a Purchasing magazine survey. See if you (or your sales team) might be guilty of any of the following professional no-no’s:
10.Failure to keep promises
9. Lack of creativity
8. Failure to make and keep appointments
7. Lack of awareness of the customer's operation ("What do you guys do here?")
6. Taking the customer for granted
5. Lack of follow-through
4. Lack of product knowledge
3. Overaggressiveness and failure to listen
2. Lack of interest or purpose ("Just checking in")
... and the Number 1 dislike: Lack of preparation.
You can also move ahead by charging more (remember Move 1?) and DEMONSTRATING the VALUE of your product service with hard numbers.
In his insightful book, How to Become a Rainmaker, author Jeffrey Fox calls this process dollarizing. Dollarizing is one of the most powerful sales techniques because once you show (with real numbers that your prospect will provide you with) the return on investment – how THIS much spent will generate THIS much savings, or profits, or sales, or new clients, or hours, etc. – you basically shift the conversation from selling what you’re selling to SELLING MONEY.
In my seminars, I do an exercise called “The Money Machine” that will help you spell this out in hard dollars, very clearly.
The Money Machine goes one step further because you can use it monetize against:
* competing products/services
* the prospect doing nothing
* the prospect doing it themselves
* other things the prospect is already comfortable spending money on
For a free copy of my Money Machine worksheet, email me: david@unconsulting.com.
Suddenly, your product/service becomes a real “investment”: meaning, you can show people the math behind “this much IN” for “this much OUT.” There’s nothing much easier than selling money at a discount!
Here’s another way to move ahead: stop the ridiculous game of “closing the sale.” Closing is not a technique; closing is not a trick; closing is not about magic phrases and looks and power games. Closing should be a natural extension of your conversation, and the two most effective questions you should ask your prospect as you near the end of your value-based discussion are:
1. Does what we’ve talked about so far make sense?
2. What would you like me to do next?
Answer to Question 1: If you’ve prepared for the meeting, discussed the prospect’s key issues, and monetized the value of your solution, of course it makes sense!
Answer to Question 2: “Let’s go ahead” or “Let’s do the paperwork.” Or if your prospect answers this with “Get Out” or “Drop Dead,” you have a pretty good idea that the sale is not ready to close. Seriously, carefully listening to the answer to this question will allow you to address any hidden concerns, hesitations, or issues – right then and there before the prospect would otherwise blurt out an abrupt “No!” to any other traditional “ask for the sale” verbiage that so many sales trainers recommend. Remember, you’re not there to sell – you’re there to HELP THE PROSPECT BUY. If you need to tattoo that on your forehead, be my guest.
Move 4: Move Aside
Here’s another thing that most sales and marketing people have a hard time with: you can’t be all things to all people. Move Aside is about finding your niche, and claiming your expertise in a narrow area of specialty. In plain English, this means you want to become the “Go-To Guy” for your specific product or service – the exact opposite of a “jack-of-all-trades and master of none.”
The people you speak with will have a very different reaction to these two mental images of your product/service:
* “I think we can make this fit.”
* “This is exactly what we’ve been looking for.”
Let me give you an example. There’s a real company that lists among its services “Carpet removal, house cleaning, odd jobs, catering.” Now, I don’t know about you, but when I want a caterer, I’m looking for someone who does catering 24/7. I don’t want to have to worry about “Did they wash their hands after the carpet removal job and before serving my guests?” In fact, if I’m looking for a caterer for a wedding, I might even be drawn to “Wedding Bells Catering” much more so than “Sam’s Catering” or “Good Eats Catering.”
Here’s another example. There are lots of graphic design companies that do all sorts of work – websites, logo design, brochures, collateral material, wine labels, book packaging, etc. You name it, they do it. And business is generally OK. (But let’s face it, if they were going like gangbusters, they probably wouldn’t have sought out my help!) Some of them had a hard time differentiating themselves from the competition and others found it challenging to develop a strong client base and referral network. We’ve had some good success developing their current business, but when we delve into the possibilities of “Moving Aside” and carving out a real niche, or developing one thing that is their flagship specialty, most of my clients get cold feet.
One company (not my client – too bad for me!) that has done this with fabulous results is MaxEffect. They made a tough call. They moved aside. They could obviously do a wide variety of things with their graphic design and advertising skills, but they do ONE THING: they work exclusively on yellow pages ads. That’s it. If you want a killer yellow pages ad with bold graphics, custom or stock photography, clean layout, and a strong, compelling message, these are your go-to people. They’ve designed hundreds and hundreds of yellow pages ads and they’ve built a fanatical client base, and they get a steady stream of referrals – not to mention the steady and growing flow of client work.
Check it out for yourself: http://www.max-effect.com
Move 5: Move Alone
Right now, you are lost in a sea of gray. Me-too rules the day. Everywhere you look, there is more and more and MORE of the SAME OLD THING sold by the SAME OLD PEOPLE in the SAME OLD WAY. Boring. And deadly.
The problem is that people don’t buy gray. If you and your company and your offerings blend into the background, you might as well close up shop right now. Let me put it another way: all companies go bankrupt. It’s just a matter of time. Want proof? Out of the 100 largest companies of 50 years ago, 17 survive today. And none of those 17 are the market leaders they used to be.
Why? Shift happens. If you’re not separating yourself from the crowd, you’re blending in – and nobody will even notice you, much less seek you out and tell their friends about you.
Here’s an example of a company that really hasn’t been doing a bad job – but they’re also not the standouts they used to be.
On a recent call to American Express, an executive was straightening out a billing problem. At the end of the call, the operator asked her, “Have I exceeded your expectations for this call?” and the exec flatly answered, “No.” She had a billing problem, and the rep fixed it. That’s the expectation.
Now, if the rep had offered the executive a $50 American Express gift check to be used at any of American Express’ online retail partners, THAT would have exceeded expectations, right? That story would be worth repeating to 10-20 people. Can you imagine the executive telling anyone, “Hey, I called AmEx to fix my billing error. Guess what? They did it!” That’s not moving alone.
Here’s a good test to see if your marketing and sales strategies are in the category of “moving alone” – they are if you’re doing something that:
* is “simply not done” in your industry
* customers will make a remark about (remarkable!)
* goes against conventional wisdom (I call this “uncommon sense”)
* others (including your competition) think is “crazy”
* others (including your competition) will actually be AFRAID to copy
Get silly. Get crazy. Get an attitude. Get noticed.
Author Seth Godin perhaps put this most succinctly when he said, “Safe is risky. And risky is safe.”
Let me conclude with a recap of the 5 Marketing Moves:
1. Move Up = Get more valuable
2. Move In = Get closer
3. Move Ahead = Get smarter
4. Move Aside = Get specialized
5. Move Alone = Get noticed
Taken together, these will also help you make the Ultimate Move = Get insanely great.
And remember the immortal words of Jerry Garcia:
“You don’t want to be considered the best of the best.
You want to be considered the only ones who do what you do.”
Sunday, May 10, 2009
3 Steps to Creating A Knockout Corporate Logo For Dum Dums
A corporate looking logo can effectively make you look far more important than you actually are. By adopting this simple 1,2,3 step guide we can turn your existing crummy logo into a world beating effort - garaunteed to impress the ladieees.
Step 1 - Choose a dull font such as helvetica
In the world of high flying executives and corporate back slapping deals done upon yachts etc. the one thing almost all self-made millionaires will agree on is that you must give the impression that your company is a straightlaced solemn outfit. Standard fontfaces such as helvetica or times will signify your ability to fit in with suits without ruffling too many feathers and will be looked favourably upon by those all important investors looking to harvest some of their cash in your business.
Step 2 - Choose a dull colour such as grey
Battleship grey - has there ever been a colour more appropriate for the deadening nature of high corporate investiture? No, not by my reckoning at any rate. But surely a grey logo among a sea of other bland logos is just going to get lost isn't it? Hmmm, I've got to hand it to you, you're right but do you know what - if we add a smidgin of royal blue somewhere within our hypothetical logo we achieve the type of chin stroking brilliance that committee members and associate directors can spend literally minutes debating before abstaining to the golf course and soho massage parlours.
Step 3 - Choose a dull symbol such as a circle
Right this is where our creative minds get to have some fun. Do we put the grey/blue circle before the words or after? Above or below? Whatever you choose to do make sure it doesn't involve anything too clever or inspiring. Remember our aim here is to look 'corporate' and sensible not like some kind of fun loving chimps, you gets me. Right the logo should be just about complete and ready to enter the exhilarating world of corporate high life. To celebrate why not throw a lavish party inviting your corporate buddies like Dave and Steve from down the pub?
To summarise, what we want to achieve is an air of 'dullness' yet reliability. Choose a dull font, keep the colour palette strictly dull- nothing too interesting and if you must add a quirky symbol of some sort make sure it keeps well within the dull spectrum of ideas i.e. a circle or square. Corporate Logo Design is not rocket science but if you want to give off the right impression you've got to go with the flow. Right now where did I leave that bowl of cocaine I'm off to a corporate party. Toodle pip.
Step 1 - Choose a dull font such as helvetica
In the world of high flying executives and corporate back slapping deals done upon yachts etc. the one thing almost all self-made millionaires will agree on is that you must give the impression that your company is a straightlaced solemn outfit. Standard fontfaces such as helvetica or times will signify your ability to fit in with suits without ruffling too many feathers and will be looked favourably upon by those all important investors looking to harvest some of their cash in your business.
Step 2 - Choose a dull colour such as grey
Battleship grey - has there ever been a colour more appropriate for the deadening nature of high corporate investiture? No, not by my reckoning at any rate. But surely a grey logo among a sea of other bland logos is just going to get lost isn't it? Hmmm, I've got to hand it to you, you're right but do you know what - if we add a smidgin of royal blue somewhere within our hypothetical logo we achieve the type of chin stroking brilliance that committee members and associate directors can spend literally minutes debating before abstaining to the golf course and soho massage parlours.
Step 3 - Choose a dull symbol such as a circle
Right this is where our creative minds get to have some fun. Do we put the grey/blue circle before the words or after? Above or below? Whatever you choose to do make sure it doesn't involve anything too clever or inspiring. Remember our aim here is to look 'corporate' and sensible not like some kind of fun loving chimps, you gets me. Right the logo should be just about complete and ready to enter the exhilarating world of corporate high life. To celebrate why not throw a lavish party inviting your corporate buddies like Dave and Steve from down the pub?
To summarise, what we want to achieve is an air of 'dullness' yet reliability. Choose a dull font, keep the colour palette strictly dull- nothing too interesting and if you must add a quirky symbol of some sort make sure it keeps well within the dull spectrum of ideas i.e. a circle or square. Corporate Logo Design is not rocket science but if you want to give off the right impression you've got to go with the flow. Right now where did I leave that bowl of cocaine I'm off to a corporate party. Toodle pip.
Thursday, April 30, 2009
3 Reasons You Should Attend Seminars
If you have never gone to an online marketing seminar, you're missing out.
I know what you're thinking...
"Seminars are expensive."
That's true. They are. Some of 'em cost over $5,000. Even the lower-priced parties are around $2,000.
"It's a pain in the butt to attend."
Again, that's fair. In order to go, you have to get on a plane and fly somewhere. And you have to take time from your work and family to do it.
But, there are at least 3 reasons that attending seminars should be on your priority list (even if you DON'T plan to do a major product launch).
1. You Are Surrounded By Like-minded People.
Scoff if you want. But, I'm telling you, there's huge POWER in being around folks who are driven to the same goal as you are.
To this day, my friends and family don't really get what I do. They nod their heads and smile, but I can tell their eyes are glazing over.
Well, picture being at a party with a few hundred people who not only know what you do... they do it, too! You'll be amazed at how inspiring that can be.
2. You Meet People Who Inspire And Drive You.
I know it sounds flighty. But, when you're downing drinks with someone and sharing strategies back and forth about what's working, your mind ignites.
You find yourself wishing you'd brought your laptop so you can start taking action that moment!
And here's something better... you exchange phone numbers (yep, remember that thing you used to use before becoming a recluse?) and follow up with each other.
That's accountability, baby and it can drive you to major success.
3. You Remove Yourself From The Daily Routine.
Ever wake up and have trouble getting your engine started? (I'm not talking about your car here.) And if you ever DO get the thing to turn over, you can't seem to get any speed?
It happens to me all the time. I'll wake up and the day will pass without my having done one truly productive thing! It stinks.
I'll tell you why it happens to me...
I get bored of my routine! Now, don't get me wrong. Routines are good. In fact, they're CRITICAL to your success. Humans need routine.
But, it's JUST as important to get OUT of your routine. And going to a seminar does that for you. It makes you leave your boring daily routine behind.
Going to a seminar can give your brain (and motivation) the jump-start it needs.
Last Thoughts
I'm not trying to sell you on a seminar here. I'm only trying to get you to think about going to one.
There are a lot of benefits to going. Benefits that aren't always clear until you're there, in the hallways, in the bars, at lunch... talking with folks who are doing EXACTLY what you are doing.
It's empowering. It's inspiring. And chances are, one you attend a seminar, you'll be excited to go to another.
I know what you're thinking...
"Seminars are expensive."
That's true. They are. Some of 'em cost over $5,000. Even the lower-priced parties are around $2,000.
"It's a pain in the butt to attend."
Again, that's fair. In order to go, you have to get on a plane and fly somewhere. And you have to take time from your work and family to do it.
But, there are at least 3 reasons that attending seminars should be on your priority list (even if you DON'T plan to do a major product launch).
1. You Are Surrounded By Like-minded People.
Scoff if you want. But, I'm telling you, there's huge POWER in being around folks who are driven to the same goal as you are.
To this day, my friends and family don't really get what I do. They nod their heads and smile, but I can tell their eyes are glazing over.
Well, picture being at a party with a few hundred people who not only know what you do... they do it, too! You'll be amazed at how inspiring that can be.
2. You Meet People Who Inspire And Drive You.
I know it sounds flighty. But, when you're downing drinks with someone and sharing strategies back and forth about what's working, your mind ignites.
You find yourself wishing you'd brought your laptop so you can start taking action that moment!
And here's something better... you exchange phone numbers (yep, remember that thing you used to use before becoming a recluse?) and follow up with each other.
That's accountability, baby and it can drive you to major success.
3. You Remove Yourself From The Daily Routine.
Ever wake up and have trouble getting your engine started? (I'm not talking about your car here.) And if you ever DO get the thing to turn over, you can't seem to get any speed?
It happens to me all the time. I'll wake up and the day will pass without my having done one truly productive thing! It stinks.
I'll tell you why it happens to me...
I get bored of my routine! Now, don't get me wrong. Routines are good. In fact, they're CRITICAL to your success. Humans need routine.
But, it's JUST as important to get OUT of your routine. And going to a seminar does that for you. It makes you leave your boring daily routine behind.
Going to a seminar can give your brain (and motivation) the jump-start it needs.
Last Thoughts
I'm not trying to sell you on a seminar here. I'm only trying to get you to think about going to one.
There are a lot of benefits to going. Benefits that aren't always clear until you're there, in the hallways, in the bars, at lunch... talking with folks who are doing EXACTLY what you are doing.
It's empowering. It's inspiring. And chances are, one you attend a seminar, you'll be excited to go to another.
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