Sunday, 1 of August of 2010
Marketing and Selling Insights, Ideas and Strategies for Building Your Business
Do you treat prospects (AKA: Non-customers) better than you treat you customers?
In this video I show one example — from a major publisher — that says they care more about prospects than the people actually paying them!
What’s your opinion?
Differentiation is crucial to beating out the competition and demonstrating value (and higher prices) for your products and services.
In this video I’ll reveal how to instantly create totally unique products or services that will leave your competitors in the dust.
Not only will your products be recognized as having high value, but … you’ll be the first and ONLY one to be able offer this new innovation.
Competitors can NEVER make the exact same claims for their own products.
I think you’d agree that all businesses want more sales (if they hope to STAY in business)?
Because the more sales you make … the more money you earn. Simple math, right?
Yet many companies ignore some of the most responsive sources of new sales. (Even though two of these sources sit right under their nose).
And these two sources generally:
Okay, enough teasing.
I’m sure you’re aching to know … where DO you fish …
When you’re looking to hook more customers
with less bait and without leaving the comfort of your swivel chair
There are countless ways to attract prospects that you hope will turn into customers.
And I won’t go into any of them here today.
Instead I’d like to point out the two most productive sources of new business for you to tap. And the good news is BOTH these “wells of new business” should be instantly available for you to use.
(Drum roll please)…
They are: Current customers and “Ex” customers.
Does it surprise you that
Lost (or past) customers may be
your best source of New sales
Think about it and you’ll see what I’m talking about.
Just because a customer leaves doesn’t mean you have to write them off for good. In fact, the reason they left could be something very fixable …
But gone for now does NOT mean gone forever. And you have a high probability of reclaiming a customer by just reengaging with them.
Of course you’ve gotta have a good (and valuable) REASON to contact your “ex”. Otherwise nothing will come of it.
But let me suggest you
Give it a try and see for yourself whether …
Some of your best new customers are … your previously lost (or forgotten) customers.
One more thing.
Now that you know this incredible source of new customers … make sure you ALWAYS think of ex-customers as future new customers.
Doing so may cause you to do a complete turn-about in how you treat people when they cancel your service, return a product … or even lodge a complaint.
This video is a short case study of why it’s so important (especially today) to use
personalized marketing messages to help build strong customer relationship.
Ignoring this is sure to cost you sales!
About eleven years ago, as co-owner of a computer services company on Long Island, I made a very costly marketing mistake.
What was this mistake?
I forgot (or chose to ignore) the REASON that advertising and marketing exists … at all.
The ONLY goal of advertising is to make sales.
And the only type of advertising that can truly address, support and achieve this goal is direct response.
I had help with my blunder
I had accomplices in my personal advertising folly.
One was our highly regarded advertising agency (I think they actually called themselves “consultants”).
The creative folks and account people were quite happy to implement my “brilliant” advertising vision. So we plastered a stack of 4-color posters across billboards throughout platforms of the New York City Subway System.
The posters were gorgeous – very “hip” and arty. They were so nice we even hung one on a wall in our office.
The result: No new business.
Or more correctly … no business we could TRACK.
As I recollect, we had no specific call to action. No direct customer benefits. And the “Big Idea” (if you can call it that) was way too subtle.
In short, it was a complete waste of time, energy and money.
Except for the Ad Agency, that is.
3 Immutable goals for EVERY marketing campaign
Advertising and marketing campaigns should:
Be targeted to reach your ideal client - so you don’t waste your efforts reaching people that don’t give a rat’s behind about your product or service.
Have a call to action that drives people to actually DO something. Remember the goal is to ultimately get a sale – so you must turn targets into prospects (leads) and prospects into clients.
Measure results. Without accurate results of your marketing there’s no accountability. You’ll have no idea what’s working and what needs to be tweaked or trashed entirely.
The bottom line:
After my blunder I discovered that direct response marketing is the best and most cost effective way to achieve these three immutable goals.
This is true because direct response techniques and strategies work in ANY media. It works on the Internet and in broadcast, print, direct mail … or any media that may pop up in the future.
Direct response marketing never goes out of style … and is proven to always deliver the goods.
Start using direct response marketing and you’ll drive more – measurable sales – to your business.
Several months ago I signed up for Twitter and tweeted my first tweet.
And it was fun … a little addictive … and even somewhat exciting … as new folks started to “follow” me almost instantly.
However I never really saw much REAL value to Twitter.
Until Tuesday of last week, that is. That’s when my opinion of Twitter forever changed.
Here’s what happened.
On Tuesday afternoon I received an email request from a fellow Tweeter. He asked if I’d join his expert panel of copywriters for a Twitter group chat he was sponsoring that night.
He explained he ran these chat sessions weekly for a dedicated group of his followers.
Sounds like fun … so it’s a go!
At 8PM I connect to the Chat using a very cool web application called TweetGrid.com. This gives me three windows into the “conference”: my personal window, the organizer’s window and the attendees’ window.
Once the Chat begins questions start flying in fast and furiously. And my fingers seemingly never stop moving for an instant.
The energy is amazing as each question spawns comments and new questions between everyone in the Chat. Plus, the spontaneity and quick interactions make me feel like I’m part of a “live” discussion group.
On goes the light bulb!
It was at that moment I saw the power of Twitter … to bring people together … and allow multiple instant interactions among people around the world. To share ideas … to ask questions … or just shoot the breeze about things we may have in common.
Totally amazing. And infinitely valuable too.
One more thing.
There’s another benefit to my participation in the expert group of copywriters. By the end of the night I had a least 40+ new tweeters following ME!
Next step I think is to organize a Twitter Group Chat of my own.
Wanna join us?
Start following me on twitter: www.twitter.com/markdresner to find out when the big Tweet-o-rama will take place.
The take away
If you haven’t tried Twitter – or other social networking platforms – I recommend you give it a whirl. Once I “engaged” with Twitter … and had an opportunity to see it in a new light … my perception of its value instantly changed.
It’s important to be open-minded and always asking yourself the question, “how can I use this to the greatest benefit.”
Keep asking this question … and answers will appear. I promise.
P.S.
Many thanks to John Sternal. He opened my eyes to the limitless possibilities of Twitter – by inviting me as an expert panel member on his Small Business Chat on copywriting (@SMBIZ).
I encourage you to check him out at www.twitter.com/sternalpr
All winter my “summer” car – a Porsche 911 Twin Turbo – hibernates safely in my garage…
… Sleeping peacefully until Spring arrives.
THEN … when the first warm day DOES finally arrive, I impulsively dash to the garage to get her on the road.
Problem is after 4 months of sitting the car needs more than just a turn of the key to get going. It needs a bit of a spring tune up to get ready to roar.
Funny thing is I’m exactly the same way …
After Winter fades away into Spring I need a tune-up to get my brain running again on all cylinders.
So every year I give myself a “vaccination” to protect myself from sleepy brain syndrome (SBS).
Ever experience SBS? I thought so…
Sleepy Brain occurs when your brain goes into partial hibernation from December through March. I think it’s an unavoidable built-in reflex.
When December comes … snap … an internal “off’ switch flips in your head. It sends your brain into neutral … kind of running … but not getting anywhere very fast.
But then Spring returns!
Here what I do to combat this productivity and success buster.
EVERY year I give myself a tune up by Reviewing 3 powerful audio programs.
www.markdresner.com/getsharp.htm
Each of these programs is a timeless classic that instantly get my mind back on track. I just pop them in the car CD player or download them to my iPod.
And even though I go through these programs once a year I NEVER tire of them.
Why? Simple. Because they work!
They give me a well-needed jump start after the winter. And they set me up for maximum performance for the rest of the year.
As you can tell, I’m very high on these 3 timeless, powerful and totally effective audio programs.
Click below to check out the programs I use to tune up my brain from its winter sleep and to vaccinate myself from “Sleep Brain Syndrome”.
www.markdresner.com/getsharp.htm
Do it now – before you nod off!
Rock beats scissors … scissors beat paper … paper beats rock.
Remember this game? It’s like flipping a coin except with decisions and strategy.
This game decided many important issues in our family. For example, which team batted first, who sat in the front seat or what TV show we watched.
This seemed fair to me … at least half the time. The other half I wasn’t happy with the outcome.
Why? Because I lost.
Human nature is such that we always want to win. Right?
Here’s what I want.
I’d like to get my hands on a powerful weapon that virtually guarantees victory. Sorta like using a Nuke in the Rock, Paper, Scissors game.
Of course it has to be something my competitors don’t know about or think to use.
Good news … I’ve got just the thing … and will reveal it in just a moment.
But first, let me ask this.
Is your “go-to” tool the same as many of your competitors?
It’s likely the same tactic I often used when selling multi-million dollar computer systems, years ago. Know what I did?
At the blink of an eye I would cut my price in the face of competition.
And I’m not alone. Price chopping seems to be the number one competitor-beating strategy companies use.
Nothing. If it’s part of a well thought out marketing strategy.
Otherwise, it could hurt the perceived value of your products and … splash red ink generously over your bottom line.
I’m NOT trying to be overly dramatic here. Just trying to make a point.
However …
Face it, the likely reason you’re dropping prices is to attract new customers and drive new business. On the surface that seems to make sense, but …
However there may be some unexpected results too:
How many of these gotcha’s have you experienced?
Okay, so what’s the alternative?
Simple. Give them what they REALLY want.
People often fool themselves into believing what they really want is the lowest price.
Not true.
What we all really want most is maximum VALUE.
Value is when you feel you’ve gotten a fair deal on a transaction. You exchange your money (or time or effort) and receive something of equal worth in return.
You see it’s not just about getting the lowest price.
Getting a better (or best) value, of course. This occurs when you get something worth more or MUCH more than you’ve paid for it.
We’re talking about shopper Nirvana!
Value is a very relative measurement. And what’s good value to one person may be of little value to another.
This is where choice comes into play.
How many times have you been presented with this type of choice?
For me the answer is, “every time I walk in to a car dealer to buy a new car.”
Sure I may start out with the entry-level (silver level) car, but I never leave with it.
Why?
Because, if my salesperson is doing his or her job right, they’ll demonstrate the added value of the model one level up. Or even two levels up (Gold or Platinum).
They’ll skillfully explain all the benefits I get (comfort, safety, and higher resale value) of the “better” models. Furthermore the few dollars more per month is insignificant compared with the many benefits I’ll enjoy.
Plus they’ll also throw in free oil changes for life.
Wow. Now I’m sold.
But it doesn’t end there. After I’ve committed to buying the more expensive (I mean value-laden) car I’m presented with dealer-installed options.
If I choose I can FURTHER enhance the value of my purchase. Perhaps with a better stereo or a GPS system…
Use this strategy to attract new customers. Then delight them with choices that meet their financial, emotional and practical needs.
Give real value and you’ll keep customers coming back again and again. Plus you’ll keep your own bottom line healthy too!
Let the other guys lose their shirts by continually cutting prices … Right?
Selling technology services is no picnic.
Actually, selling ANY service is tough.
Though, in my book, technology services are the toughest.
After all, they’re complex, confusing and generally difficult to present to clients. And like all intangibles, services don’t really exist at all.
At least not in the literal sense, like a “thing.” Instead, services exist solely in the imaginations – and written contracts – of their creators.
Products on the other hand, have substance and form. They can be seen, touched, and held. With products, little is left to the imagination.
Because of this products far easier and less risky than services to present, sell and buy.
For many technology companies services deliver greater profits than products.
But they’re tough to sell.
Products are easy to sell … but they’re less profitable.
What a dilemma.
What if it were somehow possible to transform a service into a product? Then you’d have the best of both worlds.
You’d have something highly profitable AND easy to sell!
Well, in fact, it is possible to productize any service. And I’ll show you exactly how to do it. In essence we’ll transform our intangible service into something tangible, real, and easy for clients to buy.
We’re all familiar with insurance.
A life insurance policy, for example, is a service product. The agent delivers your policy documents in an elaborate presentation case with the policyholder’s name inscribed on the cover. The overall presentation reinforces the sale and adds genuine value and confidence in the mind of the buyer.
Generally, the more tangible you make a service offering (the more product-like), the easier it is for both salespeople to sell and customers to buy.
Clients want to know exactly what they’ll receive when they buy your service. Plus they need to recognize the value of the service deliverables to their business.
Until you’ve demonstrated these two things your client won’t commit to buying your service.
Turning any service into an easy-to-sell product really comes down to these three steps.
Step 1: Determine what problem your service REALLY solves. Be very specific here. Make sure you’re solving a problem that your clients really care about.
This is also really a benefit statement of how you will help the client. Think how you’ll make his or her life easier, save/make money or improve business operations, etc.
And this is no time to fool yourself with “faux benefits” that aren’t really benefits at all. Your list of benefits should embody the ultimate value the client can hope to receive by buying and using your service.
Now is also the time to think about what makes your service unique. In other words, how does your service/product solve the client’s problem better than any competitive one?
A Unique Selling Proposition (USP) can be proprietary delivery methods or methodologies, proprietary software or tools or highly trained personnel.
Step 2: What will the clients get from your service? What are the specific and tangible deliverables?
Every service has a deliverable, right? When packaging a service into a product the deliverable should ideally be tangible. The more tangible you make the service and the deliverables the easier it will be to sell.
Examples of tangible service deliverables include: printed findings reports, documentation, Audios and video, websites, analyses and recommendations.
The goal is to be able to leave something behind as evidence that something was done and that the client received value.
In my experience printed reports are excellent “service delivery artifacts.” Here’s why.
People will often leave them on their desk for a long time. So as a side-benefit you also end up with an advertising billboard for your service.
Step 3: Create marketing, sales and training materials. These materials serve two purposes. They give additional substance to your service product, making it “feel” tangible. Part of these materials should be pricing guidelines for the main product as well as any add-ons.
Your materials are also tools for your sales force to present the product and ultimately close business.
Effective marketing materials are brochures, Service Product Descriptions, websites and samples of any physical deliverables.
Try this if you’ve ever pondered whether a new service will be successful.
Prototype the new service on paper first. Here’s what I mean.
Go through the process we just discussed above with the service your contemplating. In every step PRETEND the product is real and available now.
At the end of the process you’ll have materials to test the viability of the service.
Just create a direct mail letter to existing customers and prospects announcing a new service to be available very soon. Feedback from the mailings should help determine if the service makes sense to proceed with.
This approach is clearly less risky than taking a “build it and they will come” approach. Agreed?
Turning your technology (or any other) service into an easy to sell product takes only 3 steps. And this process also serves as a risk-free testing group for services you consider to offer too.
Using this process could be your secret weapon to services selling success.
Imagine this. Your biggest adversary actually helps you to sell your product, service or ideas.
Sound impossible?
It’s not. And it happens every day in business, politics … and personal situations.
In fact, you may already wield this power unconsciously.
So how DO you use your mortal enemies to achieve your own goals?
An example from current events
Have you read the newspapers lately? Article after article report on the current (terrible) state of the economy.
Millions of jobs lost. Nest eggs lost to a financial market crash. Banks foreclose on homes at an alarming rate.
Who’s to blame? Answer: Wall Street
Wall Street – or anything financial – is the “common enemy” of anyone affected by the latest financial turmoil. Many believe Wall Street’s self-centered greed and devil-may-care attitude caused the downfall of global economies.
Right?
At least that’s what many (smart) politicians are saying. Washington has carefully selected an enemy for people to rally against – that further politicians’ agendas.
But this isn’t about politics … so let’s move on.
Using a common enemy to sell
Let’s take a look at a practical business application. Here’s how to use a common enemy to help sell your products and services.
I think you understand the mechanics from our political example. Quite simply you pick a big easy target that’s easy for people to hate or distrust. You paint your enemy as uncaring, out of touch, or inept.
You demonstrate the enemy’s only concern is for profits – at the expense of all else – causing great pain to your customers.
Next, you slay the beast
You’ve created an enemy. Plus you’ve riled up a throng of pitchfork carrying villagers – all ready to march on the villain’s castle.
Now it’s time to slay the beast. Here’s how to do it.
First, position yourself as the solution, antidote or “underdog” to this heartless monster. You’re the David standing up against the evil giant Goliath.
You (and your product) are the lone torchbearer of truth. You’re the one brave soul, whose only aim is to save the customer from this menacing evil.
Get the picture?
You’ve successfully rallied the troops around this formidable enemy and only TOGETHER can you fight them – and win.
And that one single solution is to buy your product or use your service.
A real business example
One place you see this approach used is in selling alternative health remedies.
Sellers portray the big drug companies as greedy – demanding you spend a fortune treating symptoms – never delivering real cures.
Perhaps they begin to believe – in the back of their mind – medical doctors aren’t helping them. They see that traditional medical doctors only want medicate you or cut you open to solve problems.
Furthermore doctors ignore, are scared of, or are just plain ignorant of treating patients with “natural remedies”
See how you’ve created an enemy in the minds of your customer? Actually you’ve focused on things the customer has probably ALREADY been thinking. You’ve just brought it forward.
The white knight?
Then the alternative remedy marketer dashes in. Like a knight in shining armor he saves with an “all natural herbal remedy, used for centuries by wise men in India…”
Of course I’m exaggerating to make a point. But I think you see the power of how this works.
Recap: three steps to getting sales from your enemies:
1. Find a common enemy that customers can clearly identify with.
2. Portray the enemy as uncaring, harmful or inept.
3. Demonstrate that your product is the anti-enemy – the solution to this terrible threat.
Use this powerful technique of creating a common enemy and you’ll have a highly effective weapon in your selling arsenal.