Friday, March 28, 2008

Your Business is a Cereal Box: Attract, then Inform

Cereal manufacturers know how to grab your attention: bright colors,
simple and compelling messages ("Source of 5 essential nutrients"),
catchy headlines. What about the ingredient list with all the
nutritional information? That's on the side; easily found, but obviously
secondary.

The lesson: Ingredient lists don't sell cereal. Look at your business
features as you would the nutritional information on a cereal box:
people only look at it when they are already considering buying the box. It
displays important information that needs to be communicated, but it
does not answer the first questions in the client's mind.

For service providers, marketing is a challenge: you know your service
is useful and has value, but because you don't have a physical product,
the benefits may be harder to define. After all, your client will only
experience what you do once they actually hire you, which they won't
do if the benefits of using your services are not convincing.

How will you, as a service professional, deal with this fact? You must
communicate with your clients by being focused on their needs first.

Attract, then Inform
I notice that many of my clients put too much emphasis on what they do
instead of emphasizing why their audience should choose them over the
competition -- or choose them at all.

Note these claims:
- We offer a 90-day guarantee
- I have over 15 years experience in my field of expertise
- I give 10% off all first-time buyers
- We'll set you a free e-mail account when you purchase our 1-year
plan.
- I'll send you my 20-page report when you sign up for my newsletter
- My office is fully equipped to fill your needs.
- I've done research in this field and found.
- I am a member of these organizations: .

What's wrong with these claims? Absolutely nothing, if they are true.
In fact, these are features your clients should be aware of. They are
part of what you are offering (the "what" of your business), but they are
independent of your clients and their personal concerns.

Benefits are effective in attracting people because they speak to what
they can gain personally. Once you have their attention, then you can
enhance your selling proposition with features. Features can close a
sale, but they will usually not be your client's first point of entry.

Your benefits should:
- Show the value of your services,
- Tell your audience what problems you will solve, and
- Describe what they stand to gain by doing business with you

I vs. You
In the features list above, notice how many times "I", "we", "our",
"my", and "me" are used. People are naturally concerned with their own
needs first. By presenting them with a list of reasons why you are so
great, you are sending them the wrong message: that their needs are
secondary to what you think they should know. Don't make the mistake of
turning your marketing into a giant résumé of your accomplishments. Use
words like "you" and "your" more often.

Be your own client
What do your clients look for? Try a little role playing: Pretend you
are your own prospective client and objectively evaluate your
communication material.

Ask yourself: Would I buy from myself? What would keep me interested?
What am I looking for? What do I really want?

Learn from how you search the web: If you were looking for
administrative help, would you be searching
Google for "15 years of experience"?
Probably not. You would be more likely to search for terms like "database
entry" or "transcription services". If that's what you look for,
chances are most of your clients will do the same. Give them what they want
and organize your information accordingly.

As you create any communication material, answer these questions:
- What is the value of my service?
- What distinct problem will my service solve?
- What will my client gain?
- What does my client stand to lose by not using my service?
- How will my client feel after buying/using my service?
- What pain will it take away?
- What goal will my client achieve?
- What desire does it fulfill?

The answer may be different for each target market, so it is important
to know who your prospective clients are before asking yourself these
questions.

Being completely objective about your own business is not easy; you've
worked hard to build it and you know it inside out. Defining your
benefits from an outside perspective can enable you to better understand how
other people view your business. Getting a view of your own "big
picture" is something a professional business coach can help you achieve.

Whether you do it alone or get outside help, it never hurts to think
about what you have to offer to potential clients. So, next time you're
at the grocery store, stop by the cereal aisle and ask yourself: "What
are MY 5 essential nutrients?"

Copyright. Cristina Favreau. All rights reserved.


Cristina Favreau specializes in helping passionate & motivated service
professionals who love what they do, but struggle with marketing &
self-promotion. Using the Get Clients NOW (TM) program, she makes it easy
to understand. Within 3 hours, she'll help you identify where you're
stuck in the marketing process & come up with an action plan to gain
immediate momentum. Join Cristina on her blog, The Savvy Entrepreneur, as
she calls things the way she sees them at http://blog.cristinafavreau.com.

Monday, March 10, 2008

Test Your Marketing


Marketing 'out of the stomach' is of no value if you strive to
'conquer' markets/market segments really. In order to test YOUR approach, the
following 'basic' questions should be answered in abt. 2 - 3 hours. This
should give you an idea whether you really are aware and possess the
necessary data of the most important facts of YOUR market/s - worldwide

Company in General

Which targets – referring to the turnover and the profit resp. the
personnel needed and the production means – do you intend to reach with
your company within 3 years from today ?

Broken-down into sales region/country as well as product group and
sales route – and in which steps – e. g. massive marketing investment and
then switching to a permanent business or step-by-step-increase ?


Present resp. Last years’ turnover structure

- Which turnover is generated by each sales region/country/sales route
– with reference to the individual products ?
- Which contribution margin/profit is generated for each sales region/
country/sales route referring to each product ?
- Which sales routes should be envisaged/are necessary to reach the
targets as per 1. above ?


Client structure

- Which client groups/market segments do you supply today ?
Do you have an analysis of the existing/potential clients per field of
activity/product ?
- Which client groups/marketsegments (for each sales region/country)
are missing then (e. g. compared to your presently ‚strongest/most
successful’ market ?
- Are you aware of the total number of potential clients for each sales
region/country/market segment ?
- Is/Would ‘key-accounting’ be important for you and which information
is available about such potential clients ?
- Which is your market portion/coverage (as percentage of all clients
available in the respective sales region/country/market segment ?


Competition

- Who is your competition – listed from ‚most important’ to ‚nearly
negligible’ ?
- Where are they better/worse compared to you (with reference to
products and sales routes) – and why ?
- Would it be advisable to adapt possibly any of the procedures of the
competition for you without becoming untrustworthy to your clients ?


Products

- Which are the most successful products – as well in your own
portfolio as compared to the competition - and why ?
- Which new products are requested by the clients already today,
respectively which tendencies are shown in the market with regard to HIS new
developments, i. e. is known which market segment is going to develop
how and do you think you will remain the suppliers to this market (even
if the final products are changed) ?
- Is there any kind of replacement/substitution of your products
already available and – if so – would it be advisable to produce these
yourself or cooperate with others ?
- With whom and would possibily some kind of exclusivity be available –
especially e. g. for foreign markets … or any other … ?
- Which new products do you intend to produce and why ?
- Which products are so small in turnover/quantity that they could
possibly be eliminated from your range – or are there any good reasons to
go on to produce them ?


Pricing/profit

- Which contribution margins/product per client group/market segment
are reached by you and could they/how possibly be increased ?
- Which contribution margin/profit generates each of the products
checked on which sales route - Internet, direct sales, project orders, via
representatives, … ?
- Could possibly the ‚most successful’ sales route/product be adapted
for other sales regions or how could this be solved ‘at the lowest
possible cost’ ?


Sales department

- Do you know which cost per sales region/representative are spent in
total and have you elaborated a comparison regarding the profitabiltiy
of the sales regions/sales routes with reference to the total profit,
the products sold there and the total cost spent ?
- Which new sales regions/countries - with reference to the client
groups/markets segments should be developed in addition umtil when – based
on which sales projections ?
- How have the necessary sales regions to be structured – and why this
way ?
Sales through own personnel, subsidiaries, representatives,
synergy-partners/alliances, Internet ?
- Which additional contribution margin/profit can be expected by them
and which investment would be necessary to develop such new sales
regions/market segments ?
- Which sales areas have to be re-structured due to the potential
available in order to reach a better/optimum coverage of the market ?
- Are all representatives well informed regarding their present
clientele, i. e. not only to know the decisive people of the client but also
their future plans - with regard to products, sales regions, etc. ?
- How is their success in winning new clients and who is responsible
for the respective data ?

Michael Richter - International Marketing- and sales consultant -
concentrates for more than 35 years on marketing and selling of investment
goods and long-lasting consumer goods to/in all 5 continents - since
1991 he works as an independent marketing consultant, especially for SMEs
worldwide.

He offers practical 'hand-on' assistance to his worldwide clientele.

Michael Richter - International marketing and sales consultant
Hauptstrasse 27
88422 Seekirch/Germany

http://www.marketing-und-vertrieb-international.com/en/
http://www.internationales-marketingkonzept.de/en/

Tuesday, March 4, 2008

What a "No-Show" says about you


In being CEO of BusinessIIBusiness I have many meetings, lead a few mentoring groups and BusinessIIBusiness Networking chapters. I find it amazing that so many "Decision Makers" are ruining their reputations by not showing up to either meetings or scheduled events.

I have been very shocked lately in seeing a rise in "No-Shows" among so-called professionals. Why do you think this is? Why would a person go through the trouble of either connecting with people for business or signing up for a workshop/seminar and just "flake-out", as I would term it?

I have always been intrigued by the power of Psychology and after experiencing more than my share of the "No-Show Syndrome" lately, I've had to dig deep into the Psychology of it to get the answers I am looking for. Although to me, no answer is a good one, I still want an explanation of some sort.

Here are some things that a "No Show" says about you, not only as a business person, but an individual:

Messages it tells others about you:

  • Rude (Not socially acceptable)
  • Lazy (Too lazy to call or show)
  • In-considerate (Do not care about others time and money)
  • Careless in business (Do not closely monitor your business activities)
  • Non committed (Shows lack of commitment in business)
  • Non Successful (How can you be successful if your all of the above?)
  • Prideful (Only care about your current needs so you don't show)
Messages you are "telling" the person who invited you or you said "yes" to:
  • I am really rude to you
  • I am so lazy..show me something worth getting up for
  • I could care less about the time it took you to plan or buy things to make it happen
  • I am totally careless in my business. "Want to exchange business cards?"
  • I am not committed to you or my business...and so what? who cares?
  • I say I'm an entrepreneur, but really I'm quite unsuccessful....but "Can you refer me to your friends and family anyway?"
  • Honestly...I care only about myself...it's all about "me"! If something comes up or I just don't feel like it....don't expect me to show or even call you because my life is way more important than you.
I know this is harsh...but it's time to get back to honest business people and create a business we can all be proud of....I hope this opened your eyes to see yourself in a new light. If this has helped...please comment below...and don't forget to link back to our blog. http://businessiibusiness.blogspot.com Visit our website today and sign up for a free business profile: http://www.BusinessIIBusiness.com

Jennifer Cannon
CEO
BusinessIIBusiness