May 8, 2015 | Communication, Marketing, Small business, Social Media
I am speaking to small businesses all the time, and there are a lot of common conversations that occur. One of the most common is about advertising, particularly as it relates to advertising with Facebook and Google.
The conversations take a pretty common route.
The first thing to understand is the huge differences in a potential customers situation as they encounter Facebook ads, and Google AdWords.
The reasons people go to these two platforms are different.
Facebook is social, people are not there to buy stuff, so the path from the social to a transaction usually has a number of steps.
By contrast, a Google search is very specific, “I want information on XX”. Sometimes it will be for the purpose of researching, and sometimes they are committed to making a purchase of a product in your category. They are a “sale ready” audience.
It is for this reason I often recommend people start with AdWords as a means to advertise digitally, learn, and perhaps later use Facebook.
Irrespective of the platform choice, following are the 12 things that make sense to me that you should consider as you start on the digital advertising journey.
- Learn about the platforms, at least in principal, so you understand the stuff told to you by so called experts, and are in a position to ask intelligent questions.
- Start small, figure what works, and expand along the best path, always being prepared to adjust as you learn more. Having a plan, and ensuring the plan is captured in a detailed brief is essential, even if you are doing all the work yourself.
- Tracking and metrics. Before you start, know the source of visitors to your website, and track the changes that occur after the ads are placed. The huge change that has occurred with digital advertising is that we can now answer the question “which half of our advertising is wasted.”
- Define those you want to reach, in as much detail as possible. There are many different, although overlapping audiences you can target: current Facebook fans, and their friends, your current mailing lists held in whatever form they may be, visitors to your website, your competitors customers and friends, (particularly Facebook) and “lookalikes” to any of the above. The choices in the platforms are pretty good, take the time to really understand the choices you are making.
- Build relationships with current customers/fans. We all know that it is easier to get more business from an existing relationship, whatever the form of that relationship, than it is to start from scratch and build a new one to the point where they are prepared to buy from you.
- Create “stickiness” and trust by offering free advice, content, and ideas, and advice, and in responding, do so on a personal level. Webinars, podcasts, lists, blog posts, all serve differing needs in the process and the old adage that you have to give a bit before you can expect anything to come back, still works.
- Understand the customer journey. Facebook particularly, but also Google, require conversion to a sale after the initial contact. To do that you need to provide access the offers, products and relevant information through a landing page process of some sort, leading to a shopping cart, or sign up form. At each point, the potential customer has to make a choice, “do I proceed or not?” and making that choice easy, to the point of automatic requires real understanding of their mindset.
- Landing page optimisation. The differences in performance of differing landing page copy and design is astonishing, so the optimisation of landing pages is a whole process, even an art in itself.
- Create the process before you place the ads. A very common common mistake is to place some ads, they often do not cost much, then when a response arrives, you start wondering what to do with it. Wrong way around. Have the process mapped out, with the follow up content written and the delivery sequences mapped out.
- Analyse and analyse. Obviously having the right metrics to analyse is important, but tracking visitors, conversion rates, and the path a visitor takes to a transaction is enormously valuable in optimising the process. To some extent this is a repeat of step three, but the emphasis here is on the continuous improvement by testing and tweaking of the communication.
- Have a budget, and stick to it. Tracking conversion rates and the cost per conversion at each point in the customers journey as per the point above is vital. The opportunity to measure the conversion costs has never been greater, so make sure you do, and you give yourself time to correct the mistakes you will inevitably make.
- Rinse and repeat, to learn and improve.
You can pay someone too do all this for you, but even if you do, it is reassuring to understand the principals of the process. Most small businesses are careful with the pennies, so making the effort to understand where your money is going, and how to maximise the impact gives the confidence to make the commitment.
May 6, 2015 | Branding, Marketing, Small business
courtesy Hugh McLeod
20 years of working with small businesses and it seems the attitudes to marketing have not changed much.
Most recognise the change in the tools. They seek to engage with social media by being “on facebook” and “Liking” a few people, having a few Apps and sharing photos on their phones, and many have a website that is little more than an electronic brochure at best. The list goes on a bit, but the reasons for this lack of recognition of the importance of marketing have a very few, but very common roots.
Founder focus. Most founders come from a specific background, engineering, accounting, bricklaying, and they are good at it, focus on it, and seek to provide service by doing it better, more often, they often see just lots of one sort of tree, rather than a forest.
Where is the money? The limited funds small businesses have are generally allocated against the specifics they understand and need to build a businesses. T
o continue the analogy, an better computer system, bigger truck to carry the building materials around, things that relate to the core reason for being in business, not this fluffy ill defined marketing stuff. Besides,” I have a website, and it does nothing for me”.
Everyone’s a marketer. Probably the deepest, darkest hole. Everyone knows a kid who can set up their devices and do a website for them, or they edited the school magazine so know how to write and edit copy, the summer intern “knows” social media, and the flaky new age couple down the road know all about the new stuff ‘happening”. God save me from pretend marketers, but they are cheap, if not free, and usually make an unholy mess.
This will sell itself. The product is so good, all we have to do is make it available. How often have I heard that old furphy?
Better do something! And the last, often literally, reason marketing pops onto the radar is a recognition that if nothing changes, the “cleaners” will arrive. “We are suffering, better do something, maybe marketing is the answer”. Too little too late, and there is often insufficient money left to make a difference.
Sad but true for way too many.
What have I missed that you have seen?
The right way to go about all this is to recognise that everyone must be in marketing from day one, weather they like it or not, it is an investment in the business, no different to the truck, or computer system necessary to deliver the service you offer.
May 4, 2015 | Change, Governance, Personal Rant
FEATURES: DT FEATURES – Warren Wed illo, 11.05.11.
A business that does not make money will not be around for long. While money is just the mechanism to count success, or failure, the lack of it is terminal in every case.
Well, every case but one.
Government.
They just keep on putting it on the national credit card, building debt to garner approval and votes.
As we approach the 2015/16 budget the blathering goes on from both sides of parliament, with occasional irritating rejoinders from the peanut gallery.
It is easy to poke fun at the pollies, and to be utterly cynical about their motives. Their collective and often individual behavior and demeanor make that cynicism almost mandatory, and it seems to make us feel better. However, it rarely adds any value, as the real issues become clouded by rhetoric, blathering, bullshit, and outright, bald faced lies.
Where are the facts, the data to support the various notions put by various interest groups?
We call ourselves the lucky country, as we are.
Supported as we have been particularly in the last 30 years by continuous growth, which we largely put down to the luck we had in being in a place well stocked with resources, but the worm seems to be turning, and we have little wriggle room.
Unlike a business, where the sustainability of the business relies on commercial decisions, and the impact collectively they have on their budgets, the sustainability of the Australian budget seems to rely on our political sustainability.
Up until the last few years we have a pretty good record, but the last few, powered by the fragmentation of the media and increasing ability of individuals to have a say and gather tribes of like minded people to their cause has changed all that.
I am concerned at the level of political unsustainability that seems too be evolving, and driven by that lack of a solid foundation, the sustainability of the national budget.
Roll on the May 12 crunch and hopefully after the debacle last year, there will be some sensible debate that adds to the political sustainability as well as to that of Australian small businesses, upon which the sustainability of the national budget relies.
Sorry, I have reverted to my Don Quixote mode, the chances of any of that must be almost zero.
May 1, 2015 | Customers, Sales, Small business
Design your sales process
Everybody in business is in one way or another, in sales.
After all, you do not make a living by giving stuff away, you actually have to sell it.
It is also true that not everybody will want your stuff, in fact, usually very few will want it, so the challenge is to find them, engage them, demonstrate the value, and then create a transaction.
All this takes time and effort, it will not happen by some sort of osmotic process, giving a bloke a sales folder, a car, and map no longer works, the sales process needs to be specifically designed to create the circumstances in which a transaction can take place.
35 years of designing them in one way or another has led to a few conclusions on the best way to go about it,
- Ensure you understand the buyer, and their buying processes. One size does not fit all, each will be different, and by whatever means you need to define their processes, pain points, and priorities so you can build messages that resonate.
- Design a detailed process. Given each prospect will be different, the process needs to be both robust and sufficiently agile to accommodate the nuances of each customer. Generally it will have a number of stages that fits the product you are selling. Office supplies will differ substantially from power stations, but the principal remain the same. Set the stages, and the triggers that move a prospect from one stage to the next.
- Develop a playbook for each stage. This will involve both the response to the persona of the prospect and delivering the type of content that they will respond to at their point in the sales cycle, the delivering the content in the most appropriate manner.
- Routinize the sales process. Like any process, a sales process is best if it works routinely, in a predictable and consistent way. Improvements then come from the anomalies and outlier things that pop up, and become very obvious simply because they are outside the norm. it may be a inquiry from a market you had never considered, or an idea on how to improve your product for a particular purpose, whatever, the sales process needs to make the odd thought obvious so it does not get missed in the welter of activity that occurs.
- Manage the metrics. Like any process, a sales funnel can be continuously improved, you can also ensure sales priorities are optimised, and KPI’s set and managed.
- Engage your sales force in the process design and ongoing improvements, and feedback loops. Over time as the process evolves and new sales people come along, to keep a sales process delivering it needs to be able to evolve at least as fast as the customers you are seeking to serve. Sales people come in many colours, like the rest of us, and managing any diverse group of people requires that they buy into the objectives of the strategies in front of them sufficiently strongly to resist the temptation to chase the new shiny thing.
None of this is easy, despite all the verbiage out there that seems to indicate it is. Designing an effective sales process takes time, effort, investment, and iteration. The good pat is that effective process design quickly pays for itself.
Apr 29, 2015 | Marketing, Sales, Small business
sales rule No. 1
Shut up!!.
I have been spending a bit of time recently helping develop and implement strategy in a very interesting start-up with an innovative, and potentially extremely valuable piece of Intellectual Capital. Even after doing this stuff for so long, there is always something to learn, and being involved with this process has brought home a lesson learnt a very long time ago about what works in sales and what does not
The founder is deeply, irrationally, in love with his product.
Usually this emotional attachment to the product is seen as a great thing, but it can be a bad mistake, as potential clients rarely share the attachment.
As a result in this case, when he finally gets to talk to someone who may have the need for such a product, he delivers a passionate diatribe about all the things the product, can do, will do, can be adjusted to do, and how it evolved. Little about how it can deliver value to these potential clients, little about the potentially substantial problem successfully addressed, and little in words the potential client would use to describe his current situation.
Yawn.
Asking questions, followed by listening intently to the answer, and reflecting that answer in another follow up question is the single best sales technique there is.
The best sales people I have ever seen always do surprisingly little talking.
If you are the seller, and you do more than 30% of the talking, you have probably failed, or will fail. You will not at first know much about the potential customer, what their problems may be, how they are currently solving the problem and what they might be thinking when you show them solution, so you need to find out.
Ask questions: even confronting ones,
Why did you take this call?
How are you solving this problem now?
What would it be worth to solve this problem quickly?
How would it feel…etc. etc.
Sales however is still a numbers game.
Not everyone, no matter how well qualified, will want or see the need for your product. So, have many sales conversations in parallel, having done sufficient research on your targets that you know them sufficiently well to control the conversation, so you do not have to do the talking.
Follow up religiously, but politely and respectfully. They may not have opened your follow up email or called you back for the 3 times you called, sometimes it means you have made not piqued their interest and will make no progress, and sometimes it is just that life can get in the way.
However, do not forget that the most important resource a small business has is their time, so you need to invest yours wisely, and your prospects will thank you or not wasting theirs.
