Nov 20, 2014 | Communication, Customers, Marketing, Sales, Small business
Success these days is hard won, how do you go about winning your share?
Most progress of a sales prospect through the sales funnel happens with some sort of design in mind, rather than accident, even though the actual process is usually chaotic. As the one setting out to engage, there are things that need to be done to maximise the leverage that can be applied without exerting any “hard sell” pressure on a prospective customer, poison in this day of sales mobility.
There are three headline of questions that you can ask yourself, and then reflect the answers in the manner in which you communicate, in every way from the published ads, to the website, location signage, the words your staff use, and the way you follow up any contact.
What is your Share of Attention?
- The world we now live in is one where everyone is bombarded with messages almost every moment, from every imaginable device and location from the sophisticated and targeted offer on your own mobile phone to the ad on the back of the dunney door in the shopping centre. Those marketing their goods and services are in life and death competition just to get noticed, and extract the few seconds it takes for someone to skim a headline, and hopefully be sufficiently intrigued to take some action. Usually that action at the first point is just to read or listen to the rest of the message.
- Who is it for? Nothing can be for everyone, and but too often this simple and basic fact of marketing life is ignored. The targeted ad to a mobile phone number is way more challenging to assemble than the general ad in the dunney door which can only discriminate by gender. Gaining a share of attention of someone in the market for a new car has to involve recognising the personal circumstances of that person. Setting out to sell a two seater sports car to a lady with one child and another on the way is usually a waste of effort, better to focus on delivering a car that will meet her particular needs, more likely a 4 door sedan that fits her budget and preferences. The process of answering the question “who is it for” will always throw up uncomfortable choices. In days past, as someone who spent millions in advertising on the 80’s and 90’s, the typical target audience was something like ‘women 25-40, with children” It was about as good as we could do in those days, with a bit of U&A added. Nowadays, that broad description is so inadequate as to be laughable.
- How are you going to reach them, to create an awareness that you are in a position to meet their need or solve their problem, when and f it occurs. The tools of the web have been absolute game-changers here.
What is your Share or engagement?
- Why should a prospect be giving you some of their most valuable resource, their time? To be worthy of peoples time, you need to add value in some way to build a share of their brain, to get them to think about what it is you have to offer and how that offer can be of value to them.
- Why should they buy from you? In almost all cases, a buyer has options when it comes to buying something. Being clear about why the chosen vendor should be you is fundamental to getting the sale. To continue the analogy above, a car dealership that has some female sales personnel, and who have as a part of their marketing efforts a pick-up and delivery service from the local day-care centres is more likely to make the sale to our pregnant Mum than a dealership full of men emerging from the workshop with grease to the elbows, calling prospective female customers “Luv”.
- In sales with long lead time, there is a process that most prospects will go through, from initial awareness of a need through often several stages of engagement, before a sale can be made. Tactics vary through this sales funnel, but one thing remains consistent, the sale goes to those who are constantly working all points in the funnel, being available to the prospects, and . Perhaps the best salesman ever, Joe Girard who sold 13,001 new cars over a 12 year career in one dealership, a feat that sees him in the Guinness book of records. Joe not only never missed an opportunity to engage, and develop a relationship, and once you were on his radar, he created opportunities to speak to you, all in the days before the internet. Once you had bought a car from Joe, you got a post card about monthly from him, always thanking you for your business, congratulating you on a birthday or promotion at work, and offering help in some way. When it came time to buy Another car, Joe was the only salesman most people spoke to, as they knew him, trusted him, and understood he would be there for them.
What is your Share of Wallet?
- Share of wallet is an absolutely vital and often overlooked measure. When you have created a customer, ask yourself how much that customer buys over a period that you could supply. If they spend $1,000 dollars a year on products similar to yours, but you sell them only $200, your share of wallet is 20%. To continue the story of Joe Girard, he knew that the average time between new car purchases was about 3 years, so sales cycle his typical customers “wallet” was about $20,000 every three years, and he stayed in regular contact, so that when the purchase time came around, his share was high, I have been told as high as 60%. Given some people moved away, some died, and some just changed car brands for any number of reasons, that is an astonishing figure.
- Defining the wallet is usually a challenging exercise, what to include, what to exclude, and over what time frame. My advise is always to calculate the wallet over the average purchase cycle time, for cars, 3 years ago it was about 3 years, for refrigerators it may be 10 years, for womens fashion it may be a couple of months. A friend of mine, a professional woman shops almost exclusively at a particular retailer. They know her sizes and preferences, offer her an exclusive first look at anything new that comes in that they think she might like, deliver on a few minutes notice, collaborate with the shoe shop, and accessories retailers in the vicinity to ensure everything is matched, and do a number of other small things that ensure she simply has no reason to go anywhere else. I suspect their share of my friends considerable wallet is very high indeed, and they have defined it to include the things that go with their products, on which they make no money, but it adds to he service they provide.
None of this is easy, there are no formulas that work for every case, but there are general rules that can be applied. In addition, today, everything is measurable, every time you reach out to a customer or prospective customer you can measure the effectiveness of that action. Joe Girard would have been in hog heaven.
Nov 10, 2014 | Communication, Marketing, Sales, Social Media
courtesy www.copyblogger.com
Much of Email marketing has become a bit like the electronic version of the letterbox stuffing junk mail. Marketers are aggressively and creatively finding ways to collect email addresses, then directing traffic to the addresses in the expectation that a few will be opened, and a few of them will then lead to a transaction.
However, this misses the essential point that email marketing has in its favour. An email can be personalised and directed, just like a snail mail letter from the “old days”, it is just that most do not do the hard work necessary that puts in place the “necessaries” to get them opened.
To improve your open rate success, there are six things you need to do:
- Add value. An email that is just seeking to extract value from the receiver will not get much time given, usually it will be deleted assuming it gets through the spam filters. On the other hand, an email that explicitly sets out to add value to the recipient will have a way better chance of being opened and acted up on in a meaningful way.
- Be optimised for however the receiver wants to see you. Mobile is growing exponentially, so ensuring you are mobile optimised is a must do.
- Be personalised. When was the last time you opened an email directed at “Dear Mr Andrew Bloggs” or even worse, “Dear customer”? Been a while right? The email has to be directed to the person as if it came from their best mate, not some automating system. We may all know it is automated, but knowing and having it demonstrated by a stupid salutation are two different things.
- Be contextual. A personalised email is good, but if it is of no interest to the receiver, it will be discarded. Recognising the interests of the reviver in the subject line is immensely important. However, being able to do that assumes you know a lot about them, their interests, habits and lives. Without wanting to be at all spooky, it is possible to collect information on individuals and reflect that in the subject lines of the email.
- Be focussed in the subject line. You get a split second of a receivers attention when they first see the email. Typically people look at the subject line, if it is of interest, they usually look at who it is from, and if it is still of interest, may open it, or perhaps put it aside for a better time. Miss out on either of these two things, “interest”, and “who”, in that split second, and you have probably lost them.
- Measure and improve. The analytic options available that enable continuous improvement in open rates are myriad, often free, and your competition is using them, so there really is no excuse.
Of course, once the email is opened, the marketing game begins. When you need help with that, get in touch to access the StrategyAudit experience.
Oct 7, 2014 | Communication, Marketing, Small business
Over the weekend, my sister, a writer, called me a “blogging machine”, recognising the challenge of producing 3 or 4 worthwhile posts a week. Caught me a bit by surprise, because I just blog, write about what seems important to me, and that I think will be of interest to those that pay me the huge compliment of following and commenting.
However, her comment got me thinking, and I recall the mindset when I wrote the first post, back in March 2009, as reflected in the 1,000th post in August 2013. While I wondered how this would evolve, I tackled in that first stumbling post a thread that has been consistent throughout, the nature of the major challenges facing SME’s, as they set out to compete in an increasingly complicated world.
My sisters comment also follows a casual conversation at a recent SME networking meeting, where I had previously advised the bloke to whom I was speaking to add a blog to his website as a part of a strategy to establish his credibility amongst those who had found their way to the site. He was doubting the value of the advice, lamenting that there had been no result from the major effort he had made to blog.
More from curiosity that anything else, I checked his site and realised why there has been no impact, no business flowing .
3 posts only.
Pretty good posts, well thought out and presented well, but three? What did he really expect?
Reflecting on my experience with this arm of social marketing, here are the things my networking friend has to address, and the simple guidelines you should all at least acknowledge:
- Be prepared for the long haul, there is unlikely to be any impact quickly. I am reminded of a conversation I had years ago as I paid my way through university by slaving on building sites. An old brickie, someone who these days would probably be a professor of philosophy, described the difference between builders for whom he subcontracted as: “some can just see plan, and with luck follow it, the good ones understand the plan, can clearly imagine the completed building, and act with the completed building in mind”.
- Have a “tone” that is consistent, and reflects the person you are. Being yourself makes it much easier to be consistent at least.
- Have a clear purpose for the blog. This pretty much follows for any commercial activity, but is really important here. If you cannot meet the discipline of twitter, 140 characters, in articulating your purpose, you need to do more on distilling your thoughts. It is way harder than it appears, and I always refer people back to Simon Sinek’s wonderful TED talk for inspiration.
- Knowledge is attractive. The more you know about a topic, the better you will be able to write about it, and be relevant, entertaining, and add some value to readers. Fail here by being unoriginal, unclear, unattractive or unfocused, and the bounce rate on your site will be high, a factor Googles algorithms now take into account and punish.
- Follow your passion. Passion is to my mind the real competitive discriminator in this world of commodities, but is widely misused to the point of becoming a cliche. However, life without passion is pretty boring, and the last thing you want your blog to be is boring.
Call me if I can help get the ducks in line.
Oct 6, 2014 | Communication, Governance, Marketing, Social Media, Strategy
Seeking a simple metaphor to explain how SEO fits into a digital strategy to a “digitally challenged” client running a successful small business, I struck upon the map of the London Underground.
If you look at the map, there are stations on single lines, stations with several lines running through, and stations with multiple intersections, some to other networks outside the underground, busses and British rail.
At any time, there are people in various stages of a journey. Some are waiting on a platform, some travelling towards the underground entry and exit points, and some on a train going to some predetermined end point of their journey.
Imagine now that every person had a descriptive tag attached, which was stored waiting for a request about that person, that could be read, and communicated to anyone asking.
SEO calls this process of asking for a location and description as “Crawling” and “Indexing”.
Each piece of information, if it has been appropriately tagged, or described by the person putting it onto a site, is “indexed” by the search engines, and when someone types a search request into a box, the engine crawls through the indexed material and returns a link to the location and description of the item to the searcher.
Back too the metaphor.
Each person with the tag on the underground, can be found, and returns the requested information to the enquirer. Location, what they are wearing, who they are, what they look like, with links to others who may be with them, and where they are going.
There are just two dimensions to having an effective SEO strategy.
- Get the technical stuff right, and this can be really complicated, and to the novice, even many professionals, is challenging. Find someone you trust to get it done for you.
- Have a strategy and action plan, without which you will be lost irrespective of the quality of the SEO.
Back to the underground metaphor. You never (perhaps rarely, a late night can make a difference) climb onto an underground train without knowing where you are going, and what the best route is under the circumstances that prevail.
Why should it be any different for an SEO strategy?
Sep 30, 2014 | Communication, Marketing
www.hughmcleod.com
Many put forward the notion of “Engagement” as the objective of Social Media and web based activity, it crops up with the regularity of a hot dog seller at a big football game.
However, I have yet to see a definition of “engagement” that I am comfortable with. Sticking it in Google is no help, 374 million responses, most, probably predictably, about the lead in to marriage from rings to places to blow the house deposit on a reception.
Wether you are setting out to “engage” a potential customer on social media, have employees contribute some of their ideas and brainpower to the enterprise, or just having a casual conversation with someone, if “engagement” is what you are seeking, it will only evolve after one or more of several other things are in line:
- What you have to say is interesting to the other party.
- The other party or audience has a need or desire for information you can deliver
- There is something your audience wants from you
- There is a specific problem you can solve.
- There is the opportunity and desire for a two way flow of conversation
- You have met “the one”. This has nothing to do with this blog and its contents, but good luck to you.
“Engagement” has many meanings, and I suspect most would define it in the context of what they are seeking. For me, as a marketing professional, it means there is mutual value in some activity, from a simple conversation, to someone reading and commenting on this blog, to a collaborative effort with a colleague, to adding value to one of my clients. Whatever “engagement” means you, it is certain that there is a lot of other stuff to do first to build the foundations that make the interaction worthwhile, and offer the chance of becoming an “engagement”.
Engagement is an outcome, not a strategy, and successful strategies are always about doing something that matters, that makes a difference.
Sep 24, 2014 | Communication, Marketing, Social Media
Marketing is all about stories, the journey taken that the reader can identify with in some way. Blog posts are just short stories, by another name, and by following the rules of stories, can be more interesting, engaging, and ultimately, deliver a commercial result.
So how do you tell as story?
I have 4 kids, adults now, but as kids I read stories to them, regularly. This is not the same as making up a story as you go, and for a good storyteller, perhaps a cop-out, but the stories of others were usually more engaging than my top of the mind make-ups.
As they got a bit older, it became clear that each preferred a different type of story, and they seemed to fall into a small number of themes, always around a common “backbone” of a hero undertaking some sort of quest, confronting dangers and failure, then finding the only escape route, which was about to close, then revelling in the redemption.
The storylines around the backbone were:
- Rags to riches stories, these were favored by my boys. The protagonist drags himself from the streets to the heights, overcoming the disadvantages of injury, lack of education, or being abandoned in some way, and ends up giving back.
- The travelogue, the journey from A to B via the rest of the alphabet, with adventures and barriers at each letter.
- Tragedy, the hero saves someone from a fatal flaw of their personality or circumstances, and the difficult situations that flaw creates.
- The quest, which travels with the protagonist seeking a solution to an insoluble problem
- Beating the Demon, who keeps on coming back, and usually saving the damsel in the process.
- And finally, comedy. Funny but often sad things that happened, centred around peoples lives, shortcomings, and loves. I found that stories that were able to deliver a message with splashes of humour were always the ones that the kids remembered the best.
A great story, well told will be remembered, whereas a recitation of facts passes from memory quicker than an iceblock on a hot summers day.
