Focus delivers productivity

Focus delivers productivity

Dec 10, 2018 | Governance, Management, Uncategorized

When you fail to focus, you are scattering your capital.

Most importantly,  you scatter the vital Intellectual Capital it takes to succeed, as well as the financial capital that is a vital enabler of success.

Limited resources need to be focused on the point where they will do the most good, generate the most leverage.

The familiar investment advice to spread your investments, ‘do not put all your eggs in one basket’ holds when you are a passive financial investor.

However, when you are an active investor, not just of your financial resources, but of your limited time and energy, it is better to follow Andrew Carnegie’s advice to ‘Put all your eggs in the one basket, then do not take your eyes off the basket’

This advice holds equally as you consider your long term plans, what outcome do you truly want, to planning your day today. Ask yourself ‘What is the one thing I really need to get done today that will take me one step closer to the goal’

As Confucius is reported to have said somewhere around 500 BC, ‘Every journey starts with a single step’. That advice is as valid in today’s world as it was then, so make sure you take that step every day, and that it is one step closer to the goal.

 

 

Anatomy of a sales effective website

Anatomy of a sales effective website

Dec 7, 2018 | Communication, Marketing, Sales, Social Media

People search Google for 1 of 2 reasons:

  • They have a problem to solve, they need information, guidance, options, and are looking for help in some form.
  • They are bored and too lazy to go and have a game of golf, tennis, or mow the lawns, so they look for cat photos to amuse themselves.

It follows therefore that if you are setting out to be of interest to those in the first group, it helps if they recognise quickly that you have something of what they are seeking. Any Google search will throw up multiple options for the searcher to have a quick look at.

Most times when an SME recognises the need for a website, they hire a web designer, and stand back and let them run.

Wrong strategy.

The technology of websites these days is largely commoditised, the 18 year old down the road can often do the ‘techie’ end of a site construction quicker and better than many of the ‘professionals’ around.

The challenge is the  marketing and graphic design of the site.  This is all about the combination of the words being not only the right words for the visitor, but in the right place so they get seen, and the graphic design that makes the site visually interesting and engaging, and importantly, makes some  sort of offer that leads towards the transaction.

The following has nothing to do with SEO, it assumes that you have been found, by one means or another, and your task is now to engage the casual visitor, and very particularly, that casual visitor who fits the profile of your ideal customer, in some sort of process that may lead to  a (first) transaction. The reality is that if you are not attracting your ideal customer, the whole exercise will be at best, sub-optimal. The objective should be to get these people to step through the site to a positive conclusion.

The natural progression of eyes across a website is outlined below, as they seek the answer to the question in their minds ‘Will I find what I am looking for here?’

 

The basic principal.

Top left, to right, across towards middle left, then back to bottom right.

All of this is ‘above the fold’. Many of the more recent sites have a ‘rolling’ architecture, but that does not  eliminate the old adage of ‘be above the fold’.

Let’s go into a little more detail.

The header.

The all important header, or headline, has to be specific, and deliver the value proposition that is directed towards the ideal customer, the answer to their question. Evolutionary biology plays a key role in the construction of the header. Our built in survival mechanisms register automatically the elements around us, is it dangerous, is it food, shelter, a potential partner, without us recognising at a conscious level these automatic choices. If your ideal customer registers in their ‘lizard’ brain that you are good for them, a significant part of your work is done.

The cost of failure.

Highlighting the pain points most likely to be felt by your ideal customer provides a barrier to them just moving on. The more you can highlight the problem they feel, the greater the chance that they will ‘stick’ on your site instead of moving on.

The Solution.

In the simplest words possible, how does your product/service solve the problem.

The plan.

Having established the ideal outcome, offer a plan, create the steps to achieve it. Making it easy to progress to the transaction and beyond by making the process transparent and easy is the equivalent of a ‘Close’.

Testimonials.

‘Social proof’ to use the psychological jargon is an extremely powerful tool. People, prepared to be identified and tell a listener how great  your product or service is, how it delivered for them, are better than almost anything else in closing a sale. Even if the video is a bit amateurish, that is OK.  get those testimonials.

Call to Action.

Make sure that you ask for the order, or the progression through the funnel to the next stage. Often asking several times lifts the closure rates significantly.

 

There is  no need for clever graphics or fancy advertising slogans. Your ideal customer is looking to see if you can help them, or if they should speak to one of your competitors. The task of your website is therefore clear, by presenting a credible way of solving their problem.

No fancy embellishments, industry jargon to establish your creds, unintelligible sentences, words of 5 syllables, just simple, clear, uncluttered communication.

Help them to help themselves!

Header: is a common  ‘wire-frame’ 

 

Anatomy of a successful sales letter.

Anatomy of a successful sales letter.

Nov 28, 2018 | Communication

My inbox is stuffed with sales letters, an outcome of 20 years of researching and engaging in a wide range of areas of interest to me, and those I work with, in an effort to distil the lessons to be passed on.

Some are very good, they move the hand towards the credit card, almost involuntarily, and some are just plain awful. Most are somewhere in the middle, OK, but generally no cigar.

A sales letter has only two  functions: to state why somebody should give you their business, and then to lead them to the next stage in the process, which is not always a transaction. Most often with a letter, it is simply to move you to the next point in the sales ‘funnel’

It should always be in the language of the receiver, and as personalised as possible, without  any spelling, grammatical, or any other type of error.

In other words, accuracy and clarity.

The flow of a sales letter is critical to success, and is a fairly well understood series of steps:

Headline.

The headline is the most important part of a sales letter. It is what someone sees first, and unless it engages in some way, they will move on. David Ogilvy, the original Madman stated that the headline was 80% of any ad, and a sales letter  is nothing but a form of advertising, a cheaper form of a sales person.

After the headline, which distils the reason why a reader should continue to read, there is a logical process which normally looks like the following:

Pain points.

Describe the problem in words that the potential customer will relate to and understand, personalising the pain, and demonstrating that you understand it. Do this well  and they will start to empathise.

Amplification and Aspiration.

Amplify the consequences of not solving the problem,  and offer a vision of what the feeling will be like when it has been solved.

Story.

Sales letters are really a story, and you have to tell the story of your solution, and how their problem can be solved, the means by which your solution will deliver them the outcomes to which they now aspire. People are not buying your product, they are buying the  outcome from buying your product. It is the old ‘drill and hole’ story. When you go to the hardware to buy a drill, it is not the drill you want, but the hole it will deliver you. Testimonials are powerful ways to demonstrate the outcome from purchase.

Offer.

A sales letter has to make an offer, it has to offer a conclusion to the story told, the problem solved. You have to be absolutely clear about what it is you want them to do, how and by when. Many sales letters I see shy away from being direct, but if you have not lost them at the beginning,  and they are still reading, there is a fair chance they are interested, so enable the interest by telling them what to do next.

You do not have to be a professional copywriter to produce a good sales letter, but you have to be very clear, concise, and empathetic. Not an easy task, but one which generally comes at the end of a process of understanding the value of your offer to a specific group of potential customers, or better still, a specific person.

 

 

 

 

What is the single source of competitive advantage in the 21st century?

What is the single source of competitive advantage in the 21st century?

Nov 26, 2018 | Governance, Strategy

Competitive advantage used to be about the sum of scale and the efficiencies that could be applied. Businesses like GM, GE, Exon Mobil, Wal-Mart all built scale and efficiency as the core of their success.

Our economies and institutions ran on the basis of scale and efficiency. Our political systems were fuelled by  the notion that those in charge accepted a moral obligation to be honest, tell us the truth, and act in our collective best interests for the long term.

Now things have changed.

Competitive advantage is now more about connections that deliver the scale. The planets biggest businesses, Apple, Amazon, Alphabet, Microsoft, Facebook and Alibaba, now have connections as the common element of their competitive advantage.

Over the weekend I heard Donald Trump in an interview propose that he had a ‘Platform’ in his followers on Twitter, Instagram and social platforms generally, that removed the need to rely on the institutions that had built the US. His platform was the people, he argued, with whom he now had a direct connection, independent of the institutions.

Love him or hate him, it is hard to disagree.

Equally, the Liberal wipeout in Saturdays Victorian elections will I suspect be sheeted back to the absolute lack of trust in the Liberal party generally, fuelled by the shambles in Canberra over the last decade. The Labor party should also be very careful, rather than crowing their success, as we trust them no more than the Libs.

It seems the foundation of the 21st century will be trust.

Hard won trust is easily lost, and very hard to win back.

As businesses and institutions build scale based on connections, those connections will be fuelled by trust. The absence of Trust will come to mean that your ability to build competitive advantage will be compromised. The strategic and marketing task of both public and private institutions, can be boiled down to the simple proposition that they need to be trusted, and that we, the great unwashed who vote with our feet, money and loyalty, require that they earn that trust, it will no longer be just given.

To reach that point, they need to build up the real evidence that they can be trusted, that they will act in our common interests before theirs, as distinct from the fluff and bullshit currently churned out by their publicity lackies.

As I look forward, I can see no driver of success more important than outlining a goal, articulating the route toward the achievement, then being held accountable for the actions that take us towards the goal.

In a word, trust.

Header photo: Christmas 1914 on the Western Front.

A retrospective on personal values.

A retrospective on personal values.

Nov 15, 2018 | Leadership

Years ago as a young product manager, I made two related mistakes.

Nothing huge, or threatening, just a stupid mistake that would have been avoided by a bit of due diligence, thought, and experience.

All three were missing, but what was there was the overconfidence of youth, an action for the sake of action mindset, a level of intoxication with the first trappings of corporate power, and perhaps a (big) touch of arrogance.

Second mistake I made was to try and dodge when the error was called out.

That second mistake created, in the space of 5 minutes, what has become the bedrock of my personal credo ever since.

  • Always take absolute responsibility when it is yours, or that of your team if you are the leader. We all make mistakes, those who do not are not doing enough, but only a fool makes the same mistake twice.
  • When you make a blue, if you are the first to recognise it, stick your hand up, tell everyone of the error, explain why it happened, and what you have learnt. This can be very uncomfortable, but when you point out your own blues, it leaves those who would hang you with very little rope.
  • When it is necessary to administer an arse-kicking, as it sometimes is, always, always, do it in private. Administering the kick in public adds humiliation to the mix, demeans you, and ensures that the kickee will never respect you again, and if they are any good, will leave quickly.

That incident was now 40 years ago, a lifetime, but I remember it as if it were yesterday, and have diligently lived by the three simple rules for all that time.