Jim's Marketing Blog

Marketing tips and ideas to help you grow your business

What’s your experience?

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Do you have companies you buy from or stores / places you visit, where they make spending money with them an enjoyable experience for you?

I’m sure you do, and this post will give you some of the reasons why you feel the way you do, when doing business with those rare providers, who “get it” when it comes to the business of business.

It will also give you some food for thought, about getting people to feel that way about spending money with you and your business.

The Apple experience

One of the best examples of the value of creating a great buying experience is The Apple Store.  Your experience, from the moment you enter an Apple Store until you leave, is deliberately designed to appeal to Apple’s core target market.  You will experience cleverly designed retail spaces, packed with beautifully designed products and staffed by people, who enjoy their job and love their products.  This creates an overwhelmingly enjoyable and positive experience.

At a time when other computer retailers have gone broke or seen profits drop significantly, the Apple experience has helped Apple Inc post record-breaking profits.  This, despite the recession and the fact that their products are often twice the price of PC-based alternatives.

The coffee experience

I was prompted to write this post, after going out for a coffee yesterday and seeing a wonderful example of the benefits of creating the right buying experience.  There were 2 coffee shops within the same part of the shopping mall I visited. One was a Costa Coffee and the other an independent shop.  I walked past the independent coffee shop and it was almost empty.  However, Costa Coffee was full downstairs and almost full upstairs too.

I have used the independent coffee shop before (they make great smoothies) and their coffee is great. Their coffee is also slightly less expensive than Costa Coffee.  However, their floorspace is over-filled with cold looking wooden tables and wooden chairs, which always makes it feel cramped.  Costa Coffee has a mixture of wooden tables and chairs, along with big, soft sofa’s / couches and comfy chairs that almost hug you as you sit down.  It looks and feels comfortable and welcoming.

What experience do you offer?

So, here’s the question: What kind of experience do you offer to your existing and prospective clients / customers?

Customer service is a key part of creating the right buying experience, (and developing a successful business in general), but it’s just one part of the experience.  For example, the people standing outside the busy coffee shop had no idea how well they were going to be served and those who ignored the independent coffee shop also knew nothing about the service there either.  In fact, the independent shop offers a much better level of service; especially if you have a young child with you as I often have, as they bring your order to your table!

The kind of positive, commercially valuable experience I’m talking about here, needs to penetrate your marketing, your delivery, your customer service, your design – everything.  If those beautiful Apple Stores I mentioned earlier were full of ugly products or the customer service was poor, it wouldn’t have worked for them.

Your employees are also a massive part in this development of a buying experience.  I bought my wife a new phone this Christmas and the lady that served me really did not want to be at work that day.  How do I know?  Because she told her colleague, when he asked her why she was so miserable looking!

When we look at improving business, I believe we need to look at the whole business – everything. We need to ensure that every element of our offering is consistent with creating the best buying experience possible.

What’s your take on this?

What do you think are the most overlooked areas, which let businesses down? What tips or ideas do you have, for people who want to create a better buying experience for their clients or customers?  Which companies do you think offer the best buying experiences and why?

Let’s work together and grow your business. To find out more click here!

 

Marketing tip: Get a wider spread of business!

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I have a simple, yet valuable piece of information to share with you today.  If you take this information and use it, it will help you build a strong foundation for your business AND help you avoid one of the most common, serious and avoidable business mistakes possible.

The challenge: A narrow spread of business

Many small businesses rely way too heavily on a small number of clients or customers, for a large percentage of their income.  This leaves them in a horribly exposed position.  It’s known as having a narrow spread of business.

You need to avoid putting yourself in this precarious position.  Here’s why.

OK, the obvious reason first: If a client that you rely heavily on for your income goes broke (or picks another provider), you could see your turnover suffer enormous damage in one foul swoop.  If you rely too heavily on that client, you could go broke – I’ve met many, many business people this has happened too.

I once asked a room full of businesspeople, on a show of hands, how many of them relied on fewer than 3 clients or customers for 50% of their turnover. Most of the room put their hand up.  I then asked if anyone relied on 1 client or customer for more than 50% of their business and around 30% of the room put their hand up.

But there’s a second, less obvious problem with relying on a small number of major clients for the majority of your revenue / turnover.  It gives them too much power over you, if they are aware of their importance to your finances.

In fact, I was prompted to write this post after speaking recently with a businessman, who went bankrupt last summer; due to the massive influence 1 client held over him and his business.

He had one client for his web design business, who was responsible for over 70% of his turnover.  Most of his employees worked exclusively on this one client’s portfolio of websites and associated work.  The client soon realised how big a part of this guys business they were, so they decided to renegotiate their fees.  They used their enormous influence to get all their work done for a peanuts and eventually, there was too little profit to make the project viable. The web design company owner then tried to renegotiate, but from such a poor position, he had no success.

Having already had to make 30% of his workforce redundant to accommodate the drop in income, he was no longer able to effectively service this major client (or his other clients) and in just 12 weeks he had gone broke.

An obvious answer to this problem? Not really!

On the surface, it seems there’s an obvious answer here. Just ensure that you have a larger number of clients, which you treat equally superbly; none of which are responsible for more than a moderate share of your business’ overall income.

However, here’s where it gets tricky and why so many intelligent businesspeople get caught out: In most cases, these ‘super-size clients’ were not super-size clients to begin with!

They were regular sized clients that developed a greater and greater requirement, until they slowly became a huge part of the income for the provider’s business. The danger here, is that this kind of thing often happens so slowly, that it’s a problem before you realise it.  It’s also pretty tough to see all that extra income flowing into the business and regard it as a potential problem!

The answer?

There’s nothing wrong with developing your clients, so that they become more financially valuable to your business. In fact, it’s a really good idea.  Just make sure you never over expose yourself, by relying too heavily on a few key clients.  Try and develop all your clients as evenly as possible and work on as even a flow of income through them as you can.

So, if you are currently too reliant on a small number of clients, I suggest you immediately focus your marketing efforts on developing additional sources of revenue for your business.  Only by having a wider spread of clients can you plan ahead with confidence.

Achieving bankable results!

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As regular readers will know, I’ve made a career out of helping businesses and entrepreneurs achieve measurable sales results.

Recently, I have started to use the term “bankable results” to refer to my style of marketing. This phrase was commented on by one of my readers and regular contributors, Robin Dickinson. So, I thought I would quickly explain to you, what I mean by focusing on bankable results. (Oh, and I have a question for you in a moment too!)

Bankable results

It’s great to meet interesting people at networking events.  It’s wonderful to have lots of traffic to your company’s site and tons of fans on Facebook or followers on Twitter.  However, the businesses I work with, and write this blog for, want to know how to transform their marketing efforts and hard work into MONEY.

They enjoy “being part of the conversation,” connecting with people and sharing ideas via social media; but they know that in order for their business to thrive (or even survive), they need results that they can take to the bank. That’s what I mean by bankable results.

As you are reading this, it’s safe to assume that you are interested in generating bankable results for your business.  I admire you for that.  For my part, I promise to share as much useful content as possible with you.

What’s on the outside counts too!

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This post is all about the importance of how you present and deliver your marketing messages.  Content may be king, but if that content is delivered inappropriately, no one will read it.

Here’s a recent example of what I mean.

I was emailed today by a company that wanted me to buy some software.  I could tell that from the subject line of their email.  However, I have no idea what their software does or even how compelling their offer was.  That’s because I never read their marketing message.

Why?

Because they emailed me using the free version of an emailing program, which inserted advertisements all over their marketing message.  It immediately drew my attention away from their marketing message and caused me to wonder why they were using such a low class way of marketing their services. After all, emailing software is not expensive these days.

I drew a number of immediate, negative conclusions about the company that was trying to market to me.  After all, how professional are they likely to be?  They have just shown me, (and everyone else on their list), that they either think it’s OK for pictures of semi naked women advertising online casinos to be plastered all over their messages, or they were too unprofessional to check first.  In either case, I was unimpressed.

My conclusions may or may not have been correct, but that’s not important.  What’s important is that the way they delivered and presented their marketing to me, caused me to ask myself questions about them that they could easily have avoided.

More importantly, and the reason for this post, I was unimpressed before I even knew what they were offering!

The way they chose to present and deliver their marketing was enough in itself, to ruin any chance they had of winning my business.  You might think that this is a rare example, but I see it many times every day.  All day long I see people, who make such a mess of how they present and deliver their marketing message, that their message never gets the oxygen it needs, in order to work.

Here are some very common examples:

  • People who email you marketing messages, without your permission. They just add your email address to their list and spam you.
  • People who cold call you, reading from a script, showing you no respect for your individuality or needs.
  • People who have never previously connected with you, sending you messages on Twitter, with a link to a sales page for their wonder product.
  • People who walk up to you at a networking event and give you a sales pitch, whilst looking over your shoulder, eyeing up their next ‘victim.’

The bottom line here, is that if we want people to take our marketing seriously, we need to create a powerful, professional impression.  We need to do everything possible to encourage them to trust us – and that includes the way we present and deliver our marketing messages, not just the content of those messages.

Are you prepared to shine?

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In many countries around the world, something interesting happens on TV and radio stations over the Christmas period.  The established TV and radio presenters take a break from work and are replaced by their less well-known colleagues.

As the a-list; newsreaders, weather people, broadcasters, DJ’s and announcers relax at home, the people stepping into their shoes are presented with an amazing opportunity.  They are given a shot at the big time – a chance to shine – a chance to showcase their talents to (in some cases) millions of people.

Some of the stand-ins grasp this opportunity with great success and go on to become a star.  They have prepared for this moment. They see this as THEIR time.  Others look ill-prepared; almost awkward.  They lack enthusiasm.  They look and sound like they have been forced to attend a really bad party.

Be a wise optimist

In business, there are opportunities around us all the time.  A chance meeting, an unexpected phone call, an email you were not expecting with an interesting offer, etc.  The thing is, we need to ensure that we not only spot these opportunities, but that we have readied ourselves to fully benefit from them.

An optimist expects the best.

A wise optimist expects the best and is prepared for when it happens!

It’s about the journey – NOT the money!

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The late, great Jim Rohn was the first person to explain the value of a journey to me.  Jim explained that making a million dollars was NOT about owning the money; it was about the journey.  As usual, Jim was absolutely right!

That’s because the kind of person we need to become, in order to create 1 million dollars worth of disposable income, is where the REAL value is.

The journey is what’s priceless – not the money

I am a very different person today, to the guy who grew up in a slum / ghetto surrounded by violence and destruction.  As a result of my personal journey, I am equipped with the tools that will ensure my son never has to see the things I saw as a kid.  By the time I was just 10 years old, I had witnessed 3 murders and at age 17, I was left for dead after being attacked by a gang armed with axes!

Thankfully, at the age of 21, I discovered the power of personal development and 7 years later, I was financially secure for life.

So, when you set your goals and targets for 2010, feel GOOD about putting a BIG financial figure at the top of your list!  Ownership of the money is fine, but the improvements you will have to make to your lifestyle and thinking is going to help you, and those you love, far more than the money.

Your life journey

What have been some of the key lessons you have learned, along your life journey thus far? Please take a moment to share them, so we can all benefit from your experiences.

What’s your opinion on this?

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Ever wondered why some blog posts get lots of comments and other posts get very few?

I have one post on this blog with almost 700 comments and others with just a few, so why does this happen?  Well, there are thousands of posts around the Internet, offering long lists of what to do in order to encourage comments; however, in my experience, it’s easier than that!

Here are what I have found to be the primary things to consider, if you want to encourage people to comment on your blog.

Ask for feedback

The first thing to do, if you want people to comment, is to ask them.  People like to know that their feedback is welcome.

Show you value feedback

There’s a world of difference between saying you want people to comment or share their feedback with you and showing you value their feedback.  A blogger who really values reader comments, gets into the comments section of the post and communicates with the people there.

I switched from using a website to using a blog exclusively for the comments. I ‘chat’ with just about everyone who comments here, so people can see for themselves that I am reading every comment and listening to them.

Make it easy for people to comment

In an effort to reduce spam, some bloggers force their readers to use what are sometimes called a captcha, before they can post a comment.  This is where the reader leaves a comment and then has to look at an image, with a series of heavily distorted letters or numbers, which they then have to enter into a box.  It’s a pain in the rear end and many people just won’t use them.

I also question how necessary captcha’s are for the average blogger. There are some amazingly powerful anti-spam plugings available, which will catch over 99% of all spam.

Leave the conversation open

If you write a blog post, which finishes by closing the conversation, you make it hard for anyone to find something to add.  I did this in yesterdays post, by finishing the post with a series of links (more on that in a moment.)  The post was intended as a resource rather than a conversation piece.  This is NOT the way to encourage comments, so try to use this approach sparingly, if you want people to give you their feedback.  I’ve only every used it a handful of times here.

In advance of today’s post, I wanted to be able to show you what happens, when a blog that gets regular comments breaks these rules.  So, I wrote yesterdays blog post in such a way that it did not ask for comments.  It also closed the conversation and ended in a series of links.  So, there was nothing there to respond to.

24 hours later, it’s attracted just 1 comment!

What makes you comment on a blog?

What things either encourage you to comment on a blog or stop you from wanting to comment?

Do you think the relationship you have with the blogger is important?

What about the ability to get your comments published immediately – rather than having them held for moderation?

A lot of my readers are bloggers, so your feedback here would be of enormous value to them as well as myself.  Please take a moment to share your feedback.

Marketing results in 2010

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Here’s a quick question: What kind of sales results are you expecting in 2010?

By the way, if you want great results, I’ve put links to dozens of powerful ideas at the foot of this post for you!

I’ve worked with thousands of small business owners and studied thousands more and I’ve found that we are all creatures of habit, who tend to fit into 1 of the following 2 groups:

Group 1

Some of us habitually strive to achieve better and better results, by using increasingly effective marketing strategies and taking the actions required for sales and marketing success.  We know that whatever 2010 throws at us, we are masters of our own destiny and we look to the challenges of 2010 with excitement.

Group 2

These business owners habitually avoid change.  They prefer to stick with what they know, even if it’s not working.  As a direct consequence, they already know that 2010 will be a struggle.  Many have already decided to just sit tight and hope things will get better.  They look to 2010 with apprehension.

Thankfully, we each get to pick which of those groups we are in.

If you are in group 1 (and if you read this blog I am assuming you are), here are some marketing ideas to help you blow the lid off your potential in 2010:

Make a million – How leverage works in marketing

The importance of taking action

How to develop the right marketing mix for your business (Part 1)

How to develop the right marketing mix for your business (Part 2)

A list of 34 marketing tips and ideas

Here’s 10 of the most commonly used, effective, small business marketing activities

… and finally, here’s something for you to avoid – Marketing that makes you cringe.

The magic of keeping in touch

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Here’s a quick question: What is your attrition rate?  For those who have not heard the term before, your attrition rate, is the rate at which you lose customers or clients, (herein called clients.)

Your client base is being actively targeted by your competitors.  Your clients are receiving; mail shots, email marketing, advertising and all kinds of offers, from competitors who are desperate to win their business away from you.

Offering great customer service is essential, but if you want to keep their business, it’s also important for you to do the following:

  • Do whatever you can, to try and meet as many clients as you can, as often as you can.
  • Make sure you are in contact with ALL your clients, even those that you have not done any work with recently.  Your great customer service will soon become just a memory and you will slip off their radar, if you do not retain regular contact.
  • Pick up the phone from time to time just to see how they are.  Email is great, but voice to voice contact is far, far better. It’s an immediate 2 way dialogue.  I suggest never letting more than a few weeks go by without a chat, if at all possible.
  • DON’T TRY TO SELL THEM ANYTHING.  Just connect with them. Find out what’s happening in their world right now.
  • If you can’t regularly phone every client, email them something of value (see below.)
  • If you have a massive customer list, which it just too big to phone around, drop customers a line and ask for their feedback.  Don’t just broadcast your news to them.  Ask for their news too.
  • Oh, and think before using gimmicks!  A marketing guru once told his readers to send chocolate bars to their clients.  He was then slammed, after a number of them lost clients, who were diabetic or overweight and thought it was a bad joke at their expense!

Develop an attrition plan

Develop a simple attrition plan, which will ensure you remember to make regular contact with your clients.  In brief, you should try and do as much of it face-to-face as possible.  If that’s too hard, then use the phone, if you are dealing with many hundreds or with thousands of clients, start a customer-only newsletter.  Again, don’t fill it with sales pitches – that’s not good enough. They deserve better than that.  Share your news and ask for their news (that’s why its called a newsletter and not a salesletter) and make them a genuine, customer only offer in each issue.

The bottom line here is that the longer you stay out of contact with a client, the less relevant you become to them. The less relevant you become, the easier it will be for your competitors to win their custom from you.

Keep in touch and show them you care.

Other than offering outstanding customer service, what are your tips for retaining your clients / customers business?

Your customer base is under attack!

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In just a couple of weeks, your customer base or client base will come under attack!

Why?

Because January is when your most savvy competitors will launch their New Year marketing initiatives.  These guys are the one’s you need to watch out for, as they tend to do things very effectively, (it’s why I call them savvy.)  They will be targeting your existing customers and your prospective customers with the most attractive offers and deals they possibly can.

Many of your competitors will be working with professional marketing consultants and copy writers, who will have written powerful marketing material, to motivate your customers to join them.  This is especially the case, if you work in the business to business sector.  This marketing material will already have been written and is waiting to be sent or published.

Here’s the good news!

It’s not too late for you to do something about this.  It’s not too late for you to ramp up your New Year marketing.

However, if you have still not developed a marketing strategy, to retain your existing clients and win new ones, here’s the best advice I can offer you.  Reschedule your next call or meeting and get working on it immediately! If you don’t know what to do, talk to someone who does.

It’s that important.