Jim Connolly Marketing

How to use fear as your compass

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marketing fear, fearless

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As a business owner, the fears you have are largely the same as your competitors. This presents you with an amazing opportunity for 2020 and beyond.

Really, Jim?

Yes. Really.

You see, when you avoid doing the things you fear, you also avoid doing the things your competitors fear.

In other words, whatever you’re avoiding, they’re avoiding too.

This means whatever it is, is going to be in very short supply!

Here’s why this matters to you and your business:

  • Lack of supply = scarcity.
  • Scarcity = value.

If you want your business to be in demand. If you want to get your business noticed. And if you want to avoid selling based on price (and you do), learn to embrace the things you fear.

Because that feeling of fear is often your inner compass, confirming that you’re on the right track.

So, does your marketing pass the coffee shop test?

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marketing, coffee shop

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Is logic ruining your marketing results?

Yes. Probably.

And here’s why.

Your prospective customers make purchasing decisions based on feelings. Not on logic. Understanding this principle is essential if you’re serious about growing your business in 2020.

Here’s a very quick example of what I mean.

  • People don’t visit coffee shops for the coffee.
  • They already have coffee at home.
  • They pay between 300% and 500% more for coffee at the coffee shop, because of how the experience makes them feel.

Logically, they’d save a ton of money by drinking their coffee at home, sitting in their own super-comfortable chair. But people, including your prospective customers, don’t make purchasing decisions based on logic. They make them based on feelings. (I explain how emotions drive decisions, here).

If your marketing message is based around a list of benefits, that’s way too logical. And it’s losing you a ton of money. Your service or product may be less expensive, more premium, faster or whatever. But are you explaining how it will make your prospective customers feel?

If not. Than start.

Because logic tells. But feeling sells.

Why a radically better approach is essential!

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marketing targets 2020, 2020 goals

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Note: I’ve never started a post like this before. I’m asking you to read this to the end, as it challenges some incorrect, common knowledge, which can seriously hurt your business results.

In today’s post, I’ll explain how to remove the barriers that currently hold you back from achieving the business success you’re very capable of. It’s based on a spectacularly effective process I use with my clients. And it can radically improve the way you think about the whole topic of success and achievement.

Now allow me to deliver on those hefty promises.

Ready?

Let’s go!

To start, I want you to think about something for a moment. Here it is: What are your business’s growth targets for the coming year?

Let’s now think for a moment about your targets.

In particular, why you chose to set those specific growth levels for your business. Because this is something business owners often (very often) get completely wrong. And it massively limits the potential of what they can achieve, before they even start.

I get to speak with business owners, all day, every working day of my life. It’s been this way since the mid 1990’s.

And…

Here’s what I see at this time, every year

You will have 2 similar-sized businesses, in the same city, serving the same marketplace, yet with drastically different targets for the year ahead.

  • One will aim for a 10% or 15% increase in overall growth, and a slightly higher increase in profits.
  • Another will aim for a 45% or 50% overall increase with a higher profits percentage.
  • The majority of the time, the business owner with the higher targets will out-perform their rival. And often by a very considerable amount!

This is something every business owner should find interesting.

Why? Because this huge difference in results happens, even when they have almost identical resources available.

Here’s the part where I challenge some common knowledge.

This may surprise you. But I’m not saying that by setting a high target, you’ll do X percent better. That’s not only too simplistic, it’s a totally wrong-headed approach, which usually backfires!

In my experience, we need to go a little deeper than that.

A radically better approach is required!

Here’s what we know: When a business owner sets a target, it’s usually based on (or just above) what they believe their business can realistically achieve. Their belief is what sets the target, not the other way around. That’s why setting yourself an unrealistic target, if anything, is counter-productive. If you’ve ever tried to fool yourself like this, you’ll already know you’re too smart to believe it, so it doesn’t work.

To paraphrase a popular motivational quote: “If you don’t believe it, you won’t achieve it”.

So, how do you set, and then genuinely expect to achieve, truly inspirational business goals?

Here’s what I’ve found keeps on succeeding

In working with business owners, I’ve seen amazing results by helping them identify why they believe that (whatever target) is probably the best they can realistically expect. This includes helping them determine why they think anything beyond that relatively low target is unrealistic for them. And the breakthroughs are amazing, especially if they’ve reached a bit of a plateau in recent years.

So, how does this help you achieve at such a higher level?

It looks like this.

  • When you have genuine reasons to believe, based on cold, hard facts, that you can absolutely achieve way, way better results, it dramatically improves the way you feel about the potential of your business.
  • This causes a likewise improvement in your decision-making, as it aligns with what you now know is absolutely possible for you.
  • This then leads to smarter marketing / business development activities.
  • Note: It also brings you massively more clarity and a matching increase in your motivation and energy.
  • And every business that makes smarter decisions and takes the actions required has to improve. It’s pure cause and effect.

Why not take a look at your targets for 2020 and determine if you’re setting yourself up for a spectacularly exciting year, or a re-run of 2019. If you’d like me to help you get it right, read this and get ahead of the masses who will wait until January.

One bad apple: The thing about influence!

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marketing influence

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Who influences you?

It’s impossible to connect with someone, without that person influencing you. Even a total stranger who smiles (or frowns) at you as they walk by, will influence what you’re thinking. They’ll also shift your focus, to a lesser or greater degree.

However…

By far, the greatest influence on how you think and how you feel, are those with whom you habitually associate.

The business impact of one bad apple

All it takes is one bad influence to screw up the dynamic of a wonderful, or potentially great, team.

I was mindful of this last week. I spoke with the CEO of a great, Chicago-based manufacturing company. He’s a former client, turned old friend. Anyhow, he wanted some advice. It turns out the son of one of their co-founders joined them as their new CFO in 2018. I knew them as a forward thinking company, respected in their industry for making some super-smart decisions.

That was then.

Today, things have changed.

It turns out the new CFO lacked vision and was exceptionally risk-averse. My former client explained that in just 14-months, the guy had dented morale, led to a number of good people leaving the company and caused them to miss out on what proved to be an outstanding opportunity, which was grabbed with both hands by a major competitor.

Thankfully, at the request of his own father, the CFO finally left the company. And the race is now on to get their rhythm back, so they can start moving forward and making things happen.

The lessons here?

I’m sharing this with you because it’s the second time in under a week, that I’ve had similar discussions with business owners about negative influence. From a business development perspective, you need to be extremely diligent regarding those you habitually associate with. In the above example, the co-founder’s son was so fear focused regarding growth, that others soon started to regard every opportunity as ‘a loss waiting to happen’.

Balance is important, for sure.

But when someone has the attention of the decision makers in your business, that person also has the ability to influence them, what they think (and therefore your results); either positively or negatively. This doesn’t just apply to fellow directors. It applies to anyone, who has access to you and your team.

It’s always worth questioning:

Who are you (and / or your team) listening to?

What have they got you thinking?

Are they influencing you positively or influencing you negatively?

Put a number on it

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marketing targets, numbers

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I have a very quick, yet powerful marketing tip for you today.

Decide what you want from your business, in all the key areas. Then, turn that want into a target, by putting a number on it.

You can’t hit a target that doesn’t exist

It’s ineffective to say you want more customers or you want to grow your business.

Why?

Because the thing you want is undefined. It’s non-specific. So, you can’t focus on it. However, as soon as you put a number on it, you have a target. And your target then allows you to make all future marketing decisions with clarity.

For example, there are things you’ll need to do in order to attract 4,000 new customers over the next 12 months, which you won’t need to do, if you only want to attract 40. The number is what gives you your target. And your target will then rule in, or rule out, certain strategies. It will also let you accurately measure whether you’re on track or not.

Here are just a few areas where you need number-based targets, in order to make the right decisions.

  • How will you know when you have enough money in the bank? Put a number on it.
  • How will you know when your business is valuable enough? Put a number on it.
  • How will you know when you are getting enough word of mouth referrals? Put a number on it.
  • How will you know when your business is retaining enough existing clients? Put a number on it.
  • How will you know when your profitability is high enough? Put a number on it.
  • How will you know when you have enough subscribers? Put a number on it.
  • How will you know when you have enough visitors to your website? Put a number on it.
  • How will you know when your professional network is large enough? Put a number on it.

Replacing general goals with specific targets makes all the difference. And if you are serious about absolutely smashing your targets, let’s talk about it.

Your marketplace is watching. Give them something to remember!

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Marketing, get noticed

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All of your clients (and prospective clients) have something in common. Something that you need to be aware of, if you want to market your business successfully.

It’s simply this: They notice things. Even the things they never mention to you.

For example.

  • They notice if you treat them like stars in order to get their custom, then treat them like numbers once you have it.
  • They notice if you promise their project will be delivered on schedule, but you’re late.
  • They notice if you’re more focused on what’s in it for you, than what’s best for them.

Thankfully it works both ways, because they also notice.

  • When you treat them like stars in order to get their custom, then treat them like superstars once you have their custom.
  • When you promise their project will be delivered on schedule, then deliver their project (and your promise) on schedule.
  • When you’re more focused on what’s best for them, than what’s in it for you.

Here’s why this is massively important to your business

Not every client complains when they’re receiving a poor service. The vast majority say nothing. However, they’re highly likely to take their custom to a competitor.

Not every client says “thank you” when you’re delivering an outstanding service. However, they’re highly likely to remain your client and to recommend you to everyone.

People notice what you do. So do something worth noticing. And look for opportunities to do it every day.