When we do the Duct Tape Marketing Kick Start Scorecard (the first step in creating an Ultimate Marketing Plan), we keep our eyes out of these Red Flags.
It’s a belief our client is basing decisions on, which we have learned time and time again may not be accurate. In other words, we are tricked into believing something that is not true. And therefore, we don’t get the results we want, or, at worst, we fail spectacularly! When we hear this, the Red Flags start waving in our minds:
Red Flag: I need to spend time with all our customers
We've had clients where only 2% of their customers match their Ideal Customer profile. In another case, 31% of a client's business came from 1% of their customers. In yet another, 1/3 of their customers were worth 300% more than the other 2/3. In these examples, 33% to 98% of executive time was actually being wasted.
Red Flag: We don't track our advertising response.
When we look at the actual numbers and return on investment, we find some interesting observations. Here are some examples: You spent $3,000 to get one new client. 99% of the people you sent flyers to did not respond to them in any way. Your newsletter advertising got no responses. In other words, why don't you take your advertising budget and buy yourself a boat; it's way more fun and will do your business just as much good.
Red Flag: Word of mouth is our best business-builder.
Oh come on! Your referral sources only generated 15% of your total income. And you haven't spoken to any customers once you've closed the sale.
Heard any Red Flags at your business lately?
Revolutionizing the way small businesses grow.
Friday, November 28, 2008
Find Your Core Difference
Last week we talked about Red Flags which is actually step 1 to Success in Your Small Business. Here's step 2.
Find Your Core Difference
When you talk about your business at a party, do people respond, "Wow! Tell me more about that?" Or do they escape and run to the shrimp dip?
If they don't say 'Wow! Tell me more', you need a powerful short phrase that lets them know you offer something unique and different - and don't worry, this doesn't mean you have to spend lots of money.
If your Core Difference reflects their single biggest frustration, you'll find they absolutely want to know more.
"I show small business owners how to save thousands on their IT costs."
"We create systems that make money for our clients while they sleep."
"We help business owners predict cash flow accurately."
"We make accountants absolutely indispensable to their clients."
Does your core difference make the impact you are looking for?
Tell us your stories.
Find Your Core Difference
When you talk about your business at a party, do people respond, "Wow! Tell me more about that?" Or do they escape and run to the shrimp dip?
If they don't say 'Wow! Tell me more', you need a powerful short phrase that lets them know you offer something unique and different - and don't worry, this doesn't mean you have to spend lots of money.
If your Core Difference reflects their single biggest frustration, you'll find they absolutely want to know more.
"I show small business owners how to save thousands on their IT costs."
"We create systems that make money for our clients while they sleep."
"We help business owners predict cash flow accurately."
"We make accountants absolutely indispensable to their clients."
Does your core difference make the impact you are looking for?
Tell us your stories.
Monday, November 17, 2008
I wish I could write copy as well as Bill, the painter
I was on the phone with a Duct Tape Marketing client one day last month, while Bill, the guy who is painting my new house, was working in the hall outside my office.
"Hey Liz," he said as he was ripping off the last of the bubble-gum pink wallpaper border off the wall at the top of the stairs, "you're in business. You should come to my BNI group."
Well, I already knew about BNI, so at 6:30 on the next Wednesday morning Bill picked me up and was my host for the meeting. Turns out that pretty much everyone who works on my house is a member!
I'll talk about that some more in a later post, because you haven't seen anything till you've seen the Power Group these guys have put into action.
Anyway, back to Bill. Next meeting, it was his turn to do a longer presentation about his business. He was nervous, and he's not Mr. Slick marketer, but his presentation was riveting. Here's what he said:
Hi, I'm Bill. Well, hey, you guys already know that. Right now, I'm workin' on a big job. 600 windows, real little ones. So I've got to scrape 600 windows. Then fill all the missing or crappy grout. Then sand 600 windows. Then put base coat on 600 windows. Then paint 'em. How many? Right. 600. When I go home at night I'm grouchy and I hurt. My back is killin' me. But hey - I'm the one that's hurting, right?
Point is, I'm Bill Clark from Top to Bottom Painting. You need me, 'cause I take the pain out of painting.
Man, we could SEE the pain in that job - and we got the point. Don't do it yourself!
Anybody who knows about selling, presenting, or marketing will tell you the same thing: if you want people to know, like and trust you, start with a story.
"Hey Liz," he said as he was ripping off the last of the bubble-gum pink wallpaper border off the wall at the top of the stairs, "you're in business. You should come to my BNI group."
Well, I already knew about BNI, so at 6:30 on the next Wednesday morning Bill picked me up and was my host for the meeting. Turns out that pretty much everyone who works on my house is a member!
I'll talk about that some more in a later post, because you haven't seen anything till you've seen the Power Group these guys have put into action.
Anyway, back to Bill. Next meeting, it was his turn to do a longer presentation about his business. He was nervous, and he's not Mr. Slick marketer, but his presentation was riveting. Here's what he said:
Hi, I'm Bill. Well, hey, you guys already know that. Right now, I'm workin' on a big job. 600 windows, real little ones. So I've got to scrape 600 windows. Then fill all the missing or crappy grout. Then sand 600 windows. Then put base coat on 600 windows. Then paint 'em. How many? Right. 600. When I go home at night I'm grouchy and I hurt. My back is killin' me. But hey - I'm the one that's hurting, right?
Point is, I'm Bill Clark from Top to Bottom Painting. You need me, 'cause I take the pain out of painting.
Man, we could SEE the pain in that job - and we got the point. Don't do it yourself!
Anybody who knows about selling, presenting, or marketing will tell you the same thing: if you want people to know, like and trust you, start with a story.
Friday, November 7, 2008
What's Your Story??
Many companies have interesting or even gut-wrenching histories. Tell your story in an open, honest and entertaining way, and you will win prospects’ hearts as well as their heads. The ability to connect by way of personal stories is one of the greatest advantages that small business possesses over big business.
The marketing story is an effective tool because it allows you to do several things that traditional marketing or advertising does not:
· Stories are an effective way to simplify a complicated issue.
· Stories can create emotion. People buy on emotion and rationalize their decision with facts.
· Stories are easier to remember because people can more readily relate to a story.
And most importantly… stories build trust.
The most effective marketing stories fall into one of six categories.
1. Who I am – stories that allow the potential customer to connect with who you are or who the company is
2. What I do – stories that communicate not only what your firm does but why
3. The vision – stories that paint a picture of a dynamic future
4. Values in action – shared lessons that expose the human side – both the good and the bad
5. I know you – stories that let the potential customer know you have walked in their shoes.
What is your marketing story and what is it saying about you?
The marketing story is an effective tool because it allows you to do several things that traditional marketing or advertising does not:
· Stories are an effective way to simplify a complicated issue.
· Stories can create emotion. People buy on emotion and rationalize their decision with facts.
· Stories are easier to remember because people can more readily relate to a story.
And most importantly… stories build trust.
The most effective marketing stories fall into one of six categories.
1. Who I am – stories that allow the potential customer to connect with who you are or who the company is
2. What I do – stories that communicate not only what your firm does but why
3. The vision – stories that paint a picture of a dynamic future
4. Values in action – shared lessons that expose the human side – both the good and the bad
5. I know you – stories that let the potential customer know you have walked in their shoes.
What is your marketing story and what is it saying about you?
Monday, November 3, 2008
Has the ship sailed without you? Six reasons you can’t afford to be left standing on the dock when it comes to the internet.
Has the ship sailed without you? Six reasons you can’t afford to be left standing on the dock when it comes to the internet.
Many small business owners originally were seduced with the notion that all they had to do was put a website online and wait for the phone to ring. When that didn’t happen, some became disillusioned and either left the web or left their website to languish.
The primary purpose of a website is to act as a tool to integrate and connect all your marketing communication and education. It allows your visitors to begin the task of more easily knowing, liking and trusting you.
Your website can educate, persuade and motivate your prospects to take action. But, a website also can provide a much richer set of benefits.
Awareness
These days you are expected to have a website if you are in business, and many prospects start their search for a new product or service online before they ever pick up the phone. This is even true of prospects who are referred to you.
Shortened selling cycles
In many cases, with a rich, content-driven website, your prospects may feel they can trust you before they even meet you. I have dozens of clients who found so many answers on my websites that they were ready to hire me in the minute I showed up at their office.
Access to your information
A website offers your prospects access to your marketing materials whenever they wish. You can and should save the contents of your marketing materials online and direct prospects to your website to acquire the information.
Tool to refer your business
A content-driven website allows referral contacts to share a great deal about your firm by simply directing others to your URL.
Automated distribution of marketing information
Promote the distribution of free or low-cost information and tools that allow your prospects to get to know you.
Ability to capture lead data
When people read an ad on a billboard, they may make a note of a service, but they may not need that service for months. By the time, your billboard is no longer in sight. One of the fundamental tools of a website is the ability to provide premium information in exchange for the visitor’s contact information. Once you capture this information (along with marketing permissions), you have the key to begin marketing to these prospects indefinitely, assuring that your products or services are at the top of their mind when it’s buying time.
Are you losing business by not having a website? A website today is as important as your business card. Have the site listed on all printed materials and include it wherever you can through out the world wide web.
Send us your success or failure stories about your website, let us know what works or didn’t work for you.
Many small business owners originally were seduced with the notion that all they had to do was put a website online and wait for the phone to ring. When that didn’t happen, some became disillusioned and either left the web or left their website to languish.
The primary purpose of a website is to act as a tool to integrate and connect all your marketing communication and education. It allows your visitors to begin the task of more easily knowing, liking and trusting you.
Your website can educate, persuade and motivate your prospects to take action. But, a website also can provide a much richer set of benefits.
Awareness
These days you are expected to have a website if you are in business, and many prospects start their search for a new product or service online before they ever pick up the phone. This is even true of prospects who are referred to you.
Shortened selling cycles
In many cases, with a rich, content-driven website, your prospects may feel they can trust you before they even meet you. I have dozens of clients who found so many answers on my websites that they were ready to hire me in the minute I showed up at their office.
Access to your information
A website offers your prospects access to your marketing materials whenever they wish. You can and should save the contents of your marketing materials online and direct prospects to your website to acquire the information.
Tool to refer your business
A content-driven website allows referral contacts to share a great deal about your firm by simply directing others to your URL.
Automated distribution of marketing information
Promote the distribution of free or low-cost information and tools that allow your prospects to get to know you.
Ability to capture lead data
When people read an ad on a billboard, they may make a note of a service, but they may not need that service for months. By the time, your billboard is no longer in sight. One of the fundamental tools of a website is the ability to provide premium information in exchange for the visitor’s contact information. Once you capture this information (along with marketing permissions), you have the key to begin marketing to these prospects indefinitely, assuring that your products or services are at the top of their mind when it’s buying time.
Are you losing business by not having a website? A website today is as important as your business card. Have the site listed on all printed materials and include it wherever you can through out the world wide web.
Send us your success or failure stories about your website, let us know what works or didn’t work for you.
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