Your friend on Facebook posts something about some topic. It doesn't have to be controversial. Maybe they've asked for advice on a specific product or service. You make a comment—something you'd say to your friend in private, maybe something rude or off-color. No harm no foul, right?
Let's do some math. I have a relatively small Facebook social circle—just 132 friends. I keep it small by choice, but the average Facebook user has about 500 friends. Depending on their age, they can have more—(younger skews bigger, older skews smaller).
One of my friends has 2,608 friends of his own. By making a comment on his post, my words and my thoughts have the potential to be shared with over 2,600 people, most of whom are strangers. Let's say I've made a derogatory remark about a person, a company, a product. It doesn't matter whether or not my post is factual. For many people, this one off-the-cuff post can mean the difference between using a particular service or buying a particular product. Social media is touted as being democratizing—it is, largely. But in any democracy, not only do we have rights, we have responsibilities.
Let's say that all 2,600 of this friend's friends read this post and my comment. Let's also say that four additional people, each with 500 friends of their own, commented on this post. Suddenly, my comments have reached nearly 5,000 people. That single comment that was made as either a joke or in the spirit of a private comment to a friend has exploded into a sphere of influence exponentially greater than I could ever have imagined.
As a business owner, you begin to see the impact a single negative comment can have. A majority of people, especially younger people, rely almost solely on social media for their product recommendations. As a platform for unfiltered, reliable feedback, it is unrivaled. But a single negative experience has the potential to spiral out of control. Before social media, word of mouth consisted of a small circle of people—physical influence was much smaller than virtual influence. And even if someone had a horrible experience with a company, they'd only share it with a small group over a short period of time. Social media (and the web in general) is permanent. It's the real permanent record your high school guidance counselor kept telling you about.
As a business owner who is also a member of society, your actions online can have far-reaching implications. Let's say you've made an off-color comment about some political or social issue. Using the same math, your single knee-jerk remark can define you to a huge number of people. Strangers. Customers. Potential employers. Your banker. You have no way of knowing.
The virulence of social media is akin to a pandemic. Once it begins, it's very hard to stop. Here are a few simple tips to help keep your business (and yourself) out of hot water online.
1. THINK BEFORE YOU POST.
Use the "Rule of Mom". Would you say what you're about to say if your mother was sitting beside you? Unless your mother is known for her colorful language or off-color remarks, this litmus test will usually guide you.
2. DAMAGE CONTROL MEANS YOU'VE SCREWED UP.
If your business is in the position where it needs to do damage control, or you're getting overwhelmed by negative comments, it doesn't mean the Internet is out to get you. It means something's wrong in your organization. Do a process walk, which follows your business through every interaction to help determine where things are breaking down. Your goal is to identify customer touch points. The first place to look for the breakdown is where your customers interact with your organization. Once you've identified it, fix it.
3. IF YOU WANT TO SAY IT, SAY IT IN PERSON.
Here's a novel idea—pick up the phone. If you have virtual friends, they likely started as physical friends. A comment on a Facebook post, no matter how witty or insightful, pales next to actually picking up the phone and spending twenty minutes catching up. If you must remain digital, private message them or send an email or Skype with them.
4. BEWARE THE SHARE.
We've all seen them—the ubiquitous cartoons or witty graphics. As a business person, simply sharing something implies complicity. For instance, if you share something about drinking heavily, no matter how funny or cute, you have the potential to gain that reputation simply by association. You are what you share—it's the reason why most people share things. It defines your interests, is in tune with your sense of humor, etc. Even on your private social media pages, you never know who's watching. I have friends who are clients, and I have friends who are friends with clients. Chances are, you do, too.
5. WITH FRIENDS LIKE THAT...
Facebook has a great feature that allows you to confirm what is placed on your timeline. Sometimes the comments that damn you are not the ones you make yourself. We have different types of friends, probably from different phases of our lives. The person we are now may be very different from the person we were in college, or high school. You wouldn't bring your college drinking buddies to a client meeting. Be selective about what you let onto your timeline.
6. CLEAN HOUSE.
With all of this in mind, what do you have right now on your Facebook page? Take some time and go through your timeline. Look at your videos and photos. Is the beer pong shot from college really how you want to present yourself?
The goal with this post is not to sanitize you. Part of what makes social media as vibrant as it is, is the individuality of the pages and the posts. If the video of you doing belly shots in Vegas is something that defines you, that's great. But keep in mind that the video may be doing just that—defining you. Once you connect with other people, you have little control over what happens next. Being aware and being cautious may not make you the most interesting person on Facebook, but it will definitely help keep you in business.
Marketing your business comes down to a single question - what does your customer need you to do? Award winning marketing and design expert Jeff Rosenplot offers practical, in-the-trenches advice for businesses of any size, and budgets to match.
Wednesday, July 31, 2013
Tuesday, July 23, 2013
The Three Bears Approach
The web is filled with marvelous and wondrous technology that changes and grows on a regular basis. How do you determine how much is too much for your clients?
Consider the Three Bears approach - you remember the story of Goldilocks and the Three Bears. The first bowl of porridge was too hot, the second too cold... you get it. When you're building or upgrading your website, the Three Bears approach comes down to three options—is it too much, is it too little, or is it just right?
Your customer isn't always Goldilocks. Sometimes your customer is Papa Bear. Sometimes it's Mama Bear. Each have different needs—hot porridge and cold porridge. There's no single "just right" approach.
As with everything in your marketing plan, the question of how much is too much is answered by your customer. A tech-savvy, youth-targeted site requires all the bells and whistles. Your customer expects it, and your competition provides it. If your market is older, or your clients aren't techies, you may not need as much techno-pop.
Here are three questions to ask that will help determine the level of wow required on your website:
1. What type of site are you trying to build?
Most websites are informational—an online brochure. They're a way to provide a way for prospective customers to contact you and to learn about your services, skills and those special things that set you apart. We call those "static websites". They're not necessarily "static" in the sense that there's no motion on them. Slideshows, videos, etc., can and should be a part of them. But the information is relatively constant, and users are required to contact you or visit your location to complete the transaction.
Dynamic websites can include e-commerce sites (where you're selling products or services online), video upload sites, etc. These are more robust and are designed for continuous engagement with the user. Similar information to a static site is available, but the main thrust is some form of ongoing interaction.
2. Who is your customer?
Age is often the determining factor when asking this question, but not always. Younger customers are more likely to want to make a purchase online (if appropriate), but older customers (including senior citizens - surprise) will also use these types of sites. The more appropriate question to ask is, what does your customer expect to be able to do with the site? If you sell a product or service, does your customer expect to be able to order it online and have it delivered or confirmed without having to make a phone call? Or are customers using your site to gather additional data or comparison shop prior to making an in-person purchase or acquisition of services? Ask the question from your customer's point of view, not yours. You may not have considered selling goods online, but your customer may need that.
3. Who is your competition?
This is a trick question—your competition is everywhere. Don't just look at the shop down the street—look world-wide. The web has opened up competitive markets you may not know exist. Being aware of what your competition is doing will help you determine what you need to do. It can also give you research into new customers you may not have thought about. Competition isn't a bad thing. At least, if you stay competitive.
Building a website properly from the beginning will allow you to develop it for current-state as well as future-state. The web constantly changes. New technologies emerge and new standards are introduced. Examine your site regularly. Look at your competition. Ask your customers what they want to see. They'll be your best judge. And listen to them. Developing a higher-end website than you currently have may cause you to incur an expense, but not doing so means you're losing customers. And what's the cost of that?
Consider the Three Bears approach - you remember the story of Goldilocks and the Three Bears. The first bowl of porridge was too hot, the second too cold... you get it. When you're building or upgrading your website, the Three Bears approach comes down to three options—is it too much, is it too little, or is it just right?
Your customer isn't always Goldilocks. Sometimes your customer is Papa Bear. Sometimes it's Mama Bear. Each have different needs—hot porridge and cold porridge. There's no single "just right" approach.
As with everything in your marketing plan, the question of how much is too much is answered by your customer. A tech-savvy, youth-targeted site requires all the bells and whistles. Your customer expects it, and your competition provides it. If your market is older, or your clients aren't techies, you may not need as much techno-pop.
Here are three questions to ask that will help determine the level of wow required on your website:
1. What type of site are you trying to build?
Most websites are informational—an online brochure. They're a way to provide a way for prospective customers to contact you and to learn about your services, skills and those special things that set you apart. We call those "static websites". They're not necessarily "static" in the sense that there's no motion on them. Slideshows, videos, etc., can and should be a part of them. But the information is relatively constant, and users are required to contact you or visit your location to complete the transaction.
Dynamic websites can include e-commerce sites (where you're selling products or services online), video upload sites, etc. These are more robust and are designed for continuous engagement with the user. Similar information to a static site is available, but the main thrust is some form of ongoing interaction.
2. Who is your customer?
Age is often the determining factor when asking this question, but not always. Younger customers are more likely to want to make a purchase online (if appropriate), but older customers (including senior citizens - surprise) will also use these types of sites. The more appropriate question to ask is, what does your customer expect to be able to do with the site? If you sell a product or service, does your customer expect to be able to order it online and have it delivered or confirmed without having to make a phone call? Or are customers using your site to gather additional data or comparison shop prior to making an in-person purchase or acquisition of services? Ask the question from your customer's point of view, not yours. You may not have considered selling goods online, but your customer may need that.
3. Who is your competition?
This is a trick question—your competition is everywhere. Don't just look at the shop down the street—look world-wide. The web has opened up competitive markets you may not know exist. Being aware of what your competition is doing will help you determine what you need to do. It can also give you research into new customers you may not have thought about. Competition isn't a bad thing. At least, if you stay competitive.
Building a website properly from the beginning will allow you to develop it for current-state as well as future-state. The web constantly changes. New technologies emerge and new standards are introduced. Examine your site regularly. Look at your competition. Ask your customers what they want to see. They'll be your best judge. And listen to them. Developing a higher-end website than you currently have may cause you to incur an expense, but not doing so means you're losing customers. And what's the cost of that?
Friday, February 1, 2013
The Rules of Social Media
Contrary to popular myth, even the Internet has rules. Social media is no exception. As a business operating a social media page, you have the ability to either effectively increase your market reach—or do irreparable harm. Here are the basics on the do's and don'ts of operating a business social media page.
1. KNOW YOUR MEDIA TYPE
Facebook is very different from Twitter. Pinterest and Google Plus are also unique. LinkedIn is a totally different animal. It's like talking to people from different parts of the country. There are ways of doing things and presenting information that varies between all social media venues. Twitter has a character limit - the most effective posts on Twitter are brief. Twitter users are used to brevity. They don't want you to be wordy. Facebook is more conversational. Facebook is relationship-based. Google Plus is similar. Pinterest is essentially a photo sharing showcase, so it's much more visual. LinkedIn is the professional social network—largely underutilized by businesses. There are literally thousands of social media venues. Each has its own vernacular. It's important to learn the dialect before you try to fit in.
2. KNOW YOUR AUDIENCE
This is not only true for social media, but for marketing in general. Unless you know who you're talking to, what they're interested in, and what will turn them off, you can't create effective posts. What is of use to your audience? What will they be interested in seeing from you? They're choosing to follow you for a particular reason. Discover that reason and tailor your posts to them.
3. YOU'RE A GUEST IN THEIR SOCIAL MEDIA FEED
Just like going to a dinner party, you are a guest in your potential audience's house. They've invited you in because they want to hear more from you. Just like going to a dinner party, you need to bring something. The proverbial bottle of wine in this case is information. You need to establish yourself as the recognized expert in whatever you do. How do you do that? It's different for each industry, and for each social media page. Don't be looking to sell, at least not all the time. Unlike traditional advertising, you don't need a constant call to action. Your social media page (if designed properly) will have all the information necessary for a follow up. Provide information your users can use. Get in, get out, and don't annoy your followers. Short, clear, insightful posts will make you sound like you know what you're talking about. Because you're the expert.
4. IT'S A SOCIAL NETWORK
The goal in using any type of social media is to increase your reach virally. This means that your user likes your post enough to share it. Once it appears on your user's social media feed, all of their connections can see what you have to say. If their friends like you, and they share something informative that you posted, you will be much more likely to be followed by your users' friends. This is the goal. Social media is about making connections in new and unique ways. While it is possible to sell products via social media (and many businesses do this), it's not the primary focus. Social media is and should be used largely as brand building. Your goal should be to remain at the top of mind of your users.
5. CHECK YOUR SPELLING, GRAMMAR AND SYNTAX
There is nothing more distracting than a business social media post that contains errors. If necessary, get someone to proofread your posts before making them public. You may not care about spelling—but your users do. This one is a simple fix at which many businesses, usually small businesses, fail.
6. CREATE A POST SCHEDULE
Unless your posts are based on events that are happening in real time (and this is a good use of social media—keeping up with things in real time), you can put together a post schedule in advance. Facebook allows you to schedule your posts in advance using their Activity Log feature. If you can make use of this, and most businesses can, do it. It keeps your social media in motion without having to dedicate resources to posting at a particular time. When creating a post schedule, look at what your users need. Is your business seasonal? Look at a calendar to see key dates when people will be most likely to be thinking about your services.
7. MORE IS NOT ALWAYS MORE
Think about the junk email you receive as a business owner. Deleting messages from the same sender multiple times a day is not only a time waster, but makes you less likely to ever consider using that vendor. The same is true with social media. You don't need to blast your message out ten times a day. A well-written, well-timed post 3 or 4 times per week can do more good for your business than a bunch of desperate messages throughout a day. In social media, it's about quality, not quantity.
8. PLAY NICE WITH THE OTHER KIDS
Never, ever insult a client on your social media feed. Never, ever complain that no one's coming in to your shop today. And if you receive any negative feedback on your social media page (which is one of the reasons why you are engaging in social media activity—you want your users to get involved), never, ever argue with them. You have the ability in a public forum to solve the problem. Recognize that you have an audience watching you. Most customers will remember the problems they had if you don't immediately make it right. It's always worth giving a little to make the customer feel they were heard. And don't take anything personally. This is business, not personal. Leave the attitude at home. And finally, no matter what, don't complain about your customers or your business on your personal social media. Once it's out in the world, you can't get it back.
Effectively managing your business social media can be a full time job. You don't have to have a presence on every single venue. Start with your customer—what do they want you to do?
1. KNOW YOUR MEDIA TYPE
Facebook is very different from Twitter. Pinterest and Google Plus are also unique. LinkedIn is a totally different animal. It's like talking to people from different parts of the country. There are ways of doing things and presenting information that varies between all social media venues. Twitter has a character limit - the most effective posts on Twitter are brief. Twitter users are used to brevity. They don't want you to be wordy. Facebook is more conversational. Facebook is relationship-based. Google Plus is similar. Pinterest is essentially a photo sharing showcase, so it's much more visual. LinkedIn is the professional social network—largely underutilized by businesses. There are literally thousands of social media venues. Each has its own vernacular. It's important to learn the dialect before you try to fit in.
2. KNOW YOUR AUDIENCE
This is not only true for social media, but for marketing in general. Unless you know who you're talking to, what they're interested in, and what will turn them off, you can't create effective posts. What is of use to your audience? What will they be interested in seeing from you? They're choosing to follow you for a particular reason. Discover that reason and tailor your posts to them.
3. YOU'RE A GUEST IN THEIR SOCIAL MEDIA FEED
Just like going to a dinner party, you are a guest in your potential audience's house. They've invited you in because they want to hear more from you. Just like going to a dinner party, you need to bring something. The proverbial bottle of wine in this case is information. You need to establish yourself as the recognized expert in whatever you do. How do you do that? It's different for each industry, and for each social media page. Don't be looking to sell, at least not all the time. Unlike traditional advertising, you don't need a constant call to action. Your social media page (if designed properly) will have all the information necessary for a follow up. Provide information your users can use. Get in, get out, and don't annoy your followers. Short, clear, insightful posts will make you sound like you know what you're talking about. Because you're the expert.
4. IT'S A SOCIAL NETWORK
The goal in using any type of social media is to increase your reach virally. This means that your user likes your post enough to share it. Once it appears on your user's social media feed, all of their connections can see what you have to say. If their friends like you, and they share something informative that you posted, you will be much more likely to be followed by your users' friends. This is the goal. Social media is about making connections in new and unique ways. While it is possible to sell products via social media (and many businesses do this), it's not the primary focus. Social media is and should be used largely as brand building. Your goal should be to remain at the top of mind of your users.
5. CHECK YOUR SPELLING, GRAMMAR AND SYNTAX
There is nothing more distracting than a business social media post that contains errors. If necessary, get someone to proofread your posts before making them public. You may not care about spelling—but your users do. This one is a simple fix at which many businesses, usually small businesses, fail.
6. CREATE A POST SCHEDULE
Unless your posts are based on events that are happening in real time (and this is a good use of social media—keeping up with things in real time), you can put together a post schedule in advance. Facebook allows you to schedule your posts in advance using their Activity Log feature. If you can make use of this, and most businesses can, do it. It keeps your social media in motion without having to dedicate resources to posting at a particular time. When creating a post schedule, look at what your users need. Is your business seasonal? Look at a calendar to see key dates when people will be most likely to be thinking about your services.
7. MORE IS NOT ALWAYS MORE
Think about the junk email you receive as a business owner. Deleting messages from the same sender multiple times a day is not only a time waster, but makes you less likely to ever consider using that vendor. The same is true with social media. You don't need to blast your message out ten times a day. A well-written, well-timed post 3 or 4 times per week can do more good for your business than a bunch of desperate messages throughout a day. In social media, it's about quality, not quantity.
8. PLAY NICE WITH THE OTHER KIDS
Never, ever insult a client on your social media feed. Never, ever complain that no one's coming in to your shop today. And if you receive any negative feedback on your social media page (which is one of the reasons why you are engaging in social media activity—you want your users to get involved), never, ever argue with them. You have the ability in a public forum to solve the problem. Recognize that you have an audience watching you. Most customers will remember the problems they had if you don't immediately make it right. It's always worth giving a little to make the customer feel they were heard. And don't take anything personally. This is business, not personal. Leave the attitude at home. And finally, no matter what, don't complain about your customers or your business on your personal social media. Once it's out in the world, you can't get it back.
Effectively managing your business social media can be a full time job. You don't have to have a presence on every single venue. Start with your customer—what do they want you to do?
Tuesday, December 11, 2012
Customer Repellent - Get Yours Today!
Marketing your business is one of those things everyone thinks they can do, and most people fail miserably when attempting. I call bad marketing decisions "Customer Repellent". Here are the most common mistakes made when trying to market your own business:
1. DOING IT ON THE CHEAP
If you're starting a business or launching a new product, a significant portion of your cost will come from marketing. There's no way around it. No matter what you do or what you're promoting, you have competition. It's either the guy down the street, the big box store, or the Web. Whatever you think is an appropriate marketing budget, triple it. Your marketing budget should be anywhere from 30-65% of your total startup cost. This money will be spent doing both brand building and targeted marketing.
2. SELLING TO YOURSELF
Unless you have the ability to clone yourself in order to create a market for your product or service, what you like and what appeals to you is not likely what appeals to your potential customers. Know your customer - intimately. What motivates them? What else do they like to do? Who is your competition and what are they doing to target your customer?
3. BE THE SPOKESPERSON FOR YOUR COMPANY
Unless you are a trained voice actor or have a "voice for radio", don't do your own commercials. We've all heard them - the painful, uncomfortable local spots that make you cringe. Car dealers are especially guilty of this. You aren't the brand - you're damaging your business by insisting to be the voice. Radio stations offer their on-air talent free of charge. Use it.
4. I CAN'T SPELL - SO WHAT?
While especially true for social media, spelling and grammatical errors run rampant in small business promotion. Remember that most of the public can speak English properly. They are acutely aware of spelling and grammar errors. If you aren't a good speller or if grammar eludes you, don't attempt to sound it out. This holds true for signage, advertising copy, in-store printed flyers and anything else.
5. I NEED SOMETHING NOW
Marketing is often one of the last things a new business owner thinks about. Developing a strategy becomes secondary to getting the business open or the product launched. Keep in mind it will cost you much more money later to fix a slapped-together website and marketing campaign than to do it right the first time. Again, be prepared to spend money. Having a strong strategy out of the gate will increase your likelihood of success.
6. THE NEWSPAPER DESIGNS MY ADS FOR FREE, AND THE YELLOW PAGES IS BUILDING ME A WEBSITE - ALL FOR FREE!!!!
While many media venues will offer design services as a "loss leader" in order to get small businesses to spend money with them, your entire brand identity will be inconsistent if you use multiple designers who have no contact with each other. It's not always a question of bad design - it's about consistency. What is the customer experience you are providing? If it's all over the place, you're losing customers.
7. YEAH, WE'RE RUDE - SO WHAT?
Marketing isn't just an ad in the newspaper. From the moment a customer walks through your door, contracts for a service, or calls you on the phone, you have the ability to either keep them or turn them away. One of the most ignored pieces of the marketing puzzle is customer service. An attentive and friendly sales staff, a prompt reply to an email, a quick return phone call - all of it goes a long way. The customer is rarely right - we all know that. But the customer has the power in the relationship. It's much less expensive to keep a customer than to create one.
Customer repellent comes in many different shapes and sizes, and can be customized for your business. Its potency is only limited by your ability to ignore your customer, and ignore the basic rules of marketing. Get yours today - supplies are unlimited.
Tuesday, November 27, 2012
Back To Basics
We all know the saying, you can't see the forest for the trees. That adage applies to your marketing strategy. Sometimes we get so wrapped up in the micro details, the bigger picture gets lost. Stripping down your marketing plan to its basics can help you see what's working, and where you're going wrong.
WHO ARE YOU TALKING TO?
The single biggest mistake made by businesses in regards to their marketing strategy is marketing to themselves. Marketing is all about having a conversation with prospective customers. Look at it like a dinner party—if you're the person who spends the evening talking about what you like, what you're comfortable with, and what appeals to you, you will lose your audience. Who is your customer? Are there new customers out there you're not hitting? What do they want to talk about?
IT TAKES MONEY AND TIME
No matter what you do in regards to marketing, you will be spending money. Often lots of money. A large percentage of what you spend won't have a direct cost-value relationship. Brand building, the type of marketing that gets your name in front of your potential customers without selling a particular product or service, is long-term. You didn't build your reputation with your current customers overnight. You won't do it with new customers in that timeframe, either. This is called "top-of-mind recognition". You need to be the first company your potential customer thinks of. Brand building is measured in months and years. Targeted marketing, things like sales or events or promotions, have a more immediate return. Keep in mind, however, that a sale involves a loss-leader product or service. An event involves expenses you might not foresee. All businesses, markets and strategies are unique—however, a good ratio of branding versus targeted marketing is 5:1. You want to build your reputation at least 5 times more often than you want to have a sale.
WHAT ELSE DOES YOUR CUSTOMER DO?
Knowing your customer, and your prospective customer, allows you to speak to them on their terms, and in the places where they are. Things like social media, television, radio, movie theater advertising, gas station pump advertising, newspaper, magazine, bus sign advertising, etc., all have value only if your customer sees them. What does a typical day look like for your customer? A typical month? What are their habits? We paint with a broad brush in marketing. Each element of your strategy should work together. Don't put all your eggs in one basket, unless your customer dictates that. Follow your customer and you can't go wrong.
HAVE A ROAD MAP
If you don't know where you're going, you can't get there. If your goal is to increase sales of Product X by Y%, simply blasting your message out to the world without a plan and without measurable metrics is a waste of your time and money. Set your goals and build a map to get there.
STAY THE COURSE
When you've developed your plan, stick to it. Review it regularly, make necessary course changes, but don't scrap it without good reason. An effective, well-developed strategic plan will be a combination of quality customer intel and solid market knowledge. Make media buys that work for you and your customer, not what works for the media company. Newspaper advertising is ideal for certain demographics, a waste of money for others. The same goes for television, radio, and all other venues. If you've done your homework, your customer will tell you where to advertise.
Marketing is a marriage between the science nerd and the trendy art student. Understanding the strategy behind it, and building the creative element to support that strategy, will help your company grow.
WHO ARE YOU TALKING TO?
The single biggest mistake made by businesses in regards to their marketing strategy is marketing to themselves. Marketing is all about having a conversation with prospective customers. Look at it like a dinner party—if you're the person who spends the evening talking about what you like, what you're comfortable with, and what appeals to you, you will lose your audience. Who is your customer? Are there new customers out there you're not hitting? What do they want to talk about?
IT TAKES MONEY AND TIME
No matter what you do in regards to marketing, you will be spending money. Often lots of money. A large percentage of what you spend won't have a direct cost-value relationship. Brand building, the type of marketing that gets your name in front of your potential customers without selling a particular product or service, is long-term. You didn't build your reputation with your current customers overnight. You won't do it with new customers in that timeframe, either. This is called "top-of-mind recognition". You need to be the first company your potential customer thinks of. Brand building is measured in months and years. Targeted marketing, things like sales or events or promotions, have a more immediate return. Keep in mind, however, that a sale involves a loss-leader product or service. An event involves expenses you might not foresee. All businesses, markets and strategies are unique—however, a good ratio of branding versus targeted marketing is 5:1. You want to build your reputation at least 5 times more often than you want to have a sale.
WHAT ELSE DOES YOUR CUSTOMER DO?
Knowing your customer, and your prospective customer, allows you to speak to them on their terms, and in the places where they are. Things like social media, television, radio, movie theater advertising, gas station pump advertising, newspaper, magazine, bus sign advertising, etc., all have value only if your customer sees them. What does a typical day look like for your customer? A typical month? What are their habits? We paint with a broad brush in marketing. Each element of your strategy should work together. Don't put all your eggs in one basket, unless your customer dictates that. Follow your customer and you can't go wrong.
HAVE A ROAD MAP
If you don't know where you're going, you can't get there. If your goal is to increase sales of Product X by Y%, simply blasting your message out to the world without a plan and without measurable metrics is a waste of your time and money. Set your goals and build a map to get there.
STAY THE COURSE
When you've developed your plan, stick to it. Review it regularly, make necessary course changes, but don't scrap it without good reason. An effective, well-developed strategic plan will be a combination of quality customer intel and solid market knowledge. Make media buys that work for you and your customer, not what works for the media company. Newspaper advertising is ideal for certain demographics, a waste of money for others. The same goes for television, radio, and all other venues. If you've done your homework, your customer will tell you where to advertise.
Marketing is a marriage between the science nerd and the trendy art student. Understanding the strategy behind it, and building the creative element to support that strategy, will help your company grow.
Thursday, November 1, 2012
Get A Second Opinion
When you get a diagnosis from a physician, it's always a good idea to get a second opinion. The same holds true for your business. In the vernacular of marketing, we call this a "marketing assessment".
A marketing assessment is a detailed report from an outside source looking in on your business. Think of it as an impartial opinion on what your business is doing right, doing wrong, and areas where you can improve. This blog's purpose is to help business owners see their business from their customer's perspective. A marketing assessment does the same thing.
Let's face it—you're too close to your business to give it an objective review. You know how things are supposed to work, and, being human, you have a blind spot to failings. Consequently, you can be hyper-critical of things that have little or no bearing on your overall success. You're in business for a reason. Your product or service is unique, desirable and appealing. If not, the free market would have taken care of closing your business already. The fact that you're still in business even after terrific struggles is testament to your success. But you can do better. Billy Joel said that sometimes just surviving is a noble fight, but you're probably not interested in just surviving.
A marketing assessment is akin to planning a trip. You have a destination in mind—perhaps a sales goal, perhaps a new product or service launch—but without a plan to promote it, you're heading out on the road with no direction. A marketing assessment is a little different than a true market assessment, although a complete marketing assessment will include information about the market at large and your place in it. A marketing assessment addresses how your business currently operates and how it's perceived from a customer's point of view. After all, isn't that the most important perspective?
Here are the things to look for in a useful marketing assessment:
1. CURRENT CLIMATE. What is the position of your business in your market? What is your current client base? Who is your competition? What marketing initiatives have you undertaken in the past 6 months? What has been the success of each? Where do you stand in sales volume from comparable months, either the previous year or previous months? What are your best selling products? Lowest selling products? What does your web traffic look like? Do you regularly have repeat customers?
2. LOW-HANGING FRUIT. What are the top ten things your business isn't doing that it should be doing right now? What items have the lowest outlay of funds or time, with the highest potential return? How's your infrastructure? Are there any long-term investments you haven't made that can be made? Are there issues with order placement or fulfillment that need to be addressed? Are there quality control issues? Is your business operating past its capacity? Do you have personnel issues? Are there too many decision makers, or too few?
3. SHORT-TERM SOLUTIONS. With infrastructure, personnel, capacity, quality and low-hanging fruit addressed, what are the top ten things your business can do in the short-term to increase traffic? What is a reasonable traffic increase to expect, and how do you measure it? What are the best venues (traditional and non-traditional) to get your message out? Is your business prepared to handle a sudden increase? Does your current brand effectively tell your story? Is your brand too broad or too narrow? Are there any potential customers to whom you're not speaking?
4. LONG-TERM SOLUTIONS. Does your marketing strategy allow for new products or services to be added on a modular basis? Does your brand have staying power or is it transitory? How will you handle new competition, both locally and on the web? How well will your business handle another downturn in the economy? Or an upswing? What is your long-term marketing strategy? How will you continue to build your brand?
Each of these questions are tip-of-the-iceberg things. A marketing assessment will address each of these impartially and with market knowledge. This is certainly not a DIY project. It's important to get an outside opinion, and to listen to it.
A marketing assessment is a detailed report from an outside source looking in on your business. Think of it as an impartial opinion on what your business is doing right, doing wrong, and areas where you can improve. This blog's purpose is to help business owners see their business from their customer's perspective. A marketing assessment does the same thing.
Let's face it—you're too close to your business to give it an objective review. You know how things are supposed to work, and, being human, you have a blind spot to failings. Consequently, you can be hyper-critical of things that have little or no bearing on your overall success. You're in business for a reason. Your product or service is unique, desirable and appealing. If not, the free market would have taken care of closing your business already. The fact that you're still in business even after terrific struggles is testament to your success. But you can do better. Billy Joel said that sometimes just surviving is a noble fight, but you're probably not interested in just surviving.
A marketing assessment is akin to planning a trip. You have a destination in mind—perhaps a sales goal, perhaps a new product or service launch—but without a plan to promote it, you're heading out on the road with no direction. A marketing assessment is a little different than a true market assessment, although a complete marketing assessment will include information about the market at large and your place in it. A marketing assessment addresses how your business currently operates and how it's perceived from a customer's point of view. After all, isn't that the most important perspective?
Here are the things to look for in a useful marketing assessment:
1. CURRENT CLIMATE. What is the position of your business in your market? What is your current client base? Who is your competition? What marketing initiatives have you undertaken in the past 6 months? What has been the success of each? Where do you stand in sales volume from comparable months, either the previous year or previous months? What are your best selling products? Lowest selling products? What does your web traffic look like? Do you regularly have repeat customers?
2. LOW-HANGING FRUIT. What are the top ten things your business isn't doing that it should be doing right now? What items have the lowest outlay of funds or time, with the highest potential return? How's your infrastructure? Are there any long-term investments you haven't made that can be made? Are there issues with order placement or fulfillment that need to be addressed? Are there quality control issues? Is your business operating past its capacity? Do you have personnel issues? Are there too many decision makers, or too few?
3. SHORT-TERM SOLUTIONS. With infrastructure, personnel, capacity, quality and low-hanging fruit addressed, what are the top ten things your business can do in the short-term to increase traffic? What is a reasonable traffic increase to expect, and how do you measure it? What are the best venues (traditional and non-traditional) to get your message out? Is your business prepared to handle a sudden increase? Does your current brand effectively tell your story? Is your brand too broad or too narrow? Are there any potential customers to whom you're not speaking?
4. LONG-TERM SOLUTIONS. Does your marketing strategy allow for new products or services to be added on a modular basis? Does your brand have staying power or is it transitory? How will you handle new competition, both locally and on the web? How well will your business handle another downturn in the economy? Or an upswing? What is your long-term marketing strategy? How will you continue to build your brand?
Each of these questions are tip-of-the-iceberg things. A marketing assessment will address each of these impartially and with market knowledge. This is certainly not a DIY project. It's important to get an outside opinion, and to listen to it.
Tuesday, October 23, 2012
When To Lawyer Up
The old joke goes; "What do you call a thousand lawyers at the bottom of the ocean? A good start." That might give you some indication of my bias when it comes to the question of litigation. The way I run my business doesn't tend to lend itself well to suing people. If I sue my clients, they don't come back. The thought of it makes me uncomfortable, because I'm a firm believer in trying to work things out amicably.
I've discovered, as you likely have, that this doesn't always work out in business. There are times when something happens, either through no fault of your own or by some accident, that you come face-to-face with civil law. Maybe it's debt collection, maybe it's contract enforcement, maybe it's something you built or produced that didn't work as expected. Whatever the reason, there's a time and a place to lawyer up.
I've known some business people whose first reaction to any situation is to come with both barrels blazing. I've known others who just roll over at the first sign of confrontation. Both extremes don't solve the problem. Perhaps you're wondering why a marketing blog is talking about lawyers and litigation. Simple. All customer interaction is marketing. Any type of litigation usually means you've exhausted your other options, and the client in question will no longer be doing business with you. There are dangers in jumping the legal gun, just as there are dangers in doing nothing. There are certain key areas from a marketing perspective that demand litigation as a last resort.
DEBT COLLECTION
Marketing? Really? Look at it this way. If you don't have cash flow, you don't have anything to market. Your cash flow directly affects how you run your business, from payroll to inventory to whether or not you make a profit. Suing someone for uncollected debt is a process with multiple, time-consuming steps with no guarantee of success. It's also public. There are many ways to mitigate legal action, most of which start with a good plan at the beginning of the relationship. Like a prenuptial agreement, a strong contract with expectations clearly spelled out, timelines set and remedies specified will show a prospective client that you are a serious business person. Drafting a contract is one thing lawyers do very well. This is an expense that will pay for itself many times over. More often than not, tardy or aggressive clients will back down with a strong contract on your side. The more solid your footing, the more easily you'll be able to collect money or solve client misunderstanding. If there's a benefit to you, consider offering an early payment discount. Add penalties for late payment. As with everything in your initial pre-nup, state it clearly. When you are faced with a slow or non-paying client, consider first the amount, the reason, and the length of the relationship. What percentage of your business does this client represent? Is an invoice for $100 worth jeopardizing your $100,000 client? And remember that you get farther with a gentle nudge than a swift kick. Invoices get lost, payables get delayed. Sometimes being the persistent squeaky wheel will move something forward. Using the legal system to collect debt should be your last resort. If everything else fails, this is the second time to contact your lawyer. An overwhelming majority of a lawyer's work is drafting documents, not actually suing people. The threat of legal action will often prompt clients to pay. Keep in mind that this will likely sever your relationship with the client. Use it wisely.
SLANDER, LIBEL, DEFAMATION
We live in an age where anybody can say anything about anyone, anywhere at any time. The web makes these types of negative comments permanent and nearly impossible to get rid of. Most of us have to shrug off a lot of these types of negative comments. Where the line is drawn legally is when slander, libel, or defamation take place. The trick is proving these have taken place. In the broadest possible terms, defamation is something about you or your business that is untrue and has the potential to cause damage. Slander is telling someone, libel is writing it down. Now, as any good lawyer would advise me (and you), I'm not a lawyer. Consult with one if you believe you or your business are a victim of this. From a marketing point of view, defamation and its two cousins are potentially devastating. It's important to monitor any information shared about you or your company on a regular basis. Monitor your social media, as well as your competitors'. If you believe defamation of some sort has occurred, and can pinpoint the source, this is time to lawyer up. The first step is usually a "cease and desist" letter. Most of the time, this does the trick. A letter from a lawyer can be scary. If it doesn't stop the offensive action, your lawyer will be able to recommend an appropriate course of action. From a marketing point of view, keep the end in mind. Will going after someone who is venting worth any sort of negative publicity your company will receive?
COPYRIGHT INFRINGEMENT
This one is potentially the most damaging to your business. If you produce something unique, it's in your best interest to ensure no one copies it. Lawyers can help with copyright and patent registration, which is preventative medicine. Trademark your logo and your tagline. Place copyright notices on key marketing pieces such as your website, print collateral and signage. And don't be afraid of suing on this one. This is the only such infringement I would suggest running, not walking to a courtroom. Your business depends on your proprietary information. Defend it vigorously.
TRADE SECRETS
The same holds true for business processes, trade secrets and any type of information or documents unique to your business, that are essential for your business to remain competitive. Keep this type of information as close to the chest as you can. If employees need to know this information, having a confidentiality agreement (created by a lawyer) is your best prevention should someone become disgruntled and spill the beans.
Your business is sometimes like a battle. You have an arsenal of weaponry at your disposal. Using the appropriate weapon at the appropriate time will ensure the public's perception of you remains positive. If you have the reputation of throwing lawsuits around like a petulant child, you'll likely scare off potential customers. If you roll over and play dead, your business will tend to attract bottom feeders. A good lawyer is like a homeowners insurance policy - you'll likely never need it, but when you do, you'll be really glad you had it.
I've discovered, as you likely have, that this doesn't always work out in business. There are times when something happens, either through no fault of your own or by some accident, that you come face-to-face with civil law. Maybe it's debt collection, maybe it's contract enforcement, maybe it's something you built or produced that didn't work as expected. Whatever the reason, there's a time and a place to lawyer up.
I've known some business people whose first reaction to any situation is to come with both barrels blazing. I've known others who just roll over at the first sign of confrontation. Both extremes don't solve the problem. Perhaps you're wondering why a marketing blog is talking about lawyers and litigation. Simple. All customer interaction is marketing. Any type of litigation usually means you've exhausted your other options, and the client in question will no longer be doing business with you. There are dangers in jumping the legal gun, just as there are dangers in doing nothing. There are certain key areas from a marketing perspective that demand litigation as a last resort.
DEBT COLLECTION
Marketing? Really? Look at it this way. If you don't have cash flow, you don't have anything to market. Your cash flow directly affects how you run your business, from payroll to inventory to whether or not you make a profit. Suing someone for uncollected debt is a process with multiple, time-consuming steps with no guarantee of success. It's also public. There are many ways to mitigate legal action, most of which start with a good plan at the beginning of the relationship. Like a prenuptial agreement, a strong contract with expectations clearly spelled out, timelines set and remedies specified will show a prospective client that you are a serious business person. Drafting a contract is one thing lawyers do very well. This is an expense that will pay for itself many times over. More often than not, tardy or aggressive clients will back down with a strong contract on your side. The more solid your footing, the more easily you'll be able to collect money or solve client misunderstanding. If there's a benefit to you, consider offering an early payment discount. Add penalties for late payment. As with everything in your initial pre-nup, state it clearly. When you are faced with a slow or non-paying client, consider first the amount, the reason, and the length of the relationship. What percentage of your business does this client represent? Is an invoice for $100 worth jeopardizing your $100,000 client? And remember that you get farther with a gentle nudge than a swift kick. Invoices get lost, payables get delayed. Sometimes being the persistent squeaky wheel will move something forward. Using the legal system to collect debt should be your last resort. If everything else fails, this is the second time to contact your lawyer. An overwhelming majority of a lawyer's work is drafting documents, not actually suing people. The threat of legal action will often prompt clients to pay. Keep in mind that this will likely sever your relationship with the client. Use it wisely.
SLANDER, LIBEL, DEFAMATION
We live in an age where anybody can say anything about anyone, anywhere at any time. The web makes these types of negative comments permanent and nearly impossible to get rid of. Most of us have to shrug off a lot of these types of negative comments. Where the line is drawn legally is when slander, libel, or defamation take place. The trick is proving these have taken place. In the broadest possible terms, defamation is something about you or your business that is untrue and has the potential to cause damage. Slander is telling someone, libel is writing it down. Now, as any good lawyer would advise me (and you), I'm not a lawyer. Consult with one if you believe you or your business are a victim of this. From a marketing point of view, defamation and its two cousins are potentially devastating. It's important to monitor any information shared about you or your company on a regular basis. Monitor your social media, as well as your competitors'. If you believe defamation of some sort has occurred, and can pinpoint the source, this is time to lawyer up. The first step is usually a "cease and desist" letter. Most of the time, this does the trick. A letter from a lawyer can be scary. If it doesn't stop the offensive action, your lawyer will be able to recommend an appropriate course of action. From a marketing point of view, keep the end in mind. Will going after someone who is venting worth any sort of negative publicity your company will receive?
COPYRIGHT INFRINGEMENT
This one is potentially the most damaging to your business. If you produce something unique, it's in your best interest to ensure no one copies it. Lawyers can help with copyright and patent registration, which is preventative medicine. Trademark your logo and your tagline. Place copyright notices on key marketing pieces such as your website, print collateral and signage. And don't be afraid of suing on this one. This is the only such infringement I would suggest running, not walking to a courtroom. Your business depends on your proprietary information. Defend it vigorously.
TRADE SECRETS
The same holds true for business processes, trade secrets and any type of information or documents unique to your business, that are essential for your business to remain competitive. Keep this type of information as close to the chest as you can. If employees need to know this information, having a confidentiality agreement (created by a lawyer) is your best prevention should someone become disgruntled and spill the beans.
Your business is sometimes like a battle. You have an arsenal of weaponry at your disposal. Using the appropriate weapon at the appropriate time will ensure the public's perception of you remains positive. If you have the reputation of throwing lawsuits around like a petulant child, you'll likely scare off potential customers. If you roll over and play dead, your business will tend to attract bottom feeders. A good lawyer is like a homeowners insurance policy - you'll likely never need it, but when you do, you'll be really glad you had it.
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