The Right Pond

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Two weeks ago, I had the opportunity to attend a workshop with other entrepreneurs. Most were technology or engineering people. And they had created some very innovative new products and services.

The interesting thing was I was the only marketing person in the room. And many of them were dealing with marketing problems. For example, I was able to help one entrepreneur to reframe how he talked about his service to increase his credibility – what he offered initially sounded too good to be true.

For another, they were spending over $1000 per month on Google Adwords and had not generated any customers from it, even though they do extremely well selling their product at trade shows and conferences. So, we walked through their campaigns and identified what was missing. They have signed on to be a client.

And there were others who were happy to get the input of a marketing person. So, I initiated a monthly call with this group where we can share expertise. It certainly seemed like a great opportunity to be the marketing expert for these up-and-coming companies.

This experience reminded me how much easier it is to find people to help when you are fishing in the right pond. And it is even better when you are the only one who does what you do in the group.

Who could really use your help, but does not even know they need it? Where might you find a gathering of these people (in the real world or online)? These can be hard questions to answer, but when you do, you can start fishing in the right pond.

If you would like any help planning for and testing a new marketing initiative, let's talk. I can usually help you take the shorter route to success.

Planning or Testing?

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Last week, I had a call with my marketing mastermind group. They are all sharp marketers. However, there was a big contrast in how two members were figuring out how to reach new markets.

The first talked about his analysis of the market. He was looking at which particular niche would be the right one to pursue and how he could structure his offering to help him stand out from his competition. These are all good things to think about. Unfortunately, this was the third month in a row that he has talked about it with no action.

The other member has been pursuing a new market with his offering as well. While his initial attempt was imperfect, he learned a lot and has iterated on his marketing message and offering over the past four months. He is now making significant progress and has paying clients in the new niche he is pursuing.

While planning is important, nothing takes the place of action and testing. In the words of Steve Blank, an entrepreneur and professor at Stanford: “No Plan Survives First Contact With Customers.” This means that no matter how knowledgeable you are about a market, you need to test your idea. This is true for new products as well as new marketing initiatives.

So if you are considering a new marketing initiative, get out there and test it. Of course, expert guidance can help you test things that are more likely to work on the first try, but it is no guarantee. That is also a good reason to start small and prove your idea works before scaling it up.

If you would like any help planning for and testing a new marketing initiative, let’s talk. I can usually help you take the shorter route to success.

Being Heard

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Last Monday, my younger son told me that he did not want to go to ballet class. This was surprising to me, since he really loves ballet.

So, I started asking him questions about it. While the first answers were “I don’t know” and “I just don’t feel like going, today” (he is almost a teenager after all), I continued to keep asking for more details. That is when I discovered that he does not feel this particular class is challenging enough for him. That, combined with his friend not attending this class for the summer, made it less fun to attend.

Given my busy schedule, I have no desire to take the time to get him to ballet unless he wants to be there. So, we made a plan to talk with the school director to figure out which class is the right fit for him. At the end of our discussion, Will thanked me for taking the time to really listen to him and figure out a plan to make ballet more enjoyable.

He was happy to have been heard. And don’t we all appreciate being heard?

This goes far beyond satisfaction surveys. There is a lot to be learned from having an in-depth conversation with a client. You want to figure out the problem beneath the problem.

For example, when a prospect tells me they want to generate more leads, that is not what they really want. It is how they think they can get to their bigger goal, such as increased sales so they can afford to hire a new salesperson.

However, generating more leads may not be the most direct path to get to their goal. Maybe they can achieve their goal more quickly by offering an additional service to existing clients.

When you have conversations with prospects, be curious. Understand their bigger goals so that you can help them find a solution that gets them there faster, even if it is not using your services. That is something you can be sure will set you apart from your competition.

Hiding in Plain Site

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A couple of months ago, a prospect contacted me about his carpet cleaning business that he wanted to grow. We had initially met when he cleaned our carpets a couple of years ago.

He initially wanted a quote on using Google Adwords to find more clients. After looking at the cost per click and typical conversion rates, it was clear that Adwords was not a good fit.

Then we started talking about Facebook. While this is less expensive per click, it is also a lot less targeted, particularly for something like carpet cleaning. People are unlikely to want to learn more about carpet cleaning unless they are already thinking about it.

So, we started talking more about how he finds customers and how he gets repeat business. While he was using direct mail, which is expensive but works, he was not taking advantage of an email list of nearly 5,000 past customers. These were people who already knew him and presumably liked his work.

The lightbulb went on for me! This was a great opportunity to generate repeat business at a low cost. Here was a valuable asset hiding in plain site simply because it was not the way most carpet cleaners generate business.

So, we just sent out the first email. We made it informative and not just a sales pitch so people who received it want to open it. And while only about 3,500 of the email addresses were still in use (some of the email addresses were several years old), the first newsletter generated at least 20 jobs for a lot less than online advertising or direct mail.

Are you missing a valuable asset in your business? When we are too close to our business and the way the industry does business, it can be hard to see things differently. Getting an outside perspective can help you find assets that are hiding in plain site.

If you would like to review your business to find valuable marketing assets that you may be overlooking, let’s talk.

Build for Longevity

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During our recent family trip to Peru, we saw a lot of Inca ruins. From Machu Picchu to less well-known sites, what impressed me the most was how much of what they built was still standing 500-1000 years later.

And it was not just their temples. There were terraces they built into the sides of hills for growing food that were still in good condition…some of them were still being farmed today. We saw homes, aqueducts, graineries and more.

Our guide told us that the Incas believed their empire would last forever, so they built their infrastructure to last. They even designed their buildings and other structures to withstand earthquakes, which are common in the region.

While most of us do not expect our businesses to be standing in 500-1000 years, it certainly makes us think differently when we build for longevity. For example, when developing a marketing campaign, do you focus on getting the marketing fundamentals right or pursuing the next fad?

When I talk with business owners, they often want to know about the latest marketing fad. Should they be developing more video content or advertising on Snapchat? Instead, I ask them about how they differentiate themselves from their competitors and is their marketing message clear? Because when you get the fundamentals right, any marketing you do gets easier.

So rather than focusing just on how to increase sales this month, think about how you can increase sales next year, and the year after that. Does that mean creating a stronger differentiator? Do you need to improve your customer experience?

When we build for longevity, we create businesses that have an impact now and in the future. And isn’t that what we really want for our businesses?

If you would like to work on getting the marketing fundamentals right for you business, let’s talk. Just reply to this email to schedule a time. There is nothing I enjoy more than really digging into how businesses can build strong foundations for their marketing efforts…now and in the future.

Being “Everywhere”

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Over the past couple of months, I have run into the same business-to-business insurance agent multiple times. It felt like he was everywhere I was. He was always very nice and helpful, and when I needed a new business policy, it was an easy choice to work with him.

To work with someone, we need to know, like and trust them. The more you see someone and the more you get to know them, the easier it is to like and trust them. However, it takes a lot of time to do that through face-to-face interactions, and advertising is typically expensive and not a great way to build rapport.

So, how can you leverage your time to be everywhere for your ideal prospects… without it being extremely expensive? This has been something I have been piecing together over the past six months. We have tested some of the pieces with clients and learned what is working for other companies.

Whether you are getting organic traffic to your site or sending people there with paid advertising, only a small percentage actually take action, such as contacting you or joining your newsletter. While some people may not be a great fit, most of them likely are. The problem is that rapport cannot be built with one visit to your website.

While advertising is generally expensive, retargeting is not. Retargeting is an advertising tool in that enables you to show ads on Facebook and most sites that have advertising to people who have already visited your site. So, we can reach these people multiple times at a low cost. However, we do not want to just keep trying to sell them your services. You want to get them to know, like and trust you.

Because people learn and connect in different ways, you want to give them different options in different ads. For example, different ads could promote a white paper they download, a video they can watch, and a webinar they can join. Each moves them closer to doing business with you. Plus, if they sign up for a newsletter (like this one), you can develop a more intimate relationship through simple, consistent communication.

While this is certainly not a free way to get new clients, it is a relatively inexpensive way to leverage your time and develop relationships with a much larger number of prospects. If you would like to test to see how this works in your industry, please let me know. I would be happy to map out what it might look like for you and what it would take to implement. Just contact us to schedule a time to talk.