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Archive for May, 2008

Jargon doesn’t sell!

Monday, May 26th, 2008

The first time we speak to people, it’s probably true to say that we want to get their attention. This is true in social situations but we certainly want to grab attention in a business setting - why?

Well, once get interest we are into a conversation that may lead to a mutually beneficial outcome (that also applies to a social interaction of course!). So, what is one of the most common mistakes I see, that I also have to constantly guear against? Jargon - industry specific words that we are familiar with that we use all the time on the assumption that everyone else knows about too.

Here is an example. I recently went to a network event where we were all required to go through that right of initiation - the 30 second introduction. One of these was from a bank representative who talked about their range of services (that were industry leading of course!) that included “CD”. Now, I only know one definition for that term and it’s compact disc. I am sure that wasn’t what this was.

In the end I found out from a colleague sitting next to me (it means “Certificate of Deposit” by the way) but I missed everything that was said after the term CD was used as I tried to figure it out. I cannot now remember the name of the bank and I have no idea why a certificate of deposit is something I might be interested in. In short, I have no idea how it applies to me.

The lesson therefore is - avoid jargon! Sometimes I think people use it to sound smart but more often I think it is simply common language in their world but guess what? We are not in their world any more! It needs to be relevant to the listener.

Think about the benefits of the “thing” you are describing. In the example above, what does a CD do for me? What problem does it solve? Why do I need it? How will it make my life better? Then describe it in terms that really make sense to me.

The Greatest Marketing Secret? It’s All in The Follow-up

Thursday, May 15th, 2008

Small business owners often ask, “What is the most powerful and effective marketing tool to grow my business?” The answer is simple – “Follow Up.”

Follow up is the act of communicating with your prospects and customers in a planned and strategic way. Having an effective follow-up strategy is the best way to keep getting your marketing message in front of prospects (and referral partners) until they’re ready to take the next step.

Unfortunately, most small business owners are making it up from opportunity to opportunity. They haven’t taken any time to think through a follow-up process for any of their marketing tactics. Big mistake!

One important thing to remember (often ignored by many) is to always provide your clients and prospects with something of value. Do this and I guarantee your profits will increase measurably!

The concept of follow up is so simple. We all know that follow up is an important element to pursuing new and follow-on business. Yet studies have shown that even though most customers say “yes” after the sixth positive contact, as many as 80% of sales people have already given up by this time. As many as half give up after the second contact!

The companies that commit to follow up get more clients – it’s as simple as that!

Here are Five Keys to keep in mind for effective Follow Up:

  1. Plan your Follow Up for prospects and clients over the life of the marketing and sales cycle. Consider that you may have to plan follow up for key clients over a twelve month cycle.
  2. Use a combination of letters, telephone calls, personal notes, and send written information and articles from magazines or newspapers that may be of interest to your clients and prospects.
  3. Ensure that each communication gives your client or prospect something of value. Simply calling once every few weeks to “check in” or “see if they have made a decision” flat out won’t get it done.
  4. Send tip sheets and free reports of interest.
  5. Contact your prospects or client every 4 – 8 weeks.

Design a Follow Up strategy for your clients and prospects and begin using it now. Within a couple of short months, I predict you will see measurable results.

Marketing mindset

Monday, May 12th, 2008

I am reading a great book by Carol Dweck, called “Mindset - the new psychology of success” The main thesis is that there are two types of folks out there (OK, I know that is simplistic but let’s go with it for a minute) - fixed mindset thinking: All talents are fixed and can’t really be developed - they are gifts in other words. Growth mindset: all talents including intelligence can be learned and developed.

What does this have to do with small business marketing? Well, it is possible to hear a lot of these mindsets in business. “I am not a natural salesman” is perhaps the most common that I come across.

It seems to me that these skills can be developed. We perhaps all know people we consider to be “naturals” - someone with the gift of the gab for example. The danger of this thinking is that we don’t bother to think more deeply and it gives us an excuse. In other words - I wasn’t given that gift therefore I can’t develop it, so why try?

What to do? Personally I try to catch myself saying these things either out loud or (more commonly) in my head and then think whether that is an excuse for inaction. So, if you are inclined to think you are not a marketing person or a sales person I encourage you to think instead - how am I going to develop the skills in this area?