Leadership in Action

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Many people don’t think of management as a marketing strategy or as a key to growing revenues  But it is.

I recently changed a banking relationship from one bank to another.  The new manager, Bill McDougall was a big factor in my switching.  But it wasn’t until today that I realized why I’m glad I’m now with Farmington Bank.

While in the bank I casually mentioned in front of a teller that my ‘transition’ to their bank was not as smooth as I had hoped or expected.  Not a deal-breaker.  I wasn’t a ‘flight risk’.  And I probably shouldn’t have said anything in front of the bank teller.  But I did.

Later that day, I got an email from Bill who said, “I heard you had some challenges.  Let’s talk.  We’re committed to making sure our customers are happy”.  No defensiveness.  Just regard for my experience and for the experience the bank could use to improve their performance with other customers.  WOW!

I reflected on this. The more I did, the better Bill and Farmington Bank looked.  Here’s why . . . Bill’s email reflected a sincere regard and CARING for me as his customer.  The fact that his tellers LISTENED to what I’d said (another form of caring!) and then SHARED that information with Bill (a reflection of TRUST in Bill and of their RESPONSE-ABILITY to act in a proactive manner on behalf of the customer and the bank) are all good signs.

OK, Farmington Bank isn’t perfect.  Neither am I.  Who is?  But a bank with a culture that:

  • has and honors a commitment to its customers,
  • recruits people who can demonstrate that commitment with their actions
  • encourages people to create a WOW! experience
  • has managers whose leadership encourages trust in their staff

Is pretty darned amazing!  You may not be near Farmington Bank.  But you can learn some great lessons in marketing by seeing how they manage their customer’s experience.  Now THAT . . . is a great basis for differentiating any business — including yours — from its competitors.

KEY POINT:
Caring is the unconditional regard for your customers that manifests in action on their behalf

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Recovering From Disaster

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Sooner or later, it’s going to happen.  A disaster.  You didn’t plan on it (DUH!).  You certainly didn’t want it.  But you have to deal with it or your business is in serious doo-doo.

Experience and commonsense suggest that quickly and openly acknowledging an experience your customer or client or patient found compromising and then doing something positive in response is not only likely to retain their business but make yours even more attractive.  It’s called response-ability — your ability to respond to the need of your client for a ‘warm fuzzy’ about your business or practice is . . . huge.

Airbnb . . . screwed up but . . . recovered nicely!
Airbnb is an online service that allows people to offer their home to others, for a fee.  It’s a cool idea, actually.  Say you’re traveling to Paris, France.  You check available accommodations and Voila! you have a not-so-commercial way to be ‘in country’ that most travelers will never know.

Unfortunately, risking a great experience exposes you to a not-so-good one, too.  That happened to a lady in San Francisco, CA who used the online service and had her home trashed by her ‘guests’.  Not good.  Airbnb’s initial response was to blame the client and protect itself.  Evenutally, due to public outcry, it owned the problem and went to great lengths to remedy the lady’s situation.  As a result, Airbnb turned ‘lemons into lemonade’.

KEY POINT:
______ happens.  When it does, learn to recover quickly, decisively and effectively!

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Say It Loud, Say It Proud!

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“Don’t Hide Your Light Under a Bushel”
I loved this book.  No, I didn’t read it.  I just read the cover!  It’s ‘over-the-top’.  But that’s why I’m writing about it and not something else.

My friend, THIS . . . is great copy!  “Kick-Ass Recipes for Hungry Girls Who Want to Stop Cooking Crap (and Start Looking Hot!).  Telling like it is (or, you hope it will be) is very, very attractive, isn’t it?

Skinny Bitch and The Elevator Pitch
Nice rhyme.  But I digress . . . My point of this post is that, like a book cover, your ‘introductory comments’ AKA elevator pitch need to rise above the hum-drum and capture the attention of people you’re talking with.  If it’s benign and ‘vanilla-esque’ then you’ll likely not be noticed and that, in business, can be verrrry deadly!

So ‘Go For It’ . . . take a chance . . . on change.  Tell the world WHO you are by sharing WHAT you do and FOR WHOM.  And when you think you’ve got it . . . throw in 20% more ‘edginess’ . . . just to be sure your words will work.

KEY POINT:
Tell it like it is . . . Go BIG or Go Home

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Make a (Great) Offer!

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I was recently reminded that my worldly wisdom reflects a certain amount of insight into the ‘basics’ of what makes marketing effective. In this online, Google + world it IS nice to remember some of what makes the world go around and business happen.

The Offer Matters!
One basic of direct marketing is that you simply MUST . . . include an offer — an invitation to take some action assuming, of course, that your message is sufficiently relevant and provoking to generate a response.  Ernest Nicastro, a renowned copywriter and direct-marketing expert suggests some thoughts worthy of your consideration:
Reducing Risk Increases Response
Any offer that is both valuable and ‘FREE!’ is better than one that isn’t.
Marketing is a Two-Step Process
Seek first to generate a response, then seek to generate a sale — especially in a B2B world.
An Offer to Make Money Works Better than an Offer to Save Money
Especially true if you’re marketing to businesses more than consumers
Limited-Time Offers . . . Work!
Given a choice, qualified people will prefer to respond than lose out
Make Your Offer Compelling
You have little time and one ‘shot’ — make both count

KEY POINT:
Effective marketing invites ACTion from your prospects

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Service is a Differentiator

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Despite the image of today’s post, I am not being pessimistic. Quite the contrary, actually!

Today’s post is inspired by a conversation I had with a very competent and caring professional who has just decided to leave the firm he has been employed by for several years and start a practice as a solo-practitioner.

“Your Service Sucks!”
That’s essentially what this provider ‘s clients told him. OUCH!  But the ‘service’ was not what the provider did, it was what his firm’s ‘support system’ did.  Or, more accurately, what they did NOT do.  Errors in billings, delays in processing, apathetic attitudes, etc. all made working for this firm a ‘non-issue’.

The Good News of a Bad Service Experience
I told this provider that, while he won’t have the overhead of a big office and staff, he will be able to offer something the big firm can’t match — an ability to operate his practice in a manner that is not only client-centered but, as a result, more attractive to his target market of small business owners.

KEY POINT:
Service is a differentiator and makes you a ‘preferred provider’ if you offer it better than others!

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What’s In The Package?

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If you’re providing an intangible service, odds are the real  benefit of your services will not be enjoyed by your client until some time has passed.  You’re not selling ice cream cones that a client can buy and consume immediately.

That’s a problem.  Why?  Because it forces your prospective client to DELAY GRATIFICATION.  That’s not fun to do.  When people pay their money, they want their ‘ice cream’ … NOW!

It’s The Package
So what can you offer a prospect today that seems ‘real’ — even though you can’t deliver the real goods until some time in the future?  Simple.  A package. This is just a BUNDLE of your services that suggest the benefit your prospective client wants is likely to be enjoyed.

For example, we helped one client create a series of ‘packages’ that she describes in a one page format and each one addresses specific PAINS her target clients want to solve.  The mere fact that she has a package for a prospect’s problem communicates that she understands her prospect’s problem.  Her package also communicates that, while you may have to delay gratification, you’re more likely to enjoy it if you hire her than if you work with some other consultant who just says, “Yeah, trust me . . . we can help you”.

KEY POINT:
Packages make it easier to buy — and sell — your intangible services!

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Is Your Story Compelling?

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I just saw a short video that reminds me of the importance of telling a ‘good’ story. It’s compelling.  It keeps your attention ALL the way through to the end (where the ‘point’ is made).


CLICK the above image to view the video.  It’s worthy of 60 seconds of your time.  Oh yes, it’s funny.  And if you think it’s not, you need a vacation — enjoy your July 4th holiday!

KEY POINT:
Storytelling is a ‘practical’ art but you can learn to do it — practice!!

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Making Your Point

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When you want to connect with someone, you want to do it quickly and relevantly, fair?  Yes, but how? Duane Cashin, an outstanding public speaker and business consultant, gave a talk recently in which he revealed a wonderful structure for engaging quickly, easily and effectively with anyone: T.I.T.O.


T . . . Trends
Begin by offering to provide some ‘insights’ about recent ‘disturbing’ or ‘interesting’ trends that may affect the life or business of the person you’re speaking with — e.g. “Y’know, I read the Financial Times and there are 3 trends countries like Greece are revealing that American investors need to be aware of . . . ” (do you have their attention?)
I . . . Insights
Amplify the ‘data’ in the trends by filtering it with your own expertise.  Use this section to demonstrate you know your business — e.g. “What all these economic events are leading up to are 3 serious threats that can decimate your net worth if you don’t respond appropriately.  For example . . . ” (you think they’re gonna leave you now?”)
T . . . Threats
Present the consequential damages that failing to act appropriately may cause the unprepared or ill-advised person to suffer.  This should be a logical connection that arises from not using the insights you’ve provided based on the trends you’ve observed.
O . . . Options
By now, someone is ‘in pain’ and you can’t leave them that way.  So, offer a way out . . . of the pain they’re experienced now.  “What I find people are doing about these issues seem to fall into one of 4 kinds of response . . . ” (qualified prospects will identify themselves to you!)

KEY POINT:
Engaging prospective clients in a conversation is best done by design, not accident!

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Give and Ye Shall Receive

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When you ask someone to engage with you . . . a conversation or a click . . . you’re asking them for two valuable commodities . . . their time and their money.

If you ask, you presume (or, hope) there’s some value in that connection, potentially, for you.  But where’s the value for the other person . . . i.e. your prospective client?

Feed First, Ask Second
Whether you’re trying to make friends with a neighbor’s new dog or a new prospective client, offer them something for the effort they must make to connect with you.

Special Reports and Special Relationships
A valuable commodity to exchange is your expertise in the form of a white paper or special report.  Not only is it an item of value — which generates reciprocity towards you, it also helps to build the perception that you are, in fact, an ‘expert’ in your field.   Creating these ‘gems’ once may be difficult but once you have them, you can use them again and again.  Sweet, non?  Here’s one of my own as an example.

KEY POINT:
Create Items of Value to build goodwill, reciprocity and position yourself as an expert in your field.

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Choose Service Over Price

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In the property & casualty insurance business being ‘competitive’ and the basis for that position is often built on having a good (euphemism for ‘low’) price — just think of the lizard who’s always touting that, “15 minutes could save you 15% or more”.

Lately, major players, like Progressive and State Farm are getting back to basics . . . and focusing on providing good SERVICE and ‘fair’ pricing . . . as this ad cleverly reveals:

In order to thrive, you want to focus on getting clients who appreciate you for something other than the lowest price. Service is a competitive position that comes at a price. If that price is fair to pay for the value received and affordable to provide, you have yourself a competitive position and a winning strategy.

KEY POINT:
Compete on your great service, not on a low price — that’s a sucker bet

 

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