How Do YOU Stand Out in Business?

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Four (4) things prospects like to know when they first meet you:

WHAT . . . do you do for your clients? (Value Proposition)

WHO . . . you do that for? (Target Market / Ideal Client)

HOW . . . you do that? (Secret Sauce)

WHY . . .  are you better than other firms? (Unique Selling Proposition)

Your TALKING LOGO addresses most of these questions.  But what’s the REAL basis for ‘standing out’ from your competitors?  It’s NOT (darn it!) as easy as crafting a great message you can use when you meet someone for the first time.

How Do You STAND OUT . . . to a Prospective Client?
Years ago a famous marketing professor at Harvard Business School (Ted Leavitt) was asked to help a major accounting firm ‘differentiate’ their audit services.  A major corporation’s audit business is worth a LOT of money to the accounting firm that “wins the audit” away from other competitors.

To differentiate a product or service, it must be BOTH:

1)  Beneficial . . . i.e. it must offer a meaningful benefit, and
2)  Unique . . . i.e. it can’t be like anything else

Then, he explained the challenge . . . “If something is truly beneficial, it won’t be ‘unique’ for long — competitors will follow suit and if something is truly unique, maybe what you’re offering isn’t all that beneficial”.

Everything this firm offered in an audit was also being offered by their competitors.  So where was the opportunity to differentiate?  It didn’t (seem to) exist!

The Challenge of Differentiating Your Business and Services
But Leavitt had an idea.  He asked to interview their best audit clients to learn, “WHY . . . did they choose your firm to get an audit?”.  The client agreed.

A large number of their clients later told him, “We just liked them better than any other firm”.

“Perception IS Reality”
In marketing, being ‘liked’ isn’t about being ‘nice’ (even if you are!).  It’s about being seen as a Preferred Provider relative to your competitors.

The clients suggested a number of PERCEPTIONS about Leavitt’s client and told him that it was how they behaved during their meetings that convinced them his client was the ‘best firm’ to use to get that audit.

Basically, what they SAID and DID convinced these prospects to go with Leavitt’s client!

The Big Lesson Here
Ask your ‘best clients’ the question, “Why did you choose OUR firm?”.  Follow that up with, “What did we SAY or DO to make you believe we were ‘the best’ firm to use?

You’ll learn what you need to say and do in front of prospects . . . to ‘Stand Out’ from the crowd of your (alleged!) competitors.

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The Secret of Business Growth?

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I hope you’d enjoy this brief trip back down ‘Memory Lane’ with me.  I sure did!

The Wizard of Oz contains the secret of business GROWTH.

You need (at least one!) a clear GOAL and a PLAN (of action) designed to help you reach it.

The other thing you need to be successful is . . . ACCOUNTABILITY!

“Follow, Follow, Follow, Follow . . . Follow The Yellow-Brick Road!”
In the Wizard of Oz, Dorothy has a clearly defined GOAL — to go the the Emerald City and find  the ‘great and all-powerful Wizard of Oz’.  After that she had another ‘bigger’ goal — to get back home to Kansas.  And, just like Dorothy, your business has multiple goals that all depend on still other goals to become realities.

Every business has a basic and clearly defined Goal — generate revenues and . . . profit.

Early in the story, Dorothy gets a road-map (literally!) to reach her goal – when the Munchkins tell her to, “Follow the Yellow Brick Road”.  (That was the 1939 equivalent of our modern GPS!)

But what happened to Dorothy?
She manages (catch my humor, there?) to recruit some staff members.  But she soon learns that her staff is far from perfect!  Tin-man has no heart (legal department?).  Scarecrow has no brains (operations?).  And the cowardly Lion has no courage (the sales force?).

Great way to start the process of achieving her goal!  Maybe you can relate?

The Wicked Witch of the West
The wicked witch represents the ‘force’ that makes many things ‘go awry’ during the implementation of any plan.  So it wasn’t surprising that Tin-man was threatened with water so he could rust again, Scarecrow was set on fire and Lion was scared into catatonic paralysis.

Later, Dorothy’s entire staff was easily distracted by being made to fall asleep by the Wicked Witch in the poppy field scene — making her ‘easy picking’ for those winged monkeys!

And THAT is why if you want to be successful . . . you need a Goal, a Plan and you need to be held accountable for doing what you planned to do in the first place.

KEY POINT:
Success reflects a PLAN to reach a GOAL and some way to be ACCOUNTABLE for doing whatever it takes to reach your goal and achieve success. 

 

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Duct Tape Marketing: What’s Up With THAT?

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I’m often asked about the ‘funny’ name of the marketing organization that I represent —
Duct Tape Marketing.

There’s a great story behind HOW the name came to be but … I digress.  ‘-)

What is more important, is why Duct Tape Marketing exists and why, in 2005, I become affiliate with this fine organization of people that began in Kansas City, MO and now has over 80 of my colleagues in every part of the world.

Enjoy . . .

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Marketing To Needs vs. Wants

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In a recent post (3/22/2012) I discussed the need to be sure you get a response from any marketing you do to promote your services. But getting a response depends on WHAT you’re offering and . . . HOW you’re inviting a response from your prospective client.

Which is More Potent . . . Needs or Wants?
No doubt about it, marketing what people want is relatively easier than marketing what they need.  If that seems odd, consider this:

Most people will agree that ‘being healthy’ is something they ‘want’ to be.  At the same time, they may ‘need’ something to achieve that goal — i.e. a colonoscopy after age 50.

Of these two, which one is easier to sell?  Which one is easier for someone to ‘buy’ into getting?

You may want a new sports car, but you may need some sales training to help you get it. Wanting the sports car is obvious and desirable. Needing sales training that can help you get it is neither!

Needs or Wants — There’s a Different Approach for Each!
If  your prospect wants what you offer, then you can invite a response in the form of an immediate buying decision.  For example, if you’re offering a wonderful Caribbean cruise, that’s highly desirable.  And a good Call-To-Action would invite someone to book with you.

However, if your prospect needs what you offer, then you should use a different approach. Typically, ‘wants’ are associated with ‘soft’ services like ‘business consulting’ more than ‘hard’ products or goods like a ‘getaway weekend’ cruise. Remember, we want to be healthy but we need a colonoscopy.  The former is obvious and desirable.  The later is not.

The Two-Step Call-To-Action
I’m assuming you’re offering a service more than a product.  So what you’re offering is really the (needed) MEANS to some (wanted) END that your prospect would like to enjoy.   This requires an offer to get something — usually information — that would help someone get what they want.

A CPA might therefore ‘offer’ an e-book on:
“The Five Biggest Tax Deductions Business Owners Always Seem To Miss”

Inviting people to download that e-book would certainly identify people who might logically need other services that a CPA can render.  But, absent an opportunity to engage prospective clients in the first place, those subsequent conversations may never have a chance to occur!

KEY POINT:
When appealing to ‘wants’, always offer an item-of-value that is low-risk / no-cost to accept and suggests high-value if it is.  Once you have the ‘first’ step out of the way, you can make follow-up actions appropriate to the person’s ‘need-to-know’ and ‘readiness-to-go’ ahead with later offers to engage your services.

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The Deadly Direct Mailing

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I just received a direct mail piece from a firm I did business with years ago. They’re still in business.  Which is nice to know.

But their mailer is, well . . . ‘deadly’ to say the least.

The copy is self-centered drivel and their offer is non-existent.  How sad.  For them.  I hope his mom ordered extra copies for her bridge club because at least she’ll see some value from this mailer!

What’s The Goal?
The creation of any promotional marketing communication must begin with as clear an understanding of what you want to happen after someone receives it as is humanly possible.

That implies, of course, that you expect ‘some thing’ to happen as a result of receiving and processing your message in whatever medium of delivery you may choose to use — print, verbal, online, etc.

Response . . . Must (ALWAYS) Be Your Goal
Given the time, money and effort required to produce and deliver a message these days, you really can’t justify any marketing that doesn’t call for your reader, listener or viewer to do something in response to your message. This is a ‘Call To Action’ or ‘Offer’.  Same thing.

Of all the goals for your marketing communications, make sure a response is one of them!

KEY POINT:
Any communication that doesn’t invite response is a wasted opportunity.

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Will a Real (Good) Website Stand Up?

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I just read an excellent rant (or, venting?) by a noted business growth consultant — Andy Birol.

Andy’s earned a solid reputation based on a history of helping clients build their business and value.

He’s actually quite good at it, too.

His latest post reflects his honest frustration with how well his website is working for him.  Or, maybe not.

The Problem With Many Websites
What Andy and many advisors realize is that “good-looking websites” aren’t necessarily ‘effective websites’.  Of course, it might help to define what ‘effective’ means, right?

‘Effective‘ means that your website can create an opportunity to help you generate revenues.

In most cases, this doesn’t imply an online transaction or purchase.  But it does suggest your website should be able to create well-qualified opportunities from which you can generate a client (and, the revenue that suggests) in a reasonable amount of time.

Let’s face it.  Whatever your expertise, it’s safe to say you probably aren’t a website developer.  Your expertise may lie in helping your clients manage their risks, make good investments, protect their intellectual property, and the like. So the lure of a ‘pretty-looking’ website may be quite compelling.

If It Looks Terrible But Works Great . . . Don’t Mess With It!
What Andy’s learned is that ‘good looks’ aren’t all that important in producing the performance criteria he’s learned is really important — i.e. identifying a well-qualified individual for his services.  That’s a huge insight.  And, a valuable one to remember.

I am constantly amazed (but not surprised) at how often a website built on the HubSpot platform looks ‘clunky’ but works extremely well.  There’s a New Yorker magazine cartoon where two dogs are in the library and on their master’s PC.  One dog says to the other, “On the Internet, no one knows you’re a dog”.  Very true.  And that’s why even ‘ugly’ websites can be more productive of leads than pretty websites . . . ‘pretty useless’, that is!

On a Google search, if your website or blog offers highly relevant content, it will attract traffic in the form of well-qualified visitors to you.  Once you have qualified visitors, using CTA’s (Calls To Action) and offering items of value can help reveal their identify so you can begin a marketing dialogue with them.  Just as Andy’s learned.

KEY POINT: Find Out If Your Current Website Is Working As You Wish
A valuable service of HubSpot is a complementary review of your current website.  The service is called “Marketing Grader“.  It takes only a few moments. You enter your URL (and up to 2 of your competitors) and it will give you an most insightful report on where you’re doing good and where you might be able to be doing even better.

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Be Relevant

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There’s a lot of truth to the saying, “If you want to be heard, say something worthy of my attention”.

The image to the left was part of a sidebar on a blog where the ‘offered information’ is highly relevant to the ‘Ideal Client’ or ‘target audience’ who’s seeking to use their telephony more easily and effectively.

The Lesson:  Be Relevant!
In the ADHD world of today where people may have less time to do what they want and less attention than they’d like . . . to invest in a meaningful exchange with you . . . you must be relevant or you’ll be history very quickly!

Key #1: “Have a Goal in Mind”
Anyone can create a presentation, not everyone will get a desired result.  All communications should be based on the result or outcome you’re seeking.  In business, that’s often to ‘get a sale’ or ‘move the chain’ in the sales pipeline.  But it can’t be simply to ‘communicate’ . . . a grunt will do that (and not much else!).

Key #2: “See The World As Your Audience Sees It”
“If you can show me a Tisch, I’ll give you $5,000, right now”.  If you speak German, I’m probably about to part with $5,000!  If not, I’m probably confusing you.  So ‘losing’ you isn’t far behind.  Effective communications implies getting to understand the world as your prospect sees it.  Knowing their hopes, fears, dreams, concerns, etc. is the basis for knowing what they’ll find is relevant.

Key #3: “Learn To Construct a Compelling Argument”
Most schools and universities aren’t teaching young people how to communicate ideas effectively (i.e. persuasively).  That’s a vital skill-set that’s rapidly becoming a lost art.  Good news.  If you learn how to create a compelling argument, you can move people to take action.  Often, actions that will benefit both of you.  My recommendation:  read “How To Get Your Point Across in 30 Seconds or Less” by Milo Frank.  Master what Milo is telling you and you’ll communicate more effectively than most people on the planet!

Key #4: “Communicate Consistently”
With the many distractions all around us, even a well-designed message will be ‘missed’ unless it is repeated consistently.  You’ve seen an ad on TV that seems to show up every time you watch TV?  The reason is because the marketers know you’re probably not even going to notice it unless you have a number of opportunities to see it.  Same thing with your messages.  Staying ‘in mind’ without getting ‘in face’ is an art form.  But it’s an art form you’ll want to learn and practice if you want to move people with your messages.

KEY POINT:
Being RELEVANT, having a GOAL to achieve, being COMPELLING and sharing your messages CONSISTENTLY will make you a far better communicator with prospects and clients than most of your alleged competitors!

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A System for . . . Business GROWTH

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Systems.

That very word sounds so technical, doesn’t it?  It conjures up images of NASA engineers sitting around small screens, white-shirted people in black glasses hunched over drafting tables, in large worksites, in small communities of connected cubicles.

What IS a System?
In the end, a system is just a group of related elements and coordinated actions that are designed to create a specific result.

Business Systems

Business Success Relies on Systems
In business, we have any number of systems.  Generating clients (and, the revenues they bring into your operation) can / should be a system.  Same for selling.  If you need people to run your business or practice, then a system to recruit candidates and another to select the better ones each suggest a ‘system’ as well.

Then you need to develop your new hires to perform effectively, yes?  So a ‘performance development’ system for developing your people — by training, motivating, problem-solving, etc. all suggest yet another kind of business system.  And lest we ignore operations, you probably have a system for how you manage your funds — an accounting system.  In short, whether by design or not, an effective business is one that probably relies on using systems more than one that doesn’t.

GROWTH . . . Yeah, there’s a System For That,  Too
One of the systems I find is most often not present is a system for creating growth in a business.  Yes, there’s a system for that, too.  We call it The Profit Project™
Check out a brief video on this 

KEY POINT:
Business success is no accident.  And a systems approach to achieving it makes it far more likely . . . for you!

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Skilled Expert or Valued Advisor?

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There’s such a DIFFERENCE!

Skilled Expert:  Going DEEP
Like most of us, you probably began your working career in some field — e.g. law, accounting, financial planning, etc. and developed a professional reputation and regard for ‘knowing your stuff’.  Expertise in your primary field is a foundation . . . on which to build your professional reputation and regard.  But it’s not enough if you aspire to build a long-term, trusted advisor relationship with your clients.

Valued Advisor:  Going WIDE
Building on the foundation of being really, really good at what you do — i.e. ‘solving problems for your clients’ —  you’ll next want to gain knowledge that is not directly applicable to the field of your primary expertise.

The primary value — to you — of gaining an education about topics outside of your primary expertise is so that you can see things from an entirely different perspective — unlike a skilled expert who ‘knows it all’ . . . and not much else.

An Example:  “Learning To Fly”
Some years ago I had the privilege of learning how to fly.  Fortunately, I also had the aptitude to do so effectively.  While not critical to my later work as an advisor to salespeople and managers in the financial services industry, my pilot training proved to be an ‘edge’ that other ‘equally skilled’ experts did not enjoy.

At one point, an agency manager I was working with asked me, “How will I know that my training of a producer on some skill was adequate?”  What he really wanted to know was, “When can I ‘stop worrying’ about my producer and ‘assume’ she’s developed the competency I’ve been training her to have?”.

It was a good question.  Fairly common, too.  Because of my earlier flight training, I recalled — and shared — what I learned on the day I ‘soloed’ my training aircraft.

Aviation Navigation and E-6 Flight Computer

It was a cold January day in New England.  Snow squalls were coming in from the west.  Grey, overcast day.  The kind you like to think about while you’re on a Caribbean cruise!

“Today’s your lucky day, Bill!”
My flight instructor had me doing the usual take-offs and landings (known as ‘touch-and-go’) in the airport’s landing pattern.  Nothing too eventful.  I felt I was doing OK.  “Make the next landing a ‘Full Stop’ . . .”  I wasn’t sure why.  I soon found out, though!

We taxied back to the hangar area.  My instructor opened the door and said, “Bill . . . you’re ready . . . do three take-offs and make a ‘full stop’ after each.  Taxi back to the active (runway) and do it again.  I’ll be watching you from the hangar . . . don’t worry, you’ll be fine.  Now GO!”  With that, he got out of the aircraft and walked off toward the hangar area.  I was not expecting that!  But I felt excited at the thought that today I would fly the aircraft all by myself.  Woo hoo!

The three take-offs and landings were (with one exception) ‘uneventful’ and (obviously) successful.  After my third landing I taxied back to the hangar area.  I got out of the aircraft and asked my instructor, “How did you know TODAY . . . was THE day to let me ‘go solo’?”

He told me, “Well, I sit in the right seat and I observe you.  I want to see if you’re able to hold a steady heading and altitude.  If you do, that’s evidence of your SKILL.  If you stop holding either one, I want to see if you notice.  If you do, that’s evidence of your AWARENESS.  Finally, I watch to see if you correct the situation by using the controls and power to restore your heading and altitude.  If you do, that’s evidence of your MASTERY.  Once I know that you can:

1.  make the aircraft do what it’s supposed to be doing,
2.  spot it when it’s not, and
3.  correct in a timely manner . . .

you really don’t need me to sit in the ‘right seat’ and today . . . you demonstrated all three factors so . . . I got out of your way of becoming the pilot I know you’re going to be”.

Wow!  That was brilliant.  I shared both that story as well as the lesson it taught me . . . with my agency client.  Technically speaking, learning to fly had ‘nothing’ to do with getting his producer to generate more revenues for the practice.

But it had a lot to do with helping my client become more effective as an agency manager whose success reflected the quality of skills his producers were learning from him –– just as my own piloting skills reflected my talented and caring flight instructor from many years before.

KEY POINT:
Go deep AND wide.  Deep = expertise in your primary field.  Wide = broadening experiences in other (often unrelated!) fields. You’ll be more of a Valued Advisor and . . . more difficult to replace!

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Building Your Client Development System

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fueling imageThe first function in your client development process is . . . FUELING.

Your Business or Practice is a Vehicle
You may find it helpful to think of your business or practice as a vehicle.

Vehicles are means of transportation.  As a vehicle for you, your business can take you from where you are today to where you want to be in the future.

When you think of your business as a vehicle, it’s easy to see it taking you to a well-deserved retirement, dropping the kids off at a nice college or university along the way and maybe even trailering a nice big boat behind you to enjoy whenever you feel like stopping.

Your Vehicle Needs Fuel
Every vehicle requires fuel of some kind to operate effectively.  To your business or practice, that fuel means people . . . who can help you grow your business . . . directly or indirectly.

You Need The ‘Right Kind’ of Fuel
As you know, you must be ‘choosey’ about the fuel you’ll put into your vehicle.  Putting gasoline into a diesel engine or diesel fuel into a gas engine will cause you a lot of problems — and it won’t help your vehicle operate as you expect to take you where you want to go.

It’s no different with your business or practice.  You want to begin your client development process with the most suitable people you can — assuming you want your business to operate effectively, efficiently and profitably.

You Need ‘Enough’ Fuel, Too
Your journey through life . . . from where you are today to when you send the kids to college and when you seek to retire . . . is a long ride!  Getting from ‘here’ to ‘there’ will take some doing.  And, of course, you’re expecting your business or practice will help you make the journey.

But if you lack sufficient ‘fuel’ — people who can buy or refer people to you — you may not be reaching your ‘destinations’ as you intend.  In fact, you may have no choice but to settle for less . . . a less desirable lifestyle before you retire, a less desirable college for your kids, a less desirable quality of life in retirement for yourself and your spouse.  Not a pretty picture, is it?

KEY POINT:
If you don’t have BOTH the quantity and quality of the people you need to operate your business or practice as you want, you may be working longer than you like,  harder than you want and for far less than you deserve.

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