The 3 M Marketing Formula

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Think of ‘Sticky Notes’ and you probably think of the “3 M” corporation where that office staple was first invented.  But today’s post is not about yellow notepads.  Instead, the 3 M’s of this post serve as reminders of what is truly a basic and highly effective marketing formula . . .

M . . . Market 
Effective marketing requires that you know who you’re seeking and who, in this day and age of social media, might be seeking you!  More marketing is flawed from the beginning because there’s no clarity about WHO you’re seeking to attract — at least at first.

M . . . Message 
Regardless of the medium you use, effective communication always involves a message that resonates with the market member you’re seeking to attract.  Generally, this means speaking more about the issues that concern your prospect and less about the features and benefits of your service.

M . . . Movement
Assuming your message captures the attention — and interest — of the person/s you’re seeking to attract to you, you must invite ACTION!  In fact, it’s called a ‘Call To Action’ for just that reason. This means an offer of some kind.  And in the case of a service, your best offer involves useful information in exchange for someone’s permission to begin a cultivating conversation so you can become the ‘preferred provider’ you want to be.

KEY POINT:
Marketing can be complex or simple.  Just remember the “3M” approach and you’ll keep it simple and . . . highly effective, too.

 

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How To Be More Like-able

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It’s an endless quest, isn’t it? Here are some ideas on how to do it effectively:

Enchantment - Increase Likability

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Lunch and EARN!

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Thriving in a Difficult Economy?
In case you missed it, the last 3 years have been tough.  The stock market crash in ’08 and the weak economy since then have made staying in business a challenge.  So how then does a business actually thrive in such times?  Is there a secret?

Reston Limousine Figured It Out
In 2008 Reston Limo and Travel, a Virginia limo company, was seeking a way to remain viable and (hopefully) profitable.  Like many firms, Reston Limo and Travel needed more sales.  That’s when Kristina Bouweiri, the CEO decided to implement a novel idea. She started taking her best customers to lunch.

Client Appreciation Event — “Let’s Do Lunch!”
Kristina selected 250 clients whose past business suggested significant and profitable future opportunities.  These clients were then invited to a client appreciation luncheon to thank them for their past business.  To create urgency, only 50 people would be accommodated.  All seats were taken quickly.

Alliances Were Key
Once the luncheon was set, Kristina solicited other firms to help share the cost — in exchange for being a sponsor and gaining prestigious access to these top decision-makers.  Eventually, these sponsors promoted one another to their respective clientele — thus leveraging the  relationship capital inherent in the sponsors clientele.

Lessons Learned
One discovery was that ‘price’ was not a significant factor in determining which company would be hired.  However, ‘reliability‘, was.

Kristina also learned that different people in the same company hired a limo company independently of one another.  That prompted Kristina to find and support a ‘champion’ in each client company who would help raise awareness of and preference for her company within that client firm.

Valuable bonding with clients, marketing insights and aligned actions resulted from these luncheons.  So much so that they’ve become a monthly event for the last 2 years.  Why?  It’s WORKING!! . . .  to build relationships, revenues and profits for Reston Limousine and Travel.

KEY POINT:
A challenging economy demands a creative response . . . the more you involve your clients AND strategic alliances in your marketing, the better off you’ll be

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Elevator Speech? Give it UP!

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Next to ‘public speaking’, what’s the next big ‘fear’ of most businesspeople?  If you guessed, “Answering the question, “So, what do you do . . . hmmm?”

Lately, I’ve grown weary of the ‘cute ‘n creative’ responses businesspeople tend to give.  Nothing wrong with ‘Elevator Speeches’.  But often, nothing very unique about them, either.

Cut To The Chase . . . But Engage, Too
Here’s a refreshing alternative.  State what you do as succinctly as possible but include a follow-up question that engages the other person’s mind and, hopefully, invites them to have a conversation with you as a result.

“I _______ for a living . . . Let me ask you a question . . .”
For example, “I repair foreign cars for a living . . .”  Then, ask a question that invites further conversation, “Let me ask you a question, do you own a foreign car?”  They’ll either say, “Yes” or “No”.  Either way, you have an opportunity!

(No) “Very common. A lot of people don’t.  And I bet you’d never consider owning one in the future either, right?”  “Oh, really?  Gee, why do you say that?”.

(Yes) “Congratulations. They’re not for everyone.  Tell me . . . in your opinion, what’s the best and the worst thing about owning a foreign car?”

Either way, you are providing the other person with a way to:

1) know something about you that was previously UN-known to them, and
2) use that ‘new’ information to help them have a meaningful conversation with you

This will produce much better results than a cute statement that leaves people wondering what it is you ‘really’ do and, more important, what you’d like them to do with you . . . next!

KEY POINT:
Be short and direct . . . and always ask an engaging question as well 

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Service that Makes Me Smile!

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I don’t usually tout some company or person.  The implications are often misunderstood or taken to be an endorsement beyond what was intended.  But today, my first day back online and with power since early Sunday morning, I had a great experience with a Matthew Smith over at BigContacts.com.

I’m publishing my note to Bob Walton, Founder of the company because I hope it helps him and BigContacts.com.  But I really hope it enlightens you, my readers, about what ‘good service’ looks like and what it does for all the parties involved — the consumer, the company and the brand.  Enjoy:

To:  Bob Walton, Founder / BigContacts.com

I just had a great call with a Matthew Smith of your organization.  I had to recognize him as a super ‘Brand Ambassador’ for your company.  You’re very fortunate to have him making contact with people like me . . . a prospect for your organization.

Matthew’s responses to my questions were forthright, accurate and helpful.  But mostly, his attitude was most definitely customer-centric.  In a world where service is a lost art and a forgotten element of differentiation . . . Matthew Smith did you really, really proud today.  

I will be working more diligently to ‘test’ your system (kudos on your thoughtful website and design — most impressive, too!) and intend to reach a decision this week.  Not that it should make a difference, but if the other system I’m considering is ‘as good’ as your system, I will go with BigContacts because they don’t have Matthew Smith working for them.  

I may not have the good fortune to reconnect with Matthew again, but the fact that your management was smart enough to have him working for you in the first place tells me that you make ‘good decisions’ and that . . . is what makes all the difference in the world to a consumer like me.

Thank you . . . after surviving a couple of days without electricity, running water and limited ability to move around after our encounter with Hurricane Irene, speaking with Matthew was a true pleasure and a most thankful experience in the wake of a couple of really not-so-fun days of bad weather and no power.

Cordially,

Bill

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Negative Feedback? Oh, Thank God!

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Seriously, do you like to hear a client complain about their experience with you or your business?  I doubt it.  But it does happen.  How you respond to these ‘bumps’ in your client relationship road may help you turn them into marketing gold.

Here are some points to keep in mind to make the most of these ‘moments-of-truth’ that may have gone bad:

Welcome Negative Comments
The expression, “Don’t shoot the messenger” is very true here.  Your client is giving you a GIFT . . . of insight that you may not have known and might never learn . . . except from the symptomatic loss of clients and revenues that a problem may suggest.  Don’t turn off this excellent source of insight that, used properly, can help you build a better business experience and increased client loyalty to your firm and brand.

Respond Quickly and Effectively
Another expression.  “Actions speak louder than words”.  What you DO to recover from a compromising experience speaks volumes more about whether you care about your clients than any boilerplate copy in your marketing collateral.  Use these difficult but important ‘messages’ to show you care and DO whatever is necessary to demonstrate that to your clients and all ‘fans’ of your brand.

A Little ‘BAD’ Generates a Lot of ‘GOOD’
If all you hear are good things about anyone or anything, you’re probably going to discredit the comments and the legitimacy of the firm.  But if you have some not-so-perfect comments made along with positive ones, your credibility factor will rise like the temperature on a July day!  Just make sure any negative information is a small percentage of the total and show that you used the comments to respond effectively.  That . . . is a winning strategy.

KEY POINT:
Negative comments are blessings in disguise — Welcome them and Respond to them  

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Reconnect!

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 Ok, this may seem radical to suggest, but . . . do you have someone you’ve known for awhile . . . in the course of your business . . . whom you haven’t spoken to in some time?

If so, may I suggest you re-connect with them?  A phone call is best. An email will work, too. When you make contact, just ask:

• “How have you been?”
• “What’s happening in your world?”
• “What are you working on lately?”
• “How might I possibly help you?”
• “Who might I know that you’d like to meet?”

You’re sharp.  You probably picked up on the focus here. It’s not about you.  It’s about the person you re-connect with, OK?

What can happen when you do this?  Almost anything!  Mostly good.  I’ve had clients tell me they found work, referrals to people they’ve been trying to reach for months, insights they needed, answers to problems they hadn’t been able to solve . . . you get the idea, right?

KEY POINT:
Reconnect with people you haven’t talked to in awhile — good things await you when you do! 

 

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When Salespeople ATTACK!

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Hawks . . .  Attacks . . . and Lead Conversion
I live in the country.  Deer, fox and other critters are frequent visitors on our property.  We also have a family of red-tailed hawks who patrol regularly — mostly in search of a quick meal due to our abundant supply of field mice.  The hawks are amazing.  Graceful.  Powerful.  Skilled aviators.  Deadly hunters.  I first see them flying in slow circles over our property.  Suddenly they swoop down to catch a hapless mouse and be off again before you know anything happened.

Hawks Not (Always!) Needed
Recently, my wife and I were seeking to buy some new furniture.  We visited a couple of stores.  But we didn’t buy.  The salespeople would ‘hover’ over us — like hawks seeking a snack — and it didn’t go over well with my wife.  She was a ‘looker’, not a ‘cooker’ . . . i.e. someone who was ready to buy.

In the end, we did find a furniture store that had a ‘no hawks’ policy.  We dropped a lot of money within 10 minutes of arriving there.  Why?  They didn’t hover and they didn’t go for the kill.  They sized us up and acted . . . appropriately.

Don’t Treat Prospects Alike
In marketing — and selling — it’s important to learn what someone wants from you and how they want it.  You can’t treat all prospects alike because, well . . . they’re not all alike!  Some are ready to buy today.  Some are not.  You must discern which is which and act accordingly.

KEY POINT:
Don’t treat all prospects alike — treat them appropriately  

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“If there ever came a day when . . .”

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August 24, 2011.

Steve jobs resigned as CEO of Apple.  It was the right decision.  It was an unselfish decision.  It was a tough call to make.  And, to take, as well.

“I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple”s CEO, I would be the first to let you know. Unfortunately, that day has come.”

Steve has cancer.  He was in remission. But it returned.  That’s what he’s referring to when he says, “. . . if there ever came a day when I could no longer meet my duties”

Succession . . . Reflects Leadership
Institutions that go on and on . . . the British Royalty . . . the US Government . . . Apple . . . all recognize the need for succession planning.  It’s akin to drafting your will.  It’s your acceptance of your fragile mortality that we all understand and yet, most  find difficult to acknowledge.

In your business, anticipating the inevitable — and acting accordingly — is ‘good business’.

If your business is to enjoy an uninterrupted existence, you must plan for it.  That means you must PLAN.  Not only for your annual objectives and daily tasks, but for it’s perpetuation over time.  With you and, alas . . . without you, too.

KEY POINT:
Business perpetuation is never an accident — it reflects both strong leadership and your ability to have a plan in the first place.

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Social Media: Conversion and Community

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CONVERSION
Once your activity with social media attracts people to you . . . via your blog posts, your tweets, facebook fan page updates, etc. one of your goals must be to convert them from an unknown visitor into a recognized person or fan.  Why?  Because if you don’t learn who cares to engage in a conversation with you, it’s going to be difficult for you to sustain an ongoing connection, isn’t it?

Also, unless someone reveals who they are to you, they also aren’t giving you permission to engage with them.  If nothing else, remember this . . . “Permission = Attention”.  If someone isn’t telling you who they are, they aren’t likely to sustain their attention on what you’re saying online.  You need something to do this . . . it’s called an OFFER OF VALUE . . . and valued CONTENT (e.g. a ‘whitepaper’) works great for doing this!

COMMUNITY RELATIONSHIPS
Call them fans or followers, the real value of social media is the creation and maintenance of a community of people who care to hear what you’re saying online and who (presumably) care about what you do in your business.

Finding and keeping a group of engaged fans . . . via facebook, LinkedIn, Twitter or any other social media is an effective way to market your business and an efficient way to grow it, too.  Why?  As your follower or fan-base grows, you’re being exposed to their network connections too.  If you have 1,000 fans on facebook and each averages 50 fans of their own, you’re being exposed to 50,000 people — with each post and a simple click of your mouse.  That . . . is why your community is such a valuable asset.

KEY POINT:
Learning who ‘knows’ and ‘likes’ you and then building a relationship of ‘trust’ with them . . . is truly priceless marketing! 

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