• Home
  • Products
  • Events
  • Coaching
  • Resources
  • FEDERAL
  • Done For You Services
  • Blog
  • Contact

Small Business Marketing

The Conversion Equation

by Walter Wise

As a business owner, here’s an interesting statistic you need to be aware of. According to Forbes, 90 percent of startups will fail. And this number could be significantly higher since many business owners don’t register their businesses until they find a measure of success.

But think about this for a minute. Would you want your son or daughter to walk into a battle knowing that there was a 90 percent chance they wouldn’t make it through the day? Well of course not.

But business schools today are churning out students who know little to nothing about the nuts and bolts of growing a business.

I know people that have an MBA in business and some that have taught hundreds of business students at the university level and they all tell me that 90 percent of what is taught today is basically useless theory.

Would you like to know the secret to effective and successful marketing?

Would you like to know how you can generate all the leads your business can handle?

Because here’s a secret that business owners don’t know or understand.

You must be able to enter the conversation taking place at the head of your prospect. Or another way to look at it is to address the number one question on your prospects mind at just the right time.

So how do you do this. You know, it’s actually quite simple when you understand the fundamentals of marketing. The conversation that is taking place in every prospect’s mind revolves around two major points. There’s a problem they have and they don’t want and result they want but don’t have.

Now believe it or not there is a marketing formula that we follow that takes these two points into account and spits out a message so compelling. It practically forces your prospects to buy what you sell.

It’s called the Conversion Equation and it looks like this:

  • Interrupt
  • Engage
  • Educate
  • Offer

The Interrupt is your headline which means it is the first thing someone sees when they visit your website, reads your marketing collateral or hears you speak on an audio video or a live presentation. When someone asks you what you do it’s the first words out of your mouth. That’s your headline. And must address the problem your prospects have that they don’t want.

The Engage is your sub- headline which is the second thing your prospects see or hear. It must address the result your prospect wants but doesn’t have.

The Educate is the information you provide, either verbally or in writing that presents evidence to your prospects that you and your products or services are superior in every way to your competition. Unfortunately, most businesses don’t differentiate themselves from their competition and that’s why you must innovate your business to create what we refer to as a market dominating possession. You must make your business unique. It must stand out from the crowd. It must make your prospect say to themselves that they would be an absolute idiot to buy from anyone else but you, regardless of price.

And finally, the Offer. You must create a compelling offer that makes it so irresistible your prospects can’t turn it down. But here’s another critical fundamental of marketing. Because of the saturation of marketing messaging these days most prospects have become numb to most marketing. Following our conversion equation can dramatically overcome this. But even with this powerful tool in play it will still take multiple touch points before your prospects will buy what you sell.

For most businesses today it takes anywhere from 20 to more than one hundred touch points before a prospect makes their buying decision. Using our conversion equation reduces the touch points to somewhere between 5 to 12 points of contact.

But here’s the key. Most businesses don’t follow up with their prospects at all. And this provides a huge window of opportunity for any business that does follow up. But to have the opportunity to get your message in front of your prospects five to 12 times. you must find a way to collect their contact information and that’s the purpose of your offer.

Most businesses offer something that only appeal to prospects we call now buyers now buyers are your prospects that are ready to make an immediate purchase. And unfortunately, now buyers make up less than 1 percent of the total number of prospects that are in the market to buy what you sell.

These businesses typically offer prospects a free consultation. A discount. A coupon. A free assessment. A complimentary quote or the biggest mistake of all, their phone number. For most businesses, all of their marketing material their website their business card all lists their phone number as their sole offer and that only appeals to that one percent of now buyers the remaining 99 percent of viable prospects are invested again and gathering information about what you sell. They’re searching for information because they want to determine who is offering the best value.

You see prospects don’t shop price they shop value. And the only reason prospects consider price at all is that most businesses don’t give them any other value proposition to consider except price.

Remember what I said earlier about making your business unique and creating a market dominating position. Most businesses don’t do that. And since they and all of their competitors look exactly the same, prospects are forced to shop price.

So consider this, what if you could create a market dominating position for your business that addresses both the problems of your clients and the results you provide. And you incorporate it into all of your marketing efforts including your web site. If you did this, by what percent would that impact your business. I’ve had clients tell me that it would double their business. These are the fundamentals we teach you in our coaching program. The information we provide is cutting edge and world class. Apply what will teach you and you will literally dominate your market.

Have a great rest of the day!

Categories Lead Generation, Small Business MarketingLeave a comment

What sets you apart from your competition?

by Walter Wise

How are you different from your competition? Could they make the same claims as you do?

I was recently talking with the marketing director of a mid-sized IT services firm. I explained to her that one of our areas of focus was helping professional services firms differentiate themselves from their competition. She responded that her firm had spent the better part of the year addressing this issue and that they were well equipped to communicate their uniqueness to prospective clients.

I couldn’t resist asking her what the firm felt differentiated them from their competition. This is what she said:

1) Her firm had greater commitment to client success.

2) They were more results oriented.

3) They believed in partnering with their clients.

4) They had superior listening skills and understood client needs.

These are all well and good, but do you see the glaring problem? Any vendor on the planet can say the same things.

How are you different from all the other vendors in your area of expertise? What sets you apart? I’d love to hear what you say and how you say it.

If you would like to chat about how to differentiate your business from your competition, give me a ring at 603-262-1489.

 

Categories Small Business MarketingLeave a comment

How are you different from your competitors in the Federal market?

by Walter Wise

Given the interest in and competition for Government work, it is more important now than ever before for companies to differentiate themselves from their competition and to clearly define their area of expertise. This is especially critical for small businesses.

I see so many small businesses present themselves as larger than they are, advertising that they are the global leader in whatever it is they do and claiming a broader array of skills than is necessary to win business. I remember one 10 person 8a with 52 NAICS codes listed in SAM.GOV, everything from cattle ranching to beauty shops to IT and Scientific labs.  Such tactics call into question the firm’s credibility and depicts the firm as a generalist rather than a specialist.

What do you really do? What are your 3 -5 truly core capabilities, the things that you are really, really good at doing? Most RFPs, sources sought and task order requests require specialists. It is hard to be compliant, if you are seen as a generalist amongst a sea of specialists.

Next, how are different from all the other vendors in your area of expertise? What sets you apart? It isn’t because you have been in business since 1431 BC, or the management team has 1000 years experience, or you listen to your clients concerns or even because you have the best staff not he planet. Every business can say that, and they do! To really differentiate from the rest, you have to be able to be and say something that none of your competition can say or do. And keep in mind that it must be true and it must be believable.

By the way, by defining your true core capabilities and key differentiators, you have a solid basis for revising and updating your capability Statement.

If you would like to chat about how to differentiate your business from your competition, give me a ring at 603-262-1489.
Categories Small Business MarketingLeave a comment

What Santa Can Teach You About Marketing!

by Walter Wise

I’ve got a running challenge with one of my clients to extract business lessons from weird places.  It all started when he mentioned the book “Everything I know about business, I learned in kindergarten”. Today, I bring you marketing lessons from the man in red…

1. DELIVER ON TIME – Would we still believe in Santa if he missed a year, or came late?

2. EVERYONE LOVES A GIVER – don’t be a taker. Move the free line, and win your prospects over with your generosity.  Provide your value out front so they see you differently than they see your competitors.

3. HIRE A TEAM OF HARDWORKING PEOPLE TO MAKE YOU LOOK GOOD – Santa gets the glory, but the elves work hard to make it all look easy. Maybe you need to hire some elves. (Think hardworking and talented.)

4. BUILD YOUR DATABASE – Santa makes a list, and checks it twice. Most small businesses don’t even have a list.

5. TEACH YOUR CLIENTS HOW TO TREAT YOU – Every kid knows to leave out Milk & Cookies, and leave carrots for the reindeer. Do your clients know how to help you?

6. QUALIFY HARD – Do you grade your prospects and clients? Santa grades KIDS either naughty or nice! Which of your clients have been nice? Which prospect has been naughty. You know what to do…

7. LEVERAGE – Santa has a team of body doubles who work the crowds at every shopping center on the planet for weeks before Christmas. (While the real Santa sips margaritas by the pool at his condo on St. Thomas.)

8. LIMIT ACCESS – Santa’s got things set up, so you can’t get him on the mobile, or just see him whenever you want. You’ve gotta send your request to an obscure PO Box in the North Pole. Are you too easy to get?

9. RUN SPECIAL EVENTS – He’s the original Product Launch Formula guy. He builds massive anticipation, and even gets your kids counting down the sleeps till the big day.

10. COSTUME & SELF PROMOTION – If he just wore regular clothes, he’d be no big deal. Do you have a uniform or logo that defines you as THE go-to-firm?

11. GET OTHERS TO TALK YOU UP – His P.R. elves get everyone talking about Santa, so he never has to talk himself up.

12. BUILD A BUSINESS THAT GIVES YOU FREE TIME – With all his body doubles and the team of elves, Santa really only works a couple of days a year. Most of the list-checking is done in somewhere else these days, so he and the missus get 363 days off, which they spend in the Bahamas, the Mediterranean and Vegas.

There are business lessons everywhere…if you look for them. Feel free to send these lessons on to your clients and prospects if you think it will help them and make you look good.

To your REVENUE success,

Walt

 

 

 

Categories Small Business MarketingLeave a comment

Why I HATE this time of year

by Walter Wise

I don’t know how to say this…

Except for coming right out and saying it.

(WARNING: big boy and girl language used – if that offends you, stop reading now.)

I HATE this time of year.

For ONE reason.

And that is…I HATE watching entrepreneurs roll over another year without accomplishing anything they promised themselves LAST YEAR.

I know “hate” is a strong word…I truly feel helpless when I see people struggling…

Yet they’re unwilling to really do something about it.

Listen, nobody is saying changing things for the better is easy…

But I gotta tell you – I can’t help being ticked off when I’m around a group of people declaring how they’re going to “change their life” starting in the New Year!

First of all – you know as well as I do, most of ‘em are full of crap.

Secondly, the statistics are against us.

Check this out:

WOW – only 8% of people are successful in achieving their resolutions.

Just LOOK at the other percentages!

Remember that “top 10%” thingy everyone talks about?

The “successful” 10% of people in the world?

Well, this just shows you another perspective of why most people are NOT in that 10%.

And it’s as simple as following through on our New Year’s resolutions.

I’ll take it a step further.

It’s NOT just about New Years.

It’s about the promises we make to ourselves EVERY DAY, and BREAK every day.

I’ve seen it.

I’ve done it.

The “I have a ton of other things I need to get to first” excuse.

We have the same problems.

“I’m feeling overwhelmed.”

“I need another me when it’s busy.

“I feel like I’m flailing all over the place and will never stop working IN the business.”

I could go on and on, but you get the picture.

It’s why I HATE this time of year.

If it wasn’t for my family, the joy of freedom and being around such positive people in my life, I’d probably lock myself away until after the New Year fiasco is over.

Because I know more entrepreneurs just like you and me, are waiting for the “New Year” date to try and overcome all of it.

My advice?

Start NOW.

Really, WHAT’S going to be different in a week that will make you change your life that isn’t already within your decisive control TODAY?

Change your personal statistics.

Heck, do you want to take it a step further?

Join me in January for a Business Breakthrough Strategy Session.  Schedule it here: Book My Session

And I’ll make SURE you’re changing your stats.

I hope 2017 is a rockin’ year for you.

If you’ve read this far, I apologize – I know it’s been sort of a downer email…but I HAD to say it.

And I applaud you.

Because most people would not read all of this.

It tells me that you’re willing to listen – willing to stop the excuses and do something now.

It’s ALWAYS your choice.

Whether you do it today or keep waiting for another day.

Peace and love for the Christmas Season of 2016!

Walt

 

Categories Small Business MarketingLeave a comment

5 Essential Keys to a Successful and Reusable Marketing Campaign Launch

by Walter Wise

By Walter Wise

Here are the five essential keys to a successful and reusable marketing campaign launch. Once you have these basics down, you can use them over and over again.

These five essential keys are:

  • Define your Unique Selling Proposition (USP)
  • Put an effective sales offer to work
  • Avoid the marketing pitfalls
  • Use a world-class marketing perspective
  • Get results!

We’ll go through each one of these, so you can see exactly how to use them and how they all affect the overall outcome of your marketing campaign.

Define your Unique Selling Proposition (USP)

Take the time to ask yourself some questions from the prospective of the customers/clients. What would it take to get your attention? What needs do you have that need to be met? What are the promises you want fulfilled?

Once you know the answers to these questions you can start putting together a plan to meet these needs. Then take a look at what USP your competitors are using to help you develop your own USP. Your USP is what you are “promising” your customers/clients. This is what’s going to set you apart from your competition. Setting yourself apart is key to eliminating the “price war” mechanism in a competitive marketplace.

Put an effective sales offer to work

To develop an effective sales plan, you need to:

  1. Put together a headline that gets immediate attention.
  2. Share benefits of your products/services speaking from the customers’ perspective.
  3. Identify the specific needs met by your products/services.
  4. Make it easy to do business with you by offer guarantees.
  5. Share your specific sales proposition.
  6. Walk your customers/clients through how they should respond and act.
  7. Motivate with a call to action.

What this all means is, you need to put together what makes your products/services special and compel customers to buy. If they don’t feel like they NEED your product, they won’t buy. You need to answer a question, solve a problem or feed an obsession.

You need to provide them with all the information they need to make an informed and confident decision. Buyer’s remorse is one of the worst things that can happen.

Avoid the marketing pitfalls

There are five major marketing pitfalls many businesses fall into and you should avoid:

  • Ignore market testing and push on with an inaccurate plan.
  • Offer an incomplete case, or reasons, throughout their marketing plan.
  • Fail to notice the needs of their prospective customers/clients.
  • Fail to diversify their marketing options.
  • Fail to get market opinions on their offers.

These are all areas to avoid. If you’ve been working through these lessons, avoiding these pitfalls should be easy and natural.

Use a world-class marketing perspective

World-Class marketing perspective is important, especially if you want to attract customers/clients from all over the world. You can do this a number of different techniques and activities:

  1. Keep a marketing journal and scribble down anything innovate you see.
  2. Keep encouraging your marketing department, or yourself, to try new things and dump the ones that aren’t working.
  3. Order from your own company under a different name and analyze the process of ordering, shipping, online store, customer service and the product itself. This will show you where the areas for improvement in the customer experience.
  4. Read every quality ad you can find and keep a file for future ideas to consider.
  5. When out in public, watch how consumers behave in different situations and how they consider their purchases.
  6. Step down a notch or two and work on the front lines with your sales and customer service staff.
  7. Continuously acknowledge your staff, vendors and customers. Everyone works and shops better when they feel appreciated.
  8. Always listen to feedback from employees and customers.
  9. Continuously test markets, ads, and marketing techniques. This is the only way to stay successful and know what’s working and, more importantly, what’s not.
  10. Offer more information in your marketing than anyone else. The more information you offer, the more products/services you’ll sell.
  11. A great marketing plan can only get better. Continue to fine tune and refine your marketing plan based on testing results and feedback.
  12. Be classy in your marketing. Make sure your marketing and advertising fits your company image, products/service and quality.
  13. Improve your best marketing areas and drop those that aren’t working.
  14. Focus on what you say, not how you say it. The best marketing ideas turn into the best marketing naturally.
  15. Develop all your ads, campaigns and sales materials with an attention to compelling and factual information.

By using these techniques you can put your name out there to the world and become one of the top brands in your marketplace.

Get results!

Categories Small Business MarketingLeave a comment

Educate Your Customers

by Walter Wise

Educate them about what, you may be thinking. Well, consider this, many businesses focus solely on attracting new customers, but you NEED to spend a good chunk of your time retaining current and former customers. These are people you already know to be a good sales potential… they’ve already bought from you!

Take the time to market and sell new products to your old customers and less time trying to sell old products to new customers and you will see a drastic change in your sales, customer quality and branding position.

Here are a couple of key elements to use to retain your current customers:

  1. Stay in contact: This means by phone, email, e-newsletter, in person-by pigeon if you have too!
  2. Post-Purchase Assurance: This means you need to follow up with customers. Your customers need to feel like they are being supported for their purchase and with the item they purchased. How many times have you purchased a product, then felt completely abandoned? Something as simple as a Thank You note with your contact or customer service information can go along way in retaining a great customer.
  3. Deals & Guarantees: Always offer your current customers the best deals and guarantees you have. Show them you appreciate their business or even come up with a club specifically to reward loyal customers. You can also do this with a preferred pricing option.
  4. Integrity: Using good business practices and simply upholding integrity, dignity and honesty go along way with customers. Let’s face it, there’s a lot of swindling and crap out there and the safer and more confident you make your customers feel, the more they will trust you and that makes for an amazingly supportive and loyal customer.

Read more…

Categories Small Business MarketingLeave a comment

RECENT BLOG POSTS

  • The Conversion Equation
  • What sets you apart from your competition?
  • How are you different from your competitors in the Federal market?
  • What Santa Can Teach You About Marketing!
  • Why I HATE this time of year
© All content copyright 2018 | Privacy Statement