Are you afraid of Werewolves?

November 2, 2015 by Leave a Comment

werewolfHalloween is over, and we can all put away the garlic to protect us from vampires, and we should – but won’t, put away our belief in silver bullets – the preferred way to stop a werewolf. You probably don’t believe in werewolves, but lots of small business owners seem to believe in silver bullets.

C’mon, we’ve all been there. Our finger hovering over the mouse button debating if we should click to buy this new program that will generate millions of dollars, without a list, without a product, without, I don’t know, perhaps any skills at all!

This is the silver bullet – the one thing that will solve all problems, that will guide us to ultimate business success. And, of course, like werewolves and vampires, it is a fantasy.

There is no one program that will solve your problems, certainly not one that is “NOT $5,000, NOT $3,000, but just for today, for $997…”

No, I am afraid that from the beginning of time, business success comes from a combination of hard work, a little luck, and a relentless drive to jump on every opportunity that presents itself. That said, there is a bright side to some of these “silver bullet” programs. They may provide you with some leads you wouldn’t have gotten before. They may teach you something and let you bypass one or two painful lessons.

You didn’t expect to become an overnight success by finishing one college course or term (which was probably a lot more expensive than most of these programs,) why do you expect one product or program will be any different?

Halloween is over. Put away the garlic and the silver bullets, let’s get to work.

 

Filed Under: building the road Tagged With: ,

Sales Funnels – What You Might Be Missing

April 6, 2015 by Leave a Comment

salesfunnelThe Effective Detective was lounging back in his chair examining a funnel of the type used to possibly fill a car with oil, when I entered the room. I assumed that this was the topic of the day, and unable to conceive of anything else that might be a better topic, I played along.

“Planning on changing your oil sometime today sir?” I asked innocently.

“Eh? What? Oh Watson, don’t be silly. You know I would never risk damaging my car by attempting to change the oil myself. That is work – at least in my case – best left to professionals. Actually what an interesting segue to today’s topic. Which, as you might of guessed is about sales funnels.” The Detective replied.

“I had a feeling, sir. However, I am intrigued how changing the oil in your car is a segue into the topic of sales funnels,” I responded back, a little puzzled at this turn of the conversation.

“Not the process of changing the oil itself, Watson – please don’t pretend to be so dense – but rather the funnel itself. You see Watson, many of us were trained to look at the sales funnel as a metaphor, not a process. It merely represented how the number of prospects are reduced as they move through the sales cycle. You start off with a large number of prospects – a number that shrinks as information is provided and contacts made. That however misses the point of what is currently described as a funnel truly is,” as was customary, The Detective paused giving me an opportunity to interject, or to simply request he continue.

“I’m confused sir. How does it miss the point? What else is a funnel sales or otherwise?” I asked, knowing this would trigger the explanation The Detective was so obviously hoping to provide.

“Ah Watson, a modern sales funnel, one that would be used by marketers such as ourselves, is far more complex, perhaps even more elegant. In the past, this funnel represented advertising to some prospects to get them interested, calling them to gauge their interest, sending them sales literature – brochures and the like, calling them again to make a trial close, then finally going after the final close, so that a few clients would drop out the end of the funnel.

“Today’s sales funnel would be more like a fun house maze. If you take a certain action, you may go in a completely different direction. It is not a straight path. How you respond to your prospect is totally dependent on how they respond to you. Did they open that email? Did they watch that video? A real sales funnel has multiple paths to get to the final destination – a sale. The beauty of it all? The tools to do it are all there for us to make this happen!” The Detective finished with a flourish.

“Fascinating, sir! I don’t believe I have ever thought of it that way,” I responded quite pleased with the way this had ended.

“Quite, Watson,” The Detective said, ending today’s discussion.

 

Filed Under: list building, List Management, Marketing, sales, sales funnels, segmentation Tagged With: , , , , , , , ,

Funneling Your Leads Down The Drain

February 28, 2015 by Leave a Comment

sales_funnelI was still treading lightly after the bombshell dropped during our previous discussion, so I started out rather timidly, merely inquiring as to the manner of the this week’s inquiry. “Sir, are we looking to tear down another mainstay this week, or something perhaps a bit lighter?” Well, maybe not that timidly.

“Eh, what Watson? Are you still smarting from our last discussion? Stiff upper lip man, we need to be moving on. As for this week, we are merely correcting a grievous mistake some many in our field make when looking at the concept of sales funnels,” The Effective Detective replied with just a hint of annoyance at my tone.

“Sales funnels, sir? What possible mistake could there be in examining the concept of sales funnels?” I asked, a tad incredulous, but still on guard – The Detective had sprung more than a few surprises on me when it came to settled subjects before.

“Yes, Watson. Since you seemed so certain, perhaps you could illuminate me on the subject as you see it,” The Detective asked, obviously leading me down a path I was not sure I was interested in going, but as they say, in for a penny, in for a pound.

“Of course sir. The sales funnel illustrates the process by which a prospect becomes a customer – or not. It begins above the funnel itself with the market for your product or service. You entice prospects into the top of the funnel with your initial marketing efforts. Once they enter the funnel, they are moved along the sales cycle, with some dropping out and reentering the market, and other continuing down to the final close, at which point some will emerge from the funnel as clients.”

“Excellent Watson! Succinct and clear. And unfortunately, misguided,” The Detective replied to my explanation.

“I’m confused sir. I am correct, but I am wrong?” I was now totally confused.

“Not wrong Watson, your explanation is merely misguided. Your only endgame is making a sale or losing it. That is misguided. You need to start looking at all of the directions your funnel can take you. For example, why not have your funnel direct your prospects to a complimentary call with you? If you are selling a service that requires a lot of trust like consulting, you want your prospects to see your abilities and develop confidence that you can solve their problems. The point is Watson, funnels can be an amazing sales tool. However they don’t need to be the only way to get to the close,” The Detective finished with his customary half-smile.

“So a funnel could lead to another part of the sales cycle – even another funnel!” I exclaimed, suddenly getting the point.

“Now you see it Watson, shall we get back to work now?” The Detective answered, ending  today’s discussion.

Filed Under: list building, sales funnels Tagged With: , , , ,

Why I left Infusionsoft

February 9, 2015 by Leave a Comment

Why???I realized my jaw was hanging open in a most unbecoming way, so I shut it momentarily – long enough to gather my words together to verify what I thought I had just heard.

“Sir? Perhaps I misheard you. Can you repeat yourself?”

“Of course Watson, and for heaven’s sake shut your mouth, you look like a fish gasping for air,” The Effective Detective initially answered my question with his typical sarcasm before continuing on. “You did not mishear me Watson, I have dropped Infusionsoft in favor of one of the so-called lesser alternatives,” The Detective concluded, and waited patiently for my reply.

“I don’t understand sir, haven’t you yourself said that Infusionsoft is one of the most powerful tools available for the types of processes we design and implement?” I asked, hoping that my mouth had ceased opening and closing spasmodically.

“I have indeed Watson. And I stand by that. Don’t misunderstand Watson, I am not leading a rebellion against high-powered software that admittedly costs a pretty penny. If someone is using Infusionsoft to its potential, and truly benefitting from it, by all means stay with it!” The Detective answered.

“Then why would we switch, sir? I admit I am finding this quite confusing,” I mumbled.

“Watson, while I must admit it was a hard decision, when I analyzed our own lead attraction and sales funnel system, I felt that Infusionsoft could be a bit of overkill. I will also confess to some consternation over them working towards becoming “Swiss Army Knife software” – doing lots of things, all of them competently, but none of them excellently.  But lastly and most importantly, our clients, Watson. Are many of them best served by that particular software package? I think not,” once again The Detective paused to allow me to interject a comment.

“But aren’t there features that are critical to implementing our system sir?” I asked, finally regaining my composure.

“There are, but features can be duplicated either by human processes, or outside intervention via our own software solutions. We can tie into these supposed lesser systems, and I think that most of them hardly deserve that title. It is simply a matter of working out the processes and designing both a manual solution, and then a software solution. The result will be a cost-effective way to implement the proper processes in one’s business without driving one crazy,” The Detective concluded.

“We will be discussing these processes in this space of course?” I queried.

“Watson, do you have even a shadow of a doubt that we will be discussing this extensively?” The Detective asked, looking incredulous.

“Of course not sir, but you have already dropped one bomb on me today…”

“Hush Watson, we have work to do and word to spread,” The Detective smiled, ending our conversation for the day.

Filed Under: Change, List Management, Marketing, software, technology, Uncategorized Tagged With: , , ,

Marketing Lessons From Ancient Rome

October 17, 2013 by Leave a Comment

ostia“Watson, I had the most interesting insight when visiting the former Roman port of Ostia Antica a few days ago,” began The Effective Detective, taking charge of our conversation at the start, as he has done a few times in the past.

“Former port, sir?” I asked, dreadfully ignorant of Roman and Italian history, I had no idea if Ostia Antica had become a former seaport in recent or ancient times.

“Ah, Watson, I see we need to work on your classical education,” The Detective jabbed at me, then continuing on before I could respond, “Ostia Antica was abandoned by the Romans some 1,500 years ago when the path of the river Tiber changed after some particularly bad flooding. Remarkably it has sat relatively undisturbed, and intact for centuries.”

“What caught my eye was one section of the town described as the Piazzale delle Corporazioni or Square of the Guilds. This was where the importers and exporters would ply their trade. Some of course advertising goods they had brought in, some buying goods to transport outside of Rome, and some advertising the transport of such goods. Nothing out of the ordinary you might say, being that Ostia was a port. There were two things that I found interesting and of course a lesson for today,” The Detective paused, obviously hoping I would inquire as to the content of the lesson. As always, I decided not to disappoint.

“So what was the lesson we could learn from the traders of 1,500 years ago?” I asked.

“As I said, two things that I found interesting. The first was the competition, ringing this square were 60 “booths” – for lack of a better name. Imagine slugging it out on a daily basis when your competition was not just in the same town, but physically right next to you trying to entice customers. Those merchants must have been able to express why they were better than the guy next to them with no hemming and hawing. Either you could make a concise and compelling case or your prospect moved over 15 feet to listen to another pitch. They had no choice but to be able to make their case in a matter of seconds, and make a compelling one at that. Today, how often do we hear people who expect you to listen to a message that goes on and on? Definitely something to be learned there.

“The second and even more interesting lesson was the other way that they marketed their products and services. With pictures! They knew that not all of their prospects would be literate, so they not only would spell out what they offered in Latin, but in mosaics inlaid in front of their booths. Of course they sometimes indulged in a small bit of exaggeration: showing their boats protected by Neptune himself or how they can overcome sea monsters, but I imagine like exaggerations today, such things were taken with a grain of salt by the prospective buyers. The point was they made sure that anyone coming into the square no matter what class or level they came from would understand what they offered. Simplicity of message!” The Detective concluded.

“A most fascinating history lesson, sir!” I exclaimed.

“And an exhausting one as well, Watson. It was quite the trek around Ostia. Let us continue our discussion at another time,” The Detective said, ending our conversation for the day.

Filed Under: branding, competition, content, Marketing, sales Tagged With: , , , , ,

There are ALWAYS options

July 1, 2013 by Leave a Comment

future“Sir, I have a concern,” I stated, kicking off yet another Monday morning conversation with The Effective Detective.

“And this is news, Watson?” The Detective asked, turning lazily to look at me.

“Perhaps not, but that does not change the fact that I have the concern,” I replied, then continuing so as not to be interrupted or lose the thought, ” It seems that for most small businesses and almost certainly for solo-preneurs, email marketing is the only economically viable alternative, which tends to longer ramp up times.”

The Detective looked at me speculatively for a moment, before responding. “What a marvelous observation, Watson. It is of course for the most part incorrect, but still you are to be congratulated for picking up on a common concern.”

Irritation flared, but when I looked again The Detective was out-and-out grinning, and I avoided reacting to the deliberate chain pulling, realizing that was simply a cost  of being his assistant.

“Ah, then perhaps you could enlighten my poor ignorant soul, sir,” I shot back with an equally large grin.

His grin stayed for a moment, then faded as The Detective turned serious, and started his explanation.

“You see Watson, we small business marketers as a group have a tendency to try and model organizations far larger than ourselves. The result of course is frustration, and sometimes foolish investments in marketing vehicles that have no hope of generating enough revenue to cover the costs. For the sake of brevity, let us examine one in particular: direct mail.

“Research shows that the typical direct mail campaign has response rates between one half of a percent to perhaps 1 or 2 percent. Due to these response rates, the volume that must be sent out tends to be fairly large; in the thousands or tens of thousands. With printing costs and postage, one can easily run into the tens of thousands of dollars in expense. Something the average small business, two or three-man shop, or solo-preneur can ill afford.

“However there are ways to radically increase the response rates. Using 3D mailers or “lumpy mail”, as it is called, boosts the response rate by several points. Who can resist opening something that rattles when you shake it, a garbage can or a message in a bottle?

“The single best way to increase response rates though is to follow-up with a phone call. This of course is dependant on two things. First, you have someone willing to pick up the phone and make the calls, whether it is you, one or more of your people, or a firm you contract the task out to. Second, you have a definite goal in mind for the result of the call; an appointment, a sale, a follow-up call to further develop interest.

“By increasing response rates to far more acceptable rates by using either or both of these techniques, you can send out far fewer pieces, thus reducing the overall cost, even at a fairly high per unit cost,” The Detective paused characteristically to give me time to respond.

“So a small business could actually send out just a few hundred direct mail pieces, and turn a decent return on their investment,” I ventured.

“I believe I just said that Watson. The return on the investment is totally dependent on the price of the service or item being sold. If you are selling cheap buck and half sunglasses, this might not be the best idea. I would be hesitant to use this method to simply build a list, but like anything else, one must weigh the payback against the costs. Shall we move on to another of your observations Watson?” The Detective answered before turning back to his computer.

“Next week will be fine, sir.” I answered.

Filed Under: list building, Marketing, sales Tagged With: , , , ,

What’s in a Word?

April 1, 2013 by 1 Comment

list“Sir?” I prodded, interrupting The Effective Detective’s reverie.

“What?!” the startled detective exclaimed, “Oh Watson, what can I help you with,” regaining his composure after almost jumping out of his chair.

“I don’t require assistance at this moment sir, but I am puzzled about something. I guess you could say I consider it a mystery,” I said, so absorbed in my own thoughts, I didn’t even notice The Detective’s reaction.

“Well Watson, you have started today’s discussion, pray continue with details of your ‘mystery’,” The Detective answered, warming to the challenge.

“Ah, yes sir. You see what puzzles me is what seems to be a misunderstanding of the use of the word ‘list’. I have noticed often in your and others’ presentations that when that word is used, confusion seems to set in. It is as if the word has no meaning, or at least no meaning in the marketing sense,” I explained.

“Ah Watson, you have picked up on an interesting situation. One where the same word can have two different meanings depending on the audience. If you mention that word to an Internet marketer, there is no confusion, they know and understand of what you are speaking. However, I too have noticed the confusion in the eyes of brick-and-mortar product business owners, and professional service providers – even the ones that consider themselves virtual, at least in terms of their office location.

“To the Internet marketer, their list is the heart of their business. It is the thing that allows them to exist, and it is to be nurtured and developed above almost everything else. Unfortunately, too often, to lets call them ‘real-world’ businesses, the ones that see their customers, interact with them directly, their ‘list’ is much more akin to an accounting device. It allows them to calculate profit and loss on an individual basis. It allows them to claim a following in their marketing,” The Detective stopped here for his characteristic pause, designed to give me a chance to interject something that would spur the conversation on. Of course I obliged him.

“So they claim a following in their marketing, instead of marketing to their following?”

“Bravo Watson! An excellent line indeed. You’ve hit the nail on the head! What most non-Internet businesses do is constantly market to the universe of people who aren’t really aware of them, hoping that the message will strike someone’s fancy who is also in the market for the product or service at the precise moment it is being advertised to them. Whereas the Internet marketer will market their wares consistently to the universe of people who are aware of them – the list, knowing that even if now is not the time, next week, next month or perhaps even next year might be, and through consistent contact they will be there to serve,” The Detective responded.

“And to the universe of people not aware of them? Are they ignored?” I asked.

“Elementary dear Watson, they are marketed to as well, how else will you build the list? If, by chance they are ready to buy today, wonderful! But, if not, that is okay as well. They are invited to become part of the community, and will be given many other chances to purchase something,” The Detective answered patiently.

“So it is a constant series of sales pitches?” I asked, imagining a never ending barrage of advertisements to a helpless list armed only with a wastebasket and the delete button on their computer.

“Bah! Watson, that would be suicide for the business. However, that discussion is for another day,” the Detective responded forcefully.

“As you wish, sir.”

Filed Under: building the road, content, list building, Marketing, providing service, sales Tagged With: , , ,

Just What is Unique?

March 4, 2013 by Leave a Comment
Image courtesy of digitalart / FreeDigitalPhotos.net

Image courtesy of digitalart / FreeDigitalPhotos.net 

“Sir, how does a business handle competition?”  I asked The Effective Detective, launching today’s discussion.

“An interesting query Watson, but unfortunately a tad vague. Can you perhaps make it a little more specific?” returned The Detective.

“Well, I guess the question is more how does one distinguish oneself from the competition when one is in a very similar business that provides similar results?” I re-asked the question, narrowing the focus as The Detective requested.

“Ah, a much better query Watson. I would surmise you ask because the conventional wisdom today is that you need a USP or Unique Selling Proposition to succeed,” The Detective began, pausing for me to confirm or deny the basis for the question.

“You surmise correctly sir.” I answered.

“Excellent Watson, I have been pondering that very question myself!” responded The Detective heartily.

“And, sir?” I prompted.

“Ah, elementary my dear Watson. There are actually two responses. One direct, one a little more indirect.

“The direct response is that there is some confusion as to what it is that actually must be unique.  From what I have observed, the most common belief is that your uniqueness is tied to your process. This is especially true in the service professions,  consulting/coaching in particular.

“The conventional wisdom is that you need some new and creative breakthrough to get the results your prospects desire. Maybe you have a new, never before done way to generate leads, or motivate people. If you have such a thing, congratulations, but my observations are that such unique breakthroughs are fleeting as people will rapidly reverse engineer and copy them. You can try and delay the inevitable with lawsuits and such; something that larger companies seem to take delight in doing, but that is horribly expensive and inefficient.

“The reality is that what makes your business unique is most likely you. I recently read that a large percentage of Tony Robbins franchisees don’t do all that well. That actually makes sense. They aren’t presenting anything unique, and in particular, they aren’t Tony Robbins! However, I suspect if you looked more deeply you would see that some of Tony Robbins’ disciples do quite well. Why? Because they take what he has given them to teach and made it their own. They have injected their own personalities into the material. They have their own presentation style. They may change the emphasis from one point to one they feel is more key to success for their particular client. The specifics don’t matter. What is unique is the service provider themselves; that is where the connection with the customer will be.

“Which leads us straight into the more indirect point. Simply put, if you can out-market the other providers in your space, you will win far more than you will lose. You will develop the relationship with the prospect, you will prove to them that you can solve their problem, and you will show yourself as a trusted partner. If you can do a better job of marketing than your competitors, if you can be in front of your prospects more often and with relevant content, then it is possible your USP could be simply that you were there for them when they needed you,” The Detective took a long breath as he concluded.

“You do need to deliver on your promises though, sir,” I added.

The Effective Detective raised an eyebrow. “I can always count on you to state the obvious, Watson.”

“Thank you, sir.”

Filed Under: competition, content, Marketing, providing service Tagged With: , , , ,

One Thing to Bring Them All and in The Business Bind Them

December 10, 2012 by Leave a Comment

The Mystery of the Marketing Trilogy Part 3

“So Watson, when last we met you had deduced that something was missing. We had provided a ‘Why’ our prospect should be interested and we had told them ‘What’ was required to address said ‘Why’. Yet, something was missing. Now what would that be Watson?” The Detective prompted.

“Well, sir, how would I go about doing this ‘What’ that you described?” I asked.

“Exactly, Watson! The How! The third part of the trilogy! That is what some percentage of your prospects will pay for! Once they understand why this is important to them, and what to do, some will not possess the knowledge or skill to know how to go about doing the ‘What’; some of them will just want someone to do it for them.

“Without the first two steps though, the ‘Why’ they should care, and the ‘What’ to do to address it – and this content is so often missing from presentations, you cannot build the urgency, and you cannot build their trust and confidence in you. Many presenters are so afraid that some people will go off on their own, that they actually give virtually no content, mostly just teasers. What they don’t realize is they are driving away a large number of people, because they do not make their case convincingly.” The Detective finished with a flourish.

“But sir, what about the ones that think they already know how, and go off on their own without taking you up on your ‘How’?” I interjected.

“Well Watson, those people will generally break into one of two camps. The first we will call The Successful Doers. They will scurry off with the information you have given them, execute on it, and most likely will encounter some, or possibly a good amount of success. They will often return to you for more information, and may just encounter something you are offering that they can’t do for themselves or will see the wisdom in working with you, and feeling that you know from whence you speak, engage you to help them. The second we will call The Not Ready Yets. Their businesses or lives may not quite be ready for what you are offering. They may not be able to afford your service or product, or are still debating the value. They will most likely dabble a bit with what you have given them, and have just a  small amount, if any, success. They also have a high probability of returning for other pieces of information you are giving out, and hopefully at some point they will find a price point they can handle, or encounter just enough success to properly engage you and will move forward like The Successful Doers.”

“It seems like a distinctly win-win situation, sir.” I said enthusiastically.

“Admittedly Watson, there is a third camp: The Takers. They will always come to hear you, take what you give, and never become your customer. Luckily, they are more rare than you would expect.

“The overall effect though is quite advantageous to all parties. Your audience gets ideas to work with, and if they desire, the help they need, you gain a well deserved reputation for being knowledgeable in your field, and most likely, more than a few clients. A definite win-win.”

“An objective well suited for a professional, sir,” I responded.

“Quite so, Watson, quite so.”

 

Filed Under: data, Marketing, providing service, sales Tagged With: , , ,

The Mystery of the Marketing Trilogy Part 2

December 6, 2012 by Leave a Comment

“What, sir,” I began, hoping for a reaction.

“In regards to…” The Detective replied, trailing off in anticipation that I would explain myself.

Wanting to, but in the end unwilling to extend the game, I replied, “What, sir, is the second part of the Marketing Trilogy, which you are expounding upon.”

“Ah, yes, quite right Watson!” The Detective recovered, and quickly moved into the explanation.

“The What is the tricky part, and the one that so many marketers seem to fall short on. Once your prospects know why they should be interested, the what is literally telling your audience what they need to do to solve their problem. Outline the process. Tell them what they need to do!” The Detective exclaimed.

“By providing a solution you are establishing that you truly know what you are talking about, without having to go through the drudgery of say writing hundreds of articles that, sad to say Watson, are most likely going to get lost in the noise. That said, I cannot in good conscience claim writing and speaking – in the multitude of presentation forms and venues available,  should be eliminated from your ongoing marketing process. However, by directly providing truly rich and most importantly, useful, content you gain the added bonus of building trust. No one feels like you pulled a bait and switch on them. You told them why something was a problem, and what they should do to resolve it.

“But sir, aren’t you giving away what you are trying to sell? Won’t some of your audience just run off with your ideas?” I asked in consternation.

“Ah Watson, that is the beauty of this methodology, and the most difficult part. Telling someone WHAT they must do does not necessarily end their pain. Tell me Watson, if I said to you that to conduct an effective email campaign you must first review your list and segment it demographically, then design a content delivery process with a mixture of usable content and sales promotions utilizing an automated tool, did I or did I not tell you what you must do?”

“Yes, sir, but there is something missing.” I answered cautiously.

“Precisely Watson! And exactly what that something missing is we will review in our next discussion,” said The Detective, effectively ending the discussion for the day.

 

 

 

Filed Under: data, Marketing, providing service Tagged With: ,
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