Archive for the 'Marketing Mistakes To Avoid' Category

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For this restaurant, it’s NOT about the food

Whenever I ask most people what business they’re in, I usually get an incoherent rambling about what they do (and they wonder why they’re struggling for new clients… but that’s a discussion for another day!) Then I ask then what’s important to their clients and 9 times out of 10 they have no clue. If only they understood it as well as this restaurant does -> it’s not about the food!

Go on and click on the hyperlink (they don’t allow it to be embedded) and then ask yourself, one simple, yet exponential question:

What’s MOST IMPORTANT to my clients?

If you can answer that question, then you know where your focus should be.

I know this sounds too simple , but watch the video again and just listen to what the clients are saying and the RESULTS it’s producing.

Case closed.

Increase Retail Sales 28%

Watch this short video that reveals how retailers unknowingly throw away as much as 28% of their sales – that is one customer for every 4 walking out their shop door… This is one of those rare videos that hits you across the head like a two-by-four… As it should! WHAM!!!!

The 4 Ways Sound Affects Us

Sexy Actresses A Case Study of Management By Metrics

In a recent BBM Magazine, I came across this article  that stated that the underrated Hollywood hotty Naomi Watts is apparently the world’s most bankable actress.
The 41-year-old, who’s hot scene in Mulholland Drive, helped the box office rake in an estimated $44 for every $1 she was paid for her last three major films. That means in terms of bang for your buck, she’s the actress producers and directors turn to. What does this have to do with Management By Metrics?

Everything. If you’re in business, what metrics are you managing? What are you tracking to make sure you get your optimal return on investment? You’d be surprised who’s on the Hollywood’s MOST BANKABLE LIST and who’s not…

Naomi Watts - Most Bankable Actress

Naomi Watts - Most Bankable Actress

The list’s top spots are notably filled by many actresses willing to accept a lower salary than A-list stars like Angelina Jolie – who was named Hollywood’s highest-earning actress by Forbes earlier this year.

Jennifer Connelly, 38 – who previously won a Best Supporting Actress Oscar, BAFTA and Golden Globe for her role in 2001’s ‘A Beautiful Mind’ – took second place making an average $41 per dollar she was paid. Meanwhile, Rachel McAdams finished third by turning low-budget films like ‘Red Eye’ and ‘The Notebook’ into hits.

Forbes.com’s Top Ten Best Actresses for the Buck:

1. Naomi Watts – made $44 for each $1 paid
2. Jennifer Connelly – $41
3. Rachel McAdams – $30
4. Natalie Portman – $28
5. Meryl Streep – $27
6. Jennifer Aniston – $26
7. Halle Berry – $23
8. Cate Blanchett – $23
9. Anne Hathaway – $23
10.  Hilary Swank – $23

This blog is all about seeing your business from a different perspective – which is called antimimeticisomorphism. When you come across different metrics in other industries, jot them down and consider using something similar in your business to determine what’s actually working versus what’s really not.

Sure Angelina Jolie may be prettier, sexier and more famous, but if you were INVESTING in a movie, who would YOU hire?

Hmmm….

That’s the point – sometimes in business we make the decisions we LIKE to make, not the ones that are the most profitable…

And you thought this was a lightweight blog post… Gotcha!

Gotcha thinkin’!!!

The Interweb Is NOT A Fad

If you are not a subscriber to my Internet Mastery Blog, shame on you. That means you missed out on this amazing YouTube video on the Social Media Revolution that I published a few weeks ago. Click on the hyperlink now and make sure you watch the video – it will shatter your preconceived notions that the Interweb is just a fad.

Money Saving Tip – Promotional Signage

By now, you know about my 1 Percent Improvement Doctrine that simply states that it’s the small things that make the biggest difference. In fact, it’s why you are a subscriber to this and my other blogs. You know that I have countless ideas, tips and suggestions to make or save you money. Like today’s simple tip that can save you 500% to 1,000% on your promotional signage.

How To Save Money On Promotional Signage

Continue reading ‘Money Saving Tip – Promotional Signage’

Boobed!

In a recent article, the retailer Marks and Spencer admitted boobing on the price of bras. Apparelently they charged more for larger sized bras…

Marks And Spencer Admits Marketing Mistake

Marks And Spencer Admits Marketing Mistake

I can only imagine how this larger-than-life group must have felt. Continue reading ‘Boobed!’

Peter The Baker Is At It Again!

This is so obvious it’ll make you smile. It’s from Peter the Baker who will be getting his website up and running soon… This is exponentially valuable for anyone who deals with people who want ‘FREE samples’…

_____________________________________________________________________________

Every week people ring and ask me what type of products I produce and just
about all of them ask if they can have a free sample… so remembering
something that you did when you had your print shops, I came up with this…

“OK I will give you a free sample if you buy a cake from me. That way you get $25.00
return free from your outlay of one cake. That way we both win. I sell a
cake and they get a sample…

If they don’t agree I don’ bother giving away $25.00!

Sometimes it’s the SIMPLEST IDEAS that create the greatest value… There is beauty in the elegance of simplicity!

How To Kill Your Business Twice As Fast

I can’t hold back, I have to get this off my chest. In the past 2 to 3 weeks several people have been struggling to get stuff done. They KNOW what to do and HOW to do it, but can’t get it done… WHY? Because they have their mates doing it at “mates rates” which basically means “when time allows, I’ll get around to it MATE…”

“She be right MATE.”

She ain’t right MATE. She’s p_ _ _ _ed!

She needs to get this done NOW, not tomorrow, not soon, not over the weekend, not next week…

NOW.

N-O-W.

When you deal with mates, you deal with being pushed to the end of the queue, at the bottom of the to do list. This is even worse during a recession when times are tough and money’s tight. The ‘high paying’, no make that the PAYING clients will get ALL the attention and ALL the results.

Stop It!

Otherwise you’re going to KILL your business twice as fast.

There, I’ve said it. I can relax and get back to work.

Don’t get me wrong, I do lots of work with mates, but I don’t expect mates rates and I pay on time to GET ON TIME SERVICE.

Think about what it’s costing you NOT to get stuff done…

Especially in a recession when the competition is tight, margins are slim and EVERY customer and sale counts…

Sales Tip #1: Transformational Vocabulary

This is the first of a series of posts on sales strategies to get you to SELL MORE with LESS EFFORT. Disarmingly simple and straight to the point, each one is designed to help you get your 1 percent improvement from your sales activities and conversations. Let’s get started shall we?

Transformational Vocabulary Sales Tip #1

Don’t replay bad sales calls in your mind or repeat them to others other than when you are analysing them for improvement. Too often, salespeople – especially telemarketers will get off a call than went wrong (the sale did not get made) and repeat it to their colleagues – this is disastrous for morale as well as a time killer that serves NO purpose other than to suck you deeper into the Vortex Of Mediocrity.

Once a call is over, make the mental and physical notes of what went wrong and what was done right and MOVE ON TO THE NEXT ONE.

Any dilly-dallying is an indulgence that you can’t afford to do.

Even if you are not repeating this verbally – STOP your negative self-talk immediately and see what happens.

This is MUCH harder than it first appears.

Sales is all about attitude – you cannot afford to indulge in this ‘popular’ habit – it’s a profit killer – like second-hand smoke – it kills the smoker as much as it does innocent by-standers.

Sticking with the smoking analogy, whenever someone around you starts blowing ‘smoke’ your way – stop them immediately – nicely letting them know you’re not interested.

How To Lose 33% Of Your Sales In 30 Seconds

As an eternal optimist, I rarely focus on the negative, but today’s an exception worth sharing. Monica and I spent 2 days at a ’boutique hotel’ on the Southern New South Wales coast this weekend. The property was magnificent, Internet broadband was fast, the breakfast sublime. So what could be negative about that?

The owners and staff had an ‘edge’ to them that each time we requested something, their tonality was such that it was felt that we were putting them out, disturbing them or otherwise inconveniencing them.

Monica and I thought it was just our acute sensory perception, but this morning at breakfast, the waitress broke the camel’s back with another guest when she ‘forced us out’ of the breakfast ‘house’. She said we had and I quote “We need you to leave so we can close up here.” WITHOUT explanation or apology.

The guest was stunned – I was stunned. Monica was stunned. Continue reading ‘How To Lose 33% Of Your Sales In 30 Seconds’

How To Sell More Services

If you’re a service business that is mandated to ‘do stuff’ for clients on an out-sourced basis and you get paid on an on-going retainer basis, you need to know the #1 reason people STOP buying from you or cancel their contracts…

Chances are it’s because you keep them in the dark – I’ve talked about this before when I posted “How you can stop losing sales in 5 minutes“.

But what I didn’t explain is that if you take this concept to the next ‘exponential’ level, you not only keep them informed, but you INVEST the time and EDUCATE them about what you’ve done.

For example:

  • If you optimise Google Adwords, you can let them know the words that have become more profitable, that convert more and or produce more back-end sales. This helps the client create SEO optimised blog posts, sales page content and/or other more effective advertising.
  • If you are a solicitor, lawyer or other legal professional and have come up with a solution to a problem that has been either overlooked or otherwise neglected by others, as part of your research or discovery process, when you explain it to your client, he/she will have a greater appreciation for your expertise and know-how and you will end up with a smarter client.

But most importantly, the EDUCATION is valued by the client and THAT is where the payoff is.

I was speaking with a colleague yesterday and she pointed to a pile of documents on her desk and said “I’ve wasted the past year taking care of refunds, claims and complaints… I hate that work, what a waste…” I then explained that what she LEARNT over the past 12 months was to do the triage of the cases that were worthy of attention and those that are not. By learning this craft, she can now use that in future roles with other clients she consults to – BUT it is a WASTE if she doesn’t use it and it is SUB-OPTIMISED if her clients don’t know she has this skill.

She could quickly and easily create a 1 to 2 page document that explains “How to quickly identify frivolous law suits” that she can then follow-up with “How to get rid of frivolous law suits quickly and effectively”.

So there you have it, a few ideas to think about…

Educate and inform your clients as much as you can and you will reap the rewards.

Whatever you do, don’t keep them in the dark.

If they are kept in the dark, you’ll be out of sight and out of mind PLUS if someone else comes around and turns the lights on, it’s ‘lights out’ for you!

I know some of this stuff is seemingly obvious, but in a recession, EVERYONE is keeping tabs on their expenses and SERVICES are the FIRST to be cut.

They are the first to be cut BECAUSE unless you QUANTIFY the value for your clients, they will never fully value what you are doing for them.

Profit Cancers May be Killing Your Sales

What would happen if your marketing worked? Answer the questions in the Business Marketing Autopsy and you’ll discover the profit cancers that may be killing your sales… Click on the banner below to access it for FREE.

Usually $297, it’s yours for FREE, until I change my mind… Which could happen at any time. Don’t wait, it’s not worth the risk to your business’ health.

Don’t make this marketing mistake

Whenever people get excited about Exponential Marketing Strategies they often make this mistake that KILLS SALES…

This mistake is MIXING UP SIGNALS AND COMMUNICATIONS that impede, prohibit or delay your sales.

Here’s an example for you: Someone (we’ll call him Frank, not his real name) created a YouTube video about how he goes about meditating and getting inspired to find new business opportunities…

He sells a CONSUMER PRODUCT which has nothing to do with his business process to come up with new product ideas.

It confuses the issue – as I explained at the encore presentation of the Exponential Internet and Business Building Bootcamp, if it doesn’t compress your Pathways To Profit™ don’t use it – it will only LENGTHEN your sales cycle.

Of course Frank has some friends that liked the video – that’s not the point. ONLY ONE PERSON’S OPINION MATTERS…

“Mr or Mrs Market”

That is YOUR PROSPECT OR CLIENT.

I can’t say this often enough – you don’t get a second chance to make a first impression. Use it wisely.

Exponential Marketers understand this and make sure each and every communication ADDS value and creates increasing reciprocity for people to do business with you.

I know these strategies and concepts are fun, but UNLESS THEY COMPRESS your Pathways To Profits™, keep them to yourself.

How you come up with product ideas, inspiration and vision is of NO CONCERN to the buyer – I couldn’t care less when I go to buy a consumable, I want the product and its benefits. I can’t go into the details of Frank’s products because this is NOT about Frank and criticising him in public – it’s about you learning from his marketing mistake and avoiding it.

Onward and upward!
Marc

P.S.

Of course there is a nuance that IF the story ADDS to the cachet, intrigue and personality of the product, you WANT to include it, but there is a fine line that you don’t want to cross.

Ask yourself the following questions:

  • “Why would anyone care about this?”
  • “How does this ADD to the sales process?”
  • “How does this REDUCE the objections to purchase?”
  • “How does this INCREASE the chance of them buying?”
  • “How does this fit into the positioning and brand I’ve created?”

It’s all about interpretation and perception – the best sounding board is to ask someone who will ‘tell you the truth – not what you want to hear, but what you need to hear…”

If you don’t have someone like this, you’ll want to consider creating a MasterMind Group – one that is educated and informed about Exponential Marketing Strategies.

Otherwise you’re asking vinyl record owners in the 1970s what they want – a vinyl record without scratches and that doesn’t gather dust on the needle – never in a million years would they ask for Internet audio streaming that they can listen to on their iPhone.

That’s why Jack has to be careful who he asks about his YouTube video… Chances are he will get steered down the wrong path because the people he asks don’t know what you know.

An Exponential Mindset is a rare skill – not known to many. That’s what makes it so powerful.

To put things in perspective, I’ll use a squash analogy. I am an A-Grade competitive squash player. Who do you think I ask for advice? Squash players or CHAMPION squash players?

That’s the whole point – be careful where you get your feedback from!