Issue #3

Power Marketing Tip!

So what! Who cares? Why your company?

Many of the people I serve are oftentimes too busy in the daily grind of running their enterprise, or they are simply too close to the situation to objectively arrive at a clear market differentiation. Some people I meet simply have their head in the sand, others in the clouds. Most stand firmly on the ground with a good head on their shoulders, and are enthusiastically trying to develop their business.

But, almost everyone struggles with developing a meaningful answer to the question I posed above. In truth, why should anyone do business with you? Would you buy stock in you if you weren't you?

I'll get right to the point with this week's marketing tip. Here's how you answer the question:

1. Ask your customers why they keep coming back for more. What is it that they enjoy about doing business with you? Pick up the phone and call your best accounts. Then do the same with your inactive accounts - and ask them why they stopped. Conduct a customer survey, or consider an industry-wide survey if your goal is to truly achieve "top of mind" positioning. (My friend, Bruce Katcher at www.discoverysurveys.com can advise you on surveys).

2. Take the time to study your industry and identify the things that really bother people. Find out what they complain about, and eliminate the top complaints. Learn what they want - and give it to them. (Domino's built an empire with "pizza in 30 minutes" because they understood what their market wanted). Read your trade magazines, journals, and venture out to a conference once in a while. Better yet... consider interviewing the best of the best in your industry - outside of your market area. Commit your entire organization to eliminating the top complaints.

3. Identify the pressing problems that your customers/prospects want you to solve for them - then solve them better than anyone else. For example, use this question as a template: "Do you know how most insurance salesmen that you do business with will ignore you for 11 months and call you on the day your policy is due for renewal? Well, we're different... and we have a portfolio of testimonials to prove our unique approach. We work with you throughout the year to ensure that your business receives the best possible insurance advice and expertise that we can offer. Your needs change over the course of the year and we take the time to make sure you know what options are available. And, we offer a 12-point guarantee that ensures you are properly covered." You get the idea. Solve their problem. Make 'em happy.

4. Hire (or contract) people smarter than you - and pay them well for making you rich. My friend Harvey Wigder can help you find smart people. www.fulcrumgroup.com Make sure that everyone on your payroll has "grabbed and oar" is rowing hard.

Here's another example. Consider using "guaranteed outcome marketing" in your business. I'll talk more about it in a future tip - but it works like this. You simply make the customer so comfortable with taking a risk that they cannot help but to take you up on your proposition. Powerful when you pour on the testimonials.

Bonus Power Marketing Tip:

Leverage Trust and Goodwill

I'll keep this short for two very important reasons.

1. I've already written enough this week, and...

2. I just want to give you a homework assignment for now. (Only for those who are seeking wealth).

Here goes: We all want to do business with people we trust, right? That's why word-of-mouth advertising is so effective. In psychological terms, it's called 'social proof'. In human behavioral terms - we're basically lazy mammals with credit cards that prefer not to think too much. If someone we respect says that something is good for us - we usually respect that advice and take action as recommended.

Think about it. John Wayne comes back from the grave to endorse Coors beer. Why do you think that Coors went through all of that trouble to get permission from John Wayne's estate? Florence Henderson is endorsing a flooring and tile center here in Massachusetts. Why? Mia Hamm is considered the top female athletic endorser in the country. She's a member of the Women's Soccer League. Moe, Larry and Curly are on the label for Panther Brewing's Stooge Beer. Why?

Paul Harvey and Rush Limbaugh endorse the Bose Wave Radio on their show. You know that Bose pays a fortune for their endorsement. Why?

Because we believe people we trust. We identify with them. We do what they tell us to do - on a subconscious level.

You can leverage this powerful marketing concept in your business. But you'll have to email me for more information.

Your homework: Start thinking about who could sing praises about you to people that trust them, who also fit the profile of people you want to serve. You can leverage other peoples' goodwill and transfer their trust to you. Trust me, it works.

Until next week,

Bob

Home | Consulting Services | e-Marketing Services | Products | Seminars & Workshops | Articles | Marketing Newsletter | Resource Center | Contact Us

JMB Marketing Group
210 Clover Hill Road
Marlborough, MA 01752

Voice (508) 481-8383
Fax (508) 481-8381
email: bobmartel@jmbmarketing.com

© 2005 All Rights Reserved
Site Design by Coyote Technologies Inc