Is Direct Mail Out of Date?
With the advent of email and the current disdain for junk paper mail, is the practice of Direct Mailing out of date for small businesses? Well, yes and no. Actually, done correctly, Direct Mail can be very successful, not only because it is a real novelty in an email world, but because of the way you use it. It depends on three things: What you want to send, Who you want to send it to, What kind of services you are offering. Think of Direct Mailing in two forms: Speed Dating and Marriage Proposal.
Speed Dating:
This works very well for a retail business model and certain services such as plumbers, electricians, painters, etc. You don’t need to target a certain small market as just about everybody at one time or another will need your product or service. You mail out 10,000+ postcards to a geographic location, aka anybody with a pulse. You can purchase ready made lists. Your offer is all about the best price and the best deal. It’s a sales campaign with no expectation of customer loyalty until the next direct mail campaign. Your profit is based on volume. Postcards and coupons are effective and inexpensive.
Marriage Proposal:
This is for high end products and services. Rather than postcards or coupons which studies show don’t work well in this market, you mail out a Sales Letter instead. You do not mail to a geographic or zip code destination. Instead you mail to a small but targeted market of pre qualified potential clients. You offer high end services and products to those who are looking for value and a continuing mutually beneficial business relationship: a marriage rather than just a date.
Why the difference between Postcards or Sales Letters?
Postcard and coupon direct mails typically get a .5% return. That’s OK because the mailing list is huge. The mailing list is typically by geographic location or zip codes so postcards work well for low end products and services. The list is RESIDENTIAL. The postcard or coupon can be posted on the refrigerator- It’s all about price or, how soon they can get there!
Sales letters may bring in a lower response, but the cost of your products and services are higher and your target is BUSINESS OWNERS. Your customers are specialized, pre targeted for their likelihood of need and are looking for more than convenience. They want value and are willing to pay for it. They want trust and a continuing mutually beneficial relationship. A Sales Letter, written correctly, can give you as much as a 25% return. But remember, even a 5% compared to a .5% return on your high end service will be worth the time and effort. Now that you know what to do, how do you do it?
What’s in the envelope?
First of all, what’s ON the envelope? The hardest part of Direct Mail is getting the customer to open the envelope in the first place! Always hand write the envelopes. That alone will make it unique and irresistible. Secondly, a short “See what’s inside” note on the outside is what advertising guru Bill Glazer (Outrageous Advertising) recommends for a successful mailing campaign.
Inside your envelope is your Sales Letter- Remember, it’s not about you, it’s about THEM!. The classic sales pitch is: 1. Identify their need, 2.Describe their pain, 3.Offer a solution, 4.Call to action. Now that’s irresistible! Include your brochure and flier too.
Now what?
Follow up! While personal calls or emails to a 10,000 mailing list is not only impractical but impossible, you can follow up to a small targeted list. Statistics show that 90% of small business do not follow up on their marketing and advertising. So doing so will put you in the top 10%! Yes, it’s hard work. Yes, it takes time. That’s what it takes to create a successful marriage and that’s what it takes to create a successful business. Go kiss the bride!
How To Grow Your Business In A Slow Economy
Every business experiences slowdowns at one time or another. Right now, there is not only a slowdown, their is downright malaise. I believe it is a collective emotional depression, fueled by the news media’s relaying every message of doom and gloom possible. If it’s not war, its the economy and now, sadly the grim reality of the Gulf oil spill. Not only does it paralyze us with fear, it creates a sadness that kills initiative. Seemingly hopeful messages that the economy is “about to pick up”, merely slow it down even more as investors wait for everything to finally hit bottom, dropping the other shoe, so to speak.
Customers are holding off on selling their homes, buying goods and services, starting home improvements. We’re cutting back, canceling subscriptions and memberships and forgoing travel. We seem to have pulled in our nets, waiting for better weather. Seems like the right thing to do.
Just remember that business is all about cycles. The wheel, albeit turning slowly, will turn upward once more. It simply has to and it will.
So what are small businesses supposed to do while at the wrong end of the cycle? Sitting around complaining and waiting for things to change is not the answer. My suggestion! Be like a farmer!
In many ways, growing a business is like growing a crop. You plant, water, weed, fertilize and wait. Crops don’t grow overnight. They need time. What does a farmer do while waiting? Lots!
During the growing season , a farmer keeps very busy. The growing season is the time to sharpen tools, plan for new crops, read farming catalogs and magazines, repair equipment and refurbish the barn. Here’s how you can do the same with your business:
Sharpen Tools: This is the time to teach yourself that new computer application that you know you need, but just haven’t had the time to do. Maybe it’s time to upgrade your system altogether. While you’re at it, update your client data base!
Plan For New Crops: What future trends in your industry can you translate into new goods and services? This is a great time to gain market research, conduct surveys and do a cost benefit analysis of previous marketing campaigns.
Read Farming Catalogs and Magazines: Are you up on the latest trends techniques and forecasts in your industry? When was your last attempt at continuing education? What are some new marketing and advertising techniques you could read about and apply? There are lots of free tele-seminars available. You only need one new idea.
Repair Equipment: This is a great opportunity to revamp your business systems, file paperwork, create that new bookkeeping system, archive old files, review policies and procedures.
Refurbish the Barn: While a farmer might fix a broken rafter, repair the roof or build a new holding pen, what can you do to improve the flow of your workspace? Professional Organizers will tell you that your productivity is often closely connected to furniture layout. Get your barn in order. And, if you’ve got something broken (computer, copier) fix it or get rid of it. Broken stuff is very bad business feng shui.
These strategies may not immediately appear to be business building activities. But they are – because they are pro active, not reactive. During this process you will be inspired and gain new insight into what makes your business work and what does not. Don’t be surprised if your creative juices start to flow in ways you never would have imagined.
The important concept here is called “Fake It Until You Make It”. Studies have shown that taking action in any circumstance improves the positive outcome exponentially. In other words: It works! Therapists use it to help patients overcoming depression. Alcoholic Anonymous encourages new members to use it. It’s all about stepping out and ACTING out in faith.
Believe that this downtime is a bonus to refocus on what you want for your business. Get moving and be a good farmer.
Niche Craft: Finding Your Market Niche
Common sense would tell us that casting a broad net when marketing our products or services would provide the most customers. And we would be dead wrong. That thinking will keep you struggling for years to find your market – perhaps never finding it at all. Just like with fishing, casting too broad a net is going to yield you a lot of fish you are going to have to throw back which will ultimately waste time and money. The truth is that the narrower the niche, the more money you will make. This is the fine art of niche craft. Just like a song, it works magic for your business success.
A niche by definition, is a focused and targeted group that your products or services caters to. The mistake that many businesses make is mistaking a broad category for a niche. For example, “Women” is not a niche. “Children” is not a niche. “Women who need….” is a niche. “Children who need…” is a niche. With that in mind, can you see how much more effective it is to have a specific niche? You can speak directly to the market’s exact wants and needs. You can describe their pain. You know them. You get them. You go directly to what’s keeping them up at night. How irresistible is that?
Here’s another example. Let’s say you think your niche is athletes. That’s really not a niche, it’s a category! What kind of sports are you offering solutions for? You can’t use the same product to solve a bad golf swing and a poor batting average or a weak tennis backhand. So your niche is going to be, in this case, golfers, or baseball players or tennis enthusiasts – but not all of them! They have different pain points, needing different solutions. Speak to their specific pain,offer them specific solutions and you have their business.
Finding that niche is challenging. But once found, it is the gift that keeps on giving. Here’s why.
Business is all about providing solutions. In other words, all businesses are in the “business” of pain relief for their clients. We solve their problems – the things that keep them up at night – the issues, that without us, seem insoluble. We take away their pain, their worry and get them unstuck so they can move forward, perhaps even live happily ever after.
Sometimes your niche finds you and you aren’t paying attention. Go back over your list of clients and see what they have most in common. You might be surprised to find that you already have a niche. A client of mine who has an answering service business went back over his list and realized that a large percentage of his clients were dentists. When he began targeting dentists, specifically identifying their pain points (because he already knew what they were), he increased his business by 30%! Remember that marketing is all about the following:
1. Identify their need
2. Describe their pain
3. Offer a solution
4. Present a Call to Action
Don’t be afraid to narrow your niche. Remember, although it may seem counterintuitive, the truth is, the narrower your niche, the more money you will make. That’s “niche craft”, wicked niche craft, at its best.
What they don’t tell you in Network Marketing
Each and every day thousands of people join network marketing companies, aka multi level marketing groups. For the most part they are individuals with daytime jobs that are looking to supplement their incomes, college students, stay at home moms and retired persons looking to add to their savings and social security. What do they all have in common? They have very little or no experience running or owning a business. Their mindset is that of an employee.
Don’t get me wrong. I dabbled in Network Marketing some years ago and loved it. I was proud of the product, I received some great training, met a lot of really great people, and recouped my initial investment plus a great deal more. But what I also learned in the process was that I was working way too hard building someone else’s business and in particular, someone else’s list! In addition, I quickly learned that network marketing, however great their product is, it is really about building a downline – meaning getting people on board after you have joined. You get a commission from them and their sales and also their respective downline as they recruit others. Sounds great, doesn’t it? And it is – for the people who joined the company at the very beginning. They are earning big bucks from an ever growing downline. The newbies, however, continue to come and go, being replaced by new associates who in turn often leave and are replaced- and the beat goes on. What is left goes to the existing upline – all the way to the top. All the while, anyone purchasing the company’s products are being added to the corporate data base. When the associates leave – they leave their client list behind too! All that work, all those contacts, now gone forever. While the associates believed that the company had actually provided them with their own website, it was really just a page on the corporate website. No client looking for that associate will ever find them on a Google search of their name.
It doesn’t have to be that way. Here’s the solution.
1. Every network marketing associate has to start thinking like an entrepreneur, not a corporate employee.
2. Get your own website with your name on it. e.g. www.johnsmith.com.
3. Brand yourself first and then the products you sell
4. Have an opt-in page (landing page) in front of your first web page and offer a “free report on how to…” when they “opt in” with their name and email address. Your auto responder send them the report – which you have written. Now YOU have them on YOUR list.
5. Then you can send them by auto responder to your affiliate site to purchase the product so you can receive the commission. That way, everybody wins.
The reasoning behind this is twofold.
1. First product is YOU!
2. You are creating a list so you can contact them when you have a special offer
3. Because you captured them on your own site, the list is yours and you can market and create other products and services.
4. If and when, you decide to leave the NM business and create your own business (like I did) you already have an established client data base!
5. Because you branded yourself first, they already know you and trust you!
Network marketing aka multi level marketing is a great business and you will learn a lot of sales, marketing and advertising from the experience. Just make sure that you are thinking like an entrepreneur and not a corporate employee. Have fun, make money and work smart, not hard. Here’s to your success!
Broke or Successful – Which Do You Prefer?
1. Broke People think everything is too good to be true. Successful People think that getting a job sounds too bad to be true.
2. Broke People give up when things don’t go their way; a few disappointments and they are onto something else, saying things like “it wasn’t for me”. Successful People work harder and become more determined when things go bad, and understand that you have to take the bad with the good to make it.
3. Broke People always have an excuse. Successful People say “it’s my fault” and refuse to make excuses.
4. Broke People think that not getting what they want is OK. Successful People are disgusted at the thought of not getting what they want and will do whatever it takes.
5. Broke People always have to talk it over with their broke friends to make sure no one will make fun of them if they make a decision. Successful People think for themselves and couldn’t care less what their broke friends think.
6. Broke people are never coachable and teachable. Successful People are always learning, even when the money starts coming in. They never stop learning from those who were there first.
7. Broke People are scared of others. Successful People trust in others and know that other people are crucial for their success.
8. Broke People are always procrastinating; they would rather talk about it, read about it, think about it, but never seem to do anything. Successful People hate doing anything but getting it done.
9. Broke People are glad when the day is over.Successful People love when the day begins.
10. Broke People think the Rich are lucky. Successful People put themselves into a position to be “lucky,” and then work hard to make the “luck” show up.
11. Broke People work by the hour. Successful People work by the month.
12. Broke People want to know that after 1 hour of work they have something to show for it. Successful People find broke people who think this way and make them their employees.
13. Broke People get excited they just got hired. Successful People think it’s interesting that someone could be fooled that easily. They’re amazed that Broke People never consider that they are selling themselves at wholesale while the Successful Person is reaping the retail rewards.
14. Broke People complain a lot. Successful People are thankful that no one shot at them today, they didn’t have to fight in a war, and that they don’t have a job.
15. Broke People are too concerned about what other people are doing.Successful People are only concerned about what they can be doing to get more done.
16. Broke People think that if no one is doing something, it must suck. Successful People think that if no one is doing something, it means more money for them.
17. Broke People think that if everyone (all 200 people at a meeting or on a conference call) are all doing the same thing, it must be saturated. Successful People think that Broke People who think that way aren’t too bright.
18. Broke People think it is OK for other people to live where they want to live, drive what they want to drive, and do what they want to do. Broke People are OK with the fact that they can’t do these things. Successful people get sick just thinking about being average.
19. Broke People think that other people’s opinions are worth more than their dreams. Successful People know that their dreams are worth more than other people’s opinions.
Moral of the story: To be successful, find out what unsuccessful people do, read, watch and think…and don’t read what they read, watch what they watch, do what they do, or think how they think! (Author unknown)
How NOT to do business
After a subsistence of airplane peanut snacks and diet coke, my cross country journey ended in Philadelphia, having experienced a rerouting to Baltimore with a 5 hour delay. I collected my bags at the carousel and bleary eyed and stiff, walked to the ground transportation desk and checked in. Two hours later the shuttle dropped me off at the hotel my “host” had arranged for me. At that moment I knew my suffering was not yet over.
A year ago I awoke in the middle of the night with an idea for a new product. Then, by morning I was thinking about all the work involved, the obstacles I would face and put the idea in the back of my mind; but every once in awhile the idea would pop out and harass me.
Then one day, an amazing thing happened! I received a phone call from a very successful business woman in my field who was well known for product development. She was inviting me to an “Invitation Only One Day Mastermind Group” of select professionals, for a handsome price mind you, but I agreed to attend. I convinced myself that it would be worth my time and money as this was a sign from heaven that my idea was finally going to take flight. This was my first mistake.
Right away, I started getting daily emails from her assistant – but the problem was the daily emails were contradictory and the name of the assistant kept changing. Instead of interpreting this as a bad sign, I told myself we all experience employee troubles from time to time – poor thing. Then, just days before the planned mastermind, assistant #4 asked me to change my reservation from the well known 4 star hotel I had booked, to an “Inn” near my host’s home.
It was 2am when I finally arrived at the “Inn” The hotel air conditioning was minimal. I can only describe the hallway as a swamp. My room was old, tired, dirty and dank. The TV remote did not work nor did the Wifi for my laptop. The next morning, in the hotel dining room, I asked the waitress for espresso and she replied, “What’s that?” It was all downhill from there.
The meeting began at 9am. I turned off the alarms in my head, and settled down, determined to get the most from my time with this “successful business woman”
While certainly articulate, she failed to impart any new ideas. Scribbling a few notes, I was sinking into the realization that this whole adventure had been a very costly mistake. She matched the hotel experience. Later at lunch, which was an inedible as breakfast, she began a diatribe against some of her business colleagues, including one of mine. She commented that my own personal business coach, whom I admire tremendously, was “a fraud”. I sat there thinking that my “fraud” coach would never have put me up in a rat hole hotel. In fact, we always met at a resort and he picked me up at the airport in his silver Mercedes!
Later that afternoon, she criticized my business model – one that was very successful and suggested that I start over from scratch – with her, of course as my guide.
That evening, alone and after a very greasy and inedible dinner, washed down mercifully with two glasses of wine, I returned to my room, packed and went to bed.
On the shuttle ride back to the airport, I saw the “Inn” in the daylight for the first time. It was flanked by a gas station on one side and a massage parlor on the other. I relayed my unpleasant experience to the shuttle driver who replied, “Why didn’t she put you up at the Hilton, which is 2 minutes away?” Why indeed?
On the flight home, which thankfully left on time and arrived on time, I had a chance to reflect on the whole experience, including other atrocities committed by the rat hole hotel and more unprofessional comments from my host that I had blocked during my 2 days of misery. Was this experience entirely her fault?
Well, yes and no. In terms of providing for my comfort, she failed miserably. If you want to do business with someone you don’t put them up in a rat hole. If this was her idea of business courtship, Lord only knows what would happen after the honeymoon was over! In any case, her unprofessional comments would have unsealed the deal even if she HAD put me up at the Hilton.
The entire event proved that despite her reputation, she was extremely unprofessional and unethical – certainly someone I would never choose to do business with. An expensive lesson to learn in so many ways!
But what about my part in this? Here are the lessons I learned.
1. DON’T IGNORE DANGER SIGNS. Ever changing assistants and a change of venue should have told me that trouble lay ahead.
2. NEVER ASSUME. Even if someone is famous, well known and successful, never let your guard down. Before embarking on such an expensive adventure, I should have done my DUE DILIGENCE, talked to others. I had rushed to judgment and assumed that just because we kept running into each other at other business events, she was as professional as me.
3. NEVER GIVE AWAY YOUR POWER: Why did I think that I needed her in the first place? What made me think that she was the one who could take my idea and launch it?” Every business owner should have a defined business development investment budget. If you choose to go over that budget, you’d better be certain you will get a good ROI.
I teach all of my clients this important business principle: Your first client is you and your first product is you. Lesson re learned, the hard and expensive way. Take note and don’t let this happen to you. The good news is that I did go ahead and create a working business model and marketing strategy for my new product – no thanks to my “hostess”, however.
What Kind of Business are you?
Knowing what type of business model works best for you is of the utmost importance. And yet, most small businesses and even some larger ones don’t understand how to market and sell their products and services. Even more importantly, they don’t know how to get beyond their first client and their first sale. Is that you?
There are basically two kinds of businesses – 1. Business to Consumer and 2. Business to Business.
Business to Consumer is the one we all have the most experience with and the one that also gives small businesses the most trouble and confusion. Business to Consumer is the Retail model and is based solely on product, pricing and convenience. Quality is not as important as a quick fix for a short term problem. You need a new suit, you are hungry, you need a new dishwasher. Choices are usually easy and quick. That’s great for large department and discount stores as well as fast food chains. Consumers want a quick in and out experience. One day, a certain store will be closer for that quick fix or having a special sale on their merchandise. The next day, another store may be more convenient and offer a better price. There is absolutely no consumer loyalty and not much of any repeat business. They profit on volume and short term sales.
Can you see how that approach is likely a dead-end street for you as a small business owner? First of all, it’s tough to compete with larger competitors who can offer low pricing and have deep pockets. You are out of your league and will always be scrambling for more business.
If you have been operating under the Business to Consumer model and are wondering why you aren’t getting any repeat business? – now have the answer. You are a little fish in a very big pond. With this model, that is all you will ever be.
The Business to Business model is the one you want. This model doesn’t focus on quick sales. It has a slower buying process because Business to Business is relationship based. Your “bigness” as a fish in this pond is your reputation for service and quality and even more importantly, your FOLLOW UP. Your goal is to build trust and to make the customer happy. You want your customer to feel loyalty toward you and what you sell or do. This will produce longevity in your business and repeat customers and referrals. It will take time. Business building is not a sprint – it is a marathon! When you build a trusting relationship with a client, price and convenience are no longer the main criteria for purchase. Did you just hear that? They know you, trust you and like you. Therefore, they don’t want to have to look any further for a solution to their problem. You solve their problem without worry. This is the basis for business development and growth – not hit and run, one trick pony selling! Now you truly have no competition. Once you get that concept, your efforts at building client relationships will grow quality referrals and lifelong business relationships. This must always be your goal.
Are You Charging What You Are Worth As A Coach, Consultant or Speaker?
Establishing fees and setting boundaries with your clients is always the first priority of a business owner. If you are in a service provider industry, there can be quantifiable prices for supplies and tools and probably even industry standards for your hourly rate. But how do you measure your value as a coach, consultant or professional speaker?
Being all three, and belonging to several professional groups surrounding these industries, I can tell you that many haven’t got a clue as to what to charge or even an inkling of the value they offer.
Here’s what I hear most frequently among my poorest colleagues.
“I feel guilty charging for my natural gift.” Every great artist and entertainer has a natural gift too. But they have also practiced, studied and sacrificed to fine tune their gifts and have no problem charging audiences for enjoying their talent. Haven’t you done the same?
“I don’t need to make a lot of money, I just want to help people.” Isn’t that just an excuse for failure? The more money you make, the more good you can do with it and the more people you can help.
“Money will corrupt me.” Really? Are you that corruptible? Money has nothing to do with character. There are many very good, kind, generous and spiritual people who are also very wealthy. They just don’t make the news; instead they serve others humbly and quietly.
“Money is bad”. Untrue. Money is a just a thing, a tool to use for good or bad. It’s entirely your choice how you use it. More money can equal more good works. Money can save lives.
“I don’t like selling and marketing” Then get out of business and get a job. Selling and marketing is a necessary part of growing your business. It is a good thing and it’s really fun! How else will people find out about you and benefit from your good work?
“I’m not comfortable promoting myself”. Even the Bible says.”Don’t hide your light under a bushel”. If you don’t think you are worth it, how are you going to convince others?
We have a tendency to underestimate the value of what we do. We think that what we know is common knowledge and obvious common sense. Not true! You are unique, amazing and have skills, knowledge, life experiences and insights specific to you and no one else on the planet. You have worked hard to hone your skills. You want to serve others. You have no competition. If what you offer can truly inspire others, change lives and revitalize a business, how much is that worth? Here’s an exercise to try. Stand in front of the mirror and practice saying, “My fee is $____and I’m worth it.” Say it until you believe it and your eyes show it” Your first client is you and your first customer is you. You deserve to be paid well for what you do.
Good Selling and Marketing and don’t hide your light under a bushel!
First it was Y2K and now it's the end of the world in 2012? Get over it!
Welcome to the second decade of the 21st Century! How did that happen so quickly? It seems like we just got over worrying about our computer systems imploding on the eve of 2000, which proves my point: Worrying about things that probably won’t happen, is a waste of time. True futurists see possibilities as well as pitfalls and seek to prepare rather than scare. The times, while certainly changing and challenging, are also very exciting indeed.
Here are 5 major trends/possibilities to watch for and act upon in 2010 and beyond:
1. Green Technology/Water Conservation
The terms Green technology, carbon footprint, climate change, eco friendly, re usable, recyclable will be the words spoken, written, discussed and planned for in huge proportions from now on. This will impact large industry as well as small businesses and households who will be compelled willingly or unwillingly to save the planet. Business travel will become more limited as the “carbon footprint” is more top of mind. It will be replaced with online and virtual meetings. This will impact airlines, hotels and other travel related industries. However, it will also greatly increase opportunities for online learning, webinars and teleseminars. Hopefully, that will mean not only less carbon dioxide in the air but more quality time at home. Water shortages will replace gas shortages. Growing populations create agricultural and industrial growth. Everybody is going to need more water. Every industry, from agriculture to manufacturing to landscaping and pool services will be impacted. How can you participate in these growing trends? What service can you provide/create for this growing need to reduce the carbon footprint?
2. Elder Care
Life expectancy grows to age 100+. This will affect every aspect of society – from jobs, housing, health care, retirement needs, mortality tables, insurance costs, elder care/assisted living needs, the definition of a nuclear family and caregiver roles. Growth in a senior population will affect laws on inheritance, elder abuse, conservancy, real estate, investments, housing design and construction, medical care and medical support systems.
This phenomenon is causing a shift in elder care models. What worked for families with ailing seniors in the late 20th century may not be possible or practical now. Adult children live more hectic and demanding lives and may not live nearby. By the time senior parents need help; their kids are near retirement too! Savings and retirement funds are running out as people are living longer. What is to be done as the majority population of the western world continues to age? The need here is huge. What kinds of services can you provide to this growing population and their concerned families?
3. Internet:
It’s getting bigger and more important by the minute. The worldwide web offers everyone who is “connected” the opportunity to search for information, hire a professional, purchase homes as well as goods and services and even meet the person of their dreams. LinkedIn, Facebook and a myriad of other social networks allow people and businesses to connect. It’s not going away. It’s only going to get bigger and more important. If you still see yourself as only “local”, you are in the minority and you are missing out on amazing internet marketing and sales opportunities. Individuals and businesses are now connecting all over the globe. If your website is 20th century brochure style – get moving and get interactive. Videos and blogs are not a passing fancy and really promote your website presence. What can you do to update your web presence right now?
4. Personal Growth/Personal Health/Slowing Down the Aging Process:
As baby boomers are seeing their parents reaping the rewards of unhealthy living (smoking, obesity, lack of exercise) requiring walkers, wheelchairs and oxygen tanks at the end of their lives, they are beginning to rethink their own lifestyles so as not to suffer the same fate. It’s not just about looking younger. It’s about feeling younger… Health and Fitness is the wave of the future. Low glycemic index diets, exercise, and a new awareness that diabetes 2 is purely lifestyle related and not to be expected in old age is the new trend. This will affect restaurants and food manufacturing and packaging. Think brown rice and whole grains. Goodbye simple carbs, saturated fats and high fructose corn syrup. It’s making us sick and we know it. It may be convenient up front but very costly at the end and we know it.
As mainstream churches struggle to remain relevant in the 21st century, New Age thinking, aka, ‘The Secret’ is on the rise. Meditation, Yoga, Retreats and Health Spas cater not only to individuals but companies looking for innovative ways to conduct business meetings and team building events. Blend making more money with getting healthier and you have struck gold. If you are in the health, wellness or hospitality industry, this is a major trend for you.
5. Re-emergence of Entrepreneurship
In 1776 more than 95% of all Americans were entrepreneurs. By the middle of the 20th century, that number had dwindled to less than 30%. The industrial revolution enticed people to leave their farms and shut down small businesses to seek employment in the cities. The Great Depression accelerated the process. This resulted in the breakup of families and a dependence on manufactured goods and credit.
In 2010, it is back to basics. Generation X & Y aren’t so willing to give their lives to the corporation. Small business growth is seen as the savior of our downtrodden economy. Are you a small business owner? Rejoice. While you can buy a house or a car online, there are many services that must be done in person. If you are an electrician, plumber, medical care provider or other hands on professional, this is the decade for you. The key to your success will be customer service and follow up. In this ever increasing internet centered world, it will be the personal touch that you provide to your clients that will be the “secret sauce” that will grow your business.
There are many other trends in science and industry that are truly exciting – from smart machines that anticipate our every need to a possible cure for cancer and the end of inherited disease. While we you are enjoying the benefits of these future trends, what will you do to contribute to them?
Kim Clausen is my teacher and good friend. That is why I am sharing this with you. These are such important mindsets to have as we all begin the second decade of the new millennium. Happy New Year!
Key Selling Words for 21st Century
I am always amazed when even large companies and trade associations don’t understand how to sell themselves in the 21st century. Do they really think that simply listing what they do is going to sell their goods and services? Apparently so as I quickly realized when visiting the site of a major trade association seeking more members. Their list of so-called benefits in belonging to their organization included “enhancing the value of the profession.” What does that mean? Unless it equates to something tangible, nobody cares about enhancing anything. What the buyer cares about is WIIFM aka What’s In It For Me? They couldn’t care less about what’s in it for you. In business it’s all about them – translation: it’s all about ROI.
So here’s the biggest tip for selling in the 21st Century: Features (what you DO) do not sell. Benefits (what they GET “after” you do what you do) sell.
Stop talking about what you do and start talking about what they are going to feel afterward. The truth is that people buy with emotion and justify with reason. If you can speak to their pain and offer them relief from that pain, you have the sale.
So here’s a great way to uncover the key selling (benefit) words in your business that sell: I like to call it the Benefits Game. Fill in the blanks as follows: I ________so you can _____________. For example, I coach small businesses so you can increase your earnings. Now, start un-peeling that onion. I coach small business owners so you can make more money so you can work less so you can have time to develop new products so you can grow your business so you can have more time for family and fun so your marriage is better so you get to know your kids, so you can be happy so you can be healthy. Did I say HOW I was going to do that? No! I know how and if asked I can explain the process, but in reality, the client really doesn’t care. What they want to know is that you understand their pain and can deliver on your promise. If they believe that you can (and here’s the caveat- you had better be sure you can deliver) then you have got the sale.
The basic sales models is as follows:
Identify their need/want; Describe their pain; Offer a solution; Call to Action
Describing their pain in detail is really critical to a successful sale. What is keeping the customer up at night? What are they worried about? How can you take that pain away? If you can take away their pain you will be their hero. You will have provided a great and valuable service. Isn’t that what you want? All business is based on providing solutions to pain. Do you understand that?
As business owners, we provide pain relief in every shape and form. That’s what we really sell. I’m not talking P.T. Barnum here, I’m talking about having the heart of a servant and truly identifying the needs of the client and wanting to deliver a solution that improves their life and their business. If you can get to the heart of that and speak to it, you’ll have the sale.
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