Sales Secret: Take "No" for an Answer

Great article in Inc. regarding the secret to sales success: click here to read.

Essentially the article suggests that there is a direct correlation between sales success and the number of "nos" a salesperson hears. In other words, the more rejections you hear, the more sales you will make.

Salespeople are thus "happy losers." A "happy loser" is someone that is not deterred by rejection. Successful salespeople will take "no" for an answer because that will bring them closer to "yes."

Even when you land a sale, you should continue to press for "no" like the shoe salesperson who successfully sold you a pair of shoes but then asks if you need socks, a matching belt or another pair of shoes.

Move your business to the next level by embracing rejection. Take "no" for an answer and become a "happy loser."

Good stuff Inc.!

Photo courtesy of http://blog.rogersradiointernet.com/afternoondrive/2008/05/

Fit vs Fat

Obesity is not just a health epidemic; it’s a marketing epidemic as well.

In an attempt to communicate their value, businesses will try and cram as many messages as possible into one marketing piece. Everything gets bolded, underlined and called out. With so many marketing messages, it’s like having too much food on your plate: you can’t possibly consume it all.

This is what I call “Fat Marketing.”

The opposite is “Fit Marketing.” Fit Marketing means you restrict your marketing diet to a few simple messages. Less clutter means more impact.

Fit Marketing moves people through the sales funnel one step at a time. Fat Marketing tries to consummate the deal in one step. Fit marketing is clear and concise. Fat Marketing bogs you down.

Get fit with your marketing and you will move your business to the next level.

How do you get fit? Here are a couple of ways:

• E-newsletters: drive readership with valuable content, but stick with one message at a time. Don’t overload your newsletter with too many articles and too many calls to action. One article, one call to action is perfectly fit.
• Website: a website is mostly a source of information about you and your company. Keep it that way. You can’t do everything with your site, so don’t. Most important, your website will evolve so be prepared to analyze visits so you can optimize it and streamline it.
• Print Ads, Direct Mail: focus on one primary message. Be sure you ask yourself: “What one thing do I want someone to do once they’ve seen my ad/postcard/letter?”

This is just the start. The Fit Marketing concept should be applied to all of your marketing collateral because Fit Marketing is a long term approach to building a customer base.

So put your marketing on a treadmill today and shed some of that clutter!

Turn OK Marketing into KO Marketing

Let’s be honest: your marketing is just okay. It’s not knocking anybody out. It may be getting your message out there but it's not doing much else.

You want knock out marketing. In fact, you need knock out marketing. Okay marketing just doesn’t cut it nowadays. With so many messages and so much competition, your wasting marketing dollars if your collateral is just okay.

So how to you go from okay marketing to knock out marketing? Here are three ways:

1) Simplify Your Message: less is always more. Always. Marketers constantly struggle with optimizing their message. It’s both art and science. But the struggle should never be solved by adding more messages. Instead, take away messages. Cut to the core of what you want your audience to comprehend. Stick with one key, consistent message. You can always change your message if it doesn’t work. But don’t try and fit a bunch of messages into one space. Knock out your marketing with one swift blow.

2) Provide a Specific Call to Action: the reason a lot of marketing is just okay is that there is no call to action. If you don’t have a specific call to action in your marketing then there is no knock out punch. Focus messages on the specific actions that you want your audience to perform. If you want people to stop by your store, then state “visit.” If you want people to call, then state “call.” Unless you push someone to do something, they won’t do it.

3) Focus on Benefits, Not Features: sell the sizzle, not the steak. Right? Hair loss products are my favorite example of this. They rarely sell the features of their product and instead focus on the benefits. Dude swimming in the pool, surrounded by beautiful women…that’s what sells! Not the price, or the color. These are features. Learn from hair loss advertisements: if you want knock out marketing, then focus on the benefits.

Move your business to the next level with knock out marketing. Okay marketing is just, you guessed it, okay. You don’t want okay. You need knock outs. Your small business may depend on it.

3 R's to a Healthy Sales Funnel

It's a given that you will move your business to the next level with a healthy sales funnel.

So how do you keep a sales funnel healthy? Simple. Focus on the the R's: recommendations, referrals and repeat business.

Recommendations: offline and online platforms demonstrate that recommendations influence buying decisions. Ratings, testimonials and comments are powerful marketing messages. Get recommendations by simply asking: provide a forum to rate your product/service online or request quotes from satisfied clients to include in your marketing.

Referrals: the ultimate goal of cruise control marketing is referrals. Getting referrals requires three things: outstanding service, asking for them and giving them.

1) Outstanding Service:
Your business should deliver such a special experience that customers would want to spread the word for you. Wow your customers with excellent follow up like thank you cards or personal calls to just check in on them.
2) Ask for Referrals:
The best referrals are free ones but paid referrals are also viable. At a minimum, develop a consistent and simple referral system. Give out extra business cards, donate to a charity in the referrer's name or have a payout plan. Consistent and simple is easy to manage and the return on investment is very powerful.
3) Give Referrals:
The Golden Chain of Referrals starts with you. Give, give, give and you will get. Note that you will need to give at least three times to get.

Repeat Business: every business relies on repeat customers. The shortsighted business owner sees one transaction. The wise business owner understands the lifetime value of a customer. Customer acquisition is always more costly than customer retention.

Recommendations, referrals and repeat business will keep your sales funnel healthy. Focus your marketing efforts on these three R's. Ensure that all marketing messages enable more recommendations, referrals and repeat business.

Sweepstakes? Great List Builder, But…

Your marketing is only as good as your audience. In other words, the better your list, the better your marketing.

But “better” is a subjective definition of a list. Does better mean quantity or quality?

Quantity is for businesses that sell products/services for the masses. These businesses generally offer a commoditized and price sensitive product in a market with many competitors. For them, a “better” list means a longer list of prospects. Think soft drinks or pizzas.

Quality is for businesses that sell products/services for a niche market. These businesses usually sell a unique and differentiated product in a market with only a few direct competitors. For them, a “better” list means more qualified prospects. Think luxury cars or swimming pools.

Small businesses should fall into the latter category where quality of a list is paramount to quantity. A small business with a strong Marketing DNA will know that a targeted niche is more attractive than a mass list. More qualified prospects is always better than more prospects.

So should a small business build its list with a sweepstakes?

A sweepstakes can be a great way to build a list. Give away your product for free for those that sign up on your website, at a conference or in your store. If you gather these names and add them to your database, you are growing your list.

But the names you gather aren’t necessarily the most qualified. They are only people that have signed up for your contest. This doesn’t make them high-quality leads. In fact, they might just be freeloaders looking for a handout that would never purchase from you in the first place.

Sweepstakes responders are a skewed list towards those interested in the free prize.

You can still do a lot with your sweepstakes. If you are considering a contest to build your list, be sure that your procedure gathers actionable data. Think of ways to further qualify leads. For example, ask when the prospect would be in the market for your product or service. Or invite entrants to subscribe to your e-newsletter. Maybe include a multiple choice question about the best way to follow up.

Leads are great, but qualified leads are better. Move your business to the next level with quality not quantity.

3-Second Test You Must Take

For any printed marketing--and even some electronic marketing--be sure you take the Three Second Test. Place the piece at a distance a potential viewer would see the material and count for three seconds.

Now, ask yourself: what message is communicated?

If the primary marketing message can be communicated within three seconds, your piece is solid. If more than one message is coming through during the timeframe, you may be trying to do too much.

The worst result of the Three Second Test is if you cannot articulate any message from your piece. In this case, you should probably start over and refocus on the primary message.

Now this test doesn't work for everything. A sales letter, for example, requires a bit more. The test is best for print ads, flyers and direct mail. It can also work for banner ads and e-mail blasts.

Regardless, the idea is clear: any marketing piece needs to get to the point clearly and quickly. Boil down your communcation to one clear and concise primary message.

Move your business to the next level with the Three Second Test. You will be challenged but you will achieve results.

Marketing is a Steak

If marketing is a steak, it needs to be either rare or well done.

The well done part goes without saying: market your business well and your brand will grow. Marketing well means understanding your Marketing DNA, following a S.M.A.R.T. plan and repeating your message consistently.

The rare part is a bit harder to grasp but equally as effective. Being rare means being unique and special. Marketing that cuts through clutter is new and different. It creates buzz and conversations. Rare marketing fosters cruise control marketing.

If your marketing is neither rare nor well done it's just...um...medium.

Medium is the worst kind of marketing. It's bland, commoditized and fails to create action.

So move your business to the next level with rare marketing or marketing that is well done. Don't settle for anything medium.

Opinions are Like (BLANK)?

Fill in your own blank. I'll go with "data" as in "opinions are like data."

You see, opinions are like data because everyone has some. Demographic statistics, sales forecasts, budget variances and more. In fact, many businesses are drowning in data.

Too much data means too many opinions. Paralysis by analysis, as the saying goes.

Even worse, small businesses owners are always subject to other's opinions. It seems that everyone who walks into your store thinks they know the best way to run your business.

So whose opinions matter? What data are important?

It can't all be important. Especially with respect to marketing. Try and please all opinions and your marketing will fail. Miserably.

Remember, successful marketing focuses on a narrow but deep market. So pay attention to the opinions and the data about your niche. This is where you'll find actionable information.

Still struggling to find out what data and what opinions are most useful? Do an 80/20 analysis: undertand the 20% of your market that gives you 80% of your revenue. Find data and opinions that represent the 20% and act on that.

Data and opinions alone cannot move your business to the next level. Instead, move your business to the next level with actionable data and opinions that directly reflect your narrow target market.

22% Increase in Sales with a Cup of Coffee

Trying to find ways to grow your sales? Try a free cup of coffee.

One initiative I tried with a QSR client of mine was to give away free coffee during breakfast hours. The restaurant competes directly with QSR breakfast category leader, McDonald's. To make matters worse, the location is down the street from McDonald's and a bit tucked away--not ideal for capturing traffic coming off the highway.

So I recommended they give away coffee for free. That's right. Free.

Coffee is a low cost item for this concept so the cost of goods was not a factor. We utilized a sign waver at the main intersection for a couple of weeks so labor cost increased slightly. But the bump in sales more than compensated for the extra labor.

In fact, the bump in sales was a healthy 22%.

Better yet, the increase in sales sustained beyond the promotion. And if sales dip again, the store is prepared to roll out this easy promotion any time they need it.

For your small business, can you create buzz and traffic with a low cost and high value item? Is there a cup of coffee you can offer your prospects to get them in the door?

Free is a powerful concept. Leveraged well, free can move your business to the next level.

How Far Do Your Loyalists Go?

Every successful business needs some loyalists.

Loyalists are generally satisfied customers, but not always. Friends and family make great loyalists as do suppliers and vendors.

Loyalists move to the next level when they become brand evangelists. Evangelists spread the good word about your product or service. They are the ones feeding the word-of-mouth, generating referrals and recommending your business to others. They drive your passive marketing efforts.

So how far do your loyalists go? Are they evangelizing? Are they willing to take on a permanent tattoo on their body to show their loyalty?

Perhaps few loyalists will go that far, save the ones pictured here.

Nevertheless, the point should be clear: move your business to the next level by creating brand loyalists willing to go to the extreme to express their devotion and willing to do whatever it takes to spread your good word.

So maybe instead of asking "how far do your loyalists go?" I should ask "what are you doing to create brand loyalists willing to go to the extreme for you?"

Which Sign is More Effective?

For many small businesses, signage is one of the most important marketing channels. Yet too many businesses miss the mark with their signs.

A poor sign is overcrowded, lacks visibility or otherwise fails to move the reader to the next level of the sales funnel.

So what makes a good sign?

A good sign is both simple and memorable. To achieve this, start with the objective of the sign. What do you want the reader to understand? What action do you want them to take?

Now focus on that specific objective and make a simple yet memorable sign. Good signage communicates one simple message that can clearly be remembered.

Take these two signs for example. Located on a busy street less than one block from each other, both these signs offer the same deal.

So which is more effective?

Well, the only way to really know is to document traffic counts. You should track traffic with your own signs particularly if you have a storefront. Put up a sign one day and count the number of people that enter based on that sign. Put up a different message the next day and count again. Repeat this and optimize your messages over time. You may find that "2 for 1" draws more business than "Clearance" or something along those lines.

Without the ability to track these signs, I would argue that the second sign is better. Yes, it is crude, unprofessional and incorrectly written. Hardly what many brands want to communicate. But the message is loud and clear.

Simple and memorable.

Move your business to the next level with simple and memorable signage. Proffesionalism is nice as you want your signs aligned with your brand, but if your message is not simple and memorable your sign will miss the mark.

Marketing DNA Haiku

Differentiate.

Target a narrow market.

Add lots of value.

For more on Marketing DNA and how to move your business to the next level, see past blog entries here.

3 Things a Recruiter Can Teach You About Marketing

A good recruiter is more than an expert in Human Resources. A good recruiter is also an expert marketer.

Consider three strategies a good recruiter implements and how they can be applied to successful small business marketing:

1) Extremely Targeted Search: a recruiter has one person in mind to fill a certain position. In order to find that one person, the recruiter establishes a very defined profile: experience, performance, salary, skills, etc. In creating a clear profile, the recruiter narrows the talent pool. Instead of trying to find a needle in a haystack, a recruiter cleans out most of the hay to make the search easier.

Same goes for marketing: narrow your focus. Target a small niche. Recruit only the most qualified customers with your marketing. Unless you're Starbuck's or McDonald's, you don't want to attract the masses. Like the recruiter, simplify your efforts with a clear and defined profile of your target market. It will make your job much easier.

2) Quality is Better Than Quantity: a targeted search will yield more qualified candidates for a recruiter. Less is more for a recruiter: less candidates with more qualifications is always better than more candidates with less qualifications. A recruiter finds less candidates with more qualifications with one simple, clear and direct message. More important, a good recruiter will broadcast his or her search in fewer channels, not more. A clear message in one or two channels will cut down on the quantity and yield more quality.

Same goes for marketing. Too many businesses spin their wheels trying to broadcast a variety of messages across various channels. In this case, quantity will bury your marketing efforts. Instead, focus on the quality of the marketing. Think about the specific market you are targeting and dedicate your energy to one or two key messages to communicate to that market. Find one or two channels for that market and extract quality from fewer channels.

3) Be Romantic: the ultimate test of a recruiter is if he or she can land top talent. This requires ample wooing. Sure, a recruiter needs to paint a real picture of the job, but in order to compete for the best, a recruiter must go above and beyond what everyone else is doing to ensure that his or her company will get the talent they need.

This is no different than marketing. Romance your prospects. Woo you customers. Go above and beyond what everyone else is doing and you will convert leads into paying customers in no time.

In all, recruiting is more like marketing than you might expect. Move your business to the next level by applying some key recruiting strategies to your Marketing DNA.