Showing posts with label branding. Show all posts
Showing posts with label branding. Show all posts

November 13, 2012

WHY ENTER COMPETITIONS OF SKILL

the water's fine
Putting yourself on display helps you overcome the #2 fear which Napoleon Hill identified: the fear of criticism.

During the year, you'll have opportunities to earn recognition for your business and yourself.

There are business excellence awards and speaking opportunities. Even TEDx events may require you to apply.

At the Toronto Small Business Summit,  The Globe and Mail is offering the opportunity to get featured on the Report on Small Business website. Here’s how.

Waiting To Get Chosen

It's nice if someone else nominates you (accept the gesture). Nominating yourself may look a tad underhanded. However, if you don't tell your story, you may find that you get ignored. That's worse.
If you tell your story, you get to use your words.

Good Odds

Entering a competition takes more effort than clicking a Like button. This small effort is big enough to deter entrants. You put the odds on your side just by entering. Answer the qualifying questions well and you're among the elite. You may only face a handful of opponents.

Better Odds

When applying, read the questions carefully and think about your answers before replying. Perhaps draft your replies in a word processor and review them.

The questions are often simple but deep. The Globe and Mail is asking why your business deserves coverage. In particular,
  1. What makes your business unique?
  2. What challenges does it face, and which ones has it overcome?
  3. What can other small businesses take away from your experiences?
Developing answers is a worthwhile exercise for any business and for you personally.

Objectivity

We're always judged but not always fairly. When we evaluate ourselves, we can convince ourselves of greatness that others don’t see.

In a competition, the evaluation is objective. The judges are trained. Attempts are made to reduce biases. The resulting feedback is very valuable.

Improving Your Skills

During the process, you use different communication skills.
  • written: to qualify
  • verbal: if interviewed (at the Small Business Summit, the five finalists pitch to the panel of judges in front of a live audience)
Maybe you feel you're worthy of winning but don't feel you have the skills to express yourself. A free private mentor or paid coach can help. You would likely benefit from Toastmasters if you find the right club. That’s also an ideal place to get lots of feedback and learn by watching other members.

Marketing Strategy

If the award warrants, develop a strategy to market your nomination. The stages might be nominee, finalist and winner. Even if you don't win, you're still among illustrious company. As a minimum, show your placement on LinkedIn.

Bonuses

Regardless of what happens, you're getting known by a larger group, including the judges. You may make valuable connections (though I'd wait until afterwards before connecting on LinkedIn and/or meeting again).

After you go through the process, you'll get a better understanding of how you differ from the winner. Make changes and get ready for the next competition.

Links

PS When did you compete last? When will you compete next?

August 28, 2012

FIVE STEPS TO FRESHEN YOUR GROUP’S ONLINE APPEAL

new coat of paintAre you in a group that wants to retain and add members? Here are steps to become more effective online. The focus is on nonprofit, volunteer-run groups.

The actions are free or low cost, easy to maintain, and with measurable results.

Do they work? See for yourself. A similar process was used at Goodyear Toastmasters during my 2011-2012 presidency.

Step 0: Web domain

imageGet a web address. If you don't have one, buy one through Google Apps, which will also give you free email and other niceties without mastering terminology like DNS and CNAME.

Consistency helps. Use a service like NameChk, CheckUsernames or NameChecklist to find a name that’s available for multiple sites. This may not be easy or possible. Do what you can.

Example: goodyeartoastmasters.com

Step 1: Gmail

Your free Gmail account is your passport to the online world. Even if you're using Google Apps, the following steps will rely on having a basic Gmail account. Where possible, use Google services. They're free and probably help with the ever-important search engine rankings.

Step 2: Twitter

Twitter is essential for broadcasting what your group does. Follow all your members and encourage them to follow your group account. Twitter gives a way to promote members and the group.
You’ll need your Gmail address to activate your account.

Example: @gytm81 (since @goodyeartoastmasters is too long when tweets are limited to 140 characters)

Step 3: Google Analytics

imageOnline, you can measure results and trends. Google Analytics is free, easy to use and widely supported. You’ll need your Gmail address.

Step 4: Blog

A blog shares the expertise of members with the world in a way that search engines love. Use Google Blogger to setup an account with your Gmail address. Connect to Google Analytics, even though Blogger already has analytics.

Draft and publish a post to make your blog live before completing the next steps.

Use Disqus for comments (and an indirect way to get traffic).
AddThisFor sharing content, use AddThis (or ShareThis). There are plugins that go into your blog template. If you don't understand how to use them, you may need help. It's good to get these features incorporated at the outset before your content and traffic grows: mistakes and changes will have minimal effect.

Use Google Feedburner to make your content available by email and newsreader. Connect your Twitter account so that tweets go out automatically when a new post goes live.

Example: gytm.blogspot.ca (a weird web address but short and consistent with Twitter)

Step 5: YouTube

YouTube channelCreate a YouTube channel using your Gmail account. This is the place to post your videos. You can then embed them into your blog posts and other places.

Example: www.youtube.com/goodyeartoastmasters (long but relatively easy to find on YouTube)

Website

Your group probably has a website already. If not, at least have a placeholder. Add life by using a design that incorporates your tweets.
If your needs are minimal, your blog can also be your website.

websiteExample: goodyeartoastmasters.com (“obvious”, which helps with web searches)

Credibility

To show your content is believable, create accounts on
  • Klout: measures online influence (login with Twitter)
  • TrustCloud: gives a ranking of trust from 1-1,000 (like a FICO score)
Your scores will be low in the beginning but should grow over time. Add them now so that you don't need to worry about them later and to start your history early.

Optional

MeetupThere's more you can do.
  • Facebook: page if relevant (example)
  • LinkedIn: business page (embedding Twitter), discussion group (post links to blog posts and encourage members to Like them; may wish to make this private)
  • Pinterest: if your group uses visuals (for photos, Google+ or Flickr may be better)
  • Eventbrite: if you have events with admission
  • Meetup: to attract guests, issue tickets, and allow member discussions (example: www.meetup.com/GoodyearToastmasters)

Challenges

You're not done and never will be. There are challenges with
  • maintenance: easier with volunteers, ideally more than one
  • participation: if members don't participate, the online efforts will fail or place a burden on the few participants
Depending on your technical skills, you may need help from other members. Consistent branding is also worthwhile but not essential prior to launch.

Bonus

There’s an important side benefit from renovating your group’s online presence: members may follow your lead and improve theirs. That’s a nice way to retain members and attract more.

Links

PS What would you add or change?

July 24, 2012

WHY BE A NOMINEE FOR A BUSINESS EXCELLENCE AWARD?

Business Excellence AwardIt's time for the 2012 Business Excellence Awards from the Toronto Board of Trade. I was nominated in 2011. Now I'm on the organizing committee. I'll share insights from both perspectives.

There's value in being a nominee. You benefit even if you don't win.

We’ll explore reasons to accept a nomination in one of the 10 categories ranging from Startup to Entrepreneur Of The Year.

Be Proactive

Who knows your business better than you do? You can be proactive and nominate yourself. After I got nominated, I also self-nominated to ensure that I told my story as well as I could.

Beyond Borders

Business extends beyond city borders. That’s why nominees can come from the Greater Toronto Region. The area seems to extend east to Oakville, west to Pickering and north to Stouffville. This large zone increases the competition and the recognition from participating.

There’s no requirement for nominators or nominees to belong the Toronto Board of Trade.

imageHurdles

Paperwork is a pain but the nomination form is simple --- just one page long. Even so, the perceived hassle will limit participation. That’s to your advantage if you’re a nominee.

Other hurdles can get in the way. As a nominee, you need to believe your business is worthy of winning. If you think public recognition does not matter, maybe the #2 basic fear that Napoleon Hill identified is the reason.

Feedback

Nominees get valuable free attention. Your nomination gets reviewed carefully and you have the opportunity to clarify in a phone interview. The process is geared to helping you position yourself well.

If you get interviewed in person, you get the list of questions in advance. That gives you time to prepare. Explaining what you do is a valuable experience since your clients may have the similar questions. If you feel uncomfortable expressing yourself, maybe now’s the time to join Toastmasters to improve your skills.

Objectivity

The interviewers are not the judges. They collect information for the judging.

Marketing

Films tout their Academy Award nominations. Once you're informed that you’re an official nominee, you can start your marketing.
You needn't buy ads. You can say you're nominated on your website, in your email signature, on your LinkedIn profile, via Twitter, in your infomercials, etc. That's all free.

Consolation Prizes

Even if you lose, you win. You've changed the perceptions in the marketplace, among your competitors and among your staff. You've also changed perceptions in your own head.
You'll be remembered by your interviewers if you stay in touch. Thank them. Offer to connect on LinkedIn after the awards ceremony.

You may find that other nominees in your category have very different businesses. That means they aren't really competitors. You can also connect to nominees in different categories. You can’t lose by getting to know fellow award-worthy people.

There are two other ways to meet the noteworthy: register for the SMB Exchange (blog post) and the Business Excellence Awards dinner.

Links

PS You’re free to nominate others. After you do, tell them why you feel they’re worthy.

July 9, 2012

THREE PROACTIVE WAYS TO BOOST YOUR CREDIBILITY

lighthouseHere are three proactive ways to look more credible:
  1. Write
  2. Speak
  3. Get media attention
Let's assume you are already credible but the world doesn't know this.

Write

Creating original content helps set you apart because so few bother to do the work. You need something worth saying and the ability to say it. You can get better at both.

Blogging is an easy way to start. You've got complete freedom in content, length and style. The challenge is sticking with it. As you do, you'll get better and stand out more. You've then got content to share with Followers via Twitter and other social networks. You also have a head start for writing a book.


If you'd rather talk, then podcast. If you have a knack for showing, YouTube awaits you. Creating content is less painful --- perhaps even enjoyable --- when you pick the right medium.

Speak

If you're on the stage rather than seated in the audience, you will look more credible. You've been endorsed by the organizers. You might even get paid.

Writing helps you create and polish content for your talks.

Are you a good enough speaker? You can practice and improve at Toastmasters. That’s why I finally joined. My club, Goodyear Toastmasters in West Toronto, has a blog for writing practice.

Get Media Attention

If you're interviewed for newspaper, magazine, radio or TV, you have a nice outside endorsement. Don't expect immediate business. Do make reference to the interviews in your subsequent marketing. For instance, add links to the sources or provide additional resources (example).

Are you a good interviewee? If you've been writing and speaking, you probably have opinions you're willing to share in public. You probably know how to express yourself in engaging and concise ways.
TIP: To find out who journalists want to interview right away, join Help A Reporter Out (HARO) and Reporter Connection. Both are free.
Reporters have tight deadlines and may want to talk to someone like you. That’s what happened when I got interviewed by the Toronto Star about marketing and The Globe and Mail about income replacement.

Follow potential interviewers on Twitter. Retweet some of their tweets. Perhaps they'll Follow you. You can now exchange Direct Messages with them, where appropriate. If they're inviting you to connect on Facebook, you've got another opportunity to stay in touch.

Overlap

All three ways to credibility are free and interrelated. You get paid with attention which brings more attention. You build skills in one area which builds skills in another. There's nothing stopping you from starting.

Links

PS How do you boost your credibility?

May 15, 2012

TIPS TO MODERNIZE YOUR WEBSITE

antiqueOld cameras become antiques. Old websites become embarrassments.

A website remains essential for small business. An outdated website is better than no website but not by much. An outdated website is an easy-to-spot sign of neglect that you're condoning. Clients might wonder what other shortcuts you've taken.

This post has ideas to freshen your website.

Life

A static website looks dead or neglected. Add life. Embed your Twitter feed. Have a plugin to show your latest blog posts.

Remove notices of upcoming events which took place last year. Post back issues of your newsletter so that visitors know what to expect before they subscribe.

Depth

Stop teasing visitors. They don't want to fill out forms to get contacted by you at your convenience. Tell them what they want to know. Post a price list or typical price ranges or your hourly rate. Give estimated completion times. Explain your satisfaction guarantee. Describe your process.

Don't worry about your competitors finding out. They may already know or can guess. Don't worry about potential clients balking. They'll find out eventually. Why not deal with the objections online? You'll save their time and yours.

Stock

There's nothing wrong with stock photos unless they look like standard stock photos. Avoid predictability. On your contact page, why show a too-staged-to-be-real smiling woman wearing a headset? We've seen that too many times before. Use real photos instead.

Size

Don't say "we" if there's only you. Use your size as an advantage. Tell visitors why smaller is better. Exude your personality. Leave bland for the big businesses.

You

Keep in mind that for visitors, "you" (meaning them) is powerful. Rather than saying "Our clients choose us for speedy service" how about "You get speedy service from ThisCo" or "ThisCo gives you speedy service". If your competitors also give comparable service, you'll need to come up with something that's different (and still true).

People

Your company has people. Show who they are with a photo and description. Include their contact information too. You want to be easy to reach. In the biographies, include links to LinkedIn for testimonials given and received. Embed their business-related Twitter feed, rather than having a link.
Use the same head-shot on LinkedIn and Twitter. Consistency helps with branding.

Design

"Most websites suck because HiPPOs create them."
--- Avinash Kaushik, Google Analytics
HiPPO means "highest-paid person's opinion". The design you like may not suit your clients. Don't give undue weight to your personal preferences. Use a professional web designer and pay some attention to their recommendations. Your site is not for you.

If your website gets lots of traffic, you can use real-time A/B testing to identify what works best (see Inside the technology that's changing the rules of business, Wired, Apr 25, 2012).

Mobile

Some visitors will visit your website on a mobile device like a smartphone or tablet. How does your site look? If you're using Adobe Flash, parts of your site won't function on iPhones or iPads.

Templates

You can create a business card using templates. You can also create websites with blogging platforms like WordPress or Blogger. You could even do the work yourself. Possible doesn't mean ideal. Your site might look generic and imply your work is too.

Contact

Make your contact information easy to find. Post real clickable email address like myname@domain.com rather than "myname [at] domain.com". With good spam filters, you won't get deluged with spam.

Overall

Appearances matter because clients and potential clients can't tell if you're good at what you say you do. Maybe you were, but are you now? Maybe you can still do good work, but will you for them?

You can provide content to allay the fears. If you claim to offer an excellent seminar, show live video clips. Show samples of the handouts. Consider video testimonials from attendees. There's lots you can do without much effort. 

Links

PS When was your website last updated?

February 7, 2012

SHOW YOUR ROUGH EDGES TO UNLEASH REVENUE

783063_cat[1]
Do you offend enough people? If not, unveil more of your personality.

“Offend” may be the wrong word. “Polarize” may be better. Do you attract/repel people? Yes, you do. There’s not much you can do about this.

Inappropriate Photo?

Your reaction to the photo will depend on your opinion of cats and what you think is funny. If you're offended, would you feel differently if you knew this cat likes sitting here when the equipment is off? Would you mind if this were a cartoon?

Here’s the core question: do you atrract/repel the right people?

Blatant Ways

Consciously or not, you bring others closer or push them away. For example, you may
  • use profanity
  • tell off-colour jokes
  • express your views on religion, politics or current affairs
  • gripe
  • blame others
Even if no one objects out loud, you're offending some and attracting others.

Subtle Ways

Your rough edges also show in other ways. There's no right or wrong.
  • are you technician or a personality?
  • do you pay attention to detail or focus on the big points?
  • do you answer your phone whenever it rings or only when you're in a quiet environment?
  • do you focus on quality or prefer to cut costs?
  • are you a specialist or generalist?
  • are you big-city or small-town?
  • young or old?
  • educated or self-taught?
  • spender or frugal?
Each has an effect. 

The Wrong Fish

If you're not happy with the clients you're attracting, you'll need to make changes. Since we can't see ourselves objectively, you'll probably need outside help to see what's wrong. You can soften some edges while remaining true to yourself.

Try This

You may have difficulty overcoming first impressions and stereotypes. That's why you want to help shape the initial opinions and confound expectations. Let people see the real you as quickly as you can. They’ll learn the truth eventually. If the interpersonal chemistry isn’t there, will they buy from you? It doesn’t matter how much time you spend with them or how logical your arguments.

Can potential clients experience you without the hassle of meeting you? Yes. Online with text, audio, video and photos.

Links

PS This post was written years ago but never published.

September 20, 2011

WHAT ABOUT BOB: IS YOUR NAME MEMORABLE?

HELLO my name is ...A household name has marketing power if it's unique and memorable but familiar. A last name might be enough.

In many cases, we’ll likely guess the same person even though others have the same name. Recognition depends on your age and upbringing. I'd have trouble with celebrities in sports and opera. For instance, I first heard of Lamar Odom this month but you may have followed him on Twitter for years.

Let's leave out the concocted names like Bono, Prince and Sting. Those might work for entertainers but deter your business prospects. The following names came from brainstorming.

Last Names

Bogart, Pitt, Daltrey, Bond, Hilfiger, Schiffer, Stallone, Lennon, McQueen, Branson, Harper, Jolie, Gretzky, Willis, Mulroney, Hemingway, Springsteen, Mellencamp, Hitchcock, Dylan, Einstein, Warhol, Timberlake, Feynman, Oppenheimer, Newton, Jobs, Secord, Houdini, Thatcher, Garfunkel, Nicholson, Zappa, Churchill, Wayne, Hope, Redenbacher, Barnum, Rowling, Streep.

First Names

Angelina, Orson, Eddie, Britney, Ringo, Grace, Quentin, Marilyn, Lenny, Elvis, Halle, Orville, Ezra, Rudyard, Julius, Augustus.

I had trouble coming up with more. Maybe that's because the media tends to report last names. “Bob” is much more common than “Newhart”. Since first names get used more often, why isn’t there more diversity in them? We inherit our last names but our parents choose our first or “given” name. An opportunity to stand out gets lost to the pressure to conform.

Today, an unusual name helps you stand out, though weird spellings get annoying. Like Anthonee for Anthony.

Maybe

Maybe some of the above names were changed from the common ones like “John”.  Some people may only be known locally ... for now. Many of the examples have international recognition. You probably don't need that level of fame.

Your Name

Who knows your name? What connotations are invoked? If you're invisible, you're at a disadvantage.  What does a Google search show? If you're not satisfied with the results, you can start building or augmenting your digital tapestry for free today.

When you search for your business’ name, do your competitors show up first? Could a prospect pick them by mistake? That’s not outlandish. Try remembering the name of movers or financial advisors (especially when they have abbreviated their company names).

Visibility breeds familiarity and familiarity breeds business. There’s a lot in a name.

Links

PS Consider more distinct names for your future children and pets. A domain name makes an unexpected gift!

September 6, 2011

CASE STUDY: OWN A SPECIAL MONTH FOR YOUR BUSINESS (LIKE #LIAM)

own this monthBusinesses celebrate special days such as their anniversary or hold “client appreciation” events. Maybe you do too.

Consider owning a special month instead.

Boring/Predictable

Celebrating the anniversary or birthday of your business is boring and predictable. Why would a client or prospect really care? Besides, special sales or free giveaways look self-serving since you win from additional revenue.

You're really celebrating yourself. It's your party and they can buy if they want to, buy if they want to. Are your customers aching for another shopping opportunity?

Why not celebrate a cause bigger than your company and longer than a day?

LIAM

This is Life Insurance Awareness Month (LIAM). We’ll use that as a case study.

Lamar Odom of the LA Lakers is the celebrity ambassador. Last year's was actress Leslie Bibb. They share their own personal stories to get others thinking about their own situations. Information makes the ideal gift for influence. You show liking for others and your authority (expertise). Giving invokes reciprocity.

LIAM looks well thought-out:
  • extendable: e.g., May is Disability Insurance Awareness Month (DIAM)
  • low key: focused on awareness, not time-is-running-out while-quantities-last selling
  • inexpensive: the gift is online information that’s shared via social media
  • month-long: not an expensive one-day, weather-dependent event
  • repeatable: as a regular annual event, planning is easier
  • not too often: annual works but quarterly would get annoying
Improvements
LIAM can be made more vibrant and spreadable by
  • publishing the videos in HD (no extra cost)
  • making the videos embeddable (no extra cost)
  • archiving content from previous years (no extra cost)
Consider those elements in your initiatives. You get more benefits at no extra cost.

LIFE

LIAM has the advantage of being run by LIFE, a nonprofit organization with support from the insurance industry. You can own your month with your own resources. Put information on your website. Add an intriguing PS to your emails (such as the one at the bottom of this post). Post relevant links via social media. Have a special issue of your newsletter.

What about content? You’ll find lots of linkable items online. Creating some of your own changes you from a parrot to a pundit.

You can share the month. Maybe you participate in a campaign your industry is promoting (as I am with LIAM). You can also piggyback on a bigger event such as Small Business Week by having your own Small Business Month.

The Right Month

Life Insurance Awareness Month is low key and nonthreatening. Who can argue against increasing awareness? There's no request to make donations, provide contact information or Like on Facebook. Instead, you get education and the opportunity to buy.

September is highly symbolic. This is back-to-school time. Routines return. Business gets back to business. September is also the anniversary of 9/11, a reminder that the unexpected happens.

Which month is right for your business?

Links

PS (example) September ‘11 is LIAM. Are you ready?

March 29, 2011

WHY JOIN THE TORONTO BOARD OF TRADE?

Oct 2011: Here's a new compelling reason to join the Toronto Board of Trade: the Business Excellence Awards. I'm proud to be a nominee in the Start-up/New Business category. Here's what happened.

(new) Feb 2013: I'm no longer a member. Here's why.

Toronto Board Of Trade: We Belong mark for membersJoining a Board of Trade or Chamber of Commerce is a path to success. You're supporting the local business community and finding new business opportunities.

If you join and wait for prospects to send you money, you'll be disappointed. What you get depends on what you give. You need to participate. Remember the power of consistent persistent generosity?

I joined the Toronto Board of Trade four months ago through Taxevity.

Two Poles

The Toronto Board of Trade (TBOT) faces a particular challenge. Members include the biggest and smallest companies. It's easy for small business to feel neglected when big business reserves entire tables in the prime spots at events.

The TBOT's solution is to hold lots of events — over 100 a year. That broad choice lets you choose what suits you. There are breakfast speakers like LinkedIn's Jonathan Lister and Google's Chris O'Neill. If trekking downtown to First Canadian Place is daunting, there are activities at other locations. I especially like Top of Toronto for networking. Perfect format. Smooth orchestration. For some (pleasant) reason, you don't find the "riff raff" common at many another places.

You also get a volunteer Ambassador to help you benefit from your membership. Mine is golf whiz Andre Gillezeau (LinkedIn profile).

Participate

There isn't much opportunity for members to help members by joining committees, writing or speaking. What else can you do besides network and sit in the audience?

Two months ago, I talked to Ravi Nayak, Senior Manager, Small and Medium Markets (LinkedIn profile). He made an excellent suggestion: participate in the private Toronto Board of Trade group on LinkedIn. I did.

That lead to an unexpected opportunity to publicize the TBOT and me.

Interview

Yesterday morning, Chris O'Neill, the head of Google Canada spoke. I had two conflicting meetings and couldn't attend but the Toronto Star did. Journalist Cynthia Vukets (@cynthto) wanted to interview TBOT members who used social media well. Jamohl Rutherford, Manager, Member Services (LinkedIn profile) suggested me. I agreed.

Cynthia called right away. She asked if I'd like to chat then or after getting photographed. I suggested we talk first because if I was a bad subject, she could cancel the photography. [Another newspaper once deemed an interview with me boring to publish (see How an actuary invests)]. Cynthia already looked me up online and decided I was fine. That's exactly why you need to use social media too.

The Toronto Star has photographers on standby. Within 90 minutes, Lucas Oleniuk arrived (Mediastorm page and photos from the Greenwall of China). When he saw my office (which I barely finished cleaning), he immediately knew how to compose the frame. Since social media is intangible, he wanted to show the human element.
Photo of Promod Sharma by Lucas Oleniuk (click to read article)
My webcam shows me on a screen facing him. Lucas shot the real and virtual me together. He took 55 shots with two massive Nikon cameras. He'd later upload two or three via his iPhone and await his next assignment, the third of the day. Gone are the days and surprises of darkrooms.

The resulting article, Small Businesses Follow Customers Online was published the same day. The TBOT gets mentioned, president Carol Wilding gets quoted and two members get profiled: Hilde Reis-Smart (LinkedIn profile) and me. That's great for one article. Your thoughts?

How This Happened

The Toronto Board of Trade has some 10,000 members but less than 9% belong to the LinkedIn group. Standing out is easy when others aren't visible, persistent or consistent. Do you belong to relevant LinkedIn groups?

Before joining the TBOT, I had questions and a hectic schedule. I asked if someone could call me at 1 PM the next day. Jamohl phoned right on time. I didn't realize he had a senior role. He convinced me to join even though I'd never attended an event.

During the last four months, we've exchanged several messages through the LinkedIn group. Most recently, I alerted Jamohl to a spammer and he quickly responded. We first met five days ago at a new member bash and he remembered me from our limited contact.

Test Drive

Nonmembers also gain from the Toronto Board of Trade. You can attend events as a visitor but members are more likely to give business to fellow members. I'm glad I joined and look forward to helping more.

Links


PS If you aren't in near Toronto, check out your local Chamber of Commerce or Board of Trade.

October 12, 2010

THREE MARKETING LESSONS FROM THE iPAD

iPad 450x599
On Sunday, I went out of my way to visit an Apple store for the first time. The place was buzzing with activity and energy. I've never bought an Apple product but wanted to see an iPad for myself. That's the power of marketing — attracting a disinterested client.

The iPad teaches three valuable marketing lessons
  1. Show, don't tell
  2. Lock the price
  3. Sell the old model

Show, Don't Tell

People can't easily tell what they want before they see it. Can you? That's why focus groups and market research have limited value for new inventions like overnight delivery, bank machines and smartphones. Watching is a much better measure of intent than listening.

The Original Tablet

Tablet computers have been around since 1992 when IBM launched the ThinkPad 700T. There have been many models from various companies ever since. Microsoft Windows has supported tablet PCs since 2002. Yet sales were limited.



Enter Apple

Within 80 days, Apple sold three million tablets — more than all models from all other companies combined. There was a market after all.

What happened? Apple showed people what the iPad can do. Through their stores, their own experts answer questions and let visitors try for themselves.

Within a few minutes, an Apple rep showed me the capabilities and had me sold. The only question was which model. And you thought actuaries couldn't be impulsive. My family was with me and discouraged the purchase. So I walked out empty-handed.

What do you show and let potential clients touch? This is tougher if you sell a service, which means that what clients touch has even greater impact.

Lock The Price

Prior to launch, there were questions whether Apple would manage to get the price of the iPad below $1,000 US. They managed to charge $499 for the base model with prices ranging to $829.

Model
16 GB
32 GB
64 GB
WiFi
$499
$599
$699
WiFi + 3G
$629
$729
$829

With that much choice, price isn't much of an issue. Also, prices seem to be the same at the few places like Best Buy that are authorized to sell the iPad.

To some buyers, price is probably incidental. They have to have it. There's similar fervour when a new Blackberry or iPhone gets launched.

Are you selling on price or do you offer a range? The range may consist of offerings from different companies (e.g., at Best Buy) or a range with offerings from one company (e.g., at Apple stores).

Sell The Old Model

You don't need to sell the best … if you're perceived as first to market and have a reasonable price. Perfection can come later.

These deficiencies haven't deterred early adopters
  • no multitasking (coming with iOS 4.2 in November)
  • no USB connection
  • no HDMI output (but a VGA connector is available)
  • no 4G option
  • no widescreen (4:3 ratio 1024x768 resolution)
  • no camera
Despite the shortcomings and ridiculed name, Apple sold three million iPads in 80 days. At the $499 entry price, that's $1.5 billion in revenue. First year sales are higher than for the original iPhone or DVD players.

If you won't buy until minimum standards have been met, Apple has given you reasons to wait for the iPad 2 (and perhaps to keep you away from competitors). For current buyers, Apple is creating anticipation to encourage upgrades to the iPad 2 and additional purchases for other family members.

Are you creating anticipation for future sales? Are you selling what you have now or pausing until the new models come out?

What's Next?

Competitors are on the way. Apple can probably maintain momentum and market share by reducing prices prior to introducing the iPad 2.

Links


PS I may be back in an Apple store before long … without my family

PPS You can now rate posts. Please do.

July 13, 2010

How To Make Your "Cherry Farm" Worth Picking

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There are lots of cherry farms (in the places that cherries grow). The fruit is identical. The prices are the same. The colour of the red barns is indistinguishable.

If you were the farmer, how would you get people to pick your farm?
This weekend I went to a cherry farm (Cherry Avenue Farms) for the first time since high school.

Here are the three lessons from the visit
  1. market
  2. organize
  3. make money

Market

We passed many other farms on the route to our choice. The driving for the round trip took three hours. Even if the fruit were free, we'd have saved money at the grocery store or local farmers market.

There were 34 buses scheduled that day. The facilities were equipped to accommodate them.

The website has an intriguing story. The farm was established in 1799 and the seventh generation runs it on the original 100 acres. Content is up-to-date, which means you don't need to phone to see what fruit is available or the prices.

Organize

Given the volume of cars and buses, parking could have been horrible. Ample staff directed cars to vacant spots with barricades between rows. We parked on grass. A larger lot was gravel.

There were proper washrooms and shaded picnic tables.

We waited under a shaded tent for a tractor ride to the orchard. The ride and parking were free. Staff were pleasant throughout (as non-city-dwellers seem to be).

Trees were pruned to keep some fruit low enough for picking by hand (maybe this is normal?). Many ladders were also available.

Make Money

Because of the limited growing season, farms need to make enough money to last all year. Here were some techniques used:
  • a $4 entrance fee, guaranteeing some revenue from each visitor
  • megabaskets holding 10-15 pounds of cherries: we tend to empty our plates and fill our baskets
  • diversified crop: different fruit to pick all summer (golden plums, peaches and apricots next), giving reasons to return
There may have been a gift store, but we didn't visit it. This farm focused on efficiency. They wanted to catch more fish, rather than fewer bigger fish.

Since we didn't want many cherries, the price didn't matter much. We would have even paid more than retail to pick (and sample) fruit right from the tree. You can't get any fresher than that.

Most visitors would expect discounted prices that matched nearby farms. If you ignore the cost of your time and fuel, you can convince yourself that you're "saving" money.

Overall

The overall experience was wonderful. Beautiful weather. Delicious sweet cherries aplenty. This farm raised expectations, like the dentist. Maybe we'll return when the grapes are ripe.

Even a cherry farm can stand out. So can you and your business.

Links

June 22, 2010

Seven Questions To Describe Your Business

Question marks (250x229)(Actually, your answers describe your business.)
A prudent question is one half of wisdom.
— Francis Bacon
Most businesses can't answer the tough questions their prospective clients harbour. The questions may go unasked, but that doesn't mean they aren't lurking.

The Magnificent Seven

Here are seven questions worth answering
  1. Who are we?
  2. What do we do?
  3. How do we do it? (describe your process to build comfort)
  4. What won't we do? (don't skip this one)
  5. What makes us different? (have an answer your competitors can't also use)
  6. When would someone need us?
  7. Who do we serve?
An answer needn't be long. A few sentences will do. Brevity beats verbosity. You'll need time and concentration to think, though.

If this list is too long, maybe the three questions for your 10 second commercial fit you better. Notice the overlap?

Get Help

If you're stumped, ask someone who's good at listening and probing.

If you aren't sure your answers are good, ask others. Ditto if you think your answers are great. We can't be objective about what resonates with clients. It's too easy to develop generic answers that your competitors could --- and do --- use too.

Once the answers seem right, polish them. You may need help with the editing.

Other Uses

Once finished, share the results with co-workers and new hires. This helps build shared commitments. You also have the seeds of a mission statement.

Why not post the answers on your website under Frequently Asked Questions? Your marketing material can pose questions to which your company is the answer. In networking meetings where you have 30-45 seconds to introduce yourself, use one or two points and make them memorable.

Aspire

What if you don't like your replies? Write the ideal answers and work to make them true.

Links

June 8, 2010

The Six Elements Of Credibility

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"Credibility is the only currency in the vast and noisy marketplace"
--- Pete Blackshaw

Consumers can now make themselves heard for free and permanently via Consumer Generated Media (blogs, videos, photos, comments, Facebook, Twitter,…).

Your credibility matters ever more, but what are the ingredients?

You'll get an excellent explanation in Satisfied Customers Tell Three Friends, Angry Customers Tell 3,000: Running a Business in Today's Consumer-Driven World. Author Pete Blackshaw identifies the six elements of credibility
  1. Trust
  2. Authenticity
  3. Transparency
  4. Listening
  5. Responsiveness [to feedback]
  6. Affirmation [verification/confirmation]
Each ingredient is powerful alone. Since they're interrelated, each matters. We'll look at #1, 5 and 6 in more detail.

Authenticity

Since the Internet remembers, deception is easy to spot and impossible to erase.

For reasons unknown, the author doesn't bother to read his own audiobook. Doesn't he care? Does he sound terrible? Is he lazy? The narrator, Lloyd James, has read over 160 other books. So this book feels more like Lloyd's than Pete's.

Trust

Consumers trust consumers most. Neilson Research repeatedly shows that after word of mouth, the most trusted resource is a brand's website. Visitors arrive looking for information and to solve problems.

If you don't have a website by now, you're doing yourself a great disservice. If you don't have the right content, you're doing your visitors a disservice.

Responsiveness to Feedback

Listening is important but what's the point if you don't respond to what you learn? Quick, appropriate action is ideal. It's easy to mess up. The consequences last forever.

Here's a touching example from Ellen Roseman's blog: Widows waits 11 months for life insurance to be paid. In the first comment, the widow gives a detailed explanation of what happened. She concludes, saying the insurer "discredited the entire insurance business in Canada, the idea and meaning of insurance." Other comments echo this tone. Where is the response from the insurer? Do they even have a Google Alert to track when they're mentioned online?

In contrast, in How to cancel your fitness club membership, the COO rectifies the problem promptly. That's not the end of the story. Other commenters identify more bad behaviour at the same chain. No response. How likely are you to join that club? [Read about more fitness club options.]

Simply adding links to the above blog posts increases their relevance to search engines.

Affirmation

If you make a key claim, your potential client may look for confirmation elsewhere. If they don't find it, they won't believe you.

Here's an example. I'm thinking of joining a for-profit networking group. Online, the organization gets more complaints than compliments. I asked around and found widespread dissatisfaction among prior attendees. I asked an organizer basic questions and got no reply. Given that, how much faith can I place in the glowing praise on their website?

Pete makes the six elements of credibility easier to remember, hence easier to apply. The many examples in his book remind us of the benefits. And consequences.

Links


PS The same narrator reads Nudge: Improving Decisions About Heath, Wealth and Happiness (amazon.com)

May 4, 2010

How Would You Market A Family Office?

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How do you launch something the world didn’t know it was missing?

Consider the “family office” concept, which is new to Canada. This sounds like a home office for the whole gang but it’s not.

You get an integrated service to meet your life goals. Think of financial services combined with concierge services and mentoring. You get advice from people you trust in the areas of risk, accounting, investments and law (the Financial TRAIL). You also get help tailored to your specific concerns. Maybe you need help running your household or resolving family conflicts.

Aren’t services like this already available?

Besides, we don’t shop at department stores much anymore. So how could one-stop shopping beat boutiques? Accountant and Globe & Mail writer Tim Cestnick explained the family office concept in a compelling way at CALU 2010 yesterday.

Past Explanations

Most promoters of one-stop holistic services have two self-serving underlying goals
  1. cattle: imprisoning clients with additional products and services to make escape difficult
  2. lemons: squeezing more revenue out of each client (and discarding the ones that aren’t juicy enough)
Why would clients allow this? Convenience. A smartphone isn’t as powerful as a separate phone plus a camera plus an organizer. Yet we accept this compromise and even get new functionality. For instance, you can click on a phone number in an email to dial. We also save time shopping.

Want Fries With That?

When bundling, there’s often a bias towards our core business.
  • buy Internet access from your phone company and they’ll nudge you to get their phone service
  • buy Internet from your cable company and they'll nudge you to get cable TV
  • get a mortgage from the bank and they'll nudge you to add day-to-day banking
In the financial world, the core is usually investments and sometimes insurance. That might create a real or perceived bias in the recommendations. Why not sell your wisdom directly, as Dan Sullivan suggests?

Family Office

Tim presented three case studies which were simple, yet well thought-out. There was a bonus anti-case study which showed the drawbacks of using “silos”. We tend to focus our prospects on benefits but loss language convinces better (the #2 universal principle of persuasion). Using both is ideal. Carrot + stick.

Cost

While Warren Buffet can easily afford a private jet, he traded in The Indefensible for fractional ownership in NetJets (now a Berkshire Hathaway company).

Similarly, a family office solely for you gets pricey and may not even be desirable. You might be better off with a time-sharing model, the multi-family office. Think of Warren again. He donates to the Bill and Melinda Gates Foundation rather than duplicating efforts.

Why Not Prevalent?

In real life, assembling a team with both chemistry and credentials gets very challenging. How do you resolve disputes? If consensus id the norm, are the team members just rubberstampers?

Still, there’s a great marketing story. Can you think of one to set your business apart?

Links

April 20, 2010

Getting Past The Barriers to Entry

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While you're deciding whether to start something new, the barriers to entry are growing higher. When you do proceed, you need to meet those higher standards to be taken seriously.

If you're new to presentations, you might think clipart and standard templates are fine, but they're outdated.

You may be recording your first video, but now viewers expect good sound, editing and a clear picture (maybe even high definition).

If you're a pioneer, your audience is more forgiving. If you're a follower, you're seen as … a follower. Who's interested in another “me too”? To stand out, you'll need to be better than the current standard. That's tough without the experience that the pioneers got by making mistakes, fixing them and evolving.

So what happens? The higher barriers keep you out. Your competitors win. Don’t let them.

You don't need to be the first but early adopters get an advantages the copycats aren't likely to match.

Here's a simple example. I saw a Blu-Ray disc player from --- hold your breath --- Hewlett-Packard. Exhale. Do you think HP is going going to be a leader in this marketplace? Couldn't they use their resources better somewhere else?

Optical Illusions

The barriers may not be as high as they appear. For example, joining Linkedin today is fine if you set up a proper profile. You’ll look like you belonged for years. You may even look better than the earlier adopters.

This won’t always work, which is fair. For example, if you’re writing or posting video, visitors can easily see what you shipped and when you started.

When Late Is Early

Some businesses move faster than others. The tech industry experiments more than financial services. Youth are usually earlier adopters than 50-somethings.

This works to your advantage. Paying attention to what’s taking off in other industries or demographics, lets you bring ideas to your niche. You look like the leader when you’re really a follower. You then establish standards and barriers for your competition. Nice!

The Best Time To Start

The best time to plant a tree is 20 years ago. The second best time is today.  --- Chinese proverb
You may not be too late. Brian Tracy says that the way to get to the front of the line is to
  1. get in line
  2. stay in line
That simple advice empowers you to start. Granted, you’ll need to meet today’s minimum standards. Maybe that means practicing in private until you’re ready for your debut.

Links

March 15, 2010

Where's The Music In Your Store?

We're shopping at an outdoor mall in Pennsylvania with stores like Banana Republic, Izod, Nike and Tommy Hilfiger.

It's just after opening on Sunday March 14, the day Daylight Savings Time ended. When clocks "spring ahead", an hour of sleep vanishes since people rarely go to bed an hour earlier. That means small crowds and lots of parking. We're also up because a waffle maker in our hotel's breakfast lounge triggered a fire alarm at 6:48 AM.

Even without people, there's sound everywhere: music. Lively and mellow. No deep messages, though. Variety. No heavy metal. Some stores play current hits. Others pick classics. Crocs played commercial-free Sirius/XM satellite radio.

The Effect
Music makes shopping more enjoyable. This inexpensive extra helps establish an atmosphere. Hey, can we go to Banana Republic to check out the tunes? Not quite. The music isn't enough of a draw on its own but adds to the experience.
Other atmospheric elements are lighting, flooring and location. And smiling staff. And even crowds. Your choices send messages about your quality and prices, whether value or premium. You wouldn't expect paper napkins at a nice Italian ristorante or cloth napkins at Pizza Hut.
Maybe the music is a modern replacement for bland Muzak. Maybe the tempo changes during the day. The music definitely beats silence and the mundane chatter of other shoppers. Shoppers probably linger longer and spend more.

Where's the music in your store?

Links
PS If you visit clients, you're bringing part of your store. What atmosphere accompanies you?

February 23, 2010

Elmer Fudd and Other Musings for Personal Brand Camp 2

Personal Brand Camp 2 takes place today for students of the Humber PR program. As a volunteer mentor, I've been thinking about personal branding. Here are assorted musings on
  • how your brand ages
  • what you're known for
  • brand pixels
  • Elmer Fudd
Does Your Brand Change With Age?
We change as we age. What about our personal brands?

If You're A Student
You want lifelong consistency as you go from challenging the status quo to being the status quo. From tearing down the walls to fortifying them.

A personal brand built on timeless principles endures. The principles guide you when you make decisions.

Suppose you believe in accountability and work in the mobile phone world. Maybe you'd feel compelled to disclose the full price including activation fees, system access fees, usage fees, roaming charges and cancellation penalties. If you believe in fairness, maybe you'd drop cancellation penalties, a way of forcing customers to stay instead of earning their loyalty with quality, service and value.

If You're Already Old
Maybe you haven't thought deeply about your personal brand. Have you seen the Up Series, which looks at the same people at ages 7, 14, 21, …, 49? You'll notice common elements that defy aging.

What beliefs been consistent in your life since childhood? What events shaped you? They are part of your brand. If you're stumped, try asking people who've known you over the years.

What Are You Known For?
What do people say about you? I'm often called an actuary with a personality. This implies technical knowledge and accessibility --- a good combination. Contradictions intrigue.

What do people count on you for?
  • Showing up, blizzard or balmy?
  • Coming up with brilliant ideas?
  • Getting things done?
  • Solving problems?
What do you do? Not talk about but actually do? Actions beat words.

What do you want to be known for?

Brand Pixels
Everything you do adds pixels to the brand you're painting. Over time, your image develops, gets larger, has higher resolution and becomes permanent. Your mistakes get hidden in the larger tapestry.

What people expect from you depends what you did in the past. You can't build your reputation on good intentions. Even if you're entering a new venue, your past successes help others gauge your likelihood of success. That affects the financing available, the collaborators you attract and even customer demand. Think of the high expectations for the Apple tablet prior to launch. Apple was expected to succeed.

Have visible proof of past success.

For students, this means
  1. your grades
  2. your activities
  3. your portfolio
These factors especially matter when you're selling a service --- as intangible as the promise of a brand.

The same three elements of past success apply in the working world, except your grades now take the form of testimonials. You want your portfolio visible online so anyone can find you and give you a "test drive" anonymously.

Networks are important too. Online, networks have the additional advantage of showing your connections. Since we're judged by the company we keep, there's an element of endorsement. You may want to separate your business and personal lives.

Since your digital footprint is permanent, do take care in what you say and do. Your growing tapestry makes flaws less visible but that doesn't mean everyone will overlook them --- especially if they feel other options are readily available. Do you feel the same about Perrier after the Benzene scare? Or Firestone tires after blowouts caused 200+ deaths? Or Sony after the exploding laptop batteries? Or Toyota after recalling millions of cars?

Elmer Fudd
Question 8: How do you elevate your brand to Elmer Fudd status: endearing, yet feared?
Personal Brand Camp 2 answers 20 questions. That's the one I'm helping students discuss. Can you help too? Please take a few minutes share your thoughts here.

Links