Tag Archives: marketing

Quit Fishing for Publicity, Reel in the Media

By Russell Trahan

There is an old proverb that goes, “Give a Person a Fish, and You Feed Them for a Day. Teach a Person to Fish, and You Feed Them for a Lifetime.” The same can be said about publicity. If you do publicity once, you’ll only get business for a day. However, if you do publicity with frequency and repetition, you’ll build a business that will feed you for a lifetime.

There are several other ways fishing is similar to publicity, there are a few:If you do publicity once, you’ll only get business for a day. However, if you do publicity with frequency and repetition, you’ll build a business that will feed you for a lifetime. Click To Tweet

Knowing What You’re Fishing For/Knowing Who Your Target Market Is

First, you have to decide what you’re fishing for, then you go where they are. If you’re fishing for trout you would go to a lake. If you’re fishing for salmon you head to a river. And, if you’re fishing for Mahi-mahi you would gas up the boat for some deep sea fishing. The same is true for your target market. Once you decide who your target market is, you go where they are. If you want name recognition in front of business decision makers you would go to trade, industry, or business association publications. If you want the attention of single parents you would go to women’s magazines or mommy blogs. Every market has magazines and blogs they read regularly. Know who your target market is and where they’re located and you’ll get a bite every time.

Having the Right Lures/Position Your Expertise

In a lake you would want a bobber and lures to attract the fish’s attention. In a river or stream you might want to use a fly-fishing pole. On the ocean, of course you’d want to be fully strapped in with a strong line and reel. The same is true to positioning your expertise in a way the reader wants to see it. You may think that since Entrepreneur, Fast Company, and BusinessWeek are all business publications you can send the same press release to all of them. Consider their core reader: Entrepreneur says who they are in the title; Fast Company attracts the reader who wants new, now, next; and BusinessWeek is the old steady blue-chip business person. So, if you tailor your press release to the reader of the publication you want to get into you’ll have them jumping out of the water for you.

Using the Right Bait on Your Hook/Using the Right Content in Your Hook

Whether you use a worm, eggs, or chum depends on the fish you want to catch. The same is true for the content you use to hook the media’s attention. If you don’t get the media’s attention, your target market will never see your content, so you have to present your content in the right way. So many people make the mistake of presenting themselves as the story. What the media cares about is what you can do for their reader; who you are and why they should listen to you comes second. Press releases should not be advertorial or self-promotional; they should be educational, informational, and content-driven. Lead with your unique stance or controversial opinion. Offer the media additional information on a story they’re already running and they’ll be itching to take the bait.

Telling a Fish Story/Using Your Publicity

Every fisher has a whopper of a story about the one that got away, but just as many have trophies mounted on their walls to prove their skills. The same is true with your publicity; you’ve got to tell a good tale about it, otherwise you might as well cut bait and walk away. Start an ‘in the media’ page on your website. Nothing impresses a potential client more than knowing the media considers you the go-to source for information on your expertise. Even if your business is just in the local market, don’t shy away from national press. Showing a local realtor you’ve been in a national real estate magazine will be just as impressive as being in the local newspaper. Use the publicity you receive in your social media as well. If you’re a B2B business you would want to focus on LinkedIn, or if you’re B2C you could use Facebook, Pinterest, Instagram, or others.

If you’re hoping to build business name recognition, increase market awareness, or boost sales, you first need to drop your line into the water. Wading in to the mainstream media doesn’t have to be a scary situation. Knowing who you want to hook, and having the right bait in your tackle box will land you publicity without much of a struggle. Regardless if you’re standing on the banks, using a row boat, or in a trawler, it’s about positioning your content in front of your target market in a format they want to hear, then just sit back and reel them in. You’ll have a net full of media placements to use in your marketing for a lifetime.

 

Russell Trahan is the Owner and President of PR/PR Public Relations and Author of Sell Yourself Without Saying a Word. For twnety years PR/PR has enjoyed a track record of getting 100 percent of their clients placed in front of their target market. For more information, please visit www.prpr.net.

Target Marketing: Enhancing Your Sales and Marketing Effectiveness

By Jill J. Johnson

Jill Johnson - target marketingYour customers can be grouped according to a variety of different identifiable characteristics that reflect their specific needs and interests. These needs and interests impact their attitudes toward purchasing decisions. Each of these groups is called a target market. Target marketing is the response to identified market needs. These needs will differ for groups within the total population and they can change over time. Target marketing can turn challenges created by changes in our economic environment into opportunities to better achieve your organizational goals.

While it may seem very limiting to narrow your market, the truth is you cannot be all things to all people. It is difficult and costly to develop effective promotional messages or reach your most likely purchasers if your target is too broad.

There are three major components to developing effective target marketing for sales results. First you have to clarify your market segments. Then you have to engage in data mining to verify the market opportunity really exists. Finally, link your target market to your operating, sales and promotional strategies.

1. Clarify Your Market Segments

A solid framework for evaluating your target market incorporates many different variables to develop your customer profile. The key is to begin to identify the distinctive patterns of attitudes, desires, concerns, and decision-making criteria for them. By understanding these elements, you can focus your marketing approaches to more effectively reach your target audience and to influence their purchasing decisions. Customers are more likely to identify with messages specifically tailored to their individual needs.

Target marketing typically incorporates an assessment of the demographics of your customer base. There are many demographic variables that can be easily identified and measured. A few examples for a consumer market include such aspects as age, gender, income or marital status. Business customers can consider aspects such as employees, revenue, or years in operation. Knowing where your customers live or work is another method for evaluating your target market. Geography is typically combined with demographics to measure market size.

The psychological profile is an exceptionally important variable in target marketing. Understanding your customer’s personality, buying motivations and interests provide powerful opportunities to develop communication messages designed to trigger a buying response in your customer.

Other variables may influence your customers’ purchasing decisions. These can include generational differences or customer brand loyalty. They may be highly influenced by other people being involved in their purchasing decisions. Do you need to position your marketing messages to influence decision influencers too?  Clearly assessing these target market segments provides a gateway for creating better marketing messages to ensure your customers and their decision influencers are compatible with your options.

 2. Data Mining

The second critical step to developing your target markets is to quantify your market size. You do this by data mining. Data mining involves analytically reviewing your internal customer and comparing it to external market information. Look for patterns and relationships to help understand your customer’s buying patterns and opportunities to influence them at each stage of their buying decision cycle.

Start by reviewing your Internal Customer Data. Prepare historical summaries reflecting several years of data. Most people only look at one year of data—this is not sufficient to help you determine if your market has achieved its maximum potential or is on a decline. Look for trends and patterns. What types of profiles can you create of those who buy from you? When do they buy? Who is most profitable to you? Start evaluating how effectively your marketing approaches reaches them and matches their purchasing decision approach.

Then, conduct a detailed review of the available External Data. Assess how your current customer profile matches up with the real market opportunity. Do the demographics show a potential for long-term growth? Does the data show anything else that might impact your sales success?

3. Tie Your Target Market to Your Promotional Activities

Promotion must be customer oriented and matched to how, why and when they buy. Where do they look for information to solve their problem or meet their need? It is not about what you want to sell them. You will need different marketing messages for those who are at the awareness stage gathering information than those who are ready to make a final purchase.

Match each of your promotional efforts to your target market. Clarify in detail how it benefits or provides value to them. What needs of theirs does it meet? How does it meet their needs in ways your competitors cannot?

Make your prospective customers understand how you will help them solve their problems or meet their needs by using your target market insight to customize your promotional messages! Tie your promotions to their decision-making cycle and move them through their purchasing decision-making stages in a deliberate and effective manner. Heal their pain points!

There are numerous promotional options beyond sales activities that can help you communicate with your target market. These include advertising, public relations, social media, collateral materials, direct mail, email campaigns, website, tours, presentations, networking, participating in community events, open houses, trade fairs, using giveaways and generating referrals from satisfied customers.

The effectiveness of how you communicate your value to your customers and key referral sources will determine your ultimate sales success. Communicate with them in the ways they expect. Develop a matrix to clearly define each target market you want and need to influence. Then identify how you will use each promotional opportunity to communicate with and influence each market segment.

Final Thoughts

Using target marketing provides you with a disciplined approach to crafting highly effective marketing messages that have the potential to drastically influence your sales. The process of target marketing is on-going and dynamic. You have to work hard to keep up with your market and discern when it is changing. Changes can be subtle. You will need to adjust your strategies to change with them or you may have to find new customers to remain a viable business.

Jill J. Johnson is the President and Founder of Johnson Consulting Services, a highly accomplished speaker, an award-winning management consultant, and author of the bestselling book Compounding Your Confidence. Jill helps her clients make critical business decisions and develop market-based strategic plans for turnarounds or growth. Her consulting work has impacted more than 4 billion dollars worth of decisions. She has a proven track record of dealing with complex business issues and getting results. For more information on Jill J. Johnson, please visit www.jcs-usa.com.

What Your Signage Says About You

By Anne Connor

Anne Connor-signageBen could hardly wait to set up his own business after years of working for a large company. Knowing the demographics of his market area, Ben wanted to market to the large Latino population there. So, he looked up the key words in Spanish and created a beautifully designed website and colorful, eye-catching signage to attract new business from the surrounding Spanish-speaking communities. Then he decided to hire his former coworker Carlos—who grew up in a bilingual home—to handle potential customers who felt more comfortable doing business in Spanish. The catchy bilingual sign Ben came up with turned heads as well, but not for the reasons he expected.

Your signs say a lot about your business—your expertise, attention to detail and overall competency. Click To Tweet

¿Qué Pasa?

Business was underwhelming at first. Latinos who did stop in to were genuinely surprised to find an employee who could speak their language because the sign out front contained “Spanish” words that were misspelled, missing accents or even non-existent! For instance, the Spanish word “servicios” was spelled as “servicies” instead.

Ben didn’t think much more about it until another Spanish-speaking lady came by to say that she was confused about one type of business offered because of a literal translation of “umbrella” as something to do with the device that keeps the rain off of you, not an encompassing service. While Carlos took the extra time to explain this to her, Ben suddenly realized that his seemingly minor mistakes were costing him business. As soon as he replaced all the signs inside and outside of his office —not to mention reprinting flyers and updating his website—at a substantial cost, Ben’s profits picked up tremendously.

Experienced signage professionals say some of their toughest jobs involve deliberately misspelled words, such as “Korner” or “Qwik,” which are meant to be catchy and attract attention, because they require extra quality-control steps. And if they’re making signs containing foreign languages, they usually ask their clients to have them proofed by a professional translator. Sign creators make sure the design is right, but most are not language experts as well.

Signage that Sells

As a business owner, your signage speaks volumes about you. It’s that first impression that will either encourage someone to step through your door—or click on your website—and take a closer look at what you have to offer. Here are some tips to make sure your signage sells:

  1. Make your stand-alone storefront stand out. Your logo and/or trade name should attract attention. Be sure to fully brief your designers: Who is your target customer (walk-in, passerby, drive-by, all of the above)? Ask for their advice about the appropriate font style and size for each piece of information and each kind of sign they make you. Remember to include your address number, phone number and website on the sign as well.
  2. Be consistent. Brand recognition is key, and consistent signage will help you build a recognizable brand that people will remember. Make sure your branding is on everything—from the sidewalk signs advertising special sales to the teardrop banners you use at trade shows. If your brand always speaks with one voice, more folks will remember your name for word-of-mouth referrals.
  3. Show them the way. Design branded way-finding signs that are concise and unambiguous. Make it easy for anyone to find you and less likely to find one of your competitors.
  4. Speak their language. Do many of your customers speak English as a second language? Consider hiring bilingual staff and announcing loud and clear—on your signs! —that your business can assist them in their native language. If nothing else, consult professional translators who specialize in your industry to ensure your marketing materials send the right message. Studies show that people prefer to shop in their native language.
  5. Keep them safe. If you employ people with limited English proficiency (LEP) or cater to LEP customers, you’ll not only help prevent workplace accidents, you’ll also win over staff and customers by having safety signs printed in their native/dominant language. Make sure to use professional translators with experience in occupational safety. They will not only ensure your signs send the right message; they can also make sure that message fits the sign, as letter-spacing and other nuances may need to change depending on the target language. Note that the US Occupational Safety and Health Administration provide the “It’s The Law” safety poster in several languages for free at: https://www.osha.gov/Publications/poster.html. And don’t forget that some US states and territories have their own signage requirements. Check whether yours is one of them at: https://www.osha.gov/dcsp/osp/index.html.

As a business owner, the last thing you want is for your signage to turn people off before you even have the chance to meet them. Your signs say a lot about your business—your expertise, attention to detail and overall competency. A well-designed, consistent and flawless message across your print and digital media will build positive brand awareness, get people in the door, and ultimately boost your bottom line.

Anne Connor is a professional Spanish and Italian-to-English medical and legal translator and an active member of the American Translators Association. The American Translators Association represents over 10,000 translators and interpreters across 103 countries. For more information on ATA and to hire a translation or interpreting professional, please visit www.atanet.org.

1+1=7: Leveraging Value-Based Healthcare for Positive ROI

By Gregory T. Reinecke

Gregory T. Reinecke-healthcareChange is about change! In the healthcare industry, the Patient Protection and Affordable Care Act of 2010 included another definition for clinical success. The government determined success to mean a patient does not return to the clinic within thirty days of original discharge. This is now old news. Yet a survey in 2017 showed that 59 percent of healthcare organizations (up from 33 percent in 2016) still had concerns about the Affordable Care Act. The consensus was that dealing with this move from a volume-based care requirement to a value-based one is still of concern.

The shift from fee-for-service to a value-based model is driving change and a rethinking of doctor/clinic and patient relationships. With change you are forced to review allocation of resources, investment strategies, and even to do more with less. In this changed landscape—in a value-based environment—how do you define ROI? Where do you invest?

With a greater awareness and focus that past practices in treating and releasing patients will need to be revamped, new consideration on non-clinical patient information has become important. In the current approach, the doctor is concerned with the patient in a one-on-one relationship. In the new environment, the interaction with the patient goes beyond the clinic and into non-clinical areas.

What is in the patient’s home environment that supports or does not support healing and wholeness? What external factors are detrimental to a patient’s ideal recovery? These factors have been noted to include social and physical determinants. How does one sort these new factors and determine where to invest?

Value-based healthcare clearly shifts the practice to include more people-side intangible factors—into areas not as comfortable for the medical practitioner. The practice of medicine deals mostly with specifics, not with non-specifics such as feelings and emotions. The new practice of medicine is moving into a full partnership with intangible factors, especially social determinants that affect success of healing and wholeness for a patient.

A 2018 report of data collected from 300,000 Americans identified factors that create healthy living environments. They reported that only twelve factors contributed to 90 percent of the variations in the well-being of people across the country. These factors were related to demographics, clinical care, social and economic factors, and the physical environment.

It is clear the welfare of patients is no longer focused in the clinic, but has broadened into a holistic, community enterprise. You have heard it said that it takes a village to raise a child; now it takes a community to help people heal! No doubt this recognition of the broadening healthcare enterprise may be part of the reason 59 percent of health providers find the new healthcare expectations challenging.

As a means to begin to understand how to peel back this onion, we have looked at what options healthcare organizations have in making change. A good place to start is to follow where we currently spend money and use resources and then decide where we need to reallocate funding for the new healthcare needs. So which investments might lead to a more applicable and responsive patient care program?

In every organization, there are seven types of investments available. In the outline below, we view each of the seven investments from the perspective of the current Fee-for-service focus to the Value-based focus. For each investment, we have imagined what change result might be desired. The first five capitals followed with asterisks are people or people-derived investments.Understanding the patients’ demographics as well as well as geography will be important in characterizing diverse subgroups in communities under consideration. Click To Tweet

HUMAN CAPITAL

  • Fee-for service: Patient is a number
  • Value-based: Patient is a person
  • Change desired: Consider a clinical team focused on what an ideal (people focused) value-based healthcare system could be

RELATIONSHIP CAPITAL

  • Fee-for service: Transactional: buyer (patient) and Seller (doctor)
  • Value-based: Familial: cooperative solutions, especially post-clinic
  • Change desired: Need to better engage patient in their community; build relationships, understand subgroups

SPIRITUAL CAPITAL

  • Fee-for service: Formal (culture, satisfaction, norms)
  • Value-based: Informal (family-like: culture, satisfaction, personal, relationships)
  • Change desired: Need a support network for patient: partner and co-fund with community groups for health and wellness; environmental integration

CUSTOMER CAPITAL

  • Fee-for service: Cordial formal service
  • Value-based: Collegial informal service; partnering together for health
  • Change desired: Need a new mindset to think health and wellness, holistically; see patient in their environment.

ORGANIZATIONAL CAPITAL

  • Fee-for service: Clinic and equipment support
  • Value-based: Invest to support patient beyond the clinic
  • Change desired: Need to imagine ways to connect/build wellness infrastructure to include community partners and ancillary health groups

PHYSICAL CAPITAL

  • Fee-for service: Focus on clinical needs and technology
  • Value-based: Invest in post-clinical and discharge needs
  • Change desired: Need to fund ongoing support, such as with out- patient wellness support to include wellness integration aides

FINANCIAL CAPITAL

  • Fee-for service: Revenue generation first
  • Value-based: Patient satisfaction followed by Revenue generations
  • Change desired: Need to fund ongoing support, such as with an out- patient ‘wellness’ aide

We have previously shown that an investment on either the task or people sides requires an investment on the opposite side to reap optimal ROI.  For example, an investment of new technology requires an investment in people to maximally exploit the technology. Or if one invests in people to do work, look for ways to invest in materials or technology to help people optimally perform. Since 71 percent (five of seven) of the investment opportunities are on people or people-derived assets, investment opportunities are mostly on the intangible, soft side.

Value-based healthcare investments are thus people-side ones. Understanding the patients’ demographics as well as well as geography will be important in characterizing diverse subgroups in communities under consideration. In order to plan for investments, a strategic approach is needed to tactically allocate resources. We believe that what underpins an effective tactical response is knowledge and understanding of situations and challenges on the ground. They directly affect why people get sick but also can expose the environmental factors that will slow their recovery and adversely affect ROI. Proactively responding to complex challenges at the core must fundamentally go beyond traditional 1+1=2 solutions and embrace a broader range of intangibles into the equation. Depending on the desired change result, one invests accordingly. With this mindset, we are certain that the ROI will be better than 1+1=2, and more like 1+1=7!

Gregory T. Reinecke, President, GeoDimensional Decision Group LLC has over three decades of experience delivering powerful value-driven solutions focused on ROI to healthcare, public safety and government agencies. GeoDD creates solutions that help clients manage risk and solve difficult problems, utilizing big data, geography, geospatial engineering, plus social science and demography to reveal new solution possibilities. For more on Gregory T. Reinecke, please visit www.geoddgroup.com.

Three Critical Ways Marketing Can Be Applied to Close More Sales

By Andy Slipher

Andy SlipherDo you operate in an organization where sales begins with a capital “S” and marketing with a lower case “m?” Sales-centric organizations often operate at such a high level in sales, they lack marketing prowess. Some are even altogether marketing-phobic, believing marketers exist to usurp the importance of salespeople or to replace them altogether. What happens, as a result, is that sales-centric organizations fail to integrate fundamental marketing principles into the sales process—principles that could actually improve their effectiveness. Although this phenomenon is not uncommon, it can leave customers with feelings that range from a lack of a clear understanding to downright confusion. Who does this kind of thinking benefit? Certainly not the customer.

The bottom line regarding marketing and its place in a sales-dependent organization is that it should thrive upon supporting sales, and not to supplanting it. It’s a simple fact that in certain environments where customer relationships must be continually nurtured and where product investment is high (business-to-business environments, for example), sales and good salespeople are of paramount importance. They help solve customer problems, bestow benefits, share product knowledge, behave proactively, and are simply there for customers when called upon.

At the same time, such organizations can have blind spots when it comes to using marketing to their collective advantage. They don’t see that marketing is there to extend and expand the sales opportunity. As a result, their salespeople aren’t fully prepared and equipped with what they need to do their best while enabling better outcomes for their customers.

Want to improve your odds of success in sales by using marketing to your advantage? Here are three ways:

1. Understand what marketing is and what it is not.

Marketing is not simply media. It’s not cheap or cheesy gimmicks designed to get the attention of your customer. Rather, proper marketing is anything you do in good faith to get your product or service into the hands of the customer. The breadth of marketing spans the entire buying cycle, and beyond. As such, effective marketing involves planning, investment and understanding of the needs of your customer. Think of it as everything else that wraps around your sales approach (in front of, during and beyond) to ensure that the customer has a positive and persuasive experience.Effective marketing involves planning, investment and understanding of the needs of your customer. Click To Tweet

For example, what if, by asking your business-to-business customer, you learn that he or she will have to champion your business and product to others within his or her organization? What do you do? It’s not feasible to be at every internal meeting. You might instead think in terms of clear, succinct messaging and professional materials to leave with your customer—ones that upon initial presentation by you, he or she could then represent to others with an adequate degree of confidence and knowledge. This is one possible marketing tool. But, it begins by discovering and understanding customer’s own mindset, needs and buying process.

2. Embrace the visual.

Effective salespeople are generally great at the verbal aspect of selling—persuading with words. However, virtually all customers today also rely upon and expect the visual. For example, who would have thought twenty years ago that we could manage a significant part of buying a new home by taking virtual home tours from anywhere? Yet this is the world we now live in, thanks to technology. The lesson is that people are now accustomed to buying only what they can see. It’s a studied fact that people generally remember only 20 percent of what they hear, but up to 50 percent of what they both hear and see. Therefore, the more you can help them visualize what they are buying (even if what you sell is a service), the greater your odds of success. How does this play into your sales process? How could you improve upon the visual beauty of what you sell? What objects, models, graphs, photos, maps, videos, tables or illustrations could you use to better persuade? What is both practical and effective? If you cannot yet answer these questions, start by asking your customers what they would want to see more of.

3. Integrate your process.

Have you identified and broken down your sales process? What is the first thing you do? Second, third and so on? How does your process both move the sale forward and serve the needs of the customer? These are wider questions beyond, “How do I get more chances in front the customer?” Yet, by asking such questions, you have the opportunity to integrate a wider range of tactics into your sales process that work toward a common goal. For example, rather than focusing on getting a sales call first, what about an approach that begins with having a wider conversation with would-be customers about their needs and challenges? How would you ask such questions? Would you engage with them around a common issue through social media? Would you mail them an old-school letter? Would you offer a free lunch-and-learn session? Or would you make a gratis overture to solve a relevant problem in order to build even more goodwill and trust? This opening up of the sale to a larger process engages a marketing mindset. It integrates your everyday sales tools with a broader set of options that work together for better outcomes.

Sales and marketing shouldn’t be thought of as mutually exclusive. After all, they serve a common goal. Even if you are deep in a sales-centric organization, you can still integrate strategic marketing thinking and tactics into your own approach to improve your chances for success, while delighting more of your customers in the process.

Andy Slipher is founder of Slipher Marketing, a consultancy where strategy comes first, followed by tangible marketing results. He is an accomplished strategist, interim CMO, speaker and writer on marketing strategy. He is marketing lecturer for SMU’s accredited Bank Operations Institute for professional bankers, and for the Independent Bankers Association of Texas (IBAT). Andy is the author of The Big How: Where Strategy Meets Success. For more information, visit TheBigHow.com.