Categories
Entrepreneurs

Can You Only Market to People Like Yourself?

Article Contributed by Lynda-Ross Vega

As internet marketers, we draw people to our offerings by shining a spotlight on ourselves, our personality and our unique gifts and talents. The way we do this is by utilizing our “Spotlight Style.”

Much of what we sell is information – products and services based on what we know, and that we think will be of value to others. Our products and services carry a heavy stamp of our own distinctive personality and they ‘Spotlight’ who we are.

Each person’s Spotlight Style is unique to his skills, talents and life experience, but there are high level communalities that can be grouped together. The three Spotlight Styles we have researched are Brand Evangelist, Practical Engineer, and Trusted Advisor. These titles are a shorthand way to understanding the way that people of each style approach marketing and promoting themselves, the types of marketing tools they are comfortable using, and the manner in which they interact with both prospects and clients.

Recently a business owner with whom I was working expressed how excited she was to discover that her natural Spotlight Style supported a whole different approach to marketing than she had been pursuing. She was excited because she wasn’t really comfortable with the tools she was using, but had chosen them because that was what everyone else was using. She saw immediately that the tools highlighted for her style fit her to a tee! She did have one big concern. She was afraid that as she approached marketing in a new and different style, she would lose some of her current clients because they had bought the ‘old’ her. Her concern was based on the belief that she could only attract people who shared her Spotlight Style. She worried that many of her current clients would leave because their style would no longer match her own.

I have run into this concern before- that you can only attract and market to people like yourself.  Most often, people initially confuse style with content. In the case of our program participant, she thought that as she chose marketing methods that more accurately reflected her Spotlight Style, what she was marketing would also have to shift and that this shift would cause her to lose clients who liked the ‘old’ products and services. Here’s the great news: content will have a tendency to reflect your style, but awareness of each of the styles will allow you to create copy, products, and services designed to appeal to people with any of the three styles.

Discovering and claiming your Spotlight Style will not limit your appeal to your current or prospective clients. Quite the opposite; as you become more and more comfortable with the natural marketing tools associated with your style, both current and prospective clients will experience and respond to the inner confidence your offerings and your marketing efforts reflect. Additionally, your comfort with yourself and your own talents will lead to a level of solid integrity that will appeal to those who can benefit from what you have to offer independent of your or their style.

So, don’t let anyone tell you that you can only market to people like yourself. Discover your own Spotlight Style and let its brilliance attract all who can benefit from what you have to offer!

About the Author:

Lynda-Ross Vega: A partner at Vega Behavioral Consulting, Ltd., Lynda-Ross specializes in helping entrepreneurs and coaches build dynamite teams and systems that WORK. She is co-creator of Perceptual Style Theory, a revolutionary psychological assessment system that teaches people how to unleash their deepest potentials for success. For free information on how to succeed as an entrepreneur or coach, create a thriving business and build your bottom line doing more of what you love, visit www.ACIforCoaches.com and www.ACIforEntrepreneurs.com.

Categories
Business Ideas

Are You Using Marketing to Sabotage Your Business Success? 3 Danger Signs

Here’s the sneaky thing about mental blocks — they usually make their presence known through sabotage (your business, your relationships, your life, etc.) rather than let you know through more civilized means.

Wouldn’t it be so much nicer if they simply tapped you on the shoulder and said “hey — this is an issue for you, maybe you should take care of it?”

Alas, they prefer to communicate with you by wreaking havoc in your business and your life.

And, when it comes to your business, one of their favorite ways of messing with you is through marketing.

So, how do you know if this is something you’re doing? Below are the 3 Danger Signs:

1. You know what you should be doing to market your business (for instance, getting an ezine out on a regular basis). But somehow it NEVER gets done. Or it gets done very sporadically — like once every 6 months. You say things like “I really need to get this done” and you never do.

Now this could mean one of two things — it could mean this is the wrong marketing strategy for you, your business, your ideal clients, etc. Or it could be a form a self-sabotage, where you find you just “never” have the time to get those things done that will grow your business.

How do you know the difference? Look for a pattern. Do you find yourself often starting a marketing tactic only to abandon it? Or is it just THIS particular one?

Obviously if it’s a pattern, then you’re definitely dealing with a mindset block. If it’s an isolated occurrence then there could be something else going on.

2. You’re always looking for the silver bullet. You constantly are trying, and abandoning, new marketing strategies. Maybe you are constantly buying the newest “blueprint” or “formula.” Or maybe you’re one of those who ask every marketing person in a ten-foot radius what you should be doing, and then you change your entire marketing strategy based on that person’s advice. (Of course, the moment it looks like it’s not working or you meet a bright shinny new marketing person, you switch strategies again.)

Look I know how tough it is out there. And it’s especially scary when even though you’re doing everything you can to market your business and you follow every single step, you still don’t see results (or at least not the results you’re looking for).

But the problem is if you keep switching marketing strategies you’re never going to gain any momentum. And momentum is a BIG part of getting results.

(Note — another way this Deadly Sign manifests itself is if you’re constantly switching your branding or what you stand for. If you find you need to keep reinventing yourself you definitely have a block somewhere.)

3. You give up on your marketing. This looks like not finishing a marketing campaign, not sending out enough emails to do a launch correctly, racing through a launch, or just throwing in the towel.

Look, part of growing a business means you have ups and downs. Some marketing campaigns are more successful than you anticipate and some are less. Some are utter failures. Some are out-of-the-park home runs.

That’s the way it is.

If you let a failure or two derail you, you’re never going to make it in business. And, if you allow your failures or perceived failures keep you from finishing a marketing campaign, that’s a problem. (Especially since you could be pleasantly surprised by sending out “one more email.”)

So what should you do if you find yourself plagued by any of these self-sabotage marketing mistakes?

Realize what the problem is. A block. And get help with it.

Now, this isn’t to say you don’t need help with your marketing. You may very well need to hire someone to help you put together and implement a strategy. But, unless you’re willing to be committed to that strategy, see it through and not be changing direction the moment something happens, it won’t help you grow your business.

Categories
How-To Guides

How to Appeal to People with a Different Spotlight Style

Article Contributed by Lynda-Ross Vega

Your Spotlight Style describes the way in which you draw attention to the gifts and talents you have, the services and products you offer, and your unique flair.  Embracing your Spotlight Style is the key to applying your authentic voice in all of your marketing activities.  But does that mean you will only attract people who have the same Spotlight Style that you do?  Absolutely not!  The big question is do you want to?

You attract each of the three Spotlight Styles differently.  People who share the same Spotlight Style you do (they probably are unaware of it) will be attracted to you because they feel an almost instant rapport with your marketing voice and because they know intuitively that they will be able to apply/emulate what you offer them.  People who do not share your Spotlight Style will be drawn to you because they sense that your product or service “fills the gap” for them and because your marketing style appeals to them intuitively – addressing what they feel may be missing in themselves.

So, if your answer is that you want to attract people who represent all three Spotlight Styles (or perhaps just your style and one other) you need to:

1.    Make sure that all the materials you present to the public authentically reflect your Spotlight Style. Do not try to emulate another style to appeal to that style. It will come across false even if they don’t know why.

2.    Learn as much as you can about each of the other two Spotlight Styles:

a.    What kind of language do they use?

b.    What things do they overlook because of their Spotlight Style?

3.    Create copy that incorporates language that appeals to each of the Spotlight Styles and addresses frequently “overlooked” aspects for each style. Say what you mean in your style, then rephrase in the language of another.

4.    Spotlight yourself in places where people from all three Spotlight Styles will see you.

Making your products, services, and your unique gifts and talents available to people with different Spotlight Styles takes awareness of the key differences between styles, but the rewards are well worth the effort.

About the Author:

Lynda-Ross Vega: A partner at Vega Behavioral Consulting, Ltd., Lynda-Ross specializes in helping entrepreneurs and coaches build dynamite teams and systems that WORK. She is co-creator of Perceptual Style Theory, a revolutionary psychological assessment system that teaches people how to unleash their deepest potentials for success. For free information on how to succeed as an entrepreneur or coach, create a thriving business and build your bottom line doing more of what you love, visit www.ACIforCoaches.com and www.ACIforEntrepreneurs.com.

Categories
Sales & Marketing

Discounting to Create Cash Flow? Be Careful.

Article Contributed by Mark Hunter

Recently I spoke at a large conference on the subject of how to maintain your price and avoid discounting.  After the presentation, a businessperson approached me and asked what my strategy would be if his company needed to discount price to create cash flow.  This is not an easy question to answer.

Sure, I could easily throw out a response that implies that the reason a company has to discount is because it hasn’t done a good enough job of building its pipeline or hasn’t invested enough in the right type of marketing.   I know, though, that this isn’t the answer a person needs when faced with the issue of cash flow.

Cash flow is a huge issue to a lot of companies, large and small.  I would be lying if I didn’t admit that even in my own company we’ve experienced periods of tight cash flow.

The question we’re answering is if cutting a price to get a deal is a smart way to create cash flow.

Here is my answer:

Before making any decision about cutting a price to create cash flow, think about how you can maintain the price point and offer the customer more value.  Cash is king. I first heard Donald Trump speak that phrase and I’ve never forgotten those three words.

Offer your customer more of something. Anytime you can close the sale at the original price, you’re going to be better off.  Just be careful in what your additional offering is.

The last thing you want to do is offer the customer something more that ultimately winds up costing you more in cash long-term.  Notice I said cash.  I’ll give up some percent margin before I’ll give up cash.

Before you look at offering the customer more, you have to ask yourself if you’ve truly done a thorough job of actually selling.  Many times I’ve found salespeople will cut their price only out of a false belief that that is what is needed to close the sale. You might say the salesperson or business owner is panicking over what they believe, not what the customer believes.

Before you consider discounting your price, make sure that the customer fully understands the value proposition you offer and that you fully understand the customer’s needs and wants. Too many times salespeople will flinch and offer a reduced price too early in the selling process.

A thorough selling process means you need to ask enough questions and follow-up questions – and listen – until you are certain you understand what the customer wants.  The more you focus on the fact that what you have to offer is of value to your customer, the less appealing discounting becomes as the only way to close a sale.

Is Discounting Ever Needed?

If what you’re selling is bought solely in an auction type of environment and cutting your price is the only way you know you can get the deal, then yes, it does become an option you can use.

Regardless of the circumstances that are compelling you to discount, you still must be very wise in your approach.  You have to remember that if you cut your price for one customer, you will potentially send signals to other customers and prospects.

If all of your current and potential customers are going to find out, then all you’ve done is move yourself into a permanent state of always having an issue with cash flow.   The reason is simple — you’ll now be selling everything at a lower price.

What Will Your Discount do to Your Competitors?

Just as you need to be conscientious of what messages you are sending to customers and future customers, you also must be aware of what your discount says to your competitors.  How will they respond?  If they respond by cutting their prices to match yours, then congratulations – you’ve now entered what I call “pricing death spiral.”

Pricing death spiral is when one company cuts their price and everyone follows.  I have one response – stupid!  “Pricing death spiral” is often broken only when one company ultimately goes out of business or leaves the marketplace to focus on something else.

If you do need to cut your price to gain a sale to create cash flow, then it’s imperative you do it in a way that will not send signals to other customers or competitors. Make sure the customer is isolated enough and the customer is not going to become a long-term customer.

One last point I would make about discounting is that you may have to clarify to your customer that the discount is a “one time” discount. The last thing you want to do is discount a price for a customer on one sale to create cash flow, only to have them expect the same reduced price for years to come.

To further protect yourself from being in the position of having to discount, be sure to build a marketing strategy that allows you to sell to different markets or industries. This way, even if you have to discount, you can do so with one set of customers as opposed to all your customers across the board.

Only you can decide if discounting your price is a good way or bad way to create cash flow. No matter what, make sure you think it through.

About the Author:

Mark Hunter, “The Sales Hunter,” is a sales expert who speaks to thousands each year on how to increase their sales profitability.  For more information, to receive a free weekly email sales tip, or to read his Sales Motivation Blog, visit www.TheSalesHunter.com. You can also follow him on www.Facebook.com/TheSalesHunter, www.Twitter.com/TheSalesHunter and www.LinkedIn.com/in/MarkHunter. Reprinting of this article is welcomed as long as the following is included:   Mark Hunter, “The Sales Hunter,” www.TheSalesHunter.com, © 2011

Categories
Planning & Management

Lessons from a Shopping Mall

Article Contributed by Jeff Beals

On a cloudless summer day in suburban Chicago, a woman put her two children in the car and drove to the shopping mall. There she met one of her best girlfriends, who also came to the mall with her kids.

The group of two moms and four kids spent the whole day at the mall, having lunch in the cafeteria and then leisurely strolling, shopping and people watching. An afternoon movie in the attached theatre and malted milkshakes at the ice cream parlor finished off the mall excursion before the women drove back to their respective homes to prepare dinner.

These two women absolutely loved the mall. In their minds, it was one of the greatest places on Earth. After all, the mall was exciting, full of the latest and greatest retailers, a state-of-the-art movie theatre and plenty of free parking. Even better, the climate controlled indoor environment made it possible for a whole day of shopping and entertainment without being subjected to Chicago’s often extreme weather. No doubt about it; the mall was THE place to see and be seen.

That was 1968. It was the heyday of the enclosed regional shopping mall in America.

Here’s how this story might read in 2011:

A well-educated, working mom is able to duck out of her office for a couple hours at lunch to catch up on some long-deferred errands. With the kids in school, it’s her chance to actually get things done. That’s critical, because evenings and weekends are filled with dance lessons, soccer practice and select-league baseball games that often require the family to spend weekends at out-of-town tournaments.

Her challenge is to fit a whole day’s slate of errands into two hours. She drives her minivan to the power center located along the freeway. There she takes advantage of a 30%-off discount card she received in the mail from Kohl’s department store before stopping by the Wal-Mart Super Center to stock up on non-perishable consumables mostly manufactured in China. She takes care of mailing packages and dropping off dry cleaning at her friendly mega grocery store’s customer service counter.

Next, she speeds over to the lifestyle center, an outdoor mall with heavy landscaping, upscale national-chain retailers and a nice-but-fake-looking façade. There she purchases high-end cosmetics (the all-natural kind that are never tested on animals) and a dress for the coming weekend’s formal dinner. Before jumping in the minivan, she grabs a double latte, a little reward for getting so much done so quickly. She must head back to the office and cram in her work before picking up the kids from their after-school program.

Indeed, times have changed.

As the lives of retail customers have evolved, the retailers and the shopping mall owners have had to change in order to keep up. Today’s harried shopper simply doesn’t have the time to spend the whole day at the mall. Speed and convenience are critically important. Shoppers still want luxury and entertainment, but they have to be easily accessible and located close to homes or offices.

Consequently, we now see many of those old malls, the ones that were gleaming and glorious in 1968, being torn down and replaced with big-box retailers, open-air lifestyle centers and mixed-use “walkable” villages.

A perfect example is Randhurst Mall built in 1962 in the Chicago suburb of Mt. Prospect, Ill. According to Midwest Real Estate News, the once-popular Randhurst is now desolate, so crews are demolishing most of it to make way for a mixed-use center that will be home to offices, a hotel and a bunch of entertainment businesses in addition to an updated mix of retailers.

Retailers and retail landlords either keep up with the trends or they die.

Well, retailers certainly aren’t alone, are they? Your business needs to adapt too.

Keep in mind that, as a person, you are essentially a business. You are a business of one, a business unto yourself. In a lot of ways, you (as a business of one) have much in common with retailers. Like a retailer, you are selling a product (yourself). Like a retailer, you want to portray your product in the most desirable way while making it extremely convenient to your customers. Like a retailer, you must adapt to the changing needs and preferences of the public.

Regardless of what you do for a living, you must place your clients on a pedestal. Their needs and wants are not only paramount, they’re moving targets.

Are you doing whatever it takes to keep up? Are you willing to tear down a 1960’s-era mall and replace it with one of today’s hot new shopping developments?  Stay ahead of the trend or risk being squashed by it!

About the Author:

Jeff Beals is an award-winning author, who helps professionals do more business and have a greater impact on the world through effective sales, marketing and personal branding techniques. As a professional speaker, he delivers energetic and humorous keynote speeches and workshops to audiences worldwide. You can learn more and follow his “Business Motivation Blog” at JeffBeals.com.