10 Clever Strategies to Close the Customers You Actually WANT to Work With
In the wild world of sales, it's not just about closing deals—it's about closing deals with the right customers. You know, the kind of customers that make your business grow and make your professional life a whole lot more satisfying. So, buckle up and get ready to dive into ten brilliantly clever strategies that will help you attract and close those dream customers who align perfectly with your vision and values.
1. Unlock the Secrets of Your Ideal Customer Profile (ICP)
Before you go on a wild goose chase for customers, you need to define who your ideal customers actually are. Your Ideal Customer Profile (ICP) is like creating a detailed character sketch of the perfect customer who would benefit the most from your amazing product or service and bring you heaps of value.
Steps to Uncover Your ICP
- Play Detective: Analyze your current customer base and look for the characteristics of your most successful relationships. Take a close look at their demographics, purchasing behaviors, and overall engagement with your product or service. Pay special attention to those loyal customers who have stuck around and given you stellar feedback.
- Find the Common Denominators: Identify the common traits among your top customers—demographics, behaviors, needs, and everything in between. Categorize them into groups like industry, company size, location, and decision-making process. These common traits will help you pinpoint the types of customers who are most likely to thrive with what you have to offer.
- Create Your Dream Customer Persona: Develop detailed personas that represent your ideal customers. Dive deep into their pain points, goals, and buying behaviors. Make these personas as vivid as possible, covering everything from job roles to daily challenges to key motivations. Use these personas as your North Star, guiding your marketing and sales strategies to attract these fantastic customers.
Tools for Unveiling Your ICP
- Sneaky Surveys and Feedback: Get your current customers to spill the beans by conducting surveys and gathering feedback. Their direct input is like gold—providing you with priceless insights into what your ideal customers value most.
- Sherlock-Level Data Analytics: Utilize analytics tools to dive into your customer data. Look for patterns and trends that reveal the characteristics of your superstar customers. This data-driven approach ensures that your ICP is based on cold, hard facts rather than guesswork.
- Spy on Your Competitors: Take a peek at your competitors' customer base to identify gaps and opportunities. Understanding who they're targeting can help you refine your own ICP and discover untapped market segments. It's like gaining insider intel for your strategic advantage.
2. Sprinkle Your Messaging with Unicorn Stardust
Once you've cracked the code of your ICP, it's time to sprinkle some magic on your messaging. Your marketing and sales communications need to speak directly to your dream customers' needs, pain points, and aspirations.
The Art of Crafting the Perfect Message
- Unleash Your Value Proposition: Clearly articulate the unique value your product or service offers. Show off what sets you apart from the competition and why your solution is the absolute best fit for your ICP. Make sure your value proposition is concise, compelling, and consistently communicated across all channels.
- Address Their Pain Points: Dive headfirst into the specific challenges your ICP faces. Use language that empathizes with their struggles and demonstrates your deep understanding of their situation. By speaking directly to their pain points, you position your product or service as the ideal problem-solver.
- Shower Them with Benefits: Highlight how your solution brings unique benefits to the table. Focus on the tangible outcomes they can expect—increased efficiency, cost savings, improved performance, you name it. Bring these benefits to life with real-life examples and captivating case studies.
Channels for Maximum Messaging Impact
- Websites that Wow: Ensure that your website content is tailor-made for your ICP. Create targeted landing pages, insightful blogs, and product descriptions that speak directly to their needs and interests. A well-optimized website is like a magnet, attracting and converting ideal customers left and right.
- Email Campaigns that Rock: Develop email campaigns that deliver personalized, relevant content straight to your ICP's inbox. Use segmentation wizardry to ensure that each email addresses specific pain points and offers solutions customized to their needs. Your emails are like personalized love letters, enticing your dream customers to take action.
- Social Media Sorcery: Unleash the power of social media platforms to engage with your ICP. Share content that resonates with their interests and encourages interaction. Social media is the perfect playground for gathering feedback and priceless insights from your target audience.
3. Whip Up Irresistible Content That Casts a Spell
Content marketing is like a magic potion that draws your ideal customers closer. By creating and distributing valuable, relevant content, you'll attract, engage, and convert those dream prospects who fit your ICP like a glove.
Majestic Content Strategies
- Blog Posts and Enchanting Articles: Write about topics that make your ICP's heart skip a beat. Dive into industry trends, create how-to guides, and share thought-provoking pieces. Consistently publishing high-quality content establishes you as a wise and trusted authority, keeping your audience captivated.
- Spellbinding Case Studies: Showcase success stories that show off your value. Detailed case studies demonstrate the tangible benefits your product or service has delivered to customers just like your ICP. These stories have the power to sway potential customers by providing real proof of your effectiveness.
- Mystic Whitepapers and Enchanting E-books: Provide in-depth insights that solidify your expertise. These pieces of long-form content can delve into complex topics and offer valuable information that helps your ICP make well-informed decisions. Offering these resources in exchange for contact information can also help you build a magical list of qualified leads.
Channels to Spread Your Enchanting Content
- SEO Sorcery: Optimize your content with wizard-level search engine optimization. Use relevant keywords, meta descriptions, and backlinks to boost your search engine rankings. A powerful SEO strategy can whisk your content to the top of search results, attracting those perfect customers like moths to a flame.
- Social Media Spells: Spread your content across social media platforms to reach a wider audience. Tailor your posts to each platform's unique audience and engagement style. Use captivating visuals, bewitching hashtags, and interactive elements to increase visibility and engagement.
- Email Marketing Magic: Use email newsletters to distribute your delightful content directly to your ICP. Segment your email list to ensure that each recipient receives content that matches their interests and needs. Regularly sharing valuable content keeps you in their minds and hearts.
4. Let Social Proof Work Its Magic
There's nothing more persuasive than social proof. When your prospects see that others like them have achieved success with your product or service, they'll be itching to jump on board the magical train to customerhood.
Unleashing the Power of Social Proof
- Glorious Customer Reviews: Make some noise with positive reviews on platforms like Google and Yelp. Encourage satisfied customers to leave reviews by making the process a breeze and offering rewards. Highlight these sparkling reviews on your website and marketing materials to build trust with potential customers.
- Captivating Testimonials: Gather personal endorsements from your happy customers. Use surveys, interviews, or direct requests to collect testimonials that provide credible and relatable proof of your value. These endorsements are like sparks of magic that ignite trust and propel your prospects toward a favorable decision.
- Bewitching Case Studies: Dive deep into how your solution helped specific customers. Craft detailed stories that showcase the challenges faced, the solutions provided, and the measurable outcomes achieved. Case studies wield great power, proving your expertise and the real-world impact of your offerings.
Gathering and Displaying Social Proof
- Customer Feedback Wizardry: Put programs in place to regularly gather feedback from your customers. Use surveys, follow-up calls, and feedback forms to collect testimonials and reviews. Keeping your social proof fresh and up-to-date ensures its relevance and impact.
- Showmanship on Multiple Platforms: Display your social proof across your website, social media, and marketing materials. Use visual elements like videos, images, and captivating infographics to make your testimonials and case studies even more irresistible.
- Third-Party Wizardry: Make use of endorsements from industry experts, influencers, and reputable organizations. These third-party endorsements add an extra layer of credibility and trustworthiness to your social proof, like a magical stamp of approval.
5. Embrace the Art of Soft and Nurturing Sales
A soft and nurturing sales process focuses on building relationships rather than forcing a hard sell. This approach works wonders when it comes to attracting and closing the right customers who genuinely appreciate what you bring to the table.
Master the Art of Nurturing Leads
- Enlighten and Educate: Provide valuable information that helps prospects make informed decisions. Use webinars, workshops, and educational content to enlighten your audience about your product or service. An informed prospect is more likely to recognize and appreciate the value you offer, leading to confident purchasing decisions.
- Listen Like a Pro: Actively listen to understand your prospects' needs and concerns. During sales interactions, prioritize listening over talking. Use open-ended questions to encourage prospects to share their challenges and goals. Showing genuine interest in their perspective helps you tailor your approach to meet their unique needs.
- Build Bridges of Trust: Establish trust through transparency and authenticity. Be honest about what your product or service can and can't do. Share real-life examples and case studies to back up your claims. Building trust takes time, but it's absolutely essential for closing deals with the right customers.
Techniques for Cultivating Magical Relationships
- Personalized Follow-Ups: Engage your prospects with personalized follow-ups that show you're invested in their success. Customize your communications to address their specific needs and interests. Regular check-ins demonstrate that you value their business and are committed to helping them achieve their goals.
- Value-Driven Interactions: Make sure every interaction brings value to the prospect. Whether it's through sharing relevant resources, offering expert advice, or solving their problems, ensure that your communications are always relevant and beneficial. Value-driven interactions create goodwill and position you as a trusted advisor.
- Long-Term Love Connections: Focus on building long-term relationships rather than chasing short-term sales. Stay connected with prospects even if they're not ready to buy right away. Nurturing these relationships can lead to future opportunities and referrals as the magic of connection works its wonders.
6. Unleash Your Inner Growth Hacker
Growth hacking is all about using innovative and cost-effective strategies to acquire and retain customers. These spellbinding techniques will help you attract those perfect customers without breaking the bank.
Enchanting Growth Hacking Strategies
- Spark the Magic of Referrals: Encourage your existing customers to spread the word. Offer incentives like discounts, freebies, or exclusive access to motivate them to refer others to your business. A well-designed referral program turns satisfied customers into powerful brand advocates.
- Create Viral Spells: Craft shareable content that spreads like wildfire. This could be in the form of entertaining videos, interactive infographics, or mesmerizing social media posts. The goal is to create content that resonates with your audience and compels them to share it with their own networks.
- Master the Art of A/B Testing: Continuously test and optimize your marketing efforts. Use A/B testing to compare different versions of your campaigns and identify what works best. This data-driven approach ensures that you're always improving and maximizing the effectiveness of your marketing magic.
Channeling Your Inner Growth Hacker
- Harness the Power of Magical Tools: Make use of growth hacking tools and software to automate and optimize your strategies. Tools like CRM systems, email marketing platforms, and analytics software help you manage and measure your growth hacking efforts like a true sorcerer.
- Collaborate with Influential Allies: Partner with influencers and industry experts to amplify your reach. Influencers help you connect with a larger audience and build credibility through their endorsements. Choose influencers who align with your brand values and have a strong connection with your ICP.
- Obsess Over Customer Experience: Ensure that every touchpoint in the customer journey is optimized for a delightful experience. Happy customers are more likely to refer others and become repeat buyers. Regularly gather feedback and make improvements to enhance the magical experience.
7. Embrace the Magic of Permission-Based Sales
by Justin Lim (https://unsplash.com/@justinlim)
Permission-based sales is like a magical dance between you and your prospects. By obtaining their consent before engaging with them, you create a space for more meaningful interactions and higher conversion rates.
How to Work Your Magic with Permission-Based Sales
- Captivating Opt-In Forms: Use forms to capture your prospects' consent to receive communications from you. Make sure your opt-in forms are clear and concise, explaining exactly what they're signing up for. Offer something magical in return, like a free resource or exclusive content, to encourage sign-ups.
- Respect Their Communication Preferences: Honor your prospects' preferences when it comes to how often and through which channels they want to hear from you. Respecting their preferences shows that you value their time and creates a foundation of trust.
- Deliver a Dash of Value: Ensure that every interaction you have with your prospects brings value to their lives. Whether it's through educational content, personalized recommendations, or exclusive offers, make sure your communications are always relevant and beneficial. Consistently providing value keeps your prospects engaged and interested.
The Magical Benefits of Permission-Based Sales
- Spellbinding Engagement Rates: Prospects who have given consent are more likely to engage with your communications. They've shown interest in your offerings and are more open to receiving your messages.
- Building Enchanting Relationships: With permission-based sales, you focus on building relationships rather than blindly chasing quick sales. Keeping in touch with prospects, even if they're not ready to buy right away, cultivates a sense of trust and allows for future opportunities and referrals to magically appear.
Now that you're armed with these ten clever strategies, go forth and conquer the customers you genuinely WANT to work with. May your sales be smooth, your relationships be magical, and your business soar to new heights. Best of luck, intrepid salesperson! ✨🔮✨
Six Secrets to Close More Sales
Closing more sales is always at the top of the minds of business owners, entrepreneurs, and salespeople. But most are asking themselves, “Great…how do I do that?” Here is a quick hit list of the top 6 things that can get you to closing more sales, faster:
- Set a good agenda
- Ask Deep Questions
- Don’t be Afraid to Ask for Commitment
- It’s OK to talk about Money
- Get to the Decision Makers
- Present ONLY to what they care about
Set a good agenda
One of the most important things you can do when you're trying to be productive is to set a good agenda. This may seem like a no-brainer, but it's amazing how many people try to go through a meeting without any sort of plan. A good agenda will give you even footing with your prospect and let them know where the conversation will go.
- Permission - ask if it’s ok to set that agenda
- Time - confirm the time frame is still good for both parties
- Purpose - state the understood purpose of the meeting
- My expectations - what do you want to get and is it ok for you to ask tough questions about money or other things?
- Their expectations - let them tell you what they need
- Outcome - There can be only two outcomes for a meeting - yes or no. To accept anything less will give you a pipeline of ‘hope’ and that doesn’t do anyone any good. Here’s how the outcome statement could sound ‘I see
Ask Deep Questions
In a world that is increasingly driven by superficiality and shallow interactions, it can be refreshing to ask deep questions. If you're not sure what I mean by "deep questions," they are basically questions that go beyond the surface level of conversation. They are personal and emotional, and they can often lead to compelling reasons for why someone believes or feels the way they do. Asking deep questions can help to create a more meaningful connection with someone, and it can also help you to better understand their worldview. So next time you're feeling stuck in small talk, try asking a deep question instead. You might be surprised at how much you learn about the other person - and about yourself.
Don’t be Afraid to Ask for Commitment
Sure, commitment can be scary. It's a big decision! But that doesn't mean you shouldn't ask for it. In fact, sometimes the best way to get what you want is to just ask for it. After all, what is the worst that could happen? They could say no. And then you would be in the same position you are now, but with slightly more information. So go ahead and ask. It might just be the best thing you do all day.
It’s OK to talk about Money
Money is often seen as a taboo topic, something that we shouldn't talk about in polite company. But why is that? Money is a huge part of our lives, and it affects everything from our daily budget to our long-term access to financial opportunities. If we can't talk about money, we can't learn how to budget, save, invest, or even just have a healthy relationship with money. So let's break the silence and start talking about money. It's OK to talk about money. In fact, it's essential.
Get to the Decision Makers
When it comes to getting your point across, it's important to remember that not all decision-makers are created equal. In a large company, there may be dozens of people who have a say in the final decision, and each one of them is going to have their own opinion on what the best course of action is. That's why it's so important to make sure that your presentation is tailored to address the needs of each individual decision-maker. By taking the time to understand the concerns of each decision-maker, you'll be in a much better position to get your point across and make the sale.
Present ONLY to what they care about
The next time you're preparing a presentation, think carefully about your audience and what they care about. You may be tempted to include everything that you know on the topic, but resist the urge! The key is to focus on the information that is most relevant to your audience's needs and interests. Otherwise, you run the risk of losing their attention. After all, there's nothing worse than delivering a presentation that feels like a waste of time. So take the time to tailor your presentation to your audience, and you'll be sure to engage them from start to finish.
If you are looking to increase your sales closings without (yuck) becoming a ‘salesy-person’ check out @revenue’s Pay What You Can Sales Coaching Program! It's live coaching, with a guaranteed result - and it’s time that you start to WIN! Click here to learn more...don't click if you already have too many sales. In the meantime, here's a quick recap of the main points:
1. Set a good agenda
2. Ask Deep Questions
3. Don't be afraid to ask for a commitment
4. It's ok to talk about money
5. Get to the decision-makers
6. Present ONLY to what they care about
We hope you found this post helpful and that you'll put these tips into practice the next time you're closing a deal. Good luck!
How Narrowing Your Target Audience Will Expand Your Market Share
How Narrowing Your Target Audience Will Expand Your Market Share
When you started your business, your first step was obviously to develop your product or service. Right behind that, you likely started to identify who your target customer is: their age, what they look like, where they live, what they do for a living, their income…. When you get to the bottom of this target buyer, they probably pretty closely resemble you and your friends, right?
This isn’t uncommon. Often, a buyer persona or a ground-level look at a desired target audience will be pretty flat and lack specificity. Certainly, recognizing basic demographics is helpful, but to enhance your processes and results, you have to get more specific. Your first shot at your target consumer is probably a superficial look at a generalized individual — a look at someone who’s everyone and no one at the same time — and you’ll have a really hard time getting anywhere with this person.
So once you’ve landed on “Male, 30-45, married, middle class, interests include DIY projects, lawn care, and pick-up hockey games,” where do you go from there?
To properly understand your core demographic, you need to create a “Client Avatar”. In creating this avatar, you’ll define your audience as a series of single individual “characters,” who most closely resemble both your most active customers as well as those you wish to attract. The Client Avatar is made up of various pieces of demographic information, and you want to be sure you are as clear and precise as possible. Use these four identifiers to focus in on who you’re looking for.
1. Age
Thinking outside the box when it comes to your buyers’ age ranges can bring you more creative ideas. Consider the Pedialyte phenomenon: a drink that was made for dehydration in young children is often used by adults in the same way sports drinks are. In turn, Pedialyte updated their marketing to speak directly to hungover adults, and they developed new products (think: branded t-shirts and powder packets to mix in with water) to serve this new audience. Consider how you can skip the highly saturated 18-34 market and offer your product or service to a different demographic and the results it could yield. Research your competitors and look into the demographics of people who are seeking products and services similar to yours. This will help you narrow down the “why” of your target age range and the products they look for, and help you speak more intentionally to that audience.
2. Cultural Identifiers
Once you have a solid understanding of your age ranges and what their interests are, you need to take a step back and review additional cultural identifiers that narrow down the picture of an Avatar further. A product can appeal to a range of cultures for different reasons. Consider how your product or service meets the needs of a variety of communities — and how your communication speaks to people, too. Bringing cultural awareness and diversity into your messaging, product, and service will enhance both your efficacy as a brand and your customer experience.
3. Income and Willingness To Purchase
Income is a piece of your target audience puzzle, but you can leverage it even more strategically when you consider a buyer’s willingness to purchase. While you certainly want to do some research on the income levels of the audience you have formed thus far, there are more factors associated with willingness to purchase than their level of income. Motivation is a big factor in making decisions for purchase. If your product truly answers a real need, there will be more reason for your audience to buy. A person with income outside your target may still look into your service if it’s a high-demand product for them. For example, a serious runner may purchase an expensive running shoe that may be outside their means if it affords them the comfort and support they need for their runs. This can be true in a variety of industries; willingness to purchase can outweigh disposable income.
4. What They Actually Like
What does your audience actually like? Are their consumer decisions a result of their actual interests, or are they just things they feel like they’re supposed to like or consume? Invest in actually identifying your target market’s interests and wants. These can make a huge difference in how you choose to communicate. Dive deeper into what other brands they purchase, what media outlets they use, and where they shop. Learning these behaviors will help you gain a more well-rounded picture of who your potential buyers are.
When brands take risks and expand their perception of who their real audiences are, they can find new ways to engage with those consumers and make sure that none of their potential leads are falling through the cracks. This more detailed personal discovery can lead to more intentional messaging, wider outreach, and more successful results, because when you really look at who your audience is, you’ll probably find the missing piece your marketing needs.
An earlier version of this article was previously published on Forbes in August, 2018.
What the Dame of Influence Award Means to Me
What the Dame of Influence Award Means to Me
Sometimes I feel like the name of my game is ‘just keep walking’. Many of you know my story already, and like many entrepreneurial journeys, it was riddled with ups and downs. I happened to get handed an extra dose of death and loss and things most people don’t have to experience at this phase of life. Because the people that I loved and lost were also critical parts of my company I had to pick up the pieces while it felt like the world was watching.
You don’t build the muscles of resiliency because you want to. You do it because you have to. You do it because there is something bigger than the pain or the fear that you have to get done. You change yourself so that you can change the world around you and let me be the first to say that changing how you see yourself or how you respond to life SUCKS. It’s hard because it has life-changing value and they don’t hand out awards for ‘trying super hard’. and then I learned that I just don’t back down…period.
I am proud of how far @revenue has come in the last five years, and of the amazing things in our future and I am continuously humbled by the people that show up for my vision. This little family business has survived and grown so that we can serve all of those other ‘little businesses’ grow.
For all these reasons and so many more, I feel unbelievably honored to have been recognized as a 2022 Dame of Influence for Chicago.
The Dames stand for something so close to my heart: the ability to do great things and be a great person. They value community contribution and mentorship, and they’re here to break down the barriers that stop 98% of women-owned businesses from reaching the million-dollar mark.
@revenue has shared this mission of supporting diverse people and their businesses and goals, hoping to make a reality of the amazing empowerment from the late, great RBG: Women should be in all places where decisions are made. The Dames are committed to this, @revenue is committed to this, and I am committed to this, and I am so humbled to be recognized for this work we have tirelessly taken on over the past five years.
I am so thankful for this award and everyone who has made our achievement possible, and I can’t wait for all we can keep accomplishing together.
What will 2022 Look Like?
What will 2022 Look Like?
Business owners have spent the past two years navigating a pandemic, supply shortages, employee shortages and cash flow issues. Many have survived by pivoting their service offerings, or pivoting again to meet more current demands. When it comes to running a small business, this is just part of the game, but if we are being honest, 2020 and 2021 have caused some ulcers.
As we round the corner of Q4, we start to look at what the new year will look like - and many are afraid of what it might bring. While we are all hoping for some sense of previously known normalcy, it may not be in the cards.
Trends predicted to continue well into next year and beyond include:
- Hybrid events and Zoom meetings are just part of the way we meet with each other and communicate now.
- Work From Home/Hybrid options- More companies are offering more WFH options and will need to find more ways to engage virtually with their workforce.
- Advances in AI and virtual technology will help companies combat shortages in labor, and help us all find new ways to escape.
- Distance learning is part of our Educational system now. Many parents are finding better solutions for their children than the typical school day, and this changes their work/life balance dramatically.
Small businesses have felt these pivots and changes more than the big guys, and that’s not about to change. Studies show that small businesses need to adapt faster, and embrace more technology and have a solid plan to move forward into 2022.
The number one thing all this change has impacted? Revenue. Since the pandemic began, revenues have been falling, and business owners are cutting budgets and salaries to make up the difference. As we enter 2022, there is a better way.
Now, as things begin to stabilize, business owners can look at the coming year as an opportunity to make up what missed revenue. How? By being intentional.
Intentional about what?
- Goal Setting - I know, it’s been hard to set goals for a while, but now is the time to sit down, dig in and look at where we are realistically. Chances are your revenues have dipped and your big goals feel far away- but that’s no reason to panic or give up. Now is the time to think about what you really want to accomplish in the next year and put together a plan for getting there.
- Budgets- Now that you have a plan, the reality is that you have to figure out how to budget for that plan. Take into account your overhead and capital expenses and start looking at what areas you can give more budget to- remember to keep this focused on the areas that increase your revenue and help you meet your goals.
- Fractional Teams- After you’ve realized there just isn’t enough money in the budget to do all the things you want to do (it’s inevitable- sorry). Don’t panic. Do some research on how working with fractional teams can save you money while increasing your bottom line. Some of the best fractional teams are accounting, and marketing teams who cost 30- 50% less than an in-house team and get you the same, if not better results. Our fractional CMO offering provides senior level strategy and implementation, so you get more direct impact and revenue for the budget.
- CRM and Automations - If you don’t have a functional CRM that houses all of your sales pipeline and contacts, now is the time to invest in one. Getting all this organized and having a place to clearly see your financial forecasting is going to be a lifesaver. Additionally, many CRM systems have built in automations for reminders, appointment setting and follow up emails- all of which saves you a ton of time.
The coming year shouldn’t be scary, it should be an opportunity to take a look at the bigger picture, and congratulate ourselves on our adaptability and success during these past two tumultuous years. Now we are in a space where we can set some intentions, and carry them forward. Finding the right partners to meet your goals is paramount. If you have questions about how a fractional marketing team can work with you to create an intentional marketing strategy that actually impacts your revenue goals - give us a call.
5 Ways to Revamp Your Marketing Strategy
5 Ways to Revamp Your Marketing Strategy
We’ve seen the effects of supply chain issues in restaurants, hardware stores, department stores, and more — and the promotional products industry is no exception.
The year of the pandemic saw nearly 20% decrease in distributor sales as events and trade shows were cancelled and swag bags went back on their shelves. Now, as these gatherings are reinstated, many of these same distributors are seeing order counts double and are struggling to meet the demand.
Industry trends are showing strong projections for recovery, but it won’t happen overnight, and you’ve likely got some extra unused dollars that would usually be spent on these items that just can’t be supplied right now.
So how do you solidify your marketing strategy when you can’t get your promotional products? Here are five ideas to get started.
Know your audience
Just as the corporate and bigger business sides of the professional world have pivoted and adapted during the pandemic, so have small businesses and individuals. Rediscover your audience and evaluate how your prospects and leads — and their needs — have changed. Understanding your buyer persona is crucial to your success, and you can earn their trust and loyalty by proving your business to be adaptable and sensitive to their experience.
Run a brand audit
Does your visual identity accurately reflect your business’s mission and goals? Once you’ve evaluated your buyer and how they’ve changed over the last eighteen months, perhaps your brand might need a little revamping in order to stay aligned with your mission while still attracting your evolved audience.
Invest in A/B testing
Increase your ROI from existing traffic, reduce your bounce rate, and establish successful conversion rates through extra A/B testing. With one control and one variable group, modify your CTAs, content length, email subject lines, email frequency, or any details that may affect your content, social, or website performance. With each of these tests, you’ll learn more about your consumer and which strategies to more fully invest in for success.
Develop your SEO and social media strategy
Increase your Google ranking by investing in your Search Engine Optimization strategy with both organic and paid strategies. Remember, too, that YouTube processes billions of searches each month, and, as a result, optimizing your video content can help you rank higher on the biggest search engines.
While you’re optimizing videos, translate that same energy into your social media strategy as a whole. With the rise in influencer marketing, social partnerships, and sponsored feed content, both paid and organic social media strategies will help get your content in front of relevant audiences.
Target your campaigns
Once you have a clear understanding of the new pains, fears, and gains of your prospective clients, you’ll be able to run more thoroughly targeted campaigns and meet your audience through very specific touchpoints. Use your newly optimized SEO and social media strategies to implement these audience traits and speak directly to your compatible prospects.
Promotional products are not the lifeblood of your marketing strategy! With the absence of these items — and the wiggle room that may leave in your budget — this is the perfect time to dive into the core structure of your marketing plan and make sure that when the frills and gimmicks are peeled away, the bones of your business’s messaging are solid and representative of your mission and goals.
How to Get Investors' Attention
How to Get Investors' Attention
For over a decade I worked in business financial services with a focus on helping companies find funding. In that time, I worked with various small businesses from big manufacturers to solo entrepreneurs with great new products. What I was actually doing was a form of marketing: developing a strategy for “selling” the company to the right investor partner. While I continued to work with hundreds of companies and business owners, I kept hearing the same things. Over time, as these issues kept coming up, I was able to pinpoint 3 key must-haves that investors need to see from new products and startups that signal they are ready for funding.
The first became a hard rule for my strategies and recommendations, and that rule stands to this day. If you want someone to invest in you and your business, you had better be ready to put some skin in the game yourself and invest in a solid marketing strategy and brand. Without it, you may be a great company or product—but perception is real, and you have to “look the part.”
Skin in the Game.
You mean other than my hard work day in and day out? YES.
One of the first questions every single potential investor asks is, “How much have you invested in this idea?” And no matter how you slice it, what you believe your time is worth and the calculation you came up with for how much time you have spent thus far—is NOT the answer they want. They want to hear a dollar amount you have personally put into this and what happened to it and why you need more. You need to have concise, real (verifiable) answers here.
Brand.
It turns out that a hand-drawn logo on a napkin that your next-door neighbor made isn’t enough to convince anyone that you have a real brand. The perception of you, your company and your products or services is predicated on what emotions your brand evokes in your audience and what they think about you as a result. Here are some often heard examples:
- Hand Drawn logo: This person doesn’t know what they are doing and they don’t have a real business
- Rudimentary logo by a “friend:” There’s no money behind this project and it’s just a hobby
- Outdated logo: This logo looks like it has been recycled from something else and feels like they aren’t in touch with current trends
- Complicated logo design or explanation: Trying to be clever or having a full 3-page story about your logo turns off investors. They want to see a clean, easy-to-understand brand. Not something that is overly complicated or has a detailed backstory that only means something to you.
Secondly, you need to get out of your own way. There comes a point in every entrepreneur’s life where they must realize that even though they built this company or product to solve a problem they themselves were experiencing, they are not their own target audience.
Target Audience.
As the owner of the company, your target audience may be patterned after you. They are probably very much like you in many ways. They likely have similar problems to yours, have a similar occupation and experience many of the same issues you are trying to solve. However, they are not you. Your personal taste in design or content or color does not necessarily appeal to everyone you are targeting. That is why it is important to remember who your audience is and appeal to them, not yourself.
Does this typically mean that you will end up with a brand that is broader than you originally thought? Yes. Does it work better? Also yes. Working to find something that appeals to the larger audience will not only work in the long run for your brand, but it will also help you get the positive attention of the investors that you want—because you are demonstrating your solid understanding that your company/service/product is not for YOU.
Go Get Funded.
Once you have some skin in the game, a real, thoughtfully developed brand and some insight on your target audience, your investors will start to look at your offering more seriously. If they are going to bet on you, they want to know that their chances at success (meaning yours) are good. Making sure these elements are integral to your pitch shows potential investors that you’re committed to your idea, you know there’s an audience out there that wants to buy your product and that you know how you’re going to sell it to them.
Need some help putting the pieces together? Let’s get in touch.
How to Succeed in Retail in the Age of Amazon
How to Succeed in Retail in the Age of Amazon
So you had some extra time on your hands during quarantine and came up with the “next big thing” for retail. Maybe it’s a new premium direct-to-consumer item or a platform for social shopping. Whatever the case may be, in the current age of retail, every business team needs to ask themselves the trillion-dollar question: How do we compete with Amazon?
Amazon’s Corner on the Retail Market
Like Walmart did for brick-and-mortar big box stores, the retail giant has hoarded market share by offering lower prices on thousands of retail products in virtually every industry, and it’s paid off. Amazon reached the trillion-dollar mark in 2018, being only the second company to do so (Apple was first just a month before).
You may be wondering how Jeff Bezos grew his operation to the giant it is today from its humble beginnings in his garage in Bellevue, WA, but consider this: Amazon has been at the forefront of innovation when it comes to online shopping and shipping to your home. It revolutionized shipping speeds with Prime memberships, paved the way for the use of delivery drones and even built more warehouses to accommodate large metro areas.
And that's not all: Amazon is always looking at the big picture and making highly intelligent organizational moves and acquisitions. For example, healthy eating and finding organic food choices are trends that have been on the rise for some time now, and consumers have been willing to pay more for those choices. So what did Amazon do? It bought Whole Foods, the largest, fastest-growing organic food chain. No wonder it reached the trillion-dollar mark.
Paying attention to what consumers want outside of the online arena and giving it to them in a new format is brilliant, and something to think about if you are trying to compete in the e-commerce space.
The Customer-Centric Business Model
As a rule, once a company obtains a certain level of success, the customer satisfaction rating will slowly decline as the corporation has bigger things to deal with. Amazon has only gotten more “customer-obsessed” with their exponential growth. A list of their company leadership principles explicitly states that at Amazon, “Leaders start with the customer and work backwards.” Earlier this year, in a Harris Poll on corporate reputation, Amazon was ranked in the top 3 for the 8th year in a row and the top 10 for the 12th consecutive year. And Amazon topped the ACSI Retail Report for the eleventh year in a row. Clearly they are onto something when it comes to customer satisfaction.
Smaller businesses have an advantage because they have always been better at building relationships. However, they can hold onto customer satisfaction as a top priority by posting crystal clear return policies and by offering one-on-one assistance when needed. Live chat is a fast-growing trend in customer support. We all feel more appreciated when we feel a connection with someone, so allowing your customers to make a personal connection with you and your business can go a long way.
The Coronavirus Effect: Recovering from a Spending Freeze
As in all other sectors, the COVID-19 pandemic has had a profound impact on both e-commerce and brick-and-mortar retail. E-commerce sales are forecasted to jump 18% by the end of 2020, but brick and mortar sales will drop by 14%. This TechCrunch article points out that the bump in e-commerce will not make up for the expected 10.5% drop in overall retail sales to $4.894 trillion—a level not seen since 2016. E-commerce may be enjoying a boost, but when all is said and done, Americans are technically spending less and gravitating to the top two in the category, Amazon and Walmart, for only the most essential purchases.
The Bottom Line For Small Businesses
While most new small businesses won't be able to directly compete with Amazon, there are ways you can be successful without feeling like you need to overcome the impossible.
Here are two ways of staying relevant in the space:
- Go where consumers already are: that is, Amazon. For some, this is a classic “if you can’t beat 'em, join 'em” scenario in which a business foregoes fulfillment hassles by distributing directly through Amazon. For many, this has proven to be a successful strategy, turning a profit by letting Amazon take all the credit.
- Create highly specialized products and services. Another new rule of thumb emerging across multiple industries, narrowing your niche and focusing on a very small percentage of the market can help you gain loyal consumers who know you are the only place to get what they need. Now that Americans are spending less, and Amazon has proven to be resilient, the retail behemoth is sure to keep its market share for the time being.
What may have worked for small businesses two years ago likely won’t work today, and what works today may not work tomorrow. Being nimble and finding small (but bright) windows of opportunity may be just the thing you need in order to survive.
An earlier version of this article was published on Forbes.
The Click to Purchase Myth.
The Click to Purchase Myth
When small brands roll out big dreams.
There are billions of marketing books, articles and gurus all claiming they have a silver bullet to generate leads while you sleep and get you that beach house in a matter of months. Like most things, what you read will rarely transform your life. Why is that? One word: execution. So, after a couple of attempts on your own, you hire a marketing agency, armed with the knowledge by experts and prepared to make an investment that will generate high returns.
This may seem like an exaggeration, but in reality, it isn’t too far from the truth. Businesses see the opportunity and desire a “click to purchase” product or service. This is where you build your digital marketing machine with paid ads to generate leads and a website to purchase. Sounds simple and the books will give you formula after formula to make it happen. And then they hit the wall- where are sales?
Assuming that marketing will be your sole driver for revenue is one of the biggest mistakes we see business owners make.
If you are ready to launch a product or a click to purchase service, here are a couple of things you should keep in mind and be prepared for. Consider this your reality check:
- If you want to build a digital empire be prepared to have deep pockets. It takes a lot of money to get enough traction and analytics to make a dent and even that first sale will take time and refinement. Know that you will learn lessons along the way, and they will be expensive.
- It will take time. Nothing worth having comes easily or instantaneously. It takes a lot of testing, refining and optimizing to get your targeting and message right. It takes at least 3 months to create baselines, understand the market and get a good feel for where you want to go. Even those digital marketing gurus had thousands of things that didn’t work out until they found their golden goose; even if that’s all they talk about. Know that it will take you time too.
If that sounds unappealing, know that there is another way to get your click to purchase solution launched. Take the uncertainty out of the equation and build a business that lasts, not just until the next Google algorithm change.
You are going to need to sell the first several solutions or products. Yes, it’s true. You will need to talk to people, understand what motivates them and how your digital solution solves their challenges. By skipping these early sales conversations you will need to invest much more time and money in marketing proving out different hypothesis. By having the conversations and connecting with these customers, you gain valuable insights and feedback that will help your business exponentially.
Let’s face it, a consultative sales process where you get to understand your customer, build a relationship and find solutions is at odds with a digital play. On the internet, you have to guess at what their challenges are,and feed them information, facts, proof that you are awesome. When you have a consultation you build connection and learn about your clients. This just can’t be done authentically digitally until you understand it in the real world.
What this boils down to is sales process. The more complex the offering, the more complex the sale. Make sure you aren’t just building a marketing machine, but a sales process that aligns with your values, your business, and your customers needs.
Depending on marketing to solely drive your revenue from the get-go is a risky business. We believe in creating sustainable programs that support elevate and grow businesses, not that ARE the business. If you would like to learn more about what a sales and marketing strategy looks like for you- it's time for us to talk! info@revenue.wp10.staging-site.io
The difference between a marketing plan and a sales plan
The Difference Between a Marketing Plan and a Sales Plan
Business plans often glaze over sales and marketing very quickly. They want to know what the overall revenue goals are sure but the HOW is grossly underrepresented. That’s the problem of setting targets, goals, and dreams without understanding what it will take to get there.
We often find that sales and marketing are still the wild west of strategic planning. They get some top-level attention to help define key principles such as your target audience or your core values, but rarely include any of the actionable items. So how do we blend the strategy and plan to achieve that ultimate goal: more revenue?
Before you make the goals, check to make sure that you are incorporating all of the below:
Your marketing plan should include:
- Your key messaging concepts: What are you going to say that will capture your audience’s attention? What problem do you solve, what are the motivating factors, why does your customer care Your marketing plan should clearly and concisely be able to articulate your core message.
- The channels you plan to use: Once you know what you are saying, where you will say it is the next step. Each platform, channel, and community might need a different message and a different way of expressing it.
- Your investments (financial, time and frequency): Marketing is going to cost you one way or another, even free channels on social media are becoming more of a pay to play platform. Your marketing plan needs to map out your commitment.
- Your goals and KPIs. For each channel: It is critical that your plan includes clear expectations so you can measure your ROI, make adjustments and improve.
Your sales plan should include:
- Prospecting: where are you going to find new prospects and leads? Where and how are you networking? How does your personal brand show up on social media?
- Strategic Partners: Who are your business friends who send you more business? Building and developing great strategic partnerships is not only good business sense, but great for your pipeline.
- Your process. Creating a sales strategy takes careful process mapping. How do leads go through your pipeline? What are the critical steps that need to be taken? How can this process be repeatable across your entire team? If sales are the first ambassador of your brand, it is critical that you have a brand congruous process.
- Your KPIs and goals. You need to track your activity just as much as your results. As a sales professional, you need to put in the calls, work, and effort into finding your leads and building the business. Once you are able to hone in on those key metrics you will be able to calculate how much you make every time you pick up the phone.
Building both your sales and marketing muscles is critical to developing more revenue for your business. To help achieve maximum impact, many businesses are hiring a CRO (Chief Revenue Officer) to ensure both of these departments are achieving their shared goal, reducing processes and investments that aren’t paying off and holding the team accountable to growth. If it’s time to see more revenue come in your business we are here to get you there! Contact @revenue today and let’s create a plan for your next milestone.