One of the hallmarks of a great business person is how they respond to competition, how they rise above the challenges presented by it, and how they make their business stronger and more competitive in the long run.

Know your Enemy

When a new competitor enters your marketplace, the first step is research. Look at what they’re doing, and how they’re trying to take your customers. In any case, the key is to explain why your product is better, not what your competitor’s product is worse. Bad-mouthing your competitors makes you sound childish, and puts you on the defensive. Instead, just explain why you have the best solution on the market.

Just as important is knowing what your competitors are doing – what services are they providing, where are they advertising, how are they trying to reach your customers, and where do your own marketing efforts overlap with theirs. By understanding exactly what the competition is doing, you stand a much better chance of outmaneuvering them and putting yourself into the most profitable piece of the market.

Keeping your Customers

The key to preventing your competitor’s making inroads into your customer base is by building and maintaining relationships with all of your customers. Of course, this is something that you should do all the time, but is especially important when a new competitor is courting your customers.

Customer relationships are built on two pillars – loyalty and incentives. Loyalty is getting to know your customer, and getting them to like and respect both your business and your product. Loyalty can be analogized to the way you might feel about your favorite restaurant – you keep going back because you know what you’re going to get, and you like it.

However, when you’re confronted with serious competition, your relationships need to go beyond this. It also needs to make financial sense for your customers to stay with you. Provide your loyal customers with incentives – free products, free upgrades, anything to make them know that you appreciate their continued business.

Rise above the Competition

The last thing you want to do when confronted with competition is fight them directly. This will only make you look bad, and cut into your profit margins. The key to beating the competition is rising above the competition. Focus on your unique selling point – what makes your product better than everything else on the market – and stick to it.

Happy marketing!

Sean

Sean McPheat

Marketing Consultant – Sales Expert - Motivational Speaker

As a general rule, creating interest in your product is among the most surefire ways to drive an increase in traffic, and to ultimately drive an increase in sales. Being interested means showing that you care about your customers, and making every possible effort to engage them and please them.

Be Interesting

While it’s never been easier than it is today to create an interesting product, and to generated natural interest around the product, there’s also never been nearly as much competition as there is now.

YouTube is the perfect example – while the popular video-sharing site has made possible the previously unthinkable idea of creating and distributing a video advertisement with no cost associated except the time that it takes you to product it, it has also driven allowed your competitors access to the exact same set of tools.

The key to creating buzz is indirect advertising. In this age where one can access nearly everything they want, totally free of charge, nobody wants to watch an advert. Instead, create a funny or informative video or article, and just include a link to your site. If you can be interesting enough that people share the article, then you be sure to have some of the excess interest spill over onto your website.

Be Interested

However, it’s not sufficient to just be interesting. You must also be interested in your customers. Thanks to the rise of the internet, its now possible to do this better than you ever could before.

Set up a blog and a Facebook fan page where you can see what your customers are saying, and where you can respond to them directly. Modify your marketing efforts to more accurately target your customers, and change your products if your customers are looking for something different.

The rule of being interested also applies to competitors within your industry. Read their adverts, both online and off, to see what they are doing, who they are targeting, and how they are doing it. Read the blogs of industry leaders, comment on them, and share their insights via your Facebook page.

By showing interest in your industry, you’ll not only learn more valuable information, but you’ll ultimately draw more attention to your own site, and your own products. And as we all know – more attention means more sales.

Happy marketing!

Sean

Sean McPheat

Marketing Consultant – Sales Expert - Motivational Speaker

Engage your Customers

Some products generate enough interest to create word of mouth and marketing buzz on their own. For the other 99% of products, you’ll have to do a bit of work to get the buzz started.

The best way to get word of mouth started is by maintaining an open dialogue with your customers. Ask them what they think of your business, what they like, and what you could improve. If your customers like one thing about your business, and your marketing materials are advertising something else, then you need to change your marketing focus.

Get Them Talking

A lot of times, there are word of mouth promotion channels that your customers may not even be thinking about, although they would probably be more than happy to promote your business.

For example, if you own a restaurant, and you know that a customer particularly enjoyed his meal, then ask him to write a review on Yelp! Your customers appreciate the hard work that you put into providing a quality product, and I think you’ll be surprised to find how willing they are to write a glowing review for you.

Throw them a Holiday Surprise

Few things stick in a person’s memory longer than an unsolicited act of kindness. Get your customers talking about you by doing something for them this holiday season. Send some of your best customers a coupon for a discount on their next purchase.

Integrate with Social Media

I know I started this post by taking a cheap potshot at social networking, but sites like Facebook and Twitter are actually just a modern take on word of mouth advertising. Specifically, they give you the ability to see which customers are spreading the good word about your business, and too see exactly what they are saying about you.

Don’t underestimate this impressive opportunity. Social media has given you the ability to know exactly what your customers are talking about. Reward your best customers, and the ones who are saying great things about you. And tailor your marketing materials to get them more in line with the good things that people are saying about you.

There are a million and a half ways that you can try to reach your customers today. But even with all the recent advances in marketing technology, the best way to reach them is still by winning over their friends. Make word of mouth advertising start working for you today!

Happy marketing!

Sean

Sean McPheat

(Image by Stuart Miles)

Marketing Consultant – Sales Expert - Motivational Speaker

All Work, No Play

I personally know a lot of small business owners and freelance contractors out there who are working day and night, producing excellent products and services, but they simply don’t have much to show for it. This is because they are not communicating with clients effectively enough.

There is an ancient Chinese proverb, that “he who rises before the sun 360 days per year cannot fail to make his family rich.” Yet many small business owners are in violation of this proverb, simply because they don’t know how to advertise themselves.

Leverage Social Media

Fortunately, the rise of social media provides small business everywhere with a way to advertise, (almost) totally free of charge. It would be a crime not to take advantage of this opportunity.

Actually putting together a social media campaign goes way beyond the scope of a simple blog post. My purpose here is just to get you started on your way.

If you haven’t already, set up a Twitter account, a Facebook page, get LinkedIn, and create an account on YouTube. Then start engaging. Engage with thought leaders in your industry. Learn from them, and re-share their information.

Then start sharing information of your own. Just remember that the key is looking at things from your customer’s point of view. Only engage them with information that you think will benefit them, and information that you think they will want to re-share.

For instance, don’t just put up a YouTube video that talks about how great your product is. If I wanted to see another dull advertisement, I would turn on the television. Make a video which is humourous, informative, or both. Maybe mention your product briefly, maybe just use it to promote you name. But definitely don’t just upload 5 minutes of satisfied customers talking about your product.

The best thing about social media is that fakers get weeded out fairly quickly. When you are communicating with your customers on a daily basis, it is much more difficult to pretend that you know what you’re talking about.

On the other hand, though, if you’re confident that you provide the best service in your industry, then a social media marketing campaign will make this shine through, and new customers will come flocking to you.

Happy marketing!

Sean

Sean McPheat

Marketing Consultant – Sales Expert - Motivational Speaker 

Which begs the questions, how do you build trust? You build it by offering value-add, by providing valuable products and services to your customers. You also build trust by managing relationships. In the hustle and bustle of today’s world, it is often the second part that suffers.

Making Promises

Everybody make promises that they never really follow through on. From the simplest of things, like mentioning to a friend that you found a recipe online that you think she’d like, to the much more complex, like promising to help a colleague design their website. We all make promises that we fully intend on following through with, but then the world gets in the way, we forget, and the promises go undone.

If you give your word to someone and then don’t follow through, it damages your trust with them, and it damages your relationship. Nowhere is this more true than with your customers.

One Simple Trick

Start by taking a small notebook. This can be a physical notebook, or it can be a note on your iPad or cell phone.

Now, every time you make a promise to someone, every time that you give them your word that you will do something, write it down in your notebook. Then set aside a time each week, say Saturday afternoons, when you’ll go through that notebook and follow through on all the promises that you made over the week.

This applies to everything. Whether you mentioned in passing that you would send an interesting article to a colleague, or you told your son you would go play a game of basketball with him over the weekend. Follow through on every single promise that you made over the previous week.

The best part about this is that since most people forget to follow through on their promises, you will look especially good, and people will stop and take notice of the fact that your word is your bond.
Start with your personal relationships, and once you get in the habit, it will automatically follow you into your business relationships.

Happy marketing!

Sean

Sean McPheat

Marketing Consultant – Sales Expert – Motivational Speaker

Using LinkedIn

LinkedIn is the social media site for the networking professional.  The site focuses on recruiting only professionals, and only those that are looking to build additional business connections.  On LinkedIn you build a network of different providers that you can go to for different things.  Building a broad network that can allow you to help anyone that asks for a referral can be difficult, but it is worth the challenge.

How Network Building Works

The first step to building a big network of disparate professionals is to ask everyone you know to join.  Instead of simply pulling from your email address, contact anyone with which you do business and ask them to join your group of affiliate clients.  Many will do so as long as you include a brief reminder about how or where the two of you met.  By continuing to pursue new additions to your network and asking others to mention your name, you will gradually expand your existing network.  Do not rush this process, quality connections are worth much more than quantity. Once you have an expansive network, it is time to start leveraging it to bring in more clients.

How Cross Referrals make you Money

In the business world, what goes around definitely comes back around.  Cross referrals work, because the more people you refer to others, the more likely you are to be their go to guy for your services.  For example, if you offer bookkeeping services and recommend the same firm for legal advice to everyone that asks, with the request that they mention your name, eventually, the firm will do the same for you.  After all, if you bring them a lot of business and they do not return the favour, you will simply start recommending a firm that will.  Of course, you will need to be cautious and ensure that any company you refer offers excellent service, because in a way your recommendation is then tied to your reputation.  Only refer the best, to keep people coming back for advice time after time.

Happy marketing!

Sean

Sean McPheat

Marketing Consultant – Sales Expert - Motivational Speaker

Marketers can no longer avoid social media, when planning a campaign.  However, not all social media sites are created equal.  Some sites are best for direct retailing, while others are phenomenal for client networking and referral services.  LinkedIn is one of the top resources for client networking.  Unlike the mega giant social media site Facebook, LinkedIn is focused on quality networks, rather than quantity.  The users are professionals, with busy lives and tons of social obligations in addition to work.  This means that gaining a connection via LinkedIn is not as easy as it is through a more relaxed site.  Follow some simple rules when using LinkedIn, and enjoy fantastic success.

1. Be Direct and Concise – On LinkedIn, you are dealing with busy professionals that will not take the time to connect unless they understand the value.   Tell them exactly what you are offering them, or explain what you need.   A simple and direct communication is more likely to get a response.
2. Do NOT Send out Hundreds of Connection Requests – The bottom line is that success with LinkedIn should always be measured in the quality of the connections you build, rather than the quantity.  A network of thousands of people you barely know, will not get you the client referrals you are seeking.  Far fewer more genuine connections will be much more valuable.
3. Never Pass on Spam Requests – Online credibility is all about reputation building.  A single spam forward can negatively impact your reputation with many of your connections.  Avoid the issue, but never forwarding spam.
4. Do Not Generate Spam – LinkedIn is a perfect opportunity to make direct, one-on-one connections with a highly targeted demographic.  However, some people take that as a license to send out bulk requests to everyone in their network.  Like spam email, not only will these attempts never be read, but they will also shrink your network as others disconnect from a perceived spammer.  This is why all one-kick blast messages should be about positive and important information.
5. Keep Current and Stay Interactive – If you profile page is not current, then people are more likely to discount your requests.  If you can not be bothered to update that information it speaks poorly for your professionalism.  Make sure all of your information is current, and check your account regularly.  While you do not have to follow through on all requests from your network, an answer is generally considered to be polite.

Follow these simple steps, and watch as your LinkedIn connections provide actual value.  If you are an accountant looking for clients, check your LinkedIn network for business owners.  Plus, LinkedIn works both ways, so the next time you need a professional service, log on and find the expert in your network.

Happy marketing!

Sean

Sean McPheat

Marketing Consultant – Sales Expert - Motivational Speaker

There are many people who are uncertain about adding Facebook to their existing marketing campaigns, but it offers such tremendous value and potential, that not pursuing this option is a waste.  Take a look at these statistics provided by InsideFacebook:

• There are over 500 million active members currently using Facebook. Putting it into perspective, if Facebook were a country, it would have the 4th largest population on the planet.
• Facebook has been translated into over 100 languages, penetrating nearly one third of the entire, world wide population.
• Facebook’s most recent quarterly growth rate has shown that active user numbers have increased by over 25% in 47 countries.
• Over 85% of American women have a social network profile, with 95% of them on Facebook.
• More than half of everyone who shops online has a Facebook profile.

That last statistic alone should be enough to get you started on creating a Facebook page.  However, you should know that simply putting up a Facebook page will not be enough.  Unlike other marketing efforts, Facebook requires a considerable amount of time dedicated to it.  You must follow up and interact with potential customers on a regular basis to get any benefit from your Facebook page.

Successful Campaigns and what it Takes

Other companies, such as Target and Morton’s Steakhouse, have experienced incredible success using Facebook marketing methods, so follow in their footsteps and enjoy the same kind of success.

Target launched a Party Planning site through Facebook that gave them an overall 6% increase in sales.  This may not apply directly to you, but there are always industry specific things that you can bring into play.  For example, hair salons have had great results from virtual modeling of hair styles.  Home improvement stores have improved sales using tools like how to guides and virtual design tools.  These interactive tools are a big hit with the general public because they allow them to find solutions specific to their needs.

No matter what the marketing platform, customers like to feel special and unique.  One way that you can offer that is with interactive web tools, but another way is through simple interaction.  When you post your Facebook page, the fans will not magically find you. If you want to grow your fan base you will need to visit related groups, provide helpful information and regularly interact with interested parties.  If you pursue these steps you will see increases in the number of fans for your page.  Some other options for marketing include offering promotional give-a-ways.  Current fans are much more likely to share the page if it offers people something.  Consider all the different promotions you currently run and how they can be changed to accommodate an environment where the consumer is in direct contact.

Happy marketing!

Sean

Sean McPheat

Marketing Consultant – Sales Expert - Motivational Speaker

Marketing immediately conjures up huge expense lines for many business owners, but there are methods to maximise your marketing budget without sacrificing on exposure.  New businesses often don’t have a lot in the way of extra funds to offer marketing services and established businesses may not be doing all they could to effectively market.  Below are a few tips that cost little to nothing beyond time.

Create Partnerships

Working with businesses that are in industries that compliment your own can be a good way to generate new business.  Consider all the other products or services that customers who buy your products would be interested in.  For example, a hair salon might want to start a referral service with local nail salons or spas.  All three are in the beauty industry without being in direct competition.  By referring customers back and forth all of the businesses benefit.  Combining marketing funds to produce joint materials can also help get the most out of a tiny budget.  When two companies share the cost of a bulk mailing it reduces the overall expense for each.  Every industry has the potential for creating a referral network, so start building yours today!

Create Coupons

For service industries, the only cost associated with what you sell is time.  If you offer a deep discount for first time customers, you have the opportunity to build a clientele base.  Going back to the hair salon example, you might offer a free cut with any colour or 20% off on a service of their choice.  Offering free consultations or a package deal can also be helpful.  When you give these types of discounts you get the opportunity to show clients your skills first hand.

Getting the coupons out to the general public can be the difficult part, but approach other local companies and see if they will display them for you.  Providing you are willing to return the favour many other businesses are usually happy to let you set up a small display.  Give family and friends a stack with the request that they pass them out.  Leave some at your church or community centre, and always carry a few with you so that you never miss an opportunity to advertise.

Reconnect with Current Clients

Generating new customers is always nice, but it is far easier to convince old clients to return.  It also makes good business sense to preserve existing relationships as you seek to build new ones.  Picking up the phone or typing a quick email, just to say “hi, how’s it going,” can do more to re-establish a relationship than any other method.  By getting in touch simply to catch up you remind the client that your company is about more than sales, it’s about people.

Happy marketing!

Sean

Sean McPheat

Marketing Consultant – Sales Expert - Motivational Speaker

An easy and beneficial way to build a client base is through business networking.  You already contact other businesses on a regular basis for services most likely, so start building a business network referral system.  Get together with other business owners that offer services that complement yours, and discuss a client referral program.  A little quid pro quo in this area can go a long way.  Often interior design groups have preferred construction companies.  Certain event locations work in partnership with specific catering companies.  These kinds of business partnerships can be very beneficial to both parties.

Where Do I Meet Other Business Owners

There are several possibilities when looking for business networking opportunities.  Many local businessmen attend Business Group meetings in their districts.  Trade shows bring together business owners from a variety of related industries and offer an excellent opportunity to meet other business owners.  Major suppliers of a particular industry often have events to which business owners are invited, and there is always looking a person up on LinkedIn to find someone near you.

Finding the Right Businesses to Partner With

Referral networks can be a great way to bring in new customers, but you do need to ensure that the companies you work with are above reproach.  If you associate with companies that provide poor service or do shoddy work, that can affect your company’s reputation.  Look for local industry leaders that are highly regarded within your community.  The business must be in the same industry, but not in direct competition.

How to Get Buy-In from other Proprietors

Other business owners are just as interested in finding new customers as you are.  Being contacted with a mutual referral offer is almost never poorly received.  Not all companies will want to join that kind of network, but many recognised the value.  Not only will they receive clients from your recommendations, but their own clients will be better served.  When a client is having a difficult time finding a reliable company and receives a good recommendation, they remember both the company that did such good work and the referring company.

Business to business network referrals are a great way to generate cross industry traffic.  So many jobs require more than one specialty that having a network of professionals that you can contact is very helpful.  Clients appreciate knowing that the companies they area working with come highly recommended from industry professionals.

Happy marketing!

Sean

Sean McPheat

Marketing Consultant – Sales Expert - Motivational Speaker