How effective is your elevator speech?

How do you respond when someone asks you what you do? When you answer them, do their eyes glaze over or do they just say "Oh," and walk away? If your elevator speech isn't concise and intriguing, you're losing out on a very big opportunity to sell your company's products or services.

Hey, I used to give what I thought was a very good answer for the "Who are you and what do you do?" question. I would tell them how I am a marketing consultant that works with small business owners. I would add that when they hire me, it is just like having a marketing person on staff without the high costs of salary and benefits. I thought that was a great answer. It was very concise and to-the-point, but I have to admit, I got the "that's nice" answer and then nothing....

Then, I realized I needed to develop an elevator speech that was motivating enough for the person to want to find out more. Now when I'm asked what I do, I respond with "I help business owners get more clients than they know what to do with and increase their profits by 30% in six to nine months." See the difference? Now, if you were a business owner, wouldn't you want to know how I could help you do that? I know I would!

So, how do you craft that unique elevator speech? It's simple. Think of how your product or service solves a problem for your client and focus on what the end result benefits would be to them. Then, try it out on some people and see how they react. If you've crafted the right elevator speech, you are certain to get a great response.

How do you use telemarketing?

It's been 5 years since the implementation of the National "Do Not Call Registry" and now parts of this registry are set to expire exposing many to the unwanted calls of telemarketers. Many businesses that were restricted by this list will no doubt renew their old cold-calling, telemarketing tactics. Why do I say tactics? Well, because I'm not a big fan of telemarketing in its traditional sense.

In my opinion, telemarketing can be a great asset to a sales force if used properly, but it can also tremendously hurt a company's credibility. I know I don't want to get calls during dinner, in the evening when I'm trying to relax, or on Sunday. That is... if I don't know anything about the company who's calling and why they are calling.

You see, I'm a big fan of using very targeted marketing strategies. I don't believe in purchasing blind mailing lists and I certainly don't believe in making blind telephone calls for marketing products or services. Some companies are very successful at using this technique to peddle their goods, but I think they would be much more successful if they were very deliberate about building and marketing to their database.

I never had much success in using purchased lists. To me, it is much more effective to market to people who know or have heard about your company. Some will say this is contrary to what you are trying to accomplish... getting new customers. But I say it is using your time and marketing dollars wisely. I never added a name to my mailing list unless I or one of my sales staff actually spoke with the person. I also never called anyone unless they gave me permission to do so.

You might say, "But, how do I develop a targeted list?" That's what your marketing plan should spell out for you. When you go to trade shows, come up with a creative way to gather names of the prospects you speak with and get their permission to call. There are many ways you can build your list - ways that will get you a greater response rate when you send emails, direct mail or telemarket. Develop your plan wisely and you will be well on your way to getting those new customers you so desire.

Make Sure Your Company Outshines the Rest

Companies nationwide are working harder to survive. Increased competition and economic uncertainties, often trigger business owners to cut back on their marketing and advertising. Instead of cutting back, keen business owners should be taking any opportunity to outshine their competition. When figuring out what you want to do with your company next year, here are a few things to keep in mind.

1. Develop a plan. It is always surprising how many small companies neglect to do any kind of business or marketing planning. Figure out where you want to go and how you are going to get there. Then write the plan down and update it periodically.
2. View marketing as an investment. The more you strategically market to the people who need your product or service, the more customers you will attract.
3. Evaluate what you are currently doing to make sure the money you are spending on building your business is working for you. Don’t use strategies just because they are part of a traditional marketing program. Focus your efforts on a program that will get you the best results.
4. Stop using strategies that are not working, and always remember to test and measure so you know whether you are effectively reaching your target audience.
5. Review your marketing message. You want to be certain it clearly and concisely demonstrates “What’s in it for me?”.
6. Don’t forget to have fun. If you love what you do and have fun doing it, you will have no choice but to succeed.
   

What do you do when you are faced with a customer crisis?

This past week, I had one of the worst customer experiences of my life. I've been in the process of packing and moving to North Carolina. In June, I contacted several movers and was very specific about my needs. After evaluating the qualifications of several moving companies, I chose my mover. The sales representative and I had several conversations along the way and each time I re-iterated my specific needs.

On the day of the move, the nightmare began. I received a call from the driver first thing in the morning and he told me he would be at my house around 10 am. At 10 am, he called and it was at this time I learned that the wrong size truck was sent (or at least I thought it was the wrong size truck). As the day progressed, I was told that I had to pay $1,500 more for the move than originally planned or "find another mover." Find another mover!! I plead my case telling them what the sales representative had promised and my words went unheeded. They held me hostage on the day of my move for $1,500 additional. My only choice was to agree to pay the charge.

If this were your business what would you have done as the owner?

I will tell you what I would have done and what I have done in the past with my clients. I would have honored the promises of my sales representative and ate the additional cost myself. When you have someone representing your company in the field, it is very important to train them on all the aspects of your business. They should also know never to promise anything of which they are unsure. Regardless, when they make a promise to a customer, it is now your responsibility to follow through on that promise.

Now the moving industry is notorious for the bait and switch. I've heard countless stories of how people were told one thing and then all their belongings were held hostage as the movers told them they owed several thousand more. This moving company has the opportunity to far excel above the competition by going against the industry norm. Maybe if they instituted a policy where their sales representatives were penalized when an estimate is grossly underestimated, they wouldn't be so quick to price the job at whatever it takes to get the job.

When I first started out in business, I made a mistake on one of my customer's mailings. I normally have the customer proof a project, but this particular time, my customer was not available. When the mailing went out, we realized that I used the wrong phone number. Oh, the horror! I immediately contacted my client and told him I would pay for the first mailing as well as the cover the cost for designing, printing, and mailing a new postcard. In the end, I was faced with a $1,000 bill instead of being paid for my work. To me, it was the cost of doing excellent business. Why should my customer suffer for my mistake? To this day, this customer is still one of my best.

So, as I end this post, I ask again... What do you do when you are faced with a customer crisis?

Summer's Over!!

Unless you've got a business that ramps up during the summer months, most business owners will see a slowing of sales during this time. Although Labor Day signals the end of the summer and back to school for the kids, it also brings on an urgency for any business owner. Have you met your projected sales goals?

Now is a good time to take a look at what you've done during the past 8 months and determine what changes (if any) need to be made to improve your marketing strategies. Many businesses will only have the next 2.5 months (Sept., Oct. & the beginning of Nov.) to meet their projections. Taking a good look at the successes and failures of your marketing plan will also help you develop a better plan for next year.

If not already doing so, any business owner should be looking at their sales and marketing expenses at least once a quarter. I can't tell you how many business owners I have worked with who do not track from where their sales are coming. How do you know if you are spending your marketing dollars wisely if you don't complete a periodic evaluation of their effectiveness?

Maybe you don't have the time or expertise to track your marketing efforts. If that's the case, you should never neglect this very important tool. Instead, you should hire an expert, like Mainstay Marketing, who can complete the evaluation for you. I guarantee the money you spend on the evaluation will be well worth it once you eliminate the strategies the don't work and expand on the ones that do.