The Navigator » marketing

An Enlightened View of Competition

Michele — Thu, 20 May 2010 20:13:56 +0000

I found this article in an ezine I get and thought you might enjoy it:

An Enlightened View of Competition

Many business owners regard competitors with resentment, fear, envy and disdain. It’s like every time we look at them, we’re reminded of how they’re taking money out of our pockets.

As you know, one of my main values here at Enlightened Marketing is abundance – the belief that there is plenty for everyone. Especially when we each do exactly what we’re supposed to be doing: delivering value from the center of our gifts.

Another term for the center of your gifts is your “brand.” Effective brand messages tell the world who your products and services are for, and why you’re the best choice for them.

Repeat: why you’re the best CHOICE.

That means the person considering your brand is doing so relative to the other options available. Some people call those options competitors, and I do too sometimes.

But most of the time, I like to call them Alternatives.

Regarding those other options as competitors evokes scarcity mentality in me. It makes me feel they’re out to get me … that there can only be one winner … that there’s not enough for us all and I better get my share!

However, when I call my competitors Alternatives, I feel expanded again. I feel like people who resonate with me will call me for my services, and those who don’t won’t. And I’m cool either way.

The interesting thing about brand choices is that it’s rarely about good and bad; instead, it’s about For Me and Not For Me.

It’s not that I don’t like brand Nike. After all, they have about the most amazing slogan and logo of all time. I just live on Planet Reebok. Reebok is For Me; Nike is Not For Me.

In branding we call this Preference. We want our target market to prefer us to the alternatives. To achieve that, they must believe we’re a better choice.

Here’s how I help my clients understand the Alternatives to their business and how to build preference with their intended audiences:

1. Evaluate to Differentiate.

The entire point of branding is to identify how you’re unique. That’s why you must study the alternatives’ value and yours enough to understand the differences. Phrase these differences as meaningful outcomes for your clients.

We provide women business owners with information that empowers them to make wise investment decisions.” Differentiated outcomes here promise copious information, solutions tailored to the needs of businesswomen and independence in decision-making.

2. Think expansively about alternatives.

I heard organizing expert Barbara Hemphill on a call once say her “main competition is apathy and resignation.” I always ask my clients to position their brands against the alternatives of “doing nothing” and “doing it myself.”

Think about it this way: if you don’t get the business, what happens instead? That’s your real competition.

3. Respect the Differences.

It’s rarely effective to elevate your brand by cutting down the alternatives. Instead, try to understand who might choose NOT to work with you and why.

“For whom would doing nothing be a perfectly good option?” I ask my clients. Well, people who aren’t really bothered by their current situation. When they need a change, they’ll take action.

“For whom might doing it themselves be a perfectly good option?” Probably someone who doesn’t have the budget to hire help. Also, someone who prioritizes personal accomplishment over expert advice.

Rather than denigrating the poor quality of a low-priced alternative, well-known hair care products advertised, “it’s expensive because I’m worth it.”

How can you highlight your advantages without trashing the competition?

4. Support your claims.

When anyone can claim any differentiator, it’s always more effective to provide some evidence.Testimonials, case studies and market research all provide evidence that what you’re saying is true. Removing just a little risk from your prospect who’s deciding whether to choose your brand always helps to turn preference into purchase.

In this way, we can perform a “Competitive Assessment” without negativity. We ensure the clients who’d call you For Me will beat a path to your door, and the rest can enjoy other alternatives.

It’s win-win-win all around.

“By Samantha Hartley of Enlightened Marketing. For effective marketing strategies that align with your values visit http://www.enlightenedmarketing.com/.”

Why Freebies CAN Cost You by A. Michelle Blakeley

Michele — Tue, 04 May 2010 16:19:43 +0000

I have spoken at a few of our Lodestone Business Development Groups about giving services away for free. IMHO, it’s important to be clear with yourself about why you are doing it. Is it in exchange for rent or another service or product? Is it part of your marketing plan? Is it part of your community service? In all of these situations,it’s important to have clearly defined boundaries about what you are willing to do, when you’ll do it, for whom you’ll do it and why you are doing it. If your desire is to be able to pay your bills with your job, you have to have money coming in to do that. In order to attract people who are willing and able to pay for your services, you need to know that there is a value to your services and conduct business accordingly.

One thing I do suggest highly is having some sort of free offer available to others to give them a taste of what you do and who you are. This is a part of your marketing plan and well worth it to provide for people. I love giving something away to those I connect with. If you want to learn more about this, contact me at michele@lodestonedynamics.com or visit us at one of our upcoming Lodestone Group meetings. In the meantime, check out this article I found talking about the very subject of giving away products and services. Very timely!

Recently, Ning announced that they were laying off 70 staff and no longer going to provide their social networking platform as a freebie. Ning’s COO Jason Rosenthal said they would stop offering free services, forcing networks to either pay or move (http://ow.ly/1BNke). Although it is not unusual for us to hear about the need to downsize and tighten belts, it is unusual to hear about such a large social networking venue to suddenly charge you for what you become accustomed to and enjoyed having as a freebie.

Just what is the cost of providing services and products as freebies? First of all, just because you offer something for free doesn’t mean people will want it. Offering products and services at no cost can be tricky. Giving away products and services that you promote as “valuable” actually decreases in value the more you do it. Although one man’s junk is another man’s treasure, what’s the value in something that you can get anytime you want? Just how long can your business survive when you are giving away everything with everything?

How much is too much? What happens when you can no longer afford to give away your products and services? What do you do? Do you grandfather your existing clients with the freebies and only charge new clients? Do you abruptly stop providing the freebies and only provide the products and services that cost?

Providing sessions, teleclasses, products, books, etc. as freebies are all great ways to get your foot in the door but when it is done in excess and/or over time there are risks. Those risks could cost you more in the long run. The last thing you want clients and potential clients to feel is like they’ve just experienced the “bait and switch.”

3 ways to avoid the costly mistake of providing products and services for free:

1. Have a time limit. This will help let clients and potential clients know that it is only for a set period of time and that they can anticipate having to pay for those said products and services in the future. Even if you use the term “for a limited time” or “limited supply” it gives the viewer notice. They should understand that it might not be available or expect a cost at some point in the future.

2. Attach the free product or service to the purchase of a product or service. Create a win-win scenario by offering a “bonus” item to the purchase of a product or service. You get a sale, but the client gets something extra of value without you giving away the kitchen sink.

3. Use the free product or service as a platform they can upgrade from. Keep the freebie a bare bones type of thing and keep the bells and whistles as something of value that they should expect to pay for. Many technology platforms use this type of technique as seen in “basic, premium and platinum memberships” etc.

One final note, if you utilize and incorporate a product or service into your business that does not have a cost attached to it, weigh the pros and cons carefully and know that should the bill come in the mail one day, you will gladly pay it because it is an integral part of your business functionality and success.

A.Michelle Blakeley is the Founder and CEO of Simplicity, Inc.; a progressive small business development firm. She manages her clients’ business expectations and prevents information overload via Micro Business Therapy™ and Micro Business Action Plans. She is featured in Forbes.com and the Financial Post as one of 30 Women Entrepreneurs to Follow on Twitter, the host of Simple Truths for Women Entrepreneurson BlogTalkRadio.com and author of the NEW e-book: “Get it Right and Move Along… a collection of practical tips, tools and techniques for small business owners.”

Top Marketing Trends for 2010 (in my humble opinion)

Michele — Tue, 16 Feb 2010 03:42:23 +0000

1. & 2. Branding Goes Social

For 23 years, Pepsi has spent millions of dollars on SuperBowl ads. In 2010, they stopped. Instead, they are opting to spend the 20 million dollars on a social media advertising campaign called “The Pepsi Refresh Project”. Not only is this giving Pepsi a boost to their image with the concept of doing good in the world and making a difference, it is providing the opportunity to create increase brand awareness, results that can be tracked and will generate demand for their product – all through the use of social media.

There are two trends in one here that can’t be ignored. One is the desire for a greater world full of promise and hope. Especially big with the baby boomers, a company who shows they have a desire to be of service and support others is the company that will most likely get the business from others.

The other is the ever-growing, probably never-going-away social media craze. With budget cuts coming going deep, why not capitalize on what you have that’s free? If you’re department or company doesn’t have a page on Facebook or a Twitter account, you may be missing the boat. With just the right amount of nurturing, you can serve both employees, customers and potential customers alike. If you have a minute, check out one of my last articles on how to do social media right and begin growing your number of fans now.

3. Inbound Marketing

Inbound marketing is all about driving traffic to your website through the use of social media and other forms of advertising AND getting them to buy. Up to 70% of all leads who visit your site are not ready to buy. So how do you stay engaged with them in the hopes of turning them into a purchasing customer in the future?

Creating the ability to capture their email address as a way to share information with them in the future is one way. Remember, though, you need to stay in contact with them regularly (I recommend 2-3 times a month) AND it can’t just be about getting them to sign up for a program. Nobody wants to feel sold to all the time. It’s about sharing information you think they might be interested in. 80% of your content shared should be education, tips, information on trends, etc. versus telling them about an upcoming program you want them to participate in. This is what builds relationships.

Curious how you are doing as far as driving traffic to your site? Checkout websitegrader.com and get your website evaluated for free. If you don’t get a great score, don’t panic. Find someone who is knowledgeable in this area to help boost your site ratings.

4. Marketing Directly to Your Target

This is the way it has always been, however, with all the information coming at people all the time it is more important than it has ever been before. You want to make the most of your time in front of your target market. In addition to your brochure, consider sending out flyers and updates to those who have signed up for similar programs in the past rather than everyone.

Segment out your mailing list is key for this trend. You might choose to have a list for people with preschoolers and send out an email once a month with an activity they can do at home, something about a park facility and an educational piece about why it’s important for children to spend time outside. After you’ve filled 80% of the email with this type of content, add a promotion for an upcoming program.

5. Automate, Automate, Automate

Use an automated system like MailChimp, Constant Contact, Hootsuite, TweetDeck, etc. to automate some of these tasks so you can do a group of them at once and then sit back and enjoy the benefits. Just remember, it’s all about authenticity and transparency so don’t automate everything.

If you have any questions about any of these trends or are in need of additional resources, please let me know. I can be reached at michele@lodestonedynamics.com or 763.633.9364.

Connections

Michele — Sun, 31 Jan 2010 05:15:03 +0000

I spent Thursday at a great Conference offered by WIN (Women in Networking). This was my first experience with WIN and it was a great one. I met several members who were so nice and welcoming and I had a blast interacting with them throughout the day. The conference content was great too. I attended three breakout sessions: one on marketing, one on increasing profits and one on networking. All perfect for what I need in my business. Sometimes it’s hard for me to attend these types of events because I am an introvert by nature. I know how important it is to get out there so I can build relationships with others so I step out of my comfort zone and do these kinds of things alone. I occasionally will sign up with a friend and I love being able to experience something new with them and yet, for my best interests, it’s great to go alone and meet new people rather than having a tendency to stay in that safe zone with a familiar face.

How do you network? What organizations are you a part of that you enjoy? I’d love to hear about them.

Great Email Marketing Tips from Katrina Hase of mix creative

Michele — Sat, 30 Jan 2010 03:32:02 +0000

Check out her blog: http://mixcreative.wordpress.com/2009/10/21/email-marketing-words-to-avoid/