Operation “Game Change” - The Formula for Marketing Your Service Business in Tough Economic Times
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After this presentation you'll be able to.... • Explain why many business owners that provide professional services never see substantial growth • Describe how to structure services to unleash business potential • List the five pillars of a sound marketing system that will make you a Game Changer in the marketplace
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Operation “Game Change” - The Formula for Marketing Your Service Business in Tough Economic Times
- 1. Copyright © 2013 LaunchU LLC
- 2. Copyright © 2013 LaunchU LLC All rights reserved.
- 3. Tough Economic Times Copyright © 2013 LaunchU LLC All rights reserved.
- 4. Copyright © 2013 LaunchU LLC All rights reserved.
- 5. Copyright © 2013 LaunchU LLC All rights reserved.
- 6. • The CONTROLLER • The PLEASER • The SOCIALITE •The GAME CHANGER Copyright © 2013 LaunchU LLC All rights reserved.
- 7. Copyright © 2013 LaunchU LLC All rights reserved.
- 8. Copyright © 2013 LaunchU LLC All rights reserved.
- 9. 1. Focus on an unexploited niche 2. Align service structure 3. Be an unparalleled resource 1. Stretch regularly outside expertise 2. Base contracts only on quotes 3. Work with clients you don’t like Copyright © 2013 LaunchU LLC All rights reserved.
- 10. Copyright © 2013 LaunchU LLC All rights reserved.
- 11. • Design a core service that is a perfect fit • Provide additional services that compliment • Package and price according to niche • Increasing efficiency • Increasing quality • Increasing effectiveness Copyright © 2013 LaunchU LLC All rights reserved.
- 12. • Content rich website • Connection to complementary sources • Social media platforms • Newsletter Copyright © 2013 LaunchU LLC All rights reserved.
- 13. •Differentiation •Position self as expert •Strategic Alliances 1. Provide discounts or lower prices 2. Hold back information or wisdom 3. Be the only one promoting self Copyright © 2013 LaunchU LLC All rights reserved.
- 14. Copyright © 2013 LaunchU LLC All rights reserved.
- 15. •Book •Presentations •Workshops •Blog •Podcast/Radio •Video Copyright © 2013 LaunchU LLC All rights reserved.
- 16. • Referrals • Insight and feedback on your business activities • Spokesperson for you • Team up on promotional activities Copyright © 2013 LaunchU LLC All rights reserved.
- 17. Copyright © 2013 LaunchU LLC All ri
- 18. 1. The quality of your marketing next to competitors 2. The strength and weakness of current marketing system 3. What to implement immediately to get greater results 4. Long-term marketing strategies to consider Copyright © 2013 LaunchU LLC All rights reserved.
- 19. 1. Helps you redefine your business niche 2. Provides guidance on branding, image, and promotional system that is affordable and sustainable 3. Recommends resources and experts you can use to put the plan into action 4. Outlines a schedule and expenses estimate to launch the new marketing system Copyright © 2013 LaunchU LLC All rights reserved.
- 20. 1. Same as solo coaching program 2. 2 or 3 business owners per group 3. Cost of program is split among participants 4. Mix of virtual and local meetings 5. Coaching begins in March (bi-weekly meetings) Copyright © 2013 LaunchU LLC All rights reserved.
- 21. Copyright © 2013 LaunchU LLC All rights reserved.
- 22. Launch Sequence Perspectives and strategies on promoting a successful professional small business. Copyright © 2013 LaunchU LLC All rights reserved.
- 24. Your Target Market Buying Now Not Thinking About It Open to it Don't Think They Are Interested Know They Aren't Interested “The Ultimate Sales Machine” by Chet Holmes
- 25. Copyright © 2013 LaunchU LLC All rights reserved.
- 26. Copyright © 2013 LaunchU LLC All rights reserved.
- 27. 1. Yourself 2. Business 3. Packages Image Copyright © 2013 LaunchU LLC All rights reserved.
- 28. 1. Modern and mobile 2. Search engine optimized 3. Regular, fresh, relevant content 4. Easy navigation 5. Calls-to-action for interaction Copyright © 2013 LaunchU LLC All rights reserved.
- 29. Copyright © 2013 LaunchU LLC All rights reserved.
- 30. Copyright © 2013 LaunchU LLC All rights reserved.
- 31. 1. Engagement over numbers 2. Integrate F2F networking/contact 3. Select media based on B2B or B2C Copyright © 2013 LaunchU LLC All rights reserved.
- 32. 1. Collect from • Get permission visitors/networking • Provide Opt-out 2. Provide a sign-up form on website 3. Provide sign-up incentive 4. Segment lists Copyright © 2013 LaunchU LLC All rights reserved.
- 33. 1. Build a relationship with the list 2. Plan one or two campaigns a year Copyright © 2013 LaunchU LLC All rights reserved.
- 34. Copyright © 2013 LaunchU LLC All ri
- 35. Copyright © 2013 LaunchU LLC
Notas del editor
- Introduce selfConduct numbers activity to demonstrate how taking time to develop a strategy pays off.ACTIVITY: Number Challenge - Making choices under pressure Materials: each person needs a pen and piece of paperPurpose: Demonstrate how it is difficult to make good choices and plans when constantly under pressure. The FTC process streamlines patient visits so thoughtful and complete care can be given to patients. Directions:Have everyone collect a pen and piece of paper to record numbers. Can be scrap paper or empty page in workbookInstruct them to record the numbers as they are read.Periodically they will be asked a question. They are to quickly answer it and continue recording numbersWhen they are ready, quickly read the following sequence of numbers and questions.25, 40, 1, 90, 1834, 2, 129, 52, 111, 6, Name first color that comes to mind? 16, 37, 4, 198, 61, 17, 1953, 82, Name apiece of furniture. 92, 49, 1602, 3, 78, 26, 54, 2, Name a genius. 61, 39, 85, 1751, 6, 47, Draw a picture of a flying horse.After they have had a 10-15 sec to finish horse, ask them to share it with the person sitting next to them. (This is to get them out of the high-pressure frame of mind and ready for next step.)Ask everyone to stand. Tell them to sit if the color they wrote was Red, then Blue, then Green then Yellow. Red is usually number one answer. Ask those still standing (usually less than 10% of class) what colors they wrote downAsk class to stand again and repeat process with furniture answers. Have them sit if they said Chair, Desk, Sofa, or Bed. Chair is most common answer. Ask those standing to share their answers.Have class stand again and address the genius answers. Have them sit if they said Einstein (95%), then Edison and DaVinci. Ask how many said themselves (second most common answer). Ask those still standing to share their answers.Ask the class “Why it was that so many people made predictable choices in their answers?”The pressure of recording the numbers limited the ability to think beyond automatic responsesAsk: “How often does your office feel this pressured? Does it limit your ability to think carefully about the choices that need to be made?” Ask them to take a moment and identify them most unique color they can think of and write it down. Go around the room and have people say their color. If it has already been said, they can “pass”. Ask a helper to record number of unique responses.Compare number of unique colors to the number beyond the four basic ones in the first example.Ask “What was the difference in generating the two lists?” – Time to think and focus.
- As you can see from the opening activity, I love group interaction. We will have Q&A time in the middle and at the end. I’ll also share briefly about my services and upcoming events. You are welcome to ask questions at anytime, especially to gain clarity.I will consider this session a success if one of the following things occur 2) You learn something new that helps you grow your business 2) You learn you are on the right track or need to get back on trackI am going to wear a business consultant hat in the first half, and a marketing consulting hat in the second half. These go hand-in-hand regarding small business. Analogy – tall buildings must have a strong foundation to build upon. Business practices and services are the foundation to effectively market a business.At the end I will collect your feedback sheets.Segue: Let’s talk a bit about why we are here today.
- Ever since the housing bubble burst we’ve experiencedeconomic disaster and slow recoverySlow housing market recoveryUnemployment rate not expect to change muchFiscal cliff postponed, not resolvedHowever, there is hope. As business people we always believe there is opportunity no matter the situation. I believe that is what I am bringing to you today. Segue: Let’s talk a bit about how the economy is affecting us right now…
- This is what all businesses are dealing with right now. Survival mode creates a vicious cycle that is hard to break from. It can impact quality of service which causes more loss of business.However, not everyone is in survival mode. Why is that?A struggling business almost always can be attributed to business practices, the current economy just magnifies it.Example: The glut of investors flipping houses before the bubble burst. People with very poor management and quality still made tons of money. After the bubble tons of investors went out of business. The tough economy exposed their poor business practices.Any small business operating right now, even if surviving, has earned its place. But, if you are just surviving, its possible more can be done.Segue: Let’s talk a bit about some “not so good”, but common, business practices.
- One of the rides in business that you can experience is the revenue rollercoaster (ask if participants can relate).Share personal experience of working in a small consulting business for 8 years.The roller coaster of being really busy, then no business. Too busy to find business. Then, when there is business, too busy to find more work. This is common when solely depending on referrals.Government contracting means your fat then starving. Living contract to contract. Effected by government cutbacks. Services don’t often directly translate to civilian needs.This is a ride most of us don’t enjoy. A solid and continual marketing strategy helps diminish the twists and dips considerably.Segue: Business practices also have a lot to do with the owner’s personality…
- (Have participants raise their hands if these are tendencies they are working to manage)Controller – wants to do everything themselves to maintain qualityPleaser – goes above and beyond expertise and commitment to make a client happy, profit margin diminishesSocialite – Loves networking and talking with people, can’t seem to close a dealGame Changer – Decides to get off the revenue rollercoaster and move away from personality led business management. This allows them to implement the actions necessary for a marketing system.The reason why this approach is “game changing” is because the majority of small business owners will choose to stay the same. Change is one of the hardest things to manage in life. After today you will know what you need to change (if you didn’t already), and it will simply be a choice to do so.(tie back to practices being like the foundation to a building)Segue: Here are a few insightful remarks I’d like to share…
- Quote #1 – In this economy a business cannot grow without marketing. This means more than networking and informal referrals. And, it has nothing to do with the quality of your services. The days of organic and spontaneous growth are not here.Quote #2 - It’s not another person’s job, it’s your job. For professional based services, you are the product they are ultimately buying. You can’t turn that over completely to other people, but must learn how to promote yourself.Quote #3 – The only way to turn into what you really want to be is by drawing the clients you want. The catch is you have to know what you want first.Segue: Let’s focus on the word “want”. What do potential clients want from you, and what kind of business do you want to be?
- In a tough economy the issue isn’t that people don’t have money, it’s that they are more picky on how they spend it. They only spend it on what they believe has high value.The key word is believe. Belief is based on perception and experience. Marketing helps potential clients understand the value of your service before they actually experience it. A Game Changer recognizes this and then takes action.Segue: Here are some ways to promote value…
- Provide value by operating as a niche business. You cannot compete profitability with the “walmarts” of your industry. Instead you want to charge fair rates (not the lowest) for the quality and type of service no one can beat.Something I often see in professionally based businesses is “service creep”. When clients make special requests, its not hard to accommodate. Business owners take on these contracts when they are desperate for business. Basing business primarily on quotes (this differs per industry) can indicate a clear service structure for a niche has not be established. It encourages “service creep”.It’s okay to stretch for clients periodically. But it’s important not to loose identity. Also, working for clients you don’t like carries the potential for negative repercussions that cost more than the money made for the moment.Segue: Let’s break it down a bit more these three items on how to provide value…
- Examine or reexamine in your area of expertise if there is a certain population with unmet needs and desires. You can start by considering who are the type of people you enjoy helping the most.Your gut instinct will tell you what are possible niches, but then this must be backed up my research. Verify the level of competition (should be minimal to none) and size of the target market to make sure it is viable. Take time collecting information from your ideal clients. Fully understand their demographics, income, education, attitudes, media preferences, point of pain in their need that you are addressing, etc… These play a huge role in structuring your services and marketing them.Example niche businesses – Sports Cuts was successful enough to franchise. Lots of barber shops play sports, what makes sports cuts different (compare to niche definitions)?
- A core service and packaging (specifying benefits/outcomes and price) allows for development of templates and standard operating procedures. These are fundamental to expanding the business as a firm or in hiring employees.Promoting packages increases buyer confidence that you are equipped to do the work.Analogy – core service is the main dish, complimentary services are side dishes. All made with the specific diner in mind.Example core service for contractor – building sunrooms. Atlantic Exteriors and Bayview Exteriors do this well, thought they do all the standard exterior construction work (roof, siding, gutters, windows, etc…)Example core service for interior design – designing church sanctuaries, package contains recommended design within desired budget. Package cost based on size of sanctuary. Complimentary service – redesigning sanctuaries, managing design projects, preparing a sanctuary for broadcast
- Being a resource highlights your expertise because it demonstrates how well you understand the industry in context to your client’s needs. Being a resource means sharing information that is already available, but you’ve filtered and presented it for your clients.NewsReel.com is a good example of packaging industry information.(Ask participants to describe how they are a resource)Business example - a plumber who specializes in toilets can have a FAQ and action steps on their website for if one gets backed up. They can recommend a parts providers for very easy repairs the homeowner can do. Or, provide reviews on the best new toilets available for sale.
- We’ve just reviewed how to make your services business more valuable, now let’s review what you can do to be PERCEIVED as valuable by those who’ve not used your services.First, you have to stand out from the crowd. Your marketing needs a message and visuals that are very different from what people expect.Then promote yourself as an expert, not in broad professionals terms, but in your niche. Present yourself as a thought leader.Last, add or improve your strategic alliances (people who support the same target market as you, but with different services).Don’t lower your prices or provide discounts. These diminish the value of your service in the consumer’s eyes. For special promotions offer extras at no cost to the standard service. It’s best if these “extras” require little additional effort on your part.For example, a HVAC install and repair service can promote late in the summer season a free 10 point check and efficiency recommendations for the heating system.
- Your business may be the only one of its kind in town, but if its easily perceived to be just another “fill in the blank” then it will get lost in the crowd with its competitors.For example are you immediately pegged as 1) a class A contractor 2) a restorer of 18th century homesHow many attorneys, chiropractors, acupuncturist, accountants, image consultants, etc…. Are there? Tons, and it’s easy to get lumped it.The best way to differentiate one’s business is through branding. This is covered in more detail in the second half of the presentation.
- Promoting one’s expertise is different from being a resource. It’s going to another level by demonstrating one’s self as thought leader in their niche. Client education is one of your best marketing strategies in this economy because highlights the value of what you do. It is also another way to differentiate yourself from the crowd.If you have to choose between two service providers, and one of those individuals wrote a book on it, who would you choose?(provide examples for each of these avenues of promoting expertise and explain how they can be accomplished by those with little time or funds).
- Strategic Alliances – other business owners or people who serve the same target market as yours, but with different services.It’s important to nurture these relationships so strategic opportunities can be formed. Get together for lunch, talk on the phone, promote each other on social media, get on each other’s mailing list.
- Conduct a short Q&A session on material covered so far. Limit to 2-3 questions.
- This package is best for businesses with established marketing practices. It focuses primarily on assessing competition and improving marketing tactics. It is very helpful for establishing annual marketing plans. The business owner implements Rocket Booster’s recommendations. It costs $445.
- The coaching program helps business owners establish or reestablish their business in a new niche. It focuses on applying the business practices we discussed so far in addition to establishing a marketing strategy and implementing it. Depending size of the business the coaching costs between $1800 and $2000.
- I am running a special in February for business owners who would like to team up for group coaching. It the same program, but sessions are conducted as a small group. The cost of the program is split between the participants.
- I have a wonderful blog called, Launch Sequence. Everyone who subscribes get my email course/ebook. If this interests you, just select that option on your feedback form.Now, let’s continue to part two of this presentation. This is were I put on my marketing consulting hat.
- Explain this comes from Hubspot. Use downloaded PDF or click on image to go to presentation: http://www.slideshare.net/HubSpot/how-to-suck-at-marketing
- These stats come from the book “The Ultimate Sales Machine” and research done by Chet Holmes.This is a breakdown of the readiness of a target market. Most salespeople go for the three percent (they suck at marketing). They miss all the other 70% that is possible if properly addressed.If 30% of the market thinks they aren’t interested, then client education is an approach that can turn it around. For those that know they aren’t interested, don’t even waste your time.Your focus is to find people who would consider buying your services at some point and get connected. Then you want to stay connected so you are in position for when they are ready to buy.SEGUE – Inbound marketing is modern approach to marketing today.
- Inbound marketing is the modern approach to marketing today. It’s setting yourself up to be easily found by those who want you. This aligns perfectly with a niche business structure – being a resource, high value service packages, and strategic relationships.Keys to inbound marketing is the website acting as a hub with spokes leading in from social media, search engine keywords, blogsphere, other websites, and your own email list.Outbound marketing is focused on throwing a message out to a wide audience and hoping it sticks. However, today’s world is inundated with this kind of marketing. It’s hard to get noticed.Inbound marketing focuses on long-term strategies and should be the primary means of your marketing approach.
- Ask class why these pillars are at times discounted by people in business.Explain how all these pillars are obtainable by small businesses with very small marketing budgets. Provide examples.
- Branding actually consists of multiple layers (yourself, business, and packaging of services) that harmonize and complement each other. If you are a professional, branding yourself highlights personality and attitude. Since you own the business, you define the business instead of the business defining you. It is very important to manage your personal image since you are what people are buying. A good image consultant is invaluable in getting the appearance you need, and then have a personal motto that is easy to share.Business branding is more than a logo. You use the information collected about your target market to define the brand’s emotion. For example, if the client’s point of pain can be described as frustration, the emotion the brand should communication is “easy” or “simple”. From this point you can develop the message to be communicated in the business name, tagline, and all other promotional text.. Also the visual aids such as graphics, photographs, and colors.Something a lot of service providers don’t consider is branding their services. This is most important for “packaged” services. A thoughtfully branded package appeals to the emotions of the client, while also communicating that the service is worth making look good. It demonstrates thoughtfulness and careful preparation.Trade marking is important for claiming ownership to clever names or to make sure another business’s rights are not impinged upon inadvertently (incase someone else has a very similar concept). Consider the vision for your company, the bigger it is, the more important Trademarks become. Unregis-tered marks are not uncommon in start-ups, but be prepared. Do a little research to make sure your idea is unique. Once the business is doing well, get the marks registered.
- I believe your online presence can represent your potential to capture market share. Your business and its information should be readily available in multiple forms and on authority websites such as directories and social media.Modern websites are very image oriented – Photography, videos, and branding are the top methods. Everything is going mobile, it is important for every business to move that direction. Websites are search engine optimized two ways. First it must be on-page optimized for search engines to recognize it. Then it must have off-page optimization to be found relevant and rank-able. The idea is your target client can type a few specific keywords in a search engine and easily find you (not using your name, business name).Fresh content is relevant to website visitors and to search engines. Fresh content is best positioned for client education. This includes blogging, videos, articles, FAQs, newsletters or ezines. The idea is it keeps them coming back for continued engagement.Interaction is also relevant to website visitors. Use online booking systems, event calendars with easy “save the date” buttons, highlight social media connections, encourage connection with contact forms and email links.Have multiple links and buttons that lead to your most important pages. Don’t make visitors have to search for information.
- Most small businesses have this down really well. Just check to make sure you appear in as many relevant directories as possible. Also make sure all the information is accurate and complete. Many directories like yellow pages have upgrades you pay for. Getting just the basic listing (free) is better than nothing.Global directories – superpages, manta, whitepages, citisearch, yellowpages.Local directories – citisearch, findhamptonroads, shepherd’s guideIndustry specific directories – wellness.com or lawyers.comGoogle Maps contains business info and customer review. Google Plus profile holders can select, sort, and share their favorite places. Businesses with storefronts for customers should plan on video capture of their space for Google Places.Ask participants about their experience of yelp and angies list. Explain the difference between the two as appropriate.
- Connecting with people face-to-face through groups is invaluable to business. Find the right one to two network or professional groups that are most advantageous for you personally and your business.Don’t over-do networking by looking only for people who want to do business now. Once you have a good network, nurture the relationships so you can 1) get referrals 2) eventually do business when the time is rightExamples of local networking groups - Chamber of CommerceBMI groupsIndustry based groupsMastermind groupsEvents sponsored by you for your clientsBuild connections and referrals within your client base. Structure a system to facilitate this with your biggest fans.
- Social media is a tricky marketing tool. First, you really can’t grow a business without it. But, it can also be a real time waster with no profitable results. The primary SM sites are considered authority websites. That means information on them gets priority in search engine relevance. When you create business profiles you can use your business name or well chosen keywords. Whenever these are typed into a search engine, they rise to the top. It is critical for you to generate all the SM profiles you can to own the name or keywords before they are taken.A lot of businesses prefer to use SM tools to enhance their brand and learn more about their client base. In general I recommend businesses to focus on a primary SM medium, and use a secondary to enhance if needed. SM like FB and Pintrest are excellent for B2C services. Linkedin is outstanding for B2B service. YT can go either way along with G+ that increasesSEO of any type of business (google places and map).When using SM, focus on engagement over numbers. It’s more important people are actively involved than getting a bunch of people who don’t care. On the other hand, certain media require certain numbers to be considered a reputable resource (FB with 400 likes, Linkedin company with 200 infollowers, linkedin personal with 500+ followers).Combine your personal networking and client base in your SM network. Create value with these individuals with your interactions. (share example of what I do).
- A contact list is pure gold. The power behind it is limitless. It is almost as critical as your website. You may already have a contact information in a database somewhere, but it must be prepared for action. At minimum, a name and valid email is all you need. People are now overwhelmed with email, so have a valid email address provided to you voluntarily is very valuable.As you collect contact information through networking (personally or online) ask if they mind being contacted by your business through email. Have a sign up form on your website. Some very popular contact management systems are Constant Contact and Aweber. I personally prefer MailChimp.Most folks need a little incentive to join your email list. Have a nice informational product available for immediately download. This tool can both attract and educate your target client.
- Building a relationship – ezines, newsletters, something of value to potential and current clients. This keeps you present in their thoughts when issues pertaining to your expertise become relevant.Campaigns – schedule them to capitalize on specific events or seasons. They can help improve slow periods. Campaigns generate company buzz by introducing fresh ideas and new opportunities to current and past clients.Campaigns are most successful when people 1) know it’s coming 2) it’s timely to their need or interest 3) is available for a limited time
- After Q&A conduct the card trick to close.