Posts Tagged ‘marketing strategy’

A few months ago, one gentleman on one of my LinkedIn groups posted a request for help. That post ignited a fire in me.

You see, after composing a response to him, I realized how the 9 steps I outlined could be converted into an article. Then I thought it could become a series of articles or a case study using his site as the example. Then I thought well I might as well turn it into a class.

So that’s what I did.

Next week, I’m teaching a live one-time only teleclass called

“5 Simple Strategies to a 6-Figure Online Store:

How to make FAST RECURRING INCOME so you can live the life YOU Want!”.

If you or anyone else you know is interested, here’s where you can find out more:

http://www.6figureonlinestore.com

I want to thank Larry for the inspiration. It is my hope that I can help business owners like him to create the income they need to live the life they want.

All my best, Debra

The request for help:

Recommendations on SMALL business marketing

Marketing is something that I never pursued much, and I realize now that I need some help marketing my small business. I don’t have much money to spend – my business is SMALL, and there’s not usually much cash flow. Anyone have any suggestions that won’t break the bank besides SCORE and SBA? The business is an on line business, mostly word-of-mouth. I do some magazine and specialty ads, but that’s about it. I am looking for ideas, or recommendations, or just ways to get the word out.
I am envisioning people getting to the part about not much money and then lots of ‘deletes’!!

-Larry

9 Tips to a Profitable Online Store:

Larry, as a former owner of an online retail store, and an internet marketing coach here are a few tips:

Strategy:

1. Don’t compete on price. It won’t get you anywhere.
   When you are a retailer of products that are available through other sources, the reason people will come to you above all others is…. the relationship! Without a relationship, you can only compete on price (which is typically a no win situation).
2. You must provide value-add.
   A blog would help you to establish a relationship with your readers, and create traffic through SEO and establish you as the go-to source for your products. Give them tips and ideas. You need to be a content creator.
3. You need to focus on your customer. Is it the jewelry crafter or other? You need to speak to each subset of crafter differently and have different supplies for each niche. Pick on niche and be the best you can at meeting their needs.

Tactics:

1. Traffic:
   You need to generate traffic. In your case, SEO and a blog would be the starting places. Improve the description on your site. Let people know who the right customer for you is and why they should be your customer. Networking both online and off in craft related forums is next and the fastest way to build relationships. Commenting on other craft related blogs will also get you attention.
2. Capture names and build a list:
   You need to have a way to capture your customer’s name and build your list as soon as they come to you site. Give away something for free in exchange for their name. It can be anything from a product to a free report on jewelry making. Make it relevant to the customers you are targeting.
3. Communicate:
   Send out weekly tips via email and your social media connections. Give away your expertise. Build trust. Eventually ask for a sale.
4. Ask for the sale, and transact business.
   You may need to use some sales techniques such as special offers, bundles, time-limited offers, etc.
5. Build community and Upsell.
   Know what type of products your customer buys and offer them related products at the time of sale. Create upsells. Don’t inundate your customer with more and more offers. Give them your expertise and build the relationship. Deliver world-class customer service. Delight them.
6. Measure results.
   Measure what works and what doesn’t. Learn where your efforts are best spent and focus on those.

That’s it.

If you’d like to learn more about how to grow your online store sales, please join us for this FREE one time teleclass http://www.6figureonlinestore.com.

Do you market your business like a coyote?

The other morning I awoke to a frozen lake outside my front window. And in the small section of the remaining melted water were crowded hundreds of geese. Then out on the ice sat a lone coyote, his stillness required a double take. He sat like a statue, waiting for an unsuspecting goose to leave the water so he could pounce.

The rest of his pack circled the water, and then walked away from the lake, trying to convince the geese that they were leaving and all was safe. But the geese didn’t budge. They could sense the danger of the lone coyote waiting for breakfast.

Do you act like a coyote in your marketing and sales tactics? Do you have such anticipation and eagerness to greet your customer that you become overwhelming and “pounce” on them? Are you so eager that you frighten them away? Do you try to trick or manipulate them into buying?

What to do?

Well, the coyote retreated. They left the lake to return another day. Can you retreat in your business? Probably not.

So, what to do?

Well, I wanted to stir things up and go throw a rock in the lake. Don’t worry, I refrained. I still think it would be interesting to see the change in dynamic to make the geese fly out of the water, thereby giving the coyotes a chance. (The coyote looked like they needed some help.)

The idea behind this applies in your business: How can you stir things up so that you are not looking so desperately ready to pounce?

How can you shift from predator to friend?

Perhaps you can give them geese some bread crumbs! Go back to your marketing strategy and your customers needs, then give them something that satisfies them. That will get them out of the water and onto your turf. And it gives you a starting point to build a relationship based not on consumption but on mutual gain.

How might you move out of coyote (predator) mode and into friendly mode with your marketing strategy?

Do you run with the herd in your marketing strategy?

Do you do what your competitors do? Or do you look for opportunities, innovations, and differentiation?

Picture this. I’m sitting in the parking lot after a performance at the Denver Coliseum. It is gridlock; everywhere. It takes 10 minutes to back out of the parking spot. Of course my husband turns in the direction of the exit and begins to wait in line. Everyone is lined up trying to get out the way we came in. Thousands of cars are in line. The line is at least a mile long. And it is gridlock. No one is moving.

What do you do?

99.99% of the population waits in line and tries to be patient. “Well, there’s nothing I can do,” you say. Everyone else is waiting. You sit and wait and make the best of it.

I am antsy. I picture a map of the area in my head. “Honey, we can go west”, I command. My husband just looks at me like I’m insane. We still have to wait in gridlock just to get out of the parking lot and at the current flow rate; it will take at least 15 minutes to get out.

So what do you do?

99.99% of the population waits in line and tries to be patient. “Well, there’s nothing I can do,” you say. Everyone else is waiting. You sit and wait and make the best of it.

I am antsy. I shout at my husband. Look, there has to be more than one way out of this parking lot. Fire code would demand it. Can you cut straight across that lane of traffic and drive the opposite way of everyone else?

After being married to me for 10 years, he has gotten used this type of dialog. Not that he doesn’t get angry at the backseat driver. But this is not an unusual dialog.

“And where to you propose I go” he asks.

Well, look. See there! Somewhere over there has to be an exit. You see. There are 5 cars that have taken that path and they haven’t come back.

So I order him to cut across perpendicular to the line and once he makes it to the clearing, to drive the opposite way of traffic, and see where it gets us.

So what do you do?

99.99% of the population yells at the moron in the passenger seat, then proceeds to wait in line and tries to be patient. “Well, we don’t even know if there’s going to be an exit that way,” you say. Everyone else is waiting to take the guaranteed path. You sit and wait and make the best of it.

My husband knows better. He cuts to the next lane. But someone behind us cuts us off. We have to wait 5 more minutes until they move forward one car length. But the next car in line won’t let us cut across in front of them. They need to protect their place in line. So we wait another 5 minutes.

So where are you?

99.99% of the population is in line and preserving their place from the people they perceive are trying to take their place.

Finally, we catch a break and cut through the traffic to the wide open parking lot on the other side. We turn away from the traffic and start driving. Where are we going? We don’t know. We drive behind the Coliseum, past the buses, past the loading docks, and finally, to the wide open exit. There are no cars in sight. We turn onto the freeway on-ramp. Still, there are no other cars. We bicker a bit as to whether we are on the right road. But my husband stays the course. We run into slight congestion at the merger of two freeways, and then we are home free.

So where are you?

We are home in our beds before the other guys even hit the street. But, you know, they did preserve their place in line.

So where are you with your business? Are you running with the herds? Or are you taking the road less traveled?

It can be scary paving your own path or following the one less popular. It can also be lonely. It is common to question yourself and have doubts. It takes strength to stay the course. It takes strength and faith to follow the road less traveled. But it also has the highest payoff, the greatest reward.

So where are you?

Are you innovating? Are you differentiating yourself? Are you looking for new opportunities?

As we look to the New Year, new plans, new challenges and new adventures, I challenge you to run away from the herd and take the path less traveled.

Why the “Purple Cow” is a Dog!

Challenging Seth Godin’s Book, “Purple Cow” , and the power of REMARKABLE.

How a book on this topic could sell a quarter of a million copies is beyond me. First of all, claiming that there is a “6th P” and calling it “Remarkable” is ludicrous. I do believe in REMARKABLE and all it entails. However, just because you have a remarkable purple cow doesn’t mean you have a good product or good marketing.

Every good marketer knows that “REMARKABLE” starts at your marketing strategy. It is defined by solving a customer’s need and positioning you in the marketplace. Then the remarkable strategy should transcend your entire marketing mix. If it doesn’t, than you probably won’t have a lot of success.

As an example, let’s look at Seth’s own marketing of the book, “The Purple Cow” and how he used “REMARKABLE” and the 5P’s (NOT 6). You will see that he used REMARKABLE in many ways.

The Product:

“The Purple Cow” is a book about the marketing mix and making it remarkable. Seth added controversy by pulling out a characteristic of good marketing and re-introducing the concept as a new element of the marketing mix, calling it the 6th P. This really isn’t a new concept, nor a new element of the marketing mix. It’s an old concept, just reintroduced in a new and controversial, if not REMARKABLE, way.

The author offered a return policy, which was REMARKABLE at the time.

Pricing:

The price was average price for this type of product. It was NOT remarkable.

Placement (or distribution):

He originally self published the book. This was not an unusual way to distribute the book. However, he primarily used the internet and direct sales to find customers (this was a bit remarkable at the time.)

Promotion:

He got written up in Fast Company, not remarkable, but not so easy either.

His packaging was quite REMARKABLE. He packaged each book in a cardboard milk carton with a purple cow print on it. The box itself attracted attention. He used the purple cow box to attract attention. People would open the box, take the book out and leave the box on their desk, thereby attracting more attention. The box created a viral marketing component. The packaging was consistent with the brand and message and remarkably attention grabbing.

People:

How would you say the people involved were REMARKABLE? What makes Seth Godin REMARKABLE to you?

Not every aspect of the marketing mix needs to be remarkable. You just need to pick one way to be remarkable and carry it through your whole marketing mix. You’ll notice that the Purple Cow’s REMARKABLE-ness started with the strategy: Make something remarkable to prove the concept of remarkable. Seth chose the Purple Cow and then leveraged that theme and created a brand, The Purple Cow, around the premise of being remarkable.

So, while the Purple Cow is not a 6th P, I do think it is an excellent example of remarkable-ness and how to permeate remarkable-ness through your marketing mix.

If interested, you can order the redux of “The Purple Cow” on Amazon…