Return on Investment: Are You Selling & Marketing Benefits?

As a former fundraiser, I was always marketing and pitching the benefits to donors. If they chose to invest their donation in the cause, what benefits would they receive and where would their money go? In this tough economy, whether you sell the latest widget or gadget, or want to increase your donor base...it all comes down to benefits.

Don't Just Talk About Your Products & Services: Show Worthwhile Benefits
I recently had the benefits vs. products conversation with a client partner. When I write sales copy for my clients, this is always in the forefront of my strategic brain. I explained how these certain products needed to show the benefits as opposed to just talking up the brand as a product unto itself.

Yes, people invest in the brand solely for the brand name, but that brand name comes with benefits - usually high quality and reliability that people can trust and rely on every time they "invest" in that particular brand. When people drop a chunk of change for a product or service, they don't fork over their money blindly. They want to receive value, in the way of benefits, in exchange for their investment.

Show your benefits - whether visually/graphically, audio/video, or via the written word (or all of the above!)  It all comes down to a valuable investment. People want to know what they get in return for the money they plan to spend on your products and services...and are they a worthwhile investment that will yield successful results? How will these benefits improve their bottom-line, and even more important, how will these benefits improve their LIFE?

Are You the Only Person Who Likes Your Product or Service?
I know that sounds like an odd question, but look at the show "Shark Tank" -  many contestants have competed on there with products that don't make sense (or they are the only one who likes their product). Yet they still ask investors to back a product that honestly won't sell in the "real world." If you haven't done your market research BEFORE you launch a product or service, you are looking at problems down the road.

If you are the only one who likes the product or service, it's going to be a tough sell. You need to think strategically - who are the target markets and who would actually use this product or service and will they invest in it? It won't do you any good if you are the only person on this planet who believes in or likes your product or service. You want others to like and believe in your products and services BEFORE you sell or market it.

I know that sounds like a no-brainer but there are some businesses who take the knee-jerk approach. They realize, after the fact, that they can't sell anything because no one else is invested in the "benefits" of the product. You could have the most amazing product or service in the world, but if you can't show why your products and services could make someone's life easier then you need to start at square one.

Tunnel Vision Content Won't Win You Fans
This also holds true of your content marketing. If you create a blog or website and you only write about topics that interest you, then you'll be your biggest - and ONLY - fan. Think about content that interests your target markets. If you don't care about sales or a bottom-line, that's one thing. However, if you want people to jump on your bandwagon then don't produce contently solely for yourself.

Whether you are a fundraiser or a new start-up, think return on investment when you market your products and services (or cause)...and show don't tell!

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Why Observation is Your Best Market Research Tool

How many times have you heard the phrase "the powers of observation?" But what exactly does that mean in relationship to market research? We sometimes observe our clients, customers and even our colleagues with an egocentric focus. The ego steers us away from those gut, intuitive feelings that help us really understand and see people for who they are. 

What does all this psychobabble mean? It means it's time to pay attention to your target markets, customers and colleagues. Read between the lines and don't rely on literal translation - let your logical mind take a breather. 

Dig deeper and really listen, focus and observe people. You can use all the technical marketing metrics and tools in the world, but if you don't see human beings for who they are and how they act, think, behave, etc. - you won't truly understand people on a real and authentic level. 

For example, I just joined a new women's group on LinkedIn. I have "met" and interacted with many of these women on other LinkedIn groups. I assumed my powers of observation were right on the money, but I was wrong. It wasn't until I really interacted and dug deeper and shared honest, vulnerable stories, that I had a huge awakening. I realized I didn't really know anything abou them - yes, I knew the superficial facts here and there but that was it.

Their personal experiences shape who they are, not just as professional women, but as human beings. When we interact on the Internet,  it's easy to forget that there is more to people than just a faceless name, and we sometimes take that for granted. Even when we interact face-to-face, our technology distracts us from "really" observing people. 

How can we fine tune our powers of observation as business professionals? 

1. Check out discussion forums, boards, groups, blogs, etc. When you read discussions, pay attention and observe before you comment. When you comment, don't just share your opinion but ask probing questions (in a polite, respectful manner). Dig deeper and look into the "core" of the people interacting on the forum - not just the surface. It's easy to think we know a lot about people and take people at face value. We are all on different paths so don't jump to conclusions and make false assumptions. It can be difficult to get to know someone on the Internet and people hide behind anonymity, but it is possible to shed the cyber layers. 

2. Listen to people and pay attention to your gut instinct. When your customers talk to you, really listen to them. Don't talk at them. Ask their opinions and feedback. Your gut instinct points you in the right direction. How does it feel when you talk to customers? What's not being said? Can your hear frustration in their voice even though they don't come right out and say they are frustrated? 

3. Don't limit yourself to just business books and seminars. Pick up a philosophy, sociology or personal development book. Try out a yoga class. I'm not saying that business books or webinars aren't effective (I read and attend plenty of them). A different perspective can help us view people and our world in new, creative ways - which helps hone our powers of observation.

How are your powers of observation? Do they need a tune-up? 

 

 

The Danger of Information Overload in Business - Why It's Time to Turn Off & Tune In

Mondays are always a great day for  introspection, because I kick off each Monday morning with my Copywriters' Mastermind group. Today the subject of "information overload" was brought up as a group. We concluded that the internet opens up SO MUCH information right at our fingertips that we feel overwhelmed and it's just too much. There are business gurus to follow, articles to read and social networking groups to join!  Ughhh, stop the madness!

The conversation continued as I chatted with a friend I hadn't see online lately. He mentioned he just needed to slide off the 'online grid'  in order to get his business ducks in a row. I know that feeling all too well. Online insta-communication is great, but it can be a double-edged sword - enough to make anyone's head spin off into dizzying directions!

As business professionals, there are days when we really need to turn off our laptops and mobile devices for a few minutes each day. We experience information overload every second of the day, and our monkey mind spins out of control. 

Instead of cramming as much information as possible into your noggin, take the time to turn off in order to tune in. As "free love" as that sounds, it's a healthy approach to take when you feel overwhelmed and can't stuff another fact into your brain.

Between webinars and text messaging, technology makes it very easy for us to communicate and connect on a regular basis. Google's CEO, Eric Schmidt, reports, "Every two days now we create as much information as we did from the dawn of civilization up until 2003. That’s something like five exabytes of data." 

That's a LOT of information we're creating and taking into our poor grey matter. Before you spend your lunch hour consuming the online version of Wall Street Journal, think about turning off the technology and tune into yourself - yes, a novel concept. If you don't take the time for yourself, no one else is going to do it for you. 

1. Walk away from your desk or computer station. Turn off your cell phone and go outside - even if you only have five minutes to spare, take a deep breath and feel the fresh air filling your lungs. As silly as it sounds, people forget to breathe - a deep, slow inhalation not only relaxes the body, but it rids the lungs of toxins and refreshes the brain.

2. Listen to soothing music. Stash the cell phone in your drawer, sink back into a comfortable chair (whether at home or at the office). Don't do any work. Play soft, soothing music for at least five to ten minutes. Close your eyes and just listen.  Music has a calming effect on the parasympathetic nervous system, and soft music relaxes both mind and body.

3. If possible, don't answer work emails or text messages at home. If your job is an "around-the-clock" type position, that might not be possible. But if you can, check out of your office role and check-in at home. Start slowly. Set a timer and make a promise to yourself not to check your Blackberry or laptop for 30 minutes. Make it a priority to relax - play with your dog, hang out with your family or just sit quietly/mediate without being disturbed.

I'm just as busy as the next person, and I find myself caught in the trap of information overload as well. I practice yoga on a regular basis and my teacher said something very prophetic last week that stuck with me: "Yoga is a work-in NOT a work-out."

This statement could be applied to your daily professional grind when it comes to information. We spend so much time focusing on the external - meet that goal, read that article, write that speech...that we forgot about our internal selves. By just taking a  few "ME"  minutes, your energy increases and makes you more productive in the long run - and puts a smile on your face!

Instead of tuning in all the time, give yourself permission to tune out - you'll definitely feel better!