I once read a sign in a locker room that has always stuck with me: “If You Hit Your Hand with a Hammer Every Day, It Will Never Get Better.” Before we jump into the main significance of this message, I’d like to point out that I saw this sign years ago and still remember it quite clearly. The message was quick and to the point and was accompanied by a simple image. Remember there’s a time and place for longer content. Think about the audience and location of your ads before you develop your copy. Not to perpetuate any derogatory stereotypes, but guys in a locker room probably aren’t looking to read a whole lot. A quick and tempting ad has the power to persevere and remain locked into your audience’s minds. Okay, so now that I’ve gotten my standard tangent out of the way, we’ll get into the marketing meat and potatoes I originally intended.
Unless you’re one of those athletes who continued hitting yourself in the head with that hammer, then the sign’s message should be quite clear: Your injury will never heal if you continue participating in your sport and don’t do anything differently in your routine. As I am just short of the athletic talent level of Tiger and Gretzky, I decided to pursue the limitless possibilities of the Internet, and have remembered this sign for a different reason. In my sapling days, when I was a young and inexperienced entrepreneur, I sometimes found myself experiencing aggravating defeats in my marketing ventures. The element that made them the most aggravating was that my lack of success was consistent. It seemed that even though I had some great input from some marketing gurus and had applied my own Einstein-level of genius that my ads just weren’t gaining the traction I thought they were capable of. Then I saw the sign…literally.
When I read that sign, I realized I’d been hitting my injured marketing campaign with a hammer and expecting it to get better. I was so confident in the ads I had going that I managed them like a desperate soon-to-be-vagabond in Vegas, playing the same number over and over again in roulette, thinking that I was improving my chances simply because of numbers and time elapsed. Your bootstrapped marketing campaign should be looked at the same—you’ve got an equal chance of failure or success with every prospect. Granted, sales and marketing does ultimately come down to a numbers game, increasing your chances of a sale with every person you ask, but you are a bootstrapped budget and can’t always afford to play the game of large numbers.
Lesson learned: Whether it came down to wrong geographical location, incorrectly targeted demographic, outlying economic factors…I came to realize that even though I had some fantastic ideas and approaches involved in my ads, they simply weren’t working. Don’t hold on too long to ads or business methods that aren’t working or you’ll end up with an extremely bruised and battered hand. A particular method to help you decide how well something’s working for your business is conducting an A/B split test. For example, create two versions of an ad for the same exact product/service. To ensure accuracy, make sure you disseminate those ads equally among demographics and locations. Then, measure and compare the results of ad A versus ad B. Go with the one that garnered the best results, and then use that ad to create another split test down the road. Because even though you may have managed to put the hammer down, you may still be able to look into some business supplements to take you to an even higher level of success.
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Unless you’re an uber famous Hollywood star, then chances are you ask this question almost every time you purchase something (unless it’s toilet paper): Why should I buy? For one thing, some Hollywood stars probably do use their money as toilet paper. But the point is money isn’t exactly an issue for them, so they don’t put much consideration into most price tags they come across. For us Average Joe Consumers though, we’re on a constant hunt for value. We’re like a real-life version of The Price Is Right; with every successful move hinged on the price of a product or service. Now, apply this mode of thinking to your prospect’s perspective.
Every time a potential client is presented with your product or service, they will ask themselves why they should buy from you. This is a natural reaction—people have a natural propensity for procrastination. However, when you multiply this by the effects of today’s economy and then multiply that by the thousands of new small businesses entering the marketplace on a daily basis, well, you sure have to give them a helluva good reason why they should buy from you.
Now, hopefully you’ve been following along and enjoying our articles, so perhaps you’ve heard us mention unique selling point (USP). Your USP is the answer to your prospect’s question as to why they should buy. Make it incredibly obvious what makes your business different from the masses. These are the one or two gems that make your business a necessity in your prospect’s life. Take note of an important element in that preceding sentence. You need to make sure you keep your focus on just a couple distinguished aspects of your business. Include more than that in your marketing and branding efforts and you’re going to sound like a recent graduate’s resume, listing everything from “habitat improvement” for mowing lawns to “sales experience” because they buy groceries on a regular basis.
Spread your apparent specialties too thin and throw fluff at your prospects and they will see through you. And remember, Newton’s Third Law here: for every action there is an equal and opposite reaction. This can go two ways for word of mouth (WOM) marketing. Most people only talk about getting clients through WOM, but if you come off as the recent graduate in your business pitch, then you may lose clients through WOM. Just think about all the countless blogs and online forums here on the Web today. An obvious trend is people’s absolute love of discussing hate. People are just tickled pink that they now have the opportunity to complain about anything at all that bothers them. Whether it’s the fact that one of their feet is bigger than the other so they have to buy two pairs of shoes or that they visited some person’s website and thought it was nothing more than a cheap ploy, word will spread about your business.
Your specialty could be the fact that you’ve never once been late or missed a deadline or possibly your stunning customer service which never allows the phone to ring more than three times and the promise that they’ll get a live person on the phone every time. Write down your business’ top 10 attributes, and then narrow that last to your top one or two. Now, make sure you’re striving for attributes that are not only top-notch, but are also distinct from other competing businesses.
Just be ethical, present your business in an honest manner, keep your USP simple and laser-beam focused, and prospective clients will then know why they should buy from you, and only you.
Check out these other articles for more information: Well I Should Hope So and People Buy Benefits, not Features
So, we’ve mentioned the importance of monitoring your marketing and we’re going to continue to do so because of its great importance. Otherwise, if you’re not monitoring your marketing, then it’s similar to throwing a piece of bait into the ocean without securing a line to it. Where did it go? What happened to it? You’ll be asking the same questions about your budgeting if you don’t keep a careful eye on promoting your business.
What’s one of the best ways to keep track of what’s working and what’s not with your marketing? Just ask. It really can be that simple. You should always have several marketing lines in the water, so if you get a new prospect or client, they could have come from any number of sources. One of the first things you should be asking them is “How did you hear about us?” or “Where did you find us?” You should also be sure to ask people via your website as well.
This method may not be earth-shatteringly new, but we just don’t see it that much on the Web or hear people asking us as much. Plus, you know the old adage, when we assume, it makes an ass out of u and me. Even if you’ve heard it before, its significance still bares repeating. By asking people how they found out about you, you then get a direct laser beam on your marketing. If after a couple of months of marketing, you find that 10 people found you through the local newspaper ad you posted, 50 people found you through the Internet and one person found you through your postcard mailers, what does that tell you? Dump the mailers and reallocate that funding towards your Internet and newspaper ads; with a majority of it going towards the more successful method.
We specifically suggested waiting a month or two before assessing your marketing because you should always be looking at statistical significance. Granted, statistical significance does sound pretty cool in a complex way, but it’s pretty simple. If you make an assessment after a week, then that hasn’t allowed enough people to see your add to make an accurate judgment. For example, at that point, you could have had one person across the board, which would have suggested that you keep investing your money equally in each marketing category. But as we saw after a few months, that would have meant a big waste in postcard mailers. So be careful about taking one set of numbers as gospel.
Speaking of statistics, you might gain a lot from a basic statistics class. Don’t worry, there’s no real brain teasers involved and you don’t have to be a true mathematician. What it will do is help you get a general grasp on the behavior and trends of numbers in your business and industry. From knowing what’s statistically significant enough to base your bootstrapped budget on, to knowing that correlation most certainly doesn’t always mean causation, a little extra education here and there will always help boost your business.
As a dedicated business owner, you probably spend much of your day focusing on how you can help your clients. Bravo! This is what you should be doing as a human being anyways, helping others as much as you can. However, some of us get on a path of helping others through our businesses and just keep rolling along with the same mentality. But as much as we applaud helping others, we also strongly suggest that you help yourself.
Along with your business, you also need to invest in yourself. A proper education will ultimately enable you to help a greater number of people to a greater degree. Think of it this way. Let’s suppose your current business is like Charlie from Flowers for Algernon before the procedure. The poor guy had a big heart and great intentions, but he couldn’t even beat a mouse in a maze. But afterwards, he was able to actually contribute to society. Not that we’re saying your business is mentally challenged, just that no matter how well intentioned your business pursuits are, you’ll always be able to offer a greater degree of help to others through continued education.
And if you’re one of those number-oriented people who goes to sleep by the sound of your ROI ticker, then your educational pursuits may require an extra degree of patience. Self-edification doesn’t always produce immediate, perceivable results, but trust us, your clients will see the difference and you’ll build their loyalty on a foundation of marble instead of balsa wood.
Besides, never before have we had access to so many experts and such powerful materials as we do now. From a full master’s program to a community college course, and seminars to certification courses, there are plenty of education avenues that will suit even a bootstrapped budget. And with the Web providing thousands of new articles on a daily basis, you can take the completely free route and hold yourself to reading one or two new articles every single day. Create a cranium-cramming schedule and put aside a certain block of time every day for your personal edification. To not keep up with what is out there is causing you to miss a lot of amazing breakthroughs. In addition, the trend has been that with the more knowledge we have, the easier things tend to be later on. If you put some front-end time and effort towards investing in yourself, then things will get much easier down the road, unless you regress like Charlie of course then you’re just plum out of luck.
The power of personal development is infinite. It’s amazing how set some of us become in our ways. Not necessarily in a stubborn manner, but because we become programmed to go on autopilot, functioning in ways that are familiar to us. We don’t even realize that we’re capable of so much more because we haven’t challenged ourselves in such a long time. Pursuing personal development open’s our minds to the limitless possibilities within us. Become a better you, and your bootstrapped budget will become a bad ass boot-up-the-competition’s-butt budget, or something like that.
Here are some of the programs that I am currently investing my learning dollars in.
This is a guest post from the very talented Patrick Walsh. Patrick has 20+ years helping big, small and bootstrappers like us see that our current marketing and advertising isn’t working for us as well as it should be.
His Company Map business Growth Strategy helps you to optimize your message in the three critical areas of business, you’ll discover the profit power you have, right now, within your business just waiting to be tapped.
When you make an advertising claim, don’t think about it in terms of coming out of your mouth; instead, think of it in terms of it entering your prospect’s ears.
When you do this, you will realize how ridiculous, non-compelling, boring and flat-out stupid much of the advertising you see and hear sounds.
What we’re trying to accomplish here is simple; we are going to discuss a common sense evaluation you can use to judge whether or not your ads, ads you’re spending GOOD money on, are any good.
Wouldn’t you like to know if what you’re writing and spending your advertising budget on is any good–before you actually spend the money?
The first evaluation you need to use is pretty simple. It is also, however, the one most likely to be failed. It is called, simply…
Well, I Would Hope So!
Whenever you say anything in your advertising or marketing, ask yourself if the prospect will immediately respond to what you’ve said with: “Well, I would hope so!”
To illustrate this; write on a piece of paper why a prospect would favor your business over the competition.
Then use the “Well I Would Hope So” evaluation and see if the answers hold weight.
Let me give you an idea by giving you some of the answers from other industries. A huge printing company gave as their number one reason to choose them over the other sixteen zillion other printers: “We help the non-professional print buyer understand the various options available.” Here’s what you should say to that kind of claim: Well I would hope so! You’re a printer! Isn’t that what you do? See how ridiculous that answer sounds?
An insurance agency claims in their advertising that “they’ll be there for you when you have a claim.” Well, I would hope so! What else would they say?
See how this works? Just read any headline or any claim out of one of your advertisements and then see if it spawns this response: Well, I would hope so!
These usual, lazy communicator claims, are like your barber telling you that your hair will be shorter after it’s cut, or the gas station telling you you’ll have more gas after you fill the tank.
Always, always, always use this important evaluation question whenever you make any claim.
Go ahead and take this test right now.
Answer the question: “why would anyone choose you over your competitors?”
Then honestly evaluate your answer against the “Well, I would hope so!” evaluation.
If you can’t come up with the answer instantly and articulate it well, you can bet that your customers don’t know why either.