PRACTICE MARKETING blog

At yesterday's 'New Marketing for Practicing Professionals' seminar yesterday (at the Nassau County chapter of the Society for Financial Service Professionals), I recounted how my client was exasperated at all the different parts of on-line marketing. I quickly mapped out the 3 on-line components necessary for any Branded Expert: newsletter <-> blog <-> status updates (with profiles). Here's how it looks:

I explain a bit of it in the seminar video.

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Last week, I was interviewed by Tim Healy of The Profit Express, an hour show on Long Island 88.7 FM WRHU. A 7 minute excerpt is on Youtube, and I just finished editing the full 42 minute interview:

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Have you noticed that many professionals spend a great deal of time and money on collateral literature? They hire a graphic artist and a copywriter to put their masterpiece together. They spend hours discussing design and colors.

The finished product is this four color trifold brochure. It tells the history of the business with all the services and features provided. This truly conveys a professional image that one is proud to hand out.

Have you ever received one of these brochures? I am sure that you have. Did this piece of work motivate you to buy? Did you read it from cover to cover? Most likely the answer is no.

You accepted it graciously and wanted to know how this service or product would make you money or save you money. Somewhere in the brochure it was mentioned but it did not stand out, nor was it compelling. In fact you never even read it before putting it on your desk.

If this sounds familiar, what has been accomplished? I call it collateral damage. The objective to grab the interest of the prospect failed and you are told that it will be read. If there is interest they will get back to you.

Your objective should have been to uncover the needs of the prospect and demonstrate what is in it for him/her. The hot buttons can only be hit when the prospect tells you what they are. Literature, though nice, does not accomplish the objective unless it is uniquely customized for the prospect.

You would be better served spending more time on relationship building; more time on presentation and discovery skills; more time promoting your expertise and less money and time creating pretty brochures that are about you. The result would be less collateral damage.

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We were discussing the "BENEFITS OF ASKING FOR (AND COLLECTING) TESTIMONIAL LETTERS" at a Rainmakers Roundtable we were doing at a law firm earlier this week:

1) Obviously, to show potential clients (prospects).
2) Also, to show your other partners and associates (to set an example).
3) To make your other marketing materials (e.g., websites) more credible and relevant.
4) To segue into asking for referrals.
5) As your client writes the Testimonial Letter they are branding the positive experience they had with you (they are more apt to remember and thus recommend you).

It is best that they write the Testimonial Letter, and not just sign off on it. But you can give your clients ideas: Instead of a simple "praise letter" that basically says "you did a great job, thanks"... Ask your clients to be as specific as possible, without revealing private information, for example:
"In one or two sentences, can you describe the situation you were in?" (adversity/aspiration/problem)
"In one or two sentences, can you describe what we did to help you?" (advice/action/solution)

"In one or two sentences, can you describe how what we did helped?" (achievement/advantage/benefit)

This simple template for an anecdote thus makes the Testimonial Letter more substantive.

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On Friday, one of my clients, Bruce Maasbach arranged a seminar for his circle of real estate agents. While much of the time should have been dedicated to a tactical, Web 2.0, Marketing Action Plan... my inspirational preamble was more valuable. First a mindset change, or a paradigm shift, has to take place for a Real Estate Agent to do business from 2009 on. Hear what I mean:

Three 10-minute parts will automatically be on the right-hand of the video above when I upload to my blip.tv account. With the poor lighting and zoom, the video quite frankly sucks. But my audio silhouette - with hand gestures - gets my points across!

VIDEO 1: I go through how the market has changed over the past 10 years.
VIDEO 2: I explain how ludicrous the real estate industry has been, and a brave new vision for them.
VIDEO 3: I talk about how real estate professionals can begin creating a new business model.

Originally, I had brought my projector, my laptop, with a PowerPoint... but there was no table for the equipment, screen (or white wall), and I'm sure WiFi would've been "too secure." I'm a speaker, not a presenter, so I didn't care.
LESSON TO BE LEARNED: I did bring hand-outs, which are low-tech and guaranteed to work.

What do you think about the new Business Model Vision I proposed for real estate agents/brokers?

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On December 16, I was invited back for a 3rd time to address the Preferred Providers Network of the National Network of Accountants. My topic included a worksheet that would help the room of CPAs, attorneys, and financial advisors to "Trigger More Referrals, with a catchy 1-liner." You can practice along, with the worksheet attached, and the video below. Better yet, add your 1-liner below in the comments. (The video seminar brightens up after about 15 seconds.)

I introduced our Community Hexagon™ to the room. Many had been to a previous seminar (Target your Market to the 4°), which went over the Community Dartboard™. They are similar concepts - in that they outline the 6 facets of a "community," a like-minded demographic that shares lifestyle aspects that encourages culture & identity. It's not so esoteric: Dog lovers and trial attorneys are sub-cultures, that is, they share all 6 facets of the Community Hexagon™.

Likewise, we can take the more-general community of pet owners and the community of professionals and go to the "4th degree" in the Community Dartboard™. By doing so, we would be able to check-off all 6 criteria on the Community Checklist™ with which the worksheet begins. How far can you go on the downloadable Worksheet? Does your target market meet all 6 facets that would make it a Word-of-mouth buzz-friendly group?

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Are you getting any comments from prospective customers like “our budgets being slashed”, or “It’s not in the budget”? I will paraphrase Jeffrey Gittomer: “Why are you selling to the person that has to go ask Daddy for the money, when you should be selling to Daddy in the first place?” It’s an abrasive, but I believe, valid point.

Here’s how it works; The principle or CEO sees a possibility & an idea or belief of what it will take to improve her/his business from YOU (salesperson/consultant/trusted advisor). He/she then delegates/introduces you to the Director of _______, with accompanying words of encouragement and/or direction to explore what you are suggesting & see if it will work for them. If there’s a strong potential fit/synergy/ROI, then surprise – surprise, money/budget that didn’t exist for the Director of _______, suddenly & almost magically becomes available.

I’ve personally sold millions in products & services by bypassing the entire decision chain, and speaking directly to the person that holds the proverbial purse strings. Most of which were never “in the budget”. Warning – it requires dedication to effective & creative marketing, not to mention strong & clear communication skills to get and keep the ear of the decision maker. Also, it’s not often you can even get there at all - through the “normal channels” of bureaucracies, management ego’s, and gate keepers that are so prevalent in mid-sized and larger organizations.

I assert that effectively reaching & engaging with the prime decision maker requires a whole new level of commitment, one beyond what most of us have ever experienced. A commitment to a cause, to making a difference for a client, their employee’s, and their customers. A commitment to add real and tangible value. This absolutely has to supersede your desire to “make the sale”. The $$ comes as an effect of your commitment to your cause and to your client, not the other way around. Take a stand (as in “stand out”) for something both you and your target markets prime decision makers both care deeply about. That’ll get you on their radar screen!

Lastly, it takes a commitment to leveraged, effective, and consistent marketing & branding. Consistent “value first” marketing that uses a web of channels, clear value driven collaterals, and consistent touch points to convey the most valuable thing you have to offer – your cause/what you stand for - Your Personal Brand.

Mark Bullock
Partner – Practice Marketing Advisors
www.PracticeMarketingBLOG.com
www.MBullock.com
 

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I recently received an unsolicited email “Newsletter” from a well intended but misinformed motivational speaker. It was sent TO: me from an MS Outlook account, with 70 or so other recipients plainly listed in the TO: field as well. Effectively distributing to all the recipients - all the other recipients email addresses. The “Newsletter” was in the form and attached PDF of a scanned, blurry, & tilted paper document. Additionally there was no obvious or automated way for me to “Opt-Out” from future emails.

Aside from the unwelcome intrusion, and a chuckle about how unprofessional and ineffective their email marketing campaign is, I was struck by the total ignorance by the well intentioned sender that what they had done is called Spamming, and it’s illegal. So I wanted to share with you a couple of nuts & bolts tips on how to avoid making a similar blunder.

1 – Don’t use your desktop email program for bulk email – EVER (no, don’t just use BCC to get around the TO: field problem, because it doesn’t always work). Get an automated & compliant email list management service like Openmoves Email, Talkware Media, or even Constant Contact. They’re cheap, easy to use, will give you valuable tracking & feedback or your email campaigns, and most importantly – they’re CAN-SPAM Act compliant.

2 – Compose your emails for delivery as both HTML & plain text. Most of the services above will automatically deliver which ever format the recipients email program will accept. What ever you do, don’t include an attachment. This will almost always get your email either rejected or un-opened (unless you are a “trusted” sender for that recipient). Alternatively you can include a link (Web address if in text) for readers to follow to get a PDF or other document from your Web site.

3 - Always include an “Un-Subscribe” or “Opt-Out” link at the bottom of both versions – it’s the law folks, just do it.

4 – Use the automated tracking features of your chosen service to see who’s getting it, who’s opening it, who’s forwarding it, etc, and who’s not. Process your blocked and/or returned email so as not to get blacklisted by the email Spam Gods.

5 – Once you have all of the above figured out, now you can put an “Opt-In” form on your Web site or Blog for people to subscribe (permission marketing) to your content. The form is linked back to your email list management service for automated processing (Auto-responding) – but that’s for another post.

Mark Bullock
Partner - Practice Marketing Advisors
www.PracticeMarketingBlog.com
www.MBullock.com

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The cost of acquisition of a new client can be very high, both in $$ and your resources and yet the typical practice/firm puts out 80% of it’s marketing effort towards acquiring new clients and only 20% on existing clients. Marketers in the know – know you should reverse these percentages. The fact of the matter is you’ve already made the investment to reach your existing clients, develop a trusted relationship with them, and proven your value to them. – But – do they know how else and in what other ways you can serve them going forward?

It’s crystal clear in this market place the value of branding yourself as a specialist. But that doesn’t mean you can’t capitalize on more general or other specialist opportunities with existing clients as those opportunities arise. And frankly – why not create those opportunities in the first place?

Here’s a couple of quick samples:

1. Some folks are uncomfortable referring others, or you may be uncomfortable asking for them. So how can you always follow the marketing thumb rule of always ask for referrals? Here’s the secret – Don’t ask for a referral – ask for an “introduction”. After confirming your client is happy, simply ask if they know anyone they would be willing to introduce you to. Make sure you are willing to give away an initial meeting to advise or council. This is a much softer sell, and far less threatening request than asking for your customers to essentially “sell” you to their friends & associates.

2. Add every client to your ongoing follow-up system. IE. your email/snail mail newsletter, your seminar or event invitation schedule, your promotional invitation schedule, copies of any and all press you receive, etc., basically any and every chance to stay in touch. Also, don’t forget to invite them to any fund raiser / charity events you sponsor, golf outings, trade show’s they may enjoy, etc.

3. Lastly, consider developing a small & affordable, value driven, maintenance/update program. This could be a yearly Will review, or a bi-annual financial planning review, anything you can turn into a retainer and/or recurring revenue that keeps you top of mind and creates ongoing value for your existing client base.

The above are just a handful of ideas. Fact of the matter is, it’s no secret that expanding the lifetime value of an existing client, and farming regular high value referrals is not only a huge boon to your bottom line, but much more cost effective and productive that constantly chasing after new clients through traditional advertising means.

For another effective habit on getting referrals watch this video:

Referral Marketing - Planting Seeds

Mark Bullock Partner/PMA Practice Marketing Advisors www.mbullock.com

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When I work with clients, our relationship is forged on what I call "The 10 Basics." It is what it sounds like. And even seasoned professionals have to go back to the basics once they are serious about marketing their personal brands. One of these basics is their "Marketing-friendly Bio." Some of my clients have a CV (curriculum vitae) or resume; but most have to dust it off.

Don't worry about the past. Start from scratch. We don't want a boring litany of professional moves. As a practicing professional, your Marketing-friendly Bio should show-off your expertise, experience, and enjoyment. I've attached a template of 7 thumb-rules, with my own bio as an example. More importantly, erase what I wrote, and brag about yourself.

Remember your professional codes of ethics and what compliance/legal wants to see. Name-drop and use "keywords" your target prospects would catch onto. Moreover, let the star within you shine!

(This is a wonderful exercise to do with your networking circles. Learn how to brag about one another.)

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Last Thursday I was invited (again) to be the final speaker in this season's series of business seminars at the Half Hollow Hills library in Dix Hills, Long Island (NY). I've attached the handout I used - feel free to print it out and follow along this full seminar! Ask your questions as comments below.

You may notice the handout is missing "Question 14" - or really the second worksheet... The Marketing CheatSheet™.

Well, if you want to know EVERY marketing channel & collateral for traditional AND on-line marketing --> Order an audio-book (or my NEW TEXT BOOK, 365 Marketing Thumb-rules™) and I'll give you the Marketing CheatSheet™ FOR FREE!

In the meanwhile, use the worksheet along with the video seminar and grow your practice to the next level... post questions/comments by clicking Comments below.

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Nowadays, a 30-second elevator pitch is way toooo long! Worse, our prospects, referral partners, and centers of influence can barely remember all of it. Even worse, we rarely can remember our whole 30-second "elevator pitch." And when we do, it sounds too canned!

Rather, by perfecting our catchphrase, we'll have a Short, Memorable, Appealing, Repeatable, and Timely one-liner or headline that our targets will use to recommend us. A catchphrase headline then becomes the predominant theme tying together all of your marketing collaterals, including your business card, 1-pagers, tri-folds, websites, and conversation starters.

In this live video with over 50 lawyers, real estate professionals, accountants, bankers, and financial advisors, I walk you through Perfecting Your Catchphrase.

The audio-book Sales Momentum goes into more background why it works and how you can use your Catchphrase to close more deals, more quickly.

CLICK THE "E-BOOK" LINK BELOW TO DOWNLOAD THE .PDF WORKSHEET FOR THE VIDEO SEMINAR.

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I usually put cool web-based resources and tools in my "cool web resources" area - located on the lower left of this blog. But this tool takes the possibilities of our image-based branding to a whole new level. As someone who often helps edit and enhance images, this web-based image editor is impressive not only in its results - but in its innovative process:

It's hard to fully explain what Rsizr (as in "resizer") can do for your photos. Their blog image gallery (cool layout, btw) quickly shows the possibilities.  I appreciate the behind-the-scenes video (below) that shows HOW this technology works! Sometimes when new services seem "too good to be true," or seem "just like" something else, it's good to get a little technical.

I hope the mumbo-jumbo doesn't throw you, but rather illuminates how innovative this tool can be for you. I haven't yet played with this, since I just learned about it through the Mashable blog. But I am already imagining the possibilities of this web-based image editor. It could use a better help function, but with a little practice, you (or your assistant) should be able to use this amazing image editor.

If you do play with it, please link your own gallery here for us to check out. Together, everybody achieves more.

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I learned about this through the Mashable blog post:

Widgetbox - home of my own 'blidget' (which allows you to embed a blog widget of my recent posts) has created a simple Facebook application builder: The App Accelerator. Whatever you can create in HTML, including Flash, can be converted into your very own Facebook application.

A few months ago, Facebook opened up its network to any software developer to help its users customize their on-line community experience. Since then, we've been flooded with ways to express ourselves, test our personalities, give each other cutesy distractions.

And now you can join the fun. Facebook applications are naturally Pollen (aka, viral). While you can create your own blog-widget Facebook app, a more user-centric (and self-expressive) opportunity would probably take off faster.

I haven't yet experimented with it.. but I plan to! Tell me what you're creating, and I'll be sure to add your glitter to my Facebook page.

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What's the biggest objection given to you by prospective clients?

What's the biggest misconception or stigma about your service, product, or profession?

What's wrong with the dominant professional (famous celebrity) in your field?

They're thinking about it whenever you sit on the other side of the table.  Even if you don't bring it up, it's looming in the back of their mind.  You don't have worry about it.

You can turn objections into your best personal brand marketing tool! Listen to the podcast and discover how I helped 2 professionals dance with the 800 lb. guerilla in the room!

Tell us about the biggest objection, misconception, or myth folks around talking about ... behind your back.  Show us how you flip it to your favor.

HINT: This is an example of how to use Buzz Stream #6, as featured in the audio-book INSTANT BUZZ.

Listen Now:

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