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Build credibility and rapport
When you first get the chance to have a conversation with someone in anything that might turn out to be a business context, there are several important things you must establish extremely quickly. You need to start building credibility and rapport; you need to start allowing the other party to decide whether a 'relationship' with you might be of value to them. You need to be 'interesting' and 'interested'!You need to start building credibility and rapport.
You need to be 'interesting' and 'interested' for this.
Train your sales team
When this rapport has got off the ground, you may need to start 'training' this possible member of your 'surrogate sales team' to spot others who may find knowing you of value. The ability to do this part clearly and succinctly is often referred to as an Elevator Pitch."An elevator pitch is an overview of an idea for a product, service, or project. The name reflects the fact that an elevator pitch can be delivered in the time span of an elevator ride (for example, thirty seconds and 100-150 words)." - WikipediaStart training your 'surrogate sales team' to spot others who may find you of value
Where to start?
Before you can start constructing and refining your elevator pitch you must have the following information available to you about your business.- Who is your ideal customer?
- What problem do most of them have?
- What pain(s) does having that problem cause?
- What good does your customer get out of what are you selling?
i.e. How does no longer having the pain make them feel? All the ways! - Why do your customers choose you, and not one of your rivals?
All the ways!
Note which of these are singular and which are plural!Just one ideal customer type should be defined purely by information in the public domain. For example, there isn't an SIC code for companies with cash-flow problems! We all know you can work with other types but you have to pick one at a time.Their biggest problem is unlikely to be voiced at first, but finding and fixing this will remove their pains far more effectively than merely relieving one 'symptom'. Understanding their symptoms will lead you to your diagnosis of the underlying 'disease'. It will take a conversation with an individual to discover whether or not they display these symptoms.Define your ideal customer by public domain information.
It will take a conversation to discover their symptoms.
Size matters!
Now you can start to construct your 'Elevator Pitch'. In fact I believe you need several elevator pitches: 60 seconds, 30 seconds, 1 breath, 1 word or phrase - all have their place.Practically you'll have to start long, then distil and refine. You just won't get it right starting short and trying to expand. You'll need to test and measure to see if your messages are coming across, and being received and understood. Get a friend to ask someone what you do!If you are a regular networker, you may feel the need to vary your pitch so you don't seem repetitive, but this risks confusing your listeners. Getting the one-phrase version right, and then using this every time as an 'Anchor', you become known for that phrase, people aren't confused, and you can safely ring the changes.You need several elevator pitches: 60 seconds, 30 seconds,
1 breath, and 1 word or phrase
A helping hand
One possible template for a longer elevator pitch is:
"I work with (ideal customers) who (widely held problem) which means that (widely suffered pain). I help them (pain relief) so that they (life without pain)."An alternative opening might be:
"You know how (ideal customers) are always (widely held problem) which means that ......"Go on! Give it a try. Confidence come from practise, not further study! Use the one-breath version as your intro on cold calls too, for instance.
Both of these ideas steer miles away from:
"I am (what it says on the second line of my business card). I can do (a list of all the things you ever have or ever might have done)." Followed by the unspoken, "What do you think?" Or more likely, "No, please don't walk away from me. Surely you can't go and find someone more interesting!"I work with (ideal customers) who ...
I help them (pain relief) ...
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At some point, every single one of your customers was totally oblivious to your existence and to the products and services your business provides. And I hope you will agree with me that your best customers are those who not only buy a lot from you, very often, but who are also active members of your 'surrogate sales team'. If you could get more of the 'oblivious' to become 'sales team', that would be good wouldn't it?If only there was a clearly defined, well signposted route available to them, don't you think that many of them would get a long way down that path? By understanding the sections this route needs to have in its construction, you can make it easy for them to do so.The first thing is to register on the prospective customer's senses, to achieve consciousness. You need to provide several means by which this first perception can happen, and you should be doing so in places where you know your ideal customers are likely to be. You can't expect them to come to you at this stage.Next, the prospect has to have a better acquaintance with you and the things you can provide. This could be provided by the other 'consciousness' messages which they happened not to come across first. Equally it could be the repetition of a message. In either case, the prospect will not start to absorb your messages until they have this acquaintance with you.Now, with prospects very aware that they know of you and are familiar with you, they are in a position to absorb what good they will get out of doing business with you and what sets you apart from your competition, your distinctiveness. If you try to ram your messages down their throats before they have arrived at this point, your efforts will have been wasted. And 'ramming' is unlikely to be productive at any point!Now the prospect has an interest in possibly purchasing from you, and you need to make sure there is a simple and obvious means for them to communicate this interest back to you. All the previous effort will be wasted if the prospect has to 'jump through hoops' in order to indicate that they'd like to know more.The fifth step is to convert their interest into an initial sale, and for now all I will say is that this is a subject of its own, and that yet again there is not one fixed 'one size fits all' mechanism for doing this.Having bought from you once, you will be trying to get the customers to buy from you again, to gain repeat business from them. As before, there will not be just one single tactic that will work on every occasion.Maybe after their first purchase, or maybe later, you would be hoping that your satisfied customers will be letting their contacts know how good you are and how pleased they were to have used you. To achieve this you must not neglect the need to provide the means and the encouragement for them to do so. In other words you need to recruit them into your sales team and then 'train' them.Several things now become apparent from this route from 'oblivious' to 'sales team'. Firstly, that it is actually a circular path, because the activities of the 'sales team' will introduce previously 'oblivious' new people at the 'consciousness' level. Secondly, that enabling a prospect to journey through consciousness, acquaintance, distinctiveness and the cultivation of interest is Marketing; from interest to sale and to repeat business is Sales; and that through repeat business, sales team and full circle to new consciousness is Marketing once more.Thirdly, the three 'mores' of growing a business can also be mapped onto these ideas. The first part of Marketing is getting more customers; the early part of sales can also focus on getting them to buy more; and the later overlap of Sales and Marketing to achieve repeat business can also encourage buying more often.Out of all these thoughts is born your Sales and Marketing strategy!Calling all UK-based businesses. Discover how to get a FREE review of your Sales and Marketing activities.
Talking about MPs [We were, weren't we? At least here in the UK just now!], some years ago one of the major parties tried to help its newly elected Members of Parliament by issuing them with a template for a maiden speech.
Knowing that even to appear on a ballot paper requires pragmatism, common sense and intelligence, the covering note reminded timorous new Members to insert the name of their own constituency in the gap!Fortunately, better advice is available for the rest of us, and politicians too if they choose to look for it! Making a 'maiden' speech to any audience of speakers might feel terrifying, but they will all remember their first time and will be willing you to succeed.If you appear in front of them and start off by apologising, they'll expect the worst. Don't be too hard on yourself. We all have things we don't like about ourselves, but the reality of public speaking is that the audience doesn't see them. So, harder as it is to do this than to say it, RELAX!Know your subject, and know that the audience are interested in hearing about it. Be passionate about it, and know the details. If you're asked to speak about something you don't know about, learn about it!Never, ever waffle, apologise or thank people for listening! Too many speakers open with self-deprecating remarks. Sure the best person to tell a story against is yourself, but not right at the start! Without words, your body language is capable of committing the same sin. So don't come on cowering and trembling, saying "I don't really know why they've asked me. I'm not very good at this." Take a few deep breaths, walk on stage looking confident, and smile. Then, by way of a good, relevant introduction which grabs your audience, get to the point!The first few seconds of your speech are crucial. You have to grab the attention of your audience, so how can you do this? How can you gain and keep their attention? Firstly, engage your audience. Some ideas for doing this are:- A question to the audience
- An amazing statistic
- A comparison between two unrelated things
- A promise to reveal a secret
- An amusing story
Whichever you do, and I'm sure you can think of other ideas of your own, you need to make them think. Within your 'introduction' you should also be telling them how long your talk will take, why they will enjoy it, and what they will get from it. Then tactfully tell them that they will receive that value only if they pay attention to you right to the end.Learn from other people's speeches, and everyday conversation. Analyse what people do to get the reactions you seek. For example, groups of three ideas have worked well for a very long time, and still do; from "Faith, hope, and love" in the New Testament, to "Education, Education, Education" in the 21st century.There is a difference between written and spoken English so don't try to speak an essay, and don't try to convey too much information. The written word is good for communicating details, but speaking much less so. And keep it short and simple! The full St Matthew version of the Lord's Prayer is only 66 words!Weave imagery and anecdotes (your own!) into your speeches. Imagery
pre-dates writing and continued apace whilst general literacy levels were not high. Coats of arms and mediaeval inn signs are examples which survive, but parables and fables were once the only means of preserving knowledge.
Yet again, keep the anecdote short and simple. The parable of the Good Samaritan takes only 165 words!The ability to ad-lib, or speak "off the cuff" is often seen as an enviable skill, but look at the literal meanings of these phrases. Ad Libitum translates as 'to the freest extent' or 'as much as one desires', and your shirt cuff is where you might well have written carefully researched and abbreviated aides memoires!. So actually we are claiming to admire both long and rambling and carefully scripted speeches! Over-confidence in your ability to 'wing it' can lead to an aimless, pointless speech with no clear structure and no clear message.Calling all UK-based businesses. Discover how to get your FREE Sales and Marketing coaching taster call.
What does it mean to shoot yourself in the foot? Is it that you're not just aiming too low, you're aiming so dangerously low that your foot is in the sights as you pull the trigger? Or is it what the military call a 'negligent discharge'? Have you accidentally pulled the trigger while your gun is still in its holster, muzzle downwards?Whichever you prefer, the common thread is carelessly, stupidly, naïvely doing something that causes you pain and delay, and does you more harm than good.I have come across many examples of businesses shooting themselves in the foot, so I thought I'd list some pitfalls for you to recognise and avoid. You can imagine a (falsely) reasoned argument in favour of each of these. I believe the counter argument carries far more weight in each case.- Selling to the wrong people
Don't push your business on everyone you meet! Know how to identify your ideal customer. It's a waste of time trying to sell to people who simply don't need what you're offering.
- Selling the wrong product
Don't assume all your ideal customers want what you are selling! Even if you believe they need it, they have to want it before you can sell it to them. It's a waste of time trying to sell to people who don't even need what you're offering.
- Forgetting your Unique Selling Point(s) - USP(s)
You must offer more than just items of value to the ideal customers. You must give them good reasons to buy from you rather than your competitors. You must consistently tell them why you and your products are uniquely placed to help them.
- Failing to focus on value creation
Customers only want to buy from you because the value they get from the purchase far outweighs the value of the money they have to part with to do so. If you don't create value for them, in their minds, they will see no need to purchase.
- Haphazard Marketing
You need a Marketing strategy that covers all areas of the customers' long-term relationships with your business - From them first finding out you exist, to them telling all their friends how good you are!
- Ignoring the only three ways to grow a business
Getting more people, to spend more, more often - These three 'mores' are the only three ways to grow a business. You must balance your efforts to increase each factor according to your market and the needs of your business.
- Ignoring repeat business
The third 'more'! - You need to keep your customers aware of your existence, and have the 'more' there for them to buy
- Ignoring Up-Selling
The second 'more'! - You need to offer products or services that are complementary to the things the customers initially wanted to buy
- Only advertising when you need Customers
The first 'more'! - This is the one people usually focus on to the exclusion of the others. "We need more sales so how can we find more new customers?" Advertising isn't the only form of promotion, and promotion should be an on-going activity.
- Not tracking results
Not even the 'experts' can accurately predict what will work for you and what won't. You have to test and measure each Marketing activity. You have to know what produced what. Then, if it doesn't work, drop it. But if it does work, do more of it!
- Not following things through
If you're like most, you'll have many, many things you'd like to try. Don't waste time and money starting something that you can't follow through.
- Running an advert only once
If you fix your 'haphazard Marketing', you'll be aware that people need to be given several opportunities to fully absorb your messages. If your promotional activity doesn't produce results first time, it's probably never been given the chance!
- Copying the Competition
Do what you need to do because you know that you need to do it. Believe me, all your competitors could easily be making the same foolish mistake! Quite possibly because they all followed blindly!
- Trying to save where it counts
Don't try to save money in places where it shows. When it comes to what your customers can see, you should spend whatever it takes to get everything looking right.
- Spending too much money, unwisely
Your business should put cash into your pocket, so before you invest money into it, be clear on how you're going to pull that cash back out again
- Spending too little money
Equally, don't be miserly and don't let frugality get in the way of efficiency. Take advantage of skilled outsiders who can do certain tasks more efficiently than you can.
- Going against your intuition
While you might think that logic is the language of business, that's far from the truth. If you base all your business deals on hard logic and ignore your intuition, you'll get hurt!
- Being too formal
Business is built on relationships and human beings don't want to build relationships with faceless corporations. They only want relationships with other human beings, so build rapport and relax formality as appropriate.
- Failing to optimize
You can't simply focus on creating value, and imagine the rest will take care of itself. As a business owner, you need to find a way to deliver your value in a cost effective way.
- Not collecting your money on time
Collecting money from people can be hard, so collect a substantial portion of the money first before you provide anything. When it comes to debt-collecting, if you act like you don't need the money, you'll never get paid!
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My advice to anyone asking about a sales presentation would be, don't do it! What purpose do you think it will achieve?Why would you ever need to make a sales presentation? If you don't yet understand inside-out and upside-down the prospect's fundamental problems and the circumstances in which they exist, how can you possibly know what to present?And if you do understand, it's not a sales presentation, is it! You will be presenting your suggestions, your proposal, won't you?Yet many thousands of words continue to be written on the subject of sales presentations, by well respected people in their books and in well respected publications. Just looking recently at a small number of articles on this subject revealed some amazing things.I find it frightening that this stuff is being broadcast to sales teams as state of the art, immutable fact, under the banner of professional bodies who claim to represent these teams' interests. Within the 'sales advice' community there seems to be this continued fixation with:- Giving sales presentations - Generally involving PowerPoint or something similar
- Having a 'one size fits all' sales presentation, yet one that is flexible
- Letting specialist outside companies produce your sales presentations
Authors identify the five situations where they feel you ought to want to give a sales presentation:- In meetings with buyers
- In corporate account presentations
- When helping your 'customer champion' to convince their colleagues
- At events where 'customers' gather
- As a response to a request for information!
The advice seems to be grouped into four categories:- General Advice
- Detailed Advice
- Presentation Design
- Detailed Design Steps
My own reactions to all the points raised can be summarised as one of:- Hear, hear! - because I agree
- Why? - because I don't believe they've justified their assertion
- Amazing! - said with huge irony
- Well, yes! - said with almost as much irony
- Expletive deleted! - said in genuine amazement that anyone could still think that way
Let me give you the detail on the first two.General Advice- Your presentation must be flexible - Repeated ad nauseam - Amazing. So why try to have a one size fits all?
- Cover your scope and capability - Why? Surely it should be about what the customer will get out, not what you can put in!
- Use a specialist presentation design company - Why? Apart maybe from graphic design and PowerPoint coding, shouldn't your sales and marketing team be well enough skilled and well enough trained to write the copy themselves?
Detailed Advice- Keep it to 15 slides so you don't bore the audience - #ED! And 15 won't?
- Think from the buyer's point of view - Amazing! Is there any other way?
- Don't just blow your own trumpet - #ED! Words fail me!
- Start your presentation by describing the state of your marketplace - Why? What interest does the audience have in that, that they aren't aware of already?
- Get an early agreement on something, anything - Hear, hear!
- Use your smartness to create a pleasant surprise - #ED! And being a smart-arse is the way to build lasting, win-win relationships?
- Convince the audience by showing what you can deliver - Well, yes! But if, and only if, what you deliver is being described in 'value to the customer' terms - which is quite a different thing from benefits - and is pertinent.
- There is often too much focus on what the salesman wants to say rather than on what the buyer wants to hear - Amazing! And yet you're still trying to push the idea of a sales presentation!
- The salesman is trying to promote change and all change is risky - Hear, hear!
- Few sales presentations actually address the senior decision makers - Amazing! You could never guess they would be involved in the decision making, could you!
- You don't need to be the biggest or the best to win - #ED! You don't say.
- Linking content to customer outcomes gives you the ability to quote higher prices - Why? Linking content to outcomes allows the buyer to see the value, and thus see the return on their investment!
- Your audience is under time pressure and is inwardly focussed - Well, yes! So cut the crap and get them to admit the value outcomes to themselves!
- Only present when you've established a potential need - Amazing! Unless there is a full-bore want, why waste time on a presentation?
- Your presentation should turn 'need' into 'desire' - Amazing! And there was me thinking your 'conversation' should allow the 'prospect' to do this for themselves!
- Research your audience and their business requirements - Hear, hear! But do use the best source for that information - Your audience!
- Address the concerns of each member of your audience individually - Well, yes!
- Hone your abilities at handling supplementary questions in the Q&A session at the end - Well, yes!
- Spread enthusiasm and take your time - Well, yes!
There is another way, a better way. If you recognise yourself or your organisation in any of these, please allow me the chance to talk to you and start to explain that there are other ways.There's lots more advice like this in my regular bulletin. Get your FREE copy!
There are many ways to build a better reputation and great relationships. It's probably true that it takes less time to destroy them than it took to build them, and it may well take even longer to re-build them. We tend to notice these 'many ways' most readily when they go wrong in a big way, but often we are doing ourselves and our chances no good at all in small ways yet we don't realise we're doing it!Communication
In our conversations and written communications we might be guilty of being patronising by asking lightweight, rhetorical questions at which the other person takes offence. Even something as simple as, "Would you like to save time and money?" could be seen as patronising.Then, our more heavyweight questions might be seen as too aggressive. For example, "Are you sure you're getting it right every time?"Many people dislike undue familiarity too soon in a relationship. Using people's Christian names without even unspoken permission can set them against you, and they almost certainly won't tell you directly why they've now gone cold towards you.Another gaffe to avoid is the use of highly dated clichés. It just shows you've only learned what you know from a textbook, and you couldn't be bothered to buy an up to date one either! This applies both to 'Sales speak' and to 'Adviser- or Sales Manager speak'. Who wants to read, let alone hear, "And that's not all. Just wait and see what else our product can do for you" or "Remember, people buy from people". The thoughts may be correct but please, craft your own version of the message.It is easily possible to get somebody's back up by being assumptively critical, so don't. "You too can have an apartment in Monte Carlo like mine," isn't the best thing to say. And putting people into categories when it's obvious you've had no prior contact doesn't do you any good at all, even if it's based on public domain information. "As someone with two outstanding County Court Judgements against you ..."Reliability
As well as in conversation and communication, another sure way to damage your reputation is by being seen to fail to deliver on promises you have made. I have already explained elsewhere that the making and keeping of promises is an essential part of building people's trust in you. If you behave like that before they're paying you, how much better will you be once they start? And conversely, if you keep breaking promises before they start paying you, how likely is it you'll change your behaviour once they start?The problem is that the apparent breaking of a promise can often be the result of the two parties having a different interpretation of what the promise actually was!At its crudest, there are three elements to a promise. For the sort of small promises I advocate you make and keep - actually I recommend you 'trade' them - continually, much of this doesn't require to be written, but it's still a good idea to make sure it is understood in the same way by both of you.A promise generally consists of three elements, and it's essential to agree on these at the outset.- Deliverables
- Payment
- Timescale
I believe deliverables are easy, but then my degree is in Engineering! In that world there are some simple rules:- If you want it, ask for it
- If it isn't in the design specification, don't be surprised if it isn't delivered
- The specification should be a list of 'questions' not 'answers' - You're paying for the 'answers'!
- If the form of the 'answer' is that important to you, it should form part of the 'question'
Going back to Henry Ford's quotation, don't ask for a faster horse if what you want is to be able to get 300 miles from Chicago to Detroit in just one day!
However, if you want to win the Derby, then ask for a faster horse!Another thing that needs to be agreed up-front is how both parties will agree that the deliverables have been delivered - the Acceptance Criteria. As I said, with very simple promises it's so easy it doesn't need writing down. "I'll call you tomorrow at 10:30," contains the design specification, the acceptance criteria, the payment and the timescale. But with more complex promises, failing to agree on the acceptance criteria at the outset leaves you open to a game of, "Oh yes I did - Oh no you didn't."Agreeing the payment seems to be fairly simple once the deliverables and acceptance criteria have been agreed. But, if you get into a negotiation, take a little care. You may have to adjust the 'package' in order to reach a mutually acceptable 'price', so don't forget to feed back these adjustments into the specification and acceptance criteria.So far, so good, but when we get to agreeing timescales, especially short timescales on more complex promises, things can get heated and emotional, if allowed to. Only one person can control your use of your time, and that's YOU! And it follows that you cannot control other people's use of their time.
They must do it for themselves.On a complex promise, you need to get 'buy-in' from the rest of the team when it comes to timescales, and this must be done in an atmosphere where everybody feels free to say, "I just can't do all that you are asking within the time you are suggesting."Have a great reputation and satisfying relationships.Calling all UK-based businesses. Discover how to get your FREE coaching taster call.
Of all the sins a writer or speaker can commit, which is the worst? Is it resolutely steering well clear of the subject indicated by the title or headline? Is it being patronising, insulting, embarrassing, obscene, racist, or in some other way not politically correct? Is it communicating entirely in jargon, which might just as well be an obscure central Gondwanaland dialect for all you can understand?Whilst I dislike to a greater or lesser degree being on the receiving end of any of these, I believe the biggest sin is that of being downright BORING!Some research in the UK a few years ago showed that Engineering students had a higher boredom threshold than Psychology students. Of course that wasn't the published conclusion, seeing that the research was carried out in the Psychology department of a leading British University! What was claimed was that Psychology students "had a more highly developed social awareness"! A highly measurable quantity, undoubtedly!The actual 'yardstick' used in this research was to secretly observe the students and count how many times each one yawned! People have earned PhDs for this sort of stuff, you know!Maybe there's room to create a new international unit, the 'Winch', as a measure of boredom, equivalent to one unprovoked yawn per minute. I say unprovoked because we all know yawning is highly contagious.Do let me know your thoughts.So, given that you might well end up writing for or speaking to, people who are more psychologist than engineer, how can you avoid being BORING?Maybe you can adopt the principles I used when writing this piece.- Know/consider your audience/readers. The top tip is to make sure it comes across that you, the writer/speaker, care about the subject. Think about what the subject really means to you. If the answer is nothing, you may want to question whether or not to write the article or give the speech.
- The second tip is to ensure that you are writing or speaking this in the certain knowledge that the audience cares about the subject. This is a simple extension of knowing your audience but knowing extends much further than simply knowing in which section of Yellow Pages they can be found!
- Ask the audience/readers a question, read them a quote, or tell them a story - whichever it is, be pertinent. Engaging your audience in some way helps them to feel involved, which is a good way of minimising their boredom. If you are giving a speech, it is a good relaxation technique for you. After all, once you have handled the random answers they may give to your question, you can steer the talk back to where you want to be, confident that you now have a 'downhill ride' to the end. And if it's not really the occasion for audience participation, even a rhetorical question can get them thinking, and so being less bored.
- Be creative - combine different media, or mix and match long paragraphs, short paragraphs, prose, speech, and bullet points - but don't get 'typeface diarrhoea'! Change for change's sake is distracting and thus boring, but monotony is also boring! Literally the word means single-tone, but common usage has invested it with far more of the 'boring' than its origin would suggest.
- Use 'white space' - pause, literally or metaphorically to let your words sink in. You need to breathe as you speak, but people also need to 'breathe' as they read and listen. Give them time for the mental 'action replay', so they can understand and follow you more readily.
- Think of the 'big picture' - You will be aiming to get the audience or readership to 'do' something, so make sure you lead up to it. A 'lead in' without a 'call to action' is just as bad as the unexpected surprise of a call to action without a lead in. In neither case will any action get taken!
- Use humour if it (the situation) is appropriate and if it (the humour) is appropriate. Humour can be a valuable aid in making a strong point but don't 'recycle' the humour. Tell your own stories from your own experience - They're harder to steal for a start! - Write and speak from the heart, and if the real you is humorous, this will come through. No stand-up comic would ever say, "I've got this really great joke", so why should you.
- If you're actually giving a speech, be confident - Most young children are confident public speakers but then later something goes wrong! One way back for adults is to practise. Confidence comes from practise, not further study.
- Above all, be yourself!
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I am sometimes asked what is the one most important thing to get right in Sales and Marketing. Is it my logo, my website, my brochure? Is it my database, my networking, my web presence? Is it my negotiation skills, my contact management system, my objection handling?In my experience, the one thing that stands out above all others - and this view is being continually reinforced - the one thing upon which all the others are built, is this:You absolutely must be able to articulate clearly and succinctly what you do, who you do it for, and the good they get from it.This is sometimes called an Elevator Pitch, and is often done poorly. But really it is easy to do it well.Other people must be able to recognise one of your ideal customers, either someone they know or maybe even themselves. If you can't or don't provide them with a definition against which to make this judgement, how can you ever expect them to find anyone for you? And you must be as specific as you can. How can we pick just one or two if you say you do anything for anybody and you're diversifying?You need to define your ideal customer in terms that require little or no initial interaction. What I mean is, if you say your ideal customers are 'worried about their cash flow', I doubt anyone would discover this without talking to them. Whilst this knowledge is important, and I will return to the thought in a moment, you need to communicate 'search criteria' that rely on information in the public domain. So, working with 'accountancy practices of up to thirty partners', would fit the bill nicely.Not all of your ideal customers will need your products or services every day of every year so, having identified examples of your ideal customer, these 'prospect seekers' need to be able to then recognise which have the sort of problem that you are an expert at fixing. However, as in medicine, we often only see the symptoms and have to explore to identify the underlying disease.You need to provide your prospectors with examples of the sorts of symptoms which, amongst your ideal customers, often point to problems you can fix. At this stage they can start to suggest that they know someone who could relieve these symptoms by fixing the problem that's causing them.Because you have given them examples, the prospectors are able to suggest that no longer suffering the pain that the problem is causing would be of considerable value.Then, when they say to a contact of theirs, "You really need to talk to my friend John or Jenny about this; I'll get them to call you," you know you will be getting a high quality referral.Knowing your ideal customers, the problems they are likely to be having, the pains they will suffering because of these problems, the comfort and value that will result from no longer having to endure these pains, and why yours is the best method (in the circumstances) for addressing the problem, you can start to construct your Elevator Pitch.I should add here that this information is not only vital for preparing your response to "What do you do?" It is the basis of all of your branding messages, however they are communicated.I believe you actually need several elevator pitches: 60 seconds, 30 seconds, 1 breath, 1 word or phrase - all have their place. And for the longer ones you may well need different versions depending on whether you are training your surrogate sales team - networking - or actually talking to a prospect - selling - yourself.Practically you'll have to start long, then distil and refine. You just won't get it right starting short and trying to expand. You'll need to test and measure to see if your messages are coming across, and being received and understood.One possible template for a longer elevator pitch is:I work with (ideal customers) who (widely held problem) which means that (widely suffered pain). I help them (pain relief) so that they (life without pain).
An alternative opening might be:You know how (ideal customers) are always (widely held problem) which means that ......
Both are much better than:I'm a (what it says on your business card)
Good luck!
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Register for my 'Pricing By Value' Workshop in Cambridge on July 7th - Backed by my Money-Back guarantee What do I mean by 'succeeding in spite of yourself'? Well, many businesses will say they are getting what they believe to be acceptable results. Of course they would like to do even better but either they are not really sure how to achieve this, or they are unaware that improvement is possible for them, and anyway, we've just said the results are acceptable!
Many businesses I meet are suffering from one or more of these faults:- They don't focus on any particular type of customer
- They don't know what is likely to be appealing to their customers
- They don't know why their customers buy from them
As a consequence they continue to:
- Waste money
- Underperform
- Squander their potential
You can do the same as I do every time I meet a potential new client. There are a very small number of very simple questions you can ask yourself to establish whether your business could be easily and rapidly improved by making some elementary changes to your Sales and Marketing function.
Firstly, list all your current methods of promotion
Then list all the messages about you, your products and services, your customers, the problems you help solve, the joy this brings to your customers, the ways in which they can let you know they're interested, the incentives and risk reducing things you offer, which you are communicating in all your current promotional activities.
- Are these messages consistent across all the material?
- Do they make you stand out from your competitors?
- Or are they things your customers expect to be able to take for granted?
- Do they pass the "So, what" test?
If there are too many 'NO's in there, then there are some easy fixes I can suggest.
Whilst on the subject of what the customers expect to be able to take for granted, there is a simple test for whether your message is a UPH (Uniquely Placed to Help) or a TFG (Take For Granted). Just turn your message on its head and ask yourself if any of your competitors are likely to compete on this opposite message. If you think your superb service is a UPH, then how many competitors are advertising in the trade press that theirs is appalling?
These few questions on their own are generally enough to tell whether any business owner whom you know could benefit from my help. But for your own organisation, let's go just a little further.
Now, do you know:
- Are you successfully communicating these messages?
- How do you know whether you are or not?
Again, easy fixes are available if your answers start to trouble you. I have one more question for you.
- Why do your customers choose to buy from you?
Do you know? Have you ever asked them? Presuming that you have, and you have made a list of the reasons, let me finally ask you, "Why is this list different from the list of messages?" I just kind of thought it would be!
If the truth is that, above all other reasons, they buy from you because you're always cheerful and wear red trousers, then for goodness sake why aren't you promoting yourself as the cheerful, red trousers company?
I hope I have given you some food for thought. You absolutely must have solid foundations for your marketing. It might be more exciting to lay bricks, erect timbers and tile the roof, but until a trench has been dug and filled with concrete that has now set hard, there's no point!
Can you clearly articulate who your ideal customers are? Do you know what good they believe they get out of buying your products or services and from having you as their supplier? Can you say why you are a better bet, less of a risk, and more trustworthy than your competitors? And are you letting your market know all of this?
I hope it goes without saying that what matters most about your business offering is the value that your customers get from buying it from you. This is the “What’s In It For Me?” that is the only thing the customers are really interested in.
I have been working on Value Outcomes recently and I have been studying the promotional material put out by some of the Marketing experts whose ideas I trust and believe in. In promoting their own services there are some very apparent and totally common threads. I don’t think it would be a bad idea if the rest of us copied them, especially those of us who sell our skill, experience, expertise and time.
I also looked at the promotional material of other service providers and found some mis-matches - OK I’ll admit some of my own stuff falls into this category, but that’s why I’m working on it! - which helped reinforce for me the good sense of following the experts.
The first thing to notice is that the experts’ material is much more densely packed with Value Outcomes than that of other service providers. The experts don’t stop when they’ve found one, they want loads. It would be a fair bet to say they’re always looking for more.
After separating the Value Outcomes from the ‘chaff’ in the other providers’ stuff, they could be categorised into five groups:
– True value
– Learning
– So what?
– I expected to be able to take that for granted
– Bu..s..it!
The fraction that were ‘true value’ was not huge either! However, in the case of the experts there was nothing representing the last three items, and true value and learning were in the ratio 5:1 to 10:1.I rest my case!
The six common threads in what the experts are saying are:
– Numbers - of good things you’ll receive
– Time - either time saved, or how quickly you can put the adviceinto action
– FREE - “stuff” whose value is established by including some of theother points
– Regular - they’ll deliver value to you at a pace at which you caneasily absorb it - more Readers Digest than War and Peace
– Exclusive - not just that they’ve written it, but that the informationit contains is either unavailable through any other source, or thatit has been distilled from the very best practitioners inwhatever the art
– Growth - of your business, which is taken as read but is alsostated quite often
I hope this enables you to start adding more Value Outcomes to your promotions - don't forget to ask the customers for their opinions of what is or would be most valuable - and to cull the ‘chaff’ and unproductive outcomes to make room for it.
David