The Three Biggest Lead Generation Mistakes Small Businesses Make… Part 1

Posted by chucktrautman on November 21, 2019

How many of those actual ads can you name off? Researchers estimate that over the past seven days, you have been exposed to as many as 117,000 ads based on national averages. So out of 117,000 ads, how many can you name?

If you’re fairly attentive, you may be able to come up with 3 or 4 specific ads… but I’ll bet that’s because you probably see those ads over and over… week in and week out. Let’s face the facts… repetition works. When you see any advertisement multiple times every day you’re bound to eventually begin to recall the ad. But now answer this question.

What few ads you do remember, how many of their products or services have you bought? I’ll admit that I personally love the E*Trade baby commercials on TV and YouTube. I think they’re a scream. If I hear one of their ads come on the TV and I’m in the other room, I’ll actually stop what I’m doing and go watch it. But… I don’t have an E*Trade account. Never have, never will. Why should I?

What benefits do they offer me as a buyer of online trading services that any of the hundreds of other stock trading services offer? See my point? Does a smart-aleck, wise-cracking baby have any relevance to online stock trading whatsoever? Of course not. So why does E*Trade continue to make these commercials? Believe it or not, there is a reason… and by the end of this short presentation, you’ll fully understand what that reason is.

Businesses today are led to believe that all they have to do to build a successful business is create some type of attention-grabbing form of marketing and they will generate leads at will. Nothing could be further from the truth. And that’s just in the area of marketing. What about generating fast cash flow?

EVERY small business needs to generate fast cash flow. So how do you do that as a small business owner? What about generating profits? Generating more cash flow is great… but not if you don’t get to put any of it in your pocket at the end of the day. How would you like the answers to all of these problems?

How would you like it if I could cut through ALL the hype… eliminate the B.S… and give you our proven step-by-step roadmap for making your phone ring, herding prospects to your website and marketing your business successfully?

I’m Going To Reveal To You The Three Biggest Lead Generation Mistakes Small Business Owners Make…And Show You How You Can Overcome Them All.

Mistake #1 they fail to get professional help.

Mistake #2 they don’t know the fundamentals required to successfully market their business and attract as many new clients as their business can handle.

Mistake #3 they have no idea how to use their marketing to generate immediate cash flow.

Let’s explore these three in depth, and show you how you can easily and systematically overcome them all.

Mistake #1… small business owners fail to get professional help. Can you name me just one professional athlete who does NOT have a coach? There aren’t any. Tiger Woods has 9 coaches guiding him in everything from his golf game to his financial investments. But do small business owners really need professional help?

Remember the TV ads we previously discussed? Those ads are created by “professionals.” Unfortunately, those professionals have no clue what they’re doing. Everything they’re doing in marketing and advertising today is wrong! But let me prove that to you right now.

If you currently use any form of marketing such as a print ad, brochure, postcard, flyer… or for that matter… your company website, take it out and look at it carefully. And if you don’t have any form of marketing right now, stop this presentation for a few minutes and take out a sheet of paper and sketch out what you think would make for an effective ad for your business.

It doesn’t have to be anything formal or fancy… just create a basic outline of the ad and where you would locate the various elements on the page. Do this right now. Now that you have your ad… or a mock-up of your ad sitting in front of you…

99% of all marketing professionals DON’T know the lead generation secrets I’m about to reveal to you. This information is so powerful and compelling, it will position you in the top 1% of all lead generation professionals today. This example will show you why every small business owner should acquire our step-by-step roadmap as they start to generate leads for their business.

Here’s what a true marketing professional will know… and help you implement into your marketing. It’s known as the “conversion equation.” Our conversion equation will make sure you NEVER have to compete on price. Instead, you will start selling your product or service for what it’s really worth.

You’ll drive in more leads and increase your advertising response by 10 to more than 100 times. You will convert a higher percentage of those leads and dramatically increase your number of sales. You will get a bigger bang for your marketing buck. The bottom line is this… you will literally create a profit faucet that you will have TOTAL control over.

Search & Implement

Posted by chucktrautman on November 14, 2019

People only remember the extraordinary, strange, wild, surprising and unusual. You need to make sure your ideas and marketing reflect these reactions. This doesn’t mean you have to have a product or service that is completely out of the norm, in fact, this could easily drive customers away. You need to have a product or service that is high quality and easily marketable, then you need to market it as extraordinary and new.

As you’re research word of mouth, there are some questions you need to ask along the way:

What are the users willing to tell the non-users?

  • Exactly how do your customers describe your product?
  • What are the non-users willing to ask the users?
  • What are the things they need to know, but are unwilling to ask?
  • What happens when these issues are raised?
  • Exactly what do your prospects have to know in order to trigger purchase?
  • Exactly how do your customers answer the objections, concerns, and qualms of your prospects?
  • How do your customers persuade their friends to use your product?
  • How do your customers suggest they initially get to know or try your product?
  • What warnings, safeguards, tips, and suggestions do your customers suggest to your prospects?
  • Are your sales messages, positioning, and important facts about your product getting through and surviving word of mouth?
  • What messages do you need to inject into the marketplace in order to turn the tide in your favor and how will you deliver them?

There are two main reasons why word of mouth research is so important:

  1. To get the real impression and feedback from customers
  2. To define word of mouth itself and the concept it creates

There is a simple formula that can help you conduct your word of mouth research. It’s called the “2-2-2” model.

2-2-2- Model

What this breaks down to is:

  • 2 groups of customers
  • 2 focus groups of prospects
  • 2 mixed groups (enthusiasts & skeptics)

In these groups you need to ask the following questions:

  1. What would you tell a friend?
  2. How would you persuade a skeptic?
  3. What questions would you anticipate from a skeptic?
  4. How would you answer their objections?

The best way to conduct these groups is by teleconference. This ensures you’ll get a good variety of demographics for your customers and potential customers. It also allows people to feel safe and more able to express their true feelings. These teleconferences should not be conducted by you, but an independent party to avoid adding pressure to the situation.

We’re going to transition a bit and talk about how to construct a word of mouth campaign. First we’ll talk a look at the essential ingredients you need to put together a campaign. These ingredients are:

  • A superior product
  • A way of reaching key influencers in your marketplace
  • A cadre of experts willing to bat for you
  • A large number of enthusiastic consumers
  • A way of reaching the right prospects
  • One or more compelling stories that people will want to tell to illustrate your product’s superiority
  • A way to substantiate, prove, or back up your claims and how the product will work in the real world
  • A way for people to have direct, low-risk experience, a demo, sample, or free trial
  • A way of reducing overall risk, an ironclad guarantee

Once you have those ingredients ready to use, you should consider the situations in which your company can benefit from a strong word of mouth programs. Some of these situations are:

  • When there are credibility problems
  • When there are breakthroughs
  • When there are marginal improvements
  • Where the product has to be tried in large numbers or over time
  • Where there is high risk in trying the product
  • With older or mature products that have a new story that people tend to ignore
  • With unfair competitive practices such as spreading rumors, or telling lies about your product
  • When there are governmental or other restrictions on what you may say or claim directly

While, most of the word of mouth tactics are positive for your word of mouth program, there are a few products to avoid using in this program. They are:

  • Products where a seminar would not provide meaningful added value
  • Products that can’t be tried and where there is no consensus among experts
  • Products that are clearly inferior, without having a compensating superiority for similar products
  • Products that are so personal or emotion that rational discussion is irrelevant to the decision
  • Products where the decision value is so small (low price/low volume) the medium will not be cost-effective.

This wraps up this post on word of mouth research and how that research can be used when putting together your word of mouth campaign. If you need help with the research and a plan to use the results of that research, try our FREE test drive to get all the help you need with our top notch resources and tools.

Decoding WOM Messages

Posted by chucktrautman on November 7, 2019

Today’s lesson will talk about how word of mouth messages are delivered and how you can influence those messages.

There are essentially 3 methods of word of mouth:

  • Expert to Expert
  • Expert to Peer
  • Peer to Peer

When experts are talking about your products or service you will usually receive an amazing rush of sales and new customers, so obviously this is one of the best things that can happen. You can also help to facilitate this by offering free products to experts for them to review.

Expert opinion can also bring about new ideas that help to fuel new products, services and operating systems within your company. If you take the time to change or develop the opinions of even a small group of experts, you will have the opportunity to help your market explode.

There is a standard word of mouth delivery system that, in most cases, takes a few years. But, you can speed this up into only a few weeks. The standard system is:

  • First impressions from an expert
  • Organized trial of your products or services
  • Pooling peer experiences

It’s important to know exactly who is advocating for your products and service. Take the time to find out who they are and reward them. While, you may already have a customer service system for filing complaints, do you have one for compiling praise? Most likely not. If you take the time to show these people appreciation, they will help take your products and services to the top.

  • Some of the ways you can show them appreciation are:
  • Invite them to a customer appreciation dinner
  • Offer to video tape their testimonials
  • Ask to interview them for feedback to improve with
  • Offer them a premier customer membership
  • Ask them to join a referral incentive program

There are lots of things you can offer your biggest fans to help spread the word about your products and services.

Conventional media has been around forever and while it can still be effective, it’s lost a little of its luster over the last few years. There are a few reasons for this:

  • Expensive and doesn’t necessarily return results
  • Boring, lacking something fresh and new
  • Too short of a time slot to offer enough information

While these are all true, there are ways you can make conventional media work for you. For the information to be effective it needs to be presented in the right sequence, come from the right sources, be relevant to the target customer, be credible and be delivered at the right time in the medium.

We’re going to switch gears a little and talk about the two phases of the product adoption cycle. Traditional media is great for taking you through the information stage where you can offer the information you need to your potential customers, but it’s not so great for measuring the results of those efforts.

Without these results you can’t fine tune your marketing and therefore can easily miss the boat and lose potential customers and waste a whole lot of money. Once a consumer has the information they need, they’ll go through a verification process as they analyze whether or not the purchase was a good one. They generally get their information through:

  • Direct experience with the product
  • Interaction with peers using the same product
  • Experts’ experience
  • Scientific journals and other resources
  • Independent reviews and opinions
  • You can accelerate this process by:
  • Providing your own demo’s and free trials
  • Offer them indirect experience through the experience of others
  • Offer a good true story that can be passed around

Once you have the ability and are able to work through these concepts, you will be able to target your customers much better. If you need help with any of this along the way, try our FREE test drive to gain access to our experienced business coaches.

WOM Meets Customers Head-On

Posted by chucktrautman on October 31, 2019

Today we’ll cover the idea of shortening your customers’ decision making process with positive word of mouth. There are essentially 5 stages in the decision making process.

They are:

  1. Give the product a chance and transitions from a “no” to a “maybe”.
  2. Check out the options and investigate the different products available.
  3. Observe the product to check for potential benefits, features and operations to see if there is a fit with their needs.
  4. Become a customer and purchase their first item. They will be discriminate with their first product as they form their opinion of you.
  5. Purchases again and starts spreading positive word of mouth as an advocate of your products.

So, let’s take a closer look at each one of these.

From “No” to “Maybe”

This stage is really important because if your potential customers don’t even take a second look at your products and services, then you have no chance of sealing a deal. This is why you need to offer credible information and well thought out pricing, guarantees and incentives.

Investigating Your Products

At this stage they are taking a closer look at your product line to see if there is actually anything that could benefit their life. This is where you need to make sure your hard information is right out there in front for the customers to see and compare.

Trial Period

Customers often feel more at ease and ready to purchase when there is some sort of a trial in place. They usually want to try vicariously through someone else, so they don’t feel any risk involved. A good way to offer this is through demo videos, product demonstrations or a tour of your facilities. This stage may invoke a reaction of “I tried it and liked it. You should check it out.”

Make a Purchase

At this stage, they have taken the risk of purchasing one of your products or services and are now evaluating how easy, convenient, cost effective and satisfying your product or service is. At this stage a common reaction would be, “It was really easy to use and learn from. It’s really great, you should get it!”

Advocates for Yours Products

At this last stage of decision making the customer is immensely pleased with your product and often keeps using it and/or comes back for more products and services. They are likely telling everyone they know how much they like it, that they use it every day and have already (or will be) back to your establishment for more.

We talked a minute ago about the different types of purchasers. Now we are going to take a closer look at their characteristics, so you can figure out which tactics are best to use at the right stage of the decision making process.

The Innovator

  • Wants to stand out from the crowd
  • Know what’s hot and trendy
  • Likes “strange” or “weird” new products
  • Wants to be the first to try and will talk about it animatedly

Early Adopter

  • Driven by excellence
  • More concerned with possibilities than realities
  • Always looking to be a leader
  • Always looking for a new vision

Middle Majority

  • Wants to be perceived as competent
  • Concerned about practicality and easy comparisons
  • Needs an easy way out if not satisfied
  • Wants products that meet the industry standard

Late Majority

  • Generally skeptical and wants to know the risks upfront
  • Needs to shop around for the best deal
  • Needs a support system
  • Wants what everyone else has

Laggard

  • Needs it to be completely safe and traditional
  • Needs reassurance that nothing will go wrong
  • Won’t try new things unless it’s the last resort
  • Will search for loopholes and problems
  • Wants to use it in the standard industry way

As you can see, each type of consumer wants something just a little different depending on their personality type. The key to successful word of mouth is to target and cater to each type of consumer. If you need help identifying the types of consumers you are currently helping and how to attract the types you are lacking, try our FREE test drive for the resources and tools you need to get the job done.

Next time we’ll talk about how word of mouth messages are delivered and what you can do to help facilitate that.

Harness the Power of WOM

Posted by chucktrautman on October 17, 2019

Today we’re going to talk about how to harness the power of word of mouth. Including the six step process to success and the 30 (that’s right, I said 30) ways to harass the power of WOM. So, let’s get started!

There are six steps to harassing word of mouth:

  1. Understand your customers’ values and priorities, this will help you understand why they would buy your products.
  2. Understand the different adopter types: innovators, early adopters, middle majority, late adopters and laggards.
  3. Identify which decision stages are needed for your product to be adopted.
  4. Use the information from steps 2 & 3 to figure out which wording and word of mouth tactics are going to work using the Decision Maker Matrix (we’ll talk about this in a minute).
  5. Put together the resources for the highest word of mouth impact.
  6. Create and implement your word of mouth campaign.

The Decision Maker Matrix is based off years of trial and error by George Silverman. It essentially charts to different concerns you may come across when working with different adopters and putting together a decision process for each one.

We are now going to move on to the 30 ways to harass the power of WOM:

Use Experts

Experts can come in many forms and all their opinions should be taken into consideration when putting together a WOM campaign. Some experts to gather information from include:

  • Customers
  • Suppliers
  • Experts
  • Salespeople
  • Experts’ roundtables
  • Experts’ selling groups

Seminars, Workshops & Speeches

These venues are a perfect opportunity to gather information. People who attend these types of events are used to giving feedback, so you can use a survey or other method to gather information you can look over later. Some events to use are:

  • Speakers program
  • Seminars
  • Group selling
  • Dinner meetings
  • Peer selling groups
  • Teleconferenced experts’ panels
  • Trade show events/opportunities

“Canned” Word of Mouth

The concept of “canned” word of mouth is using hard and online products to get feedback and offer information at the same time. Some ideas for these are:

  • Videotapes
  • Audiotapes
  • World Wide Web
  • CD’s

Referral Selling

As we’ve talked about before a referral program can help with a variety of things in building your business. By using some of the following tactics and opportunities you can find out exactly what you need to do to generate positive word of mouth. These tactics and opportunities are:

  • Testimonials
  • Networking
  • Referral Selling Program

“New” Media

The concept of “new” media is the use of up and coming media sources and opportunities to get the word out about your products and services and listen for the feedback about them. Here’s some of the “new” media options:

  • Hotlines
  • Faxback services
  • Web-based word of mouth, such as forums, e-mail, etc.
  • Call centers

Using Traditional Media for Word of Mouth

Using traditional media is a great way to get feedback. These are still considered main stream ways of interacting with the public and consumers. Some traditional media outlets are:

  • Customer service
  • PR
  • Placements
  • Events
  • Promotions
  • Word of mouth in ads, sales brochures, or direct mail
  • Salesperson programs, sales stars, or peer training,
  • Word-of-mouth incentive programs (“Tell-a-friend” programs)
  • Customer gifts they can share with their friends (articles, how-to manuals)

Internal Word of Mouth

  • Encourage employee word of mouth and sharing feedback with family, friends and others
  • Offer rewards or commission for word of mouth success

As you can see there are tons of ideas you can work with to increase your level of positive word of mouth marketing. If you need help with any of this, please try our FREE test drive to access our exclusive resources that can help you put this whole thing together.