This week we presented an inspiring talk on how to create a functional sales funnel and pipeline into your business that will feed constant customers and cash into your business.
The talk was graphically narrated by Colin Horner. Thanks, Colin for the pic.
Listen to the whole talk here:
Next week we bring our focus on Internal processes.
Join us on Wednesday at 12:00 Noon: https://zoom.us/j/723567165
“Referral is the highest form of flattery” This is the by-line of Majestic
interactive and has become the cornerstone of what we do. In fact, this is what
my seminars and the Majestic Network are achieving every day in ways that
will bring tears to your eyes. Unfortunately, what nearly all businesses don’t
understand is that referral marketing must be a formal process. In other
words… you need to measure it.
So, here are the top 10 mistakes that South African businesses make in their
viral/referral marketing initiatives:
They don’t understand the concept. Referral marketing is about leveraging
trust from one person to another. It is inherently the purest form of business
honestly one can have. Referral marketing is NOT just some scam to bring in
business for free.
They think that referral marketing just happens. Less than 10% of
referral business “just happens”. People DON’ T want to talk about you or your
product at parties and they DON’T want to run around telling all their mates
how great you are.
They don’t formally measure it. If you don’t have a formal process to track
referral leads, then don’t bother.
They don’t report on it. You need to show the person who referred you what
the result was (especially if there is commission owing). You also need to know
at a glance who referred who and where each person is in the sale process.
They don’t ask for referrals. It’s unbelievable, but nearly all businesses are
too scared to ask the simple question: “could you please give me a referral?”
The timing of their request for referrals is bad. If you ask for a referral
before the relationship is strong enough, then you don’t have much chance of
success. However, ask at the right time and you may just get more business
than you can handle!
They run campaigns that rely solely on referrals. Referral initiatives are
there to SUPPLEMENT other marketing initiatives, not REPLACE them. They
should be part of the campaign, not the campaign itself.
They don’t make a referral process part of their day to day business.
Referrals should be part of your life, not an occasional flurry when your
business is having a bad month.
They let the referee down. Someone puts their name on the line for you and
you don’t have the courtesy to follow it up? Or worse, you provide shocking
service to the lead?!? This makes me want to get violent.
They don’t offer commission (or are unwilling to pay for leads). For
crying out loud, this is BUSINESS. Business is about money. Referral
commissions are the most critical element of the whole show. They’re not
always necessary, but you’ll lose out if you don’t offer it. Don’t believe me?
Amazon.com is built on referrals – that’s what makes them number one in the
world.
All this leads into the concept of lead generation and ROI (Return on
Investment) marketing and one of the key lessons in my book: do not spend
money on marketing, unless you are guaranteed a return on investment.
One of the key functions of a successful engaging marketing campaign is a well-defined customer or target profile. In this week’s webinar, we unpack this a little and begin to look at the various tools on social media that make this process a little easier.
As we see social media, in particular, FaceBook, mature in this aspect, we will need to understand and access these tools to add to our business intelligence processes to maximise the access to market using these tools.
We plan to unpack these tools in more detail in order to assist both ourselves and our clients to gain the advantage in our marketing profiles. If you want to be on the list of attendees for such a workshop, then please contact us and we will schedule you for the next available programme.
Marketing seems to be on everyone’s lips as we start 2018. This is because of the assumption of “if you do marketing, you will get money”. But this is not always true.
Marketing is no longer an academic exercise of numbers and shuffling people through a predefined sales process in order to scoop up a percentage of sales.
Marketing today is all about developing profitable relationships. Relationships with contacts, customers and suppliers and then creating a strategic process to ensure every person within the system is handled with care and appreciation in order to develop high levels of trust: very different to the old numbers game.
Our current series of Weekly Wednesday Webinars at One covers different aspects of marketing as we take time to unpack the theory as well as some examples and implementation of the ideas.
The first master class covered the Sales Cycle:
We followed this up with a look at the new functional, trust developing sales funnel:
This week we unpack some of these in practical examples in discussion with those online at the time. Join us on Wednesday at one: https://zoom.us/j/9071494212
As we continue this series of Intellectual Property, today we look at the registrations of designs. This has to be one of the tricky ones, as it seems to be vague at best as to what can be registered and how it is registered. So let’s unpack some of the details:
A registered design can either be for aesthetics or for function.
The aesthetics design are granted for the appearance as seen by the eye: colour, shape and pattern. This covers items such as a new shape of the vase or a chair design with a high back and long flowing armrests. The form (shape) and colours are both covered in the aesthetic design. This can be registered and will give you protection for 15 years.
The function design covers the features that are described by the function of the item: the movement and working parts of a product. This includes items such as a lock mechanism, a clutch pencil or a window opener. A functional design once registered will give you cover for 10 years.
Both these forms of IP give you the protection from others being able to copy or use the registered designs without your permission. The obvious question is how closely do they have to copy your item for it to be an infringement? This is the big issue and comes down to the way your design is described in the registration. Your application should be well written by a legal professional with experience in design registrations and include drawings, cad designs, photos and 3D renders of the product.
All registered designs need to be filed in the country that you require protection in. This obviously raises the cost of registration and should be considered carefully when applying to balance the cost to reward for your required protection.
We have a team on hand to assist you with this process and to answer any questions you may have about your new invention. Do not get caught without the required protection, it could end up costing you your future income.
This is week 8 in the 90-day business sprint and this week we speak all things sales and marketing. Last week we chatted a bit about the internal marketing and getting the message right inside your business before going outside to customers. So let’s go out and see what you need to create a solid offering to your potential customers.
Your Sales funnel is key: this is the defined and refined process that drives people from initial interest down to that all important first invoice stage. We will define this in more detail later in the week, but it all starts with having Captivating Content on your website, blog and social media platforms. This is what initially attracts your clients.
All marketing processes need to follow the sales cycle of Inform, Educated and then Sell in order to not lose people along the way. But one aspect of selling that a lot of people fall short on is the ability to close the deal and get that all important confirmation from the customer. We opt out and look for discounts and other ways to close because we lack the confidence in our product and self-ability. We will chat about this one too.
We have an awesome web assessment tool that we use and we have 10 vouchers on offer this week for free. If you want your website assessed for how effective it is as a marketing tool, then email us to claim one of the 10 vouchers.
Too often we get this wrong. We do not distinguish between the product features and benefits in our marketing materials. Technical focused business owners and product developers seem to be so focused on the design on the product (and rightly so) that we forget to focus on the benefits to the customers.
So what need to be done about this? What can we do to improve our communication to the customer and get the balance right. The simple answer is to hire a marketing consultant or staff member who will help draft product specification sheets and web copy with all the right words and terms.
But actually, all that is required is to listen o your customers. Ask the right questions and begin to understand their needs and wants. Then just be addressing these, you automatically begin to talk product benefits and not features.
Remember that the customers do not care about how much you know, they need to know how much you care first.
#90DayBizSprint
Finding new customers is one of those activities that should occupy 80% of a business’s time and effort. But retaining customers is just as important and should also occupy 80% of resources. This short video in an extract from Geoff Ramm’s keynote speech on Customer Service that he delivers across the globe each year. (Video courtesy of Unique Speakers Bureau)
Keeping customers is key, but finding them is priority. There are three types of customers: existing, new and conversion. Each group needs to be treated differently and each will need a new set of processes and strategies to cope with their needs.
New clients are the hardest to attract. They will require the full sales cycle of processes. This will include a series of Inform sessions where you need to create an awareness of their problems and potential solutions (including your product). This is followed by a series of educational interactions. This converts the initial need into a want for the potential clients and will lead them, to the next step: the purchase.
Following this, they need to be looked after and channelled to the up-sell and re-sell processes. Simple, yet most businesses get this so wrong and make it too complicated that not only do the customers not understand it but the staff are just as confused.
Get this right and your business will grow. #90DayBizSprint
With winter coming to a close here in Cape Town, the weather is getting warmers and the gaps between the rain and storms a little longer. So is it now time to do some changes and spring cleaning?
One area we see a lot of people needing in their business is a revamp of their marketing. Too many companies we see do the same old same old marketing and sales cycles over and over again. Then as insanity defines, we expect different results and an ever increase in the bottom line.
We have revamped our marketing offerings ready for your new business approach to accessing the market ahead of the end of the year season. We now have two-valued and fun filled workshops: Blue Water Marketing strategies and Narrative Marketing that we have on the schedule for the next few months.
If you are ready to relook, revamp and relearn what your marketing is all about then we are ready for you. Please go HERE to check out for dates and details and get your place booked.
Remember: if you change nothing, nothing will change.
See you at the next workshop.
Growth happens outside your comfort zone. Let me say that again, growth happens outside your comfort zone. That means two things, you need to get outside your comfort zone to grow and you need to learn how to rely on others.
In this video we talk about developing your business through strategic marketing activities. Take a listen and list some ideas that may pertain to your business. Here are some suggestions:
Create a working social media campaign with links, reposts and posting calendars
Develop and implement a referral farm
Identify and implement a working sales funnel to attract and convert customers
Develop a method to up-sell or re-sell to existing customers
Build a solid ongoing, repeatable marketing strategy
