Posts Tagged ‘Referrals’

Pain Relief = Value Statement

Wednesday, September 1st, 2010

Yesterday I wrote how to identify the pain your product or service can relieve. Today I want to talk about how you can turn that knowledge into a value statement for your business.

Remember that we don’t buy a product. We buy the solution to a problem or a value that your service brings to us. It’s not enough to say you have a great product or service. You have to tie that back to us and what’s in it for us. That’s where your value statement or unique selling proposition comes in.

By the way, saying your product is #1 in your industry doesn’t work. I wrote a post several months on why that is. I suggest you go back and review that post now. I’ll wait for you to come back.

Back now? Good. Now what can you say that will have meaning to your prospects? Go back to your client stories. You identified why your clients come to you and what solution you can offer. Look at those solutions and see if there is a way to quantify them.

Using me as an example again. Clients come to me because they are uncertain how to make social media work for them. I met with a prospect yesterday who had worked hard to learn the basics of Twitter. It took her a year to read about and learn best practices and build a basic following. I can get my clients up and running, with specific tactics for content and attracting followers, in about 3 months. So I can say I cut the learning curve in social media by more than in half. Or I can say that I can get someone up and running and seeing results with social media in 3 months instead of a year or more. There’s lots of ways I can state my value statement.

If someone is worried about getting into social media, that’s going to be a good value statement and will address their pain. If I’m talking to someone who is experienced in social media, it won’t be a value to them, but that’s okay. That company isn’t a good prospect for me. However, if they took longer than 3 months to get results, it might stick with them as a reason to refer me.

See how it works? Your value statement should be short. A sentence or two and customizable for your audience. Does it take work? Sure. But it’s worth it. Talking about your value is a lot more fun and effective than listing your services. And it makes you a lot more referrable.

Sound too hard? Give me a call, and I’ll help you out with it. Remember. I can get you results faster than if you do it yourself. Or, if you are in the DC area, attend my Netmasters meeting this month where we are going to go in-depth on this topic.

Networking Right Side Up

Monday, August 30th, 2010

Many people go about networking backwards. They say, “I need to meet people” and then run out to find an event. They meet people, do one to one meetings and perhaps even have a decent follow up system in place. But often they still don’t get the results they were looking for.

Why is that backwards? Isn’t networking about meeting new people and building relationships with them? Of course it is, but, like anything else in business, you need to network with a plan and purpose. Over the next few posts, I’m going to break networking planning down into discrete steps. Along the way, we’re going to talk about some concepts that will make you better at selling your product or service. How’s that for a two-fer?

I’ve said I don’t recommend starting with the “meeting people” part. So where do I think you need to start? Here’s the progression I recommend:

1. What pain points bring clients to you?

2. How do you relieve their pain? (otherwise known as your value proposition)

3. What are the other complementary (but not competing) businesses that are serving your ideal clients?

4. Where do those businesses network?

5. How can you add value to those businesses to motivate them to refer you?

6. How can you educate them to refer you?

If you can answer those six questions, you’ll have an excellent outline for a strategic networking marketing plan. You’ll be able to evaluate networking venues based on whether they are attracting either your target market or your strategic partners. You’ll have a message and value statement to help you get referrals and close clients. And finally, you and your strategic partners will know exactly how to help each other, which will lead to a stronger relationship. And more referrals!

Tomorrow we’ll start with pain points.

Networking Is As Easy As A-B-C

Thursday, August 26th, 2010

I’ve spoken at many points on this blog about identifying and being specific about who you need to meet. Now I’m going to pull it all together in an approach to getting introductions to specific people. For this, I suggest the A-B-C approach.

It uses the basic principle of “Six Degrees of Separation.” Of course, if you are a good networker, you seldom need as many as six steps to get to anyone. Envision a target with an “A” in the center. Around the “A” is another circle, labeled “B.” And around the “B” circle is a final circle, labeled “C.”

Looks kind of like a target, doesn't it?

These circles represent your contacts, both the ones you already know and the ones you want to know.

Look at your current contacts as your “C” contacts. These are the people who know, trust and are willing to make introductions on your behalf.

Then decide on the specific person (or persons) you want to meet: an ideal client, a perfect referral source, or the hiring manager at the company where you most want to work. These are your “A” contacts. Your goal is to leverage your C contacts to get introductions to your A contacts.

More than likely, you will need some intermediaries, and those are “B” contacts. B contacts are people who can introduce you to your A contacts. In some cases a C might also be an B, but often not. So you look at your C contacts to determine which are most likely to get you a step closer to A.

If you use LinkedIn or a similar social networking site, you have probably done this without thinking about it in these terms. On LinkedIn, there are people who are one, two or three steps away from you. If you do a search and want an introduction to someone who is three steps away from you, you send a request for an introduction to your first level contact. If your contact trusts you enough to send it on, it gets forwarded to the second level contact. And hopefully that person sends it on to the person you really wanted to meet. LinkedIn was, in part, designed around this very A-B-C concept.

The same approach works in face to face networking. Here’s an example. Let’s say during the last election cycle, I had wanted to meet Hillary Clinton. Who do I know who might have gotten me a step closer to her? Well, I know the owner of a heating and air conditioner company who has done work for a former senator in my state. That former senator might have been able to introduce me to Ms. Clinton. So I would have called my contact and let him know whom I needed to meet and why. If I have a good relationship with him (and I do), he should have been willing to introduce me to the former senator. And if that meeting went well, the senator might have been able to introduce me to Ms. Clinton directly, or might have introduced me to another B contact who could. And so it goes. Within two or three meetings, I could have had a direct line to a presidential candidate.

The key is knowing exactly who you want to meet and knowing your current contacts well enough to step your way to those ideal contacts. The last ingredient is trust. Without a certain level of trust, your contacts aren’t going to be willing to pass on your requests for introductions.

The system really does work. I was teaching a seminar on this topic, and I asked the participants to raise their hands if they had a specific person they wanted to meet. I chose a participant at random and told her that the people in this room were, for the moment, her C contacts. I asked who she wanted to meet. She said she wanted to meet a decision-maker at Marriott corporation. I turned to the room and asked if anyone could be her “B.” Several people raised their hands. Totally random group of people, and the system still worked.

It sounds basic, but networking really can be that simple. So who is your “A” contact? Maybe we know the ideal “B” contact to get you there.

Referral Education. Or How to Get Referrals From Anyone.

Wednesday, August 18th, 2010

Yesterday I wrote about deciding on what networking group to join based on the networking ability of the group members. But what if you find a group you like, want to join them, and they aren’t very savvy about referring your business?

You’ll need to systematically educate them. Which isn’t a bad thing. It will force you to hone your message and clearly define who is a good referral. Which might make you better at selling your product or service. Not bad, eh?

I’ve written a lot of article on elevator speeches, and it might be a good idea to review them. Just search on “elevator speech” on my blog home page.

Stories are going to be key to educating your audience. You’re going to need to look at your client list and come up with your best stories. Here’s what you’re looking for:

Problem
Solution
Outcome

If you can come up with three or four good examples that fit that format, you’re well on the way. Of course, you’ll work those stories into your elevator speech, but you’re going to need to use them in one on one meetings as well.

I’d suggest you mention in your meeting that your business can be tough to refer. Yes, there’s a danger in putting that idea into someone’s head, but I think it’s offset by the fact that they are probably already thinking, “I have no idea how to refer you.” Address what they are already thinking, and you’ve won half the battle.

Then pull out your stories. Go through the two that are most likely to be relevant to the person with whom you are meeting. Walk through why those clients needed you and how you were able to help.

Tie those stories to possible industries the other person might be familiar with. Give triggers. Ask the person to look or listen for certain cues. Then give them some specific ways they could start a conversation around your business.

Is that a lot of work? Yes, but it will be worth it. Of course, you need to give the other person equal time and attention. The more you are willing and able to refer others, the more likely they are to refer you.

Anyone have a particularly difficult business to refer? Tell us about it in the comments, and let’s see if we can’t help you out.

I Won’t Use Your Service. How Can I Refer You?

Tuesday, August 17th, 2010

All last week I wrote about social media. Time for a change back to face to face networking for a few days.

I was meeting with someone last week who was thinking about joining a networking group, and she asked my advice. I knew the group well, and I said, “I don’t think it’s going to work for you. The people in that group aren’t going to need your services, and I think you’ll be frustrated.”

She very correctly called me on my statement and said, “But I thought the point was to work through them to their referrals, not make them clients.”

Of course I agree with her, but that wasn’t quite my point. As you network, you need to know your audience and your product or service. Some groups are made up of more savvy networkers than others. This group isn’t one of the savvy ones.

Some people can envision how they would refer someone, even if the service is something they will never use. For example, I personally have no use for someone who does corporate mediation. But I know the kinds of people who would need that service, and I can refer it.

Some people can’t make that leap. They are generally the smaller business owners who are new to the concept of business by referral. When they are still trying to get their message right to generate referrals and keep in mind easy to refer businesses, they aren’t quite able to get their heads around more complicated to refer businesses.

You need to keep this in mind when joining a networking group. Is your business something the members of the group will understand and use, even if they don’t use you? If so, you’ll have an easy time educating them on how to refer you. If not, you’ll have a bigger challenge.

Am I saying you shouldn’t join such a group? No, I’m just warning you that you’ll have to work harder than say, someone who sells gift baskets. Everyone can see how to refer that business. Everyone may not instantly see how to refer you.

That’s the “bad news.” The good news is that tomorrow I’m going to write about how you can educate anyone about how to refer your business, even if you fall into the “hard to refer” category.

Social Media Roles: Be a Content Filter

Wednesday, August 11th, 2010

Yesterday I wrote about Content Creators, and how they can effectively use social media to build a following for their ideas. But what about those of you who can’t or don’t want to create content on a schedule? Are you out of luck for being known as a go-to person in your field?

Nope. You have another approach. You can be a Content Filter. And we need you!

If you are active in your field or industry, you are probably already spending time reading articles and commentary. Why not use that time to build your reputation? Disseminate the good stuff and occasionally comment on why the bad stuff is bad, and we’ll keep coming back to you. For myself, I’m interested in a lot of different fields, but I don’t have time to read everything. I value the people in my network who read all the crap and direct my attention to just the good stuff.

Who will be comfortable in this role? Anyone in the real estate, financial or health and nutrition fields are naturals. There is a lot of information being disseminated in those areas. Some of it good. Some not so much. If you are willing to filter and comment on what is being presented, you’ll be valuable.

How do you use social media to disseminate information? The good news is that you have lots of choices. You can use any of the major channels: Facebook, Twitter, LinkedIn or YouTube. How?

Facebook: Set up a Business page and use that as the repository of all the links to good content. You can write your own commentary on both good and bad articles, and you’re not limited to just 140 characters.

Twitter: Obviously tweeting links can work. If you want to build relationships with the major players in your industry, that’s easier here than on Facebook. Lots of business Facebook pages are maintained by a PR company, and it can be difficult to interact directly. But many Twitter accounts are maintained by the people, and some of them will respond back to your @Mention.

LinkedIn: Join a Group, participate in Discussions and post links in your status updates. It’s not quite as easy to use LinkedIn for this purpose, but if your industry in more active on LinkedIn than the other channels, then definitely use it.

YouTube: If the content you are filtering is primarily video then YouTube is the natural. You can create a profile and use your “Favorites” as a repository for the content you want to promote.

How do you manage your time? Obviously, the majority of your time will be spent reading and/or watching content. But you should already be doing that, so it’s not a new demand on your time. Other than the time spent reading, you’ll be selecting the content to share and sharing it. You’ll want to leave time to engage in discussions around what you’re sharing. Over time, you’ll want to build and maintain relationships with the major players in your field. And they should want to know you. If you are promoting them, it’s in their interests to be on your good side.

How does this give you business? Go back to who I said were naturals for this role. All of them are in professions requiring a high degree of trust. This role will build that trust and, over time, lead to customers and referrals. After all, if you are the one we’re going to for trusted information, why wouldn’t we go to you when we need your services?

Sound like you? Excellent. You have a place to start. But maybe you’re not all about the content. Perhaps your focus in on relationships. Not a problem. The “Networker” is the role for tomorrow.

Social Media: Don’t Forget the Strategic Partners

Monday, August 2nd, 2010

I’ve written a lot about finding and maintaining relationships with strategic partners. In case you don’t remember who those are, they are the non-competing, complementary businesses to yours. In other words, the people who are marketing to the same clients as you.

While businesses do use social media to find clients, many forget that they can look for and “meet” strategic partners there as well.

Last week, I was running my Netmasters group, and James Meyers of Celestial Cheesecakes had an “aha!” moment when he realized he could use Twitter to reach out to restaurants who want to sell his cheese cakes. He’d been trying to figure out how to use Twitter to find individual customers, and he’d gotten stuck on strategy. Once he realized he could use social media to find and build relationships with restaurants and coffee shops, he suddenly saw the value.

By the way, James’ cheesecakes are wonderful! Check him out and follow him on Twitter (linked to in his name above).

So who are you looking for as strategic partners in social media? And how can we help you get to them?

Tracking Marketing ROI Part 3-Other Forms of Marketing

Friday, July 2nd, 2010

This is my 200th post! Let’s celebrate with a guest post from Susan Prince, otherwise known as @CadenceMarket. A couple of weeks ago I did two posts on tracking ROI from social media and other networking. Susan has done a follow up post for us on tracking the ROI from other forms of marketing. Take it from here, Susan!

Continuing the idea of tracking your marketing efforts, you should now be in the habit of asking how and where people learned about your business.

Sometimes this can be tricky as people may not always remember exactly where they heard about you. Good marketing always has some form of brand awareness which is geared towards building familiarity with your business. And while it’s nice that people remember you from your advertising, sponsorship or PR activities, it is also important to have some portion of your marketing budget dedicated to activities that can be more easily tracked. Not only that, but it’s very gratifying to see your marketing dollars produce actual sales. It reaffirms the idea that marketing does work!

Depending on your objectives, there are a variety of tactics you can employ that generate trackable results. For example, if you’re interested in building your email list, you may offer a free white paper or some other valuable information on your website that requires an email address. Of course most people are interested in increasing their sales – so tactics that drive customers to their store or website are particularly valuable.

So what types of tactics can you employ that generate trackable results?

Postcards
Coupons
Email offers
Internet ads
Advertising with a specific call to action

All of these tactics require that customer to either physically present something, mention a specific code or visit a unique url to receive the promotion.

The beauty of these types of promotions is that they can have an immediate impact on business. Personally, I love postcards. They are relatively inexpensive and really stand out in this day and age where most people’s email inboxes are overloaded with promotions. By mailing out a postcard with a specific promotion (i.e., bring in this card to receive a 20% discount off your order), you will know exactly who responded to the mailing because they need to bring the card in to redeem the discount.

And while it is difficult to generate a huge response from email, it’s infinitely trackable. You can see exactly who opened your email, who clicked on the links, who forwarded it to their friends and who decided they don’t want to hear from you anymore.

Internet ads also don’t typically generate lots of response, but like email promotions, they are relatively inexpensive and again easy to track.

Regardless of which method you decide to employ, you can count on high degree of satisfaction by seeing exactly what’s working and what’s not.

Thank you, Susan. All those forms of marketing are not areas in which I work with clients. So if you are interested in learning more, stop by Susan’s website for more information

60/30/10 and Social Media

Monday, June 21st, 2010

Last week I wrote about how networking can get you in front of the 60% of prospects who don’t yet know you exist but probably need your services. Today I want to write about how social media can get you there.

Many of the businesses who are successful with social media in this way will be the ones who sell impulse purchases. Restaurants are a good example of this. Perhaps you are getting ready to go home and you check Twitter before leaving the office. One of the restaurants you follow has tweeted about a menu item and posted a picture. You look at it and think how good it looks. Before you saw the tweet, you didn’t have an intention of dining out, but that tasty-looking picture changed your mind. Before you checked Twitter, you were in the 60%–you needed food but weren’t actively considering a restaurant for that evening.

Retail stores can do the same thing. Posting a special to a Facebook page or a video of a new product on YouTube can create either a need or an urgent want for your product. Again, the prospects might not have been thinking about your product, but the social media interaction nudged them in a direction they were willing to go.

Obviously, you’ll want to be honest in your offerings. If you say you have something, make sure it’s in stock at the price indicated. Sure, you can trick a prospect into your store, but you won’t keep them, and they won’t come back.

You’ll notice I mentioned the use of pictures and video. We’re more likely to want something if we’ve seen it. The visual will trigger other sense or experiences. If we see the mouth-watering dish, we’re more likely to imagine ourselves eating it than if we just see a description. Use every technique at your disposal to enhance your odds. Creating the idea of scarcity is also effective. If we see a cool gadget and also see there are only 10 left, we’re more likely to give into the impulse to buy.

Okay, that works for impulse purchases at retail stores and restaurants. What about service businesses? Can you use social media to attract the 60% pool? Of course you can. And blogging is your most effective tool. If you give away information to introduce potential prospects to solutions you can provide, especially if those solutions are unusual in some way, you will attract people to say “Tell me more about that.” From “Tell me More,” you can ask questions to determine their needs and how you can meet them. If they reach out to you to ask, they are unlikely to start shopping your competition.

These are just a few ways to use networking and social media to attract clients who might not otherwise seek you out. Anyone else have any ideas to share? We’d love to hear about them in the comments!

Networking Into The Right Prospect Pool

Friday, June 18th, 2010

Yesterday I wrote about the various pools prospects can fall into. Today I want to discuss how effective networking can get you introduced to the roughly 60% of people who need you but aren’t actively shopping for the solution you provide.

The short answers are clear triggers and strategic partners.

Triggers

What are things that your ideal clients do or say that other people could pick up on? We often experience pain points well in advance of deciding to take action. What are those signs? Let me illustrate with a couple of examples.

Before someone makes the decision to buy a house, they might say things like:

Rents have gotten so high
We’re tripping over each other in the house
Where are we going to put the new baby?

A business owner in need of some organizational help might say things like:

I can’t find my desk!
Where did I put those proposals and quotes?
Email has taken over my life

When people say these things, they are experiencing pain, but they are probably still at the point of suffering without looking for a solution. If you can train your network to listen or look for these signs, they can refer you at just the right point.

Strategic Partners

These are people in complementary but non-competing businesses. They are marketing to and servicing exactly the same clients as you. If they are good, they are probably already having conversations with their clients about pain points. For example, as a coach, I sometimes uncover a need for counseling. Some of my clients weren’t in the market for a therapist, but I was able to point them in the right direction. I was able to match the person to the right therapist, and none of them got “three estimates.”

Sometimes your strategic partners get it right away and don’t need coaching. But sometimes, they need help. That’s where you can sit down for a productive one to one meeting where you discuss questions they could ask to uncover referrals for you. Of course, I always recommend those be two-way conversations where you also ask how to find referrals for them

These two methods will increase the chance that you will get referrals from the 60% pool. If the referral is handled properly by all parties, these prospects will never need to move into the 30% (actively shopping) pool.