Using LCDs to Explain & Promote Your Businessstring(50) "Using LCDs to Explain & Promote Your Business"

When it comes to telling people about what you do, the deeper you go into the specifics the greater your success will be.  In this video, I talk about how to explain and promote your business by breaking it down into its Lowest Common Denominators (LCDs).

Many years ago, I visited a BNI meeting where I witnessed the absolute best presentation I’ve ever heard at a weekly networking meeting and it was given by a florist who focused on the details of a single rose. Watch the video now to hear the story of what the florist did and said that made his presentation so successful and to learn why specificity is key in talking about exactly what it is that you do.  If you belong to a strong contact network where you give weekly presentations, the more specific you can be in explaining the aspects of your business, the greater your results will be.

If you struggle to come up with talking points about your business at your weekly networking meetings, this video is for you.  I offer a simple strategy for pre-planning your presentation topics for an entire year–never again will you have to wing your presentations because you’re not sure how to describe what you do.

So, what aspect of your business are you going to focus on at your next networking meeting?  I’d love to hear about it.  Please share your thoughts in the comment forum below.  Thanks!

 

 

 

The 3 Keys to Creating a Knockout Networking Strategystring(53) "The 3 Keys to Creating a Knockout Networking Strategy"

Whether you’re just starting out in the world of networking or you’re a well seasoned networker, there’s one thing you should never go to a networking function without . . . strategy.  In order to be a successful networker, you need to have a plan.  For example, you need to know who your target market is and which networking events will offer the best opportunities to effectively connect with your target market.

So, how do you create a plan when you’re a time-strapped businessperson and you don’t even know where to begin?  Well, you’re in luck–it’s a lot simpler than you think because the starting point is right in front of you.  All you need to do is take three minutes to watch this quick video and I’ll pinpoint the three questions you need to ask yourself in order to develop a highly effective networking strategy specifically tailored for you and your business.

Networking works.  It’s just a matter of crafting a plan that will put you in contact with the right people.  Once you ask yourself the questions in this video and nail down the answers, you’ll be well on your way to networking smarter for maximum results.

This video comes from the educational video archive housed within NetworkingNow.com and it is just one example of the vast array of educational content offered on the NetworkingNow.com website—there are literally hundreds of business and networking downloads available in the site’s online library and you can access all of them for FREE for six months by entering the free subscription code given below.

The free subscription is a gift from BusinessNetworking.com and all you have to do is enter the code(“freesixmonths”) on NetworkingNow.com to gain access to the entire library of content!  Please note that you will be required to enter a credit card number on the site but you will not be billed for the free six month membership.  You will need to end your subscription if you don’t wish to be billed for the second six months.

Please leave a comment regarding your thoughts on this video and also letting me know what type of downloadable content you most like to access on sites like NetworkingNow.com:

  • Video?
  • Audio?
  • PDF Articles?
  • Digital Books?
  • Something Else? If so, what specifically?

The #1 Tip for Hitting the Target with Marketingstring(48) "The #1 Tip for Hitting the Target with Marketing"

Marketing isn’t something I was always confident about.  When I first started out in business, my degrees were in Political Science and Organizational Behavior.  I had very little marketing experience until I went to work for a transportation company in Southern California and, within a two week span, went from a role in purchasing to a significant role in marketing–a huge change that was an even bigger learning experience.

My marketing experience was trial by fire and reading.  I just started reading books on marketing and learned as I went, and it was that experience that gave me enough knowledge to do some marketing on my own when I later set out as a business consultant.

 

Marketing Target

Image courtesy of nokhoog_buchachon / FreeDigitalPhotos.net

If somebody had asked me when I was 25 where I saw myself career wise in thirty years, I would have had no clue that my career would be all about marketing . . . that I would be the Chairman of the world’s largest referral marketing organization.  Sometimes we go places in life we never expected to go but I wouldn’t change a thing about the career path I chose.  I am passionate about helping people grow their businesses and achieve great success through effective referral marketing and after spending over two decades devoted to this work; I really enjoy knowing that the work I do allows me to pass on the marketing knowledge and experience I’ve attained in order to benefit to others.

I was recently asked what my top marketing tip would be and I think it’s really all about building the brand–either the brand of the company or of the individual, depending on the kind of business that you’re in.  Name recognition–that’s the biggest challenge, especially for small companies.  It’s not the same for everybody because every business is a little different and people’s skill sets are different.  For me, in my business, brand building has largely been about writing.  Before the internet I was trying to get articles in newspapers and magazines.  Now it’s much, much easier.  In this age of blogs and social media, even small companies have a global reach.  The problem is all the white noise that’s out there: with so many people wanting a piece of the action you have to be able to stand out.  So, for me, the top marketing tip would be to write, write, write.  Become an expert in your field so people want to follow you because when they follow you, they’re more likely to do business with you.

 

I’d love to hear how you’re making your mark with marketing–what is your top marketing tip for the other business owners out there reading this blog?

What Marketing Genius Thought of This?string(38) "What Marketing Genius Thought of This?"

 

It was 11:30 AM in Paris last Wednesday and Beth (my wife) and I had a lunch meeting that was set for 12 noon with a couple business associates. As we headed out to the curb to get into a taxi in order to drive to the restaurant, we noticed something odd. There were no taxis in the taxi stand in front of our building!

Unbeknown to us, the taxi drivers in Paris, were all on a two-day work stoppage (yes, a strike) in protest of the “Uber” App, (a personal sedan service that can be requested via an app) which has been cutting into their profits, according to the taxi drivers.  Apparently, they are hoping that the French government will ban the use of Uber in France!

We have used Uber with great success in the United States, and had not thought about using the app while here in Paris. It has been so easy, frankly, to just step outside and into one of any number of waiting taxis, that we didn’t need Uber.

But standing on the curb in the quickly intensifying sunshine with little time to spare to get to our appointment, we wondered if there was any chance of using the app now to book a car for our lunch. Beth tapped the app on her iPhone and within seconds we received confirmation that our Uber sedan would be with us in 15 minutes. After only six minutes, the car pulled up on the curb in front of our building.

Anyone who knows me at all, knows that I put a high premium on a company’s ability to under promise and over deliver. They definitely did just that in the humid Paris heat!

As we headed to our lunch meeting, we began talking about the irony of the taxi drivers’ strike actually driving us (pun intended!) into the waiting arms of the very competitor they were protesting! What marketing genius thought of this blunder-head idea!? To me this is the perfect example of something I call the “unintended consequences of a ‘seemingly’ good idea.” Did no one have a conversation about how this would actually play out? Maybe something like – “let’s see, why don’t we go on strike to protest an online application that will – oh, actually force people to use that online application while we’re all sitting at the brasserie enjoying croissants.” Yea, really smart.

Because of their actions, we have now been reminded of how easy and pleasant using Uber is. There is no money to change hands – all payment arrangements are done through the app. We can enter the request for a car while finishing up whatever it is we are doing and then head straight out into the car once we receive the text notification that it has arrived. We can actually watch the progress of the car as a GPS tracker shows an icon for it en route on our Uber app’s map. Even better – the vehicle is very clean and professional (we drove in a Peugeot to the restaurant and in a Mercedes on the way back – AND it was less than a taxi ride!).

I really like the emailed receipt after being dropped off at our destination. It shows what the average speed of the drive was, the duration of the drive and the final amount. Even better is that Uber ROUNDS DOWN to the nearest dollar! I mean, who actually does THAT?

So, I would like to take this opportunity to thank the taxi drivers who held this work stoppage for reminding me how amazing their competitor really is. Talk about the law of unintended consequences! I wonder how many other people took advantage of this strike to become new Uber customers. I can tell you that I will be requesting an Uber car more frequently on this trip now as a result of the strike.

Epilogue – Note to the Paris Taxi Driver’s Association:

Dear Paris Taxi Driver’s Association, the year is 2014. The internet actually exists and will most likely not disappear no matter how often you go on strike. The Genie cannot be put back into the bottle. Rather than try to “ban” a competitor who actually had a good idea – why not create your own app (as some taxi companies around the world have!) and join the rest of us in the 21st century.

Just a thought.

 

 

The Top 2 Things You Must Do to Succeed at Networkingstring(53) "The Top 2 Things You Must Do to Succeed at Networking"

Last week, I was asked a question by a young business owner who is quite new to networking.  She asked me what I believe to be the most crucial things a person needs to do in order to achieve the maximum amount of success in generating business referrals through word-of-mouth marketing.  In response to her question, I’d like to revisit a video I filmed a while back because in it I talk with Terry Hamill, a respected business networking expert based in Europe, and he  Terry explains the two most important keys for maximum effectiveness and success in business referral generation–preparation and follow up.

Terry advises that the true gold is in the follow up and that the most successful networkers use the strongest follow-up methods; he also offers a few important tips for preparation prior to attending networking meetings and events.

Do you have a favorite follow-up method or a highly effective preparation tactic that you use prior to attending networking functions?  If so, we’d love to hear about it!  What works well for you could really help other people in their journey to networking success so, by all means, please feel free to share your favored methods and tactics in the comment forum below. Thanks!

How to Meet the RIGHT Peoplestring(28) "How to Meet the RIGHT People"

A networking event is not–I repeat not–designed to bring strangers together for the purpose of referring themselves to one another.  Why would you refer yourself to someone you barely know?  A typical networking event is designed to have people who don’t know one another meet and mingle.  But for a networking event to be fully productive for you, you must meet the right people for the right reasons.  Meeting the right people will make a positive impact on your business and give you a high return on your networking investment.

Handshake

Image courtesy of jannoon028 / FreeDigitalPhotos.net

So, at a networking event, how exactly do you identify the right people to meet?  You do this by considering two types of individuals: those serving your preferred clients and those who have the potential to help you meet your business goals.  Today I’d like to focus on looking at those who serve the same professional client as you.  “Hey, aren’t those folks likely to be my competitors?” you might wonder.  Not necessarily.

Consider these two examples:

  • Lorraine is a real estate agent whose preferred clients are retired home owners or empty nesters with assets over $1 million, who love to travel, are country club members, and seriously pamper their pets.  Other suppliers for their services might include high-end salons and spas, professional landscapers, financial advisors, country club owners, travel agents, home-cleaning service providers, and pet resorts.
  • Tanya is the owner of a direct-mail company that targets colleges and universities.  When Tanya could not determine who else serviced the decision makers at the university, her marketing coach asked her if she had a current client in that preferred market.  She said yes.  Then she was asked, “How well do you know her?  Will she take your call?  Would she grant you thirty minutes of her time?”  Tanya emphatically replied, “Yes!”  Her coach then suggested that she schedule a purposeful meeting and sit down with her to pick her brain on who she grants her time to and who else supports her needs.

Your preferred clients have many suppliers for their needs and it could be in your best interest to connect and build relationships with those other suppliers so, when networking, you want to focus on meeting these people.  The answers to the questions that were asked of Tanya helped direct her to the people she should be searching for while networking.  You can gain the same benefit by having a similar conversation with one of your preferred clients and asking questions like these: “Who else solves your daily problems?” ; “Who do you allow in the door?” ; “What companies do you call on when you need (product)?” ; “Whom do you trust when it comes to helping you (type of service)?”

At networking events, look for name tags that fit specific professional categories you’re seeking to cultivate.  If you meet a professional who services your preferred client–and you like the individual as a person–consider this the first step in building a new relationship.  If you build a trusting and giving relationship with someone who provides services for your preferred client market, it stands to reason that your referral potential will increase dramatically.  Remember that in a true tri-win (that’s win-win-win) relationship, that person’s referral potential will also increase, and the client will get the best service possible.

Be sure to come back next week as I’ll be posting specifically about the other types of people you want to focus on meeting while networking–those who can help you meet your business goals.

In the meantime, I’d love to hear any stories you may have about how you successfully built a relationship with someone who serves the same professional client as you do and how that relationship has benefited you and/or the other service provider .  Please share your experiences in the comment forum below–thanks!

 

 

Ya Gotta Know Your Audience!string(28) "Ya Gotta Know Your Audience!"

Image courtesy of stockimages / FreeDigitalPhotos.net

Image courtesy of stockimages / FreeDigitalPhotos.net

We were having some wine the other night with a friend who had just come from a private jet show in Geneva, Switzerland (sounds like fun!). He was telling us about what a great job one of the exclusive, high-end private jet companies had done to wow their potential customers.

He said that they gave a new iPad to each invited guest in which they had loaded all the specs for their various jets, including apps that let the prospects choose the plane they were interested and create a custom interior from all their choices – woods, carpeting, leathers, etc . . . They could see what their new plane would look like right there on the spot. Brilliant!

Everyone seemed extremely impressed with this high-tech marketing tool, until it was handed to someone my friend recognized immediately – Bill Gates, Founder of Microsoft.

His words? Something like, “Thanks, but no thanks.”

Someone had failed to think about how the Founder of Microsoft would react to being handed an Apple product to use in the process of a potential sale. It’s a small detail, you may think, but you really have to know your audience. What may seem like a small detail to you could end up being huge to your potential customer and could make or break the deal!

Have you witnessed a situation where someone didn’t think about their audience and blew an opportunity? If so, please share it here–I’d really like to hear about it.  Thanks!

Free Monthly ‘Networking Cafe’ Webinar–You’re Invited!string(78) "Free Monthly ‘Networking Cafe’ Webinar–You’re Invited!"

In this video, filmed at a recent networking conference in Nashville, TN, I talk to my good friend and partner in the Referral Institute®, Eddie Esposito, about the monthly Networking Cafe webinars we offer to the public.  These FREE monthly webinars offer invaluable information about how to grow business through networking and referral marketing and we often have guests on the webinar who are experts at helping people achieve business success.  Past guests include Jack Canfield, Michael Gerber, and Susan RoAne, among others.

These “Networking Cafe” webinars take place on the last Friday of each month and all you need to do to find out how to participate (we welcome you to ask questions during the webinar) for free is to visit the following link: http://referralinstitute.com/index.php/en-us/networking-cafe.

Thanks so much for watching this video and I really hope to interact with you on one of the upcoming webinars in the near future.  Also, if you have any suggestions for topics which you would love to have addressed on a future webinar, by all means, please leave your topic suggestions in the comment forum below–I’m  more than happy to address all valuable and relevant topics.  Thanks!

Is It Possible Your Follow-up Tactics Aren’t Doing You Any Favors?string(72) "Is It Possible Your Follow-up Tactics Aren’t Doing You Any Favors?"

I once had an interesting conversation with an associate who was surprised that she’d gotten flak from a referral source for taking five days to follow up with a prospect that the referral source had referred to her.  My associate explained to me that she doesn’t like to follow up with prospects for four or five days because she doesn’t want the prospect to feel like she’s too eager.

I told my associate that I strongly disagree with her follow-up strategy.  My reasons why are outlined in the following paragraphs . . .

When building relationships, it’s always important not to let much time lapse without following up the first contact. Within twenty-four to forty-eight hours, send your prospect a note expressing your pleasure in communicating with her. It’s still too early, though, to send business literature or make any move toward sales promotion.

Follow up early, but don’t push beyond the prospect’s comfort level. Once the prospect has expressed an interest in your products or services, provide information about them, but don’t force it on her. Continue presenting your products or services, but avoid the hard sell. Focus on fulfilling her needs and interests. Your goal should be to keep your prospect aware of your business without annoying her.

Remember, to secure the long-term loyalty of your prospect and convert her into a customer, you must first build a relationship, and that relationship must develop through the visibility, credibility and profitability stages. It may take a while, but if you’ve selected and briefed your sources well, you’ll speed up the process.

Always, always, always remember to follow up with people, in any situation, at the very least within seventy-two hours. There’s a reason people commonly say that the fortune is in the follow up . . . when you follow up quickly with people, your reputation will benefit, your business will benefit, and eventually your pocketbook will benefit as well.

Do you have any unique and effective ways of following up which have helped you attain success consistently?  If so, I’d love to hear your tactics–please share them in the comment forum below.  Thanks!

The Four-Letter Word That Should Be in Every Networker’s Vocabularystring(73) "The Four-Letter Word That Should Be in Every Networker’s Vocabulary"

“Sell” may be a four-letter word, but it’s certainly not a “bad” word . . . far from it.  “Sell” is a word that should be in absolutely every networker’s vocabulary.

 

I can’t tell you how many times I’ve run across businesspeople over the years who are fantastic networkers, but they think that just because they know how to network, they don’t need to know how to sell. They think that people will like them, and then their products or services will sell themselves. This kind of mentality is unfortunate because people who think this way may be leaving business on the table.

Anybody who’s experienced and successful in referral marketing will tell you that sales skills are needed in every part of the referral marketing process–not just in closing the sale with the prospect.

From the very beginning, you must sell yourself to your potential referral source. A referral is not a guaranteed sale; it’s the opportunity to do business with someone to whom you’ve been recommended. You still have to close the deal. You have to make it clear that you know how to sell, and that you can and will provide the products or services you’re expected to provide. If you can’t make that first “sale,” your potential referral source won’t become your referral provider.

Beyond selling yourself to the referral source, you have to sell yourself to the prospect to get that first appointment. Then, once you’ve made the appointment, you have to persuade the prospect to buy your product or service. This is the part that usually comes to mind when you hear the word “sell.” However, in referral marketing, closing the deal with your prospect is neither the beginning nor the end of the selling process. The sales process is all about keeping an ongoing relationship with the client or customer. This is something that the best referral marketers know and understand.

 What are some of the tactics you use to continually sharpen your sales skills and/or ensure that you continually invest in an ongoing relationship with your clients/customers to actively keep the sales process afloat?  I’d love for you to share your thoughts and ideas in the comment forum below–thanks!

Give Me One Good Reason I Should Do Business With Youstring(53) "Give Me One Good Reason I Should Do Business With You"

SHARK-TANKA few months ago, I started watching some episodes of “Shark Tank” and I got hooked!  There are some serious business lessons that can be learned by viewing the show and I saw one of them last week while I was watching a rerun from a previous season (it’s sad, I’m completely hooked now and I’m checking out past episodes).

There was an entrepreneur on the show by the name of Raven Thomas.  Raven started a food business called, The Painted Pretzel (pretzels covered with chocolate and other confectionaries).

She had a pretty good business and, according to the panelists (The Sharks), a product that was delicious. After a fair amount of discussion, Lori Greiner (one of the Sharks) got down to the end of the conversation and asked, “Why should we invest in you?”   I realized at that moment that this was the big question and I knew Raven’s answer could make or break the deal.  Raven replied to Lori with… “The main reason is that I have two little kids and . . . (blah, blah, blah, blah, blah).”  I immediately paused the show, looked to my wife Beth, and practically screamed “She just blew it!  She totally gave a relational answer to a bunch of transactional SHARKS!  They don’t care about blah, blah, blah, blah, blah, they want something closer to ‘show me the money’ than ‘I love what I do!’” 

Beth replied, “You have to know your audience when you are talking about your business.” Her statement was spot on.   Before I started up the episode again, Beth and I talked about how crucial it was for Raven to speak the language that the Sharks speak if she wanted them to invest in her.  She needed to speak a language focused on opportunity, growth, ROI, and cold hard cash.  Instead, Raven talked about how she felt about her business and how it related to her children.  Her answer failed to include anything at all that the Sharks would relate to as serious, analytical business investors looking for reasons to convince them Raven’s business would be a wise financial investment.

I resumed watching the episode so I could witness the train wreck which I was sure was about to ensue.  To my astonishment, Robert Herjavec gave Raven a “do-over” (I really like this Shark – if I ever have the chance to be a panelist on a business show, I’d like to think my style would be similar to his).  Robert looked at Raven and gave her a chance to give a better answer by saying to her, “Let’s do that again.She took a moment and said, “A good reason to invest in me is that I had to walk away from a $2 million deal because I did not have the capital to fill the order . . . and that door is still open.” This answer was a show stopper—it completely landed the Sharks’ attention.  Within a few moments, Mark Cuban (Shark and owner of the Dallas Mavericks) offered Raven $100,000 cash and distribution of her product at his stadium and at each location of the movie theater chain he owns!  She, of course, said yes to Mark’s offer.  As a result, she now expects that her company’s sales will exceed $1.2 million dollars this year!

The lesson to be learned here is that it is absolutely imperative to know your audience and tailor your comments to suit the people you’re talking to.  This is an extremely important lesson in both the business arena and the networking arena.  In fact, it’s one of the main reasons why I recommend that when you first meet people, you begin by asking them questions about themselves prior to speaking in length about yourself.  The more you know about the people you’re talking to, the better able you will be to craft your own message in a way that effectively resonates with them.

I’d love to hear either a success story or a horror story that you might have about people “knowing” or “not knowing” their audience.  Please share your story in the comment forum below. Thanks!

Facts + Stories = Powerful Messagesstring(35) "Facts + Stories = Powerful Messages"

In this video, I talk to Ireland-based business networking expert Sandra Hart about the importance of embedding the facts about your business within the form of a story.

When you’re networking or advertising for your business, the most powerful way to present your message is to use a story to ensure your message is heard.  Facts by themselves are, for the most part, simply not memorable to most people.  If you are a banker and you tell people that you specialize in offering low-interest home loans, people may remember that your bank offers loans, but whether or not they remember what kind of loans you specialize in is left to chance.  However, if instead of simply stating that you specialize in low-interest home loans, you tell a story about how you helped a young family of four to overcome their financial struggles by granting them a low-interest home loan, and how this enabled them to purchase their dream home in the sought after Sunny Pines community, you can bet people are going to remember you when they run across someone looking for a home loan.

Remember, facts only tell but stories sell . . . why is this?  Because people don’t emotionally connect to facts.  People emotionally connect to stories and this is what makes stories memorable.

What is an example of a memorable story you could tell about your business that would powerfully present a fact (or several facts) about the products/benefits/services your business offers?  Please share your story in the comment forum below.  Thanks!

1 2 3 4 5 6 21