tag:blogger.com,1999:blog-79955732057612240452024-03-19T02:32:21.213-07:00Marketing 2 InvestorsInvestors are a different breed of consumer. Marketing 2 Investors provides tips, thoughts and commentary on ways to better locate, serve and organically grow your base of investor clients.NuWire Investorhttp://www.blogger.com/profile/02512928198926080436noreply@blogger.comBlogger35125tag:blogger.com,1999:blog-7995573205761224045.post-29141820087601996232013-09-11T09:57:00.002-07:002013-09-11T09:57:34.679-07:00Institute a Referral Marketing Program Now<div class="MsoNormal" style="line-height: 14.25pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<b><span style="color: #333333; mso-fareast-font-family: "Times New Roman";">A Powerful and
Inexpensive Way to Get More Clients<o:p></o:p></span></b></div>
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<span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">In this article I’m going to show you how to
get more clients by using a maneuver that nearly all of use periodically. It’s
a tactic that can land you lots of new customers without you spending a dime to
acquire them.</span><span style="color: #333333; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">The problem with this tool is that it’s rarely
formalized, and as a result business owners <u>significantly underachieve</u> on
reaching their full potential.</span><span style="color: #333333; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<b><span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">The power of referral marketing</span></b></div>
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<span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">So what’s this powerful, inexpensive tactic
that offers such an amazing customer building opportunity for business owners?</span><span style="color: #333333; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Referrals.</span><span style="color: #333333; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Yep – referrals. Referrals are one of the most
powerful sales generating tools around. And all too often marketers fail
to reap the full rewards that referrals bring because they don’t have a
formalized, systematic process in place. </span><span style="color: #333333; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<b><span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">How referrals generate their power</span></b><span style="color: #333333; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Referrals get their power from the fact that
consumers are naturally inclined to be weary of advertisements and sales
pitches. To get around this weariness, we consumers instead resort to asking
our family and friends for advice. Since we tend to trust the advice of our
loved ones and assume that they have our best interests at heart, we tend to
act on their referrals.</span><span style="color: #333333; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">And of course… seeking out advice is
significantly easier than doing our own research! Why not follow the advice
from someone that has your best interests at heart, and has already done the
research and experimenting for you?</span><span style="color: #333333; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<b><span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Science proves it!</span></b><span style="color: #333333; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Studies show that:</span><span style="color: #333333; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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are 200% more likely to pay attention to recommendations that come from
friends than from <b>any other source</b></span><span style="font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></li>
<li class="MsoNormal" style="color: #333333; line-height: 14.25pt; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">According
to the Wharton School of Business, a referred customer has a lifetime
value that’s 16% <b>higher</b> than those of non-referred
customers</span><span style="font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></li>
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satisfied customers say that they’re willing to refer, while only <b>29%</b> of
them actually do! (This means there’s a significant opportunity to for
you.)</span><span style="font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></li>
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<span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">So there you have it. Referrals results in
more customers, increases the value of customers to your business, and there’s
significant opportunities to increase the odds that your customers will refer
your business.</span><span style="color: #333333; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<b><span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">How to quickly double your referrals in 3
simple steps</span></b><span style="color: #333333; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<b><span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Step #1</span></b><span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">:<b> </b>Ask.
Yes, really, just ask. Far too many business owners miss the boat on this easy,
yet critical step. And when you do ask, don’t just ask: “Hey, do you have
anyone in mind that you could refer my services to.” No – you’re way better
than that!</span><span style="color: #333333; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Instead, frame your question like this: “I
really enjoy doing business with you, and I’m sure you’re friends with other
people who share your high values and taste. <u>Who</u> do you know
that could benefit from my services?” Notice the difference? This subtle yet
powerful difference has a dramatically different impact on a client because it
already assumes that your client knows someone who’d benefit from your service.
And, it forces your client’s brain to start scanning around for people they know.
Your client almost can’t help BUT give you name.</span><span style="color: #333333; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<b><span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Step #2</span></b><span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">: Get their contact
info. As soon as your client shares a name, ask them to <u>spell</u> their
name, then you repeat it back - twice. Spell then repeat twice. Spell then
repeat twice. Easy. Then immediately ask for their phone number. Since most
people have their mobile attached to them 24/7, chances are your client has
instant access to the referred person’s contact info (if your client doesn’t
have their phone number, ask if they can connect the two of you though email
for Facebook).</span><span style="color: #333333; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<b><span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Step #3: </span></b><span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Contact
the referral immediately and make a compelling offer. Don’t make the mistake
that 98% of other business owners make and sit on the referral for weeks. Call
them the same day. Follow-up immediately and make a compelling offer. The
longer you wait the less powerful your referral becomes and the <u>less
likely you’ll ever reach out to them</u>.</span><span style="color: #333333; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Stumped on what a compelling offer could be?
It’s much easier than you think. Examples:</span><span style="color: #333333; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<li class="MsoNormal" style="color: #333333; line-height: 14.25pt; mso-list: l1 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">If you
sell homes, invite the prospect to a monthly lunch and learn where they
can get free food and advice on market and interest rate trends</span><span style="font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></li>
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you’re a personal trainer, offer a free 20-minute health assessment. (A
good friend of mine offers “Go Giver” bootcamps to prospective clients
– </span><span style="color: windowtext;"><a href="http://goimpactstrength.com/adultfitness/go-giver-charity/"><span style="color: blue; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">check it out</span></a></span><span style="font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">. This tactic works like
gangbusters for their business.)</span><span style="font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></li>
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you’re a copywriter, offer to do a free assessment of the prospect’s
website homepage</span><span style="font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></li>
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you’re a Search Engine Optimization (SEO) expert, offer to do a free
keyword search for your client and advise them on several improvements
they could make</span><span style="font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></li>
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<span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">This is list could go on and on. The point is:
ask for the referral, immediately get the referral’s contact name, and contact
the referral that same day with a compelling offer. That’s all you need to do!</span><span style="color: #333333; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<b><span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Wrapping it up</span></b><span style="color: #333333; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<span style="color: #333333; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">If you follow these 3 steps, you <u>will</u> dramatically
increase the number of referrals that flood into your business. As opposed to
taking many weeks and months to land new business through online and offline
advertising, referrals can lead to new business in a day. And remember,
referred business = more frequent, and more profitable business. </span><span style="color: #333333; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<span style="color: #333333;">Contributed by Dennis Paresa</span></div>
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<i><span style="font-size: 12.0pt; line-height: 115%;">Dennis protects business owners from
wasting their money on marketing that doesn’t work. He’s a marketing &
innovation consultant who helps business owners increase sales, become more
productive, and leave a legacy. Visit him on the web at </span></i><a href="http://www.dennisparesa.com/"><i><span style="font-size: 12.0pt; line-height: 115%;">www.dennisparesa.com</span></i></a><i><span style="font-size: 12.0pt; line-height: 115%;">. <o:p></o:p></span></i></div>
NuWire Investorhttp://www.blogger.com/profile/02512928198926080436noreply@blogger.com589tag:blogger.com,1999:blog-7995573205761224045.post-15918737870204645132008-06-10T10:46:00.000-07:002008-06-10T10:50:59.342-07:00Five Ways To Provide More Certainty For Your Clients<a href="http://www.nuwireinvestor.com/blogs/marketing2investors/uploaded_images/certainty-732508.jpg"><img style="FLOAT: left; MARGIN: 0px 10px 10px 0px; CURSOR: hand" alt="" src="http://www.nuwireinvestor.com/blogs/marketing2investors/uploaded_images/certainty-732493.jpg" border="0" /></a><br /><div>Yesterday, I wrote a post about the need for data to help provide some level of certainty in a volatile market. Yet there are additional ways to help provide more certainty for your clients. Here are a few ideas:</div><br /><ol><br /><li><strong>Focus on cash flow</strong>: Rapid expansion in deal flow based on speculation tends to lead to bubbles. Investments that bring in cash flow are much less risky and offer much more flexible holding periods.</li><br /><li><strong>Reduce the leverage</strong>: The vast majority of problems in market downturns are the result of leverage. Investors who have purchased investments in cash can usually afford to wait out downturns in any market. Many borrowers don’t have this luxury. In down markets, cash rules and is typically able to find great asset bargains.</li><br /><li><strong>Help plan for due diligence</strong>: Help coach your clients through conducting a formal due diligence process. Sit down with them before you look at properties or opportunities and decide under what scenarios and terms an investment is a good fit. It’s easier to be rational before you are actually looking at deals that require down payments or signed contracts. Then take them shopping for the opportunity that fits their chosen profile.</li><br /><li><strong>Practice what you preach</strong>: If you can’t have certainty, it certainly helps to know that other intelligent people are also investing in the same thing. Some refer to this as the lemming factor. One could also refer to it as the respect factor. I wouldn’t hesitate to put my money in with Warren Buffet’s on any transaction. It’s also hard to win the respect of your clients if you don’t <a href="http://www.nuwireinvestor.com/blogs/marketing2investors/2008/04/improve-buyer-confidence-invest-in-what.html">buy what you sell</a>.</li><br /><li><strong>Use testimonials and other investors</strong>: As an extension of #4, it is helpful for investors to connect with other people who are investing. This can not only aid in expanding their knowledge of the market, but also assure them that they’re not the only one buying right now.</li></ol>Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com323tag:blogger.com,1999:blog-7995573205761224045.post-37160699122005027652008-06-09T10:27:00.000-07:002008-06-09T11:29:16.472-07:00Show Me The Data<a href="http://www.nuwireinvestor.com/blogs/marketing2investors/uploaded_images/jerry_maguire-724779.jpg"><img style="FLOAT: left; MARGIN: 0px 10px 10px 0px; CURSOR: hand" alt="" src="http://www.nuwireinvestor.com/blogs/marketing2investors/uploaded_images/jerry_maguire-724769.jpg" border="0" /></a> <div>On Friday I had an interesting phone conversation with Tim Miner of <a href="http://www.investmentriches.com/">Investment Riches</a>. He was talking to me about his changing business model and shared an interesting statistic. Two years ago, when he was in the beginning stages of his website launch, more than 70% of his surveyed readers felt confident that they understood their local market. In the most recent survey, less than 15% still felt confident.</div><div><br />This is not surprising if you consider that investors tend to become overconfident in their own skills when the market is good and overly insecure when the market is bad. This is similar to the change in investors' perceptions of their understanding of the stock market after the dot-com bubble.</div><br /><div>What it means is that there is opportunity for investment providers that can help their clients feel comfortable with a market or investment. Consumer confidence is at a <a href="http://www.conference-board.org/economics/ConsumerConfidence.cfm">16 year low</a> because people don’t know what to expect. Uncertainty begets fear.</div><div><br />While you can’t give your clients full certainty in terms of a guarantee without the likelihood of violating investment regulations, you can provide them with the information to help them understand the market, the risks and the changing investment climate.</div><div><br />The good news, for anyone in the industry, is that there isn’t one clear investment that investors feel certainty about right now. That wasn’t the case nine years ago when investors were certain about the stock market. It also wasn’t true three years ago when investors were certain about the real estate market. With inflation continuing to spike the prices of food, transportation and commodities, investors are losing purchasing power by doing nothing. Historically hard assets retain their value much better than fiat currency.</div><div><br />Jerry Maguire may say, “show me the money,” but uncertain markets say, “show me the data.”</div>Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com403tag:blogger.com,1999:blog-7995573205761224045.post-62900714344549448232008-05-28T10:58:00.000-07:002008-05-28T11:04:56.028-07:00Dealing With Client DisputesIn my personal experience, I’ve found that the easiest way to anger anyone is to make assumptions about their intentions, their character, their intelligence or their actions. I was reminded of this when I disputed a small charge on one of our corporate cards this week. I received a blunt e-mail that ending with the following:<br /><br /><br /><blockquote>“So how does this make us liable to refund your money? We state clearly in<br />our terms that we do not issue refunds on membership fees after 7 days. However,<br />you are opening a claim nearly a month later?<br /><br />I am happy to assist you within reason, but it appears you did<br />not attempt to understand how the service works in the first place.”</blockquote>In my mind, I had a good reason for not submitting a claim until 30 days later, namely that we hadn’t received (and thus reviewed) our monthly credit card statement. I also felt that I had attempted to understand how their service works and did not find it suitable for our company. Although this gentleman’s comments weren’t blatantly malicious, they did come across as impetuous. I found myself getting emotionally charged and reading tone into his questions.<br /><br />Here are five quick tips for making sure you don’t alienate your clients when dealing with a dispute with your business:<br /><br /><ol><li><strong>Always give your clients the benefit of the doubt</strong>. Assume the best intentions. Nine times out of ten, you'll find that their intentions were good. Assuming anything else is a recipe for anger escalation.</li><li><strong>Ask clarification questions in a respectful tone</strong>. There are two ways to answer a question. You can ask a question looking for an answer or you can ask a rhetorical question, where you phrase it in a way that sounds like you already know the answer. Be careful: Rhetorical questions come across as condescending.</li><li><strong>Don’t take it personally</strong>. It’s difficult to listen to people complain about your product or service, which you probably have great pride in, without taking it personally. Yet removing yourself emotionally is the only way to ensure you make decisions based on what’s best for the business and not your own personal sense of justice.</li><li><strong>Remember that the customer may not always be right, but the customer always wins</strong>. It’s not worth winning a battle that ultimately costs you the war. The customer always wins, whether it is by finding an amicable solution or by talking negatively about your business.</li><li><strong>Make sure your client feels heard</strong>. There is nothing more frustrating than feeling like a business is not listening to you. You can make clients feel this way by making assumptions and filling in the blanks. Resist the temptation. Listen and you may discover that the problem is much different than you originally thought.</li></ol><p> </p>Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com429tag:blogger.com,1999:blog-7995573205761224045.post-41502234883662669882008-05-21T09:50:00.000-07:002008-05-21T10:18:49.609-07:00Marketing Insight: Using “Funny” In Your Advertising<span style="font-family:arial;font-size:85%;">There is a reason companies pay the million-dollar-plus premium to reserve ad space during the Super Bowl: Brand recognition. But in a day and age when ad agencies are creating as many creative hits as they are nonsensical misses, the question must be asked: In marketing, when does using “quirky” and “funny” actually make sense?</span><br /><br /><span style="font-family:arial;font-size:85%;">One of the more challenging issues in blanket marketing is recognizing your audience—or, rather, marketing to all audiences. This is made even more challenging by the simple fact that what’s funny or quirky to a 14-year-old (namely, bathroom humor) is going to be different than what’s funny or quirky to a fiftysomething (aging humor, incontinence, etc).</span><br /><br /><span style="font-family:arial;font-size:85%;">The solution? Know thy audience. And tread carefully with the funny.</span><br /><br /><span style="font-family:arial;font-size:85%;">Now, I concede that “funny” is subjective. But that’s the point—your funny, quirky and creative new marketing or advertising campaign will work best if you can do two things: make it intuitive to viewers and get to the punch line quickly. The less your readers have to think or try to make sense of what you’re saying, the better. </span><br /><br /><span style="font-family:arial;font-size:85%;">In 2006, in an effort to further its foray into resurrecting classic trends, the Gap made what was in my opinion a fatal marketing mistake with a simple and honest pair of pants. Their product, the newest rendition of the “new” black peg-leg flat-front pant, was sure to be a worldwide hit. Classic? Overwhelmingly, yes! I have a pair, my mother has a pair and so does my grandmother. Unfortunately, the Gap ad team also decided to resurrect one of the most sacred icons of fashion, the late, great Audrey Hepburn, and dub her dancing over the also-sacred AC/DC rock ballad “Back in Black.” Even worse? It was all in the form of iPod-wannabe animation, voiced over with lines from Hepburn’s classic, “Funny Face”:</span><br /><br /><object height="355" width="425"><param name="movie" value="http://www.youtube.com/v/acEG7MX7r3Y&hl=en"><param name="wmode" value="transparent"><embed src="http://www.youtube.com/v/acEG7MX7r3Y&hl=en" type="application/x-shockwave-flash" wmode="transparent" width="425" height="355"></embed></object><br /><br /><span style="font-family:arial;font-size:85%;"></span><br /><span style="font-family:arial;font-size:85%;">By trying to revive a classic that could, by most individual definitions, transcend generational trends, the Gap ad team managed to (in a failed attempt at quirky) make three fatal marketing mistakes: First, they corrupted a graceful film icon in a classic film (“Funny Girl”); second, they shamed a classic wardrobe staple; and third, they perverted a monster-ballad by rock legend AC/DC. And all in one minute and five seconds. </span><br /><br /><span style="font-family:arial;font-size:85%;">Now here is a refreshingly good and memorable example of funny, quirky, stick-to-your-ribs marketing and a personal all-time favorite: Tide’s “Tide To Go Stain Remover” Super Bowl commercial.</span><br /><br /><span style="font-family:arial;font-size:85%;">The Tide marketing team has an edge because of their product: Who doesn’t spill on their clothes? Their product is easily marketed to everyone including busy moms, suited working professionals, yearbook-picture-taking high schoolers and people of all ages who care about their appearance. This ad seals the deal by associating a relatable situation—an uncomfortable job interview—with their product. </span><br /><br /><object height="355" width="425"><param name="movie" value="http://www.youtube.com/v/Beubg6ARCRE&hl=en"><param name="wmode" value="transparent"><embed src="http://www.youtube.com/v/Beubg6ARCRE&hl=en" type="application/x-shockwave-flash" wmode="transparent" width="425" height="355"></embed></object><br /><br /><span style="font-family:arial;font-size:85%;">Here are three suggestions to market yourself using humor (carefully, now): </span><br /><br /><span style="font-family:Arial;font-size:85%;">1. Be only as funny as you need to be:</span><br /><p><span style="font-family:arial;font-size:85%;">Coming up with a game is a great way to get viral with your marketing. A favorite are the monkeys from CareerBuilder. I still send my friends, family and colleagues talking monkey e-cards. Perhaps I’m the only one who thinks they are funny. Why? Because monkeys don’t talk, and when you dub a female British voice over a video of a male monkey chewing gum and wearing a fruit basket on its head and send it to your friend, it’s just plain funny. </span></p><p><span style="font-family:arial;font-size:85%;">2. Don’t take yourself too seriously (but beware the limits)</span></p><p><span style="font-family:arial;font-size:85%;">In the ever-stuffy environments of insurance, banking and office supplies, who can forget the dancing elves from Office Max, or the naked bank executives from Washington Mutual?</span></p><p><span style="font-family:arial;font-size:85%;">3. Funny and quirky are almost always applicable</span></p><p><span style="font-family:arial;font-size:85%;">Particularly when involving something that isn’t traditionally funny. Axe body wash/spray is a great example. Is body odor funny? Only if you’re a 10-year-old boy, and it’s not your own. Otherwise it’s embarrassing. But the commercials are quirky and mostly funny because they make light of the idea that women will flock to men that smell good. Proceed with caution here, as this is a narrow truth.</span></p>Unknownnoreply@blogger.com279tag:blogger.com,1999:blog-7995573205761224045.post-53044441453266328392008-05-12T08:01:00.000-07:002008-05-12T08:14:31.450-07:00Google Me<div>Google has become more than the brand name of a search engine. It has made its way into the <a href="http://www.sci-tech-today.com/story.xhtml?story_id=013001G94OMZ">dictionary</a>, a <a href="http://youtube.com/watch?v=nrq-xOJgSB0">documentary</a> and even a <a href="http://youtube.com/watch?v=dMfy_2VLe1c">low-budget hip-hop video</a>. It has come to mean more than the mere act of looking something up on Google--it has come to mean the act of searching for information on a given person, place or thing on the Internet.<br /><br />Service providers and businesses should take note. It is likely that prospects are searching for you before and/or after meeting you.<br /><br />Anytime I receive an e-mail or am introduced to a new contact, the first thing I do is type their name into Google. This usually turns up link requests, interviews, content partnerships, etc., most of which are relatively benign. Yet that’s not always true: I’ve found notices from the SEC, information on campaign contributions, provocative personal pages on MySpace and even essays written by an individual when they were in high school.<br /><br />It has become more important than ever for service providers to be accessible through the Web. It has also become more important to manage one’s identity and perceived identity through the Web.<br /><br />You will be Googled.<br /><br />For you’re reading enjoyment, here’s an excerpt from the “About Me” page from the number one result when searching for my name, “Jeremy Ames.” From JeremyAmes.com:<br /><br /><br /><blockquote><p>Ok, if you have not figured it out, my name is Jeremy Ames. You are visiting my personal web site. Good stuff, right? Just kidding. Some of you may know me as Fizch. That has been my nick name for years and I use it as my gamertag as well as many other forum id's and online identities.<br /><br />I am from Arlington, TX. I have lived here most of my life. I like it here, and I will probably live here the rest of my life. I have seen other parts of the world, just not as many as I would like. I would still love to visit Europe, Australia, and even South America. It had just better be warm.<br /><br />I was born and raised a metal head. I grew up listening to Black Sabbath's paranoid. My dad would wake us up on the weekends blaring his old 8-track copy all the time. I have to say obviously I did not mind as it turned me into the<a href="http://www.nuwireinvestor.com/blogs/marketing2investors/uploaded_images/jeremyames_com-701218.bmp"><img style="FLOAT: right; MARGIN: 0px 0px 10px 10px; WIDTH: 244px; CURSOR: hand; HEIGHT: 155px" height="163" alt="" src="http://www.nuwireinvestor.com/blogs/marketing2investors/uploaded_images/jeremyames_com-701137.bmp" width="269" border="0" /></a> metal head that I am today. Thanks dad! I play thrash metal guitar and I have played the guitar for 15+ years. It is a passion that I developed in my teen years and I have always stayed in practice. It was not until recently that I felt comfortable enough with my playing to really pursue a position in a band though. When I learned to play, I was all about playing in a band, but believe me, it sounded like complete crap. I recognize that fact, thus I have held out until my playing ability was up to par with the type of music that I wanted to play.<br /></p><p></p></blockquote></div><br />You’ve been warned. Reserve the URL for your name today. <p></p>Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com197tag:blogger.com,1999:blog-7995573205761224045.post-86026402723431652892008-05-09T08:23:00.000-07:002008-05-09T08:24:50.309-07:00Sometimes It’s Best To Just Listen<p>“Women like silent men. They think they’re listening,” quipped French playwright Marcel Achard.</p><p>I think women are not alone. As consumers we are rarely listened to by salespeople. Too often we are steamrolled by pitches designed to address all sales objections, not cater to our specific needs. As a result we have a natural aversion to these sales pitches. They seem impersonal and manipulative.</p><p>Perhaps that’s why the most successful sales people I know are also the best listeners. They start conversations with questions and tailor their sales pitch to their client’s responses.</p><p>It also tends to help them when negotiating on behalf of their clients, as I was reminded by Raisin Bran Crunch’s infamous commercial:</p><br /><object height="355" width="425"><param name="movie" value="http://www.youtube.com/v/6JIqzT6aZwY&hl=en"><param name="wmode" value="transparent"><embed src="http://www.youtube.com/v/6JIqzT6aZwY&hl=en" type="application/x-shockwave-flash" wmode="transparent" width="425" height="355"></embed></object>Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com367tag:blogger.com,1999:blog-7995573205761224045.post-70617181851240128122008-05-08T14:35:00.000-07:002008-05-08T16:26:19.972-07:00Appearance Matters, But Be Different And Get NoticedHow you dress matters. How those around you dress also matters.<br /><br />If everyone y<a href="http://www.nuwireinvestor.com/blogs/marketing2investors/uploaded_images/sport-jacket-775303.jpg"><img style="FLOAT: left; MARGIN: 0px 10px 10px 0px; CURSOR: hand" alt="" src="http://www.nuwireinvestor.com/blogs/marketing2investors/uploaded_images/sport-jacket-775264.jpg" border="0" /></a>ou work with wears a suit and a tie to the office, a sport jacket with t-shirt could signal you are more laid back, real and entrepreneurial. If everyone you work with wears a sport jacket and t-shirt, a business suit can communicate a higher level of professionalism, dedication and work ethic.<br /><br />Nothing in this world is interpreted without context. This extends far beyond the clothes we wear. Those daring enough to be unique take a risk in straying from the norm, but also find great opportunity in being different.<a href="http://www.nuwireinvestor.com/blogs/marketing2investors/uploaded_images/business-suit-761493.jpg"><img style="FLOAT: right; MARGIN: 0px 0px 10px 10px; CURSOR: hand" alt="" src="http://www.nuwireinvestor.com/blogs/marketing2investors/uploaded_images/business-suit-761490.jpg" border="0" /></a><br /><br />Take a look at the websites in your industry. Are they all the same? Do they all offer the same message? If they do, there is an opportunity for you to be different and to single out part of the market that doesn’t want the same approach provided by everyone else. If your competitors are wearing suits, don a sport jacket and t-shirt. If your competitors are wearing sport jackets, don a suit. Look different and communicate differently and you will draw attention. Depending on what you have to say, that attention could be very positive.<br /><br /><br />Just keep in mind that it is possible to take it too far. As I was reminded by our associate editor, Trista Winnie, “There’s standing out, and there’s standing out like a sore thumb.”Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com140tag:blogger.com,1999:blog-7995573205761224045.post-16516327321899439202008-05-02T08:23:00.000-07:002008-05-05T14:50:23.542-07:00Don't Bombard Your Clients: Lessons From Maternity ShoppingMy wife is pregnant and hasn’t been feeling well lately. Attempting to be a supportive husband, I decided I would venture to the maternity clothing shop in our local mall to purchase her a belly band. This is an amazingly complex yet simple contraption that looks like a tube top, designed to allow pregnant women to wear their non-maternity clothes for a longer period of time. I still haven’t figured out the physics behind it, but apparently it works.<br /><br />I walked into the store, asked the cashier for a belly band and was being rung up within 30 seconds. Then the world slowed down. She wanted to know my address, my e-mail, our due date and my phone number. As an avid hater of spam in my mailbox (both of them), I am not usually a fan of giving out my information. I gave her my information anyway, despite being pushed to the edge of my comfort zone.<br /><br />“Would you like to receive two free issues of Parenting magazine?”<br /><br />“Sure.”<br /><br />“Have you thought about starting to save for your child’s education?”<br /><br />“Yes.”<br /><br />“That’s great, because we offer 529 education savings plans.”<br /><br />“I’m not interested, thank you.”<br /><br />At this point my defenses were completely up. This cashier had pushed past the point of comfort on the first sale and asked for too much. She then handed me a piece of paper with the Parenting magazine logo on it.<br /><br />“You just need to sign this to get your two free issues.”<br /><br />“Is this one of those free trial subscriptions where I have to cancel it or they will charge me?”<br /><br />“Yes, but it is really easy to cancel.”<br /><br />“No thanks, then.”<br /><br />What this situation reminded me of is how delicate a new relationship with a customer can be. I will likely never go back to that store--at least not without my wife. It wasn’t that they did anything horribly wrong, they just pushed too hard and reminded me that they weren’t there to help me as much as they were there to sell me as much product as possible. Had they taken my contact information, they could have developed a relationship over time via e-mail or snail mail. Maybe I would have taken a look at their savings plans for children or signed up for a trial subscription.<br /><br />No one likes feeling like a dollar value. Don’t bombard your clients. It puts them on the defensive and destroys your ability to build trust by consistently delivering value that is in their best interest.Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com103tag:blogger.com,1999:blog-7995573205761224045.post-29850239657842294612008-05-01T12:30:00.000-07:002008-05-01T12:43:11.587-07:00How You Frame Choices MattersSocial scientists Itamar Simonson and Amos Tversky conducted an experiment in a 1992 study based on how we frame choices. They offered their test subjects a choice between $6 or an elegant Cross pen. Only 36 percent of the subjects chose the Cross pen. They then incorporated a third choice, a less attractive pen, and asked test subjects to choose. Only 2 percent chose the inferior pen, but 46 percent chose the Cross pen when presented with all three options.<br /><br />Studies such as this have been repeated with various other products and tradeoffs. One I found particularly interesting involved microwave ovens. Subjects were given the choice between an Emerson priced at $110 and a Panasonic priced at $180. Both microwaves were on sale at one third of their regular price. Less than half of the subjects--43 percent--chose the Panasonic. Then the researchers gave subjects a third choice, a Panasonic priced at $200 that was only 10 percent off the regular price. Only 13 percent chose the $200 Panasonic, but this time 60 percent chose the $180 Panasonic.<br /><br />What these studies show is that consumers frame choices differently when presented with different alternatives. Simonson and Tversky proposed that when faced with a choice between x and y options, adding a 3rd option (z) that is inferior to one of the initial options (y) will increase the likelihood that the individual will choose y.<br /><br />How you frame choices for your clients matters. Are there ways that you incorporate this knowledge to help sell your product or service?Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com77tag:blogger.com,1999:blog-7995573205761224045.post-68769270053789919972008-04-30T08:36:00.000-07:002008-04-30T08:40:17.325-07:00Can You Make The Story Get Better?Business transactions can take a long time and require a fair amount of due diligence. This can be painful for both buyer and seller. Buyers, after the initial letter of intent is signed, must verify and validate all the information and numbers on which they based their offer. Sellers must ensure the buyers are provided with detailed information and don’t find reasons to pull out of the deal.<br /><br />A business broker friend, Scott, who has been involved in a hundred or so business transactions, once told me that the way to get a deal done is to plan the discovery process so that the story got better over time. I asked Scott what he meant by that. He replied that most sellers feed buyers with all the good information up front. Then, as they move through the due diligence process, they run out of new and positive information to share with the buyers. Buyers actually dive into and evaluate the risk factors of the business during the due diligence process. This almost inevitably includes discovering information that does not meet their expectations.<br /><br />Scott’s belief is that during the due diligence process is the most important time to communicate good news. This helps keep buyer enthusiasm high as the deal gets closer to completion. Scott even suggested reserving some of the good news and information to release during the due diligence process. Careful planning of how the story unfolds for buyers has seen consistent success for Scott across many deals.<br /><br />I think there are some lessons that service and investment providers can take from Scott’s experience. In any investment transaction that requires research and a reasonable amount of time before closing, it’s important to ensure that the story continues to get better. That’s the best way to ensure the buyer moves forward and closes the transaction. How can you make your story get better over time?Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com88tag:blogger.com,1999:blog-7995573205761224045.post-55922580755195471662008-04-29T08:00:00.000-07:002008-04-29T08:01:49.904-07:00Be Careful With E-mailI’ve heard many times that only a small percentage of what you communicate when you speak is done with the words. The rest is communicated through body language and tone. This obviously does not apply to e-mail.<br /><br />In an e-mail, your words are all that matters. That is, unless you have mastered emoticons and characters :). They allow you to tease or be sarcastic in an e-mail without fear of sending the wrong message. Yet teasing, sarcasm and emoticons are not usually appropriate for professional e-mails with your clients. That means your words will have to do. As such, it is important to pay attention to what you write.<br /><br />Yesterday, one of our editors forwarded an e-mail to me from a gentleman considering contributing some “how to” articles to our website. He suggested she review some of his current articles. She had difficulty finding these on his website and sent him an e-mail asking about where he kept the majority of his articles. She specifically asked for a URL. This gentleman interpreted her URL request as a sign that she didn’t know his website address. He sent her a shocked and curt e-mail asking if she even cared about the quality of content on our site, because he didn’t believe she had even taken the time to review his site.<br /><br />We absolutely do care about the quality of content on our site. Yet this gentleman’s e-mail was a valid response based on his interpretation of her e-mail. E-mail doesn’t let you communicate tone. It doesn’t allow you to obtain cues from the other party about whether they are following your train of thought. With that in mind, be careful when sending e-mails. Words matter.<br /><br />Here are two rules of thumb to keep in mind when writing and reading e-mail:<br /><br /><ol><li>As a reader: Give writers the benefit of the doubt. Don’t jump to conclusions and try to ask clarifying questions.<br /></li><li>As a writer: Make sure you express your thoughts clearly. It won’t take you receiving many fiery e-mails from clients or affiliates to figure out where you can improve.</li></ol>Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com108tag:blogger.com,1999:blog-7995573205761224045.post-5321312190318468722008-04-28T10:46:00.000-07:002008-04-28T10:47:31.016-07:00Should I Be Blogging?If you are a service provider or business that works with investors, you probably should be blogging. Blogging is a great tool for any business that specializes in products or services that cost a fair amount of money, involve considerable research or require a time investment after the purchase. Investments definitely fall into all three of those categories.<br /><br />A blog allows you to expose a little about your personality, thoughts and beliefs. This can help you build trust with potential clients before you even speak to them. It can also help you explain core ideas that help sell your product or service. You can expand this by not only blogging, but also by writing articles in your area of expertise. People, especially investors, want to work with experts. A blog is a place to let your expertise shine and show people how you do business. It is a classic push marketing tactic.<br /><br />It will take a not insignificant amount of your time to get going. Blogging, done correctly, requires a consistent effort. Will it be worth it? I guess that depends on what you have to say.Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com87tag:blogger.com,1999:blog-7995573205761224045.post-8152996357253452152008-04-24T08:38:00.000-07:002008-04-24T08:39:42.343-07:00Improve Buyer Confidence: Invest In What You’re SellingBuyer confidence seems to be at an all-time low. The uncertainty around the economy, who will be the next president and what is happening in the credit markets has cast a lot of doubt around investments of all types. A recent <a href="http://www.nuwireinvestor.com/blogs/commoncensus/2008/04/sixty-percent-of-americans-wont-buy.html">real estate poll</a> revealed that 60% of Americans were not planning on buying a home in the next two years, a significant increase over the percentage reported less than one year ago. This makes it an important time to actually invest in what you’re selling.<br /><br />It’s one thing to believe in your product. It’s another thing to “put your money where your mouth is.” Whether we are willing to admit it or not, we all like knowing that if our investments don’t pan out, there will be someone else in the same boat. That’s why most investors wait too long to get into a market and take too long to get out. It’s easier to invest when those around you are investing. It’s much more difficult to pull the trigger when everyone you know is stuffing cash in their mattress.<br /><br />Mainstream media sources are sending conflicting signals of “buy,” “sell” and “hold.” Investors are looking for confidence. If you believe in what you sell, show them your confidence with some skin in the game. If you sell investment properties in Rochester and you think now is a good time to buy, then back it up with some action. It will go a long way toward getting investors to trust you.Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com196tag:blogger.com,1999:blog-7995573205761224045.post-29554817932940077262008-04-24T08:17:00.000-07:002008-04-24T08:18:09.104-07:00What About A Rewards Program?My wife loves flight miles. It has become the fall back justification for any large purchase we need to make. The car needs new tires: “At least we’ll get flight miles.” We have to replace all of the siding on the house: “At least we’ll get flight miles.”<br /><br />To be fair, I love them, too. I was going to spend the money anyway, so it feels like I’m getting something for nothing. It also means I end up using my card more frequently. It turns out that’s exactly what the airlines and the credit card companies want.<br /><br />Over the years, I’ve noticed that the perception of value of a reward or discount is not necessarily based on the dollar value. For example, with many employees, a $50 bonus on a paycheck is not nearly as effective as a bonus of a $50 gift card to Neiman Marcus. A paycheck bonus gets lost in the other money relegated toward bills and expenses. A gift card is a license to spend money on a luxury probably not justifiable otherwise.<br /><br />Service providers would do well to take note of this psychological phenomenon. The cosmetic industry has used the free gift with purchase technique to drive sales for a number of years. They package up some of their products and sell them in larger bundles with a free gift. Inevitably they end up selling more products using this method. Instead of just giving a discount, they have mastered the art of convincing buyers they are getting something for nothing. In reality, buyers are just receiving a form of a discount for buying more products.<br /><br />It seems to me there are opportunities for service providers to leverage this idea.<br /><br />Instead of offering discounts for repeat customers, what about a rewards program?Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com22tag:blogger.com,1999:blog-7995573205761224045.post-34862444163408458052008-04-14T14:01:00.000-07:002008-04-14T16:41:38.770-07:00Lessons From Ryanair: How Do Your Clients Want To Pay?During the first three months of 2007, Ryanair boosted its profits to £93.6M (roughly $187M)—a more than 15% increase over the first quarter of 2006. That seems astronomical for an airline carrier that offers flights between European cities as low as £1 to £10. So, where does Ryanair make all its money?<br /><br />Besides some of the cost-cutting techniques that have become commonplace for most carriers, including online booking and ticketless travel, Ryanair has taken its penny-pinching to a different level:<br /><br /><ul><br /><li><strong>Forgoing air bridges</strong>: Opting for customers to walk the tarmac to their flights saves a few dollars</li><br /><li><strong>Flying to outer-lying airports</strong>: Often as far as 100km outside a major city, Ryanair has been able to achieve impressive discounts on landing fees. Some airports have even paid Ryanair for bringing additional routes.</li><br /><li><strong>Sales commissions for flight attendants</strong>: Along with traditional a-la-carte meal and drink items, Ryanair flights also offer duty free goods, scratch cards and even bingo. There is also talk about their attempts to get gambling licenses for their flights.</li><br /><li><strong>Overweight baggage charges</strong>: This is not unique to Ryanair. What is unique are their baggage weight limits; 10kg for a carry-on and 15kg for a checked bag (which carries a £5 charge, plus £5.50 per kg over 15kg).</li><br /><li><strong>Revenue sharing agreements</strong>: Ryanair takes a piece of car hires, bus transportation and hotel bookings.</li><br /><li><strong>Advertisements in and on the plane</strong>: Advertisements inside in-flight magazines are commonplace, but Ryanair’s use of the side of their plane for advertisements is unique in the industry.</li><br /></ul><br />Despite their cost-cutting and their efforts to “nickel and dime” their customers, Ryanair continues to be one of the most profitable airlines in the world. They offer less and make more than most of their competitors because they have figured out how their clients prefer to pay: not one ticket price which includes the cost of many services, but incrementally for the services they actually use.<br /><br />It seems to me that there are similar opportunities for service providers in industries where consumers are paying large sums of dollars for commoditized services. Can you say Redfin? Redfin has exploited a niche in the market for consumers who are willing to sacrifice service for savings.<br /><br />Where do you stand? If you know your customers, how do they prefer to pay?Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com34tag:blogger.com,1999:blog-7995573205761224045.post-57167995773745543782008-04-10T15:15:00.000-07:002008-04-10T15:18:36.852-07:00Newsletters: 5 Tips To Get Maximum Marketing ValueDo you send out a regular newsletter to your clients or prospects? If not, you may be missing out on a valuable marketing tool. I know it sounds like a lot of work, but it doesn’t have to be. Here are five quick tips for you to get the most value out of sending a regular newsletter:<br /><br /><strong>1) Use other people’s content</strong><br />You don’t have to write all the content in a newsletter you send to clients. There are sites such as www.ezinearticles.com and www.realestateinvestingarticles.org that will allow you to use articles written by other authors in your newsletter. Outsourcing of content can be done inexpensively through sites like elance.com. If you find an interesting article or blog post on the web, ask the creators for permission to reprint their content in your newsletter. If you aren’t posting their content on your website, they may be open to trading their content for some additional exposure.<br /><br /><strong>2) Keep it brief</strong><br />A sixteen page newsletter is probably overkill. It will not only be a major project to create—it’s also doubtful that your clients will read it. Too much information can keep people from reading your message.<br /><br /><strong>3) Send it via e-mail</strong><br />Beyond the time expense, printing and postage for newsletters can cost a lot of money. Sending your newsletter via e-mail is cheaper, better for the environment and more time-efficient.<br /><br /><strong>4) Use e-mail newsletter software or service<br /></strong>There’s no need to recreate the wheel: You can send quality e-mail newsletters for very little money. There are many web services—such as www.ezinedirector.com—which offer free e-mail newsletter services for small accounts, and a variety of newsletter publishing programs. Check out the software E-campaign, which offers great flexibility for about $200.<br /><br /><strong>5) Leverage the content you create</strong><br />You may want to write at least one of the articles in your newsletter. After all, this helps establish more firmly in your clients’ minds that you are the expert. Besides publishing this content in your newsletter, you can place it on your website to drive ongoing search engine hits. You could also send it to an online publisher with greater distribution to get your content and expertise in front of a larger audience.Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com264tag:blogger.com,1999:blog-7995573205761224045.post-49977793807428297582008-04-08T11:55:00.000-07:002008-04-08T15:50:11.608-07:00Lessons From Starbucks: Are You Watering Down Your Services?<em>Time</em> recently featured an article on Howard Schultz’s return to Starbucks. After a rough year, Schultz has taken the helm to attempt to right the Starbucks ship. His belief about Starbucks’ drop in U.S. traffic (its first ever) is that recent decisions have “led to the watering down of the Starbucks experience.”<br /><br />If you’ve visited a Starbucks recently, then you likely know what this means. Starbucks now sells CDs & DVDs, charges for Wi-fi access, peddles breakfast sandwiches and has been skimping on the plush carpet and lounge chairs one used to find in each Starbucks location.<br /><br />This is not an uncommon problem for growing businesses. In an effort to grow the bottom line, a business undertakes selling other goods and services that are ancillary to their core services or products. This is not unusual even in small personal service businesses led by real estate agents, attorneys and investment providers.<br /><br />I’ve seen many smaller service providers attempt to craft revenue sharing arrangements with other professionals and expand into areas outside their core expertise. Now we have the real estate agent who can also do your mortgage, or the residential investment provider who will also help you find a commercial project. This tends to dilute the focus and reduce the value of a provider’s core service.<br /><br />In his interview with <em>Time</em>, Schultz posed the question, “We've been selling teddy bears, and we've been selling hundreds of thousands of them, but to what end?”<br /><br />Are you selling teddy bears?Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com594tag:blogger.com,1999:blog-7995573205761224045.post-12808348209595668892008-04-04T11:03:00.000-07:002008-04-04T11:04:42.608-07:00Business Referrals: Are You Too Busy?Business referrals are the fuel that powers the business growth of alternative investment service providers such as attorneys, CPAs, real estate agents and mortgage brokers. Acquiring new clients through marketing and advertisement is relatively expensive, and it makes financial sense for service providers to focus on obtaining business through direct referrals. Many service providers unwittingly make this process more difficult by being “too busy.” Here is an exchange I commonly have with service providers:<br /><br />“How are things going?”<br /><br />“Good, but really busy.”<br /><br />As busy as they may be—and I don’t doubt them—they may not realize that saying they are “really busy” will make me less likely to send them business referrals. It isn’t just me who feels this way. People don’t generally want to add more work to your plate if you are swamped, nor do they feel comfortable referring someone to you if they think that you don’t have the time to provide excellent service.<br /><br />If you want to grow your business, you should never be too busy for referrals. Talking about how busy you are makes others less likely to send business to you, so instead talk about how you’re looking for new clients. That sends a clear message that you are ready, willing and able to take any business referrals sent your way.Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com24tag:blogger.com,1999:blog-7995573205761224045.post-22831631265641934552008-04-03T16:33:00.000-07:002008-04-04T10:17:32.257-07:00Writing Credible ArticlesReal estate agents and other service providers in the alternative investment industry tend to write good advertisements. They are used to crafting brochures, flyers and marketing remarks for listings. These involve creative use of adjectives like “cozy” instead of “small,” and pushing the reader to a specific action (e.g. pick up the phone, send an e-mail, etc.). But despite their marketing expertise, these providers often have difficulty writing effective articles and educational content. I have a theory why.<br /><br />I believe that most web users who visit an article are only looking for initial information to research a topic or idea. They have not decided if or what they want to buy. If the service provider fills the article with fluffy adjectives and sales messages, it is easy for the user to be turned off and to look elsewhere.<br /><br />The key to writing credibly for articles and other educational content is to focus on emphasizing ideas instead of products or services. This helps sell a provider’s product or service in an indirect way that resonates better in an article format.<br /><br />Service providers earn business based on their expertise. Writing articles is an excellent way to establish yourself as an expert. It’s also an excellent way to drive traffic back to your website, where the more traditional marketing messages can have better results.Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com25tag:blogger.com,1999:blog-7995573205761224045.post-50591105373364751982008-03-27T21:52:00.000-07:002008-03-27T21:56:38.484-07:00The Power Of A StoryThis morning I was blown away by the speech of a 15 year old. It wasn’t that she was more intelligent than the average 15 year old. She was. It wasn’t that she was more composed than the average 15 year old. She was. It was that she had a story and told it from her core with conviction.<br /><br />For a few brief minutes she owned everyone in the audience. I have no idea how many thousands of dollars were raised as a result of her speech, but I can tell you she was the reason for my donation.<br /><br />In a world full of sales gimmicks and half truths, the power of a story has never been stronger. It has the power to capture our emotions, to tap into our empathy, and to communicate in imagery. Stories aren’t pushy. They allow us to draw our own conclusions. In a world where talk is cheap and advice plenty, stories are a breath of fresh empowering air.<br /><br />If you want to sell me something, tell me a story. Tell me a powerful story that’s not about clever marketing phrases or rhetoric. Tell me a story that is about hope, a better life, or the chance to make a difference for people I care about.<br /><br />It doesn’t matter if what you sell is a clean house or a multi-million dollar investment. Your product or service is there to solve a problem. What is the solution you provide? What is the powerful story that communicates your solution? Do you truly believe it?<br /><br />Find your story and your clients will find you.Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com246tag:blogger.com,1999:blog-7995573205761224045.post-968307289595987852008-03-21T13:48:00.000-07:002008-03-21T13:51:14.734-07:00"What's In It For Me?" Lessons From MoroccoAnyone who has visited Marrakesh (Marrakech), Morocco knows that it is a unique destination—and sometimes awkward for Americans. The city is packed with guides who aggressively push their services on foreign tourists. Most tourists instinctively distrust these guides, but understand that Marrakesh’s maze of streets is nearly impossible for foreigners to navigate on their own.<br /><br />These guides profess to be free, but they are not. When they bring you back to your hotel, they will resort to begging and pleading in order to cajole some currency from your pocket. Even more interesting are the revenue sharing arrangements that they have with local vendors. Don’t be surprised if you end up taking detours to specific carpet shops or other stores where the tourist price is much higher than the price for locals.<br /><br />This type of arrangement is not unusual in many foreign countries, but it certainly feels foreign to most Americans. The idea of someone pushing us toward a store or product for a commission seems repellant, but this same scenario takes place in the U.S. every day. It’s probably why most Americans have a distaste for salespeople and rank them somewhere between lawyers and politicians in the hierarchy of “the kinds of people we trust”.<br /><br />If you want to earn trust, stop asking, “What’s in it for me?” Instead, start asking, “What will best serve this client?” Sometimes the answer will be a service or product that you provide. Other times it will not. Instead of trying to push a client into a product or service that’s not a perfect match, consider sending them to a provider that will better serve them, without expecting something in return. This not only builds good will with your clients, but also with the businesses to which you refer them. Good will leads to more referrals to you and a growing business.Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com125tag:blogger.com,1999:blog-7995573205761224045.post-39071531223652174122008-03-18T10:24:00.001-07:002008-03-18T10:25:57.784-07:00U.S. Real Estate Agents Selling International PropertyThe dollar has been steadily losing value against most major currencies for several years, and it appears that the dollar has further to fall, given the Federal Reserve’s commitment to dropping interest rates in hopes of spurring the economy out of recession. This provides an opportunity for real estate agents to market to two new types of clients.<br /><br /><strong>Foreign investors<br /></strong><br />As currencies in other nations rise against the dollar, it becomes less expensive for foreign investors to own real estate in the United States. Not long ago, I read an article about how real estate prices were continuing to rise in Manhattan, despite the general real estate malaise. It turns out that this was primarily influenced by foreign investor purchases.<br /><br />I just talked with Amy Phillips from <a href="http://www.deedquest.com/">Deedquest</a>, a real estate analysis website. A majority of visitors to her site are international investors researching U.S. real estate opportunities. International investors are out there and searching. Do you have a web presence that helps cater to those investors? My guess is that few do, so there seems to be much opportunity still available to claim that Web real estate.<br /><br /><strong>Americans investing abroad<br /></strong><br />Americans looking to purchase in other countries are another group that offers opportunities for real estate agents. Though most real estate is becoming more expensive for this group as a result of the declining dollar, purchasing property in other countries is a way for investors to diversify. For example, an American purchasing property in Canada would own an asset valued in terms of the loonie. Even if the property didn’t appreciate, the investor would experience a gain if the dollar dropped in value with respect to the loonie.<br /><br />In my experience, there are many Americans interested in foreign property. The difficulty is getting past the knowledge and distance issues. This is much easier to overcome if there is a trusted, local service provider that specializes in a specific foreign area and visits it regularly. Could you be that trusted, local service provider? Would it be that bad if you had to regularly visit Mexico, Costa Rica or Brazil?Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com142tag:blogger.com,1999:blog-7995573205761224045.post-58095572090125235472008-03-14T16:17:00.000-07:002008-03-15T14:04:40.872-07:00FREE: Why The Future of Business Is Zero Dollars And Zero CentsOn Wednesday night, I had the pleasure of hearing Chris Anderson, author of <em>The Long Tail</em> and the editor-in-chief for <em>Wired</em> magazine, speak at the 18th annual Economic Insight Summit in Seattle. He is finishing his second book, titled FREE, which suggests as its premise that the future of business is giving away more.<br /><br />In the past, the business model has been built around giving away 1% in order to sell the other 99%. Anderson’s belief is that the future of business will be giving away the 99% in order to sell the 1%.<br /><br />This is a powerful concept for any service or investment provider. The internet makes it possible to distribute information for nothing, or nearly nothing. That means that all investment information is in the process of becoming free, or—at the very least—much lower cost. You can already see this taking place in specific industries like real estate. Zillow, Trulia and Redfin, for example, are taking market share and changing the rules of the game within the real estate community.<br /><br />Service providers have two choices when approached with this phenomenon. They can choose to fight it, as the music executives continue to fight the idea of sharing music online, or they can embrace it. Those who choose to fight may find themselves in a situation similar to music executives who are spending their energy to hold onto slipping margins in CD sales.<br /><br />Others within the music industry are embracing the change. Prince, or the artist formerly known as, recently released his entire CD free with copies of <em>The Daily Mail</em> in England. Why would he do that?<br /><br />CDs are low-cost to replicate. My guess is that <em>The Daily Mail</em> or some other advertiser happily obliged to pay the cost of CD production and distribution in order to drive exposure for their businesses. Prince, on the other hand, was selling tickets to his concert at Wimbley stadium for $600 a piece. He used the CD as advertising to push his concert.<br /><br />Prince used his music—a resource now abundant through online music-sharing—to drive traffic to a scarce resource—seats at Wimbley stadium. How can you use the power of the internet to share information that will become abundant (your knowledge) in order to drive revenue through your scarce resource (the specialized services you provide)?<br /><br />This was precisely the question that led to the development of our <a href="http://www.nuwireinvestor.com/howtos/default.aspx">“how to” article platform</a> for alternative investment service providers. It is a way to share knowledge that can grow your business by expanding your audience, establishing your expertise, and driving traffic back to your website.<br /><br />There are plenty of platforms and avenues to make this trade across the internet: your knowledge for business exposure. Consider embracing that trade now and you can gain market share in your niche. Fight it at your own peril.Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com996tag:blogger.com,1999:blog-7995573205761224045.post-36691054976758194962008-03-12T14:15:00.000-07:002008-03-12T15:50:16.252-07:00Who Wants To Be Comfortable?I’ve always thought that being comfortable was something to which I wanted to aspire. I have recently changed my mind.<br /><br />During a conversation with an entrepreneur friend, he defined being comfortable as the absence of pain, or freedom from worry and disappointment. The definition seemed harmless, but something about it stuck with me.<br /><br />One of my core beliefs is that growth and learning are essential to happiness, and I don’t believe it is possible to learn and grow without experiencing some pain, or risking worry and disappointment. That means being happy and being comfortable—according to my friend’s definition—are no longer congruent ideas in my world.<br /><br />Someone looking to avoid pain, worry and disappointment would never start their own business. They wouldn’t invest in something that offered a decent growth return. They would never live a life of adventure that involved traveling to foreign countries or jumping out of airplanes. To be uncomfortable is to be alive, and alive people are the world-changers that are able to accomplish big things because they are not willing to let fear of discomfort dictate the path of their life.<br /><br />How does this relate to investing, you ask?<br /><br />Good investors know that they won’t get it right 100% of the time. However, good investors recognize the opportunity in fear.<br /><br />The time to buy is when everyone else is selling. The time to sell Is when everyone else is buying. Yet most people continue to invest with the pack. There is a level of comfort in doing what everyone else is doing. If you lose your money, then at least you know that there is someone else who is as bad off as you. That’s why there will always be endless opportunities for people willing to be uncomfortable.Jeremy Ameshttp://www.blogger.com/profile/13645240701126540724noreply@blogger.com35