Weekly Edge

Who Do You Trust?

Marcus Everett - Wednesday, September 04, 2019

Who do you trust?

 

Family members, friends, team members?  

 

What organizations, businesses, companies have your trust?

What level of trust do these people and groups of people have?

Would you leave your child with them?  Would you trust them to keep secret the most juicy piece of gossip?  Would you trust them to sell your largest asset?

Have they always had your trust or have they had to prove they were worthy of it?

In a business sense, who trusts you?

Would your team members trust you with sensitive information?

Are you the type of person people know can be relied upon to get a job done?


Do your clients trust you (really trust you) or do they simply deal with you?

 

Run Forest, Run!

Heather Frame - Wednesday, August 07, 2019

It’s the simplest ideas that are often the most memorable.

 

Ever gone into a changing room after a “helpful” assistant has taken your clothes in there for and not for the life of you been able to figure out behind which mystery door yours lie?

A Melbourne clothing store we once went to put mirrors on the front of their doors and would get your name and write it in white board marker on the mirror when they took the clothes out back.

Simple.

Ever sat at a restaurant table nearly begging the waiter to stop and get you a drink?

Bubba Gump (a Forest Gump based restaurant chain) has blue “run forest run” and red “stop forest stop” signs on each table which clearly indicate whether you need someone to stop and help you out.
 


Simple.

So, we think that one of the best questions you could ask yourself about your business right now is: “What’s bugging people and what simple thing can I put in place to fix it?”

Copy is KING or is it?

Heather Frame - Wednesday, July 31, 2019

All the copy gurus tell us that copy is KING!

 

They are partly right.

 

What they don’t tell you is that copy is only KING when it’s backed up with the right marketing strategy.

 

That’s because…

 

The best copy in the world falls flat on its face if not backed up by the right strategy and the right implementation.

 

We’ve seen it time and time again with business owners who’ve spent more time focusing on writing the perfect piece (that is to get their copy just right) than thinking about the most effective marketing strategy that will get their target markets attention.

 

That’s why with our clients we focus on the right marketing strategy to engage their target market before we look at or even think about the copy.

 

How does this fit within your business?  Do you think about the strategy before the copy?

Every Advertising Dollar Spent should be an Investment

Marcus Everett - Wednesday, February 27, 2019

Every business, small or big, advertises in the hope of finding new customers, yet at the same time most view their advertising as an expense rather than an investment.

 

As any business owner knows, you get returns from investments, not from expenses, so understanding that you're investing your advertising dollar in the hope that it will bring you a return is the only way looking at your marketing and advertising that makes sense.

 

Unfortunately this thought process happens too seldom because in the average business, the owner has little if any idea what the return on their investment is.

 

Why?

 

Too often the average small business owner doesn't take the time to measure the response that each marketing piece generates, leading to that uncertainty.  Sure, you might think your latest radio commercial, which you spent $2500 on, is drumming up business, but what if it’s your social media, that you spend virtually nothing on, that is generating the leads for you?

 

If you don’t know what your resources are doing for you, how can you ever really know how to use them most efficiently?

 

If you were to invest your money in a stock or a piece of real estate, you'd most likely keep a very keen eye on what returns you were getting from that investment, wouldn’t you?

 

So why doesn’t the average business owner look at their marketing in the same way?  After all, it’s a helpless feeling when you aren’t sure whether you're getting any return at all from the money you invest.


So how do you find out what return you're getting from each marketing piece?

 

You simply ask each customer who calls, or comes into your store how they found out about you.  You then record their response, and calculate how much business each advertising effort generates.

 

Yes it will be time consuming and you may not get every single customer right, but it will give you an idea of what works and what doesn’t and you can move forward from there, deciding which campaigns and materials are worth keeping or updating and which can be thrown in the trash.

 

But most importantly, once you've worked out the marketing campaigns that are making you money, or at least paying for themselves, and the ones that are costing you money, you'll be able to stop throwing good money away and start to increase your profits.

Is your database up to date?

Marcus Everett - Wednesday, February 13, 2019

Do you have a database of your customers?

 

As you know, it is far easier to sell back to someone who has bought from you before than it is to someone who has never bought from you.  So, doesn’t it make sense to know who these people are!

 

Keeping an accurate database of all your customer’s means you ensure you have all the right names and addresses.  This is important if you have a large database that you do not regularly check.  It is especially critical if you base much of your business on mail order and direct mail.

 

If your database is out of date, you can waste a lot of time and money contacting inactive customers, or sending mail to an old address after your clients have moved.  By regularly updating your database you can be sure that your time and money is being well spent.

Here’s a quick test for you

Heather Frame - Wednesday, January 30, 2019

Do you know what a client is worth to you in your business?

 

What we’re talking about is their lifetime value.

 

Is a client worth $100?  $500?  $1,000?  20,000? Or even more?

 

Take a moment to get a figure in mind of what a client is worth to you…

 

Once you’ve got that figure think about this question

            What would you be willing to pay to get a new client?

 

Whenever you do any marketing, like placing an ad in the paper or doing a letter box drop for example, the cost of the activity must be divided by the number of new clients it creates.  This is your cost of acquisition.

 

So, whenever you embark on a marketing campaign in your business make sure you know how much you are going to spend and test and measure the results of how many new clients you gain from each campaign.  So you know exactly how much it costs you to acquire each client.

Marketing lessons from the man in red

Heather Frame - Wednesday, December 05, 2018

Today we bring you some marketing lessons we’ve learned from Santa Claus

 

1.     Deliver on time – Would we still believe in Santa if he missed a year, or came late?

 

2.     Everyone loves a giver – Don’t be a taker.  Move the free line, and win your prospects over with your generosity.

 

3.     Hire a team of hardworking admin people to make you look good – Santa gets the glory, but the elves work hard to make it all look easy.

 

4.     Plan ahead – Santa makes a list, and checks it twice, most business owners don’t even have a list.

 

5.     Teach your clients how to treat you – Every kid knows to leave out milk and cookies, an leave carrots for the reindeer.  Do your clients know how to help you?

 

6.     Qualify hard – Do you grade your prospects and clients?  Santa even grades kids either naughty or nice!  Which of your clients have been nice? Which prospect has been naughty? You know what to do

 

7.     Leverage – Santa has a team of ‘body doubles’ who have been working the crowds at every shopping centre on the planet for the last 4 weeks (while the real Santa sips margaritas by the pool at his condo).

 

8.     Limit access – Santa’s got things set up, so you can’t get him on the mobile, or just see him whenever you want.  You’ve got to send your request to an obscure PO Box in the North Pole.  Are you too easy to get?

 

9.     Run special events – He’s the original product launch formula guy.  He builds massive anticipation, and even gets your kids counting down the sleeps til the big day.

 

10.  Costume and self-promotion – If he just wore regular clothes, he’d be no big deal.  Do you have a uniform that makes you recognisable?

 

11.  Get others to talk you up – His PR elves get everyone talking about Santa, so he never has to talk himself up.

 

12.  Build a business that gives you free time – With all the body doubles and the team of elves, Santa really only works a couple of days a year.  So he and the missus get 363 days off.

 

There are business lessons everywhere if you look for them.  Feel free to send these lessons on to your clients and prospects if you think it will help them.

 

Have an amazing Christmas

Where is that place?

Heather Frame - Wednesday, August 15, 2018

Last night we were watching a television advert promoting a gorgeous tropical looking resort. 

 

We both looked at each other and said it looked like a nice escape from the cold winter we are in the middle of.  We waited to see where it was.  No location was named.

 

We had recorded the program we were watching, so we rewound the advertisement back, still no location.

 

We then googled the address only to find out it was in Bali!

 

As gorgeous as it was, having to google it to find out the location (and instantly finding 10 other ways to book accommodation there) was probably not what the travel agency had in mind while running the advertisement.

 

It reminded us of just how easy it is to get so caught up in a concept that you miss the obvious.

 

We’ve done it ourselves, getting a few hundred brochures printed only to find out they didn’t have important information on them.

 

So, our tip today….. The next time you’re working on an important piece of marketing have fresh eyes take a look at it and give you some honest feedback before you finalise and run with the marketing piece.  

Out of Office or Out of Your Mind?

Heather Frame - Thursday, July 26, 2018

Each week when we send out our e-newsletter we're inundated with replies detailing that people are "out of office".

 

Now don't get us wrong, we love a good out of office reply, but we see some shockers here on a weekly basis.

 

Here's some of our least favourites.

 

1. The grammatically incorrect / spelled incorrectly reply.  With spell check there's really no excuse.

 

2. The too brief reply. We got one simply saying "On leave <> - cheers".  There's no space limit on most out of office systems - give a little more.

 

3. The reply that only lists a phone contact.  If someone's chosen to email you, please, give them an alternate email contact (it's clearly their preferred method of contact).

 

4. The expired date.  This one kills us.  Joe is out of the office until 21 June (only it's 27 June now!).  If you're going to put an out of office on - diarise to take it back off again!

 

5. The no end date.  "I'm out of the office from 4.30pm Thursday".  Until???

 

Here are some out of offices we've loved:

 

Greetings and I hope you are well.
 
Just letting you know that I will be away on leave for the next few weeks and that my dedicated Finance Manager <> will continue to manage all matters during this time.
 
<> is fully across and briefed on all current and potential client needs so please feel free to call him on <> or email him on <> should you require any assistance.
 
My fellow Directors <> and <> will also be supporting <> during this time with any new or additional property investment finance or home loan needs.
 
Thanks for your continued support and I will be in touch on my return.
 
Regards,
John

<> 

Hi there,

I trust that you are well!

I am currently on Annual Leave until the 20th July.

I will be clearing my inbox every 3 days.  However, if there is any urgent issue please call my mobile on (mobile number given here)

Take care and we will chat soon!

Many Thanks
Tina
<>

 


Hi,

As a salesperson I'm away from my desk for much of the day showing properties, dealing with clients and signing contracts.

It's my policy to check emails twice a day, but if you need me more urgently, please feel free to call me on my mobile <>.

I look forward to talking with you soon!

best wishes,
<>

 

Will your out of office be forgettable or useful? Embarrassing or memorable? Helpful or painful?

 

Until next week,

 

Heather & Marcus

Why you must find your niche

Marcus Everett - Wednesday, February 14, 2018

ONE OF THE BEST ways to make your “small” business big is to make sure you have healthy profit margins, and that you have identified a niche in the market.  Once you identify that niche, it’s your job to dominate it.

 

There are a number of real world “big business” examples to justify this seemingly counterintuitive strategy.  But those big companies such as Google, Porsche and Apple... all started out as small companies.

 

Today, both Porsche and Apple own very little market share compared to other companies, but they own higher profit margins – and they dominate their category’s niche.

 

Google wasn’t the first player in the search game.  But their narrow focus on “search” helped them dominate, while finding huge streams of turnover and margin from ad sales.

One of the keys to finding your niche and a path toward domination is to focus on what you do best.

 

• What are your company’s strengths?

 

• How are those strengths reflected in your current product or service mix?

 

• How can you leverage those strengths across your entire company?

 

Our definition of a properly “niched” business is a business that doesn’t need to compete on price.  In fact, a business that properly dominates its niche never competes on price, and yet wins out on the majority of business as others try to cut prices to compete.

 

Identifying your strengths.

 

So, how do you find your company’s strengths?  Here are some simple questions you can ask yourself to help this process:

 

Are you selling what you want to sell... or what people want to buy?

 

A lot of owners get comfortable with what they think should sell, rather than what their customers really want to buy.  What’s the best way to see what your customers want?  Ask them.

 

Call up your five biggest and best customers and ask them what they like about your business and what else you could offer that they want to buy.

 

Chances are, they are buying some of those items from another company (or even a competitor) because you don’t carry that product or offer that service.  Or, worse, you do carry those items, and they simply don’t know about it.

 

Communicate with your top customers and in most cases they will tell you exactly what they are looking for to make their lives and buying experience easier and better.

 

Being part of that equation can bring massive improvement to your business and bottom-line.