The Marketing Formula: EDUCATING Your Prospect Is Key!

In sales our team members often look for the 'quick win' or 'low hanging fruit'. But the reality is that in order for these quick wins to occur, someone - likely marketing - has been nurturing your prospect.What really does this mean?Education of the prospect is a critical function for a marketing team. In fact, it is at this point that the company builds enormous credibility with the prospect.Education is not about talking about all the bells and whistles on your particular product. Nor is it pointing out why someone should do business with you or talking all about your company and how you are unique (which is rarely true anyway). I'll tell you a little secret. Your customers care more about their own situations than they do about your service or product.Well if educating the prospect isn't about product specification sheets, the wonderful services you offer, or the wonderful PowerPoint that shows all the companies you work with, what is it?Put simply, education is taking the time - with no expectation of return - in sharing solutions to customer's problems. It is information - freely given - that adds value for the customer and helps them understand both the dynamics of the problem they are facing and the potential benefits and pitfalls of many different solutions.


This education is not a one time event either. Your marketing team should be planning a series of educational pieces that continue to share information that is relevant to your customer. It won't always be solution centric either. At times you may want to share specific information about your industry. Or share special case studies that detail solutions to problems that other customers have faced.Why would you bother doing this, you ask? Isn't it just easier to hire more salespeople and send them 'knocking on doors'?Let me share some psychology with you. There is a psychological law called the law of reciprocity. If you and your company are the ones sharing information in a non-pressurized environment and you continue to do so over several months (or in some cases years), then when the customer decides to buy something that you offer where do you think they will go? Will they buy from the fresh faced salesperson knocking on their door from your competition? Or is it possible that they will take a closer look at your organization? Remember, you have been training the prospect. You have proven yourself as the expert.Educating your prospects is likely the best way to keep your prospects active in your sales funnel.

7 Marketing Reporting Metrics That Really Matter

Marketing data reporting is one of the newest and most effective areas in the field of marketing. Through analytics, massive amounts of information can be gathered. It can be specific to any aspect of a channel, such as location, time of day, device, clicks, and keywords. That data can then be pulled into a variety of reports to indicate the health of the overall marketing campaign, or a specific channel. It is made even more efficient by using organizational tools, such as software for a marketing dashboard, that allows easy and regular views of all results. While the reporting can be robust and answer a number of questions, there are key metrics that have a bigger impact on the company, and should be monitored more closely. Learn a few of those options, so they can be implemented today.1. Cost per leadThe way to find the cost it took to get each lead in a determined period is a fairly simple method for marketing data reporting. First, determine the total expenses it took to bring in all leads, through all advertisements, salaries (including commissions and bonuses), overhead, and marketing costs of a particular time period. Then, divide that number by how many new clients were gotten in that time period. The cost per lead lets the company know how much they've invested in each new lead for the year.2. Total conversionsTypically, the term refers to the number of leads that entered the company as a new customer that made a purchase. However, it can also be narrowed to reflect the success of a specified campaign, such as one targeted at increasing the mailing list, or to increase usage of a social media site. Marketing data reporting can be used to track a variety of project sizes. Tracking total conversions is important to know the success of the campaigns.3. Conversions attributed to marketingThe ability to provide quantifiable results for the efforts of a marketing department are essential to any business owner or Marketing Director. The number of marketing conversions is typically an accurate indicator of how effective marketing methods are.


4. Customer retentionCustomer retention is important because it means a high return on investment for the company. Marketing data reporting proves that the initial time spent to attract the client and acquire their business is paid down and earned over again through repeat business that requires minimal effort from the marketing team.5. The value of each customerIt is necessary to determine how many and what kinds of customers to target. A customer's value is the estimated sum of all the revenue they will generate over the course of your relationship. It is good to have an understanding of your average, top, and low, customer. With that information, the marketing and sales team have a better understanding of how to structure their efforts when working for a conversion.6. Total visits to a websiteAn effective and healthy website should be the biggest focus of any business. Too much of today's business is gotten or lost due to a website. A smart, easy to navigate, and pleasing design can mean a lot of time and money, but the likely return on that investment is high. Website optimization, integration of key search words, and formatting for mobile-friendly use all lead to increased sales through the website.7. Project ROIEvery single activity by the marketing department has a cost and a return. The goal is to track those numbers through marketing data reporting, so that attention can be put on those things with a high return and less time spent on the sometime necessary tasks that have a low return. With metrics built into each project, the ROI can not only be tracked, but with real time reporting, immediate changes can often be made to increase the effectiveness and decrease the cost.

Can Product Managers Be Too Clever When It Comes To Pricing?

How much does your product cost? I'm willing to bet that you have a price sheet / guide somewhere that took a big effort to create. You probably had to study the market, study your customers, and study what the other guys were charging in order to come up with your prices as a part of your product development definition. Once you had done this, you then had to get a bunch of people to approve your prices. Whew - finally you were done, the prices were set in stone, and you moved on to other things. However, is this really the best way to price your product?A Better Way To Price A Product - The Uber ModelSo let's think about pricing for your product for just a moment. What would the best way to do this be? We all know about supply and demand. The more that customers want a product (think snow shovels when there is a big snowstorm forecasted), the more that they are willing to pay for it. Every product has a similar model. Your product is probably more desired by your potential customers at different times of the day, week, month, or year.Given this knowledge that your product becomes more desirable at different times, shouldn't you be adjusting your price? Wouldn't you want to raise your prices when customer demand goes up and lower them when there is less customer demand? For that matter, what would your customers think about this? Get this right and you'll have something else to add to your product manager resume.Uber is a relatively new service. They provide a free mobile application that anyone can download. In a big city, when you need a ride from one location to another, all you have to do is to use the mobile application to request a ride. When you reserve a ride, you pay using your mobile phone so there this no need to pay the driver. Very promptly a car will show up for you. You'll end up paying roughly 1.5x what you would pay for a standard taxi ride, but you don't have to hail a cab - your ride comes for you. Needless to say, Uber offers a product that is very popular with their customers.Problems With The Uber ModelNow the thing about taxis is that although people may not like them that much, they at least know what they are getting when they get into one. Taxies have existed for so long that they have become highly regulated. This means that it is always going to cost the same amount to travel from point A to point B.


Uber's pricing doesn't work this way. Instead, during events such as a snowstorm or on New Year's Eve after midnight, Uber's prices go up. Sometimes significantly - 8x in some cases. As you can well imagine, Uber's customers are not pleased about this. Uber points out that they need to raise their prices to make it worthwhile for their drivers to be out on the streets in these adverse circumstances. They also make the point that if you have a problem with their price, then don't use the service.From a product manager perspective, Uber has a publicity problem here. They are using supply and demand to offer dynamic pricing for their product. Customers are always going to complain when Uber prices shoot up. However, what the Uber product managers need to do is to start to educate their market. Sure, an Uber ride during a snowstorm might be very expensive; however, if somebody is using them to get a pregnant lady to the hospital during a snowstorm then the price might actually seem fair. Documenting stories like this and sharing them with potential customers will serve to balance the complaints the next time demand exceeds Uber's supply!What All Of This Means For YouPricing a product has always been a challenge for product managers. Price it too low and you are leaving money on the table. Price it too high and you won't be selling very many. All too often we have a habit of "setting and forgetting" our product's prices because they are too hard to update. Knowing how to set the right price for your product is a key part of your product manager job description.Over at the mobile application developer Uber, they've come up with a better pricing model. The cost of a ride increases when there are fewer cars on the streets: during snowstorms, on New Year's Eve, etc. However, customers who are used to fixed prices tend to push back when they see the higher prices.As product managers we want to maximize the amount of profit our company can get from our product. Incorporating dynamic pricing would be a great way to make this happen. However, we need to take the time to educate our customers so that they know what to expect.

7 Approaches To Create Activity On Your Website

Web. Business. Benefit. To completely coordinate these words into a fruitful uniting you will require activity and traffic. Each article you will discover about making your site or organization effective would dependably incorporate the significance of producing movement.In this way, we all realize that in the center of everything, activity is the most key thing to a fruitful web based business organization. Aside from guaranteeing that you have an extraordinary item to offer, and you have your organization's inner association well taken center of, it would be time to get to the bare essence of things, producing movement.In the event that you as of now have a site and you need to believe that you're not getting the movement that should be getting, then now is the ideal time to rethink. In the event that you are fighting in these extremely focused businesses, you ought to dependably be a venture in front of your rival, expanding your movement stream ought to have been carried out beginning yesterday.Timing is crucial, that is an old aphorism known to everybody. Yet with creating movement, you ought to dependably be on your toes and be a day in front of everybody. Never consider today and tomorrow as a beginning stage for making your site movement laden, it ought to dependably have been yesterday.To bail you out in creating more activity for your site, here are practically seven surefire approaches to expand your movement beginning from yesterday.1) Put resources into great promoting with web indexesGoogle's AdWords gives extraordinary publicizing plans that are genuinely mainstream and guarantees incredible movement. In spite of the fact that with this surefire approach to build your activity would cost some cash. While some would bashfully far from using cash to expand activity, it is basic for this situation to do so in light of the fact that AdWords is the top surefire approach to build your movement.You could see for yourself the achievement this web search tool publicizing routine has procured prizes for such a variety of organizations. Loads of site's peculiarity, these publicizing frameworks and numerous have marked on to procure the profits. Don't be deserted. Each penny is worth the trouble with utilizing Google publicizing.2) Trade or Exchange Joins with different localesWith trading connections with different locales, both of you will advantage from the endeavors both of you do to improve your destinations movement. At the point when one site characteristics an alternate locale joins, they could give each other the activity one site produces. The exertions are doubly valuable on the grounds that no doubts like both of you are attempting to create more movement. The more connections exchanged with more locales the more movement could be normal.


3) Use Viral ShowcasingViral showcasing permits you to spread the saying about your organization and item without any expenses or if at any point low expenses just. This is a showcasing technique that can be truly tricky; you can join your organization's name, item or connection to a certain media, for example, an entertaining feature, captivating diversion, an intriguing article or a tattle or buzz. With this technique, individuals get tainted with the innovativeness and amusement of the medium that they will pass it on to numerous individuals.4) Hunt and use legitimate catchphrases or decisive word phrases for your locales contentInternet searchers search for specific pivotal words that they would indicate on their results page. In doing in this way, having the right pivotal word and catchphrase expression is a high necessity in positioning in high in web crawler results. You could compose your substance or you could enlist somebody to do it for you.5) Compose Articles that can lead activity to your siteSubmit articles to destinations that would contain the same subject that your site bargains in. On the off chance that you offer auto parts compose press discharges and articles about autos and auto parts. Connect your destinations portrayal and administrations toward the end of the article and also the connection.6) Join discussions and structure online groupsCatch a business and demonstrate your ability and validity. When you discovered a decent establishment for your site, individuals will believe you and your site and will pass on to numerous individuals their trust. Activity will be surely incremental in light of the fact that they realize that you can give what they require.7) In conclusion, Offer newsletters.In the event that numerous individuals recognize what you are about and your presence is imparted to numerous others, you will discover an unwavering movement that can furnish you with more activity by the proposal. In the event that you stir the interest of your clients they would be pushed to help you with your traffic.

Reasons To Hire A Professional Video Company

In case you are a company on the move, then you simply cannot do without hiring a professional for your videos. Even though inbound marketing has its own benefits, but there are certain things to be kept in mind while doing video marketing. The fact remains that a lot of videos are being watched all around the world, thanks to the Internet. And a bad video can be worse than no video for your business.Even though your employees may be good at making videos, but the fact remains that they would simply not have the professional equipment to do so. And there is no point in your company investing in expensive professional equipment for doing video marketing. After all, your company is not really a video marketing company and home made videos simply cannot compete against videos made by professional video equipment.Anybody can make out if a video has been shot by amateurs or professionals. In order to make a positive impact, make sure that your video has strong content along with impressive presentation and you know your product best. So you must make the content. And then you must hire the services of a video production company in order to convey the message across in a positive and effective manner.


There is much more to a video than just filming some action or people using a product telling about its features. It needs to be interesting, crisp and in the local language. In fact, you need to contact professionals to do the required editing and to add images, colours, movie clippings and so on. In fact, you may even need to translate your video in local languages in order to cater to a larger market. This means that video production is much more comprehensive than what you may have been thinking.For all these things, you would require professionals. Video marketing companies already have contacts and know people who have such skills. Once you are in touch with a professional video marketing company, you can be assured of getting all these services too. Hence what you would be getting in the end will be a complete finished product. So you will have to make no effort while you would be getting a completed end product. This will save you a lot of hassle and resources. It would allow you to focus on your actual business while you leave the video marketing with the professionals.

Marketing That Speaks From the Soul

As a change agent you need to express your ideas in a way that inspires others to take heartfelt action, whether purchasing your services, funding your invention or signing a petition to change the way things are done.How do you touch the hearts and souls of those you are meant to serve, in the midst of the information overload they experience every day? How do you stand out in the crowd while still honoring the integrity of your values?The answer is to bring forth language and branding that speaks from your soul.When your marketing speaks soul to soul, it acts as a lighthouse cutting through the fog with a powerful beam, sending your message directly to those who are called to the higher purpose of what you offer.Without the anchor of your soul, you often find yourself running up and down the beach trying to flag down the passing boats in a race against others with a similar message. Imagine instead the fulfillment of simply beaming your radiance with a homing signal to those who are qualified to receive it.How do you approach marketing from the soul?The first step is to be clear on the radiant qualities of your inner essence, the being aspect of your purpose. What transformative qualities do you bring to a room? Does the room get more peaceful, more playful, warmly heartfelt, full of clarity?These qualities inform a purpose-based brand so that the look and feel of your promotional materials and the tone of your language give others the same experience as if you were right there in the room with them.One of my clients discovered from her inner wisdom that her essence was "the warm glow of light at dawn." Choosing rosy pinks and golds for her website, she was thrilled that the colors felt just like her. In contrast, consider what someone with the essence of "the clear diamond of truth" might choose.Though it takes courage to step away from marketing trends and display the essence of who you really are, doing so serves as a powerful screening function. Those who do not resonate with your style will know it right away and not take up your valuable time.Next, clarify the unique transformational impact your offer or proposal will bring if your audience follows your call to action.In the second example above, the client with the essence of "the clear diamond of truth" discovered that she has the impact of cutting to the heart of complexity with the light of clarity and truth. This gave new insight into her work with organizations to create clear values and actions that align with these values.Notice the difference between the following positioning statements:

"We help clients identify core issues and then devise value-added solutions in an efficient and cost-effective manner."

"We cut to the heart of your complex issues and shine light on the core values that align your organization with its greatness."
The first statement is focused on routine problem-solving, and could be said by just about any firm offering values-based consulting. This positions the service as a commodity, where the lowest price is likely to win the contract.In contrast, the second statement expresses the essence of what my client's values-based consultancy does, with evocative imagery that inspires the bigger why underneath any organization's search for help. And, it's not just any imagery, but a metaphor which describes the unique essence of the consultant.


Putting it all together:Once you've clarified the essential qualities and the transformational impact of your offering, the last piece is to understand the "before" state and "after" state of the transformation.The "before" state is the condition, whether a challenge, curiosity or longing, that your audience is experiencing before they've been transformed by what you bring. The "after" state is the condition they experience having been transformed by your offer.For example, with the consultant we've been following, before her clients work with her they are feeling frustrated, stuck, and out of alignment. It's likely that there are mixed messages circulating in their organization, even competing projects, causing inefficiencies and lack of engagement.After they've benefited from her work, her clients are operating with not only clarity of vision, alignment and efficiency, they are engaged and inspired by the future as well.With this information you can speak to the heartfelt condition any prospective client, potential member or investor is living with before finding you. You can then paint the picture for them of how they will enjoy the shifts provided by your result.Call out to them heart-to-heart and soul-to-soul. Invite them to move from the discomfort of the "before" state and join you in the "after" state of your gifts.Here are two examples:~~~~~Public speaking with ease and impact in front of any group:Imagine standing in front of any audience, feeling absolutely at ease and enjoying their rapt attention.Whether you have public speaking anxiety or simply want to express yourself with greater clarity, Relational Presence and Relational Stillness practice at a Speaking Circle® program will guide you in effortless authenticity.~~~~~Do you feel called to increase your impact and play an essential part in the global shift that's emerging? If you're like most of us, you also feel a bit daunted at how to tackle this profound task.Even with success at living your calling, something larger calls you. You won't be satisfied until you embody the truth of your deepest wisdom, boldly touching more lives than you can imagine, and making the full impact that you are here to make. How do you fulfill this vision in the face of all the challenges that stop you?It's time to heal the wound of separation between your inner truth and your outer expression.Join with like-minded others at the Gathering for Change Agents, where by sharing a similar mission, we can accomplish much more together than any one of us can alone.~~~~~Once you take the leap to marketing from your soul, the results will reward you in ways you couldn't have imagined, and there's no going back.

How to Stretch Your Association Marketing Budget

As the final quarter of the year approaches, it's time to take a look at your association's marketing budget.Are you on track to end 2014 as planned? Or are you trying to figure out how to make do for the remainder of the year?Here are three ways you can stretch your dollars while still getting fantastic marketing bang for your buck.Market More OnlineCompared to print, television and radio advertising, marketing online can be a budget friendly option. Google ads, Facebook ads, and placing ads on websites potential members frequent are all more wallet friendly alternatives to expensive full page print ads.Another benefit to internet marketing is being able to push your message to a highly targeted group. Internet advertisers allow you to segment your audience based upon demographics such as age, industry, interests, location, and more.Reuse and RecycleRecycling and reusing physical products is the Earth friendly thing to do. But have you ever considered applying this mentality to your association's digital assets?Sales presentations can be shared on SlideShare.net. Depending upon the licensing agreement, stock photos purchased for brochures or your website can make an appearance on social media posts. Notes or presentations from association meetings can be turned into blog posts or articles.


You get the idea. Make use of the information you already have available to you before spending time and money to create new items.Consolidate Your Service ProvidersYour association probably started paying for service providers one as a time, as needed. Does this scenario sound familiar?First, you created a website. Then, as the association grew, you paid for an email service to manage your newsletters and group emails. Next, members wanted to pay for dues online, so a shopping cart service got added. And finally, your association added the ability to RSVP to events via the internet.Now your association is functional, but there are so many different monthly bills to pay it can feel overwhelming.Using a membership management tool can be a real help for your association. Do your research to find a tool that offers all the features you are currently using. Membership management software services usually offer a complete suite of services your association needs at a price less than using multiple providers.Get your marketing budget back on track by using these three money saving tactics. Has your association adopted any of these ideas?