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Remember that kid at school who was good at every sport?

Posted byIan Brodie on June 19th, 2018.

I bet you had one at your school too. A kid who was good at pretty much every sport?

Captain of the football team. And the cricket team. Good at rugby too, and a decent runner.

Trevor was that kid at our school. Rather annoyingly he was a nice guy too, so very difficult to dislike him.

The funny thing is that the multitalented sports stars at school very rarely seem to make it to the highest levels of sport afterwards.

There are some exceptions, of course. But the very top performers tend to be brilliant at one thing rather than being good at many.

The same is true in marketing.

You really only have to excel at one or two things to be successful.

Most of us fall into the trap of thinking we need to be good at a whole bunch of things. Email marketing, social media, paid traffic, seo, presentations, networking. The list is almost endless.

As a result, we overload ourselves with trying to learn way too many things. And we don't get good at any of them.

And we're egged on by people trying to sell us new tools and new courses about the latest and greatest thing we must learn because apparently “everyone” is getting great results with it.

But unlike the marketers who spend all their time on marketing and often have dedicated teams to support them, most of us have to fit marketing round client work. We simply don't have the time to become good at everything.

Nor do we need to.

A great product supported by mastery of a few yet marketing strategies is enough to make us successful.

And enough willpower to resist that new silver bullet, of course :)

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Principles, not tactics

Posted byIan Brodie on June 17th, 2018.

Sun Tzu famously said “tactics without strategy is the noise before defeat”.

Tactics are things like running Facebook Ads to a Webinar. Something that's been all the rage for the last few years and that seemingly every online course on winning clients is based on.

What the courses usually don't tell you is that Ad costs have more than quadrupled in the last few years. And conversion rates from webinars have plummeted too.

Tactics have a limited lifetime. As more people use them and clients become used to seeing them, they become less effective.

But principles are enduring.

The key principles behind the Ad to Webinar tactic are actually quite simple. First is going direct to your ideal clients. And second is building credibility and trust through high-value content.

Those are the same principles that underlie the direct mail tactic used by Bruce Henderson in the 1960s. He mailed copies of his thought-leadership directly to senior executives in large corporates.

That simple approach grew Boston Consulting Group from a one-man-band to the world's leading strategy firm in a decade.

Tactics change. Principles are enduring.

Of course, we need tactics to implement our strategies and principles. But don't get wedded to tactics, because they don't last forever.

And make sure you understand the key principles that make those tactics work. That way you'll be able to keep your marketing up to date and avoid following fads that won't deliver for you.

What are some of those timeless principles underlying effective marketing?

This is a starting point based on where we focus in Momentum Club:

• Finding and focusing your efforts on the ideal clients for you that are “hungry” for your products and services
• Building deep understanding of their needs and what will motivate them to buy
• Creating a powerful Unique Selling Proposition that will set you apart from your competitors and make you the obvious choice to work with
• Building compelling “attraction assets” to get high potential clients knocking on your door
• Tailoring your marketing tactics to the specific type of business you're in (e.g. strategy consulting to big pharma, leadership coaching for mid-sized businesses, etc.)
• Using “value in advance” to nurture relationships and build credibility and trust so that clients are ready to buy and selling become superfluous

In truth, the specific principles don't matter so much.

What's important is that you master a good set of principles and then apply them through your tactics. Don't start with whatever tactics happen to be flavour of the month or what some guru says is the “one best way”.

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My Achilles heel…

Posted byIan Brodie on June 10th, 2018.

Gosh. Where to start with this week's Sunday email?

It's my own personal Achilles heel: spreading yourself too thin with your marketing.

It's a weird one.

We all know that multi-tasking (or serial task-switching) just doesn't work.

And we all know that if we try to do too many things we become master of none.

Yet it's just so tempting to dabble in so many different marketing approaches.

Networking this week. Emailing the next. Working on Linkedin posts on Monday, blogging on Tuesday, SEO on Wednesday, Tweets on Thursday.

Not to mention webinars, “funnels” and all sorts of technical stuff we can get sucked into.

I think part of the problem is that we're all inherently curious. If someone tells us about a clever new tool or technique that makes it easy to get clients we're desperate to know what it is.

And most of us have to fit marketing into a busy schedule of client work. So it's hardly surprising we get interested when someone claims to have an amazing new method that will make our marketing easier and more effective.

And let's be honest, a lot of people in the marketing world take advantage of that. They've always got an amazing new method to sell. Or a “friend” running a fantastic webinar that just happens to pitch yet another new product at the end.

At the end of the day, discipline is our secret weapon.

Focus on just one or two approaches for attracting new clients.

And one or two methods for nurturing your relationships.

And just one method for converting those relationships into paying clients.

None of those methods needs to be new. They just need to work.

And by focusing your efforts you'll get better and better at each of those methods. Which will make them even more effective.

And you'll be able to fit them into a busy schedule.

If you want to go deeper into prioritising and making the time for marketing you can read my in-depth article here.

But for now, just start being more mindful of how many different things you're attempting to do. And start working to focus on the most effective ones.

(Oh, and clear your emails and social media feeds of people who are constantly trying to sell you the next big thing – that will help a lot :) )

See you next week

More Clients Memorandum

“Attraction Assets”

Posted byIan Brodie on June 3rd, 2018.

Ever been trapped at an event or party by some guy determined to sell you something?

No matter what you talk about he steers the conversation towards how great his products are and how they can really help you.

It's a Dante-esque nightmare that none of us would want to suffer.

And yet, in truth, we often inflict a similar situation on our own potential clients.

The first thing almost everyone learns in marketing is an “elevator pitch”. And, of course, the first thing we slap on our website is our value proposition telling people why they should hire us.

Buy almost any training course on marketing or sales and it'll focus on persuasion: convincing people they ought to hire you.

But think back to what we said in last week's email: the very best time to connect with a potential client is when they first realise they have a problem.

That means you can establish yourself as their guide, building credibility and trust so that when they're ready to buy, you're the one they turn to.

Do you think that when they first discover they have a big problem that needs addressing they're interested in hearing your elevator pitch or why you're a better choice to help than your competitors?

Far from it. Their focus is entirely on their problem.

They want to know what caused it. How big of a problem is it? What are their options to solve it? What will it take? How long?

There are a whole bunch of questions they'll want answers to way before they start thinking about who to choose to help them.

So if all they hear from you is about how much better you are than your competitors or what you're an expert in then to them you sound exactly like the awful guy trying to sell you stuff at the party.

What you don't sound like is a trusted advisor who can help them navigate their problem through to a solution.

So what does that look like in practice?

Well, it doesn't mean just giving away work for free.

It means creating reusable “attraction assets” that will draw clients to you because they clarify and help solve their most important problems.

An attraction asset might be a free diagnostic a potential client can run through to identify the root cause of a tricky leadership problem.

Or it might be a free report that lays out the key steps to reducing purchasing costs.

Or it might be a set of case studies from clients you recently worked with on improving their sales that you can share and discuss.

Pitching your services too early repels potential clients like an annoying party guest. But using an attraction asset to share valuable insight on a common problem your clients have draws them to you instead.

It starts off your relationship on the right foot: with you giving immediate value rather than just telling them about all the value you could give if they'd only hire you.

And it establishes you as an expert at what you do. Someone whose advice they'll pay attention to as they continue their quest to solve their problem or achieve their big goal.

And, frankly, it lets you feel good about your marketing rather than feeling like the creepy party guest. That can't be bad.

Then next week we'll look at a mistake that can undo all your good intentions.

More Clients Memorandum

The “hot lead” trap

Posted byIan Brodie on May 27th, 2018.

Back when I was running live training courses on marketing the number one thing my attendees said they wanted was to get “hot leads”. A steady stream of potential clients ready to buy right now.

Sounds great in theory. Who wouldn’t want to get in contact with lots of people ready to buy? Cuts out all that faffing about speaking to tyre-kickers and timewasters.

The trouble is, it's a huge mistake.

Focusing on potential clients who are ready to buy is a bit like a guy who wants to get married focusing all his attention on trying to chat up brides-to-be on the eve of their wedding.

After all, they're looking to get married, right?

Sounds ludicrous when you put it like that. A bride on the eve of her wedding may well be ready to get married. Just not to you.

And the same is true of potential clients.

Hiring a consultant or coach is a big decision. By the time someone is ready to buy they've already been through a lot of thinking and will be 90% emotionally committed to a supplier already.

Trying to butt-in at that point and get them to change their mind is like trying to persuade a bride on the altar that you'd be a better choice than the guy she's spent years dating.

Unless you're the George Clooney of your world, it's not going to happen.

And yet that's how most of us do our marketing.

Confession: that was me, rather more recently than I'd like to admit.

When I first started my own business I got pretty good at networking (despite not being a natural). I had the whole “elevator pitch” thing off pat and I knew the signs that would indicate I had a “hot prospect” on my hands.

And so I'd go from event to event meeting new people, sizing them up to see if they were a “hot prospect” and moving on if they weren't.

After months of doing this, it became pretty clear that it just wasn't working. My pipeline was dry and my discussions with the hot prospects turned to nothing.

I finally realised I was making a big mistake when I heard on the grapevine that a handful of the people I'd ignored because they weren't “hot prospects” had eventually hired someone to do what I could have done for them.

Doh!

Luckily for me, one thing I did do right was to invest in my own education.

I learned that there's a rather better way to build your business than constantly chasing hot leads.

It's to start a relationship when your potential partner is still open to dating.

For clients that means catching them when they first notice they have a problem or a new goal they want to achieve.

It means building credibility over time by helping them get clear on where they should be heading. It means giving them insights on what they should focus on to get there.

It means keeping in touch and adding value as they get closer to making a decision.

Then when they finally become a “hot lead”, you'll be the person they turn to. You'll be the bridegroom they've built a relationship with, not the sleazy guy trying to chat them up when it's all too late.

It takes courage to invest in building relationships over time like this. Confidence that it will pay off. And the strength to hold off from desperately chasing hot leads.

But it's far, far more effective.

Of course, it begs the question…how do I start relationships with potential clients on the right foot in the first place?

That's the subject of next week's email because, frankly, most people do it horribly wrong…

See you then…

More Clients Memorandum

Premium Pricing isn’t just for Posh People

Posted byIan Brodie on May 24th, 2018.

My Mum is staying with us this week.

We picked her up on Monday from Victoria Station in Manchester and went for a walk around town in the glorious sun. 

In the afternoon we popped into “Annie's” for afternoon tea.

Now I have to admit, I'm not normally someone who pays £20 a head for a few sandwiches, cakes and a scone. But it was great to escape and enjoy the service and the décor. And the tea was good.

It reminded me of a mistake many people make when it comes to premium pricing (I know I often fall into this trap).

Typically when we think about whether we can charge a premium for our products we think about whether our audience or a significant part of it will be willing and able to pay those premium prices.

The mistake we make is assuming that willingness to pay is static.

I'm not normally willing to pay £20 a head for afternoon tea. But on a special occasion, I am.

What we need to do when it comes to premium pricing is not just think “who will be willing to pay a premium?” but also “under what circumstances will people be willing to pay a premium?”

Thinking of those circumstances will open up a much bigger pool of potential clients willing to pay a premium to us. And it will give us ways of positioning our products and services that gives them extra appeal on those occasions. 

Think about your core services. When would people be willing to pay a premium for them? How can you ensure they think of you in those circumstances? And how can you position your services to be the obvious choice in those circumstances?

More Clients Memorandum

How to engineer differentiation

Posted byIan Brodie on May 20th, 2018.

In last week's email, we looked at how to analyse your competitors' marketing by looking at major elements like their primary promise, additional benefits, key features, primary marketing approach and espoused differences.

So right now you should have sitting in front of you a chart with each of these elements for your top 3-5 competitors (if you don't, I suggest you refer back to last week's email and create one).

Your next step is to review each element looking for common themes. Do all your major competitors make the same basic promise to their clients? Or perhaps each solution has the same basic features (e.g. everyone does training but no-one does coaching)?

When I looked at my marketing for Momentum Club recently I noticed that all the major competing marketing programs either had a simple promise of “get more clients” or claimed to help their buyers “get more clients without being pushy”.

In other words they were either going for a general appeal, or for people who felt uncomfortable with marketing and sales.

What I noticed was that many of my clients were talking about how they struggled to find the time for marketing and how useful it was to have bite-sized lessons they could fit into a busy schedule.

And yet no one else seemed to mention this vital aspect in their marketing. Either because their programs couldn't help, or they just didn't realise how important it was.

So I started adjusting my marketing to stress the time-saving side of Momentum Club.

It doesn't take precedence over the core promise of winning more clients, but it's something that makes my program that much more attractive to the many people for whom time is an issue.

You can do the same for each of the elements in your analysis. There's almost always something you can say about your products and services that your competitors can't or don't say.

Don't change everything. Just highlighting your difference in one or two key areas is enough to set you apart and give potential clients a solid reason for choosing you.

More Clients Memorandum

The right way to spy on your competitors

Posted byIan Brodie on May 13th, 2018.

One of the best uses of competitive intelligence (aka spying on your competitors) is to learn what not to do.

I don't mean that in the sense that they must be doing something wrong (though often they are).

I mean it in the sense that you need to stand out and do something different, even if what they're doing works for them.

I went through this exercise myself a while back, here's a quick and effective way of doing it.

Firstly, list the people you think compete directly with you. That means the people your potential clients would consider as an alternative to you even if they don't do precisely the same thing as you.

For example, if you do leadership coaching, maybe your client would consider training or a mentoring program or online learning as an alternative.

Be realistic: as a leadership coach you're unlikely to be competing head to head with Marshall Goldsmith, for example. Pick the people who end up on the same shortlists as you.

Then look at their marketing: their websites and any other promotional activities they do.

For each of your main competitors look at their main service or product offering and make a list of:

• What their primary promise is. What's a one-sentence summary of the main thing they say clients will get if they hire them?
• The additional benefits that clients will also get from hiring them. For example, the primary promise of a business coach might be to double your sales. Additional benefits might be to give you more free time, improve the capabilities of your staff, etc.
• The main features of their service or product. If they're a coach, do they meet face to face with clients? Over the phone? Is it weekly or monthly? Etc. If it's a product, is it online? Is it a one-off or ongoing membership? Are there live-calls? Etc.
• Their primary go-to-market strategy. Do they win clients through networking? Do they do seminars? Are they running online ads? Do they have a defined “funnel”?
• Finally (and most importantly) what do they say about how they're different? More experienced? A different way of doing things?   

I'm going to show you how to analyse this information next week, but for this week your task is to do this analysis for your top 3-5 direct competitors.

See you next week!

More Clients Memorandum

This no longer works

Posted byIan Brodie on May 2nd, 2018.

It's awful being considered “just a vendor” by your clients.

In fact, if you're seen as a vendor they're not really “clients”. More like “buyers” or “customers”.

That's why one of the most common pieces of advice you'll hear is to “stop being a vendor, be more like a doctor”.

“Customers tell vendors what they want…but doctors diagnose their problems and tell them what to do. Be like a doctor, not a vendor”.

The trouble is that while flipping the relationship so that you're the one with all the power may boost your ego, it's not a healthy relationship for either of you.

And these days, it's increasingly unlikely to work.

The thing is that while in previous generations we might have unquestioningly done what doctors told us, these days we check out our symptoms on the web and we want a discussion, not just to be told what to do.

The same goes for being an authority in any field.

Authority these days doesn't mean being some distant expert who expects people to bow down to their genius and who deliberately makes themselves difficult to reach.

Today we expect authorities to be open. We expect them to be human. We don’t expect them to play power games.

Experts: absolutely. But ones we can talk to adult to adult, not child to parent.

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You’ve heard this a thousand times…

Posted byIan Brodie on April 29th, 2018.

“Strategy beats tactics”.

I'm sure you've heard that more than a few times.

But what does it mean when it comes to marketing?

Strategy is understanding what your clients care about and what will motivate them to buy. Tactics are the latest whizzy survey tools.

Strategy is knowing that winning clients takes multiple steps. That you need to attract them and then nurture your relationship with them before they'll be ready to buy. Tactics are things like Facebook Advertising that might work today, but will be rather less effective in a few years time. Or the choice of which email marketing system to use (which tends to occupy 10x the amount of time as writing effective emails despite being 1/10 as important!)

Strategy is knowing that it's way easier to sell more to an existing client than to a cold one, so investing in marketing with lifetime value in mind. Tactics are which lead magnet or initial product you sell them.

Tactics are important, without them your strategy just doesn't work.

But good tactics last a few years. Good strategy lasts a lifetime.  

Understand strategy and you can pick the right tactics and outsource them to others if needed. Fail to understand strategy and you jump from silver bullet to silver bullet and are at the mercy of every vendor who tells you their tactic will “explode your business” or whatever the latest hype is.

So…what's your strategy?