25. May 2010 by Frank Goad.

This post is about your 80/20 and something much more valuable in your life. Most of you know the old saw about 80% of your business coming from 20% of your customers or clients. This is about your having a larger, more loyal 20% and getting benefits worth far more than the coins they give you.

A Lexington millionaire I knew (who, despite being twenty years my senior, often kicked my butt on the racquetball court) said he became rich by spending an hour a day doing one thing: Calling his best customers regularly just to say “Hi.” He explained that, “People do business with folks they know, like and trust. Without building a relationship, they can’t know, like or trust you. It’s up to you to reach out to them. After all, the most popular people are the ones who go out of their way to be friendly. That’s why they’re popular - they make everyone else feel genuinely important.”

He said to avoid long calls to show respect for their time, and that leaving a message just to say “Hello” was often just as beneficial. After you’ve called a few times, they’ll welcome your call because they’ll know you only want to check in. Some will look forward to the call the way we look forward to a birthday card (and you can collect birth dates, too, as you call).

Creating friendships is a natural part of business that is often overlooked. Regularly reaching out as a friend to the people who are your best customers benefits both sides of the equation; it’s about win-win, so show the 20% some love. You don’t have to send gifts, just call to say “Hi,” ask about their family and so on. The more you do this the better you know them, and you’ll become familiar with folks you never expected to become friends with. For those folks who aren’t in your 20%, maybe it’s because they have no reason to think of you; call and give them one.

To be effective and to show folks you are genuinely interested in them requires consistency. One method to keep on track with this year-after-year is to take your address book (physical or electronic) and create a spreadsheet with everyone on it. Then divide them up into twelve groups to call in twelve months. Call them some time that month, but don’t wait ’til month’s end because most folks are busy then. Better still, call at least twice a year.

What to say when you call? Tell them about something cool that’s coming up before anyone else knows. Ask how you can help without asking for a sale, or call about an event they might be interested in (a charity fun run/walk, a bake sale, a Big Lebowski bowling event, etc.). Maybe asking for an opinion (vs. professional advice) on something you’re involved with outside their specialty; this avoids looking like you’re trying to poach free service. Maybe you meet for coffee or rendezvous at a meeting or event. Whatever works for you.

You can keep it strictly to business, too. Check on their account or orders or whatever as a pretense to call. Or, call and explain that you do this occasionally just to see how your business is doing in their eyes (you should do that in any case). If they haven’t ordered in awhile, calling just to say “Hi” is even more important. Sure, Facebook is cool and easy, but one-to-one contact between two humans is much more powerful than a poke or a wall post. Do this in addition to social media to multiply its effect and bridge the time between calls.

If you do this year-in and year-out, you’ll get a lot more than sales. You’ll get the satisfaction of helping someone else and the one thing that makes life its richest: Friends.

Posted in business relationships, relationships, business, building business, Frank Communications, FrankyGee3, Frank Goad, business plan, "The Frankifesto", blessings, Advertising, Frank, PR, The Long Tail, Public relations, welcome | Print | No Comments »

24. May 2010 by Frank Goad.

If you are in business for yourself or own a business, you have to be promoting yourself all the time. There is increasing competition for an ever-shrinking pool of business. It’s tougher today than a decade ago if for no other reason than advertising and marketing is so fractured. As I’ve written before, these days, it comes down to time or money. That is, if you don’t have the money to do a big, sustained advertising campaign, then you have to invest the time to do it yourself.

Advertising today is a lot like megaphones:
• If you have a lot of money, you can buy a PA system and hire someone to run it for you. You can even hire someone to do the talking.
• If you have some money you can buy a large electronic megaphone that even has a horn or siren to get folks attention.
• If you don’t have any budget, you pick up the nearest thing that looks like a cheerleader’s megaphone and start running around and yelling. Hello Facebook, blogs, meetings, etc.

Most of us fall into category two or three. That means we have to find publicity wherever we can. Want to get some attention from the media and burnish your reputation? Do something for the community. Don’t just run out and have a bake sale - have a cause you believe in first. In this day and time, many agencies are going wanting due to thin budgets and thinner staffs and will welcome any help they can get.

No, this isn’t some cynical operation that you do because it’s good for business – you do it because people need help. Still, the glow from a charitable act will net you good will and you’ll make some new friends. Friends are about the most important asset for any business. Beyond that, will it make a lasting difference in one person’s life? Yes? Then that’s all you need to know.

Pick something you feel strongly about like cancer, autism, the environment, education, the arts, women’s rights, animal welfare, inner-city programs, youth in music (one of my favorites) or whatever pulls strongly at your heart. Write a mission statement that says what you want from the event, why you’re doing it, who it will help and how much you think it might help and how. Update the mission statement often as you’ll find new things as you go along – the ending will likely be different and better than you planned.

From this planning, you’ll have an idea of what you can raise or do for the event. Is the goal to raise money? Raise awareness? Get material or goods (e.g., pet food for the Humane Society)? The sponsoring agency will give you guidance as to what is most helpful. Plug this into your mission statement.

Once you’ve written down your goals and plans, then go to an organization who is usually attached to these causes (if there is one), share what you’ve written and see what kind of help they’ll give you. Try to find a co-sponsor who’ll help, too, before you go; many hands make for light(er) work.

Next, plan your event and pick a theme. Get help and figure what it’s going to cost, where to have it, etc. This is where an event planner comes in handy. You’ll have to think about everything from sanitation to seltzer water. Whatever the event, you’ll likely need at least a few months to plan and execute.

What event should you plan? That’s up to you and your planner. Stage a fishing or golf tournament, a picnic or barbecue, a pool party, cookware event, a gourmet hors d’oeuvres party, a wine tasting - something that helps folks walk away happy (and not just because of the wine). Since it will likely start with friends, you know what they like, so plan something you’re familiar with and it will be easier for you.

Then, build your list of people to invite and determine how many you realistically think will come. If you’re not sure, call a bunch of friends and ask them to see if they’d be interested. You might get a volunteer or two calling their friends. Check with the organization you’re doing it for as they’ll likely have an idea, too. If all your friends invite their friends, and their friends invite only half their friends, that could be a good number.

Then go back to your mission statement and use that to create your publicity plans and your press releases. It will inform everything and everyone about why you’re embarking on this madness. Try to find one person in the media (reporter, DJ, public relations agent, etc.) and get their advice and names of helpful folks. The agency you spoke with can usually help you with that.

After that, when you’re about three months out, send press releases out to all the media you can think of and follow up regularly with with new items (don’t rehash the old - make it new). Again, work with the sponsoring agency (if there is one involved) and get help on publicity from them - they might be able to  accomplish many times what you can. Keep calling and get help arranging for any publicity you can find. There’s no shame in attaching your company’s name and your co-sponsor’s to this whole thing. (Alltech has their name all over WEG, and rightfully so, thank you Dr. Lyons.)

This is just a snapshot and, realistically, doing any public event is tough. It doesn’t have to be something with thousands of folks. Sometimes small events with a unique or outrageous flavor get more attention - be creative.

If you handle it well the rewards you’ll feel as an individual will be huge (food for the soul), the benefit to the community will be greater and, who knows, you could start an annual event that becomes legendary. You’ve heard of the Kentucky Derby, right?

Want some more ideas? Need help with marketing or advertising? Call me or use the contact form at the bottom of the page at the Frank Communications website.

Posted in delight, Success, Character, Branding, creativity, Frank Communications, Social Media, FrankyGee3, Frank Goad, building business, business relationships, PR, Frank, blessings, responsibilities, Public relations, "The Frankifesto", relationships, business, business plan, Marketing | Print | 1 Comment »

22. May 2010 by Frank Goad.

Despite all the talk about social media, “the long tail,” web advertising and other new frontiers in marketing, most local businesses still deal with customers one-on-one. All of those things are the acts that get customers in the door. What about once they’re in your store or on the phone? Training ensures that your company takes advantage of every opportunity that comes to you.

Training staff is still critical and it seems to not be getting enough attention anymore. I think that’s largely because of thinner budgets. Want a budget problem? Start losing sales because of untrained personnel. Maybe you already are.

Yes, it costs money, but it’s an investment. How many sales are lost because a customer didn’t get the answers they wanted, or because they saw your team member as unqualified or uncaring? I’m betting it’s way more than you realize. What if you have multiple locations? If there is a lack of consistency between your stores, customers don’t react well to that.

Think of the times that you’ve gone into a store and the person at the counter couldn’t answer your questions. Even worse, let’s say they only said, “I dunno,” and didn’t offer to find out. Are they lazy or stupid? Well, that’s a possibility, but it’s more likely they were not told what to do. Despite being something so simple, the basics are often overlooked when a company is overworked and understaffed. Because some other team members know what to do it’s easy to assume everyone does.

Training doesn’t have to be expensive or mind boggling. Start by taking notice of all the processes in your store or company. How do people answer the phone? How do they answer questions? What do they do when they don’t have an answer? Do they use suggestion to build sales? What steps are there for follow-up? What reference materials do they have? How do they record calls?

Take that information and start at the beginning. Create a flow chart or series of steps so that the major things they do can be guided and repeated. This might seem like digging into minutiae, but it doesn’t have to be. Just hit those things that are done most frequently and address those. Polishing the little things builds customer trust, loyalty and lowers (or eliminates) the barriers to repeat sales, price objections and add-on sales.

Outside sales reps are even more important, so make sure they, too, are adequately trained on your product, your company and approach customers in a style you are comfortable with.  When did you last go with a rep on a call? If you do, shut up! Make sure that the customer/prospect focuses on the rep, not you. Deflect any questions they have to the salesman as soon as possible. Your deference to them builds their credibility in the customer’s eyes as the real authority so that, when they return and you’re not with them, they already have a firm foundation.

You can say something like, “Brad here is one of our top people, not only in sales, but also in customer satisfaction. I’m here to see how he does it with so much success.” Okay, Brad’s a schmuck and you want to fire him, but this could be a golden opportunity for all. Lemons into lemonade and maybe ol’ Brad gets a boost and turns into your top producer after all. It’s happened and I’ve seen it.

If need be, get outside help with training. Steve Ickes runs the Lexington branch of Sandler Institute, and they have a sales training program that works for many people. Chief Learning Officer magazine has a great site with hundreds of ideas about training and leadership development. Bersin and Associates’ website has a wealth of info, too.

To prove my point, a recent report was generated by McKinsey Quarterly based on a survey of 1,200 purchasing decisions in the U.S. and Western Europe. It stated that customers said sales reps need to be well versed in their products and know how theirs is different from the competition. More importantly, they want to know how that product or service will make a difference in their business, their life, etc. As you would expect, price was almost always second to a great experience with the vendor.

Sales training can be considered a value-add but, in reality, it should be a foundational piece of the product or services you offer. Everyone in the company needs to start from a common base of information. If you need help assessing these things, organizing a plan for your company or help creating training, please drop me a line at frank@frankcomlex.com, or by using the comment form on bottom of the page at the Frank Communications website.

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8. May 2010 by Frank Goad.

Before I started my business, I wrote Frank’s Business Manifesto (a.k.a. the Frankifesto). Written before my business plan, it is a statement of my thinking on the business and how I would run it. Without this, the business plan could have belonged to anyone. The manifesto informed the human side of my need to work for myself and created a behavioral and ethical standard that guides my dealings with friends and clients. It helped ensure that my heart, head and will were all in line together.

I’m sharing this in the hope that others will take the time to create one for themselves and refer to it often. This is a personal statement of what’s important in your work and life. If mine suits you, please, help yourself. Short or long, having one is akin to giving yourself a compass to navigate your career.

1. I believe I have creative talents and business skills sufficient to make a good living.
2. I will carefully choose trusted advisers because there are many who are well-meaning but blessed with far more opinions than knowledge or wisdom.
3. Despite the admonitions and warnings of others, even those who mean well, I will rely on my trusted advisers for feedback and honest criticism. This helps insulate me from those whose intentions are not favorable or honorable.
4. I will seek advice knowing that everyone needs help sometimes, and not asking is a larger sign of weakness.
5. I will also seek help because going it alone can be frustrating and unfruitful, and a little encouragement is priceless.
6. I have the requisite intelligence to understand the advice I seek and to apply it accordingly.
7. To be truly successful, I must help others succeed as well. This is my prime directive.
8. I have the requisite personal skills to network effectively and develop mutually beneficial relationships.
9. To be truly happy in my career, and in reflection on previous negative career choices, I will be true to those vocations that bring me joy.
10. By being joyful in my work, I will serve others well by finding ways to share that joy with them.
11. I am fortunate in that I have talent in several areas (as do most people), and will utilize them all to be useful to others and myself.
12. In keeping with today’s markets and the rapid pace of change, I will do two things: A. Combine my skills to take advantage of a wider range of opportunities (in keeping with my self description of being “A generalist in an age of specialists,”), and; B. Always consider ways to help others by utilizing whatever skills I can bring to bear (see no. 7).
13. I will be honest with myself and all those I deal with, else I will become irrelevant and perhaps shunned –  dishonesty is not an option.
14. In the face of lean times, adversity and downright bad luck, I will remain steadfast knowing that up and down cycles are inevitable.
15. During a down cycle I will display courage – if only to myself – because strength comes from within and self-employment is fraught with challenges.
16. I will give this endeavor my very best effort. Should my successes be insufficient to allow me to continue my self-employment, I will accept this with grace and dignity because I hereby acknowledge from the beginning that many can not survive on their own despite their best efforts; sometimes, things happen.
17. Whether successful or not, I will have succeeded in pursuing a worthy goal and will have displayed significant courage if only because I dared to strike out on my own, something far more people have neither the courage, desire or vision to do.
18. I will always remember that not having tried would be the biggest failure of all.

This became a bit of a litmus test: Was I really ready to work for myself, or did I need the safety and security of an employer, a regular check and benefits? The answer became obvious and now, Frank Communications is beginning to hum. The first three months were tough – doubts nagged me and seeing my bank account drift down made me quite uneasy at times. Now, the months of hard work are showing returns and I arise each morning excited about the day to come. It’s a lot of work, but the satisfaction of building my enterprise, creating new business relationships and having the opportunity to make a difference in people’s lives is a huge return on my investment of time and energy.

Posted in self-employment, business plan, Frank Communications, Frank Goad, FrankyGee3, "The Frankifesto", manifesto, Advertising, general, responsibilities, blessings, Frank, Uncategorized | Print | No Comments »

6. May 2010 by Frank Goad.

Public relations has changed - no revelation there - but it’s still important. The truly effective PR agent these days still courts the press and other “large” media, but they also court new media even more. PR has moved closer to marketing because of these changes, too. Chris Anderson wrote a great book called, “The Long Tail” that talks about the changes in marketing. Its premise is:

“The theory of the Long Tail is that our culture and economy is increasingly shifting away from a focus on a relatively small number of ‘hits’ (mainstream products and markets) at the head of the demand curve and toward a huge number of niches in the tail. As the costs of production and distribution fall, especially online, there is now less need to lump products and consumers into one-size-fits-all containers. In an era without the constraints of physical shelf space and other bottlenecks of distribution, narrowly targeted goods and services can be economically attractive as mainstream fare.”

What this means (as if you can’t figure it out) is that marketing and PR are no longer totally dependent on a narrow group of outlets, those being TV, radio and newspapers. (Make no mistake though: Consistent appearances in traditional media needs to be a part of any marketing plan. You still need to cover all the bases.) PR agents used to send press releases to reporters whom they hoped and prayed liked what they sent so that they would make a story out of it. The experts developed relationships with reporters and writers at the “bigs” and got a book of newspaper clippings with their work.

For the rest of us, unless it’s a truly revolutionary or far-reaching story, reporters often ignore these releases. Who can blame them? They get hundreds of press releases, most of which are not suitable for what they write about, and are sent by folks who try to cover the earth believing the odds are in their favor if they send it to anyone they can. So, what to do?

With the proliferation of platforms (i.e., new media, podcasts, etc.), you can now talk directly to the folks who care about what you have to say. Let’s pretend you’ve invented a revolutionary left-handed cow milking speeder-upper. The folks at the LHSCMA (Left-Handed Speed Cow Milkers of Albania) will get all atwitter about it, so that’s whom you talk to. If there’s a left-handed cow milker’s trade organization and they have a magazine or website, they’ll like your press release, too. It’s not just a press release, though, it’s talking to people and organizations using their mediums. Your goal is to have a marketing conversation with these groups.

What you have to do is find LHSCMA members and others who care about this and will put it in their blogs - Albanian blogs, of course - and who have websites and e-newsletters and so on. THEY are the ones who’ll care and spread the word. Find secondary organizations who read their items (the RHSCMA of course - you know who they are) and let them know. Putting an ad in Newsweek or on TV’s “Meet the Press” would be horribly expensive and useless. There was a time when that was the only way to do it - sell it to the whole world. Now you can work the long tail.

You can now be your own press agent IF you learn to cultivate the tiny grottoes of the Web, meaning, get in contact with the blogs and websites of organizations, clubs, forums, etc., who have an interest in your message. Cultivate followers on Twitter, Facebook, LinkedIn and other new media. Get a website up that has real content (and, yes, a blog) and continually update it in order to continually build value. Get their feedback and post it. Get them to link their blogs and websites to yours. Whatever you do, put up information, and not constant blather, or you’ll get tuned out. It doesn’t have to be about your specialty - just make sure it’s interesting and useful.

Most of all, don’t expect a broad-based relationship to happen overnight, or over-month for that matter (over-month: a new word, and you saw it here first, you trendsetter you). It takes time, constant effort and the cultivation of a two-way, long-distance relationship with lots of different folks. Put up new information whenever you can and then let folks know it’s there. Marketing is now a conversation directly with your audience. If you don’t have time to carry on the conversation, hire someone (and, yes, I’m available), but make sure you are talking with them or you’ll be tuned out.

Posted in Left-handed cow milkers, Chris Anderson, Frank Communications, Frank Goad, FrankyGee3, The Long Tail, Public relations, Advertising, Marketing, advertisers, Frank, PR, Uncategorized | Print | No Comments »

3. May 2010 by Frank Goad.

There’s a lot of talk about how not following the latest marketing, branding or advertising trend means you’re destined for the trash heap. People are saying that Facebook, Twitter, LinkedIn and all the other new/social media out there are the only places you should be advertising. Being told this over and over is distressing. With all the platforms (soap boxes) to shout from these days, there’s a new guru and a new must-do technique on your doorstep every day. Some of these folks are right on target, and some aren’t.

I’m kind of old school and believe that there are tried and true techniques that technology will not change. People are people and we pretty much have the same motivators that we always have. Nothing substitutes for sound business practices no matter what the latest technology and current trend is. So, before you jump on the the next band wagon, think about these first:

1. Go back to your business plan – are your daily operations in line with it? That document is the foundation of any business. Do you have a thoughtful, well-considered mission plan? Do your employees know and understand these? Case studies abound outlining how a failure to follow a company’s own core directives led many to serious trouble. Everyone in an organization needs to embrace these documents. On the other hand, are you doing well because the market changed you? If so, maybe it’s time to update it to align with what’s working now. Here are Tom Peter’s five favorite questions that business owners and managers need to ask. These can help you evaluate your business plan and mission statement:

• What is our mission?
• Who is our Customer?
• What does the Customer value?
• What are our results?
• What is our plan?

2. Remember that when someone is telling you how great a certain thing is, they likely have a personal incentive. Some folks have a truly great idea, product or service; others are just selling snake oil. If your gut says it seems wrong, listen, but do your research and talk to folks you trust. Our gut reactions are important and should be listened to, but they’re not always right either. Yes, include me in this - advice should be patiently considered to see if it aligns with your operations.

3. Do your own research because no one knows everything. Some of my favorite books are “Made to Stick” by Chip and Dan Heath and just about anything by Seth Godin. Tom Peters has been dismissed by some as being out of step, but he’s still a genius; the same goes for Peter Drucker. The American Marketing Association has a wealth of ideas on their website. Go, read, learn!

4. Remember that there is no silver bullet, magic potion or marketing amulet that will make customers magically appear. A thoughtful, balanced approach that spells out what you’ll do for the year is important. Advertising requires - repeat, requires consistency. Your marketing plan needs at least six months to be effective.

5. Track your marketing and advertising, otherwise you won’t know what’s working. It can be as simple asking customers how they heard of you. Coupons and special offers are good, trackable ways. Let’s say you put a coupon on your website, run a print ad and also have a radio promotion. The web coupon has a code of wb01; print’s is prt01 and the radio’s could be, “Just mention that you saw this ad to get 10% off your order” Make sure your employees track this, too. Once you and your employees get in the habit, it’s no extra effort at all.

6. Take your advertising and marketing’s pulse on a regular basis. Ask your salespeople what they’re hearing about your company, your competitors, the market in general. They’re an excellent source of intelligence. Likewise for delivery drivers, receptionists and all employees who talk regularly with the public. Train them to get feedback and info and give them questions to ask.

7. Do your own market research or get professional help. Surveys and questionnaires are awesome feedback mechanisms. For instance, collect email addresses from your customers, send them a simple survey that will take less than three minutes to complete and let them know that, upon completion and return to you, they will get some special offer. Or, call The Matrix Group in Lexington, one of the finest research companies around. They will get you info that covers all the market, not just your customers and uncover insights that a typically polite customer won’t say to you.

The basics don’t change even if the technology to do them does. Build on this foundation and watch your business and profits grow. Remember: Advertising and Marketing are investments, not expenses.

Posted in Frank Goad, FrankyGee3, Frank Communications, Frank, Marketing, Advertising, general | Print | 1 Comment »