March 3rd, 2008
By: Shama Hyder
What do Willy Wonka and Chris Anderson (editor and chief of Wired magazine) have in common? They both believe in giving as a marketing strategy. Willy Wonka gave a free tour of his chocolate factory, garnered lots of free publicity, and in the process got people to buy tons of his famous Willy Wonka chocolate bars. Chris Anderson shook things up by writing a recent article in Wired magazine called "Free! Why $0.00 Is the Future of Business."
The brazen idea? Giving away products and services can actually help your business. It’s actually not that wild of an idea. Here are 5 principles behind giving as a marketing strategy
1) Altruism is not out the door- Just because you leverage giving as a business strategy doesn’t make it less wholesome or any less whole hearted. There is nothing wrong with altruism serving dual purposes. Now, you can argue that some people give only as a means to get. In which case, people will see through it pretty quickly. True givers will always stand out.
2) Free creates demand- Sounds odd, but it’s true. When Gillette first introduced the art of shaving at home-no one was buying the idea. Until, they started giving away free razors. The razors were useless by themselves, but in turn, created a high demand for disposable blades. This principle also applies to the service industry. For example, I write lots of free articles which are then distributed through my blog, eZine, and other directories. And these free articles constantly bring me new clients. In fact, the more I give to the community, the more I seem to get back.
3) Don’t keep score- Measurement is a big part of marketing. This is true. However, not all gains have to be quantified. By giving, you can increase your name recognition, strengthen your expert status in the community, and genuinely be of service to someone else. In the long-term, these things matter as much as the bottom-line.
4) Sampling is a selling tool- Studies done in grocery stores consistently show that consumers who sample an item for free are more likely to buy it. People like to experience things before they part with their cash. This is why lots of coaches and consultants offer complimentary consultations and sessions. It allows you to get a feel for their style and method.
5) Sometimes the market is used to free- While it’s easy to make a paid product free, it’s hard to do visa-versa. Sometimes the market it too used to getting it for free. When Amazon’s Kindle, an eBook reader, was released many people didn’t like the fact that you couldn’t upload your own eBooks or PDFs. You had to buy them directly from Amazon. Another example is eZines and newsletters. Most of these are free. Those who charge for such products often have to work very hard to get people to accept them.
The question now is- How will you utilize this strategy to benefit your business?
Posted in Leaders with Intuition, Marketing Your Business | 2 Comments »
February 18th, 2008
By: Shama Hyder
Recently, I have been on a networking spree. I have been attending one networking meet after another. It’s been wonderful to hear people’s stories and learn about their businesses. However, I am truly shocked by how little people know about marketing. 80% of the people I met could not truly articulate what it is that they did. And 95% of the people I met made the number # 1 marketing mistake in my book-
They Jumped the Gun!
That’s the American way of saying they rushed into their pitch.
Here is an example:
Sally- Hi, I am Sally. I am a consultant.
Me- Hi Sally. Nice to meet you. What kind of consultant are you?
Sally- I help businesses.
Me- That’s great. How do you help them?
Sally-Oh, with whatever they need really.
Me- (thinking to myself)-Does she clean offices? I doubt it.
Sally-What do you do?
Me- I help independent professionals who are struggling to attract more clients.
Sally- That’s wonderful. I think I could help you. When can you get together? I would love to tell you all about my business.
Business relationships are a lot like personal relationships. You can’t rush into anything. If you go too fast, you will scare the other person away. Most people think that business is done this way:
Meet–>Sell–>Re-Sell
But that’s wrong.
Business is actually done this way:
Meet–>Connect–>Build Trust–>Share an Experience—>Sell.
If you are thinking "But Shama, that would take forever," think again.
The 5 steps above can be done in a matter of days, but a successful sale needs to follow that order. The bottom line when it comes to selling is- friends buy from friends. If you aren’t making friends, you aren’t selling.
The BEST selling advice I can give you is to SLOW down. You want them as a client. You know you can help. You are just itching to jump on board and save the day. Still, slow down. You have a better chance of getting the client if you do.
Posted in Leaders with Intuition, Marketing Bloopers, Marketing Your Business | 11 Comments »
January 31st, 2008
By: Shama Hyder
One of the first things I do when I work with a new client is help them get over their "marketing fears." It’s a crucial step when it comes to marketing successfully. Even the most self-confident professionals have a few looming fears in their heart of hearts.
One common fear that I encounter is "fear of success." This fear manifests itself in many ways. Take a look at some of these-
- "If I get too many clients, how will I have time for my family?"
- "What if I get the clients and then mess up?"
- "I will turn into a workaholic"
- "What if I am not as good as I think I am?"
These fears feel very real to the individuals who harbor them. There are many ways to get rid of negative thoughts. One powerful process that I am a big fan of is called The Work. The Work was invented by Byron Katie to help people get rid of their stressful thoughts by a process of simple questioning. It involves taking any stressful thought and turning it around using four questions.
Let’s try it now on a thought related to the fear of success.
Client’s Fear: If I get too many clients, I will turn into a workaholic.
Q1- Is it true?
Client: Yes. My dad was the same way. He built up his business and then turned into a workaholic.
Q2- Can you ABSOLUTELY know it’s true? (Can you ABSOLUTELY know that you will turn into a workaholic if you get too many clients?)
Client: I suppose I have no "absolute" proof because I have never had too many clients. *smirk*
Q3- How do you react when you think that thought? (How do you react when you think you will turn into a workaholic?)
Client- My shoulders start to feel heavy. I can just see my family moving away from me…missing my son’s baseball games, being tired all the time. It’s a feeling of fatigue.
Q4- Who would you be without that thought?
Client- *Laughs* I’d be happier! I guess I wouldn’t be so scared to tell more people what I do. I hold myself back at networking events. I wouldn’t carry the fear of losing my family all the time.
(Now what’s known as the "turnaround" happens. This is where a statement that feels true as or truer than the earlier sentiment replaces the stressful thought.)
One Potential Turnaround: There is no proof that I will turn into a workaholic. I am not like my father. In many ways, I am his complete opposite.
This practice can be applied to any area of life. I find that it’s very helpful in battling marketing fears.
What do you think?
Posted in Leaders with Intuition, Managing Your Business, Marketing Your Business | 1 Comment »
