by Bert Shlensky | Oct 21, 2019 | Marketing
So, you run a business, huh? You probably provide some sort of product or service, right? Okay. So what? Who cares? There are a lot of products and services out there to choose from; why should I give a damn about what’s your brand?
Branding and marketing have
dramatically changed, but marketers are still ill-equipped and reluctant to
incorporate the changes. While creativity, branding differentiation, and
advertising used to rule the field, the rapid growth of companies like Amazon
have made value, service, quality, and culture more important. Now, more than
ever, it’s obvious that details, the execution of logistics, and operations are
integral marketing opportunities.
Consider these new key
perspectives:
- Branding is not what you tell
them. Branding is what they think of you.
- Your customers determine the
value of your products—not you!
- We all know the adage:
Features tell, benefits sell. So, if this is true, why do so many
entrepreneurs still focus on the features of their product or service rather
than the benefits? Your prospective customers don’t care what your product or
service does; they only care about
what it does for them!
No one cares about a cool logo or a fun design. No one cares about creative
packaging. Consumers care about being satisfied. No one cares about your brand
unless they have a good experience.
Therefore, “branding” is actually more operational. So, how do we
shift our mindset from the old “traditional” way of branding and refocus on execution?
Make A Good First Impression
That first experience leaves a lasting impact. Is your store clean? Were the employees friendly? Did you have what the customer needed in stock? Is your website easy to navigate? Details matter. That’s why people hire designers to build websites and decorators to create ambiance. If a consumer’s experience wasn’t memorable in a positive way, you may have lost them. If their experience was bad, you’ve definitely lost them. What’s your brand is how they walk away feeling because that’s what they will remember.
Have a Strong Digital
Presence
Nowadays, everything is digital. It doesn’t matter if your
business is virtual or brick and mortar, you need to have an online presence.
I’ve seen people intentionally avoid a particular store or restaurant because
their website looked out of date or they had bad reviews on Yelp.
Things to consider: Is your website easy to navigate? Is
your store easy to find on Google Maps? Does it even come up in a Google
search? If a potential customer can’t find your store on the first try, chances
are they’re giving up and going to whichever store they could find easily in
their Google search.
Digital Branding needs to be comprehensive. You should have
a website, social media accounts (Instagram, Facebook, Twitter), and positive
reviews on sites like Yelp.
Do Not Neglect Operations and Execution
Adequate staffing, prioritizing services, and having enough supplies
to meet customer needs without incurring excess expense is critical. Pizza
parlors need to plan ahead for Super Bowl half-time deliveries, right? This
might not be your particular problem, but every business has its own version of
the “half-time rush.” If a first-time customer tries to utilize your service
and is disappointed, you’ve probably lost them.
Provide Service with
Integrity
Obviously, the goal is to always provide quality service the
first time, but we all make mistakes. If you do mess up, own up to it and try
to make it right. Many cafes offer free drink coupons when an order isn’t made
correctly. Acknowledging the error and attempting to make it right can
sometimes prevent a lost customer.
Brand Does Not Determine Price
Traditional pricing models no longer apply in today’s world
of business. Entrepreneurs who recognize this will be better able to price
their goods and services appropriately. In the past, it was thought that a
well-known, desirable brand meant you could charge whatever you wanted and
people would pay. Now, search engines make it incredibly easy to compare prices
and analytics are showing that, in reality, a low price is more important than
a brand name. In fact, there are tons of people who may want the prestige of a
designer bag, but are just as happy buying a knockoff.
Effective pricing strategies vary widely depending upon a
number of factors. Consider alternative pricing tactics as well as the entire
pricing package. It’s also imperative to remember that pricing is dynamic. Just
look at Amazon and airline companies: you can search the same product or flight
two days in a row and the price may shift. Demand determines price. Some
companies even brand themselves based solely on things like “the lowest price
option.”
Offer Convenience
In this day and age, if you’re not providing some sort of
ease of use or accessibility, you’re dead in the water. Try to offer some sort
of convenience, such as easy payment plan options, delivery, or 24-hour
customer service. Making your consumer’s experience efficient and convenient makes
your brand “user-friendly.” And who doesn’t want to be thought of in that way?
Company Culture
This is one of the most
important components of branding. Creating and maintaining a positive company
culture is a critical component in achieving excellence and establishing a
great brand. People remember experiences. They may not remember what they were
buying, but they’ll remember the employee who was rude to them. Please and
thank you always go a long way.
Your Brand is an Experience
Know your strengths. What makes you interesting and
different from your competitors? This doesn’t necessarily mean “better.” Two
different soaps can clean equally well and cost the same amount of money, but
if one comes in fun animal shapes… that stands out. It’s different. It’s
memorable.
There are people who shop at Saks Fifth Avenue, but also frequent
Costco. These consumers aren’t worried about price; they’re looking for an
experience—and they will receive a very different one at each location, but
both will be satisfactory and in alignment with their desires. People enjoy
shopping on Amazon because they like the experience of purchasing items from
home, in their sweats. Successful brands have clear, distinct experiences.
So, what makes your brand
unique? What experience are you providing? And why should anyone give a sh**
about what you’re offering? We’d love to hear your feedback in the comments
below!
Contact us at: Bshlensky@startupconnection.net or 914-632-6977
A customized approach that caters to each of his clients’ specific needs is what sets Dr. Bert Shlensky apart. With a PhD from the Sloan School of Management at M.I.T., he focuses on implementing individualized strategies that have helped countless businesses increase sales and profit. He knows what works and has the experience and expertise to help you take the steps necessary to achieve your business goals.
by Bert Shlensky | Sep 13, 2018 | Operations
Operations is finally getting its rightful place in small business strategy. Automation, technology, customer needs, and the sharing economy are becoming vital components of the branding and marketing process. In order to achieve marketing success through operations, here are some examples:
- In sports, analytics can be used to improve the individual impact of player skills. Defensive shifts in baseball, the three-point play in basketball, and increased passing in football are fundamental changes that have been accelerated by analytics.
- When selling on the internet first started, delivery and security were thought to be major barriers. Today, customer service and delivery in 1-2 days are generally standard. In addition, the internet has proven that eliminating stages of the sales process (like those used in brick and mortar stores) can dramatically reduce costs and prices.
- Creativity, differentiation, and advertising have been the focus of traditional marketing and branding programs. However, issues like value, service, quality, and culture are producing better results. Compare the focus of many brands in department stores, versus Amazon and other leading online sites. I argue that online retailers succeed partly because of the lack of technological skills among many traditional marketing professionals.
Here are some ways to improve marketing success through operations:
1. Digital Branding and the Internet – If you research anything about business today, it’s obvious that Apple, Google, and Amazon are three of the most important sales and communication vehicles. Nearly everyone uses their phone and/or laptop to research and buy products and services. However, the digital efforts in many companies are still buried in departments like accounting or marketing. I argue that digital activities and marketing need a special place in organizations and should be a major part of marketing programs. For example, digital activities need to be an integral part of efforts like emails, websites, sales, marketing, social media, logistics, and customer service (and should be treated that way.)
2. Excellence – There is an ongoing debate about pursuing excellence versus change just for the sake of change. This topic is affected by several issues and we need to understand how problems can require different solutions. Businesses are subject to radical change, so they need to build mechanisms into their processes. While we will face more uncertainty and instability, we need to focus on changing and simplifying processes to reduce the risks. Strategies like pivoting, developing and testing/measuring/adapting need to be built into our organizations.
3. Service – Service, image, and culture are frequently the biggest (and often least expensive) ways for small companies to develop a brand and differentiate themselves. Some suggestions:
- Focus on your target market, segment, and your ideal customer.
- Be polite, listen, and then act based on what you have learned.
- Become a trusted resource to your prospects by providing information that will help them make a good choice.
- Build an email list and send informative mailings on a regular basis.
- Keep in touch with potential and existing customers.
4. Company Culture – Creating and maintaining a positive company culture is a critical component in achieving excellence and establishing a great brand. A great strategy without a supportive culture will undoubtedly fail. I’ve seen it happen too many times.
Open systems are becoming a critical aspect of great cultures and they often reject bureaucracy, authority, and hierarchy. Open systems encourage participation, diversity, new rules, and to some extent, chaos.
There is no better example of this than the Golden State Warriors, who just won their third NBA title in four years. Much of the attention is given to their super stars, but if you look behind that, you see how the entire organization (including the training staff, coaching staff, medical staff) are all united to create excellence and a unified culture.
5. Prioritizing with the 80-20 Rule – Prioritizing can produce dramatic results. In particular, focusing on strengths and eliminating weaknesses has dual benefits. For example, I have a client who has the best product in the industry, but charges a little more money. She has achieved success by moderating some prices, but mostly in developing messages that explain her quality difference.
In the modern business realm, it has been proven time and time again that 80% of business revenues are generated by just 20% of our customers. Yet we all continue to waste time, money, and inventory dollars on customers that bring in a lower return. This tendency also frequently adds confusion and complexity.
By focusing on the products that you know your customers want, you’re making them feel much more confident (especially when you’re selling online.) Instead of finding new ways to market products that simply aren’t selling, you may be better off to shift over to what is selling. If you give people what they’re searching for, they’ll buy. If you don’t, they won’t. It’s that simple.
In summary, operations, and logistics should be viewed as a critical opportunity to improve sales, profit and competitive positioning. While there are some technical aspects to this, it is the thought process and integration of the key components that will lead to success.
Dr. Bert Shlensky, president of Startup Connection ( www.startupconection.net ) has an MBA and PhD from the Sloan School of Management at M.I.T. He served as the President of WestPoint Pepperell’s apparel fabrics business and President and CEO of Sure Fit Products. Having provided counseling to over 2,000 clients, he now focuses on working with select start-up and small businesses.
by Bert Shlensky | May 11, 2018 | Marketing
OVERVIEW
At Startup Connection, we believe that the skill of communicating passion for your business — in the form of a refined “elevator speech” or mission statement — is a pure necessity to your success.
Mark Twain is often credited with saying, “I would have written a shorter story, but I didn’t have the time.” These days, we refer to a very short synopsis of your business as an “elevator speech,” and in this article, we’ll call it “the sales pitch.” A sales pitch is a concise, carefully planned, and well-practiced description of your company that anyone should be able to understand in 60 seconds or less. Learning how to give a great sales pitch is a valuable way to share your message. It is also a great way to truly refine the essence of your company’s vision and plan. On one hand, starting the sales pitch is not easy, and it requires some effort and practice. On the other hand, the process should be made as simple as possible.
One of the best strategies we suggest is to start with taking less than one hour to write a first version. Focus on your idea, passion and emotion in this draft. Don’t worry about content, format, or style… we can help you fix all that later.
The sales pitch is as essential as your business card, and you have about one paragraph to get the attention of your audience. You need to clearly and rapidly be able to communicate who you are, what you do, and how you can help your listeners.
Before you can convince anyone of your business proposition, YOU need to know exactly what that business proposition is! You need to define precisely what you are offering, what problems you can solve, and what benefits you bring to prospective customers or clients.
Specifically, the sales pitch answers some of the following questions:
- Who are you and who is your company? For example, “My name is Jim Cando and my company are Cando Widgets.”
- What are your key products or services, and what are their strengths? “We make awesome widgets that are guaranteed to make you healthier, richer, and happier. Our widgets are made with 100% healthy ingredients, cost less, and are easy to use.”
- What adjectives come to mind to describe your company? Avoid common words like better, bigger, and well made. Instead, think of emotional terms like indestructible, exciting, or scrumptious.
- Who is your target market? Be specific in terms of age, lifestyle, location, and income. “We target millennial men who work out and are looking for a shirt that fits”.
- What problem do you help customers solve? Talk about benefits instead of just descriptions. Examples of benefit statements include: “We help you save time and money,” “We make what is usually a horrible experience into something satisfying and exciting,” or “We understand our customers, and ensure that they have the best product selection.”
- What is your business model and strategy? For example, “We are a home service company. Our goal is to develop a base business of 500 customers and $1 million in revenues, and then to grow 10 to 20% per year. We plan to spend 15 to 20% of our sales on internet marketing, materials demonstrations, and exceptional customer service. Our profitability is derived from our low overhead, competitive margins, and growing brand.”
- Who is your competition and how are you better? For example, “Our competition is anyone who sells widgets. We offer the right product at the right price, with great customer service and product selection. We save customers money by helping them purchase the most effective product (rather than the cheapest or one with the most bells and whistles) based on what they need.”
Your challenge is to deliver a great pitch that will make someone want to know a whole lot more about your business.
WORKSHEET
Basic Elements of a Good Elevator Speech
Once you have developed a good sales pitch, you will be amazed at how handy it is, and how often you use it in a variety of settings. To be sure your pitch is top-notch, here is a checklist of important elements to consider:
- A “Hook”: Start with a hook, a statement or question that piques interest and makes the listener want to hear more. A hook can be a surprising or amazing fact. For example, if you were marketing a product geared towards entrepreneurs, you might start with “More than one out of every two Americans works for or owns a small business.”
- Length: Your pitch should be less than 60 seconds. If your sales pitch runs on for too long, you risk losing the interest of your listener. Get to the point you are trying to make, and explain why it will benefit your target audience.
- Passion: Listeners will expect energy and dedication in your speech. If you aren’t excited about your idea, why should the listener be? Why is this idea exciting, and how will it benefit your target audience? This must be conveyed in your sales pitch.
- A Request: At the end of your pitch, you must ask for something. Are you looking for capital? Strategic partners? New markets? Use the fact that you are with the customer to your advantage – ask them to take advantage of this opportunity and close the deal on the spot. Always establish a follow up question, in case your target is unable to commit outright.
- Practice: Be sure to spend time developing, practicing and testing your pitch. Create short videos of your pitch and critically review your presentation. It is imperative that you convey confidence in your product, and how it will benefit the customer.
Think about your ideas and call me for some free mentoring. I know it is not easy, but the more you work on defining your business, the more comfortable you will become. Call today at: (914) 632-6977.
Dr. Bert Shlensky, president of Startup Connection ( www.startupconection.net ) has an MBA and PhD from the Sloan School of Management at MIT. He served as the president of West Point Pepperell’s apparel fabrics business & President and CEO of Sure Fit Products. Having provided counseling to over 2,000 clients, he focuses on working with select start-up companies and small businesses. Call today for a free consultation, so we can use our business plan templates to take your business to the next level.
by Bert Shlensky | Aug 25, 2017 | Planning
Say what you want about trademarks and logos. They have their place. But if you’re really looking for brand development, making sure it’s successful in the market you’re targeting, there are three aspects you have to focus on the most:
You Simply Ask Yourself These Three Questions About Brand Development: What Are the FEATURES, What Are the BENEFITS, and What Are the ADVANTAGES?
Real quick, if you don’t know the answers to those questions, simply start researching. Get them. Without
them, your brand isn’t a brand. But just a name. And there are a lot of names out there!
The thing is when you’re building your brand, educating your consumer base about the “holy trinity” does a few things — it lets your customers know what the product/service is, why it’s great, and why it’s better than the rest of the competition. We’re talking about a 1-2-3 combo, and if you were a boxer, that’s a knockdown on the 3rd round for the championship belt without breaking a sweat! You’re, of course, asking just why these three together make so much of a difference in your brand development.
- Features — The “features” of your product and service happen to be exactly what it is. The specs. What your product/service does and provides. This is the nuts and bolts. The basic understanding. After all, customers may know what a fork does, but they had to have that explained to them when the fork was first introduced into the consumer market, right? These days, though, features don’t come across as that simple, hence why aspects like warranties, ease of use and distribution return privileges (the added “features”) make a difference as well.
- Benefits — Here’s where we get a little tricky. The benefits are like the “features” except now we’re going above and beyond what the product/service does. Why does it do what it does? That’s the question. We now know what a fork does. But why do we need one? To effectively eat our chicken Caesar salad, of course, without any of the lettuce falling off! Now that’s a benefit. But it’s only a benefit if the customer believes he/she needs it and sees it as valuable.
- Advantages — And, of course, lastly, it’s pretty obvious why a fork would be better than, say, a SPOON when eating chicken Caesar salad. This is where you have to explain what the advantages are. Target your competition. Set yourself apart. Sure, the spoon’s great for cereal, but when was the last time you successfully ate a salad with a ladle? These days selling the advantages of a product or service has been getting much more cutthroat and vicious with the shorter attention spans and seamless Internet communication capability.
Hence why more now than ever we focus on these three even heavier than before as part of branding. Packaging your product/service in this way along with that name and logo gets you started on the right foot. Plain and simple.
Now Get Started With Your Brand, Ring the Bell, and Make It Happen
Of course, I can help you with everything you need in propelling your small business, all the nuts and bolts. But you need the vehicle first. Here are the parts. Start building. And I’ll see you soon.
Dr. Bert Shlensky, President of The Startup Connection, directs all small business clients toward maximum sales and profit thanks to his 40 years of high-quality experience. He does this through technological, social, and online integration, supercharging your business success into the next level, so don’t hesitate to sign up for a free consultation RIGHT NOW.
by Bert Shlensky | Aug 4, 2017 | Marketing
We know you know why your brand will be a success. But do your customers know? Not yet, obviously. That’s why when you’re branding your business , you not only need to convey your image representing your vision, mission, and distinctiveness, but also what your product or service can offer to a potential client. Sounds easy, but you might be missing the point when fleshing out what you’ve got to offer — in other words, the product/service doesn’t have to just be good, it has to be good for your customers, and even more importantly, you have to prove it to them.
Now That Doesn’t Sound as Easy, But Thankfully We’ve Broken It Down for You — Into 3 Key Benefits to Branding Your Business
Keep these three things in mind when breaking down your product and service, and you’re that much closer to sealing the deal in nailing a portion of your industry. Your customers will see that your products or services aren’t just good — they’re most likely better than the rest, and something they should have:
- Quality — How would you describe this? Is it about the way the product looks? What it’s made of? How it works? What the results are? How does it compare to the competition? Identify this, know how to communicate it, and you’re well on your way to targeting the sale.
After all, IKEA may be great utilitarian products optimally priced, but they’re not made to last a lifetime. Quality matters.
- Convenience — In this day and age, if you’re not offering some sort of ease of use or accessibility, you’re dead in the water. So try and angle your brand to offer some sort of convenience — easy payment and delivery, easy contact (24/hr customer service), offering efficiency for your customer in some way.
Heck, even the little stuff we take for granted — remembering customer names, follow-up sales calls, developing personalized solutions — matter way more in terms of convenience than those horrible tip cups you find at the fast-food restaurants.
- And Lastly, Value — It’s one thing to nab the customer…. But to keep them coming back? That’s the golden ticket. Your product or service can’t be just a 1-time thing. It has to be a many-time thing. It’s called customer retention; keep them coming back, and you’ve got guaranteed revenue. The question is how you get them to come back. What’s the value of your brand? Go beyond the features of the “right now” of what makes your business so awesome. Think beyond and ask yourself how your product/service will benefit the same customer you sold last year.
Think Nieman Marcus, Costco or Amazon, for example: you’ve got uniqueness with each, yet the value‘s all the same. Especially with those free samples from Costco!
All else being equal, you just make sure you have this trinity of aspects in branding your business.
Truly, Your Brand Could Be Anything — as Long as You Focus on Quality, Convenience, and Value
Simply ask yourself how is my brand good, can my customers get my brand, and will they come back over and over again. It’s a magic formula. You now have the ingredients.
Dr. Bert Shlensky, President of The Startup Connection, directs all small business clients toward maximum sales and profit thanks to his 40 years of high-quality experience. He does this through technological, social, and online integration, supercharging your business success into the next level, so don’t hesitate to sign up for a free consultation RIGHT NOW.
