It is easy to get carried away on emails, responding to unimportant mails, reading interesting articles and generally wasting time.
Monday, December 05, 2011
Reducing time spent drifting
It is easy to get carried away on emails, responding to unimportant mails, reading interesting articles and generally wasting time.
Wednesday, November 30, 2011
Bring out the FAB benefits
Reading a new business plan today reminded me of the importance of differentiating between Features, Advantages and Benefits (FAB) and putting far more weight on benefits than features or advantages.
So what is the difference between features, advantages and benefits?
· Features describe what a product or service does e.g. searches through a million pieces of data a second, sends a repair person within 4 hours, utilises 25 years of industry experience
· Advantages tell you why the offering is better than other solutions e.g. speeds up your data processing, offers a quick response in case of breakdown, provides advice taking into account knowledge of what works
· Benefits are the ways that the product solves real customer problems e.g. “We now save time and money finding the right information quickly”, “The cost of downtime is reduced”, “We are beating our targets by adopting tested solutions”
Features of your own product or services are dear to your heart and seem fantastic and really cool , because you have usually spent months or years developing them and working out ways to do more, more quickly, more efficiently than has ever been done before. But they can be just dry facts to customers who have their own perspective.
You are only going to sell your offering if it solves some of the needs of the customer – or ideally, if it reduces or eliminates some pain they are suffering. So you need to set out, in your marketing material and in your sales pitches, the benefits that will come from buying from you.
The best way to show this is to use the words of actual customers. You should constantly be checking what customers like most about your product. Sometimes you will be amazed that some simple feature (for example a simple prompt to remind them of the next action) has far more value than some sophisticated capability. But if you are trying to in more customers in the same market, what your existing customers find most attractive is likely to be what will convince prospects to become new customers.
If you are a start up with no customers or are entering a new market, then you may not have relevant quotes from existing customers but you should test out your offering on some friendly potential customers and you can gain their reaction. In the very early stages of developing a new offering or addressing a new market, you can even put yourself in the shoes of the customers you are trying to help and think what they would most like.
I have talked about features then about benefits but jumped over advantages. Advantages can be a good stepping stone to working out the benefits, helping you think about what useful work your product or service can do for a customer.
You may want to list the features somewhere in your marketing material, especially for any technical readers, and setting out the advantages may help you tell the story of what you are offering. But talking about the benefits using the actual words of customers is the most important part of your description. The prospect must believe that it will solve their problems, make them work better and make them feel better.
Sunday, November 20, 2011
Building your community
Wednesday, November 16, 2011
Remarkable or reliable?
Saturday, September 17, 2011
First Impressions - be a Receptionist
Thursday, September 15, 2011
Porous to Pitch
As well as food for thought on business opportunities, I also picked up one phrase I really liked, from Rob Lewtas of UKTI (UK Trade and Investment) when he talked about making people "porous to pitch".
It highlights the fact that whenever you are pitching to people, trying to sell products, services or your own talents, you need to do your best to ensure that they are in a receptive mood. If your audience is distracted or bored, then even the best arguments and most convincing benefits will have difficulty persuading them.
To make people "porous to pitch" you need to use timing, tone and listening
- timing: if someone is hurried, give them brief details, explain that you would like to speak to them at some more convenient time and book a better time when they will be more relaxed and you can do your message justice. Similarly if the location is making someone uncomfortable, find a better place and time
- tone: when meeting someone in an informally, such as a networking meeting, do not go into a hard sell but explain briefly but enthusiastically your offering. You can even talk business in a purely social setting if it fits well into the conversation, but do not push it or you will turn people off (make them 'impermeable to message'). Also some conversation on a shared interest or some light-hearted talk can make your audience more receptive
- listening: ask what their needs are in the areas where you have products or services to offer. What they say will help you make your pitch relevant to them and so make them more receptive to it. How they say it will help you work out the first two points: whether the timing is right and what tone to adopt
Friday, August 12, 2011
Look for the communicators, not the geeks
Geeks love technology but they are often some of the worst people at communicating. On the other hand there are lots of people in most organisations who are already great communicators. They may be anyone from receptionists to project managers to HR specialists but they will stand out because you can see how well they engage people offline. It is far easier to train them in social media than it is to train most geeks to engage the people with whom they have online discussions.
Friday, July 15, 2011
Reality behind the "Social Media" hype
It is the marketer's job to explain this to businesses who are interested in finding out more. There are four important points that should always be made:
- Social media is about engaging with others: prospects, customers, suppliers, influencers, affiliates and others. Engagement involves a two-way conversation. If an organisation is not prepared to listen and respond, then it should not expect to gain much from participating.
- It is not a panacea for all your problems. You have to spend time and effort listening and then you may hear about issues and views that are difficult or embarrassing. But it is always better to confront these than have them simmering in the background. If a dissatisfied customer does not get a good response from you then she or he will almost always tells others about your poor service (on average nine other people). But research shows a customer whose complaint is handled well will become more satisfied and a greater advocate of your brand
- Social media is important for businesses - Comscore's latest report shows that social media accounts for one out of every six minutes spent online in US and other countries are catching up fast. Key sites include Facebook, YouTube, LinkedIn, Twitter, Yahoo! & Tumblr (with Google+ likely to join them once it is on full release).
- Because it takes time to participate properly on each site, organisations should choose the sites on which they participate carefully to ensure that they have the resources to contribute and respond. It is better to be only on one social media site but post your news and thoughts there regularly, responding quickly to comments and commenting on other people's interesting posts, rather than trying to cover all the major sites and not keeping up on any of them.
Wednesday, June 08, 2011
Why is the Network Effect overlooked in the Mobile World?
All of the leaders have benefited from the "network effect" which makes a network become more and more attractive as its numbers grow. Metcalfe's Law states that the value of a network increases with the square of the number of members. So the first software that implements a "must have" new feature and by good execution builds up a reasonable number of members benefits from the bandwagon effect - everyone wants to join that particular network, because of the number of connections they can make as soon as they join, and it is very difficult for a competitor to build their own network to usurp the number one position. The bigger the number one, the more it dominates and weakens the competitors.
But in the mobile world, operators are regularly categorised as just "dumb pipes" despite the fact that they have the benefits of large networks - the millions of subscribers with whom they have not just a relationship, but a billing relationship They may not have exploited the relationship fully in the past. But as social networking becomes mobile with more and more people using their mobile phones to share information, news, likes, photos and videos with their friends, they are in a position to exploit their connections.
In our increasingly globalised communities we also have to remember not just the hype about the latest smartphone and what it can do on fast networks, but also the billions of users, particularly in Asia and Africa, who are still on featurephones and just starting to have the capability to do simple mobile networking. The network effect of those billions will dwarf the existing networks and this gives mobile operators have a huge advantage they can exploit.
Vodafone's interview in GSMA's Mobile Business Briefing, published today, shows they understand this potential.
It is also something well understood by FlyTXT, the mobile marketing and advertising company in which I am an investor, whose software allows operators to manage targeted communications to different user groups with pinpoint accuracy.