How These Two Things Can Affect Your Marketing

Thursday, May 27th, 2010

It’s not always the tactical issues that can throw a wrench into your marketing plans.  Sometimes it’s your thoughts and feelings that can stop you cold in your tracks.

This video (less than 4 minutes) is from a talk I gave at the Amsterdam Business Lunch about how to attract more clients.  In it I talk about the first step to attract more clients.  You can get the full report, for free, on all 7 steps to attract more clients at my website: http://www.fireflycoaching.com.

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Have You Ever Made This Mistake with Your Marketing?

Friday, May 21st, 2010

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Why Discounting is Hazardous to Your Business

Monday, December 7th, 2009

PriceAs a business owner you’ve probably been asked to give a discount.  How did that make you feel?  Your response to that request is critical to the sustainability of your business as well as to your confidence.

Because after all you’re either worth the price you’re asking or you’re not.  No discussion.  This may sound harsh but if you don’t believe you are worth it, why do you expect your clients to believe it.

Reasons to stop discounting your pricing:

1. It’s no fun

2. It requires a time and energy you can use elsewhere

3. It creates a standard for other clients

4. You’re not getting paid what you’re worth

5. It can lower confidence in your business

Once you’ve made the decision not discount your prices, it will be much easier for you to simply say this in a friendly and relaxed way if you’re asked.  You’re mind is already made up so the answer flows naturally.

If a prospective client is not able, or willing, to pay your prices then they probably aren’t a good fit for your business.  Moving on from people who are not a match allows you to create space for clients who are willing and able to purchase from your business.

There will always be someone offering something similar to what your business offers for the absolute lowest price.  I hope you don’t aim to be that business.

The key is to focus on the value your services and products deliver, not what they cost.  People who truly understand the benefits they will receive when they buy from your business will accept the prices you have set because they understand the value they are going to get.

If negotiating is the norm in your business, there is still a way to be true to the value your business delivers without discounting.  First, get clear about the total value of the offering.  Then if you choose to, you can reduce the amount you deliver, along with the price, which means you are not discounting.

Another way to avoid discounting when negotiating is to stick to your original price and add a one-time, additional bonus for new clients.

While you’re thinking about eliminating discounting, please consider increasing your prices.  Seriously, when is the last time you raised your prices?  And when you did, what was the percentage of increase?  If it’s been awhile since you raised your prices, it’s probably time.

It’s natural that your expertise expands and deepens over time so why shouldn’t your pricing reflect that.  Whether or not you decide to increase your pricing, at least be willing to stand firm on your current pricing and don’t discount.

Think about it, you’ll save time and energy if you stick to your pricing.  And even better, you will feel confident about the value you deliver to your clients (oh yah, and be more profitable).    

So make the decision today that discounting your prices is not part of your business philosophy. Focus on the value your business creates for your clients and watch your business grow.

© Stephanie Ward, 2009

WANT TO USE THIS ARTICLE IN YOUR NEWSLETTER OR WEB SITE? You can, as long as you include this information with it: Stephanie Ward is the Marketing Coach for Entrepreneurs who want to set their profits on fire!  Grab your FREE copy of the special report ’7 Steps to Attract More Clients in Less Time’ plus business building tips, at: http://www.fireflycoaching.com.

One Simple Way to Make Marketing Easier

Friday, December 4th, 2009

unorganizedDisorganization costs your business money.  Not only that, it’s just plain stressful.

You know the feeling, you want to find a certain document or an article you need for a project but you can’t find it.  Or, things may be in such a state that you’re discouraged from even trying to look for something because you know you won’t find it.

Now think about how you will feel when you want to find something and you can access it within seconds.  That feels great and even better it keeps you in action which creates momentum.  When you have momentum, you get better results.

As a business owner your work environment is intertwined with your effectiveness.  It is critical to be able to find things quickly and easily and make use of what you have (but may have forgotten about). 

When you’re organized, your business goals are clearer and easier to implement – including your marketing plan.  The clarity you feel from being organized gives you peace of mind and the confidence to take action.

So when it’s time to do a particular marketing activity you’ll know exactly where you can find the information you need to make it happen.

I can imagine you’re thinking you don’t have time to get organized.  But can you really afford not to?  Think of it this way, what if you took all of the time that is wasted every week looking for e-mails, files, and notes and used it to actually get organized. 

You can’t do it all at once so just pick one area and get started.  Once you get organized, staying organized requires minimal effort.  And, you’ll have more time to spend on other things, including yourself.

Areas that can be organized:

- Client database

- Computer files

- E-mail folders

- Paper files

- Bookshelves and drawers

As you tackle the structural organization, there’s another aspect of your work environment to consider.  Think about creating a work space that is visually appealing and inspiring.

Add colors you love and include living things like plants and flowers.  Lighting can also transform the vibe of a space.  It’s often the little things that can make a big difference.  And it doesn’t have to cost a fortune.

Yes, it will take some time and effort to get organized and it’s worth it.  To avoid overwhelm, start small and tackle one area at a time.  You can even give yourself rewards as you go to keep yourself motivated.

In addition to making marketing easier, being organized eliminates mountains of frustration in all aspects of running your business.  Make the decision to create order and harmony in your business and experience the joy of doing your marketing more efficiently.

If you’re ready to take action and would like some practical tips on how to get organized, I have several f’ree resources for you:

- A 42 minute audio recording of an interview I did with professional organizer Elizabeth Hagen.

- A one page .pdf file that outlines Elizabeth’s FAT System which is fabulous (and it’s not about being overweight).

- 31 Tips to Simplify Your Life written by Elizabeth.

Enjoy!

© 2008 Stephanie Ward

WANT TO USE THIS ARTICLE IN YOUR NEWSLETTER OR WEB SITE? You can, as long as you include this information with it: Stephanie Ward is the Marketing Coach for Entrepreneurs who want to set their profits on fire!  Grab your FREE copy of the special report ’7 Steps to Attract More Clients in Less Time’ plus business building tips, at: http://www.fireflycoaching.com.

Why Assumptions are Bad for Business

Monday, November 30th, 2009

suspiciousWe make assumptions when we don’t fully understand a situation.  It is a natural reaction to immediately fill in any missing information by making up our own story.  We do this because we like to try to make sense of people and situations.

The problem with this is that most of the time our story is incorrect which causes all kinds of complications.  The fact is, we don’t know what the truth is unless we ask.

As much as we would like to think we know what others are thinking, we simply can’t read minds.  Sometimes we think we have the super power to know the reasons why people do the things they do (without asking them) which is pretty presumptuous.

Remember, not everyone sees the world the same way you do (shocker, I know, but it is easy to forget).

Need another reason to stop making assumptions?  Try turning it around, do you believe that other people can read your mind?

Would you rather that someone makes up a story (an assumption) about what you are thinking and feeling?  Or, would you prefer if they ask you? 

When you ask instead of assume, you may not always get an answer you like or expect.  Still, asking is much better than making up your own story because then you are in the position to make an informed next step.

Asking questions seems like an easy thing to do so why don’t we do it more often?  Why do we sometimes become paralyzed when it comes time to:

- Contact a client to find out why they haven’t responded to a phone call or e-mail

- Ask a partner if they are satisfied with the way you work together

- Ask a colleague if they still plan to make that introduction for you that they promised

It goes something like this.  Let’s say you see a prospective client at a networking event, he sees you too but when you try to approach him for a chat he leaves abruptly.  That is all that happened, you don’t know why he had to leave and yet your mind starts making up a story, an assumption.

You might think he doesn’t like you or that he isn’t interested in your business.  That may or may not be true but why bother thinking negative thoughts when you don’t really know the reason he left.

If you want to know the reason, ask!  You may find out that he just went outside to put money in a parking meter, that he had a family emergency, or something else which was not related to you at all.   

So how do you do it?  When asking questions, do so in a non-judgmental way with the intention to discover the truth.  Stick to the facts and use a neutral tone when asking questions verbally.

If you’re still not convinced, here are seven reasons why you, and your business, may be suffering because of assumptions.  Making assumptions is bad for business because doing so can:

1. Cause unnecessary stress

2. Waste time and energy

 3. Create misunderstandings

4. Cause you to miss out on great opportunities

5. Lower your confidence and create self-doubt

6. Lead you to offer the wrong product/service

7. Create obstacles that don’t exist

Hopefully it is clear why assumptions are not good for your business and you are willing to stop making them.  Making assumptions isn’t good for any relationship which means you can apply this to your personal life as well.  After all, you do have a life outside of your business right?

My challenge to you is to start paying attention to your thoughts and become aware of when you are making assumptions and then get into action and ask the right questions.

Asking questions is simple, and not always easy.  Find the courage to do what may feel difficult and just ask.  Ending assumptions is like any skill, it takes practice.  The more you do it the easier it will become.

(c) Stephanie Ward

WANT TO USE THIS ARTICLE IN YOUR NEWSLETTER OR WEB SITE? You can, as long as you include this information with it: Stephanie Ward is the Marketing Coach for Entrepreneurs who want to set their profits on fire!  Grab your FREE copy of the special report ’7 Steps to Attract More Clients in Less Time’ plus business building tips, at: http://www.fireflycoaching.com.

They’re Interested, Now What?

Monday, November 30th, 2009

business people walking on different pathsSome people may be ready to buy your products/services right away.  But what do you offer to the rest of the people who are interested but want to know more?

Creating a structured sales process for your business may not seem like an important component of creating and attracting more potential clients and I can promise you, it is.

Here’s what frequently happens.  People may be interested in knowing more about what your business has to offer but they are busy.  They don’t have time to find your phone number and call you or spend time navigating through your website trying to figure it out how to find out more, so they do nothing.

When you are clear about your sales process, and can communicate it easily and consistently, you will feel more confident and you will be able to make a connection with your prospective clients. 

People need to know what action to take if they want to know more.  Make it simple and make it easy.  People appreciate structure and like to know what they can expect. 

Begin to define your sales process by deciding on the first step.  The one action you want every person who is interested in your business to take.  Make it something that delivers value.  Here are some ideas about what you can give to prospective clients:

1. Offer a free sample of your products/services

2. Offer to meet with them for a free consultation

3. Invite them to take an assessment or quiz

4. Invite them to sign up for your newsletter

5. Offer to send them a valuable free report

Let me give you an example of what I am talking about.  Let’s say you are at a networking event talking with Renee and she asks you, “What do you do?” You have prepared and rehearsed your fabulous elevator pitch (right?) so you share it.

Renee seems intrigued, what do you do next?  You can leave it there, finish your chat and move on.  Or, you can say to Renee, “If you’re interested in knowing more, I can send you a special report.  Would you like that?”  See the difference?

Communicating the first stop of your sales process isn’t only important for prospective clients.  It is also valuable to communicate it with strategic alliance partners so they can easily refer people to you.  Make is easy for partners send you referrals by making the first step in your sales process clear to them.    

Once you are clear on your first step, the one action you want prospective clients to take, incorporate it into every interaction you have and all of your marketing strategies.  Think of things like this:

What you write:

- Text you will use to answer e-mails from prospective clients

- Text on your website

- Text on your business card (use the back of your card)

- Text in your e-mail signature

What you say:

- Words you will use when someone calls

- Words you will use when you meet someone face-to-face

- Words on your voice mail message

Once you have the first step established, decide what the next steps are until you have a complete process.  The number of steps in your process will depend on your business and what you are offering.

The most important step is the first one so start there.  Utilize your sales process and be sure you follow through and follow up. 

You’ve heard the expression ‘you never get a second chance to make a first impression.’  In business, you may not get a second chance to give a prospective client value.  So choose your first step and start giving!    

© Stephanie Ward 2006

WANT TO USE THIS ARTICLE IN YOUR NEWSLETTER OR WEB SITE? You can, as long as you include this information with it: Stephanie Ward is the Marketing Coach for Entrepreneurs who want to set their profits on fire!  Grab your FREE copy of the special report ’7 Steps to Attract More Clients in Less Time’ plus business building tips, at: http://www.fireflycoaching.com.