Reversing a 30 Year Trend

One marketing expert , whom I highly respect, looks at the current economic climate as a huge opportunity. I have to tell you, I can see the logic in his argument. Let me share.

Do you remember the category killer days when the big box guys trampled on the small guy?

Today those same retailers are filing for bankruptcy and are going out of business creating an opportunity for smaller retailers and service providers to gain back the market share they lost.

My friend and marketing expert gives the example of a local bank.

Everyone knows the state of the banking industry right now.

Here's what a local bank should be advertising right now.

You remember the good ole days of banking? When banks loaned money to homeowners and businesses ... those days never left at Local Banking and Trust. Local Banking and Trust never stopped lending money and still has money to lend ... etc.

There are plenty of opportunities in many different business categories.

Do you want a piece of the pie?

Give me a call 404-995-7343.

Fundamentals of Surviving a Recession

"You need to be conservative with spending, and aggressive as hell with marketing," Rich Sloan, operator of Startupnation.com says. "You need to be resourceful, and spend only where you see performance. [This] will make you a better business person. When things turn around in three years, your business will be built on solid fundamentals."

In a CNN Money article, Rich Sloan gives some very good advice on starting a business in the midst of a recession. The advice he gives also holds true for those of you already in business trying to weather the economic storm. Let's break his quote apart.

• "You need to be conservative with spending ..." Now is the time to take a hard look at what is absolutely essential for your business survival. Do away with advertising that's not working. Concentration of force is the name of the game. (more on this in a future installment)
• "... [be] agressive as hell with marketing ..." One business coach says you need only two things in business to be successful, new business and repeat business. You get new business by advertising. You get repeat business by advertising consistently.
• "... [be] resourceful and spend only where you see performance .." Right now, in marketing and advertising, you can't afford to make a mistake. Look for a a proven results vehicle. Ask those selling advertising for references and phone numbers. They should be readily able to supply this information. If not, consider spending those marketing $$'s elsewhere.

This is good advice for both the startup and the seasoned business.

Call me and we can talk about how we can take these principles and utilize them to their fullest extent with a results-generating campaign. 404-995-7343.

Radio Reaches 234 Million

The latest RADAR report from Arbitron reveals the medium reaches more than 234 million persons (12+) during a typical week. That 92% exposure rate is steady despite growth of MP3 players. The report shows 89% of teens (12-17) also tune-in each week.

Radio Want Ads Connect You to Potential Employees

Have you ever considered advertising job openings at your company on the radio?

In a recent CNN online article, an employer got 15 qualified applicants when they publicized their job offering on radio versus newspaper which "didn't spark any leads."

Not only do you reach potential job applicants with radio but you reach their influencers as well. In the article, the man who had lost his job didn't know where to turn, but "luckily for him, some of his relatives did ... Barger's mom and dad were listening to the radio station ..."

Recruitment advertising works on radio because:

• Radio allows you to reach the employed sector and behind your competitor's walls
• Radio has 50% of the respondents coming through the networking effect
• Radio allows you to recruit 24 hours a day
• Radio produces quick and consistent results

The radio show host cited in the article says it best, "I'm in people's homes. I'm in people's cars ... they're trusting me. I have the ability to tap into what's available right now."

If you've got positions to fill, then, give me a call and we can talk about a cost-effective way to recruit using radio.

404-995-7343

FedEx Office: Kill'em With Kindness

My friend and advertising colleague Phil Berstein (Portland, Oregon) writes a nice piece about FedEx Office generating some very positive word of mouth here. Basically, for one day only FedEx Office is offering FREE resume printing services to anyone who wants it.

This has generated tons of FREE publicity. While no advertising $$ were spent, this case study shows once again that advertising is about finding a salient message and a worthwhile offer, marrying them together and generating results.

If you need help defining your salient message, I've got 14 years of experience in helping craft advertising campaigns that produce results.

Give me a call 404-995-7343.

A Sign of the Times or Self Fulfilling Prophecy

Just outside Atlanta is this marble & countertop company. I'm not sure if they are trying to be funny or they are actually serious with their sign.

To me this speaks of desperation. I perceive this company is struggling to stay afloat. Even it that is true, I'm not so sure that this marketing strategy is accomplishing its goal of building new business.

This marketing message gives the consumer no real reason why they should do business with this company. This speaks to the company's problems not the consumers.

I've found over the last 14 years of developing results-producing campaigns that campaigns that focus on the business problems generally fail, but those that focus on solving a consumer's problem excel.

I've got some ideas on what the sign should say but I'd like to hear yours also.

Feel free to offer suggestions in the comments below.

If you need help developing a consumer focused message for your business, call me 404-995-7343. There's no obligation to get a 3rd party opinion of your current strategy. My promise to you is that I won't ask for your business unless I can help your business.

Handling Price Objections

Our advertising solutions produce results in terms of phone rings, website visits, and in store traffic but how you handle the new customers determines if you get the new business.

Many times a customer will balk at your price ... saying, "Your price is too high."

You can attempt to justify your asking price of your product but many times that ends up in a lost customer.

Try REVERSING THE PRICE OBJECTION instead.

For example, you sell a product whose asking price is $5,000. The customers cries, "Your price is too high."

You reply, "When you say our price is too high, that means ...?"

This will illicit information which is essential for you advancing your sale.

You may find out that your customer has priced a similiar product from one of your competitors and has a quote for $4,500.

Now instead of justifying a $5,000 sale, you are convincing your customer why your product is worth an additional $500.

The late sales trainer David Sandler popularized this strategy.

Try it the next time someone says, "Your price is too high."

Helping you tell your story and close more business.

Do you have any price objection strategies that have worked for your business? Leave a comment and share.