Strategy isn’t a dirty word

I go to a variety of networking events and that word ‘strategy’ comes up regularly.  I used to think that this indicated that most small business owners had a strategy for their business and a plan to put it into practice.  

Consequently, when I ask more in depth questions I am always surprised to find that many of them don’t have the answers.

I’m not a business consultant, but I’ve been around the block a few times, worked in corporate land, been a business owner myself for approaching 30 years and been a management trainer (in another lifetime!)  I’ve learned a lot and I know that a business plan or strategy document that is filed away somewhere isn’t a useful document.

There are some basic things that, once you get them in place, can transform your business growth.

The hard questions

These are the deceptively tough questions – but if you persevere and create comprehensive answers you’ll equip yourself with extremely valuable information that will help you to focus your business.

1. What does an ideal customer look like?  What are their characteristics – personally and from a business perspective?
2. What kind of challenges keep them awake at night?  Why are these a problem for them?
3. What solutions could you offer to fix their problems?  How would they work and what would the outcomes do for their business?

The answers to those questions alone will give you a great start.  Now you know what your clients really want and need and that will allow you to present your products or services in a highly focused way.

If you want to get more customers you now know exactly what you’re looking for and can start researching where this kind of person hangs out.  That means that when you promote your products or services you’ll be talking to the right people, not just throwing a lot of stuff at a wall and hoping some of it sticks.

And then you’ll need a plan

A strategy alone is not enough, but transforming the strategy into a plan will create a process that can be applied by you and your team.  Processes that can be systematised are really useful, that means everyone knows what to do and when to do it and there’s less room for ‘forgetfulness’. 

Consistent action is the secret to success.

Measure your results

What are your targets?  What do you want to achieve?

These can be sales per month, new customers per month, enquiries, website visits from your social media posts – or something else.

Don’t get diverted by ‘likes’ and ‘comments’, what you need to know is where your sales conversations come from.  Include the question ‘how did you find us?’ in all your conversations with potential new customers – and record it.  Then you can do more of whatever generates the best results.

Lights, Camera, Action!

You may not have dreamed of being a film star, but if you’re running a business you would benefit from creating video material to raise your profile.  

If you hate having your photo taken, you’re probably not enthusiastic about appearing on camera, but the good news is that you can create good content without actually having to appear on screen.  However, if you can get comfortable talking to the camera, there’s nothing like a real person appearing on screen, it all adds to the authenticity.

There are alternatives and there are a number of ways to create video – with various costs associated with them.  

1: DIY

Most mobile phones today have good quality video recorders so you could be your own director – but you’ll certainly need video editing software to produce a professional result and that takes time.  

If you have an Apple computer you’ll have built in video editing software, but if you’re on an android device you’ll need to download a video editing app.  There are some free apps, but you’ll also need to learn how to use them.

An alternative is to find someone who does video editing maybe on Fiverr or a similar site.  To get the result you want you’ll need to give them a very specific brief.

2: Slides to video

If you have PowerPoint you can create a slide show and there is a facility to record these as a video and narrate them too.  The ‘Record’ button is usually top right.

The advantage to this is that you can have your brand featured throughout and a professional title page and end screen.

The downside is that the images are static only moving when you go to the next slide.

3: Video creation app

There are any number of these.  I use Invideo, but there are many others.  They allow you to create a combination of stills that move slowly and video clips with text.  You can choose to add a voice over or a music accompaniment.

With still images they use something called the Burns effect to give the impression of a moving image.  It just adds a little bit of ‘sizzle’ to the finished product.

4: Get a professional

You can find people who will make professional videos locally or online, but there is always a higher cost to having bespoke videos created.  If you’re looking for video to feature on your website, it’s probably worth the cost.  If you just want disposable videos for social media, the cost may not be cost-effective.

Some professional social media consultants offer video creation as part of their package.

How does email marketing really work?

People often steer away from email marketing because they think it’s ‘spammy’.  But that’s missing a huge opportunity.

Of course, nobody wants to receive spam and you certainly don’t want to be the sender of anything that would be categorised as spam.  But you do want to promote your products or services, so how can you tick both these, apparently contradictory, boxes?

There are several factors that come into play:

1. The right list
2. Know your audience
3. Deliver value
4. Get the message right

The power of the list

You’ve probably heard people say ‘the money is in the list’.  That can be true, but it depends on the list.  Who have you got in your list?  Are they everyone you’ve met networking or a random selection of contacts collected over many years?

A powerful list is made up of people who have actually demonstrated an interest in what you offer.  

The easiest way to get these people to self-identify is to offer a free download that is highly targeted at the needs of the people who fulfil your ideal customer profile.  People who are willing to provide their name and email to get this download are saying ‘I want this kind of information’.

If you don’t really know who the people are in your list some of them are likely to view what you send them as spam, if they don’t want what you’re offering.

However, those who do will value what you send out if you get your messages right.

Big companies who do this well are B&Q and HomeServe, who both send out marketing emails promoting their products and services, but attach links to useful articles featuring ‘how to …’ advice with captivating titles. 

Less is more

Or, to be grammatically correct, ‘fewer’.  A few accurately targeted contacts are worth far more than hundreds of random contacts.

If you think about the best client you’ve ever had and what was important to them, ideally you need people who are a close match to their profile.  That way you’ll be preaching to the converted – they’re the ones who want what you’re offering and value your expertise.  That means they’ll usually be happy to hear from you. 

Lead with value

In today’s fast-consuming world people are looking for value.  If you can deliver value that is a massive step towards long term engagement.  This only works if you know what people want (read the last section again!)

Assuming you know your audience and what kind of information they will find valuable, this step should be simple.  It’s not about selling – it’s about giving.  When you consistently give great value you’re opening the door for future sales.

This might be in the form of useful advice, tips or processes – share your expertise and your readers will realise how good you are at what you do.  Guess where they’ll look when they need your kind of help?

Get your message right

The best email marketing doesn’t ‘feel’ like a sales pitch.  The really good ones make the reader feel like they know you, that you’re talking directly to them and the message isn’t just useful, it’s entertaining too.

Nick Stephenson (YourFirst10KReaders.com) is very good at this.  He shares his family trials and tribulations in a humorous and self-deprecating way that leads into something he’s offering completely free of charge.  The free courses he runs are exceptional value, and he offers upgraded versions that you can pay for with even more great value. 

You may need to be creative to come up with your version of this approach.  Whether you write your own emails or get a professional copywriter to do them for you, they need to sound like you’re talking directly to the recipient.

When you’ve got all these features organised you can write amazing email marketing campaigns that deliver profitable results.

Do lead funnels work?

If you haven’t heard of a lead magnet, let’s start with the simple description: it’s an item of value to your target audience, that you offer free of charge in exchange for their name and email info.

It’s a way to build your marketing list using reciprocity as the currency.

However, as I’ve pointed out in previous blogs, lead magnets don’t work in isolation - or at least not very well.  You need a lead funnel underpinning it to build relationships, deliver more value, become a welcome item in the recipients’ inboxes and educate them on your value.  Eventually, to encourage them to become a paying customer.

In case you haven’t noticed, things change, particularly digitally.  What worked a few years ago is less effective now.  For instance:

• In 2006 LinkedIn didn’t have groups or the option to share content
• In 2010 good tips got lots of followers on Twitter – not any longer
• In 2014 a Facebook Page was a very effective tool in gathering fans and getting new business, particularly if you’re selling B2C – now nobody sees it unless you pay for advertising and fewer people are looking at Facebook today – they’re all on Instagram and TikTok

I could go on – but you get the drift.  The way we use our digital platforms has changed.  In 2012 text only content worked, then Instagram and Pinterest gained ground and people expected images.  Today, videos are the primary attention grabber.

The holy grail is engagement – which is harder and harder to get.  So what does this all have to do with lead funnels?

You need a community

The traditional lead funnel starts with a lead magnet, then moves the ‘freebie’ people through a process offering a low cost item, then a one-to-many membership, subscription or course, with just a few becoming 1-2-1 customers.

The model is changing as your audience is more interested in being part of a dedicated community than part of a process.  Business has changed too as people work differently.  

Lead funnels build communities by giving away more free information, but providing it only to those who join the community.  This might be a private group on a social media platform or a dedicated website where members log in.

The theory works by delivering massive value until the member realises that there’s even more value if they are willing to pay for it.  By then they are committed members of your tribe and not only know that you know your stuff, but like your style and want to be involved.

So the lead funnel now looks very different with not only a free lead magnet, but also:

• Free webinars
• Free ‘how to’ material on YouTube or in a private group
• Free updates on your specialist subject
• Free monthly learning events

And more.

If you’re thinking ‘this all costs money and how will I get paid for it?’ the answer is that what people do pay for will be of huge value to them – and they’ll be willing to pay more for it.  Also you’ll be building a network of raving fans who will virtually do your marketing for you. 

It’s a leap of faith, but like everything else, if you’re not staying ahead of the competition, you’ll be left in the dust!