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Large companies spend a considerable amount of time and resources developing their strategic positioning and the corresponding “positioning statement.” The process includes competitive analysis, long-term vision development, audience segmentation…and so on.

For most small companies, a simple positioning statement is a good starting point, and sometimes it is all that is needed to stay on track and keep your marketing moving in the right direction. The positioning statement is a concise sentence (or two sentences, at most) describing what your company/product does and what distinguishes you from your competition.

Here is the formula for a simple positioning statement (this is a fill in the blank exercise):

Company/Product: _________
Provides/Offers/Delivers: (explain what the company/product is or does)
To: (target customer)
Uniquely: (competitive differentiation/customer benefit)

I performed this exercise for rootbeermarketing.com in about 10 minutes. Below are the steps I used to get to the simple positioning statement. This is an iterative process…in 10 minutes, you should be able to get to a usable statement. But, after using it awhile, reflect on if it is on-target. If not, spend a little more time with it. Also, run it by a few of your customers; see if it resonates with them. You also want to evaluate your positioning statement on a regular basis, especially as your company adds new products and/or expands in to new markets or customers segments.

Step 1: Quickly fill in the blanks…don’t spend too much time thinking about it. I will use my rootbeermarketing.com exercise as the example.

Company Product: Rootbeermarketing.com
Provides/Offers/Delivers: big company marketing ideas
To: small businesses
Uniquely: In a way that is easy and quick to use

Step 2: Use it in your 30 second introduction.  A 30 second introduction is how you quickly explain verbally what your company/product does. It’s also how you introduce yourself at networking functions or answer the infamous “what do you do?” question.

“Hi. I’m Susan Tormollen. I host rootbeermarketing.com, providing small businesses with easy-to-use and quick-to-execute marketing actions based on big company marketing concepts.

Step 3: Evaluate if this is the best way to present your company/product. Does it clearly and concisely explain the company, name the target customer, and communicate your unique attribute as a benefit to your customer? In the rootbeermarketing example, I pondered…

Is rootbeermarketing.com a company, a blog, a website, a resource?
Do I offer “smart” marketing concepts (like my blog states)? Is that what the customer wants? Is it really unique?
Am I providing marketing insights to small businesses or to small business owners? What type of small business owners?
Are the “10 minute actions” the “product” I am providing, or the unique differentiator?

Step 4: Tighten the positioning statement.
Here, I try it again, and admittedly, this takes a couple attempts before I get to the version I feel is most accurate.

Company/Product: rootbeermarketing.com, a blog
Provides: actionable marketing ideas based on big company marketing concepts
To: busy, small business owners
Uniquely: in easy-to-use and quick-to-execute “10 minute actions”

“Hi. I’m Susan Tormollen. I host rootbeermarketing.com, a blog providing busy, small business owners with actionable, easy-to-use and quick-to-execute “10 minute marketing actions” based on big company marketing concepts.

Step 5: Practice your 30 second introduction. Make sure  it rolls off your tongue every time you introduce your company and what you do. Feel free to add a benefit-oriented sentence, or elaborate a little more to in order to provide a  personalized message.

“Hi. I’m Susan Tormollen. I host rootbeermarketing.com, a blog providing busy, small business owners with easy-to-use and quick-to-execute “10 minutes marketing actions” based on big company marketing concepts. The 10 minute actions help busy business owners, like yourself, do smart marketing quickly.

Step 6: Run in by your customers, get feedback. So, for the rootbeermarketing.com example…let me know what you think.

10 minute action x 2:

    First 10 minutes: Fill in the simple positioning statement. (Steps 1-4)
    Second 10 minutes: Practice your 30 second introduction (Step 5).
    Lastly, run it by a few customers. Sidenote…as I worked on this exercise, I realized I have been inconsistent in how I refer to the blog/company. I’ll need to decide (quickly) on a consistent name and capital letter structure. Do I refer to this “business” as rootbeermarketing.com, rootbeermarketing.com blog, or Root Beer Marketing? I’ll keep you posted, as this actually opens up a small can of worms, and a lot of thinking…
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The first step for promoting your small business blog and website is self-promotion/cross-promotion. These steps are simple and quick, and it’s a great way to keep you top-of-mind for all the people who already know you and your business.

1)      Put your URLs on all your social media pages.

  • If you have a Facebook page, list your URLs and do an entry talking about your newest post, web update, or even a quick “If you know someone who needs X, make sure to send them to my website http://www.yourcompanyhere.com
  • If you use LinkedIn, add it to your profile under the blog and websites section, and talk about it in your “post an update” area.

2)      If you have a blog independent of your website, link to it from your website, and vice versa.

3)      Include your website and blog URL on your business cards, brochures and promotional materials (and while we are at it, consider putting your BUSINESS phone number on all your online promotional spaces—of course, be careful about including home, personal or combination phone numbers online).

Here’s a little case study: I did #1 above and put my blog on both my Facebook page and my LinkedIn page. Within 24 hours, over 10% of my Facebook and LinkedIn contacts had clicked on my blog.

Simple and efficient–that’s smart marketing!

10 minute action:

  • Do the first 2 actions listed above. It will take 10-20 minutes depending on how familiar you are with content updates on your social media sites and website.
  • Next time you reprint your printed marketing materials, add your website and blog URLs
  • Let me know what type of spike you see in clicks following your self-promotion/cross-promotion.

 

 

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Yes, I did. 

In a recent ClickZ article by Sage Lewis, Sage shares the message he heard David Meerman Scott deliver during the Incisive Media’s SES NY keynote address. Read the article if you get a chance, it has a great example that brings this message to life. 

And the message is: customers don’t care about your product; they care about what other customers think of your product. Think about your own recent purchases. Did you check an online review, read customer comments or ask a trusted friend or colleague for a recommendation? In the past couple weeks (beyond the basics of groceries and gas) about 80% of my professional and personal purchases have been influenced by some type of online review or personal reference. When you consider the amount of information available at our fingertips, it makes sense that we are regularly incorporating other people’s opinions in to the decision making process. 

An interesting example of this happened to me last week. I was investigating companies who offer pet health insurance. In Google, I searched for reviews on each company and this was the first thing that came up: 

This is the second time I have reviewed this company. I am excited to say that I have been pleased with some of the changes they have implemented. Initially I gave them a low score of 2. This was heavily influenced by claims processing time exceeding what was listed on their site. I also thought that I would not be doing business with them even a year later. So, what’s changed my mind? These things …If they continue on like this, I have every confidence I will be a happy customer for the life of my pets”

Wow. From this one review, I now have an impression of the company–a company that listens to their customers and makes improvements accordingly. This is a lot more powerful that if I had gone on the company’s website and read “We listen to our customers.”

There are steps you can take to ensure your customers’ find validation for choosing you and your products/services. 

1) Identify happy customers and ask them to be a published and/or personal reference for your company and your products. Get a quote/customer case study you can publish on your website and use in other marketing assets, like brochures and public relations. Consider obtaining approval for prospects to contact this happy customer for recommendations (usually you only do this if you have a higher priced offering like a client/agency relationship, business software solution, plastic surgery, etc). And of course, never publish someone’s recommendation or contact information without their permission.
2) Build an area on your website for conversation/reviews. It will help close business. I just purchased a dog house kit online (yes, we have an animal thing going on in my household this month). The “official” product description said it required 20 minutes to assemble, but in the “review this product” section, reviewers said it “took 45 minutes to assemble and the product quality was great.” I purchased the product because I felt I had an honest evaluation of the product–what the company said PLUS what actual customers had to say.
3) Develop a process for listening to your customers on a regular basis. You want to know what customers are saying about your company, both on your website and on the internet. In the online social media course I have been taking, John Jansch refers to this as a “listening station.” This will be the topic of my next blog post.
4) Most importantly, respond to feedback, both good and bad. A customer says something good about you, thank them. A customer has constructive feedback, or is just plain upset, listen and correct as much as possible. And, if a customer has a new need or challenge, seek to understand it and see if you can help—it just might be your next product extension, or up-sell opportunity. 

10 minute action:

1. Identify the current ways you are listening to your customers
2. Identify a new way to listen to your customers, then do it (or email me if you need suggestions on how to do it)
3. Call a happy customer, see how they are doing, ask for a recommendation/quote/story

 

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The 80/20 Rule stems from a principle called the Pareto Principle which states that for many events 80% of the effects come from 20% of the causes.

(If you want to learn more about the Pareto Principle there is a lot of information on the internet, but for now I am using it simply as a context for talking about customers.)

 

Many businesses claim that 80% of their sales come from 20% of their customers. The percentage is not as important as identifying if there is a segment of customers responsible for the majority of your business. Perhaps in your case it’s 60/40 or 90/10. Regardless of the exact percentage split, it’s an interesting way to think about your business and your top customers. Knowing these top customers can provide a baseline and important data for doing smart marketing.

 

Things you can do with your top customers to help you grow your business (beyond selling to them):

  • Communicate with them more frequently, or in a different way, in order to strengthen your relationship–the “connection” we talked about in the previous blog
  • Gain valuable feedback on your current products/services
  • Determine if there are some common characteristics or attributes of these customers that are different than your other customers
  • Investigate why they buy from you and if those reasons are extensible to a new set of customers or prospects
  • Develop new products or services based on their needs (or course make sure to do your research on the actual market opportunity for new offerings)
  • Use top customers as marketing references, success stories or case studies
  • Ask your top customers for referrals 

 

Does the 80/20 Rule apply to your business? Do you direct unique marketing or research activities towards these customers?  Please share your thoughts and learnings.

 

10 Minute Action:

  1. Build a physical list of your top customers, eventually this list should include complete contact information and purchase history
  2. Determine ways you will use this list to grow your business

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To do marketing well, we need a definition of what marketing is. After a fairly exhaustive search, I found one definition that I particularly like. It’s short and to the point, unlike many of the 50+ word definitions I found.

This definition was posted on a blog by Jeremiah Owyang. You can check out the entire stream at http://www.web-strategist.com/blog/2008/03/01/my-definition-of-marketing/

Marketing is the act of connecting customers to products and services.

11 words….definitely concise, but I’d like to be able to say our definition is less than 10 words, and easier to remember:

Marketing = connecting customers to products and services.

Short and simple…and it gives us a lot to think about.

Connecting. A connection is “to become joined” or “to have or establish a rapport.”
How and where do you do that? When do you do that?

Customers. Who is your customer? Where do they live? What problem do they have? What do they need? How do they feel? How much are they willing to spend?

Products and services. What product or service do you sell? Is it unique, special, better, cheaper? Can you describe your product or service and what makes it unique in a few concise words?

Over the next few blogs we’ll dig a little deeper into these areas. In the meantime…here is an action you can take today.

10 Minute Action:

1) List 3 ways you connect with current and prospective customers.
2) Which of these do you enjoy doing the most?
3) Plan an action you can take in the next month using this preferred method. (ex: attend a networking event, call a handful of customers, invite a customer to lunch, send out a newsletter, etc).

And, to make it really smart marketing, set a measurable objective and see if you meet it.

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