Digital Marketing Update; Marketing Your Business, As In Boxing–Can Your Business Go The Distance To Defeat The Competition? Podcast #29

When it comes to marketing your business, as in boxing–can it go the distance to defeat the competition? (on the aftermath of Mayweather vs. McGregor bout)

Today’s podcast discusses 3 questions you need to answer in planning for your victory:

  1. Do you have a game strategy to defeat or upend your competitors, or are you winging it month to month?  (Mayweather’s–use defensive tactics with jabs to wear out opponent then attack in later rounds)
  2. If price isn’t a valid differentiator–what will you do differently to stand out from the competition?
  3. Are you relentless in promoting your business with your value proposition?

on-demand-advertising-solutions-newsletter-card-image1It underscores the need to provide regular updated content, monitoring and engagement.

It’s all a part of our three-part strategy to drive SEO and web traffic and make your business exceed the profile and exposure of your competitors.

You may learn more about us and schedule a free appointment.

You may listen to all of our exclusive audio podcasts here.

Now, enjoy the video podcast!

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Marketing Your Company; As In Boxing–Can Your Business Go The Distance To Defeat The Competition? Podcast #29

Host: John D. Verlin

Transcript:

Once again, good afternoon, John Verlin with On Demand Advertising Solutions and another Digital Marketing Update. This is podcast #29.

This is the day after the Mayweather-McGregor fight. I had several anologies come to mind that I was pondering thinking about the fight, the hype and everthing afterwards.

And that is this—and I’m entitling this, As In Boxing, Can Your Business Go The Distance? 3 Questions You Need To Identify To Defeat Your Competition. You need to answer.

And that is this—number one, do you have a strategy? A plan of attack? Mayweather’s was to be very defensive, wore out the opponent which is what happened and did happen in all of his fights.

But, do you have a strategy?

Have you actually sat down—and I say this because a lot of small businesses, when they go to get a loan have somewhat of a strategy.

The banks typically demand a pretty thorough market analysis, competitive analysis…things like that.

A lot of times that can get pushed aside in day to day situations. Do you have a strategy? Are you working it? Implementing it?

Another question is—ok, so what if price doesn’t really matter?

What are you going to do? If you’re competing say on price with your competition, what if the market says that price isn’t that much of a factor?

And the third one—and I’m going to give you some examples of these, how relentless are you in promoting yourself against your competition?

Or do you just give up? Or do you just assume the good times will continue to roll?

Ok, first one, do you have a strategy?

And as I’ve mentioned in other podcasts, a lot of small businesses I talk to and professionals, really don’t have—and I guess it comes down to is measuring the market. What the market is demanding?

Recently, there was a great post by Elon Musk’s ex-wife. She talked about what it takes to succeed (and be a billionaire). She really gave a great answer I think.

She said to find two areas that you’re really passionate about and good at. She mentioned business and engineering of her ex-husband I imagine.

And then in those categories you’re interested in—your expertise is in, find a missing area that people are in demand for. That they want passionately.

And then merge those two categories together to create new industries. And I guess that’s what Elon Musk has done.

Who would have thought or even planned on a new business and develop a new space suit to go to Mars?

Now that takes some vision in my opinion! How do you know there’s a market for that today in 2017? Or you just put some money behind a hobby because you have some interest—or you’re raising some.

So, do you have a strategy for your business? And put it in writing of course.

A lot of businesses, I saw recently an infographic that said that success is this vertical or this angular straight line upward. But it’s really a mish-mash of lines cris-crossed, etc.

And a strategy at least gives you a written plan of attack to to speak. Just like a boxer. They have to have a strategy as to how they’re going to go after this person’s weaknesses. How am I going to manipulate it? Work it, whatever.

Now, the second point I want to make here is that if price isn’t an issue, what are you going to do to be different?

A recent case in point—I bought a smartphone, a pre-paid smartphone because I was tired of paying for a lease that ran out. I just wanted to keep it simple.And I paid $100 for a new ZTE smartphone. One that I actually really like. Very functional just like my iphone.

But there was an LG, a little smaller for $50, half of what I paid for this new one. As I read the reviews which I saw on cnet and pcmag.com—I saw that it has an 8mg camera and 5mg front facing.

The one I have has a 13mg camera back facing and I think 5mg front facing. The review said that the camera shots were ok—but a little fuzzy. And the battery had some issues.

The one I have as a large one and the battery is great. So even though I contemplated spending half, $50 rather than $100—it doesn’t really matter if it’s not giving me what I want.

So, if you can’t really compete on price because you’re not giving the market what it really wants, the value, what good is it? So these things have to be thought out and thought through. Because price isn’t always an issue.

And a lot of businesses think, well, I’ll just offer a dollar off and get more business.

Not if you’re not meeting a need and offering value. Another thing to consider in trying to defeat your competition.

And finally, how relentless are you? Just like a boxer. Going in, weighing the situation. Having a strategy and going at it and not giving up.

They take a beating and get worn out and all that.

Again, it’s sort of a similar thing.They’re being scored on how many solid punches they’re getting. And their score can outscore the competition in the long run if they don’t knock them out, they can win by a better score.

It’s kind of that way with business. You may not defeat the competition, but you may get greater market share. Because of the strategy, how you’re implementing things. How relentless you are in going after business and promoting yourself to get that business.

So, it’s just interesting. And another thing I was watching over the weekend was a special on PBS about the Voayager mission.

And they had these rocket scientists say that once we send that Voyager spacecraft out to Jupitor, Saturn and Neptune—what happens if? Something does not work?

And they talked about these “what if” scenarios they were constantly contemplating.

What if this happens, what are we going to do? Well, they did face an issue—several actually.

And one of them was that in order to get out to Uranus—we have to go really close to Saturn.

But what if the radiation from Saturn burns out the electronics and wipes out the spacecraft, what do we do?

And these were what if scenarios before launch. Well they came up with a real simple fix and that was to buy a whole bunch of aluminum foil and wrap everything in aluminum foil.

And sure enough it worked and they didn’t fry out the systems. And they did go really close to Saturn.

But that’s just an example of running these “what ifs”.

What do I do if my competition does such and such? How am I going to…and the reason all of this is important is that and this just happened yesterday.

Whole Foods which is owned by Amazon is going to be cutting prices. Now you may say, well there’s only 500 of those stores, what difference does it make?

Well 38,000 grocers and Walmarts worry because of Amazon’s platform.

And they can not only put in their stores Amazon Prime lockers to pick up food or pick up items.

Couponing, whatever. But they have this huge internet platform to offer those products at a discount—organic food products on Amazon Pantry.

That’s what is worrying the 38,000 grocers because of Amazon’s huge web platform.

Again, that’s why this—having a strategy, being relentless and determining what to do differently to avoid a price issue to compete and defeat your competition.

I can tell you right now, I’ll bet you those grocers are real nervous because what do you do, your margins are already thin.

Amazon is moving in—what do we do? So, these are things to consider. Some questions to answer. A strategy. If price isn’t an issue, what are you going to do different? How relentless are you and I talk about being relentless in your marketing?

And I’ve mentioned this before but I’m amazed how many busineses don’t actually have a marketing plan.

They shoot from the hip. And the only reason I can think of that is because they already have business. They were an older business when they started. They’ve got a good referral network.

Whatever. But what happens when that changes?

And that can change drastically as we have seen with Amazon buying Whole Foods and who knows what they’ll do next?

Suddenly you have all of these grocers nationwide worrying. Did they contemplate that a year ago? Two years ago? Who would have thought?

So, these are some things to answer to compete and defeat your competition.

The relentlessness comes down to, and I’ve mentioned this over and over—targeting online prospects and customers using social media, email marketing. Test everything. And be relentless.

Why? Because your competition is out there like a lion ready to chew you up. And they will. So, be proactive. That’s the message I wanted to share and answer those three quesitons.

John Verlin, On Demand Advertising Solutions.

Great to have you along today. I have a new email: johnverlin12@att.net.

Or you can visit the website: www.OnDemandAdvertisingSolutions.com. to learn more about our solutions for your business!

Have a great week and we’ll talk to you next week!

All podcasts are recorded by Verlin Studios / Gardner, Kansas

Copyright, John D. Verlin 2017

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From the Blog, Digital Marketing Update; Marketing Your Business, Are You Aware When Your Customers Vent? What Can Kill Your Business, Podcast #28

When it comes to marketing your business–it’s bad if a customer vents against your business.

It’s worse if you’re not aware (and don’t respond) and it’s on an open platform for thousands to see (like Facebook).

on-demand-advertising-solutions-newsletter-card-image1Podcast #28 discusses how a bad customer experience shared on social media can kill your business.

It underscores the need to provide regular updated content, monitoring and engagement.

It’s all a part of our three-part strategy to drive SEO and web traffic and make your business exceed the profile and exposure of your competitors.

You may learn more about us and schedule a free appointment.

You may listen to all of our exclusive audio podcasts here.

Now, enjoy the video podcast!

podcast cover

Marketing Your Company; Are You Aware When Your Customers Vent? What Can Kill Your Business, Podcast #28

Host: John D. Verlin

Transcript:

Once again, good afternoon. This is John Verlin with On Demand Advertising Solutions, with another Digital Marketing Update.

I’m calling this Are You Aware When Your Customers Vent? What Can Kill Your Business. A couple of observations here in general and then a major one.

This past weekend, now this is the first part of August, 2017. I attended a seminar for a Small Business Development Center at a local community college. It was about buying and selling a business. I talked to an attorney who was an instructor.

I asked him to tell me in general about how he’s seeing small businesses today and how they’re doing.

Are they doing well? Are they not dong well…so-so? And he said, well, they’re doing all right. But nothing to scream about. He talks to a lot of small business owners who coming to the college courses.

I talked to him about what I do and he pretty much agreed with me and said a lot of small business owners doing understand social media, content marketing, podcasting—they don’t understand a lot of it and they don’t use it.

But, he said they need to because its moving in that direction pretty quick.

And if they aren’t doing it, their competitors will. He pretty much agreed with everything in that statement. So it’s something to be aware of. This is from a community college that teaches small business courses on building a business.

And his observations of talking to people who are coming to those courses. So, it’s kind of a heads up on being aware of this. Either have someone freelance and do it for you. Or hire someone to do it for you. Because it is going to be impacting businesses large and small and already has and will continue to do so.

Now, another example I had over the weekend was a lady who lives in the town I live in does machine quilt making. And my girlfriends sister wanted to get a baby blanket made.

So, we ended up driving by, we found out from a yard sign that she did this, and we met with her. She was going to need measurements and everything. I asked her do you have a website?

She said no. Oh, ok. So do you just have the yard sign. And she said yea. I said I’m curious how that’s worked for you.

She said it’s worked OK, but the city is probably going to make me take it down. So in the back of my mind i’m thinking you don’t have a website. She obviously has some quilts made and probably getting business word of mouth I imagine.

And yet, what’s going to happen when she has to take the sign down? What is she going to do? And she doesn’t have a website.

This is kind of what I’m talking about, the dilemma. She’s probably getting referrals, which is great. She may continue to do that and she may not want anymore business too.

But this is a scenario I’m seeing time and time again, and they’re not prepared for when suddenly their market changes. Or a competitor comes in and does it better, or cheaper. These are things to be aware of.

One glaring example I wanted to talk about was a large national bank. Multi-billion dollar bank. I was talking to another social media person about some of the implications of social media impact.

Why business needs to be doing constant content marketing and engaging their prospects and customers.

This is a huge bank. Has been around over a hundred years. They have over 37,000 followers on Twitter and 16,000 likes on Facebook.

Quite a bit of activity. A lot of their posts were tied into community things they’re sponsoring or good things. But as I was reading through some of the posts, a couple of them stood out.

Basically, how dare you charge my elderly mother a fee because of blah blah blah. And it was pretty glaring. And they responded, we apologize we tried to call you numerous times. Please call us at this number. So at least they responded.

That was the first thing. And I was showing this to my girlfriend to get her opinion. And then we see a second post.

Somebody wrote in, you people went after my dying father…and we were behind because of medical bills, this and that and the other. How dare you charge us this and that and threaten to do this and that. And it was pretty cutting.

I was really shocked. And they responded, please call us, we’ll work through this together. But why do I mention this?

This is an example of what can happen and why social media in doing these things I’ve been suggesting in podcasts. Getting your content and expertise out in podcasting. Getting it online. Building relationships with your prospects and customers.

Because these are customers of this huge bank. That’s been around forever that are venting. In spite of all the other posts about the community service and other things they’re sponsoring. Suddenly, these two posts cut to the bone.

Made them look like a terrible, evil bank that’s going after their customers.

I looked at my girlfriend and she’s like, whoa! Now she’s never even seen that Facebook page or been exposed to that bank.

Let’s say she was a prospect. Suddenly read that on their Facebook page. Now they are aware because they’ve been doing social media for five years it looks like on their Facebook page.

This is my point in all of this. Your customers and prospects whether you know it or not, maybe venting on if you do have a Facebook business page.

If you have a personal business page or Yelp. Or Google +. Or any other social media platform whether you think you need to be involved or not.

They may be involved and they may be saying nasty things about you. So it’s critical that you’re aware and that you’re answering.

Now the bank did respond. Hopefully they’ll rectify everything that happened. But the point is this is why this is dangerous.

Social media is here and as that lawyer I talked to indicated, it’s moving in this direction. So much so that you can’t sit on your duff and not pay attention to it. But because people can now use it, it’s not a bad neighbor telling a neighbor something.

This is venting to thousands and thousands of people who are following or liking those posts, or pages.

And just remember, all marketing ties back in to the customer experience. Whether it’s Facebook posts, Twitter posts, blogging content, podcasting, you name it.

TV ads, radio ads, email marketing…all of this ties in to that end customer experience. That’s the critical thing, because that is where we are headed.

And it’s going to be mandated or dictated at some point through automated, not saying robotics but artificial intelligence.

It’s getting smarter and smarter to know what customers want. And providing that will be the differentiator between you and a competitor.

But getting a customer mad and not responding or not being aware and i’ve seen this happen quite a few times. Could be a black eye and it didn’t have to happen is what I’m saying.

So, this is why all of this is important of recognizing the online threat if you want to call it that, from a competitor or prospects or customers who are engaged.

And if you’re not. That’s a judgement call. That’s a judgement call to when they are searching and looking for who to do business with.

So anyway. I’ll get off my soapbox. Just some observations from this past week of people I’ve talked to, things I’ve witnessed.

To keep in mind when you’re growing your business. If you’re not doing social media, be thinking about that. Be understanding.

Your customers are critical. And they maybe engaged on social media one way or the other.

If you don’t have a website, again it’s all part of customer perception and branding of what I call the marketing platform of who you are and about your business.

John Verlin, I’m at jverlin1@yahoo.com. On Demand Advertising Solutions website: www.OnDemandAdvertisingSolutions.com.

Have a great weekend and we’ll talk to you next week!

All podcasts are recorded by Verlin Studios / Gardner, Kansas

Copyright, John D. Verlin 2017

Verlin Studios mock up sharp and smooth