Finding Your Markets Dominant Buying Motive

Are you selling o what your core target market truly wants? Have you clearly indentified why your customers or clients really choose to buy what you have? In the book the Sales Advantage they mention a concept that I relate to new media marketing. Teh Dominate Buying Motive. This is essentially the emotional reason why people buy from you or your product.

We talk a little about that and how to put it in practice. I also mention a few stories to support this. First is:

A lingering recession, coupled with consumers’ rapid adoption of digital tools, has inexorably altered shopping behavior in categories like groceries, home electronics, apparel and quick-service restaurants. Consumers engage with a variety of digital platforms as they research small and large purchases, when they’re in physical stores and during post-shop activities such as product reviews and referrals. More here >>

And Welcome e-mails with offers equal more transactions: Experian.

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Maslow’s Hierarchy of Needs and Earned Social Media

In today’s podcast we talk about the needs of person and how can going deeper and understanding people can help you with success in earned media. So when you share messaging, offers, products, or communication in social media you might be able to get insight.

Maslow’s Hierarchy of Needs says you can predict how people will behave by looking at their underlying needs. Maslow believed, for example, a starving person would find food first, putting aside every other consideration including social niceties.

What are these core needs?

  • Physiological needs are the requirements for human survival. They include breathing, food, water, shelter, sex, clothing, sleep and comfort.
  • Safety needs can be seen as a way to meet tomorrow’s physiological needs. They include personal and financial security, health, order, law and protection from elements.
  • Love and belonging needs are about social interactions. We don’t want to go through life alone. Social needs include friendship, love, intimacy, family, community, belonging and relationships.
  • Esteem needs include self-esteem as well as recognition from others. Esteem can come in the form of achievement, status, prestige, recognition, mastery, independence and responsibility.
  • Self-actualization needs relate to becoming more than what we are, and they can come from peace, knowledge, self-fulfillment, realization of personal potential, personal growth and peak experiences.

We talk about these needs. Can you get to a further understanding of these needs to connect with people in the social space. I go in different directions here in the hope that I spur some thoughts for you. Can we use these needs to understand why people engage social media. How you can keep these needs in mind when you engage in earned media.

I would love feedback on this show or should I stick to a roundup of news and thoughts?

** this show is one of the top 10 listened to and shared shows from 2010.

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Future Technologies to Watch for Business

Today we talk about how technology is changing. How the opportunity for processing power and connections for the average person is amazing. How we really are on the edge of a major change on how we communicate, interact, and find information.

Cloud computing, mobile technology, RFID, NFC, and facial recognition are some of the things that are just waiting to steam roll to the average person. The key is this technology isn’t a dream… all of it could be implemented today. I’m not arguing for that–in fact I think we need to be very careful about our privacy and what technologies we embrace. I still find it hard to see how we are going to stop it.

You might have seen this story on Google Facial recognition:

This morning I read the CNN story that said Google was finally going to incorporate facial recognition technology into its Goggles app or another mobile application. I then wrote an opinion piece that argued Google was courting a major privacy backlash, despite seeming to have privacy controls worked out in the article. More on Search Engine Land

We talk about that but also dive in with Near field communication, RFID devices, and how Facebook changes the experience of your after high school years. One place I do suggest that you follow is the NFC association. I see this technology in most mobile devices in the next 3 years and will be the defacto purchasing platform.

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Using the Arc of Marketing to Create Sales and Actions

One of the hidden benefits of digital marketing is your ability to easily creating and releasing campaigns for driving your customers to buy your stuff.

I call this the Arc of Marketing. Draw an arc, at the end create the sale or call to action that you want your audience do. Below the arc put your value propositions for your audience. On various points of the arc you then put tick marks where you can reinforce these values and lead to your call to action. Then in the arc you put your call to action opportunities.

Then your next step is to create content, text, video, and pictures that support your value proposition and call to action. This arc of marketing provides you with a framework for creating digital marketing campaigns.

Part of this strategy takes advantage of Priming, here is a post I did on How to Use Priming in Social Media.

Your Secret Business Weapon – Scheduling Time for Strategy

Today I wanted to share something I’ve been doing the last few months that has drastically helped my business. This one thing has really helped me gain focus on see strategies I’m not sure I would have seen before.

It’s simple actually. Once a week I’ve been putting in my calender a strategy session. Now I book this meeting with myself–and sometimes I’m tough to get a hold of. Eventually I get through and schedule the meeting.

Here’s How I Run My Private Strategy Meeting

I turn off the phone, leave the email closed… in fact I walk away from the computer completely.

I focus on strategy. Strategies to increase business, strategies to do things better. Even strategies to think differently in what I and the team at You Brand, Inc. does.

I originally started with only a half hour a week but now I’m up to an hour. I find this helps me focus on how to do better business and strategies to put in place in the future.

I’m not sure where I picked up this tip but it has does wonders for our business. I suggest you do the same.

That’s what we talk about in today’s show.

Game Changing YouTube Editing and 3 More Stories of Note

This afternoon, YouTube began rolling out the WeVideo integration to users. Just upload your clip, and WeVideo does the rendering for you. It’s got everything a traditional video editing software has: timelines, clips libraries, color correction, sound effects, and more. Read more…

“The American Dream,” loosely defined, is made up of a few building blocks. The right to life, liberty, and to pursue happiness. The opportunity to advance, whether through education, sport, entertainment, or enterprise. Perhaps have a family, live in a house, run your own business. read more from Techcrunch.

Are You Reading Too Much? and Sales Prospecting Questions that Work.

Week in Review – Security and Heart of Your Market

A few stories that have a security twist before we cover the week in review:

Talk over an iPhone 4S security flaw regarding Siri working from the Lock screen has made the rounds the past few days, but this “security flaw” is not so much a flaw, but an indented feature from Apple. more here.

I discovered a vulnerability in Adobe Flash that allows any website to turn on your webcam and microphone without your knowledge or consent to spy on you.

It works in all versions of Adobe Flash that I tested. I’ve confirmed that it works in the Firefox and Safari for Mac browsers. Use one of those if you check out the live demo. There’s a weird CSS opacity bug in most other browsers (Chrome for Mac and most browsers on Windows/Linux). view more here.

As email, documents, and almost every aspect of our professional and personal lives moves onto the “cloud”—remote servers we rely on to store, guard, and make available all of our data whenever and from wherever we want them, all the time and into eternity—a brush with disaster reminds the author and his wife just how vulnerable those data can be. Read more on Hacked!

Now Week in Review

Simple answer to the question in the headline… You should be spending all  your energy on creating immediate income (or delivering on existing income opportunities) Next, creating a unique position for your product or service in order to create demand in the market place Below I expand on how you would go about this. Are You a Business of One? Here’s Where to Focus Your Energy.

How to create a Brand Name Part1 and Part 2.

I think one of the hardest things for business owners or marketers to do is self analyze their work. That is stepping outside of the business and objectively measuring results. The thing is there is one surefire way to overcome this, you have to implement a regime of testing in your business. How to Overcome the Challenge of Self Analyzing Your Work.

That’s all for this week, see you on Monday!

Are You a Business of One? Here’s Where to Focus Your Energy

Simple answer to the question in the headline…

  1. You should be spending all  your energy on creating immediate income (or delivering on existing income opportunities)
  2. Next, creating a unique position for your product or service in order to create demand in the market place

Below I expand on how you would go about this. Today’s show topic came about from a response to the above 10 Steps to Becoming the Only Option in Your Target Market. In the first email we ask two main questions:

  • What is your biggest marketing challenge?
  • What’s one thing holding you back in your business?

Most of the responses are focused on what activities someone should be doing in both their business and marketing. Today I thought I’d share and expand on a recent email exchange that is usually where I start. Here’s the response from those two questions from Christi who is a photographer:

  • What is your biggest marketing challenge? I am a fine art photographer in a huge crowd, many of whom have very established customer bases and more talent/experience. My work is good and will appeal to a specific customer base, I’m sure, but I need to be able to stand out so they can find me.
  • What’s one thing that is holding you back in your business? This is a one-woman operation. I have to be marketer, artist, social networker, secretary, etc., and it’s a challenge to keep all the plates spinning. I officially hung out my shingle five months ago and have accomplished a lot in that short time. Now I need to figure out where to best focus my energies in marketing and networking so that I also have time to produce my art.

I love this response as it’s well thought out and gives me plenty of information to respond in detail. As an expert marketer there are a few things that really stand out. First, does she really have a target market defined? Next, how can she create a unique position in the market place so that she can create more demand for her service or product. Finally, this all equates to an income problem for her business.

Do You Have a True Target Market?

In my response I share exactly how to solve the income problem and find out if she truly has a target market. Here’s my response (which I expand on in more detail in today’s show):

Here’s a few things that come immediately to mind that I hope will help you gain a little more clarity:
  1. Can you list 5 people/business that should be doing business with you but aren’t?
First, If you can’t immediately name 5 then you have a challenge of really identifying who your target market is. So I’m clear, it’s not archetypes of customers but actual people that could (I like to visualize them taking out their checkbook) buy your services right now today. It’s important that they are real people you can get on the phone or call.
Second part, from the little you told me I’d suggest you spend most of your efforts connecting with the above. Drop all social activities except for follow up to to gain the attention of the above person/company. Your best tool will be in person meeting or on the phone. To me this will take you farther than any blogging, social, or other aspect of networking.
Photography is tough… I feel in some ways it’s like interior design, at least on the marketing side. Here’s what I’ve learned in that space. We helped a designer with marketing and at first his thought was that he can design anything, which is probably true. The challenge is this confuses the market, ultimately people want to work with the expert. That’s why you have to create a style (or look) unique to you. Then people work with you for that idea, for that style, look etc.
I think its probably the same for you. Not only is it doing the exercise above but it’s figuring out what you have to be known for… and I know that’s tough as an artist. Most artists I’ve worked with find that limiting. I think the key there is to interpret your style into the other things you do. When you do that you start creating a self selecting subset of people willing to do business with you–essentially they either like you or don’t.

Here’s Why I Responded This Way

First her question was about where to spend energy. To me her energy should be spent talking with real people who can actually pay her to deliver her service. If she can come up with 5 then that’s where to start. If she can’t then her first task is to create those 5–then connect.
Second, she’s in a field that is full of me-too type businesses. She has to find a way to add value to what she does. She has to create a unique position in the market place that creates demand for her service or product. If she was competing with photography being a commodity then she will have to still create a unique position but also understand it’s really the delivery method (as we talk about in this show). The key here is stepping out and being unique. Having a unique style that the market ascribes towards and will pay for. It’s not an easy task but it’s where the energy should be spent.

How to Create a Brand Name [part 2]

Here in our second part of our 2 part series on how to create a brand name we dive into detailed exercises for coming up with your name. If you haven’t listened to part 1 you can find that at How to Create a Brand Name Part 1.

So you’ve completed your empathy map and your metaphor map. These help you not only focus your mind and start the creative wheels turning in your mind. This is what you want is for your unconscious mind to most of the heavy lifting. Before we dive into creating a list of names there are a few more questions that will help.

Answer these 3 questions about you and your company:

  1. Who are you?
  2. What do you do?
  3. Why does it matter?

When answering “what do you do” make sure you create this with benefits in mind. You also want to make this memorable so someone can relay this information to someone else.

This last one is important. It’s about how it matters to you, your customers, your market, and the world. Why does it matter. This is like creating your big idea. Your big idea on what your trying to accomplish.

These next questions will be familiar only with a twist. In part 1 we talked about what your target market thinks and feels about your company. The twist is you want to look inside and project what you want someone to think and feel. Not what they feel but what you intend them to feel and think.

  • What do we want them to think about your company?
  • What do we want them to feel about your company?

Your Next Step

Take all these words and phrases and start building a larger list. You do this typically by using an online dictionary and diving into other words that are similar to these words. Your goal is to build the biggest until you get a few that just feel right to you. Yes, this is combination of art and science.

Here’s what to keep in mind. I call this the business card test. You want to create a brand name that not only feels good inside but something that you would be so proud of that you would be excited to give out your business card.  Yes excited and proud to hand over your business card.

Important Brand Name Tips

  • Make sure you’ve created a brand name someone can say and they know immediately how to pronounce it.
  • Focus on the core emotion you want to convey to your target market. By now you have a list of words and phrases from the exercises before. Now take all that and create a top of the list words that convey what you want the market to feel.
  • Avoid strings of letters or numbers that have little or no meaning.

There’s tons more in the show as this part runs roughly 23 minutes. I should mention as well that this is one of those subjects that is tough to explain because sometimes all these steps are not necessary. Sometimes you come upon a name early in the process and other times it takes longer.

 

How to Create a Brand Name [part 1]

First I have to apologize, in the beginning of the show I didn’t share that this would be a 2 part series. Sorry about that but I wanted to make sure we covered this in-depth and as complete as possible.

In part 1 of how to create a brand name we talk about laying the foundation. This is an important step because seldom do you sit down with a pen and piece of paper and immediately conjure up the perfect name. I like to say that you have to prime the pump–with the pump being your mind. You have to put all the info in so your subconscious can do the work. Now that’s not to say that you wont find an idea that wont lead down the path of finding that perfect name. Usually that’s the way it works. You have an idea or a thought that you just can’t get out of your head and that leads to a connection. Then you combine a few things and before you know you have the perfect name.

There are really 2 exercises I’ve found that help with getting into the right frame of mind to create a brand name. First up is something I’ve shared before… that’s the empathy map. This is an exercise that not only helps you get into the mind of the market but it is something you should have already done. It’s one of the best exercises you can do to create a good understanding of who your customer truly is.

Empathy Map

I first saw this concept in the book Business Model Generation. The empathy map is broken down by defining the following elements of your target persona:

  • What do they think and feel?
  • What do they see?
  • What do they say and do?
  • What do they hear?
  • What gives them pain?
  • What/How do they gain?

Metaphor Map

Next up is creating a metaphor map. This is an exercise designed to figure out what your target market should think and feel about your company. This exercise can be done two ways. First is to draw a circle on the page. Put you or your company in the center of that circle. Next you surround that circle with words or phrases you want your target market to think and feel about your company. Do separate exercises answering the following questions:

  • What do I want my target market to feel about my company?
  • What do I want my target market to think about my company?

It’s important that you have a complete open mind and go through this exercise in full. It will start moving the gears inside your mind. It’s also important for the next step and what we cover in part 2. That’s the actual name generation process. This is the process you go through to come up with names that correlate to both the empathy map and the metaphor map.