Category Archives: – Marketing your Business

Elevator speech

How to Write Your Elevator Speech for Your USP

Say that you meet someone in the hallway at a business conference and they ask you what you do. What will you say? They don’t want to hear a 15 minute speech on your business. They don’t even want to hear more than a couple of minutes.

Everyone needs to have a 1 minute speech prepared that explains exactly what their business is all about and why people should even listen to them. This is commonly referred to as an “elevator speech” since you should be able to say it in the space of a short elevator ride. After that, you will hopefully get into a deeper discussion.

Elevator speech

 

Elevator pitch by Shutterstock

Here are the main steps to creating your elevator speech (sometimes called an elevator pitch):

1. Outline your USP

What are the key points of your unique selling proposition? What’s different about you compared to your competitors? Write these down in a simple bullet point format. Then cut out irrelevant words and explanations. Pare your USP down to the bare minimum, the most basic essence of what you are offering people.

2. Write your problem/solution statement

Now put your USP description into one sentence. It helps to put it in terms of a solution to a problem, since this is the most important part of anything you are selling. It’s why people buy.

For example,” I provide ready-made solutions for people that don’t have time to write or just hate it”. This doesn’t tell someone exactly what you do, but it intrigues them to want to learn more.

3. Write your features/benefits statement

Now write another sentence that explains the key points of how you deliver that solution. Your statement should be a very brief summary of the key features and benefits of what you are selling. For example, “By writing the articles for them, I free up their time to focus on other parts of their business”.

This isn’t a sales pitch, which would just turn off someone that you met in an elevator. It’s a summary of why your solution actually works. It shouldn’t give a person all the details of your business. Instead, it should create an opening for more questions from the other person. In other words, it’s a way to get a discussion going.

4. Put it all together

Now that you’ve written the basics of your elevator speech, it’s time to put it all together. Practice saying it out loud and add other details to make your speech sound natural. Try it out on someone else and get their feedback and reaction. Make sure to time yourself to make sure your little speech doesn’t take more than about a minute. Finally, take the time revise and revisit your elevator speech frequently, especially as your business changes.

This may all sound a bit corny to you, or a little too formulaic, or perhaps a little too formal for your “little business”.  But just ask yourself what do you say currently when people ask you “what do you do?”  Do you waffle a bit, shrug your shoulders “oh well, I have a little home business which…..”

Creating your own individual elevator speech is far more important than most people realize. You never know when you will meet someone that can be a help in your business, or who is a potential customer. Having a prepared 30 second to one minute speech makes you sound confident and your business sound attractive.

Elevator speech

Hello, so what do you do?  by Shutterstock

 

This is the one liner you can use with friends who have no idea what you do or with business colleagues you meet at a conference “in the elevator”. It is your ticket to opening the door to a potential relationship.

Unique selling proposition

How to Define Your Unique Selling Proposition

It will be extraordinarily difficult to succeed if you don’t have something that sets you apart. This is referred to as your unique selling proposition (USP), also called your unique value proposition.

shutterstock_220969024

What is your USP? by Shutterstock

Why should someone buy from you vs. anyone else? What extra value can you offer? Look closely at what you want to offer to people as part of your business model. Then, you’ll need to answer the following questions from the very start of your online business. Continue reading

How to Conduct Market Research for Your Online Business

One of the biggest mistakes any internet marketer can make is to fail to understand their market. Before you start spending all your time and money dedicated to one target niche or product, you need to do some thorough market research. Don’t even begin to create a business plan until you’ve done the following: Continue reading

marketing psychology

Marketing Psychology: Do People Purchase More from Authority Figures?

Do People buy more from Authority figures?  Listen to the podcast here

Research does seem to support the theory that people will buy more from someone who is seen as an authority figure. If this is true, then how can you apply this tactic to your own business?

authority figure

First you need to understand the concept behind this. An authority figure is someone who has gained the trust and respect of others. This is not an overnight occurrence, it takes time to build this type of relationship.

Let’s look at some ways you can set yourself up to be viewed as an authority in your business. The best way to become an authority in any niche or field is to publish a book. Authors are automatically viewed as an authoritive person. With the current boom of self publishing it is really easy to publish your own book.

Another way to gain authority so people will buy from you is to be featured in interviews and articles. Start offering to do interviews with people that are related to your industry. You can then publish the links to these interviews on your blog or in your newsletter.

Video is another great way to become an authority figure, plus it allows people to form a more human bond with you. It is much easier to identify with a person that you have seen up close and had a more personal connection with.

Other ways to get your name on content in different formats is to publish whitepapers and short reports. Just ensure that everything is branded with your name and your company logo. Again, this just helps to re-enforce that you know what you are talking about.

As a business owner you should always be attempting to make yourself be seen as an authority figure. You don’t want to start doing this just as a way to draw people in. Eventually people will see that you are not really sincere and you could end up losing customers instead.

Authority figure

People are always happy to purchase from people that they know, like and trust. Work on developing this in your everyday business operations. Start sending out regular emails or newsletters with tips and information for them. Then when you do recommend a product or run a sale they will be only too happy to purchase directly from you.

Remember the best way to be viewed as an authority figure is to be seen as a respectful and honest person. Of course publishing your own books and whitepapers will help reinforce this.

This is one of a series of articles in Marketing Psychology which will be published on Motivating Mum throughout September and October. You can see a list of all the articles that have been published so far by following the tag Marketing Psychology

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marketing psychology

Marketing Psychology: The Irresistable Power of Headlines

The Irresistible Power of Headlines: Listen to the podcast of this article here

HEADLINES SELL

Have you ever sat through a long sales pitch and ended up not remembering any of it?

It was just too long and boring that your mind drifted off towards more pleasant thoughts. This is because it is much easier for a person to remember short pieces over much longer ones. Which is exactly why big marketing firms use effective, short headlines to sell their products and services.

power of headlines

These same principles apply to long presentations. If you were to give a seminar about book publishing. The majority of your attendees would remember that your seminar was on the topic of how to publish a book. They would not necessarily remember or recall all the details in between such as formatting a book and how to add printable graphics to it.

When it comes to marketing to your customers you want to apply the short and sweet tactic to your campaigns. The easiest way to accomplish this is by using headlines to your advantage.

Taking the time to learn how to write effective headlines can really help you create eager buyers for your products. When writing your headlines you want to try and include as much detail as possible into them.

Look for examples of headlines that attract your attention. The next time you check your email make of note of which subject lines appeal to you and think about why. You may even want to create a swipe file of headlines that you found compelling. This can help you when it comes time to write your own headlines.

Pay attention on social media and look for good headlines. Another fantastic source of headline ideas are magazines. It’s the headlines that sells their magazine each month so really pay attention to the way they are used here.

Here are some basic tips for writing compelling headlines:

 

  • Use actionable words – How to do something in 3 easy steps.
  • Be short – try to use around 8 to 10 words only in your headline.
  • Use keywords – this applies to using headlines on your blog. Try to incorporate any keywords you are trying to rank for in your headline.
  • Be clear – ensure that you headline is simple, clear and easily understood.
  • Imply confidence – use words such as the best you’ve ever seen.
  • Be intriguing – add an air of mystery to your headline as this will help draw the reader in and have them wanting to know.

 

The more you start using headlines the better you will become at writing them.

 

This is one of a series of articles in Marketing Psychology which will be published on Motivating Mum throughout September and October. You can see a list of all the articles that have been published so far by following the tag Marketing Psychology

If you have enjoyed this post, please sign up for a Daily Dose of Motivation – Business Building and Motivation tips delivered to your inbox every day

marketing psychology

Marketing Psychology: Do Obliged People Buy More From You?

Do Obliged People buy more from you? Listen to the podcast here

When you make a commitment to someone how often do you break your promise? Research shows that most people hate to break their promise. So why not use this in your marketing to a certain degree?

Let’s think of how you can get people to make a commitment to you, and your business, so that they will purchase your products. One example of this is if you were about to publish a brand new book on Amazon. You could offer to give your customers a big discount on the book if they sign up to your Early Bird Special Pricing List. Once they are on this list and you email them their discount they are going to feel obliged to purchase your book. You didn’t pressure them into this decision, you just made them a fantastic offer that they didn’t want to lose out on.

obliged people

Of course, this doesn’t mean that everyone will commit to purchasing your book. But you will notice that the majority of people will follow through and take you up on your offer.

Another way to create long term loyal customers is by offering them a membership deal for example. Instead of just offering a monthly option for your membership. Offer a lower price on a 12 month option. Make it so that they get one or two months for free. They will see this as value for their money and sign up for your offer.

Again you have just created a long term customer. In the meantime you keep connecting with them and offering a few bonuses here and there. Before you know this person renews their membership again for another year.

Always bear in mind that you don’t want to bribe or pressure your customers. You are simply offering them lots of wonderful options, which they feel obliged to take advantage of.

If you get creative you can probably come up with lots of ways to offer incentives to your customers and clients. Early Bird specials work well, as does offering a discount coupon.  Once the customer has the coupon in their  hand or on their computer they are more likely to actually use it.

Just don’t fall into the trap of offering too many coupons too often. Otherwise you are teaching your customers to only purchase with coupons. They will just wait patiently until you run your next sale.

Your next step is to come up with a great way to get your customers to feel obliged to buy or opt in to one of your offers, have fun!

 

This is one of a series of articles in Marketing Psychology which will be published on Motivating Mum throughout September and October. You can see a list of all the articles that have been published so far by following the tag Marketing Psychology

If you have enjoyed this post, please sign up for a Daily Dose of Motivation – Business Building and Motivation tips delivered to your inbox every day

marketing psychology

Marketing Psychology: Bundling Your Products Together

Bundling your Products together: Listen to the audio file here

 

Did you know that the majority of people can only remember seven pieces of information at any one time? If a person is presented with more than this amount they tend to cluster or bundle the information together. Have you ever written down a list of items and then tried to remember them? Chances are you didn’t fare that well.

bundling

So how can you apply this technique to your business and create more eager buyers?

First of all you want to have a look at how your website is set up. Do you have a store front on your page? If so, is it easy to find products, do you have categories set up or not?

Just by organising your store, and this can apply to a physical store as well, you make it much easier for customers to find what they want. Of course, when they know where and how to find items they will purchase them.

Keeping the short term memory idea in place, we can take this and apply it to how you actually package your products. Remember who doesn’t love a sale or special offer? Just about everyone does, it’s a great incentive to getting a great deal while stocking up on certain items.

Take a look at your products and see if you can bundle up related ones together. Then simply price these at a great discount and give your customers an offer they can’t refuse! If the price is good enough, people will still purchase even if they have one of the items or products already. The offer is just that good.

Another idea is to bundle up a couple of products and then run them as a time  limited event. Weekend special deals normally go over really well with customers.

You can also bundle up products as your stock becomes depleted. Take an older product and include with a brand new product and offer a discount on it.

It is possible to get quite creative with this bundling process. You can easily add a ton of perceived value to a certain product by including something else with it. This can be applied to physical products as well as digital ones. Put your thinking cap on and get a little creative.

Always keep in mind that buyers love a special deal and want to feel as though they are appreciated as a customer. What better way to do this than by running special offers that include more than one product?

 

This is one of a series of articles in Marketing Psychology which will be published on Motivating Mum throughout September and October. You can see a list of all the articles that have been published so far by following the tag Marketing Psychology

If you have enjoyed this post, please sign up for a Daily Dose of Motivation – Business Building and Motivation tips delivered to your inbox every day

marketing psychology

Marketing Psychology: Adding Scarcity to your Offers

Adding Scarcity to your Offers: listen to the podcast here

How many times have you made a buying decision because you were told that there were only so many of the item left? This is known as scarcity marketing and it is extremely effective.

The principle behind this is known as supply and demand. If your product is seen as being in limited supply more value is immediately associated with it. This gives buyers the mentality of “if everyone is snapping this up, then I should too”!

scarcity

In order for this to work effectively your offer has to be positioned correctly in the marketplace. Your end goal is to boost the desire of your customer to purchase your product.

By positioning your products with scarcity you are giving it more perceived value immediately. You need to show that you had tons of this product in stock and due to popular demand you only have X number left. This is more effective than telling customers I only have 25 in stock so you’d better buy now before they are gone.

In the latter example the customer doesn’t feel a sense of urgency to buy. You have no proof that these are popular or in demand. Your customers are probably of the mindset that you only ordered 25 because you didn’t think more than that would sell. Can you see the difference?

One tactic that many online marketers use for selling digital products is to use what is known as a dime sale. This is when they run a sale where the price increases a set amount after a certain number of sales.

When visitors arrive on the sales page they will be shown a note that says “only 2 left at this price”. This adds scarcity to the offer and if they are interested they will hit that buy button faster to get the lower price.

Another example of adding scarcity is to remind your customers that you only have a certain number of this item left in stock. This could apply to physical items, digital items or even to ticket sales, if you are selling tickets to an event.

Successful marketers will often add scarcity into an offer by including a specific date. Stating that the price will increase to X amount by a certain date can be extremely effective. This helps to get those who are borderline shoppers and helps to turn them into an actual buyer.

Adding scarcity is a marketing technique than can really help increase your bottom line. If you haven’t tried this tactic yet maybe it is time you did.

This is one of a series of articles in Marketing Psychology which will be published on Motivating Mum throughout September and October. You can see a list of all the articles that have been published so far by following the tag Marketing Psychology

If you have enjoyed this post, please sign up for a Daily Dose of Motivation – Business Building and Motivation tips delivered to your inbox every day

marketing psychology

Marketing Psychology: The Power of Illusion

The Power of Illusion – listen to the audio file here

 

Have you noticed that the minute you decide you want to buy a new red sports car, you start noticing them everywhere? The same happens when you are told that you are having a baby. You suddenly start seeing pregnant women and babies everywhere?

There is actually a term associated with this effect and it is known as “recency illusion”. It is an effect that happens when you encounter something new, you then notice it everywhere.

Successful companies use this concept in their marketing techniques to their advantage. They figure out a way to exposure their target market to the same content, just in different ways.

power of illusion

This can be achieved by designing a marketing campaign that uses social media content along with videos. Your message is being conveyed in different ways, but your company is being exposed over and over again, eventually the customer makes a purchase.

You need to find creative ways where you can expose your customers to your products and information repeatedly. This way they become accustomed to seeing your name and brand associated with a particular product. When it comes time to purchase this product they will buy from you without thinking twice.

As we mentioned earlier the best way to do this is by offering the same content in different ways. You can do this by using any of the following methods:

  • Turning your blog posts and articles into audio content
  • Creating videos out of your content
  • Adding graphical images and quotes to your material and posting it to your social media sites
  • Tweeting out portions of your content
  • Creating book trailers

What you basically are doing is repurposing your content in various ways. Once you get used to doing this you will find that it is an extremely effective way to get more traffic to your website as well as to your physical location, if you have one.

The same techniques apply to your branding. You want to have a great logo designed and then broadcast this all over the place. Use it in all your advertising materials and on your business cards. You could even get company tee-shirts made up and give them away to your employees as well as to your customers. Talk about free walking advertisements.

You definitely want to use the power of illusion in your marketing media today. Research has shown that the more someone is exposed to a particular brand or product the more likely they are to become a buyer.

 

This is one of a series of articles in Marketing Psychology which will be published on Motivating Mum throughout September and October. You can see a list of all the articles that have been published so far by following the tag Marketing Psychology

If you have enjoyed this post, please sign up for a Daily Dose of Motivation – Business Building and Motivation tips delivered to your inbox every day

marketing psychology

Marketing Psychology: Using Reciprocity to Influence Buyers

Using Reciprocity to Influence Buyers – listen to the podcast of this article here


The concept of reciprocity is fairly simple. If someone does something for you, you will automatically feel obliged to do something in return. You want to pay someone back for acting in a sincere way. This has nothing at all to do with bribing someone.

Now, the trick is learning how to use this influence in your marketing plan. What can you do for your potential customers that will have them wanting to return the favour?

reciprocity

The easiest way to do this is to give something away for free to your customers or potential customers. The product that you give away doesn’t have to be expensive at all. It could be something that you put together yourself.

Here are some examples of items that you could give away to your customers and clients.

  • Free reports – top tips on how to use a certain product
  • Video – showing customers how to use one of your tools or services
  • Graphics – people love graphics so giving away images and photos will work well
  • Software – a free app, desktop backgrounds
  • Interview recording
  • PDF version of one of your books

Basically you can give your customers anything that you wish. Just ensure that it has a value attached to it. Plus it needs to be directly related to your business and the products or services that you offer. If not, then it will not be perceived as offering value and won’t get you the desired response that you are looking for.

reciprocity

 

If you don’t have anything to physically give to your customers think of what else you could do for them. Why not write a public thank you message on their Facebook profile, or just tag them on your page. This way they will get notified that they have been appreciated by you. This is an easy way to make your customers feel that little bit extra special.

Of course, just because you have given your customers a gift, you can’t expect them to immediately purchase something. Keep in contact with them by sending out a newsletter or posting on your social sites. This keeps your name in front of them. Then when they do need a product, your company name will spring to mind first.

Keep repeating this process on a regular basis and you will have happy customers who know they are getting a great deal from you.

Do you offer any kind of gift to your customers – please leave a comment and tell me about it.  You can even leave a link to your site using Commmentluv and I will come and have a look at your offer.

This is one of a series of articles in Marketing Psychology which will be published on Motivating Mum throughout September and October. You can see a list of all the articles that have been published so far by following the tag Marketing Psychology

If you have enjoyed this post, please sign up for a Daily Dose of Motivation – Business Building and Motivation tips delivered to your inbox every day