MYTH BUSTING MONDAY: FIRST THING TO DO IF YOU NEED MORE SALES IS RAMP UP YOUR MARKETING

No. At least not until you have confirmed what product/services are profitable.

I see clients (and I’ve done it too) that spend time and money on more marketing, increase sales, yet see little extra profit. The reason is they are pushing an unprofitable product/service that also ties up resources that could be better spent.

The first thing to do before ramping up your marketing is to confirm your profit margins (i.e. exactly how much it really costs you to provide the product/service) and confirm which products/services you should really be promoting to achieve your desired profit.

Make sure you know your profit margins BEFORE ramping up your marketing.
#businesstips #marketing

MYTH BUSTING MONDAY – BUSINESS PLANS ARE ALWAYS LONG, COMPLICATED, TIME CONSUMING AND OF LITTLE USE

Introducing my CLEAR ‘Business Plan’. Great for planning the next 6-12 months. Far better to have a plan than no plan at all!

Get clear on:

C – ideal customers you are looking for. Your ‘A’ and ‘B’s, not your ‘C’s. Who are they exactly? Communicate this to the team.

L – looking for? What are your ideal customers looking for in terms of price, features, benefits, packaging, delivery, payment options etc etc? Use these in your marketing, website, emails, brochures, cold calls etc.

E – earnings you want. Both revenue and profit. Break down into monthly targets.

A – actions required to achieve the above?

R – roles and responsibilities for the actions? Who’s going to do them and by when?

That’s it! Get clear on these and you have a very useful ‘business plan’.

Message me if you need help or more details.

Add Certainty, Significance and Connection

Customers have six core needs and three very important ones that are top of mind for the customer are certainty, significance and connection.
 
How can you increase certainty that you are the right provider for them? How can you increase certainty you will deliver exactly what they need.
 
This is why testimonials work so well – they have a high degree of certainty. Significance – we all want to feel special, ever since we are a kid.
 
How can you help your customers feel significant? Connection – social media satisfies connection and significance in a big way – how can you connect more with your customers?
 
How can you help them feel connected to you? Share your values, personal stories etc that help them connect to you.

6 Core Needs of Staff and How to Satisfy Them

The following is based on the six core needs made popular by Tony Robbins. In a nutshell, we all strive to fulfill these core needs in either a resourceful way or unresourceful way (not good for us, not good for others). As a result, they are drivers of our actions and can help explain an employee’s actions. When one or more of the core needs aren’t met, negative effects can occur as listed in the table in addition to common problems such as increased sick days, decreased productivity, and increased contribution to a negative workplace culture.

How to use? When you are frustrated by a behaviour, think about whether there is a core need not being met in a resourceful way. Can be many small situations or one big one. You may not always figure it out until you talk to them and notice the wording they use.

CORE NEED DESCRIPTION, the EFFECT, and WAYS to SATISFY it
1. Certainty

Certainty of what is expected of them, the tasks, their future in the company, where the company is going, how they can move up (if they want to), certainty of who to take direction from, certainty about safety, salary, entitlements.

Effect when not satisfied:

– Unmotivated staff that don’t hit targets, don’t seem to be ‘on board’
– Staff looking for other work
– No loyalty, leaves as soon as something better shows up
– No desire to put in extra hours or effort, leave right on the dot
– Bad mouthing the boss or company
– Complaining

Ways to satisfy:

– Clear instructions – clearly articulated, written down, manuals, good training programs
– Regular opportunity to ask questions or hear what is expected, e.g. Weekly or daily production meetings
– Career plan mapped out
– Explain the company vision and mission, have it on display, refer to it, live it
– OH&S procedures clearly explained, documented and followed

2. Variety

Opportunity to do different tasks, break up monotony, take on a new challenge, mix things up a bit, work with different people, customers, locations,
production, services.

Effect when not satisfied:
– Reduced motivation for the job
– Poor performance, mistakes, can’t stay focused and moves around (with or without permission) within the workplace to provide variety
– May actually create problems to create some variety

Ways to satisfy:

– Discuss what they really enjoy doing and want to do more of and workout how this might be achieved
– Mix up the workload. Recognise the signs when it is time to change
– Change work location/division

3. Connection

Feeling connected to teammates, the company. Feeling part of the team. Connected to other divisions. Feeling loved.

Effect when not satisfied:
– Reduced motivation for the job, coming to work
– Increased chance of leaving, increased sick days
– Withdrawn from the team and contributing – Give them a role that requires them to connect with the team

Ways to satisfy:

– Discuss this topic with them
– Don’t force them if they are naturally suited to working independently
– Include them in text, emails, newsletter, company social media, meetings

4. Significance

Feeling important, useful, capable, acknowledged, recognised

Effect when not satisfied:

– Can result in unresourceful methods to achieve it such as criticising others, stealing the limelight, not giving credit where credit is due, sabotaging others

Ways to satisfy:

– Acknowledgement via mention in meetings, newsletters, position title, increased responsibility, certificate/award/gift

5. Growth

Desire to feel we are moving forward, learning, growing in some way. Considered a spiritual need.

Effect when not satisfied:

– Reduced motivation

– May start looking to jump ship

– seek greener pastures

Ways to satisfy:

– Discuss and understand their career plan, their personal goals and then workout with them what might be done within the workplace to help them achieve these if possible

6. Contribution

Second spiritual need within all of us. Desire to contribute to something greater than us.

Effect when not satisfied:

– Reduced motivation
– Reduced willingness to be a team player or belief they can be a team player
– May implement changes without discussion or permission to satisfy the need to contribute
– May start looking to jump ship – seek greener pastures

Ways to satisfy:

– Discuss and understand their career plan, their personal goals and then workout with them what might be done within the workplace to help them achieve these if possible
– Acknowledge their contribution