No Accounting for Some People

Most advertising and marketing seems to talk to itself, with companies touting things only of interest to themselves.

For example, I recently had a meeting with a business owner who was complaining about the time he’d wasted that morning listening to a presentation/sales pitch from an accounting firm that wanted his business. He’d seen them as a favor for a friend of a friend, and was regretting his charity.

First, the majority of the presentation was a PowerPoint, the best meeting killer around. (Honestly, have you ever been impressed with a PowerPoint presentation?)

Second, the presentation was loaded only with facts of interest only to the accounting firm: how long it had been in business. How many partners it had. The certifications of each. And on and on.

Has anyone ever said, “My accounting firm must have at least 20 years of experience”?

My current accountant’s sales pitch was all of five minutes. He asked me a few questions without ever talking about himself. He learned that I was most concerned with putting money away for retirement. “What if,” he asked me, “I could show you how to put more money away for retirement without increasing your out-of-pocket expenses, with everything paid for with tax savings?”

“How could I do that?”

In three minutes he described a different way of setting up my business — very legal, common, conservative and above board, by the by — that would save me thousands of dollars a year in taxes, all of which could be allocated for retirement. I’d still have the same amount of money going into my bank account every month.

He set it up, and it worked exactly as he said it would. That was in late 1999, and he’s still my accountant. (In fact, he’s since moved several states away, but he keeps up on my state’s regulations because he has several clients here.)

I happen to know how many partners his firm has, because his firm is just him. How long has he been in business? What are his certifications? To this day I still have no idea.

If he’s ever done a PowerPoint for himself, I’ve never seen it. But I’ve recommended him to several other people, and they all switched their business to him.

Does your marketing spew scattershot information that impresses no one but yourself? Or does it identify your prospects’ real needs and show how you can fulfill those needs?

7 Marketing Questions to Survive a Down Economy

With businesses everywhere scrambling to maintain their customer base, some basics can occasionally be forgotten amidst panic and uncertainty. So let’s get back to basics.

Some studies estimate that the typical American is subjected to more than 30,000 marketing hits a year, or more than 80 hits a day. Depending on where one lives, that estimate could be much higher. With that kind of clutter, how can businesses make their message heard? By asking yourself a few simple questions about your business.

1. Are we passionate about our product or service? Without the real belief and passion that your product is superior, how can you convince others that it is? Your passion and commitment—or the lack thereof—will come through, and your customers will notice.

2. Are we consistent with marketing and promotions? Successful marketing requires consistency. Fresh, memorable advertising; newsletters that run like clockwork; regular direct marketing and follow-up. Do these things haphazardly at your peril.

3. Do we have a clear benefit? Marketing 101, but sometimes this basic idea is forgotten. You have to sell something your customers want. Find out what they want through research. Should your company introduce a new product or service:

• Because it’s easy to make?
• To use up old inventory?
• Because your customers want it?

The best answer should be clear.

4. Are we communicating our benefits? Getting excited about your product’s latest super-cool features often overshadows the most important thing: telling the customer why those features are so cool. Why do those features matter?

5. What is our position in the market? Unless you invent a unique new paradigm for products and services, your market is already crowded with competitors. How does your company compare? Don’t tug on Superman’s cape, and don’t face off against your biggest competitor on its own turf. Find your niche, and exploit it shamelessly. If your competitor is selling the same benefits for half the price, you’re still doomed.

6. How many more marketing techniques can we employ? Creative marketing strategies are limited only by the imagination. Basics such as the Yellow Pages, print, pay-per-click ads, direct mail, etc. are all designed to put you in front of your customer’s eyes and make a sale. Going beyond the basics, however, can be effective and lucrative. How many other strategies can you conceive? Social media, viral marketing, other new technologies bring new possible avenues to spread your message.

7. Do our marketing materials make the most powerful possible appeal? Cheap, cobbled-together marketing materials are the kiss of death. Everything you put in customers’ hands—brochure, direct mail package, web site—says volumes about your company. Strong visuals and clean, compelling copy are worth the cost.

Crazy for Kindle?

Are you psyched about Amazon’s Kindle 2 press conference yesterday? Or did you even notice?

Whether you’re enamored, intrigued or underwhelmed by the device, the Kindle illustrates the fact that people are still spending money—where they find value.

When I told my husband about the upcoming release of Kindle 2.0, he suggested that Amazon would have to drop the price. No one would pay $359 in this economy—certainly not enough to take the device mainstream.

He’s probably right. But buyers are still lining up.

After Oprah raved about her device last October, Kindles quickly sold out. The current backorder list doesn’t include those who have been anxiously awaiting the second-generation device.

Most owners of the original Kindle love their device, and the Kindle 2 offers some nice improvements, including:

• More storage
• Longer battery life
• Text-to-speech capability

As a result, people are doling out the cash.

History shows that recessions still hold lucrative opportunities for those who offer creative, innovative ways to fill needs. (Hello, iPod!) Do you know what really distinguishes your business from the competition? And do your marketing messages communicate this value?

Never Ever Assume

Most acquaintances know that I’m a tea drinker. Some of my friends even call me a tea snob. Those in my inner circle describe me as, well, obsessed. (I’m currently at 26 teapots and counting, but that’s another story.)

When my aunt suggested we visit a tea plantation, my heart did a little dance of joy. It wasn’t exactly like finding the fifth golden ticket, but pretty close in my book.

The next morning, my mother told me we were visiting the plantation that day. So soon? I was psyched.

When my aunt arrived, however, she had decided that I would have more fun visiting an aboriginal cultural center than the tea plantation. I wouldn’t enjoy tramping around a mountain.

Mind you, my family’s hospitality is much appreciated. Still, I couldn’t help but think, “How can you possibly tell me what I would prefer doing?”

How many times have we made similar assumptions in our marketing copy? (Yes, myself included.)

I can’t count the number of times marketing directors and business owners have told me they know exactly what their prospects want to know. Based on… ? It usually comes down to a guessing game.

As we buckle down for business development in 2009, let’s stop making assumptions and start communicating with our clients and prospects.

Why not ask them, point-blank, what they’d like to know?

Chances are, they’ll probably pay more attention once we drop the monologue and start answering their questions.

A Cold Splash of Reality

We arrived at my aunt’s house near Taichung shortly after midnight last Wednesday – roughly 28 hours after a car service picked up my mother and me in Midtown Manhattan. I slept very little on either of our two flights and wanted nothing more than to crawl into bed.

Mom pointed me to the bathroom to wash up and brush my teeth. Along with my toiletries, I grabbed nightclothes. My aunt saw this and went into the bathroom to start a bath.

A warning bell went off.

Yes, I was a foreigner, but I was still a healthy, active adult. Why would bathing require assistance?