Psychological Marketing Insights

Analyzing the Psychology of Business, Marketing, and Sales ...

June, 2009

 

 

Is your map supposed to look different than mine?

Thursday, June 25th, 2009

Imagine that you are with a large group of people that has been dropped into the middle of no where.  Fortunately, you each have a map so that you can figure out how to get back to civilization.  Unfortunately, each map is different, and there is no way of telling which map is the closest to being correct.

Welcome to life, my friend.

When Matt and I get frustrated at people we try to remind each other that they are looking at a different “map of the world” than us.  Each experience in their life has etched a spot into their map.  The core beliefs they are taught as a child have influenced this map.  Their successes, their failures, the happy times, and the sad times.

So, any time they are presented with a situation, they make decisions based upon their map of the world, whether that map is the correct map or not.  Like the abused girl who grows up to marry an abusive husband.  Some say she should know better.  Others realize that she knows no different.  As far as she is concerned, that is all that she has ever known.  It is her comfort zone.

In business we must realize that each of our prospects and customers come to us with a different map of the world and we must decipher the legend for their map if we are to truly communicate with them on their level.  In sales training this might be presented as DISC or another personality type test.  However, a person’s map of the world is so much more than a personality type.

And when differences come up, we must remember that other’s maps do not match ours.  They simply look at the world in a different way…and maybe remembering that can help us to provide better service to those around us.

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Why Walking Can Help Your Business…

Wednesday, June 24th, 2009

My wife and I discuss business a lot.  After all, we work together.  One of the things we try to do is take walks or run together and discuss our business and other people’s business.

Why?

Because it gives us time for reflection, goal setting, planning, and idea generation.  It helps us reflect on what is going right, and what changes we need to make.

It also gives us time to really think about other opportunities out there.  It gives us a different perspective.

This perspective is valuable because no matter how smart you are, you can’t possibly see everything.  You need different viewpoints, different angles, and people to challenge your line of thinking.

So what can you learn from this?  I highly recommend that you take time and talk to someone who knows your business and can give you meaningful feedback.  The hour or so we take has turned out to be some of the most rewarding and useful time we can spend, because it gives us time to think about things and be away from everything else.

No email checking, no phone calls, no projects — just pure talking or silence.

Try it for a few days and if you don’t have some different ideas for your business, or can’t see problems or gain insight I’d be surprised.

-Matt

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Marketing during a recession, possible or not?

Friday, June 19th, 2009

Tightening the belt.

Cutting the fat.

Battening down the hatches.

Any way you put it, our nation has been trying to survive this stormy time and come out on the other side with a semblance of self-respect left.  Now, it is hard enough for the average person to survive right now just putting in the hours at the office and hoping not to make anyone mad enough to get put on the next layoff list.  But, for those of us who own our businesses, this time can be downright dangerous and incredibly taxing on us.

So, how can we still continue to market when we are merely trying to survive to the next electric bill or mortgage payment?  Is it even possible?  Should we do what everyone else seems to be doing and just duck into the nearest foxhole until 2010?  After all, the best offense is a good defense, right?  Well, I am here to say that is not always the case, and especially not right now.  Now is the time to go on the offense.

Think of it like this.  In the past almost every business out there was doing marketing.  Which means that for every postcard you sent out, your customer was probably receiving another 25 from various companies in the area, some your direct competitors and some in other industries.  But all competing for your customer’s time, money, and energy.  It was very easy to get lost in all of the noise.

But now?  Well, now people are doing away with marketing all together.  I have had so many people tell me, “We have decided that we can’t afford to do any marketing right now.  Please get back to us in 2010.”  I really wanted to grab them by the shoulders and shake some sense into them.  Tell them that they were actually doing the exact opposite of what they should be doing.  But honestly, it wasn’t worth my energy.  Those types of people won’t make good customers anyway, because they will bail at the first sign of trouble.

So, if all of these people are doing away with marketing you should do the same, right?  NO!  If your friends told you to jump off a bridge would you do that, too?

Ok, seriously, though.  How can you afford to market in this economy?  You go where you can make the most money.  That means you must, I mean MUST look at your list.  If you are going to cut the fat, this is where you should be doing it.  Which customers are costing you more money than they are bringing you?  This could be in product, service calls, energy, time, etc.  You know the ones that I’m talking about.  For every $20 worth of product or service you sell them you are spending 3-4 hours on the phone or email with them trying to explain how to use it and how not to use it.  If you only make $10 an hour, which I hope is not the case, you are already $20 in the hole with them.  So get rid of them.  You can’t afford to keep them.

Next, look at who is bringing you the most money.  This could be through direct purchases or through referrals.  Either way, these are the ones that you can’t afford to lose.  These are the people you are going to spend extra to keep.  Make these people feel like the gold they are, without seeming desperate.  Thank you cards, touching base emails, phone calls to mention the new dress shipment you got in that is just their style…and by the way you saved back their size.  And then when they do purchase or refer again, show them just how much you appreciate them again.  A night out for two.  Flowers to their wife on their behalf.   Food of some sort (one of my favorites).  You get the picture.

Now, I know what you are saying, “But I can’t afford that!”  Let me tell you something.  You can’t afford not to.  Because as I’ve said before, someone is courting your customer besides you and if you want to be the one with the date to the dance you had better step it up.

Let me also state one other thing.  If you cannot afford to “market” and you are losing money then let me say this.  It isn’t being done correctly.  Marketing should be a trackable, quantifiable, activity that produces a positive return on investment.

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How to alienate your prospects in 10 seconds or less…

Tuesday, June 9th, 2009

So I was at a networking meeting a while back doing my due diligence of face time for the masses when it happened.  I had just finished filling up my coffee when I was cornered by a gentleman who has been trying to get me to use his services for quite some time.  What he has not realized yet is that 1) I am not in his target market and 2) if I were in his target market he has done more to send me running to his competition than to get me to open up my wallet to him.

Now, on this particular day when he cornered me by the coffee stand I was feeling quite energetic despite the early hour.  It was a beautiful day and I was seeing everything in a positive light.  However, by the end of my interaction with him I found myself drained and ready to be done with networking for the day.

What did he do that caused such a drastic change in my mood and outlook?

Well, I pondered that very thing on my way to my next meeting for the day and I came up with 3 items.

1)  The first words out of his mouth were a sales pitch.  And not just any sales pitch, but the same sales pitch that he has spouted on our 3 previous interactions.

2)  He talked incessantly about himself for 5 minutes then flippantly asked how I had been.

3) Before I even had a chance to respond he launched into a long winded spout on a political topic that I happen to feel quite strongly about.

Now, you may be asking what is wrong with any of what he did.  If so, please refer to the headline of this post before proceeding.

Networking 101 says that the best way to build a relationship with a potential prospect is not to launch into your sales pitch the moment you corner them.  Think of it like the dating game.

How far do you think a guy is going to get if the moment he gets into a conversation with a girl he starts telling her how much she needs to go out on a date with him?  Considering that he would probably come across as desperate, not very far. That is because we as humans tend to hate being told what we should be doing.  In fact, if we have someone tell us what we should be doing, our tendency is to do the exact opposite.  However, if there is something that is difficult for us to achieve we are more likely to want it.  That is where the dating technique of playing hard to get came from and it works great in the networking arena as well.

Next, we as humans tend to love nothing more than talking about ourselves and yes, I realize that is exactly what he was doing, so what was wrong with that?  Well, the problem was that he was trying to prospect me, not the other way.  So he should have been asking me questions and getting me engaged in the conversation.  One of the keys to sales is to get the prospect talking about themselves because they will begin to slowly give you the information that you need in order to sell them.  In addition, if they are talking about themselves they will probably walk away from your conversation saying to themselves, “Wow, that was a really great discussion.  I really enjoyed talking to them.”   This is because it fulfills a fundamental human need to be heard and understood.

Finally, he brought up a very controversial political topic without first knowing my views.  Deals have been won and lost because of this very thing.  There is a reason that your mother always told you not to talk about politics and religion when company was over.  These topics tend to be very polarizing and if you are on the opposite sides of the issue can potentially do a lot of harm to your developing relationship.  Specifically in this instance, the gentleman was talking about something that he very obviously knew little about which caused him to look ignorant, not a good thing to have a potential prospect or referral partner think about you.

In this short interaction the gentleman succeeded in causing me to change my neutral opinion of him to a negative one, ensuring that I will probably avoid him at future meetings.  And will I send him business?  Probably not, as I have no guarantee that he will treat the people I send to him any differently than he just treated me.

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Hypnosis and Marketing. How we are often asleep.

Thursday, June 4th, 2009

I live in a small suburb of Indianapolis  and the other day I had a small meeting in the town center.  I was speaking with someone and she recommended I check out a place.  I had to ask her where this location was several times to understand where she was talking about.  Now it wasn’t that she was giving me bad directions, its just that I wasn’t sure where everything was located at.

What is the lesson we can learn from this  in our businesses?  Usually no matter how many times we think we have displayed our message clearly and correctly, many times people do not even see it.  I had driven past this location probably 100 times, and once I arrived there I couldn’t believe I hadn’t noticed it earlier.  But the thing is, I had noticed it – but it had not imprinted in my brain enough to where it was instant recall.

This speaks to how valuable it is to follow-up with your unconvereted leads or prospects in a business.  Yes, we think our prospects are thinking of us, but they aren’t.  They are worried about their own business.  So don’t make this mistake, or your prospects and customers might get lost and not know where you are.

-Matt

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