Comments (0)

By Sandra Holtzman, February 9, 2013 10:10 am

We’re usually so busy trying to get started in marketing that we tend to forget that once we start, we need to continue. What happens if we don’t?

Today’s guest blogger,  Aruna Inalsingh (http://www.animarketingservice.com/) provides some insight into marketing, measurements and meltdowns of the corporate variety.  Aruna is President and Found of Ani Marketing Services Ani Marketing Service, and has years of experience providing strategic marketing solutions for a wide  range of companies, products, and services, starting their new programs and improving their existing ones.

“As a career marketer, one of the most common client requests is for a direct correlation between marketing investments and business revenues.  The reality is that it is indeed hard to quantify direct success from marketing programs.  Although with digital media, it’s getting easier, as you can track the number of followers, visitors, clicks, and online sales– especially if you don’t have any brick and mortar stores.  Furthermore, it is true that marketing takes time, resources, and/or money – ask Walmart’s CFO, Charles Holley!

That being said, here’s a story we like to tell about the value of marketing, which is exemplary of scientific proofs where you cannot prove if something is true, but you can prove if something is not true:
Seiko Watches was founded in 1881.  They were a strong believer in marketing, and with an ongoing commitment to invest in company promotion, within a short amount of time they developed a solid reputation for affordable and reliable watches. Seiko had a monopoly on this market until 1930, when Citizen Watches was established. Citizen wanted to be the Pepsi to the Coca-Cola, if you will. Citizen proceeded to invest as much money in marketing, if not more than Seiko, to achieve a similar brand recognition (and revenue stream). It never happened … until 2008. The global financial crisis in 2008 hit everyone hard. Seiko and Citizen had to make strategic decisions. Seiko decided its brand was strong enough to temporarily sustain itself with a skeletal marketing staff, and Citizens decided to maintain as much of its marketing program as possible, in context of its diminishing budget. In 2010, when Seiko was ready to re-invest in its marketing program, initial research showed that the consumer market thought Seiko had gone out of business and therefore had turned to Citizen as the market leader. It took 2 years of marketing withdrawal to ruin the 127 year old Seiko watch dynasty. Today Citizen has a similar brand and market value to Seiko.”

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

Comments (0)

By Sandra Holtzman, February 2, 2013 9:37 am

These days you’re really lucky if you get two. This is a humorous approach to the magical solutions to the business problems so many clients want and have convinced themselves actually exist (these clients want all three of the big circles).  Clients who are desperate for new business and don’t want to wait.  Clients who are not business savvy. There are plenty of service providers out there who cater to the magical solutions (mind you, they don’t get results, they just cater).

I’m not one of them.

I was just interviewed by a potential client who has a service business.  She wanted half a dozen new clients in two months or less. Someone told her she could achieve this through hiring a resource to fix or improve the SEO on her website.  And maybe moving the website over to WordPress which has a fairly impressive (and free) SEO scheme that comes with websites and blogs that are created there.  The client was all set to click her heels and say “there’s no place like home.”

Then she  met me.  And I presented reality.   Uh oh.  Reality like SEO is part of a larger strategy to get attention.  A strategy which might include blogging, being published and referenced online, doing your own social networking. Next I explained that moving your existing website over to WordPress is not a simple migration process. Sure, you have all the templates, but I explained you still needed to have a designer work on it for you and you need a strategy of how to present your information in the new format (with many more choices of options). Reality like there’s no magic bullet.  And no designer on earth makes Dorothy shoes.  And that maybe, just maybe, her goals were a tad unrealistic.

She really didn’t want to hear this.  Oh she was polite alright but I knew what she was thinking – she couldn’t hide her disbelief that she couldn’t just push one button and make it all happen.

How to separate the magical wishers from the business

So knowing this, I moved on to the deal closer or breaker items that I use to weed out shoppers who want a magical solution as opposed to the real business world which I operate in.  I said I would send along my standard contract (where the client agrees to provide me with the information I need to do my job and also agrees to pay me and I agree to do my job within the time frame and estimate I provide).

And I also said I would charge for my estimate.  It takes time and strategic thinking to figure out how to solve the problem so you can estimate each item that will need to be done – this is called work product. The estimate is part of the solution (or roadmap) to the project.  So I’m working to create the estimate but I also know if I give the person an estimate for free, then I’ve done the hard work of figuring out how to get the results they need. They can then take my estimate and hire someone else (without a strategic brain) to execute it.  This is the second reason I charge for my estimates – to avoid this situation.

A day later, I got a very nice thank you note and was told the prospect wanted to interview lots of other people.  I have likewise replied very politely and wished them the best.

At some point I’m sure you’ve been on each side of this relationship.  No matter what side of the equation you find yourself on, make sure you don’t succumb to the magical thinking mindset.

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

Comments (1)

By Sandra Holtzman, January 26, 2013 8:05 am

There’s a new book, that just came out, called “Significant Business Results…   Ten sales secrets that your competitors know and use!”  The author is Franne McNeal, a serial entrepreneur, business coach, the youngest person ever to be awarded a training contract with the City of Pittsburgh among other things such as restructuring, training and development at such places as PNC Financial Services, and SmithKline Beecham.  She’s a certified Kauffman Foundation FastTrac facilitator, and Adjunct Faculty for the Goldman Sachs 10,000 Small Businesses Initiative. She started her first business while still a student at Princeton University.  I occasionally facilitate with Franne and she is an amazing force.

So why should you care about Franne’s credentials and book?  Well, creating your product is only part of the story of a successful entrepreneur. You then have to get it out the door (or to shameless plug the first chapter in my book, “Lies Startups Tell Themselves to Avoid Marketing” – “ If I build it, they will come”.. I guarantee NOT if you don’t market, which goes hand-in-hand with sales).  Franne tells you how to accomplish this in 10 steps – with exercises and examples sprinkled throughout the book at just the moments you need them to help you get to the next step. Her 10 chapters give you an idea of what you will learn when you read the book (and grow your business if you practice them):

1-      Define Your Target Market
2-      Create a Powerful Offer
3-      Use Testimonials for Social Proof
4-      Generate Unlimited Leads
5-      Create Immediate Sales
6-      Use Scripts to Increase Sales
7-      Create Repeat Business
8-      Double your Referrals
9-      Reverse Risk to Increase Sales
10-   Create Added Value

It’s a great book for your armamentarium – even if you know most of the topics covered, it’s always good to have a refresher.

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

Comments (0)

By Sandra Holtzman, January 19, 2013 8:18 am

If I build it they will come.

This is the title of the first chapter in my book, “Lies Startups Tell Themselves to Avoid Marketing.”  The chapter basically deals with the idea that if you aren’t sitting around waiting for the latest “thing” (fashion, technology, gismo, app etc) to walk through your door and land in your lap, then chances are about 100% that no one else is either.

Here’s a variation on this theme that’s dedicated to fundraising and a key aspect to fundraising that a lot of entrepreneurs and startup businesses fail to recognize.  Or if they recognize it, the concept is so foreign to them that they can’t even get their minds around it.  And that’s the issue of scaling.  When you build your business and business plan, if you are planning to raise money, then building it is not enough. The money won’t come. Why not? Because most startups and entrepreneurs don’t recognize the value of scaling their company –the value to them but more importantly the value  to the investor.

Often the first question an investor will ask is ‘how fast can I get a return on my investment?’ And they don’t mean dollar-for-dollar.  They mean $10 for every dollar.  If you don’t show them plans to scale the company, then you can’t answer that question.  If you can’t give a map (or better yet a spread sheet showing the exact details like timeframe, expenses, projections to profitability, personnel and equipment being brought on), then you’re probably in a lot of trouble.  If I’m investing in your company, why would I want to give you money unless I’m going to see the company grow (“scale”) and give me multiple times back my investment. If you’re a one or two person shop determined to keep it that way, then that just isn’t going to happen. Those kind of companies are called “lifestyle” companies, where the entrepreneur is making a success just for themselves. Big difference (see http://thinktraffic.net/startup-vs-lifestyle-business) .  You may get investors, but it’s that much more difficult. You are more likely going to be eligible for a bank loan than investment.

Some issues around scaling, such as when is the right time to scale and do you scale out or deep are discussed by Geri Stengel in her Ventureneer blog (http://ventureneer.com/vblog/business-plan-nonprofit-growth-planning-scale).  Don’t let the fact that Geri deals with non-profits scare you off – these tips work for profit companies as well.  Other tips can be found on CNN’s blog “Pop Quiz: Is Your Business Scalable?” (http://www.inc.com/karl-and-bill/pop-quiz-is-your-business-scalable.html) .

Important tip to remember:  “If I scale it, they WILL come.”

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

Comments (0)

By Sandra Holtzman, January 12, 2013 10:34 am

Image provided by Shutterstock http://www.shutterstock.com

How to detect if your agency is lying was one of the topics of a recent iMedia post  (http://www.imediaconnection.com/content/33398.asp).  The telltale signs and circumstances are often different for large agencies and the large clients they serve than they are for a small startup.  Money, time and expertise on the part of the entrepreneur are much more limited when hiring a vendor.  So, while the list in the post is informative to read, you, as an entrepreneur and small business owner have to use additional skills and methods to choose an agency or vendor that will eliminate the environment for “lies” to exist in from the get-go.

The bottom line in choosing a vendor to work with is trust your gut.  There are three parts to a good fit. If you feel the chemistry is right between you and the person or people you will be working with, that is 1/3 of the equation. The next 1/3 is that there is good and continuing communication between you and your vendor – neither party is doing all the talking and each person is building on what the other is saying (this is referred to as keeping the communication loop closed).  The final 1/3 of the equation (and at this point if you’ve achieved the first 2/3, this will be a no-brainer) is that your vendor ceases to become a vendor and becomes a partner in that they are just as concerned as you are about your customers, your marketing, your success (yes I know I’m leaving out the part about references and experience in your industry but I think these three qualities often trump the others).

One of the nicest compliments ever paid to me was by Margaret Shumel (http://www.opex-ny.com/) when she was working at Pfizer. She said she liked working with me because I would talk her out of project ideas that I didn’t think would work – without regard for selling more services for myself. I’m in it for the long-term relationship not the quick sale. And you and your vendors should be in it for the same reason.

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

Comments (0)

By Sandra Holtzman, January 5, 2013 9:23 am

Image provided by Shutterstock http://www.shutterstock.com

The transition from analog to digital has enabled the reach and focus of PR and marketing messaging exponentially. These transitions are nicely described by Lucy Siegel (http://bridgebuzz.bridgeny.com/). With these new powers, it’s important to make sure that your storytelling is aligned with your branding and that both have been influenced in some way by your audience (let’s call it customer-focused storytelling). This not only strengthens your story, but your brand as well.

Even the new technology has a new wrinkle, as Janet Falk (http://www.janetlfalk.com/) tells us. It’s crowd sourcing and user-generated content — when companies actively solicit input from target audiences. She provides a familiar example: The 1995 campaign to select the next color of M&Ms is now a contest for user-generated video commercials. Contestants are rewarded with seeing their work displayed on the company website, inevitably shared among a like-minded audience and often voted upon. The grand prize winner gets monetary compensation and digital fame. In the process, consumer packaged goods companies relinquish a measure of control and yield reliability of authoritative sources to the unknown contestants, whose agendas may or may not align with specific corporate goals beyond increasing brand awareness.

The benefits of digital storytelling come with more responsibility, in the form of having to monitor both the effect your story is having, as well as your audiences’ reactions to the story (for instance, bloggers without journalist credentials and audiences with agendas).

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

Comments (0)

By Sandra Holtzman, December 8, 2012 8:12 am

Image provided by Shutterstock http://www.shutterstock.com

Everyone is stressed this holiday season.  The opportunity is ripe for both shoppers and store personnel to be rude and abusive (particularly when stores hire part time or seasonal help who haven’t been properly trained).  But there’s a very simple way to break out of this cycle and turn a potentially bad experience into a memorable one – which is something we all want. Michael Hess has a great post on CBS News Moneywatch about how you say something during the holiday season being crucial to creating a good customer experience.  Here’s one example he gives:

Say this: “Let me help you with that” or “How can I help you?”
Not this: “You need help?”

This is great advice not only for the holidays but every day.  And this practice can be used in writing business documents, such as business plans as well.  For instance,

Don’t say this:  “Our sales goal was to increase business 40% this year but we only made it to 15%”.
Say this:  “We increased business 15% this year and are working towards a 40% sales goal.”

The second phrasing puts a positive spin on the situation. Just as importantly, it tells the reader that you are in control of your business or situation.  The reader, particularly an investor, is going to look more favorably upon this positively stated situation.
In the long run, this kind of speaking can change the way you think towards a more positive outlook in general.

For other examples, check out the link to the blog.

http://www.cbsnews.com/8301-505143_162-57556281/good-service-language-makes-for-happier-holidays/?tag=nl.e857&s_cid=e857

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

Comments (0)

By Sandra Holtzman, December 1, 2012 9:39 am

Images provided by Shutterstock http://www.shutterstock.com

When you’re starting a company you’re going to hear a million “no’s”.  No to your money raising requests, no to giving you referrals, no from referrals that were given to you. The list goes on. But the key is to keep persisting.  Eventually there will be “yeses”.

I have been a certified woman-owned business for many years.  I go to lots of meetings. I meet lots of nice people. But no work.  Even when I was the agency for a division in a Fortune 500 company, I could leverage my certification within the company.  And I tried. More recently when I started work with another Fortune 500 company, I mentioned that I was certified (I already had the work through other channels) and they took my certification credentials.

Most people I know, in many different businesses, gave up on certification  because it was too time consuming.  They went on with their businesses.  I keep plugging.  And two weeks ago it paid off.  A “prime” contractor (that is the company who actually gets the contract – usually a larger company) contacted me and wanted Holtzman Communications to work on a piece of business that they had obtained with the City.  They actually went to the certified data base and sourced me. Along with others but that’s fine.  Suddenly, all my years of persistence and staying on lists etc. is starting to pay off.

It’s never been tougher  for start-up businesses looking for connections, work, and especially cash.  Lots of people are going to tell you no, and processes may put you off.  But if you have a good product or service, then you just keep going because you will prevail. But you have to believe in yourself and have all the properties above. In a good way of course.

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

Comments (0)

By Sandra Holtzman, November 24, 2012 8:22 am

If your business or personal belongings or both suffered damages due to Hurricane Sandy first, my heart goes out to you.  I only lost electric and heat and hot water for about 8 days and compared to others it was merely a major annoyance.  A friend on Staten Island who is a florist, lost two cars and had his shop completely flooded out.  He so far has received a standard (I’m told) check from FEMA for $2,400 which, he tells me, barely makes a dent in his damage expenses.  He’s still arguing with his insurance company about his claims. I expect that, unfortunately that may be the case for many people.

Below is a list of hopefully helpful resources.  The NYC.GOV/311 gives a 360 on what’s happening and what’s available.  Below that are key contacts that should be helpful.  And lastly, are two links specifically related to insurance issues due to the storm.

For general information the site below is a general city website that offers a lot of valuable information.

Nyc.gov/311
All open 7 days 8am-8 pm

NYC Restoration centers
Bronx  / Throgs Neck — St. Francis Ze Chantal  190 Hollywood Avenue, 10465  (Mon-Fri only 8 am -8pm)
Red Hook office – Coffey Park 85 Richards St. Bklyn 11231
Gravesend – SSA Building 10 Bouck Ct. 11223
Fort Tilden – 415 State Street, Across from St. Geniveves Church, Queens 11697
Far Rockaway – 10-01 Beach 20th St., 11691
Arverne – Shorefront B & C, 6820 Rockaway Beach Blvd, 11692
Staten Island – 1976 Hyland Blvd. 10306

FEMA Recovery Support
1-800-621 FEMA (3362)
http://www.disasterassistance.gov/
http://www.fema.gov/apply-assistance

Nassau County OEM
1-888-684-4274

American Red Cross
1-800-733-2767

LIPA
1-800-490-0075
1-631-755-6900

The link below describes the insurance issues around damages due to the hurricane.  It seems insurance deductibles won’t have to be paid – read more…  http://www.nydailynews.com/news/national/ny-homeowners-save-storm-related-insurance-cost-article-1.1195254

For people who have been flooded most are not covered by general insurance. However, there might be options…this link is put out by lawyers who are representing people who were flooded.  http://www.napolibern.com/Injury-News-Blog/2012/November/Superstorm-Sandy-Flood-Damage-Not-Covered-by-Hom.aspx

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

Comments (0)

By Sandra Holtzman, November 17, 2012 8:11 am

The two shining examples of running with the pack come from the pharma world (just look at all those ads with happy smiling faces…the only thing that differentiates the ad and product category is the demographic of the happy smiling face).

A short while back, I did some primary research into about 50 law firms in the metro NY area – each firm had about 60 attorneys.  Almost half the firms I looked at, had bought the exact same website template – or one so close that differentiation was essentially non-existent.  And that’s before I got to the messaging – which was almost identical. The graphics were equally ho-hum.

As many of you have figured out by now, I’m a crusader for customer-focused market research and marketing.  Almost all legal websites talk about what’s important to the law firm and NOT what’s important to the potential client. It’s all about features and the benefits are almost never there.  Well, chest-beating does wonders for the ego, but does it bring in business?  In this environment, it doesn’t.  With so many me-toos (and very cheap off-shore solutions knocking on your customers’ doors), the only way to differentiate yourself from a myriad of other lawyers and law firms is to do primary research – that’s right – ask your customers’ what they want in a lawyer or law firm.  Listen to their answers.  And only then, with a trusted marketing or PR resource, should you start your website, and other messaging.

Fashion falls into its own category however the same rules of differentiation apply. Why look like everyone else when you can make yourself and your brand just as memorable as the product you’re selling?

It’s such a simple solution that it’s a wonder no one does it.  Of course, the result will separate you from the pack. Which is what you want. Because when you stand out, business finds its way to your door. However, standing out like this takes courage.  Every single company that has used customer-focused market research (my methodology is called Rapid Development http://www.holtzmancom.com/Rade/rade.php and the market research session itself is called OpenMind® http://www.holtzmancom.com/teamwork_openmind.php has had remarkable results. From Fortune 500 clients  to startups to the sole practitioner – in every sector. From pharma companies, to nano-tech companies to a Rabbi (yes a Rabbi  http://www.rabbibleefeld.com/).   Oh yes, attorneys and law firms as well.

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.