Networking & Community – Page 2 – Career Life Institute

5 Secrets to Marketing Magic

"…Because its purpose is to create a customer, business has two—and only two functions: Marketing and innovation. Marketing and innovation produce results, all the rest are costs." Peter Drucker

1. Understand Your Product

If you can’t state it, your customers won’t see, understand, or want it

What are you REALLY selling?
You must be able to articulate this is a way that makes others want to buy from you.
Features vs Benefits
Always focus attention on the benefit to your customer as a result of using your product or service.
Unique Selling Proposition/Competitive Advantage
What makes you/your product distinctively different?

2. Have a Marketing Plan

Whatever marketing plan you intend to roll out, test first to measure your success probability and to reduce the risk of failure. Test prices. . .Test product. . .Test headlines. . .Test everything. Have a diversified effort and then continue to test EVERYTHING. Some areas to consider:

Public Relations
Publicity
Direct Mail
Personal Selling
Trade Shows/Industry Participation
Newsletters
Specialty Items
Articles, Books, eBooks & eProducts
Speeches, Seminars, Workshops
Referrals
Networking
Ads – newspapers, signs, flyers, radio, TV, Yellow Pages, etc.
Thank you notes & gifts
Coupons, Special Offers, etc.
Websites, email signatures, etc.

3. Understand Your Customer

How do you create real value? By understanding what's important to your customer or client…and then providing it

Who is your “ideal” client?
Ask yourself:
"What do I know about them, their buying/spending habits?"
"Where would my customer look for me?" Then make sure you put "yourself" (your coupons, advertisements, website address, etc.) in the places where they can find you.
What do your clients need? How can you find out?
Ask your clients:
"How can I help you?"
"How can I make it easy for you to buy from me?"
And of course: "What else?" (do you want, need, wish to tell me…)

4. Value Existing Customers

Follow their needs
You can use a simple data base to track customer buying patterns as well as the effectiveness of your marketing plan. Determine the "lifetime" value of your customers and clients, and continue to find ways to keep them loyal by providing what they want and need.
Special offers/preferential treatment
Existing customers have already made a commitment (they've spent money with you), don't reserve your “specials” just for new customers – reward the loyal (existing) ones, too. It's much easier and more cost effective to sell to existing customers than to try to find new ones. Surprise and delight your existing customers by giving them "freebies" or added value from time to time.

5. Collaborative Marketing

Networking

Networking is really relationship building. When you want to expand your market, an effective way to have instant credibility is to use the influence of someone who is well respected. Remember to provide value, not only in the product or service you are offering to the "new" network, but also to the person who is introducing you to their network.

Host/Beneficiary Relationship
Consider who you know that you could "team up with". People with complimentary businesses (those who market to similar customers) provide a great non-competitive way to expand your own customer base. (It works the other way, too!) By the way, have you ever asked your suppliers or vendors for help in growing your business? They have an interest in keeping you in business, too.
Referrals
Remind your customers that your business grows through their referrals. And then, make sure you thank and give value back to those who are willing to share their satisfaction of your services with others.

What makes some businesses more successful in the marketplace? They continue to explore new ways to bring in business. Remember what marketing guru Jay Abraham has to say about your marketing plan:

When you limit your business to doing things the same way every other competitor of yours does it, you can only produce modest, incremental gains at best.

The Art of Networking

Networking is a proven strategy for building your career, your business and your credibility. Experienced business people know that anything is possible through networking. Because it is a very creative process, it’s one of the easiest and most effective ways to market yourself (and your business as a successful entrepreneur).

The key to networking is cultivating relationships and sharing ideas, information and resources. This is a two-step and two-way process: the first part is to let people know what you do and why they should come to you to do business. Learning how to “toot your own horn” – sharing your expertise and what you offer – in a clear, assertive way is essential. The second part is to listen to what others have to share –their area of expertise and the products and services they have to offer. Your intent should always be to set up a “win-win” situation where all parties benefit from the exchange, whether immediately or sometime in the future.

In setting up your two-way street, the universal law of giving, as referred to by Deepak Chopra in his Seven Spiritual Laws of Success, can be seen in action through effective networking. “The universe operates through dynamic exchange . . . giving and receiving are different aspects of the flow of energy. In our willingness to give that which we seek, we keep the abundance of the universe circulating in our lives.”

At Business Connections (a local County-wide networking group of women business owners and business-owners marketing to women), members are given the opportunity to participate in “30-Second Spots,” at every meeting. This is an opportunity to present yourself and what you have to offer through your business in a very concise, direct way. Not only do you benefit from hearing other members give their promotional spot, each time you do your own 30-Second Spot you improve with practice, practice, practice.

NAFE, the National Association for Female Executives, a national networking association, says the “two key words for successful networking are planning and personal.” That means planning for the results you want, and making contacts for professional and personal gain. Networking has to be planned to be effective – it doesn’t just happen – and quality networking only happens when supportive personal relationships are built.

In reality, networking (relationship building) is a 24-hour-a-day process. When you are consciously looking to expand your network, you will be most effective when you are focusing on people who already have the results you want, as well as paying attention to the formal and informal networks you can join.

Remember that networking itself may not provide immediate benefits. It may take years to see the results of your networking efforts, or you could be pleasantly surprised at any moment by an important phone call from someone you recently connected with. The timing is always less important than the relationship

So what are the important steps to creating a warmly successful networking relationship? First, take time to prepare for your upcoming meetings and events. Realize every event is an opportunity to network. You will always get more of what you are focused on, so make the most of every group situation, whether it is a familiar group you've been meeting with for years, or a totally new group you are walking into for the first time.

It's also important to remember the number one basic networking principle: we are all equal. Whether you are currently ‘in transition’ or the CEO of an expanding business, you have something of value to share with others. Make sure your “attitude is right” – that you are excited about your opportunity to meet new people, and then be open to the whatever shows up. In a formal setting or a business networking event, bring your most current promotional materials to share.

Even in an informal setting it's good to have extra business cards with you at all times. You never know where your next best lead is going to come from, it could be in a coffee shop or on a bus, or even at your son's baseball game.

So, take the time to develop your “art of networking,” and realize it’s an organic and creative process. Each of us has wonderfully unique gifts to share with others. Move beyond your shyness and take full advantage of all the networking opportunities that come your way–opportunities to promote yourself and your business, but most importantly, the opportunity to build relationships of value.

Network Trends

In a recent NAFE survey they found some interesting trends. Women who first came to join the organization were often just starting out in business or in their careers, and joined because they wanted help in getting started, so they were seeking the knowledge of those who had already succeeded.

After a few years, many of them "dropped out" of membership, actively pursuing their professions, building their businesses, and raising their families. Then, once the growth, development and acquisition phases were over, many of them came back into membership again as mature, successful business and career women. The focus this time was in wanting to give back to the younger ones who were just starting out. Now that's networking come full circle.

Did you notice, though, that the new and the experienced are taken care of, but the women in the middle – the ones actually making it all happen – are the ones left out? During a recent Roundtable session, one of our participants expressed how difficult it can be to remain motivated and fresh as you grow beyond the start-up issues into a mature business. This is where Mastermind Groups, Advisory Boards, Trade Organizations and Creative Alliances can make a huge difference. Especially when the members have a similar maturity level (in terms of their business) and diverse backgrounds.

Genius ideas come from "mixed metaphor" thinking and cross-platform brainstorming. Considering how someone in a different business or field might handle a situation will give you new ideas for your own business. As you begin to build your business, be on the lookout for those formal and informal opportunities to begin to create your own supportive team of "expert" thinkers.

_________Editor's Note________________
You can join our Women Entrepreneurs Roundtable for the price of a long distance phone call. Twice each month women from the US and Canada gather for an hour on the telephone to discuss issues relevant to women in business.
©2000 Katie Darden, Career Life Institute