7 Tips for a Highly Effective Elevator Pitch

If you’re a business owner, you should be ready to deliver your company’s elevator pitch at a moment’s notice but can it ever be counter-productive? The problem is that too often, an elevator pitch feels more like a windup into a long monolog with detailed descriptions of every product and service your company provides and why each is amazing. We’ve all been at the other end of this kind of pitch and as a result, we’ve developed personal exit strategies. The most effective one I’ve found is looking off in the distance and identifying someone I need to say hello to and quickly moving on.

Elevator Pitch Tips

The following seven habits will help you avoid elevator pitch overload:

Remember your vision. Why did you start your company and what are you really excited about? If you don’t know your “why” it’s going to be very difficult to motivate anyone else to get excited about your company. And if money is your key driver, your pitch will come across as a sales pitch. Think about the last time you were on the receiving end of this type of pitch. How receptive were you?

Get familiar with your ideal client. Instead of thinking of your elevator pitch as a one size fits all, try and imagine the one person who would be a great fit for what you offer. Who are they?  What do they care about? What is their pain point? When you understand your ideal client and what motivates them, you will gain insight and empathy for them which will make it easier to identify them. So when you find yourself speaking to that ideal client, your pitch will feel like the very thing they’ve been looking for.

Understand your value proposition. What makes your company unique? Are you the Uber of cookie dough? The Martha Stewart of auto parts? Once you understand your value proposition, embrace it and own it.

Get comfortable with rejection. The goal of a great elevator pitch to is identity your ideal client so when your pitch doesn’t connect with the listener, consider it a gift. You’ve just saved yourself weeks or maybe even months, chasing after the wrong client who is too polite to tell you that they don’t want what you have to offer.

Keep it short and keep it real. In our 24/7 social media culture, one minute is too long for an elevator pitch so keep it to 30 seconds and leave out any industry jargon or acronyms. Use real language that tells someone what you do in a way that piques their curiosity so they’ll want to know more. If you get a blank stare, go back to #4.

Think of your pitch as the start of a conversation. When you’ve connected with a potential customer, they will visibly nod and start asking questions. This is a really good thing!

Practice! It’s natural for a new pitch to feel awkward at first so the key is to practice it until it feels natural and meaningful to you. Then breathe and smile. Your elevator pitch will come across much better when you’re relaxed.

I’ve spent a decade crafting my elevator pitch which is why it now seems like second nature to answer the question, what do you do? with: “I align vision with relevant messaging that cuts through the noise.” If I don’t have you at hello, I smile and ask what you do. After all, someone I know could be looking for the very thing your company offers.

Source: http://bit.ly/2cW1Ah2

5 reasons to say "No!" to marketing

Over the course of my 15-year marketing career, I have evaluated my fair share of marketing ideas. Many of these ideas have come from co-workers, managers, and owners. I have had requests for everything from videos to exhibiting at trade shows in Las Vegas to creating printed brochures and more.

Early in my career, I didn't spend much time evaluating their requests, rather, I would add them to my to-do list and get working on them. As I gained experience, I also got smarter, and I soon became critical of internal marketing requests.

Now, when approached by someone who says "We need to attend the annual tech conference in Seattle the first week of October" the first question I ask is "What is your business case?".

I can't recall a single time when someone has been able to provide a reasonable business case. Most of the time I get one sentence responses something to the tune of:

"We need to do this because our competition is doing it."
"We have always done it this way."
"I can't explain it - just trust me."
"I'm the boss - just do it."

I usually end up categorizing these requests as RAM - Random Acts of Marketing. Sometimes they pay off and other times not so much. None of them lead to long-term growth.

So, here are five reasons to say NO! to marketing:

1. The idea has little impact on the bottom line.

If you think the issue with marketing is that only 50% of your efforts pay off but you don't know what 50% is paying off then you're doing it wrong. Marketing efforts can be attributed to bottom line results when benchmarks are put in place and campaigns tracked correctly. If you can't draw the path from a marketing initiative to sales then just say "No!".

2. The idea is not part of the company strategy.

Small businesses serious about growing will have a strategy. Most plans will outline the target consumer of the main products and services key to a company's success. If the marketing idea does not focus on your primary audience then just say "No!".

3. Your customers expect you to do it.

There is limited time and money in every department - marketing is no different. It would be nice to be able to do every initiative, but it doesn't work that way. Choices need to be made every day. Where is marketing time and money best spent? If the only reason you are running a campaign is your customers expect it, then just say "No!". Only consider the campaign if it is strategic.

4. The competition is doing it.

If you want to be a leader in your industry, then be just that - a leader. Base your marketing on a sound strategy, defined objectives, and continuous measurement. If the main reason to go through with a marketing campaign is your competitor is doing it, then just say "No!". Second place follows. First place leads.

5. You have always done it that way.

Executing a marketing campaign simply because you have done it before is not a reason. There are variables constantly changing that impact the growth of business. What worked at one time may no longer work today. Marketing is ever-changing, and so marketers and businesses must adapt. If you're executing a marketing campaign for the sake of tradition then just say "No!".

The growth of a small business requires marketers to be strategic and to say "No!" is an important part. However, always saying "No!" and never saying "Yes!" will get you nowhere.

As mentioned, marketers of small businesses have limited time and resources. Removing the "noise" that doesn't contribute to the growth of a company leaves a lot more time to focus on marketing initiatives that do have an impact on business.

 Source: http://exm.nr/1qPK5Wm

The 10 Most Destructive Lies Business Owners Tell Themselves

We talk to ourselves constantly. Okay, maybe not literally, but the psychological phenomenon of self-talk is real and it can have a major bearing on your life, moods and even your professional performance. Self-talk can manifest as reactions to certain events and situations. For example, you might think “that was a dumb mistake” or “this is going to be awesome,” and these thoughts generally have an effect on how you perceive the event in question. They can also manifest as assumptions, in the short-term or long-term, about different aspects of your life and business.

There’s no question that business owners lie to themselves, often knowingly, but some lies are innocuous. Others, like these 10, are destructive and should be avoided at all costs.

Lies Business Owners Tell

My Customers are Going to Love This

This lie stems from your own personal biases. You came up with the idea for your business (or product), so, of course, you’re going to love it! That doesn’t mean everyone else in your target audience is going to, and assuming that’s the case may set you up for failure. If you don’t have any objective data backing this statement, you’re lying to yourself.

Everything Will Work Out

It won’t. Not if you allow things to continue as they are. There’s this persistent myth that businesses succeed because they had a good idea and a good system. Then they just waited for everything else to fall in place. This isn’t true. Successful businesses have to experiment, tinker, and evolve constantly. You have to put in the effort if you want to succeed.

I Can Always Change This Later

This can be true, depending on the context, but it’s not a line of thinking you want to apply to many areas of your business. Assuming you’ll be able to change something later gives you a lower threshold for quality, meaning you’ll start off with a weaker strategy. And thanks to procrastination, you’ll probably end up never changing it anyway. Start strong if you want to finish strong.

I Don’t Have to Worry About This Yet

There are many reasons for procrastination, and some of them are actually pretty good. However, when you delay a task, the indefiniteness of “I’ll worry about that later” can set you up for a perpetual cycle of delay. Instead, if you don’t have time to do something, either schedule a concrete time to do it in the future or delegate it to someone else.

I Have to Do This Myself

Entrepreneurs love to get their hands dirty, and many take it as a point of pride. You might convince yourself that you’re the only one with the skill set or experience to handle a certain task, or that if you don’t do this yourself, you’ll lose control of your business. However, it’s unlikely that these things are true. Learn to let go, and trust your teammates to help you out.

I Don’t Have Time

Entrepreneurship is demanding. It takes a heavy investment of time and effort to see any progress, so many business owners end up putting off or ignoring other aspects of their life — like family, friends and leisure time. Trust me, you need to make time for these things, or you’ll regret it later.

I Just Have to Work Harder

Working harder isn’t always the best approach, just like hitting your head against a brick wall with more force isn’t going to help you tear it down. Instead, opt for smarter, more innovative solutions to your problems. Putting in more hours with a “brute force” style will leave you burned out and frustrated.

This Could Never Work

This lie often stems from preconceived notions about different strategies. You might hear an idea for the first time and immediately write it off as impractical or useless, or you might be presented with a strategy that didn’t work out well for you in the past and assume it could never work out. It’s important to be open to new ideas, especially since many strategies can be feasible as long as you use the right approach.

All I Need Is . . . . . 

Businesses are ridiculously complicated, and even to the most seasoned, successful entrepreneurs in the world, they’re somewhat unpredictable. There are too many variables for you to definitively boil down any problem to a single factor. If you give yourself this problem-solving tunnel vision, you could wind up ignoring the factors that are actually responsible for your predicament. Know that every problem is complex, and no one fix will solve everything.

No One Understands

Entrepreneurship can be painfully lonely. Because you’re working long hours, you’re in an isolated position, and you have to put on a “brave” face for your employees and clients, you might find yourself thinking that nobody understands the stresses you’re dealing with. This weighs heavily on the mind. But don’t fool yourself into thinking you’re alone. Connect with other entrepreneurs and open up about your experiences.

Don’t feel ashamed if you lie to yourself. In fact, if you don’t, you’re in the minority. Some lies are important to reframe your expectations, help you think more positively and direct your line of thought to something more productive. However, don’t let yourself get caught in a trap of unproductive self-deception. Keep your thoughts and assumptions in check by remaining as objective as possible in your business.

  Source: http://bit.ly/1XY9dVM

More about me. Be curious.

5 Ways Tech Startups Can Save Money

For a tech startup, one of the biggest challenges you face is, well, starting up. Getting out of the gates and developing your first product or selling your first service takes money – something most young entrepreneurs don’t have a lot of floating around. The good news is that you don’t need unlimited resources. With a little strategic ingenuity and common sense, you can reduce your upfront costs, save money, and better position your startup for long-term success. Here are a handful of methods:

1. Run a Virtual Office

If you’re really serious about saving money, you’ll learn to do without a traditional office with a hefty rent. There’s no reason a fresh startup needs a physical location. Depending on where you’re located, even a small office could run you anywhere from a few hundred to a few thousand dollars each month. By running a virtual office – or setting up workspaces in your own home – you can get just as much work done without the added expenses. Don’t forget, office space also calls for insurance, taxes, utilities, and other overhead expenses.

From a marketing and advertising perspective, you probably don’t need physical space. A domain name, website, and really good hosting should do the trick. If you run a virtual office for a few months and discover that you absolutely have to have a physical office, then you can start your search. “Should you need to expand your business to accommodate for staff and expansion, there will always be locations for rent and purchase,” says Zac Johnson on Credibly.com.

2. Hire Freelancers and Independent Contractors

Wouldn’t it be great to have a company full of motivated employees getting paid full salaries and benefits? Certainly! However, that’s not the best strategy for a startup – even if it fits into your budget. In today’s economy, there are ample opportunities to hire freelancers and independent contractors. And while these job titles may have come with negative connotations in decades past, many of today’s most talented professionals label themselves as freelancers or independent contractors.

The great thing about contractors is that you pay them for their output. If you don’t need them for a month, you don’t have to pay them for that month. They scale as you scale, and you’re not responsible for benefits or taxes. It’s extremely advantageous and allows you to develop business relationships outside of your business.

3. Rethink Automated Subscriptions

How many subscription services do you have? We’re talking about industry periodicals, software programs, online programs, website memberships, etc. The problem with these services is that they automatically rebill each month and you don’t even think twice about paying them, when the truth is many aren’t necessary.

Just ask serial entrepreneur Matt Mickiewicz about his experiences with recurring subscription services. “In the past we’ve uncovered a mobile phone account that no one had used for six months, a website optimization service that was overbilling us, and a CRM that we had switched away from months prior,” he said.

Set a goal – let’s say $100 – and see if you can eliminate unnecessary subscriptions adding up to this amount. While $100 a month may not seem like a lot, it adds up to more than $1,000 over the course of a year. What could your business do with an extra $1,000 laying around?

4. Buy Used

As a startup, you should never think about buying anything brand new. You don’t need expensive furniture, top of the line equipment, and shiny accessories. Instead, buy quality used items that work well and hold their value.

Think of it like a car. While there is a faction of people that buy new vehicles, the large majority prefer used cars. That’s because a new vehicle loses roughly 11 percent of its value as soon as it’s driven off the lot. Why pay that premium when you can find a gently used version at a much lower price point? The same is true for office equipment, machinery, furniture, etc. Buy used and stash away the savings.

5. Trade Services with Other Companies

Many successful startups make a habit out of bartering with other startups. For example, a restaurant startup may offer free food to a new accounting firm down the street that’s willing to meet with them for one hour each week. It’s a win-win for both businesses. Are there startups, or even established businesses in your area that would be willing to barter? It’s worth a try.

Operate Within Your Means

You’ll often hear people say it’s smart to “live within your means.” Well, it’s also smart for a business to operate within its means. This looks like spending smartly and saving money whenever possible. With these five tips, it’s easy to see that saving money isn’t as challenging as it may initially seem.

Source : http://bit.ly/1NPTjM7

3 Types of Apps That Will Dominate Consumer Attention in 2016

According to data shared by Flurry Analytics, the average US mobile users spend 86% of the Smartphone time on apps. Apps continue to dominate the mobile web.

In fact, a year earlier in May 2014, it was noted that 60% of the total media time was consumed by mobiles and among them 51% was eaten by app surfing, says comScore.

The app ecosystem is only growing year-on-year as more industries and business categories are being brought not only online, but onto the mobile device.

Let's look at the trends that are slated to dominate in 2016--the year of apps, as this industry matures.

Mobile Commerce

Mobile commerce transactions are expected to top $115 billion by the end of this year and climb to $142 billion in 2016, according to a report from Forrester Research. In fact, mobile commerce now accounts for nearly one-third of all U.S. e-commerce sales, according to an analysis of data from Internet Retailer's newly published 2016 Mobile 500.

The same numbers for mobile commerce are growing at a much rapid pace in Asia as compared to the US.

Mobile commerce is slated to dominate online shopping trends in 2016 as more and more existing online retailers create specific strategies for capturing the attention of the mobile audience and those that aren't online yet, are going mobile first.

Video Streaming

According to comScore, 100 million internet users watch online video each day. The average user spends over 16 minutes watching online video ads every month and 64% of website visitors are more likely to buy a product if they've seen a video about it first.

According to Cisco, by 2017, video will have accounted for 69% of all consumer Internet traffic. Video-on-demand traffic alone will have almost trebled. For smaller businesses or startups, video is far more cost effective in today's times when the production costs have reduced considerably.

"Here's a real life example, I just finished creating a series of educational videos (45 videos in total) using only my iPhone 6+, tripod, a $300 lighting and backdrop kit and a video editor from Upwork. In total, costing me ~$1500 to produce quality videos such as my guide on publishing on Linkedin," Sujan Patel, co-founder of Content Marketer tells me.

YouTube alone receives more than 1 billion unique visitors every month and this number is slated to grow as apps such as Periscope and Meerkat gain popularity and brands start to accept video (live streaming and recorded) as one of their content marketing channels.

Ever since we've adopted video as a content marketing channel at Arkenea, we've seen a considerable spike in traffic and engagement.

Connected Apps

According to these statistics, the global Internet of Things (IoT) market is slated to grow at CAGR of 31.72 % by 2019. IoT product and service suppliers are expected to generate incremental revenue exceeding $300 billion in 2020. By the time we step foot in 2020, more than 5 billion people and 50 billion things will be connected to each other.

The fitness and health industry is spreading the much-needed awareness in a category where the technology exists, but not as much of consumer adoption due to lack of awareness.

But that's just one category - wearables. The entire spectrum of connected apps is touted to grow in 2016 as vehicle manufacturers start to integrate connected devices within the cars.

The other area is a better connected home as Apple's HomeKit evolves and more manufacturers adopt to bring intelligent products to market.

Are you leveraging any of these trends? If so, would love to hear your plans for the coming year in comments below.

Site : http://bit.ly/1UAtrUn

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How to Explain Influencer Marketing to an 8-year-old (or your boss)

You ’ve read all the recent Influencer Marketing case studies and are a little jealous of the return other brands are achieving. You would prefer to be the ‘cool kid’ rather than the ‘new kid’ on the block and have a great idea for an Influencer Marketing campaign. There is one thing stopping you from achieving rock star status with your branded content – approval from your boss.

You recognize Influencer Marketing is a necessary addition to your marketing budget, but how do you get buy-in from the top? It is simpler than you think. Just explain the concept of Influencer Marketing to your boss, as you would to an 8-year-old child.

Tell a story 

As humans, we are wired to be captivated by stories and easily recall information if it is relayed to us with rich meaning and visual cues. Stories engage the emotional side of our brains and drive us to take action. If you open your pitch with a story, you will be able to grab attention, make facts stick and data more retainable and understandable.

You know your boss best and what story would be relevant to them. Perhaps share a personal story of why you booked the company lunch at a restaurant that a friend recommended on Facebook. You could relate your story back to relevant stats such as: the average consumer mentions specific brands over 90 times a week in conversation with friends or family or that 68% of people feel that Facebook is the most trusted platform for product and service recommendations.

Tip: Don’t make your story long, but make it memorable.

Be the favorite teacher
Gives examples of superheroes Show how you can achieve a gold starBe ready to answer “Are we there yet?” 

We all had a favorite teacher at school that was an expert at explaining complex topics. Influencer Marketing is new and can appear to be overwhelming if explained poorly or if not understood correctly.

 It is important to provide background information, definitions, statistics etc. but don’t overcomplicate things to appear smart or knowledgeable on the topic.

Instead, keep things simple and avoid using too many technical terms that although might be relevant, make your boss feel that you need to be a rocket scientist to run a successful Influencer Marketing campaign. Don’t make them feel you are under qualified to do the job. Instead, make them feel confident that you have done enough research to take advantage of this new opportunity and are convinced of the value Influencer Marketing can add to your business and marketing plans.

Tip: When explaining complex topics, show how something works rather than resorting to just talking about a topic.

My own childhood superheroes were the Ninja Turtles and I was absolutely convinced that nothing could ever beat their ninja moves. In the world of marketing, there are many brand superheroes that kick butt at Influencer Marketing. The internet is full of case studies and examples that you can use to showcase potential success and return on investment. Search for case studies related to your industry, business objectives or even concepts you find innovative. These case studies will provide credibility to your pitch and also give you a foundation for best practice.

Tip: Show what your competitors are doing with their own Influencer Marketing plans and explain how you will differentiate your business. If they are not using Influencer Marketing yet, this is an added opportunity to highlight.

Now that you have given the background into what Influencer Marketing is and have shown the results that other brands are achieving, you need to explain whyyou think it is relevant for your business and how you plan on achieving your own Influencer Marketing gold star status. This is the point you need to reveal how it will add value to your business.

The most effective way to do this is to show that you have already put thought into your own Influencer Marketing plan.  In short, a solid Influencer Marketing plan will specify the target market, propose a campaign that meets the business objectives, identify relevant influencers, explain how workflow and logistics will be managed, as well as how you will track the results.

Tip: Having a plan instills more confidence that the additional investment has potential to add value. Ensure that you showcase what you foresee as being the potential return on investment for the new budget allocation. Use your Influencer Marketing plan to propose not only how you will achieve your first gold star, but also how it is sustainable to be awarded ongoing gold stars.

Once you have buy-in and approval to go ahead, first give yourself a pat on the back and then be prepared to answer many eager progress questions. Trying something new and innovative is not just exciting for you, but all the stakeholders involved. You will be anxious to prove your campaign victorious and your boss will want regular updates on the status and results.

Tip: There are Influencer Marketing platforms and tools which make tracking your campaign results easy. This is important to not only showcase success, but also to justify ongoing Influencer Marketing budget. The investment in these tools helps you answer the question, “Are we there yet”, with confidence and provide all of the relevant data of the journey.

The tips I have shared are intended to help you put your best foot forward when explaining Influencer Marketing to your boss. Just remember that you know the audience you need to pitch to best – so tweak and personalize your content to what is most relevant to them.

Source : http://bit.ly/1FPWUqx

You can't stop the wave, but you can learn to surf!

BUILDING RELATIONSHIPS WITH YOUR LEADS

You’ve invested time and energy in social media, content marketing, you’ve created a call to action that’s been generating leads, and your email list of contacts is growing. Now how do you generate sales from your current leads and expand your reach to attract new leads?

Let’s take a look at two effective techniques –influencer marketing and customer emails – and how they can help you build relationships with your leads.

INFLUENCER MARKETING

Using key influencers to promote your brand to a wider market, should be an important part of your overall marketing strategy. Today’s key influencers are often bloggers, and building relationships with bloggers, within your niche, can be more valuable than money spent on traditional advertising channels. According to a recent survey, 81% of consumers say they trust advice from their favourite bloggers while only 33% trust ads.

Word-of-mouth marketing is very relevant and when word gets spread by industry influencers, there’s more potential for capturing the attention of new users and increasing your reputation.

BUILD A STRATEGY AROUND INFLUENCERS 

Most brands today understand the importance of content marketing, and 77% of marketers use blogging to increase brand influence. Once you’ve invested time and effort into your own blog, how do you spread your reach by connecting with other bloggers?

Software such as GroupHigh can help you identify focus areas for your target audience and find bloggers and social media influencers who will be relevant to your message. Once you’ve identified them, determine how to collaborate to the best effect. Building a successful campaign involves:

• Identifying your goals and understanding what you want to accomplish can help you decide on whom you want to work with and what approach you’ll take.

• Get creative. Everyone likes a good product review, but more than their attention, you want to get them involved. Sponsor giveaways for ‘best comments’ or solicit user-generated content and feature the ‘best of’ on your site.

• Provide high-quality images and suggest creative visuals that bloggers can use for their Instagram stream.

• Create share-worthy messages. Target a devoted niche and focus on content quality rather than traffic analytics.

• Research your competitors. Take the time to really analyse their successes.  What does a successful campaign look like?  Don’t be afraid to borrow ideas from outside of your industry either.

REALISTIC EXPECTATIONS

It’s important to understand that blogging is a business too. Cooperation from bloggers isn’t always free, especially the high-level influencers. When you weigh the benefits, though, blogger influence often justifies the costs. Spending on influencer marketing might be an eventuality- as part of your overall social media marketing costs.

Connect with local bloggers (i.e. newspaper sites and community leaders.) This is valuable publicity, for free! Request backlinks to your site to drive traffic and boost SEO ratings. If you don’t earn a link, that’s OK, you still gained recognition and a boost to your reputation.

CRAFT SMART CORRESPONDENCE 

The other tactic for building relationships is connecting with customers through email marketing. Email lets you communicate your brand message in personalized format while providing leads the opportunity to click through and purchase.

Segment your email list. If you’re tracking analytics, you already know where you leads are coming from. Did they sign up through your latest Facebook ad, download your eBook, or were they referred by an existing customer? You can tailor your emails based on the specific marketing approach each customer responded to.

Other ways to segment include demographics and survey responses. The list goes on, depending on the product or service that you are selling. The point is that by breaking down your large list into smaller segments, you can send out targetedcorrespondence which translates to a higher likelihood of generating a response.

Personalize each email. Include details about past purchases and target items to customer interests based on those purchases. The more you demonstrate an understanding of your customers, the more likely they are to return and become loyal buyers.

Building relationships with your leads is the key to conversion. Building trust with influencers and maintaining communication through email marketing are effective methods of establishing these important relationships. And these are the relationships that create results!  

Source : http://bit.ly/1NFrsxB