You may not have the $3.7 million to buy a 30 second Super Bowl ad for your business, but there’s a lot we can learn from all the money that’s spent airing–and analyzing–these ads. Super Bowl ads are always entertaining to watch, but are they effective at selling products? New research from Harvard Business School …
“Looking for a jump in business? Have a sale!” “Want them to buy? Offer a discount!” That’s the conventional wisdom, and indeed it works…but at the expense of profit! Nonetheless, so many businesses I work with find themselves slaves to discounts in order to keep the sales coming. Discounts, discounts, and more discounts. It doesn’t …
If you’re like most businesses, a handful of customers are responsible for a large amount of your business. Here’s a great way to thank them this holiday season, while helping boost your year-end sales! This technique comes from my Aunt Sandy, who’s used it in her store to boost holiday sales for years. Send your …
Today, Virgin America flight attendants debut their new uniforms, designed by Banana Republic. Flyers can buy items from the new looks right from their seats, and Banana has put a full line of airline-inspired clothing in their stores. (Read more about it here.) This may strike you as an odd partnership… an airline and a …
[margin30] Want people to get to know your business better? Wish it were easier to explain your business to potential customers? You can do this in a place and format that they love: YouTube videos. Video is the fastest-growing thing on the internet. Did you know that: [fancy_list style=”arrow_list” variation=”blue”] Every day, over 4 billion …
Branding might seem like a luxury, but it is an engine for sustainable revenue growth. When you have a powerful brand, your customers have a deep, gut sense of what your business stands for. And they will think of you whenever they (or their friend) needs your type of product or service. A strong brand is a key ingredient to converting first-time customers into repeat customers, and converting repeat customers into eager referral sources.
Here are 5 keys to creating a strong brand (and related traps to watch out for!). How does your business stack up on each of these dimensions, and what can you do to strengthen your brand?
An elevator pitch isn’t just for people who are starting a new business. It’s important for all business owners to have a potent 30 seconds at their fingertips. You’ll find it a powerful way to attract new customers, partners, or whomever you want to meet. The elevator pitch isn’t just for the elevator, or just …
Do you feel like potential clients don’t always understand how great your offering is? Then this article will be a quick win for you!
Having helped hundreds of companies significantly increase their growth, I’ve found that some simple tweaks to how you talk about your product makes a huge difference in how it resonantes with customers.
Here’s the simplest way to get started on this easy change: by understanding “features” vs “benefits.”
“Features” describe the product or service and what it does. For example:
Diet Coke has 0 calories
The new iPad has a retina display
Our movers pack your belongings carefully
“Benefits” show which of the customer’s needs will be met. For example:
You won’t gain weight when you drink Diet Coke
Movies look more lifelike on the new iPad
Your stuff won’t break during the move!
Benefits are much more powerful, because they tell the customer exactly why it matters. The benefit answers the “so what?” It speaks in the customer’s language, rather than in your language. So it motivates them more strongly to buy.
BUT — right now I’d bet you’re talking mainly about features. You see, we’re so eager to share how awesome we are, that we talk too much about ourselves. We talk about our process, our experience, our secret sauce.
Sometimes you might think, “Well the benefit is obvious!” True, people can connect the dots–0 calories means it’s better for my diet. However, you have your customer’s attention for a very brief time. Don’t make them do this extra work! Connect the dots for them, so they are sure to see the benefit of what you’re offering.
