Psychology

Scarcity versus abundance

July 12, 2017

When I started in the agency business 25+ years ago, there was this odd paranoia that ran through agencies big and small.  There was a belief that agency personnel couldn’t be friends with people who worked at other agencies because secrets might leak out. And if you dared to be friends or even associate through a professional network – you’d better not bring the other agency’s employees into your office for fear that they’d walk by something and glean secret details about your accounts. All of this is what I call a total lack of abundance thinking.

I know it sounds crazy – but it was very pervasive through the industry back then. Today, I’m happy to report that with few noted and paranoid exceptions, agencies seem to recognize that it’s actually healthy for agency professionals to mingle together for both the shared learning and camaraderie.

That paranoia was a symptom of scarcity thinking.  I don’t think the ad industry is the only one who did/does suffer from having that point of view. I think it’s easy for any of us to get stuck in that rut.

We’ve all seen scarcity marketing and sales in action.  It’s the overly attentive sales clerk following you around the store, the car dealer who won’t let you take a test drive without being in the car with you, or the salesperson that knocks the competition at every opportunity.

There’s a scent of desperation in scarcity marketing and sales that puts the buyer firmly in the driver’s seat. It converts the transaction from a potential partnership to an uneasy game of tug o’ war that ultimately puts you at a disadvantage because you want the deal more than your potential buyer does.

It creates the sense that there’s some sales quota that’s not going to be met or some other looming deadline that has everyone scrambling to cut a deal.  That rarely works out to the seller’s advantage.

I’m not talking about the idea of creating scarcity around your product or service. Letting someone know there are only four plane tickets left at this price or that you won’t be offering the workshop again until spring can be very effective because it actually is a position of abundance.  You’re basically saying, “Hey, just to let you know, I only have five of these left. Let me know if you want one before I sell out.”

That’s the secret of an abundance mentality. It’s very laid back and it gives the impression that while you’re happy to sell your wares, you’re equally okay if the prospect isn’t interested because someone else will be. That confidence in your product or service is contagious.

What does abundance marketing and sales look like?

You share your knowledge freely:  You teach and give away your expertise through white papers, ebooks, blog posts, free webinars and other tools.

You are quick to tell someone when what you sell isn’t right for them: You know that an unhappy customer costs you more than what you could possibly make off of them, so you encourage them to find a better fit.

You don’t haggle on your pricing:  You know that what you offer is an incredible value at the price you’ve quoted, so there’s no reason to play the game. You set an honest, reasonable price for what you offer and then you stick to it. If the prospect doesn’t want to pay that – it’s okay because someone else will.

You don’t chase potential buyers: You know that you can’t make someone buy before they’re ready so there’s no up side to being a pest. You keep offering value and your expertise and they’ll come around when it’s time.

Review your marketing tools and procedures. Do they suggest you’re desperate to make a sale or do they convey a sense of abundance?

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May I ask you a question?

July 5, 2017

One of the biggest issues marketing and sales folks face is just getting on the radar screen of their prospects. Even when you have something of incredible value and you genuinely know the prospect needs what you have to sell – it’s tough to get their attention long enough to ask a question or even be noticed.

That’s even more of a challenge for organizations that don’t have a six-figure marketing budget or exist in a crowded, competitive landscape.

That’s where some psychology can be incredibly helpful.

One thing that is almost universally true about us humans is that we are incredibly flattered when someone thinks we have something of value to offer in the way of experience, knowledge, expertise or hard-earned wisdom.

And that, I believe, is the door we need to open if we want a prospect’s time.  For this technique to work, I think the following needs to be true about your business:

• You/your organization have a niche/specialty in which you have a great depth of expertise
• You have some outlet (website, blog, podcast, newsletter) in which you share that expertise without a sales pitch or being self-serving
• You have a genuine interest in the people you serve and a passion for helping them in your unique way with whatever you do/sell
• You sell something that is more of a considered purchase and less of a commodity

If that’s you, read on.

Make a list of your ideal prospects and their influencers. Who would you most like to serve and are the people/companies that you know you could delight? Or, who has information/insights that could be incredibly valuable to your target audience?

Once you have compiled the list, call/email them and ask them if you can interview them for your blog, website, newsletter, podcast, etc.  I think you’ll be surprised at how many of them say yes and are flattered by the invitation.

Now the hard work begins.  Do your homework.  The prep for the interview is key to the success of this marketing tactic.  You want to ask questions that really get them to go deep and give you some insights into the way they think, work and what they believe about the work they do.

Be smart about the interview itself. I know I don’t have to tell you this but show up on time, look and act professionally, be gracious if things go awry, and don’t sell. If your interviewee asks about your business, give them a quick overview but do not go into selling mode. You’re there to learn and connect. Focus on that.

Send a handwritten thank-you note after the interview, sharing something valuable you learned during your time together. Not an email or a computer generated thank you.  Invest the time to actually write the note.

Next, create the content piece and reach back to your interviewee so they can review it.  Share with them your publication plans and tell them you’ll send them a link/copy once it’s out there so they can share it with their network as well.

When you hit publish (or print the newsletter if you’re old school), re-connect with your interviewee and invite (not demand, require or nag) them to share it.

Let’s recap your prospect touches.  Between the initial invitation and the publishing of the content, you’ve connected five times.  That difficult to reach prospect has probably welcomed your communications five times.  If you’ve been engaging and sincere, I believe they would be willing to at least learn a little more about the work you do.

Not only that but you are creating content that truly helps your entire customer and prospect base.

That’s marketing that will lead to sales time and time again.

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Are your customers in transition?

April 12, 2017

When I think of Spring, I can’t help but think of it as a season of transition. Seeds evolve into plants, kids graduate from high school and college, and many single people choose this time of year to get married.

No matter what the transition is or how desirable the next phase may be – transitions are, by their very nature, very stressful periods of time. In that stress, comes the need for a deepened understanding and more support.

You may not think of it this way, but my guess is that at the very moment your customer is ready to buy, they’re in a state of transition as well. They might be evolving their business, they might be experiencing a life transition or they might just be transitioning to you from whoever was servicing them before.

At MMG, we’re big believers in not only understanding who your sweet spot customers are but even more important – understanding exactly where that sweet spot customer is at any moment in the buying cycle.

If your prospects or clients are in a state of transition, it would be helpful for you to remember some of the realities that transitions bring so that you can serve them better, be more empathetic and anticipate their needs.

When a person is in any sort of transition, everything is heightened. Typically a transition is a significant event that brings with it a host of emotions. At the base of any transition is the combination of uncertainty and anxiety. Because it’s important to whoever is going through it – they’re worried that it won’t go the way they’ve envisioned that it should. Add to that anxiety the reality that in most transitions some elements are out of their control. The bride can’t control the weather. The graduate can’t control his family dynamics.  The business owner can’t control if the old vendor will block the transition or make it simple and clean.

On top of that blend of anxiety and uncertainty is loss. As the old saying goes, “you can’t steal second base and keep your foot on first.” No matter how exciting or amazing the new transition will be, there is the pain of saying goodbye to something comfortable and familiar. Even if your new client is furious with their old vendor – they know exactly what to expect and how to react to it. There’s comfort in that.

Another element of transition that you need to keep in your sights is the fact that when someone is making a change, they often have unrealistic expectations for what that change will bring to them. You’ve probably made quite a few promises and commitments to entice that new customer to do business with you. At the moment of the transition – they not only expect you to keep those promises, they expect you to exceed them. When we’re courting a new client – we’re putting on the full court press. They feel very desired and like they’re your first and only priority. If you deliver on that – you can quickly earn their trust. But if you stumble, it’s tough to recover.

Finally – remember that when someone is going through a significant change, they’re very conscious of the risks involved. They may know intellectually that this is something they either need or want to do, but they’re putting themselves in a very vulnerable position.

If you want to make your new customer’s transition to your company smooth and worry free, you’ll need to have a carefully orchestrated plan in place. Over communicate that plan. Build in time for them to ask the same question they’ve asked ten times before. Be absolutely accessible and transparent and earn their confidence and trust, step by step.

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Do you rush things?

January 18, 2017

There’s a ride at Walt Disney World called Rock n’ Roller Coaster. At the very beginning of the ride, the car you ride in goes from a dead stop to over 60 mph in less than three seconds. What a rush! While that’s enough to get anyone’s heart racing, the folks at Disney don’t leave anything to chance. The riders’ hearts are racing long before they hear the sound effect of tires screeching or the car starts moving.

Disney is a master at the art of building anticipation. You load into the car and they bring you right to the brink of the ride’s start. The music starts to get louder and louder. The signage is warning you to keep your head firmly against the headrest. Right about the time you begin to wonder what’s taking so long, the neon sign above you and the speakers in your headrest start the countdown. The car starts to vibrate as the engines rev and then, with a loud screech of the tires, you are accelerating to 60 mph and an upside down loop as the ride begins.

My point is – they could have just loaded their guests in the car and after a second or two started the ride. The roller coaster would still be pretty thrilling but it wouldn’t be the same experience.

Whether you’re a roller coaster junkie or you’re scared senseless and peer pressure got you on the ride – the build up is incredibly effective. By the time the ride begins, you’re about to crawl out of your skin you’re so ready to just get started.

It’s not just that ride either. Disney uses this technique over and over to create an increased hunger for their rides, movies, and special events. They use it because it works. It creates demand. It’s increases perceived value. And ultimately, it increases sales.

I think we can all learn a little from Disney’s example. Many businesses rush to the sale and in that effort; spook their potential buyer because they’re either not interested or just not ready to buy.

But make someone wait or tell them you have a limited number of whatever they want – and suddenly they’re the ones asking for the sale. So how can we slow down to help the sales heat up?

Create some buzz: One of the best ways to build anticipation is to get other people to start talking about you. A concerted PR effort is a great way to get some media coverage or viral attention. When you can trigger positive word of mouth, you can count on increased interest.

Give your best prospects a sneak peek: Everyone likes to feel like an insider that has access or information that everyone else doesn’t have. Creating an opportunity for a select few to do a test drive but not have full access to the offer will generate anticipation for the actual release. Apple employs this technique better than just about anyone.

Don’t blurt out everything all at once: This is a mistake most marketers make. They’re in such a rush to pack every possible bit of information into every communication that they not only kill any possibility of anticipation but they also bury the audience with too much too soon.

Keep it a secret: The world loves a good mystery. One great way to create a mystique around your product/service is to tease the market and hold some information back. The more mysterious you are, the hungrier they’ll be to know.

At the end of the day, you don’t sell anything until someone wants it. Companies like Disney and Apple are great examples of how well using anticipation to stimulate that want is a great marketing technique that drives sales. It might be worth a try!

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Context is King

December 28, 2016

Context is king.  When you think about companies who take risks and are edgy when it comes to their marketing – the insurance industry would hardly be the first to pop into your mind. But that’s what happened during the 2015 Superbowl TV spotathon.

Nationwide unveiled a TV spot during the Superbowl where a small boy was talking about all the things in life that he had missed. All because he died in a preventable accident.

The spot urged viewers to visit www.MakeSafeHappen.com, a site that Nationwide was sponsoring to increase awareness about preventing the kinds of accidents that hurt or kill children each year.

The spot was well done and the message was clear and well intentioned. But the outrage and disapproval were over the top. The tweets, Facebook posts on the Nationwide page and general commentary were swift and disapproving.

What went wrong? We can all agree that trying to prevent accidents that kill children is a noble effort. Nationwide wasn’t really trying to tie any product to their message so it wasn’t overly commercial or self-serving.

The problem was that Nationwide and their agency totally disregarded context.

People are at a Superbowl PARTY. The day is practically considered a national holiday. It’s loud and celebratory and everyone is having a good time.

Which means they don’t want to think about dead children.

The audience could not and would not hear the Nationwide message at their Superbowl party.

Superbowl ads typically fall into two categories. They’re either funny or sentimental. But they are not sad. They are not heavy or laden with information. Just like the snacks at a typical Superbowl party – they’re puffy little hors d’oeuvres, meant to tantalize, not satisfy a deep hunger.

Nationwide released a statement the day after the Superbowl because of the uproar. They said that they accomplished their goal, which was to get people talking and cited the number of hits on the website after the spot aired.

Sorry Nationwide, but I have to call BS on that. Yes, people were talking, but they weren’t talking about preventable accidents, they were talking about how much they hated the spot. And they weren’t visiting the website to learn how to protect their children, they were visiting the website to see what in the world you were trying to communicate.

As you might imagine, there are lessons for all of us in the Nationwide Superbowl mistake in terms of context.

Get into their heads and hearts: You need to really understand how and when your messages are going to be in front of your audience and what they are thinking and feeling in that moment. Every word you use or visual you include is filtered through their state of mind at that moment. As Nationwide learned, even the most sincere message can fall flat if the mood doesn’t match.

Assess their ability to take action: Be mindful of how and where your audience is going to see your communication. Putting a phone number on a billboard, when people are whizzing by at 70 MPH is probably a waste of space unless the number is so easy to remember (800-CLOGGED) that the few seconds they have to see it will be enough.

Consider their setting/who they’re with: One of the reasons the Nationwide spot got so widely criticized is that Superbowl viewing is an all ages activity. Many people felt it was inappropriate to run the spot when so many children were in the viewing audience.

Even if there weren’t children around, everyone was hanging out with their friends. They love the Superbowl spots that made them all laugh together and enhanced the party feel. A spot about a dead boy hardly has that effect.

Don’t ever ignore the context of how, where and when your communication will fall into the audience’s day. Those filters may enhance their reaction or, as it did for Nationwide, might completely destroy your effort.

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Five Ways to Get it Done

October 12, 2016

How do you get it done?  If I ask any marketing pro, business leader or entrepreneur what they need more of (and I take money out of the list of possible answers) 99% of them will give me the same response.

Time.

Whether it’s the pace of life, the vast variety of channels, information overload or that most companies are getting by with fewer people – everyone is time starved. I believe that the popularity of many of our modern conveniences is simply a result of our never-ending hunger for just a little bit more time.

The alternate title of this column could have been “live every day like you’re going on vacation tomorrow.” I marvel at how much I get done in the 48 hours before I leave for vacation. It’s practically magical how the To Do list relinquishes itself to me. I’ve learned to harness some of that pre-vacation magic to get it done and here’s how you can too.

One list, one focus: I’m not so sure Post-it Notes are our friend. It’s so easy to jot something down as a reminder to get it done and next thing you know, you’ve got a Post-It Note panorama on your desk, monitor or taped into a few notebooks.

To truly get more done – capture everything you need to accomplish in one place. Whether it’s a smartphone app or old-fashioned pen and paper – have a master list that you can trust is complete.

Once you have your master list, chunk like chores together. It’s much more efficient to make five phone calls in a row than piecemeal them out throughout the day. You get in a groove and shifting in and out of the groove takes time and energy you don’t want to waste.

Declare a deadline: The reason the pre-vacation thing works is because you have a hard and fast deadline. You can use that psychology to your advantage on a regular basis. You need to create your own deadlines and build in accountability by telling co-workers, friends or whoever is going to hold you to it. If you have to – create a consequence for missing the deadline. The more public the deadline/consequence, the more effective it will be.

Know your rhythm: Odds are the things on your To Do list aren’t new experiences. You’ve done most of them before, and you know what they require of you. If you write better in the morning, make sure you get all the writing tasks done before noon. If you get a little sleepy/lazy mid-afternoon, do something that revs you up in that time slot. Everyone has their own rhythm, so cater to yours to maximize each minute.

Protect your time: When you’re going on vacation, it’s so much easier to say to that chatty co-worker “Sorry but I have to get this report done before vacation.” You need to learn how to do that every day. Depending on how and where you work, – that might mean closing the door, coming in early, or working from home for a couple hours. But do it every week, and you will be amazed at how much more you get done.

Block the shiny objects: Email, Facebook, the conversation in the hallway, or that junk drawer that is begging to be cleaned. When you’re feeling overwhelmed, it’s easy to give in to whatever shiny object is in front of you. You need to outsmart the shiny objects by blocking their access. Turn off that email ping, that Facebook stream and anything else that tempts your attention.

Imagine it – if you treated every week like it was your pre-vacation week, you’d tear through your tasks. You might even get enough done that you could actually not work on your real vacation … once you take it!

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The psychology of color

February 13, 2012

Color (or the lack of color) triggers a very powerful emotional response in us.  We can use insight as we select company colors, design logos, create ads, build websites and even create products.

Check out this fascinating infographic on how we react to color.

 

Bravo to CertaPro Painters for creating this and Cool Infographics for originally sharing it.

Related articles

• The Psychology Of Color In Design | designrfix.com (designrfix.com)

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Introverted or not – this guide is a must read!

December 21, 2011

Lisa Petrilli’s guide for introverts

No matter what personality test I take, I tend to score off the chart on the extrovert scale.  I like big crowds, I’m comfortable speaking in front of thousands of people and I get a buzz from being at conferences, networking events and new situations with new people.

So you might think a book titled The Introvert’s Guide to Success in Business and Leadership would hold very little for me.  And boy, would you be wrong.  I learned quite a bit by reading Lisa Petrilli’s guide.

For readers who tend to be more introverted — you’ll learn how to create a strategy that leverages your strengths while navigate networking events, relationships with key team members, and how to connect with influential leaders who can help build/grow your career.

You’ll also learn how to make sure your ideas and good thinking sees the light of day in your organization.  Lisa also talks about how introverts can successfully motivate others, tackle decision-making, collaboration and asking for that raise or promotion.  There are some great tips on how to manage/maximize public events like conferences too.

As an extrovert — many of the suggestions applied to me as well.  I read the ebook, so I could highlight and take notes to my heart’s content! Plus, I gained a great deal of insight on how to work with introverts and help them bring their best to any project or team.

I’ve known Lisa for a few years and am more impressed with her as both a business leader and a person every day.  She’s a natural storyteller which makes her book a fun and fast read.  This would be a great read to fire you up as you get ready to take 2012 by storm.

You can buy the ebook by clicking here.

You can buy the Kindle version by clicking here.

And…you can buy the Nook version by clicking here.

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How/why we buy: Social commerce infographic

December 7, 2011

One of the best decisions I made as a college student was to get a Psych minor.  It certainly helps me be smarter when it comes to marketing, business ownership and life in general.  Besides, people fascinate me and I like understanding how they tick.

That’s probably why this infographic caught my attention.  It focused on the psychology behind how/why we buy and how social interactions influence those buying decisions.

Throughout the infographic, you’ll find little nuggets called psychological reasoning like “we have an innate desire to repay favors in order to maintain social fairness whether those favors were invited or not.”

Check this out… and then tell me which insight will be most helpful to you.

Thanks to Stephania Andrade from TabJuice for making sure I didn’t miss this one.  If you’d like to share it with others, here’s the link to the original post.

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How to be creative on purpose

July 31, 2011

…Do you need to be creative on demand?

My job is to be creative on demand.

The demands come in all forms.  It might be a strategy session for a client’s marketing plan, writing a print ad that will generate action or keeping the content on my blog, newspaper column or enewsletter fresh and worthwhile.

I don’t have the luxury of waiting for a muse to strike.  I’m always on deadline for something.  Which is why I was eager to pick up Todd Henry’s The Accidental Creative* (click here to buy) and learn as he promises in his subtitle…how to be brilliant at a moment’s notice.

There’s this myth out there that suggests that creativity comes from total freedom.  Well, I don’t know about you but I don’t know any professional today who lives in a world of complete freedom.  Instead, we’re called upon to be creative within the many constraints of life, world and our own habits, fears and obligations.

Todd explains that we all need to adopt the goal of being prolific, brilliant, and healthy. He explains why you need all three succinctly:

• Prolific + Brilliant – Healthy = Burnout
• Brilliant + Healthy – Prolific = Unreliable
• Healthy + Prolific – Brilliant = Fired
• Prolific + Brilliant + Healthy = Producing great work consistently

According to Henry’s book (and my own life experiences) there exists a creative rhythm deep in the heart of every individual, that is, “independent of the pressures and expectations you face each day.”

Establishing this rhythm will unlock your creative potential, provide you with the stability and clarity to tackle challenges, create and let your best thinking flow.

Your creative rhythm is set by how you structure and manage five key elements, the acronym for which is “FRESH.”

1. Focus

Most waste comes not from not doing the right work, but from doing the right work inefficiently. Clarity around objectives, separating the urgent from the important, is the springboard to effective creativity.

2. Relationships

Engaging with others is a powerful source of creative inspiration. Intentionally forging the right relationships with others gets you focused outwardly and frees you up creatively.

3. Energy

Think energy management, not time management. According to Henry, “it does you no good to micromanage your time down to the last second if you don’t have the energy to remain fully engaged for that time…you need to establish practices around energy management.”

4. Stimuli

Like any process, the output of the creative process depends on the input. Consistent brilliance demands that you be purposeful about what you’re feeding your brain.

5. Hours

Time is the currency of productivity. You must ensure that the practices that make you a more effective creative are making in onto your calendar.

It’s dandy to discuss all of this in theory but Henry really won my confidence when he provided practical weekly, monthly, and quarterly checkpoints at the end of the book to help put the five elements into practice.

Here are a few other key takeaways from the book:

• How books should not be read as pure information but conversations like social media
• The concept of the “Big Three” to allow you to focus on your critical creative goals
• How to send messages to your brain to look for solutions

If you are involved in work that requires you to think and create for a living, The Accidental Creative will help you form and build your best ideas and manage the creative process and work that comes from it.

*Yup, it’s an Amazon Affiliate link.

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