What counts is what we can do

We had a very interesting speaker at a meeting I went to the other week. He was very knowledgeable in his subject and sounded as though he could really help his clients through tough times and to achieve their best.

After the talk, there was a general discussion during which it emerged that he had a doctorate in his subject. He was asked why he did not mention this in his talk or in his promotional material. He said he did not think it mattered. I suggested that potential clients and customers were not interested in qualifications, but only in what the person or business could do for them. That is my experience.

One way of showing what our business can do to help is to present case studies. I have several on my website. One client who came to me a couple of weeks ago first read my case studies last year. He was obviously a slow burner, but seeing what I had achieved for other clients ultimately persuaded him to come to me, and of course I can and am helping him to solve his problem.

People think of me mainly as a tax practitioner. What I really do is take away the worry and stress people go through when they have tax problems. That sort of pain relief allows my clients to get on with their lives rather than live a life of anxiety. Do you do that too?

 

Do you have a tax issue I can help you with? Get in touch and I will guide you.

A clear business message?

The other day I had a connection request on LinkedIn. When I looked at the person’s profile, I was none the wiser as to what he did for a living. There were two paragraphs of jargon. I did not understand a word.

I did try some research and believe he might build websites or maybe write software for building environment systems, but I am not really sure. He probably thinks that a search on LinkedIn for his specific skills will have him found by a recruiter. However if I knew what he did I might remember when someone was looking for a person like him… if I knew what a person like him did.

Brands, value and me

Photo by Jon Stow

Photo by Jon Stow

I would normally avoid medical matters in this blog, but it is relevant that I am allergic to pollen floating about from early spring to mid-summer. You see, I buy anti-allergy pills which I find very helpful.

I needed some more, so went to one of the local supermarkets. They only had the famous brand variety, at £5.99 a packet. I am used to paying £2.00 for the generic version, which is exactly the same. Yet people must buy the well-known brand at that higher price otherwise the pharma company would not bother to maintain it. Brand power is worth a lot to big business, but I have to see value, and as far as my antihistamine requirement was concerned I did not see the value.

I crossed the road to another shop and paid my £2 for a generic version. What would you have done?

“Thank you for your time”

That is something the TV news presenter says quite often to someone they have just interviewed. I think that phrase is a clue that they have not learned much from the interviewee; perhaps nothing at all which will help the viewers with an understanding of whatever subject was being discussed.

If the presenter had said “Thanks very much for your input, which was really interesting” then I think we can take it that the information gleaned was useful.

In the past I have to confess that a prospect might have said to me “Thank you for your time” after we had had a discussion about how I could help them. I now know it is a warning that I did not get my message across. Has anyone said it to you?

I always do my best to engage possible new clients in how their situation might be improved considerably if they went with me. If I hear that phrase, either I should ask before they go what they did not understand. Otherwise I think I should call back soon to clear up anything they did not understand.

“Thank you for your time” is the big brush-off, but we should not take it lying down. Follow up and clarify, and maybe not lose the business.

How do I compete?

“How do I compete?”

That was a question recently put by an accountant who has another 125 accountants within a five mile radius. The easy answer might be “don’t”. Give in and do something else.

Then again, there is a lot of demand for accountancy services, but clearly plenty of supply.

The answer might be here:

  • The other accountants are not competitors but colleagues.
  • Do you have specialist areas in which you are strong and others might not be?
  • Can you sell your services to the others and outsource some of the work you are not good at or don’t like to them?
  • Can you concentrate on marketing your strong specialist areas to the public, making it clear you are different from the rest?

I am a tax guy, but I do not work in all areas of taxation. I specialise in landlord tax, capital gains on property, non-residents and a couple of other niches. Anything I do not like and am not good at, I simply do not do.

Do you stick to what you are good at? It is more enjoyable and more profitable too.

Do you have a tax issue I can help you with? Get in touch and I will guide you.

Marketing, networking and evolution

A dozen or so years ago when I set up my own businesses, they were local. I joined various networking groups and met a lot of people. I belonged to on-line business networking sites and went to off-line meetings facilitated by those sites and their owners. In those days, I gained business from doing this, in return for doing my bit in referral networking. I recommended those businesses and their owners whom I felt could help my clients and contacts. That was the way it worked, and possibly still works for some.

Recent local networking has really not brought me any business. Of course I have had referrals from happy local clients, but I cannot remember the last local network referral I have had, and that is despite having referred many of my contacts to other people.

It does not matter in the sense that I get business from all over the world through marketing on-line, and advertising still works for me locally. I just wonder if local breakfast and lunch groups have had their day except maybe for start-ups. What do you think?

Born free, but life isn’t free

I get a lot of business through websites; both my own and others where I have a presence. The enquiries I receive as a consultant on somewhat technical matters fall into three categories:

  • Genuine requests for help from people who have evaluated my expertise or need confirmation that I can help them.
  • Requests from some who want answers, but do not appreciate what value those answers will have.
  • Requests for free information or queries that are designed to try to obtain free information in any proposal from me.

It is not always easy to tell the difference between the three, but I usually have some idea. I respond sometimes to ask more questions before quoting a fee, but if the requirements set out are pretty comprehensive then I quote straight away. I avoid giving free information for my own safety, but also for that of the foolish person who might act on it without having given me all relevant facts.

By the second email I will have proposed a fee based on the value of the information required, provided it is worth my while. Usually for those who understand that value in the context of their own circumstances, I will get a swift acceptance. These will prove to have been the genuine requests.

For the other two categories of requests, once having proposed a fee I will hear no more. Very occasionally, if a telephone number has been provided I will make a quick call to make sure that my “prospect” has understood what I have said. Mostly though and without a phone number, I know it is a waste of time following up.

Experience tells me when I am wasting my time. I may get business from around one-in-six to one-in-eight of the incoming emails seeking information. I am quick in dealing with them because it is not worth wasting time, and certainly not on follow-ups. One-in-six to one-in-eight is plenty enough too.

Not every business is the same. If I were selling goods I might follow up more.

Are you a consultant? Do you follow up when your enquirer goes quiet? How much?

What works for us

 

lonleliness

Remember what works

When I started my businesses I took an ad in local monthly pamphlets which go out to probably about 20,000 homes. It worked quite well, but although I was at one time advertising in four of these booklets going to different areas, over the years I have found that two local towns did not want to buy from me. I do not understand why, but I stopped my ad in those particular pamphlets. I still have ads in the other two booklets because they do work and they reinforce my local presence.

I used to do a lot of breakfast networking. You may remember I even ran a breakfast group for a while. That helped my business locally. However, for family health reasons I backed away from that scene, and I cannot say that my business has suffered to any degree. Maybe that networking had stopped working for me, so I do not feel a great need to re-engage.  I do network face-to-face at meetings later in the day.

What works for me now in getting business is my on-line presence both through my own websites and through that of an alliance where I pay for my profile via commission when I close business received through that “external” website.

I have tried to recognise where marketing does not work or has ceased to work, and close it out. I will always try new methods too. We have to test and see what works, and notice what has stopped working, otherwise we end up wasting money and our valuable time.

Do not be lazy with your marketing because it can be expensive. I know myself it can be easy to let it slip.

 

Are your prospects in harmony with your business?

I guess we can all make a splash once to get noticed, and a joke might be the way to do it. Will prospects really remember a business for the one joke, repeated over and over again, or will they get bored?

Here is eHarmony’s current ad in the UK:

 

 

 

 

I would rather that my potential clients felt they could relate to my business and feel comfortable that I could give them what they wanted.

Here is a confession. I have played the dating agency game, and did computer-dating back in the Seventies and Eighties (yes, they had computers then). I would far rather have thought that I did not need to have film-star looks, and did not need to be perfect. I was looking for a normal sort of girl, not some glamour model who would not give me a second look.

The old eHarmony ad featured real people who seemed normal to me; not ordinary, but with their own individual characteristics. Had I still been in the game, I know that this next ad would be much more attractive because I would be comfortable with it until I bought.

 

Don’t you prefer this to the joke ad? Well, I certainly do, but does the advertising agency know better?

Isn’t your prospect more likely to buy when they feel familiar and comfortable with your business and you?

Running your own business down

So often I meet earnest business people who work hard and are not making money. So often it is because they undervalue themselves and what they do. They offer a great service, and if you asked their customers they would say that the businesses really stand out in terms of service quality.

This is one of my favourite themes. You need to value yourself and your own business, and know that your extras and special care for your customers and clients warrant higher charges, and your clientele will not complain. You must not join the race to the bottom.

And if you don’t believe me, see that that Master of Marketing, Jim Connolly, thinks. Do you believe me now?