Archive for April, 2010

3 steps to figure out which subject line will perform best for your next email blast.

Tuesday, April 27th, 2010

So you’re scratching your head wondering which subject line will get your email blast opened and read, right?

Scratch no further.  Here’s how we chose the best subject line for a recent campaign.  If you implement this trick, you’ll be sure to improve your email marketing results.

1- Using a list of 14,500 email, we split the list into 3 parts.

  • Test List A – 1,000 emails
  • Test List B – 1,000 emails
  • Final list – 12,500 emails

2- Next we blasted Test List A and Test List B at the same time.

3- Within a few hours we could see clearly which email performed better and used that subject line the next day for the remaining 12,500 emails.

Easy.  Effective.  Smart.

The 80/20 rule!!!

Friday, April 23rd, 2010

I can’t tell you how many times I see people, sales people, marketers and companies forget about the 80/20 rule.  Could it be that they never heard of it?  Come on everyone!  It’s the 80/20 rule!  It’s the best and easiest way to generate more, good, profitable business FAST.

First a history lesson.  The 80/20 rule was really called the Pareto Principle.  In 1906 Pareto figured out that 80% of the land in Italy was owned by 20% of the people.  And the concept quickly caught on as a general rule of thumb for business.

Recently MarketSmart was tasked with figuring out how to jumpstart sales for one of our newest clients.  Of course, they wanted sales fast.  …Before we even had a chance to write their comprehensive marketing and sales strategy.

So what did we recommend?  Go with the 80/20 rule!

We just got their data this morning and sure enough $3.7 Million dollars out of $4.65 Million was generated by 20% of their clients.  Go figure!  So we wrote a quick sales plan for them to focus on those clients immediately.  “Go to the well!” we told them.

The rest of the plan (which I wrote this morning) emphasized the following:

  1. Focus on the 20% who deliver 80% of your business (I call these people and clients “superstars”)
  2. THEN look at the next rung (“the players”) to see if you can move any of them up to superstar status
  3. Next look at “bench warmers” and customers who disengaged for one reason or another
  4. And finally, generate new leads

This strategy and plan should help you get focused quick too.  Happy selling!!

The number one thing to do in order to close a sale.

Tuesday, April 20th, 2010

Shut up!

Really.

I’ll never forget one of the harshest lessons I ever learned in business. I was 22 years old selling advertising space for a large newspaper in the D.C. area. I really wanted to be an advertising copywriter or designer. Either position would have been fine.  But there was a terrible recession going on and the local ad agencies simply weren’t hiring.  So I figured I’d sell ad space instead. And to do it successfully I decided to sketch ads and write copy for local retailers while giving them offer ideas and marketing counsel.

I sold a lot of advertising that way. And I guess I got cocky. Drawing up ads for prospects worked pretty well and helped close deals. It was a great way to get people excited about the possibilities.  They could envision the ad easily.  We’d collaborate and imagine the impending success for each ad.

Then one day I ran into a buzz saw. I found a prospect who was analytical. He was more concerned with numbers than ideas. But that wasn’t the problem. I recognized that and changed my tactics.  Instead of designing an ad and suggesting coupons, I scribbled out numbers reflecting possibilities for a return on his investment.

He was just about ready to say “go”. I knew it.  We went through the numbers.  It made sense.  It was sold.  Right?

Wrong!

As he was contemplating his decision, I got impatient.  The clock was ticking.  The room was silent.  I couldn’t stand it.  So I jumped in and started talking….Selling!  Yuck!

He slowly looked up at me with an angry glare and barked, “Would you shut up! I’m thinking! Didn’t anyone ever teach you to shut up when you’re closing a deal?”

Stunned.  I was stunned.

Next he picked up the papers, shoved them into my chest and ushered me out the door.

Try as I might, I could never get him to see me again. In the end I think that was his loss because I was truly just trying to help make his life better.  But the lesson stuck with me.

When you’re trying to close a deal. Shut up! Or get thrown out!

Real handwriting generates 14% response rate. Wow!

Friday, April 16th, 2010

How many times have you received direct mail with your name on it?  How many times has the letter had a signature at the bottom?

How many times did you feel it was “fake”!

Tons right?  Yeah.  Me too.

We all know that it’s easy for marketers to personalize letters.  And the signature is always printed (impersonally).  We know it’s not a real signature.

But we found a smart way to use real handwriting in an effort that generated an unprecedented 14% response rate.

direct mailer for marketing

There’s this guy in the next town over who created a machine that actually uses a pen to write the addresses, entire letters, and signatures on your mail pieces.  You can choose among different styles of handwriting that have been programmed into the machine using different “real people’s” handwriting.

It’s a bit slow and adds some cost to your effort.  But it’s just soooo neat.  And the results are just sooo awesome.  So the ROI is totally worth it!

The press release, the bin and the trash can.

Thursday, April 15th, 2010

The press release, the bin and the trash can.

Waaaaaayyyy back… I worked for a newspaper called The Journal.  There was a fax machine that sat in the corner of the newsroom.  And right next to the fax machine was a bin to collect the faxes.  And just to the right, on the floor, there was a trash can.

Each day, the newspaper would receive a bunch of faxes.  Most were very well written press releases.  Some were advertisements.  And others were hastily written press releases.

All of the faxes that came in went into the bin beside the fax machine.

At the end of the day or the following morning an intern (or whoever was the lowest on the totem pole) would grab the stack of faxes from the bin… sort through them… and then THROW THEM AWAY.

Maybe… possibly… once in a while… a fax might spur a story idea.  But I can’t really remember the exact scenario.  In fact, I’m probably being kind to the efforts of thousands of PR professionals to even give credit to such a memory.

I tell this story because recently a client implored my firm to start doing press releases.  They said, “Our marketing director used to do that!  We need you to do that now!”

The MarketSmart take on this:

No one reads press releases.  Journalists don’t put press releases in newspapers.  And people are hardly reading newspapers anymore.

So don’t bother.

UPDATE to: 4 ways to really offend people with your email marketing efforts.

Monday, April 12th, 2010

So the super-short post about emails and how they offend people got some people to ask me to elaborate.  So here goes…

1- Offer no way to unsubcribe.

I subscribe to a lot of things.  I like to try ‘em out.  So I get on a lot of email lists.  And I’m not afraid.  Because I know I can unsubscribe at any time.  But every once in a while I can’t unsubscribe.  The marketer doesn’t want me to.  They want to have a one-way conversation with me without my permission.  I HATE THAT!  So the number one thing you can do to offend people with your email is “to offer no way to unsubscribe.”

2- Make it really difficult to unsubscribe.

Ok.  So this goes with number one.  And I think it’s probably self-explanatory.  But just to be clear…  Email marketers should make it EASY to unsubscribe.  Don’t make me jump through hoops.  The date is over.  I don’t want to dance and I certainly don’t want to kiss.  Please let me end it easily.  If you use Constant Contact or Mail Chimp.  They help you do this.  They’re great!

3- Try to trick people in one way or another.

Ah!  This one is a doosey!  Tricking people.  BAAAAAADDDDD!  That should be a no-brainer.  But recently I got an email promoting a free report that sounded soooo fabulous.  So I went to get the report.  But then they asked me for more information.  Huh?  Then I gave them the information only to get a report that was really a one-sheet flier with a lot of pictures.  NOT a report.  I was duped.  I won’t buy from them!

4- Send emails that are irrelevant (and waste your prospects’ time).

Relevance is powerful.  We have one client (a travel/hotel company) with hotels in Ireland, England, France, Spain, Italy, Mexico and the Caribbean.  When they sent a mass blast to ALL their travel agents (clients) with one, general message… their open rate and click-thrus were sub-par (to say the least).  When we identified which agents specialize in each country and sent emails that were highly targeted and relevant (with information that appealed to each specialist), the results were off-the-charts.

Relevance.  It’s powerful.  It adds another step or two.  But the results and ROI are worth the extra trouble.

That’s it!

Increase sales more cost-efficiently- 3 steps to get your data cleaned up.

Thursday, April 8th, 2010

Everyone knows that marketing and sales is a numbers game.  But I bet your numbers are sloppy because your data is sloppy.   Don’t feel bad.  You’re not alone.  Most companies/organizations we’ve ever worked with had sloppy data resulting in sloppy numbers.  Even MarketSmart.

That’s because your data is constantly evolving and constantly changing.  Contacts get hired and fired.   Some are premium targets and others are stinkers that need to be purged.

Here are 3 surefire steps to get your data in order.

Step one- Collect all the data you have and put it all in folders.  Be sure to label each file name citing where it came from.  For instance, you might want to label sales leads garnered from the tradeshow in November as “TradeshowNOV”.  That way you can be more easily include an “origination field” or “source code” in the final database.   By doing so you’ll be able to sort your data more easily.

Step two- Send it to a trusted data manager (like MarketSmart! J).  Depending on your relationship with that vendor, you may want to have them sign a non-disclosure and/or non-compete agreement.  You don’t want your data to fall into the hands of your competitors.

Step three- Give your data manager this list of “things to do”:

  • Organize the lists with a composite “schema”.  In other words, take all the title fields from all the lists and create ONE, new data form with all of the titles you sent included in the new, composite list.
  • Be sure to remind them to include all the origination labels you created in step one.
  • Now that all the data is in one list, it’s time to get rid of absolute “dead wood”.  You can’t sell to people who are out of business or dead.  And you can’t market to people if you have the wrong mailing address.  Your data manager should use the U.S. Postal service NCOA (National Change of Address System) to determine who is no longer where they used to be and correct addresses that have changed.  The system will purge the bad targets.  Remember to ask the data manager to give you this purged list as a separate file so you can spot-check it.  You’ll be surprised to see that you will have eliminated people or companies you might have thought were worthwhile targets.
  • Next, CASS Certify the list.  This is another U.S. Postal system that helps correct lists that have incorrect addresses and misspellings.  Again, ask you data manager to send you this list.  I doubt you’ll need it.  But it’s worth having.
  • Last, merge-purge and de-dupe the lists.  Surely there are duplicates.  So it’s time to take all the combined data to get rid of them.   Your data manager can put some stringent requirements on this task.  In other words, you could de-dupe according to last name, last name and address, last name and address AND email, etc.  Work with your data manager to see the level of de-duplication you need.  You may not want to over do it.

Once your data is “cleansed”, you will reduce costs by reducing the time and effort you would otherwise waste time on prospects that are simply not worthwhile anymore.   Plus, now you should be able to take a serious look at your data to see which clients are producing the most revenue and profits for you.  Of course, maximizing your 80/20 is a subject for another blog post.

Success vs. Achievement (smart philosophy from MarketSmart)

Saturday, April 3rd, 2010

People are mixed up about two very important words- success and achievement.

A Thesaurus will tell you that success is achievement and achievement is success. They’re synonyms.  Right?  Wrong! I disagree.

And I believe the media, politicians, and even schoolteachers inadvertently confuse people by propagating the interchangeability of both words.   The problem is… achievement does not always yield a positive outcome.  Therefore, achievement can’t equal success.  For instance, some people achieve great heights by trampling on others either physically, emotionally or financially.  Is that honorable?  Are those achievements worthy of being sought after?  How about the drug dealer who makes a ton of money selling poison and death to children?  Will his achievement make him a “success story”?

Here’s the definition of success I learned from the best-selling author and speaker Earl Nightingale (founder of Nightingale/Conant- the world’s largest publisher and producer of self-development products).

Success is the pursuit of a worthy goal.

Conversely, achievement is attainment or the accomplishment of a goal or purpose.

Now this might take a minute to grasp because we’ve been taught otherwise for too long.  So stay with me.  All our lives we have been told that achievement equals success.  But that’s simply not the case.  Think of them as two very different concepts.

Let’s go back to my favorite definition.  Success is the pursuit of a worthy goal. It means that one will be, and will continue to be, successful as long as they simply pursue a worthy goal.

Here’s an example.  My 11-year-old daughter loves ponies and horses.  One day she decided to raise money for a wild mustang rancher in California who saves wild mustangs destined for the glue factory.  She called up some friends and asked them to help her bake and sell cookies for her cause.  Soon they were blasting out emails, texting, and chatting with 5th graders all over town promoting the idea.  A few hours later they had tons of cookies and over $480 in donations pledged.

Now.  When was my daughter successful?  Was it when she got the $480 in her hands?  When she sent the money to the mustang ranch?   When a news reporter decided she was successful and promoted her story in the media telling people what she accomplished?

No.  My daughter was successful every moment she pursued her worthy goal.  From the moment she decided she was going to do something positive and every step of the way thereafter, she was successful.

Success is the journey.  Using this definition, you can be successful every moment.  While we pursue a worthy goal, every step we take, every word we say or write, and everything we do that leads up to our attainment of that worthy goal makes us successful.

Simply stated, we are successful as long as decide to pursue worthy goals and act upon that decision.  Not when we attain them (as we have been taught).

Living a successful life and running a successful business are the same.  They both require us to decide upon several worthy goals and continuously take steps to pursue them.  Those who do achieve great things on the path called “success”.

The MarketSmart take on it all: You can have achievements without success.  But you can’t achieve anything worthy without being successful.