Monthly Archives: March 2023

Marketing , Leave a comment

10 Tips to Energize Email Marketing

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Email marketing remains an effective and valuable practice that deserves a place in the marketing strategy of Freelancers and other small business owners. If you haven’t explored email marketing as a way to promote your venture, read on and learn why you will reap benefits from developing email marketing campaigns and how to maximize their success.

Data supplied by Statista, the Germany-based marketing info giant, reports that an estimated 4.3+ billion citizens of planet Earth use email. Maybe that’s why email marketing continues to be central to our business and personal lives? Email marketing campaigns will help you to promote your products and services, acquire new customers or retain current customers, increase your venture’s annual revenue and position yourself as a thought leader and expert in your field.

Email marketing remains one of the most effective forms of outbound marketing, whether you send email appeals and announcements to prospects and current customers or publish a company blog or newsletter. According to data from the e-commerce company Oberlo, 81% of small business owners use email marketing as their primary method of customer acquisition and 80% use email marketing outreach to support customer retention. Marketing researchers have calculated that email marketing campaigns generate an average ROI of $43 for every $1.00 spent. In 2022, B2B and B2C email marketing campaigns combined generated $9.62B in sales revenues.

  1. Update your list. Review your address list each month and follow-up on all emails that “bounce,” that is, are returned. Verify and update the address or delete the name.
  2. Personalize greeting. Your readers likely have little use for a emails that are addressed to no one in particular and reek of spam. Impersonal mailings are not endearing and are usually deleted. Your email marketing distribution service has the capability to personally address the communications you send.
  3. Opt-in, opt-out, sign-up. To grow your database, make it easy for those who’d like to follow you and/or subscribe to your emails by making your sign-up/ opt-in link visible. On the other hand, those who’d rather not receive your mailings should be able to easily decline them. The unsubscribe/ opt-out link is usually placed at the end of the email.
  4. Customize templates. Represent and promote the value of your brand by having a custom template designed for your marketing communications. The cost is modest and will give your campaigns a professional look that is immediately recognizable to your audience. Choose a template design that is uncluttered and visually cohesive. Also, since more than half of the audience will view your emails on a mobile device, confirm that your marketing service uses responsive design.
  5. Relevant content. Know the topics that will interest your readers. Stay current in your knowledge of national and local developments by regularly reading nationally focused business publications and the business section of your local newspaper. Furthermore, it’s helpful to create a marketing calendar, because some topics are seasonal and your information should be timely so that it will be useful. In other words, if your email will discuss taxes, keep in mind the filing dates for quarterly and annual taxes. As well, keep in mind the Pareto principle, best known as the 80/20 rule, to keep audience engagement high. Make about 80% of your content educational and no more than 20% self-promotional. In time, your audience will come to trust you as a source of helpful information, which will keep them opening your emails. Your emails are about the reading audience and not about you.
  6. Tempting subject line. Give readers an incentive to open your emails by creating subject lines that command attention. The subject line is the most important element of a marketing email. If it’s not compelling, your email will be swiftly deleted. A good subject line often arouses curiosity or surprise. It may even shock recipients, or make them laugh. A well-crafted subject line makes recipients want to go further and find out what you have to say.
  7. Interactive extras. Every so often, give readers something unexpected and interesting to see or do as they skim through your content. Devise a one or two question survey to let them tell you how they feel about an issue. Not only will you get to know them better, they’ll appreciate that you value their opinions. A 60-90 second audio and/ or video clip that showcases something they’ll find useful is another good tactic. Including an image that ties into the message and purpose of the email is yet another good idea. Limiting extras to a maximum of two is suggested, to avoid clutter or sensory overload.
  8. Social media teasers. Before emails are sent, post a line or two of content on social media as a way to cross promote and expand the audience for your mailings. Let social media visitors know that the content is exclusive to your email list and use this incentive to increase sign-ups.
  9. One irresistible call-to-action. The purpose of your emails is to convince readers to do something—-hire you, watch your webinar, read your case study, come out to meet you and hear you speak. If email recipients don’t know what you want them to do within 20 seconds of opening your email, whether that’s visiting a page, calling a phone number, or completing a form, they will most likely click and delete.
  10. Consistent schedule. Whether you send a newsletter, blog post, or marketing letters once a quarter, once a month, or once a week—-every Tuesday at 11:00 AM Eastern or the 15th of every month—-be consistent. Predictability breeds trust.

FYI, as of March 5, 2023, data supplied by the email marketing company Constant Contact reported on email open rates in various industries and a sampling is below. As of January 2023, the combined B2B and B2C sales conversion rate of email marketing campaigns was 8.17%.

  • Administrative support—billing, phone answering—29.1%
  • Business consulting—marketing, advertising, management–28.3%
  • Financial services—accounting, bookkeeping, insurance–27.1%
  • Technology services–19.3%
  • Health & wellness–home care, nutrition, dental, medical–35.3%
  • Cleaning, contractors, landscaping–38.6%

Thanks for reading,

Kim

Image: Invented by Edward E. Kleinschmidt in 1914, the high speed teletype machine allowed users to both send and receive typed messages and was a major breakthrough in telecommunications technology. The picture shows teletype machines being used in England during WWII.

Sales , , Leave a comment

Unspoken Desires: What B2B Clients Really Want

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The punchline of today’s story is that your clients say one thing and mean another. Surprise! Those of you who sell or provide B2B products or services know that prospects present themselves to Freelancers and sales reps as dispassionate decision-makers who demand value and aim to minimize costs as they operate in the harsh realities of tech company lay-offs, bank failures, inflation, war and the lingering aftershocks of the coronavirus shutdown. Oh, and they’d also like the products or services they buy to save them time, because time is money.

However Ron Friedman, PhD, a psychologist who studies human motivation, surveyed 2,128 office workers in the U.S, U.K, France, Germany, Spain and Italy discovered some additional, unspoken, motivations of office workers who purchase B2B products or services.

Friedman and his team found that B2B customers favor interactions that cater to certain psychological needs, even when satisfying those needs costs the company more money and time. The findings suggest that what humans really want are choice (control, power), meaningful connections with others (relatedness) and opportunities to grow skills that are important to them (mastery).

Let’s dive in to get more insights and understand how you can leverage these unspoken motivations as you and your prospective clients discuss your products and services.

Choice trumps problem-solving

When Friedman’s study subjects were asked if they prefer to discuss and potentially buy from a B2B services provider a single solution that can solve their problem or help achieve their goal, or be offered two or more potential solutions that they must evaluate and then select their preferred remedy, the ability to choose won out.

When a prospect is presented with a single, presumably effective, solution that’s expected to resolve the goal or problem at issue, time is automatically saved. Still, 58% of Friedman’s study subjects preferred the opportunity to choose and, it seems, the power that came with it. The ability to choose was considered desirable, even when going through the selection process did not provide additional benefits, e.g., better results or money and time saved.

Connection overrules time

Most prospects didn’t mind that extra time was spent to review and evaluate the available options that guide their choice of a solution. Although waiting for a human being to reply to an email or pick up the phone might require twice the time and provided no other benefits (in either case, participants were assured their problem would be solved), waiting twice as long to speak with a human being was preferred by nearly three-quarters of participants (74%).

Furthermore, respondents much prefer to know who they’re doing business with. When asked to rate what they consider to be satisfactory or unsatisfactory customer service delivered by the sales reps and other service providers they interact with, study subjects rated just 33% of vendors they didn’t really know as providing “satisfactory” service, but 70% of vendors who received “satisfactory” ratings were known personally by the respondents. In other words, the experience of close connection and impressions of good service are linked.

Experiences that expand horizons

Human beings enjoy learning new skills and being exposed to new experiences. It makes life interesting and expands our horizons. It’s good for self-esteem. Keep that affinity for learning in mind as you discuss your product or service with prospects as you simultaneously show respect for their expertise.

The process of acknowledging the prospect’s skill set, I.e., mastery, and providing a learning opportunity starts when you offer the choice of potential solutions to the problem or pathways to achieving the goal, as noted above.

When you are hired to work on a project (another empowering choice that the prospect, now a client, gets to make) and carrying out the client’s preferred solution, you can as well satisfy the (unspoken) desire to learn by giving him/her an inside look at how you apply the solution and make it work. For your client, this can appeal to the desire to keep his/her skills up to date in a rapidly changing economy and workplace.

What might these findings tell us about the rising popularity of marketing automation? Freelancers and other business owners have used the software to facilitate engagement and bring in point-of- service online sales. New and returning clients have gravitated to contactless interactions where, other than choice, psychological motives are not addressed.

Since 70% of Friedman’s survey respondents feel positively about customer service interactions when they are handled by someone they know, that does leave 30% who are OK working with someone they don’t know (contactless engagement). Also, the power of choice remains, which is an important factor for most.

Finally, prospects who explore your products and services on your website or social media platforms always have the option to contact you (or your team) and initiate direct conversations when choice, connection that may lead to relatedness and learning opportunities that expand mastery can take place.

Thanks for reading and welcome spring!

Kim

Image: © Netflix/ Mark Bourdillon. L-R Matt Lucas, Prue Leith, Paul Hollywood and Noel Fielding of The Great British Baking Show illustrate our unspoken desires.

Sales , , Leave a comment

Speed Date: How to Connect With Clients Faster

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Time is money and relationships matter. Those sometimes conflicting realities must be confronted when, for example, you meet someone who may become a prospective client by chance, maybe at a business association meeting or even at a backyard barbecue. Somehow you two start talking and along with names and what brought each of you to the event, what each of you does for a living is revealed and it’s an aha! moment. As luck would have it, your new acquaintance is looking for a talented Freelancer with your kind of expertise to get an upcoming project done. Excellent!—now how do you connect quickly and start the process of establishing trust and rapport with someone you’ve only just met?

Building a relationship that you’d like to expand to include business requires finesse. It may be off-putting to appear to rush things but if you don’t move it along, your opportunity to do business may stall out.

Because you’ve only just met, each of you is an unknown quantity to the other. You’ve shared only cursory information but a spark has been ignited. The next step a successful Freelancer takes is to swiftly move to build a connection with this intriguing person. Happily, there are a few effective and easily executed hacks that in short order can help you steer the relationship in the right direction and avoid a cringeworthy scene as you do.

1. Repeat after me

Your prospect wants to know that you understand what s/he needs your product or service to deliver. There are simple and intuitive ways to convey that you “get it” as you and your prospect discuss the possibility of doing business.

One good way is to confirm that you’re on the same wavelength is to incorporate, that is, repeat, a few key words or short phrases that your prospect uses to describe what s/he wants to achieve. Do that and you’ll communicate to the prospect that you two literally speak the same language.

2. Feel their pain

Empathy is an essential component of every healthy relationship. When your goal is to fast- track a serendipitous meeting and build it into a mutually beneficial experience, acknowledge the urgency, excitement, importance, concern and/ or stress that motivates your prospect to seek a solution and demonstrate that you not only understand what s/he wants to achieve, and why, but you also validate his/her reasoning and judgment.

What motivates your prospect to obtain a solution and address the matter may be a problem to solve or a success to celebrate. While in conversation, your job is to affirm good news or encourage a prospect who faces a challenge. Either way, describe how your product or service can expertly and efficiently either save the day or maximize a happy occasion.

3. Sum it up

Confirm your understanding of what your prospect would like to achieve with the assistance of your products or services and you’ll boost the prospect’s confidence as you do. The budding relationship will strengthen as your prospect’s confidence, trust and comfort level grows. Sum up the points made by yourself and the prospect, distilling and paraphrasing what each of you has said, and confirm that you see the big picture of what your prospect has in mind and your capability to fulfill the objectives.

If for some reason either of you has misinterpreted or omitted some relevant information, a correction and reconfirmation can be quickly made. Showing the prospect that you’ve listened and understand his/ her priorities, concerns and goals is, BTW, a compliment and a sign of respect. Your prospect will know that s/he has been heard and that his/her feelings, judgment, priorities and goals are valued.

4. Next steps

While your prospect is basking in the glow of having found a capable, trustworthy, good-natured problem-solver who appears to be someone with whom s/ he can connect and work successfully, suggest that the two of you schedule a face2face or video meeting. It is in your interest to move the process steadily forward and into substantive talks. You have business to discuss!

Thanks for reading,

Kim

Image: In 1977, actress Marlo Thomas was invited to be interviewed on The Phil Donahue (talk) Show. I watched the episode and it was something to see! No doubt about it, Phil and Marlo connected in a live broadcast from Chicago. The couple married in 1980. They live in Manhattan.

Professional Development , Leave a comment

Board Service Is A Win-Win

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Creating and recognizing networking opportunities is a subject often addressed in this column, as regular readers know. One networking method that’s been less frequently discussed is serving on a not-for-profit organization board of directors or committee. I’ve served on half dozen boards over the years and have found the experiences to be rewarding, especially in terms of professional development and filling my network with smart, fun and interesting people. If time allows, I recommend that you consider serving on a board. To confirm that your role will be a good fit, you might first volunteer to provide day-of help at a special event sponsored by an organization whose mission is meaningful to you. If the volunteer experiment goes well, then inquire about joining a committee before making a commitment to join the board.

Serving on a not-for-profit board of directors or committee can potentially bring long-lasting personal and professional benefits. It’s a decision that you’re unlikely to regret. The ability to help an organization realize its vision and mission is tremendously rewarding. Service as a not-for-profit board or committee member inevitably involve responsibilities that teach you how other organizations operate. Board and committee service or other pro bono work can also enable you to develop or reclaim competencies either within or outside of your primary skill set. Board members are sure to learn more about marketing, governance, finance, branding, recruiting and managing volunteers. In some instances, your board or committee may embark on a project on behalf of the organization that calls for members to meet or collaborate with local politicians or community leaders.

Prospective clients, especially those who adhere to the growing corporate social responsibility movement, will be pleased to see your record of board service and other pro bono activities when they review your curriculum vitae, bio, or social media profiles. You may discover that you can “do well by doing good.”

When seriously considering board or committee service, remember to ask questions that clarify what will be expected of you. For example, ask how often, when and where board meetings are held and whether there will be business to conduct between meetings. You’ll also want to confirm the length of your term.

Since fundraising is a standard part of not-for-profit organizations, board members are almost always expected to participate in fundraising in some fashion. That often starts with a financial contribution that may have a suggested minimum amount.

Be aware that not-for-profit boards sometimes look for additional members because there are problems in the organization. Other motivating factors may be a pending major fundraising campaign or big project that’s on the horizon. Make it a point to have a frank discussion with a board member whom you trust about any current or past problems within the organization or with other board members. You’ll also want to know if the organization is financially healthy and whether there are any pending lawsuits.

There are caveats—-walk in with your eyes open. The benefits of board service typically include:

1. Exercise team working skills: Offer to chair a committee and you’ll quickly position yourself as a leader. Not only will fellow board and committee members appreciate your initiative, but you’ll also be able to fine-tune your group dynamics competencies as you work to motivate people who are not being paid to fulfill their roles so that your committee goals will be achieved. It’s called volunteer management and it is a subtle art!

2. Improve decision-making skills: It seems as though the appearance of the coronavirus and the subsequent year-long (or thereabouts) shutdown has caused nearly every organization to reassess and regroup because customers, donors and patrons have reevaluated their priorities. Inflation and the threat of recession have in some cases eroded the donor base and/or the patron or customer bases. Organizations must be nimble and resourceful. Leadership teams, staff and board, must understand risk management—risks to take and risks to avoid. Smart decision-making has never been more important.

3. Sharpen financial management skills: As a board member, you are responsible for the organization’s fiscal health. The ability to analyze the monthly financial documents and interpret the story that they reveal is a critical skill. Parsing the financials in board meetings, even if you are “only” listening to the board’s finance committee chair or treasurer giving reports, will improve your ability to understand and interpret your own businesses’ financial documents and improve the financial management and oversight at your own venture.

4. Gain the confidence to fund raise: In not-for-profit organizations, donor cultivation is a must. Many people, however, are uncomfortable with asking for money. Remember that recruiting donations is no different than asking for a customer’s business. It’s all about believing in your organization’s mission and relying on that trust and confidence to coax yourself into asking a donor to make a financial commitment to the cause.

5. Revitalize seldom used skills and develop new ones: Doing what you know is the most natural way to demonstrate your value to the board or committee, but it’s an exciting growth opportunity when you dare to try new things. Board or committee service is a safe place to take chances, something we cannot often do in our paid professions. Stepping into a role that requires you to reactivate a seldom-used skill or learn a new competency that you find interesting will enhance your commitment to and enjoyment of your board or committee service. Just do it!

6. Building relationships and networking

In your tenure as a board of directors or committee member you are almost guaranteed to meet successful and interesting professionals, some active and some retired. Your fellow board and committee members may hold, or have held, mid-level or senior positions in the for-profit or not-for-profit sectors. Others may be Freelance solopreneurs or entrepreneurs who launched and operate their own enterprise.

With your fellow board and committee members, you will discuss routine business, puzzle through decisions that solve problems, strategize to take advantage of opportunities and in general, work collaboratively to keep the organization relevant and preparing for the future. As this happens, you business acumen, judgment, resourcefulness, creativity, work ethic and EQ will be on display.

A fellow board or committee member may grow to trust you enough to introduce you to a colleague who is in need of your skill set, whether as a Freelance consultant or a full- time employee. You may do the same for another board or committee member. Boards are all about building relationships and that is the primary gateway to success.

Thanks for reading,

Kim