Emotional Intelligence: The Foundation of Leadership Ability

Emotional Intelligence is the capacity to recognize and respect not only how you feel, but also how those with whom you interact feel. Emotional Intelligence also helps you to manage your emotions effectively, both in your inner life and in your relationshipsAlternately known as EQ and often portrayed as a qualitative, subjective yin (female) counterpart to the data-driven, measurable and objective yang (masculine) IQ, EI entails more than displaying empathy and being kind, or “sensitive.”

Ongoing research has presented credible evidence that supports EI as a different, but nevertheless valid and beneficial, form of human intelligence. Psychologists, organizational development specialists and leadership development coaches recognize EI as a core life skill that promotes one’s ability to deliver excellent performances, particularly in the domain of leadership. There is no absolutist blueprint, or model, that codifies EI, but there are variations on a standard theme that have been developed primarily by psychologists and organizational behavior specialists. I recently discovered the work of Emotional Intelligence researchers Daniel Goleman and Richard Boyatzis.

Goleman has written extensively on the topic of EI. He is co-director of the Consortium for Research on Emotional Intelligence in Organizations at Rutgers University in Newark, NJ and he is the author of Building Blocks of Emotional Intelligence (2017) a 12-primer set on each of the EI competencies that he co-discovered. He also offers training on those competencies through an online learning platform. Boyatzis is a professor in the departments of Organizational Behavior, Psychology and Cognitive Science at the Weatherhead School of Management at Case Western Reserve University in Cleveland, OH and he’s been recognized as a Distinguished University Professor there. He is a co-founder of the Coaching Research Lab and co-author of Helping People Change (2019). According to Goleman and Boyatzis those who aspire to become exceptional leaders will need to develop a balance of strengths across the suite of EI competencies. When that is achieved, outstanding business results will follow.

Goleman and Boyatzis see as EI consisting of four domains—Self-Awareness, Self-Management, Social Awareness and Relationship Management—and connected to each domain are 12 EI competencies. When you’ve mastered the domains and the competencies associated with each category, you will possess capabilities that allow you to be an adept at team player or a practitioner of inspirational leadership, as the situation requires. Below is a capsule view of the domains and the related competencies.

Self-Awareness

This domain refers to the ability to read and understand your emotions as well as recognize their impact on others. In short, self-awareness is a basic understanding of how we feel and why we feel that way. The more we are aware of our feelings, the easier it becomes to manage our feelings and control how we might respond to others.

Those who have nurtured their EI capabilities achieve objectivity through the self-awareness that this form of intelligence develops. Leaders who have developed a high level of EI promote productive and motivated workplaces that give all workers equal opportunities to shine.

  • Emotional self-awareness: I know what I am doing and why
  • Accurate self-assessment: I am cognizant of my beliefs and mental models
  • Self-confidence: I am aware of my abilities, including strengths and weaknesses. I trust my judgment and have a sense of control in my life. I set realistic expectations and goals, communicate assertively and can handle criticism.

Self-management

Also known as self-regulation, this domain can be defined as the ability to manage one’s actions, thoughts and feelings in flexible way, in order to produce the desired results. Optimal self-management contributes to a sense of well-being, a sense of self-efficacy or confidence and a sense of connection to others. You are able to control impulsive feelings and behaviors, express your emotions in healthy ways, take initiative, follow through on commitments and adapt to changing circumstances.

  • Emotional Self-Control: You are able to keep potentially disruptive emotions and impulses in check and maintain your effectiveness under stressful or hostile conditions.
  • Achievement Orientation: You intend to meet or exceed a standard of excellence. You seek ways to do things better and improve outcome. You reasonably challenging goals and take calculated risks.
  • Positive Outlook: You are able to see the positive qualities and characteristics in people, situations, and events. You persist in pursuing goals, despite obstacles and setbacks.
  • Adaptability: You have the flexibility to handle change and juggle multiple demands, as you adapt your ideas or approaches to new and unexpected circumstances.

Social Awareness

Social Awareness is the ability to accurately notice the emotions of others and “read” situations appropriately. It is about sensing what other people are thinking and feeling, to be able to take their perspective using your capacity for empathy. Those adept in the qualities of this domain are able to read another person’s face, voice, body language and other verbal or nonverbal cues that communicate emotion and help direct us as to how we should speak and otherwise interact with that individual.

  • Empathy: The ability to sense others’ feelings and perspectives, take an active interest in their concerns and recognize cues about what others may feel and think. Goleman further describes empathy as the cognitive and emotional processes that bind people together in various kinds of relationships that permit sharing experiences as well as understanding of others.
  • Organizational Awareness: The ability to read a group’s emotional currents and power relationships, identifying influencers, networks, and organizational dynamics.

Relationship Management

This domain pulls together and integrates the other three domains and creates the final product, relationship management. Relationship management can be used to influence those around us and guide or encourage them to make good decisions. You can sense other’s reactions to situations and then fine-tune a response to move the interaction in a positive direction.

Relationship management proficiency also addresses teamwork and other collaborations.
You’ve learned to use the skills acquired in the other domains to steer the group toward
the goal. Furthermore, proficiency in relationship management promotes the ability to effectively manage conflict. Those who become particularly adept in this area can see that conflict is forming and take steps to move others away from this and toward more positive interactions. Effective Listening skills and empathy are essential to deal with these difficult conversations.

  • Influence: The ability to have a positive impact on others, to persuade and convince others in order to gain their support.
  • Coach and Mentor: The ability to foster the long-term learning or development of others by giving feedback, guidance, and support.
  • Conflict Management: The ability to help others through emotional or tense situations, tactfully bringing disagreements into the open and finding solutions all can endorse.
  • Inspirational Leadership: The ability to inspire and guide individuals and groups towards a meaningful vision of excellence, and to bring out the best in others.
  • Teamwork: The ability to work with others towards a shared goal; participating actively, sharing responsibility and rewards, and contributing to the capability of the team.

You can evaluate and improve your EI skills. Goleman and Boyatzkis recommend a 360-degree assessment, to receive systematic, objective observations of your behavior by people who work with you. Incidentally, EI has been found to not correlate well with IQ or personality traits, but the two values are the best predictors of a leader’s effectiveness, actual business performance, engagement, professional and personal satisfaction. A 360-degree assessment tool that uses ratings generated by you and those who know you well can reveal your EI current strengths and suggest where your EI needs improvement. To best improve your weak spots, find a leadership development expert to coach you.

Thanks for reading,

Kim

Image: Philadelphia Flyers coach John Tortorella

Should You Outsource? Think It Through.

I’ll wager that the biggest obstacle Freelancers and small business owners face is limited time. There are so many responsibilities you must manage in order to keep the show on the road. Now look at the bright side—if you’ve got lots to do, it means that your business is growing and has the potential to grow even more. Your stumbling block is, most likely, that you have a small team (maybe just yourself) and you struggle to get your arms around a list of important decisions to make and other responsibilities that demand your attention. You may also have deadlines looming`.

You always assumed, but the point has now been emphatically made, that productivity is a key ingredient in the recipe for success. It’s imperative that you have the focus and ingenuity to develop goals and objectives that will promote your mission and then create and execute strategies and action plans that bring your plans to life. If you’re overwhelmed and stressed by an unmanageable to-do list, you’ll be unable to perform at peak efficiency. Circumstances will force you to make a change because at some point, every business owner must address the challenge of how to get the work done— on time, on budget and in ways that deliver a rewarding customer experience.

Spoiler alert—all potential solutions, including the choice of keeping the status quo (and eroding both the success you’ve created and your health), require that you spend money. The good new is, if you’ve objectively assessed your situation and determined how to efficiently handle your responsibilities, you will be positioned to increase productivity and business revenue.

Weighing your options

The process begins by confirming the tasks that must get done, acknowledging if anyone other than yourself can be reasonably expected to successfully perform certain tasks and documenting the number of days in a typical week you face a backlog of work. If you frequently work more than 50 hours per week, that indicates you’d benefit from bringing in help. If you frequently work more than 60 hours per week, that indicates you’d benefit from a full-time or part-time employee (W-2 tax form). If your need of assistance is more intermittent, for example, during the last week of the month or one or two afternoons a week, outsourcing (1099NEC tax form) is your best solution.

Make an honest assessment of your time, abilities, preferences and money. Furthermore, once you’ve decided which tasks are unsuitable for you, own the tasks that can be most effectively done by you. For example, it will likely be for the best that anytime the face of your brand must be represented, you, business owner, should be present. However, a number of office-based functions can be effectively handled by a savvy outsourced professional. An outsourced marketing expert will be able to suggest goals, objectives and strategies to jump-start growth in ways that the business owner may not immediately envision. A bookkeeper who has experience working with small or mid-size companies will not only bring the entity’s accounts up to a high standard of detail and accuracy but can also advise on issues such as cash-flow problems.

Accept that it may be too expensive for you to perform certain tasks if it diminishes your pursuit of billable hours. In general, if a certain task takes you or your team too long to do, it probably makes sense to outsource the function, especially if it’s something that must be done on a regular basis. Furthermore, if a task is highly specialized, it may make sense to outsource it to someone who spends their time immersed in that particular function and has a real expertise.

Consider outsourcing functions when:

  • You don’t have the ability to adequately perform the task
  • You have the ability to do the work, but dislike doing it
  • You have the ability to do the task, but the time needed to get it done is unacceptable (maybe because it’s specialized and you and your team lack the expertise)
  • You’ve realized how much billable time you’re losing by performing tasks that you could pay someone else to do (for less than your own billable rate).

Enable outsourcing success

Establish goals and define expectations for this new role in your organization, so that you can create a good experience for yourself, your team and the specialist(s) you bring in to provide outsourced services. It will be very useful to include in your productivity improvement journey an outsourced Human Relations professional who specializes in job analysis. This individual will discuss and confirm your recommendations of tasks that might be successfully outsourced and responsibilities that will be best handled by you, or current staff. Your outsourced HR adviser can also develop job specs, review and discuss your performance objectives and suggest the compensation you should offer to whom you’d like to hire.

Benefits of outsourced talent:

  • Cost: When you outsource certain tasks or services, you don’t have to pay the same wages as you would if you hired an in-house employee. Hiring outsourced talent is a way to manage fixed operating expenses as you nurture business growth. Furthermore, outsourced talent does not come with costs associated with in-house employees, such as taxes, insurance, holiday and vacation pay and other workplace expenses.
  • Efficiency: By outsourcing, you can free-up yourself and your team to focus on more important aspects of your business. This allows you to be more productive and get more done in less time.
  • Talent: Outsourcing is an attractive option when you need specialized skills or expertise only on an intermittent or short-term basis. Outsourcing gives you on-demand access to talent that would be impractical to permanently hire.
  • Scalability: If you have access to a larger pool of talent and resources, your business can scale up quickly without incurring the expenses associated with hiring W-2 employees or configuring additional office space, or even additional equipment rental fees. Chances are, your outsourced experts work remotely.

How to choose the right provider

When looking for the right expert to handle those functions you’ve decided to outsource, consider the provider’s specific industry experience. Choose providers who have excellent references and communicate well. When outsourcing critical functions or handling sensitive information, data security and confidentiality are of paramount importance. Assess the outsourcing partner’s security protocols, compliance with industry standards and measures to protect intellectual property. Evaluate their data protection policies, employee training, and physical and digital security measures to ensure the safety and integrity of your confidential information. Cultural fit and values alignment between your organization and the outsourced specialist are often overlooked but can significantly impact the success of the working relationship. Consider factors such as work ethics, corporate culture and shared values to ensure a smooth integration and collaboration.

Frequently outsourced functions:

  • Accounting and bookkeeping: Outsourcing accounting and bookkeeping services can not only save time, but also ensure that business cash is well-managed. You will be grateful when, for example, cash-flow is efficiently managed and you can make better business decisions. Moreover, you’ll be relieved to know that the business complies with tax regulations.
  • Human resources: Outsourced HR services can provide cost-effective solutions should you need to hire additional employees and decide whether the new hires should be brought in as employees or outsourced specialists. Your HR specialist can also create the job specs and refine your organization’s new customer or new hire on-boarding process, to ensure that all paperwork is present and written correctly and see to it that you present a seamless experience that reflects well on your brand.
  • Payroll: Outsourcing payroll services will save time and money by eliminating the need to close books or run reports after every payroll cycle. Regarding new hires and contractors, your outsourced payroll expert will ensure that all tax forms are sent in the on-boarding materials and that information to guarantee timely payment is included and signed by both parties.
  • Information technology: Outsourcing IT services can be beneficial for small businesses that need access to technical expertise without the overhead costs associated with hiring in-house IT staff. You must have a network that consistently delivers peak efficiency. Seamless and reliable IT performance is a necessity.
  • Customer support: Outsourcing customer support services can help your organization provide better customer service without having to hire additional staff or invest in expensive technology solutions that may not deliver the relationship-building personal touch that your organization needs.
  • Legal services: Outsourcing legal services can be a cost-effective way for small businesses to gain access to legal expertise without the onerous expense of paying to add the salary of an in-house attorney or law firm to your payroll. Depending on your needs, it may be smart to negotiate a retainer fee, if legal advice is a regular requirement. Otherwise, contact a business, patent, employment, or other attorney on an as-needed basis.
  • Marketing: Outsourced marketing services can be beneficial when you need help creating and executing marketing strategies, running campaigns and tracking results. Your outsourced marketing expert will introduce marketing automation to your company, or will optimize the automation system you have in place. This specialist will also maintain your social media accounts and ensure timely responses to comments and questions.
  • Web design and development: Outsourcing website design and development services can bring a level of design and technical expertise to your website that you and your team do not possess, even if coding skills are available in-house. Your inbound marketing and marketing automation depend heavily on an attractively, intuitively designed site that downloads quickly and operates efficiently. Your website designer may also provide technical support services that keep your site up and running, as noted above.
  • Virtual assistance: Virtual assistants provide administrative support services for tasks that may include scheduling appointments, managing emails, making travel arrangements and more–allowing small business owners to focus on running their business instead of getting bogged down with mundane tasks. Many virtual assistants offer specialist digital and social media marketing services, helping you attract new customers and some offer specialized accounting and bookkeeping services.

Thanks for reading,

Kim

Image: Stephen Root as Milton Waddams in Office Space (1999), directed by Mike Judge

Stir Up Your Sales Strategy

Because you have set up shop as an independent business owner, consistently generating sales of your product or service is central to your existence. Whether your company’s revenue is derived mostly from the sales of long-standing customers or from new arrivals (some of whom are referred by long-standing customers, I hope) and whether your economic landscape is brimming with opportunity or undermined by difficulty, the presence of a sales strategy that consistently produces revenue for your enterprise is a matter of survival. The performance of your sales strategy is not a phenomenon that you can leave to serendipity. It’s a vital sign that deserves your constant attention. Should sales become sluggish, or on the other hand unexpectedly vigorous, you’d better know why it’s happening. If the significant movement in your sales trend is anything other than a seasonal variation, it will be incumbent upon you to diagnose the situation and fix it.

As we’ve explored in this column over the past several months, B2B selling encompasses several factors. It’s a lot to keep your eye on, but that’s the nature of the beast:

  • A robust inbound marketing funnel that invites prospects to explore and consider your products and services
  • Communicating the perceived value of your products or services
  • Asking smart questions that invite prospects to share information that confirms what s/he hopes to achieve when using your category of product or service.

Building a robust sales engine that helps your entity survive the inevitable economic downturns is required of every business owner. Understanding your ideal customer, recognizing which Key Performance Index metrics are relevant, meaning you follow the numbers that reflect an accurate picture of business operations and diversifying the sales channels you use, all with the goal of increasing sales volume, are the primary components of a resilient sales strategy.

Even the invincible iPhone has a sales strategy because there is no product that “sells itself.” Develop and implement a successful sales strategy and you enable your business to not only survive economic challenges but also be positioned for growth and long-term success.

Define your ideal customer

To successfully navigate through business adversity, a deep understanding of your ideal customer will be your guide. You need to know who they are and why they buy from you, instead of a competitor. Along with basic demographic info, you should also comprehend customer pain points, i.e., buying motivations, plus the usual challenges they face and what they hope to achieve once their preferred solution is enacted.

As you discuss the needs of your prospects and the particulars of the project you’ve been hired to do, as well as other conversations you may have with the customer, you’ll be able to conduct in-depth research, gather feedback and eventually get a picture of your ideal customer and what matters most when your category of product or service is used. You research will enable you to create a buyer persona, a sophisticated reference document that identifies and describes your ideal customer, his/her motivations and behaviors.

By understanding your customers well, you can tailor your sales approach to address their specific needs. This not only enhances your value proposition but also establishes trust and credibility. When customers feel heard and understood, they are more likely to choose your products or services, even during challenging economic conditions.

Define and recognize success

A robust sales process relies on clear and measurable metrics. Key Performance Indicators (KPIs) are the metrics that become your compass, a roadmap of the numeric indicators of company performance. If business softens, following a data-driven approach to bring about a recovery is the best defense.

Identify and define KPIs that align with your sales objectives. These may include the sales conversion rate, number of new customers, number of returning customers, average invoice amount and sales cycle length. Regularly monitor and analyze these metrics to identify trends and areas for improvement. By having a data-driven sales process, you can quickly adjust strategies and tactics to respond to changing market conditions.

Identify new sales channels

Relying too heavily on a single sales channel can leave your business vulnerable during economic downturns. To build resilience, diversify your sales efforts by locating additional channels. Investigate both online and offline avenues that align with your target audience and industry.

So if you primarily sell products at pop-up venues, consider expanding into e-commerce and/or strategic partnerships with local stores. Diversification not only expands your reach but also spreads the risk. When one channel faces challenges, others can continue to generate revenue, helping your business weather downturns more effectively.

Utilize technology and automation

In an unpredictable business environment, leveraging digital tools becomes essential for sales resilience. Integrate customer relationship management (CRM) systems to gain insights into customer behaviors and preferences. These platforms enable your sales team to fine-tune your customer outreach activities, prioritize leads and enhance customer interactions. Additionally, consider automating routine tasks such as email follow-ups. Marketing automation not only ensures that every customer request receives a response in a timely and appropriate fashion, but also allows you to concentrate on building relationships that lead to generating revenue.

Finally, because your B2B prospects are not always available for either video or telephone meetings, it’s also wise to invest in virtual communication tools. Platforms for videoconferencing and virtual demos ensure continuous engagement with clients, bridging any physical gaps. By embracing digital transformation, your business is better positioned to navigate economic uncertainties efficiently.

Thanks for reading,

Kim

Image: © Wang Huazhong / China Daily. Shoppers browse for bowls at the Barkhor Shopping Mall in the Kham region of Lhasa in eastern Tibet.

What Creating Value Means Now

https://neilpatel.com/blog/create-value-in-b2b-markets/

When providing B2B products and services is the focus of your business, it has always been necessary to create, demonstrate value as a means to attract and retain customers. Perceived value, often delivered as convenience, simplicity or cost saving, is a time-honored motivating factor in this sector. Of course you understand this basic calculus but like everything else, as business conditions, technological advancements, shifts in population, or the cost of living are impacted by various factors, then how value is perceived will also evolve. To complicate matters, you can also throw in the question of how value can be not only created, but also maintained and expanded. To dive into this subject, I turned to marketing savant Neil Patel.

As I knew he would, Neil Patel provides a practical explanation of how the potentially confusing matter of B2B value might best be approached and delivered when instability is the order of the day. To start, he segments customer buying behavior into five areas and labels them as “particularly important for B2B markets since these customers are keenly aware of and interested in anything that gives them an edge or adds to their success”.

  • Response – The knowledge that someone understands your problem and is ready to solve it
  • Service – The ability to clearly spell out the details while eliminating all of the risk (or perceived risk). Can also affect the credibility and trustworthiness of the company depending on how well they handle service-related needs.
  • Quality – A consistent formula that results in well-made products or services that help the customer achieve their goal(s)
  • Price – An assigned value that’s clear, practical and competitive
  • Time – The product or service is dependable, has a sensible learning curve, demonstrates clear return on investment in a shorter period

Having identified factors that were identified as decisive in both his corporate practice, which includes global players such as Amazon, Intuit and Microsoft, as well as the work he does with much smaller B2B entities, he discovered an uncomfortable truth—B2B customers aren’t going to tell you what they want. In fact, they may not immediately recognize, or are unable to describe, the value that will activate their Buy Now button. Your prospects cannot paint a picture of what they’re really looking for and that makes it very difficult for you to offer reasonable solutions that might be evaluated. But the good news is that Patel recognizes that the five decisive factors that govern perceived B2B value can be measured and they can be impacted and improved.

You Are More than Your Product or Service

All of these things add to the core value of the product and/or service, making it so much more. Companies that fail to demonstrate the benefits of these things in ways that customers can understand and appreciate will find themselves hard-pressed to justify the value of their product – particularly where price is concerned.

Notice that there’s one (very important) factor I’ve left out of the value puzzle – trust. Trust supersedes all of the other motivations in this list – however, it’s not something that can be outwardly measured. If you don’t have the customer’s attention, you can build up all of the other facets as much as you like, and you’ll get absolutely nowhere with them. But building trust centers on ensuring that you have the rest of the factors presented in a way that’s relatable, understandable and most importantly, actionable.

All that will happen only when the five critical factors are in place and leading you to create value thar customers will recognize, when they see it.

All of these things add to the core value of the product, making it so much more. Companies that fail to demonstrate the benefits of these things in ways that customers can understand and appreciate will find themselves hard-pressed to justify the value of their product – particularly where price is concerned.

So Why Is So Much of “Creating Value” Focused on the Price?

A lot of discussions about creating value center on price – but this perspective is misleading at best. The truth is, all of the other four facets of value-building: response, time, quality and service, make it possible to justify the price. If the customer isn’t on board with any one of them, you’ll have a hard time closing the sale.

Competing on price alone is a race to the bottom for B2B companies

So how to you make sure that the customer doesn’t simply hinge on price? Follow these steps:

Discover What the Customer is Willing to Pay For

Notice I didn’t say “discover what the customer is willing to pay”. You can uncover a great deal about what a customer values by simply talking to them. They’ll make it abundantly clear if you ask the right questions, especially where previous vendors are concerned. Everything from technical support and training to white-label options is on the table here, and when you find a collection of things that’s high on their priority list, you can:

Hit All the Right Buttons

B2B buying decisions are rarely made by one person. You’ll need to have the whole C-suite, marketing, sales and other executive members of the team on board – and all of them value different things. Don’t hesitate to demonstrate how your product or service can affect a priority of the marketing department, save hours of time for sales and otherwise provide demonstrable ROI to the C-suite. With this in mind, perhaps most importantly, you should:

Sell the Results, Not the Features

Don’t just tell them about the benefits, let them envision the outcomes for themselves. Always remember that the first use of your product or service is in your customer’s mind. When you can communicate the ROI they get in real, measurable ways – whether that return is in profits, time saved or anything else the customer values, you’ll have their attention and most likely their name on the client roster.

Never Stop Improving

Finally, even if you’ve created a fine-tuned money-printing Value Machine, your work is still not done. Even though you’re not competing purely on price, if a competitor can demonstrate that they provide similar (or superior) benefits at a lower price, you’ll find yourself on the defense. In order to continually outperform the competition, it pays to have a finger on the pulse of not only trends within your industry, but trends within your customers’ industries as well.

Thanks for reading,

Kim

Image: Work crew drilling through solid rock to create the Panama Canal, Panama, 1906 (Everett Historical)

Build Buzz with Good Word-of-Mouth

Word-of-mouth marketing is still the most powerful marketing tool for most businesses, along with an ad that appears during the Super Bowl. In a study conducted by Nielson, the global media insight company, “Global Trust in Advertising”, 83% of responders said they trust the recommendations of friends and family most of all. A study done by McKinsey showed that 20-50% of all purchases are influenced by word-of-mouth marketing.

Positive comments, reviews and recommendations are powerful—don’t underestimate them. Face2Face and online conversations started by you, your customers and even potential referral sources are among the most valuable marketing assets available. Positive talk contributes to your brand’s reputation. Business owners and marketers who take the initiative to build a word-of-mouth marketing strategy can create a steady drumbeat of customer conversations that have the potential to generate new business. User experiences drive word-of-mouth marketing, mostly fueled by product customer recommendations and reviews.

Engage on social media

Social media sites, including Facebook, Twitter, Instagram. Pinterest and Snapchat, are tools that amplify your word-of-mouth advertising. Communicate with your customers, solve problems and build your referral network by way of your preferred social media platforms (and also your company website).

Quick response to questions and complaints.

Not all customer experiences will be positive ones, but the right approach can make all the difference. Being proactive about complaints can turn dissatisfied customers into your most loyal brand advocates. Stepping up your response time and personalizing customer care can cement your positive reputation—within four hours, ideally.

Email marketing outreach

Using email to communicate regularly with customers and prospects who have requested to be on your mailing list helps them remember you and brings in repeat business. If you’re regularly providing interesting information, discount coupons, useful how-to articles, or other material customers want, they’ll update friends who have similar interests about the benefits they’ve derived. 

Influencers and brand ambassadors

Although most word-of-mouth marketing is focused on organic engagement, don’t neglect the value of influencer marketing. Having influencers shout out your product or give it a review not only introduces you to a new audience but once again serves as social proof. In fact, recent data shows that reviews are actually considered “the most valuable type of content” that influencers publish. Chances are there are relevant influencers out there that’d be the perfect fit for your brand. If you already have a dedicated customer base, you might alternatively consider starting your own ambassador program.

Reviews and recommendations

It’s been shown that 41% of shoppers say that “robust” online reviews (featuring photos, keywords and more) are important for a positive shopping experience. Potential shoppers will notice that these testimonials are not present and you will be well-served to encourage your happy customers to speak up about what they like abut your company, products and services. Getting good reviews not only represents positive word-of-mouth but also a proven way to gain trust.

Much like user generated content, sometimes scoring reviews is as simple as asking. Ideally, this can be done non-intrusively via email. Many brands implement post-purchase auto-responders to ask for reviews by default, meaning that each purchase is a potential opportunity to earn a much-needed review.

But how you ask for reviews matters. Beyond putting on a smiling face, also consider additional incentives, Your customers’ time is valuable and sweetening the deal is worth it if it means a rave review.

Monitor mentions and respond ASAP to comments.

Do yourself a favor and make sure to respond within 24 hours, and ideally within 4 hours, to customer questions, comments and concerns. accordingly. As you build your brand, your quick, polite and complete responses will be imperative.

  • Respond to all customer questions, comments and concerns
  • Defuse difficult situations and negative comments
  • Keep track of your conversation history so you can build better relationships with customers

Encourage user-generated content

Global brands can easily generate user-generated content but regional and local brands will find it useful to promote their company #hashtags and even customer photo campaigns. Along with your own company photos (hint: start building your photo library!), invite your customers to share photos and feedback. To increase the visibility of your user generated content, try the following:

  • Feature a hashtag (and call-to-action) in your bio, perhaps on Instagram or Twitter, and encourage customers, friends and family to share photos
  • Include invitations for customers to promote hashtags on-site, in-person and via email (see an example below)
  • Regularly publish and re-post user generated content in your content calendar

Share positive reviews and customer testimonials online.

When you do receive positive attention and word of mouth advertising, do not keep it a secret. Share that valuable information online, where the world can see it. Take the initiative to use customer re-posts and re-tweets and into your promotion strategy.

Building buzz for your business and your brand will take time and effort, but the steps you take today will pay dividends tomorrow. Word of mouth advertising is not for sale at any price, but it is the most valuable form of marketing your company can receive. The eight strategies listed above will give you a starting point, but the rest is up to you.

Thank your customers for their business.

Everyone likes to be appreciated, and customers are no exception. While you may have the words printed on receipts or included in email confirmations of sales, or you or your staff may say “Thanks” in person, doing something such as sending a handwritten thank you card to new customers or a returning customer will set you apart as a business who cares about their customers and is worth recommending.

Thanks for reading,

Kim

Image: Photographed by Bert Morgan (1904-1986) on the golf course at the Everglades Club in Palm Beach, FL circa 1940.

Maximize Email Marketing ROI

Email marketing campaigns continue to generate solid returns on the time and money spent to produce them and for that reason the format remains among the most effective marketing strategies one can undertake. Email itself is a tremendously popular communication tool as evidenced by a Statista report that shows as of August 2023, 4.73 billion people globally use email. Better still for marketers, 61% of consumers prefer to hear from companies they’re interested in by way of email.

The emails you compose for campaigns require thought, as does all of the marketing content you produce for publication. As always, your objective is to devise clear and concise messages that have an easily recognizable purpose that resonates with email recipients. Your core theme is the most important component of the email, but there are other factors that shape and influence its impact. Below are eight important actions you can take to enhance the success of your email marketing campaigns and improve the odds that your customer outreach will produce the results you need and, best of all, nurture relationships with your clients and prospects.

1. Irresistible subject line

It’s more than likely that those on your mailing list receive dozens of emails each day. How do you convince these busy people to click on your message? Seduce them with your subject line! Maybe it’s amusing or maybe it’s a tad outrageous, but it’s definitely an eye-catching hook that makes the recipient curious enough to click and read.

2. Concise compelling message

Be mindful of the length of your email. Convey your thoughts succinctly. Express your message in simple language and avoid business jargon. For in-depth discussion of a topic, write a short introductory blurb, an abstract, and link to the details.

3. Call-to-action

What would you like your email readers to do, now that you have their attention? Your email needs a purpose—otherwise, why are we having this conversation? You might ask recipients to click a link and leave their contact info, so that the reader can, e.g., RSVP to attend the workshop you’ll teach, schedule an appointment with you, receive the link to a podcast where you were a guest, buy your book, or vote on election day.

4. Image or video

Readers respond to images, whether still or video, that illustrate the purpose of your email campaign. If you include a video, three minutes is your target maximum length.

5. Easy-to-follow layout and graphics

Use spacing and images to break up big chunks of text and make longer emails less intimidating. Choose one font style and use it consistently throughout the email. The idea is to visually please the recipient and literally tempt the eye to linger, look— and read.

6. Cleaned up address list

Holding on to customer email addresses from years ago is understandable — growing an email list is challenging. However, email data becomes obsolete at an average pace of 23% annually, so it makes sense to regularly monitor the accuracy of your mailing list. Check the bounce rate and either delete or correct invalid addresses. When more than 2% of emails bounce back, your company begins to look like a spammer to inbox providers and your emails will be sent to spam files as a result.

7. Follow-up with customers

Getting a reply from one of your subscribers is email marketing gold. Whether they’re writing back to share feedback or ask a question, it shows they care and want to further communicate with you. What’s more, replies are good for email deliverability as inbox providers see them as a sign of trust. Ensure you respond to all emails. Ignoring a message from a customer is unacceptable.

8. Document results

Along with the overall bounce rate and the identity of undeliverable emails, study your campaign open rate and check to see who opens, or doesn’t open, your emails. Use your email analytics and tracking to measure the success of campaigns and make data-driven improvements. Hint: monitor the open rate to discover which topics have the largest percentage of recipient opens and let that guide your content choices.

Thanks for reading,

Kim

Image: © Keystone View Company (1902). A Letter from Pat in America Young Irish woman reading a letter from a relative in America to an older woman outside of a thatch-roofed stone cottage.

“What’s In the Budget For This Project?”

Hallelujah! A prospect you’ve courted for quite some time has finally agreed to consider using you for a project. You’ve been invited to meet with a couple of members of the project team. You’re preparing for the meeting like a seasoned pro and that includes asking questions that show the prospective client’s priorities matter to you. You’ll ask about the ideal outcomes for the project, how the project fits in with long-term company goals and how a successful project is expected to promote brand awareness and grow the customer base. You’ll ask who will make the decision as to the vendor and when that decision will be made.

You know the right questions will ensure that you understand what the project is expected to achieve and confirm your ability to produce the deliverables. The right questions also signal to the prospect that you intend to meet or exceed expectations. But after you’ve inquired about the project specs, remember to ask another question, an essential question that is sometimes neglected—-the amount of money that’s been earmarked for the project budget. Without ascertaining this vital piece of information, you cannot move forward. To think that you can write a credible proposal without first discussing at least a ballpark price is unfair to both yourself and the prospect. Do you shop without looking at the price tags? Of course not.

The budget is a critical component of the project specs and there must be transparency. Without knowing how much money can be made available, neither you nor the prospect will know if either can afford to do the project until the proposal has been sent and that is too late. When the money talk is omitted from the project specs discussion, decision-makers and stakeholders waste time.

Money talks are intimidating for many. You’re thrilled to be invited to meet with a prospect and you want to make a sale, you want to get to yes. However, if you’re going to be a successful Freelance consultant, you must learn how to discuss money. The money talk brings on the big reveal—-can the prospect afford to work with you (and the flip side, can you afford to work with this company)?

As you know, attitudes about money are an emotional issue and you won’t know how the prospect will respond until you go there. Some prospects are comfortable being up-front and transparent about the budget. Others are not that evolved—- they jolly well know their budget, but they don’t want to tell you. Oh, well!

Nevertheless, you must face up to your money talk and tiptoe through whatever emotional baggage your prospect may have. Here are three direct but polite money talk icebreakers that are guaranteed to make it comfortable for your soon-to-be client to be candid about the budget before you write the proposal. If you’ve done it right, you and the prospect will first discuss the pertinent matters, including budget, and your proposal will confirm in writing what the parties have agreed to.

  1. Is your budget in the hundreds or the thousands?

This question quickly helps you understand the resources that your prospect is willing and able to invest in the project. If the response in the thousands, you can further clarify by asking if an amount that seems reasonable would be in the thousands or tens of thousands?

2. Are you thinking $500, $5,000, or $50,000? 

This question encourages the prospect to verbalize a spending range for the project. Remember, these are not your actual prices; these are numbers that make it easier and less intimidating for the client to express what s/he can afford.

3. Would an amount somewhere between $7,000 and $10,000 be affordable?

Suggesting to the prospect a range that’s close to the higher end of what you’d likely charge for that type of project is another good tactic. This question lets you know what type of services the prospect can afford and will make it clear to both of you if it’s worth moving forward with you as the project vendor. Fish or cut bait.

Finally, if you choose to give a verbal estimate, say the price, or the range, and be quiet. Silence gives your prospect an opportunity to consider the price and respond. Silence also communicates that you have confidence in your price. The worst thing you can do is announce your price and then offer to negotiate it down before the prospect has had a chance to say yes or no. Resist the urge to say, “Will that work for you?” Or “We can negotiate that if it’s too much!”

The best lesson you can learn as a Freelance consulting professional is that your time and talent are worth money and you deserve to exclusively work with clients who value what you bring to the table. Those who who attempt to wheedle or bully you into accepting a price that does not reflect your estimation of the value of your services is best avoided. Have the courage and the self-respect to walk away, as disappointing as it is. There’s no point in wasting it on a proposal for a client who can’t afford you.

Having money conversations is not an art–it just takes confidence and practice.

Thanks for reading,

Kim

Image: Anand Purohit/Getty Images. An Indian lady is shopping and is ready to pay in rupees.

Recipe For A Winning 4th Quarter Finish

Ready, set, win! In business and in life, it’s not where you start it’s where you finish. When the bell rings at the end of the game—the end of the year—with all your heart, you want to be a winner. Whatever you’ve experienced this year, whether you struggled to close deals or were touched by an angel, your performance in the fourth quarter is going to be impactful. I think it’s safe to say that you’re motivated to leave no stone unturned as you aim to close out 2023 with a victory.

The 4th quarter officially begins on October 1 and summer ends on September 22, but you’re about ready to kick-off your year-end sprint now that September has arrived. It’s time to go full speed ahead; optimizing your visibility to potential customers and referral sources can be the wind at your at your back. Start your campaign by identifying organizations and venues that sponsor programs that align with your brand and will bring you and your company to the attention of the right decision-makers. Your objective is to position yourself as an expert, thought leader and trustworthy professional who, BTW, can deliver solutions to a certain target market and make those who hire you look good. Here are a few strategies that when implemented will propel you out of the starting gate and toward the year-end finish line.

Elevator pitch

You’ll have two or three versions of varying lengths that correspond to the person you meet but in general your elevator pitch , which is an introduction to you, your company and your product or service, should be 20-40 seconds long. Your name and the company name, what you do, for whom you do it (i.e., your typical client) and the primary benefit (outcomes) delivered are what you want to communicate. Hone your pitch until you can define your venture in just a couple of punchy sentences.  An effective elevator pitch will grab the interest of the listener, showcase your mission and get people hooked on your vision, all in less than one minute.

Personal brand

It’s not unusual to confuse reputation with the personal brand, but the two are not interchangeable. Reputation is earned and acquired, influenced by how you behave and communicate. It is external and reflects how others see you.  

Your personal brand, on the other hand, is internal and intentional. It’s also aspirational and is based on how you’d like others to see you. It’s your preferred identity, your unique selling proposition and what sets you apart from competitors.

 Personal branding involves creating and communicating a compelling story about yourself, maintaining a professional demeanor and nurturing a reputation that positions you as trustworthy and dependable. Remember that your brand reflects your core values and purpose, it should resonate with your target audience and inspire their loyalty and respect.

Networking

Networking is the process of meeting and greeting, having conversations and getting to know colleagues and competitors so that you can exchange information, find common ground and develop professional or social contacts. Once in a while, you might be lucky enough to meet someone who becomes a real friend.

You’ll find opportunities to network wherever you meet people. The essence of successful networking isn’t about what someone can do for you; it’s about what you can do for them. Ideally, the experience of networking results in win-win outcomes. The best networking agenda is to create value, be a resource and forge genuine relationships, so that you and your network will support one another.

Social media

Whether your preferred platform is LinkedIn, Facebook, Instagram, Twitter or TikTok, establishing a consistent presence on social media will be a key element in your strategy to maintain visibility in your professional sector. Keep your audience engaged with promotional content, industry insights, interesting company updates and behind-the-scenes peeks, leavened with a dash of your charismatic personality. Because your customers and prospects feel more comfortable doing business with those they feel they know, make your content relatable.

Content marketing

Content is king, but not just anything will do. The content that you produce—text, visual, audio—must give the information and tell the stories that your clients and prospects find meaningful. Your content must also be high-quality, engaging and impactful to tell a memorable story , communicate your expertise and nurture your community. As well, remember that content marketing sidesteps a hard sell.

The format is about providing valuable insights, stimulating conversation and showcasing your genius to the audience. Publishing a blog and/or newsletter that explores topics that interest your target audience, producing or taking a guest spot on webinars and/or podcasts that allow you to personally speak to subjects you explore in your blog and/or newsletter posts are standard B2B content that you’ll post on your website and social media sites or send to your email marketing list. Creating video clips that show you engaged in a local charity event, receiving an award that honors your volunteer work, or even a clip of you decorating your office for the holidays are among the visual content possibilities you might use to present a less formal and more relatable aspect of yourself.

Public speaking

Public speaking opportunities are plentiful these days; your task is to identify venues that deliver your target audience. Panels, webinars, workshops, podcasts, rotary clubs or the chamber of commerce provide great venues for speakers.

If the very idea of public speaking gives you butterflies in the belly, start small and build your speaking skills. Practice in front of a mirror, practice and record yourself on your smartphone. Joining a panel or being a guest on a webinar or podcast are good ways to gain experience and build your confidence, as you get exposure to an audience that might bring you a customer or a referral. Soon, you’ll be commanding the room and leading the conversation in your industry. Public speaking is an investment with dividends in credibility, authority and a wider audience reach.

Press releases and media spotlight

While self-promotion is vital, third-party validation is perceived as impartial and objective and for those reasons, articles that appear in the media have the most credibility. Earned media is the term; to approach media outlets and invite them to in some way include you and your company in a feature, you must make contact with journalists or editors with press releases.

Journalists traffic in stories that they feel will interest their readers (or viewers), so your objective to obtain earned media must be based on a story that the media outlet’s audience will value. Write a press release when you win a business award, when you’re scheduled to appear on a local (or national!) television program, or when you’ll participate in a visible way in a noteworthy charitable event in your community. The story you’d like to share must be enticing and relevant to the publication’s audience. If done consistently and with viable story angles, media features can provide immense visibility and position you as a thought leader in your field.

Guest posts, podcasts, webinars

Engaging with your audience in virtual real-time has become standard practice in the digital era. There are now hundreds of podcasts and webinars broadcast nearly every day. More than just a knowledge-sharing medium, webinars and live sessions nurture a sense of community and belonging. They facilitate connection between you and your audience, fostering a dialogue that’s both dynamic and personal. The topic of your podcast or webinar session and information shared must deliver value to the audience.

Expand your writing credits and your reach by guest posting on popular industry blogs. Be sure to return the favor and occasionally invite a guest blogger to write for you and gain new readers as you do. Guest posting gives you exposure to a broader audience and solidifies your position as an industry expert. Whether you are the host or a guest, podcasts are a fantastic platform for showcasing your insights, opinions and your unique perspectives.

Thanks for reading,

Kim

Image: West Aurora, IL High School’s Victoria “Tori” Spagnola, left, wins the 300-meter hurdles race. Alexandra Johnson, right. (June 2021)

8 Digital Productivity Tools

Freelancer friend, if you’re doing things right, you’re working in the zone and maintaining a steady flow, doing things like managing your client work, generating content for inbound marketing campaigns that fill your sales pipeline and invoicing clients so you’ll get paid, for example. There’s a lot on your plate and making good use of time is a must.

Maximizing productivity is the way to get through your to-do list. Recognizing where you can create operational efficiencies is integral to the process. How wonderful that there are numerous, easy to use online tools that can be of service. You are certain to find that a modest investment in digital productivity tools can pay big dividends, allowing you to save time, show clients that you’re organized and in control of project details and reduce your stress level. Here are eight online tools that can help you get more good things done and give you more time to relax as well.

1. Project managementProProfs Project $19.99/month (solopreneur)

The right project management software can replace several of the tools you’re using now, to monitor and evaluate the progress of your project, collaborate with clients, share files and feedback, create reports and more. Here’s an online tool that will simplify planning and scheduling of your projects, allow you to quickly view your project, delegate tasks and schedule deadlines all in one dashboard. The platform is a straightforward and user-friendly software solution designed for small to medium-sized businesses across different industries. Keep clients in the loop and let them see that the project is moving forward and you are on top of things.

https://www.proprofsproject.com/

2. Time tracking and invoicingMy Hours free; or $6/user/month

Time tracking software helps employers and workers keep track of time spent on various tasks, projects and other deliverables. You can use this tool to stay organized, whether you’re working solo for a client or when you must track both your own hours and those of subcontractors you’ve brought in to help you.

  • Time tracking: You efficiently keep track of how your employees/ sub-contractors spend their time while on the job.
  • Timesheets: Timesheets calculate the work your employees/ subcontractors perform in terms of billable hours and make client billing and invoicing faster and easier.
  • Reporting: Most time tracking software creates reports on active employee/ subcontractor hours, tasks they complete and more.
  • Integrations: Seamless integrations with project management and communication tools such as Salesforce, Asana and Slack, tools your client probably uses.
  • Mobile app: With a mobile app, you (and your employees or subcontractors) can efficiently manage reporting and tallying billable hours from anywhere.

https://myhours.com/billing-invoicing

3. Digital walletsApple Pay 1.5 % fee applied to each transfer of funds to debit card or bank account when using Instant Transfer.

Digital wallets are apps that enable you to store and use credit cards, debit cards, passes, tickets, ID cards, gift cards, reservations, boarding passes, coupons, membership cards and whatever else that you need to store safely and access easily. So many transactions are now online, I think you’ll agree that it’s time to properly organize and safeguard your important records and receipts? Digital wallets are more secure and convenient than traditional physical wallets and can be used to make payments or transfer money directly from your smartphone.

https://www.apple.com/apple-pay/

4. WritingHemingway Editor free or $19.99 one-time payment

Are you producing relevant content that showcases you as a thought leader and expert in your field? Of course you are and that means you do a lot of writing. Hemingway Editor will do more than Microsoft Word grammar and spell check to correctly identify spelling and grammatical errors in your text. The software also illustrates which of your sentences are too clumsy and wordy and suggests alternative words and phrases that are simple, eloquent and make you sound like a silver tongued genius (which is the whole idea!).

You can type directly into Hemingway Editor or, if you don’t want to be bothered with its recommendations while you write, paste your draft text into the tool for edits when you’ve finished writing.

https://hemingwayapp.com/

5. Social Media Management—-Meet Edgar $29.99/ month

A social media management platform that allows you to create a library of posts that can be scheduled to appear on the accounts you choose and at a day/time you specify. In other words, if you’re creating content today that will be ideal for a campaign or occasion that will take place six weeks from now, you won’t have to remember to dig into the file (and hope you can find it), you just save and schedule and know your great content will show up where and when you like. You’ll also receive data that lets you analyze how your content performs on the various platforms you use.

https://meetedgar.com/

6. Email Management—-SaneBox $7/month

This handy tool works with every email platform and, by using Artificial Intelligence and machine learning, figures out which of your emails is important and which are not so urgent. Low priority emails are placed in a “SaneLater” folder, while important emails remain in your inbox to receive your immediate attention. Better still, you can learn which emails you’ve sent that have not received a reply, automatically save email attachments to your cloud filing platform and quickly unsubscribe from mailing lists.

https://www.sanebox.com/

7. SchedulingCalendly free or max. $12/user/month

Regardless of your appointment-setting needs, your scheduling software should present your business in a professional light while simplifying the booking process on both ends. The best appointment scheduling apps offer the practical mix of flexibility and ease of use. They save you time (and headaches) by allowing clients to make appointments with you on their own, as well as cancel or reschedule as needed. At every touchpoint, provide a pleasantly efficient and memorable customer experience.

https://calendly.com

8. Online signaturesDocuSign $10/month (solopreneur)

Here’s an electronic signature platform that will speed-up and simplify your signature processes, all while providing better customer experience and document management. Electronic signature software allows you and your clients to quickly and easily digitally sign contracts or other documents. Whether you need to sign an IRS Form W-9 or authorize an electronic invoice payment agreement as part of client onboarding, your clients will appreciate, and be impressed by, digital signature capability.

https://www.docusign.com/plans-and-pricing

Happy Labor Day and thanks for reading,

Kim

Getting PR: On-Message Expert Source

Not every Freelancer enjoys selling, but every Freelancer knows that selling is the name of the game. You may have a kickin’ inbound marketing strategy that keeps your pipeline filled with good prospects but if you want to close deals, you’ll have to sell. It’s a fact of life—-Freelancers and all business owners are more or less forever in selling mode, always on and ready to promote the brand.

Then again, there are times when it pays to shut off your sales spiel because it won’t work. Social events are the usual no-fly zone for a sales pitch but there is another, less obvious, scenario where a sales pitch is a faux-pas—when speaking with a journalist. Surprise! It may feel counterintuitive, but it is a fact. When you’re lucky enough to win the PR jackpot that a conversation with a journalist brings, anything beyond your short form elevator pitch, presented as self-introduction, is inappropriate. What sounds like a sales pitch is a turn-off to reporters. Here’s why.

One, the journalist is not your prospect. S/he is not interested in buying your product or service. Resist the temptation to sell someone. Two, it’s not the journalist’s job to sell your product or service, so why would you waste time explaining features and benefits and how your offerings are so much better than the competition’s? Don’t go there.

A journalist’s purpose in life is to tell stories that interest and inform readers. To do that, they must identify compelling topics. They also need facts and expert opinions to convince readers of the relevance of the stories. When an invitation to speak with a journalist arrives, a media savvy Freelancer knows to present yourself as a successful entrepreneur and expert, a qualified source who will be on-message and make the reporter look good.

Be the expert source

When a journalist puts out a request for contributors on whatever topic, as is done at Help A Reporter Out http:// http://HelpAReporter.com , it’s your chance to pitch yourself first and foremost as an industry expert. The reporter is searching for a source, a credible expert who can produce a few good bullet points on the topic before deadline. Your products or services take a backseat.

If you are chosen for follow-up, prepare ahead of your interview and be ready with three or four succinct and punchy, memorable quotes. If one or more of your quotes is included in the article, even if the publication is small and local, you’ll reap the benefits that earned media, PR, can bring—-credibility, trust and exposure to new prospects. That’s a lot more impactful than any sales pitch you can make.

If the reporter has in mind a profile that spotlights one or more entrepreneurs, discussion of your product or service may be integral to the story. If that’s the case, avoid the technical, in-the-weeds aspects and instead, focus on the benefits and value-added that clients receive from your product or service. Use the five W’s of journalism to create bullet points for a product or service overview:

  • Who does your product or service help?
  • What is unique about your product or service?
  • Why should readers care?
  • Where is this being used?
  • When should someone use your product?

Credentials have clout

Before reaching out, a reporter in search of a good source will probably tour your social media accounts to see the content you’ve posted. If you’ve built up a significant following, so much the better, but the size of your following may not be the most important factor when evaluating a potential expert source.

Journalists trust academic and professional credentials and that trust can outweigh even a sizable social media following. While social media might help journalists discover you, they’re looking for someone who can truly educate their audience. Emphasize your degrees, certifications, experience and awards to establish credibility when introducing yourself as an expert source to the media. If your social media following is impressive, by all mean include it.

  • Education (PhD., MD, CPA, MBA)
  • Professional (university professor, partner at a law firm)
  • Achievements (published a book, awards and citations received)
  • Media exposure (copies of articles in which you’ve been quoted)

Thanks for reading,

Kim

Image: Ukrainian President Volodymyr Zelensky (R) is in uniform and on-message at a joint press conference with Canadian Prime Minister Justin Trudeau in Kyiv.