Author Archives: Kim Clark

Marketing , , , Leave a comment

Self-Promotion that’s Savvy, Not Shameless

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If you do not put the word out about your talents, achievements and (perhaps discreetly) your ambitions, or if you do so ineptly, you are leaving money (and also a satisfying life, I think) on the table. Despite what some people would have you believe, no one finds success on their own. The self-made man is a myth. You are going to need some help along the way and to rally influential people to your side, you must let them know what you can do.

Bill Gates’ mother held a job at IBM that gave her access to a powerful person in the company, who agreed to meet with her son and his friend Paul Allen so that the two could explain the special project they were working on. As we know, their project eventually became Microsoft.

How to deliver your self-promotion

Effective self-promotion is a subtle and powerful communication skill. I consider it an art. It can be learned. Maybe we should start with what to avoid?

It’s frightfully easy to come off as obnoxious when telling others about how fabulous you are and the riveting details of your long list of magnificent, truly enviable, accomplishments. Most of us know that outright bragging is not cool, but we have also heard more than enough hyper-ambitious people pretending to be modest as they trot out a humble brag act at every opportunity.

Witnessing either spectacle usually induces an eye roll, if not a headache. But how can you show finesse and talk yourself up in a way that doesn’t turn off friends and colleagues?

A good Karma method is to be generous and share credit for your successes with those who helped you achieve them. There is a huge benefit associated with this generous act—- you gain allies. Your allies, because you’ve made it clear that you value them and their work, will be inclined to do you the enormous favor of promoting your magnificent achievements for you, which gives you much more credibility and influence than if you say it all yourself. So as you climb the ladder, not only will your allies help you, they’ll recruit more allies for the cause.

When to self-promote

Choose the politically correct time to self-promote. There are situations when one is expected to do so, but be aware that there are only so many opportunities available. Employees are invited to discuss their accomplishments at their annual performance review, when campaigning for a raise, or when seeking to interview for a promotion. Freelance consultants, when speaking with prospective clients or writing proposals with the aim of winning projects, are expected to spell out and sell their competencies, relevant experience and achievements.

What to promote

Make it known that you’ve earned a new educational degree or professional certification, the date, time and place of an important presentation you’ll deliver, or should you be invited to join a prestigious board.

Other self-promoting without penalty opps include announcing your appearance on a podcast, webinar, or panel. Announcing that you’ve written and published, or edited, a book is also a self-promoting bow you’re expected to take. Launching a workshop (that you must sell!) is another self-promotion gateway.

Where to self-promote

Especially since face2face events remain limited, savvy people know that social media is an acceptable self-promotion tool. Update your profiles as you upgrade your skills and announce your showcase events as appropriate.

Again, bring in some good Karma and acknowledge the achievements of your connections and contacts as they appear in your feed, so that your communication is not all outbound. Self-promotion, no matter how skillfully delivered, still requires good relationships in order to capitalize on your good work.

Thanks for reading,

Kim

Image: Steve Martin in The Jerk (1979) directed by Carl Reiner and written by Steve Martin

Sales , , 1 Comment

The 7 Best Words in Sales

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Because when we log into our email accounts to check inboxes, or go online to find out what’s happening in the world, we are not so much reading as scanning. We scan for what catches the eye and captures attention. What words might make us stop and click?

Determined marketers have gone to work on this question and come up with a list of words that open rate and click-through statistics verify have the power to grab the most blasé of us.

Keep these words in mind as you attempt to dream up catchy subject lines or titles for content you post—-marketing/ sales emails, titles for videos you’ll upload to your website and social media, article headlines for white papers, blog, or newsletter articles, calls to action.

Free

Who can resist something that’s free? Even if it refers to a product you’ll never use, the word free has the power to stop the scanning and make you read an email, article, or advertisement, if only a few words. When an email subject line or a CTA contains this word, particularly when written in bold or brightly colored script, the open rate will increase significantly.

Easy

The great philosophers and observers of human behavior centuries ago recognized that humans will nearly always gravitate to what we perceive as easy and avoid what appears to be difficult. More recently, behavioral scientists reconfirmed those observations.

As a Christmas gift when I was maybe five years old, Santa gave me an Easy Bake Oven, an irresistible product that was sold to me by way of numerous television commercials featured during programs known to be popular with my demographic cohort. It was an easy sell.

I was thrilled to pieces to find it under our tree on Christmas morning. I had the greatest time as I poured the cake flour that came with my oven into a bowl, added a small amount of liquid (milk? water?) and then stirred it up and poured the batter into the tiny cake pan that also came with the oven. My little cake was baked with heat supplied by two 100 watt light bulbs.

I remember whipping up little cakes on Saturday afternoons to serve to girlfriends at our tea parties, or to Mom and Dad. Kenner brought out the Easy Bake Oven in 1963 and in the first year sold 500,000 units. By 1997, more than 16 million ovens had been sold.

Best

Quality counts for many of us. When hunting for a product or service, you may as well check out the item that’s better than the rest. Best is a filter. It cuts through the clutter of what could be a waste of time.

Magazines and newspapers often publish a “Best of” list annually—schools, restaurants, dry cleaners, hardware stores, you name it. Invariably, “Best of” issues sell considerably more than others (with the possible exception of a Christmas issue, if that is published).

Limited

Fear of Missing Out is real, as documented by behavioral scientists and marketers. Making a sale is often assisted by creating both exclusivity and a sense of urgency. This item is special and its ownership confers a coveted status. Buy it now.

You

When creating written content meant to persuade, whether it’s a political speech, a marketing/ sales email, or a television commercial, using the second-person pronoun when communicating with readers shifts the tone to one that is conversational, relatable, friendly and quite effective. You understand, don’t you?

Because

The thing to remember is that the human brain appreciates an explanation. We like to know why something is the way it is, the backstory of a certain condition or set of circumstances.

When selling, addressing the question of why the prospect needs the product, service, or feature being sold is most effectively addressed with the associated benefits and benefits are where the word because comes in.

This product or service is the best available to fit your needs because it will help you to fulfill your need, achieve your objective. Tie your product, features and the actions you want people to take in with a rationale or explanation and prospects will be more inclined to take action.

Numbers

From the Three Musketeers to the 12 Days of Christmas, people like to see a lust that suggests or ranks something that they find valuable—-100 easy dessert recipes, 10 free golf courses in Michigan, the 7 best words in sales. Curiosity is aroused and the click is made.

Thanks for reading,

Kim

Image: Scrabble tiles

Business Strategy, Survival Strategies , , , , Leave a comment

Crash-Proof Your Business

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If there’s anything Freelancers and other business owners and leaders have learned over the past year is that positioning your company to survive adversity is high priority. Baking in stewardship policies that include risk management strategies designed to shield the company from the effects of marketplace instability (or maybe just a tough competitor) is a must-do.

Maintain the business in the way you maintain your home—painting the deck, caulking bathroom tiles, checking the foundation for cracks, putting a sealant on the driveway. When the inevitable blizzards and hurricanes arrive, you’ll weather the storms (earthquakes and tornadoes are something else again, of course).

There is no precise formula for the process. I recommend that business owners and leaders focus on the reliable benefits derived from this short list of basic resources: human capital, operational capabilities, a healthy culture and cash reserves.

Whether a solopreneur Freelancer or leader of a team of 100 or more, know that good leadership yields the best business results, in good times and bad. Those at the top of the organizational pyramid are the responsible party and have great influence on whether the venture finds success or failure. Creating a sustainable business model and obtaining sufficient start-up and working capital are how a good business is born. But there is more.

Company culture

Creating a healthy company culture is a business-sustaining strategy. Business owners and leaders should understand that when top-down and bottom- up communication is the norm, when leaders model a strong work ethic, when transparency and best practices are followed both internally and externally in customer relationships and when respect, coupled with a degree of autonomy, is given to employees at every level, a winning strategy, expressed through a healthy company culture, takes hold. Good company culture results in employees who are happy, productive and loyal to the organization.

Human capital

Providing skills-building training and coaching is an investment that also encourages employee loyalty and enables company leaders to maximize their productivity. Such policies and practices nurture company loyalty and come as close as possible to ensuring that when the going gets rough, the company will have a team dedicated to the organization and willing to work hard and smart to support a turnaround. This strategy also gives companies a reputation as a good place to work and acts as a magnet for top talent.

Strategy

The most effective business strategies are uncomplicated. Learn to distill yours down to one page. When speaking to your banker or potential investors, potential strategic partners, or high-level talent you’d like to hire, the ability to articulate a readily understandable and relatable business strategy will build confidence in you and the company you lead. Start clarifying and simplifying the strategy that guides your venture:

Vision for the future

Big picture goals (short-term, mid-range and long-term)

Key Performance Indicators and the department responsible for each

Top line revenue and market share, two metrics that indicate the quality of the business strategy.

Execution

Strategy is nothing without execution. An effective leader gets the plane into the air and flying at cruising altitude. To achieve that aim, properly trained staff, effective and intuitive workflow protocols, IT hardware and software that create operational efficiencies, quality control and an end-to-end positive customer experience are required. Errors, confusion and duplication of work undermine productivity, erode employee morale and result in weakened revenue and profit.

Defining the intended outcomes, practicing good communication, establishing efficient workflow organization, the required technology and the appropriate staffing level and expertise will likely repair obstacles to proper execution. Action plans, complete with departmental responsibility and due dates that the team consents to, ensure accountability and optimal results.

Cash

Small to mid-size companies would be wise to hold in reserve three to six months of projected operating expenses. That sum is meant to carry your company through a difficult time or allow you to take advantage of a business opportunity.

Bear in mind that every business is different. The amount of your company’s cash reserve will depend on where the company is. Start-up, new product launch, capital improvements campaign, or growth-expansion-scaling periods are not the time to build the reserve because available cash must be used to support those important initiatives. Discuss with your accountant about when it will make sense to start a capital reserve fund and how much it should hold.

It is also possible to use financing to build your company’s cash reserve and now may be the time to act. The SBA’s Paycheck Protection Program (PPP) Loan on March 30 was extended until May 31, 2021. The PPP Loan can be forgiven and essentially become a grant, but not every loan recipient is able to fulfill the qualifiers. Worse case scenario, the PPP must be repaid within two years at a 1% interest rate.

Thanks for reading,

Kim

Image: The Indy 500

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Touch Point Touché

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Listen, even before the coronavirus shutdown crashed our Income Statements, Freelancers were always on the lookout for opportunities that look promising. Few among us could afford to leave money on the table. We’ve always understood hustle.

Savvy Freelancers are able to spot not only external, but also internal, opportunities. I’m talking about the most basic level of Inbound Marketing and the Customer Experience. Meaning, successful Freelancers will pose the question—once I have the prospect’s attention, or I’ve converted the prospect into a customer, then what? Every interaction that a prospect has with your company—-website, social media, newsletter, email, phone call, employee—represents a marketing or sales opportunity.

Those interactions are known as touch points. Individually and collectively, touch points are powerful. They impact the ROI of marketing campaigns and they shape the customer experience. They guide prospects through the marketing/ sales funnel, i.e., the buyer’s journey, or disable it.

Touch points must first be identified and then managed carefully and assessed periodically, to monitor their resonance. Touch points nourish, or undermine, your company brand in many ways, including perceived trust, dependability and competence. They have the power to encourage, or discourage, repeat business, referrals and good word of mouth, ingredients that add to the bottom line. Let’s discuss some common touch points.

Website

Lead generation is fed by numerous streams but let’s consider the most basic leadgen tool—-your website. Regardless of how many pages yours contains, most visitors start with the home page. Your home page feeds the top of your marketing funnel, the TOFU, the widest part that gets the most visits of every website. Most visitors will go no further and ghost the site.

Make your home page a leadgen magnet by making it useful and relevant and maybe even exciting with links to meaningful content and visible at eye-level Calls to Action. Depending on your business, consider inviting visitors to click and schedule a free 30 minute consultation, click to read your blog or newsletter, click to RSVP for your upcoming webinar, or click to hear the YouTube replay of your recent podcast. Add a chat bot programmed to quickly answer common questions and save visitors time. Engage and inform your website visitors and make them want more. Maximize the potential of your home page touch points.

Follow-up

If half of life is showing up, the other half is follow-up. It seems obvious, but many business owners and Freelancers fail to respond to inquiries about doing business. Many neglect to reply to phone or email messages. They lose business cards they should keep. They don’t send that private chat message to ask for the best time and follow-up method when they’ve met a potential prospect.

Unless you’ve been hospitalized and the anesthesia is still in effect, give a prospect or current customer a timely reply, ideally on the same day or within 24 hours. If you’ve been unwell, or if there’s been a family emergency, respond as soon as possible and offer profuse apologies. Use follow-up touch points to demonstrate your professionalism.

Invoicing and payment

Three years ago, I (finally) made time to search for a B2B services invoice that could serve as the starting point for a design I would customize and lucky for me, I found something. I’m pleased with my new invoice and feel that it communicates my business name and brand well. I consider my invoice to be a great send-off touch point at the close of a project.

How payments are made is another consideration. Going paperless is an option that certain of your customers may find preferable to writing and mailing a check. Some will pay faster. If payments can be made on your website or Facebook, WhatsApp, or Instagram account, make it known that the process offers impeccable security protocols. Again, make the touch point that is the payment process secure and easy.

Customer service

Identify the kind of support that customers need and/ or appreciate after they’ve purchased your product or service. It is imperative that you enable the results and experience that your customer expects.

Invite the always useful feedback derived from a short, well-written customer survey, which is an element of customer service. Show customers that you appreciate that they’ve done business with your company and that you care about their post-purchase experience.

Employees and helpers

Train customer-facing staff. Clearly describe your expectations regarding the level of service that will be provided (white glove) and your interpretation of a positive attitude. Devise (and refine along the way) problem resolution protocols and empower employees to approve small, relatively inexpensive fixes without your involvement, to resolve uncomplicated issues quickly and enhance customer satisfaction.

While it is unacceptable to expect anyone to tolerate disrespect, encourage those who represent the company on your behalf to go the extra mile and give the benefit of the doubt to customers. Model the behavior you expect in how you treat them.

Thanks for reading,

Kim

Image: Detail of The Creation of Adam (Michelangelo c. 1508-1512) ceiling fresco in the Sistine Chapel Vatican City (Rome) Italy

Professional Development , , Leave a comment

Interns Go Virtual

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As a result of the COVID-19 shutdown, organizations around the world quickly made changes to how business was done and in many companies, a support system for the usual summer internship program was part of the updates. Perhaps company leaders realized that virtual internships present a unique opportunity for their program to operate across geographical boundaries and greatly expand the pool of desirable candidates?

Academic institutions likewise pivoted to remote during the 2020 shutdown and readied to enable internship programs in the new normal work and education environment. In May 2020, the University of Wisconsin at Madison released a white paper that discussed virtual format internships, their benefits for both the student intern and the hiring company and how to make the experience successful and rewarding for both parties. http://ccwt.wceruw.org/documents/CCWT_Report%20%2310_Online_Internships_Lit_Review_May2020.pdf

Freelancers and small business owners and leaders will occasionally bring in an intern or two, typically as a way to gain a reasonably capable assistant who can be trained to handle uncomplicated professional level tasks for just a few hours per week, at a modest pay scale. Introducing to your business a young person who will bring fresh perspectives and a familiarity with recent technologies that you and your team may not possess stands to improve productivity, profitability and the customer experience at your organization. The internship experience that you initiate may become a way to move your company more decisively into the 21st century.

While the virtual format does have drawbacks—like the increased difficulty (or impossibility) of providing your intern with sufficient networking and relationship-building opportunities with colleagues, interns can still attain a variety of benefits in the remote workplace.

Finding interns

College career centers and academic departments are your source for obtaining information and resources about either hiring an intern or establishing a formal internship program at your organization. Share your business needs and expectations with school officials to determine whether undergraduate seniors or graduate students will be most appropriate. Because schools have a vested interest in workforce preparation and employment outcomes for their students, they can be trusted to help you make the right choice.

Choose the right projects

Social media is often a natural fit for interns because they grew up with social media and probably understands the subtle differences between SnapChat and TikTok, Instagram and Pinterest. Discuss the customer demographics and presumed social media strategy with your intern, who will be tasked with helping you realize objectives.

Your intern might also be asked to create a stock image library for posts, shoot videos on a cell phone and create text content as well, in accordance with the company brand story and target customers. You can also ask a social media intern to conduct a competitive audit to let you know what your 3-4 closest competitors are posting, specifically the platforms used and how they communicate with customers.

Bookkeeping interns could be asked to prepare quarterly taxes for customers. Web design interns can be asked to write code and assist with website updates. Graphic design interns can work on logos and draft marketing collaterals. IT interns can take help desk calls and set up the controls for videoconferences. Although it will be done virtually, always review your intern’s work and give praise where it is due and corrections with diplomacy.

Intern support system

Consider how you can create online support for your intern that will include your company needs, the school’s reporting and course credit requirements, plus intern guidance and mentoring. Your goal is to promote a successful and rewarding experience for the intern and yourself/ the business. 

Schedule daily videoconference 1:1s to discuss the intern’s projects and your expectations for performance milestones and completion dates. If you haven’t been using online communication tools beyond email and Skype, for example, encourage your intern to suggest his/her preferred messaging and workflow systems, such as Slack or Asana and give your intern professional validation when s/he gets to teach you something. Institute systems also to allow the intern to interact with other team members, if there are any and encourage relationship-building and networking.

On balance

So what does the Freelancer win when working with an intern? Useful work and good karma. You get some low level, but nevertheless professional grade, work done for not a lot of money. Plus, mentoring in the form of professional development that introduces a young person to the adult work environment, its expectations and responsibilities, is so nurturing and generous (although not everyone has the patience for it).

The downside is that interns need more supervision than working adults and they can be unavailable during final exams or spring break. But then again, who among us does not need occasional time off? Anyway, you never know— in a few years, your intern might flip the script and hire you for an assignment when s/he has gone on to a good corporate job.

Thanks for reading,

Kim

Image: © DanceParent101

Marketing , , , Leave a comment

8 P’s of Marketing for the 21st Century

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It was at The University of Notre Dame that Professor of Marketing E. Jerome McCarthy laid out the principles of the original four P’s of marketing, also known as the Marketing Mix, in his 1960 book Basic Marketing: A Managerial Approach. McCarthy and co-authors Joseph Cannon and William Perreault chose a hands-on, problem- solving approach to the challenges that marketing professionals face.

The boots-on- the-ground approach championed by the 4 P’s Marketing Mix was quickly recognized as foundational to the craft, the gold standard. The genius of the P’s is evidenced by their ability to address both the primary objectives of the marketing team and critical requirements of customers. The P’s relevance has continued into the 21st century and even inspired marketing researchers and thought leaders to expand the list.

As you build a marketing strategy for your products and services—-content and social media marketing, branding, advertising and PR, for starters—-you’ll find that the 4 P’s (+ more) Marketing Mix will guide you and your team to the most effective strategies and action plans every time. Here are the original four and four more that you may find useful.

Product: The solutions that a company sells—products or services, tangible or intangible, B2B or B2C.

Price: The value, in monetary terms, of what customers are willing to pay to obtain a company’s product or service. Company leaders are advised to fully account for the many factors involved in developing, manufacturing, or acquiring a product or service, in addition to the associated marketing, selling, distribution and overhead expenses when determining an appropriate Price. The prices of competitors will also influence your pricing.

Place: Where customers come into contact with and are able to buy the product or service—-in a bricks & mortar storefront, online, at a flea market, in a meeting after contract terms have been negotiated.

This component also refers to both which stores stock a product and the product’s location within a store. For example, certain breakfast cereals and other items targeted to children are found on shelves that are at a child’s eye level or in the children’s department.

Promotion: Strategies and tactics used by the company to persuade potential customers to buy its products or services.

Process: Where and how the customer receives the solution provided by the product or service and all that is entailed. Intangible services delivered by skilled practitioners are more obviously influenced by this component.

Will the solution be delivered in a classroom (education courses), a salon (hair styling or massage therapy), a health care facility (dentistry), or leak- proof cardboard containers (ice cream shop)? How the methods employed in the delivery or application of the solution significantly impacts both outcomes and the customer experience.

Position: The ranking or assessment that customers, prospects and sometimes even the public assigns to your product or service, as compared to similar offerings. To achieve the preferred Position for the product or service, a marketing team will through branding utilize distinctive messaging, packaging, advertising and product placement, sometimes through celebrity endorsement, to create and reinforce the desired image.

Packaging: Tangible products are more obviously influenced by this component. A product’s Price, Place, Promotion and Position are telegraphed in how a company “dresses” the product and presents it to target customers. Even the shopping bags and tissue wrapping paper (or their absence) support the story.

Intangibles are given a “verbal package” that will emphasize its most tangible advantages and benefits, which may include exclusivity (social media site Clubhouse) or rarity or other significant benefits.

People: One component of this factor refers to those who work in the business, in particular the customer-facing staff. Those who interact with customers usually have a profound impact on the all-important customer experience.

The second component in this category refers to the customers themselves, who have many opportunities to communicate to others both the perceived quality of the product or service that was purchased and the perceived quality of the customer experience. Online ranking and social media sites such as Trip Advisor, Yelp and Facebook empower people to either reward or punish a company.

Thanks for reading,

Kim

Image: © Harris Farm Markets Sydney, Australia

Marketing , , , Leave a comment

A Call to Action

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Content creators—-producers of marketing, sales, or advertising content and sometimes speeches, too, must remember that at the conclusion of the artfully told story that’s been delivered in words and/or pictures, it is imperative that you tell the viewer what to do next. Content creators must remember to include an irresistible, inevitable, Call to Action. Fail to do so and the content creator hasn’t done the job.

A Call to Action beckons a potential prospect to do something—-learn more, get this, click here—-that will bring him/her into deeper engagement with the product, service, or idea that’s being promoted. Once the content has made the case, demonstrated the desirable characteristics and therefore the value of what is being promoted, the Call to Action functions to reel in the convinced and the curious.

Step this way, sir! Websites, content marketing posts, videos, television commercials, movie trailers and those postcards that fall out of magazines are but a few examples of where viewers and listeners will encounter a Call to Action designed to entice.

A political action group may write an article on the importance of voting in the next election. The article will likely close with an inspiring CTA message about the privilege of voting and include a link to a voter registration site. A company website may contain two or more CTAs, perhaps appeals to opt-in and receive a weekly blog, RSVP for a webinar, or request a free 30-minute consultation.

Getting started

Before writing your CTA, decide what action you’d like potential prospects to take and what they’ll gain by doing so. Once you know what you want them to do, you can think about how to say it. The best CTAs are short, encouraging and use active verbs that speak directly to the viewer. Remember that the CTA is your closer, the culmination, the purpose, of the pitch you’ve made.

Write your CTA in a font that’s somewhat larger than the other text and use a bold color to make it eye-catching. Lead in with a brief but tempting phrase that persuades viewers to click and subscribe, browse products, opt-in to receive information, attend an event, or take any number of actions.

The next step

CTA buttons are available on Google My Business and the Facebook business page. Most, if not all, email marketing, i. e. blog and newsletter hosting platforms, have always contained opt- in capability to follow or subscribe and an opt-out to unsubscribe. Content creators can easily embed CTA buttons or hyperlinks into a website, blog post, social media site, newsletter, or marketing email. Visibility will be key, so along with bigger and brighter text, place the CTA at eye-level and in most cases, on the landing page. Viewers should not need to scroll to find it.

The CTA should feel like a natural progression of what the prospect has just seen, heard, or read. Whether s/he will be able to obtain more information about using a product or service, listen to a webinar, or attend an event, ensure that your CTA is consistent with the message in your content. A benefit that conveys value, the appearance of low-risk and a sense of urgency are standard ingredients of the well-crafted CTA.

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Thanks for reading,

Kim

Image: Before he became the 43rd President of the United States (2001-2009), George W. Bush was head cheerleader at the exclusive prep school Phillips Academy in Andover, MA (senior year 1963-64).

Administrative , , Leave a comment

Pricing: Retainer Fee, Flat Fee, or Hourly Rate?

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Congratulations! You’re in serious talks with a prospective client and it appears that the project is yours. As you listen to the soon-to-be-client discussing his/her must-haves and timetable, you’re also thinking about pricing and payment:

How many hours might this take to complete and how much should I charge?

What might the client be able to afford and what might s/he be willing to pay?

What value will I bring to the company—-how will my work enable the client to achieve important goals, enhance the company brand and status, or avoid trouble?

How should I suggest that we structure the billing arrangement—hourly rate, flat project fee, or retainer agreement?

Once you’ve asked the client about a ballpark project budget and more or less know how much you’ll request for an upfront payment (10% – 20% maybe?), which payment structure will best fit the project, guarantee that you’ll make a profit and not put you into the position of basically working for free and also support the client’s trust and confidence in you and your company?

Project fee

Charging a flat, predetermined project fee is common for larger projects and for working with clients with whom you’ve worked before, when you can more accurately estimate the hours needed to successfully complete the job. Often, a flat rate is based on an estimate of hours a project will take to complete, multiplied by your standard hourly rate for the type of work required.

In other cases, the value of the finished project is higher than just your estimated hours. For example, logo designs are often valued highly regardless of actual hours worked, because of their frequent use and visibility. Other factors that can affect the price include the number of pieces printed or sold, and whether the piece will be used once or multiple times.

Depending on the type of project, you might add a percentage to cover client meetings, unforeseen changes, email correspondence, and other activities that an hourly estimate doesn’t reflect.

The upside

  • The client knows what they are paying from the beginning (unless there are changes to the scope of the project).
  • You are guaranteed a certain amount of money, even if the job is finished quickly.

The downside

  • The job might take longer than expected (a possibility your contract should address).
  • Clients sometimes ask for extra revisions, etc. without expecting to pay more (again, cover this in your contract)

Hourly

The hourly rate is the most common payment arrangement for both W-2 and 1099-NEC independent contractors in America, according to data released by the U.S. Department of Labor in 2017.

Consider not just what it costs you to do the work but factor in the value you bring as well.

The upside

  • You have a straightforward way to charge clients

The downside

  • You may get pushback from a client if the work takes longer than expected and they receive a large invoice

Retainer

Working on retainer means that you charge clients a monthly minimum, no matter how much work you do. However, for certain types of work, setting a monthly minimum number of hours or projects makes sense. Working on retainer ensures that you have enough revenue coming in every month to keep your business afloat.

The upside

  • You do ongoing work for your client and build a close relationship to help them achieve success.
  • You invoice clients regularly (usually monthly) without having to keep detailed records of your time.
  • You receive recurring payments, almost like a salary, which gives you more predictable revenue.
  • You can scale your business by hiring contractors or employees to manage multiple clients.
  • You create stability for your business without needing to upsell current clients or continually search for new ones.

The downside

  • You may be asked to do additional work that’s not in your agreement if you haven’t set clear expectations or an additional hourly fee.
  • Your total hours worked may fluctuate significantly from month to month, which may make it difficult to schedule time-sensitive work for other clients or leave you feeling suddenly overworked or underworked.
  • Your clients may request to renegotiate your fee when they do their annual budget.
  • Your income, while steady, may be lower than with other billing options.

Thanks for reading,

Kim

Image: The Euro

Professional Development , , , , Leave a comment

Mastering Virtual Presentations: Feel Connected, not Remote

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Virtual meetings are here to stay and at some point you, Freelancer friend, will be asked to give a presentation on a virtual platform—so you may as well make it your business to learn how to do it right. Plan well and you’ll be able to give a talk that is delivered remotely but still connects you to your audience. The trick is to think of your talk as a TV show or movie, divide it into segments and assign them a role to play in the audience experience.

Obstacles

Talking to a webcam is probably not your idea of a satisfying communication process. You’re in a room intended for another purpose—-cooking? sleeping?—-but is now your stage and the audience can see you. You can see them, too, but only as a row of small images aligned along the perimeter of your screen. Everyone is together, except that you’re not.

In fact, you’re all isolated and some may be in another time zone or even another country. Still, through the miracle of technology, you’ve come together to share this experience. The speaker has the responsibility to make that experience rewarding.

Unfortunately, the speaker’s experience may not feel rewarding. Delivering a speech of some sort when using a virtual platform can be disorienting, whether one will discuss a committee report at a board meeting, teach a class, or give a quarterly earnings report to investors. The usual sensory cues are missing. The presenter can see everyone’s eyes, but is unable to make eye contact.

It is sometimes apparent whether or not audience members are paying attention, but feeling their presence and energy, which signal to an astute speaker when the audience is with you and when you are losing them, is not possible. In virtual communication there is no feedback, no way to confirm that the audience understands or agrees with the points you’re making. The presenter is hanging out there alone, sort of in a black hole. There are no familiar landmarks on the trip.

Solution 1: The voice

Presenting on a virtual medium is like being a television newscaster, talking to the red light and with no studio audience to interact with. Nevertheless, speakers working in a virtual medium must remain acutely aware that there is a listening audience that needs him/her perhaps more than does a face2face audience. The online audience urgently needs a responsive connection to the speaker, on whom they depend to lead them into the topic, earn their respect by sharing relevant and timely information and hold their attention so that they won’t be tempted to sign out of the event.

When talking to a webcam, there is often a tendency to speak in a monotone. Some may speak too fast, others will ramble on and on. It’s because talking to a webcam and a row of tiny pictures feels off-kilter. The normal exchange of communication between a speaker and audience, subtle but powerful, is missing.

The overall most effective solution is for virtual format presenters to rehearse the talk thoroughly, to ensure that the tone of voice is strong and confident and the pace of speaking is neither rushed nor slow. Diction should be crisp and the vocal expression pleasantly enthusiastic.

Solution 2: Technology —polls

The drop-off rate of virtual presentations is high. It’s easy for audience members to leave when the talk begins to seem boring. To combat the problem, speakers must prepare to work with the platform technology, rather than allow themselves to become lost and flailing within it. Speakers must always maintain control and this is especially true when the format is virtual and the ability to read the audience mood is severely restricted.

Presenters are advised to quickly capture audience attention and establish their control by engaging them at the start of the talk, perhaps with a fun activity that employs the platform’s polling function. When the speaker invites the audience to respond to him/her they’ll give back a helpful dose of positive energy, precisely what is needed to not just deliver a talk, but to communicate and connect with the audience.

Asking a question is a tried-and-true audience “warm up” technique, but your question must be more specific than “How’s everybody doing today?” The virtual presentation opening question should be devised along the lines of a survey question, to make taking a poll feel appropriate.

Presenters can create a question that’s related to the talk, or even ask about the weather. Since most of the audience may be working from home, staying indoors is easy. If local temperatures have been unusually cold or warm, a creative speaker might want to ask when’s the last time audience members have ventured outdoors? The question and answers received could be good for a chuckle and will pave the way to finding common ground between speaker and audience and also between audience members.

You may be able to take another poll or two later in the talk by asking a question about the topic and challenging the audience to predict what your data show. Once you’ve displayed the audience answers, then present your data. (“96% of you predicted that our customers would like this new product feature. Let’s bring up the official statistics now and see how customers responded.”

Solution 3: Technology —chat

Chat is tailor-made for Q & A and it’s the go- to virtual audience engagement tool. Every presentation includes time for Q & A, often structured as a forum at the talk’s conclusion. Some presenters will also take a question or two earlier in the talk and then address the rest in the Q & A forum.

Whichever format you feel will work best for you and your topic, the chat function will be useful. Presenters can invite audience members to type questions into chat throughout the talk, which may cause certain of them to be addressed during the talk. It will be wise for presenters to discreetly check into chat periodically during the talk because audience members could be trying to signal that something is amiss—-maybe a sound or lighting problem.

Thanks for reading,

Kim

Image: Walter Cronkite (1916 – 2009), lead anchorman for CBS-TV Evening News 1962 – 1981. During the 1960s and 70s, Cronkite was regularly named as “ the most trusted man in America.”

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Notes on Branding

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Hello there. It’s been quite a while since we’ve explored the topic of branding. Establishing and maintaining a reputable brand for your company has the power to generate significant financial rewards even for single owner Freelance entities. Let’s dive in.

What it is

A brand is the characteristics and attributes associated with a company. The company brand consists of the qualities for which the company and its products and services are best known, by its customers and by the public. The company brand defines and communicates the experience it provides for its customers. Especially for larger companies, the company brand is powerfully and memorably communicated by its logo symbol. Brand = Reputation.

Branding

The process of creating and communicating the benefits, characteristics and trustworthy reputation that company owners and leaders envision for the products and services that the company sells. The objective of branding is to persuade customers and prospects to associate those benefits, characteristics and positive reputation with the company, as demonstrated by its products and services, because it will resonate with, inspire trust in and appeal to current and potential customers. Branding gives a business an identity and distinguishes the company from its competitors.

Create and discover your brand

Brand development is a two- way street. Company leaders must understand what the most likely (that is, target) customers for the products and services will be. The brand within is what company leaders determine the brand should be, as represented by the market position, pricing, sales distribution and product placement sections, advertising and social media strategies, packaging and so on. But customers also have a say in a company brand. The brand without consists of how current and prospective customers perceive and respond to the company brand.

Building a brand starts with knowing the customer and the customer’s expectations for your company’s products and services, which are shaped and influenced by what competitors, those who’ve come before you, have done.

Nourish and promote the brand identity and voice

Believe it or not, a brand has a life of its own and a personality to go with it. Company owners and leaders must build a brand whose voice and identity convey trust, reliability and good value for the money spent to acquire the company’s products or services.

The brand identity may be cutting edge, solidly dependable, luxurious, user-friendly, inexpensive and practical, or any number of other qualities. The brand voice will convey brand identity attributes through the style of the website, the company logo, colors used for the website, email marketing templates, company business cards, product packaging and other marketing materials, social media platforms used and marketing messages. Increasingly, company values and guiding principles, from environmentalism to current interpretations of social justice, influence the the brand voice.

What impression do you want customers and prospects to come away with when encountering and interacting with your company? Who are the primary customers? What do they aspire to communicate about themselves when they use your products or services? Those are the guide posts used to create and sustain the brand identity and voice.

Manage the brand

Company leaders must vigorously and continually monitor the tangible and intangible elements of the brand and ensure their relevance to customers and prospective customers.

Advertising and sponsorship choices, marketing and PR campaigns, content marketing topics, social media posts, the company website, product packaging, or the verbal “packaging” of a service, i.e., its defining message and, ultimately, the customer experience, from the Top of the Funnel buying cycle through to actual usage of the product or service, must communicate all that is valuable and memorable about the brand.

Getting started

As always, everything begins with knowing your customer. What motivates them to seek out products or services like yours? How do they use those products or services? Where do they expect to buy your products or services and how much do they expect to pay to for them?

Define the qualities and benefits that customers and prospects value your products and services for. To make the most of that information, the Marketing 4 P’s could be helpful—-Product, Price, Place and Promotion. I like to add four more P’s: Position (luxury or low-cost?), Process (the customer experience, from visiting the website to making the purchase to speaking with customer support); People (all interactions with customer-facing staff, including the company owner, manifests the brand); and Packaging (especially for a tangible product, the style and quality of its packaging, its customer eye-appeal, conveys the brand).

Thanks for reading,

Kim

Image: Brand identity 1950s style as presented by still powerful Nestle. The character “Danny O’Day (L), ventriloquist Jimmy Nelson and the much loved Farfel