That is the headline of the most recent article in my column for The Register (monthly magazine for the International Association of Registered Financial Consultants).
The issue won't be released until January, but you get an advanced peek. The article gives you some specific wording that works to capture the attention of an audience or individual. They're really simple and really effective. Please let me know if you enjoy this type of content: email@example.com
Here is the link: Mental Marketing Jan 2013
People who fail to show up for appointments cost organizations big bucks. A study in the UK showed that missed GP and hospital appointments costs the National Health Service more than 700 million pounds annually. Research carried out in liaison with the NHS Bedfordshire found that three behavior-change interventions can lead to a dramatic reduction in the numbers of people who fail to turn up for appointments:
- Getting patients to confirm their appointment by verbally repeating the details to the receptionist.
- Getting patients to write the appointment down themselves (rather than the receptionist doing it for them).
- Placing positive messages around the GP practices confirming that attending appointments is the "social norm".
In the case of the Bedfordshire research, the techniques lead to a reduction of 30% in the number of no-shows for NHS appointments. Organizers estimated that if the interventions were replicated nationally, they could deliver savings of up to 250 million pounds annually.
For many years, Pam and I have been fascinated with personal values as behavioral motivators. Since many of our clients are in the financial industry, we've done a lot of research into money as a motivational value. Contrary to what many financial advisors think, money is not a top motivator.
The following comes from a survey carried out by Institute de Impresa in Spain and Manchester Business School. They researched final year MBA students from 25 countries. One would think that MBA students are keenly laser-like in their focus on money. One would be wrong:
"Asked what factors would influence their choice of a career after graduation, respondents rated job satisfaction number one, followed by the opportunity to spend adequate time with their family and friends. Next most important was the corporate culture and the ethics of the organisation they worked for. Money ranked fourth on their priority list."
That finding matches what we've uncovered in other studies and research. So, what's important about money to you? Not as much as you might think.
The advice is the same everywhere – shift your marketing to social media services. It's good advice but it's off-target. Social media is built on technology, but the technology is meaningless without a consistent message that is relevant to your target market!
Once you accept the truth in that statement, you enter a world filled with contradictions. On one hand, many old-line marketing firms are still operating. They write beautifully crafted messages that fall flat on the new style of reading. On the other hand, you find a few firms who develop messages based on the psychology of specific target markets.
This topic is covered in more detail in one of our articles titled "Cracking the Code – How to Use Psychology in Your Marketing." To get a copy of the articles, just shoot me an email at: firstname.lastname@example.org
Consider it our gift to you for being open to better ways to communicate!
Most sellers use the same approach with just about every prospect. Unfortunately, most of those approaches have no relevance to how people buy. Both parties are looking for different things and have totally different objectives. Let’s look first at the typical sales process:
- Talk about yourself
- Explain how you got into the business
- Tell a story about a business success
- Tell your company’s story
- Expound on your values
If you were the prospect, how enthusiastic would you be about a representative who did that to you? Not very. Now, let's look at the typical buying process:
- Prospect explains his problem
- Prospect asks the rep if he can help
- Prospect determines if the rep's experience/solution is relevant
See the disconnect? The prospect is NOT there to be sold, he’s there to solve a problem or gain something. So, how can you solve your own problem of talking too much? Follow this process:
- Put the prospect in charge of the conversation.
- Ask him to share what’s on his mind.
- Be quiet and let him talk!
- Ask follow-up questions
- Demonstrate that you are relevant to him