Summary of the book "Get Different" - By Mike Michalowicz
Key Concepts in this book:
- Be unique in order to get the attention of potential clients.
- Create a list of target prospects before experimenting with your campaign.
- To sell effectively, you must have a defined goal.
- Allow your chances of success to determine how much money you should spend on marketing.
- Maintain the attention of your prospects by giving them a clear opportunity.
- Offer a straightforward command to encourage your customers to take action.
- Assess the success of your concept and, if necessary, continue to explore.
- Business owners seeking new leads.
- Marketing professionals and enthusiasts.
- New entrepreneurs.
What am I getting out of it? Make yourself stand out from the crowd and attract the customers you want.
So, you've created a fantastic product or service that you'd like to share with the world. You recognize a need and are confident that there is nothing better on the market to meet it. The problem is that no one is aware of it — at least not yet.
In a crowded market, it's easy to go overlooked, no matter how good your product is. Many businesses fail to grow due to a lack of effective marketing. It doesn't have to be that way, though.
Following the herd isn't the way to attract your market's attention – or convert that interest into leads – as you'll see in this summary. Instead, these cutting-edge tools produce completely unique marketing ideas that will set you apart from the competitors, regardless of your budget.
- You'll learn how a restaurant owner maintained afloat by mailing candles.
- Why having a nemesis may fuel your marketing efforts.
- And how free ice water converted a small supermarket into a tourist magnet in this summary.
1. Be unique in order to get the attention of potential clients.
Consider yourself on a plane. A lot is going on as it prepares to take flight. Seatbelts are squeaking. Closing and opening of overhead compartments. On the intercom, the pilot's voice can be heard. Despite the chaos, most passengers are probably dozing off or talking on their phones. This is, after all, what happens before every flight.
Consider what happens if a passenger two rows behind you starts whooping and waving his arms around. You — and every other passenger on the plane – will undoubtedly focus your attention on him. This is due to the fact that the spectacle is not only surprising but also unique. And what is unique is noticed.
This is the important message: To stand out among prospects, be unique.
Consider how our hunter-gatherer forefathers relied on their ability to filter out sensory data to ensure their survival. The unexpected sounds, such as passing deer hooves signifying a meal or a lion's approach signalling danger, were more important than the recurring sounds, such as leaves crunching.
At this level, the human brain is built to embrace possibilities, avoid danger, and dismiss the rest. Your mind excels at dismissing anything that shows to be neither an opportunity nor a threat on several occasions.
This is known as habituation, and it explains why so many marketing fads fade away so quickly.
After all, the first goal of any marketing campaign is to gain attention; you need an audience before you can offer the benefits of your product or service. Customers become accustomed to organizations using the same marketing strategies over and over again, and finally, stop paying attention.
Consider the first time you received a marketing email in which the sender addressed you by your first name. You undoubtedly paused for a moment when you heard the informal address. Other businesses addressed you as "Dear client," and now this message was approaching you like a friend.
Personalized marketing emails, on the other hand, are now the norm. You don't pause to enjoy the warmth of an uninvited "Hey, Name" email from a firm — you hit delete and get on with your day.
Going the tried-and-true method in marketing implies you'll fade into the background. To stand out, you must make decisions that are unlike anybody else's. But first, you must determine who's the attention you seek.
2. Create a list of target prospects before experimenting with your campaign.
Assume you're fishing in a little pond in your backyard. You hope to catch a marlin as you lower your bait. If that sounds silly, it's because it is: catching an ocean fish in a small pond is impossible.
The same holds true for your marketing. You'll be wasting your effort if you don't know exactly who your idea or plan is aimed at.
Here's the main point: Create a list of target prospects before experimenting with your campaign.
You'll need a sample of participants - these are your prospects – because the Get Different framework is really a marketing experiment. Any experiment, according to data scientist Dr Piroska Bisits Bullen, should have a sample size of at least one hundred participants. So that's the first step: figuring out who your Target One Hundred are.
Your marketing experiment's target audience is this list of prospects. Doesn't that seem like a big number? Don't be concerned. Whether you have customers or not, breaking out the process will help you get started.
If you already have a customer base, start by ranking them from highest to lowest revenue over the preceding two years. You'll be able to identify which customers value your product or services the most based on their previous spending.
Next, ask yourself this: Of all the customers you've identified, who do you enjoy doing business with the most? Next to those, draw a smiley face.
Finally, put a smiling face next to the consumers on your list who bring in the most money. These clients are the ones who make the final cut; they are your target prospects. In other words, you want to find a hundred people who are similar to them.
But what if you don't want to clone any clients, or even if you don't have any customers at all? In such a scenario, take a glance around you at your vendors, friends, and coworkers. If Ford is your major customer, Goodyear, a Ford-affiliated tire manufacturer, is likely a suitable fit for you. Even your competitors can provide you with information about the community.
Once you've found your Target One Hundred, you'll want to learn more about them.
3. To sell effectively, you must have a defined goal.
Imagine yourself at the base of a massive mountain. What could compel you to reach the summit? Maybe you believe it'd be fantastic to climb to the top. However, that alone is unlikely to be sufficient to overcome the obstacle.
What if your child was standing at the peak of that mountain? What if a villain was attempting to scale the mountain at the same time? That's a quest that'll get you going - and it'll need a lot more than a desire to get you started!
Similarly, it's critical to be aware of your objective and competition from the start if you want to maximize your chances of marketing effectively.
The takeaway here is that in order to market effectively, you must have a clear aim in mind.
Know what you want to achieve before you start constructing your experiment idea. You may have a variety of objectives, such as maintaining a client, increasing newsletter sign-ups, or selling a certain product to a specific consumer. Your marketing mission — the summit of the proverbial mountain – is to achieve this goal, also known as your "win."
The next step is to figure out exactly what your customers want and how you can provide for them. Think about what you're promising to your prospects. Which of your items and services, assuming you have a variety, will be most appreciated by your prospects - and why? This will assist you in developing your marketing mission.
Let's say you're in the window-sales business. A draft-proof window would be your "what." That's the guarantee you make to your customers - in this case, homeowners. In the meantime, your "gain" is the sale of new windows. And your larger goal is to protect homeowners from the cold and drafts.
But do you recall our villain chasing you to the top of the mountain? Keeping an eye on your competitors can be motivating as well. On the wall of his office, the author keeps a photo of someone he refers to as his "nemesis" – a selfish and dishonest so-called marketing guru. When he's hesitant about the worth of his offer, he looks at that photo, cringes, and is inspired to out market him by doing things differently.
When you have a list of prospects, a marketing purpose, and an understanding of the competition, you're ready to get down to business: budgeting.
4. Allow your chances of success to determine how much money you should spend on marketing.
Linda Weathers was desperate when she contacted Michalowicz. She'd successfully launched her bookkeeping business, but after a year of operation, she had received no new leads. She wasn't trying; she'd already spent $50,000 on programs that promised to find her leads, but none of them had worked.
Linda was likely being conned, according to Michalowicz. In fact, he claims that obtaining new leads does not have to be expensive.
What is the most important message? Allow your chances of success to determine how much money you should spend on marketing.
Now that you know who and what you're going after, you need to figure out how much money you want to put into marketing. Try this simple three-step calculation if you're unclear about the amount.
Do you recall your top customers' list? Multiply each company's typical annual revenue by the number of years you anticipate doing business with them. Your Customer Lifetime Value will be determined as a result of this.
For example, the author wishes to sell books. He estimates that the average top prospect will buy eight of his books throughout their lives, and he knows that each book sale nets him $3.50 in royalties. That customer will pay him $28 throughout their relationship, which is his Customer Lifetime Value.
Then you'll want to figure out your Close Rate Odds, or how likely it is that you'll get that customer. To put it another way, what are your chances of winning a prospect's business if you can just attract their attention?
Take a look at your previous conversion rates. The author calculated that he had a 1:5 chance of selling to prospects based on previous book sales. You may also look at average conversion rates in your industry to determine your Close Rate Odds.
Finally, you may estimate how much to spend each customer using these two figures. The author calculated that investing $1.00 per prospect would be lucrative based on his Customer Lifetime Value of $28 and his Close Rate Odds of 1:5. So, if he has a hundred prospects, his marketing expenditure will be $100.
The goal is to get at a ballpark figure that will help you focus your efforts. Don't get too caught up in the intricacies; a basic estimate will suffice. It doesn't matter if the figure is low. We'll see how a little goes a long way.
5. Maintain the attention of your prospects by giving them a clear opportunity.
Michalowicz was driving in New York City when he came face to face with a man dressed as the Statue of Liberty at a red signal. The emerald toga, the foam crown, and the cigarette dangling from his sneering mouth were all eye-catching. In addition, he was holding a placard selling tax consultations.
Sure, he stood out — but the idea of hiring him for tax advice seemed ludicrous. The truth is that attracting attention is only good marketing if it appeals to the people you want to become customers rather than repelling them.
This is the most important message: Maintain the attention of your prospects by giving them a clear opportunity.
Effective marketing, as we've already established, must be different from the standard. The difficulty is, how can you come up with a unique but enticing marketing concept?
If you're having trouble getting started, the author suggests gathering a group of people to brainstorm together. These individuals do not need to be marketers, and they do not even need to enjoy marketing. Simply get together and start brainstorming.
Tell the group what your industry is already doing, and then spitball some completely new ideas. Don't dismiss any of the suggestions; in fact, don't even comment on them. Simply jot down all of your ideas. You'll almost certainly come up with a worthwhile project by the end.
The most critical question to ask while analyzing ideas is, "Does this obviously create an opportunity for my target market?" If you answered yes, you're on the right track.
Your concept might be pretty straightforward. Kasey Anton, for example, kept her high-end restaurant afloat by mailing birthday candles to customers who had already filled out their information. A ticket for a complimentary entrée at her restaurant was enclosed with the birthday candles - unusual enough to draw notice yet appropriate for the occasion. Kasey assumed that most individuals don't eat alone on their birthdays, and she planned to increase her business by doing so.
Her wager was successful. In fact, in only one month, it brought her almost $18,000 in new business! Aside from the entrée, the costs were low: stamps, paper, ink, and birthday candles were all under $200. Kasey continued to promote her company until she sold it in 2008.
As we'll see, it's ideal to keep things simple when it comes to marketing, whether you're providing an opportunity or explaining the desired conclusion.
6. Offer a straightforward command to encourage your customers to take action.
Have you ever seen a street performer with a container placed out in front of them? It's very obvious what a busker or a mime wants you to do with that container when you pass them: express your gratitude for their efforts by putting money in it.
Of course, you are under no need to tip. However, the fact that their request is so straightforward and explicit increases your chances of succeeding. A clear direction has this kind of influence.
The main point is this: Offer a straightforward command to encourage your customers to take action.
The Get Different framework's last stage is designed to hold your prospects' attention and keep them engaged long enough for them to take the next step. Remember your "win," the marketing goal you set for yourself earlier? Now is the time to tell your consumer about it.
It's critical to maintain your call to action as short and direct as possible while driving your customer toward your goal. Adding stages reduces the likelihood that your prospect will answer in the manner you desire. A good idea combined with a clear call to action, on the other hand, can completely revolutionize a company.
Take Dorothy and Ted Hustead, who opened a grocery store in rural Wall, South Dakota, in 1931. Customers weren't exactly flocking in because it was shortly after the Great Depression - and it was in the middle of nowhere. But one hot summer, Dorothy had a brilliant idea: why not give away free ice water at the store?
She decided to put up a billboard on a nearby road promoting food and drinks, but the sole direct call to action was "Come to Wall Drug for free ice water." Wall Drug became a huge tourist attraction that summer as a result of the simple command, and the store continued to grow, attracting millions of people each year. Customers came for the free ice water at first, but they kept coming back for the experience.
Consider what provides rapid gratification to your clients while formulating your instruction. What, on the other hand, meets their long-term desires? If you sell grills, for example, a complimentary "easiest ways to start up a grill" pamphlet may be an immediate benefit. Meanwhile, the long-term gain would be a durable and effective grill.
You've reached the end of your Get Different marketing experiment now that you have a clear directive.
7. Assess the success of your concept and, if necessary, continue to explore.
An accountant named Gabe Pia came up with a new lead generation idea after attending a Get Different workshop. He'd send a copy of his favourite business book to ten prospects, along with a Post-it note on the first page. "I hope this book serves you as well as it has served me," he'd write on it, along with his name and email address.
Gabe was effective in attracting the attention of his potential clients. His prospects, however, we're too preoccupied to read the book, even though they liked the note. He also didn't acquire any new leads.
Sure, it was a failed experiment. But, as the Get Different framework's final principle dictates, he just proceeded to experiment.
Here's the main point: Assess the success of your concept and, if necessary, continue to explore.
Assume you've piqued your prospects' interest by offering something unusual. You've figured out what kind of opportunity you'll present. You also have a strong call to action. But what if your experiment doesn't get the desired results? What happens if your customers don't like your concept?
Then it's time to try something new. Do you recall Gabe's Post-it books? In his second experiment, he used five sticky notes instead of one in each book. He stuck them on important pages with notes like "I think you'll enjoy this section!" and "Don't skip this page!"
He realized that while people might not read the book, the sticky notes would pique their interest. On the last sticky note, he offered his own advice and included his phone number, along with a simple call to action: "Call me."
This marketing strategy performed significantly better than expected. Gabe didn't only land a customer; seven prospects took to social media to show their gratitude for the book, resulting in more visibility. All of this participation is due to a low-cost experiment!
Gabe kept track of how many people who received books become fresh leads. It's critical that you, too, establish a mechanism to assess the influence of your proposal. Set a start and end date for your experiment, as well as the number of people who will participate, the amount of money you plan to invest, and the expected outcome.
You can then decide whether to reject the concept, modify it like Gabe did, or retest the same idea with a new sample of prospects at the end of the experiment.
Above all, don't be discouraged if an experiment fails. Always remember that you can attempt anything new.
The primary message in this summary is to forget about traditional industry marketing methods if you want to stand out from the crowd. You must dare to be distinctive in order to catch clients' attention. You can turn marketing experiments into profitable leads if you present a valuable opportunity to your prospects, invest wisely, and track your progress.
Advise that works:
Look for your "-est."
You must be more than just the greatest in your sector to stand out — you must be the best at something specific. Search online for superlatives, or words ending in "-est," to see where you stand; you'll come up with a list of approximately a thousand words. Consider which words strike you the most as you read through the list. Choose a few that align with your goals and the needs of your customers to create your own unique positioning.
Comments
Post a Comment