Sell the truth
Could you still sell your product offering if you couldn’t exaggerate – if you had to tell the truth about your product’s features and capabilities?
On the web, public opinion and criticism are just a click away – a harsh reality for some companies. To combat this onslaught of honesty, you have to do the unthinkable — deliver value. When you provide an outstanding value to one customer, they reward your company via personal recommendation to someone else. This is a powerful, free, and organic way to grow your business. Conversely, for each customer whose business you lose, you lose another ten potential clients. Relationship marketing guru Fred Reichheld differentiates between “good profits” and “bad profits”—the latter referring to revenue you made at the expense of good client relations.
Viral marketing is the manufactured version of word of mouth, similar to what direct marketing has been to print advertising. If you can, skip viral campaigns and go for the real thing. Try to create a genuine word of mouth campaign by delivering a superior experience that your clientele will believe is worth sharing. This leads to good profits and positive referrals, and it’s the organic engine for growth in the 21st century.
Contact the key consumers of your products and ask them to share their candid opinions. Offer a tangible reward for their time and the effort they invest, such as a free upgrade, a one-time discount, or some other valuable inducement to respond. Ask if they mention your product to others. If they do, what do they say about it? If they don’t, ask them to tell you honestly why they haven’t. You want to fully comprehend their reasons for recommending (or not recommending) your product.
One way to measure customer advocacy is using Fred Reichheld’s “Ultimate Question” (theultimatequestion.com). Pioneered during his work with Satmetrix and Bain & Company, this breakthrough device used to gauge customer feedback, cuts to the chase with a simple one-question survey: “How likely is it that you would recommend this company or product to a friend or colleague?” When you measure the responses from customers who have used your product for a reasonable amount of time, you will learn just how well you serve those customers.
See if you can squeeze a little more candor into your marketing offers. Invest time to ensure your product or customer experience is extraordinary. Often, product innovations can be inexpensive, particularly when applied to pricing or packaging. Find the practical edge within your industry and give people something to talk about.
That is selling the truth. It pays off.
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Posted on Feb 08, 2008 by Kevin Milden
@Rich — I agree. Being honest in both your business and personal life will earn you a suit of armor that protects you from the people who aren’t. It is like mixing oil and water. “Selling the truth” can apply to so many things from politics to products. When you are willing to just be yourself and tell it like it is, it tends to be more remarkable than any fictional story you can create. If you choose your words wisely, you can avoid being critical of others. I don’t think the truth hurts as much as the packaging in which it is usually delivered.
Posted on Apr 19, 2008 by Kevin Milden
Post Your Thoughts
In todays society I’ve come to find that many people are unfortunately guilty of pointing fingers even when some of the responsibility lies upon themselves. Moreover, the biggest problem is people are o.k. with it. We’ve all had to divert blame at some point in our lives, but it seems like today it’s commonplace and acceptable in all realms.
I’m not sure if life experience has shed this new light to me, or if it’s just the way society has evolved to. Either way, it’s up to role models of the few, that can redirect the masses to owning up to their actions whether it be in business or just life in general.
The discussion above is a great way to get back to the basics, which is usually the best way to accomplish anything. Truth can hurt, but can also be liberating in more ways than imaginable not only in your business model, but in your personal constitution as well.
WIth that, it’s only a question of with path will you take!
Posted on Apr 19, 2008 by RIch Hunter