Photo by Agnes Pelton
Before you begin to start marketing and selling your products you should look at your business model as a whole.
I want you to take a good look at your market.
Now, take a good look at your market potential.
Can you capture 25% of the market share of your target market?
There are thousands and thousands of organizations, coaches, service providers, info products, representatives, multi level marketers, bloggers, experts in their own field, gurus, etc… Your Money Mojo is hidden in your uniqueness not your sameness.
Are people crystal clear on what you do?
It is imperative that you position yourself first place in your target markets mind. You do that by putting systems in place. Your clients must go through a seamless process that flows.
Do you have systems set up?
I used to work behind some of the top internet marketers business models, one thing they all had in common is systems. The systems supported them in cultivating proactive relationships and that supported them in leveraging opportunities.
Here is a sample case study of a current client that I am currently supporting with her Mojo.
Here is an example of questions I asked her prior to creating her Mojo. This particular client was interested in working with women celebrities and public figures.
Let me put my coaching hat on:
Okay Jane Doe let’s get started…
1. What are the top three things your clients want most?
A: To have better communication with their family, to make more money, to give back to the community.
2. What are their top three fears?
A: Getting a divorce, having poor health, not leaving an inheritance for their children.
3. What are three solutions you currently provide for this problem?
A: Lifestyle coaching to help with her relationship with her husband and family, access to resources to support her in project management, creating a business and life plan.
Answering these initial questions was an important step before finalizing her Money Mojo, and the answers also helped Jane Doe recognize various opportunities she might have missed. To complete my evaluation, I asked additional questions:
- What method of access do you want to give your clients face to face, email, phone, video, or snail mail?
- Would you be interested in partnering with talent agencies and publicist to provide services to enhance their clients brand image?
- Have you considered targeting the organizations and associations many of these public figures are members of, such as the NBA Wives Association, The Professional Sports Wives Association, or WEEN?
- Have you considered connecting with women in the entertainment industry who would like to start their own businesses or philanthropic venture?
- Since many affluent women travel, have you looked into partnering with travel agencies, and perhaps offering coaching services along with a retreat during All Star games when most wives are home alone?
Based on her answers, it was time to design Jane Doe’s Mojo. Her initial responses revealed the three main concerns of her target audience: (1) Image and Brand; (2) Health and Wellness; and (3) Family legacy. Using these concerns as the root for Jane Doe’s solutions, here is a sample product funnel we developed together:
Level 1:
- A book and audio CD package Price: $20-$100.
- A private membership community featuring weekly or bi-monthly teleseminars, guest speakers and resources. Price: $297-$497 a month.
Level 2:
- An VIP seminar, featuring guest experts specializing in finance, health and relationships, led and facilitated by Jane Doe. Price: $1000-$3000.
- A quarterly bootcamp–offered either live as a vacation-style retreat (preferred for this target audience). Price: $3000-$9000.
Level 3
- A group coaching program comprising three modules: finances, health and relationships. The end result is a personalized life/business plan for each client. Price: $300-$500 a month.
- Individual coaching. Price: $500-$900 a month for 90 days or 6 months.
Keep in mind, any of the events featured at the different levels can also be recorded and offered later as info products.
How can you begin to work your Money Mojo? We all have it, we just need a little support in packaging and assembling it. For the month of August ONLY. Here is what I decided to do and my coaches are screaming at me right now for doing this, but I will take the heat if you step up to the plate.
When it comes to being an entrepreneur, you can expect to run across a wide array of customers. It takes a lot to knowing them, identifying them, understanding them, and then working with them. During my time as an entrepreneur I have run across 5 main types of clients which have distinct personalities and approaches.
Champion
These are the ones who have skin in the game they have had their ups and downs in business and clearly can identify their needs vs. wants; they also pay well, are easy to deal with, and will often send random gifts of appreciation. They are usually mentally free and understand their position in the marketplace and have made an impact in their industry as an expert and trendsetter.
Tips to working with them
- Keep open communication and stay in contact!
- Results are all they want. Keep with the facts. You don’t need to convince them of the value you bring, either they need what you have or they don’t.
- They are very clear on what their next level is so when approaching a champion makes sure you understand their business model and their motivation. Champions want to stay champions so if you can assist them in marking their territory you will be retained for a large fee, as long as you produce.
Heavy Weight
These are the type of clients who may have a downfall somewhere or the fear of a downfall happening. They need to be held accountable. These clients need specific things done in a specific set of time, or they are looking for a product that can do it for them. This particular client is all about growth and mentally stability. Heavy weights are very busy and don’t have much time for amateurs so please show up confident and you must be able to articulate the what, why and how you plan to support them with your product or service.
Tips to working with them
- Be very detail oriented.
- Their time is everything so make your communication via email and phone structured and have an outline on what you want to discuss
- If you are pushing a product make sure you explain to them the warranty, guarantee and the benefits
- If you are pushing a service make sure you simplify the process, they don’t have time for long, out drawn processes or to dos.
- Suggestions are key. Give them suggestions on ways that they can work smarter, shorter and faster.
- They love random cards and gifts. Remembering their birthday or anniversary will mean getting a long term contract.
Light Weight
These clients value your relationship and are extremely excited but worried about working with you. To be honest they also expect discounts and freebies. They are scattered in doing to many things and still trying to find their signature style. You must be clear with them on the position you will play when it comes to supporting them. They can easily try to make you do things that are not in the contract and may tend to abuse your time if you allow it.
Tips on working with them
- Offer a discount that is comfortable with you, this way you are not feeling resentful.
- Make sure they understand the amount of work that you are doing.
- Be clear on how much time you are devoting to them and don’t go beyond the time limit. This will help them appreciate your time.
- Ask for payment from the beginning, this will avoid being placed in an awkward position.
- They are easy to befriend you so make sure you seperate personal conversations with professional conversation. Monitor the flow of the conversation and keep business conversation about business and personal conversations about personal stuff. This will help to remind them that you are still a professional.
Feather Weight
These are your business owners who are very attentive and careful. They take everything seriously and have dealt with some people who may have misled them. They must be dealt with very carefully and require a lot of hand holding and explaining.
Tips on working with them
- In this situation you must be professional but also personal. You can lose them if you are too business like and you can lose them if you are too friendly. Find a medium.
- Don’t tell them what to do, make suggestions. They are mentally and emotionally sensitive so they can smell a phony from a mile away.
- Keep reaching out to them, they may not buy what you have to offer on the first go round, so you need to continue to market to them over and over and over again, but it will be worth it once they sign on.
- Deal with these clients like you would a champion. They want to feel special.
- Present yourself as the trusted advisor and continue to show off your business “know how”. They will often ask for advice, ask you to do stuff and you can invoice them for it, as long as you let them know that anything outside the scope of work agreement will be billed.
Golden Gloves
These clients in my experience and observation will try to avoid paying. They may blame you for things not working out in their favor, they may call you every day for you to explain yourself or why this is working or not working, these clients want you to do everything for them for a ridiculously low price. These clients are in basic training and will come out fighting if they sense you are not people pleasing them. If you are not in the friendship business then keep I mind you are not in this to make friends you are in this to make a difference and to make money. Don’t get stressed out by irate, non-paying clients who do not want to recognize your value.
How to deal with them
- Be crystal clear on whether you can support them or not. Make sure you ask them what their expectations are. This will help you identify whether this is a client that wants the moon and the stars.
- Invoice their calls. This will likely limit the amount conversations with no substance and they will spend more time focusing on their business.
- These clients expect you to answer your phone every time they call so make sure you are clear on your client business hours and advise them to make an appt with you. Try using www.tungle.me for online scheduling.
- Give them a contract and a plan of action.
- If you really want them to pay, present yourself in a professional “Bill Gates” manner. You must walk like you mean business, talk like you mean business and send professional business email correspondence.
Please share any client horror/success stories and tips on how to deal with them? We love comments so please share!
Watch this video
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Brands that are successful have a well defined position in the marketplace. Brands following the hype are just winging it on “a hope and a prayer” that their customer will “get the concept.”
Would you rather base your brand on sound principles and a firm foundation or hype of trying and buying, hoping something will work?
Here are some great Brand Re-Position examples: Gucci, Apple, Tropicana okay how about Ali Brown, Toni Robbins, Les Brown, and Walmart, okay how about Oprah excuse me, the OWN Network?
There is this buzz word called Brand going around and I think people are sitting at the edge of their seats, pinching pennies to try to make sure that their Brand is in order. Every coach and meme is talking about what TO DO; let’s look at what NOT TO DO.
Read more
Are hungry enough to go after what you want, tired enough of doing the same routine, pushed far enough in the corner to do something about the elephant on your plate?
Trust me it is not as bad as it seems. The elephant on your table may reflect a business you want to start, a book you want to write, a relationship you want to turn into a marriage, a new position you have been contemplating, credit that you need restored, or a relationship that needs mending.
The elephant on your table can represent a lot of things that you have ignored and brushed off, just to watch it grow bigger and bigger. The elephant is not going to go away. It is going to be there when you wake up and when you go to sleep. When you try to drink or smoke it away or when you try to cry and sleep it off.
If it’s your book, put together a writing schedule and stick to it. Invest in a hotel for a few nights and just work on your manuscript. That’s what I will be doing next weekend. If it’s mending a relationship, set some time aside to have that difficult conversation you have been avoiding. The most important thing to do when you have an elephant on your plate is to address the elephant and pursue the elephant. Some people have more than one elephant. You know it’s there and you know it’s not going to go away, you may even know what you need to do.
Here are some tips to help you to start chipping the elephant head first.
Here’s a simple five-step process for you to try:
- Name your “elephants.”
- Select one and break it down into bite-size pieces.
- Write these steps down in the order in which they need to be completed.
- Assign start and completion dates for each item on your task list.
- Enter these dates into your calendar so you remember when it’s time to do them.
As you focus on one bite at a time, you’ll be amazed at how this easy this process can get. You can now be free and along your way with an important project or task you’ve been avoiding.
If you need help with coming up with an elephant eating plan, contact me at lucinda@lucindacross.com
MARKETING TO WOMEN QUICK FACTS
• Boomer Women and Affluence – One huge, affluent segment wields more spending clout than any other: Baby-Boomer women. Born between 1946 and 1964, these women represent a portion of the buying public no marketer can afford to ignore. With successful careers, investments made during the “boom” years, and inheritances from parents or husbands, they are more financially empowered than any previous generation of women. – Mary Brown, Carol Orsborn, Ph.D., Marketing to the Ultimate Power Consumer—The Baby-Boomer Woman
• Senior women age 50 and older control net worth of $19 trillion and own more than three-fourths of the nation’s financial wealth. – MassMutual Financial Group–2007
• Fifty-plus American women are the healthiest, wealthiest and most active generation of women in history. - Demographics by Mark Miller
• Of the 743 women of wealth interviewed with at least $3 million in investable assets, 61.2% accumulated their fortunes through corporate employment, their own or a family business or a professional practice. Only 38.8% of the women had married into or inherited their money. – Women of Wealth, 2004, by Russ Alan Prince and Hannah Shaw Grove
• High-net-worth women account for 39% of the country’s top wealth earners; 2.5 million of them have combined assets of $4.2 trillion. More than 1.3 million women professionals and executives earn in excess of $100,000 annually. 43% of Americans with more than $500,000 in assets are female – MassMutual Financial Group–2007
• Over the next decade, women will control two thirds of consumer wealth in the United States and be the beneficiaries of the largest transference of wealth in our country’s history. Estimates range from $12 to $40 trillion. Many Boomer women will experience a double inheritance windfall, from both parents and husband. The Boomer woman is a consumer that luxury brands want to resonate with. – Claire Behar, Senior Partner and Director, New Business Development, Fleishman-Hillard New York
• The more mature luxury consumer places the highest priority in making memories and experiences. They don’t buy things to have more things; they want the experience to go along with it. Luxury consumers expect superior quality and are extremely discerning. – Pam Danziger, president of Unity Marketing
• The 55 to 75 year-old female has seen her role change from homemaker to purchaser of security, convenience and luxury items. – Barbara Kleger, president of 55+ Consulting
• Wealthy boomer women are the marquee players in our country’s culture and commerce. They are educated, have a high income, and make 95 percent of the purchase decisions for their households. – Karen Vogel, The Women’s Congress and co-founder and president of New Generation Event Solutions
• Once the college bills are out of the way and children launch their own households, the discretionary spending power of 50-plus women soars. They spend 2.5 times what the average person spends. Women are the primary buyers for computers, cars, banking, financial services and a lot of other big-ticket categories. – Marti Barletta, Primetime Women
• The Baby Boomer Generation has more money, leisure time and technology than any other generation in history. They can not only stay in touch with family and friends but actually continue to pursue their careers while traveling. Thanks to Wi-Fi, satellite Internet hookups, e-mail and cell phones, baby boomers can continue running businesses from RV’s from just about anywhere in the United States. – Baby-Boomer Magazine.com
• Affluent women juggle demands of career and family, are concerned about the environment and are discriminating shoppers. – The Affluent Market in the U.S., Dr. Robert Brown and Ms. Ruth Washton
• The number of wealthy women investors in the U.S. is growing at a faster rate than that of men. In a two-year period, the number of wealthy women in the U.S. grew 68%, while the number of men grew only 36%. – The Spectrem Group
• Affluent working women with family incomes of $75,000 or more are growing in number, and 94.3 percent access the Internet during an average month. About half are now considered heavy users of the Internet, while heavy use of radio, television, newspapers and direct mail has declined within this group. – Ten Marketing Trends to Watch, Kim T. Gordon, Entrepreneur.com
STATISTICS
Women account for 85% of all consumer purchases including everything from autos to health care:
Over half the U.S. GDP
Women represent the majority of the online market
Digital Divas By The Numbers
• 22% shop online at least once a day
• 92% pass along information about deals or finds to others
• 171: average number of contacts in their e-mail or mobile lists
• 76% want to be part of a special or select panel
• 58% would toss a TV if they had to get rid of one digital device (only 11% would ditch their laptops)
• 51% are moms
Source: Mindshare/Ogilvy & Mather
Women process information and make purchasing decisions differently than men:
- 47.2 % of major league soccer fans
- 46.5% of MLB fans
- 43.2% of NFL fans
- 40.8% of fans at NHL games
- 37% of NBA fans
- Women purchase 46% of official NFL merchandise
- Women spent 80% of all sport apparel dollars and controlled 60% of all money spent on men’s clothing
- Women comprise about one-third (34%) of the adult audience for ESPN sport event programs
In older groups, women make up a larger percentage of the audience:
Women in Motorsports
Link back to: http://she-conomy.com/report/facts-on-women/
