Archive for the 'business' Category

Getting Past Legal Hurdles – The Sales Process

You finally hear the coveted phrase, “we’re ready to move forward”, or some derivation thereof. Depending on the type of solution you sell, both you and your agreement may arrive at your prospect client’s lawyer, or with a CFO, procurement agent or purchasing department. There are important questions for you to ask, to glean information you need to know:

  • Can you use your agreement or will they insist on using their own contract?
  • How long does it take to review a typical purchase?
  • Can you work with them directly or does your sponsor act as the liaison?
  • Do they insist on certain standard clauses, which must be included in every contract?
  • And if so, can your sponsor provide those for you to review?
  • Will they consider a mandatory arbitration clause which might be helpful to your business?

There are many other questions you can ask, you should carefully assess this aspect of your sales process to ensure you’re operating efficiently late in your process and to minimize surprises. If you can simplify your own contract, it can help reduce the legal hurdles immensely – work with your internal team and counsel to find the proper balance between legal protection and business sales efficacy (I once worked for a Silicon Valley software company that had a 15 page legal contract to procure their solution – this was later drastically reduced to a much more manageable size). Consider creating a simple order form, limiting the legal to those which are critical for your operation and include an arbitration clause. Simpler is usually better. If you wind up in a legal battle before or after the sale, it’s usually a losing proposition for everyone. For more sales tips, read Sell More & Work Less now available on Amazon: http://www.amazon.com/Sell-More-Work-Less-Techniques/dp/1466312394/ref=sr_1_4?ie=UTF8&qid=1325424249&sr=8-4

New Year Resolutions or New Year Goals

Last year I published an article about New Year resolutions, or my version of this tradition which I call my New Year Goals List. For more than twenty years I’ve written annual goals, usually a set of 5 to 10 which I hope to accomplish in the ensuing year. This ritual occurs in December, often around the holidays, but always before January 1st. These goals are written on a small piece of paper, added to prior annual goals, neatly folded and placed in a bedside drawer. From time to time I review these goals, usually once or twice during the year. I often flip back to prior years to ponder where my priorities might have been at that time, if they have evolved in any meaningful way, and if I missed something from years past which should reappear in the future. Granted my goals may seem modest to some and perhaps challenging to others. Regardless of exogenous perspective, the annual goal list seems to work for me, and may work for others too.

Typically my goals include some mix of personal, business, health,  family and charitable. Last year, some of my goals included:

  • Write a second business book
  • Take 3 interesting vacations with family
  • Spend at least two weeks in a warm climate
  • Publish at least 25 articles – 15 on Agency Marketing
  • Wake up weight of 180

As the New Year is upon us, I decided to review my goals for the year, and ponder priorities for 2012.  My second business book was completed with the help of three colleagues. It is called Sell More & Work Less and will finally ship in January. This sales and marketing tips book was fun to write and moved along at a faster clip than my first book. I was able to take four trips this year, including Sweden/Denmark, Newport Beach, CA, Naples, FL and Seattle, WA, in part because StartUpSelling, Inc. is a completely virtual business allowing for the time and flexibility to travel.

I published 35 articles (20 related to agency marketing), safely eclipsing my goal, gaining momentum and motivation as I neared and subsequently surpassed the 100 article notch from efforts over the last three years, hardly Hemingway, but my attempt at providing some interesting content for others to consume. Which brings us to the final goal on the list, a seemingly simple yet illusory target. Repeating a similar performance to last year, the scale read 183 on this the 30th of December. Granted, some extra effort over the next 48 hours and a disciplined two day diet regimen might put this goal within reach. Unfortunately, as we all know, the holidays tend to be a better time to gain than shed. The former sentence sounds good as I write it, though the latter seems an obvious rationalization and a meager attempt to excuse this near miss again.

And what are some of the goals on my 2012 New Years Goals List?

  • Write a 3rd business book
  • Start on my first novel (that will be a radical departure from business writing)
  • Finalize a television show script (now completed but undergoing refinements)
  • Three weeks in a warm climate (with friends and family)
  • Wake up weight of 180 pounds

I find this annual goal ritual to be helpful and rewarding, motivating and humbling. It helps keep me on track and measure my results during the year and from year to year. Try it and you might find it helpful too. I’d like to wish all of my family, friends, colleagues, contractors and clients a happy and healthy New Year!

Are the Days of Direct Mail Marketing Dead For B2B Insurance Agencies?

This blog is based on one of my most viewed blogs and articles called, “Are the Days of Direct Mail Marketing Dead For Insurance Agencies?” It was written in June 2010 and discussed the demise of direct mail as an effective, or at least long term insurance agency marketing solution. The US Postal Service was a prominent feature in the discussion, running massive deficits at that time, which as of yet appear unabated.

I received interesting comments, as some marketing agencies, service organizations and insurance agencies continued to extol the virtues of direct mail. But I think most of them today, would agree, there are much better, more efficient and environmentally friendly means to reach prospects. Some of these include:

  • eMarketing
  • Social Media Marketing
  • Web Seminar Marketing
  • Blogging
  • Video (including YouTube)
  • Insurance Agency SEO

For B2B insurance agencies, there are even more compelling reasons to go digital and eschew any thoughts of Direct Mail, which is appropriately called snail mail in this context. Direct mail is slow, difficult to measure in many ways including how many are opened by your target audience. And it’s difficult to determine if the physical mailer reached the person intended. Direct mail will continue to get slower (First Class mail will no longer be delivered next day) and more costly, as the inherent inefficiencies in the model continue to act as an economic anchor on the entire process.

The simple conclusion for B2B Insurance Agencies… If you haven’t stopped direct mail – do so – and do so now! Invest in your future with digital marketing, particularly methods that build a foundation for your future success. For more information, go to: Insurance Agency Marketing -  http://www.startupselling.com/insurance-agency-marketing.html

My 2011 Reading List In Retrospect, Shall We Call It “Dark Unbroken Amazonian Hornet’s Nests with Coke”?

As an early adopter of the original Kindle, and the new and improved Kindle Fire, I find it faster, easier and more convenient to read. As noted in blogs of days gone by, I try to read a mix of books from business topics to inspirational stories to those offering rewards merely from an entertainment perspective. I like to read at least a book a month, I read 15 this year, a dozen of which are listed below, in no particular order.

  • The River of Doubt: Theodore Roosevelt’s Darkest Journey, Millard, Candice
  • 50 Ways To Love Your Startup, Mancinelli, Bruce 
    Sell More & Work - January 2012
  • Mountains Beyond Mountains, Kidder, Tracy
  • Dark Tide: The Great Molasses Flood of 1919, Puleo, Stephen
  • Google Places Success, Towland, Chris
  • Unbroken: A World War II Story of Survival, Resilience, and Redemption, Hillenbrand, Laura
  • The Autobiography of Benjamin Franklin, Franklin, Benjamin
  • The Girl Who Kicked the Hornet’s Nest, Larsson, Stieg
  • The Coke Machine, The Dirty Truth Behind the World’s Favorite Soft Drink, Blanding, Michael
  • The Secret Life of Houdini, The Making of America’s First Superhero, Kalush, William and Sloman, Lary
  • A Splendid Exchange, How Trade Shaped the World, Bernstein, William
  • Sell More & Work Less, Web Selling Techniques Everyone Should Use, A. Blume, J. Scranton, M. Lauducci, A.J. Blume

These books range from truly inspirational stories of triumph over hardship (Unbroken and River of Doubt for example) to small business best practices (50 Ways to Love Your Startup). Some were fast and easy reads like The Girl Who Kicked the Hornet’s Nest, while others like Franklin’s autobiography and Houdini’s life offered granular detail amidst historic context. Dark Tide and Unbroken fall under their own unique category as in, “are you kidding me – do these things really happen”? And my most recent read arguably falls into the same genre, with Roosevelt’s (of the Bull Moose variety) journey through the Amazon. The book I spent the most time reading this year, was the book which I was writing this year. With the assistance of three colleagues, we put the finishing touches on Sell More & Work Less, Web Selling Techniques Everyone Should Use this past week and hope to see it finally hit the virtual Amazon book shelves in January. Writing and publishing requires multiple read through cycles, and I expect the final cycle to happen this month. Sell More & Work Less is just over half the number of words when compared to my first book, Your Virtual Success, but the reading cycles were certainly comparable. The latter was over 60,000 words while the former, a more succinct “web selling tips book”, is only 35,000 words.

My recently purchased Kindle Fire helped me rip through The River of Doubt, the crisp text and improved user interface makes it really fast and easy to read (at least for this user). These days, I find both reading and writing enlightening and cathartic and wished that I read more when I was younger, compelling me to think of the famous Shaw quote, “youth is wasted on the young”. Will the day come that most of youths will be using Electronic Reading devices? And upon such a day will that help them read and assimilate more information? Only time will tell, then again technology may be an enabler, but it isn’t necessarily a motivator.

Three of these books were gifts (The Coke Machine, The Secret Life of Houdini and A Splendid Exchange) of the “paper” variety, the rest were downloaded to my Kindle. I can recommend all of the books on this list, though my favorites were Unbroken, River of Doubt and Dark Tide). And it is with obvious prejudice that the last item is even included on the list. As my years progress, I’m gaining momentum with writing and hope to publish another book around the end of 2012, then a novel in 2013 or 2014. The novel would be a departure for me as most of my works have been in the business genre. It’s a challenge I look forward to, mundane in comparison to the challenges faced in Unbroken or River of Doubt (or Mountain’s Beyond Mountains), but a challenge nonetheless. Sell More & Work Less will be available in January.

 

Top 12 Insurance Agency Marketing New Year Resolutions

Here is a list of 12 important things to consider for your Insurance Agency Marketing New Year Resolutions.

Insurance Agency Marketing New Year Resolutions

Insurance Agency Marketing New Year Resolutions

  1. Your Insurance Agency Website is Updated & Current.
  2. Your Website leverages SEO best practices.
  3. Your Agency Value Proposition is prominently displayed and rapidly understood.
  4. You have a prominent Call to Action (above the fold) on your Insurance Agency Website.
  5. You have a professional and consistent Insurance Agency eMarketing Program.
  6. You have a Quality Prospect List with X-Dates.
  7. Your agency (or an insurance agency marketing firm) makes over 500 outbound calls per producer per month to targeted prospects (or you have another type of “drip” campaign in place to offset this marketing initiative).
  8. You have an Insurance Agency Social Media Initiative in place with LinkedIn and Facebook company pages and a professional LinkedIn profile for all your agency employees (and an Insurance Agency Blog).
  9. You have your own YouTube channel with pithy videos about your agency, products, services, solutions and perhaps some client testimonials too.
  10. You’ve rehearsed your elevator, telephone and voice mail pitch. You can quickly differentiate your agency and have a clearly understood “big 3″ list of differentiators.
  11. You have a clear and efficient (and documented) lead handling process.
  12. Your eCollateral is Branded & Updated.

And you have determined how to increase your book of business with a clear and concise insurance agency marketing plan for the New Year.

For more information visit: Insurance Agency Web Marketing

Top 5 B2B eMarketing Blogs – Top 5 Insurance Agency eMarketing Blogs

B2B eMarketing

If you’re interested in B2B eMarketing or Insurance eMarketing, check out these top 5 eMarketing blogs. These blogs offer advice and suggestions on eMarketing best practices

  1. http://startupselling.com/blogs/alanblume/5-tips-for-better-insurance-agency-emarketing-subject-lines/
  2. http://startupselling.com/blogs/alanblume/insurance-agency-marketing-report-card-for-web-centric-marketing-campaigns/
  3. http://startupselling.com/blogs/alanblume/insuring-the-success-of-new-salespeople/
  4. http://startupselling.com/blogs/alanblume/top-10-questions-about-insurance-agency-emarketing/
  5. http://startupselling.com/blogs/alanblume/insurance-agency-emarketing-and-webinar-checklist-%e2%80%93-101-check-boxes-and-counting/

There are hundreds of blogs, articles and examples of B2B eMarketing, SEO, Insurance Agency Social Media Marketing, Website Video and our new mobile app, The Prospect Scorecard, available on our website. http://www.startupselling.com.

Social Bookmarking for Business Web Marketing

Definition

Social bookmarking allows Internet users (and businesses) to organize, store and manage online resources, akin to marking pages in a book for use at a later date. Unlike the bookmarks of old, and as with all things on the Internet, these bookmarks can be easily shared and distributed. Descriptions can be added to the bookmarks, so users can peruse the content (from the succinct descriptions) without requiring a download. These descriptions can include votes (good or bad), comments or tags. Think of tags in terms of keywords, short relevant phrases germane to your target audience.

Tag Cloud - Web Marketing & SEO

Sample Tag Cloud

Use

Social bookmark users can save web page links they want to share. These links are typically public and can be viewed chronologically, by category or tags, or using a search engine. I liken social bookmarking to some elements of asynchronous collaboration solutions, which allow users to share topics according to a category, project, etc. Collaboration systems allow users to subscribe to an information feed, very similar to the social bookmarking services which provide web feeds for their lists of bookmarks and lists organized by tags. Arguably, social bookmarking is a simplistic type of asynchronous collaboration. The feeds or subscription functionality allow users to become aware of new bookmarks as they are saved, shared, and tagged by other users. Collaborating and managing these tags may be referred to as “folksonomy.”

What is Folksonomy

Folksonomy is a classification system created to manage tags to categorize content derived from a consensus of users. Simply stated, tagging allows users to collectively classify and find information. For example, blogs often include tags and their associated tag clouds as a way to help visualize tags in a folksonomy. Folksonomy also helps us in other ways. One of the inherent advantages of social bookmarking is the human factor, allowing users to determine content relevancy as opposed to deferring to search engine bots which automate the same process. By sharing, tagging, voting and describing content, users can better determine if the content is truly applicable to their needs, and computer error or misclassification can be removed from the formula.

Most Popular Sites

Top social bookmarking sites as ranked by eBizMBA include (monthly visitors estimated):

  1. Twitter: 200,000,000 Unique Monthly Visitors, Alexa Rank 9.
  2. digg: 25,100,000 Unique Monthly Visitors – Alexa Rank 139.
  3. StumbleUpon: 17,500,000 Unique Monthly Visitors – Alexa Rank 112.
  4. reddit:  16,000,000 Unique Monthly Visitors – Alexa Rank 135.
  5. delicious: 5,500,000 Unique Monthly Visitors – Alexa Rank 342.

Others include tweetmeme, FARK,  Slashdot, friendfeed, clipmarks, newsvine and diigo.

Practical Use for Business Web Marketing

Why should your business be concerned with Social Bookmarking? Social bookmarking offers several web marketing opportunities for businesses:

  1. Organize and distribute your relevant content
  2. Drives traffic
  3. Improves your Internet presence
  4. Improves SEO
  5. Improves inbound link popularity (Backlinks)

Conclusion

As you review and consider your most important web marketing initiatives, there may be higher priorities on your things to do list, including the creation and maintenance of a Web 2.0 website, blogging, ePublishing, eMarketing, and social media marketing (LinkedIn, Facebook, YouTube, Twitter). That said, and when thinking about your social media marketing initiative, it’s fast and easy to add social bookmarking as an extra component for your business web marketing plans.

To Blog or Not To Blog – B2B Blogging

B2B Blogging For More Effective Websites

B2B Blogging

Quality blogging takes time and you know the old saying, “time is money”. The saying has been around a lot longer than blogging as the quote, like many pithy quotes, is attributed to Ben Franklin. If Franklin were alive today, perhaps he might say, “a blog in time is a worthy investment.” And yes, I’m sure Ben would likely coin a better phrase.

Is your B2B business blogging? Is in external, integrated or both? Have you included social media icons in your blog to facilitate sharing and extend your marketing reach? Are you educating as opposed to selling? Is it separatae from a news release page or are you incorporating news releases sporadically within the blog? Have you moved on to vlogging or incorporated website video into your blog? Is your blog integrated with LinkedIn? These are some of the questions you should ask about blogging, and as it makes websites stickier and improves SEO, you should give serious thought to blogging if you have yet to do so. Adding a blog to your website shows search engines that you’re adding new content to the root of the website, making your site more attractive to the search bots.

Here are some additional interesting blog facts:

  • By 2012, 43% of all U.S. businesses will be marketing via a blog (up from 34% in 2010).
  • Businesses with blogs receive 55% more website traffic than those without one.
  • Blog with images or photos have greater effectiveness.

Blogs are an important part of any B2B website. Regardless of your type of business, be it professional services, technology, accounting, law firm or insurance agency, if you do not have a blog, they are adversely impacting your search engine marketing, the professionalism of your website and your internet visibility.

Have You Tried The Prospect Scorecard?

The Prospect Scorecard

The Prospect Scorecard offers salespeople, sales managers, entrepreneurs, sole proprietors, insurance agents, realtors and other business people a simple and easy way to qualify, track and rank your best prospects. Salespeople often refer to prospects in vague terms such as: new, warm, hot, cold, likely, qualified, etc. These terms do little to better understand a sales pipeline or convey likelihood of purchase to other members of the team. The Prospect Scorecard resolves this issue, simply, quickly and easily for any salesperson or business.

  • Helps you create ideal attributes to form a buyer persona
  • Creates a simple numeric system to leverage your buyer persona
  • Assigns numeric values to rank your best prospects
  • Helps you create a simple qualification acronym to determine likelihood to close
  • Ranks your prospects by Prospect Score, Quality Score and Alphabetically
  • Color codes your prospects into Green, Yellow and Red, displaying prospect categories

It’s a fast and simple way to understand, quantify and qualify your pipeline. The Excel version is available at no charge at: http://www.startupselling.com/sales-tools.html. Look for more information in our upcoming book, Sell More & Work Less.

US Postal Service posts $3 billion loss – warns of default

A few days ago Emily Stephenson of Reuters reported that, “The U.S. Postal Service posted a net loss of $3.1 billion in its third quarter and warned again it would default on payments to the federal government if Congress did not step in.” No surprise here, just look back to my blog on May 27th, 2010 http://startupselling.com/blogs/alanblume/tuesday%E2%80%99s-mail-%E2%80%93-should-your-tax-dollars-subsidize-direct-mail/, or May 19th of this year http://startupselling.com/blogs/alanblume/us-postal-service-reports-quarterly-loss-of-more-than-2-billion-snail-mail-issues/ where I made the easy prediction of a continuing and worsening USPS debt crisis.

Mail volume continues to drop, almost 3% from the same period last year, and will almost certainly continue to drop. Though the post office doesn’t use tax payer funds, guess what is likely to happen if the USPS defaults. If Congress does not intervene, USPS is unlikely to make their next multibillion payment (sound familiar?). So why are we still delivering mail 6 days a week? Surely 3 or 4 times a week would suffice. Even if the decision represents a slow payback, think of the fuel savings and positive impact on oil imports and the environment.

As was evidenced in the debt debacle, the government has been slow to move on these obvious issues, something all voters, both Republicans and Democrats can likely agree upon. But the USPS is painfully obvious. So here is a simple action plan to help resolve the USPS crisis:

Action items:

  1. Cut delivery to 4 days a week
  2. Stop advertising on TV, etc.
  3. Charge more for junk mail – you’re the only one delivering it (after all it is “junk mail” and environmentally irresponsible)

According to eHow, the average American receives 41 pounds of junk mail per year, of which almost half of the junk mail received annually ends up in a landfill. It costs almosts $320 million in local tax money to dispose of junk mail: http://www.ehow.com/how_5072539_stop-usps-junk-mail.html#ixzz1URp3Z0Kr. I liken the current USPS, 6 day per week delivery with junk mail as a primary cargo to the days of the Pony Express. The time has come and gone for delivery by pony, and the same holds true for the current delivery program. And, the USPS actually offeres a complimentary webinar training program to help small business learn about direct mail advertising, encouraging them to send more direct mail. Perhaps the thought here, is that even though they’re losing money, they can make it up in volume.

This three step plan would be a good start – and before anyone says this program will actually cause more problems or cost more in the short term – the short term pain will result in long term gain – and simply has to be done. Perhaps the day will come where mail will only be delivered once a week, as all government checks go electronic, most payments move to online venues and junk mail becomes a thing of the past.