Archive for June, 2010

Are You Committed or Interested?

Tuesday, June 29th, 2010

I get a lot of calls from folks who genuinely do good work.  They put out a quality product and their clients love them.  The problem:  they play too small.  It’s easier to dabble with that website, talk to folks who like them and don’t have the power to buy than it is to really go after that next level.

What’s holding them back?  Most folks are interested enough to buy those “magic bullet” systems but not committed enough to show up and implement what they’ve learned.  Why?  Because in order to get to the next level, you have to put skin in the game.

Here’s one way to tell how committed you are:  do you invest to the point of inconvenience?  When you sign up for that teleclass series, do you plan to show up or blow it off at the first opportunity because, after all, the session is recorded right?  When you decide to update that website (or your brand), do you choose vendors by price point or by what they can do for you?

Those who best benefit from the recovering economy will be those who invested in their business during the down times.  They bet on themselves.  So ask yourself:  how uncomfortable am I willing to be in order to get what I say I want?

Inside Scoop on Publisher’s Speaker Bureaus

Thursday, June 24th, 2010

Great call the other day on books that brand.  What I didn’t get the chance to discuss was the role of the publisher’s speaker bureaus.  Let’s drill down on this important issue.

First, a little context:  to broaden readership for their authors, publishers have established speaker bureaus to book speeches for their authors.  A relatively new trend, the bureaus sprang up around 2006; a couple (such as Macmillan) launched last year.

Many authors think that the speaker bureaus will go out and get them speaking engagements.  The reality:  nope, the in-house folks are just answering the phone.  When it rings.  For you specifically.  Why?  Because they don’t know how to promote speakers and don’t have the database that the established bureaus have.

Another problem with the in-house bureaus:  they focus on exposure, so they’ll lower your fee at the drop of a hat.  This practice doesn’t make friends and influence people at the bureaus that represented you before the book came out.  Be prepared for the ensuing cat fights.  And, yes, you are the referee.

Before you sign that contract, ask the publisher about their bureau.  Is it outsourced or in-house?  What’s the policy on fees?  How proactive will they be?  To paraphrase an old saying, an ounce of clarity is worth a pound of assumptions.

The Science of Curiosity

Tuesday, June 22nd, 2010

Great video in Fast Company last month from Dan Heath.  He discussed an interesting theory about how curiosity occurs.  According to George Loewenstein at Carnegie Mellon University, curiosity is created from the gap between what we already know and what we want to know.  Once that gap exists, it’s an itch that has to be sratched.  Now I know why I just have to know every secret someone doesn’t want to tell me.

And here’s the kicker:  we don’t know what we want to know until someone (like us experts) points out what’s out there.  This is the reasoning behind the killer rhetorical question.  Great way to get attention and drive click-throughs.  Posterchild for this strategy is one of my favorite authors, Steven Levitt who wrote Freakonomics.

Like scholarly research?  Click here for Loewenstein’s original paper.

Two Kinds of Prominence

Thursday, June 17th, 2010

The most frequently asked question I get from authors:  now that my book is out, how do I get more revenue?  Everyone knows that books don’t pay — the money comes from the better opportunities, the cooler clients that call, the invitations to speak.

My answer:  it’s all about strategy.  Yes, publicity from books creates prominence.  But not all prominence is created equal.  The dirty little secret we don’t talk about is that there are two kinds of prominence:  1) the kind that creates mostly promotional opportunities — such as those dreaded free speeches — but not revenue.  That gets old really fast.  And, 2) prominence that generates revenue — as in paid speeches and paying clients.  Usually the reason why folks write books in the first place.

There are three ways to position your book to create the revenue authors look for.  I’m drilling down on each one on Tuesday’s Extreme Mini Makeover call on positioning your book.  This call alone will be worth the price of the entire series.  Click here to register.

Why Are You Really Writing That Book?

Tuesday, June 15th, 2010

I’ve heard a lot of crazy things because of the economy, but this takes the cake.  I’m hearing a lot of folks are writing a book right now.  When I ask why, here’s the number one answer:  well, business has been slow so why not?  This answer has spawned a rant not to be missed – click here to see the video.

Let’s get real:  this kind of delusional thinking takes over when a business is in trouble — that big client suddenly goes away, referrals dry up, a more prominent competitor invades your space.  It’s easy to rationalize, “Hey, instead of figuring out how to get more business, I think I’ll go write a book.”  It’s easier to focus on a book than it is your business strategy.  Why?  Because we feel vulnerable when we don’t know what to do when the game  changes.  What used to work doesn’t anymore and we’ve got to do something NOW to fix it.  The book becomes our security blanket.  Writing that book makes us feel in control.  By golly, this book will jumpstart my business.  And while writing that book, we don’t have to do tough stuff like get out into the marketplace and compete.  It’s a great way to hide, to stick our head into the sand.  And again, there’s plenty of people urging us to write that manuscript.  For a price.

The hard truth:  the best motivation for writing a book is market-driven.  So before the book train leaves the station, let’s step back and take a hard look at our motivations.  Ask yourself:  what trends are converging that will make this book create more clients or more speaking?

This recovering economy has created trends that will make some books soar – and some sink.  I’m unveiling my latest analysis on those market dynamics at the next Extreme Mini Makeover call on June 22nd.  Click here to join in the fun.

Are Big Name Speakers In Trouble?

Thursday, June 10th, 2010

Conventional wisdom has it that a big-name speaker drives attendance.  Is that still true?  Kinda, but with caveats.  The economy and “teach me something now” audiences are redefining value and demanding real learning.  Some big-name speakers do that:  one association reports they had the biggest attendance since 2004 when they hired former President Bill Clinton to speak.

Some associations are going to the extreme by not paying speakers at all.  Does that work?  Not for one nameless association, who had to cancel their meeting filled with free experts because of not enough registrations.

The deciding factor:  does the prominent speaker give real information, or phone it in with platitudes from a canned speech?  The former still drives attendance; the latter doesn’t.  It’s just that simple…

Windfall From New Health Care Law

Tuesday, June 8th, 2010

Nutrition, wellness and even stress management folks will see a boost in interest in their programs, thanks to the $200M grants for wellness programs in Corporate America.  Spread out over five years, these grants will go to small companies with fewer than 100 employees.

Watch for small business groups to wade into this area — I know, they don’t have the expertise, but that’s where you come in.  Beware:  don’t assume that these small companies just want you to speak and get out.  Experts in these areas will have to take a holistic approach and distribute their content in a variety of ways.  Your next big step:  bundle your services as a project that includes speaking, internet stuff, whatever and target the smaller companies.

How a Brain Responds to a Brand

Thursday, June 3rd, 2010

I blogged on Tuesday about brain imaging and the revolutionary findings this science will bring to the market.  Here’s a great example of what’s to come:  an experiment that shows why a “brand” trumps product preference.

Remember the famous “Pepsi Challenge?”  When folks didn’t know what they were drinking, more people liked the taste of Pepsi than Coke.  What’s the deal?  Why would Coke beat out Pepsi in the marketplace if folks like Pepsi better in the taste test?

Scientists at the Human Neuroimaging Lab at the Baylor College of Medicine repeated the Pepsi Challenge while scanning the brains of volunteers.  Here’s what they found:  most people preferred Pepsi if the soda was not labeled, as in the original challenge.  A scan of a brain area associated with rewards, called the ventral putamen, responded five times more powerfully to Pepsi than to Coke.

But, when the researchers repeated the test with the cans clearly visible, almost all of the subjects preferred the familiar red Coke can.  Significantly, different areas of the brain responded.  The medial prefrontal cortex, which is associated with logical thinking and reasoned judgment, lit up when Coke was selected.  In other words, the preference didn’t have to do with the physical response to the taste so much as to the idea of Coke.

Moral of the story:  experiments like this make the power of branding real.  Watch for this area of boom beyond belief.  (No wonder everyone and their brother is a branding expert…)

The Age of Interpretation

Tuesday, June 1st, 2010

In this noisy market, sellers are desperate for an edge.  Something that will make them more attractive than their competition.  And the science deep pockets will use to do just that:  neuro-marketing.

It all started with neuro-imaging, a technology that sees how a brain responds.  Now, these scans are used in a different way:  neuro-marketing.  Yes, there are firms who offer brain scanning services to study the response to ads and buying trends of the most profitable prospects.  (Scary, isn’t it?)  You better believe that Corporate America will be all over this.  Those who crack the code on what customers are really thinking will be the new marketing gurus.

My prediction:  brain imaging will change how we predict and interpret our world.  This trend is not going away.  Those who take advantage of this research will be the next generation of marketing gurus.