Tuesday, February 03, 2009

Power Marketing Tip 16: Leverage the Fear Factor

Power Marketing Tip 16

Leverage the fear factor

To market your business in turbulent times you must manage fears. There are three types of fears that can determine your success or demise.

Your own fears
This is the most dangerous set of fears that you need to manage because it will determine how you run your business and the messages that you convey.

Your most powerful marketing is the expression of your beliefs. If you believe that the sky is falling then you will convey that stench in your conversations and unintended messages to your clients, prospects and staff. Like hyenas they will smell your fear.

The fears of your clients & prospects
Your clients and prospects will experience several fears. If you want them to buy from you then you need to be aware of and address their fears without embarrassing them.
Your clients might wonder if you will stay in business. You need to enhance your communication with them to allay their fears of losing you as a supplier. They might be thinking "if General Motors is in trouble then what about you."

Call them. Talk to them. Meet with them. Update them on your business developments and plans. Start or continue to use blogs and other online social media to keep them updated on your activity.

They will fear their own situation. The business owners will wonder about their cash flow and the increasing competitiveness of their market.

The corporate employees will fear for the loss of their job.

In both cases these fears will tend to focus their outcomes on "not making a wrong choice" versus "making the best choice".

The fears of the marketplace
The media will fan the fears of the general marketplace because that helps sell the news. Pay less attention to the news or at least watch it with a very skeptical eye. Take a controversial position to get more media exposure. Publish tips on how to extract greater value from your product. Hold a "How to Weather the Storm" workshop for your clients.

When everyone else is hiding in "fraidy holes" be bold. Take the lead and profit.

George Torok
Power Marketing

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