Niche Marketing Matters

I was interviewed on the Jason Hartman Radio Show which is syndicated across the globe. The subject was entrepreneurial marketing and my book “First, Best, or Different”.

To hear the show, visit http://www.jasonhartman.com/radioshows/

The segment is called “#112 - Unique Financing & Loan Modification Programs and Profitable Entrepreneurial Marketing” and my interview is second 30 minutes.

John Bradley Jackson
© Copyright 2009 All rights reserved.

P.S. Radio interviews are a great way to get your message out.

Just be yourself—-I imagine that you have heard that advice all your life from friends, family, and co-workers. And it is true.

This weekend I watched 12 student teams from my New Venture Creation class at CSUF present their business plan concepts to an executive panel made up angel investors, bankers, and entrepreneurs. The small student teams each had 15 minutes to pitch their business ideas.

The teams were all prepared and were quick to describe the merits of their business ideas including value proposition, strong return on investment, and competitive advantage. Yes, they presented exactly as I had coached them to do.

But, guess what factor meant the most to this panel? Interestingly enough it was the authenticity of the presenters. The panel responded most positively to the students that were the most passionate and genuine about their ideas—this heartfelt enthusiasm trumped the ornately prepared spreadsheets and the overly scripted delivery by the more academically inclined students.

In reality, the panel responded to eye contact, smiles, and passion of real people who were just being themselves.

Another lesson leaned by Professor JJ.

John Bradley Jackson
© Copyright 2009 All rights reserved.

Yes, there are still things to be invented. How about square watermelons and glass floor mats?

Japanese urban dwellers live in notoriously small houses and apartments which in turn have tiny refrigerators. Watermelons are considered a delicacy in large part because of their size and storage issues. Because of this storage issue, watermelon is a favorite at Japanese restaurants, but they are seldom served on the kitchen table.

A farmer from Zentsuji in the Kagawa prefecture has solved the problem by growing the round fruit while still on the vine in a square “Plexiglas” box. When full grown, the square melon is removed the box and harvested. Note that all the melons are the same uniform size.

These easily stored watermelons are sold in upscale markets for three times the price of conventional round melons. By North American standards, the watermelons are small (10inches square). But for many, the price premium is worth it since otherwise they probably would not buy the larger round variety.

What I love about this story is the new twist on an old idea. Here is another new look at an old idea.

I have a friend named Ken who has created a start up company, which makes chair mats out of tempered glass. Similar to the round watermelons, conventional chair mats are pervasive but problematic for many people (see KBJ Enterprises LLC at http://cihop.com/)

The traditional plastic chair mat ages quickly, develops ruts, and becomes difficult for the chair to move. Because of this wear and tear they need to be replaced every few years. Frankly, as a person who sits at his desk all day long, I hate plastic chair mats.

Ken’s floor mats are made of tempered glass providing an ageless surface which allows your chair to move easily. No ruts. And no replacement needed. I suppose you could say that they are beautiful when compared to plastic floor mats after a couple of years of use. Like the square melon, the glass floor mats sell at a premium but from my perspective they are well worth it.

Both the square watermelon and glass floor mats are perfect examples of niche marketing—they both target a customer who was overlooked or underserved by the bigger players. The happy customer gladly pays the price premium to get what they want.

John Bradley Jackson
© Copyright 2008 All rights reserved.

The single greatest cause of sales “failure” is the fear of rejection— that creeping feeling that customers will tell you “no”. It can be so paralyzing that rookie and veteran sales people will go to great lengths to avoid that word.

This fear disables you from cold calling, closing, and from getting up in the morning. You see a lot sales people killing time at Starbucks; it is fear that makes them drink the coffee, not the caffeine.

Frankly, not of all us are cut out for sales, but most sales people can beat this fear. It can be conquered by a simple technique called “systematic desensitization”. This is a fancy term that describes how you can beat your fear by confronting it repeatedly. That’s right. The more you confront the fear, the more you will minimize it. You do it again and again until you lose your fear.

Conversely, if you do nothing and if you don’t confront the fear, you make your fears even larger. If you don’t make cold calls, they will become harder to do.

As it is says on the shampoo bottle: lather, rinse, and repeat.

John Bradley Jackson
© Copyright 2008 All rights reserved.

Non-Verbal Communication can be mightier than your words; this is especially true in-person. Your words are important, but your body language and “para-language” may transmit a louder message.

Studies have shown that people can “size up” another person in as little as three to four seconds. This judgment is a basic mammalian response that uses all our senses: sight, hearing, smell, touch, and taste. In addition, we call upon our past experiences with others to help us sort out friend from foe. If we had a bad experience with a tall, bald man once before, we might be wary of others who fit that description.

Body language may make up to 55% of communication. This includes posture, facial expressions such as smiling or frowning, hand and arm movements, and the tilt of your head. A hand moved in front of your mouth can indicate that you uncomfortable or don’t agree with the other party. Arms crossed can be sign of aggression or disagreement.

Akin to body language is the amount of space you maintain between yourself and others; while this space can be cultural and learned, it can also be an indicator of someone who is aggressive or unskilled socially. Standing too close to another person can make others very uncomfortable in western cultures, while in Middle Eastern cultures standing nose to nose is considered polite and a sign of friendship or trust.

Para-language is the use of intonation, sighs, and pauses in your speech; studies have shown that para-language accounts for 38% of communication. Once again culture may play a big role in use of para-language. For example, Japanese business people will use long pauses in meetings to reflect upon important points. These pauses show respect and wisdom; these pauses also allow for time to think and help you avoid saying something stupid. Para-language can be heard on the phone such as a sigh or an inflection of voice; our listening for these signals is more acute when on the phone. In-person you can actually see a sigh which involves a deep breath and its release.

Our words may say one thing while our body language and para-language may say another. For example, on a job interview you may try to say the right things while your nervous hands and sweaty brow may communicate another. The interviewer will know that you are nervous despite your confident words.

Another example is the behavior of a liar. Typically someone who is lying is stiff and uses few arm and hand movements. They avoid eye contact and they will turn away or turn sideways. Sometimes they unconsciously put things between you and them such as a stack of magazines or some other object to hide behind.

For business people the best advice may be to “be yourself”, since you cannot hide behind words.

P.S.

According to Business Week Online 2/16/07

“Take it from the scientists. Thirty-seven years ago, the late anthropologist and professor of communications Ray L. Birdwhistell demonstrated that less than 35% of the message in a conversation is conveyed by spoken words—the other 65% is communicated with facial expressions and body language. Says Matthew Lombard, a professor at Temple University and president of the International Society for Presence Research: “Without the visual, you miss most of the nonverbal cues.”

John Bradley Jackson
© Copyright 2006 All rights reserved.
Please visit my website at www.firstbestordifferent.com

I recently attended a workshop on public speaking moderated by Brian Collins of Ovat!ion, a training firm that helps business executives become better speakers. This session reminded me about how important it is for entrepreneurs to speak with confidence in front of groups.

Here are a few tips that I picked up from Brian:

- Smile. This radiates confidence.
- Pause before you begin. This will help you and the audience relax.
- Eye contact is critical to communication. Look at people directly for two seconds.
- Show up early and check out the venue. This gives you time to adjust things.
- Avoid cold drinks before a speech; they constrict the vocal cords.
- Drink hot herbal tea to sooth the vocal cords.
- Eat breakfast. Avoid dairy. Limit caffeine.
- Avoid flashy accessories that may reflect light. That means no “bling” for the ladies such as earrings.
- Rehearse in front of a mirror or use a video camera; this will help you monitor your use of gestures.
- Avoid filler words or expressions such as “and”, “you know”, etc.
- Speak conversationally. Avoid “business-speak” or words that you are uncomfortable using. Speak as if you are having coffee with friends.
- Open with a compelling introduction. Try asking the audience a question.
- Slow down and tell your story clearly.
- Repeat yourself. This helps people remember your message.
- Remember that you know more about your subject than 98% of your audience, so speak with authority.
- Always write your own introduction for the introducer to read. This avoids any false expectations.
- Conclude by repeating your message. People typically remember only one or two things from a speech, so make sure that they remember the most important points.
- Bask in the applause!

John Bradley Jackson
© Copyright 2006 All rights reserved.
Please visit my website at www.firstbestordifferent.com

You have are in the proverbial elevator and, low and behold, Bill Gates is standing right next you. Gulp! He turns your way and says, “So, tell me about your business.”

What should you say? I think that you need to answer the following basic questions:

1. Who or what are you?
2. What problem does your product or service solve?
3. How is your product or service different?
4. What are the benefits of your product and service?

Sample answer:

“First, Best, or Different: What Every Entrepreneur Needs to Know About Niche Marketing” is a new book dedicated to helping entrepreneurs target, sell, and serve customer segments who have been underserved or overlooked. Using short, easy-to-read chapters written in plain English, the book demystifies the art of niche marketing. If you apply the book’s simple techniques and methods, your business will be rewarded with increased sales, higher profits, and happy customers.”

Let’s get real. Thirty seconds goes by quick, so you need to wordsmith this statement carefully and practice it dozens of times. Also, be prepared for Type-A people to interrupt you with questions. That’s Ok since that is buying signal.

Ready, set, go!

John Bradley Jackson
© Copyright 2006 All rights reserved.
Please visit my website at www.firstbestordifferent.com