While scrolling through a few videos on YouTube recently, I bumped into a video I watched years ago of a a long speech today given by Dr. Benjamin Carson at the National Prayer Breakfast on February 12, 2013.
It’s absolutely not political and provides some interesting insights on addressing some of the challenges we face as a nation and a planet.
If you have a little less than thirty minutes (OMG!) to invest in the idea of thinking about some things differently, I think you will find the time worthwhile. If you don’t think there is any room for new ideas, you can save the thirty minutes for something important like posting on Facebook.
One of the interesting thoughts Dr. Carson shared was about our national debt – $16.5 trillion dollars and counting. He stated that if you started counting at one and spoke a number every second until you reached 16,500,000,000,000, it would only take you a little over 507,000 years to get there!
You may not have 16.5 trillion ideas about how to increase your sales results, but almost every financial services professional I’ve met over the past twenty-five plus years has many, many ideas on growing their business.
- Truth be told, I haven’t met a single financial services professional who is suffering from IDD – Idea Deficit Disorder.
- I have, however, met far too many financial services professional who are suffering from EDD – Execution Deficit Disorder.
They just can’t seem to get their ideas organized, prioritized, developed, designed and executed to produce results. Why?
Pause for a moment and think about this question for yourself.
Why do you struggle to successfully execute marketing and selling ideas?
Here are some of the answers we’ve heard:
- I’m not sure which idea(s) to choose
- I’m not sure how to start the project
- I don’t have the time to work on it
- I don’t have the right people to develop the idea
- I don’t know how to implement the idea
- I don’t know if it will work
- I can’t afford it
Let’s look at a few examples of EDD in action:
Let’s say you were considering a direct mail program.
Now why would you do that? Everyone knows direct mail doesn’t work, don’t they?
Well, maybe everyone except the business owners who spent nearly $50 billion on direct mail last year and those who sent the average household 25 direct mail pieces per week. (Someone should tell them direct mail does not work!)
So, what must you do to execute a single direct mail program?
- Determine your objectives, schedule, budget and marketing concept
- Acquiring the right target list for your specific program
- Writing the copy, including creating a great headline, conveying the benefits, painting an emotional picture, describing the features and functions, clearly stating the benefit, providing proof and credibility, testimonials, endorsements, making the closing offer and guarantee and of course never forgetting the P.S.
- Designing it
- Printing it
- Processing it and
- Mailing it
… and have your follow-up process designed to close sales on those who respond
… and how you’ll go back to those who don’t
… and how you’ll measure success
… and so much more!
Let’s take a look at another example – designing an advertisement for your business.
You could do what everyone else does …
- Put your logo at the top of the ad
- Create a long list of the many services or products you offer
- Bury a series of irrelevant pictures in the middle of your ad
- Tell them that you have been in business since the Stone Age
- Regurgitate the same platitudes that everyone else in your industry touts
- Put your phone number in big red letters
- Make your ad all about price and
- Remind them you accept all credit cards
Alternatively, you could shift your focus from you to your prospects:
- Interrupt them with a compelling headline that’s about their problem
- Engage them with the solutions you have for their problem
- Educate them on important information they must know about the problem
- Offer them a free, no-risk method of learning more about the solution (not learning more about you!)
We’ll make this example brief – let’s talk about your website.
We’ll start with your Home Page. Does it shout out “Me! Me! Me!” or or does it shout out “You! You! You!” (Ms. Prospect)?
If your website is like 99% of the websites we see, we know the answer.
How will you manage the marketing project of getting from “Me” (meaning it’s all about you) to “You” (meaning it’s all about your prospect)?
Isn’t It Time to Implement Your Ideas?
Is it any wonder that so many great marketing ideas die a quiet death on the business execution table?
Here’s the next big idea you need to have for your business: develop the ability to execute your marketing programs and projects … and do it quickly … before your competition executes their marketing ideas and jettisons you to oblivion!
You don’t have to do this alone. Let’s work together to eliminate EDD in your financial services practice!