BusinessNews Publishing - Summary: Jump Start Your Business Brain: Review and Analysis of Halls Book

Book Abstract

In just the same way as the laws of physics apply all the time and in all situations, success in business is not random. There are laws which apply to business marketing and business creativity. If you comply with these laws, you will discover, develop and harness great ideas for new products and services. You increase your odds of success by using scientifically proven concepts rather than leaving everything to chance.

Ideas are the only true fuel for winning customers and growing profits. In fact, the idea is, at its essence, the core reason for being for any business enterprise. Without an idea, nothing else matters. You can have the most cost-efficient manufacturing process and the most outstanding customer service system and distribution system on the earth. Without an idea that excites customers, you will soon no longer be an operating business. Customer-focused ideas drive sales and fundamental valuation of your company. Ideas are the secret weapon that allows small businesses to compete with and beat larger companies. Now is the time to increase your odds of success by learning the skills you need to take action and to take control over your probability of future success.

Doug Hall

About the Author

DOUG HALL is the founder of his own consulting company specializing in business innovation. A graduate of the University of Maine, Mr. Hall began his career with Procter & Gamble where he developed marketing programs. He then founded his consulting company Eureka! Ranch as a corporate think tank with offices in Cincinnati and London. Mr. Hall is the host of Brain Brew Radio, a syndicated radio show which helps entrepreneurs. He also served as a judge on ABCs reality show, American Inventor. He is the author or co-author of three business books including Jump Start Your Brain and Maverick Mindset.

Mr. Halls Web site is at www.doughall.com .

Important Note About This Ebook

This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.

1. Three Laws of Marketing Physics

Focus on communicating whats in it for the customer

Customers will always maintain their current buying behaviors Until they come into contact with an overt and appealing alternative benefit. Do everything you can to provide potential customers with an obvious and overt benefit which will capture their attention.

Most people tend to be creatures of habit. They will keep doing what they have always done and purchasing what they have always bought until a highly appealing new benefit leaps out at them. Its only when they can realize a dramatic improvement in some area they will actually start buying something different. With this in mind, every time you communicate with potential customers, state clearly and persuasively whats in it for them if they buy from you.

Note here you need to be talking about benefits rather than product features. Benefits are what the customer will receive, enjoy or experience. Features are the technology or other details which make up the structure of your product or service. Benefits motivate people to act whereas features are only of passing interest to most people. Focus on expressing your most overt or persuasive benefit each time you talk to anyone who could become your customer.

Most people today are very busy. They generally dont have the time to do in-depth research about much at all. In addition, the average person is exposed to a large number of marketing communications each day. Therefore, to be noticed, you have to be bold, brash and almost in-your-face about the most overt benefit you have to offer. If there is no clear overt benefit involved, then pricing becomes the sole determinant for customers. Thats not the way to achieve superior profitability. If you carve out an overt benefit and become known for that, the odds that people will choose your product or your service increase.

So how do you go about developing an overt benefit you can shout form the rooftops? Some suggestions:

1. Start by converting all your features into customer benefits by listing all the attributes of your product or service and asking yourself: What does my customer receive as a result of this product feature?
2. Make a list of all your potential benefits and consider whether or not your competitors offer the same benefits with their products or services.
3. Embellish and highlight the appeal of each benefit by adding descriptive phrases that are couched in terms of the customer benefit. This turns generic benefits into overt benefits only you can offer. For example:
   • Benefit: fast shoeshines

   Overt benefit: 2-minute professional shoeshines

   • Benefit: Durable shoeshine

   Overt benefit: Armor shoeshine protects shoes for 7-days

   • Benefit: Whole shoe care

   Overt benefit: Special anti-slip sole treatments

Be very blunt about what you have to offer. Have the mind-set its fine for people to say No to what you offer, but you never want to have someone say No because they didnt understand what you had to offer. Let the world know about the great product or service you have sweated and toiled to develop. Remember, as long as you actually deliver what you promise, then it isnt boasting to talk about your offering in glowing terms.

The key benefits of better communicating overt benefits are:

• You can become known for what you deliver people can respect the fact you deliver a world-class product or service because youve taken the time and effort to educate them a little about whats going on.
• You pre-qualify prospective customers by emphasizing your overt benefit because the only people who will follow through with you will be those to whom this benefit appeals most directly.
• You make it easier for customers to tell their friends about your product or service because all they have to remember is the overt benefit you offer.
• You give everyone in your own organization something to focus on meaning they can become more effective at delivering whatever differentiates your firm.
• You can focus better on a specific target market because youll know what market segments youre targeting rather than attempting to interest everyone.

  The more you focus on doing one thing great, the greater your probability of success. Focus also elevates you from a mere merchant of goods or services to the level of becoming a brand. Asa brand, you gain your customers respect for your expertise in a specific area. Because of your expertise, customers are more likely to try your new products and also more likely to repeat purchase your goods or services. Also important, customers are willing to pay a premium price to an expert.

  Doug Hall

  In my own business, defining the Overt Benefit is an annual affair. Each fall I personally craft our brochure and marketing message for the upcoming new year. The process involves looking at what competition is saying, talking to my core customers and combining these inputs by writing dozens and dozens of alternatives. From this process evolves a fresh way to say the Eureka! Ranch provides big ideas. By personally evolving our message on an annual basis, I insure that I am in touch with the marketplace and that the organization is focused on what I, as the leader, feel is most important. With a focus properly set, all levels of the organization know where to focus their energies and, just as important, where not to focus their energies.