Could MicroPayments Create A New Revenue Stream For You?

A micropayment is a financial transaction involving a very small sum of money. PayPal defines a micropayment as a transaction of less than 12 USD. Much of this you see online. For example you can buy content to enhance your console games. In itunes you buy one song or a tv show episode. Many consumers don't really think much of spending 2 or 3 bucks on an item. Many websites have premium or members only content for monthly micropayment. This is not only online but off line as well. The "Dollar Store" has become big business. Recently I have seen this spread into the grocery stores with the mini cup of ice cream for only a dollar. You might even make a quick sales because the transaction is small enough it doesn't need budget approval.

So let's think for a moment. What micropayments can you add to your business? Hopefully your salesman take great notes on objections, especially when it comes to price. This will make the brainstorming of ideas much easier. (if they don't see Telenotes for some help with that) Write these objections on the board. Are there some that indicate the prospect needed a few but not all the features? Is an opportunity to create a lite version. Later on the salesman could present other features for a little more a month. (Much like the cable companies do.) Or what about offering a subscription model instead of the one time payment. World of WarCraft 9.99 a month multiplied by how many users...That's a lot of money. Can you offer some silly extras like the apparel offered for your XBOX avatar? Could you take a half gallon ice cream selling for $4.99 and package it into 10 6oz. cups selling for $1 each.

Each of your opportunities is unique and profitable.

Fred Abaroa
The Marketing Imagineer
Fred [@] TMIFred.com
@TMIFred 

5 Methods For Effective Note Taking

There are mainly two reasons you go to a presentation. It is either to learn or to network and many time both. It is obvious that effective note taking will help you learn, but did you know that sharing notes is a great way to establish relationships? With that in mind here are my 5 methods for effective note taking:

1. Make your notes brief! Never use a sentence where you can use a phrase. Never use a phrase when you can use a word. Use abbreviations and symbols but be consistent.
2. Put most notes in your own words. Some exceptions will be formulas, definitions and specific facts.
3. Use outline form and or numbering system. Indentation helps you distinguish major from minor points.
4. If you miss a statement, write key words, draw a line where the missing words will go and the details later. (I use this as a conversation starter, "That was a great presentation. Do you remember the part about... I need to fill in some blanks)
5. Don't try to use every space on the page. Leave room for note sharing with others. You may want to list key items in the margins

If you are an artist like Peter Durand you can take notes by drawing a picture. See his notes from PopTech at http:\\www.alphachimp.com. I actually use this are to help me review my notes. I also use Evernote to synchronize my notes on my iphone, ipad and pc. That way I can refer to my notes practically anywhere. I discovered SoundNote for the iPad. It records the audio while you take notes. Later you can touch your note to fast forward to that part in the audio. I have to warn you it could make you a lazy note taker.

These are just a few methods to make you a more effective note taker. Share some of you note taking tips, tricks and disaster stories in the comments section below.

Fred Abaroa
The Marketing Imagineer
Fred [@] TMIFred.com
@TMIFred

Is My Work Over? 5 Tips For Post Conference Power

Just got back from Pop!Tech, a conference for "world changing people, projects and ideas". (poptech.org) I've attended off and on since 1997. As usual I have a lot of notes not only on the content but the people I met as well. Can't wait till next year!C-Ya.

WAIT! Don't just close the books on the conference for another year! Do something about it! After all did you take notes just to look busy? What about those people you met? Here are 5 things every conference attendee should do immediately after returning (or on the return trip):

1. Add your contacts to LinkedIn
2. Re-Read your notes
3. Create an action plan
4. Upload photos to Facebook
5. Write a Blog about the event

Some of the things above are great on the plane ride home, other when you first get back to the office. And I mean First! I know, I know you are back from days away from you desk and work has piled up. BUT you need to ask yourself why you paid money to attend if you were not going to do something. The act of DOING seems to take a back seat to learning. Not anymore because you are going through the 5 steps above.

Add Your New Contacts To LinkedIn. Why LinkedIn you are asking? Well unless you have telenotes and can dictate your contacts via the phone, you have a lot of typing to do. I just search on the name and all the rest of the info is there. Plus in LinkedIn I can see who else works for the company and gather more intelligence about the new contact. Later I'll add them to facebook so I can wish my new contact a happy birthday.

Re-Read Your Notes. I don't know about you but sometimes I can't understand what I wrote. Especially months afterwards. I find if I re-read and make further notes back at the hotel that evening the talks and impressions are locked in.

Create An Action Plan. "be ye doers of the word, and not hearers only" James 1:22 This verse of scripture haunts me at times when I heard a great talk noting I should make a change. But never made it a plan. We hear great things but if we are not going to implement them why go?

Upload Photos to Facebook. This is part of my devious find their birthday plan. I take pictures of various things and people at these conferences. Mostly as part of my continuing study of networking events, but I discovered attendees love to see photos. This last year I took some pictures of an art sculpture where people had climbed in to pose. They told me post it on facebook. From there I had a few others friend me to see the photos. I just took the meeting people at a conference to a new level. The other plus as I mentioned before is birthday notices.

Write A Blog About The Event. What this does is two things. One it solidifies the most important take away from the event. After all in producing the blog you will probably only spout out what impressed you the most. Two it brands you as a person who wants to better themselves though continuing education. You show you clients and prospective clients you are open to new ideas and learning.

Fred Abaroa
The Marketing Imagineer
Fred [@] TMIFred.com
@TMIFred

Does Your Perfect Storm Sponsorship Include These 5 Criteria?

I was stuffing attendee bags for niche conference yesturday and noticed there wasn't as much swag as years gone by. Others noticed this as well and commented that companies just aren't sponsoring like they used to. My marketing brain went into "Are they crazy?" mode. This conference is perfect to promote new and innovative products. The people who come here are influencers and highly educated. Many are journalist looking to write about new things that will help our environment or third world countries. This audience writes books, they speak or perform in large audiences all over the world. This conference is the perfect storm to groom accidental salesmen for your product. I admit i do not know the circumstances behind the lack of swag and I don't know what the criteria is to sponsor a conference of this magnitude. I would hate to miss out on a chase like this do be a sponsor.

So here are five tips on how to make an intelligent decision on what conferences to sponsor and they all have to do with the audience:

1. Are they influencers?
2. Are many of the C level leaders in their companies?
3. Are they members of the press?
4. Did they pay a substantial sum to attend and are there less than one thousand attendees?
5. Is the purpose of the conference to spread ideas? 

Bonus criteria: Would your product wow the attendees, speakers and staff?

So do a little research and get big pay back for your sponsorship. Oh and if I make you a million with this little bit of advice, cut me in for a few bucks.

Fred Abaroa
The Marketing Imagineer
Fred [@] TMIFred.com
@TMIFred

Success After 5

Remember the Dolly Parton song "Workin' 9-5, what a way to make a livin'"? Well I hate to say Dolly is wrong, but she was!

If you own your own business or work on a commision the best time to work comes after 5pm. I am talking about attending networking events. A networking event is any gathering of business people. The purpose of these gatherings is to meet others and exhange business cards. Here are 7 pointers on taking this strategy to the next level.

• Know who you want to meet
• Understand that networking is a process
• Go to give, not to take
• Have a goal for each event
• Take notes
• Follow-up

Fred Abaroa
The Marketing Imagineer
Fred [@] TMIFred.com
@TMIFred

 

Using the iPad to Pick Up Contacts

In my soon to be bestselling book "The Pick Up Artist: Business Edition", I talk about importance of props. A prop is anything that draws attention to you and starts a conversation. I used my Macbook Air, kindle and of course my green glasses. The props work great but only if they are in plain sight. That is why my green glasses work so great. I have received compliments for them all across the country. I further us them as predominately in my avatar and use the color for my iPhone case and other apparel at the same time. Yes the glasses work great but I need other props to keep it fresh.

The iPad is the latest in great props. I recently had one at a get together of father and sons. I didn't even take it out of the pouch and became the center of the conversation for the next 2 hours. My other thoughts are to carry it around with an enlarged version of my business card showing or a presentation deck running on it. That surely will stir up some conversations. I am in the process of developing some new consumer products for Treeno Software on the iPad. This will become an even more intimate pick up technique as many will want to see what I have done and dream up their own app. It may be expensive but you have to look at it as part of your advertising budget.

Props are wonderful pick up tools. Tell me what your favorite prop is and how you have used it effectively.

Fred Abaroa
The Marketing Imagineer
Fred [@] TMIFred.com
@TMIFred

The Coupon Trick

I just received a coupon book from my big box store that will save me over $1000 in coupons. Sounds good doesn't it. Your small business could offer something similar and it won't break you. You see there is a trick. A little bit of it is math and a little bit customer behaviour. 

The Math
$1000 per customer sound like a lot of money to "lose". But if you take that money and spread it out over a year it is only $2.74 per day. A simple method therefore is to make it a one day coupon. You can further diminish your cost by making the coupon more specific to an item.  Probably something with a high profit margin.

The Behavior
Most consumers don't use coupons. However they love the idea they can get a coupon which makes them think about your business. Most consumers will not come to your business everyday so just to save the $1000 for the year.  However they will come more often because they have seen the coupon.

There you have it, The Coupon Trick in a nutshell.

Fred Abaroa
The Marketing Imagineer
Fred [@] TMIFred.com
@TMIFred

Booth Babes

I overheard a conversation the other day about tradeshow booths. All I could think of was Booth Babes. Not the scantely dresses ones but how these people were babes when it came to booth design. Then it occured to me that in the 25 years of working for companies who have booths at tradeshow not once did they consult their marketing company or staff. Odd isn't it. So let me take a few minutes to talk about Booths.

First what is the purpose? I have been to hundreds of tradeshows and wonder why some of the companies even bothered. Did they not know why they were there? I know some companies show up to have a presence and bank on the times outside of the tradeshow to really shine. With this attitude, and it shows in your booth, your company really isn't attracting much new business. The purpose for you being there is to make new contacts and cement your relationships with the old. 

Second how to attract passers by. Before you attend the conference get an attendee list and email them. In the email put a picture of the people who will be manning the booth and maybe a picture of the booth. What this does is prepare the attendees mind or reticular activating system. Then when the attendee arrives they see your booth or face and feel there is something they were supposed to do there. The booth needs props. I like a spinning wheel of prizes. I own a really loud one. My success with this wheel was beyond my dreams. I was invited to be at many tradeshow just because I made it fun. It was that spinning wheel believe me. And a little secret, while many had to pay to display, I didn't. Another fun prop is a Gobo light. These are spot lights that have your logo or any image. Shine them on the hall way where the attendees are walking. and at night outside my hotel room. It attracts a lot of attention. Another thing is to have someone from your booth walk the show floor engaging with the attendees. Even mentioning the spinning wheel like this, "Have you seen the booth with the spinning wheel? I think it is the best booth out here." This really works. Now for the booth itself. You need pictures more than words. If your a small company that integrates with big companies have their logo on your booth. Most of all have your logo needs to be on everything. You need some great giveaways. No pens, Toys. Something that stand out. My favorite has been the bouncing lightup balls, notepads or journals, and recycle bags. Talk to my friends at FunManPromotions.com they have taken the time to discover what are the most effective swag.

Third and most important part of the booth are the people. They should be lively, well dressed and friendly. Their attitude should be one of service. What I mean is that their company is ready to serve and it has a place for everyone. The thinking should be, "Everyone wants to know about my company. How am I going to introduce it to the attendees" I have been attracted to booths more by a friendly smile than by anything else in the booth. I met a man once who was an expert. As people passed by he asked a simple question, "Did you get that frisbee here at the tradeshow?" The conversation was started. He would ask where they found the frisbee, what that company did and that his swag was better. 

One last thought, Clutter Study. I have been involved in this for magazine and grocery shelf studies so why not a booth. Essential you take the product and put it on the rack or shelf with other similar products, show it to the user for 5 seconds and see what they recall. The secret is in showing several versions of the product packaging randomly placed on the shelf. The results in the magazine cover study tracked exactly with newsstand sales. It would not be a stretch to do this with a Booth. 

I am excited to go to the next tradeshow, are you? If not maybe I can help you get ready.

Fred Abaroa
The Marketing Imagineer
Fred [@] TMIFred.com