Tryvertising and Customer-made

The best way to gain consumer trust is to shift the seller power to the buyer. How?

The most extreme (and most effective) way is for consumers to make their own products and services. Think Subway (make your own sub), Dell (build your own computer) and write-your-own will kits. In these examples, the seller is inviting the consumer into the 'production process' and as a result reducing dependence.

Tryvertising is an intriguing term used to describe sampling as the call to action in advertising. Examples include 'visit your nearest dealer to test drive today' and 'receive your free perfume sample inside this magazine'.

By the way, I came across the terms 'customer-made' and 'tryvertising' in The Truth about Trust in Business which I have recently finished reading. The book supports the position that traditional advertising is losing its effectiveness as consumers are becoming increasingly sceptical.

"In a study conducted by Edelman in 2005, 45% of people surveyed said their most trusted information source was personal contacts, with only 4% trusting advertisements". In summary, consumers are more likely to trust other consumers than organisations.

Small Business Champion Awards

At Destiny Financial Solutions, I am able to put performance predictors into action. This is a video of me accepting the NSW & ACT Small Business Champion Award (Professional Services) for Destiny. And yes, I do need to work more on my celebration dance :-)

How a negative performance predictor almost turned off a prospective staff member

Performance predictors have a positive impact throughout an organisation, not only in marketing circles. Conversely, negative performance predictors can result in negative impacts to an organisation outside of marketing.

Yesterday, we almost lost a prospective staff member due to the sub-standard fit-out and poor external appearance of one of our offices. The prospective staff member was interested in applying for a vacant position within Destiny Financial Solutions, however was intending to withdraw his interest after driving past our office.

It took some convincing to assure him that this office was closing during the week and a new office with an updated fit-out and professional appearance re-opening.

The point is, performance predictors such as office appearance, have a far greater impact than just marketing. Furthermore, what impact are negative performance predictors having on your organisation? Perhaps you don't even know the extent of this problem...

Sampling is universal

Sampling is a very powerful type of performance predictor. There is no better way to 'fast forward a prospective customer into the future' than to actually allow them to experience the product or service first hand.

Last night I was part of an informative teleconference call hosted by Results Coaching Systems. The teleconference itself was a performance predictor for the organisation - professionally conducted, innovative and contained experiential content. However, the closing offer proved to me that sampling is universally possible, even in the case of a highly intangible service like business coaching.

All participants on the call where offered a sample 1.5 hour coaching session with a Results Coach. No cost, no obligation. The message was simple - try out one of our coaches for yourself so you can experience how good we really are.

All that glitters is not gold

As consumers, we are attracted to products and businesses because of the glitter, sizzle and bling. We are driven by emotion first, and logic later.

Whilst presenting a professional image is a performance predictor in its own right, it should not be the only performance predictor your business offers. You might be successful in the short-term, but glitter with no gold is not sustainable.

I agree with Lynn Upshaw, in his book Truth: The New Rules for Marketing in a Skeptical World when he cites "offering only products and services that perform so superbly that they generate their own marketing momentum, above and beyond formal marketing efforts" as an astute tactic.

Increasingly, consumers are scratching the surface to see what is hidden under the glitter. After all, nobody wants to be caught with fools gold.

Replacing the megaphone with a magnet

Is it possible to remove 'promotion' from an organisation's marketing strategy and still operate a profitable enterprise? Effectively stopping all advertising, sales promotions, online marketing, PR and direct marketing. This would be a very bold move to say the least.

It could work.

To pull off this marketing miracle, you would have to develop and continually innovate a great product. You would have to build performance predictors and lead generation into the product, price and distribution channels.

Has it been done before? World-class surgeons have been doing this for years. Their reputations (created by delivering a great product) acts to draw in new clients. They don't advertise or sell or send press releases or direct mail. And theirs' is amongst the most profitable of business models in the world.

Why performance predictors matter

During the process of writing this book, I consulted various colleagues, associates, friends and family. Many provided valuable input which shaped my thinking on the topic. Often the most difficult feedback to receive, but more useful than a vague 'slap on the back', is critical analysis of the concept and its relevance.

After I had explained the concept of performance predictors to an associate he simply asked, "Why do performance predictors matter?" At the time I was taken back, however this powerful question forced me to drive deeper into the concept.

Performance predictors matter because it is unfair for marketers to ask consumers to trust their claims, when they have a vested interest in the consumer buying. In an increasingly distrusting society, performance predictors matter more than ever.