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Time For the Long View

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In my last Say It For You blog post, I shared insights to the way investors tend to invest the majority of their money in domestic equities, ignoring the benefits of diversifying into foreign companies. As content marketers, I explained, using consistent posting of valuable information, we can position our clients as SMEs, giving them a better chance at overcoming their prospects’ home biases….

A second insight into investor behavior that can prove valuable in content creation is what Sam Savage dubs “the Flaw of Averages” (a play on “Law of Averages”.  The S&P 500 stock market index is a good example of the way statistics can be misunderstood, Savage explains.

The US stock market has delivered an average annual return of around 10% since 1926, Dimensional points out. But short-term results may vary, and in any given period stock returns can be positive, negative, or flat. Over the years 1957 through the end of 2023, the S&P Index has returned an annualized average return of 10.26%. But, what is the proper way to view those results?

  • On a daily basis, the index was up 52% of the time.
  • The S&P 500 was up in 73% of the individual years over that time frame.
  • The S&P 500 was up in 95% of the ten year periods of its existence.

At Say It For You, we’ve learned over the years that in content marketing, nothing speaks quite as loud as numbers. Statistics dispel false impressions, grab web visitors’ attention, and demonstrate the extent of the problem the business owner or practitioner can help solve.

At the same time, ethical marketing means promoting products or services in a manner that is both honest and responsible, Nathan Neely points out in the LinkedIn article “Doing the Right Thing”. That means providing accurate information about pricing, ingredients, including being transparent about how data is collected.

In creating content, we want to:

  1. position our business owners or professional practitioners as Subject Matter Experts
  2. provide visitors to our clients’ websites with valuable information and a positive experience
  3. use statistics to both educate readers and stimulate them to action.

Throughout the process, though, we need to demonstrate to prospects the value of taking a long view in their buying decisions.

 

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In Content Marketing, Consider Readers’ Home Bias

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When it comes to their stock portfolios, financial advisor James Cheng observes, investors tend to invest the majority of their money in domestic equities, ignoring the benefits of diversifying into foreign companies.  Home bias isn’t restricted to American investors, he explains – investors from all over the world tend to prefer investing in companies based in their own country. While being too concentrated in any one area of the market can actually be a dangerous practice, Alexander Joshi Of Barclays of London cautions, exposing an investor’s portfolio to elevated market volatility, investors would rather invest in things with which they are already familiar, rather than moving into the unknown.

While the expression “home bias” originated in finance, familiarity bias influences consumer behavior in every aspect of life. “Have you ever noticed yourself gravitating towards the same brand of coffee or choosing to watch movies from a favorite genre repeatedly?”  Octet Design Journal asks. Gravitating towards familiar faces and avoiding interactions with strangers can mean missing out on valuable relationships and opportunities.

How can sellers overcome this inherent yet irrational desire to keep something the same, even if it’s less than optimal?  While prospect theory explains that people are more averse to losing what they have than benefitting from something new, value selling can help overcome your customers’ status quo bias, David Sviel  of ROI Selling suggests. “Your job,” he tells salespeople, “is to convince them that, despite the risk of making a change, which always exists, not making a change has its own risks and consequences.”

Will blog marketing “close” deals in the same way as a face-to-face encounter between a prospect and a sales professional? The answer is obviously “no”, we explain to our Say It For You content marketing prospects. On the other hand, prospects what have been reading your blog posts will typically enter the sales process more educated on your place in the market, your industry, and what you have to offer. Consistent posting of valuable information positions you as a SME, or Subject Matter expert, offering you a much greater chance to overcome your audience’s “home bias”.

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No-No Expressions in Content Marketing

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Earlier this week, our Say It For You blog highlighted some very good tips Bruce Sanders offers in Financial Advisor Magazine to financial advisors about staying in touch with their clients. As a content marketing, I particularly appreciated Sanders’ advice concerning specific expressions advisors would do well to avoid in their communications.  “You might say something you consider witty or simply plain speaking, but your client might take it the wrong way”, he warns…

1.   You’re meeting with a client and the phone rings. You say “I can ignore that call”. Your intention was to show that the person in front of you is most important and that this meeting should not be interrupted. The client, Sanders cautions, might wonder if their call might get the same “brush-off” treatment when they need to talk to you.

2.   A client has learned that they cannot do something they wanted to do, either because of technology or other changes in policy. If you say “It’s firm policy”, that’s a turn-off – your client feels you should be arguing their case. See this from the client’s perspective. Show that you understand their frustration. Then show how the change will benefit the client in the long run, Sanders advises.

3.   “I want all your money”. Don’t offer an “all or nothing” scenario in which prospects must sever relationships with other vendors or professionals as a condition of dealing with you, Sanders warns.

“Powerful customer service phrases can help you improve client interactions by instilling trust, touchpoint.com explains. “Is there anything else I can assist you with?” shows that a service representative is eager to go above and beyond to ensure the customer’s satisfaction. If concerns arise, saying “Thanks for bringing this to our attention!”, or “I apologize for the inconvenience” can help maintain trust..

For content marketers, this advice applies to negative comments that readers sometimes make about a business, using social media. When those customer complaints and concerns are recognized and dealt with “in front of other people” (i.e. in the content available to all readers), it gives the “apology” more weight.  “Letting the client tell his/her story,” gives the owner or practitioner the chance to offer useful information to other readers and to explain any changes in policy that resulted from the situation. But, even when there haven’t been negative comments or outright complaints, we must engage readers and show them we understand the dilemmas they’re facing, going right to the heart of any fears or concerns they might have.

Getting everything “out on the table”, thereby building trust? Why, that may be one of the most valuable functions of content marketing!

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Convey the Concept through a Warm Human Storyteller

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Lately, brands increasingly prioritize people as the voice of their value, Robert Rose writes in “Trust the Story, or the Storyteller?‘

“Storytelling is a powerful marketing tool that can be used to connect with customers on an emotional level, build trust and credibility, and ultimately drive sales,” Oxford Academic agrees, naming three reasons stories are so important a part of content marketing:

  1. Stories evoke emotions – empathy, joy, sadness, anger.
  2. Stories offer a glimpse into your values and beliefs.
  3. Storytelling gives your brand a unique personality. There are many different types of stories that can be used to connect with customers, the authors point out, including brand stories, customer experience stories, employee experience stories, customer testimonial stories, and case studies.  No matter the type of story, the point is to use vivid language to help readers visualize the event or happening.While it’s true that stories help us remember, that’s not good enough, Joe Lazuskas explains – they have to make us care.  Your stories need to talk about why you come to work every day, and about what you believe the future of your industry ought to look like. Two particularly important elements of a story are:
    a)Relatability – you’re telling the story of a person similar to the target reader.  b) Fluency – Realistically, Lazuskas reminds us, most U.S. adults can’t read at even a high school level; we need to keep a low barrier to entry between the audience and the story level.

    As a content marketer at Say It For You, I can never forget an article I read years ago about an experiment performed at Stanford University.  Students were each asked to give one-minute speeches containing three statistics and one story.  Later, students were asked to recall the highlights in each other’s talk.  Only five percent of the listeners remembered a single statistic, while 63% were able to remember the story line.

To convey marketing concepts, use a warm, human storyteller!

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Tell Them How You Ship the Diamonds

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In Tuesday’s blog post I used the “Hear your happy holidays” headline of an AudioNova ad in the Indianapolis Star to illustrate the importance of results-driven marketing, suggesting that content marketers need to focus on results of using the product or service rather than on its features…

There’s more to it than that, however. As Seth Godin points out in his book This Is Marketing, as content marketers we need to differentiate the path our business owner or practitioner clients choose to take in helping their customers achieve those results. Diamonds, for example, can be transported in an armored car or put in a package and sent by mail. What is more likely to be valued by your customer – speed of delivery or safety? Dedicate effort to empathize with your audience, comprehend their obstacles, and reflect on how your offerings can assist them in reaching their objectives, Godin urges content creators.

“To put it as succinctly as possible, a key differentiator is a brand’s distinct and unique value that sets itself apart from its competitors within the market,” brandmasteracademy.com explains. Also known as the USP (Unique Selling Proposition) the differentiator answers the question: “Why should I choose this brand over its competitors?”

Interestingly, as Elizabeth Harr and Lee Frederiksen, PH.D point out in hingemarketing.com, many so-called differentiators make a company sound more like their competitors! To be effective, the authors explain, a differentiator must meet three criteria:

  • It must be true.
  • It must be relevant to potential clients.
  • It must be provable.

In Get Different: Marketing That Can’t Be Ignored, Mike Michalowicz remarks that, to customers, “better” might not actually be better. Different is better.The author tells business owners to discover their best “est” – Are you the oddest? Hokiest? Sharpest? Fastest? Safest?

In all your content marketing, tell them just how AudioNova will help them hear the holidays. What about your diamonds? Will you be shipping them via the U.S. Postal Service or using armored cars?

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