The Business Blitz:
Your Winning Strategy for a Sluggish Economy
What business lessons have you learned from football season? Haven't really
thought about it, you say? Well, here are some pigskin principles especially
for financial
services professionals.
By Maribeth Kuzmeski, MBA, RFC
Ah, the thrill of the blitz! Football fans know the play well. The defensive
team rushes the quarterback as soon as the ball is snapped, leaving the rest
of the field wide open. Sure, they're taking a chance, but the sheer gutsiness
of the strategy often ensures its success. As a financial services executive,
don't you wish you could make a comparable move to give yourself an edge over
the competition?
This is a question I frequently pose to my financial services clients these days.
Why? Because too many firms in our industry are running scared—and because
I want my clients to see that it's to their advantage to take dramatic action
while their competitors are busy doing nothing.
In business, what blitz means
is to move quickly, precisely and unexpectedly. And if you'll look around you,
you'll notice most financial services companies aren't doing anything remotely
resembling a blitz. That's because in an uncertain economy, most business leaders
(particularly in our field) lose their nerve. They fall back and wait for things
to pick up, they hoard their resources, and they wring their hands wondering
what to do next. And precisely because the competition isn't making any decisive
moves, now is a great time for you to do so.
My Red Zone Marketing philosophy—from
which came the title of my new book Red Zone Marketing: A Playbook For Winning
All The Business You Want—is
already geared toward quick, decisive action. Basically, it compares the most
critical and magnified area on the football field, the red zone (the final 20
yards before the goal line) to the most critical and magnified area in business
(the unmarked territory where you either lose or win a prospective customer).
Because Red Zone Marketing practitioners must "step up" their efforts
at the moment of truth, they should have the skills, the energy and the chutzpah
to blitz in a sluggish economy.
Executing a blitz can mean different things to
different companies. Generally, it means fearlessly putting your resources into
well-thought-out marketing efforts, rather than maintaining a conservative (i.e.,
fear-driven) holding pattern. Consider the following suggestions:
Blitz Component
#1: Act Quickly.
In order to gain the edge on your competition, you must strike
while the iron is hot. When you see an opportunity, seize it! This is where small
firms tend to have the advantage, because they are inherently more agile. They
don't have bureaucracy and red tape to wade through. Of course, larger corporations
can be structured in such a way that each department has plenty of autonomy,
and this sets them apart from their more cumbersome brethren.
Red Zone Marketing
Tip: Use The Electronic Superhighway To Your Advantage.
Obviously, you have your
own Web site, or at the very least, an Internet connection. This is the perfect
medium through which to dispense lightening-quick, timely information to your
clients and prospects. E-mail—both impromptu messages
and regular e-newsletters—is a great way to regularly keep in touch with
these all-important people. Once your clients have gotten accustomed to receiving
valuable e-mail from you, they will be very receptive to any 'urgent' messages
you may send . . . say, notification of a can't-miss-it mutual fund special or
an educational seminar on a new tax law.
Blitz Component #2: Act Precisely.
Obviously,
in football, nothing is more precise than a blitz. Everyone is running after
the same man! But how does a company act precisely? By focusing all of its marketing
efforts on its natural niche, that small corner of business that comes easily
to you and is most rewarding. No company can be all things to all people; indeed,
the company that tries to do so is destined to fail. In my new book, I describe
lots of ways to find and target your niche. Here are just a few of them:
Red Zone
Marketing Tip: Four Ways To Cultivate Your Natural Niche:
• Target the top two publications in your industry and write dynamite articles
for them. Make this a priority!
• Become a prominent and visible member of the best trade association in your
industry.
• Create educational opportunities such as seminars and 'lunch and learn' workshops.
Be innovative! You'll make a name for
yourself as an expert in your field.
• Use testimonials and success stories in your particular niche; they gain you
more of the same type of business by acting
like referrals.
Blitz Component #3: Act Unexpectedly.
The element of surprise
is what makes the blitz so effective in football. Likewise, in business, it's
a great idea to catch your competitors (and even your prospects) off guard. Taking
dramatic action in an economy when most financial services firms are doing anything
but is already unexpected. But the action you take should be unexpected as well-boldness
gets attention, and results.
Red Zone Marketing Tip: Turn A Stumbling
Block Into A Stepping Stone.
Here is a real-life example of a business that took a very unexpected
approach to what most would agree was a disaster:
During his tenure as director
of marketing at a local bank, disaster struck a colleague of mine. For months,
he had been promoting what was to be the bank's second branch office. Then, just
a few days before the grand opening, a fire destroyed the building. What did
my friend do? Well, even before the blaze was extinguished, he had a photographer
on hand taking pictures of the burning structure. He then turned them into newspaper
ads with copy like "Sorry You Missed
Our Housewarming - It Wasn't Quite The Way We Planned It!" Later ads showed
construction of the new office in progress, proclaiming, "You Can Build
- While We Rebuild," and encouraging readers to use the bank's temporary
facilities next door.
A year later the bank finally staged its grand opening.
The volunteer fire department, which had fought the blaze, displayed its equipment
in the parking lot, and the traditional ribbon-cutting ceremony was replaced
by - of course! - a ribbon burning. The weeklong opening celebration included
a display of rare, original Currier & Ives fire prints, TV films of the bank
fire, miniature fire hats, and more. See the value of the unexpected act?
Executing a blitz is,
indeed, a great way to rise above the torpor that too many companies fall into.
Besides, it’s fun!
Really, the blitz is a psychological weapon. It's a way
of saying to clients and competitors, "You know, we feel energized and sure
of ourselves, despite the economic obstacles some companies may perceive. We
can do it!" Not only
does this instill confidence in your clients and intimidate your competitors,
it tends to get your employees revved up and ready for action. It's psychological
medicine for your team. You see, business and football really do have a lot in
common - attitude is nine-tenths of the battle.
For more information, contact
us now.
Red Zone Marketing™
info@redzonemarketing.com
1509 N. Milwaukee Avenue
Libertyville, IL 60048
Phone (847) 367-4066 - Fax (847) 367-5226
Copyright, 2008 © Red Zone Marketing All World Rights Reserved
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