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Marketing Psychology | Phil Stalnaker, Pro/Vision Coaching’s Business Development VP Speaks to Coldwell Banker Bain Agents

Originally posted on March 27, 2012 at Pro/Vision Coaching.

On Thursday, March 22, I gave a training presentation on marketing to a group of CB Bain Agents (both live and watching online). In it, I addressed such marketing topics as Target Audience, Marketing Message, Marketing Strategies, and Evaluation of Methods. I also discussed the psychology behind marketing and spoke about things like the concept of demand resistance (why don’t people follow through?), the reasons people buy (pain vs. pleasure), and how the human psyche handles purchases.

The entire presentation can be seen on the link. Enjoy!

http://bit.ly/GLgtwt

Philip Stalnaker Interviewed about Marketing on Chat With Women Network

*Originally posted on October 13, 2011 at Pro/Vision Coaching.

In case you were not able to listen to the radio show live, it is available online at the following link:

http://www.chatwithwomen.com/media.php?do=details&mid=364

Thanks again to Jen Westby and Julie Wells for having me on the show – I hope that I was able to provide some insight and support to all the listeners out there!

Whether it’s Baseball or Business, it’s All About the Numbers

Take me out to the ballgame; take me out to the crowd.

Buy me some peanuts and cracker jacks; I don’t care if I ever get back.

What a beautiful stanza to a gorgeous song that represents all that is right with this world. Baseball. The greatest game ever played, especially if you are in business.

I can already see the bevy of comments that will hit me on this post about my obsession, and specifically why I chose to write an article like this at this time, so at least I’m prepared. Yes, I just attended an entire series at Safeco Field in Seattle, though for the sake of my current city popularity, I will decline to admit my favorite team. The first comment to guess correctly wins a prize that will be revealed at the end of this post.

While attending these baseball games, one cannot avoid being smacked in the face at a seemingly constant stream of statistics. “In June 2010, Felix Hernandez won the American League Pitcher of the Month Award for his flawless portrayal of Felix the Cat in the local theater’s rendition of Rent 3D: Alley Cat. This was his 5th AL PoM Award in 6 possible months.” Obviously that means he had a good year. You know he did well because NUMBERS DON’T LIE, at least not like your Uncle Herbert.

So what? Who cares that I can make up odd baseball and pop culture connections? Here’s why: it’s all about the numbers. If you need to know how many baseballs you need to sell in order to keep your store open, you must rely on the numbers. Take a look at this – did you know that the average operating budget for a Major League team was $84 million dollars in 2009? The Seattle Mariners’ budget was at $98 million. Their average ticket price was $30. So how many seats did they need to sell to cover their expenses? Knowing they play 82 home games, the equation becomes simple:

(# of tickets sold x $30) x 82 games = ticket income If ticket income had to match operating expenses, the equation would look like this: 98,000,000 / 82 = 1,195,122 (income needed per game) / 30 = 39,837 (seats that must be filled)

Safeco Field has a seating capacity of 47,878 for baseball games. That means Safeco would have to be at least 83% full each home game to make budget. In 2009 (according to ESPN), Seattle averaged 27,116 tickets sold per game. Going back to the original equation, that means Seattle pulled in $66,705,360 in ticket income in 2009. Put that into the next equation: income – expenses = profit. $66,705,360 – $98,000,000 = $-31,294,640

OUCH! It’s a good thing they have other ways of generating income. Do you? Do you know what your income needs are and where they are coming from? The moral of the story is this: numbers are cold, hard, and factual. They will tell you the real story of your business in a way that would make J.K. Rowling look like your Uncle Herbert. Use them, do not be afraid of them, hate them, but above all trust them. The best businesses know it’s all about the numbers.

And, by the way, the prize is a cup of coffee and a pleasant conversation.

Conquering the Unconquerable | Hunting Grizzlies in the Marketplace

Originally posted at Pro/Vision Coaching.

I have never personally met a grizzly bear, and I doubt it would work out well for me if I did. They tend to have big teeth and sharp claws, not to mention being the size of a mid-size sedan. Yet, there is an awe that surrounds even the discussion of their existence. Raw power; rarity; above-average intelligence – these are all characteristics of this seemingly un-tame-able creature with a penchant for salmon. Other than making a series of odd, pop-culture jokes, where is the point in writing about Winnie the Pooh’s nastier cousin? Simple: everyone is afraid of them, yet everyone wants to catch at least one.

Many Native American tribes viewed the grizzly as a god; Timothy Treadwell looked on them as brothers (ultimately a Cain and Able type brotherhood). Despite all the mystique and wonder surrounding the bear and our North American heritage, one thing is for sure: they were at one point the final hurdle in man’s climb atop the food chain. No matter how large, dangerous, fast, or angry a grizzly could be, man still saw them as a prize to be subdued and conquered. Historically, hunted grizzlies were used for many reasons such as food, clothing, jewelry and even dance rituals. Today hunting a grizzly is really only for a show of manhood (similar to the guy who tries to show off in his outlandishly expensive sports car). Overcompensate much?

We can’t stop though. There is just something captivating about conquering the unconquerable. There are very few Grizzly Adams left in the world—most of them have transformed into Gordon Gekko. Business has become the new frontier, and the frontiersmen of this new world are entrepreneurs. With each new business that opens its doors, it paves a way for countless others to live up to their ancestors and hunt the grizzly. What, though, is the grizzly in today’s world?

Since I’ve never seen anyone in a business suit fully armed and tracking a bear in the forest, I’m proposing that the perfect customer for your business is the grizzly bear. The grizzly is that one customer, who, if you could replicate them, would keep you fat and happy until the end of time replicating and upselling themselves automatically. The problem is, though, that they are not easy to find or to conquer. It may take a lot of effort, or a lot of marketing and sales strength to get the job done. You may have to go the extra mile and “walk a mile in their shoes” while giving them your cloak as well.

Have you conquered that frontier? Can you picture that perfect customer in your head, or do you even know what they look like? While it is technically possible to wander around in a forest and accidentally run into a grizzly, chances are you stand little chance of success in your hunt unless you do a little background work. For example, don’t go looking for grizzlies in Ocala National Forest (if you don’t know where that is, that’s why you need to do some research). And how many grizzlies do you want/need? Hunting the grizzly can be a dangerous, but rewarding (and very profitable) experience.

Pro/Vision Coaching VP Phil Stalnaker Relocating to Seattle for Academy Launch

Originally posted at Pro/Vision Coaching.

OMAHA, NE, 6/1/2011 – Pro/Vision Coaching is making a major push forward in its company growth by expanding its services in the Seattle Metro area. Starting June 1, Phil Stalnaker will not only lead the marketing efforts, but utilize his coaching certification to facilitate the launch of the Pro/Vision Academy.

In addition to our regular one-on-one business coaching programs, Pro/Vision Coaching is launching a business academy in the Seattle Metro, based on the needs of the business owners in that area. The Academy offers programs ranging from support groups and book clubs, business courses, workshops, and even mastermind groups for like-minded owners and their key employees.  “The Pro/Vision Academy is an unprecedented change to the business coaching industry, and with its launch in Seattle, we need to make sure it is properly staffed and equipped.” commented Doug Christy, Pro/Vision Coaching’s co-owner. Working with Phil on the Academy is Paul Hajek, a successful life-long entrepreneur and business coach since 2005.

“This is the adventurous part of my corporate responsibility, helping institute the Pro/Vision Coaching model to the geographic locations within the Christy’s vision.” said Phil Stalnaker. Honing in on a way to develop business owners into successful entrepreneurs even before they start their first business is a key stabilizer to a shaky market economy. With the Academy, Pro/Vision will now be able to work with people in all stages of business ownership, leading to better returns and ultimately better business for all.

Why Knowing Your Target Audience Truly is the Bull’s-Eye

Originally posted at Pro/Vision Coaching.

I got into the sport of archery in high school. Led by a friend of mine, I found the sport fascinating, and I followed with stars in my eyes all the way to the store. The place I purchased it at had a full size shooting range in the back and tools to help their customers pick the right bow and accessories while trying them out. In the process of setting myself up with the perfect bow, I got into the challenge of archery, and learned that I actually had a bit of talent.

It has been a while since I regularly made it to the target range, but my love for the sport has never waned. The photo below was taken after a few recent practice rounds, and shows my grouping, and though overall it is nothing to be excited about, it was nice to see a few arrows right on top of each other.

The reason I tell you my background with archery is because of how much it has to do with successful marketing. Here are a few key lessons I have learned about marketing from my time in archery.

1. Practice is Mandatory | During my senior year of high school, all of those arrows would have been touching. The more I practice at hitting the center of the target, the more often I would succeed, and that success would come in groupings (consistently hitting the bulls-eye with each arrow). If you don’t keep at it, the ability you once had will fade away over time.

2. You Must Aim at the Center | If you only try to hit the target, your arrows will be scattered all over the target, with many missing it completely. The only way to consistently hit the bulls-eye is to “aim small, miss small” (The Patriot movie). In other words, the tighter your focus, the better your hit.

3. Know the Target and its Environment | In order for complete success, you need to know everything about your target. How big is it? Are you outside? What’s the wind going to do? How far away are you standing? Is there a vertical change between you and the target? The more you know about your target and its environment, the easier it will be to hit the center. Knowing your target also means that you know how to speak to that target, or in other words, craft that perfect message.

In the language of the business world, I am referring to your target audience. So that you can succeed with your marketing plan, you will have your best success when you treat your target audience like the bulls-eye. Who is your perfect target? What is that person’s environment? And so on…

You will find that if you follow these three rules in marketing, you will see significant growth in the number of prospects knocking down your door. You will find an engaged audience and have the right tools with which to get them interested in your product or service. Happy hunting!

Power Talk Live Profits from their Passion with Pro/Vision Coaching, Inc’s Philip Stalnaker

Originally posted at Pro/Vision Coaching.

I was once told that it is better to be poor and happy than rich and depressed. It makes perfect sense, but I have always wondered why someone couldn’t be rich and happy? And if it is possible, what is the key?

http://www.youtube.com/watch?feature=player_embedded&v=PO9z8b3mrMo

Karen Floyd came to us a business owner who was not enjoying her trade. Unfortunately, not only was she not happy in her business, but she also wasn’t getting the revenue she needed. In the process of developing a Guerrilla Marketing program with her, we discovered that her pre-supposed target audience was not who she wanted to be around, let alone sell to. The need to sell her business amongst people who she did not feel comfortable with was causing angst and providing negative results.

As a business coach, there are few things that make me feel better then when the light comes on for a client. Karen realized through the coaching process that the target she was reaching for—even if they bought from her—was not going to get her to her goals. In order to sell to her original target, she would have only been able to sell one of her many services – the one she happened to enjoy the least.

Though it was a significant stretch for her, she decided to reformulate her services, change her target, and pick the people she wanted to sell to. Before then it was like playing a symphony, but missing the middle notes. Now she was playing the right notes, and it all came together very quickly after that.

She is now deeply rooted in her passions and loving her role as the business owner. And her joy and passions are able to bring her profit now that she knows exactly who her target is and that they want the full breadth of her services.

To learn more about Karen and her services, visit her at Power Talk Live.

Phil Stalnaker, VP of Business Development for Pro/Vision Coaching, Inc. Earns Certification as a Guerrilla Marketing Coach

Posted on Pro/Vision Coaching by Doug Christy.

I am proud to announce that our VP | Business Development, Phil Stalnaker, has received his certification as a Guerrilla Marketing Coach.  Certification is a lengthy 4 month process which culminates in successfully completing a written marketing campaign for our firm.  Phil chose Pro/Vision Coaching’s entry into the Greater Seattle Area market for his campaign, for which we are currently experiencing the fruits of his labor. Phil’s 4 month journey in certification tracked closely from market due diligence to grand opening of our Bellevue, Washington office.

Pro/Vision Coaching realizes the importance that a focused, low-cost marketing campaign means to our small business clients.  Most of our clients, very shortly after engagement, start their coaching journey with marketing.  The majority of our clients have relied on “word of mouth marketing” for their growth.  In today’s economic and competitive environment, they realize “word of mouth” simply isn’t enough.  Phil is now able to coach a small business owner from start to finish through a guerrilla marketing campaign.  He also lends assistance to our head business coaches with his special expertise in social media marketing, systematization and branding.

Congrats Phil on a job well done.

Business Networking | A Huge Waste of Time, or Humanity’s Greatest Hero?

Originally posted at Pro/Vision Coaching.

A lot of people blog for their businesses simply to get better SEO (search engine optimization) for their website, thus leading to a higher search engine ranking and more clicks to their site. This is not a bad practice, whether you are in Omaha, Nebraska; Seattle, Washington; or anywhere else in the world. It is obvious (and truthfully, good practice) to make sure your business is known publicly and easily assessable. And as a business coaching firm, we would advise you to do just that. The world of the internet is a great way to make that happen (and also to sneak in wonderful keywords in THIS blog entry), but not the only way to get known and make your business successful.

Sometimes you just have to stick your face out there and be seen. Or do you? History has been faithful in teaching us that if you stick your face in front of a fan it might get cut off, or if you step out on a road you may get run over. Is growing your business really worth that risk? In the online game of Second Life—one of the fastest crazes to die in the last 10 years—you create a personal avatar (that can be you, or anyone you want to be) and go through “life” in the digital world. You are even able to buy products for your Second Life home, such as a TV from the Best Buy store in the game (which costs REAL money, by the way), or you could commit a crime inside the game and do hard time.

–Funny YouTube Clip on SecondLife–

If you are not like the 2 current members of the worldwide Second Life community, you prefer to live your life in the real world – and take note – that’s a good thing! But even so, many people are still uncomfortable with the idea of face-to-face business networking, and some of you may not even know what it is. Here are some questions I am often asked about the subject:

Q: Is it true that if you try to sell at a networking event, you will be captured and tossed into a dark cave beneath the Chamber of Commerce with a lonely, starved tiger? A: No. Ever since the Michael Vick dogfighting scandal, all the underground Chamber tigers have been released into the wild. Last I heard all but three tigers were accounted for at local area zoos.

Q: Ok, so they may not throw you to your death, but is it a bad idea to try and sell at a networking event? A: Yes. Even though your life should NEVER be at risk during networking, the goal is for you to build relationships with other networkers, thus building a community. People who come in and try to sell their wares right off the bat often miss out opportunities for future business growth.

Q: If I am allergic to shellfish and go to a networking event that serves it, should I eat it anyway and hope for the best? A: Do you always carry an EpiPen with you? Q: No. A: No. Allow me to say again that your life should NEVER be at risk during an event.

Q: Really? Last week I walked past a booth at a trade and they were literally shoving fried shrimp down my throat. Though I was able to run away, I lost my bag of goodies from the show. I think they were a rogue group of ___________________. (Mad Libs: Name an Industry of Your Choice) A: Seriously? That’s pretty crazy.

After all is said and done, if you go to a networking event with a sincere desire to meet people, learn about their businesses (first!) and then, when given the opportunity, share about how yours can be a benefit to people, you will do well. You may not end up being the hero networker, but it certainly won’t be a waste of time. Just keep an eye out for wandering tigers if you live in ___________________, __________________, or ____________________ (Mad Libs: Names of Cities).