First Things First: The FOUR Dimensions of Your Business

After having wasted precious years, energy and resources towards Business Ideas and Activities that brought poor or no results at all, the “Epiphany” came, and it was Excruciatingly Simple : I had to use my Common Sense in a Counter-Intuitive manner, and see the Forest instead of the TREE.

Well, this may not sound as new to you, but if that is the case, you are among a very tiny and priviledged minority, because almost ALL of the Clients, especially the Corporate ones, I had the honor to work with, suffer from this kind of “Blindness” to their Business’s Four Dimensions….or should I call it “unawareness”?

Exactly like a person has a PHYSICAL, an EMOTIONAL, a MENTAL and a SPIRITUAL Dimension, there is a Direct Analogue to a Business with the flame of potential and success in it.

The Physical Dimension stands for your Human Resources, your PEOPLE, your Establishments and your Technical Infrastructure. These are the “visible parts” of your Business. I would give a special degree of Gravity to your PEOPLE and separate them from the rest “physical elements” as they truly are the CORE that either makes or breaks your Model’s Backbone.

The Mental Dimension stands for the Business Plan, its Strategic Development and Effective Execution. Many think that a bright IDEA is what it takes to catapult a Business to the realms of profitability, and that as long as they carry the IDEA in their mind, things will fall together and success will come. WRONG !  You can’t go anywhere without a MAP and a concrete PLAN with a very well defined sequence of Actions and Goals.  It is essential for your TEAM, it is essential for you so you don’t lose FOCUS and keep everyone on track, always looking for more efficient ways to get there…

The Social-Emotional Dimension stands for the Customer Service, and all kinds of Relationships and Interactivity with Clients, Subscribers or Members,  your Alliances, Synergies and JV Partnerships as well as your Public Relations Policy.  Maybe the most underrated element and the one with the greatest power of all.  We humans are by default Social Beings.  The biggest part of our brain is the PRIMITIVE BRAIN which has under control the 80% of our consciousness is triggered by EMOTIONS and dominated by a gland-like structure in the core of our cerebrum  called “AMYGDALA”.  How can we EVER ignore our Clients’ emotions?  Well, sadly, most of us DO IGNORE THEM. We keep ignoring that it is way cheaper to keep and please an already established client than to acquire a new one.  ZAPPOS.COM one of E-Commerce phenomena, owes its phenomenal success to its MAIN PRINCIPLE : Making Clients Happy.  They didn’t focus on excellent shoes quality, quantity or design, etc.  They instead put themselves in their clients’ shoes and  offered them the FANTASTIC EXPERIENCE of being treated in a UNIQUE MANNER.  The result…. BILLIONS in sales, and an army of fanatic clients attracting more and more at an exponential speed through word of mouth… Think of it.

Spiritual Dimension is about your Vision and your Mission.  The Core-Belief which is depicted to your BRAND and comes from your main elements that make you UNIQUE,  as well as a constant course of  incremental improvement.  Older School of Marketing calls it USP : Unique Selling Proposition.  I call it the ROOT-CONCEPT.  It’s not easy to be understood or evaluated at first glance.  It may not be evaluated at all, but it’s of essential importance.  To help you get my point, I’ll borrow a parable I once heard from a very successful personal motivator in the US.  He spoke about the bamboo plant.  He was so glad he had just purchased  a small pot with soil and the root of bamboo in it. The joy lasted a few months while he was watering the pot and made sure it was placed on a sunny spot with plenty of fresh air around.  Soon disappointment set in as he didn’t see the slightest green sign on the soil’s surface as if the plant was NON EXISTENT or non-responsive to his daily care.  His wife started teasing him about his choice.  His friends were joking with his stubborness to keep watering a pot of soil, but a little tiny voice inside him, held resistance and didn’t let him quit.  He didn’t throw the pot to the garbage and didn’t stop watering the plant and whispering words of encouragement to the sleeping baby root.  It was after FOUR YEARS of patience and persistence, he saw the first green leave unfolding its delicacy to the open air, just above the soil’s surface.  To his glorious delight, the bamboo had just started its crazy growth at 3000-5000% per year.  It took it 4 years to build strong roots and accumulate resources.  Nobody dared to question him again.  Our Spiritual Dimension rarely sees the light -just like bamboo’s roots- and it’s hidden in dark and assumingly dirty depths, but without it there would be NO FLOWERS and NO FRUITS.  Always take care of your Business’ ROOTS and constantly feed them with the right “nutrients”.

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Monetization:Looking for The Golden Eggs…

Simply put, by non monetizing properly our Website it’s like wasting our resources leaving tons of money on the table.  But things are not as simple as they seem to be.  Monetization is directly linked to our Online Business’s objectives and nature.  A different kind of monetization structure goes with a purely Online Business Model, and another one goes with the Online Projection of an Offline Business.

In this series of Articles, we’ll delve into the elements of a properly set Monetization Strategy for the Online Presence of an Offline Business.  We decided to give priority to this type of Websites, mainly because there are hundreds of thousands of Businesses who do  this wrong while structuring their online presence.  Online entrepreneurs and web-marketers on the other hand, are by far savvier in this regard, although we’ll shortly have that topic covered.

The first thing we should have in mind when setting up our Monetization Strategy is that our Website has practically unlimited potential of reaching and interacting with our target group.  Therefore, we shouldn’t think within a narrow channel of options.  Being openminded and watching successful models in totally different industries, might lead us to the breakthrough we need to boost our profitability by leaps and bounds.

So, what is needed for an effective Monetization Strategy?

There are FOUR PILLARS of Monetization we have to embody in our Strategy, and we definitely need to reverse engineer our Visitors’ action-sequence in order to identify the patterns that justify the monetization pillars.

  • CLIENT CENTERED MONETIZATION : It is all about our visitor’s psychology and going with the “wave” of their desires.  One of the most successful Client Centered Monetization we have seen is that of offering “Weight-Loss” related info-products to the core market of “Get-Your-Ex-Back” visitors.  Although our main market remains the “making-up” advice , we get into our prospect’s shoes and go a bit further following the “wave” of her/his psychology.  Being at a breakup-point with their relationship, what hurts more than anything else, is their self-esteem and although in most cases the true reasons of a breakup are linked to behavioral patterns,  the “being rejected-reflex” gets triggered almost always and self-denial or loss of self-esteem comes next.  So by offering the option of building that self-esteem again, on a silver plate, increases conversions and boosts profitability.  Another example of such kind of Monetization is Steve Job’s i-Phone but we’ll analyze it in detail on a future post.

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  • BUSINESS-MODEL CENTERED MONETIZATION : An overlooked option by many businesses which tend to be quite ancylotic  when it comes to broadening their vision spectrum.  Many Businesses go online thinking of attracting new clients for their products or services in a sterile and monolithic manner.  They can’t see the potential of building a COMMUNITY of Clients or Prospects and rip the rewards of offering value through a MEMBERSHIP Section within their Site.  They ignore the importance of building trust with their visitors, and authority for their brand, by taking advantage of the Info-Marketing option.  They think that there is no ground of educating their visitors or creating info-products for them. Big mistake.  Training Material in the form of E-Courses, Reports, White-Papers, VIDEOS etc, can add another stream of online income to our Business’s bottomline and as a BONUS we get our Brand solidified in our market.  Of course we can digg as deep as we want and expand as wide as we like on our quest for creating Info-Products of REAL VALUE to our visitors.
  • TRAFFIC-CENTERED MONETIZATION : Once we establish a steadily growing flow of Traffic to our Website, we definitely focus on improving our Conversion Rate, but there will always be a HUGE percentage of  traffic which will just NOT convert for a million reasons.  This doesn’t mean we can’t profit from them.  This Monetization Pillar stands for a range of actions we can take to turn those visits into money.  It is estimated that each visitor has an average value of $0.10.   So if we attract 1000 visitors to our website per month, we should at least make $100 from them.  We can monetize on our traffic by “selling” advertising space to Third Parties. There are many types of Advertising we can choose to include in our website. Contextual Advertising, such as GOOGLE Adsense Program and others is an option.  BANNER Advertising is another.  Promoting Affiliate Offers is a third.  And the list goes on…
  • JOINT-VENTURE  PARTNERSHIPS : Perhaps this is the most powerful way of Monetization because we monetize on our business partnerships which are based on relationships with people.  The leverage this model can give us is tremendus.  By Setting up our own Affiliate Program we can practically “recruit” partners on Auto-Pilot and slowly build an Army of Affiliates who will promote our OFFERS to their lists or through their sites etc.

Proper Monetization is about seeing the WHOLE PICTURE of our Online Business and setting our Standards really high.  Practically there is no limit to the Growth Rate that can be achieved by a Robust Monetization Strategy.

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