“I don’t believe in the old way of marketing any more.” When you publicly say your change – something shifts forever.

The GAME CHANGER: You might have used new methods, proved them, mixed them in with some of the old safety net practices of the past, yet when you actually put voice to a shift that has occurred for you, you can’t go back. It’s a scary place, momentarily, as you stick your neck out. However you’ve felt splintered for a while as the old and new rubbed up against each other and just didn’t quite work.

When you state your change categorically, what happens is you feel absolute relief because you have jumped off the cliff and moved forever. You can never go back. In flight, everything is in alignment.

The old way disappears and you venture out on the new…with or without any followers. However there are usually a few. They are the ones that helped you get over the line yourself.  They are the ones you inspire. They are the ones who want you to succeed. Why? Because they are sick and tired of the treadmill too. Ground hog day is tiring and it’s not working anymore. It’s just keeping everyone busy, safe and for some the reason to stick with it is simply to keep their job.

However the seekers also feel intuitively there must be another way. You, the game changer are showing them, YES! there is.

For the last four years I’ve built models, experimented, piloted, then implemented and shared the application of behaviour economics and neuroscience on marketing and business problems. I’ve become my biggest experiment and now for me it’s become mainstream. I can’t market or solve business problems the old way anymore. Why? Because I don’t believe this is the best starting point for any business – it costs too much of a clients money, takes too long and usually you can’t measure bottom line dollar impact as a direct result of what you are doing. Today we know better. These days we know so much more about human behaviour. Today I know of more than 100 GAME CHANGING ideas in business that I never dreamt of during my traditional marketing career.  What I want is to give you my clients the edge by adding something I know works. Here’s just a few of the changes:

TRADITIONAL MARKETING v GAME CHANGING MARKETING

1. First objective is attitudinal shift v  the only objective is – behaviour change. Remember all that research that shows intention to purchase, yet six months later sales are stagnant or declining? Ask yourself, will this activity or promotion actually change behaviour? IF the answer is “NO”, easy…you don’t do it. Now how many of you will dare to do that? See how many tactics in your marketing and business plan fall away. GAME CHANGER! It’s time to outsmart not outspend the competition. It’s time to change behaviour.

2. Focus groups v observational exploration – real time (I wouldn’t recommend a focus group ever again and I’ve used hundreds of them in my career – check what you have planned in your budget for this year. Might be time to think again and make your research $ actually work for you). GAME CHANGER!

3. Concept testing out of market v split testing in-market (Turns out humans are poor predictors of their own future behaviour. So why would you start with concept testing?I can’t remember how many campaigns I’ve done like this…never again.) GAME CHANGER!
4. Information heavy v understanding of choice overload (Remember all the brochures that talk and talk and talk about our products and how fabulous they are? Well turns out our brain goes into overload very quickly (yours might be going into overload right now!) So why would we still try and communicate with customers like this, when we know it doesn’t work? I see major companies still doing this. There’s thousands of dollars down the drain right there. The core question becomes are you producing the materials because it’s what you’ve always done and the sales rep needs something to show the customers (ie makes you feel better) OR do you truly understand how humans engage with information and create to communicate (actually works)? Most posters and brochures are a waste of your promotional spend because they do not engage the customer. We know what will. Do you? GAME CHANGER!

5. Single Specific v context specific (our brain is hard wired to compare). I’ve seen sales reps meet their monthly targets within two weeks by changing the way products and prices are presented. I’ve seen revenue increase 300% in a month (at no cost, with no extra promotional materials or campaigns) for the same reason – now that’s a GAME CHANGER!

6. One product one price v product and price decoys – these are your secret agents if you understand how to use them. I’ve seen a 40% increase in revenue in one month for a client, at no cost, simply by stating a price decoy – now that’s a GAME CHANGER!

There are so many more.

I can’t justify the spend clients and communications and advertising agencies are wasting in traditional marketing anymore. For me this is lazy marketing. Behavioural economics and neuroscience change the game. Are you on board?

Understanding the brain is your business. Today, be a GAME CHANGER, or do yourself a favour and hire one.

To find out more, call Sonia.
Contact: sonia@soniafriedrich.com or 0412 359 424 or go to: soniafriedrich.com

Sonia Friedrich is a Mentor, Strategic Consultant, Speaker and Author. Her purpose is to empower people in business and in life. She adds insight from behavioural economics (BE) and neuroscience to an extensive marketing and advertising career. 

Sonia has worked with Fortune 500 companies building brands up to $250 million in Australia and New Zealand. She was the General Manager of Grey Healthcare Advertising in Sydney.Sonia lives in Byron Bay. She works with Company Directors, Executive teams and is available for business challenges, training, conference or speaking events. Organise your next conference with Sonia in Byron Bay or she will travel upon arrangement.

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There seems to be a weird relationship the majority of us have around money. So often we lose our power when the subject comes up. We find it a difficult to discuss, let alone ask for money for the services we offer. We whisper our fees and terms, start to sweat, or even discount the fee right on the spot. Many of us simply avoid the topic of money all together, and divert the conversation to something completely different. But of course none of this serves us at all. Money, or abundance, is such a central part of our life and actually helps life flow. We need to learn basic skills for these discussions and to love and embrace the topic rather than fear it.

When you run your own business, being able to talk about money, without fear, is a critical part of the daily conversations – and it needs to be. After all it creates the survival of your business, helps pay the bills and ideally, is what allows you to make a profit and live the life you dream. Understanding human behaviour toward money (including your own) can help you understand how customers behave around money too.

Did you know that you (and all humans) fear loss more than you value gain? You do this at a ratio of 2:1. This means that you prefer to stay in a situation that you are in, even if it isn’t good for you. What is the implication of this in business? It means even if you know a product or service is good for you, your default position is the status quo. This default position remains the same until you emotionally engage with the product or service and this tips you over to disrupt your status quo. Your customers are exactly the same. Customers will fear losing not only the position they are in, they will also fear losing the money they are about to part with for your product or service. Even when you know something is good for your customer this fear of loss is one of the reasons they simply cannot make the decision to purchase it and walk away.

You physically feel pain when you pay. Seriously! The insula (or insular cortex) in the brain fires when you are about to part with cash. This is one area of the brain associated with anxiety and pain. No wonder it hurts to pay. You literally have the pain of paying.

Have you ever seen Apple discount their products? No. Never. Why? They know that discounts permanently damage the perceived value of the brand. So when you’re thinking about having a discount to bring in some short-term revenue, be aware that the relative value now associated with your brand is reduced forever.

There are many factors involved in the interaction and association we have with money. Understanding some of these not only helps put customer decision-making and judgement in perspective. You can learn to use some of these aspects to the financial advantage of your business.

Instead of fearing money it is time to embrace it. Make money your friend. Love the numbers and start to see and feel a shift in your relationship and power with money.

Sonia Friedrich is a Mentor and Strategic Consultant to Multimillionaires and Business Owners. She’s launched a new DVD that you can download or stream or purchase as a hardcopy – How to Set Fees and Terms – for Consultants and Service Providers. If you would like to find out more visit www.soniafriedrich.com.

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“I’ve been involved in numerous successful technology start-ups,” says Dan Swan, who has a PhD in Innovation in the Creative Industries. “I’ve worked in the US, UK and in Australia, and my experience in innovation spans the full project lifecycle which is where I see how I can help people wanting to start a business.”

For Sonia Friedrich, the impetus to work with Swan came from her desire to help entrepreneurs and business owners understand the human behaviour that lies behind business decisions. “I really want people to gain this information before they talk to marketers, advertisers, PR companies and the media because it’s so vital for them know how to present and communicate their ideas to customers and to investors.”

Working specifically on how customers behave towards price, Friedrich, who has a Bachelor of Business in marketing, and has worked for numerous Fortune 500 companies, says that the secret is in understanding what she calls, “behaviour economics. There’s been a lot of research done into the brain and how we (and therefore customers) make judgments and decisions. We understand the biases that are used to support personal beliefs and choices – but what I’ve learned is that we can directly change behaviours.”

Swan, who began StartInno to encourage local businesses through their start-up phase, is a firm believer in the concepts of networking, and co-working. “Byron Bay is a melting pot for new business,” he says. “Outside of the main cities we have the highest density of creative industries anywhere in regional Australia – to me the idea of business start-ups being able to access a community that includes seasoned entrepreneurs as well as fledgling business ideas is a great way to share what’s worked – and why it’s worked. My journey began by just starting, and so what drives me is to help others ‘just start’ as well.”

One of the main topics for the night will be to help participants understand the emotional engagement customers have with price and how to use it to their advantage. Topics will include:

• The path of least effort
• The pain of paying
• Decoys
• The power of free
• Why discounts permanently damage
• and more

Sonia Friedrich, business mentor and consultant

Dan Swan, StartInno founder.

For Friedrich, teaching business owners how damaging it can be to discount their price is something about which she is passionate.  “When I mentor business people on this it’s incredible to see the direct result that occurs from the shift in thinking that prices have to be discounted to never discounting – it’s a very powerful thing to learn,” she says. Until recently Friedrich was mentoring everywhere but Byron Bay, but – a bit like Swan – she too, as a resident of almost 12 years standing – has seen so many creative businesses start up here, that now she has applied her mentoring to herself. “I realised that I’d really rather not get on a plane to Sydney for work if I didn’t need to,” she says. “I’ve also found it’s very rewarding working with business owners in Byron Bay because small business owners are risk-takers. Unlike many multi-national companies where fear of change can set in, or people are worried about introducing something new because they fear they might lose their job, I find principals of smaller companies welcome the change – directors of small to medium size firms can see the advantage of these ideas and actually implement them in a few days or a week.”

To book tickets go to:

https://www.eventbrite.com.au/e/attracting-customers-with-sonia-friedrich-tickets-16854039887?ref=ebtnebtckt

https://www.startinno.com/events/attracting-customers

For more information on Sonia Friedrich go to: www.soniafriedrich.com  For more information on StartInno go to www.startinno.com

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