Episode 24: Doing this wrong could kill your business! with Terence Toh

Narrator 0:04
Welcome to the Unfair Advantage Project. Unique perspectives, practical insights and unexpected discoveries directly focused on giving you the unfair advantage. Introducing your hosts, Nadia Hughes and Terence Toh.

Terence Toh 0:25
Hey Team, Terence here. Just come from a little bit of an afternoon walk. Been thinking a little bit lately, can’t get my mind off actually. There’s one thing that we must be doing, every time, we have a sales conversation, or every time we do a marketing, or in fact, almost anything we do in our business, is one thing. And sometimes, I think we forget it and it’s just give everyone a reminder. So, really quick story. I was at a business meeting the other day, learning about some new technologies, which are coming out for marketing, really cool devices, what you can do is you can basically get these devices, you can get a device, put it in your pocket, put it anywhere you want to behind a sign, whatever the case is, and it will transmit messages to nearby Android devices apparently doesn’t work with iPhone right now. But, you know, being able to transmit these messages, and the guy that was telling us about it, was really giving us all these ideas about how you could use them. But he’s just basically saying, well, you know, put in your pocket, carry it around with you and you know, basically just target unsuspecting people, and people who may or may not want to know about your product, and then you send them a message and you can kind of send them to a landing page or something like that from that message. Now, that’s something I call nuisance marketing. Nobody wants nuisance marketing, I can think of some really great uses for that product. Maybe if you’ve already got somebody already got a market, a group of people say who already looking at your product, or who are already in a particular venue, and you could give them a great offer that they maybe didn’t know about before. That might be pretty cool. That the whole nuisance marketing thing that doesnt sit well with me and I was trying to figure out why and here’s what I discovered. The one thing that we need to always do no matter what the activity is pretty much in our business, it would be sales, marketing, whatever, we can kind of ask ourselves one question, and that is, does this build trust? And the problem that I had with the way that we were being told we could use this technology is there’s no way that builds trust. In fact, it breaks trust. So anything that we do, that breaks trust, is really not helpful for our business. In fact, it’s not really helpful for anybody because it breaks trust, it’s likely that we’re not solving a problem for somebody. And like I said, you know, use its marketing is just something it’s just completely breaking trust at sending people messages that they probably didn’t want, kind of made me glad that I’m still running an iPhone. I don’t have anything against any other phone out there. But I’m kind of happy to not be getting those messages, to be honest. So the message today, whenever you’re selling, marketing your business, in fact, pretty much anything that you’re doing in your business, any activity, you can ask yourself that one question, am I building trust? By the way, I love to hear your comments about either nuisance marketing and what you think about it and where you’ve seen it, or how the activities that build trust in your business and how you’ve seen it used in a good way and how you’ve seen people that don’t build trust. Terence out hope that was helpful. Thanks.

Narrator 3:49
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