How to Successfully Meet the Three Biggest Marketing Challenges

I like to think I’m a pretty good marketer of my professional services.After all, I’ve been at it for 34 years, read hundreds of marketing books, thousands of articles and studied with the very best marketing gurus.But marketing is still challenging for me and the majority of independent professionals. If it weren’t, we’d all have more clients than we could serve, they’d be paying us high fees, and we’d never having to worry where our next clients would come from.And we wouldn’t need the thousands of marketing coaches and consultants like me offering services of all kinds to help you attract more clients.So, why is marketing so challenging?There are many marketing challenges, however, if you look at marketing closely, there are actually only three big challenges that give us the most trouble.Learn how to meet those challenges and your marketing will become more successful, easier, and fun.Here are those three marketing challenges:Challenge #1. Clearly communicating the value of what you are offering. Someone will not buy your services if they don’t see the real value to them. Your message can’t be vague or confusing; it must be clear and beneficial.One way to zero in on the value of your service is to define the top three attributes your service possesses. One or two is not enough; five or six tends to dilute your message.So, for instance, a sales training company might want to emphasize that their training is guaranteed to increase sales, improve sales confidence quickly, and can be delivered virtually in 45-minute online modules.That’s easy to understand and obviously beneficial. That kind of clear and valuable message is likely to generate attention, interest, and response.Seems simple, but not so easy to do. In my experience with thousands of independent professionals, their messages tend to be vague, not specific, and weak in terms of value.And if that value is not clear, prospects won’t respond.Taking the time to work on your message, fine-tune it, and test it until it gets a favorable response is one of the most important things you can possibly do in your business.To succeed at this task you must get inside the heads of your ideal clients and ask what they want the most, what problems they struggle with frequently, what isn’t working for them, and what could make their jobs easier and more productive.Jaynie L. Smith of Smart Advantage consulting says that 90% of companies don’t really know what their clients value the most. No wonder marketing messages are so bad.You can improve your marketing messages by reading and research (ask Google), sending questionnaires to your clients (Survey Monkey), or conducting a virtual focus group (via Zoom Video). Ultimately, you want to find out their biggest challenges and what they value the most.When you have that marketing intelligence, it will be a lot easier to come up with powerful marketing messages.This is challenging because it takes time and deep thinking. But if you realize its importance, you’ll invest your energies to come up with a powerful message that makes your service attractive, interesting, and compelling to your ideal clients.Challenge # 2. Making your business visible with repeated impressions of your message over time. It can take several impressions before someone responds to your marketing message.Just today, I noticed a message that one of my first level connections had sent to me on LinkedIn. When I checked the message, I noticed that he had sent me a total of 13 messages over a one-year period.The messages were actually very good. They had the right tone and great calls-to-action. It’s just that I don’t pay a lot of attention to my LinkedIn messages and had completely missed the first 12!He understood the value of repeat impressions over time and had developed a system within LinkedIn that had enabled him to send a unique, personalized message every month for a year. Pretty impressive.If he had only sent one or two messages, the chances are good that I wouldn’t have seen them.Again, my experience with the majority of self-employed professionals is that their marketing visibility is, at best, random and inconsistent, and at worst, non-existent.As you may know, I’ve sent out an email newsletter to my list pretty much every week for 21 years. That’s visibility. It’s really quite simple, but not so easy.If you want to be effective at your marketing, you must identify marketing strategies that enable you to get your message in front of your prospective clients consistently.And again, this is challenging. What is the best marketing activity for you, your personality and talents? How can you fit something into your schedule and do it consistently, not for a few weeks but for years?The question is not just what marketing strategies to use. Networking, speaking, blogging, email newsletters, webinars, social media, and direct outreach can all work.The more important question is what strategies will work the best for you and how exactly you can implement those strategies without spinning your wheels.You’re looking for proven, step-by-step instructions so you can evaluate if a strategy is right for you and something you can fit into your schedule on a regular basis. Remember, sporadic implementation is a waste of time.Implementing visibility strategies takes commitment and persistence. Is growing and succeeding in your business important enough for you to make that kind of effort? If it is, you’ll succeed at finding the best strategy for you.The final challenge may be the most important of all to overcome.Challenge #3. Maintaining the right marketing attitude and mindset over time, despite setbacks. If you can’t maintain The 3 R’s of success – responsibility, resourcefulness, and resilience, your marketing will never achieve the results you want.These 3Rs are absolutely essential. Responsibility is the stance that the buck stops with you. You are the only one who will find a way to attract clients and you won’t give up until you find that way. You won’t make excuses or blame circumstances, but instead will be accountable for making results happen.Resourcefulness is the skill to utilize your talents, and abilities to quickly find smart ways to overcome difficulties and find solutions. And to be resourceful, you can’t be full of doubts and fears of failure or rejection. A responsible person commits to finding a way; a resourceful person tries every way possible until they discover the best way.Resilience may be the most powerful trait of all. It’s what enables you to bounce back from adversity, setbacks, and even failures. And if you’re working to attract great clients, you’ll inevitably experience all of those many times. People who are not resilient don’t even try, let alone succeed.All of these essential qualities are in short supply. But if you work to grow those qualities persistently, over time, they will help you succeed with the first two challenging things in marketing – messaging and visibility.Despite these three marketing challenges – messaging, visibility, and mindset – there is good news.Improving your skills or abilities – even a little – in any of these three challenge areas will increase your marketing effectiveness.There is no perfect way of tackling all three challenges and you can’t do it in big leaps that get you there overnight. But you can work on all three slowly, with persistence, making small gains every week.When you improve your messages, you’ll start to see a better response in communicating to your prospects. Marketing then becomes like a game that starts with the question, “How can I communicate my value more clearly and powerfully?”When you increase your visibility, you’ll also notice a better response because to some degree, marketing is a numbers game. Your question might be, “How can I get my message in front of more of the right people this month?”And when you enhance your responsibility, resourcefulness, and resilience, you’ll find that playing the game becomes easier and more fun. The 3Rs are the fuel that enables you to persist with the first two challenges.Where do you start?You start by admitting where you are now and then committing to a purpose (your WHY for being in business in the first place), a goal (a specific thing you want to achieve), and to taking action (the actual steps you’ll implement to get there).Yes, marketing is challenging. But meeting those challenges is absolutely worth it.Cheers, Robert

S&P 500 Biotech Giant Vertex Leads 5 Stocks Showing Strength

Your stocks to watch for the week ahead are Cheniere Energy (LNG), S&P 500 biotech giant Vertex Pharmaceuticals (VRTX), Cardinal Health (CAH), Steel Dynamics (STLD) and Genuine Parts (GPC).

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While the market remains in correction, with analysts and investors wary of an economic downturn, these five stocks are worth adding to watchlists. S&P 500 medical giants Vertex and Cardinal Health have been holding up, as health-care related plays tend to do well in down markets.

Steel Dynamics and Genuine Parts are both coming off strong earnings as both the steel and auto parts industries report optimistic outlooks. Meanwhile, Cheniere Energy saw sales boom in the second quarter as demand in Europe for natural gas continues to grow.

Major indexes have been making rally attempts with the Dow Jones and S&P 500 testing weekly support on Friday. With market uncertainty, investors should be ready for follow-through day breakouts and keep an eye on these stocks.

Cheniere Energy, Cardinal Health and VRTX stock are all on IBD Leaderboard.

Cheniere Energy Stock
LNG shares rose 1.1% to 175.79 during Friday’s market trading. On the week, the stock advanced 3.1%, not from highs, bouncing from its 21-day and 10-week lines earlier in the week.

Cheniere Energy has been consolidating since mid-September, but needs another week to forge a proper base, with a potential 182.72 buy point formed on Aug. 10.

Houston-based Cheniere Energy was IBD Stock Of The Day on Thursday, as the largest U.S. producer of liquefied natural gas eyes strong demand in Europe.

Even though natural gas prices are plunging in the U.S. and Europe, investors still see strong LNG demand for Cheniere and others.

The U.K. government confirmed last week that it is in talks for an LNG purchase agreement with a number of companies, including Cheniere.

In the first half of 2021, less than 40% of Cheniere’s cargoes of LNG landed in Europe. That jumped to more than 70% through this year’s second quarter, even as the company ramped up new export capacity. The urgency of Europe’s natural gas shortage only intensified last month. That is when an explosion disabled the Nord Stream 1 pipeline from Russia that had once supplied 40% of the European Union’s natural gas.

In Q2, sales increased 165% to $8 billion and LNG earned $2.90 per share, up from a net loss of $1.30 per share in Q2 2021. The company will report Q3 earnings Nov. 3, with investors seeing booming profits for the next few quarters.

Cheniere Energy has a Composite Rating of 84. It has a 98 Relative Strength Rating, an exclusive IBD Stock Checkup gauge for share price movement with a 1 to 99 score. The rating shows how a stock’s performance over the last 52 weeks holds up against all the other stocks in IBD’s database. The EPS rating is 41.

Vertex Stock
VRTX stock jumped 3.4% to 300 on Friday, rebounding from a test of its 50-day moving average. Shares climbed 2.2% for the week. Vertex stock has formed a tight flat base with an official buy point of 306.05, according to MarketSmith analysis.

The stock has remained consistent over recent weeks, while the relative strength line has trended higher. The RS line tracks a stock’s performance vs. the S&P 500 index.

Vertex Q3 earnings are on due Oct. 27. Analysts see EPS edging up 1% to $3.61 per share with sales increasing 16% to $2.2 billion, according to FactSet.

The Boston-based global biotech company dominates the cystic fibrosis treatment market. Vertex also has other products in late-stage clinical development that target sickle cell disease, Type 1 diabetes and certain genetically caused kidney diseases. That includes a gene-editing partnership with Crispr Therapeutics (CRSP).

In early August, Vertex reported better-than-expected second-quarter results and raised full-year sales targets.

S&P 500 stock Vertex ranks second in the Medical-Biomed/Biotech industry group. VRTX has a 99 Composite Rating. Its Relative Strength Rating is 94 and its EPS Rating is 99.

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Cardinal Health Stock
CAH stock advanced 3.2% to 73.03 Friday, clearing a 71.22 buy point from a shallow cup-with-handle base and hitting a record high. But volume was light on the breakout. CAH stock leapt 7.3% for the week.

Cardinal Health stock’s relative strength line has also been trending up for months.

The cup-with-handle base is part of a base-on-base pattern, forming just above a cup base cleared on Aug. 11.

Cardinal Health, based in Dublin, Ohio, offers a wide assortment of health care services and medical supplies to hospitals, labs, pharmacies and long-term care facilities. The company reports that it serves around 90% of hospitals and 60,000 pharmacies in the U.S.

S&P 500 stock Cardinal Health will report Q1 2023 earnings on Nov. 4. Analysts forecast earnings falling 26% to 96 cents per share. Sales are expected to increase 10% to $48.3 billion, according to FactSet.

Cardinal Health stock ranks first in the Medical-Wholesale Drug/Supplies industry group, ahead of McKesson (MCK), which is also showing positive action. CAH stock has a 94 Composite Rating out of 99. It has a 97 Relative Strength Rating and an EPS rating of 73.

Steel Dynamics Stock
STLD shares shot up 8.5% to 92.92 on Friday and soared 19% on the week, coming off a Steel Dynamics earnings beat Wednesday night.

Shares blasted above an 88.72 consolidation buy point Friday after clearing a trendline Thursday. STLD stock is 17% above its 50-day line, definitely extended from that key average.

Steel Dynamics’ latest consolidation could be seen as part of a larger base going back six months.

Steel Dynamics topped Q3 earnings views with EPS rising 10% to $5.46 while revenue grew 11% to $5.65 billion. The steel producer’s outlook is optimistic despite weaker flat rolled steel pricing. STLD reports its order activity and backlogs remain solid.

The Fort Wayne, Indiana-based company is among the largest producers of carbon steel products in the U.S. It engages in metal recycling operations along with steel fabrication and produces myriad steel products.

How Millett Grew Steel Dynamics From A Three Employee Business

STLD stock ranks first in the Steel-Producers industry group. STLD stock has a 96 Composite Rating out of 99. It has a 90 Relative Strength Rating, an exclusive IBD Stock Checkup gauge for share-price movement that tops at 99. The rating shows how a stock’s performance over the last 52 weeks holds up against all the other stocks in IBD’s database. The EPS rating is 98.

Genuine Parts Stock
GPC stock gained 2.8% to 162.35 Friday after the company topped earnings views with its Q3 results on Thursday. For the week GPC advanced 5.1% as the stock held its 50-day line and is in a flat base.

GPC has an official 165.09 flat-base buy point after a three-week rally, according to MarketSmith analysis.

The relative strength line for Genuine Parts stock has rallied sharply to highs over the past several months.

On Thursday, the Atlanta-based auto parts company raised its full-year guidance on growth across its automotive and industrial sales.

Genuine Parts earnings per share advanced 19% to $2.23 and revenue grew 18% to $5.675 billion in Q3. GPC’s full-year guidance is now calling for EPS of $8.05-$8.15, up from $7.80-$7.95. The company now forecasts revenue growth of 15%-16%, up from the earlier 12%-14%.

During the Covid pandemic, supply chain constraints caused a major upheaval in the auto industry, sending prices for new and used cars to record levels. This has made consumers more likely to hang on to their existing vehicles for longer, driving mileage higher and boosting demand for auto replacement parts.

Fellow auto stocks O’Reilly Auto Parts (ORLY) and AutoZone (AZO) have also rallied near buy points amid the struggling market. O’Reilly reports on Oct. 26.

IBD ranks Genuine Parts first in the Retail/Wholesale-Auto Parts industry group. GPC stock has a 96 Composite Rating. Its Relative Strength Rating is 94 and it has an EPS Rating of 89.

SPDN: An Inexpensive Way To Profit When The S&P 500 Falls

Summary
SPDN is not the largest or oldest way to short the S&P 500, but it’s a solid choice.
This ETF uses a variety of financial instruments to target a return opposite that of the S&P 500 Index.
SPDN’s 0.49% Expense Ratio is nearly half that of the larger, longer-tenured -1x Inverse S&P 500 ETF.
Details aside, the potential continuation of the equity bear market makes single-inverse ETFs an investment segment investor should be familiar with.
We rate SPDN a Strong Buy because we believe the risks of a continued bear market greatly outweigh the possibility of a quick return to a bull market.
Put a gear stick into R position, (Reverse).
Birdlkportfolio

By Rob Isbitts

Summary
The S&P 500 is in a bear market, and we don’t see a quick-fix. Many investors assume the only way to navigate a potentially long-term bear market is to hide in cash, day-trade or “just hang in there” while the bear takes their retirement nest egg.

The Direxion Daily S&P 500® Bear 1X ETF (NYSEARCA:SPDN) is one of a class of single-inverse ETFs that allow investors to profit from down moves in the stock market.

SPDN is an unleveraged, liquid, low-cost way to either try to hedge an equity portfolio, profit from a decline in the S&P 500, or both. We rate it a Strong Buy, given our concern about the intermediate-term outlook for the global equity market.

Strategy
SPDN keeps it simple. If the S&P 500 goes up by X%, it should go down by X%. The opposite is also expected.

Proprietary ETF Grades
Offense/Defense: Defense

Segment: Inverse Equity

Sub-Segment: Inverse S&P 500

Correlation (vs. S&P 500): Very High (inverse)

Expected Volatility (vs. S&P 500): Similar (but opposite)

Holding Analysis
SPDN does not rely on shorting individual stocks in the S&P 500. Instead, the managers typically use a combination of futures, swaps and other derivative instruments to create a portfolio that consistently aims to deliver the opposite of what the S&P 500 does.

Strengths
SPDN is a fairly “no-frills” way to do what many investors probably wished they could do during the first 9 months of 2022 and in past bear markets: find something that goes up when the “market” goes down. After all, bonds are not the answer they used to be, commodities like gold have, shall we say, lost their luster. And moving to cash creates the issue of making two correct timing decisions, when to get in and when to get out. SPDN and its single-inverse ETF brethren offer a liquid tool to use in a variety of ways, depending on what a particular investor wants to achieve.

Weaknesses
The weakness of any inverse ETF is that it does the opposite of what the market does, when the market goes up. So, even in bear markets when the broader market trend is down, sharp bear market rallies (or any rallies for that matter) in the S&P 500 will cause SPDN to drop as much as the market goes up.

Opportunities
While inverse ETFs have a reputation in some circles as nothing more than day-trading vehicles, our own experience with them is, pardon the pun, exactly the opposite! We encourage investors to try to better-understand single inverse ETFs like SPDN. While traders tend to gravitate to leveraged inverse ETFs (which actually are day-trading tools), we believe that in an extended bear market, SPDN and its ilk could be a game-saver for many portfolios.

Threats
SPDN and most other single inverse ETFs are vulnerable to a sustained rise in the price of the index it aims to deliver the inverse of. But that threat of loss in a rising market means that when an investor considers SPDN, they should also have a game plan for how and when they will deploy this unique portfolio weapon.

Proprietary Technical Ratings
Short-Term Rating (next 3 months): Strong Buy

Long-Term Rating (next 12 months): Buy

Conclusions
ETF Quality Opinion
SPDN does what it aims to do, and has done so for over 6 years now. For a while, it was largely-ignored, given the existence of a similar ETF that has been around much longer. But the more tenured SPDN has become, the more attractive it looks as an alternative.

ETF Investment Opinion

SPDN is rated Strong Buy because the S&P 500 continues to look as vulnerable to further decline. And, while the market bottomed in mid-June, rallied, then waffled since that time, our proprietary macro market indicators all point to much greater risk of a major decline from this level than a fast return to bull market glory. Thus, SPDN is at best a way to exploit and attack the bear, and at worst a hedge on an otherwise equity-laden portfolio.