This post is about the value of education seminars as part of your marketing mix. It’s not a new idea, but one that I was recently on the receiving end of from a company called CMC Markets. They’re basically a spread betting company that provide a service where you bet on movements in share prices, the price of oil, or any of a variety of other indices.

The product is actually straight forward. You open an account and download their Marketmaker software. The software then enables you to very quickly start placing spread bets and then you’re away. The difficulty facing CMC Markets is two fold: people don’t understand how it all works, and there is a perception of its product being extremely risky - which to be fair it can be. You have the opportunity to make a lot of money very quickly, but conversely you can also lose a lot of money quickly as well.

CMC uses education as a way of countering both of these negatives. It’s education seminars help its clients to understand how to use the software and how to manage their exposure to risk. This helps to sign up customers, but also to increase the life time value of each customer. The seminars also help to dispel the perception of risk, as by increasing understanding, people are less likely to lose the shirt off their back.

So could this work for your business. In a word yes, why not? If you have a product that’s very technical or complex, where you need a specific licence or experience, then free education could help. It doesn’t necessarily have to be class room based, you could produce a small booklet, or better still a podcast, or online demonstration. This stuff is all accessible to even the smallest micro business.

However, for e-tailers, it’s becoming increasingly difficult to compete with the high street. The shops are becoming smarter at competing on price, for example PCs and electronics seem to be almost on a par these days. The little extra you pay at the shops more than makes up for the extra service.

So what can e-tailers do to ensure they remain competitive. Well for me, one of the biggest hang-ups with buying online is the checkout process. How frustrating is it when you decide on a product you want to buy, but the website makes it difficult to buy. Either you have to register all of your details, or you have to go to a different site, or there are hidden charges for delivery, or the delivery options are complex. One of the worst offenders for me here is Midland Main Line the UK train operator. Each time you find the tickets you want you need to login, however, I travel so infrequently I can never remember my login details - after all, I have login details for so many sites it gets a little confusing.

But today I came across an excellent example which I have to share. I’ve just booked some tickets to see Casino Royale, the new James Bond film, at my local Cineworld. I booked online and the process was so easy I actually felt compelled to write this blog. The process was smooth, simple, no login required, the product choice was stunningly easy and I received a confirmation email within seconds. Now that’s what I call great service - check it out for yourselves - www.cineworld.co.uk. This is without doubt a best practice example.

For example, if you run a computer company you’ll know your motherboard from your RAM and your hard disk from your CD-Rom. But you may not know the difference between your sales funnel and your buying roles, or your MBO and appraisal scheme.

So what can you do about this? Well, if you’re a micro business, one of the best things you can do is some personal development. Depending on your budget, you might like to attend a course, or buy a book that details the latest thinking or concepts. If you’re slightly larger, you could appoint a consultant to manage some of the more specialised roles. Obviously for the larger still you could take on a new employee, budget permitting.

But should this form part of your marketing plan? Well, to my mind, staff development is as valid a marketing campaign as advertising. People are one of the four Ps of marketing (or seven Ps of services marketing). The better trained you or your staff are, the better you will be able to service your customers needs and get those all important sales. For employees, training is a great way to increase motivation, generate commitment and improve performance.