The guide "Marketing in a Downturn" is now available. You can see the preface and contents of the guide, or buy a paper or download by clicking here.
An associate of mine said the other day, “Refuse to participate in the recession!”. Attitude does make a difference and this new white paper “Marketing in a Downturn” was written to provide ideas to help combat the temptation to pull back on marketing due to the economic slowdown.
Written in short article format, “Marketing in a Downturn” delivers thought-provoking ideas for business owners and management teams. The two dozen articles fall into three categories:
Fundamentals - Basics that should be considered all the time…no matter the economic conditions.
Strategic considerations - Those things that a business owner or management team should be thinking about as new ways to look at and go after business.
Tactics - Techniques and tips to make your marketing more cost-efficient and effective. The goal of this work is to help you to think a little differently, see new opportunities, and gain some positive perspective. Even when all around you (especially media), are bringing “rotten” messages.
Practical, applicable and thought-provoking, "Marketing in a Downturn" can help you deal with the current economic slowdown with solid, creative new marketing ideas.
To see the preface and table of contents or to buy a paperback or download copy of the guide, click here.
If you have questions or comments, or have a particular question or issue you'd like to discuss, e-mail me at coacheck@geniusmarketing.com.
SLE
Thursday, November 13, 2008
Monday, October 27, 2008
Marketing in a Downturn
It is an uncertain time for business right now. When times are uncertain, or just plain bad, business owners wisely become more conservative. Just like consumers, they pull back from major purchases and are careful how they spend their money.
One area this affects is marketing. An easy cost-saving move is to cut down on marketing outlays such as advertising, sales calls/travel and infrastructure. These are often necessary moves when cash flow is tightened.
I have seen a few articles in the business press on this subject. Making super insightful, money-saving comments such as:
Thanks so much! Not too expect too much, but aren’t these really things that should be done at all times, no matter the state of the economy or the particular industry?
Sure, truth be told, business owners and management teams can get busy, and may be less apt to keep tight controls on outsourced projects, like ad agency work.
Still, advice like being sure your agency or marketing partners are smart seems a little hollow and simplistic at times like these.
There are more proactive tactics that owners and management teams can consider when faced with shrinking resources for marketing. That’s why I’m working on a white paper on the subject and will make it available in early November. It will be an indepth look at the issues related to marketing in a downturn and give ideas for how you can help grow your business now (in the downturn) and create lasting impact (beyond the downturn).
Here’s one thing to consider until the white paper is available:
Focus more on market share and less on profit margin
Guess what? You are not the only one pulling back during the downturn. Just about everyone is. So consider how to use your marketing and sales efforts to make inroads gaining more customers and unseating the competition for the short term and worry less about profitability until the mid-to-long term.
In the white paper, we’ll look at this concept in detail and provide practical ways to do it.
Not surprising, my advice is to “keep marketing” in the downturn. The white paper, available through this space or on the website www.geniusmarketing.com will be available soon.
SLE
One area this affects is marketing. An easy cost-saving move is to cut down on marketing outlays such as advertising, sales calls/travel and infrastructure. These are often necessary moves when cash flow is tightened.
I have seen a few articles in the business press on this subject. Making super insightful, money-saving comments such as:
- minimize the number of revisions/edits you make when you develop materials
- make sure your agency has a timeline/benchmarks for producing materials
- question whether your marketing partners are smart, strategic, creative thinkers
- justify the choices of media and elements on a financial basis
Thanks so much! Not too expect too much, but aren’t these really things that should be done at all times, no matter the state of the economy or the particular industry?
Sure, truth be told, business owners and management teams can get busy, and may be less apt to keep tight controls on outsourced projects, like ad agency work.
Still, advice like being sure your agency or marketing partners are smart seems a little hollow and simplistic at times like these.
There are more proactive tactics that owners and management teams can consider when faced with shrinking resources for marketing. That’s why I’m working on a white paper on the subject and will make it available in early November. It will be an indepth look at the issues related to marketing in a downturn and give ideas for how you can help grow your business now (in the downturn) and create lasting impact (beyond the downturn).
Here’s one thing to consider until the white paper is available:
Focus more on market share and less on profit margin
Guess what? You are not the only one pulling back during the downturn. Just about everyone is. So consider how to use your marketing and sales efforts to make inroads gaining more customers and unseating the competition for the short term and worry less about profitability until the mid-to-long term.
In the white paper, we’ll look at this concept in detail and provide practical ways to do it.
Not surprising, my advice is to “keep marketing” in the downturn. The white paper, available through this space or on the website www.geniusmarketing.com will be available soon.
SLE
Thursday, September 25, 2008
Quality vs. Quantity, Part 2
Recently I was talking with a business owner about his e-mail newsletter. His organization does a great job using e-mail – they have opt-in and opt-out, use a professional service that provides them with design, database management and reporting, and (most importantly) they send good content.
E-mail is one of the key means this organization uses for connecting with its suspects. I define “suspects” as people we identify as potential prospects – they may want or need our product. (“Prospects”, in my lexicon, are defined as those we know want or need our product…we just haven’t convinced them it is from us they should buy!)
E-mails are sent to suspects about opportunities to attend events and free tips and techniques – sample snippets of this business’s services that the reader can use in their business life. The owner’s question concerned how often e-mail newsletters should be sent and with what type of content.
The owner laid out the options his team had discussed:
1) sending a series of e-mails during the course of a month with invitation to an event and then switching the suspect to the “tips” email, or
2) sending one invitation monthly to an event, and then switching to the “tips” email and they receive both
This is a new twist on a question that I hear fairly often: how much is enough and how much is too much?
As we discussed the options, many issues were uncovered:
- we want to get the suspect to the next step in the sales process
- we want to show them the value and quality of our services through the sample snippets
- we don’t want to inundate them with e-mail
- we don’t want them to miss our offer because of they are busy or get a lot of e-mail
Since the “tips” email is also used with customers (past and present), an important first step is deciding if there should be a separate contact stream for customers. If so, the content will differ in a couple ways. It will:
- reinforce the purchase decision by providing information as added value
- promote new offerings and add-ons the customer did not previously buy
- it will ask for referrals
To this end, we discussed a new alternative on the contact stream:
1) Suspects and prospects would receive a series of emails inviting them to an event
2) If they did not respond (attend) the event or otherwise move forward in the sales process, they would be left off the event invitation list for a couple months, but receive a cutdown version of the “tips” e-newsletter
3) Customers (past and present) and friends would receive the full “tips” version of the newsletter including a reference to the event that asks for referrals or to come and bring a friend
By creating two streams of contact, one for suspects/prospects and the other for customers, the content can be better managed and offers more likely appropriate. By “oscillating” suspects/prospects between event invitations and “tips” samples of the services that have real information of value, the number of contacts can be increased. Since a minority of those are direct solicitation (come to an event), the perception of the level and value of the contacts remains higher.
Quantity and Quality are both served.
SLE
E-mail is one of the key means this organization uses for connecting with its suspects. I define “suspects” as people we identify as potential prospects – they may want or need our product. (“Prospects”, in my lexicon, are defined as those we know want or need our product…we just haven’t convinced them it is from us they should buy!)
E-mails are sent to suspects about opportunities to attend events and free tips and techniques – sample snippets of this business’s services that the reader can use in their business life. The owner’s question concerned how often e-mail newsletters should be sent and with what type of content.
The owner laid out the options his team had discussed:
1) sending a series of e-mails during the course of a month with invitation to an event and then switching the suspect to the “tips” email, or
2) sending one invitation monthly to an event, and then switching to the “tips” email and they receive both
This is a new twist on a question that I hear fairly often: how much is enough and how much is too much?
As we discussed the options, many issues were uncovered:
- we want to get the suspect to the next step in the sales process
- we want to show them the value and quality of our services through the sample snippets
- we don’t want to inundate them with e-mail
- we don’t want them to miss our offer because of they are busy or get a lot of e-mail
Since the “tips” email is also used with customers (past and present), an important first step is deciding if there should be a separate contact stream for customers. If so, the content will differ in a couple ways. It will:
- reinforce the purchase decision by providing information as added value
- promote new offerings and add-ons the customer did not previously buy
- it will ask for referrals
To this end, we discussed a new alternative on the contact stream:
1) Suspects and prospects would receive a series of emails inviting them to an event
2) If they did not respond (attend) the event or otherwise move forward in the sales process, they would be left off the event invitation list for a couple months, but receive a cutdown version of the “tips” e-newsletter
3) Customers (past and present) and friends would receive the full “tips” version of the newsletter including a reference to the event that asks for referrals or to come and bring a friend
By creating two streams of contact, one for suspects/prospects and the other for customers, the content can be better managed and offers more likely appropriate. By “oscillating” suspects/prospects between event invitations and “tips” samples of the services that have real information of value, the number of contacts can be increased. Since a minority of those are direct solicitation (come to an event), the perception of the level and value of the contacts remains higher.
Quantity and Quality are both served.
SLE
Friday, September 19, 2008
Quality vs. Quantity
I was talking with a business owner about his sporadic efforts at reaching out to his customers and prospects regarding his company, products and new offers. He was in agreement that his organization had to do a better job getting information organized and out. We targeted developing a process for managing the outbound communications.
As we (and I without the owner) talked with other members of the management team about the gaps in the process or where things got jammed up, it became apparent that process wasn’t the only issue. It seems that lots of work was done organizing product information or new offers, developing outbound communications and routing them for approval. Yet these tactics never launched (at least on schedule). You can guess where the logjam was – the owner.
Business owners often have two traits that make them successful…and can be their undoing. The first is a vision for what needs to be done – this often is why they are in business – they saw a market opportunity and fulfilled the market’s need or want. The other trait is a touch of perfectionism. In their vision, things are “just so”.
When it comes to marketing communications, we all want to put our best foot forward. After all, our communications are often the first way a prospect “meets” our organization and we know that a good first impression…
No doubt quality delivery is a key to success in business. In that same way, our marketing communications should be of quality – clear, logical and concise in the explanation of the unique selling proposition.
In this case, the owner’s zeal for quality (with a contributing factor of an owner’s busy schedule) were undermining the health and wellbeing of the marketing effort at the organization. When a new offer was developed, it would take weeks or months for the prospect and customer to learn of it. The communications (and the okay for the sales team to discuss the offer) were under scrutiny at the owner’s desk. The result was a longer development to sales close cycle and sporadic at best delivery of the marketing message.
To overcome this, the marketing and sales team took extra time and care to make the marketing “perfect”. They then submitted a “finished” product to the boss. With predictable results…”Can I change this?”…often came up in the ensuing conversation. Or “Why didn’t I see this earlier?” Or “I had a new idea for handling this sort of thing.”
By trying to meet the “perfect vision” of the boss, the team spent even more time rendering multiple versions of “finished” work.
The solution (in theory) was easy. In practice, well, it takes practice. Here’s what we did:
1. Reviewed the company’s standards for communications – graphics, design, copy/content, logo use, etc. This addressed the issue of meeting the owner’s vision for marketing. Once there was solid agreement for what was permitted and expected, a checklist/cheat sheet was developed.
2. Time on the agenda of team meetings was set for a quick discussion of the standards and new ideas – this was done quarterly, not at every team meeting.
3. The review process for new communications was reworked to a multiple step process. First a manuscript (copy/content plus description of design) of the communication was approved, then one layout for markup and approval. The third and final approval was an FYI that included the “finished” product plus detail on dates for release to the audience. It also included copies of the changes submitted at the manuscript and layout stages.
4. Triple deadlines for each approval step were set. The date when the item will be submitted for review/approval, the deadline for review/approval and an earlier closing date for the owner (or anyone on the management team) to submit ideas before the item is submitted for review. (Yes, that last one is tough in practice.)
5. The final (“finished” product) review is for information only unless there is an error, omission or some other critical change. (Defining what is “critical” is also a work in practice!)
It took effort and the team “speaking the truth” about what the issues were. The result of this process change has resulted in a more consistent communications schedule while maintaining the desired quality of the communications. Plus, more confident action and trust between the team members and owner.
SLE
As we (and I without the owner) talked with other members of the management team about the gaps in the process or where things got jammed up, it became apparent that process wasn’t the only issue. It seems that lots of work was done organizing product information or new offers, developing outbound communications and routing them for approval. Yet these tactics never launched (at least on schedule). You can guess where the logjam was – the owner.
Business owners often have two traits that make them successful…and can be their undoing. The first is a vision for what needs to be done – this often is why they are in business – they saw a market opportunity and fulfilled the market’s need or want. The other trait is a touch of perfectionism. In their vision, things are “just so”.
When it comes to marketing communications, we all want to put our best foot forward. After all, our communications are often the first way a prospect “meets” our organization and we know that a good first impression…
No doubt quality delivery is a key to success in business. In that same way, our marketing communications should be of quality – clear, logical and concise in the explanation of the unique selling proposition.
In this case, the owner’s zeal for quality (with a contributing factor of an owner’s busy schedule) were undermining the health and wellbeing of the marketing effort at the organization. When a new offer was developed, it would take weeks or months for the prospect and customer to learn of it. The communications (and the okay for the sales team to discuss the offer) were under scrutiny at the owner’s desk. The result was a longer development to sales close cycle and sporadic at best delivery of the marketing message.
To overcome this, the marketing and sales team took extra time and care to make the marketing “perfect”. They then submitted a “finished” product to the boss. With predictable results…”Can I change this?”…often came up in the ensuing conversation. Or “Why didn’t I see this earlier?” Or “I had a new idea for handling this sort of thing.”
By trying to meet the “perfect vision” of the boss, the team spent even more time rendering multiple versions of “finished” work.
The solution (in theory) was easy. In practice, well, it takes practice. Here’s what we did:
1. Reviewed the company’s standards for communications – graphics, design, copy/content, logo use, etc. This addressed the issue of meeting the owner’s vision for marketing. Once there was solid agreement for what was permitted and expected, a checklist/cheat sheet was developed.
2. Time on the agenda of team meetings was set for a quick discussion of the standards and new ideas – this was done quarterly, not at every team meeting.
3. The review process for new communications was reworked to a multiple step process. First a manuscript (copy/content plus description of design) of the communication was approved, then one layout for markup and approval. The third and final approval was an FYI that included the “finished” product plus detail on dates for release to the audience. It also included copies of the changes submitted at the manuscript and layout stages.
4. Triple deadlines for each approval step were set. The date when the item will be submitted for review/approval, the deadline for review/approval and an earlier closing date for the owner (or anyone on the management team) to submit ideas before the item is submitted for review. (Yes, that last one is tough in practice.)
5. The final (“finished” product) review is for information only unless there is an error, omission or some other critical change. (Defining what is “critical” is also a work in practice!)
It took effort and the team “speaking the truth” about what the issues were. The result of this process change has resulted in a more consistent communications schedule while maintaining the desired quality of the communications. Plus, more confident action and trust between the team members and owner.
SLE
Friday, September 12, 2008
Election Ads
Someone asked me what I thought about all the election ads running. The great thing about election ads is that you don’t have to wait to see which ones are working. If you see one today and see it again in three or four days, you know it has had an effect. That’s how keyed to response the election managers are these days.
Ads are also interesting because they can give an inside look at the candidate’s and campaign’s mindset. Ads should reflect (just like your company’s ads) the unique selling proposition of the candidate and campaign. Some do, and some don’t. Even so called “negative” ads – pointing out the foibles or failings of the opponent – should reflect the unique selling proposition.
Coming out of the two party conventions, it seems that one campaign is right on its unique selling proposition and one isn’t. The theme of the Democrat convention was change. It’s speeches and ads during the week were all about the change that Senators Obama and Biden would bring to the White House.
The Republican convention was about the concept of reform. It’s speeches and ads focused on how Senator McCain and Governor Palin will take on and reform the Washington status quo.
No matter how you lean politically, you must admit that these selling propositions were clearly communicated at the conventions. However, since then, there has been a shift in the advertising messages.
From the ads I’ve seen (and I am not a TV or political junkie, so know this is based on my exposure…) Senator McCain’s campaign remains more closely tied to its selling proposition (reform) than Senator Obama’s campaign (change). The Obama campaign has shifted off its main theme in response to the Republican convention and its theme.
This is a mistake. Just like your organization must stay on its unique selling proposition, candidates must, too. This is not to say good marketing excludes comparisons with the competitor product. Comparisons in marketing can be used to help further establish the differences between products and thereby reinforce the unique selling proposition. Afterall, differences from other products is part of what makes the selling proposition unique!
However, using your marketing to talk about the competition can also promote the competition. Remember the old adage – any publicity is good publicity as long as they spell your name right. If you spend too much time in your communications talking about the competition, two undesirable things may happen:
- some of the prospects will learn of and about your competition (when they may not have known previously)
- some of the prospects, with this new knowledge, may like the competition’s proposition and consider it
In other words, whether running for office, or selling a product, be careful when talking about the competition. Your communications should explain YOUR unique selling proposition, not your competition’s.
SLE
Ads are also interesting because they can give an inside look at the candidate’s and campaign’s mindset. Ads should reflect (just like your company’s ads) the unique selling proposition of the candidate and campaign. Some do, and some don’t. Even so called “negative” ads – pointing out the foibles or failings of the opponent – should reflect the unique selling proposition.
Coming out of the two party conventions, it seems that one campaign is right on its unique selling proposition and one isn’t. The theme of the Democrat convention was change. It’s speeches and ads during the week were all about the change that Senators Obama and Biden would bring to the White House.
The Republican convention was about the concept of reform. It’s speeches and ads focused on how Senator McCain and Governor Palin will take on and reform the Washington status quo.
No matter how you lean politically, you must admit that these selling propositions were clearly communicated at the conventions. However, since then, there has been a shift in the advertising messages.
From the ads I’ve seen (and I am not a TV or political junkie, so know this is based on my exposure…) Senator McCain’s campaign remains more closely tied to its selling proposition (reform) than Senator Obama’s campaign (change). The Obama campaign has shifted off its main theme in response to the Republican convention and its theme.
This is a mistake. Just like your organization must stay on its unique selling proposition, candidates must, too. This is not to say good marketing excludes comparisons with the competitor product. Comparisons in marketing can be used to help further establish the differences between products and thereby reinforce the unique selling proposition. Afterall, differences from other products is part of what makes the selling proposition unique!
However, using your marketing to talk about the competition can also promote the competition. Remember the old adage – any publicity is good publicity as long as they spell your name right. If you spend too much time in your communications talking about the competition, two undesirable things may happen:
- some of the prospects will learn of and about your competition (when they may not have known previously)
- some of the prospects, with this new knowledge, may like the competition’s proposition and consider it
In other words, whether running for office, or selling a product, be careful when talking about the competition. Your communications should explain YOUR unique selling proposition, not your competition’s.
SLE
Monday, September 1, 2008
Gold Medal Marketing
I, like anyone who watched, was amazed by the Olympic spectacle that was Michael Phelps. As I watched him win gold after gold, I couldn’t help but think about all the other guys in the pool. It was interesting watching their reactions. Many were very happy, even though they lost the race. While NASCAR legends may say that the second place racer is “the first loser”, the Olympics shows that competing well and being one of the top competitors is fun, too.
I relate this to marketing in that often times I hear business owners and executives lamenting what their organizations are not doing in marketing and sales. As I work with companies, it seems this angst over marketing success always comes up. My response is usually this: if you do the things we’re working on, your company will be one of the top marketing organizations in the marketplace.
Is that because I know the ads and direct mail and sales calls will result in 100% response rate - a win every time ala Michael Phelps? Obviously not. It is because their marketing and sales process will be functioning in a healthy, proactive manner. And this is not the case in the majority of organizations.
Marketing is a lot about consistency and trial and error. Trying things, testing things and continually serving up the proof points of your unique selling proposition. Most companies chase after marketing and sales – throwing money at tactics or people at the marketplace to make sales happen. Some stuff works, some doesn’t. Success may come, but it can be tenuous. Changes in the marketplace or turnover in the sales staff can cause a plummet in sales. The owner or management team gets busy and nothing happens because there is no marketing process or accountability system.
The real key to consistent sales is a strategic approach to marketing. Researching and targeting the market, building strategies, testing tactics, consistent communication. Building a process and running the process. Sounds kind of hard and maybe even boring. Like training for a race. Yet if done, it will make your company a top marketing organization.
You may not win every race, but you’ll be in the pool for a shot at a medal.
SLE
I relate this to marketing in that often times I hear business owners and executives lamenting what their organizations are not doing in marketing and sales. As I work with companies, it seems this angst over marketing success always comes up. My response is usually this: if you do the things we’re working on, your company will be one of the top marketing organizations in the marketplace.
Is that because I know the ads and direct mail and sales calls will result in 100% response rate - a win every time ala Michael Phelps? Obviously not. It is because their marketing and sales process will be functioning in a healthy, proactive manner. And this is not the case in the majority of organizations.
Marketing is a lot about consistency and trial and error. Trying things, testing things and continually serving up the proof points of your unique selling proposition. Most companies chase after marketing and sales – throwing money at tactics or people at the marketplace to make sales happen. Some stuff works, some doesn’t. Success may come, but it can be tenuous. Changes in the marketplace or turnover in the sales staff can cause a plummet in sales. The owner or management team gets busy and nothing happens because there is no marketing process or accountability system.
The real key to consistent sales is a strategic approach to marketing. Researching and targeting the market, building strategies, testing tactics, consistent communication. Building a process and running the process. Sounds kind of hard and maybe even boring. Like training for a race. Yet if done, it will make your company a top marketing organization.
You may not win every race, but you’ll be in the pool for a shot at a medal.
SLE
Friday, July 25, 2008
Do I Really Want Women Up My Nose?
I know I'm outside (just outside!) the target age demographic, but nonetheless I am once again disgusted by a high profile ad campaign that targets younger men. Shaving products Edge Eclipse and Edge Energy are featured in a combined TV ad that enlists young women scantily clad with GhostBuster or Austin Powers-esque equipment to explain why the products work so well.
I realize that shaving products have a long history of featuring beautiful women who find a close shave attractive. However, typically those ads feature a man who shaves and a woman who rubs his chin or cheek. Both are happy with the product and the resulting close shave. These ads permit the viewer to see themselves in this position - I'd like it if my wife liked my shave, I think I'll try this product.
The Edge ads (like so many others) feature a man (who is supposed to represent the viewer) and multiple women in a supporting role of acting stupid and looking sexy. In this case, the man is shaving, and the women are micro-size metaphors for a product feature.
In the first portion of the ad, the micro-women are in the man's beard spraying each other with white foam. The product feature is moisturizer in the gel. In the second portion of the ad, the micro-women fly into the man's nose and have a disco dance party (mirror ball and everything). The product feature is the product's smell. Seriously.
Feel free to make your own joke about the mirror ball. Were they trying to make such a stupid ad? It would be hard to do any better if you were trying.
This ad isn't just offensive because it shows women in this way. It is also offensive because it means that the creatives involved believe they couldn't get the attention of their male target market without a sex angle. Men AND women should be offended by this ad.
Below is a link to a post-production "privately edited" version of the ad. Listen for the two added special effect "punchlines" that do a much better job than I in pointing out how stupid this ad is...
SLE
http://www.youtube.com/watch?v=PrRA4l1qdu4
I realize that shaving products have a long history of featuring beautiful women who find a close shave attractive. However, typically those ads feature a man who shaves and a woman who rubs his chin or cheek. Both are happy with the product and the resulting close shave. These ads permit the viewer to see themselves in this position - I'd like it if my wife liked my shave, I think I'll try this product.
The Edge ads (like so many others) feature a man (who is supposed to represent the viewer) and multiple women in a supporting role of acting stupid and looking sexy. In this case, the man is shaving, and the women are micro-size metaphors for a product feature.
In the first portion of the ad, the micro-women are in the man's beard spraying each other with white foam. The product feature is moisturizer in the gel. In the second portion of the ad, the micro-women fly into the man's nose and have a disco dance party (mirror ball and everything). The product feature is the product's smell. Seriously.
Feel free to make your own joke about the mirror ball. Were they trying to make such a stupid ad? It would be hard to do any better if you were trying.
This ad isn't just offensive because it shows women in this way. It is also offensive because it means that the creatives involved believe they couldn't get the attention of their male target market without a sex angle. Men AND women should be offended by this ad.
Below is a link to a post-production "privately edited" version of the ad. Listen for the two added special effect "punchlines" that do a much better job than I in pointing out how stupid this ad is...
SLE
http://www.youtube.com/watch?v=PrRA4l1qdu4
Thursday, July 10, 2008
It's the Process, Stupid
Much marketing time, energy and dollars are spent on things like taglines, photos, ad placements, tactic development. These are all important. Yet individually they don't make a sale happen. Many businesses forget that the process is the glue, the framing, the rope...choose your analogy...that brings together the buyer and the seller. Mapping the marketing and sales process doesn't sound like a whole lot of fun. Yet understanding where sales really come from and how they get done in the real world of your organization and marketplace is invaluable. When working through this issue, rare is the time that one of my clients has done this work...and nonexistent is anyone who didn't learn from the process and have a deeper understanding of why (or why not) their organization's marketing is working. Often, working through the process uncovers gaps - areas where there is no process in place (which leaves the prospect navigating on their own) - or dams - spots where the process is clogged due to lack of capacity or other problem (which leaves even willing buyers unable to move forward and buy!). An example of a dam that I am dealing with right now - have a small problem on my roof flashing and don't want to go up on the 3+ floor high roof to fix it myself. I am stuck by a dam in the contractors' sales process; there is a lack of qualified estimators to spend the time to come to look at the job. I want to buy, I need to buy, I am an easy sale...but their own process shortcomings means I cannot buy. Yoi! Gaps and dams can happen at any stage of the marketing and sales process. I enjoy working through the process with owners and executives. It is often the most biggest "wow" of my coaching. SLE
Wednesday, June 25, 2008
Ideas are a Dime a Dozen - Execution is One in a Million
Working with a client on a product launch project, I was brought in to come up with a plan for promoting the launch. Specifically, the client said they needed some innovative ideas. I was sure once we got into the discussion that there would be plenty of ideas. After all, people are designed to be creative - from childhood we explore, dream and create. When this innate desire meets a marketing project, creative (naturally) becomes the focal point. People like generating ideas, being creative and having fun dreaming about what could be. And indeed, when we got into the idea generation stage of the product launch plan, ideas flowed freely.
There are almost always more ideas than there is budget, time and manpower to execute the ideas. That's why the hardest part of a marketing project is cutting down the ideas to a manageable number and managing the execution of the ideas. That really is where the marketing "rubber meets the road". It is easy to have a great idea, it is exponentially more difficult to pull off the idea well and track its effectiveness. It was in the execution of the product launch where I really earned my keep with the client - helping them decide which ideas to execute, build the project team, manage the plan and track the results.
In particular, deciding which ideas to execute is very difficult. That is where the relative value of each idea is weighed. Which ideas fit best with the strategic goals of the product launch? Which ideas could be handled by the available staff, within the budget and the time available? Which ideas would have the greatest return on investment? Once those questions are answered, ideas must be turned into projects - the nitty gritty of executing versus a budget and timeline.
Are creative ideas important to successful marketing? Absolutely! Yet, I'd say more important is the decision about which ideas to execute and the management of that execution. Maybe that's why I like this quote from Ashleigh Brilliant: Good ideas are common - what's uncommon are people who'll work hard enough to bring them about.
SLE
There are almost always more ideas than there is budget, time and manpower to execute the ideas. That's why the hardest part of a marketing project is cutting down the ideas to a manageable number and managing the execution of the ideas. That really is where the marketing "rubber meets the road". It is easy to have a great idea, it is exponentially more difficult to pull off the idea well and track its effectiveness. It was in the execution of the product launch where I really earned my keep with the client - helping them decide which ideas to execute, build the project team, manage the plan and track the results.
In particular, deciding which ideas to execute is very difficult. That is where the relative value of each idea is weighed. Which ideas fit best with the strategic goals of the product launch? Which ideas could be handled by the available staff, within the budget and the time available? Which ideas would have the greatest return on investment? Once those questions are answered, ideas must be turned into projects - the nitty gritty of executing versus a budget and timeline.
Are creative ideas important to successful marketing? Absolutely! Yet, I'd say more important is the decision about which ideas to execute and the management of that execution. Maybe that's why I like this quote from Ashleigh Brilliant: Good ideas are common - what's uncommon are people who'll work hard enough to bring them about.
SLE
Monday, June 9, 2008
A Satisfied Customer
There is an old adage that "a satisfied customer will be a repeat customer". If you ask a business person whether this is true, they will probably answer affirmatively. As business owners we count on the quality of our product or service, a fair price, a good experience to result in a repeat customer. In fact, truth be told, we probably believe that at some level, if we deliver for the customer we are entitled to repeat business...afterall, we more than uphold our part of the bargain, why shouldn't we get more of that customer's business?
I think business owners may also believe the adage is true because they know the converse is true: "a dissatisfied customer will not be a repeat customer". Unfortunately, most business owners have faced that situation more than they care to admit!
Yet, research doesn't necessarily back up these ideas. In a research study done by a trade group, buyers were queried about changing suppliers. The number one reason that buyers changed suppliers: a lack of attention by the seller after the sale!
On the other hand, research reported by the American Marketing Association shows that customers who are dissatisfied or have a complaint may become even more of a loyal customer if the problem is addressed well by the supplier.
Both of these issues revolve around selling after the sale. Too often the marketing effort ends with the sale. Yet, in both cases- good buy/sell experience and bad buy/sell experience - future sales and customer loyalty (meaning not changing suppliers) requires the marketing to continue. That doesn't mean shilling the next sale, it means reinforcing the buying decision.
In the case of the customer with a bad experience, the organization must be responsive to resolve the issue and the perceptions surrounding the experience. In the case of the customer with the good experience, we must continue to reinforce the good reasons that the person bought the product and service.
Like a prospect who needs to be enticed with how great the experience and satisfaction will be when he/she buys, the customer needs to continue to be reminded what is extraordinary about the product or service experience.
The good news is that much research has been done on the cost and difficulty of selling new business versus gaining repeat business, and it is much less expensive and easier to gain repeat business. Just remember, it doesn't mean do nothing and just wait for that repeat business to roll in (or run off chasing new business thinking the repeat business will take care of itself). What is required is what we discuss in the sales process module of "The Marketing Coach" course: developing the processes necessary for both new and repeat sales so we understand and can manage successfully the steps that lead to the sale and repeat sale.
SLE
I think business owners may also believe the adage is true because they know the converse is true: "a dissatisfied customer will not be a repeat customer". Unfortunately, most business owners have faced that situation more than they care to admit!
Yet, research doesn't necessarily back up these ideas. In a research study done by a trade group, buyers were queried about changing suppliers. The number one reason that buyers changed suppliers: a lack of attention by the seller after the sale!
On the other hand, research reported by the American Marketing Association shows that customers who are dissatisfied or have a complaint may become even more of a loyal customer if the problem is addressed well by the supplier.
Both of these issues revolve around selling after the sale. Too often the marketing effort ends with the sale. Yet, in both cases- good buy/sell experience and bad buy/sell experience - future sales and customer loyalty (meaning not changing suppliers) requires the marketing to continue. That doesn't mean shilling the next sale, it means reinforcing the buying decision.
In the case of the customer with a bad experience, the organization must be responsive to resolve the issue and the perceptions surrounding the experience. In the case of the customer with the good experience, we must continue to reinforce the good reasons that the person bought the product and service.
Like a prospect who needs to be enticed with how great the experience and satisfaction will be when he/she buys, the customer needs to continue to be reminded what is extraordinary about the product or service experience.
The good news is that much research has been done on the cost and difficulty of selling new business versus gaining repeat business, and it is much less expensive and easier to gain repeat business. Just remember, it doesn't mean do nothing and just wait for that repeat business to roll in (or run off chasing new business thinking the repeat business will take care of itself). What is required is what we discuss in the sales process module of "The Marketing Coach" course: developing the processes necessary for both new and repeat sales so we understand and can manage successfully the steps that lead to the sale and repeat sale.
SLE
Tuesday, May 27, 2008
I'll Try Anything Once...
I was recently talking to a business owner about his organization's communications strategy. He had recently purchased an ad package on a local info-mertial only cable station. The station runs ads that range in length from 5 to 30 minutes.
I asked him why he had decided to try out this method of communicating. He responded that he was willing to try anything once, and that it was the only way for him to see what worked for his marketing communications arsenal.
This is not uncommon. Failing hard evidence of how a communications medium will work for them, business owners will often "all-up test". "All-up testing" was developed by NASA in the Apollo program to speed the process of reaching the moon. Instead of testing the components of a rocket, say each stage of the rocket's propulsion system one at a time, the all-up test would use a complete rocket and test it via a live launch. The approach worked for NASA - they did land men on the moon with the result of "all-up testing"...the Saturn V rocket.
For business owners, willingness to "all-up test" with "live" dollars, is driven by the same desire that NASA had - get there faster. Business owners see a new avenue to communicate with potential customers and they want to try it now to see if it will work. Could this new idea be the "one thing"? (see 5/5/08 post of this blog for explanation of the "one thing")
What business owners are not sometimes aware of is that they are not just testing a medium when they throw an ad on cable tv or buy a new type of ad specialty or place an ad on a website. They are testing the medium, the message, the position, the timing, and perhaps two or three other variables.
This may not seem like a big deal, but I've met many business owners who bought a certain medium and complained "It worked for a while, but then all of a sudden, nothing!" They want to know why...
I don't know (I wasn't there to test it), but I have a guess - one of the untested variables was changed. They changed the offer, the message, the way the product or service was presented, timing, etc. So while it appeared the medium stopped working, in reality, some other variable in the mix (or combination of variables) was/were the driver of the responses. But since these different aspects of the mix were not tested for their impact on success, there was no way to understand what happened. Leaving the business owner (and probably also the salesperson who sold the medium) frustrated.
It is better to breakdown the parts of the whole and test the new medium carefully. That way, you can continually improve your results and instead of trying new ideas once, you can build a true arsenal - tried and true marketing "weapons" that work for specific markets, products, messages, offers, promotions, etc. Genius!
SLE
I asked him why he had decided to try out this method of communicating. He responded that he was willing to try anything once, and that it was the only way for him to see what worked for his marketing communications arsenal.
This is not uncommon. Failing hard evidence of how a communications medium will work for them, business owners will often "all-up test". "All-up testing" was developed by NASA in the Apollo program to speed the process of reaching the moon. Instead of testing the components of a rocket, say each stage of the rocket's propulsion system one at a time, the all-up test would use a complete rocket and test it via a live launch. The approach worked for NASA - they did land men on the moon with the result of "all-up testing"...the Saturn V rocket.
For business owners, willingness to "all-up test" with "live" dollars, is driven by the same desire that NASA had - get there faster. Business owners see a new avenue to communicate with potential customers and they want to try it now to see if it will work. Could this new idea be the "one thing"? (see 5/5/08 post of this blog for explanation of the "one thing")
What business owners are not sometimes aware of is that they are not just testing a medium when they throw an ad on cable tv or buy a new type of ad specialty or place an ad on a website. They are testing the medium, the message, the position, the timing, and perhaps two or three other variables.
This may not seem like a big deal, but I've met many business owners who bought a certain medium and complained "It worked for a while, but then all of a sudden, nothing!" They want to know why...
I don't know (I wasn't there to test it), but I have a guess - one of the untested variables was changed. They changed the offer, the message, the way the product or service was presented, timing, etc. So while it appeared the medium stopped working, in reality, some other variable in the mix (or combination of variables) was/were the driver of the responses. But since these different aspects of the mix were not tested for their impact on success, there was no way to understand what happened. Leaving the business owner (and probably also the salesperson who sold the medium) frustrated.
It is better to breakdown the parts of the whole and test the new medium carefully. That way, you can continually improve your results and instead of trying new ideas once, you can build a true arsenal - tried and true marketing "weapons" that work for specific markets, products, messages, offers, promotions, etc. Genius!
SLE
Monday, May 5, 2008
What's the One Thing that Will Grow Sales?
I talk to a lot of people about marketing and sales, whether in a business or other settings. Often I am asked a question or series of questions that in the end boils down to this- "What is the one thing I should do to build my business (or sales)?"
Ah yes, the silver bullet, the golden key, the one thing that will solve all the problems...and hopefully do so at very little cost! We all try to do this in our life and work- it is really an attempt to take the complexity out of what we are trying to do so we feel more control over the results we achieve.
When considering marketing and sales, it is understandable to try to break the clutter of complexity. There have never been more options for promoting your product or service. Never been more ideas for creatively packaging your message. Never been more media choices to target your audience.
So, what is the "one thing"? When I'm asked this question I usually respond with "a plan". I know, not as jazzy as spouting off the latest trend like "create a campaign around a green theme" or "use a text message strategy".
No, a plan isn't jazzy. Yet it is the one thing you can do to optimize the resources you have and make wise decisions on how to reach out to your prospects and customers. It provides the framework for testing what works and allows for both fun and creative idea generation while considering the important matters of resource allocation (i.e. how much money, time, people and energy we have to put towards marketing).
Sometimes this opens up a great discussion about process and organizational pressures and long term goals. That's a great place to start on the journey to the "one thing".
Conversely, sometimes my response leads to a follow up question, "Yeah, but I'm thinking about doing a (insert creative idea here) and am just wondering if that will bring in the sales I need." Uh oh. Red flag. I know I am talking to a business owner who will continue to chase the latest, greatest creative or media idea a sales rep can bring him/her. A business owner who will probably always struggle to understand from where sales really come. And maybe, struggle to stay in business.
Ah yes, the silver bullet, the golden key, the one thing that will solve all the problems...and hopefully do so at very little cost! We all try to do this in our life and work- it is really an attempt to take the complexity out of what we are trying to do so we feel more control over the results we achieve.
When considering marketing and sales, it is understandable to try to break the clutter of complexity. There have never been more options for promoting your product or service. Never been more ideas for creatively packaging your message. Never been more media choices to target your audience.
So, what is the "one thing"? When I'm asked this question I usually respond with "a plan". I know, not as jazzy as spouting off the latest trend like "create a campaign around a green theme" or "use a text message strategy".
No, a plan isn't jazzy. Yet it is the one thing you can do to optimize the resources you have and make wise decisions on how to reach out to your prospects and customers. It provides the framework for testing what works and allows for both fun and creative idea generation while considering the important matters of resource allocation (i.e. how much money, time, people and energy we have to put towards marketing).
Sometimes this opens up a great discussion about process and organizational pressures and long term goals. That's a great place to start on the journey to the "one thing".
Conversely, sometimes my response leads to a follow up question, "Yeah, but I'm thinking about doing a (insert creative idea here) and am just wondering if that will bring in the sales I need." Uh oh. Red flag. I know I am talking to a business owner who will continue to chase the latest, greatest creative or media idea a sales rep can bring him/her. A business owner who will probably always struggle to understand from where sales really come. And maybe, struggle to stay in business.
Tuesday, April 22, 2008
Why the Marketing Coach...
In a meeting last week I was asked why I had developed the marketing coaching curriculum. I hadn't thought about the episode in a while, but I find it illustrative of a common business problem and worth sharing here.
Working out of a shared office space afforded the opportunity to meet and share ideas with a number of small business owners. One afternoon, a woman who owned a consulting company housed down the hall came into my office and asked me to look over a marketing plan. She had commissioned a downtown ad and design agency to create a plan to help grow her company.
The binder housing the plan was very nice. Tabbed and complete - with all the sections you find when reading about a marketing plan in a marketing text book. Advertising, PR, Direct Mail, etc.
The plan also included strategies that are more rarely utilized, but nonetheless were appropriate ideas for the type of company and service provided - expert marketing (become a known expert in the field including speaking engagements and tv apprearances), getting published, and more. And the creative was fantastic, clever wording and classy design.
After I read the plan, I met with the business owner. I told her (literally) that if I was given this binder and told that it was what I needed to do to grow my business, that I would go home and quit. Why? Simply because there was no way that her organization could implement the plan. Were there solid ideas and creative? Absolutely. Did it take into consideration the company's size, resources and sales processes? Absolutely not. It had no framework for the business owner to integrate the plan elements into the existing organization, its processes and culture. An organization (like all businesses) that has limits of time, money, people and energy to expend on marketing.
The key to effective marketing plan development is understanding the current situation, how sales are made, what the organization culture is, what the current brand and selling proposition are. I began coaching business owners because I have found it to be the way to make the planning and implementation happen in a way that works for that particular organization.
Otherwise, the plan binder gets stuck on a shelf and the business goes on as usual...maybe using one or two ideas from the plan. That's why I use the Simple Marketing Plan and why I developed the Marketing Coach Curriculum...because a plan isn't worth salt if it doesn't get implemented and implementation is about processes and people, not planning binders.
SLE
Working out of a shared office space afforded the opportunity to meet and share ideas with a number of small business owners. One afternoon, a woman who owned a consulting company housed down the hall came into my office and asked me to look over a marketing plan. She had commissioned a downtown ad and design agency to create a plan to help grow her company.
The binder housing the plan was very nice. Tabbed and complete - with all the sections you find when reading about a marketing plan in a marketing text book. Advertising, PR, Direct Mail, etc.
The plan also included strategies that are more rarely utilized, but nonetheless were appropriate ideas for the type of company and service provided - expert marketing (become a known expert in the field including speaking engagements and tv apprearances), getting published, and more. And the creative was fantastic, clever wording and classy design.
After I read the plan, I met with the business owner. I told her (literally) that if I was given this binder and told that it was what I needed to do to grow my business, that I would go home and quit. Why? Simply because there was no way that her organization could implement the plan. Were there solid ideas and creative? Absolutely. Did it take into consideration the company's size, resources and sales processes? Absolutely not. It had no framework for the business owner to integrate the plan elements into the existing organization, its processes and culture. An organization (like all businesses) that has limits of time, money, people and energy to expend on marketing.
The key to effective marketing plan development is understanding the current situation, how sales are made, what the organization culture is, what the current brand and selling proposition are. I began coaching business owners because I have found it to be the way to make the planning and implementation happen in a way that works for that particular organization.
Otherwise, the plan binder gets stuck on a shelf and the business goes on as usual...maybe using one or two ideas from the plan. That's why I use the Simple Marketing Plan and why I developed the Marketing Coach Curriculum...because a plan isn't worth salt if it doesn't get implemented and implementation is about processes and people, not planning binders.
SLE
Friday, April 18, 2008
Marketing and Sales: The Default Setting
In a number of recent conversations about the marketing coach program, the material on the sales and marketing process seemed of particular interest. It came up in a conversation with Glenn Flickinger of The Alternative Board (www.tab-pghsouth.com). He related how the coaching his organization does reveals many small to midsize companies (even very successful ones) don't have a good grasp of their sales process.
That was not news to me. I find that many organizations simply use the "Default Setting" when it comes to their sales and marketing process. Sales happen...somehow. A business owner might tell me, "All our sales come from referrals." or "We do some advertising, some direct mail and have a couple sales people...but I'm not sure what is really making the sales."
Answering the process question is a key first step to successfully growing sales. If an owner or manager doesn't understand how their sales pipeline works, it is then impossible to efficiently build out the marketing and sales plan that will exploit what is working and bring in more sales.
That's why mapping the marketing and sales process is a key component of the marketing coach program. Sometimes it is simple and straightforward...sometimes it takes some work to uncover. Yet only through laying the groundwork by understanding what is happening now can we uncover where the sales pipeline is working, where it is slow, and where it is clogged!
How to exploit what is working and what to do about those clogs are subjects for a future post...don't worry, no plumbers involved.
SLE
That was not news to me. I find that many organizations simply use the "Default Setting" when it comes to their sales and marketing process. Sales happen...somehow. A business owner might tell me, "All our sales come from referrals." or "We do some advertising, some direct mail and have a couple sales people...but I'm not sure what is really making the sales."
Answering the process question is a key first step to successfully growing sales. If an owner or manager doesn't understand how their sales pipeline works, it is then impossible to efficiently build out the marketing and sales plan that will exploit what is working and bring in more sales.
That's why mapping the marketing and sales process is a key component of the marketing coach program. Sometimes it is simple and straightforward...sometimes it takes some work to uncover. Yet only through laying the groundwork by understanding what is happening now can we uncover where the sales pipeline is working, where it is slow, and where it is clogged!
How to exploit what is working and what to do about those clogs are subjects for a future post...don't worry, no plumbers involved.
SLE
Thursday, April 3, 2008
Consistency
It's tax time so here's a marketing story involving an accountant. Yes, accountants can be great marketers, too.
I met with my accountant regarding my taxes and he told me about a prospect, now client, who he met eight years ago during a round of prospecting. Nothing came of that prospect call the day (or the year) it was made, but eight years later, the prospect called and hired him as his business accountant.
Similar things have happened to me, but not eight years later! It reminds me of the Woody Allen quote, "Eighty percent of success is showing up." My accountant "showed up" and was memorable enough that the prospect kept his information and contacted him when he needed to find a new accountant. That's not the full story of course, over the eight years, my friend did stop in and visit the prospect...but not on another sales call, but as a customer of the business.
So our conclusion might be that my accountant is a marketing genius (and who am I to dispute it!), but rather than focus on him, let's focus on all the other accountants...
How many accountants are within a 5 or 10 mile radius of this business? How many opportunities did those other accountants have over eight years to win the mind of this business owner? How many accountants are also customers of this business?
Perhaps the business owner received hundreds or thousands or solicitations. My bet is that he did not. If not, why not?
First, most organizations (accountant or otherwise) don't do a very good job of consistently delivering their marketing message. They are either short-sighted, focused only on those with immediate needs, or they are inconsistent, doing marketing when they have the time. When they do have the time, the message is often different each time.
The result is that prospects miss the message, are confused by varying messages or don't receive the message enough times to remember it. Then organizations may decide, "marketing doesn't work for my type of business", or, they start chasing the latest fads in marketing or advertising because they have some bit of hope that the new method will work. Or they just complain that their messages are never in front of prospects at the right time.
The point is simple: consistency gets results. By delivering a compelling message consistently, you can gain the mindshare needed to become memorable. It is almost impossible to time your one mailing, email, ad or sales call to "be there" just when the prospect is ready to buy.
Rather, success comes from being like my accountant: consistently delivering the message and becoming memorable to the prospect. Then you can "be there" when the prospect starts the buying process...or maybe even help the prospect feel the need to buy. We'll discuss that in another post sometime.
SLE
I met with my accountant regarding my taxes and he told me about a prospect, now client, who he met eight years ago during a round of prospecting. Nothing came of that prospect call the day (or the year) it was made, but eight years later, the prospect called and hired him as his business accountant.
Similar things have happened to me, but not eight years later! It reminds me of the Woody Allen quote, "Eighty percent of success is showing up." My accountant "showed up" and was memorable enough that the prospect kept his information and contacted him when he needed to find a new accountant. That's not the full story of course, over the eight years, my friend did stop in and visit the prospect...but not on another sales call, but as a customer of the business.
So our conclusion might be that my accountant is a marketing genius (and who am I to dispute it!), but rather than focus on him, let's focus on all the other accountants...
How many accountants are within a 5 or 10 mile radius of this business? How many opportunities did those other accountants have over eight years to win the mind of this business owner? How many accountants are also customers of this business?
Perhaps the business owner received hundreds or thousands or solicitations. My bet is that he did not. If not, why not?
First, most organizations (accountant or otherwise) don't do a very good job of consistently delivering their marketing message. They are either short-sighted, focused only on those with immediate needs, or they are inconsistent, doing marketing when they have the time. When they do have the time, the message is often different each time.
The result is that prospects miss the message, are confused by varying messages or don't receive the message enough times to remember it. Then organizations may decide, "marketing doesn't work for my type of business", or, they start chasing the latest fads in marketing or advertising because they have some bit of hope that the new method will work. Or they just complain that their messages are never in front of prospects at the right time.
The point is simple: consistency gets results. By delivering a compelling message consistently, you can gain the mindshare needed to become memorable. It is almost impossible to time your one mailing, email, ad or sales call to "be there" just when the prospect is ready to buy.
Rather, success comes from being like my accountant: consistently delivering the message and becoming memorable to the prospect. Then you can "be there" when the prospect starts the buying process...or maybe even help the prospect feel the need to buy. We'll discuss that in another post sometime.
SLE
Thursday, March 27, 2008
Welcome!
The purpose of this blog is simple...to help disseminate top notch marketing advice and tips, and to permit us to have a conversation about the issues that face business owners and executives trying to grow their business.
The subject is marketing and how to creating a winning and sustainable process for marketing your business.
First tip: at the bedrock of 'genius marketing' is the fact that anyone can do it. No matter the industry, business type, or personality of the company. It takes knowing who you are/what your business is, building a plan and then making the plan into an actionable process.
Assess, create, test, reassess. That's the heart of genius marketing.
We'll discuss fads, trends and high profile stuff like Super Bowl ads. Still, for most businesses genius marketing will come from learning and working a simple, consistent process.
SLE
The purpose of this blog is simple...to help disseminate top notch marketing advice and tips, and to permit us to have a conversation about the issues that face business owners and executives trying to grow their business.
The subject is marketing and how to creating a winning and sustainable process for marketing your business.
First tip: at the bedrock of 'genius marketing' is the fact that anyone can do it. No matter the industry, business type, or personality of the company. It takes knowing who you are/what your business is, building a plan and then making the plan into an actionable process.
Assess, create, test, reassess. That's the heart of genius marketing.
We'll discuss fads, trends and high profile stuff like Super Bowl ads. Still, for most businesses genius marketing will come from learning and working a simple, consistent process.
SLE
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