Monday, February 15, 2010
Be Careful With Your Sales Approach
As I completed the paperwork, it became evident that this was not simply a tour of the hotel, it was much more involved. Once I signed the document to receive the benefits, my suspicions were confirmed, she subtly questioned me if I was familiar with timeshare--strike one. Unknowingly, I had signed myself, my wife and four kids in Hawaii up for a two-hour presentation regarding timeshare ownership of this supposed new "hotel".
Reluctantly, my wife and I, along with the four kiddos attended the presentation. Initially we were directed to the free lunch. Much to our chagrin, once we presented our tickets for the complimentary lunch, our server immediately lost interest in providing any type of service close to deserving a tip. Strike two!
We finally met our sales presenter for our two-hour presentation. She began the presentation with the disclosure that if we were uncomfortable with the proposal, we can say no, and she will respect that and end the presentation. Well, that was not the case. Repeatedly I tried to convey that this was not something for our family, but unfortunately she continued ignoring her promise at the beginning of her diatribe. At one point, she even involved her "finance" manager in the discussion to somehow strike interest. We were now 2.5 hours into our meeting and the children were beginning to grow restless. Strike three!!!!
A few lessons here that we need to tease out. First, be sure that you are not making any false or outrageous claims in your marketing. Ensure that your marketing communication is not hyper-inflated. Chances are that you will not be able to meet the expectations of your prospect or customer if your message is not reflective of your capabilities. In the end, this would mean that your customers will never come back.
Second, if you are going to offer any benefits like a free lunch, be aware that simply giving it away at no cost is not always perceived as a benefit, especially when it is mediocre at best. Select your add-ons carefully.
Lastly, stick to your word. If you make promises to your prospect or customer, it is essential that you respect and honor that promise. If not, the likelihood is that they will not return or refer you to a friend or colleague. Remember Net Promoter Score?
Thursday, February 4, 2010
Expected vs. Amazing
So can your business do this? Yes, absolutely. Instill in your customers that they are the most important thing in the world when it comes to serving them. I was recently on the phone with customer service from an aviation insurance company. My last name is not the easiest thing to pronounce, but the customer service representative asked me how to pronounce my last name to prevent future representatives from pronouncing it incorrectly. For some, this may not be a big deal, but after hearing my surname butchered over and over again numerous times, I was relieved to think that on my next call they will not pause after saying my first name and guess which version of my name they were going to painfully speak.
Here are two crucial things to remember about your customers:
• Name (if possible)
• Reason for their first visit (probably more important that the name)
Keep in mind that there are endless varieties of technological applications out there that companies integrate within their system to remember you. Consider the airline reservation interface. Once you create an account, you can return without doing much work as the system has remembered your preferences from your last visit. Although this is very effective, it is somewhat regarded as "automated" and certainly does not have the impact of a personal experience.
Keep your customers amazed and keep 'em coming back.
Friday, January 29, 2010
Want to Conduct Surveys?
Survey research is much more than simply asking someone a few questions. It’s a multiple-step process with a clearly defined protocol at each step. In order to get reliable results from your survey research, you must be able to plan the survey research project, collect data, access and manage the data easily, as well as report relevant results. And for your survey research project to be a success, you need to share your results with the decision-makers who can act upon them.
Areas that benefit from survey research
• Satisfaction measurements
• Customer/employee profile census
• Customer retention
• Complaint tracking
• Product features desired
• Medical errors
• Patient outcomes
• Viewer/readership interests
• Assess program effectiveness
• Customer acquisition
Popular questions that survey research attempts to answer
• What is most important to customers, employees or patients?
• What do people want or need in terms of programs, products or services?
• Who is our customer?
• Do consumers cluster into groups?
• How can we compete in the market most effectively?
• Are we providing value to our members or customers?
• What areas need improvement?
• What drives satisfaction or sales for customers
• How can we improve our programs, materials, products or services?
• What are the brand’s perceived strengths or weaknesses?
• Where should resources be directed?
The seven stages of survey research
Survey research can be divided into seven steps. In order to be successful, survey research needs to be implemented well at every step. Problems at any step can lead to incorrect results.
• Step 1: Planning and survey design
• Step 2: Data collection
• Step 3: Data access
• Step 4: Data preparation and management
• Step 5: Data analysis
• Step 6: Reporting
• Step 7: Deployment
Thursday, January 28, 2010
Market Share vs. Market Growth
There are many speculations on what is going to happen economically in 2010. Most are very optimistic in their outlook, while others are still somewhat very conservative when predicting on how 2010 will unravel. Regardless of the economic prophecies, however, a majority of businesses will logically be planning for growth. The details of that growth can be planned effectively if you focus on the immediate opportunity of growing market share versus relying on market growth.
While your planning should integrate both, an approach that increases market share can facilitate expansion that is more tangible than market growth. Developing a plan that addresses market share permits you to evaluate the existing market and concretely implement plans that challenge the competition. When developing strategies to increase market share, you must have a good analysis of your competition. Outline their strengths and weaknesses in relation to their strategy but as well as in relation to their product or services. This analysis will provide you a landscape on how to construct a more effective approach on how you can compare your business or product to the competition.
Lastly, to optimize your activities in increasing market share, you can utilize a tool that evaluates your value chain. The value chain for your market is the series of people that actually experience your product from your company to the ultimate customer. For example, if you are a wholesaler, you may be selling to a buyer, retailer, and then the end-user. Once you establish your value chain, determine where in the chain your business is currently focusing on, and evaluate if this can be optimized or if a new marketing campaign that focuses on a different section of the chain. This exercise will help you to maximize your marketing efforts by targeting a specific segment within your market.
Monday, January 25, 2010
Why Should You Be Interested In Social Networks?
Thursday, January 21, 2010
Do you have Promoters?
The NPS is a customer loyalty metric developed in 2003 by Fred Reichheld. Today, NPS is utilized by numerous large corporations to gauge the success of their customer-centric initiatives that contribute growth to their business. The basic concept is to create more “Promoters” and fewer “Detractors” of your business. The NPS is simple and straight forward, thus making it far easier for a business to understand and implement changes than any of the other business metrics that are being utilized today.
The question, “How likely is it that you would recommend our company to a friend or colleague?” is answered by the customer on a 0-10 rating scale. And based on their responses, the customers are then categorized into three groups: Promoters (9-10), Passives (7-8), and Detractors (0-6). The final step is to subtract the percentage of Detractors from the Promoters, which yields your NPS. When conducting the survey, the customers are encouraged to provide an explanation for their rating. These can then be utilized by your business to develop a plan to improve any existing weaknesses.
An NPS of 75% is quite high, most businesses will be in the region of 20-40%. If you want to improve your NPS, evaluate the Detractor’s reasons for their rating and categorize those into projects that you can address. Chances are that the reasons can be grouped into themes, making it easier for you to develop and implement improvements.
Business Recovery: Are You Planning for it in 2010?
Growth
I have repeatedly said in my previous newsletters that focus is crucial. And here it is no different, focus on some key growth activities. Here are some initiatives that companies are employing for growth:
• Develop/launch new products
• Strengthen brands
• Develop new markets
• Improve market share
Opportunities
Revisit opportunities you have outlined in the past as contributing to your business. Likelihood is that you never finished it. Evaluate the opportunity and determine if it is something that you should contribute to any of the above objectives. According to a research study, only 4% of companies address or follow through with any strategic planning.
Upturn in the Market
The above objectives will help you through the upturn. By that I mean, when the economy recovers and we produce more jobs. The reality is that consumers will behave very differently when it gets better. Consumers will be more price sensitive and reluctant to purchase. So competition will be fierce.
Act Now
There’s a time to plan, and there is a time for execution. Without the latter, planning is nothing. Look at all your options to improve your services to your customers and your employees today!
So ensure as you plan that your initiatives are actionable and measurable. Make them simple.
Thursday, January 14, 2010
Easy Wins

After you read this make sure that you are on your computer and implementing some of the suggestions below. There are many free and affordable options on the world-wide-web today to get your business listed and be seen by web surfers. These easy wins will help you to get going for 2010.
LinkedIn If not already, go ahead and register yourself for a LinkedIn account. After establishing an account, you can now start a LinkedIn company profile. You can select MORE on the header to add a company.
Facebook Like LinkedIn, if don’t already have a Facebook account, establish one now. A Fan page for your business must be linked to a personal page, so without a personal account, you will not be able to initiate a Fan page.
Google Business You can register your business on Google and be listed with a location and map. You have probably seen it, sometimes when you search for a business, Google also provides you the physical location of the business, along with a phone number and website. Follow this link to get started on listing your business.
Yelp Yelp probably one of the more popular listing sites on the internet. Along with being able to list your business, Yelp also has the capability of providing its visitors a means to leave feedback or reviews. Akin to Yellowpages, Yelp is very powerful and helps your business to get that added visibility.
Cost to Acquire Customer
There are many things that one must consider when setting up their planning for 2010; business objectives/goals, marketing, sales goals, etc. And if you are an existing business with a good documented financial history, chances are you can perform a customer acquisition analysis. This simple, yet insightful analysis provides you with a means to gauge the success of each marketing and sales activities in relation the number of acquired customers. For those businesses that have never measured their marketing activities this is a simple one to implement and utilize.Since we are in the age of electronic marketing, let’s take a look at an example that involves a website initiative.
Monthly visitors to website: 2000
Monthly promotion costs: $2000
Monthly maintenance costs: $250
Let’s assume that this business has a 20% net profit margin, and that the services or products cost $10, so that is a $2 profit to the business. With the above monthly costs of $2250, the business will have to convert 1125 of the visitors to the website to break even (cost/margin). And if the business wanted to look at the cost to lead the 2000 visitors to their website (acquisition cost), they can take the total monthly costs, $2000 + $250, and divide by the number of visitors to the site, the customer acquisition cost (CAC) is $1.12 per customer.
As you can see, this approach allows you to determine how you can evaluate your next marketing initiatives and help you to make smarter decisions.
Wednesday, January 6, 2010
Trader Joe’s Favorite-ism
As consumers, we all have our “favorites”. For us favorite-ing something is a fairly easy process. Often we choose something as our favorite because it is a trustworthy and a consistent source for an indulgence within our interest. Our complex behavior of selecting a favorite is a concept that many marketer’s are trying to sufficiently understand and leverage.
Trader Joe’s certainly has made an effort in trying to be favorite-d by their shoppers. There are marks of marketing wisdom throughout their store that perhaps may have been a stroke of marketing genius or simply an idea concocted by an employee. Regardless, Trader Joe’s has developed a killer experience for their shoppers, that it makes it hard not to favorite them.
Price
One of Trader Joe’s strengths is its key supplier partnerships. Their careful selection of suppliers has provided them not only the ability to establish crucial price points in a commoditized market segment, but as well offer its customers a comparable to superior product against the competition.
Unique
Another, but somewhat subtle strength of Trader Joe’s is its product offering. Yeah, they don’t carry the traditional brand names, but let me tell you that within a small facility, you can eat your way around the world. There are delicacies that are geared for the adventurous but also a complete selection of foods that can satisfy the timid eater. And while the perception of unique foods require additional preparation time, Trader Joe’s filled this gap with easy to prepare options for those who are on the go (and who isn’t on the go anymore).
Kid Friendly
We all know that shopping with children is at times somewhat difficult. Trader Joe’s has made an effort to alleviate some of the stress from the parents by giving them something simple to do while in the store. In each Trader Joe’s branch, a couple of items will be placed somewhere in the store for kids to find--I have seen stuffed toy lobsters, chickens, and polar bears. Once they locate the hidden characters, they can claim a prize at checkout.
Art
There are many hand-written signs in Trader Joe’s, and you can tell that they have taken the time to give it character. From caricatures to stylish alpha-numeric art, Trader Joe’s has identified that an appealing presentation of their products is crucial to inviting the return of new and existing customers.
With your business, try to think of ways that you can differentiate or improve your services to them so that they appreciate and eventually "favorite" the experience when dealing with your company.
Overview: Marketing Activities Tool

As small-business owners, you have limited time and budget, so that means your marketing activities must be filtered for its level of impact and ease-of-implementation to ensure optimal effectiveness.
The Marketing Activities tool from Apogee Marketing Partners is an easy way to evaluate and prioritize your marketing activities. With marketing activities, I like to advise my clients to conduct a brainstorming session for possible activities. Don’t be too concerned about costs at this point, just begin listing items that are in alignment with your overall business objectives and goals. Once you complete the list, now you can use the tool.
In the Marketing Activities tool, enter all of the relevant ideas that you generated during the brainstorming session. Order of listing does not matter. And for each entry, indicate whether this is a NEW, CONTINUE, or DROPPED activity under Status. The reason for including DROPPED is the next time you utilize this tool, you will have a historical account of what you have done in the past. Next enter, the primary Metric that you will utilize to measure progress or success. As you can see, the metric is not always dollars or sales. In this case, you need to be more specific, as it is difficult, in some cases, to determine the true impact of one activity to overall sales.
If this is a CONTINUE marketing activity, an estimated Current Impact should be entered. Keep in mind that your impact will be based on the primary metric you specified in the Metric cell, meaning if the metric is LEADS, you can then estimate the % impact of this activity on lead generation. The same concept applies with Target Impact. Under the Impact column, select from the drop down menu Very High, High, Medium, or Low. Note that this is subjective and in some cases you may feel that the impact of one activity may not be shared by another marketer, so try to be objective in how you rank your impact. Next, select the level of difficulty in implementing the activity under Implementation. When selecting, think of things like duration of implementation, resources required other than you, contracts, etc. How difficult or how easy will it be to get this activity launched?
When you complete these sections, the Category column will indicate one of four of the following: Easy Wins, Focus, Long Term, or Evaluate. These will coincide with the chart provided below the table.
Easy Wins If any of your activities fall under this category, it is then considered a low impact and easy to implement activity. In some cases, you may want to employ these Easy Wins for your marketing as they will in most cases have low cost and will not require a whole team of marketers to implement. Choose wisely, however, to ensure that you are initiating marketing activities that are aligned with your business objectives and goals. These activities will reside on the lower-right quadrant of the chart.
Focus These are activities that have been identified to provide the highest impact along with an easier implementation process. Focusing on these activities will help you to optimize the highest return to your business. These are your marketing prizefighters. Focus activities will reside on the upper-right quadrant of the chart.
Long-Term In the upper-left quadrant, the Long-Term category simply implies that these activities are not going to have immediate impact on your business. Rather, they are activities that will the platform for growth in the future. These range from public relations initiatives, surveys, white papers, case-studies, etc.
Evaluate Everywhere on the chart that is not occupied by the above. When an activity is categorized as Evaluate, it is considered to be an initiative that does not return to the business sufficiently to support and invest its development and implementation. The key objective when an item is considered Evaluate is to ensure that it is re-examined for its role within the overall business objectives. Don’t discard Evaluates, rather put them on the backburner for future consideration as your ability to develop and implement may change, both from a technology and resource standpoint.
Download Marketing Activities Tool
Saturday, December 26, 2009
Friday, December 25, 2009
Tuesday, December 22, 2009
Don't Get Carried Away on Social-Media
There is a lot of hype out there on how social-media can help your business grow. While this is true in some respects, it is very important to realize the effort required to maintain a social-media campaign is quite extensive. The appeal of social media is quite enticing to many businesses, and for good reasons. Social media is the only medium in the electronic world that provides the exposure that some advertisement mediums can never promise. Moreover, social media is a tool that you can initiate instantly with minimal costs. So what’s not to like? While social media can provide a great marketing platform for a business, the demand of maintaining it for a reasonable return is not negligible. The most common misconception about a social media campaign is that it will operate with minimal involvement from internal resources of your business. So as you consider the social media as a tool to promote your business keep the following in mind: - Dabble Most of us probably have an account with one of the social-networking sites, but if you have limited exposure go ahead and explore. This will at least provide you with an idea of what is involved.
- Develop a social-media plan Don’t just jump straight in, but DO evaluate and develop a plan that captures your goals and objectives with a timeline.
- Who’s in charge? Are you going to directly manage the social media efforts (ie tweeting, responding to Facebook fans, blogging, etc.). To be effective, you must spend considerable time on all the mediums that you select, so it is crucial that you have someone allocated to be the social media manager. Otherwise, like anything else, if it is not assigned, it will fall through the cracks.
- Topics Establish your topics for the at least the next month. You can maintain the same topic over a period of one day to one week, but it is essential that you change it up. Keep in mind that your fans or followers are looking for something interesting that can impact their day.
- Measure Think of a few ways that you can measure success. This can be the number of fans you have on Facebook, level of interaction on your wall page, followers on Twitter, conversion to purchase from any of the above, etc.
- Measure again Now that you have a lot of followers, how many are buying, what revenue if any is being generated from your efforts on social media, do you need to make an adjustment. Or maybe you don’t have a lot of followers, what do you do next?
It's Not an Overnight Thang
We are creatures of immediacy. Our world today has been intricately developed to cater to our incessant desires of “NOW MATTERS”! The less time we spend somewhere and the quicker we can receive the service or product, the more satisfied we become. UPS and FedEx can deliver a package practically to any point in the world overnight. We can purchase almost anything we want without ever taking a step outside of our home; scratch that, you can purchase anything you want in the world, anywhere you are in the world, as long as you have an internet connection or a smart-phone. When using your credit card, you no longer have to sign for some purchases. The fact is, we are evolving with an infrastructure that serves and conditions our expectation of instantaneous return. While this is rewarding as consumers, this concept and expectation becomes problematic for business owners.For business owners or entrepreneurs this concept of immediacy is in direct conflict with the reality of growing and nurturing a model that realizes return over a period of time, which may not be aligned with our conditioned expectations. This is problematic within a majority of circumstances in the business world, and we have to ensure that our strategic plan does not integrate objectives and goals that are unrealistic in relation to the timeline.
At the highest level, your planning should consist of short and long-term objectives and goals. This categorization should provide a means in simplifying your expectations for your tactical initiatives. Furthermore, it provides you the ruler to measure your progress and helps to calibrate your expectations and minimize the tendency to react to situations which were previously perceived as a threat.
Within each short and long-term objective, ensure that each is practical and achievable. With marketing activities, it is essential for a small-business to consider budget and resources. A simple evaluation of activities in regards to impact and ease-of-implementation is beneficial, as it provides a process to prioritize your marketing. Practical and achievable, this will set the tone of your expectations.
Change: How Will You Get Noticed in 2010?
My wife considers me “Metrosexual”; I won’t define it but you can look it up at Wikipedia. I am no longer as concerned about my appearance as I used to be(okay maybe a little), primarily because I live in The changes I made were to wear a scarf more regularly, a hat that is not of the baseball variety (duckbill), ankle boots that would not be considered formal in metropolitan cities, and a hairdo that is not my typical style. I, of course, wore these at varying times in different combinations, and never all at one time, so as to minimize the “make-over” impression. Needless to say the reactions were plentiful.
The most interesting observation I made were the repeated comments to the changes. Even after two to three weeks into the change, my circle of family, friends, and acquaintances continued to comment. The hat of course was probably the most popular, garnering the most comments, while my wearing the scarf and changing my hairdo were not far behind. The shoes certainly made an impression but were not nearly as successful in soliciting praises as the previous three. I could go into detail into each one, but the take-away from the story is that change gets attention. No matter how minor the change, your audience takes notice.
Integrate an element of change into your business in 2010 and get noticed.
Tuesday, December 15, 2009
12 Tips for Social Media Marketing
Social networking is an investment for the future. Sites such as Twitter and FaceBook could be a nonprofit's dream market - millions of users engaging in activities and all interconnected.. But just setting up shop and collecting "friends" will not necessarily result in donors and supporters.1. Pick the social network that is right for you. Don't just pick sites based on the fact that everyone is on them. Pick a site if it makes sense for your organizations. And if you have time to manage the interactions. It may pay to start small, with one or two social networks, rather than trying to take the entire virtual world on at once.
2. Find an 'expert' to help you.
3. Extend your reach.
4. Prepare for negative feedback.
5. Search for similar groups.
6. First impressions are everything.
7. Be edgy! And post your most viral content.
8. Find out which of your clients are already on social networks.
9. Communicate on a regular basis.
10. Get staff involved in making your social networking effort a success.
11. Engage your social network supporters.
Be specific when you do ask your friends to do something for your organization. And always let people know what happened at an event or with a campaign even if they did not participate. They might get involved the next time.
12. Social networking is an investment in the future.
For more information on Social Networking , please contact Apogee Marketing Partners www.apogeemarketingpartners.com for more help. info@apogeemarketingpartners.com
Manage a To-Do List
Do you work with a To-Do list? Whether you realize it or not, most of us work with some form of a To-Do list to manage our business. However, we probably don’t manage this list enough strategy to ensure focus.
I admit that I have fallen in the trap of the “busy-ness” of managing life, but it is very important that as a small-business owner that our efforts are focused. And this can easily start with our To-Do lists that we utilize to check things off. Some of us may use these ritually, others not so much, in either case, here are some helpful ways to contain that To-Do list.
Define Strategy and Objectives for 2010
After all, we can’t begin to put together a meaningful list of To-Do’s if we don’t have a goal for 2010. Keep it simple if you have to, but ensure that your business is operating under a strategy to maintain that focus, otherwise, you will find yourself wandering for most of the year and it will yield only a series of frustrations.
To-Do List
Let this list be a product of your strategy and objectives planning for 2010. However, be very careful and ensure that this list is distilled to only about 3-4 main To-Do’s. If you have any more than this then it is crucial that you evaluate each and ensure that each item on your list contributes greatly to the advancement of your objectives. This is where focus is crucial.
Start a To-Don’t List
Your list will likely start to be longer than you expected. And that’s certainly okay, but go over it one more time with the idea that there are such things as a To-Don’t list. Try identifying a few of these off your list and determine how each one can qualify for your To-Don’t list. Chances are you have a lot of ideas for 2010, however, these ideas need to be closely reviewed for their applicability in achieving your goals. Notice a pattern here? Your goals and objectives are paramount, only list items in your To-Do list that pushes this!
Prune Your List
Review your list every time you put one together! Continue with the concept of a To-Don’t list. They do not necessarily need to be eliminated but simply categorized as less urgent items. This behavior of prioritization will immensely help your day to day activities within your business.
Marketing Lessons from Susan Boyle Stardom
If you have not seen it yet, go to YouTube.com and find the Susan Boyle video. This is the very first time that she appeared on the
I have recently been doing a little work on uncovering her journey since that evening with
Why I am talking about Susan Boyle? First, what an inspirational story! As we focus on planning for 2010 look back to the initial phase of your business. Recall the inspiration that fueled your motivation. I am sure that for the most of us 2009 was not a stellar year and as a result, it probably emptied most of our motivational tank. Incorporate some key objectives that are achievable and will provide you the appropriate runway in setting the tone for a great 2010.
Second, focus on your strengths. Susan Boyle had one-key strength, her voice. And she capitalized on that in one evening in front of her target audience. For 2010, focus on one or two strengths and integrate it into your planning. Create a marketing communications plan around it and launch it to your market.
