Marketing, recessions and budgets….oh my!

February 18, 2008

Recession Boy, there’s a lot of talk about the R word, isn’t there?  And I think business owners/leaders are beginning to get a little jittery.  That’s what prompted me to remind all of you that there is significant danger in being reactionary and lowering your prices.

Jonathan Munk, over at Manizesto, recently interviewed Beth Goldstein, author of Ultimate Small Business Marketing Toolkit, on this very topic.  Her answers are worth your time, if nothing else…to get you thinking.

You might also glean a little insight from reading what Brent Allen’s take is on the topic.  Not enough?  How about Tony D. Baker’s extensive post on ways to safeguard your business during a recession.

And for those of you who are about to tell me we’re not heading towards a recession…remember, perception is reality.  If consumers or business owners believe that’s where we are heading, the reality doesn’t matter all that much. 

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What’s your Facebook strategy?

February 15, 2008

Picture_1 I’ve had Jason Alba and Jesse Stay’s new e-book I’m on Facebook – Now What?? for a few weeks.  I’d planned on reviewing it sooner, but I found it to be incredibly slow reading. 

Why?

Because every few pages, something they wrote had me going back to my Facebook account and adding, subtracting or adjusting something. 

Jason and Jesse have created a very clear, concise guide to the many ways you can enhance your professional life with Facebook.  There are plenty of screen shots and examples to illustrate their points.  One of my favorite features is that each chapter ends with a little "To Do" list that helps readers apply what they just learned.

As you would imagine, the book is structured to take a novice from start to finish.  So if you’re already a seasoned Facebook user, you can skip the first chapter or two.  The meatiest part of the book are the center chapters but they are nicely bookended with the intro to Facebook on the front and the etiquette and glossary on the back.

Here’s how the book is laid out:

Introduction
Chapter 1: Getting Started
Chapter 2: Getting Involved
Chapter 3: Commonly Asked Questions
Chapter 4: Facebook Applications
Chapter 5: Privacy
Chapter 6: Your Facebook Strategy
Chapter 7: Facebook for Business(es)
Chapter 8: Facebook No-No’s
Chapter 9: Additional Resources
Conclusion
Appendix A: Non-storable Data

If you’re looking for a lot of background on Facebook or big picture statistics — this isn’t the book for you.  But if you want to dig into this social media tool and really make it work for you and your business — it’s well worth the read. 

You can buy it straight from their publishers.  They also (of course) have a blog on the topic.

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Surprise!

February 14, 2008

Gaspedal There are good surprises and then there are bad surprises.

On Saturday evening, my daughter and I were driving towards home when all of a sudden, my foot could not find the gas pedal.  It was gone.  I stomped and wiggled my foot all over the floor of my truck….but no gas pedal. 

We coasted over into a left turn lane, I threw the truck in park and hopped out.  My gas pedal was still there…but just sitting limply on the floor.

We weren’t going anywhere.  Bad surprise.

Long story short…tow truck. Repair place. Rental car.  Snapped cable from pedal to engine.  Empty wallet. 

When I picked up the truck on Monday night, I noticed that something was different.  The seat belt on my side had developed a snag which turned into a vertical tear, along the seat belt.  Which meant that it caught on the seat belt latch, every time I buckled up.  It was annoying.

But, while the repair place had my truck and was replacing the gas pedal cable, they had "re-strung" my seat belt, so the tear didn’t catch any more.  They didn’t charge me for it.  They didn’t even mention they’d done it.

Good surprise.

Suddenly, I felt a whole lot better about the empty wallet.  They’d done something special for me.  Something they didn’t have to do.  That’s the beauty of surprises…they make us feel noticed and valued.

How often do you do that for your clients?  Do a little something extra?  Put a note in a bill saying that you aren’t charging them for something,  send dessert over to their table, let the ride run a wee bit longer?

Toby Bloomberg e-mailed me a couple days ago and asked me for a tip on building great client relationships.  I said…"surprise them…give them a little more than what they expected or paid for."

Good surprises, like my seat belt are great fodder for passionate, genuine word of mouth.  Give your clients a reason to tell stories about you.

By the way….Toby asked many a marketer this question.  She’s compiled all the answers for us and there’s plenty to think about. Check it out.

Related posts:

Are you boring your customers?
Surprise! (Marketing lesson from Walt)
Turn things upside down!

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What is an ooVoo?

February 13, 2008

Drewgavincomposite1 One of the best things about today’s technology is that the world is a much smaller place.  With free tools like skype and even the taken for granted e-mail, we can stay connected to the world.

ooVoo takes that to a whole new level.  Video conferencing with up to six people.  All you need is a webcam, a headset with a mic and the free download of ooVoo (both mac and PC).

To create some buzz, ooVoo is doing a pretty cool thing.  MyooVoo Day.  (Check out Mack’s comments on the event.)

For this week, they’ve lined up some marketing and blogging gurus and each of those folks is hosting a 1-2 hour chat with people just like you (the complete list here).  Big names on this list…so check it out!

Best of all, for each session being held — they are donating $1,500 to the Frozen Pea Fund in support of Susan Reynolds and breast cancer research.

Okay….so we’ve got chatting with smart people about marketing.  We’ve got supporting Susan and fighting breast cancer.  We’ve got cool and FREE technology.  I’m so in!

I e-mailed my Age of Conversation cohort, Gavin Heaton, and said….who cares if we’re not famous or even that smart like the rest of the hosts — let’s see if we can host a session! Fortunately the guys at crayon (the genius behind the campaign) lowered their standards and let us in.

What are you doing Saturday the 16th (or Sunday the 17th if you’re in Gavin’s neck of the woods) If you think spending 15 minutes with Gavin and I would be fun….sign up here.  4 pm EST.  8 am Aussie time.  Compare your timezone here.

Thanks to my friends Scott Monty and Greg Verdino for bringing this opportunity to all of us.

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Two types of tagline – great and “other”

February 11, 2008

We’ve certainly talked taglines before.  When they’re right — they can be an incredible tool for a business.  Sadly, they’re not usually right.

Kevin Horne (from whom I stole this post’s headline) wrote about a British paper having some fun with their readers, asking them to come up with a tagline that describes what it’s like to be British.  My favorite…."at least we’re not French."  Good to see that geographic rivalries exist outside of the states as well.

Kevin goes on to list 3 taglines that were dead on.  Ironically, none of three are being used today.  They were great and replaced with pablum.  It happens way too often.

Let me add to that list with an example that is enough to make a marketer cry.  Michelin Tire’s tagline "because so much is riding on your tires" was brilliant.  It spoke to the buyer’s deepest emotion and fear.

Michelin

And then, of course…they changed it.  Ready for the absolutely remarkable tagline that would justify walking away from "so much is riding on it?"

A better way forward.

Yup….you read it correct.  I often wonder how someone presented a particularly bad idea in such a compelling way that everyone around the table bought it.  This is one of those instances.

"Hey….let’s trash the tagline that differentiated us, identified a clear advantage, triggered the buyer’s deepest emotions and has incredible mind share already with something that says absolutely nothing and ANY tire company could use."

No wonder they changed it.

Why do you think most companies don’t really understand taglines?

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How do you create happiness?

February 10, 2008

Happyteen I’ve been thinking a lot about happiness over the past few months.  What does it really look like?  Or feel like?  And how elusive is it really?  Is it a condition we have to find ourselves in thanks to circumstance or someone else or perhaps is it a condition we have to create? 

Ironically, about a month ago, Lewis Green challenged some of us to write a post about happiness.  He said:

Your assignment, should you choose to accept it, is to write one post about happiness–what it means to you, your customers or your fellow workers in the context of business or to recommend a way or two people can be happier in their own lives. In either place–business or personal– how can we together make the world a better place to live and or work, while growing prosperity in however you choose to define prosperous?

You know how when you’re thinking about buying a certain kind of car, you see it on the road everywhere?  Of course, it’s not that there are suddenly more of them on the road, it’s just that you’re tuned into them.

As I pondered all things happiness, I noticed how many unhappy people there are.  Complaining, moping, blaming others, angry, road raging people.  Yuck.  All of them shaking their proverbial fist at someone or something — that which stole their happiness.

But then, my daughter caught my attention.  Despite her teenage status, she’s almost always happy.  And when she’s not, she’s able to right herself pretty quickly.  With Lewis’ challenge in the back of my head, I started to actively observe how she accomplished that.

With full acknowledgment that she’s developed this "tricks" and I am just the faithful reporter….here’s my contribution to Lewis’ efforts and the on-going discussion of happiness.

Have an escape plan:  When the day or someone has gotten the better of you — give yourself a break.  Peel away and sooth your soul with whatever helps you find balance.  Have a space that’s all yours….no one will interrupt or intrude.  Whether it’s your walk in closet, your car or an entire house, everyone needs their own space.

Crank the music:  Bach, Moody Blues or Fergie — whatever does the trick for you.  Let the music fill you up.  10 minutes with her iPod (and some very loud singing) and my daughter is ready to tackle with world. 

Have a safe haven:  Having one (or more) people that you can tell anything to…without having to ever worry that your words will be used against you or have judgment passed on them is a gift.  A gift, I suspect, most people don’t have.  Do you have someone like that?  Perhaps more important — are you someone like that for someone else?

Help someone else: My daughter takes an extra gym class. In this class, she helps mentally and physically handicapped kids enjoy gym.  They wouldn’t be able to take the class if it weren’t for some of their able-bodied classmates being willing to take this 2nd gym period as an elective.  I’m pretty sure she benefits as much, if not more, than the kids she helps.

Allow for plenty of alone time:  As time-starved adults, I suspect we’ve forgotten how much time (and the value of that time) we used to spend alone — thinking, reading, just being.  Don’t crowd your calendar and your life with so much that you can’t step away and just breathe.

Move it: Dance, run, jump on the bed (a very effective option), walk, play tennis, bike — but do something that gets your blood pumping.

Be grateful:  Truth is…for just about anyone reading this — you have a life that would be envied by most of the world.  No matter how much you are struggling or what you’re struggling with.  Say thank you as often as you can.  Keep a gratitude journal.  Count your blessings.

Laugh.  Every day: I think this is the one that means the most and costs the least.  Be silly, be stupid, be juvenile.  Remember how you used to laugh at the dumbest things when you were a kid?  And your parents would look at you like you were crazy? Who was happier back then?

As I conducted my little study and spent more time thinking about the whole notion of happiness — I re-discovered what I already knew.  It’s our responsibility.  If you want to be happy — then be happy.  Go out of your way to make sure you’re happy.

Which of course, is the answer to Lewis’ question too.  How can we make the world a better place to live and work?  By contributing a happy person to the mix.  Take responsibility for your own happiness.  Own it.  Hold yourself and no one else, accountable for it.

And then liberally mix that happy person (you) with the rest of the world.  It’s quite infectious.

How about it…what’s in your formula for being happy?

 

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Are the walls between our personal and professional lives crumbling?

February 8, 2008

Blur When I was growing up, my dad set the standard for how a business person behaved.  He went to work every day, did his thing and came home.  He would, on occasion, bring some work (read — paper) home with him.  I’m sure my dad made friends at the office but I didn’t know or hear about them.

My parents socialized (bridge, cocktail parties, etc.) with the neighbor couples.

They’d occasionally have to go to a dinner or host some work people at our house.  But those were rare occasions. For the most part, his two worlds were pretty separate. 

Today, I look at my two worlds (work and personal) and the line is awfully blurry.  Sometimes I wonder if that’s a good thing. Just in the last couple of weeks…

  • I’ve twittered (to my professional network) about my daughter’s incredible performance in her one act play
  • I read on Facebook that one of my employees didn’t crawl out of bed until 4:30 pm
  • I’ve posted family photos on my Flickr account
  • I’ve gotten a ticket (the game Parking Wars) on Facebook from a Microsoft exec
  • My marketing/branding blog has promoted a purely social event in NYC
  • I’ve had lunch with a client and we mostly talked about our kids
  • I sent a condolence message to a marketing colleague when I read her Twitter that she’d lost their family pet
  • In rapid succession, I joined a branding group and our church’s group on Facebook
  • A blog reader sent me a link to view his video chronicles of his personal journey with weight loss
  • I have pet work colleague’s (fluff) friends on Facebook (not as bad as it sounds)

And that’s just the tip of the iceberg.  Are you experiencing the same thing?  Online or offline, are your lines getting equally blurred?

What do you think about this phenomenon?  Do you think this merging of our lives has something to do with the fact that the old work day of 9-5 is also a thing of the past?

What’s the upside?  Downside?

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Stopwatch Marketing should be on your nightstand

February 6, 2008

Bookphoto233 Isn’t that where we all keep the book we’re going to read next?

I think Stopwatch Marketing is the book you should read next.

Here’s my formula for the ideal business book.

  • Tell me something I either don’t know or twist something I do know, so I get it in a new way
  • Tell me stories with lots of detail (case studies) to make your theories come alive
  • Make sure those stories cover a range of industries so I can see myself/our clients in some of them
  • Teach me how to apply your theory/ideas so I can really use them

Stopwatch Marketing nails every one of my criteria and then some. 

The gist of the book is that customers all operate on their own internal stopwatch.  But each person’s stopwatch is moving at a different speed. They may all be shopping for the same product (let’s say a bottle of wine) but how they shop for that wine is based on their own motivations/situation. 

Someone grabbing a bottle of wine before a party is a very different shopper from the person who is trying to pick out the perfect bottle for a first date.

The trick is, of course, how do you recognize and capitalize on these different kinds of shoppers?

John Rosen and AnnaMaria Turano make their readers a promise on page 6 of their book.  They say:

"The promise of the book you hold in your hand is that it will show how to analyze, evaluate, and exploit the time that represents every shopper’s most important resource…to understand how to measure the length of time your customer will spend searching for your product or service…and how to make absolutely certain that your product or service is close to the front of your customer’s queue: that lineup of shopping options that gets longer for consumers every year."

The authors identify four different types of shopping personas:

  • Impatient (pressed for time)
  • Reluctant (only purchase when they have to)
  • Painstaking (researches as long as necessary to select the best)
  • Recreational (slow and leisurely)

This chart illustrates the four shopping styles and the types of products that often fall into each category.  Stopwatch_figure_21 Part of the message is that a person is not always the same kind of shopper. 

I might happily spend an hour in Barnes & Noble, browsing and enjoying the atmosphere (recreational shopper) but when I’m in Target….I want to get in and out as quickly as I can. (impatient shopper) unless of course, I am shopping for a new digital camera (painstaking).

The book goes on to illustrate how both product and service driven companies have used the insights of the shopping styles to better understand their consumers and how to target them with the right message, at the right time.

But….what most business books lack is that next step.  Teach us how to actually use this stuff.  Not Stopwatch Marketing.  The entire second half of the book is devoted to doing just that.  There are sample focus group questions, needs gap examples, customer survey samples, web analytics information, budget building suggestions and much more.

There’s lots of meat on this bone whether you’re an experienced marketer, a consultant or a business owner.  Get it on your nightstand soon.

Buy the book
Check out the authors’ blog

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Should you lower prices during a recession?

February 4, 2008

Recession Remembering that perception is reality, we’re headed towards a recession.  Whether we are or not.  Consumers believe it’s coming…so they will behave accordingly. 

So we need to be ready to anticipate how this is going to alter their reaction/response to our marketing messages.  And, if they’re right, we need to be mindful of our own budgets as well.

Last week, The New York Times ran a story about how many retailers are pushing the "lower prices" message to capitalize on consumers’ fear.  The article documents several companies including the much written about Starbucks $1 cup of coffee.

Is this a good strategy?

Maybe.  It depends on your brand position. 

Are you the product or service that’s all about being cheap?  Are you ready to live with that new brand position far beyond the recession?

A low price strategy is one that’s easy to slip on and incredibly difficult to shrug off, once the economy turns around.  Consumers tend to really wrap their arms around a low price position and they aren’t likely to be happy about going back to paying full price.

If your brand is not about price — adopting a low price strategy is probably going to damage the work you’ve already done.  And that doesn’t only apply to luxury or high end brands.

As money gets tighter, consumers will want to be confident in the companies they do business with.  Brand trust will become even more important, the tighter people are with their cash.

A recession is the time to be even more diligent about protecting your brand by staying consistent.  If you weren’t a bargain basement brand a year ago, you should think long and hard before becoming one today.

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