Are you evolving with your marketplace?

May 13, 2009

One of the challenges for any mature business to to balance the two ideals — staying true to your brand's core and yet still being nimble enough to evolve with your marketplace.

As you may know, I am a bonafide Disneyophile.  I have been to Walt Disney World at least once a year since it opened in 1971.  Back in the late 70's and 80's, the only real competition to Disney was SeaWorld in Orlando and if you wanted to make the drive, Busch Gardens in Tampa.

I can remember leaving Disney property to head to SeaWorld as a kid.  It was a great day — Shamu the whale, feeding the dolphins the dead fish and watching a water skiing show.  There were many things to see and watch, but there wasn't a lot to do.  As a pre-teen boy, I was full of energy and loved thrill rides, like roller coasters.  So after our initial SeaWorld visit, my parents couldn't convince me that going back was worth losing a day of Disney's rides.

In the late 90's, Universal Studios added to the market by building two theme parks, packed with thrill rides.  Which I'm sure added even more pressure to Sea World.  They had two choices.  Stick with just Shamu & gang or branch out and add a thrill ride or two.  They opted for #2 and just last week opened The Manta.

Want to see how it might feel to ride the Manta?  Check out this POV animation of what the ride will be like.

What do you think?  I'm a little torn.  They did a good job of keeping the ride tied to their brand.  And I'm sure it will help them attract more young families, whose kids want thrill rides.

But on the flip side, their brand is about learning more about sea life and getting up close and personal.  Did Orlando really need another roller coaster?

If you were on the planning team at Sea World, would you have recommended the thrill ride or something different to keep up with the marketplace?

Check out Sea World's new Manta roller coaster!

P.S.  The logo below tells you that I heard about the Manta from IZEA and because I'm using their link, I'll get paid a whopping 50 cents per click.  I use that sort of money to pay for mailing out the free books etc. that we do here on the blog.  Pretty sure I'll never break even but you never know! ;-}

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Be not afraid

May 10, 2009

92044533 I spent the day on Friday at the Maximum Impact Simulcast, listening to the likes of Tony Blair and John C. Maxwell talk about leadership and courage.  It’s inspiring.  It makes us want to be our best self.  Who doesn’t want to be seen as an amazing leader?

I think it’s natural after spending a day at that sort of an event, to look at your own life, to see if you can see a glimmer of that greatness.  As I let my mind wander over my own choices, I couldn’t help but notice that there’s a pattern to my life’s greatest and most fulfilling adventures.

I blundered into them.

Now I don’t mean to make myself sound less accomplished but the truth is, my life’s biggest adventures began with one common denominator – I had no idea what I was getting into.  No amazing courage.  No brilliant insights.  Just me, blindly stepping off the ledge, having absolutely no idea how far down the drop was.

The good news is that it meant I was also not afraid.  I probably should have been – but because I didn’t realize the enormity of what I was doing, I actually blindly strode into the new opportunities with incredible confidence and enthusiasm.

Perhaps that’s not such a bad plan.   Look at what it got me.

Becoming a dad:  Totally clueless.   Yes, I read a couple parenting books but they talk about how to diaper and feed, not the real parenting stuff.  I could not possibly have imagined that the arrival of this baby would literally re-write my entire life, my work schedule (I have left the office every day at 3 pm since she entered pre-school) and my life’s priorities.

No amount of worry could have prepared me for some of the conversations we’ve had, some of the split second decisions I’ve made or the depth of love that underscores my relationship with my daughter.

Opening my own agency:  I’d love to tell you that I had a well written business plan, a stash of cash to fall back on or several clients waiting in the wings.  But none of that is true.  And yet, it didn’t occur to me that it wouldn’t work.  I was 32, naïve and had an incredibly talented business partner (who has since gone on to different successes) who was as clueless as I was.

No amount of hand wringing could have prepared me for twists and turns of being a business owner, the excruciating decisions I’ve had to make, or the many relationships we’ve been lucky enough to earn and enjoy.

Had I been logical or even deeply thoughtful about either decision – I very well might have decided that the potential risks outweighed what I thought were the potential gains.  Man, would I have been wrong.

We’ve all heard the Redmoon quotation “Courage is not the absence of fear but rather the judgment that something else is more important than fear.”

I wish I could tell you that I consciously decided that being a dad or owning my own agency was more important than the fear but I just didn’t feel any fear until it was too late – I’d already stepped off the ledge.  At that point, when the fear appeared, I had no choice but to push it aside and keep trudging forward.

Why am I telling you all of this?   Because I suspect that someone reading this right now is afraid and can’t pull the trigger on a dream.

What are you worrying about right now?  What is fear keeping you from trying or risking?  Are you letting the economy, a golden handcuff job, a pending retirement or something else keep you from stepping off the ledge? 

You’re probably smarter than I was….I blundered into my life’s best decisions wrapped in complete ignorance.  You know what the risks are.  You know all the pros and cons. 

But what you might not know is the remarkable rush that comes from just spreading your wings and taking the leap.  What you probably haven’t considered is that those wings and the winds of chance might take you to a place more dazzling and delightful than you could possibly imagine.

Ignorance for me.  Courage for you.  Maybe it doesn’t matter why you leap.  Just that you do.

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20+ lessons I (re) learned about marketing when starting an Internet business (Dennis Price)

May 8, 2009

36107243 Drew's Note:  As I try to do every Friday, I'm pleased to bring you a guest post.  Meet another  thought leader who shares his insights via the blogosphere. So without further ado…Dennis Price.  Again. Enjoy!


I run a business in the real world that has an internet presence and uses some (basic) internet tools . (Hey, I am even on twitter, have a LinkedIn profile, but I wouldn’t describe myself as one of the cool kids on the block. Like this one, and this one or this one. I connected with Drew through the cool conversation, but I am not cool. I do not come from the dark side either…)

Running and marketing this ‘real’ business is very different from running an internet business – even if you use some of the same tools. But there are also some universal principles that continue to apply, no matter what the platform and no matter what the business idea.

Like everyone else, I am lured to the internet-only business model because there is such great potential to:

  • automate processes
  • scale up
  • tap into global markets
  • earn recurring revenue

I am also an experienced marketer (in fact I teach marketing part-time at a world-class graduate school) and I like to think I know the basics. Boy, was I wrong.

In April 09 we launched retailsmartresults.com. And these are the lessons I learned along the way.
It started out as a membership driven website business model, but evolved into something else. That is because we made many mistakes. Some of these we should have known better because it really is just about fundamentals and the other lessons are just about us paying our school fees. In hindsight, they are all obvious.

  1. There are a lot of people who can talk the talk but not too many who can walk it.
  2. There is a gulf (of money) between social-media-as conversation and internet marketing scams. (And there is a real opportunity in between.)
  3. If your business model and if your target market is not exactly clear before you start, you will spend a lot of time re-writing and re-designing.
  4. The technographics profile (put forward in ‘groundswell’ www.forrester.com/Groundswell> ) probably over-estimates the number of participants and ‘creators’.
  5. No one on the internet knows you are a dog. But the flip side of that is that no one cares about your blog.
  6. And they might not care if you are a dog, you will not be able to hide your ‘dog-ness’ for very long.
  7. There is an art to eliciting comments – and one not yet mastered.
  8. If it is extremely difficult to do, or if no one else has done it before; it probably is for good reason.
  9. A large following counts for a lot – and it is a lot harder to achieve (authentically) for anyone but a first mover. (In the internet world there is only room for one. One Amazon, one EBay etc.  – but that is a post for another time.)
  10. One month = 7 internet years.
  11. The corollary of you don’t need much capital to start is that you can’t raise capital easily.
  12. By the time somebody has discovered the recipe AND is prepared to pass it on, the goalposts have moved.
  13. The average business person and employee – and that includes Gen Y – is not as computer literate as you think.
  14. Crowdsourcing cannot be applied to decisions you have to take.
  15. Customer service cannot be automated.
  16. Your competition almost always charges ZERO.
  17. The internet is a shallow pool.
  18. Face-to-Face counts. A lot. Maybe even more than before.
  19. Being in constant beta is a reality of the platform, but it is harder to live with than you think.
  20. Just because you like it does not mean everyone else will.
  21. Simplicity is hard.
  22. And one bonus lesson. The business plan counts for nought. The planning is invaluable. (I think I steal this from someone famous.)

If you have lessons of your own, comment below and I will be sure to take note because I don’t have any money left for more school fees.

Dennis Price is CEO of Ganador Management Solutions, a company the focuses on helping the retail supply chain work more effectively with the retailers. Retailsmartresults.com is the online version of that, and has been handed over to the community – for free and he is giving away a free E-Book in the process.

Every Friday is "grab the mic" day.  Want to grab the mic and be a guest blogger on Drew's Marketing Minute?  Shoot me an e-mail.

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Your customers have no clue what you do

May 7, 2009

26254610 Painful Fact: Your customers know much less about you than you think. Until they need it, they don’t bother to find out if you do it. And sometimes, they don’t think to ask – even then.

For example, many an agency bemoans the fact that their clients went elsewhere to have a website built or to have a speech written, simply because the client didn’t know the agency did that sort of thing. (For our clients out there…yes, we do both.)

You have to tell them. Tell them in an engaging way. Tell them in a useful way – give them something to “steal” or adapt to make their own life a little easier.  Use the dialogue to establish your expertise and your commitment to their success/well being.

  1. Are you sharing case studies with "here's what we learned" tips that your other clients can use?
  2. Are you hosting events where your customers can come together and talk about the thing they have in common – you?
  3. Do you bring samples or photos of work you've done for others to your client meetings?  Start off the conversation with a…"hey, I thought you might find some value in what we learned when we did XYZ for You Know Who."  So bring something relevant.

If they don’t know that you do it – they’ll find someone who does. And it often times, might not be you. And – don’t even think about doing it just once.  You have to tell them over and over…and be on-target and on-time each and every time.  Don't make them search — tell them again and again.

If not, you send a message you don’t want them to get — call somebody else.

How do you let your customers know the depth and variety of things you are capable of doing for them?

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A cost effective and powerful marketing tool

May 4, 2009

19374261 Marketing your company during good times is hard enough. But marketing your company while trying to manage expenses can really be tough. So what’s a marketer with one hand tied behind their back to do?

One powerful and cost-effective strategy that generates consistent results is strategic email marketing.  When done right, it can generate huge ROI percentages within a reasonable budget.

The following are just some of the strategies to keep in mind when developing email campaigns:

  • Get to the point—You only have 2–3 seconds to catch their attention. Always provide relevant information that your target wants and avoid the “fluff.”
  • Keep it short—No more than 15–20 percent of the copy you would include in a traditional printed direct mail letter.
  • Be conversational—Your email should be an extension of your brand. If your brand is formal, write in a formal style. If your brand is casual, make it casual.
  • Use bullets and lists—Emails are unique in that the reader wants the info fast. Instead of long sentences, try bullets or lists to convey your points. This is a vehicle of “sound bytes.”
  • Choose your topics carefully—Always make the information timely and culturally relevant to your target.
  • Use proven layout strategies—Typically, email readers like to scan first and then go back and read. So make sure that you break up your copy with bullet points, illustrations, photos, or graphs. And make sure to have plenty of “white” space.
  • It’s not about you—Be sure to spend less time selling your products/services and more time providing useful information to your readers. The more useful your information, the more response you will generate.

If you haven’t done so already, consider adding a strategic email campaign to your arsenal of marketing weapons. It can be a very powerful and cost-efficient strategy that generates impressive returns.

Thanks to my friends at Gumas Advertising for these tips!

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Do banking and social media go together?

May 1, 2009

30450110 The banking industry has come under a lot of fire in the media of late and is fighting to prove that a few bad apples should not spoil the whole bushel.

We talk a lot about social media being where transparency and authenticity are the highest form of currency so it seems to me that banks, despite their conservative stereotype, should be wrapping their arms around social media with all their might.

Next week, I’m speaking to the Iowa Bankers Association’s marketing conference on social media and would love to be able to cite some examples of banks who are successfully using social media.  Can anyone share with us some examples of how the banking industry is building new or strengthening old relationships with social media tools?

Ironically, Patrick Byers from Responsible Marketing is coming in all the way from Seattle to speak at the same conference.  I’m looking forward to putting a face to the smart blog posts I’ve been enjoying since he launched his blog.

His talk on responsible marketing is also incredibly timely for the industry.  Since we’re both doing two sessions, I’m going to suggest to my attendees that they catch his encore performance.  If I didn’t have to do my own presentation again, you can bet I’d be there!

So what say you…can you share some social media + banking examples? 

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Is my Business Plan a Weapon or Just another Word Document (Cory Isaacson)

May 1, 2009

81947852 Drew's Note:  As I try to do every Friday, I'm pleased to bring you a guest post.  Meet another  thought leader who shares his insights via the blogosphere. So without further ado…Cory Isaacson.  Again. Enjoy!


The economy is challenging investors and entrepreneurs like never before.  The bottomless well of funding has officially dried up as the fight for investment capital has become an all out war. 

Yesterday’s business plan needs to be today’s battle plan, and for an entrepreneur, the ultimate validation for the battle plan will be its ability to connect a defined value proposition to a clear and attainable business metric.

If not, then the real question one has to ask is “who really cares?”  As glib as that may sound, it should be a fundamental concern for any entrepreneur with a vision and the inspiration to put forth his or her thinking.  

First things first, you need a clearly defined value proposition that answers two simple questions: 

  • how will it disrupt the marketplace?
  • how will it be profitable? 

Coming up with the answers to these questions will be a challenge – it should not be a comfortable process, challenging yourself never is.  If those two questions are not answered, forget about it and head back to the drawing board.  Conversely, if it does answer those two questions, then you’re one step closer to arming yourself with a battle plan.  

A bullet proof value proposition becomes your arsenal and shield, capable of mounting a solid offensive as well as defending the battle plan from the nonbelievers and an unpredictable business climate.  By clearly demonstrating how the value proposition can transcend the challenges posed by the marketplace, an entrepreneur will then be able illustrate the opportunity for growth.

By illustrating that opportunity for growth, you’re ready for war.  It was with this very concise but simple approach that we drove the creation of the original Walton | Isaacson battle plan for “The Planet’s Most Interesting Agency” – and in turn, generated the interest and funding of entrepreneur, media mogul, NBA legend and our partner, Earvin “Magic” Johnson.

There will be more losers than winners during this time of economic crisis.  However, those entrepreneurs who fiercely believe in what they’re doing stand the best chance of winning.  The only factor any investor really cares about is results, and if results can be clearly communicated through your value proposition in a simple and direct manner, your vision and battle plan will become a well-funded reality.

Cory Isaacson's expertise in developing and executing highly successful marketing programs is widely regarded throughout the industry. Over the years he has been recognized for his groundbreaking work, including Jack Daniel’s Studio #7, Hanes Hosiery / Tina Turner, Kodak / House of Blues, Burger King / Backstreet Boys, HP Moving Fashion Forward, Budweiser / Rolling Stones, and Ericsson’s “Power of  Voice” with Celine Dion.  His unique approach has earned him numerous industry awards, including PROMO’s Pro Award, Ex Awards and Effies. 
 
Isaacson holds a Bachelor of Arts degree in history from the University of Wisconsin and has taught MBA classes on entertainment marketing at Tulane University.  Cory currently resides with his family in Chicago and is a partner at Walton | Isaacson.
 
 

Every Friday is "grab the mic" day.  Want to grab the mic and be a guest blogger on Drew's Marketing Minute?  Shoot me an e-mail.

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Pick up your head (a marketing lesson from Maggie the mostly lab)

April 28, 2009

Picture 7 This past weekend, I took Maggie the mostly lab on a long walk along a wooded trail near my home. 

We had the trail to ourselves as it was a cold, gray day…with a steady drizzle.  As we walked, I couldn't help but notice that Maggie rarely looked up, her nose close to the ground as she sniffed with vigor, weaving back and forth. 

It occurred to me that we often do the same thing.  The pressures of work, juggling all the projects or clients, trying to squeeze in a little work/life balance etc. has us nose to the ground much of time. 

But as I observed Maggie on this walk, she clearly illustrated the dangers of that mindset.

You lose sight of what's going on around you:  On our walk, the trail was a hopping place.  Four deer, 2 rabbits (including the tiniest baby rabbit I have ever seen), a woodchuck and more birds and squirrels than I could count all literally ran right in front of us, crossing the trail.  Maggie didn't see one of them.  Think how different her walk experience would have been if she had.  (I'm pretty sure I saw one of the deer mocking Maggie to the other deer.)

How many times have we missed an opportunity because we were out of touch with what was going on around us, in our industry or maybe even in our own company?  Often times, those opportunities cross our paths once and then they're gone for good if we're not ready.

You step in things you wish you hadn't:  As we rounded a bend in the trail, Maggie was so oblivious, she walked right into a patch of pricker weeds.  She let out a yelp that was so loud, she spooked all the birds in the trees around us.

Admit it, you've been so absorbed in the minutia of the day, or in an internal political battle or worrying about losing your job that you've stepped in something pretty unpleasant too.  It's so easy to get sucked into our own heads or a project that we don't see we're stepping on a landmine, often with disastrous results.

You can go down the wrong path:  At one point in the walk, I decided just to see where Maggie would lead us.  Now, I am not suggesting she is a genius but we've walked this same trail many, many times.  But because she had her head down, she very quickly took us off the main trail, and into one of the neighborhoods surrounding the area.

We have to see the big picture to make good choices.  We need to know what our customers are saying, our competition is doing and how the marketplace is responding.  Without that, we're literally making decisions in the dark and can end up where we don't want to be.

Take it from Maggie and me.  Make some time on your calendar to step back and look around.  Don't let the day's tasks drag your head down too close to the ground. 

I'm curious — how do you balance the demands of the day with the need to keep your head up?

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Time to start talking to dads in a different way

April 27, 2009

Right up front, I will admit my bias here.  I've always found the advertisements and shows that portray dads as the bumbling idiots to be pretty insulting.  I think it demeans how dedicated many men are to their kids and being a good dad.

It's not that we can't laugh at ourselves, but from a marketing point of view — I may find it funny but I sure don't see myself in the portrayal.  So if you want to amuse me…have at it.  If you want me to buy something, you'd better find a different avenue.

That's why I found this recent study from the nonprofit Families and Work Institute (FWI) so fascinating.  What the study suggests is that men are now feeling the same pressures to balance their lives and that pressure is causing a lot of stress. 

It suggests that perhaps it's time for marketers to re-think how they target and talk to men.  I'm curious what you think…do you think this sort of study gives us new insights?  Or do you think marketing is ahead of the research and we already knew this?

Here's some of the study's data and analysis.

The study traces the trends in men’s and women’s attitudes and actions over the past three decades, reveals that changing gender roles have significantly and specifically increased the overall level of work-life conflict experienced by men, from 34% in 1977 to 45% in 2008. On the other hand, the rise in women’s work-life conflict, which increased from 34% in 1977 to 39% in 2008, has been less dramatic and is not statistically significant.

Fathers in dual-earner couples are spending more time with their children but are experiencing more work life conflict than mothers. In 1977, 35% reported experiencing some or a lot of conflict. In 2008, that figure has risen to 59%. The level of conflict experienced by mothers in dual-earner families has not changed much during that time period (41% in 1977 and 45% in 2008).

Picture 11

Working Women Can Be Good Mothers

Greater proportions of both men and women agree that employed women can be good mothers, the study found. In 1977, 49% of men agreed (strongly or somewhat) that a mother who works outside the home can have just as good a relationship with her children as a mother who does not work. Today, 67% agree. From 1977 to 2008, the percentage of women agreeing moved from 71% in to 80%. Both men and women who grew up with employed mothers have greater acceptance of working mothers than those whose mothers did not work outside the home.

Fathers Spend More Time with Kids

Employed fathers, especially Millennials, are spending more time with children today than their age counterparts did three decades ago, while employed mothers’ time has not changed significantly. On average, employed fathers of all ages spend 3.0 hours per workday with children under 13 today compared with 2.0 hours in 1977. For employed mothers of all ages, time spent with children has remained at 3.8 hours. Today’s Millennial fathers spend 4.3 hours per workday compared with the 2.4 hours spent by their age counterparts in 1977. Mothers under 29 today average 5.0 hours compared with 4.5 hours in 1977.

Men also say they are taking more overall responsibility for the care of their children. In 1992, 21% of women said that their spouses or partners were taking as much or more responsibility for the care of their children as they were. By 2008, that percentage has risen to 31%.

Interestingly, FWI noted, 49% of men report taking as much or more responsibility for the children as their wives, indicating a perception gap.

The report states that the gradual increase of women in the labor force over the past half century, combined with various work life trends and economic pressures, has resulted in a shrinking gap between how men and women view their careers, family roles, and the fit between their lives on and off the job.

“Our findings are striking and surprising,” said Ellen Galinsky, president and co-founder of FWI and lead author of the study. “There are many firsts in this study – the first time that younger men and women feel the same about job advancement and the first time that there is no statistically significant difference between men and women in their views of appropriate gender roles.”

You can read the whole report:  “Times Are Changing: Gender and Generation at Work and At Home,” (pdf) examines the evolution of work-related gender roles over the past three decades.

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What would your pep talk be about?

April 26, 2009

86589951 There's an interesting project brewing.  Phillipe De Ridder has invited bloggers to think about 2009 so far and share their views.  In his words…

Let’s all share our views on 2009 up until now. What is your advice to the world? Which projects have surprised/disappointed you so far (in your industry or in general)? Are people motivated enough to start new projects? Which solutions can innovation bring?

I'll be joining in on the fun.  I'd love your thoughts on the state of branding, marketing etc. in the year 2009.  What's your half-time report?

If you'd like to join the project, you can get more info on Phillipe's site.

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