Business Archives - Page 4 of 13 - McLellan Marketing Group

Desperate makes us both feel cheap (pricing strategy)

October 5, 2012

Your pricing strategy should never be accidental. It’s a vital element in your marketing mix.

Let me give you an example: We use an outside vendor to provide extranet services for our clients. We’d been with them for over five years.

We recently discovered a better solution. Not only is it better, but it’s also less expensive. It wasn’t so much the fact that it was cheaper that sold us. It was the ease of use for our clients.

But cheaper doesn’t hurt. And this was cheaper by a couple hundred dollars a month.

When I contacted the old vendor to cancel our service, guess what their immediate response was. “We can match their price.”

What? So you’ve been overcharging me for years? Or you magically just had a price reduction to the very dollar amount of my new vendor and you were about to call and tell me about it?

We’re still leaving but now, instead of feeling a little guilty about leaving our old vendor, I’m feeling a bit used. If they’d valued our business – why didn’t they offer us this new price while we were still their customer?

Talk about leaving a bad taste in my mouth.

Dropping your price just to keep a customer is never a good strategy. It makes everyone feel a little cheap. In the end, no one wins and you can kiss any sort of recommendation goodbye.

Your pricing strategy is one of the key components of your marketing message.

It speaks about things far beyond your cost. It communicates value, customer attentiveness and how you view the relationship, both short and long term. It’s not something you should just stumble into. And it’s not something you should damage by mishandling a situation, like our old vendor did.

They’ll buy when they trust

September 27, 2012

Here’s an equation that every business owner needs to understand.

Know + Like + Trust = Buy.

Whether you sell toothbrushes or multi-million dollar medical equipment and everything in between — until a customer:

Knows who you are
Likes who you are
Trusts you

there is no purchase. The depth of the trust required varies but there must be at least a base level of trust in place before anyone will spend a dime.

One of the things I love about social media/content marketing is that it is hard-wired to help savvy business people maximize this equation.

Know = search. If I can’t find you, then I can’t know you exist. Understanding how potential customers are using search when they want what you sell is vital to your business success today. Do you know what key words and phrases you should be mindful of? Are you creating content that will leverage that?

Like = social networks/blogs. When I hang out with you, in person or online, I get a sense of who you are and whether or not I like who you are. When I read your blog, I begin to learn who you are and what you believe. Are you out there, creating conversations and relationships? If not — when are you going to start?

Trust = consistency online and off. It’s easy to fake being nice, smart or helpful once or twice. But that’s tough to pull off on a consistent basis. We know that when it comes to our offline world. And we’re learning it’s just as true online as well. One of the greatest elements of having a digital presence is that it can quickly provide someone with a long term view of who/how you are. That builds trust.

That equation lines up perfectly with how content marketing/social media is supposed to work. When you create great, helpful content that aligns with how people search — you create that long tail effect that drives people to you. When you share it through your social networks and it’s done without being pushy or sleazy, people will come to like and respect you. Like and respect evolves into trust when you behave consistently in the same way.

Whether you actually sell online or you have a brick and mortar presence – using content marketing and your social media presence to move prospects along the spectrum of know, like, trust is just good business.

I’m curious — how are you building trust with what you do online?

Get your brand on

September 20, 2012

If I’ve said it once, I’ve said it a thousand times — your brand is not your logo. It’s so much more.

Want to explore what branding is really about and how it can completely change the trajectory of your company? Then you need to get to Chicago on October 11th for my friends at The Brand Establishment’s one day seminar on brand. (read more here)

What We’ll Cover:

Brand – The Most Oversold, Yet Least Understood Word In Marketing Today
The Definition of a Brand – Finally
 Branding vs. Brand Development
 Where The Brand Lives
Your Brand On Steroids
Build From The Inside Out
Your Brand Essence
Internal Brand Strategies – Moving Every Employee From Hearing About A Brand To Believing There Is A Brand To Becoming The Brand
Brand Management For The Long Haul
Business And Brand Strategy Alignment
Brand Touch Points – “Promises To Delivery” Mechanisms
The Brand Establishment’s BrandLab™ Approach – Looking Through The Brand Lens Brand Momentum – Monitor, Measure And Adjust
The Strategies Behind Successful Brands
Secrets Of Successful Brands
Who’s Doing It Right Today
How To Implement In Your Own Company

Presented by two of the nation’s leading brand experts, Jim Hughes and Tom Traynor; this seminar will provide today’s working marketing executives with the knowledge, tools and techniques needed to lead their organizations to greater profits and category domination, even in a slow economy.

At the end of this rigorous one-day session, you will be awarded a Level-One Certificate of Achievement from the country’s foremost authority in brand development, branding and brand management – The Brand Establishment. (Read the brochure)

I know these guys and they’re the real deal. So if you can get to Chicago (or are already there) this would be an eye-opening, business changing day. Hope you make it there.

(Click here for more info, registration links etc.)

The magic is in the media mix

September 18, 2012

The other day I got a direct mail solicitation from Google. Yes, that Google.

It was a good reminder me (and now to you too) that none of us can afford to get lazy when it comes to media mix.

If the King of Online recognizes the power of a printed piece, then we should probably pay attention too.

We know that people need to hear our message on average 8-13 times before they even notice we’re talking to them. But, in this age of being fascinated with all things digital — we need to remember to keep focused on creating a media mix — and that means adding some offline efforts into your overall marketing plan.

In fact, some are arguing that the hottest “new media” in terms of performance is direct mail. We’ve all rushed away from printing anything. Which means the mailbox is a lot less cluttered than an email inbox these days.

Best of all, by mixing your media, you can use one to point to the other. Your direct mail can drive traffic to your website. Your blog or FB page can encourage people to request a product sheet or attend a meet up at a trade show. (Oh…you’d forgotten that face to face is a media too, didn’t you?)

As you plan your next campaign, consider these “old school” off line tactics and see how you can blend them into your media mix — and connect them to your shiny new digital efforts.

PR placed article in a trade pub — driving online trials
Face to face meetings that result from an email invite
Direct mail, driving them to an online video
Voicemail message, inviting them to a webinar
Radio spots inviting listeners to download a podcast
Hard copy white paper/article which introduces them to your online library of content

I’m not suggesting that you always need to cross promote between on and offline. I just wanted to show you what’s possible. And how going old school with your media mix should be part of your plan. I don’t care how hip and cool what you sell may be.

Social Media Primer – yours for the asking

September 13, 2012

There’s so much going on in the social media world — it’s hard to keep up. But don’t worry — we’ve got the answer for you.

We’ve created a new educational series called 60 Ticks to Social. (Drew’s Marketing Minute…get it) When you sign up, we’ll send you one email a week for about 18-20 weeks. Each email will give you a quick overview of some aspect of social media and sometimes it will also include a link where you can download even more info, if that would be helpful!

It’s 100% free — free of hype, free of jargon and free of any strings. We hope you’ll sign up, tell your friends to sign up and that, most of all, it will be helpful to you.

I promise — it will be worth the minute it takes to read it. If you’d like to sign up, all you need to do it click right here.

The most important job any business owner has

September 6, 2012

You know…sometimes we make things so much more complicated than they need to be. Do you want to own or work for a company with longevity, a strong reputation and customers who are your best advertising?

Then follow this advice from The Little Blue Book of Advertising. But I warn you…the simplicity of the advice is also what makes it so stinking difficult.

“Taking care of your brand (building it, managing it, protecting it, and yes, if necessary, reviving it) is the single most important job you’ve got. Whether you’re the president of the company, the EVP of marketing, or the newest employee in the advertising agency’s design department.

Your brand will last longer than any of your jobs. It’s even likely to last longer than your company. So taking care of your brand is also a smart career move–if you take care of your brand, it’ll take care of you. No one ever made the cover of Forbes magazine by getting a raise. But the covers and pages of the business press are filled with people who championed a great brand.

What’s the easiest way to take care of your brand? Take care of your customer. Know who she is. What he wants. How she uses–and thinks about–your product, service, brand.

It’s that simple. And that hard.”

Rules of the Hunt – do you know what they are?

September 3, 2012

There’s a new book called Rules of the Hunt* that is unlike many of the business books on the shelf today. No witty parables, no acronyms for an overarching belief, in fact it’s absolutely void of anything trendy or theoretical. Instead, this book is just down to earth and friendly advice like you might expect from a trusted mentor.

Did you ever have that one teacher, uncle or boss who you could just sit and listen to for hours? That’s how I felt about this book — like I was learning from someone I could trust.

The author, Michael Dalton Johnson, shares a lifetime of learning and earning. Along with his practical business insights and observations, Johnson shares some powerful leadership rules that I suspect you’ll use more than once.

I had the chance to ask the author the same questions I enjoy asking all the authors and here’s what he had to say:

If you had to describe the content of your book in a single sentence (no run ons) what would it be?

An old dog’s advice to improve one’s business game.

What one book that you’ve read do you wish you could claim as your own?

There really are none.

In your opinion, what is the one trait that all uber successful business people possess?

I think they all share a real love of the game. There is an abiding excitement and sense of adventure that comes with business success. I doubt you would ever hear one say, “I hate what I do.”

What’s the biggest business mistake you’ve ever made and what did you learn from it?

By far the biggest mistake I’ve made was selling a business prematurely. Back in the nineties, about a year before the Internet boom, I was a partner in a small technical publishing and marketing firm. The champagne corks were popping when we sold it for several million dollars.

About a year later, when the Internet gold rush was in full swing, a like sized competitor sold their business to a fortune 1000 company for 70 million.

The lesson, of course, is to not sell a soon to be appreciating asset. We could have probably seen the Internet investment frenzy coming had we bothered to get quality research on business and investment trends. We never even thought of it.

Why did you have to write this book? What truth or insight was missing from the human consciousness — that you’ve now answered?

My motive was not as lofty as adding to the human consciousness. I have witnessed, and continue to witness, business people making easily avoidable errors. I see many that are doing just so-so and others missing big opportunities, losing money and destroying their health. I wrote this book to give them small advantages to play a better and more rewarding business game.

After someone is done reading your book — what do you hope they do as a result?

I would hope they reflect for a moment on the author’s soaring genius and then start enthusiastically recommending the book to friends, family and strangers at Starbuck’s.

Seriously, I hope the reader will simply remember and use these rules.

Note: If you purchase the book on Amazon (see the * affiliate link above or click here) and then go to the Rules of the Hunt website (click here) you can get a bunch of extras from other authors like Zig Ziglar, Jeffrey Gitomer, and Bob Bly.

Marketing tip #93 How to make the most of a trade show

August 28, 2012

It seem intuitive to us that if we’re heading to a trade show as an exhibitor we should be thoughtful about how to maximize that time and dollar investment. Yet somehow, when we’re attending a show or conference as an attendee, we don’t seem to give it the same consideration.

I suppose many people make the assumption that if you go to a conference and learn something – it’s time and money well spent. That’s certainly a good start, but if you’re smart about it, you can get so much more out of your trip.

Location, location, location: Assuming the trade show is not in your home town – take advantage of the change of venue. Is there a prospect you’ve been romancing from a distance that happens to be located within a reasonable distance from the event location? If so, fly in a day early or fly out late and schedule a face to face.

Create a hit list: Usually the conference will publish a list of attendees ahead of time, to entice others to join in. If they don’t publish a list – do a Twitter search to see who is talking about the event. Once you’ve seen the list or at least a partial list – identify three to five people you absolutely want to meet and connect with.

Seek them out (not in a creepy stalker way) and be ready to engage them in a conversation. Your goal – to get to know them well enough that you can reach out to them after the show and stay connected.

Be a connector: Make it your goal to help one new person a day. That help might be introducing them to someone you know, it could be sharing a resource or as simple as inviting them to join you for lunch.

For many people, attending a trade show (especially if you’re alone) feels very isolated and even the most gregarious person can get a little shy. But if you’re the one being helpful, that’s takes a lot of the discomfort away.

High five the presenters: No matter how often someone speaks at a conference or trade show, it’s still a bit of a nerve-wracking experience. Even if they’re a superstar in their field, they still will appreciate a “way to go” or “I learned a lot” from you. Want it to be even more sticky? Tweet the “atta boy” to them and then follow up with a question. Odds are, you just added someone cool to your network!

Pace yourself: Most trade shows over-pack their events with speakers, socials, minglings and exhibit hall time. They want you to know that you’re getting your money’s worth. But no human being can go at that pace for several days in a row. Identify the two events each day that are “must see” and a couple more that are “would like to do’s.” Don’t let the schedule over schedule you.

Schedule an extra day at the end: I know it sounds ridiculous. You’ve already been out of the office for several days. Why add an extra one? If you don’t do your conference follow up (write blog posts, shoot off some emails, enter the business cards into your database with your notes, make some follow up calls and appointments) before you get caught up in the hustle and bustle of your regular work life – odds are, it will never get done.

If you aren’t going to set yourself up for success and all you want is to learn something new – save your money and watch a webinar or two. But if you really want to make the most of your investment – grab a couple of these tips and hit the ground running.

Why do the hard work of building a brand?

August 20, 2012

Let’s assume the following is true:

Your brand is not your logo but instead it is the essence (heart, true north, reason for being) of your organization.
A business either builds a brand of distinction or has to compete based on price
A brand isn’t easy or common. Most companies don’t have the courage to have a real one.
A strong brand lets you focus on your sweet spot customers and let the others pass you by

All pretty good reasons for creating a brand. But building a brand is hard work. It’s expensive, in terms of time, focus and even money. It requires the attention of your entire company — from the part-time janitor to the CEO and everyone in between.

Is it worth it?

Check out this post over at the Brand Establishment. They make a pretty compelling argument that along with the benefits I listed above…a brand’s ROI includes:

Increased customer loyalty
Minimized negative effects of a crisis
Better marketing and co-branding partners

I’m not saying it will be easy to build a brand. But, when done right — it’s a game changer. And that should be worth the effort and the risk.

Why your brand is dead in the water

August 14, 2012

Here’s how most brand evolve. The organization’s leadership huddles up at a corporate retreat (or if it’s a start-up, around the kitchen table) and decide on a tagline and maybe a logo.

The tagline becomes the battle cry of the brand and they’re off to the races.

Or worse yet…the organization hires an agency who claims to “do branding” and after a little deliberation, the ads have the new tagline and logo and voila, the brand is launched.

Fast forward 6 months or maybe a year. The tagline and the brand are limping along. No one really uses them anymore. And if they do, they think of it as the “theme of the month” and assume it will just go away over time. And it does.

There are many reasons why a brand fails….but the biggest one in my opinion is that the employees are not properly engaged and connected to the brand. Without a huge investment of time, energy and some money — the brand remains a superficial cloak that can easily be pulled off or shrugged off when it gets to be a challenge.

Your employees are the key to a brand’s long term success. It’s that simple.

When we are asked to develop a brand for a client, we require the step we have dubbed “seeding the brand” which is the whole idea of introducing the brand promise to the employees and letting them take ownership of it — deciding how to deliver the promise, how to remove the barriers to keeping the promise and how to keep the brand alive inside the organization.

If a client won’t agree to implementing that stage of the process, we won’t do their brand work. No ifs, ands or buts. Why? Because it won’t work without that step. And I don’t believe we should take their money if we can’t deliver success.

Discovering and then building a brand takes a village. And you have to start by including your own villagers.

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