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Category: Editorials

  • More Isn’t Always Better . . .

    More Isn’t Always Better . . .

    How many of you receive more than 200 e-mail messages per day? How many of you receive more than 50 text messages per day? How many of you read more than 200 entries on social media platforms per day? Add to that radio and TV messages, Internet pop-ups, banner ads, product packages, direct mail promotions and other “input” and you have a perfect recipe for sensory overload. Studies have shown that while most people think they can multi-task well, nearly all of them showed reduced focus and performance standards on tests that required them to concentrate on as many as three tasks at once. The tasks got completed eventually, but not always with the level of quality required, and in approximately the same amount of elapsed time as would have passed if they had done each task individually in serial fashion. So where’s the gain?

    With that many messages coming into our consciousness, none of them receive the attention they deserve, to the point where we actually spend as much energy prioritizing them as we do comprehending them and acting upon them.

    Too many choices, too much information, not enough filtering or discrimination between input sources leads to inaction, dilutes the impact of each message, and slows progress and productivity. As marketers, we need to constantly be aware of the environment in which our customers and prospects function. Bombarding them with messages doesn’t necessarily lead to action, but does lead to saturation, and that saturation point is far more quickly reached today than it was even two years ago.

    That’s actually good news for intelligent marketers. It means that spending more money on higher insertion frequency, broader media buys, longer ad schedules, and higher print and circulation runs won’t get the desired results, and that knowledge allows us to focus on greater message positioning, greater relevance, tighter targeting, higher impact, and better value in our communications. Less is more, and better is less.

    Make it perfect, make it relevant, make it resonate, make it accessible on many platforms and through many channels to allow for preference, but don’t bombard or carpet-bomb in order to achieve penetration – the shields are up and it won’t work!

    Spend the savings in increased production value, higher creativity, better thought processes, higher levels of innovation, originality and transparency – it will pay off ten-fold in the long run.

    If you think this makes sense, or would like more information on this topic or others, Pick up a copy of “The Marketing Doctor’s Survival Notes” – a great addition to your professional library.

     

  • Want To Boost Profits? Never Mind Customer Satisfaction, Watch Your Rank

    Want To Boost Profits? Never Mind Customer Satisfaction, Watch Your Rank

    According to a study released by researchers at Fordham University and Ipsos Loyalty, customer satisfaction is not the best indicator of brand performance for consumer product or service companies. According to the study of 17,000 consumers over two years, the researchers developed a new measuring tool for brand effectiveness, dubbed the Wallet Allocation Rule, and skillful use of the principal can net companies millions of dollars, putting them ahead of their competitors and boosting recognition and loyalty along with customer engagement.

    Apparently “satisfied” customers are not necessarily the most loyal or profitable. Wal-Mart found this out the hard way. After launching a major renovation initiative after reviewing massive amounts of customer feedback, it cleared aisles, deleted endcaps, removed pallets of products and such, and sure enough, customer satisfaction scores rose – and same-store sales revenue entered the longest decline in store history! Apparently customers were happy to shop at Wal-Mart, but did a larger proportion of their shopping elsewhere. Share of “wallet” dissipated.

    So if happy customers aren’t loyal, and their happiness doesn’t lead to spending, what does? Ranking of priority does, based on a simple formula that illustrates a high correlation between brand ranking and share of wallet, in a very predictable fashion. This takes into account not only the rank, where the consumer places your brand on the priority list, first, second etc., but also how many brands that do the same thing exist in the landscape of their shopping experience.

    There is an elegant formula for calculating your rank, and for calculating your share of wallet, which I won’t go into here. For details, see http://hbr.org/2011/10/customer-loyalty-isnt-enough-grow-your-share-of-wallet/ar/1 .

    While the article states essentially that companies that boost their ranking will be more successful, what the formula doesn’t tell you is how to boost the ranking of your brand upward. Based on the way they conducted the study, and our own research on the way consumers feel about brands, I can make some educated guesses. Consumers have an emotional connection to the brands they engage with, no matter how infrequently they cross paths. Most people won’t admit to that connection or characterize it as emotional, but in interview research on brand awareness and delivery on the brand promise, consistently the brands with the highest emotional engagement, or most noticeable and consistent delivery on the promise would be the most popular, regardless of the nature of that emotion. Sometimes getting people riled up about something cements that brand sufficiently in consumer’s minds to rank highly, due to the high level of emotional engagement, even though the emotion might appear negative.

    The other factor at work here has more to do with awareness and visibility. The higher the frequency of engagement with a given brand, at least in brands that elicit a high emotional response, the higher the rank will be. Recency plays a part here, too, although not as big a part as you might think. If you’ve engaged with a brand more recently than others, that brand’s ranking will tend to be higher, but only by a small percentage, and any negative aspect to the engagement will erode the recency effect almost immediately. That paradigm puts a lot of the responsibility for boosting brand ranking squarely in the Marketing Department. Marketing has long been the home of the brand steward, but this study gives some teeth to their feeling that “the more we spend the more we make”. Big, vibrant, effective marketing campaigns that put product in consumer’s hands more frequently and regularly, as long as the experience is living up to the promise, will move more units by boosting ranking, taking money away from your competitors and spiking share of wallet.

    While consumer product or service sales is not a zero-sum game, you can grab market share from your competitors, and if you grab share of wallet, revenue and profits rise noticeably. Those extra sales had to come from somewhere, unless you’re the only product in the category. Moral of the story is that you don’t have to be the fastest guy in the jungle, you just have to be faster than the guy next to you, to avoid being eaten.

  • Are Accuracy and Grammar Important in The Era of Social Media?

    Are Accuracy and Grammar Important in The Era of Social Media?

    OK, I’ve about had it with poor language skills being forgiven under the pretext that “as long as you can read it, a few mistakes are OK” on Twitter, Facebook, and LinkedIn.

    If Social Media platforms are ever to achieve true legitimacy as a business communications and marketing tool, we have to learn to respect our audience, respect the medium, and respect the message, just as we would any other channel. Would you leave typos and bad grammar in your direct mail, or in a print ad? Production designers, copy writers, proofreaders spend hours poring over copy to ensure accuracy and eliminate errors, and just because it’s presented electronically, it’s OK to have mistakes published for the public to view? I don’t get it, can someone explain to me why this is so?

    If these errors, omissions and poor usages are a reflection of the use of language in this country, maybe we should cast a critical eye on the elementary education system. If our kids are being taught that this is the way to speak and write English, then some body’s asleep at the switch and should be replaced. If we as a society condone such poor talent, then we are to blame as well – silence is tacit approval, and as such, saying nothing out of some misplaced sense of decorum is doing us all a disservice.

    There are those especially in the previous generation to mine, who value their language, and prize it’s correct usage and accurate representation. When you read a book or magazine or newspaper and come across a mistake or a typo, doesn’t it downgrade your opinion of the whole publication, reducing it’s credibility, and altering your perception of the accuracy of the information being presented? If they missed the basics, how accurate can their statements or research be?

    I wasn’t an English major in college, not even liberal arts (whatever that means), but I’ve had my homework and essays and reports and papers corrected by a professional publication editor according to Chicago style manual since I was eight, and after swimming in red ink for years, finally realized the importance of accuracy and correctness in the use of our common language. After a while, the ink started to recede and become more rare, and now with that training firmly embedded, I could focus on the message and how to craft it effectively, and not on the mechanics of producing the work.

    If everyone had this level of training (and if our teachers were willing and able focus on it, rather than being glorified babysitters and disciplinarians trying to escape each day with their skins intact, we might manage it), then such things as poor word choice (their vs there), bad grammar (where are you at), lousy spelling and other grammatical gaffs wouldn’t be present or tolerated, no matter who the poster is – it’s up to society to set the acceptable standard for word usage and language skills.

    It’s time to raise the stakes, lower the tolerance levels of bad language use, and revive the love of language that is the hallmark of great civilizations throughout history. The US is already working on becoming a second world nation, economically, educationally, in the areas of business and scientific innovation – let’s not add language skills to that list as well.

    If you agree with this rant (or think I’m full of it) comment below or subscribe to this blog for more commentary like this. And, don’t forget to pick up your copy of “The Marketing Doctor’s Survival Notes”

     

  • Ten Tips & Truths For Marketers

    Ten Tips & Truths For Marketers

    For those of you who are marketers, or if you’re a business owner or solo practitioner who acts in a marketing capacity (and who doesn’t), here’s a few things I’ve picked up over the years – they don’t have anything to do with social media, channel support, SEO or anything to do with a particular media.

    10) If you’ve worked hard to evoke an emotional response to your product in an ad or direct mail piece, for goodness sake give people a way to actually buy it! Make the response mechanism obvious, it avoids delay in responding.

    9) Put your address and phone number on your website, in an obvious place – not everybody trusts everything they see on the internet, and sometimes you just want to send somebody something or talk to an actual person. Why make me work at it?

    8) ASK for the order. Don’t assume that the audience will understand what you want them to do, no matter how obvious you think it is.

    7) Take the offer seriously in your ads and direct marketing communications – the audience will, and they will hold your feet to the fire for every possible interpretation you can imagine. The more transparent and clear you make the offer, the less confusion you’ll receive from the audience, and confused audiences tend not to buy things.

    6) Treat your house list like the gold that it is – you’ll never find a more receptive set of eyes and ears for your message than someone who is already predisposed to hear it. Respect the power it represents, and the people behind it.

    5) You can never know too much about the people you’re trying to reach – but you can interpret data incorrectly. Trust but verify, to paraphrase Ronald Reagan, and vet your data with real people and anecdotes – you’ll be glad you did.

    4) Make your copy simple enough that your 80-year-old grandmother can understand it. People’s attention spans are increasingly short, and they don’t have time to analyze your obtuse copy to extract your message.

    3) Sales letters should be long enough to compellingly tell the story, and not a word longer.

    2) Lists, design, artifice and devices don’t sell products and services, feelings do. Evoke an emotional response in your audience and you’ll move the needle.

    1) A target audience never bought anything – PEOPLE buy goods and services – whether it’s online, through the mail, over the phone or from a billboard. Reach out in an accessible, human way, meet a need or solve a problem, and the sales will follow.

    Seems like basic common sense, but ignore such simplicity at your own peril. You’d be amazed how many top flight professionals can’t apply these basic tenets to their everyday work and score a good number.

    If you found this helpful and would like to read more like this, subscribe to this blog above, and be sure to pick up a copy of “The Marketing Doctor’s Survival Notes”

     

  • Research Is A Cost-Effective PR Tool

    Research Is A Cost-Effective PR Tool

    All of Granite Partners’ consulting engagements involves some sort of primary research, either as part of a SWOT analysis to assess market position, or customer interviews or surveys, or investigations into new applications for existing products. But there are other uses for empirical research – one of those is for PR media exposure.

    If your company does field research, product development, manufacturing or offers a service, you might be able to use your own internal corporate data, and publish your findings as they apply to the general public, and promote those findings to increase awareness of your company.

    Generally, for a business to receive media coverage, they need to craft and offer a story that is timely, urgent, relatable and relevant. Under the right circumstances, research findings can be all of that and more. If you’ve invented a new chemical formula for use in your products, there is likely extensive research on that new formula regarding it’s safety, it’s physical properties, it’s applications, it’s effects when reacting with other substances, and a host of other attributes. If you look at those results in a slightly different way, you might find that there is news in that innovation. If you were to find that the new formulation enhanced lubrication between plastic parts, for example, or had other solvent properties when used against marker or crayons, or some specific stain, that product could be marketed to a whole new audience. Your research might be promoted as something like “New Formula Removes Crayon Like Magic – new Kid-Safe Formula”.

    Taken further, if you are a service company, say a cleaning service, and you regularly poll or survey customers after they’ve received their service. Typically, there would be questions regarding the customer’s satisfaction with the job, what they liked and didn’t like, did the operators do a good job, did they arrive on time, etc. It would be very easy to add a couple of questions to that survey regarding the use of organic cleaning products, favorite fragrance used in the cleaning process, how the customer gauged the “level” of clean achieved, and others. In aggregate, that data could easily be used in an eye-catching headline “Only 35% of Consumers Prefer Organic Housecleaning Products – Majority Feel Organics Offer Reduced Effectiveness” and the subsequent release copy could go into detail about how customers don’t show a preference for organic cleaners citing that they don’t clean as well, based on your own company’s primary research. It’s not a scholarly, peer-reviewed journal article, it’s not a scientifically-vetted study, but it’s honest, it has actual customer data included, and it shows a preference that might surprise readers – and what it really does is create a platform for you to gain some exposure for your company as a thought leader in the industry.

    We’ve found in our experience with clients that primary research always pays for itself in terms of marketing insight, and some data has revealed trends, shifts in perception, and new applications that have yielded millions in sales and new growth for the companies that initially commissioned the research. Forward-thinking companies usually understand the value of the data we uncover, and the most innovative among them use that data for multiple purposes, including those described above. When weighed against all the additional uses for the facts that the data reveals, research is one of the most cost-effective marketing tools you have in your toolbox. Take a few minutes one afternoon and review your internal corporate research data on your products or services or customer’s buying behavior, and see how many attention-grabbing headlines and stories you can wrench out of it – you might be surprised at the resources for media coverage you’ll find hidden there!

    If you liked this post and would like to learn more about this and similar topics, be sure and pick up your copy of “The Marketing Doctor’s Survival Notes” 

     

  • Who Do You Seek Advice From?

    Who Do You Seek Advice From?

    Before all you English majors go off on me, I know the title is making use of poor grammar -but “From Whom Do You Seek Advice?” doesn’t really “sing” when used as a headline. Nuff’ said.

    The real question is, how do you select, solicit and filter advice on the topics in your life and work that matter? Most folks have an informal network of influencers and advisers, people they turn to when they have a question, want to validate a choice or point of view. Some have a small circle, some have a very large network of various family members with a range of levels of expertise. Sometimes its just that you want to hear another opinion, from someone who thinks like you do, who will dilute and sugar-coat their stance and feed your own back to you, just as a feel good.

    But sometimes, picking the right expert really matters. Sometimes its a case of hiring a professional who you happen to know under other circumstances. Selecting a realtor, picking a doctor or dentist, finding a tax preparer or accountant, an attorney for non-criminal work. Most of those selections are based on referrals or references from our known network of advisers. Sometimes the professional themselves is part of the network! But how do you really make the choice? Is it emotional, is it pragmatic, is it price sensitive, is it strictly relationship based?

    Studies have shown that reaching those influencers is the most powerful way to prompt word-of-mouth transference of brand and product information. But how do you find them and reach them? Most of the advisers who are non-family are close friends from various stages of our lives. College roommates, fraternity brothers or sorority sisters, high school buddies, team members from sports activities, vendors of various services we use routinely – familiar faces. To find these people and gather them as a list for someone else is virtually impossible – until now. Social media does exactly that and more. Those influencers and advisers are now called “friends”.

    That’s the real power of social media – reaching the influencers of your target audience. If you wanted to build the killer marketing app, it would be one that selects all the Facebook pages from people that fall into your target demographic based on data presented on the pages, and selects the five most prolific friend commentators that appear next to a question mark. You’ve asked the audience for help with a question, and those top advisers answer it. Select them and market to them socially, and they will bleed that influence into the key purchaser. We can only dream . . . so far.

    For now, we’ll have to settle for joining the online conversation in a corporate but personal way, and hope that those influencers see us, hear us, and most importantly, believe us, so that they pass along the attributes we offer to their list of “friends”.

    Keep at it, the tech geniuses will eventually create the key that unlocks the real monetary power of social media, and when they do, look out . . .

    Did you find this interesting? You can more like this delivered right to your inbox weekly – for FREE! Don’t forget to pick up your copy of “The Marketing Doctor’s Survival Notes”

     

  • E-Mail Makes A Comeback!

    E-Mail Makes A Comeback!

    There was a time, not too long ago, where marketing pundits and other “experts” were saying that E-mail had run it’s course as a marketing media vehicle, that it was stale, that it’s open rate was too low, that the spam filters and firewalls had made it nearly impossible to get good results with e-mail marketing.

    Now those same pundits (of whom I was not one) are having to eat their words as major marketers are singing the praises of a well-crafted, simple e-mail to your hottest, most worked on lists. As usual, it’s the message, not the medium that counts, and a well-crafted effective anything will always beat the schlocky, hacky, abusive e-mail campaigns that desensitized audiences and killed response rates based on misuse and abuse of the medium and therefore the audience.

    As always, it comes down to personal approaches, real, workmanlike copy, free of typos, grammatical redundancy, slang and other silliness that kill credibility. E-mail is still mail, and it’s still sent to a single address, which means there’s a person on the other end. Simply write with that person in mind, on a one-to-one basis, and suddenly watch open rates soar, response rates double or triple, and sales shoot skyward.

    Never mind all the gimmicks, bells and whistles. I know of one marketer that sends out plain text stuff that nets him phenomenal response rates – not a photo to be seen, not even a logo, just good effective copy, real headlines that resonate with the audience – his secret? He writes to his Grandmother in his mind – if the offer is clear enough for her to understand, if the copy clean enough that she won’t cringe (Grandma was a Jr. High English teacher), if the intent clear enough and the benefits plain enough for her to like it, he’s got a winner. Yes, he primarily markets to an older audience – but these days unless you work for Disney, who doesn’t? Not a bad acid test – can your latest missive pass it?

    Keep it simple and keep it direct – speak to a specific person – if you personalize, be sure to get their name and gender correct, otherwise don’t bother. Nothing will kill response quicker than the feeling that you didn’t even care enough to send the right message – it’s like reading someone else’s mail, and it creeps people out.

    Keep the file small, keep the message simple – huge files still give viewers trouble, big images still get caught in spam filters and firewall screeners. The trend in design these days is to make the whole e-mail an image or series of images – and my browser is set to make me actually request these image files in order to view them – why make me work to see your information? It would have to be a heck of a headline to make me click three more times and wait for them to load, when I can simply hit “delete”.

    A well-researched list is still the key to success with E-mail. Most rented lists under perform, as e-mail addresses change more frequently than physical addresses. A self-selected list is best – based on a web login, or a previous response, or an inquiry, something you can verify and be sure is “opt-in” work very well – permission marketing is still king!

    Frequency is something you can debate all day, but suffice to say if you irritate your audience, your response will drop, and often less is more. I’d rather hear from you 4 times a year with relevant info than 8 or 12 times with fluff and nonsense. Save it for the good stuff, if you’re going to go to all the trouble to put together the mechanics of an e-mail, it might as well be a good one . . .

    Send me a copy of the worst e-mail you’ve received recently, and I’ll send it back to you with an analysis – FREE.

    If you found this useful and valuable, share it with your colleagues, and be sure and let me know by subscribing to this blog, above. Also, don’t forget to pick up your copy of “The Marketing Doctor’s Survival Notes”

  • Publish or Perish – By What Definition?

    Publish or Perish – By What Definition?

    In today’s social media-immersed, blogosphere saturated, media-driven, net savvy world, the nature of publishing has certainly changed. The very definition of publishing has changed as well – but is that a good thing?

    The Internet has provided the everyman a unique opportunity to broadcast their innermost thoughts to the world, no matter how inane or irrelevant, with no editing, correction or restraint. While this may seem freeing, in the end it has lead to a huge, nearly unnavigable mass of questionably valuable information.

    Now when researching a topic, you certainly have more information available and in a more convenient format – but is it valid, accurate, vetted and unbiased? Probably none of the above in most cases.

    This glut of information has given rise to some unique phenomenon as well – the speed with which urban legends develop and spread is breathtaking compared to just a decade ago. Viral information can be more damaging than real viruses, and travels faster, and with greater impact! Cyber-bullying is now an additional concern parent’s have to deal with, and the youth of today have diluted the accuracy, eloquence and power of their native English nearly to the point of unintelligability, in the interest of speed and convenience, holding true to an artificially-imposed brevity limit. Progress . . .?

    Internet publishing has some tremendous advantages, in speeding the exchange and sharing of scientific, philosophical, cultural, economic and ideological information. In the old days, when a book or magazine article was “published” in print, a whole host of scholarly, educated, experienced professionals read, fact-checked, edited, contributed to and proofed a work before it was released to the public. This may have slowed the release of information, but it gave the information a fighting chance to be at least passably accurate and honest.

    Today, most of those professionals have been rendered obsolete, and those skills are rolled up into a single individual – the author, right or wrong.

    What does all this have to do with marketing? Simply this: take care in assessing what you “put out there” to market your company, build your brand, promote your products – one false step not only travels faster than you can catch, but is permanent, residing in servers and living on hard drives around the world!

    Good luck all you nascent publishers out there!

    Be sure to pick up my published efforts, “The Marketing Doctor’s Survival Notes” – Amazon/CreateSpace can have it to you in a just a couple of days!