davidpoulos.com

Tag: Management

  • The Power of a Question

    The Power of a Question

    Mitch Vandiver (at mitch@strategiescorp.net.) and The Strategies, Inc. Team put this together, and I thought it was perfect for my readers – it’s all about asking the right questions . . .

    Michael J. Marquardt, author of Leading with Questions: How Leaders Find the Right Solutions by Knowing What to Ask says, “You don’t have to have the answer to ask a great question. A great question will ultimately get an answer.”

    A school teacher shared this story. One day, as the children played at recess, a usually very calm, good-natured little boy hit a little girl, who was his best friend. The playground monitors rushed over as the little girl stood crying. One monitor immediately reprimanded the boy in an angry voice, “You can’t hit other people. That’s wrong! What were you thinking?! And, boys don’t hit girls!”

    Now, both children stood sobbing. The other playground monitor sat down with the children and asked only one question of the little boy, “Why did you hit her?” Through tears, he explained, “There was a bee on her and I didn’t want my friend to get stung.” The monitor glanced down and, indeed, laying on the ground by the little girl, was a bee.

    What a difference a great question can make! This true story is a brilliant metaphor for the times we should have asked more questions and didn’t.

    Effective and empowering questions serve several proposes:

    1. They create clarity – What did you learn about the little boy through one question?

    2. They construct better relationships – How did your opinion of the little boy shift when you understood his reason?

    3. They inspire people to reflect and see things in fresh, unpredictable ways and encourage breakthrough thinking – What would you ask the little boy to help him find other solutions to protecting his friend from bees?

    4. They challenge assumptions – What assumptions did the first playground monitor make? How did those change with one question?

    Open-ended questions do not seek specific answers. They allow curiosity and exploration. Good opened-ended questions can start with what, how, when, where, who, tell me, or I wonder.

    Great questions benefit organizations, teams, and employees by minimizing miscommunication from making assumptions, changing points of view, stimulating creativity, engaging critical thinking, developing ownership of issues, and encouraging problem solving ability.

    What great questions will you ask of others today?

  • Make Your Marketing Dollars Work As Hard As You Do

    Make Your Marketing Dollars Work As Hard As You Do

    Marketers are typically asked to justify their expenditures, to craft a nearly inviolate budget often as much as two years ahead of time, and to stick to it to control spending. Rarely are they asked if those expenditures are the most cost-efficient solutions, or if allocating more resources to a particular item might improve its resulting gains over above the spend, by scale or efficiency. Corporations with a culture of control focus more on the outflow than the value of the resulting inflow when discussing marketing expenditure. Based on years of experience with both winners and losers in the corporate and non-profit world, I can honestly say that this might be a losing approach to marketing.

    Corporate leaders often assume that marketing is ALWAYS doing the most cost-effective thing to achieve results, based on a cost-conscious culture and the nature of marketing as an accountable function. Spend “X”, and you can usually count on “Y” coming back. But what if you doubled “X” and “Y” quadrupled or quintupled? Would they have approved the additional expense at the beginning of the year, prior to the effort? Probably not. In some cases, more time is spent trying to justify expenditure than on creating the method and message of the expense. To me, that’s crazy!

    Fortunately, in today’s expanded culture of innovation, a business climate rife with entrepreneur-ism and start-up fever, fast-cycle test-fail-repeat operations are becoming more prominent, and with that comes an easing of the penny-pinching, along with a realization that “if we try ten things and six work, we’re ahead of the game” for marketing departments lead by enlightened senior executives.

    Finding such an enlightened marketing leader requires some work, but the effort is almost universally worth it based upon the game-changing results that can be had as a result of their efforts when supported by senior leadership. They are often cloaked in other experiences, other disciplines, and usually don’t fit the linear career paths that the HR Department is trained to look for. Such outliers can really move the needle, and are worth the effort to find. But that’s not the whole story.

    A quick analysis of your marketing expenditure will show you where the money is going, and each item should provide some indication as to what it’s returning for that spend, either in dollars, or results of some kind. If it doesn’t, some sort of metric needs to be “baked in” to that activity so that you can make it accountable. Once that’s in place in the budget, sort and rank the items by results, not by cost, and see if the order changes from the cost-based ranking. Comparing those two lists seems simple, but it can be an eye-opener when seeking an edge, by finding inefficiencies and reallocating resources to drive growth and revenue generation. Like the stock market or Las Vegas, you double down on the winners and bag the losers quickly, to mitigate risk and drive growth of return.

    The other advantage to this type of approach is that you avoid the “cheap trap” of not thinking large enough, based on a lack of faith in the results. Thinking bigger has a really strong track record of success, doing everything as cheap as possible doesn’t, because many great ideas, initiatives, campaigns and other activities die from capitol starvation before they ever get a chance to come to fruition. If the initial tests are even reasonably favorable, feeding that idea has a 2000% chance of succeeding over the one that breaks even and stays small. Good testing programs and solid research mitigate that risk even further, and will highlight even greater opportunities as results come in and new ideas surface based on their successes. It’s a good day when the winners spawn more winners.

    Good ideas, good research, patience and faith combine to drive success in marketing. As a famous marketer for a large consumer products company once was rumored to utter, “every dime I spend on events and marketing comes back to our company dressed up like a quarter.” When you scale up, double-down on winners, and feed the best ideas, that quarter quickly becomes a dollar.

  • Innovation: Bravery + Curiosity + Support = Advancement

    Innovation: Bravery + Curiosity + Support = Advancement

    As we effect change at various client organizations, mostly through redirecting the current marketing efforts, we often encounter some underlying resistance from some of the down-line managers. Most of this has very little to do with our efforts specifically, and has much to do with aversion or resistance to change in general. We are change agents by nature, indeed that’s the reason we are engaged is to effect change. If change wasn’t needed, we wouldn’t be there . . .

    The question often arises, “How do we mitigate this resistance and achieve full consensus throughout the company to drive the program forward successfully?”

    The answer often lies in two areas:

    1) We realize that you can’t please all the people all the time (to paraphrase Abraham Lincoln), and there will always be dissenters and those who don’t completely buy in to the new programs or processes. The way we’ve found success in handling those is to isolate, educate, reformulate, and redirect those individuals. This keeps them from spreading negative messaging throughout the firm, poisoning the well.

    2) We understand that much of the atmosphere of innovation we are trying to create comes from the roots of corporate culture, and so that’s where you start to effect the necessary changes.

    That all sounds good on paper, but what does it really mean to client companies?

    Like many such changes in corporate behavior, it all starts at the top. We work closely with CEOs so that they understand the impact of their downstream messages, and help them position the new elements in the proper light, so they can lead by example, both in action and words. Once the messaging of innovation is firmly established, it should be supported by new programs run by Human Resources, so that innovation carries an incentive and is rewarded. This clearly establishes the goals and guidelines for those individuals responsible for activating those new elements.

    Once that infrastructure is in place, mid- and lower-level managers can be directed both by specific goal and by example, to help create the atmosphere that supports innovation, building competitive teams, setting an agenda that drives innovation and rewards initiative, and stresses accountability.

    This trickle down effect needs to be championed all the way through the rank and file and out to customers, suppliers, vendors and support groups, so that it rings true no matter what angle the company is viewed from.

    More on this issue in a later entry, but for now, effect change, champion the positive effects, and guide the culture and the results will follow!

    If you like this article, and would like to read more like this, subscribe to this blog above and more will delivered to your inbox for free! Also, be sure and pick up your copy of “The Marketing Doctor’s Survival Notes”

     

  • Battle For The Bucks: Big Data VS. Good Data

    Battle For The Bucks: Big Data VS. Good Data

    With marketers, retailers and web pundits delving into the topic of Big Data, studying their Google Analytics report like it’s the Zapruder film and studying up on their compiler language, how does all that information translate into creating products that people love and that fly off the shelves?

    I contend that there are two elements of this, one is Big Data, which shows you a tranactionally-based road map of what’s popular, what people like, what they prefer given an unlimited number of choices, and can show you how people’s purchase decision gets made; and Good Data, which is gained through other means than digital, but has a digital internet component, and can show you WHY people prefer one thing over another, WHY they gravitate to certain elements or items, WHAT MAKES things popular, WHAT their needs might be in their daily lives BEFORE its been created and marketed.

    The two are different and both are extremely useful in putting together a cogent innovation program that can generate the new things we all crave and to marketing them effectively and making them popular and successful. One is only “better” than the other under specific constraints and circumstances. I tend to use both depending upon the project, Good data being the best and most useful to drive new product or service innovation, and Big Data the most useful for gathering and testing theorems and intelligence on applications and market positioning for the product once it’s been developed.

    True innovation is a brand new, never been seen before element, and therefore Big Data will not be able to provide you with any comparative data because there’s nothing to compare it to. I doubt the folks at Apple tried to sift through transactional data to see if anyone wanted an MP3 player the size of a lighter with a thumb wheel selector, but if you had asked individuals (primary insight research, Good Data), how they listened to music, where they listened to music most often, and how they WANTED to be able to listen to music (while running, exercising, swimming, in the car,), and why they couldn’t do those things with the current gear, those answers might have lead you to create the iPod.

    The wealth of Big Data spawned by tracked internet traffic, and the dearth of Good Data based on ineffective feedback loops, automated CS phone trees and do-it-yourself web-based customer service devices have isolated the bigger more established brands, those with a solid customer base, and a culture often lacking in specific innovation paths beyond incremental improvements f the current product line. That isolation will likely have a dampening effect on those firm’s ability to innovate over the next several years and beyond, if internal structural changes to the organization are not made and a comprehensive, skin-thin customer facing transparency established so that consumer input can be distilled into actionable intelligence quickly and efficiently.

    Those firms without an effective “Data Loop” to constantly feed the development teams a source of Good Data will slowly stagnate and become copy-cat innovators, while those closest to their own customers will clear a path to new product development that is facile, smooth and relevant on an ongoing basis, fostering innovation in search of customer happiness. Expensive? Not really, when considered against the cost of lost customer base, eroding market share, lack of attention to pirated technology due to inattention to customer need, defense of intellectual property infringement and a host of other ills facing a stagnant brand.

    If you think like I do, and want to help your company become a place that fosters innovation, comment below, or contact me via e-mail at dpoulos@granite-part.com or on LinkedIn.

  • Innovation – Does Your Management Style and Culture Foster or Hinder It?

    Innovation – Does Your Management Style and Culture Foster or Hinder It?

    Organizational culture is getting a lot of attention recently, as economic growth is tougher to come by and company profits even harder to generate. Where efficiency, productivity, and process used to get the attention of management gurus, the general impression is that those things aren’t sexy anymore, and that if you can create the “right culture” at your organization, it will be able to grow by leaps and bounds, leap tall buildings and take the market by storm, etc.

    Culture’s definition is often a bit diffuse, but for the sake of argument we’ll use this: The atmospheric environment within an organization created by the Senior executive and mirrored down the ladder to the rank and file, reflective of a set of values and preferences, and a vision conferred onto individual staff interactions that bleeds into their products and services and suffuses the brand. True, that still leaves much room for interpretation, but it gives you an idea of what the majority of workers are going for.

    But culture goes deeper in some cases than others. In almost all cases, it really starts at the top, with a communicated vision for what that senior executive wants that company to be, day in and day out. That vision is reflected in many aspects of daily life within the organization, from the physical plant layout, furnishings and decor, down to the paint on the walls in some cases, to the tone of the Employee Manual (or if there even IS one), memos and e-mails, the recording on the voice mail at the front desk, to how customer services treats customers,  and in nearly every other aspect of life in that hive every day. What holidays they celebrate and how many, how vacation time is viewed, how the management structure is coached, trained and their performance assessed are key to defining that corporation’s culture.

    But how does that culture affect the organization’s ability to innovate?

    I think it has the most to do with a sense of freedom borne of respect for the employees’ ability to work together for a common goal. That ability is derived through common and communal trust and a sense of obligation to the mission and to their co-workers. If you are trusted by your peers, and managers, and you trust your subordinates and direct reports to do the best they can all the time, to strive for continual improvement, and to work as hard as necessary to adhere to the goals and needs of the company as a whole, the table has been properly set to drive innovation around the current product or service offering, as part of that constant curiosity and need to improve the status quo.

    On the flip side, if management is constantly looking over the shoulder of direct reports, codifying each action and driving their efforts down a narrowly defined group of managed behaviors, that trust in and growth of their abilities doesn’t have much “elbow room” alongside the rest of the required actions, and innovation rarely occurs – they’re having too much trouble just getting through the day.

    Innovation comes from many quarters and from many unexpected directions, but somewhere down the line, it really stems from the freedom to be curious, to be able to find answers to the question “What if . . .?” If the answers to that question are never sought because there’s no value to exposing the answer, innovation will have a hard time taking hold and the organization won’t be able to nurture that spark into a meaningful flame of business brilliance.

    Don’t let your need for profitability smother creativity and innovation – five hours “wasted” finding out about a certain idea could be the best investment you ever make.

  • Consultants Offer Flexibility, Hands-Off Productivity

    Consultants Offer Flexibility, Hands-Off Productivity

    With staff sizes and budgets restricted or diminishing, and top executives up and down the ladder under pressure to do more with less each year, many savvy executives are seeking help among the seeming army of consultants of every stripe to get their companies on the profitability track. Are they finding success down that road?

    The idea of the consultant is ancient – Egyptian kings and pharaohs had “consultants” with specialized magical talents to advise them and point them in the right direction when governing the masses. King Tutankhamun had one of the greatest PR consultants ever seen, who told him that to the Egyptian people, big buildings mean big power, big statues mean big power – and Tut and other Pharaohs took this to heart and built the pyramids of Giza and other wonders of the ancient world.

    Consultants can be used for a variety of purposes, from adding moral support in difficult or uncomfortable political situations, to adding credibility to pet projects in communicating them to Boards or subordinates. The image of the unfamiliar man with the briefcase and the air of confidence in the boss’s office was born out of some particularly sticky board meetings in the 1960s by top executives at a large conglomerate who’s ideas were not being communicated effectively or credibly, and a CEO who’s head was on the block. Once the Board members heard the same message in a different way coming from the consultant, an expert in such matters, they approved the plan and the CEO was spared. The consultant in that case didn’t come up with the idea, he simply communicated it effectively and lent his credibility to the idea. This practice continues today with great success in companies and organizations across America. Communication by proxy can be used as an effective strategy if a number of conditions are met. One is that the idea or issue must have real merit on its own. A bad idea is a bad idea, no matter who presents it. Another condition is that the consultant be at least as credible as the staffer to the selected audience. He should be a known, or at least vetted, quantity, with the credentials to back it up. Once those two elements are in place, communication by proxy can be effective in getting new ideas implemented.

    Short Term Expertise

    Consultants have many other functions as well, and most departments within the organization can find a number of consultants that specialize in their particular areas of functionality to assist them. Sometimes consultants can simply be used as additional manpower, fill-ins for key employees on personal leave, plug-ins providing necessary functionality on short notice for the short term. These are not temps you can call in for a day or two while someone is out with the flu. They are highly-trained, experienced executives who have been in many different corporate situations and reached a level of comfort with the commonalities in procedures in their area between companies to be effective quickly. They are typically not used in situations where the term is shorter than a month, as the cost of lost opportunity for a stint that short drives the hourly rate beyond the return value. Expectations in this situation are relatively high, as the consultant is being asked to step into any number of situations already in place and under way, and gather sufficient information from internal sources to keep these projects moving forward effectively, in a very short period of time, but without injecting much of their own influence or changing the direction of the project. This is a tough gig, and successful consultants are to be highly prized and respected for this set of skills that make such performance not only possible but routine. When projects are critical, and the schedule is inflexible for any number of reasons, this may be a good option for mid-size to large organizations.

    “Special” Projects

    Some organizations use consultants as outboard manpower to plan and implement special projects outside the normal scope of the department or organization, or for projects that are of vital concern to the organization’s success but only come up rarely. Changing membership databases for a non-profit organization is a prime example of this type of consultant use. An IT or Association Consultant who has been through many such changeovers and data conversions can be an invaluable resource for such a critical undertaking that most organizations only face every few years. Hiring a consultant under such circumstances will expand and extend the organization’s scope of expertise for a short period, and take advantage of specialized knowledge that isn’t needed on a regular basis. The expense of the consultant is far outweighed by the savings gained by avoiding a misstep in the process and crippling your organization, however temporarily, while the problem is investigated and fixed. The consultant can prevent you from making a poor purchasing decision, and mitigates buyer’s remorse by making the correct match between user and product.

    [pullquote align=”left or right”]King Tutankhamun had one of the greatest PR consultants ever seen, who told him that to the Egyptian people, big buildings mean big power, big statues mean big power – and Tut and other Pharaohs took this to heart and built the pyramids of Giza and other wonders of the ancient world.[/pullquote]

    Sometimes that special project requires some specialized expertise in order to allow a “pet” project to be executed properly, and that expertise doesn’t exist in house. If time is a factor, and there’s no time for internal staff to develop that type or level of expertise, a consultant can be an excellent solution. The can work directly with your internal staff, provide the expertise necessary to move the project forward effectively, by-pass the internal chain of command and the inherent internal politics, and propel the project to a successful conclusion quickly and effectively.

    Guidelines

    There are some guidelines to keep in mind when using a consultant for this purpose.

    • When planning to include a consultant in the mix, be sure to make “room” for them both in the budget and in the schedule. There will be some initial ramp up, no matter how short, as they learn to work with the particular in-house players, and assess their individual capabilities. Leave a reasonable time for them to get acclimated and figure out who’s who in your organization.
    • Depending on the type of project, the consultant has been hired to provide expertise, advice and specialized services. This often requires change from the status quo, introduction of new ideas, and some assessment of the internal strengths and weaknesses on the team. Take the advice and ideas you’re given and make the most of it. Putting up roadblocks, creating obstacles, withholding information, and rejecting ideas out of hand are all a waste of time and money. You’ve hired him or her as an expert, treat them as such, and listen to them.
    • When planning to use a consultant, build into your plan sufficient staff time to manage the consultant, and the money in the budget to implement the ideas they introduce. You’ve hired an expert, but if you don’t leave room in the budget to put into practice the concepts they introduce, you’ve only done half the job. Even if you don’t keep the consultant in the picture during the implementation, you still need to fund the project sufficiently to be successful.

     

    Most good consultants in most fields have learned to work with a bare minimum of supervision or management. If you carefully outline the goals for the project, introduce them effectively to the internal staff, and provide the resources and the communication pathway for them to get accurate, unvarnished answers to questions quickly, they will take the ball and run with it. In order to keep them from veering too far from what you envision a success to be, some check-ins or milestones for approval should be built into the project schedule. That way you can adjust the course at critical junctures before they go too far off the map. Too many of these can erode the effectiveness of the consultant and doom the project, so avoid the temptation to micro manage. You had the foresight to hire them, now let them do their thing. Too few milestones can lead to some surprises, when the end of the project approaches and the final product is not what you envisioned and you don’t know why. A happy medium and a light touch usually lead to a successful outcome.

    [pullquote align=”left or right”]When planning to use a consultant, build into your plan sufficient staff time to manage the consultant, and the money in the budget to implement the ideas they introduce.[/pullquote]

     

     

    Finances

    The financial arrangements for consultants vary to some degree, depending upon the industry, the scope and duration of the project, and the nature of the organization. Many work on an hourly rate, which are standardized to some degree based on what the market will bear for the size of the projects, the area of expertise, the reputation of the consultant, and the geographic area. A Human Resources Consultant will likely charge a small company in Tennessee less per hour for a candidate search than a large company in New York City, and the company’s expectations and needs will likely differ as well. The rate can be negotiated up front, before the project starts, and the terms are often outlined in a binding legal contract. Most Boards insist on such a document in one form or another, to help provide the company some recourse and some protection for both parties should outcome turn out to be less than expected.

    Some consultants in certain industries work on a fixed project fee. This is negotiated up front as well, once the scope and extent of their involvement and the size of the project has been agreed upon. A contract is often required for this arrangement as well, with some contracts including an incentive bonus for successful or early completion or for staying under established budget guidelines. On rare occasion, a consultant will work on a contingency, similar to a tort or personal injury attorney. Especially in forensic financial work, collections, auditing, or tax work, these arrangements exist where the consultant’s fee or payment is tied either directly or indirectly to the money they are able to recover or save the company.

    No matter what the arrangement, no matter what the industry, selecting which consultant to work with is a critical step to a successful outcome. A recommendation from a colleague who has used someone for a similar project is a great start. Other sources include your local Chamber of Commerce, and industry-specific trade publication editors. The local College or University department most closely aligned with your industry is also a good source of “experts” in your selected field. Once you’ve gathered a few names, a brief phone interview is always a good idea. That alone can whittle the field down to two or three suitable candidates. Their availability, and responsiveness will give you an idea as to what they will be like to work with on your project, and you can prepare some industry specific questions to ask, to see how close to your industry and your project they are currently. Once these are complete, a personal interview is in order. This will give you an even better idea as to the character of your candidates and their capabilities. Each candidate should furnish a list of client references, and they should be rigorously checked before making a decision.

    Once a decision is made, financial arrangements can be made, and your project can begin.

    Consultants can be a vital part of your organization, expanding your capabilities, allowing you flexibility in staffing to meet short term needs, and let you take advantage of expertise beyond the level you are able to train in house. Used wisely and strategically, consultants can help you meet goals, complete new projects, grow your organization and function more efficiently and profitably.

    If you found this helpful or insightful and would like to read more, subscribe tot his blog today! Don’t forget to pick up your copy of “The Marketing Doctor’s Survival Notes”

     

  • How Do You Know It’s Time To Get Some Expert Help?

    How Do You Know It’s Time To Get Some Expert Help?

    Adding a senior employee can bring short-term costs but long-term gains. Here’s how to tell if the time is right for your business.

    When you’re the owner of a small business, knowing when to hire a senior employee isn’t always easy — but it is important. By freeing you to focus on high-value activities where you have true expertise, it can help you take your company to the next stage of growth or, in some cases, simply ensure its continued viability.

    “Entrepreneurs are accustomed to hiring ancillary employees and pawning off smaller tasks on them,” observes Dave Poulos, chief consultant at Granite Partners LLC in Sparks, Maryland. “But at some point, they discover that they’re working their tails off and still can’t be everywhere they need to be or do everything they need to do. That’s when they need to make a high-level hire.”

    While cost can be an issue, Poulos says companies should consider how much they might be able to boost revenues with a new player on the management team. Ideally, it will more than cover the additional salary.

    Chuck Cohn, CEO of Varsity Tutors, a Washington, D.C.-based tutoring service, says that over the past several years he’s “fired” himself from various duties and brought in expert replacements to handle, among other things, bookkeeping, sales and advertising. “Each time it’s had a dramatic impact on how effectively that role is done, my happiness, and our ability to grow — because my time became available for higher-level projects,” he says.

    Wondering whether your company is a candidate for a high-level hire? Here are five signs it may be time to expand the executive suite:

    1. You’re working long hours but missing operational goals or revenue targets. Julie Sue Auslander, president and chief cultural officer at cSubs, a New Jersey-based provider of outsourced subscription services, says a bell tolled for her when she realized that she was doing “a lot of work” but never seemed to have any money.

    “I hired cheap, tried to do it all myself, hired multiple part-timers, and, as a result, missed out on growth opportunities,” she says. Taking a new tack, she outsourced payroll and brought in a bookkeeper who discovered that some invoices were being paid twice or in the wrong amount while some of her own clients weren’t being billed at all. “The revenue I realized from her correct work covered her salary,” she says. “In addition, offloading those activities freed me to do work that nobody else could, and in turn helped my company reach the Inc. 5000 list.”

    Auslander has since hired a part-time controller, which has helped her secure additional funding for her business, enter comfortably into strategic partnerships, and even plan an exit strategy for herself.

    2. Critical parts of your business are proving error-prone or inefficient, and you don’t know how to fix them. Eric Thomasian, head of business development and strategy for Blayze Inc., an online video company, says his firm knew it was time to hire a chief technology officer after its technology systems, which had been outsourced to a third-party developer, turned out to be bug-ridden and not true to their original design.

    “As soon as we made the hire, our CTO hired more coders to create an internal technical team,” Thomasian says. The results were impressive. Turnaround time on system changes rose by 800 percent, funding became more easily attainable because investors felt safer when they could actually meet the company’s technical team face-to-face, and customer satisfaction increased by 90 percent.

    3. Essential tasks are going unfinished. Brianna Sylver, president of Sylver Consulting, a business consultancy with offices in Chicago and Brazil, says she knew it was time to bring in high-level help when “we got into a situation where I needed to be able to duplicate myself in order to get everything done.” After documenting her specific pain points, she brought in a director of global insights and innovation in May 2011. “The results have been fantastic,” Sylver says. “She’s a great addition to the team in multiple ways and has helped us grow as a company.”

    4. Business initiatives yield poor results because you’re not an expert in that facet of your business. Brock Blake, co-founder and CEO of Lendio, an online service that helps small businesses find bank loans, says he decided to hire a vice president of marketing about a year ago after realizing that his own marketing initiatives weren’t helping the company meet its goals. “I wasn’t cut out for that job,” Blake concedes. “We were just going in circles.” After a three-month search, Blake found the right person to take the job, and the results, he says, have been phenomenal. “We’ve doubled in size, both in revenue and in our number of employees.”

    5. You’re continually telling customers you can’t meet their needs. “If your customers are constantly asking, ‘Do you have this?’ or ‘Can you do that?’ and the answer is always ‘No, because we don’t have time,’ you’re making a mistake,” Poulos says. One of the advantages of being a small business, he argues, is the ability to act quickly and nimbly to meet customer demand. “The answer to ‘Can we do?’ and ‘Do we make?’” he says, “should almost always be ‘yes.’”

    Making a high-level hire can be intimidating, especially if you’re accustomed to doing everything yourself. But it can also make you happier and more productive, and your business more profitable.

    For more like this to maximize your business growth curve, pick up your copy of “The Marketing Doctor’s Survival Notes”

     

  • Just Like Rodney, Marketers Get No Respect . . .

    Just Like Rodney, Marketers Get No Respect . . .

    I’ve been reading and absorbing a lot of chatter about the level of respect marketing professionals get (or don’t get) in companies across the nation. There is some debate as to how to justify and validate the need for such positions as CMO, Marketing Director and Marketing Manager – debates that tend to ignore the elephant in the room. The bottom line in most of these discussions is that if nothing is bought or sold, then there really is no “business”, and that without the skill of folks internally in a marketing capacity, regardless of title, no one would be aware that the potential for commerce with your business exists, and therefore no transactions could occur. So based on that logic, without marketing, there is no business. Yet, there is an ongoing debate as to why such people are needed, and what their value to the organization might be.

    Why is this?

    Is it because the rank and file are jealous that the marketing people seem to have all the fun – planning and attending big events, creating collateral, going on photo shoots, speaking with media editors and television stations, creating commercials, and the like?

    Is it because other employees think they could do the marketers job, it doesn’t look too hard and they have fun, so why can’t I contribute to that?

    Is it because with so many marketers out there, there must be a reason everybody picks that, it must be easy?

    Is it because they have a larger budget to work with, and sometimes a larger staff over which to divide the work?

    I’ve heard all of these postulated in one form or another, and many others as well. I’ve sat in meetings where senior executives questioned the efficacy of the entire marketing department’s efforts in the face of 10-20% business growth directly tied to specific campaigns! When the economy slows, such complaints often rise in volume and stridency. Apparently a rising tide floats all boats, but when the waters recede, the marketers that made the boat and kept it afloat are no longer effective . . .

    As marketers, it is our job to facilitate contact and commerce from without the company by working from within the company. There needs to be a belief that an investment in marketing activity drives commerce far in excess of it’s cost, and that beyond that, criticism of the mechanisms employed and the means brought to bear are so much sturm and drang from naysayers. If a culture of marketing is formed and supported at the top of the organization, and communication of those efforts within the organization is fast, accurate and appropriate, that culture will flourish and all members of the company will prosper.

    So, how do we spread the word of such simplicity, and earn the respect we deserve as facilitators of transactional commerce?

    1) Do the job well, and get results that can be measured and proven.

    2) Stop worrying about who gets credit, or blame, and focus on results.

    3) Closely tie effort to results, and promote those results in reasonable, detached fashion – leave the ego out, and just state the facts without the superlatives.

    4) Drive the volume of effort upward – not all ideas are good ones, and not all executions are perfect. But the more you attempt, the more likely one will be a success.

    5) Innovate new ways of thinking and doing that drive success. Open your mind to input from unusual quarters, and give it it’s due diligence. You never know where the next great idea will come from.

    6) Show that the work you perform every day has value to the entire company, that everybody wins when marketing is effective.

    When sales slow down and the economy contracts, many companies go into “emergency” mode, cutting costs, laying off workers, creating an environment of fear and uncertainty, and delaying or outright removing opportunities for innovation – exactly the wrong reaction in a crisis. Many companies have been operating this way since mid-2008, and after six years the fear has turned to something else, killing creativity, halting innovation, and limiting possibilities for success.

    This presents an excellent opportunity for the marketing department to shine! Teach the others how to do more with less – we do it every day! Show others how to think and work your way out of a problem – we do it hourly! Tell others how to prime your thinking to view situations rationally with an eye toward exploitable opportunity – we do that constantly!

    Give away the benefits of your talents as a marketer, and the respect you deserve will return to you ten-fold – that’s a heck of an ROI in anyone’s book.

  • You Gotta Have A Plan!

    You Gotta Have A Plan!

    After thirty years of helping commercial companies and non-profit organizations enhance their effectiveness through high-impact marketing efforts, we’ve seen some patterns develop. It appears that there is a correlation between how effective these companies’ marketing efforts are, and wait for it, the specificity and thoroughness of their marketing plan. It’s not budget, it’s not necessarily vision, it’s not brilliance in creative execution – it’s how well they draw up a plan and stick to it.

    Imagine a fighter pilot, maneuvering a $150 million aircraft (small one), randomly, changing course whenever clear skies present themselves, dropping ordnance on whatever targets strike his fancy. He might hit the assigned target, at the right time, in league with others also scheduled to attack that target. But the odds drop precipitously with each misguided maneuver and missed “opportunity” bomb dropped on his way there. That’s how some companies run their marketing operation, wandering from media outlet to outreach platform to new endeavor, without ever consulting the plan, if one even exists. This kind of rudderless marketing is nearly always doomed to failure, and results from a lack of vision, lack of discipline, lack of planning.

    The best way to avoid this is to actually go through the often painful but always beneficial exercise of creating a specific, measurable, organized, well-researched and grounded marketing plan, and disseminating it to EVERYONE, so that all stakeholders are in sync and can be involved in carrying it out in an informed way. Make a plan, stick to it, carry it out aggressively, and measure your results routinely, and you’ll be pleasantly surprised how much more successful your efforts will be.

    There are loads of publications, books, blogs etc out there to help you with this task if you are a young start-up with no experience at planning. Each one is different, each is unique, but each share several key elements, including measurable specific goals, time milestones, assigned responsibilities, and available resources. Fully complete plans include media choices for outreach advertising and PR activities, brand characteristics, audience profile, media schedules for placements, creative cues for progressive campaigns, drop dates for mail, e-mail, and designated resources and personnel for all tasks including social media activity.

    Big job, but one that not only saves time and money over the year by reducing missteps and waste, and one that removes the guesswork and allows everyone to move forward confidently and aggressively toward achieving the goal. How simple is that? Apparently not very, based on a resent study showing that nearly 40% of businesses with over 20 employees have no written marketing plan!

    If you need help, get it. If you can’t find it within, hire it! If you can’t stick to it, post it and have someone else hold you accountable. Ultimately, it’s plan now, or pay later – your choice.

    If you agree with these assertions (or disagree) drop me a line and let me know what you think. If you found it valuable, subscribe to this blog above, and be sure to pick up your copy of  “The Marketing Doctor’s Survival Notes” 

     

  • What Salespeople Want Prospects and Clients To Know

    What Salespeople Want Prospects and Clients To Know

    (An open letter from Salespeople the world over to clients and prospects)

     

    Dear Prospect,

    As an ethical, professional, courteous sales person, there are some things I repeatedly encounter when interacting with clients and prospects that cause me some concern, and I think with a little education we can clear them up and interact on a more effective and profitable basis.

    1) I’m not trying to trick you, steal from you, or talk you into something that you don’t want or need. I’m a professional, and as such, know that it’s much more productive and profitable for me to keep long-term clients than it is to turn and burn a host of one-time victims. I thrive on repeat business, and the last thing I want to do is pull a fast one on you or take advantage of you.

    2) The more you tell me, the better I can help you achieve your goals. You wouldn’t lie to or withhold information from your attorney, and you shouldn’t be lying to or holding out on your accountant, so why do you feel you need to be guarded in your conversations with me? Are you afraid if I learn something I’ll use it to talk you into buying more? I’d rather solve your complete problem right the first time, so you’ll refer me to your friends.

    3) I talk to people all day long for a living, often about problems similar to yours. I might have picked up a thing or two from those conversations, and that makes my knowledge more complete and recent than yours is likely to be. That knowledge deserves some respect.

    4) Just because you think you can’t afford what I have to offer at the moment, doesn’t mean it’s a waste of my time to get to know you and your challenges. Take the meeting anyway, you might be surprised at what you learn, and at how I can help you no matter what your budget. Maybe not right this second, but at some point along the way.

    5) The more you trust me, and the better and reciprocal our relationship becomes, the more value you derive from it. Salespeople are out on the streets all day learning and solving problems in creative ways. I know things that might be of help, at no cost to you, if you just give me a try. The risk is really minimal, and the return can be tremendous.

    6) I have an ethical obligation to keep your private and corporate information to myself. I also have an ulterior motive to do so. I won’t last long if I go around blabbing client info to other clients, will I? I’m a professional, in it for the long haul, and keeping quiet serves any number of purposes.

    7) You won’t hurt my feelings by calling and telling me you bought from someone else. As a professional with some experience, I’ve developed a pretty thick skin, so don’t worry about my reaction, I can assure you it will be professional and appropriate. Please have the courtesy to return follow-up calls, don’t just let them go to voicemail and ignore them, hoping I’ll get the message – it’s rude and counterproductive.

    8) We can all use a hand once in a while. If I’ve done a great job, tell me so, and then tell two colleagues who can also buy from us as well. That’s the real currency salespeople live off of, referrals. It takes thirty seconds, is painless and free, and would really make my world better.

    9) The reverse is also true: if I screw up, please tell me quickly so we can fix the problem, get a solution worked out, patch things up and move on. Don’t let those issues fester and then just stop returning calls for no apparent reason – it’s not healthy.

    10) I’m just as anxious to solve your problem as you are to get it solved. The sooner we stop dancing and start producing, the faster we’ll both get where we’re going. I’ll be happy to answer any questions for your superiors, cover your behind, make it right, do whatever is required to protect our relationship, so stop worrying about it and start fixing it sooner rather than later.

    Hope you find this helpful in our interactions in the future. I think you’ll find if you keep these things in mind, you’ll get more of what you want, at lower cost, faster, and with greater enthusiasm all around. Be the hero of your own situation, and help me help you!

    Sincerely,

     

    Joe Salesperson

     

    If you found this enlightening and valuable in your business pursuits, be sure to sign up to receive this blog in your inbox regularly. And don’t forget to pick up a copy of “The Marketing Doctor’s Survival Notes”