Posts Tagged ‘Marketing… trends and commentary’
Trust will factor big in recovery marketing

Real trust is hard to find.
Even disregarding the in-your-face reality that current economic instability was caused in part by shoddy business practices in the lending and investment markets, marketers during this or any recovery need to pay heed to the one factor more likely than any other to influence a prospect to become a customer.
Not price – it’s trust.
How the heck do you build trust, you may ask? In two words, Get Real. Everybody else is as tired as you are of being fooled again, and again.
How to Get Real and Earn Trust, genuinely.
• Introducing a product or service? Don’t jump the gun. All too often, companies announce a new product… and it’s not ready when they’ve said it will be. You look foolish at best, incompetent at worst.
• Provide valuable information. Yup, it can be hard work to say anything that hasn’t been said a zillion times. Every marketer knows this. (Hey, look, I’m writing about TRUST for heaven’s sake – not original for sure, but I believe it’s timely.) Consider some straight talk that’s not a pitch. Gasp. It can be powerful stuff. Using techniques that can include PR, newsletters, informative CDs, the Web, and more lets you position your company as an industry expert. It’s a great way – a REAL way – to build trust among customers and prospects.
• Keep at it. Hey, don’t give up! It takes time to build trust. Reach out to the same audiences again and again. Keep the messages consistent – if you appear to be inconsistent, customers won’t trust you.
• Consider testimonials. Real confirmation that others have delighted in your offerings is a confidence-builder for prospects.
• Listen to your customers. If you survey them, let them know you’ve heard. If they have a concern, address it. If they request technical support, make sure that it is good and that it is prompt. Again, hard work for real results.
• Know your market. The more you know about your customer’s business, the more that customer can rely on you for solid solutions.
• Please advise. Whenever you can, use a consultative approach to sales and marketing. That is, inform and advise more than you push the sale. After all, products and services as good as yours practically sell themselves… okay, okay, maybe I’m getting too optimistic here.
• That brings us to another point: Make sure the products and services you offer DO live up to their promises. Otherwise – poof – the trust is gone.
Marketing asymmetric ends of DNA strands to Qatar using advanced SEO.
Is it just me, or is business getting extraordinarily complex?
Oh, it’s just me?
I’ll pretend I didn’t hear that. Because here’s my thesis: nothing is easy anymore. Only the strong will thrive. Just as jobs for low-skilled labor are as scarce as flowers on Mars (or has that changed, too?) successful careers for high-skilled professionals in marketing, technology, industry, and the like are not for the weak of spirit.
Top five reasons why Work is So Complicated Now:
5- The oversupply of really smart people, devising new stuff. Innovations are everywhere.
4- Global everything, with all the cultural differences, language barriers, legal obstacles, and heavy competition that brings. (Leben ist schwierig.)*
*Life is difficult (German).
3- TECHNOLOGY.
2- Related to #3, new communication techniques, and a startling abundance of information sources, some of them reliable. Who can possibly read it all? Or remember 50% of what one would like to know?
1- Energy. And I don’t mean alternative. I mean the kind that you and I need just to keep up, let alone lead the pack.
How does a marketing professional serve clients brilliantly, especially when staffing is short, budgets are tight, and careers can live or die by short-term ROI? Few people can glide by for too long anymore without hard work. (And yes, I suspect that once, in a faraway time, perhaps the 90s, some mythical ad people could do just that. Probably they had talent, or charm. Something like that.) In a profession that has at times received and on a few occasions even earned the dubious distinction of being composed of hot air (yes, marketing, unfair as that may seem) the air has cooled, at least for the moment.
Now, working smart is critical. Just for starters, keeping up with industry news and trends is a marketing must. At vSA, we’ve become selectively engaged with Twitter, for example. We can use it to quickly get the word out about news of interest to important editors and our clients’ prospects. We’ve also seen that our clients can sometimes benefit as much by having customers make positive comments about their products on Facebook and post engaging videos on YouTube as they do from certain trade shows. More than in the past, we feel the need to monitor even relatively recent vSA work to assure that it’s up to the minute: for example, some Web applications we created to help clients sell online four years ago need to be updated… already and probably not for the last time.
But we have an additional responsibility as well. Outside of subjects that are clearly “of our industry,” it’s become more incumbent than ever to follow world news, fast-changing consumer trends, the mood of the nation, the day-to-day state of various segments of the economy, and more. Today I learned something more about Total Recall, a Microsoft research project based on the prediction that an archive of an individual’s digital data, largely generated without much of that individual’s thought, through GPS, cell phones, cameras, credit cards, health records and everything else he or she does, will someday create a pretty comprehensive record of that person’s life… and will thus change the way humans use and recall memory. Concepts like that, when they achieve traction (aside from being in my opinion pretty creepy) are always appropriated by business and marketing interests. So we marketers need to know about them. I also learned today that some prominent economists are concerned that the Obama administration has lost its way in pushing for regulatory reform of the financial markets and that these same economists fear that another economic collapse may be just scant (really scant) years away. Mmmm, hope they’re wrong, but better bear it in mind.
My point is that to be truly excellent as a high-level consultant in marketing today requires vision, diligence in meeting world situations face-to-face and the energy to continue to understand the ways people want to communicate now – and what these people want and need to hear. No hot air.
How refreshing: a new take.
At work… are you agonizing about reduced sales, lowered projections and the future in general? Fair enough; you’re not alone. At vSA, we regard this era as the right time to make sure we (our clients and ourselves) are ready for whatever comes next for this economy.
Marketing is much more than getting products and services in front of potential buyers, and now is an opportune time to step back, w-a-y back, in the process.
Perhaps you sell products for the building trades and business is terrible. Or you are a financial consultant, or an engineering firm.
Ask yourself some hard questions:
-Is business bad just because of the recession, or are there underlying forces at hand that go beyond economic cycles? Are our products still the best ones for the market? Are we delivering them well? Pricing them right? What’s our customer service like? What does the competitive arena look like now? Are people going to start buying this specific service again soon? Do we need to diversify? If so, how?
If these questions seem extreme, just imagine that you’re in the newspaper business right now. You’d be wishing you started responding to market change years ago! Hopefully, that’s not you. Hopefully, you have the time and resources to do this work right now, while it’s quieter and the phones are not always oh-so-tiresomely ringing off the hook.
Some tools to employ:
Do competitive research. Is someone else getting ahead of you? Diversifying intelligently? Changing their business focus? What can you learn?
Survey your customers. They can’t tell you everything, of course. As Henry Ford once said, “If I had asked my customers what they wanted, they would have said a faster horse.” (But at least he’d have known they wanted something faster.)
Do an environmental scan. What people and what processes can help you get where you’re going? Do you have the right staff, consultants, attitude? What needs to change?
Turn concern into proactive planning. Use this time for fresh thinking and an energized approach to the future.
Can we, as strategic planners, help? We welcome your questions and comments right here on the blog or through our office.
How to ramp up marketing for a recovery
We’re seeing a difference in the way our various clients are marketing right now.
The entrepreneurial, smaller to mid-size companies are continuing to put up a good fight. They’re either marketing aggressively and continuously, or adding new capabilities such as Web sites to augment their sales efforts. Our largest corporate clients are, in some cases, a different story. More oriented toward detailed budgeting and do-or-die profit projections (as well as being observed by anxious shareholders) their marketing has been somewhat more cautious, with projects going on hold or reduced in scope, and decisions put off by higher-ups until the next quarter or so.
As marketers, of course we’re pro-marketing. You can’t hide your way out of a recession. Silence is NOT golden in this case. However, as strategists, we’re also sympathetic to the way different organizations must do business.
So… what’s quick, affordable and can yield results exciting enough to stimulate the next activity?
Create a single initiative to motivate your customers. Run an End the Recession Promotion. If customers buy a particular new product or open an account, you give them a related gift or incentive… or perhaps a second product free.
Get people together. There’s no better way to laugh in the face of adversity than to make clear that your company is not taking part in any further downturn. Mind you, this get-together is special. It’s one in which you make your new energy, direction or differentiation clear either through an important announcement, an incentive toward buying your newest and greatest offering or a funny and motivational speech directed toward the audience’s interests. Build relationships, and then follow up after the event.
Call the media! Do you have a new product, market or major initiative? Celebrate it with a press conference. Include (as appropriate) product demonstrations, a tour of the manufacturing facility or an introduction to the creative force behind the new idea… you know, like meeting Steve Jobs.
Do it online. Spring clean your Web site. Does your Web site bore even you? Does it look like your Uncle Leon designed it? The Web is very important now as your public face. Use it to inform, inspire, communicate, and (yes!) perhaps even sell. It’s an investment that will pay you back.
Become a thought leader. Write a bylined article (or we’ll do it for you) about where your industry, or its technologies, or consumer demand is going. Publish it in publications that your prospects read. Reprint it and send it out to prospects. Let your salespeople hand it out as yet more evidence of your expertise.
Start a GOOD newsletter. Let it convey what’s new, why customers are lucky to work with you, why now is the time to invest in what you want to sell. Do it at least twice a year. E-news or print… it’s up to you.
Partner with another company. You sell window treatments, they sell windows. For a limited time, customers who buy windows get a 40% discount on any of your fashionable designs!
Add your own idea here. Inaction isn’t useful, but daring outreach is. You’ll be glad, whether in three months, six or a year that you moved aggressively while others did not. What will work for you?
Necessity
A saying from a friend: “The best boat pump in the world is a sailor with a bucket… in a very leaky boat.”
So true. In the last recession, spanning the years 2000-2001, our company started out with several sales professionals. We ended the recession with just one… that ONE was me. I believe I represented the sailor with a bucket. Who more than the owner of my small company, after all, knew how much bailing how many sales were required? This time around, the entire van Schouwen Associates staff is truly engaged and actively involved in seeking and leveraging all opportunities. In other words, we have more sailors with buckets now. This is better.
Of course, I keep making the mistake of looking at the Dow Jones Industrial Average, which is one global representation of the water level in our collective economic boat. The DJIA is currently under 7,000, pretty dismal, eh? I hope by the time I hit the “publish” button for this blog entry, it has gone back up. (Really, aren’t we running out of patience for this?)
You know best what bailing your own boat means to you. Perhaps, literally, it means your job isn’t what it used to be and you need to… sorry… BAIL and get a new one. (Okay, I won’t play with the word “bail” anymore, really. Don’t go. I’ll say “necessity” instead.)
For our company, necessity means we continually strengthen our prospecting and outreach efforts – something I think we’re good at anyway – because we need to keep the phone ringing. To accomplish this, we’re working our butts off. Not to put too fine a point on it.
The no-good sales call.
So much about business has changed. So few extended business lunches. So much cost cutting. So little hiring. Even the U.S. car companies now see doom for the corporate jet and maybe even those big bonuses for losing their shirts. But enough about them.
It goes without saying that our company has not yet qualified for a bailout, so we must slog on with making a profit.
We used to make phone calls to key people at companies we thought we could help – and then we talked with people on the phone. Strangers! It took courage. It used to work.
This calling thing appears to be pretty much over.
Let me ask you: how often do you take probable-solicitation calls from strangers when you’re at work? If the answer isn’t NEVER or ALMOST NEVER, you’ll probably want to add a caller ID feature to your phone.
So cold and nearly cold sales phone calls are teetering toward obsolescence. FINE, who wants them anyway? Ah, but what replaces the classic cold call for companies in which selling is sometimes a one-by-one process? Bringing people to your door to ask to work with you or buy your stuff? Emailing? Psychic messaging? (Okay, scrap that last one…)
Think of professionals who never advertise but who are always busy. They’ve built a reputation for excellence – and it wasn’t an accident. It likely took ongoing outreach, networking, PR, climbing the Google ranks, nurturing of word-of-mouth, viral marketing, and more.
It can be really hard to change the way you sell things. But take some time to think about this New Age of outreach.You know the saying that insanity is doing the same thing over and over and expecting a different result. How ARE those sales phone calls going for you anyway??
Start building a business reputation that opens doors so much better than the ol’ “My name is Milton Kong and I’m calling to ask you….”
Don’t slash that marketing budget just yet.
No, you aren't throwing it to the wind - really!
Of course the economy is shaky now, that’s pretty obvious. But let’s say you’re a marketing VP and your manager awaits your 2009 marketing budget. Or you own your company and need to decide…
What to do?
Impassioned self-interest aside, I’m going to suggest you continue to manage a solid marketing program. But how can you justify it to your boss… or yourself?
The big picture:
-The US government is pouring its heart and soul (and its apparently endless “spare” cash for which we’ll pay later) into an economic recovery plan so unprecedentedly massive that chances are good it will have a positive impact during 2009. (Okay, chances are maybe 55-45, but anyway…)
-Even though McCain has now assured us that he will win, there’s a very big chance that he won’t. And that is good news for the economy even in the short term. Barack Obama is a rock star. He’ll start his term with a groundswell of excitement among the public, both here and abroad, and that will support optimism and some economic improvements – even now, many Americans are optimistic that the economy will improve. Consumer confidence matters a lot.
-Marketers have better tools than they did in the past. As a prime example, detailed return-on-investment analytics mean that marketers understand (and can defend!) how specific marketing investments are panning out and no longer feel a pressing need to scale back for the sake of short-term savings.
-A recession does not mean that business stops in its tracks. In fact, some sectors continue to do well. Selling to the military? Selling products to kids (believe it or not, that’s one of the last places some families cut); health care products; anything that makes business, the home, or life itself more efficient; or anything that demonstrably saves money – you have an opportunity to shine right now. Oh, yes, and therapists apparently do very well in these times, but that’s just a side note!
-Not in such a great sector? Still, business, even if slower, goes on. Your smart marketing helps improve your market share while competitors are pulling back and missing opportunities.
-Pulling back and losing business is a vicious cycle. Cutting your marketing is a good way to start a downward journey.
-In all this, it pays to be smart. Being consultative, showing you have your prospect’s interests at heart, showing how your product or service solves a problem… now is not the time for vapid or unfocused marketing – as if there ever is such a time!
The little picture:
-Okay, if you have to cut a little bit from the budget, even after all I’ve tried to tell you, so be it, Jedi. Please make sure the dollars you do spend work especially hard – public relations, the Web, interactive communications, newsletters, and targeted outreach to very specific prospect groups should always be part of your plan.
It promises to be an interesting year. Your thoughts?
The confidence game.
Marketing is an interesting business when times get stormy. I’ve been doing this for awhile (okay, forever) so I’ve been through a few downturns and emerged with my company battered but intact. In the process, I’ve learned a few things, usually a bit late and always after a good deal of capital, both monetary and intellectual, has washed away.
What I’ve learned in general:
-Some companies will cut marketing budgets. Very few of the best companies will eliminate marketing budgets.
-Some types of marketing look smarter than others in a downturn – we’ve talked about this before – informative, feedback-based, solid, non-hype-y outreach is the way to go now.
What I’ve learned each time the economy has tanked since my 1979 college graduation:
-1979: I should have learned to type and skipped Tufts entirely.
-1987: Having too many of one type of client (commercial real estate development, in this instance) means that when that industry crashes, my firm may get as much as zero cents on the dollar. As, in fact, was the case. Urk.
-2001-2002: Oh, my my. Were we ever overstaffed! Were we ever too slow to downsize! And were we ever interested to see we could do as much work AND make as much money, with fewer people. Wow.
-2008: Panic is ridiculous. The markets are getting carried away now. Innocent people are selling their 401 (k)s and locking in huge losses. But I’m betting that, by about this time next year, we’ll have a reasonably stable, reasonably prosperous economy again. There’s too much government intervention, all over the world, to repeat 1929.
“In the long run, energy is fate.”
The words above have inspired me more times than I can count, not just for business but for every effort in which inertia or failure of nerve threaten to take the day.
I’ve been thinking that courage in business (and it’s safe to call it that right now) typically accompanies an inventive, independent approach. Just as I suspect that brave investors are buying into appropriate stocks while they’re in the dregs, energetic businesspeople are grabbing the chance to get their company name and products dancing in the minds of their customers right this very minute. They feel even better as they observe their competitors in hiding, afraid to spend money until “everything is all right again.” (And when will THAT be? If you know, you’re one of very few seers who does. Why wait?)
This may not be the time for an extravaganza of spending or a great show of flash-and-bluster. We agree on this. But public relations, sponsorships, interactive marketing, online surveys to show customers you’re listening… moves like that point out that your firm is a winner – in all seasons and through all conditions.
23 years running this business (Good grief!! Note to self, erase that indicator of my age before publishing post) have taught me that “thinking different” and being a marketing contrarian are signs of business intelligence.
Cynical, anyone? The communicator’s dilemma.
Sure, I’m way too emotionally involved this election season. But I consider the time and the hand-wringing an investment in my professional tool set, because this year’s presidential campaigns are studies in marketing, and very cynical marketing at that.
Which gets me thinking… how on earth can a communicator be believable when she has something “for sale”?
Personally, I look at everything the candidates and their cohorts do through a glass darkly. Picking Sarah Palin as the Republican Vice Presidential nominee? Don’t get me started about how cynical THAT was – and I so hope the women of America don’t vote for her just because she has XX chromosomes. Obama’s growing sympathy for the gun-totin’, God fearin’ working class? (Didn’t he say something about them clinging bitterly to something? Guess hangin’ around a few town halls in Pennsylvania wised him up…) Even the small stuff: Cindy McCain holding Sarah Palin’s new baby on TV? Awww… but I notice she REALLY doesn’t want that kid to barf on her dress. The cynic in me sees only a photo opp, not brilliantly handled.
Trying to learn from the mistakes of political campaigns… okay, so what about marketing products and services? The same problems can arise – it’s tough getting a cynical audience to believe anything professional PR people and other communicators say – even when it’s absolutely true.
Letting the truth be the point. That will help. The truth looks true. It sounds true. Maybe it’s funny, eye-catching or new. The truth doesn’t shift message just to be expedient. It doesn’t underestimate the intelligence of its audience. It doesn’t pull a bait-and-switch.
When you can’t say something good and true about the product or service you’re selling? No kidding – as a marketer, you should just say no. Save yourself for something worth talking about.
Integrity, over the long term, equals believability. I think it shines through – and that’s where my own cynicism ends.




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