Posted by Mark Brousseau
In today's business world, "business as usual" is likely to put you out of business. If you're using the same old marketing strategies today because they brought in business in years past, you're in danger of being pummeled by your competition. In order to keep your customers happy (and happily spending!), explains Maribeth Kuzmeski, you have to get their attention, and that means your typical tried-and-true marketing tactics aren't going to cut it anymore. To beat your competition, she says you have to stand out and find ways to be you—uniquely!
"With all the noise in your clients' and potential clients' daily lives, it certainly hasn't become any easier to attract attention and appeal to your target market," says Kuzmeski, author of the new book ...And the Clients Went Wild! How Savvy Professionals Win All the Business They Want (Wiley, 2010, ISBN: 978-0-470-60176-1, $24.95, www.AndTheClientsWentWild.com). "But for your business to survive, you have to find ways to cut through that noise. Attracting attention often means that you have to step outside of the current norms and stand out."
If you aren't sure where to get started, Kuzmeski suggests taking a cue from other companies that have taken innovation to heart and used it to successfully win and keep customers.
Read on for some innovation inspiration from companies that found ways to make their customers take notice—while sticking with their values:
The Difference Maker: Buc-ee's
The Dared to Be Difference: Banking on bathrooms. Sometimes what your competitors consider to be "unimportant" may just turn out to be the differentiation that gets customers coming back for more. Buc-ee's gas stations—located throughout Texas—have focused their number-one offering on what people dread most about stopping at a gas station: the bathrooms! Each of the 30 locations has incredibly clean, substantially sized bathrooms, along with full-time attendants to keep them in tip-top shape. Buc-ee's built their entire business around the bathrooms—a feature they knew they could use to differentiate their business.
"This is a great example of how looking at things from a different perspective can really pay off," Kuzmeski says. "Instead of focusing on what clients liked about their industry, they chose to plan their strategy around what customers liked the least and improve upon it. Think about what people dislike most about your industry, service, or product offering. What solutions can you offer? It's a great way to differentiate yourself from your competition and to create some buzz in the process!"
The Difference Maker: Odwalla
The Dared to Be Difference: Juicing with a conscience. Juice company Odwalla was founded in Santa Cruz, California, in 1980 by Greg Steltenpohl, Gerry Percy, and Bonnie Bassett. The trio took the idea of selling fruit juices from a business guidebook. They began by squeezing orange juice with a secondhand juicer in a shed in Steltenpohl's backyard. Their plan was to make enough profit to help fund music programs in local schools.
Odwalla was driven by a corporate conscience and a goal of leading the public toward a closer-to-nature way of nourishing their bodies. The juices were very highly rated for taste. But the true success came in the way that they appealed to their customers. The founders hired marketing and advertising experts and created what they called their "Drink Tank"—a group responsible for developing and managing the Odwalla brand. In building the brand, members of the "Drink Tank" focused on authenticity, alignment, clear narrative, and the value of a strong corporate culture.
"With very little advertising, Odwalla differentiated their brand by extolling the benefits of drinking and supporting a 'juice with a conscience,'" says Kuzmeski. "As a result, people cared and followed and bought. Odwalla appealed to their customers' consciences and it paid off. Essentially, they called their customers' consciences to action. But the strength of that call to action led them to success. How strong is your call to action? Do you frequently tell your customers what you want them to do? It can be an incredible way to drive your customers and potential customers to do exactly what you want them to do."
The Difference Maker: Geico
The Dared to Be Difference: Ensuring brand awareness. When you think Geico, what comes to mind? Perhaps their slogan, "Fifteen minutes could save you 15 percent or more...." Or maybe that gecko with the British accent. Or the stack of money with the eyeballs that seems to distract and attract everyone near it. Or those oft-offended cavemen. Or maybe—just maybe—you think of all four! Geico has done a particularly remarkable job at grabbing attention for their insurance products. And they've done it by frequently and consistently distributing their simple and somewhat annoying messages to establish brand awareness.
"For Geico, frequency of their messages has brought them incredible brand awareness," explains Kuzmeski. "You don't have to have millions to spend on TV, radio, and print advertising to achieve the level of recognition Geico has achieved. What Geico has done is simply repeat, over and over, their message to their prospects. Think about what you can do to repeat your marketing messages to your target market. Do you frequently repeat your core benefits or offerings to your prospects? It's a simple tactic that can yield high results."
The Difference Maker: The Australian Government
The Dared to Be Difference: Offering the world's best job. The Australian Government promoted what they described simply as "the best job in the world" with a creative and extremely successful Internet campaign. The position they were advertising was a six-month contract to be caretaker of a series of islands in the Great Barrier Reef. The government released the story through traditional media (Reuters) and then sustained the buzz over an array of online networks including YouTube, Ning, Twitter, and Facebook. The contest's website received one million hits the day after its launch when the campaign's goal had been to receive just 400,000 hits over the course of the year. Furthermore, the program attracted over 34,000 applicants and generated over $70 million worth of global publicity.
"The lesson here is an important one," asserts Kuzmeski. "You have to evoke an emotion in your customers if you want a response from them. Whether it's hope, love, happiness, anger, or even hate, you want them to feel something. When people are passionate about something, they will act on it, tell their friends about it, and get involved. Think about what messages your company can convey that might provoke an intense reaction."
The Difference Maker: Vistaprint
The Dared to Be Difference: Giving it away for free. As a global company, Vistaprint employs more than 1,850 people, and ships to more than 120 countries around the world. The secret to their huge success? Business cards. Vistaprint wanted to offer their customers something that no other printing company did, so they decided that their hallmark would be jaw-dropping value. By offering 250 business cards for free, with a nominal $5.67 shipping and processing charge, they were able to appeal to their target market: cost-conscious small businesses. Today, 66 percent of Vistaprint's business comes from returning customers. In the first quarter of 2010 alone, they acquired 1.4 million new customers—many who started with a free order.
The Difference Maker: The Bargains Group
The Dared to Be Difference: Teaming up for A-level customer service.Jody Steinhauer began The Bargains Group in 1988 from her kitchen table by purchasing a variety of different clothing and reselling it to discount clothing stores. Today, she runs a multi-million-dollar firm with over 4,000 different items for sale, but the most interesting aspect of the company is its employees.
The Bargains Group is a discount wholesaler of promotional business products, family clothing, accessories, gifts, toys, bedding and linens, personal hygiene products, and tradeshow promotional materials. So how exactly does a small firm with only 20 employees manage to make millions every year without offering prices much lower than their competitors? It's simple: They hire the right people. By focusing on hiring fun, vivacious people who believe strongly in the culture of service, they are able to actually service each of their customers personally. They don't even have a voicemail system!
"While a lot of firms advertise how 'different' their people are, or how they focus on service, The Bargains Group actually proves this assertion," says Kuzmeski. "They don't advertise or employ salespeople—yet they manage to make millions of dollars selling their products. Make sure that your staff is a differentiator for your company. There is great value in good customer service. Happy customers will not only stick around, they will also spread the word!"
The Difference Maker: Dillard's Septic Service
The Dared to Be Difference: Doing the dirty work (literally). James Dillard, owner of Dillard's Septic Service in Annapolis, Maryland, runs a business that most others might consider "beneath" them. Yet Dillard earns a six-figure income doing what many of us would call mundane, boring, or downright disgusting. An October 10, 2007, article in USA Today by Del Jones, entitled "A Dirty Job, But Someone Has to Get Rich Doing It," featured Dillard and other business owners who have entered into careers that many others simply would not. And it is a potential avenue for business owners who are looking for a way to generate more income. In fact, in the Forbes 400 list of the wealthiest Americans for 2009, less than glamorous fields and products—including discount tires, roofing, salsa, lumber, and tequila—have produced extraordinary income.
"You might not consider these to be businesses that would create such great wealth," says Kuzmeski. "But all of these business owners found their niche, and, through it, their differentiation. Think about a product or service that you can offer that no one else will. You don't always have to be wracking your brain to come up with a product or service that is better than anything your competitors offer. You can also come up with a product or service that they simply won't offer. Products or services that others are afraid to touch can mean big opportunities for you!"
The Difference Maker: Man Cave
The Dared to Be Difference: "Manning" up before the rest. Who would have thought a Tupperware-type party for men would be a good idea? Cofounders Nick Beste and Kevin Carlow saw the success stories from female-centric companies like Tupperware, Silpada, and Partylite and thought, why not? As a result, they created Man Cave, an in-home party where hosts throw "Meatings" complete with a set of "Man Laws." For years, thousands of companies have demonstrated and sold products to groups of women in their homes. Now Man Cave does it for men. They aren't just the leader in their industry; they ARE the industry—and they anticipate crossing the $3-million mark by November 2010.
"Don't shy away from an idea just because it's never been done before," Kuzmeski explains. "In fact, discovering an untapped market can be like striking gold in this economy. Instead of following trends, you have to be brave enough to be a trendsetter. It can be the gateway to a big idea and a big payoff."
The Difference Maker: Realtor and Inventor Jean Newell
The Dared to Be Difference: Recognizing it's not what you know, it's who you know.
Veteran Realtor Jean Newell had an idea for her fellow real estate agents. She invented a personal utility pouch (PUP)—a multi-zippered mini-pack designed to carry all the technical tools, keys, contracts, and more that a real estate agent needs. Judging by the initial reaction she received, she knew she was on to something that people wanted. Her objective was to get on QVC, but she was turned down by gatekeepers again and again.
So she decided to reach out to her network, which consisted of other agents, buyers, sellers, etc., and ask for their help. She sent out an email requesting help to find a contact person at QVC for her new product and received an overwhelming response. Within a few days, she had 40 emails from people providing contacts at QVC. She created a quick video to show how she would promote the bag and sent it off to QVC. Within two weeks, she was accepted! Since her initial appearance on QVC, Newell has become a sales superstar and media darling.
The Difference Maker: Toy House
The Dared to Be Difference: Advertising curiosity. In Jackson, Michigan, a city and state hit hard by the economy, toy store owner Phil Wrzesinski was struggling to compete against local big box competitors like Toys "R" Us, Target, and Walmart. And then he had an idea. In August 2008 he began running ads on the local radio station that had local DJs wondering what was in the men's bathroom of the store. Droves of customers started coming in to see what actually wasin the men's bathroom. (The product in question, by the way, was a nightlight that projects stars on to the ceiling and walls of a darkened room.) The result? Despite the down economy, Toy House has seen a steady increase in both loyalty and sales ever since!
"Just because your product may be ordinary, it doesn't mean your promotion of it has to be," advises Kuzmeski. "Clever advertising can peak interest, create buzz, and get people talking—exactly what you want at a time like this. Don't be afraid to take risks with your promotion. Show that your company has an edge. It will set you apart from your competitors."
"To beat your competition in today's economy, you have to be offering something that no one else is—be it a unique product, promotion, offer, staff, or culture," says Kuzmeski. "You can't expect to keep customers coming back if you are offering only the status quo. Don't be afraid to take risks, think outside the box, and be a little daring. Not only will you grow your business, you'll find yourself inspired, recharged, and motivated."
What do you think?
Showing posts with label marketing. Show all posts
Showing posts with label marketing. Show all posts
Tuesday, November 2, 2010
Monday, September 27, 2010
It's OK to Look
Posted by Mark Brousseau
Companies pursue patents for a wide variety of reasons -- competitive advantage, company valuation, tax credits and others -- but in chasing patent claims, did you know that it actually benefits companies to look at patent applications filed by competitors, too?
That’s what one patent expert, attorney Roger Maxwell, believes. In his experience, searching competitors’ published patent applications and existing patents has actually helped his clients maximize their commercial advantages and follow the law.
“We can take a lesson from Hollywood,” he said. “Every aspiring screenwriter’s lament is that no producer will ever accept an unsolicited manuscript. There’s a reason for that. In copyright law, just as it almost always is in patent law, lack of intent is not a defense. In other words, if an agent or a producer even opens an unsolicited script, and 5 years later produces a film with elements from that script entirely by accident, they could be sued for copyright infringement. To prevent that, they simply don’t accept unsolicited material unless it comes from a licensed agent they trust.”
Maxwell says that the same principle can be applied for companies seeking patents, only in reverse. Whereas access in the copyright arena can lead to inadvertent copying and infringement, access in the patent area can lead to a better understanding of the state-of-the-art, better product design and better patents.
“It is very possible -- and even likely in some cases -- that one company’s patent may well duplicate elements from someone else’s application or existing patent,” Maxwell says.
“Because intent is not normally an issue, that company could actually be held liable for patent infringement, even if it didn’t know what the other company’s patents said. In the case of patents, it’s important to refrain from having your patent infringe on anyone else’s, even if it’s by accident,” he explains.
So they don’t waste time and money proving they are violating the law and/or setting themselves up to pay damages, it is critical for companies that are preparing patent applications to search published patent applications as well as existing patents, according to Maxwell.
“In examining other applications, a company can ensure that no elements of their applications cross over with something already on the books, even if it’s in an application filed by someone else,” he adds. “If you know what your competitors are working on with regard to their patents, as the public records afford you the capability to do, then you can work to not use any of their claimable technology in the pursuit of your own patent. That adds more weight to your claim and helps maintain the integrity of the system."
"The whole reason for patents is to recognize the proprietary ownership of a company’s intellectual property and to ensure unique ideas and executions of concepts can be protected. If a company finds a patent that it feels may arguably cover its products, it can further investigate the issue. If the investigation leads them to believe that their design does not infringe or the patent is not valid, an opinion from counsel may shield the company from enhanced damages that could triple the actual damages," Maxwell explains. "If the investigation reveals that the patent is valid and infringed the company can either redesign their product or negotiate either a license or a purchase of the patent."
"In my view, the best way to get a great patent is to check all available sources to make sure your application is verifiably unique and free from infringement of anyone else’s ideas already in the patent system,” Maxwell concludes.
What do you think?
Companies pursue patents for a wide variety of reasons -- competitive advantage, company valuation, tax credits and others -- but in chasing patent claims, did you know that it actually benefits companies to look at patent applications filed by competitors, too?
That’s what one patent expert, attorney Roger Maxwell, believes. In his experience, searching competitors’ published patent applications and existing patents has actually helped his clients maximize their commercial advantages and follow the law.
“We can take a lesson from Hollywood,” he said. “Every aspiring screenwriter’s lament is that no producer will ever accept an unsolicited manuscript. There’s a reason for that. In copyright law, just as it almost always is in patent law, lack of intent is not a defense. In other words, if an agent or a producer even opens an unsolicited script, and 5 years later produces a film with elements from that script entirely by accident, they could be sued for copyright infringement. To prevent that, they simply don’t accept unsolicited material unless it comes from a licensed agent they trust.”
Maxwell says that the same principle can be applied for companies seeking patents, only in reverse. Whereas access in the copyright arena can lead to inadvertent copying and infringement, access in the patent area can lead to a better understanding of the state-of-the-art, better product design and better patents.
“It is very possible -- and even likely in some cases -- that one company’s patent may well duplicate elements from someone else’s application or existing patent,” Maxwell says.
“Because intent is not normally an issue, that company could actually be held liable for patent infringement, even if it didn’t know what the other company’s patents said. In the case of patents, it’s important to refrain from having your patent infringe on anyone else’s, even if it’s by accident,” he explains.
So they don’t waste time and money proving they are violating the law and/or setting themselves up to pay damages, it is critical for companies that are preparing patent applications to search published patent applications as well as existing patents, according to Maxwell.
“In examining other applications, a company can ensure that no elements of their applications cross over with something already on the books, even if it’s in an application filed by someone else,” he adds. “If you know what your competitors are working on with regard to their patents, as the public records afford you the capability to do, then you can work to not use any of their claimable technology in the pursuit of your own patent. That adds more weight to your claim and helps maintain the integrity of the system."
"The whole reason for patents is to recognize the proprietary ownership of a company’s intellectual property and to ensure unique ideas and executions of concepts can be protected. If a company finds a patent that it feels may arguably cover its products, it can further investigate the issue. If the investigation leads them to believe that their design does not infringe or the patent is not valid, an opinion from counsel may shield the company from enhanced damages that could triple the actual damages," Maxwell explains. "If the investigation reveals that the patent is valid and infringed the company can either redesign their product or negotiate either a license or a purchase of the patent."
"In my view, the best way to get a great patent is to check all available sources to make sure your application is verifiably unique and free from infringement of anyone else’s ideas already in the patent system,” Maxwell concludes.
What do you think?
Sunday, September 26, 2010
10 Steps to Innovation
Posted by Mark Brousseau
In these days of economic dislocation, the concepts of government, business and technical innovation are more important than ever. When it comes to entering, creating, or dominating markets, disruptive innovation is the most powerful tool available. Unfortunately, most companies find disruptive innovation difficult to achieve and virtually impossible to replicate.
In Innovate the Future, renowned innovator and executive David Croslin provides the structure and framework to analyze one's own innovation dilemma, and to beat competitors in generating new ideas and delivering those ideas to market first.
Drawing on his experience leading innovation in organizations ranging from start-ups to the Fortune 20, Croslin explains the top ten steps for optimizing the entire innovation lifecycle:
1.Isolate Drivers of User Value - Function, look, adaptability, price - or all of the above. Focus on triggering a decision to buy versus passive interest.
2.Define Good Enough - A product with more positives than negatives will sell. Focus on this goal before refining for enhanced features and niche crowds.
3.Understand Your Delivery Chain - Separate innovative, value-additive suppliers from passive ones. Focus on suppliers who make your products better.
4.Isolate Delivery Chain Pain Points - Underperforming suppliers may not improve. Find an alternative.
5.Align Viewpoints Within Your Organization - Evaluate team for ability/inclination to increase product potential. Pinpoint inhibitors, plan to minimize their impact.
6.Kill Assumptions - Base evaluation of success or failure upon known facts, not subjective interpretation.
7.Isolate Intellectual Property - Break products into components, so intellectual property behind each can be recombined into new products.
8.Identify New Markets for IP - Coke is not marketed strictly as soda - think Coke Slurpees for 7-Eleven and A&W Root Beer candy for Brach's.
9.Don't Confuse Invention for Innovation - A highly inventive product won't necessarily move markets. A highly innovative one will. Know your market.
10."Cool" Is Not Key - Cost, availability, consistency and ability to integrate within consumers' lives matter much more.
What strategies have worked in your organization?
In these days of economic dislocation, the concepts of government, business and technical innovation are more important than ever. When it comes to entering, creating, or dominating markets, disruptive innovation is the most powerful tool available. Unfortunately, most companies find disruptive innovation difficult to achieve and virtually impossible to replicate.
In Innovate the Future, renowned innovator and executive David Croslin provides the structure and framework to analyze one's own innovation dilemma, and to beat competitors in generating new ideas and delivering those ideas to market first.
Drawing on his experience leading innovation in organizations ranging from start-ups to the Fortune 20, Croslin explains the top ten steps for optimizing the entire innovation lifecycle:
1.Isolate Drivers of User Value - Function, look, adaptability, price - or all of the above. Focus on triggering a decision to buy versus passive interest.
2.Define Good Enough - A product with more positives than negatives will sell. Focus on this goal before refining for enhanced features and niche crowds.
3.Understand Your Delivery Chain - Separate innovative, value-additive suppliers from passive ones. Focus on suppliers who make your products better.
4.Isolate Delivery Chain Pain Points - Underperforming suppliers may not improve. Find an alternative.
5.Align Viewpoints Within Your Organization - Evaluate team for ability/inclination to increase product potential. Pinpoint inhibitors, plan to minimize their impact.
6.Kill Assumptions - Base evaluation of success or failure upon known facts, not subjective interpretation.
7.Isolate Intellectual Property - Break products into components, so intellectual property behind each can be recombined into new products.
8.Identify New Markets for IP - Coke is not marketed strictly as soda - think Coke Slurpees for 7-Eleven and A&W Root Beer candy for Brach's.
9.Don't Confuse Invention for Innovation - A highly inventive product won't necessarily move markets. A highly innovative one will. Know your market.
10."Cool" Is Not Key - Cost, availability, consistency and ability to integrate within consumers' lives matter much more.
What strategies have worked in your organization?
Wednesday, January 27, 2010
The Domino's Theory
Posted by Mark Brousseau
Recently, Domino's Pizza did something practically unheard of in the business world. First, it asked its customers for honest feedback. Second, it actually listened to the painful truth (according to its documentary ad, "The Pizza Turnaround," unflattering words like "cardboard" and "totally void of flavor" were tossed about with abandon). Finally—and here's the shocking part—the company reinvented its product "from the crust up."
Now, if you're the typical business leader, you might be protesting, "But we listen to our customers all the time!" Don't be too sure, says new product development expert Dan Adams. You might think you're giving your customers what they want—but there's a good chance you're actually giving them what you want them to want.
"Many companies are essentially saying to their customers, 'You do need this product, right? Right?'" laughs Adams. "They're starting with a product and trying to talk their customers into giving it their stamp of approval. What looks like soliciting feedback is really a bit of a dog and pony show."
Adams should know. He has spent his career helping some of the largest business-to-business companies in the world learn how to develop new "stuff" that customers want to buy. Through New Product Blueprinting (the process described in his book), his company helps clients bring clarity to the "fuzzy front end" of product development.
So with the Domino's ad campaign making headlines for its boldly honest approach, you might be wondering how your company can follow its lead. Adams offers several tips:
... Ask your customers what they want—in a way that lets them know you really hear them. A lot of companies pay lip service to this idea. As consumers we've all had survey cards slapped down in front of us or fielded post-purchase telemarketing calls. Reconsider how you are collecting customer feedback. Are you doing it in a way that really engages the customer so that you can get the truth?
"There's no substitute for respectful dialogue with customers," says Adams, whose own process helps B2B suppliers elicit idea-generating, peer-to-peer conversations with their customers. "When you can get people truly engaged in the feedback process—I mean really focused on what they need and want from you—you'll get their honest opinions. And that raw honesty is what you need to serve them the right way."
... Don't rely on sales reps alone to capture customer needs. A salesperson is unlikely to uncover a full set of market needs if he is a) rewarded for near-term selling, b) unable to reach true decision makers, or c) not calling on most of the customers in your target market segment. But put a good salesperson on a team with marketing and technical colleagues, train all in advanced interviewing methods, and you'll run circles around your competitors.
Be wary of VOC (voice-of-the-customer) consultants who want to exclude your sales force from interviews because "they can sell but not listen," warns Adams. In the long run, your company will fall behind competitors that have taken steps to develop a team of engaged and enlightened salespeople.
... Take action on what you're hearing. Many companies ask their customers for feedback with the best of intentions. But when they start hearing things they don't want to hear, they find a million reasons to explain it away. As a result, the feedback never gets translated into action.
"A lot of companies will say, 'Oh, they're a difficult client,' or, 'That's not really what they want; it's just what they think they want,'" says Adams. "Either they don't really want to change what they're doing or they don't trust the customer or they don't trust themselves to understand what the customer wants.
"A good interviewer knows how to dig deep and figure out the customer's hidden needs," he adds. "And a smart company will take action to meet those needs—no matter what."
... If you have to scrap your existing products and start from scratch, so be it. Here's the real truth, says Adams: Most suppliers start with their solution, "validate" it by showing it to some customers, and measure market needs by watching sales results... after the product launch! In other words, they're getting it exactly backwards.
"Companies should invert this process: Begin with customer needs and end with supplier solutions," asserts Adams. "While doing things in the wrong order may 'feel' better to you, it is far less likely to result in sales and customer satisfaction. Besides, intelligent customers can detect your 'validation' a mile away. They correctly sense you are more interested in your idea than in them... and that doesn't do much for the long-term relationships you need to build."
... Get everyone in your company connected to the customer's reality. If you watch Domino's new ad, you can see how ego crushing it was for the company's employees to hear customers speak their minds about the flavorless crust and ketchupy sauce. Yet, you can also see how necessary it was for them to hear the harsh truth—it energized them to revamp their product and make it much, much better.
"People inside companies tend to get defensive about their products and processes," admits Adams. "It's only human. But when you can cut through that defensiveness and show them 'Hey, this really isn't working for our customers'—well, that's where true service and value finally begin."
If you're thinking this is a message recession-strapped companies need to hear, you're right, says Adams. The quicker they get it, the more likely they are to survive.
"Figuring out what people really want from your company, and giving it to them, is the whole point of being in business," he notes. "When money is flowing, you can stand some trial and error, some experimentation. When it's not, you'd better get it right now—and 'right' means whatever the customer says it does."
What do you think?
Recently, Domino's Pizza did something practically unheard of in the business world. First, it asked its customers for honest feedback. Second, it actually listened to the painful truth (according to its documentary ad, "The Pizza Turnaround," unflattering words like "cardboard" and "totally void of flavor" were tossed about with abandon). Finally—and here's the shocking part—the company reinvented its product "from the crust up."
Now, if you're the typical business leader, you might be protesting, "But we listen to our customers all the time!" Don't be too sure, says new product development expert Dan Adams. You might think you're giving your customers what they want—but there's a good chance you're actually giving them what you want them to want.
"Many companies are essentially saying to their customers, 'You do need this product, right? Right?'" laughs Adams. "They're starting with a product and trying to talk their customers into giving it their stamp of approval. What looks like soliciting feedback is really a bit of a dog and pony show."
Adams should know. He has spent his career helping some of the largest business-to-business companies in the world learn how to develop new "stuff" that customers want to buy. Through New Product Blueprinting (the process described in his book), his company helps clients bring clarity to the "fuzzy front end" of product development.
So with the Domino's ad campaign making headlines for its boldly honest approach, you might be wondering how your company can follow its lead. Adams offers several tips:
... Ask your customers what they want—in a way that lets them know you really hear them. A lot of companies pay lip service to this idea. As consumers we've all had survey cards slapped down in front of us or fielded post-purchase telemarketing calls. Reconsider how you are collecting customer feedback. Are you doing it in a way that really engages the customer so that you can get the truth?
"There's no substitute for respectful dialogue with customers," says Adams, whose own process helps B2B suppliers elicit idea-generating, peer-to-peer conversations with their customers. "When you can get people truly engaged in the feedback process—I mean really focused on what they need and want from you—you'll get their honest opinions. And that raw honesty is what you need to serve them the right way."
... Don't rely on sales reps alone to capture customer needs. A salesperson is unlikely to uncover a full set of market needs if he is a) rewarded for near-term selling, b) unable to reach true decision makers, or c) not calling on most of the customers in your target market segment. But put a good salesperson on a team with marketing and technical colleagues, train all in advanced interviewing methods, and you'll run circles around your competitors.
Be wary of VOC (voice-of-the-customer) consultants who want to exclude your sales force from interviews because "they can sell but not listen," warns Adams. In the long run, your company will fall behind competitors that have taken steps to develop a team of engaged and enlightened salespeople.
... Take action on what you're hearing. Many companies ask their customers for feedback with the best of intentions. But when they start hearing things they don't want to hear, they find a million reasons to explain it away. As a result, the feedback never gets translated into action.
"A lot of companies will say, 'Oh, they're a difficult client,' or, 'That's not really what they want; it's just what they think they want,'" says Adams. "Either they don't really want to change what they're doing or they don't trust the customer or they don't trust themselves to understand what the customer wants.
"A good interviewer knows how to dig deep and figure out the customer's hidden needs," he adds. "And a smart company will take action to meet those needs—no matter what."
... If you have to scrap your existing products and start from scratch, so be it. Here's the real truth, says Adams: Most suppliers start with their solution, "validate" it by showing it to some customers, and measure market needs by watching sales results... after the product launch! In other words, they're getting it exactly backwards.
"Companies should invert this process: Begin with customer needs and end with supplier solutions," asserts Adams. "While doing things in the wrong order may 'feel' better to you, it is far less likely to result in sales and customer satisfaction. Besides, intelligent customers can detect your 'validation' a mile away. They correctly sense you are more interested in your idea than in them... and that doesn't do much for the long-term relationships you need to build."
... Get everyone in your company connected to the customer's reality. If you watch Domino's new ad, you can see how ego crushing it was for the company's employees to hear customers speak their minds about the flavorless crust and ketchupy sauce. Yet, you can also see how necessary it was for them to hear the harsh truth—it energized them to revamp their product and make it much, much better.
"People inside companies tend to get defensive about their products and processes," admits Adams. "It's only human. But when you can cut through that defensiveness and show them 'Hey, this really isn't working for our customers'—well, that's where true service and value finally begin."
If you're thinking this is a message recession-strapped companies need to hear, you're right, says Adams. The quicker they get it, the more likely they are to survive.
"Figuring out what people really want from your company, and giving it to them, is the whole point of being in business," he notes. "When money is flowing, you can stand some trial and error, some experimentation. When it's not, you'd better get it right now—and 'right' means whatever the customer says it does."
What do you think?
Friday, January 22, 2010
7 Deadly Sins that Stunt Corporate Organic Growth
Posted by Mark Brousseau
You already know that organic growth makes for a stronger company. In today's tough economy it just makes sense to grow from within by developing outstanding products and services that win over new customers and keep current ones coming back. (The alternatives are to grow via debt financing or an army of flush-with-cash buyers on a spending spree—and clearly, neither is easy to come by these days!) Problem is, your competitors are playing by the same rules. But according to Dan Adams, you can outwit them...simply by putting a halt to the mistakes you (and they) are making right now.
"Unless your company has smarter employees, some inherent unassailable advantage, or a markedly different approach to satisfying customers, those competitors always seem to throttle your growth," notes Adams. "But what if you and your competitors were committing some serious mistakes that stunt organic growth—and you corrected them? Wouldn't that be enough to propel you to the front of the line?"
It makes sense. And Adams should know: He has spent his career helping some of the largest business-to-business companies in the world overcome the obstacles that clog up their organic growth engines—the ability to develop new "stuff" that customers want to buy. Through New Product Blueprinting (the process described in his book), his company helps clients bring clarity to the "fuzzy front end" of product development.
"In 20 years the common mistakes B2B companies make will be as glaring as trying to improve quality with inspectors rather than statistics," he says. "Correct them now and you'll enjoy a substantial head start on years of healthy organic growth."
Adams identifies the seven deadly sins that too many B2B companies commit:
Sin #1. Imagining customers' needs in your conference rooms. Does your new product process begin with the word "idea," perhaps with a light bulb next to it? So whose idea is it: yours or your customers? Unfortunately, says Adams, most suppliers start with their solution, "validate" it by showing it to some customers, and measure market needs by watching sales results...after the product launch!
"Companies should invert this process: Begin with customer needs and end with supplier solutions," asserts Adams. "While doing things in the wrong order may 'feel' better to you, it is far less likely to result in sales and customer satisfaction. Besides, intelligent B2B customers can detect your 'validation' a mile away. They correctly sense you are more interested in your idea than in them...and that doesn't do much for the long-term relationships you need to build."
Sin #2. Relying on sales reps to capture customer needs. A salesperson is unlikely to uncover a full set of market needs if he is a) rewarded for near-term selling, b) unable to reach true decision makers, or c) not calling on most of the customers in your target market segment. But put a good salesperson on a team with marketing and technical colleagues, train all in advanced B2B interviewing methods, and you'll run circles around your competitors.
Be wary of VOC (voice-of-the-customer) consultants who want to exclude your sales force from interviews because "they can sell but not listen," warns Adams. In the long run, your company will fall behind competitors that have taken steps to develop a team of engaged and enlightened salespeople.
Sin #3. Counting on just a few VOC experts. Some companies rely on a handful of internal VOC experts to interview customers. You'll do far better training a critical mass of employees—who routinely interact with customers—to gather customer needs. Keep your VOC experts as coaches and trainers, but implement "VOC for the masses." You'll overwhelm competitors by turning a trickle of customer feedback into a torrent.
Sin #4. Using hand-me-down consumer goods methods. "Traditional VOC methods rely on questionnaires, tape recorders, and post-interview analyses," says Adams. "That's fine for consumer goods, but your B2B customers are insightful, rational, interested, and fewer in number. They're smart and will make you smarter if you engage them in a peer- to-peer dialogue. Use a digital projector, let them lead you to their areas of interest, probe with skill, and you'll be shocked at how much you'll learn you never knew."
Sin #5. Gathering only qualitative customer feedback. "I once had a new client who came to me extremely frustrated," recalls Adams. "He had spent months interviewing customers, only to hear his boss say, 'Nah, I don't think they want that; they want this.' Unfortunately, interviewers often hear want they want to hear... and then parade some customer quotes for support."
What you need, adds Adams, is quantitative data, which measure customer importance and satisfaction on key outcomes. Skip quantification and your new product will be based on assumptions, bias, and wishful thinking.
Sin #6. Listening only to immediate customers. Unlike B2C producers, your product might be part of your customers' products, your customers' customers' products, and so on. It's a mistake to interview only your direct customers, because they are usually unable or unwilling to disclose downstream customers' deepest needs. Also, B2C producers assign "one vote" per consumer...while you need to weight the buying power and value chain position of downstream customers.
Sin #7. Ignoring competitors when you design your product. "I find most product development processes are far too casual—and late—in assessing competitive offerings," says Adams. "Your new product makes a lot of money only if two conditions are satisfied: a) it offers significant value to customers, and b) customers cannot get this value elsewhere. Interviews tell you only about Condition A. You need side-by-side testing to learn about Condition B. This allows you to attack competitive weak spots, avoid getting blind-sided, and optimize pricing."
So why is it so important to focus so intensely upon customer needs? Consider three points, says Adams: First, the average new product success rate is only one in four. Over 30 years of research says the number one reason is inadequate market understanding.
Second, the "how" continues to get easier than the "what." You have twin goals of understanding what your customers want, and then how to satisfy them with your solutions. In these days of open innovation and global access to technology, the "how" is easier than it's ever been...if you have a solid grasp of the "what."
Finally, you reap benefits beyond good product design when you use respectful peer-to-peer interviews. You engage customers in the design process, which primes them to buy your product later.
"Our clients often enjoy benefits well before product launch," says Adams. "Their interviews cast them as caring, competent suppliers, so they have a better shot at other near-term business.
"Never forget that relationship building is everything," he adds. "We're living in an age where anyone, anywhere on the globe, at any time can start a business that competes with yours. By engaging customers in a respectful peer-to-peer dialogue and genuinely soliciting their ideas, you position yourself as a valuable partner and not just a vendor—and that in and of itself is a reason to stick with you."
What do you think? Post your comments below.
You already know that organic growth makes for a stronger company. In today's tough economy it just makes sense to grow from within by developing outstanding products and services that win over new customers and keep current ones coming back. (The alternatives are to grow via debt financing or an army of flush-with-cash buyers on a spending spree—and clearly, neither is easy to come by these days!) Problem is, your competitors are playing by the same rules. But according to Dan Adams, you can outwit them...simply by putting a halt to the mistakes you (and they) are making right now.
"Unless your company has smarter employees, some inherent unassailable advantage, or a markedly different approach to satisfying customers, those competitors always seem to throttle your growth," notes Adams. "But what if you and your competitors were committing some serious mistakes that stunt organic growth—and you corrected them? Wouldn't that be enough to propel you to the front of the line?"
It makes sense. And Adams should know: He has spent his career helping some of the largest business-to-business companies in the world overcome the obstacles that clog up their organic growth engines—the ability to develop new "stuff" that customers want to buy. Through New Product Blueprinting (the process described in his book), his company helps clients bring clarity to the "fuzzy front end" of product development.
"In 20 years the common mistakes B2B companies make will be as glaring as trying to improve quality with inspectors rather than statistics," he says. "Correct them now and you'll enjoy a substantial head start on years of healthy organic growth."
Adams identifies the seven deadly sins that too many B2B companies commit:
Sin #1. Imagining customers' needs in your conference rooms. Does your new product process begin with the word "idea," perhaps with a light bulb next to it? So whose idea is it: yours or your customers? Unfortunately, says Adams, most suppliers start with their solution, "validate" it by showing it to some customers, and measure market needs by watching sales results...after the product launch!
"Companies should invert this process: Begin with customer needs and end with supplier solutions," asserts Adams. "While doing things in the wrong order may 'feel' better to you, it is far less likely to result in sales and customer satisfaction. Besides, intelligent B2B customers can detect your 'validation' a mile away. They correctly sense you are more interested in your idea than in them...and that doesn't do much for the long-term relationships you need to build."
Sin #2. Relying on sales reps to capture customer needs. A salesperson is unlikely to uncover a full set of market needs if he is a) rewarded for near-term selling, b) unable to reach true decision makers, or c) not calling on most of the customers in your target market segment. But put a good salesperson on a team with marketing and technical colleagues, train all in advanced B2B interviewing methods, and you'll run circles around your competitors.
Be wary of VOC (voice-of-the-customer) consultants who want to exclude your sales force from interviews because "they can sell but not listen," warns Adams. In the long run, your company will fall behind competitors that have taken steps to develop a team of engaged and enlightened salespeople.
Sin #3. Counting on just a few VOC experts. Some companies rely on a handful of internal VOC experts to interview customers. You'll do far better training a critical mass of employees—who routinely interact with customers—to gather customer needs. Keep your VOC experts as coaches and trainers, but implement "VOC for the masses." You'll overwhelm competitors by turning a trickle of customer feedback into a torrent.
Sin #4. Using hand-me-down consumer goods methods. "Traditional VOC methods rely on questionnaires, tape recorders, and post-interview analyses," says Adams. "That's fine for consumer goods, but your B2B customers are insightful, rational, interested, and fewer in number. They're smart and will make you smarter if you engage them in a peer- to-peer dialogue. Use a digital projector, let them lead you to their areas of interest, probe with skill, and you'll be shocked at how much you'll learn you never knew."
Sin #5. Gathering only qualitative customer feedback. "I once had a new client who came to me extremely frustrated," recalls Adams. "He had spent months interviewing customers, only to hear his boss say, 'Nah, I don't think they want that; they want this.' Unfortunately, interviewers often hear want they want to hear... and then parade some customer quotes for support."
What you need, adds Adams, is quantitative data, which measure customer importance and satisfaction on key outcomes. Skip quantification and your new product will be based on assumptions, bias, and wishful thinking.
Sin #6. Listening only to immediate customers. Unlike B2C producers, your product might be part of your customers' products, your customers' customers' products, and so on. It's a mistake to interview only your direct customers, because they are usually unable or unwilling to disclose downstream customers' deepest needs. Also, B2C producers assign "one vote" per consumer...while you need to weight the buying power and value chain position of downstream customers.
Sin #7. Ignoring competitors when you design your product. "I find most product development processes are far too casual—and late—in assessing competitive offerings," says Adams. "Your new product makes a lot of money only if two conditions are satisfied: a) it offers significant value to customers, and b) customers cannot get this value elsewhere. Interviews tell you only about Condition A. You need side-by-side testing to learn about Condition B. This allows you to attack competitive weak spots, avoid getting blind-sided, and optimize pricing."
So why is it so important to focus so intensely upon customer needs? Consider three points, says Adams: First, the average new product success rate is only one in four. Over 30 years of research says the number one reason is inadequate market understanding.
Second, the "how" continues to get easier than the "what." You have twin goals of understanding what your customers want, and then how to satisfy them with your solutions. In these days of open innovation and global access to technology, the "how" is easier than it's ever been...if you have a solid grasp of the "what."
Finally, you reap benefits beyond good product design when you use respectful peer-to-peer interviews. You engage customers in the design process, which primes them to buy your product later.
"Our clients often enjoy benefits well before product launch," says Adams. "Their interviews cast them as caring, competent suppliers, so they have a better shot at other near-term business.
"Never forget that relationship building is everything," he adds. "We're living in an age where anyone, anywhere on the globe, at any time can start a business that competes with yours. By engaging customers in a respectful peer-to-peer dialogue and genuinely soliciting their ideas, you position yourself as a valuable partner and not just a vendor—and that in and of itself is a reason to stick with you."
What do you think? Post your comments below.
Tuesday, May 26, 2009
Web 2.0 Primer
Posted by Mark Brousseau
Twitter, MySpace and Facebook Demystified
by Ted Janusz
Q: I hear people talking about Websites like Twitter, MySpace and Facebook. All the kids seem to be using them. What are they? And, even more importantly, should I be using them to market my business?
Tools like Twitter, Facebook and MySpace are components of something else you may have heard people talking about: Web 2.0, which is a popular term for Internet applications for which the users are actively engaged in creating and distributing Web content.
Web 1.0 probably consisted of the Web sites you saw back in the late 90s, which were nothing more than fancy electronic brochures. Web 1.5 would have been something like Amazon or eBay, sites on which you can buy, sell and leave reviews. What Web 3.0 will look like is anybody's guess!
Let's look specifically at the three applications that you mentioned.
Twitter - "Twitter is like text messaging, only you can also do it from the Web," says Dan Tynan, the author of the Tynan on Technology blog. "Instead of sending a message to just one person, you can send it to thousands of people at once. You can choose to follow anyone's update (called "tweets") simply by clicking the Follow button on their profile, or vice-versa. The only rule is that each tweet can be no longer than 140 characters."
This is fine, but what is the business application of Twitter?
In the past, companies would need to spend hundreds of thousands of dollars on marketing research to find out what consumers were saying about them. Now companies like Comcast, Dell, HR Block, Kodak, Southwest Airlines and Whole Foods can "follow" what real customers are saying about them in real time. And they can answer questions and resolve complaints from real customers immediately, if they so choose.
The number one Web site in both the United States and the world is Yahoo. But in the U.S., the second most visited site is MySpace.
MySpace - Tom Anderson and Chris DeWolfe designed a Web site to provide a service at no charge to regular people looking for a way to connect with others having similar likes and dislikes. The site was initially popular with bands, who didn't want to go through the hassle of creating and maintaining a Web site, but sought a way to distribute their music, photographs, videos and other information to their fans and would-be fans. MySpace usage has since spread like wildfire to people of all interests and ages.
Yes, MySpace initially appealed to teenagers, but now half of the visitors to the site are age 35 or older as the site's demographic composition continues to shift.
What is the business application of MySpace?
Successful marketing using any of the Web 2.0 applications means an ad cannot look like an ad or else it will be rejected immediately by the social networking visitors.
To see how companies have successfully launched a presence on MySpace, check out Cartier International (www.myspace.com/lovebycartier) or Miss Helga, a spokesperson for Volkswagen (www.myspace.com/misshelga).
While MySpace is the number two Website in the United States, Facebook is the number two Website in the rest of the world and is rapidly closing in on MySpace in the US.
Facebook was originally created by Mark Zuckerman, intended for use by his fellow students of Harvard University as "The Facebook." It was meant to be an online replacement of the book one receives as freshmen when entering college or university containing photos and other information about our new freshman classmates. Within 30 days, about half of the students of Harvard had a profile on the site. Facebook soon spread to other Boston area colleges. Presently, approximately 85 percent of all college students have a presence on Facebook.
Facebook has been able to overtake MySpace as the number one social networking site in the world because it no longer has the stigma that it is "just for high school or college students." Anyone may now join Facebook.
Sites like MySpace and Facebook are so popular because social networking allows so much more than e-mail or text messaging. In addition to writing on someone else's "wall" on Facebook, sharing photographs and videos. Facebook is the number one photo-sharing site on the Internet. At a glance, you can see what all of your "friends" are up to. And because you choose your friends on Facebook, you can virtually eliminate spam, spam composes up to 90% of all e-mail.
What is the business application of Facebook?
People have a "profile" on Facebook, whereas a business has a "page." You and I can have "friends" on Facebook, while a business has "fans." Businesses on Facebook can really benefit from on Facebook is: the trusted referrals of their friends, which is something missing from the monologue of advertising.
There is a danger for businesses to view the social networking sites as the new television, but a business can advertise on them for free.
"If you are going to go there, you had better go for the right reasons," says Seth Godin, author of the best-selling book on marketing, Purple Cow. "And if your reason is to sell more stuff, please don't bother. It's not going to work. People don't care about you. They just don't.
On the other hand, if you can use social networking sites as ways to connect to real people, just for that sake alone, not because you want to sell anything, then it's a great way to spend a half hour a day."
Godin concludes, "And what we are finding, as a by-product of that . . . yes, in fact, your business will do better, because you are a trusted member of the community. Not because you are trying to sell stuff."
Ted Janusz is a professional speaker, author and entrepreneur, who presents "Web 2.0 - How to Harness the Power of Social Networking to Promote Your Business." Janusz has been invited to appear on the Geraldo show on FOX News Network.
Twitter, MySpace and Facebook Demystified
by Ted Janusz
Q: I hear people talking about Websites like Twitter, MySpace and Facebook. All the kids seem to be using them. What are they? And, even more importantly, should I be using them to market my business?
Tools like Twitter, Facebook and MySpace are components of something else you may have heard people talking about: Web 2.0, which is a popular term for Internet applications for which the users are actively engaged in creating and distributing Web content.
Web 1.0 probably consisted of the Web sites you saw back in the late 90s, which were nothing more than fancy electronic brochures. Web 1.5 would have been something like Amazon or eBay, sites on which you can buy, sell and leave reviews. What Web 3.0 will look like is anybody's guess!
Let's look specifically at the three applications that you mentioned.
Twitter - "Twitter is like text messaging, only you can also do it from the Web," says Dan Tynan, the author of the Tynan on Technology blog. "Instead of sending a message to just one person, you can send it to thousands of people at once. You can choose to follow anyone's update (called "tweets") simply by clicking the Follow button on their profile, or vice-versa. The only rule is that each tweet can be no longer than 140 characters."
This is fine, but what is the business application of Twitter?
In the past, companies would need to spend hundreds of thousands of dollars on marketing research to find out what consumers were saying about them. Now companies like Comcast, Dell, HR Block, Kodak, Southwest Airlines and Whole Foods can "follow" what real customers are saying about them in real time. And they can answer questions and resolve complaints from real customers immediately, if they so choose.
The number one Web site in both the United States and the world is Yahoo. But in the U.S., the second most visited site is MySpace.
MySpace - Tom Anderson and Chris DeWolfe designed a Web site to provide a service at no charge to regular people looking for a way to connect with others having similar likes and dislikes. The site was initially popular with bands, who didn't want to go through the hassle of creating and maintaining a Web site, but sought a way to distribute their music, photographs, videos and other information to their fans and would-be fans. MySpace usage has since spread like wildfire to people of all interests and ages.
Yes, MySpace initially appealed to teenagers, but now half of the visitors to the site are age 35 or older as the site's demographic composition continues to shift.
What is the business application of MySpace?
Successful marketing using any of the Web 2.0 applications means an ad cannot look like an ad or else it will be rejected immediately by the social networking visitors.
To see how companies have successfully launched a presence on MySpace, check out Cartier International (www.myspace.com/lovebycartier) or Miss Helga, a spokesperson for Volkswagen (www.myspace.com/misshelga).
While MySpace is the number two Website in the United States, Facebook is the number two Website in the rest of the world and is rapidly closing in on MySpace in the US.
Facebook was originally created by Mark Zuckerman, intended for use by his fellow students of Harvard University as "The Facebook." It was meant to be an online replacement of the book one receives as freshmen when entering college or university containing photos and other information about our new freshman classmates. Within 30 days, about half of the students of Harvard had a profile on the site. Facebook soon spread to other Boston area colleges. Presently, approximately 85 percent of all college students have a presence on Facebook.
Facebook has been able to overtake MySpace as the number one social networking site in the world because it no longer has the stigma that it is "just for high school or college students." Anyone may now join Facebook.
Sites like MySpace and Facebook are so popular because social networking allows so much more than e-mail or text messaging. In addition to writing on someone else's "wall" on Facebook, sharing photographs and videos. Facebook is the number one photo-sharing site on the Internet. At a glance, you can see what all of your "friends" are up to. And because you choose your friends on Facebook, you can virtually eliminate spam, spam composes up to 90% of all e-mail.
What is the business application of Facebook?
People have a "profile" on Facebook, whereas a business has a "page." You and I can have "friends" on Facebook, while a business has "fans." Businesses on Facebook can really benefit from on Facebook is: the trusted referrals of their friends, which is something missing from the monologue of advertising.
There is a danger for businesses to view the social networking sites as the new television, but a business can advertise on them for free.
"If you are going to go there, you had better go for the right reasons," says Seth Godin, author of the best-selling book on marketing, Purple Cow. "And if your reason is to sell more stuff, please don't bother. It's not going to work. People don't care about you. They just don't.
On the other hand, if you can use social networking sites as ways to connect to real people, just for that sake alone, not because you want to sell anything, then it's a great way to spend a half hour a day."
Godin concludes, "And what we are finding, as a by-product of that . . . yes, in fact, your business will do better, because you are a trusted member of the community. Not because you are trying to sell stuff."
Ted Janusz is a professional speaker, author and entrepreneur, who presents "Web 2.0 - How to Harness the Power of Social Networking to Promote Your Business." Janusz has been invited to appear on the Geraldo show on FOX News Network.
Wednesday, July 23, 2008
Data Capture Drives Marketing
By Mark Brousseau
Desperate to build stronger, longer lasting relationships with their customers, companies are turning to one-to-one marketing, a customer relationship management (CRM) strategy that emphasizes personalized interactions with customers over mass marketing. And automated data capture can play a key role in ensuring the success of one-to-one marketing initiatives, says Bill Welling, an account director for CDS Global (bwelling@cds-global.com).
While the term itself is fairly new, Welling said one-to-one marketing is really a throwback to the days of the neighborhood store, where the owner made it a point to know your name, your likes and dislikes, your shopping habits and a few other things that made the relationship special, lasting and, yes, profitable. Welling said that as people’s lives become increasingly busy, the cookie cutter, ‘one size fits all’ sales model has quickly become outdated and ineffective.”
“What we are talking about here is Relationships 101,” Welling said. “And data capture helps organizations get at valuable customer information faster and cheaper. Using data capture, a company can know the return address on a customer’s check, who signs the checks – meaning, who likely makes the buying decisions – and the customer’s buying habits.” This type of information can then be used to tailor product offers to customers, he said.
“Data capture is a fact-finding tool that helps ensure that companies are providing the best customer service, in terms of the products they offer,” Welling said. “By capturing key data from customer remittances, companies can position themselves in the best possible light.” And with the move to one-to-one marketing, Welling said this is critical, as companies will increasingly focus on the quality of customer data, rather than the quantity of it.
How is data capture driving your marketing?
Post your comment below.
Desperate to build stronger, longer lasting relationships with their customers, companies are turning to one-to-one marketing, a customer relationship management (CRM) strategy that emphasizes personalized interactions with customers over mass marketing. And automated data capture can play a key role in ensuring the success of one-to-one marketing initiatives, says Bill Welling, an account director for CDS Global (bwelling@cds-global.com).
While the term itself is fairly new, Welling said one-to-one marketing is really a throwback to the days of the neighborhood store, where the owner made it a point to know your name, your likes and dislikes, your shopping habits and a few other things that made the relationship special, lasting and, yes, profitable. Welling said that as people’s lives become increasingly busy, the cookie cutter, ‘one size fits all’ sales model has quickly become outdated and ineffective.”
“What we are talking about here is Relationships 101,” Welling said. “And data capture helps organizations get at valuable customer information faster and cheaper. Using data capture, a company can know the return address on a customer’s check, who signs the checks – meaning, who likely makes the buying decisions – and the customer’s buying habits.” This type of information can then be used to tailor product offers to customers, he said.
“Data capture is a fact-finding tool that helps ensure that companies are providing the best customer service, in terms of the products they offer,” Welling said. “By capturing key data from customer remittances, companies can position themselves in the best possible light.” And with the move to one-to-one marketing, Welling said this is critical, as companies will increasingly focus on the quality of customer data, rather than the quantity of it.
How is data capture driving your marketing?
Post your comment below.
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