By
Craig Barnes on Monday, March 9th, 2009 |
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I was in San Francisco for meetings the past few days and one of the city’s growing number of panhandler’s offered up a marketing lesson in cutting through the clutter.
As we were walking to a restaurant on the wharf we encountered no less than eight or nine individuals asking for money. Some had cups they simply held out, some were standing, and others sitting and making a general motion in our direction, suggesting what they wanted.
But one guy had a sign that read: “Why lie. I’m gonna spend it on booze.”
This is not to minimize the struggle of those who find themselves in desperate situations or the issue of alcoholism
But, this particular individual was grabbing the attention of everyone who passed by and his cup was full. Talk about effective direct marketing.
The point is that if you are in a highly competitive, cluttered market, you need to make sure that your message manages to stand out, and as a result you boost your marketing ROI.
By
Craig Barnes on Wednesday, December 17th, 2008 |
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Can you boost your marketing ROI in 2009? Sure you can. Here’s nine ideas you can put into motion today.
1. If you are like most, the 80/20 rule applies in your business. Segment you customer data and identify those producing the most revenue. Send them a personal note thanking them for their loyalty.
2. Stop marketing to the dead leads on your list. Replace them with leads that better match your best customer profile.
3. Don’t have a best customer profile? Mine your data and develop one.
4. Demand that every marketing dollar spent in 2009 will be measured.
5. Provide information to your prospects and customers that will help them impact their business.
6. Create a digital dialogue with your customers. Notice I said “dialogue.” Ask for feedback.
7. Find ways to add value to the product or service that you market.
8. Actively reengage warm leads.
9. Smile when you talk. Even if you’re on the phone. It works.
There’s no reason to believe that 2009 is going to be any easier than 2008. And, this makes it a perfect time to dedicate yourself and your team to doing everything you can to ensure dollars are deployed strategically and everything has a metric attached to it.
By
Craig Barnes on Sunday, November 2nd, 2008 |
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In his new book, Tribes. We Need You to Lead Us, Seth Godin makes the point that traditional barriers to leading a movement … a market … a “tribe” have been erased because of the Internet. Geography, cost, time are all non-factors because of the Internet’s capacity to connect us with a few or vast amount of people who have a similar passion, point of view or just something in common.
But, the Internet cannot provide leadership, that is still up to us as individuals. Read the rest of this entry »
By
Craig Barnes on Tuesday, October 21st, 2008 |
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When I boarded a flight late last week the last thing I thought I would do upon arrival was get a flu shot. But that’s what happened. As I walked down the concourse on the way to baggage claim there was a large banner that read, “Flu Shots.”
I missed an opportunity earlier in the week to get the shot, so the timing and accessibility was ideal. It caused me to think that this was an excellent example of engaging the target on their terms. How many times do we need to be reminded that our marketing ROI will increase if we take the time to think creatively and provide opportunity for prospects and customers to interact with our brand outside of traditional settings.
The “surprise” element is important. Where’s the last place you would expect to get a flu shot? Think about how you could surprise your targets and have them encounter your brand where they least expect it.
By
Craig Barnes on Thursday, September 25th, 2008 |
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I participate in monthly peer group with other St. Louis area company presidents. During our meeting on Tuesday we spent a lot of time talking about the financial crisis and the proposed $700 billion bailout proposal. It occurred to me, as I listened and commented, that there was a marketing lesson in all of this. Read the rest of this entry »
By
Craig Barnes on Wednesday, September 10th, 2008 |
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I just returned from a client meeting where we presented the findings of a customer analysis. If you read this blog you know that I’m a HUGE advocate for uncovering the hidden gems in transactional and operational data, and then transforming that information into actionable marketing strategies and tactics to increase marketing ROI. We uncovered plenty of growth opportunity and that always excites me.
But, as we were presenting the findings I was having a parallel conversation with myself. I’m sure that sounds strange, but let me explain. Like the graphic below, I had all of this information flying around inside me head, and I wanted to ensure that the information we presented was supported by the overall knowledge we have of our client’s business … that I was being clear about how to put the findings into meaningful actions. It’s always the subtext to the data that is the difference between good looking charts, graphs and percentages, and the effective use of the information.
It’s the human element. As marketers, we have a responsibility to understand our markets …get into the dirt and rummage around to really understand what’s important and what’s not. And then combine that understanding with tools like data analysis to make sure we’re squeezing out every bit of marketing ROI possible.
When we completed the presentation our client was energized by both the findings and translating opportunities. It says we were successful in bringing the human element of understanding to their challenges and objectives.
At that point, the parallel conversation ended and we agreed on next steps.
By
Craig Barnes on Monday, September 8th, 2008 |
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Do you have a process in place to boost your marketing ROI? Without one, you are likely to spend time and resources inefficiently.
I believe the first step in the process is to leverage market intelligence. Without it, Read the rest of this entry »
By
Craig Barnes on Friday, August 8th, 2008 |
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I have a peer group colleague who is the president of a dental insurance company. Over the last five years his company has experienced triple-digit growth. He attributes their success in large part to the high level of customer/member service they deliver to their participating dentists and insured individuals. He and his team developed a Read the rest of this entry »
By
Craig Barnes on Wednesday, August 6th, 2008 |
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Did you take note of Starbucks’ announcement to roll-out a nationwide discount program for morning patrons to get an afternoon iced drink at half-off? At the least you have to look at it as an interesting development for the marketer of a high value proposition.
“Discount” is a word used heavily by many. A quick Google search revealed you can find the word on 455 Million pages. Starbucks’ decision to use it as a traffic builder to boost lagging sales was described as, “hitting the nail on the head”, by Brad Stevens, the chain’s VP of customer relations. It remains to be seen if it has long-term impact on their customers’ value perception.
There’s an eternal discussion among marketers about the “slippery slope” of discounting. Arguments can be made often for introducing discounts as a temporary tactic to move the needle. The lasting effect of discounting can sometimes lead to erosion … not only in margin, but in the way a brand is perceived.
Starbucks made a significant investment in establishing themselves as destination, creating a certain set of “brand permissions” among their loyal consumers. My guess is you could ask a hundred people what they think of when you say Starbucks and not one of them would say discount.
What’s your opinion? Risky move, or smart reaction to a tough economy by a marketing superpower? Let me know what you think.
By
Craig Barnes on Monday, August 4th, 2008 |
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A recent study through the Pew Internet & American Life Project revealed that six out of 10 adults viewing video online prefer that those videos are produced professionally . If you are thinking about using online video to bolster your marketing efforts, this is something you’ll want to consider to ensure that you maximize your return on investment.
57% of online adults use the internet to watch or download video, according to the study. And of those, 19% report doing so daily. There is no doubt that marketers see this as a viable component of a multi-channel marketing platform.
eMarketer reports that 80% of all internet users will watch at least one video in 2008. If you’re counting, that’s 52% of all Americans, or 154 million people.
News-centered content is the most watched. Think about how you can leverage that preference to benefit your business-to-business efforts. Both customers and prospects are actively seeking reliable content sources. If you can become one of them, offering professionally produced online video that delivers timely information about your industry, products and services, your relevance to your targets is increased.
Are you ready for your close-up?
