tag:blogger.com,1999:blog-77288591026659528382024-03-13T16:29:40.172-07:00The Marketing Service Department by David R. LindquistActionable and thoughtful insights on marketing and market research for clients and friends of Marketing Tune Up by David R. LindquistDavid R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.comBlogger184125tag:blogger.com,1999:blog-7728859102665952838.post-55545075619879712332018-05-23T08:12:00.000-07:002018-05-23T08:12:03.181-07:00The Easy Path to Over TargetingThere is a popular film now in theaters featuring a huge cast of superheroes. Various figures and groups of heroes appearing were featured in earlier films. Each of these films was successful enough that it is clear the producers thought that combining them in ever-larger combinations would be an even greater hit. Well, maybe. And this is an object lesson for any business.<br />
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My argument is that too many targets can weaken the entire marketing campaign.<br />
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Why? Let's look at our "Mega-film". Twenty two characters can only have so much screen time and some, from what I understand, don't even have any lines! If I am a fan of "Steel Guy" I am in risk of being annoyed that "Furry Creature" is eating into my hero's face time. And that's assuming the film isn't a hopeless mishmash. (Which some critics say it is.)<br />
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Similarly, if I attempt to message too many different target audiences I risk weakening my message and creating the image of not focusing much on whatever, say, Target Group A wants when I try to throw a line out to B at the same time. This creates the possibility I'll look like too much a generalist and easy to disregard in favor of a specialist competitor.<br />
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Bottom Line: Be careful not to pile on with the superheroes and end up creating a badly diluted campaign. Focus a given message on one carefully identified target audience and give that target the largest possible face time with your product and service. David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-85921496620481533002018-05-02T06:11:00.002-07:002018-05-02T06:11:34.941-07:00The Dangers of Dumbing DownCall me old fashioned, but I am increasingly irritated by a rash of "dumbed down" advertisements in today's pop culture. These sorts of messages may not work as expected.<br />
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What do I mean? Ads that use excessive vernacular or childish words (my current peeve is "melty"), display infantile behavior, affect "edginess" and which assume that the consumer is mentally about age seven. My suspicion is that, like too many businesses, there is a lemming-like desire to speak to the so-called Millennial Generation and that the agencies presume that Millennials are a pack of underdeveloped lightweights. To be sure, some are. However, my long experience assures me that the vast majority are highly intelligent consumers.<br />
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People respond to complimentary images in advertising. That is, if they see themselves in a message, they will be more attentive. If they see something else, they're almost certainly going to tune out. Or worse, if they see offensive stereotypes they may react more forcefully---by sharing their negative impression with others.<br />
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My guess is that the sort of advertising I described above is backfiring. Those campaigns are likely not creating much in the way of new customers and may even be driving out previous customers. <br />
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Bottom Line: It is always the best policy to speak to potential customers in a manner that assures them that you respect them. My advice is never to react to pop culture cues and speak down, and never describe customers as fools. There is a positive payoff to "smarting up".David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-81277217647186998512018-04-05T12:11:00.000-07:002018-04-05T12:11:00.645-07:00(Re)freshing ThoughtsI've just spotted the most delightful advertisement on the side of a tractor-trailer. The name of the advertiser isn't important, but the message was wonderful. It read "the freshest thought in fresh mushrooms." <br />
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Step back a moment and consider this. There's almost nothing intrinsically exciting about mushrooms (to non-foodies, at least). Getting a consumer excited about them is going to be a challenge. <br />
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Yet here is an advertiser who grabbed the bull by the horns and embraced the challenge. They didn't hesitate to call attention to the humdrum commodity product and add a new layer of depth without going over the wall. By this I mean they didn't use hyperbole (e.g. "the best mushrooms ever", or "our mushrooms are the freshest). Instead they suggested that they're doing some serious thinking about delivering the freshest possible mushrooms. Heck, one thinks, if they are so dedicated to mushrooms their entire produce line must be wonderful! In all, a deft touch. <br />
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Bottom Line: Sometimes the route to a good message is through the humblest offerings. A marketer must not disparage or fear humble fare, and by embracing it with gusto and plausible language can gain the attention of a prospect. <br />
<br />David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-18600835217732498652018-03-23T11:52:00.001-07:002018-03-23T11:52:25.048-07:00Lessons from HistoryI recently came across a discussion of what many scholars consider the oldest known example of advertising and content marketing. It is a wonderful object lesson in the essentials of good messaging.<br />
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One Hapu, a rug merchant in ancient Egyptian Thebes, posted handbills asking help in tracking down a runaway slave. To faciliate the hoped-for reunion, Hapu provided some details on where respondents might find him. <br />
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But Hapu was a clever fellow and didn't stop at his street address. He went into profuse detail on his wares, advising that he had the trendiest carpet designs and exciting colors. In short, Hapu made sure to do his content marketing to inspire some sales.<br />
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Here we are, 5,000 years later and the rules are the same. Prospects want to know how and where to find you and understand your market advantage, products and services and how those make their lives better. The only real difference is that Hapu had access to limited (albeit state of the art for his time) marketing channels. I'm willing to guess that Hapu put up those handbills in the right places to optimize his chances of reaching his real target customer.<br />
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Bottom Line: It is so easy to be distracted by the razzle-dazzle of the up-to-the-minute ideas in marketing science. But in the end we must be guided by the eternal truths of messaging. As you get your message out, think like Hapu and focus on the right message for the right audience. Learn the time-tested lessons of history.David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-87259317562580892282018-03-09T06:36:00.004-08:002018-03-09T06:36:42.407-08:00A Retreat From Social MediaRemember the 1990s when "dot.com" startups were such a rage? And then the bubble burst? I'm beginning to think something similar is taking place in social media marketing.<br />
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For the last several years I have observed with great interest enormous emphasis placed on social media marketing. Everyone talks about it, but I don't see the great results. In fact, quite a few of my small business peers are complaining that social media isn't much of a force for them.<br />
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The reasons are legion. Rules are unpredictably changing, costs are always higher than expected, and "clicks", likes, and especially purchases are not anywhere near aspirations. Add to that a highly fragmented marketplace and you have yourself a very unsatisfying "solution."<br />
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I think there will be a steady retreat from social media marketing to something more reasonable. I think there is a place for this channel but it will be down the list a bit when all is said and done. To echo the 1990s, a bubble is bursting and the casual adherents will find something new to try.<br />
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Bottom Line: Marketing will in all probability be less successful than ever on social media. It's time to think carefully about the channels you need to use to be most successful. As always these will be aligned with your target customer. Don't rule out more traditional channels if they are the gateway to your best prospects. And as always, be leery of fads!David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-4067221285418312652018-02-08T12:18:00.001-08:002018-02-08T12:18:13.781-08:00Not long ago I engaged a fellow professional networker in conversation---someone I'd never met before. The conversation instantly fell apart, and the "why" should be of concern to everyone who interacts with a prospective customer.<br />
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My opening gambit was to ask for a business card and the statement that I was interested in the pertinent service on behalf of someone else I knew. And I stated a specific reason for the interest.<br />
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I expected follow-up questions from the service provider so that more insight in my interest could be gained. To my utter surprise, the person refuted my reason and began a lecture -- with statistics -- to buttress the refutation. <br />
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A better way to have handled this was for the person to <u>validate</u> me and understand my perspective, and to reinforce that with additional ways to use the service. After all, I was a hot lead. Who cares why I might want to buy unless I was absolutely a poor fit. Which I wasn't. <br />
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As one would expect, I disengaged from this unproductive discussion and scratched this provider from my hot list. I'm not going to do business with someone who fundamentally disrespected me.<br />
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Bottom Line: When a prospect reaches out, every effort should be made to welcome and validate that prospect. After that, take time to better understand the prospect's needs and share ideas for making the prospect's experience the best it can be. <br />
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<br />David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-5578483953577849822018-01-24T07:44:00.000-08:002018-01-24T07:44:29.696-08:00The Personal EquationA recent conversation with a client reminded me that the very best marketing is often one that brings the person to the front. This client bemoaned the struggle to gain traction using some of the most impersonal marketing that could be used. This is unfortunately quite common.<br />
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Especially for a new business a connection with prospective customers must be made. Channels like print advertising, email marketing and flyers are so prevalent that prospects won't perceive merits in the new business. Often the business owner has such presence and charm that their personalities can make a huge difference and channels that recognize that will be vastly more effective.<br />
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In such cases, adding messaging that's conveyed in person (e.g. trade shows, sidewalk sales), video or even audio will create an important advantage. Video, especially, can be added to web sites, shared in emails and social media, and (via QRC) on any print message.<br />
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Bottom Line: Put your personality to work in your marketing! Look for opportunities to share personal messages through a visual or auditory media and help clients better understand you and what you have to offer. Don't let your work and presence get lost in the blizzard of impersonal messages.David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-86056141125561939342017-12-14T10:18:00.000-08:002017-12-14T10:18:02.968-08:00Taken For GrantedMy neighborhood was recently added to the network of a telecommunications provider (the third available to us), providing a story of what not to do in a rapidly expanding competitive environment. <br />
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It has been widely expected that Provider III would be entering this market, and that the company would have a good chance to enroll customers simply because Providers I and II had developed some adverse images. This is a moment when a sharp incumbent provider would take steps to minimize that opportunity. For example, the threatened Providers could have undertaken some appreciative outreach to their existing customers, renewal price deals, whatever. Even a simple Thank You letter could have been issued. As it stands, I get the message that my Provider takes me for granted.<br />
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Amazingly, neither Provider has done much of anything. My own current Provider is grotesquely silent. The other put up a couple of pathetic tiny "we offer fiber" signs in the neighborhood. Can they be so confident that Provider III is no threat?<br />
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I don't think complacency is a good idea at all. Customers want to think they're valued and appreciated. If their vendor does no more than send bills even when a new suitor---especially one with a better reputation---knocks on the door. Appreciative outreach won't save every account but it might reduce potential losses.<br />
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Bottom Line: Do you take customers or clients for granted? Do you show appreciation for their choice of you as a vendor? Don't make it easy for a competitor to poach your hard-won accounts!David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-30502280152027273382017-12-01T07:12:00.000-08:002017-12-01T07:12:49.750-08:00The Facebook Live WaveThe Facebook Live video tool is becoming more popular within my networking circles, replacing (if relevant) traditional prepared-in-advance "studio" videos. It's certainly a fine utility to add to a small business owner's toolkit, one that does well in projecting energy and "hot" ideas and which establishes a connection with the customer. As with all things, a little thought is in order before use.<br />
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First, select a setting that makes sense for you and your brand. Avoid noisy places, settings with too much or too little light, and anywhere with any odd or distracting elements. A neutral background makes most sense. I've seen some done from the driver's seat of a car---something that strikes me as reminiscent of reality TV shows and therefore a little off---but as long as that fits your normal style it should be fine.<br />
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Second, keep in mind that if you are going to use or display any text whatsoever that it will be reversed or flipped in the video (an artifact of the camera). Some folks I know deliberately print signage in reverse to overcome this. You may also want to select a background without any business or street signs that can be distracting.<br />
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Third, consider doing a dry run before recording. Too many of these videos come across as scatterbrained and/or loaded with "ums" and "ahs" as the speaker strains for a thought. A Live video ought to be short, so that rehearsing is not a burden. <br />
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Finally, please do have a thought! Sharing an idea or promoting an event is what a Live video ought to be all about as opposed to broadcasting "just because." The viewer will appreciate the judicious request your time.<br />
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Bottom Line: Don't shy away from Facebook Live. It can be a wonderful tool for a business. But at the same time be careful in how it is used and spend a little time with the details to optimize the experience.David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-84434294107542281742017-11-14T11:56:00.001-08:002017-11-14T11:56:21.356-08:00The Right BalanceAn entrepreneur I know well has been ramping up messaging on social media pages and email contacts with a surprisingly candid, yet highly effective approach. It's refreshing!<br />
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I'm hardly ever impressed by braggarts. Perhaps you know the type. Those folks claim to be the absolute best in their field or geographic area on little more than their own say-so. It's a bad place to be when, if met face to face, they are found wanting. There is but one place for their brand to go.<br />
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My peer mentioned above has been brave enough to talk about a time when she was, at least in her own view, less effective and wracked by self-doubt. She then talks about her story overcoming those doubts and how she put her own medicine to work building a consulting practice. And that leads to a discussion about how she in turn helps others present themselves to best effective.<br />
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What works so well in this messaging is the vulnerability. I think that doing so establishes a genuineness and credibility with the audience. And when someone meets my peer, I think they only find a consultant who is more effective than she claims. She laid the foundation where there is really only one place to go---up. <br />
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Bottom Line: Look at brand messaging as an opportunity to establish a genuine "you." Writing a story to share is a wonderful way to start. Use that exercise as a means of eliminating braggadocio and undue claims. A genuine person is most likely to attract clients and customers.David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-89921938962534818892017-11-03T10:46:00.000-07:002017-11-03T10:46:01.596-07:00Hyperbole: A Two Edged SwordThis past week I came across a brochure published by a professional service provider whom I know well. It was a marketing piece that I think will work against this person.<br />
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The thing had obvious flaws: amateur production quality, abuse of fonts, underlining, and color, and ill-chosen illustrations. All of these might have been forgivable had the brochure's text not been thick with hyperbole and overstatement.<br />
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I think that as a basic rule a marketer needs to use adjectives with care. One or two chosen ones is ideal. A few more if they can be justified. More than half a dozen? Never. In the case of the professional with the brochure, self-congratulatory adjectives rained from the heavens. In the "address" block alone were more than five. I don't know that they were all justified. When someone tells me that (in their opinion) they are extraordinary, I'm going to need extraordinary proof. <br />
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The reality was that the professional, while a pretty nice person, tends to be their biggest single admirer and the services are satisfactory, not exceptional. That language, tied with the cheapskate production of the brochure, was off putting. And if I am not alone... you get the point.<br />
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Bottom Line: Be careful with the use of hyperbole. If you can't objectively assess your market value (and potential) ask someone else to review the text. Many small business people can use more promotional language---there are many with "imposter syndrome", but far too many take adjectives to an extreme. And that can deeply hurt a business!David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-44293897340085067772017-10-17T11:41:00.001-07:002017-10-17T11:41:42.243-07:00Muddy MessagingA large company is currently running a series of ads on the television. They're pretty bad. For one they are 100% "Brand X" spots in which their only statement is that the competitor is "bad." And for another, they're poorly recorded so that some of the actors' lines end up as mumbling. <div>
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What is worse is that their message is remarkably muddy. I do not know who the target audience is. The actors involved portray conspicuously "bad" archetypes yet bitterly complain about the competitor, which is, as noted, "bad". Does that mean that the poor folks buying service from the competitor are awful? (and undesirable?) or is it that even the competitors' base are too dumb to switch?---or, perhaps, are as dumb as the advertiser thinks its own customers are? No matter which way I look at it, there is no obvious target in mind.</div>
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Advertising is expensive and every word, minute, and image counts. There should be no question who is the intended audience nor how the advertiser will help that audience. Anything else is a waste of good money.</div>
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Bottom Line: How muddy is your message? Is it obvious who you are having a conversation with? what you're inviting them to do? how you can help? Solicit other opinions before committing money to a campaign. Don't confuse "good" with "bad"!</div>
David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-92201059467785724762017-10-06T07:23:00.001-07:002017-10-06T07:23:50.423-07:00The Power of StoryA recent conversation with a client illustrates the power of story in not only messaging but refining a target customer. <br />
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The case involved marketing a health-focused product. Our conversation began with a better understanding of a fairly vague target. The client told her own story of becoming a customer of the product and it occurred to me that the story was much more useful than the client expected: that is, while it was on the one hand a marvelous device for expressing the client's passion, warmth and energy and the product's virtue, it was also a means of connecting with the right target. And in this case someone more or less exactly like the client. <br />
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I invited the client to fill in the details of the point where the product changed the client's life and to think of speaking to those in the same life circumstances, as if a group of friends. The story will become a valuable video in the client's messaging.<br />
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Bottom Line: Having difficulty narrowing your focus to an ideal target customer? Consider writing down your own story on how you came to offer your own particular product or service and then visualize who you're speaking to as concretely as possible. You should begin to gain some very valuable perspective as well as juice up your own messaging!David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-14027330841228262572017-09-19T08:26:00.000-07:002017-09-19T08:26:01.405-07:00The Power of the Change of PerspectiveIt is sometimes the case that a change of perspective can make all the difference. I have had many conversations with business owners who are so close to their own work that they can miss opportunities more readily seen by another.<br />
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Two recent cases provide some illustration:<br />
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A client expressed some frustration that a networking group was heavily represented by people who were not her target customers. But as it turned out, those networkers were married to target customers. The suggestion was to develop a special event that brought in the networkers to help them with gift giving to their partners! We used a simple but effective one-off to reach the actual target customer.<br />
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Another client was no longer reaching target customers at a set of venues---large universities. Her virtually-identical messaging, once dependable, wasn't generating responses. A proposal was to turn to the next tier down (smaller colleges) which have very similar students but who have different, more attractive circumstances. <br />
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In both cases the business owner hadn't seen the possibilities, being a little too close to the usual and expected marketing approaches.<br />
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Bottom Line: Are you having marketing challenges? The remedy may be as simple as seeking another person's perspective to permit some out of the box thinking. Don't let your closeness to existing solutions limit your possibilities!David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-1188479628670588092017-09-08T07:41:00.000-07:002017-09-08T07:41:02.859-07:00Proper Preparation is EssentialA distinguished colleague yesterday told me about some of her recent client situations and in particular how few were really prepared to take advantage of her services building a client base with funnel methodologies. Some had only the sketchiest idea who is their target customer. This is disappointing and a striking challenge for our small business community.<br />
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Having a well defined target is absolutely essential. It is not going to work to say that "my customer is everyone who needs my service", or that "anyone is my best prospect." Marketing is costly and time consuming and must be rationed to only the absolutely best market segments. <br />
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It does take courage to be willing to focus narrowly. And it may require some market research to determine that focus. But it must be done. And when you are prepared to look for that sharpest and best defined segment (in terms of age? gender? location? circumstances?) one is then properly prepared to put the professional services of those like my colleague to best effect.<br />
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Bottom Line: Step back today and think about your own best target prospect. Narrow to a particular demographic or behavior who is absolutely most likely to pay for your product or service. And only then look at the appropriate marketing channel for your business.David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-85357334202105840092017-08-29T10:42:00.002-07:002017-08-29T10:42:53.603-07:00Customer AlienationIn this age of sharper political conflict, a truly sad consequence is alienation of customers. Some of this alienation is forced upon a business through a boycott, either because a business has taken a stand of some kind that others find disagreeable or worse, because the business owner is identified as a target because of their ethnicity or gender.<br />
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There is another class of alienation that I just don't get. In this case a business owner (or CEO or other high ranking official) affirmatively drives off customers. In the cases of which I am aware the rejected customers voted a certain way. This goes beyond saying, "If you voted that way, you'd best understand we have different values than you, so don't complain". <br />
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There is a huge danger here. <br />
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Consider that it is hard to win customers. Proof? Consider how much money or time we spent promoting, advertising and marketing businesses. If you spurn a large segment of the marketplace, you're going to have to make it with what's left. In these political cases some of these businesses are redlining half or more of their prospect base. And they're doing so when research is showing that quite a few of the remaining prospects don't like those businesses because they're national franchise operations lacking local charm and character.<br />
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This is no way to run a business. Shouldn't this be about serving people with the best product or service?<br />
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Bottom Line: It's hard to build a customer base and easy to destroy one. Business owners should be leery of putting agendas before customers. Stay away from toxic messaging!<br />
<br />David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-20559121345434966702017-08-23T08:21:00.001-07:002017-08-23T08:21:33.267-07:00Video Marketing Uh OhsVideo is coming of its own as a marketing channel. It's fresh, it's real, it's inexpensive. Many small businesses are projecting a wonderful image using this technology that not long ago was beyond the reach of all but the biggest players.<br />
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But video can be a headache, especially when easily avoided pitfalls arise. I have seen plenty of videos from small marketeers and there are some small matters to avoid. Here are a few.<br />
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1) Watch your audio. Cell phone and camcorder cameras usually yield a low quality audio or one that sounds hollow and cheap. A wireless microphone can make a world of difference.<br />
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2) Frame the picture. Don't find yourself hiding in the bottom third of the screen. Try a test video to fine tune the actual framing.<br />
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3) Beware reversed letterings. Many home made videographers find that signs, labels and other items with words on them get reversed and that doesn't look good! Remove obvious distractions or print them reversed so they come out right.<br />
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4) Finally, watch those verbal tics. Be careful of "ums", "and uhs" and other tics that distract from the message.<br />
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Bottom Line: Video can be an impressive tool for small business marketing success. Be sure yours is as outstanding as possible by tending to the little details!David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-44872812565890866262017-08-14T12:03:00.002-07:002017-08-14T12:03:15.065-07:00A Strange Way to MarketLately I have been watching a strange marketing campaign. It strikes me as one that violates all of the rules of successful marketing strategy. It isn't working, but its promoter is only doubling down and making a more frantic effort along the same lines.<br />
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The marketeer chose as the strategy a variation of the old "Brand X" model where a brand seeks an advantage over a competitor by pointing at defects in the competitive product. Over time Brand X campaigns have gotten shallower and even nastier. (An example: an ISP even practically grunts, Tarzan-style, "Us good. Them bad".) <br />
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Our example advertiser doesn't spend any time or energy promoting their own product. Everything is directed at assailing the competitor, describing it and the competitor in the vilest way, advancing extremely dubious claims that often don't hold water, and hinting rather conspicuously that the product could only be desirable to subhumans. What is worse is that the marketeer in question actually attacks consumers of the alternative product as idiots---and much worse.<br />
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Step back and think about this. You want to command the market and sell your product. To do that you need more consumers. To do that you need to convince those prospects to buy yours. And yet you....insult--and attack--those prospects. What a strange, foolish way to do business. It is no wonder that the advertiser is failing miserably with declining sales over time. Yet that advertiser persists and is doubling down with stronger, nastier insults.<br />
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Bottom Line: Are you selling with a Brand X or derivative strategy? Are you finding yourself, even unintentionally, attacking prospects who go elsewhere? Always return to basic principles of informing and courting prospects and where competitors exist only pointing out your own competitive advantages rather than any self-perceived deficiencies.David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-85967350473402534552017-08-08T12:05:00.001-07:002017-08-08T12:05:51.255-07:00Rushing to Re-cohortTake a look around you and everywhere everyone is proclaiming that it is essential to re-engineer what they do to cater to the so-called "Millennial cohort" (which I would characterize as those in the economy who are in their 20s and 30s). This goes beyond simply ensuring that new and younger prospects are not overlooked: it is a full bore demand that the entire marketplace adapt to these consumers.<br />
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I think there's way too much change being sought. And it could backfire on those who reshape their appeal. <br />
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A business that puts all its eggs in the Millennial basket and fails to make the sale to that archetypically-feckless cohort risks losing its existing customer base and then has no choice but to fold. I am seeing this sort of thing playing out with some large department chains and casual restaurants. <br />
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Even some businesses that play the Millennials' game are doing poorly because the stated Millennial core philosophies don't always lead to market success. The fingerprints here are seen in greatly reduced productivity and unfocused management.<br />
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Perhaps worst of all, I see increasingly inane advertising campaigns darn near everywhere that I am certain are generated by older cohorts in search of Millennials they don't understand.<br />
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Bottom Line: I continue to believe that products and services will continue to make sense if they solve real consumer needs and represent quality and attention to the customer. Flighty efforts to focus on a single age cohort may not be appropriate in all circumstances.<br />
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<br />David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-47255351130111123362017-08-01T06:48:00.001-07:002017-08-01T06:49:00.188-07:00A Case Study in Image Self-DefeatI recently encountered a gentleman who promotes himself as an exceptional specialist in his field, one that charges considerable fees. I don't have any personal experience with or know anyone who has been able to speak to this fellow's competence, but I was instantly skeptical.<br />
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The clincher was the brochure. It simply didn't look like it came from an exceptional, experienced professional. It was home-generated on a loud, garish colored paper. It used fonts that were hard to read. Much of the text was written poorly. It wasn't even folded into a neat trifold! <br />
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Was I unfair to the professional? I don't think so. It is one of the first tenets of marketing that you take the trouble to build the best possible image. And for someone who has had some decades of business behind him, there's just no excuse for getting easy stuff right. I looked at the brochure (and listened to a rambling and fairly incoherent presentation) and concluded that if he was that sloppy with his image, the advice I might get would likely be as questionable.<br />
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Bottom Line: Take the time and expense to do the best possible image work. Don't let easy mistakes happen that can cause a prospect to question you. An image can be destroyed in seconds.David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-70615075646382123302017-07-28T07:59:00.000-07:002017-07-28T07:59:24.437-07:00Are You Sending Mixed Signals?It is surprising how many businesses send mixed signals to their markets. That is, their messages talk to different segments in different (and usually contradictory ways) or they speak to one segment with more than one message.<br />
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One example is a pizza shop in my city. They conspicuously brand themselves as a pizza shop (it is in their name) but they message as a traditional Italian restaurant. And they proclaim that they are a trendy night spot/bar but also a family-friendly dining spot. The result is confusion. And traffic is not there. <br />
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Another example is an entrepreneur who sells two entirely different products at the same time, advertising both financial planning services <u>and</u> a healthy living supplement. Because advertising time and space is limited, only half a message gets out at best for each line. The result is confusion.<br />
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Less glaring examples exist. Consider an advertisement that emphasizes low cost (something that appeals to a classic budget-conscious shopper) but also style/fashion/trendiness (something that appeals to a vanity shopper). They are in fact trying to sell to two different markets in the same space. And the result is confusion.<br />
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Bottom Line: How do you speak to your market? do you inadvertently send mixed messages to your market place? Are you trying to do too much with one advertisement or promotion? Can you simplify and speak to one target at a time and avoid trying to target too many different segments?David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-79225532363904455112017-07-25T10:49:00.000-07:002017-07-25T10:49:25.090-07:00Why Market Research?If there's one thing I have learned as an entrepreneur it is that most small businesses simply don't do any market research. To the extent that budgets are restrictive I can understand this reluctance. But there are so many good reasons to undertake some market research. Consider:<br />
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1. Market research means a better understanding of customers and prospects. People come to us to satisfy needs. We need to have a good handle of what those needs might be. And without market research we won't know about trends among our customers until it is too late.<br />
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2. Market research means a better understanding of competitors. It is difficult to differentiate ourselves from alternatives if we don't know what those competitors are doing. And without market research we will have a much harder time staying ahead of the competition.<br />
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3. Market research means a better understanding of our own products and services. We are sometimes too close to our own work to be able to spot imperfections.<br />
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Overall, market research helps us make better decisions because we have a better handle on our customers, prospects, products, services and competitors. <br />
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Bottom line: Moving along without market research is a risk. It means doing business on a hunch, assumption and pure faith. It means giving an advantage to a competitor who might be using this tool to better understand their market and better serving your prospects and customers. There are low cost ways to find better information. Don't let this opportunity pass you by!David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-71759738931322752242017-07-18T11:20:00.001-07:002017-07-18T11:20:55.527-07:00Good Brands Can Be UnderminedI'm not sure if it's a trend yet, but I haven noted the passing of a good many franchise businesses, predominantly restaurants, in recent years in my thriving and affluent metropolitan area. I think they are examples for a teachable moment in brand erosion.<br />
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To be sure, restaurants live on the edge and can close in a heartbeat. And to be sure, I've seen them come and go in my twenty-six years of residence here. It surprises me when a franchise goes belly-up in an up market. These businesses typically bring to bear substantial name recognition and ready knowledge of their offerings. <br />
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Are there food habits changing? I don't think that's the cause. Similar genre restaurants do quite well (some of the victims are fast food chicken, pizza, and buffets). People aren't necessarily eating healthier nor more cheaply, either. The economy isn't so iffy that overall dollars are drying up.<br />
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What I have seen at a few of these places is execrable customer service. And there is nothing so good at killing a business---even one with a major brand name. One local franchise holder was so bad at hiring and training good employees that at least three of their restaurant stores went down. In the next door metro, that franchise is thriving. <br />
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BOTTOM LINE: No matter how strong your brand might get to be, it can be wrecked by poor customer service. And where competition is strong, that effect could be even more intense. Make sure yours is top-notch! Remember that even a powerful franchise name can't overcome that!David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-64062154944387635432017-07-11T12:34:00.000-07:002017-07-11T12:34:10.882-07:00Market Research Can Save a BusinessIt's generally understood that good market research can help a business by identifying weak products and services, finding new prospects, and zeroing in on effective messaging. Sometimes, market research can save an entire business.<br />
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A case in point is a little online dating service called In Tune Hookup in the early 2000s. Its developers had difficulty making the video aspect work and didn't get any traction. A serious market research application suggested a realignment of the core business from the dating service (where there were a huge number of nearly identical competitors) to a wiki- format video sharing service. The result was Youtube, sold in only a few years later to Google for $1.65 billion.<br />
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Admittedly that is an extreme example (not to mention that there is disagreement about the origins of Youtube) but it isn't hard to find other cases where a business realigned to a profitable form after an outside perspective was applied. It can be difficult for a business owner to see as clearly from the inside when the enterprise encounters difficulty.<br />
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Bottom Line: Don't hesitate if the bottom line isn't where it should be. Find a market research professional or at least a business coach who can help spotlight trouble spots and if necessary recommend a realignment that could lead to wild success!David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0tag:blogger.com,1999:blog-7728859102665952838.post-34005484106578181992017-06-21T16:54:00.001-07:002017-06-21T16:54:31.956-07:00Web Sites Can Hinder YouI'm sure all of you have had dealings with ornery or unhelpful web sites. It is a truism that a bad web site can be quite costly with respect to lost business.<br />
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In fact, I just shut one off after a protracted fight. I am interested in having a service performed, but the web site is resolutely disinterested in giving me the tiniest shred of pricing information. I am forced to build the desired product with the online tool and only when done will I be informed what the bottom line will be. That is unacceptable.<br />
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Another web site I looked at had a cascade of page choices, all poorly labelled and none particularly useful. It was as if each page was labelled "The Information You Want is on the NEXT Page" (which would then bear the same label.) Ridiculous.<br />
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And let's not even discuss failure to provide contact information without a hunt!<br />
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These web site failures are, unfortunately, working for your competitors. Whatever other marketing you may do can be utterly undone by a web site. A web site provides clues on the way you do business and how you can (or can't) solve a potential customer's problems.<br />
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Bottom Line: Don't let a badly designed web site hurt you! Have your site reviewed by a friend or ally and if necessary engage a professional designer who does good work. <br />
<br />David R. Lindquisthttp://www.blogger.com/profile/01365501825737981908noreply@blogger.com0