Keeping up with the competition isn't easy if you are a small business owner. There are only so many hours in the day and so many dollars available for market research. Happily, in the Internet Era there are resources that can help get the job done. Consider our friend Facebook, home of millions of people, organizations and interests. This seemingly lightweight platform has features that can help a business keep one eyeball on competitors for no additional cost.
For starters, simply "liking" a competitor provides clues about market strategy, new products and services, and customer response (either by reading comments or counting "likes"). One can easily rank businesses by their total like counts and establish who are the "big dogs". More directly there is a "Pages to Watch" feature accessed through the Overview section of "Insights" that shows the business' postings, top posts, and customer engagement.
Use "Interests" to generate an interest list that includes businesses you want to watch. This is a way to keep eyes on things without letting the other side know you're doing it because you do not need to like the page to list it.
Log results of any metrics you track (such as number of page likes) to see how customer engagement may be changing over time. And don't forget to compare to your own to ensure your work is driving a better response over time.
Friday, May 29, 2015
Tuesday, May 26, 2015
Zip Code or Circle?
Attentive business owners, especially those who operate a physical location, understand their market in terms of a well defined local area. That is, they see the lions' share of customers coming from within a few miles/kilometers of that location. And they look at portrait of households and consumers within that radius. There are various ways to define that local area of which the two best are the local zip code(s) and a circle of a given radius around the business address.
Each has its strengths. It all depends on how the data are used.
Zip Code based data are best when paid advertising is being purchased. Print media usually think in terms of zip codes and can sell to selected ones, although direct mail would be most likely to cherry pick one or a few codes. In evaluating the print media's effectiveness a zip code report can be compared to reported demographics and your own typical customer.
Radius based data are best when applying some kind of door-to-door strategy, or its equivalent. And the radius will give a clear and comprehensive sense of who lives immediately around your location---something you want to do when deciding if you are effectively reaching your target customer. In every case the radius report will cover.
No matter what, it makes great sense to keep both of these data reports on file. The wise business owner continues to explore the local market and understand it. Let me know if I can help you find these critical data!
Each has its strengths. It all depends on how the data are used.
Zip Code based data are best when paid advertising is being purchased. Print media usually think in terms of zip codes and can sell to selected ones, although direct mail would be most likely to cherry pick one or a few codes. In evaluating the print media's effectiveness a zip code report can be compared to reported demographics and your own typical customer.
Radius based data are best when applying some kind of door-to-door strategy, or its equivalent. And the radius will give a clear and comprehensive sense of who lives immediately around your location---something you want to do when deciding if you are effectively reaching your target customer. In every case the radius report will cover.
No matter what, it makes great sense to keep both of these data reports on file. The wise business owner continues to explore the local market and understand it. Let me know if I can help you find these critical data!
Friday, May 22, 2015
More Thoughts on Thirty Seconds
As I network, I listen intently to others' "30 second commercials" and "30 second elevator speeches". As I have noted before these vary in quality. Another matter I notice is repetition. There is sometimes a place for it, but it does pay to freshen the text regularly.
In my thinking, a standard 30-second spot is perfect for known first contact situations, almost certainly in 1:1 environments like "speed dating". Those are absolutely cases where a first impression makes a huge difference. And in such cases the most polished delivery works for you.
Then there are networking groups, leads groups, BNI clubs, and more. Here, repetition of the same thing is deadly. I have reached the point in mine where I can almost reproduce some others' "30 second commercial" word-for-word. These poor folks have become wind-up monkeys and I see others tune out. I really enjoy speakers who always have something new to say, perhaps another way they helped someone, or a new fact that makes their service compelling, or a new way of understanding what they do. For the fresh-deliveries, in no cases is the core message changing. It is reinforced by supporting detail.
A great question for all of us. How fresh is our "30 second commercial"? Are people tuning in or tuned out?
In my thinking, a standard 30-second spot is perfect for known first contact situations, almost certainly in 1:1 environments like "speed dating". Those are absolutely cases where a first impression makes a huge difference. And in such cases the most polished delivery works for you.
Then there are networking groups, leads groups, BNI clubs, and more. Here, repetition of the same thing is deadly. I have reached the point in mine where I can almost reproduce some others' "30 second commercial" word-for-word. These poor folks have become wind-up monkeys and I see others tune out. I really enjoy speakers who always have something new to say, perhaps another way they helped someone, or a new fact that makes their service compelling, or a new way of understanding what they do. For the fresh-deliveries, in no cases is the core message changing. It is reinforced by supporting detail.
A great question for all of us. How fresh is our "30 second commercial"? Are people tuning in or tuned out?
Tuesday, May 19, 2015
Mobile Exposure
Google's recent announcement that the search giant would no longer index content on web sites that are not mobile device-friendly is a jarring but welcome jolt to our web site consciousness. Let's face it: the world is oriented ever more to the dictates of mobile devices. If our customers and prospects can't quickly and easily navigate our web pages on their smartphones and tablets we deserve to be bypassed.
This announcement should be seen as an opportunity, not a threat. By ensuring we are mobile-friendly we can take advantage of the enormous marketing power of a mobile device. A prospect can see our QRC, click immediately to a web site, click immediately for directions, contact information, and products and services---and all wherever they may be. The consumer can act immediately, not just when they remember, later, to look us up.
Take the trouble to verify that your web site is mobile device-friendly, if not already done so. A web designer can help. There are tools that can test web sites for mobility that will diagnose problems. Don't wait until it's too late!
This announcement should be seen as an opportunity, not a threat. By ensuring we are mobile-friendly we can take advantage of the enormous marketing power of a mobile device. A prospect can see our QRC, click immediately to a web site, click immediately for directions, contact information, and products and services---and all wherever they may be. The consumer can act immediately, not just when they remember, later, to look us up.
Take the trouble to verify that your web site is mobile device-friendly, if not already done so. A web designer can help. There are tools that can test web sites for mobility that will diagnose problems. Don't wait until it's too late!
Friday, May 15, 2015
Personal Presentation Pays Off!
As a regular at professional networking groups I am still amazed at the wide range of "personal appearance codes" that show up. I confess to being of the old school. And that means I am regularly shocked at what fellow entrepreneurs look like when making their presentations.
You can pay consultants a great deal of money to learn that one's appearance is a highly integral part of one's brand, and that someone sizes you up in seconds. Nevertheless, too many people do not get the message. This week at one group alone I beheld the following specimens, all arguing for me (and others) to connect them with customers:
(1) An older gentleman professing to have a background in banking, now in the food service, wearing soiled shirt (untucked), baggy shorts, and sneakers.
(2) A young lady in the real estate business, dressing like a bad parody of one of the Kardashians in her middle school years.
(3) A youngish man in torn jeans, a questionable tee shirt, and equally questionable piercings who runs a school of some kind.
Sorry, folks. I was unimpressed, and even alarmed. I had much higher respect for those who looked like they had respect for the process, wanted to be seen as professionals, and who were trying for heaven's sake.
Lesson for the day: we can all do better at sizing ourselves up and ensuring that our own appearance is aligned with the image we wish to convey to our prospects. A little effort can make a difference in projecting the best possible brand.
You can pay consultants a great deal of money to learn that one's appearance is a highly integral part of one's brand, and that someone sizes you up in seconds. Nevertheless, too many people do not get the message. This week at one group alone I beheld the following specimens, all arguing for me (and others) to connect them with customers:
(1) An older gentleman professing to have a background in banking, now in the food service, wearing soiled shirt (untucked), baggy shorts, and sneakers.
(2) A young lady in the real estate business, dressing like a bad parody of one of the Kardashians in her middle school years.
(3) A youngish man in torn jeans, a questionable tee shirt, and equally questionable piercings who runs a school of some kind.
Sorry, folks. I was unimpressed, and even alarmed. I had much higher respect for those who looked like they had respect for the process, wanted to be seen as professionals, and who were trying for heaven's sake.
Lesson for the day: we can all do better at sizing ourselves up and ensuring that our own appearance is aligned with the image we wish to convey to our prospects. A little effort can make a difference in projecting the best possible brand.
Wednesday, May 13, 2015
Aligning To Trends: What's The Way To Go?
No matter the era, it is a given that many if not most marketers will align their presentations, products and services to trends. I vividly remember a late 80s trend when manufacturers scrambled to make their products "clear", when ads first touted low-fat and low-calory, and so many more. Nowadays there is a strong "sustainability" trend with subplots involving "organic" and "local" accents. A question arises: is it worth getting on the bandwagon?
It's a tough one. On the one hand, we want our products and services to adapt to the market lest we find ourselves out of business. But on the other hand, consumers, I think, can spot the phony adaptations and claims.
I'm firmly in the camp of those who see value in aligning to trends only where it's plausible and necessary. To market, say, fried chicken and biscuits under a "gluten free" banner is just plain silly. But if I am in a zone where my product is highly competitive and can be adapted, say, if I sell soup and salad, I might want to adjust the menu accordingly to arguably healthy alternatives.
Furthermore, if I made changes that make sense, I'd caution toning down the advertising. I confess to be automatically suspicious when a marketing campaign trumpets from the heavens some alignment to a hot trend, as if it was a major triumph. Something softer, perhaps a second-level notice that says "...and check out our latest X which has less Y and tastes amazing" gets the job done without so much patronizing bloviation.
Last of all, think hard about any change in product or advertising that aligns to a trend. Remember that the trends come and go, and a mistake will cost your brand dearly. Keep up but don't move with a mindless herd.
It's a tough one. On the one hand, we want our products and services to adapt to the market lest we find ourselves out of business. But on the other hand, consumers, I think, can spot the phony adaptations and claims.
I'm firmly in the camp of those who see value in aligning to trends only where it's plausible and necessary. To market, say, fried chicken and biscuits under a "gluten free" banner is just plain silly. But if I am in a zone where my product is highly competitive and can be adapted, say, if I sell soup and salad, I might want to adjust the menu accordingly to arguably healthy alternatives.
Furthermore, if I made changes that make sense, I'd caution toning down the advertising. I confess to be automatically suspicious when a marketing campaign trumpets from the heavens some alignment to a hot trend, as if it was a major triumph. Something softer, perhaps a second-level notice that says "...and check out our latest X which has less Y and tastes amazing" gets the job done without so much patronizing bloviation.
Last of all, think hard about any change in product or advertising that aligns to a trend. Remember that the trends come and go, and a mistake will cost your brand dearly. Keep up but don't move with a mindless herd.
Tuesday, May 12, 2015
Color Your Customers' Emotions
This week I came across a discussion of the emotional power of color. This is terrifically interesting stuff for business owners especially as it relates to brand position. We have known for many decades that color can influence our emotional state: one need only visit a hospital ward to understand this. The theory here is that we have a subconscious reaction to branding color in the same way.
My own colors of choice fit right where I want them, conveying (according to the theory) confidence, cheerfulness and friendliness. Of course, these do not work in isolation and my own efforts in personal presentation must be complementary.
How do your color choices work within your brand? Are you well-aligned, radiating the most appropriate emotional connection? or are you clashing, say, being an ad agency that has a blue scheme? If they don't fit consider speaking with a design professional and taking steps to generate a cohesive whole!
My own colors of choice fit right where I want them, conveying (according to the theory) confidence, cheerfulness and friendliness. Of course, these do not work in isolation and my own efforts in personal presentation must be complementary.
How do your color choices work within your brand? Are you well-aligned, radiating the most appropriate emotional connection? or are you clashing, say, being an ad agency that has a blue scheme? If they don't fit consider speaking with a design professional and taking steps to generate a cohesive whole!
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