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Entries Tagged as 'Strategy'

Danger! Distraction ahead!

March 14th, 2014 · Marketing, Strategy

Dangersign1_optThere’s a lot of discussion around the notion that our attention spans are shortening. Forbes recently blamed it on social media and the nonstop 24/7 media barrage.

While I think our uber plugged in lives certainly contributes, there’s more to the story. Yes, we are being bombarded with more information than ever before but we also distract ourselves when we don’t keep things in perspective.

For example, one of the greatest dangers to our focus is actually all the attention we afford our competition. Should we keep an eye on them? Sure. But we shouldn’t let them pull us off course.

Have you ever had the experience of driving along, paying attention to something off in the horizon and next thing you know, you’ve driven to that spot?  And it wasn’t where you meant to go?

The same phenomenon can happen in your business.  Most business owners I meet pay a lot of attention to what their competition is doing.  In the good old days, you might watch for a competitor’s ad in the newspaper. But today, you can track tweets, Facebook page updates, their Pinterest boards, blog comments and a whole host of other streams of information. You could literally be monitoring your competition like it was a full-time job. While we definitely need to keep an eye on the competitive landscape, there’s a very fine line.

The danger in keeping track of the other guys is that you lose track of your own path.  We tend to move towards what we pay attention to. (Re-read that last sentence…it really is that important.) You don’t want to let your competitors determine your marketing strategy and that’s exactly what’s going to happen if you spend too much time and energy keeping an eye on their activities.  When you feel it happening your brain needs to broadcast – Danger! Distraction ahead!

Or else, you’re at risk of:

Deplete your resources: You have only so many hours and so many dollars. If you let your competition re-direct your attention and your marketing messages – pretty soon, you’ll run out of opportunities to tell your own story.

Look like you’re playing the “us too” game: No one is impressed with a copycat. Even the coolest idea or product benefit falls flat when someone else has already claimed them as their point of difference. No one’s going to see you as an industry leader if you’re always a follower.

We know that it takes a fair amount of repetition to seed your message. The last thing in the world you want to do is invest time, money and your audience’s attention just to divert it with a completely different message that is in reaction to your competition. It’s like getting to the final mile marker of a marathon and then swerving off course, only to have to go back to the starting blocks when you want to resume your own race.

You want to be the leader in your industry, not follow someone else.  The best way to beat your competition isn’t watching what they do.  It’s doing what you should be doing.

If you have and follow a marketing plan — you can enjoy the best of both worlds.  The marketing plan keeps you on your course and heading in the direction you have determined.  When you know where you’re headed and keep checking the map to see that you’re on course, you can afford to peek at what the competitors are doing.

You should keep an eye on your competitor…but you shouldn’t let them change your game plan. It’s much easier to stay on track if you have a well-defined track to begin with.

Odds are, if you set and follow your own course, your competitors will be the ones following you.

 

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Top 5 books every marketer should read

September 24th, 2013 · Books, Growing & Learning, Marketing, Strategy

I don’t believe you can be successful if you don’t keep ingesting new ideas, information and stories.  As you know, I’m a big reader and try to get through a book a week to keep my brain’s juices cooking.

For a recent presentation, I was asked to provide my all time top 5 books every marketer should read.  I thought you might find it valuable as well.

In no particular order — here are the books that you need to own, read and re-read.

The top 5 books every marketer should read

Baer - Top 5 books every marketer should readJay Baer’s Youtility (Click here to buy on Amazon*) offers a new approach that cuts through the clut­ter: marketing that is truly, inherently useful. If you sell something, you make a customer today, but if you genuinely help someone, you create a customer for life.

Drawing from real examples of companies who are practicing Youtility as well as his experience helping more than seven hundred brands improve their marketing strategy, Baer provides a groundbreaking plan for using information and helpfulness to transform the relationship between companies and customers.

Handley & Chapman - Top 5 books every marketer should readContent Rules (click to buy it on Amazon*) by Ann Handley and C.C. Chapman. Blogs, YouTube, Facebook, Twitter, Google+, and other platforms are giving everyone a “voice,” including organizations and their customers.

So how do you create the stories, videos, and blog posts that cultivate fans, arouse passion for your products or services, and ignite your business? Content Rules equips you for online success as a one-stop source on the art and science of developing content that people care about.

Davenport - Top 5 books every marketer should readKeeping up with the Quants (Click to buy on Amazon*) by Thomas Davenport.  Not normally my type of book but when in Rome…. welcome to the age of data. No matter your interests, your industry, or the type of organization you work for —your world is awash with data.

As a successful manager today, you must be able to make sense of all this information. You need to be conversant with analytical terminology and methods and able to work with quantitative information. This book promises to become your “quantitative literacy” guide—helping you develop the analytical skills you need right now in order to summarize data, find the meaning in it, and extract its value.

Harry Beckwith‘s Selling the Invisible. (Click here to buy on Amazon*) It may be almost 15 years old, but it’s still right on the money and a brilliant read.

Beckwith - Top 5 books every marketer should readIn Selling the Invisible, Beckwith argues that what consumers are primarily interested in today are not features, but relationships. Even companies who think that they sell only tangible products should rethink their approach to product development and marketing and sales.

Beckwith provides an excellent forum for thinking differently about the nature of services and how they can be effectively marketed. If you’re at all involved in marketing or sales, then Selling the Invisible is definitely worth a look.

Calloway - Top 5 books every marketer should readJoe Calloway’s Becoming a Category of One (Click to buy on Amazon*) reveals how extraordinary companies do what they do so well and gives you the tools and ideas to help your business emulate their success. Packed with real case studies and personal reflections from successful business leaders, it helps you apply the best practices of the best companies to set yourself apart from your competitors and turn your business into a market leader.

Whether you run a multinational corporation or a two-person start-up company, the lessons you’ll find here apply to any business.

And because I believe there’s always another great book to discover…a bonus book or two.

Ariely - Top 5 books every marketer should readDan Ariely’s Predictably Irrational (click here to buy on Amazon*) draws on psychology and economics, behavioral economics can show us why cautious people make poor decisions about sex when aroused, why patients get greater relief from a more expensive drug over its cheaper counterpart and why honest people may steal office supplies or communal food, but not money.

According to Ariely, our understanding of economics, now based on the assumption of a rational subject, should, in fact, be based on our systematic, unsurprising irrationality. Ariely argues that greater understanding of previously ignored or misunderstood forces (emotions, relativity and social norms) that influence our economic behavior brings a variety of opportunities for reexamining individual motivation and consumer choice, as well as economic and educational policy.

Farber - Top 5 books every marketer should readAnd…not specifically a book for marketers — a book for leaders.  This is one of my all time favorites.  Steve Farber’s Radical Leap Re-energized.  (Click here to buy on Amazon*) The Radical Leap Re-Energized is an expansion and revitalization of The Radical Leap, which was named as one of the 100 Best Business Books of All Time by Covert and Sattersten.

It’s a novel told in Steve Farber’s humorous, poignant, and original voice that takes the reader on a deep exploration of the qualities and practices of real, or Extreme Leadership, and how to apply them in daily life. Part One, The Radical Leap, explores the leadership elements of Love, Energy, Audacity, and Proof; Part Two, The Radical Edge, takes the discussion deeper into innovation, personal clarity and guidelines for changing the world. It sets a new standard for what it means to really lead in today’s business world and beyond.

Now get reading!

 *All of these are affiliate links.

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4 tips for writing a strong case study

September 20th, 2013 · Copywriting, Customers/Clients, Marketing, Strategy · 26 Comments

Everyone loves a good story.  And there’s a reason why Aesop and others opted to teach their life lessons through stories that have been told and re-told for many years. Case Studies are the marketing version of Aesop’s Fables. Stories told to make a point or teach a lesson that demonstrates the value of your [Read more...]

What does this pricing strategy say to you?

September 9th, 2013 · Marketing, Strategy · 9 Comments

How thoughtful are you about your company’s pricing strategy? Let me give you an example. We use an on-line vendor to provide extranet services for our clients.  We’ve been with them for over five years.  We recently discovered a better, cheaper solution.  It wasn’t the cheaper that sold us.  It was the ease of use [Read more...]

Useful = today’s marketing secret

September 3rd, 2013 · Books, Psychology, Sales, Strategy · 29 Comments

Let’s look at the reality: Fragmented media choices Permission-based media on the rise Ability to filter, skip, ignore irrelevant advertising Nothing beats word of mouth A jaded, cynical consumer Consumers tuning out, taking over and talking loudly about brands That mountain of challenges is what faces marketers every single day.  So how in the world [Read more...]

Is it time for a website re-design?

June 18th, 2013 · Strategy, Web/Tech · 7 Comments

In today’s marketplace, a company’s website is their first impression with prospects. It’s a rare purchase today that doesn’t begin with some sort of research or due diligence. And as consumers (both B2C and B2B) find themselves more time starved and more web savvy – the research tool of choice is often a Google search. [Read more...]

Guilty of the frantic scramble in your marketing?

June 5th, 2013 · Marketing, Strategy · 8 Comments

I grew up in Minnesota in the 70s and I love football which meant that back when I was a kid, my world revolved around the Minnesota Vikings and our incredible quarterback, Fran Tarkenton. At the time of his retirement, Fran owned EVERY major quarterback record out there. Fran was known as The Scrambler because [Read more...]

In marketing the constant is change

May 29th, 2013 · Strategy, Trends · 2 Comments

You know, the annoying thing about clichés is that they’re based in truth, even though that truth may be a bit worn in places. And lately I’ve been very aware of the idiom “the only constant is change” as it relates to business and especially to marketing. Maybe it’s always been this way and our [Read more...]

Moving your prospects to the next step

May 17th, 2013 · Psychology, Sales, Strategy · 5 Comments

When you’re creating any sort of communication aimed at a potential buyer, you want them to do what? When I ask this question, I typically hear a range of answers like: • Know more about our business • Understand how we’re better than our competitors • Wonder if we’re the right fit for them And [Read more...]

Marketing is getting the details right

April 15th, 2013 · Marketing, Strategy · 9 Comments

Marketing is getting the details right.  And its always the simple things that companies mess up.  Lt me give you an example. As you may know, I travel quite a bit. I’m a big believer in maximizing my travel by being a loyal brand consumer…which gains me status, points and makes my travel life easier [Read more...]