Posts tagged: market research

Make your company grow…listen to your customers

By , May 18, 2013 9:58 am

Market research – I’m referring to primary market research — takes time and energy and sometimes money.  But the results are amazing and don’t cost nearly as much as the time, energy and money you will waste by NOT doing it.  When you ask open-ended questions to your customers, the responses you get will help you cut through the clutter and develop a communication that speaks directly to the audience you want to sell to  (or whatever your goal is with that audience).

And this is where you, as a small business, have it over the big guys. Large companies are so invested in a point-of-view (usually management’s point-of-view, not that of their customers) that they can’t make an adjustment to respond to the information in front of them. Imagine being at the helm of a huge cargo ship and having to make a u-turn in a space as wide as 42nd St.  Not only is it not easy, it’s almost not do-able.  So when situations come up that require a quick response to get to the market, the big firms are basically out of luck. Which leaves lots of room for you … if you’ve done your research properly.

Check out Isaiah Adams’ post and how research can help you … and hurt you if you’re not listening to your audience.

http://blog.optimizationgroup.com/bid/281279/

 

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

10 Trends for Better Marketing and Results in 2013

By , March 23, 2013 10:08 am

Everyone loves top 10 lists.

So now that we’re ending the first quarter of the year…here’s some helpful directions to focus on in your marketing and business (they are in no particular order of importance)

1.       Integrate your marketing
As much as everyone would really love “the answer” and that it be just one thing…social media is the “one” at the moment…that’s just not how marketing works. Marketing is an eco-system that includes social, PR, collateral, branding etc.

2.       Put in a call to action in every piece of marketing you do
This may sound self-serving but it actually helps direct the customer to the key next steps in order to buy your product or otherwise engage with you.

3.       Create content that is valuable to your customers
This includes helpful tips and case histories that will help move the prospective forward to become a customer.

4.       Communicate
Tweet, blog, get your voice out there and heard.  I posted a jobs graph from another source a while back and suddenly it’s been “Pinned” by dozens of people on Pinterest. Who knew?

5.       Do primary research with your customers
Ask them open-ended questions about what’s important to them about your product or service and what will drive them to buy it.

6.       Listen to your customers’ answers
The information may be different from what you expected. Welcome the face that you do not know it all and keep your ego out of it.

7.       Follow-up after the sale
Thank your customers. If they have feedback (which you should solicit) listen to it and if something is wrong, make changes or otherwise implement their feedback.
Follow-up again.

8.       Identify your influencers
Build a relationship with them either on-line or in person.

9.       Brand yourself, your product, your company
Remember, you are your brand.  Use experiences and stories to help with brand identification. Your customers will also help you create your brand.

10.     Write better subject lines
It’s a crowded, competitive world out there…make sure your communications are opened.

 

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

Social Media week – observations and a guest blogger on those observations

By , February 23, 2013 8:37 am

Social Media week was full of fantastic events with different experts in various sectors.  The networking was great because each venue had different people to meet and multiple points-of-view.

There were two global takeaways I had from the events I attended.

·   The first is that there’s still no magic bullet to get customers, even in social media.  SEO, blogs, websites, linked in, pinterest, etc. must all work in as part of a strategically organized system in order to be successful. And that requires a fair degree of participation on your, the entrepreneur’s, part

·   The second takeaway I observed and heard from techies who were self-proclaimed “not” marketing people (that’s how obvious the problem is) is that the paradigm of giving the customer what the company and ad agency wants hasn’t changed at all.  The only change is how it’s delivered –- using new, sexy technology.  This is troubling. For example, at the “Marketing without words” event, there was a discussion of social engagement through images. Tools to follow each visitor from first look to sale, re-tweet or re-pin, etc. is now available. It’s called Curalate.  Great. But what does it measure AFTER a customer’s visual trail?  How does that affect a company’s bottom line? Imagine how much more impactful a  brand would be if they asked their customers what THEY wanted to see before they posted anything.  I predict that audience participation would skyrocket.  And Curalate would confirm that.  There is some progress in that, but where’s the ROI?

Here are some thoughts by Joe Bergmann, who has many years of online marketing experience. His approach is simpler and more effective than anything I’ve heard in a long time.

“Just By Asking”

Why do ad/brand companies try so hard to quantify people? Why do they try to dictate what they want people to think? Why do they think they have the power to brand themselves in people’s minds?

Most ad/technology companies of late adopters (advertisers), try to be hip, thinking they are on top of the latest technology and social networks so that they can exploit early adopters (customers, who don’t want their social media invaded by yellow creamy cheese and canned soup). Advertisers talk about controlling “authentic” relationships directly with customers, as if that was possible. Actually, it’s self-delusional. And then they take that delusion in-house (what next — outsourcing that authenticity to India?). Unbelievable.

This is top-down, invasive thinking. Most companies believe that what is important to them is important to their audience. It’s eyeball gathering that gets dirty looks from the consumer, because it is perceived as interrupting customer conversations and trampling on their privacy. What it is, is bad manners. Many companies seem to have forgotten that serving the customer also serves their stockholders. Until companies stop imposing meaningless marketing messaging on people, they will be stuck in a morass of the latest technological gimmick and the old-fashioned broadcast mentality. The Internet is a graveyard of technologies and metrics that have been the next, best thing.

So what’s a company to do? Remember, your brand is what the customer experiences of you — not what you want them to think (no matter how much and where you advertise). To make that work for your company, you should consider asking your customers what’s important to them. All you have to do is ask. So few companies do that, because they fear the of loss of control. But loss of control is not a bad thing. Being too much in control will make you less effective in the sales process. It turns your marketing message into a monologue. And most monologues don’t produce sales. After all, that’s what marketing boils down to — sales. Giving in to your customers and listening to what matters to them is liberating. It helps you think clearly about how you should approach your audience — without trying to interpret what they mean. In our experience, your customers are more than willing to help. They are the most important asset your company has.

So why do so many marketing companies and ad agencies still operate in broadcast mode? Again, loss of control. So they offer focus groups to pick the “best” of their controlled ideas. So what if the best idea isn’t in the 3-5 boards presented. Just keep developing more controlled ideas. Wouldn’t it be simpler to ask the customer what’s important to them and then build your marketing around their needs? But that takes a willingness to lose control and let people speak freely.

But that takes an approach to market research that requires a sense of humility, listening skills and a commitment to giving people what they want from your company (and a good product  or service that meets a need doesn’t hurt). The problem with most companies is that they rationalize or assume they know what the customer wants without having ever asked. They think their product or service should be interesting without being interested in their customers. Or worse, to be able to manipulate their perception. It doesn’t work.

That’s why I developed the OpenMind session and methodology. There is no better way to discover what your audience wants — and helps you give it to them. It’s the simplest, most time and cost effective way to make your marketing work. One OpenMind session will open your eyes to a whole new way to brand your company and then turn that brand into an experience to your audience. In OpenMind sessions customers are the ones who inform you how they want to be “told and sold.” Then and only then can technology become a tool that enables you speak to their needs.

Just by asking.

To learn more about OpenMind visit: http://www.holtzmancom.com/teamwork_openmind.php

 

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

How come no one wants to speak to the customer BEFORE they do marketing?

By , July 28, 2012 10:06 am

Seth Godin, marketing guru, in a recent blog talks about the three circles of marketing radiating outward:

1. The outer circle: Take the information about the product that is given you and promote the hell out of it.
2. The middle circle, which has more much more leverage: Tell a story that resonates with a particular tribe.
3. The third, innermost, circle is the story about the product itself: The product you are selling has the communication built into itself.
He summarizes his insights saying go one circle in, or to the middle circle, if you are having trouble selling/marketing the product.

This is all well and good advice. HOWEVER, even the great Seth Godin leaves out one crucial element – and a lot of people do this. No one thinks to ask what the customer wants. No one gets feedback from the customer BEFORE they market. This is so simple and very few people talk about it much less do it. And if they (you, we) did it, we wouldn’t have to worry about circles – actually that would be the fourth and innermost circle. I don’t know what the aversion is to speaking to your customers directly before you prepare marketing materials. Every time we do this for ourselves or a client, the marketing is so much more targeted and successful. How do I know this? The ROI measurements are exponentially higher than ever before (before the marketing and after previous marketing exercises).

The entire Seth Godin post is below.

http://sethgodin.typepad.com/seths_blog/2012/07/the-circles-of-marketing.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+typepad%2Fsethsmainblog+%28Seth%27s+Blog%29

 

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

Even – especially – the big guys just don’t ‘get’ it

By , May 12, 2012 8:39 am

I was doing some market esearch yesterday and surfing around Plunkett. I came across customer focused research and how that is changing. It seems that now, instead of marketers showing concepts to individuals sitting around a table in a focus group, they can reach even more indiiduals if they show the concepts online.

Excuse me. How is that customer-focused?
The fact is it’s not. The concepts still come from the agency, or the client. And respondents are still asked to react to someone else’s idea of what might get them to shell out money. The only thing different is the delivery system.

In true customer-focused market research and marketing, the customer (respondent) solves the problem by coming up with the ideas. This allows the customer a total free range of thought and ideation. They tell you how they want to be “told and sold”. They come up with the concept, ad ideas, new product ideas, even strategies for reaching them!

In short they tell you exactly how to help them want to buy your product.
Your ROI soars when you give the customer exactly what they want. I have the statistics to prove it. Statistically significant statistics…like increasing a $500 million dollar company’s new product sales by 10-fold, or helping a start-up company attract a larger company in order to do a successful exit, or help a sole proprietor’s bookings increase by 60% six months after putting up a customer-focused website.

And it can all happen is a period of days.

There. Now isn’t that better?

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

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