A “Failure to Commit” To Business Strategies

Posted by John Park on Dec 13th, 2009
2009
Dec 13

 
 
After working with both large corporations and small businesses, there are a number of distinct differences I have noted when it comes to executing marketing strategies.
 
One glaring example is what I call the “Failure to Commit.”  Smaller companies have a very difficult time coming up with a marketing plan and sticking to it.  And as a result, each plan which sounded brilliant in the conference room when conceived, never gets an opportunity to come to fruition.  When a plan doesn’t deliver almost immediate sales results, it is put to death and a new plan is put in place at the next marketing meeting.  It’s the ultimate in stopping short of the goal in a business environment.
 
Why does this happen in small business?
 
It’s the owner.  Because finances at a smaller company are tied closely to the owner’s personal finances, it makes him or her react emotionally rather than logically.  To put it simply, when they see money going out the door and they don’t see short term sales returns, they get scared.  And when they are scared, they start questioning themselves as well as everything or everyone around them.  When this perfect storm occurs, they also place very little value on mid-to-long term goals and the step-by-step building which is required for marketing value is brought to a screeching halt.
 
Over time, marketing strategies tend to look like a zigzag of failed attempts instead of any tangible or measurable business trends.  The irony in all of this is that small businesses will probably spend more money over time because every new attempt requires an infusion of cash.
 
In a corporate environment, this emotional factor is absent because the decision makers in marketing are focusing on the plan only and have no personal finances attached to their decisions.  And as a result, they are able to objectively see a strategy through and commit to the value it has promised to deliver.  This of course doesn’t mean that each plan is wildly successful.  It just means that they stick to it long enough to get an answer–one way or the other.
 
As you plan your marketing strategies and budgets for 2010, think about your level of commitment.  Do you have a problem with commitment?  You might have a “Failure to Commit” issue.
 
I hear often “I’ve built this company over 20 years and we’re successful as a small business.  We just need your help getting to the “Next Level.”
 
Commitment to your plans and avoiding the zigzag is at the CORE of getting to that NEXT LEVEL.



Until Next Time…



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Choose Your Customers, Choose Your Future

Posted by John Park on Nov 12th, 2009
2009
Nov 12

This is a great post by Seth Godin.  His advice may be one of the hardest approaches to actually act upon but he is right.  After you read his post, you’ll agree.  The problem is… can we ALL do this in this economy?

Marketers rarely think about choosing customers… like a sailor on shore leave, we’re not so picky. Huge mistake.

Your customers define what you make, how you make it, where you sell it, what you charge, who you hire and even how you fund your business. If your customer base changes over time but you fail to make changes in the rest of your organization, stress and failure will follow.

Sell to angry cheapskates and your business will reflect that. On the other hand, when you find great customers, they will eagerly co-create with you. They will engage and invent and spread the word.

It takes vision and guts to turn someone down and focus on a different segment, on people who might be more difficult to sell at first, but will lead you where you want to go over time.


Until Next Time…



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Facebook added 100 million users in 9 months!

Posted by John Park on Aug 25th, 2009
2009
Aug 25

It took Radio 38 years and TV 13 years to reach an audience of 50 million.  Facebook added 100 million users in 9 months!  This is a very important video for all business owners.  Social Media Marketing is here to stay.  As the video states… It is not a fad.




Until Next Time… By the way, don’t forget to follow me on Twitter.



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What goes in the box? Why it matters in e-commerce.

Posted by John Park on May 23rd, 2009
2009
May 23

ecommerce shipping box

 
I’ve been working with a number of e-commerce clients lately and this question seems to come up often.  If you’re selling tangible products online, it’s not enough these days just to ship an order in a timely manner.  An online store owner should view the box as another opportunity to market their products.  Just by including the right items in the fulfillment box, you can exponentially increase the chances for a return visit and a follow-up sale.
 
Here are some proven marketing ideas.
 
 
1)  Return Visit Coupon:  Include a coupon code for their next visit.  You can offer a certain percentage off, a dollar amount or something like free shipping.  Be sure to note an expiration date so that you can get the return visit and sale within a few weeks.  And because you’re running an e-commerce store, you’ll be able to easily track usage of these coupon codes.
 
2)  Product Specific Promotion:  Include a brochure or a flyer promoting a specific product.  The promotion should be presented as an exclusive offer with a corresponding coupon code.  This type of promotion should also have an expiration date to generate a quick return visit.  Again, you should be able to track the usage of the coupons easily.
 
3)  Return & Interact for Reward:  Whether it’s for an online survey or to enter a contest, invite them back to a specific URL destination to interact and participate.  When they do this, you will reward them with some random offer or gift.  This method keeps it fun and it allows the visitor to play a game of chance at your web site.  If this method is used properly, you can also collect some valuable marketing research information from their return visit.
 
4)  VIP Access:  Give them exclusive access to a VIP area of your web site.  This would be a web page that could not be found unless you knew the specific URL.  In this area, you can offer special deals or clearance items.  Make the deals outrageous and they will return time after time to check out what deals have been posted to the area.  Don’t be so concerned about only selling these clearance items.  During most return visits, they will also check out the rest of your web site.  Navigation paths should be strategically located throughout this VIP area to encourage navigation to the rest of your web site.
 
5)  Promotional Item:  This is the easy one.  Add some low cost giveaway item.  The hard part will be to include an item that has some relevance to your core products.  There are three questions to ask when determining what to give away.  First, is your product branded with your logo and web address?  Second, how often will it be shown or displayed before your key target demographic?  And finally, how short will the distance be between this giveaway item and your next sale?  For example, let’s say your giveaway item is a mousepad.  The distance between your giveaway item and the next sale which will occur on their computer screen is pretty short isn’t it?
 
6)  Piggy Back:  This is the “you scratch my back and I’ll scratch yours” marketing.  Identify e-commerce partners who sell products that have synergy with your products.  Once you’ve identified these partners, you will include an offer from them in your fulfillment boxes.  And in return, they will do the same for you in their fulfillment boxes.  This is a real win-win situation and it allows all participating stores to be introduced to new potential customers.  From a customer point-of-view, it will be accepted as a benefit because you are introducing multiple offers to them from companies that have close synergy to your products, which they have just purchased.
 
7)  Free Samples:  Depending on what you sell, you might want to consider including free samples along with every order.  The free sample must be accompanied by a specific promotion coupon code for the customer to go to your site and buy more.  Give them a try and then show them how to buy more at a discount.  Just think about Costco’s free food samples.  You’ll be using the same method except it’s in an e-commerce environment.
 
 
Some of you may hesitate to implement any of the above because of your profit and margin concerns.  When analyzing this concern, keep in mind the following.  Whatever the cost may be, I guarantee it will be much cheaper than acquiring a new customer.  This strategy is about maximizing the return from customers you already have.
 
Learn to think in…RESIDUALS.
 
 
Until Next Time…
 



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How Sticky is Your Business Web Site? — PART 1

Posted by John Park on Apr 1st, 2009
2009
Apr 1

Sticky Web Site Content

 
First my apologies for not posting in a while.  There are hundreds of you now generating over a thousand page views a day.  I am also happy to report that my little blog has also been picked up for syndication on a few notable web sites around the Internet.  I am hoping this means you are finding my posts to be informative and helpful.
 
Like you, I also head a business and things got a little crazy in March.  The good news is that the economy seems to be thawing a bit.  It’s not necessarily getting better but maybe consumers and businesses are slowly realizing that business and life needs to go on.
 
Today, I want to discuss with you the idea of making your business web site “STICKY.”  Yes, I know.  The Internet generates a lot of funny marketing phrases.  In this case the word sticky is very appropriate.  If how much business you generate from a web site is important to you, this is a post you must read.
 
Many of you are probably reviewing your web site traffic statistics on a fairly regular basis—I hope.  Reviewing how many people visited your web site is not enough and just willfully accepting a low web site visitor to lead/sale conversion at any poor ratio should be unacceptable.  As an example, if it takes 100 visitors to your web site to get one solid lead, you should be always asking the following.  “How can I get more leads and sales for the same amount of traffic?”
 
Unfortunately, this is not the question often asked by business owners.  The question often becomes “How can I get more traffic to my web site?”  More traffic is important as well but it’s the visitor to lead/sale ratio that is more important.  A sound way to better your current ratio is to make your web site more sticky.
 
Sticky is basically the web site marketing tactic of turning an anonymous web site visitor into an identified web site visitor.  Instead of having hundreds or thousands of people come and go without making any contact with you, sticky is a way to turn some of those “ghosts” in to real prospects and sales.
 
 
( Making a Web Site Sticky - The Basics )
 
1.  PROFESSIONAL WEB SITE:  Your web site has to look professional at first glance.  The days of do-it-yourself web sites are gone.  Do you make your own furniture for your lobby area?  Do you make your own copier?  You get what I mean.  On the WWW, perception is reality.  Whether we like it or not, we all size up a business by the look and professionalism of their web site.  A poorly designed web site is one of the fastest ways to get someone to click away from your web site.
 
2.  CLARITY OF CONTENT:  Don’t you hate it when you land on a web site and you have no idea what they do or offer?  Your web site content should clearly communicate the services and products you offer.  Your navigation must be simple and direct so that your visitors find it easy and intuitive to navigate your web site.  If it requires more than 2 clicks to get to the information they need, this situation will start them down the path of frustration and thus a departure from your web site.
 
3)  FLASH ANIMATION INTRODUCTIONS:  Get rid of it.  No one wants to view it a second time.  Deep down inside, you know they always click the skip introduction.  In fact, you probably do this on your own web site if you have a flash introduction.  Name for me one Fortune 1000 company that uses a flash introduction in lieu of an actual homepage.
 
 
( Making a Web Site Sticky - Intermediate )
 
1.  RESOURCES IN EXCHANGE FOR INFO:  Allow visitors to download or takeaway resources from your web site in exchange for some basic contact information.  For example, an online Halloween costume store might offer a free Trick or Treating Safety Check List for download from their web site.  The user just needs to input 2 or 3 bits of information in order to download the document.  The document or whatever they download should also be branded with your company information.  The difficult part is to make sure that whatever you are offering is truly useful for your web site visitors.  For example, you should not do this with your company brochure.  It has to be truly useful from the visitor’s perspective.
 
2.  SUBSCRIPTIONS:  Allow your visitors to subscribe to an email newsletter, your blog or other forms of on-going communication like RSS feeds.  Again, it’s important to clearly communicate a value proposition.  I often come across web sites that ask me to sign-up for their email newsletters without letting me know why I should.  If I sign-up, what can I expect?  For example, an insurance company that deals with workers compensation issues might offer the incentive of keeping all of their subscribers updated on the latest workers compensation regulations.  There is always something your prospects are interested in having or knowing.  Many of you are reading this post because you have signed up for my RSS feeds or posts via email.  As result, you are sticking with my web site.
 
3.  MEMBERS AREA:  This is one of those tactics which require a serious commitment.  If you’re up to it, you can include a members area on your web site.  Access will only be given to registered members. I say this takes commitment because you have to update your members area with new and fresh content on a fairly regular basis.  Otherwise, you will just lose all your members over time.  Typically, you can collect more information when you are requiring registrations for a members area.  The most effective approach I’ve seen to date is when a web site offers something of value in a members area for free.
 
4.  INTERACTIVE TOOLS:  Work with your web developer or license interactive tools for your web site.  For a little bit of information, you can give your web site visitors full access to these online tools.  An example might be a Financial Planning Service offering a series of financial planning calculators on their web site.  Have you ever filled out one of those “how much money do I need to retire” calculators online?  These interactive tools are also a great reason for visitors to return and for other web sites to link to your web site.
 
5.  SOCIAL MEDIA:  With the prevalence of free social media platforms, you can also utilize these membership driven tools to make your web site more sticky.  Including a blog to give your visitors a reason to return or subscribe, adding a Face Book, My Space, or Linkin so that you can connect with your prospects in a more informal setting, developing a YouTube channel for your business and developing a complete social network platform utilizing Ning are just a few tools available to you.  I know… I will post separately in the near future about utilizing social media to market your business.
 
 
If you are a regular reader of my posts, you know that my goal is not to overwhelm you with more items to add on your “To Do List.”  Utilizing and implementing any of the above specific marketing tactics will make your web site more sticky.  The goal, at the end of the day, is to make your web site more sticky in order to garner more leads and sales without always focusing on more traffic.  In Part 2, I will focus on taking “STICKY” to the next level—a bit of Marketing Crazy Glue.
 
Until Next Time…
 
 
 

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