Monday, December 16, 2013

Seasons Greetings to One And All

This week I'd like to take a step back from  Business, Social Media and all things Sales and Marketing and focus instead on something more important.

Namely family and friends and how at this time of year it's certainly a time to reflect on how fortunate we are to be surrounded with so many good people who all help enrich our lives and really help to make life worth living.



On a personal note I'd like to thank all the readers for their support, feedback and input as it makes doing the Road Scholars blog so enjoyable.  As well I'd also like to wish you and those special to you a very safe and Merry Christmas and Happy New Year.

And until next time, good luck and as always, good marketing.

Regards,
Daniele.

Tuesday, December 10, 2013

Strategic Alliances - The Greatest Under Utilised Business Stategy

Put simply a well thought out Strategic Alliance (SA) is the most underutilised business strategy and this is especially true for SME's that somehow have this unspoken belief that every business needs to go it alone to be successful. Of course nothing can be further from the truth and all we need to do is to look at how the larger companies do it to see what amazing benefits a strong SA provides for all parties involved.

Just the other day I was involved in a discussion on this very issue and discussed with a colleague the wonderful example of the global strategic alliance that has been formed between: McDonald's, Village Cinemas and Pixar Movies Animation Studios.

What wonderful simplicity when you think of who the target audience is for all three of these businesses that you realise that they are for a large part, the same group.



I really don't suppose for a minute that we should be surprised that when business heavy weights like these organisations mentioned the result will be good, given their resources and marketing talent.
But the simple truth is that and businesses or organisations can do it with a little thought.

The first question that needs to be asked is what other quality organisations out there, already  target my target market and may already have well established good will, market expertise and professional networks already set up.

The second question  you need to ask is which of these organisations from question 1, can I approach that are complimentary but not competitive with what my business or organisation does?

Finally what am I willing to offer and what would I like those other businesses to offer the same market in any co-marketing campaigns between us. Here you literally have a blank canvas and are only limited by your own imagination and creativity.

In the case of the example above the specifics are well known with movie merchandising available at the restaurants and access to McDonald's vouchers when you buy movie tickets, and so on.

 In marketing I believe that this tool works so well because the businesses leverage and support each others efforts.  It is a classic win-win scenario and one that should be very appealing to SME's everywhere.

So go to it and start thinking about who you could approach to form such an alliance with.

And until next time, good luck and good marketing.

Regards,
Daniele.


Wednesday, December 4, 2013

Wow Factor the Key To Customer Satisfaction


I have often tried to impress on my students and clients the fundamental need to be able to inject some Wow factor into your Total Product Offering (TPO) as it's the Wow factor that energises people to talk about things that they have experienced and act.

 A lot is understandably made of the various research data classics such as the TARP data that focuses on the inevitable consequences of customer reactions to their level of dissatisfaction. It is frightening data on two fronts because it shows us both that the vast majority of customers who are dissatisfied will not necessarily complain about it and also that if they remain dissatisfied will usually tell around ten people who in-turn will go out and tell another five each.  OK then the simple message here is don't do the wrong thing by your customers and hopefully you will avoid this.

But as business owners we do not go into business to avoid dissatisfaction. Surely our aim needs to be universally to delight our customers with a consistently high level of customer satisfaction that at very least meets their expectations and hopefully, exceeds them.  To do this of course we need to inject some WOW factor into our product offering to the market.



 The specifics of how you do this will naturally enough depend on what your product is and the market that it operates in. The key point is that in every circumstance there is an existing level of customer expectation that need to be addressed in your promotional campaigns where you verbalise your brand promise which outlines exactly how it will meet the prospects needs.
 Beyond the promotional campaigns and the purchasing comes the actual product usage and experience. This is as Jan Carlson so aptly put it: The moment of truth.

It is here that the additional features and benefits and perhaps value added services kick in to leave the customer surprised and excited about the product, the value that it offers them and the consequences of using it in terms of a better outcome when compared to alternative brands that they may previously have used that did not provide them with any WOW factor.

One of my favourite anecdotes that I like to share on this topic is the story of when I gave a presentation in Portland Victoria which is around a six hour drive from Melbourne. I arrived at around 5 pm to deliver a 4 hour class which went from around 6 to 10pm.

I had driven my own car and noticed when I parked it in the underground car park that it was very dirty from the trip and I thought that the next morning I would have to find a car wash to wash it before making the trip back home or run the risk of being pulled up by the police and fined.
Anyway the night went well and I enjoyed a comfortable night there and the next morning on approaching my car I noticed that it had been washed and a message had been left on my windshield. It read:

“Mr Lima thank you so much for choosing out hotel to stay at whilst in Portland.
We noticed that your car had become dirty from the trip and we took the opportunity to wash it for you at no cost to ensure you have a safe journey once you leave here. We hope you had an enjoyable stay and hope to see you again. Many thanks."
Staff and Management of the Comfort Inn.

Now that's what I call Wow factor.  Do you provide your customers with this type of experience?
If the answer is no, not yet, then start now.  Do something to make people feel good about you and give them a reason for them to spread the gospel of you and your brand.
So until next time, good luck and good marketing.
Regards
Daniele