January 2010
21 posts
12 tags
Given a choice, people make one, Book Discussion,...
A few years ago Chris Anderson wrote a book called The Long Tail. It’s an excellent read and very much recommended. Godin’s fifth trend in Meatball Sundae is exactly this, “the long tail.” Basically what this means is that as a company introduces more product lines, sales usually increase as a result. This means that companies are creating more and more products to cater to...
9 tags
In an attention deficit world, you need to be...
Every time I go see a movie in the theater there always seems to be some person right in front of me texting away like (s)he was at home. It’s not just the kids, you see it with adults and their Blackberry’s too. Why do people do this? It’s the same reason why they talk on the phone while driving, or have those DVD players in the car, or listen to the radio while doing something...
13 tags
Differentiate yourself by being authentic, Book...
I’ve talked about it before, and will probably talk about it again. Authenticity. The third trend that Godin discusses in Meatball Sundae is “need for an authentic story as the number of sources increases.” How many times have you looked for information on a corporate website? I’ve visited my share, and they’re all filled with the same old corporate talk. Even when...
6 tags
23 essential elements of sharable blog posts →
If you blog, podcast, create videos, whatever, check this out. Some very good tips in here. Thanks Chris.
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Stop what you're doing, shut up, and listen, Book...
I’m sure it’s happened to you too. I’m sitting there talking to someone, passionately discussing something that’s important to me, and then I notice something disturbing; the person I’m talking to couldn’t care less, and judging by the look they give me, they haven’t heard a word I’ve just said. It’s a devastating feeling to know that no one is...
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The relationship between companies and consumers...
For years, companies have searched for ways to “eliminate the middleman.” Well, we’ve gotten to the point where this is a reality for many types of businesses. Unfortunately, many companies mistakingly see this as a problem, not a solution. The first trend that Seth Godin discusses in Meatball Sundae: Is Your Marketing out of Sync? is “direct communication and commerce...
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Ask not what marketing can do for your company,...
It’s time for another book discussion. This time, I’m reading Meatball Sundae: Is Your Marketing out of Sync? by Seth Godin. The general idea is that not all organizations are optimized to take advantage of the new marketing opportunities out there today. Instead many companies are still focused on old marketing techniques. Godin discusses 14 trends that have re-shaped marketing,...
5 tags
Low tech solutions will help you differentiate...
When is the last time you received a hand written letter in the mail? Most of the business communications we receive are delivered through email or typed letters. Why not? It’s certainly faster to mail merge, or email blast people. You can communicate quickly, and in the case of email, for free. However, because it is so rare now, you can really stand out from the pack if you send hand...
3 tags
“The ultimate measure of a man is not where he stands in moments of comfort and...”
– Martin Luther King Jr.
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Pricing in tough economic times →
In this link, Robert Middleton (founder of Action Plan Marketing) discusses an interesting tactic in pricing. I’ve actually heard this one before from a sales person I used to work with. Just like all sales people, he constantly had to face clients unwilling or unable to pay the price for the product or service he was selling. I asked him what he did in those situations and he told me...
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“All your dreams can come true if you have the courage to pursue them.”
– Walt Disney
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Punishing the market can lead to your punishment →
Check out this article then come back here so we can discuss…
Ready?
So what does this mean for you evil marketers out there? Not only should you think about contingencies (come on, they released electronic versions of their books, and didn’t have the foresight to see that they could be pirated?!), you should also look at it from the side of the competition. Big companies anger their...
8 tags
It all begins with attitude
So I was playing Fight Night Round 4 the other night and was getting beat down pretty bad against Muhammad Ali. I was down on points and the commentators were continuously talking smack about my boxer. I’m a sensitive guy, so naturally I started feeling bad and getting down on myself. I only succeeded in boxing worse, getting beat up all around the ring. But as anyone that knows me...
11 tags
Pricing mistake #5: You discount your price too...
Everybody enjoys a good sale. A reduced price can be an excellent way to penetrate a market, excite unmoved customers, or re-brand. There are tons of reasons to discount products, but you should be aware that reducing your price too much or too often can really hurt your brand in the long run. It’s common sense if you think about it, but if your company has made mistake #4, you probably...
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Pricing mistake #4: You don't spend enough time...
If you’re in business, then you want to make a profit. Let’s break this down, there are basically three variables that control profit… costs, sales, and price. Profit, by definition, is revenue (sales x price) - costs. While most companies spend a ton of time and effort cutting costs, and improving advertising / marketing / sales activities, most do not spend this same time and...
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Lesson from two lemonade stands →
Like I said before, good marketing is about relationship building. Tell a story, don’t just sell a product. Check out this bit of knowledge from the heavyweight champ of marketing, Seth Godin.
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Pricing mistake #3: You price so that you can get...
Different products have different customer segments, each of whom will have different perceptions of value (based on different criteria). So with all of these variables, why is that some companies try to make the same profit margin on different product lines? This is a rookie mistake, and shows that you don’t really understand your customers very much. Remember, the first rule of marketing...
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Pricing mistake #2: You set your price without...
I think it was Isaac Newton that said that “every action has an equal and opposite re-action.” This is true in business as well. Many companies set or change prices without understanding that competitors will react accordingly. If you want to turn your product into a commodity and get into a price war, then by all means go for it. Otherwise, you will need to look before you leap as...
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Pricing mistake #1: You base your price on cost...
Let’s face it, pricing is a very important ingredient in your overall marketing mix (it is one of the 4 p’s after all), one that is often times an afterthought. Good pricing strategy can mean the difference between profit and loss, but all too often, companies have no idea how to price their own products. There are a number of philosophies and strategies, but rather than go into all...
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“Marketing is a game, and money is how we keep score.”
– Steven B. Fellows
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Say it, don't spray it
I’ve been talking alot about social media and online marketing. Why not? Everyone’s doing it now. Unfortunately many are doing a poor job at it. It’s not enough to just have a facebook fan page, twitter account, a youtube account, etc. You must create community, otherwise it’s a waste of time. So what if you post videos of satisfied customers, or announce a new promotion....