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Question: What do Uber, AirBnB and Officeworks MailMan have in common? Answer: They are disruptive digital businesses

By | customer centric marketing | No Comments

A book by author Ray Wong has just been release called Disrupting Digital Business  and it immediately gained my attention. The premise of the book is that we have moved from selling products and services (largely because of the digital landscape we all communicate in) and so now we need to focus on experience and outcomes to really be able to compete in the market.

Those that can adapt quickly have capture the market so much so that those who were at the top of the Fortune 500 have had to move out-of-the-way for the new type of business model that is innovative, customer centric and continually evolving.

  • Examples include Uber – your private driver
  • Airbnb - stay like when you are at home
  • Officeworks Mailman – print it and post it

As Ray explains there are some traits that set these type of businesses apart from the rest and these include:

1. Transformation focused: where innovative thinking, small bets and failing quickly is encouraged.

2.Relevant: Understanding what is important to your customers and giving them just that.

3.Authentic: transparency and trust and supporting your brand promise: do what you say

4.Intention Driven: We need to be able to predict what would be expected and then go a step further

5.Networked: This is all about creating natural collaborations and affinities to better the customer experience

Disrupting Digital Business Book Overview from Constellation Research on Vimeo.

Lifelong learning is a competitive advantage

By | Marketing Tools | No Comments

For some of us learning is such an enjoyable part of our work. For others the status quo is all they can manage. When we think of our children the world they are going to work in is so very different from the workforce we now work in. Change is nano speed and so learning new things, exploring new ideas is now faster than every before. It is an exciting landscape but how do we stay on-top of marketing and managing our small business?

This week I came across a podcast by my favourite MarketingProfs where Kerry O’She Gorgone interviews Mark Organ in a podcast titled Never Stop Learning. Mark is a fascinating guy. I had a few hah moments I wanted to share.

1. Jack Welch’s 4 Es and a P – which is a nice framework to identify leadership potential.

2. OKR - a performance measurement idea based on Objectives and Key Results.

3. Weekdone - software to manage OKRs
Video on weekdone

Join our Marketing Knowledge Portal for $1 per week and let us curate your marketing needs. All the tools and tips, templates and best practices. We do it because we love it, and you will love it because it saves you time and gives you access to some great learning to grow your small business. Learn more

The budget wins for small business

By | Business marketing, Business planning, Marketing Tools | No Comments

The Federal Budget for 2015 has a lot for small business to get excited about.

  • As expected, the tax burden for small business owners – those with annual turnover under $2 million – will be lowered to the tune of 1.5 per cent, costing the Government $1.45 billion. For example, a company with an annual turnover of $1.3 million and a taxable income of $200,000 will be $3000 better off. According to the government, 96 per cent of Australian businesses will be eligible for tax relief.
  • For smaller, unincorporated businesses – sole traders, partnerships, trusts, etc – there will be a 5 per cent tax discount. For the roughly 1.7 million tradies, sole operators, partnerships and other unincorporated small businesses who don’t pay the 30 per cent company tax rate, the government is offering a 5 per cent tax discount of up to $1000.
  • To help small businesses invest in new tools or machinery the Government will provide an immediate tax deduction of all assets under $20,000. This can apply to as many items as you like ovens, coffee machines, lawnmowers while any assets over $20,000 can be pooled together and depreciated at the same rate. Small businesses can buy as many items under that amount as they like and receive that deduction on each one, starting from budget night.
  • To encourage businesses to employ young people, employers can access up to $6500 in wage subsidies over 12 months.
  • For start-ups, business registration will be streamlined, with one website acting as a one-stop-shop for setting up a business. Start-ups will also be able to immediately deduct expenses such as legal fees they incur when setting up a new company.
  • Fringe benefit tax on electronic devices
  • The Government is set to profit from overseas businesses supplying digital products and services to Australians, which will be subject to GST from July 1, 2017. This means that local businesses products will be more attractive.
    Cheat sheet from ABC to answer more questions here.

Customer Segmentation: Do you need to do it?

By | customer centric marketing | No Comments

Gone are the days when it was okay to lump all your contacts into a database and be done with it. As a business, you really need to be smarter. Customer segmentation is about grouping your customers according to a criteria that makes their experience with you better. It might start with looking at your contact form on your website? Is it a smart form? Does it collect information that you can use to segment your contacts.

Does it ask for:
Product/ Service: what each customer getsCustomer Segmentation based on Lifecycle
Size of customer
Lifecycle: prospect, new customer, longer term customer
Region: location
Industry Type:

This presentation by Joel Knight asks the sort of questions that as a small business you should be considering. (25 mins well spent)

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