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Spray and pray is no way to market your business

By | Thoughtleadership and Content Marketing | No Comments

There is no excuse for a “spray and pray” approach to marketing any more. We are becoming increasingly frustrated with a one fits all approach especially when our digital footprint provides insight on our preferences. Companies that fail to use insight and analytics to tailor information and offers accordingly will be left behind.

Amazon have been catering to our needs, purchase history and preferences for ages. Using NBO’s (next best offers) in suggesting what would be of interest to us in up/cross selling offers and in the process are creating more compelling, precise and effective marketing. Yes it is still a learning process but their experimentation means they are leaders in creating offers that are personalised and relevant to our experience online. Part of this is due to the research they conduct and tools to create personas.

Because so many companies treat customers in a generic way, those who take the time to segment their market, look at how they want to be communicated to and make relevant and timely offers have the upper hand. Not only do they have a competitive advantage but they are more profitable.(www.hbr.org). Businesses in general lack the personal touch of the past, building long term customer relationships by knowing customers well. Today we need to achieve the same level of customer intimacy but leverage technology and data to do this.

According to Gartner, the business intelligence market (including data warehouses and CRM analytics) is growing nine percent per year. While it was worth $57 billion at the end of 2010, it will surge to $81 billion by 2014 and as high as $136 billion by 2020.segment by medium

“Another area that is changing the business intelligence market is demographics. Millennials (ages 20 to 30) now comprise 20 percent of the workforce, but their ranks will swell to 40 percent by 2020.The graduating high school class of 2011 spent all of their school years with pervasive access to the Internet – they don’t know a world without information at their fingertips,” said Sallam. “You tell them to go to the library to use the card catalog, and they look at you if you told them to go use an abacus to calculate the square root of 1,058.”Enterprise Today

Collecting data on our customers does give us insight to make better marketing decisions but we need to keep a balance between what is considered helpful and useful and what is an invasion of privacy. A controversial  example of the insights that can be achieved through predictive analytics is from US retailer Target. The company successfully predicted one of its customers was pregnant before her father knew when using predictive analytics to apply a pregnancy prediction score to new parents-to-be. Video on this example.

So there is a line about how much information to collect or predict however as a small business it is worthwhile starting to collect information on a database. It is also worthwhile subscribing to articles and listening to industry experts on your customer segment. Dig deeper and see what you can find out about them.

Predictive software

For smaller businesses go here

Just because you embrace new technology doesn’t mean you aren’t creating meaningful, shareable experiences

By | Customer experience, Service Marketing, Small Business Marketing | No Comments

The more network your business joins the more you might be diluting your brand. It is more customer centricity, empowerment and innovation. It is imperative that you understand how technology is affecting the decision and behaviour of your customers and prospects and that you can adapt to to this new communication and engagement.”Technology is becoming an extension of humanity.”

“40% of top Fortune 500 in 2000 were no longer there in 2010.” Forbes 2011 Why? They don’t fit anymore.

Customer behaviour is changing and it is impacting the decisions that we make.  If you are not proactively designing the experience your customers have you can not influence it. You need to start with design the customer experience you want your customer to have and embrace. It is the customer’s ecosystem that matters not ours.

How do they communicate, connect, share, learn, discover, make decisions, take action.

We help you walk in there shoes, learn how they connect and communicate, how they discover and more importantly what they value. Strategic Service Design. Now is the time to recognise that your customers landscape is shifting and discover how to align to their world.

 
Mapping the customer journey
 

Customer Experience study in Australia reveals we are an empathetic bunch!

By | customer centric marketing, Customer experience, Customer Insight, Small Business Marketing | No Comments

Nunwood is a consultancy that is known to do Customer Experience Excellence (CEE) research. They have just finished a survey of 5000 Australian consumers to uncover what specific needs count when creating value for money and a great customer experience in a study this year.

Top Ten Brands

  • Singapore Air,Top Brands
  • Air New Zealand
  • RACQ (Royal Automobile Club Queensland)
  • ING Direct
  • ALDI
  • Specsavers
  • Emirates
  • Ubank
  • Chemist Warehouse
  • Dan Murphy’s

The airlines have fared well with and is sited to be because they are delivering the total package, attentive staff, the latest in-flight entertainment, comfort and price. Other distinctive differences with winners it the tone of voice or personality of the brands which we can identify with.

Other insights

Aussies are empathic towards Australian brands. “Our research really found that Australians really just want an objective source of information. The challenges for Australian companies is still really getting that peer to peer objectivity is becoming increasingly important and turning a terrible experience into a good one. If you sting an Aussie customer they won’t forget easily.” Said MD of Nunwood Anna Thomas

“Building great customer experience is about understanding the nuances of the consumer need – which may change at various points along the customer journey – and bringing them to life within the parameters of the brand and the particular business culture. It’s part art, part science, and it’s really exciting work.”

Top Trends
1. Australian’s want to buy Australian. Source locally – Supporting Aussie businesses is still very important

2. Give us the information. We go online so educate us before we find the information from someone else and buy online. And Reviews from our peers are important.

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3. There are a lot of bargain hunters online. This is a big part of the online shoppers.

4. Low price and low quality Aussies aren’t interested in.

5. We shop globally because we can. Keep us shopping locally with great service, value, information and we will see the difference and stay loyal. If not we will go where the offer, value and experience is better.

Read more here..   More from Nunwood about the six pillers of customer experience

 

Want to map your customer’s experience? Learn more..

“70 percent of the buying process is now complete by the time a prospect is ready to engage with sales.”

By | CRM and lead generation, Marketing Automated Technology, Online Marketing, Small Business Marketing | No Comments

In Phil Fernandez’s book Revenue Disruption and CEO of Marketo, Phil espouses with abundant product information available online—such as customer reviews, peer evaluations, independent analysis, social network referrals, user generated content and more—the vast majority of buyers begin their buy cycle in a search engine or online, effectively circumventing sales people, completing the majority of their buying process and and short list have been completed.

Get Found!

What does this mean for us? Well the role of marketing has increased prior to hand over of a lead to a sales team. It means that businesses need to rethink their traditional approach to sales and marketing. This has a spin on effect to how investments are made.

According to SiriusDecisions, Inc., “70 percent of the buying process is now complete by the time a prospect is ready to engage with sales.” Therefore, marketing now owns the majority of the buying cycle and must implement lead acquisition techniques—such as content marketing and inbound marketing—to engage buyers early and in the formative stages of the buying cycle.

Phil explains his approach called the Revenue Performance Management (RPM) in an interview with CRMSearch that  most sales teams spend 20 to 60 percent of their time inefficiently calling prospects who no longer need or want to be contacted by sales people.If marketing can become more efficient in using lead acquisition techniques (such as compelling content, search engine optimization, search marketing, etc.) to be found by early stage buyers, nurture not-yet-ready to buy prospects, and transfer those sales-ready buyers to the sales team at the precise point when they become ready to engage in active buyer discussions, the sales team will avoid inefficient prospecting and allocate their time to selling activities such as demonstrating value, advancing opportunities, and negotiating and closing sales deals.

Marketo has shifted its spend based on the Phils RPM approach, spending as much on marketing as sales. This actually makes sales more efficient by limiting their sales activities to truly qualified buyers.

How much do you spend on marketing V sales? Is it time to review your approach?

How to work with Us

By | Marketing Strategy, Packaging, Small Business Marketing | No Comments

We know that every small business is different and you will be looking for the right marketing resource. That is why we have come up with a number of ways to engage with us.

Marketing Strategy workshop – for a small investment of $250 you can have a meeting and see if we are a good fit and get some immediate marketing strategy to apply to your workshop. This is a good place to start if you haven’t yet worked out your marketing approach.

Small Business Package – allows us to work together with you over a series of workshops to uncover your strategy and put together a one page plan.

Fast Track workshop is a one day planning session for a small business to create a marketing plan.
Web Design Package – is perfect if you are in the process of redesigning your web and want to make sure it will attract your ideal customers with call to actions.

Branding Package – is great if you are rebranding your business and want to think through the “why” of your identity. This builds the style guide and the key marketing messages.

Digital Marketing covers all social media creation and planning so it is wrapped up in your core marketing strategy.

The Customer Centric Workhop focuses on mapping out your customer’s buying path so you can become more customer centric and test your internal values and value proposition.

Retainer Options are very useful and economical for a small business with no marketing resource but know they need an ongoing affordable marketing person. We only do a number of these per year so we can service our existing clients well.

Online Coaching Package is for those remote businesses that want an online resource to communicate with about their marketing.

Creating a purpose driven organisation, why does your company exist?

By | Branding, customer centric marketing, Employee Experience, Small Business Marketing | No Comments

“Simply put the purpose driven concept is based on the principal that when given a purpose the employee desires to strive to do more for the company because they feel that they are a valued part of the company.  They are able to feel that they make a difference, and are more likely to look within themselves to make needed changes in order to serve their purpose within the company.”thereblogging states. Why does your company exist? If it is just to make money then you might be missing the point.

Here are some great purpose built companies:

DPR Construction We exist to build great things. We must be different from and more progressive than all other construction companies. We stand for something.”DPR

Wholefoods – Americas healthiest grocery store – We seek out the finest natural and organic foods available, maintain the strictest quality standards in the industry, and have an unshakeable commitment to sustainable agriculture.

Grill’d – We are bringing healthy back to burgers. We think a burger should contribute positively to your health and wellbeing by not only being good for you, but being made with wholesome natural ingredients sourced locally and prepared freshly for you once you place your order (and not before).

Tom’s Shoes – we’re in the business of changing lives. With every pair of shoes sold, Tom will give a new pair of shoes to a child in need. With their new sunglasses range they will donate from every sale sight to someone in need. One to One program.

How do your employees become advocates of your company?

How to they make others jealous about being able to work with you? What do Zappo’s, Google and Spotify – (Soundtrack your life with Spotify) all have in common. They have all connected their companies to a wider purpose outside of making a profit. With increased global awareness, and instant communication via the Internet, mobile phones, and text messaging, many employees are able to see or hear first hand how their company compares to other companies.  They can see within another company what the working environment is like, what benefits they are offering, and how management treats their employees. There are countless websites that bash companies and share details of bad business practices. This transparency has created a business need for companies to attract employees and customers with their business practices.

First why it is important?

Purpose Driven companies have a big advantage. According to Dan Pink one of the key resources is they have more engaged employees and thus more productive. ” I would argue that purpose-driven companies have a huge competitive advantage right now. Employees and customers are hungry for purpose. Yes, employees want jobs. Yes, customers want deals. But even in a recession, we want more than

that. We want to feel that our lives have a deeper meaning that goes beyond paychecks and discount shopping.” Rich Karlgaard explains in his article purpose Driven Leadership. We are seek meaning

Spotify especially when the basic needs are met. We are looking for our self actualisation needs to be met. We want to align themselves to those brands that represent something we believe in, or could believe in. People can’t buy into the idea of just making a profit, especially if it is not ethical or is creating in such a way that goes against their values.

Take for example, Spotify. CEO Daniel is passionate about making music available in a legal way that protects the artists. It is an easy concept to take on-board. Let’s face it, none of us want to rip off the music artists but we needed a way to hear the music before we bought it. Now we can do this on our mobile device. If we want it free of charge we have a few ads and if we are a hard core music fan we can choose a premium account. We can connect with our friends and see what they are into with the power of social media on Spotify.

Innovation becomes a big part of a purpose driven company. Everyone is so passionate about the company and what they stand for that people are keen and given the opportunity to contribute to the overarching purpose.

How to do it?

“This is the new era of a “PURPOSE DRIVEN” business world. Successful companies of the future will be finding new solutions that relate to our human concerns and considerations. Exceptional leadership will include words like, gratitude, loving leadership, acceptance, and intuitive vision and wisdom.  “Our work experience can be totally inspiring or it can be a “have to” experience in life. Tina Olivero explains.

1. Empower your employees. Make sure that they know their ideas, skills and thoughts are valued.

2. Create a purpose that is serving a greater good.

3. Build a company that you and your employees can be proud of.

4. Have a set of values that are inclusive and allow for collaboration

5. Have a clear vision and goals and do this process together

6. Build a strong relationship with the community and understand and consider the social implications of your decisions

7. Sponsor good ideas. Create a space for innovation, playing and inventing. Create an environment where it is safe to try new ideas.

I for one support those who support my ideology and values and that serve a wider purpose. Do you?

Resources:

Podcast on purpose driven company – Internet Business Mastery

Customer Centric Workshops

Bernadette Jiwa talks of the importance of your story.

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