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Member You - Why Most Marketing Fails
I had a discussion with Erik Lie about the experiences with Stock Options Backdating (SOBD) and the economic impact of his work. According to Erik, at least 15% of the stock options grants between 1996 to August, 2002,were backdated. Some were within 30 days of the grant date, others more egregious. The number of companies though he said that were going to come clean would be far less than 15%. Here is what we came up with.Fir
If you can answer most of these questions in advance, you’re heads and tails above your competition. If you can’t, you’re in b
Find the right figure to make the highest profits. 1. Don’t shy away from charging a fair price for your offerings—you deserve to be rewarded for your time, talent, risk and investment. 2. Keep your price within the range of what customers are willing to pay. 3. Remember that prices for the same products and services vary dramatically by geographic location. Remember the end user manuals for buyers and seller
The majority of businesses fall into two categories: those that rely on word-of-mouth or those that do a minimal amount of local promotions such as direct mail, flyers, small Yellow Page ads. In any regard, they give advertising very little though. For example, when the Yellow Page representative comes around to talk about their program, they have done little or nothing to prepare for the call. At the very least, they should have considered some of the following issues:
- Who are your customers? i.e., men, women, young, old
- Where are your customers? i.e., from around the block, citywide, statewide
- Which ones are most profitable? i.e., what service or product returns the greatest profit?
- What is one customer worth? i.e., what is the value of an average sale?
- How do you intend to reach your customers? i.e., marketing, promotions.
- What makes your business unique or better than your competition?
If you can answer most of these questions in advance, you’re heads and tails above your competition. If you can’t, you’re in bi
One of the certain aspects of working life is that unexpectedly you can be assigned a project to do. In fact if you are building a business of your own you will have long-term projects that are essential to its profitable development.But in order to ensure the smooth and successful running of your business it's vital to have efficient systems in place to deal with these projects. Most of them will have deadlines for completion
The majority of businesses fall into two categories: those that rely on word-of-mouth or those that do a minimal amount of local promotions such as direct mail, flyers, small Yellow Page ads. In any regard, they give advertising very little though. For example, when the Yellow Page representative comes around to talk about their program, they have done little or nothing to prepare for the call. At the very least, they should have considered some of the following issues:
- Who are your customers? i.e., men, women, young, old
- Where are your customers? i.e., from around the block, citywide, statewide
- Which ones are most profitable? i.e., what service or product returns the greatest profit?
- What is one customer worth? i.e., what is the value of an average sale?
- How do you intend to reach your customers? i.e., marketing, promotions.
- What makes your business unique or better than your competition?
If you can answer most of these questions in advance, you’re heads and tails above your competition. If you can’t, you’re in b
Procurement plays an important role in determining the success of a business. A number of companies provide many choices in order to solve problems related to procurement prices, negotiation strategies, financial advice, and other related services. These solutions can help a company to concentrate on other core issues, such as manufacturing optimization and marketing.Entrepreneurs who are starting small business ventures may b
- Who are your customers? i.e., men, women, young, old
- Where are your customers? i.e., from around the block, citywide, statewide
- Which ones are most profitable? i.e., what service or product returns the greatest profit?
- What is one customer worth? i.e., what is the value of an average sale?
- How do you intend to reach your customers? i.e., marketing, promotions.
- What makes your business unique or better than your competition?
If you can answer most of these questions in advance, you’re heads and tails above your competition. If you can’t, you’re in b
We’ve all been subjected to awful speakers—some are boring, others are sanctimonious, a few are tedious. The one thing all of these rotten speakers have in common is this: listening to them is pure torture and all you can think about is how you will never get the last thirty minutes of your life back.Most of us tune out quickly once we are subjected to a lousy speaker. We pretend to take notes on our Palms only to check our em
- Who are your customers? i.e., men, women, young, old
- Where are your customers? i.e., from around the block, citywide, statewide
- Which ones are most profitable? i.e., what service or product returns the greatest profit?
- What is one customer worth? i.e., what is the value of an average sale?
- How do you intend to reach your customers? i.e., marketing, promotions.
- What makes your business unique or better than your competition?
If you can answer most of these questions in advance, you’re heads and tails above your competition. If you can’t, you’re in b
Think many of our jobs can't be replaced by technology? Think again. Automated payment systems, drive-thru menuboard enhancements, and POS systems with the ability to customize and up-sell have already replaced (and in most cases enhanced) some cashier functions and provide a better guest experience. If your cashiers and drive-thru personnel simply go through a series of steps to take orders, they soon might be obsolete.Howeve
If you can answer most of these questions in advance, you’re heads and tails above your competition. If you can’t, you’re in big trouble. Realize that the marketing that actually attracts your potential customers is built upon the foundation of understanding what type of customer you are seeking. Once you have formulated a profile of the perfect customer, you can plan a strategy for marketing to them.
The shoot-from-the-hip approach of making it up as you go along will waste time and money. In other words, poor planning will lead to poor results. If you devote as much time in developing an advertising campaign as you might have done picking colors for your office, you would be far better off. You should also be able to figure out your ROI, or return on investment based on that average sale and track the results. The latter is important for future marketing approaches to enable zeroing in on the most effective format or media.
Remember that most media can be worthwhile if the message is designed properly. I should know. I was a YP rep and consultant for nearly 25 years and, prior to that, had my own advertising agency. I also have a degree in marketing. I’ve been designing Yellow Page ads for the past three decades. So I have expertise in YP creation and have advised almost 7000 companies on how to put together the most effective YP ads. If you have a display or in-column ad, regardless of size, color or positi
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