How a Birthday Gift Can Make You a Million Dollars

July 20, 2009

gift-main_FullThis coming Saturday will mark the day I was born 25 years ago, MY Birthday!

Thinking about my birthday, and birthdays in general, I became interested in what a birthday gift can mean.  And I am not talking about gifts that you or I get for each other.  I am talking about a company or business that gives gifts to their clients and customers.

I wrote a post about a month ago about information.  The more you know about your customers, the better you will be able to serve them.  Knowing their birthdays is a small, but potentially important part of that.

If you know your customers’ birthdays, you have options.  You can send them a discount on your products and services as a thank you for being a loyal customer.  Or you can get them a gift, apart from what your company offers, that really makes an impact.

What if you sent a gift certificate to all your customers for their birthdays this year?  You could do it through email, and make it $20 or less.  How much would that cost you?  I think you will end up pleasing enough people, and generating some real long term customers, that it will more than make up for the cost.

But instead, what you sent something concrete?  What if you sent something that you knew most of the recipients would use?  And what if you branded that product so that when they used it, they were helping to spread the word about your company?

You could send a t-shirt, a hat, a computer accessory, a cell phone case, or anything else that people use on a daily basis.  On it, you could put a slogan that would resonate with people, along with your company name and website.

Chances are that…

1)the customers that receive this gift will be thankful for it because they are not used to a company going out of their way to give back, turning them into more loyal customers, 2)some of those newly loyal customers become brand ambassadors, actively telling their friends and associates how great your company is, and
3)the branding that goes along with the product gets people talking, or at least noticing you more.

It is a generous gesture that fits right into a solid marketing plan.  Do something out of the ordinary for your customers and they will take notice.  And the more they take notice, the more likely they are to talk about your brand.

So maybe one birthday gift can’t make you a million dollars, but giving back to your customers on their birthday could prove to be a pivotal part of developing lifetime customers and start some positive word of mouth marketing.  I know if any companies did that for me this Saturday that I would take notice.


Home Depot vs. Lowe’s: Where is the Difference?

July 6, 2009

battle-homedepot-lowes-200x267drWhen multiple companies operate in the same space, the space has to be big enough to support them all, or one of the companies will eventually differentiate themselves and prove victorious at controlling the market.

 

Sometimes, the market is big enough to support more than one leader.  And when this happens, you most often see two companies that are so similar, it is hard to tell them apart.

 

I saw a commercial for Home Depot this morning, and without seeing the television screen, I assumed it was for Lowe’s.  They both say the same thing, the voiceovers even sound the same (even though Lowe’s tries to use Gene Hackman’s voice to stand out).

 

It got me to thinking, what is the difference between the two companies?  I have shopped at both, purchased from both, and been satisfied with both.  But after thinking about it, I can’t come up with one single point of emphasis or difference that would cause me to choose one over the other.

 

Both have brand awareness, but has either worked towards brand loyalty.  You would think that one of the two companies would try to differentiate themselves in such a way to gain market share over the other.  But, from what I can tell, both are satisfied sharing the market with the other one. 

 

There is a danger in becoming too complacent.  If neither company is actively pursuing an industry that they can dominate, where is the innovation and creativity coming from.  There is no motivation to change and grow.  Eventually a new player can come along and stand out from the rest of the industry.  And when that happens, it may be too late to change and adapt.

 

These two companies may be comfortable coexisting in this way, but if you own or operate a company, you should be very careful how similar you are to your competitors.  Standing out is the best way to build awareness and loyalty at the same time so you can grow and keep your customer base.


Fostering Innovation through Internships

June 18, 2009

baby-businessIt’s that time of the year again when companies are starting to take on summer interns.  College kids all over the country are looking to gain valuable work experience in the industry they plan to work in, with hopes of the added cash bonus to survive the summer.  And companies all over the country are looking to fill minute holes they have at the bottom levels of the business.

It’s the typical cycle. They will get hands on experience, you’ll get someone to fill out paperwork, and come August or September, everything will go back to normal.  Nothing changes.

Now, what if you rethink what an internship is all about?  What if you let yourself believe that summer interns could actually do something important?

Think of it in a couple of different ways.  First, there is the “fresh eyes” perspective. Interns are brand new to the company, and unlike those employees that have been working in the business so long, they have not been trained into routines and habits.  They can see things as they really are, everything that is good, and everything that is bad.  Throughout the summer give them opportunities to voice suggestions, open complaints, and communicate back and forth with employees on every level of the organization.  This gives the interns a real voice within the company, which is very valuable to them.  But it also gives you a chance to see the company from the outside again, and will open up some very real suggestions of how things can be improved.

Second, there is the “do something new” perspective.  You’re company works without interns.  So now that you have the interns here, why not use them to do something that you were not doing before they got here.  Have them test out a new system or product.  Have them handle a series of focus groups, design surveys, contact old customers.  Maybe there is a new market that you are looking into.  Send them out with a top level employee to do research and analytics.  Use their motivation, curiosity and desire to learn to open up new doors for you and the company.  There is always ground level work to be done in any new venture, so why not get it done while you have the extra man power.

View summer internships as an opportunity not only for them, but for the business as a whole.  You can get ideas rolling, new projects off the ground, and create a whole team of brand evangelists by giving them real responsibility and creating an opportunity for them to grow.

It’s time to rethink internships.  They are only around for a couple of months, but they are the future of the workforce that you are grooming.  Treat them that way and the company will be all the better for it.

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What Ever Happened to Trust and Honesty

June 9, 2009

trust me I'm a docter-786643There will always be things in place to keep us honest.

Doctors and Lawyers have malpractice to keep them from making mistakes, not following procedure, and not taking care of those people they are there to take care of.

The government has the people they represent to keep them in check because they will always be up for re-election again.

CEO’s have a board of directors and large groups of investors to make sure they are doing the right things with the company’s money or else a replacement will be found.

It seems we are kept as honest as we can be because if we stray too far off course, we risk losing a title, or some power, or our money.

But what about just being honest?  What if elected officials, doctors, lawyers, bankers, and CEO’s – the people that we need to trust in order to successfully grow ourselves personally and professionally – were just honest people.  Maybe it’s just a matter of greed, and it will never be perfect.  And I know I am lumping large groups of people in where they don’t belong, but it just seems that if we have to fear people in power then we are never going to dig our way out of tough times.

Trust is an important thing.  It can mean the difference between success and failure.  So let’s put honesty back in its place.  You don’t need us to keep you honest.  Just do it.

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Celebrating Milestones with your Public

May 26, 2009

Milestones_sideThis post takes something personal, and expands it to an idea that every business can follow.  I noticed earlier today that a comment on my last blog post by Jake Samuelson, author of the blog My Geeky Side, was the 200th comment that I have received.  Though that is not a stat that I actively track, it is nice to see that the conversation aspect of my blog is picking up as more readers continue to come to the site.  It was a stat that I wanted to share with you because it is exciting to see a growing readership contribute more ideas.

With regards to that, I strongly believe that sharing company milestones with customers and the general public is a great way to build your brand, market yourself, and generate a dialogue with the press and the people.

When a company announces that they just reached 1 million customers, or just sold their 500th widget, etc. it tells people something.  It gets them involved in the company, letting those people that are already customers know that their business is valued.  It lets potential customers know of your success.  “If 10,000 other people are using their service, it must be worth while.”

Sharing information publicly, either on the website, a corporate blog, with a press release, or company newsletter, gives you strong outreach.  It is marketing, without coming off as marketing.  It makes people aware of your brand and aware of your success.  It is the best way to grow based on past success.

Celebrate these milestones, not only with an announcement, but by giving something back as well.  Tell people that when you hit 1,000 units sold, you will have a special free or discounted offer.  “So many people like this that we have decided to give it away for free on this day.”  Promotions like that, based on current and projected success, spread the word.  It adds to the story that your company is telling, and defines what you are all about.

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A Case of the Mondays

May 11, 2009

office-spaceA surefire way to bogged down by routines is to come in every Monday morning after a nice relaxing weekend and do the exact same thing you always do.

Most people use the better part of Monday before noon to clear their inbox of all the emails that have accumulated over the weekend, update yourself on the to-do list you carried over from last week, and catch up on some work that you left over from Friday.  And before you know it, you are moving through your week the same way you do every week.  And even though this is what feels comfortable and efficient, it will never create the need or desire to create or innovate.

So here is a thought.  In order for your business to thrive and grow, you need to be thinking outside the box.  To help spur new thoughts and creative vision, you need to do something different.  Use Mondays as routine busters, because if you take the time to throw yourself off a bit, then your mind will have more freedom to roam and create.

Take your breakfast at a place you’ve never been before.  Stay away from the computer.  Read a magazine article.  Take a pad and a pen and just start making lists.

Keep your mind active, but also free to wander. Take a walk, listen to music, keep your distance from work.  If you have the ability to stay out of the office, this is the time to do it, though you can certainly do these things at the office as well.

I know that eventually you have to get to your emails, you have to finish those boring, endless tasks that you’ve been chipping away at, but there is plenty of time for that as you move through the week.  A little time to think on a Monday morning can be just the medicine you need to help avoid the weekly routines and help you concentrate on the big picture.

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Carpooling Service…from an Oil Company?

May 1, 2009

carpool_sign_500The good people over at Springwise continue to point out some of the most innovative startups competing for your attention, and today, they had one that really caught my eye.

“In March 2009, Galp Energia launched Galpshare, a carpooling platform where commuters can create a profile, specify their daily route and find others heading the same way. Users can also list their musical preferences and interests (politics, sport, business, etc.), helping them find people they’d enjoy sharing a ride with.”

The most interesting thing to note here is that Galp Energia is the largest oil company in Portugal.  It’s strange to think of an Oil company as part of the solution for energy efficiency.

I commend them for stepping up to the plate and designing a service that is forward thinking and helpful.  A quick look at the website and you can tell that it is still relatively new, but there are a number of members.  The free site could obtain some significant advertisers as the network starts to grow.  It is the perfect example of a company innovating outside the boundaries of their current business model to position themselves in a new market and become more sustainable.

Hopefully this is more than just a PR ploy to gain some friendly attention, and they are in this for the long haul.  Maybe other companies in a similar situation will start to take notice and deploy similar business strategies.

As more companies see the value in becoming environmentally conscious, we will see a growth in the “green economy” that will help society as a whole.

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13 Ways to Make Google AdWords Work for Your Business

March 6, 2009

google-adwords-logoGoogle AdWords works.  You don’t have to take my word on that, how do you think Google makes so much $$$?  If it didn’t work, we would know by now.

The problem is, most companies that use it don’t know how to take advantage of it.  Too many companies make stupid mistakes that will cost them valuable money and front page positioning.  In this economy, low cost online advertising with Google can be the best way to drive new business.  I am searching for something that you’re offering, I want to click to your website, help me out.

Below are 13 things you need to be paying attention to in order to maximize your AdWords returns.

  1. Unique Landing Page. Please stop sending me to your homepage.  If you are advertising a specific product and I click on your ad, I want to see that product.  It’s what drew me in, it’s what I need, give it to me.  And please, make it look good; images, colors, easy to read text, etc.
  2. Price in the ad. One thing you will notice when searching for products, some ads display a price, and others don’t.  Why wouldn’t you display a price?  It makes the whole ad stand out, and lets the user know what they are getting.  You aren’t hiding anything by not including a price, because when I get to the product and I don’t like your price, you just wasted money on an extra click.
  3. Keywords in the ad. If you haven’t noticed, Google puts the keywords of a search in bold every time they appear in the search results.  Well, they do the same thing with the ads.  When you put the popular keywords that you are targeting in the ad, they stand out over those competitors who do not.  Be smart.
  4. Use reporting tools. When you set up Google Analytics and connect it to AdWords, there are some great reporting tools that you can use.  I recommend setting up these reports to email you daily about ad positioning, click through rate, and conversions at the very least.  This will allow you to see how you are doing in a matter of seconds.
  5. Change your bids. The entire AdWords system works on bids for each keyword.  That is how Google selects which ads to show, when, and in what position.  If your ads are not showing up high enough, increase the bid, if you are spending too much and your positioning is always good, maybe drop them a bit.  Remember, this is going to be constantly changing based on what your competitors do.
  6. Monitor the competition. One thing that a lot of companies forget to do is monitor Google AdWords after you start using it.  Like I said, things will change, so keep an eye on them.  Run searches, check your positions, see what your competitors are using for their ads.  You don’t want your ads to look stale or obsolete in a crowd of new ones.
  7. Test ad variations. Neither you or I know what the best ads look like.  No one does.  So do yourself a favor and run a couple of different versions at the same time.  Google will do the hard work for you and show the best performing ones more often.  Or you can run them all the same amount of times for a month or so, then decide what works best and get rid of the losers.
  8. Be relevant. I can’t tell you how often I see these sponsored ads that have nothing to do with my search.  Do these companies just go after the most common keywords.  Warning: You will waste money if you use this strategy.  Go for the keywords you are best suited for, the unique ones that will let you reach YOUR customer base.  And then make the ad copy relevant to those keywords.
  9. Be the first. Be the first to advertise on a particular phrase.  Be the first to offer your product in a different way.  Are you the first company in your niche? Tell us that. It’s all about standing out, you have to be different, which reminds me…
  10. Be different. Sometimes I think that some companies look at what their competitors say in their ads, and then copy them.  You can’t fake your way to success on AdWords.  Define yourself, differentiate yourself, and tell us why we should click on your ads over the competition. Use words that stand out, prices, brands, etc.
  11. Headlines. Just like in traditional media, headlines of your ad on Google AdWords stand out.  They are the first thing we read, and therefore go a long way in determining whether or not I click.  Show me something there, the name of the product, the name of the company, or even use it to show the price.  If I like your headline, I am going to read your ad first.
  12. Make a decision on the content network. Google utilizes their vast network of advertisers to deliver your ads all over the internet, this is called their content network.  With an account from AdWords, you can easily choose to advertise across this network, or to limit yourself to just Google searches.  For some the content network might work, for others it won’t.  There is no harm in trying out both for a time and determining what works.  You hurt yourself by limiting yourself.
  13. Discounts convert. If you advertise specific products on Google, why not offer a discount specific to that ad.  Discounts convert people.  If I click on your ad and see that I am getting 10% off what I would have gotten if I came directly to you site, I am that much more likely to buy.  I feel like a smart shopper who just got a great deal.  I have seen it utilized many times, and each time it gets my attention.

There they are, 13 steps to a more successful advertising strategy.  Did I leave anything out?  Tell me what you think and offer suggestions of your own below.

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Ad Market Down, Innovate to Increase Value

January 23, 2009

logoseamlesswebboxIn a down economy, many things take a hit.  One market that is hurting right now is the advertising market.  Advertisers are spending less money, pulling ads that they don’t necessarily feel good about, and eliminating all ads that do not convert.  This means that websites that rely on advertising revenue to survive must respond in any way possible.

The two most important things that you have to consider when selling ads are website traffic and advertiser relevance.  Since advertisers are going to need to see real results to continue to advertise in this economy, websites need to be able to produce those results right away.

  1. Increase the value of the site. Increasing the value of a website will help drive more traffic.  The more traffic you get, the more ads you can serve.  This will help you reach more advertisers, and charge more for each ad.
  2. Increase the quality of your ads. Increasing the value of your ads means analyzing what it is that your users are looking for while they are on your site.  If it is a free service, most likely there is information that your users are looking for.  Nailing down the right ads to fit with the user experience can increase your click through and conversion rate a great deal.

For a quick example, take a look at two very similar websites, Seamless Web and Menu Pages.  Both sites are designed as online directories of restaurants in New York City.  Both serve the same purpose: I want to order food but I don’t know where or what.  On both, I can narrow down my search by location, value, type of food, etc.

The major difference is quite simple, Seamless Web allows you to order directly off of the website, while Menu Pages does not.  What does this mean?  Seamless Web has created an enormous amount of value to their site by making it more useful to its users.  And while Menu Pages is a great service, and possibly more popular, they fail to meet all the needs of their users.  For that reason, Seamless Web is set up to get more traffic, and more traffic can lead to greater ad sales.

One final example is Plenty-of-Fish, a free online dating site.  Plenty-of-Fish creator Markus Frind created the site with a simple concept, find an industry in which all competitors are charging, offer the same thing for free, and sell ads.  The idea has flourished.  By adding value to the site (making it free), he has made it one of the most popular online dating services in the world.  With all the traffic he gets from members and potential members, he can serve more ads than similar websites.  And if the average click through rate of an ad is constant, more ads means more $$$.

These are a couple of things to consider as you begin to create or redesign a service.  Websites that show real value to advertisers are going to get the advertising money.  And in this type of economy, it’s something that you need to do to survive.

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Big Picture, Simple Execution, Strong Vision

January 21, 2009

20070514-toyota-logoToyota may move to the number 1 automaker in the world in 2009, replacing GM.  They did this by continuing to see the big picture, work to sell globally, and produce cars that met or exceeded customer demands.  They didn’t use any crazy schemes, remarkable innovations, or cut throat marketing.

Early in its history, Google became the most popular search engine, moving past Yahoo.  They did this by creating a faster, more accurate search engine than we had seen before.  And though this takes a lot of research and innovative technology, it is basically just offering a service that people needed; one that was easier to use.

My point here is that a company does not have to execute any major, outside the box, strategy to succeed.  The most successful, long lasting companies in the world have done one thing consistently: Give customers what they need/want.  Whether it’s Google, Toyota, Apple, FedEx, IBM, or your small business.

So what does this mean for you?

Well, right now it means simplifying your vision to get through the recession.  It means concentrating on one or two things that you do well, and building on them.  Define what your customers need from you and give it to them, no questions asked.  If you do this, you’ll keep clients, it’s as simple as that.

In the future, it means establishing a set of core principles or values that you are going to stick to.  If you believe in offering the latest technology enhancements to your products, don’t cut corners or your customers will call you out on it.  If you believe in following up on your sales with superior service and maintenance, don’t hire weak support staff.  Look at the big picture, see what you need to do to succeed, and do it.  You’ll get in more trouble and take on greater risk by changing philosophies, changing industries, or changing strategies unnecessarily.

And this same idea that works in the business world can work for Barack Obama.

Dear President Obama,

Congratulations, you’ve made it.  Time to get to work.  You’re running the show and the people expect certain things from you.  So make the government work for us, and start to execute the things you’ve promised.  If you give us what you said you’d give us, we’ll love you for it.  If you carry out as we expect, the world can move forward.  Like a strong company, this country will only work with clear vision and leadership, core values and principles, and simple, straightforward execution.

Sometimes innovation comes from doing what’s right, and what is needed.

Signed,
Zach Heller, “Be Innovation”

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