During the course of working for marketing agencies, including my own, I have encountered some great insights. Some are what I expected and some take me completely by surprise. Finding out that a current small business client hasn’t a lick of marketing training or a creative bone in their body doesn’t surprise me. Seeing that […]
Paying a celebrity or sports figure to represent your company in promotional campaigns is an enormous gamble. You must take into account the integrity, lifestyle and personality of that spokesperson. If they are involved in negative behavior, they can have a detrimental effect on your sales, company and brand. Normally, when a spokesperson has a […]
It is a Herculean task to create, implement, manage and evaluate an entire marketing program. I know. I have implemented several. From strategy to tactics to vendor management, it is tough. The Colorado Avalanche Hockey Club has implemented a new one this year. At least, they have improved on it from last year anyway. I […]
As I cycle my bike to work one early fall morning, I am trying to not daydream on the bike path that I have ridden countless times. Although the path itself is very scenic and runs along the infamous Cherry Creek here in Denver, CO, I can’t help but inattentively petal continuously towards my office. […]
Yup. Those are both real words. I looked them up on dictionary .com. Microsoft word doesn’t even recognize them. They are not a good blog post title, but I don’t care. I digress. It is easy. You get caught in a rut. The same monotonous routine day in and day out. For some this their […]
It’s not “if” your product fails, it’s when Everyone drops the ball. Even the most reliable products and services will inevitably fail, your employees will say something incorrect (or, if you’re lucky, inappropriate) or something will just get missed. So, it isn’t that your product will fail, it’s when. So, make sure you are prepared […]
There is something to be said for perseverance. Whether in a sales role or maybe in a romantic situation. Books, seminars, training classes are quite abundant on the subject and for good reason. Perseverance can get you a long way. It can close that sale or persuade that woman (or man) to finally go out […]
Wow. That is a bold statement for a blog post. Who in their right mind would think a recession is good?
People are losing their jobs, the housing market is in the toilet and no one can get any kind of loan.
Let me explain my way of thinking.
Reasons recession is good for the individual
The reason a recession is good is that it forces people out of complacency. When times are good, we go through our daily routine, sell the way we have always sold, marketed the way we have always marketed, bought the way we have always bought, etc… So we tend be liberal with our money, and throw it around a bit. The recession has made us all think more about where our salaries go.
Reasons recession is good for companies
Companies are now forced to really concentrate on what their product/service offers. There are many “me too” products out there that satisfy a need but are of lower quality and have no real value. Companies that exploit this are going under and when they do they are removing their crap from the market. Once the economy gets going again, demand for all products will go up, consumer spending will rise and there will be fewer retailers out there to provide the supply to the consumer. These stronger companies will benefit immensely from all the second rate businesses that have been taking market share. Jobs will return, sales will increase and we will have weeded out all the weaker firms. I guess it is like a Darwinian business theory.
The other reason a recession is good for companies is because they will now be forced to innovate to improve their offerings. For example, I went to a gas station the other day and as soon as I pulled up, an attendant came walking out of the store directly to me. I was wondering what he was doing until I realized that this particular gas station was now full service!! With no increase in the price of gas.
I vaguely remember this as a kid and haven’t seen something like this in quite a while. I thought it was a terrific idea. A truly value-added service that can really differentiate this chain of gas stations from all the others. Now this isn’t the invention of the iPod or the Wright brothers and the first flight, but I believe this will make this chain stand head and shoulders above the crowd.
The recession is forcing companies to think about their offerings, products, services and in some cases, their entire business models. No complacency means better products for us, the consumers. Long live the recession!! (not really, but you get my point)
I work with a variety of different vendors that provide a variety of different products and services to myself and my companies. The majority of them are very competent, professional and helpful. They really attempt to build rapport with me, my staff and even my boss. They take time to empathize with me about my marketing pieces and understand what is important to me. Which is what I want them to do. I want them to make me feel that my projects are just as important as a Fortune 500 company.
However, there is one such vendor that brings me nothing but issues. The sales rep is a nice lady and is, coincidentally, the owner as well. She is very knowledgeable about her products and provides direction and opinion on which products would fit us best. After the buying decision is made is when the issues start.
Now, I do all the graphic design for my company even though I am not formally trained in the discipline. But, I try to design campaigns that are not too over the top or complicated and I know I do a good enough job to keep our brand identity consistent. The pieces I design get the job done.
When I finish a design, I ask this particular vendor what format, resolution, etc she needs the artwork in to fulfill our order. She provides that to me and that is what I provide to her. But everytime without fail, she contacts me saying there is something wrong. It maybe the smallest issue that could be fixed in a few minutes, but she doesn’t have the resources to do it. So here are the things I find wrong with her firm.
1. She doesn’t have a graphic designer on staff- Her entire business model is based on promotional material in which artwork as to be submitted for every project!!!
2. She doesn’t have the updated software to even view submitted artwork- See #1
3. She doesn’t have a way to submit artwork to her through electronic means- There is no FTP site and if you attempt to email a file to her, in inevitably bounces back because the file is always too large
4. She is snooty- She just seems pretentious, which makes me even more angry because of the other issues I have with her
My entire point is: she isn’t providing me with anything of value. She provides me the bare minimum, but it is a hassle for me to do business with her. Then why do I do business with her, you ask? My boss likes her. So, I must grin and bear it. However, if the decision is ever passed to me whether or not to change vendors, she will be gone in a heartbeat.
So, my question to you is: Do you provide value to your clients? Beyond what is the norm? Beyond what is expected?
Many businesses are starting to ask for more, for less from their vendors. If you are not keeping up with what your competitors are providing, you aren’t meeting your clients’ expectations. Which means you are going to lose that business. Make sure you are providing products and services that are more than satisfactory.
Girl Scout Cookies.
They are only here once a year. People purchase cases of the things because they are scarce 11 months of the year.
What a great way to create buzz, word of mouth marketing and PR.
McDonald’s does the same thing with the McRib. There are fanatical followers of the McRib all across this country and they talk and talk and talk about it. Does your company have such loyal followers? If not, you should look into how to implement a strategy like that.
I have always said that Krispy Kreme ruined their business model by expanding their products into retail establishments. I remember when they opened the first Denver location. There were lines out the door day in and day out. People who actually got through the line and purchased donuts were treated like Charlie Bucket finding Willy Wonka’s golden ticket!! People talked about it, a lot! The demand for those donuts were through the roof!! In addition, the local media were constantly doing a story on the store. TV, radio, the newspaper. They were there everyday! You can’t pay for that much exposure!
Scarcity can create such great viral marketing, it maybe something to consider….