It’s Show Time! Are you ready?
July 26, 2010
Iconic Made in Canada Products….Any Suggestions?
July 12, 2010
What's Your Store's Super Customer Saying?
Have you been listening to your business' "super consumers"?
In a Harvard Business Review blog titled "Tap Into Your Super Consumers," Eddie Yoon, a principal with The Cambridge Group, explained that businesses that act "on the insights from those consumers who spend disproportionate time and energy in the [product] category uncovers insights and innovations that encourage trade-up behaviors across other segments as well."
As an example, Yoon cites the case of a refrigerated meat manufacturer that grew its brand 40 percent in three years when it finally understood who its super consumers were--teenaged boys not backyard grillers as originally thought--and why these consumers loved the company's all-beef hot dogs. This new understanding led the company to focus its portfolio and change the emphasis of its advertising and marketing. These changes impacted across all demographic segments. And not only did the company sell more hot dogs, it got a premium price for its products and saw trade-up behaviour.
The lesson for retailers? Get a handle on the motivations, likes and dislikes of your store's core customers and use them to refocus your marketing and merchandise mixes. Definitely a worthwhile endeavour before you head out to the shows.
June 13, 2010
Are you showing your customers that you care?
Friday’s collection of Harvard Business Review blogs included
a post by John Sviokla titled “Three Tips for Curating Your Audience.” In it Sviokla explains that “curation is the process of overseeing the preservation and use of something precious.” For a business, this “something precious” is its “audience,” which is comprised of past, present and future customers. Curation, he writes, is about caring. The million dollar question: Are you showing your customers that you care?
Sviokla writes that when he taught marketing, he would say “Your brand is nothing more than the sum total of memory traces which everyone who has touched your company have in their heads—good or bad.” A curator, he explains, “thinks about how precious those memory traces are and how important it is to be prepared to create new positive memories.” To do this, he says, firms “must at least do” these three things: 1. Have full information about all the interactions a customer has had with your firm. 2. Be ready to do business anytime, anywhere and any way. 3. Treat their audience like it is precious.
This brings me to the garage I take my car to for maintenance and repairs. It’s a family-run business recommended to me by a colleague who was the editor of a service station management magazine. The garage had won an award from the magazine for its excellent relationships with customers and suppliers so I decided to give it a try.
That was eight years ago. This garage is not the cheapest place in the area to get my car fixed. In fact, there’s a Canadian Tire just as close. However, I continue to bring my car there because over the years they’ve proven to be honest and caring. They also never miss a customer service—and consequently, marketing—opportunity.
To begin with, they see keeping my car running safely and well as their responsibility. Routine oil change appointments are booked ahead of time and they call two to three days ahead of the arranged date to confirm that it’s still convenient for you and that you’ll be coming. At the end of an appointment, the service manager reviews what you need to have done to your car at the next appointment. They have always had a loyalty program but this year they changed it from earning one free oil change in ten to accumulating a cash credit that can be used on any service or product. They now also offer their customers complimentary roadside assistance (through a supplier). This comes complete with a 1-800 number to call, free towing, etc. In addition, they offer complimentary use of loaner vehicles; rides to and from home if needed; and a clean, pleasant waiting room. They also wash and vacuum the inside of your car before returning it to you.
All these things add up to a memorable, positive customer service experience. But as someone who studies and writes about marketing, I also like the fact that they quietly and efficiently take advantage of any marketing opportunity that presents itself to them. I had my car in for maintenance work and an oil change last Thursday. On Saturday, I opened the trunk to put my groceries in after shopping and found my beaten up, Subaru-branded license plate frame/cover. I looked down and saw that it had been replaced with a shiny, new one with the name of the garage on it. I had to smile—positive memory trace created. The car looked better and it’s good advertising for them.
I have to admit that there are days when I think I should be looking for a less expensive garage. But then I take my car in, they take good care of it and me, and price isn't that important any more. And, that's why caring for your customers is good business.
June 6, 2010
Zappos.com follows the Golden Rule. Do you?
May 25, 2010
Multitasking -- Just Say No!
I've been multitasking all day and haven't gotten a thing done.
For a long time I've suspected that multitasking, while much lauded, isn't good for a person's health or career. But now, thanks to Harvard Business Review blogger Peter Bregman, I have proof.
In his most recent entry, Bregman looks at "How (and Why) to Stop Multitasking." Here are some of the facts he cites:
1. "A study showed that people distracted by incoming email and phone calls saw a 10-point fall in their IQs.
2. When we do several things at once "our productivity goes down by as much as 40 percent."
3. "Research shows that heavy multitaskers are less competent at doing several things at once than light multitaskers."
What will happen if you give up multitasking? Bregman conducted an experiment in which he gave up multitasking for one week. This actions resulted in:
1. Less stress. He found it "delightful."
2. Significant progress on challenging projects.
3. A loss of patience for things that he felt were not a good use of his time.
4. Tremendous patience for things he felt were useful and enjoyable.
5. "There was no downside. I lost nothing by not multitasking. No projects were left unfinished. No one became frustrated with me for not answering a call or failing to return an email the second I received it."
Tomorrow, I'm going to try a day without multitasking. Maybe I'll get something done.
May 10, 2010
Open 365 Days a Year: Progress or Problem?
May 3, 2010
Five Retail Blogs Worth Reading
April 12, 2010
Looking at the Reality of Running a Small Business
What went wrong? How can I make it better? What am I going to do next? I'm going to tell you about the mistakes I've made, and the problems coming at me. (And also the things we do well, because we do excel at some aspects of our business.) I won't be dispensing my wisdom from above--frankly, I'm hoping to learn more than I teach. I'm going to try to be honest about the decisions I've made and how they have turned out.
There are so many kinds of business, so many different plot lines, there's no expert who can know it all. I sincerely hope that my posts prompt all of you to start sharing your own experiences. Thank you for your attention.
March 29, 2010
Why are we paying more and getting less?
"80 Ways to Steal Valuable Minutes for Your Work Day," it contains some good advice, and is worth a look.
