Posts tagged ‘Marketing Campaigns’

Don’t choose potential customers over current customers (aka “Screw You” marketing)

Ok, I’m usually a pretty friendly, easy-going guy. But I gotta tell you… there’s a trend in some walks of life that really irks the hell out of me. Let me explain the nature of my consternation with a specific example…

My wife and I are in good shape, and like to exercise regularly. We’ve been members of various gyms over the years, but invariably return to our home gym after a while because of an incredibly annoying, insidious sales technique that most health clubs practice: the open house, followed by the trial membership. This usually takes place once a month, which means that for one week per month there are five times as many people in the gyms, and it’s virtually impossible to find an open exercise machine. What’s worse is that these trial members don’t know how to use the machines, so they take twice as long as they should. And to top it all off, they have no intention of joining the gym, but since it’s free they’ll cheerfully take advantage of the situation.

Bottom line: potential customers are provided the same privileges and accommodations as paying customers, but haven’t had to devote one dime. Conversely, current customers that are paying dues and keeping the doors open are not able to enjoy the services for which they have paid. I call this “screw you” marketing, for the obvious reason.

This is a very dangerous and inefficient practice for several reasons:

  1. You piss off your current customer base. Their experience is tarnished and they will most likely abandon the service sooner than they should. In the words of the marketer, this reduces the Lifetime Customer Value significantly. (Here’s one of Aximum’s success stories that focuses on Lifetime Customer Value.)
  2. You focus your energies in the wrong places. I imagine the conversion rate for open houses/trial memberships is very low, so it may behoove the gyms to concentrate on activities that collect customers with greater revenue potential and ROI. When you offer something free, you’ll get tons of action, but very little conversion. This is one of those undeniable truths of marketing.
  3. You don’t take advantage of repeat/renewed customers. These gyms spend a lot of time, energy, and money on developing the open houses. Curiously, not one ounce of thought or energy has been spent trying to get me to agree to a longer contract, sign up for other services, or anything else that would bring it additional revenue. This glaring deficiency in their marketing communication program shines out like a beacon in the night. If a company has proven, revenue-producing, long-term customers, it’s usually 3-5 times easier to gain additional revenue from them than it is to bleed it from the trick-or-treaters that sign up for the free stuff (sorry… I sounded a little bitter there).

When you’re seeking new customers, remember not to sacrifice your current customer base. If you abandon them, don’t be surprised if they abandon you.

Add to FacebookAdd to DiggAdd to Del.icio.usAdd to StumbleuponAdd to RedditAdd to BlinklistAdd to TwitterAdd to TechnoratiAdd to FurlAdd to Newsvine

Advertisements

June 25, 2009 at 12:47 am Leave a comment

Advertising 101: Know Your Audience

idhititEver seen this ad before? If you can believe it, it’s a McDonalds ad from a few years ago. In their effort to be really hip and cool, they accidentally offended and annoyed the very audience they were trying to impress. Unbeknownst to the out-of-touch marketing department, they were encouraging young men to copulate with hamburgers. Based on the guy’s expression, it appears that he was actually considering it. Those double cheeseburgers must be really good.

What’s the lesson here? There are far too many to list, but these are the ones that come to mind:

  1. Know your audience. If you’re speaking to a young, urban demographic, have some sort of knowledge regarding slang terms. Corollary: don’t encourage sex with your products.
  2. Know yourself. If you don’t have all the answers, it’s ok. Just don’t fake it, or you might end up looking foolish (and, in McDonalds’ case, creepy as hell).

Obviously, this was a big blunder, but McDonalds is so huge they were able to absorb the impact and not skip a beat. A smaller company, however, might not be so lucky, so unless you’re a behemoth like Ronald McDonald you should avoid these types of mistakes at all costs.

Add to FacebookAdd to DiggAdd to Del.icio.usAdd to StumbleuponAdd to RedditAdd to BlinklistAdd to TwitterAdd to TechnoratiAdd to FurlAdd to Newsvine

June 17, 2009 at 12:56 am Leave a comment

Secrets to a great webinar – Part 3

Here’s the third and final segment to running a successful webinar. In the first two parts, we discussed some helpful hints and best practices for preparing and presenting your webinar. Today we’ll discuss what you should do after your webinar to help you achieve your desired goals.

  1. Always have a post-webinar discussion. In Part 2, I discuss the fact that you always want to make your webinars one hour long. However, many times you’ll find several attendees that want to talk beyond the stopping time. No problem. Invite those folks to stay on the line for a post-webinar discussion, which can last as long as they want. You have a motivated, interested, and invested audience just sitting there, waiting for the next step, so take advantage of it.
  2. Have a demo, sample, download, and trial ready to go before the webinar starts. Assume that every attendee will want to take the next step (“Call To Action“) and be prepared to share/send your customary giveaway, whether it’s a demo, product sample, software download, online catalog, etc. Webinars are all about capitalizing on the buzz of the moment, so be sure to accommodate the needs of your attendees without making them work for it or making them wait.
  3. Measure. This goes all the way back to the first point I made in Part 1: Determine your goals. Keep track of attendees in your sales management system, and actively track their activity over time. Depending on your products and sales cycles, the realization of your goals may either be immediately known, or it may take some time to determine. Either way, be diligent and keep accurate records of interactions, activities, and purchases.

I hope you found this series to be helpful, interesting, and entertaining. If done correctly, webinars can be tremendously beneficial for lead & revenue generation, and can set you apart as an industry thought leader. With proper planning, goal-setting, and execution, you may find yourself taking your company to the next level faster than you thought possible. If you’d like more information, or would like to utilize a consulting firm to help you with your webinar needs, please contact me directly or though our web form.

Add to FacebookAdd to DiggAdd to Del.icio.usAdd to StumbleuponAdd to RedditAdd to BlinklistAdd to TwitterAdd to TechnoratiAdd to FurlAdd to Newsvine

June 10, 2009 at 12:58 am Leave a comment

Secrets to a great webinar – Part 2

Part 1 gave helpful pointers about what you should do before your upcoming webinar. Part 2 of this three-part series explores some tips and tricks that will help you get the most out of your webinar during the presentation. You’ve done your homework, you’ve worked hard on your delivery, and you have your audience captive. Here’s how to make the most of this opportunity.

  1. Utilize a solid, industry-standard, universally accepted technology. Under no circumstances can you half-ass this. Your image and perception will be defined just as much by the production of your presentation as the presentation itself. No matter how pure your intentions are, it won’t mean Jack Squat if the technology fails. Do yourself a favor and invest a couple bucks in a known, proven commercial product. Here are my recommendations:
    • DimDim. This is a fairly new open source technology that works great and is gaining a large following. Free for up to 20 people, which is perfect for small or one-on-one webinars. If you need something a little larger, you can present to 50 people for just $25 for a month. These are the month-to-month, no commitment prices; the longer-term commitment prices are even lower.
    • WebEx: The whole world knows and uses WebEx, so you can’t go wrong if you choose them. They’re a bit pricier, but still dirt cheap in the grand scheme. They are also your technology of choice if you have a really large webinar. For $69 for a month (again, this is the month-to-month price) you can present to as many as 1,000 people. Frankly, if you’ve managed to assemble 1,000 people to attend your webinar, you can’t afford not to get WebEx.
  2. Always make your webinars exactly one hour long. This is a standard length of time. Any shorter and it may feel rushed. Any longer and it starts to feel like a Fidel Castro speech to your attendees.
  3. Never, ever be late. Be respectful of people’s schedules, so never start late, and never end late. ‘Nuff said.
  4. Make it an open forum, not a closed sales pitch. After all, the purpose of the webinar is to develop leads, build your pipeline, and increase sales opportunities. Give your attendees the chance to ask questions and participate, which will make them more engaged and desirous to learn more. Do what you would naturally do if you were giving an in-person sales presentation.
  5. Survey. This is a step that many webinar hosts forget to do. Before you finish, ask your attendees to complete a short survey regarding what they liked/disliked, whether they found the information to be worthwhile, if they’d recommend this to a friend, and whether they have additional questions. And make sure you capture their contact information. If they’ve stuck with you for the entire hour, chances are very good they’re hot leads, so you’ll get a very high survey completion rate. If they’ve asked to be contacted, follow up with them as soon as possible, preferably within 24 hours.

Tomorrow – Part 3, which will focus on what to do after your webinar has concluded. Stay tuned!

Add to FacebookAdd to DiggAdd to Del.icio.usAdd to StumbleuponAdd to RedditAdd to BlinklistAdd to TwitterAdd to TechnoratiAdd to FurlAdd to Newsvine

June 9, 2009 at 12:16 am 1 comment

Secrets to a great webinar – Part 1

Several of you have asked me about webinars: what they are, how to conduct them, how to attract an audience, and how to generate revenue from them. Every industry is a bit different, which means there’s no magic answer, but there are some fundamentals you should follow to maximize the effectiveness of your efforts. There are plenty of places to go online that explain the nuts and bolts of webinars, so I’d like to focus on best practices and tricks of the trade I’ve obtained through years of experience.

This is a pretty lengthy topic, so I’m going to break it up into three parts: what to do before, during, and after your webinar. Today we’re going to focus on what to do before.

  1. Determine your goals and define “success. The importance of this activity cannot be overemphasized. Without goals, there’s no way to determine whether you’re doing the right thing or the wrong thing. Goals can be as concrete as website visits and revenue, or as abstract as brand awareness, lead generation, and industry leadership. Either way, predetermine your goals and define “success” as the attainment of those goals.
  2. Give attendees a month to get it in their calendars. Everybody’s busy, so the longer lead time you give people, the more likely they’ll attend. Let me put it another way… if you want to guarantee your failure, send out an invitation three days before the webinar.
  3. Invite a friend. Whichever webinar technology you use, be sure that it has a “invite a friend” function. You can expect 1/3 to 1/2 of your attendees to be invited friends, who will in turn invite their own friends. Set the viral marketing beast loose.
  4. Utilize Webinar Central or another webinar aggregator / directory to help promote your event. Let the web do the work for you. Along with inviting your colleagues, prospects, and customers, open the webinar to anyone that wants to attend (unless, of course, you’re presenting proprietary information). After all, the name of the game is ‘butts in the seats,’ so do everything you can to ensure this.
  5. If at all possible, use someone with a good radio voice. Monotone and mushmouth presenters can make an hour feel like an eternity, and all value in your message can be lost. You don’t need to hire Ryan Seacrest, but your presenter should have the ability to change tone, alter pitch, understand the value of pauses, and be engaging and conversational.
  6. Practice. I know that practice takes time and it’s no fun. But listening to a presentation that’s never been rehearsed beforehand is one of the more painful experiences one can endure. It gives attendees the impression that you’re unprofessional, unprepared, even uncaring. On the other hand, a well-rehearsed presentation sounds great, looks great, and puts the presenter and his/her company in the very best light. The question you have to ask yourself: if I were a potential customer listening to me, what would be my impression, and would I feel confident to buy from this person?

Tomorrow, Part 2: What you should do during your webinar.

Add to FacebookAdd to DiggAdd to Del.icio.usAdd to StumbleuponAdd to RedditAdd to BlinklistAdd to TwitterAdd to TechnoratiAdd to FurlAdd to Newsvine

June 7, 2009 at 10:43 pm 1 comment

Leads and prospects and customers, oh my!

(Sung to “If I only had a brain” from the Wizard of Oz)
I’d could use my time much better, create a great newsletter
And plant some prospect seeds,
I could share our comp’ny vision
Help them make a ‘buy’ decision
If I only had some leads.

Yes, it’s another original adaption from yours truly. I’m willing to take full credit because, heck, nobody else wants to claim that crap as their own.

I’ve noticed a lot of people using the terms lead, prospect, and customer interchangeably, so I thought I’d take today to explain the differences between them. Once you speak the language, and understand the differences, it makes a lot more sense. It is also another way for me to build the kumbaya bridge between sales and marketing. Here we go:

  • Suspect – not a generally used term, but a suspect is defined as a person that may be in the market for the types of products and services your company (and your competition) produces. Is is essentially a superset of all your potential customers. You may not know who they are, and they may not know who you are, but they are out there, waiting to be discovered. You need to connect with suspects, or have them connect with you, in order to convert them into leads.
  • Lead – this is someone who is in the market for the types of products and services your company produces. They may specifically know about your company, you may know who they are, or both. They have expressed either a specific or general interest, and have provided contact information about themselves. Depending on their needs, budgets, and timelines, leads are traditionally classified as cold, warm, and hot.
  • Prospect – defined as a lead who has passed the initial qualification (in other words, they are a real person who exists) and is currently being engaged in some way, depending on their needs. In sales/CRM terms, if an ‘estimate’ or ‘opportunity’ is created for a lead, the lead becomes a prospect. The level of contact a prospect receives ranges from an occasional email or phone call to an in-person demo or pilot project.
  • Customer – occurs when a prospect makes a purchase decision. Once a company receives money (or, in sales/CRM terms, a ‘sales transaction’) from prospects for their products and services, those prospects are officially converted into customers. Bring the money, honey.

I’m taking some badly needed vacation time this week, so I won’t be writing any blog entries until next Monday. Until then, have a great week, thank you for your continued support and comments, and we’ll start fresh on Monday. Hasta luego.

Add to FacebookAdd to DiggAdd to Del.icio.usAdd to StumbleuponAdd to RedditAdd to BlinklistAdd to TwitterAdd to TechnoratiAdd to FurlAdd to Newsvine

May 31, 2009 at 11:30 pm Leave a comment

What are the characteristics of a great website?

Aximum Marketing's home page
We all have our favorite websites. But what actually makes a website great? Here are my criteria – I’d love to hear your ideas as well:

  1. Visual appeal. The web can act as the great equalizer. Small companies can look big and legitimate with a quality website. Conversely, large companies that have lousy websites can appear distracted and amateur. There’s no substitute for giving a good first impression.
  2. Powerful messages that speak to your customer’s needs. Nobody likes a long-winded talker. Unless you have an information-based website (like Amazon, which provides full reviews of products, etc.), resist the temptation of generating massive amounts of information, especially on the home page. Keep it short, sharp, and targeted, with a predefined objective (see “Lily pad” marketing for more information on objective-based marketing strategies).
  3. Success stories. Providing case studies of your accomplishments have several benefits. You can demonstrate how effectively your company works with customers, provide concrete examples of success using metrics, share experiences with prominent customers to gain legitimacy and credibility, and strengthen the persuasion process through the use of similar customers in similar industries.
  4. Social Networking. Whether it’s a blog (like this WordPress blog), Facebook, Linkedin, Twitter, or social bookmarking, you cannot deny the impact of social networking on today’s marketing strategies. Customers now have an expectation of two-way communication, and social networking facilitates symbiotic connections between a company and its audience.
  5. Logical lead generation paths. It’s frustrating when you have to bounce all over a website to find what you want. A well-designed site understands its target audience and develops well-defined, clearly stated communication paths with the proper Calls To Action (CTA). Typical CTAs are filling out a form, downloading a white paper, signing up for a webinar, contacting a salesperson, and purchasing a product through your ecommerce function.
  6. Just the right amount of “wow” for your audience. Know they audience. If your products and services cater to accountants, don’t use bells and whistles that you’d use for, say, a teenage gamer audience. It’ll just turn them off and make them think you don’t understand them. I bet those accountants would love a virtual Dilbert experience, or a flash-based GAAP search tool.
  7. Web 2.0 look and feel. This means many things to many people. To me, Web 2.0 means dimensional or reflective graphics, modest use of Flash, “push button” navigation (like the simplicity of Redbox’s navigation), and the use of negative (white) space to add airiness.

What do you think? Are there other characteristics that are important for creating a great website?

Add to FacebookAdd to DiggAdd to Del.icio.usAdd to StumbleuponAdd to RedditAdd to BlinklistAdd to TwitterAdd to TechnoratiAdd to FurlAdd to Newsvine

May 28, 2009 at 1:30 am Leave a comment

Older Posts


Recent blog posts

Tweets!

Error: Twitter did not respond. Please wait a few minutes and refresh this page.

RSS Headlines

  • An error has occurred; the feed is probably down. Try again later.

RSS Marketing Metrics

  • An error has occurred; the feed is probably down. Try again later.

Top Clicks

  • None
November 2017
M T W T F S S
« Oct    
 12345
6789101112
13141516171819
20212223242526
27282930  

%d bloggers like this: