Just Enough...

The Today Show interviewed Dr. Laura Nash about "Faith in the
Workplace". Nash is an expert on business ethics with Harvard
Business School. I heard her speak at a business ethics
conference, recently. At the reception, I asked why the business
world seems so off-balance. She said we lack "complex decision
making" skills. We don't know how to choose between
non-comparable goals. So we try to get it all -- losing much
along the way.

I just got Nash's new book "Just Enough - Tools for Creating
Success In Your Work And Life". I haven't read it, yet. But the basic
premise is that many high achievers are dissatisfied. They're frustrated
because something is missing. Often they believe they don't have
enough. Perhaps this is why we're witnessing so many corporate
downfalls.

My marketing point? Good marketing ethics is essentially good
marketing. The more honesty and integrity you build into your
marketing efforts, the more successful they'll be -- both in terms of
finances and fulfillment. Forsaking long-term return for short-term
profits is a bad approach. Abandoning goodwill for greed will
eventually poison sales. Perhaps the answer is bringing our Weekend
Faith with us to the Workplace.

Want more thoughts on marketing ethics? Visit this link on the
American Marketing Association website:
http://www.marketingpower.com/live/content1175.php

Otherwise, I hope I've said just enough.

-- Phil Sasso

Who are you?

When I was trying to IM an associate recently I got a funny away message that went something like this:

"Sorry. I'm away trying to find myself. If you see me, would you tell me I'm looking for myself? Or call me and tell me where I am, so I can find out where myself went. And if you find me by myself you know I've found myself and I don't need your help to find myself anymore."

I don't know if it's original, but it made me laugh out loud.

I can relate. In my life, I spent my 20's trying to find myself and my 30's trying to let other know who I was.

In branding, you face the same challenge: finding yourself and letting prospects know who you are. Finding yourself requires that you understand what makes your brand unique. Sometimes an outsider can give you perspective on that. But that alone won't increase sales. You need to connect with prospects and let them know who you are.

One of my favorite old ads is from the 50's for McGraw Hill's trade journal publishing arm. It features a picture of a dour, foreboding-looking corporate buyer seated back in his chair, arms across his chest.

The ad reads: " I don’t know who you are…I don’t know your company…I don’t know your company’s product…I don’t know what your company stands for…I don’t know your company’s customers…I don’t know your company’s record…I don’t know your company’s reputation. Now, what was it you wanted to sell me?"

As a brand, getting to know yourself is good. Making sure others know who you are is best.

-- Phil Sasso

K.I.T.

I was looking at my old high school yearbook a while back and laughing.

You may laugh at a photo of me in a leisure suit. And although I find
the fashion funny, too, today I'm laughing at the autographs -- the
corny sentimentality of youth.

"2 Good 2 Be 4 Gotten" reads one from someone I didn't like much.

Another is signed Kit.

I stare at it. I don't remember any guys named Kit. I think I'd
remember a girl named Kitty. Then it dawns on me, it's K.I.T. --
Keep In Touch. I look at the name and feel sad that I don't remember
Laura.

Makes me ponder how many clients I've lost touch with. And wonder
how many customers and prospects my clients have lost touch with.
Without a lot of dedication, it's easy to lose contact.

Current marketing theory teaches that turning a prospect into a
customer requires a series of "touches": ads, mailings, phone calls,
visits, etc. The number of touches differs according to your brand,
your product, your price point and the prospect. I believe you need
to K.I.T. to maintain current customer relationships and resurrect
old ones, too.

Every Christmas, I send cards to people I don't talk to all year long.
But that's not really K.I.T., and it doesn't work in business, either.

To keep in touch you need a systematic approach. A dedication
to make regular contact -- like once a month or once a week.

One client I spoke to this week says it can take up to 8 years to turn
his prospects into clients. Eight years! Imagine how easy it would be
to give up on them. Would more frequent contact shorten the selling
cycle? Maybe. I know that I think more about people that I hear from
more often.

And as long as the customer's around, it's never too late to resurrect
an old customer relationship.

I'm not really sure if the Laura that signed my yearbook was the one
with Farrah Faucet hair or the one with a cowl-neck sweater in her
yearbook photo. Wish Beth and I had gone to my class reunion, now!

-- Phil Sasso

Give & Take...

I was counseling a client about discounting. They were tempted to fight an aggressive competitor with huge price discounts.

"What if they lower their prices?" I asked. "Are you ready for a price war? You won't build loyalty. Customers could lose sight of value and buy on price alone. It may even cast doubt about the quality of your services. And what if the competitor can sell below your cost? They could put you out of business!"

"And you suggest I do nothing?" he responded.

"No. I suggest you use giving as your marketing advantage'" I said.

"So don't discount my services -- just give them away?" he looked in my eyes to see if I was kidding. "Are you nuts?"

"Not giving away your services," I clarified. "I'm suggesting you align yourself with a non-profit that connects with your customers and give donations to them. We could advertise that customer purchases are helping support the Children and Puppies Charity -- or whatever. Then we'll work with the non-profit to get the word out."

Most consumers are swayed by cause-centered marketing. Given the choice between two brands of competitive price and quality, 76% of consumers would buy the one that supports a worthy cause, says a study by Cone Communications and Roper Starch Worldwide. The study also found 76% would switch brand loyalty for a cause -- and 54% would pay more to support a meaningful cause.

The key is finding an organization that fits your business, is meaningful to your target market and will work with you. A book store supporting a literacy program seems an obvious fit. But the program needs to be willing to lend their name or work with you.

If you can't find a cause to work with, consider starting your own. One of my clients started a scholarship program. Another sponsored a non-profit event in return for a plug in the promotional materials and the program.

Consider how giving can help you take the upper hand in a tough competitive market.

-Phil Sasso