Renee Prejean-Motanky

Archive for July, 2013|Monthly archive page

INSATIABLE

In Integrated Marketing Strategy on July 28, 2013 at 7:01 pm
Bottomless Pit by Majdalenka-d4kd667

Bottomless Pit by Makdalenka

Long-lasting systems can’t survive if they remain insatiable.

An insatiable thirst for food, power, energy, reassurance, clicks, funding or other raw material will eventually lead to failure. That’s because there’s never enough to satisfy someone or something that’s insatiable. The organization amps up because its need is unmet. It gets out of balance, changing what had previously worked to get more of what it craves. Sooner or later, a crash.

More fame! More money! More investment! Push too hard and you lose what you came with and don’t get what you came for.

An insatiable appetite is a symptom: There’s a hole in the bucket. Something’s leaking out. When a system (or a person) continues to demand more and more but doesn’t produce or give back in response, that’s because the resources aren’t being used properly, something is leaking.

If your organization demands ever more attention or effort or cash to produce the same output, it makes more sense to focus on the leak than it does to work ever harder to feed the beast.

The ROI of Social Media

In Integrated Marketing Strategy, marketing, Social Media, The Internet, Tips You Can Use on July 20, 2013 at 12:52 pm

ROI

 

The most-asked questions  are “Where’s the ROI in social media marketing?” and “How much should I be spending on social media marketing?”  My answer is always, remove the term social media from those questions and ask them again:  “Where’s the ROI in marketing?” and “How much should I be spending on marketing?”

Social media isn’t a tool box of silver bullets given to us by aliens.  It’s simply a new set of technologies and concepts that we need to add and integrate into our existing marketing strategy.

And, there is always an ROI to marketing.

Holistic Market Research

In Business Strategies, Integrated Marketing Strategy, marketing, Marketing Plan, Marketing Research on July 9, 2013 at 7:53 pm

Holistic market research2

Let’s face it. Most business leaders and marketers don’t do a sufficient job with the market research component of their strategic planning. There are a few reasons behind this:

  • It’s not real exciting (unless you’re the analytical type and really into data)
  • It can be incredibly expensive (and everyone wants to save the budget for the fun stuff)
  • We’re afraid of what we might find out (it can be easier to create a view of the market we want than to face the market realities).

Holistic market research

And, for those of you who do go through the considerable effort of market research, scouring the reports from Jupiter, Gartner, or other industry watchdogs, you’re still missing the boat. This global look at the market is important, but not complete.

Unless you have unlimited budgets (and if you do, RPM would love to talk to you), the critical step of market research can’t be short-changed. To make sure you’ve covered all the bases, consider these four methods for a holistic market research effort:

  1. SURVEY Customers and potential customers, as well as colleagues in or around your industry or target market. One of the best market research sources you have, is your own customer base and      sphere of influence. Conduct a web survey (of no more than 5 questions) aimed  at pulling future trends from this valuable resource. Ask your customers  a) what the most important factor is for buying a product like yours; b) what is the biggest hurdle they’ll face in      next 12-months; and/or c) if they could change your product or service,  what would they like to see (and why). Choose three of the most important      research questions and have your sales team actually call those customers  who didn’t respond to the web survey for their answers!
  2. GATHER Team Input  It is important to include your internal staff when conducting market research. Your “front lines”  can pass on valuable “feet-on-the street” trends they see and  hear every day. Every team member from sales to product development to customer service can contribute important data that should be considered  in your marketing plan. It is also important to solicit team feedback INDIVIDUALLY and not as group input.  Research shows that group dynamics tend toward having the more vocal opinions expressed at the expense of quieter group members, or having such a general response as to not be relevant.    Once you’ve collected individual feedback, compile the results into one document and review for completeness, consistency, and consensus. Where      consensus is lacking, address as a team—using the data from your other research methods to guide the way.
  3. STUDY  Your Competition (consider “secret shopping” to  get the “real experience”).  I often      hear from clients “we know our competition.” Then, as our marketing team studies and “secret shops” the competition on their behalf, a completely different picture unveils itself. It’s important to an effective marketing strategy that we not make assumptions      about our competition (who they are, how they position themselves, their      strengths/weaknesses, etc.). If you don’t have the resources to conduct a thorough competitive study, hire someone who can. It will be enlightening, as well as valuable to the research you need for an effective marketing strategy.
  4. EVALUATE The Market (concentrate on information that indicates size, trends, and need). This is the method where most marketers focus all of their attention. It doesn’t, in and of itself,      provide a complete picture, but it is important to your strategic planning. When evaluating the market perspective, start with trade associations, publications, and research companies focused on your industry. Many of you can’t afford the reports or fees from the research companies covering your industry, but don’t be discouraged. Most of the reports include free executive summaries that will give you what you need.

Once you have gathered, compiled, and analyzed the information from these four research methods, you’ll want to summarize the significant points from your learning in the research section of your Marketing Plan.

This holistic approach to market research will give you everything you need to create an effective marketing roadmap.

9 TIPS TO HELP YOU GET QUOTED IN THE MEDIA

In Communications, Media Relations, Public Relations, Tips You Can Use on July 4, 2013 at 3:21 pm

Media Coverage

First, know the goals and direction of the interview. Is it for the reporter’s background or on the record? Even if it’s a background interview, it can still be a good use of time, as journalists and bloggers tend to return to good sources. If it’s for attribution, assume you aren’t the only one being interviewed and remember what your competitive edge is.

Be prompt. Sometimes even great interviews don’t make it into the story because they blow the editorial deadline. Make sure you know what that deadline is and adhere to it. Journalists work in a dynamic environment, so being included in a story often comes down to being the first to return a reporter’s call.

Be accessible. Don’t speak in buzzwords, acronyms, or technical jargon and, if you must, then explain any terms used succinctly. If you’re being recorded for radio or TV, speak in sound bites, and “headline” your responses by leading with the important information first, then add details and supporting points.

Be contrarian. Don’t feel you have to tow a straight line. Carve out what makes you different, and deliver your point of view in a bold and confident way.

Coin a phrase. Catch phrases and analogies can break through and ensure a successful quote. For example, if you can be the first to call derivatives “financial weapons of mass destruction” (as Warren Buffet did) or dub a self-imposed Twitter crisis a “Twimmolation” (ref: TIME Magazine; James Poniewozik), then you’ll probably own the pull quote.

Be colorful. Consider visual metaphors to make your point. Instead of saying your product launch is successful, maybe say it’s a hit of “Beyoncé proportions.” A training program isn’t just the best, it’s the “Show Me the Money” of the category. A competitor’s mission isn’t merely difficult, it’s “changing tires while driving on two wheels.”  You get my drift…

Use statistics. A single, compelling statistic, piece of research, or fact can make a big difference in an interview, because it adds credibility. Pull out your big guns, but use them sparingly.

Go deeper. Spend an extra 10 minutes thinking a level beyond your most logical comment to a topical question or issue. If you can be prepared to share the reasons behind a development, an emerging trend, or a prediction for the future, your quote will stand out.

Reference your own authority. Because your remarks are often subject to editing, it’s a good idea to reference your credentials and to mention your company at least once during the first three responses. But don’t overdo it or you’ll sound like an advertisement rather than an authority.