Is it Plugged In yet? ...and other mystifying questions!

Yes...

The question came...right after I finished my explanation of my problem and my plea for help.

"Is it plugged in yet?"

Now, I consider myself a smart person.  And I understand that this basic question can certainly offset lots of time spent on deeper troubleshooting, when dealing with a 1st time user.  However, the REAL question is WHY ask this question to a customer that has a proven background and long history of purchases with the firm?

The answer will shock some ... and only shock others because OTHERS are shocked!

    The answer is that they did not know me at all!

Sure, they had my name and account particulars.  Probably had my purchase history handy.  Indeed knew the model I had purchased.  Certainly could access my past service calls.

Did they use that data??  Seems not.

So...my post for today centers around using organizational knowledge assets...seemingly important and routinely available data that can be transformed into knowledge!

When I speak, I frequently share stories about the Ritz Carlton hotel and experiences with their service.  I share, because the stories are amazing... personal guidance to the coffee shop by a contractor, using the name of the guest by each associate, personal notes by the GM.  Stuff of service legend and the envy of many companies.

However, the real essence is that the story HAPPENS because the staff is willing and able to act.

Willing and able...hmmm.  

Willing means that staff is ENGAGED and feels empowered to act because they believe they are part of the solution and the team... and not simply an employee.  Ritz Carlton gets it..and so does their staff!

Able means that the staff is trained, mentored, coached, evaluated and rewarded for their efforts.

Did you know that Zappos (the online retailer) actually offers new staff $2,000 if they quit AFTER the four-week training.  Its designed to weed out those that are not committed to the Zappos way.  Zappos knows that the cost will be immaterial to the potential service risk of a poor employee.

So, getting back to the "is it plugged in yet?" question... more than likely it is not the "fault" of the service rep, but the failure of the leaders to ensure their staff was "willing and able" to use the data at their fingertips and transform it into service knowledge.

Here is how that service call might have gone...

"Mr. Clapp I see that you are a frequent client of "ABC" and I appreciate your continued support.  Knowing that you purchased the XTRA GOOD version, I will move straight into troubleshooting, well beyond simply powering the unit.  Now, with your last call..."

See how the data available was transformed into service knowledge to both engage and delight the customer!  Here is where the caution goes... you don't need a multi-million dollar Oracle database to manage the info...you need a willing and able staff.  Technology certainly helps, but I have seen many expensive systems go unused because of poor training and a disengaged staff!

Next time...how to CREATE a willing and able staff.

Cheers!


Want to learn more?  Enroll in the MarketMatch eCollege!  Smart learning online sessions delivered five consecutive Tuesdays with CFMP credits, tactical advice and a game plan for success!  Enroll here!

MarketMatch is a full-service marketing consulting firm, dedicated to the credit union and community banking community.  We utilize knowledge-based strategies to help you FOCUS on the efforts that will generate MOMENTUM and yield the greatest RESULTS for your bottom line.

Learn more here.

Chat with me LIVE!

Or contact me directly (click here).

Marketing is context

In 2007 The Washington Post carried an astonishing article describing a social experiment the newspaper had conducted. The Post had asked Joshua Bell to play in the Washington metro during the morning rush hour. As the newspaper describes it, “No one knew it, but the fiddler standing against a bare wall outside the Metro in an indoor arcade at the top of the escalators was one of the finest

Getting Social (Part 3 of 3)

(PART 3 of 3)

We have a lot of community banks and credit unions asking us about Social Media.  "How can we…?"  "Should we…?"  "Can you help…?"

Well, to all you community banks and credit unions … Yes we can!  Yes you should (probably)!  Here’s how…

As you consider Social Media, or as you craft your plan, consider the following:

RESPONSIBILITIES /RESOURCES

If social media is all about getting people talking, than the most important resource in social media are the people who DO the talking.  The structure of each organization is different … some institutions allow tellers to post, some only allow management.  Identify the structure that best fits your culture.

You must first identify your Social Media evangelists - those individuals that use the social media tools to engage a given audience and share ideas, service, solutions and company information.  Then create an “Authority Flow Chart”:  A hierarchy of responsibilities from those that contribute, to those that police and approve to those that handle negative comments.

RESPONDING TO NEGATIVE FEEDBACK
No one likes negative feedback. But negative comments will happen whether you’re on Facebook and Twitter or not. It is important to document who will respond, what your response will be, and the method you will use to respond -- on the site page or with a phone call -- if a negative comment is made by social media. This is an opportunity to proactively address issues and manage perceptions. The worst thing you can do is to ignore negativity and pretend it never happened. In general, you should view negative comments as a gift and take the opportunity to learn what is not working in your process. This can actually help you to provide better customer service. 

BUILDING A FOLLOWING
“Social,” by its very definition, is communal.  It is at its most productive when you are reaching people and getting them talking.  That said, a core objective of any social media initiative is to build a following.  

This does NOT mean that a single-minded focus on “Likes” is appropriate.  It is better to build quality contacts over sheer quantity.  To accomplish this, you must have a relationship focus to your communications rather than simply a transactional focus.  Collecting “Likes” is one measurement … facilitating quality conversations is a much more important one.

TRAINING & GUIDELINES

Each employee is a representative of the bank or credit union brand - in and out of the office. The general rule of thumb is, “If you wouldn’t make a comment to the company president, don’t post it online.”

Your social media plan should include detailed guidelines including:

• Employee Code of Conduct for Online Communications
• Employee Personal Social Network Policy
• Corporate Social Networking Policy
• Corporate Blogging Policy

SOCIAL MEDIA MISTAKES

Avoid these common Social Media pitfalls:

• Running specials all the time
• Waiting for people to find you
• Running contests and games constantly
• Blocking negative feedback
• Waiting 24 hours to respond
• Not connecting your channels
• Not continually monitoring 
• Simply focusing on “Likes”

For Part 1 of this series, click here.

For Part 2 of this series, click here.

MarketMatch is a full-service marketing firm, dedicated to the credit union and community banking community.  We utilize knowledge-based strategies to help you FOCUS on the efforts that will generate MOMENTUM and yield the greatest RESULTS for your bottom line.

Learn more here.

Chat with me LIVE!

Or contact me directly (click here).

937-426-9848

Where to Find Your GOLD MINE of Market Data

Where is your richest resource within your company? It’s with your front-line managers and staff. They are the ones who:

• Best understands your customers’ needs and wants,
• Know what and where service delivery is inefficient and not working,
• Have family and friend relationships within the community our customers live in,
• Possibly have friends or acquaintances that work for the competition.

These are just a few of many reasons why it’s important to engage your frontline personnel in your marketing analysis, planning and implementation. Make your frontline part of your marketing team and you will experience your richest resource – your gold mine of market data.

Best,
Melissa

• Learn More Here
• Chat with me LIVE!
• Or contact me directly

If you're going to be able to look back on something and laugh about it, you might as well laugh about it now. - Marie Osmond

MarketMatch is a full-service marketing consulting firm, dedicated to the credit union and community banking community.  We utilize knowledge-based strategies to help you FOCUS on the efforts that will generate MOMENTUM and yield the greatest RESULTS for your bottom line.

Getting Social (Part 2 of 3)

(PART 2 of 3)

We have a lot of community banks and credit unions asking us about Social Media.  "How can we…?"  "Should we…?"  "Can you help…?"

Well, to all you community banks and credit unions … Yes we can!  Yes you should (probably)!  Here’s how…

As you consider Social Media, or as you craft your plan, consider the following:

THE RIGHT TOOLS

Just as there are several radio stations for different demographics, there are numerous social media channels that all accomplish different tasks.  Based on the objectives and defined targets, identify the appropriate social channels.  Some of the more common options are:

• Facebook
• LinkedIn
• Twitter
• YouTube
• Blogger
• FourSquare

CONTENT

Social media is about relationship building.  The best way to build a relationship is to do something for another person.  Content, therefore, cannot be construed by the target as “salesy” or self-serving.  Examples of successful content are:

• Value-added tips/advice
• Sharing of free tools
• Interactive:
• Customer-driven tips
• Games/Contests
• Polls/Surveys
• Occasional event, product, promotional alerts
• Community activity alerts

TRACKING

Tracking of the numerous social media sites would quickly become an overwhelming task if completed in-house.  There are several third party social media monitoring platforms that will allow for real-time tracking and analytics of your brand and conversations across social channels.

Be on the look out for part 3 (Negative Feedback, Responsibilities, Following, Guidelines & Mistakes) on Friday.

For Part 1 of this series, click here.

MarketMatch is a full-service marketing firm, dedicated to the credit union and community banking community.  We utilize knowledge-based strategies to help you FOCUS on the efforts that will generate MOMENTUM and yield the greatest RESULTS for your bottom line.

Learn more here.

Chat with me LIVE!

Or contact me directly (click here).

937-426-9848

Learning from the Past, Looking toward the Future

A little more than a week ago, I announced that I would be leaving Arena Stage to lead the marketing and membership efforts at the Smithsonian Associates at the end of March. I've been overwhelmed by the kind words and best wishes sent my way. For that, I am very grateful.

Some have also asked if I plan to continue blogging. As you may have noticed over the years, my blog covers topics that I am passionate about, often times motivated by current trends and experiences. As I move from a performing arts organization to a museum and research institution, undoubtedly my perspective will evolve over time. However, I hope to continue to contribute to online dialogue and debate.

My four-and-a-half years at Arena Stage have been the most rewarding and exhausting of my career. When one decides to pursue a career in a field they love, like many theater artists I know, these two adjectives are not mutually exclusive; in fact, many would argue that you can't have one without the other. When joining Arena Stage, I knew there were very few precedents for what we needed to accomplish, and with the opening of the Mead Center and a 2.5 year transition ahead of us, a clear path wasn't always available. It was an opportunity that intimidated me, but I knew that I would get an education of a lifetime.

In looking back, I've learned quite a bit along the way...

• Always give an "exclusive" to your best and most loyal customers. Trust me, if they read something important in the daily paper before they hear it from you, they won't feel like part of the family.
  
• Customer service can be a significant competitive advantage. When the whole world has come to expect awful customer service, it creates an easy opportunity to shine.
  
• When hiring, if you have to pick between the two, a "fire in the belly" always trumps experience. One can teach skills, but one cannot be taught to take pride in their work.
  
• Resources are an investment--monitor and expect returns. Marketing directors have two primary resources: human and financial capital. Where and when to invest each is a critical decision. When budgets are tight, monitor cost of sale and make data driven investments rather than emotionally driven ones.
  
• Decisiveness is critical. Leap or die. Would you rather sip champagne and listen to the violins on the Titanic, or slap on a life vest and jump into the unknown? The unknown may be scary, but the known isn't an option. A delay in decision-making will almost always be costly, as it is rare for circumstances to change, but options will diminish. The non-profit theater landscape in the United States is changing rapidly, and adjustments must be made.
  
• Maximize successes to mitigate risks. Unless you present nothing but bankable commercial successes, risks are inherent in the theater. When you catch a break, ride it for all that it's worth in order to mitigate the risk that is right around the corner.
  
• Looking for improvements? Track results. By tracking, you send a signal to the company that something is important. Important enough to monitor. By not tracking, you send an equally powerful signal that something isn't worth the effort. Know your vital statistics, and track them aggressively.
  
• Marketers are masters of perception, not reality. Unless you are talking about financials, marketers should keep their attention on perception. Perception, as we know, is reality for most.
  
• Subscriptions aren't dying, theaters are killing them. If patrons can get great seats at a significant discount at the last minute, the value proposition of a subscription doesn't exist. Best seats at the best prices = more subscriptions (as long as the product is good).
  
• Develop a strong team, and hire to your weaknesses. Major accomplishments are always a team effort. Honestly assess yourself, recognize your weaknesses, and hire people that are better than you in areas where you need improvement.
  
• Comp tickets are disrespectful. There are a few good reasons to give a comp here or there, but nothing devalues the work of an organization or artists more than giving away free tickets. Why do we expect society to value the arts if we don't?
  
• Make decisions for tomorrow instead of today. Often times we are faced with decisions that could result in a short term gain, but a long term loss. Unless you are in desperate times, always set yourself up for a better tomorrow, even if it makes a more difficult today.
  
• Take a Pavlovian approach to discounting. Use discounting as a means to encourage desired behavior. Want people to purchase early? Avoid late discounts whenever possible.
  
• Marketing and Development are two sides of the same coin. Look at revenue generation as a team with the goal of raising the most revenue at the least cost. Consolidate resources, eliminate redundancies, invest in campaigns that perform the best across the departmental divide, and look at your customers holistically with an eye toward building loyalty and lifetime value.
  

I will always remember my time at Arena Stage fondly, and am thankful for the education I received.

Looking forward to catching a performance in the near future--this time though as an audience member (and yes, I will buy my tickets).

Why Provocative Content Works Best for Acquiring Leads

Consistently acquiring enough new leads has become a major challenge for many B2B companies. Business buyers now have access to a wealth of online information, and they can easily perform research and gather information about products and services whenever they want, on their own terms. Therefore, they are less likely to respond to lead generation campaigns.

It's now clear that compelling marketing content is essential for successful B2B lead acquisition. Offering access to a content resource (a white paper, an e-book, etc.) is quickly becoming the go-to tactic for lead acquisition. So, what kind of content is most effective for acquiring new leads?

Content performs three basic functions in B2B marketing.

• It educates potential buyers about the problems and issues they're facing and about how those problems and issues can be addressed.
• It explains how your solution works and describes the benefits your solution provides.
• It reassures potential buyers by alleviating the fears that always surround major purchase decisions.

The diagram below (based on the six B2B buying stages developed by SiriusDecisions) illustrates that the primary function of content depends on where a potential buyer is in the buying process.

• Educational content is most relevant for prospects who are in the early stages of the process.
• Content that explains your product or service becomes most important for prospects in the middle stages.
• Reassurance content takes the leading role in the later stages of the process.

Most of the potential buyers who receive lead acquisition offers are not "active" buyers, and of those that are, most will be in the early stages of the buying process. Therefore, educational content is usually the best type of content to use for lead acquisition.

But there's a catch. Not all educational content is equally effective for lead acquisition. The best kind of content for acquiring leads is content that is both educational and provocative. No, we aren't talking here about content that includes scantily-clad models or outrageous political statements. What I mean is content that provokes new thinking.

The essence of provocative content is insight that teaches prospects something new about issues that are important to the future of their business. Provocative content can provide new insight by:

• Describing problems or issues that prospects are not aware of
• Making the full ramifications or consequences of problems or issues visible to prospects
• Introducing prospects to new solutions for known problems or issues

The second defining characteristic of provocative content is that is speaks in a "strong" voice. Provocative content is intended to give prospects a mental "poke in the ribs" that will capture their attention and make them think about their business in new, and not always comfortable, ways. In grammatical terms, the language of provocative content is more "imperative" than "descriptive" or "explanatory."

Successful lead acquisition comes down to making prospects curious enough to respond to your offers. Provocative content creates that necessary curiosity by presenting new and valuable insights in a powerful and unequivocal way.