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Can You Handle the Truth?

July 26, 2009

Tags: Albany marketing, decision marking, Economy, Management, Strategy
Categories: Courage, Decision Making, Management, Marketing Blueprint, Strategy

You can say what you want about this economy, but the one thing it does is reveal the truth.

The truth about where you stand.

When I conduct strategy sessions with business owners and managers – The first thing I do is guide them towards a clear, unbiased view of where they stand at the current time.

Sometimes a company comes in on a winning streak. Sometimes it’s trending down.

Regardless, it’s imperative to distinguish the difference between the fundamental strengths and weaknesses of a business – and not let them become masked by outside factors. Like the economy.

Good times can mask weaknesses and strengths. But bad times show the blemishes your business has like a fluorescent light in the bathroom at 6am. It can be a little unnerving.

But it has to be done.

Like it or not, your core weaknesses and strengths have been exposed. Ask yourself some questions. Then ask yourself why?

- Have you lost key accounts?
- Are key employees leaving or showing up at your door?
- Are you unexpectedly winning clients you never could?
- Are you losing business that used to be a slam dunk?
- Have you been able to hold the line on pricing?

Believe me, you can’t blame it all on the economy.

Figure out what’s actually in your control?

The truth is, there will be fewer competitors in just about every industry when the dust settles. In fact, I believe that firms will be bought, sold, or fold in even greater numbers when things pick up a bit.

And the nation’s long-term problems will surely dampen any recovery once one does begin.

But that doesn’t mean there ain’t money to be made.

So there you are…basking in the bright light of truth.

Can you look at it long enough to do what needs to be done?

Posted by: Steve Banis

Want to Know More about Albany Marketing firm Burst Marketing?
Visit us at www.burstmarketing.net

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A World Disturbance

May 17, 2009

Tags: Albany marketing, business change, marketing trends, saratoga marketing
Categories: Courage, Decision Making, Management, Strategy

I start nearly every day by checking email. You may hop in the shower or choke down a breakfast bar.

Some finish dressing with sock-shoe-sock-shoe. I’m a sock-sock-shoe-shoe man.

Habits. We are all creatures of habit.

These rituals provide consistency and comfort. They help us deal with a complex world.

Customers are creatures of habit. Companies are creatures of habit too. And old habits die hard. Problem is, if some habits aren’t broken – the results can be devastating.

Lately, I’ve been thinking a lot about habits. What changes them, where things might be going, opportunities, and threats. And the potential actions we may want to consider as a result.

There’s something life changing going on. I can’t quite put my finger on it and I need to – we all need to.

There’s a world disturbance upon us. It’s the sum of many factors.

Here are just a few:

- 24 x 7 communication and the Internet

- World trade and shifts in global economic power

- An unfocused effort towards alternative energy

- Heightened fears from all sorts of stuff; too many to name

- An aging population in the industrialized world and a younger one in the Third World

Did you know that of the 6.7 billion people on the earth, China and India account for over 37%. The U.S. has 4.5%.

Think these things aren’t about marketing? Your business? Your family?

It all plays a part. Old habits and expectations are going to change. It takes a world disturbance. A series of cataclysmic events. That’s what forces them to change.

And you know what? It can be a good thing. A very good thing.

As long as you recognize where it’s all going.

When I need to get a handle on something, I usually think it through out loud. I hope you don’t mind, but I’m gonna think out loud right here.

Feel free to add your thoughts.

Posted by: Steve Banis

Want to Know More about Albany Marketing firm Burst Marketing?
Visit us at www.burstmarketing.net

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Love The Ones Your With

April 19, 2009

Tags: Albany, albany advertising, Albany marketing, Albany Sales Leads, Albany Social Media, Branding, recession marketing
Categories: Advertising, Brand/Reputation, Business Development, Courage, Customer Focus, Decision Making, Marketing Blueprint, Strategy

Driving down I-75 in Ashworth, Georgia you can find what’s claimed to be the world’s largest peanut. I know what many of you are thinking – “Who cares”, right?

A giant peanut may not be your definition of fun, but for many others it may be just the right fit.

Millions of Americans take in one or two of the hundreds of quirky roadside attractions each year. The family roadtrip wouldn’t be the same without it. Neither would sales at the gift shops and local merchants surrounding these landmarks of kitschy architecture. They bet their livelihoods on it.

Albany Marketing - World's largest peanut

Business owners are often worried about alienating some portion of the marketplace. “If I focus my marketing towards older customers, that’ll put off the younger end of the market, won’t it?”

Maybe, maybe not.

One thing’s for sure though. If you try to be all things to all people, then you’ll be nothing to nobody. To be successful in your marketing efforts, you’ve got to stand for something. It takes a little courage. But think of it this way.

Square peg, square hole

If you were looking for the best steak in town, would you think first of your local diner or of the place with the picture of a cow out front? Diner’s have huge menus – there’ll be a steak there for sure. But the place with the cow and all the cars in the lot tells you that this is where your red meat craving will be satisfied.

Creating a business of excellence is naturally exclusionary. Developing your detailed expertise, your customer service, even your accounting process is all tailored to fit the unique relationship you have with your customers. It’s not meant to fit every type of customer.

Competing in a crowded market, especially in more difficult times, requires you to focus on the segment of the market that’s the best fit for your business. There are 300 million people in the United States. Almost 30 million businesses. And a couple more outside our borders.

For most, capturing even a small fraction of their market will constitute a huge success.

So don’t worry about pleasing everyone, it’s not possible. It’s not even desirable. Be who you really are. Be authentic. Strive for excellence – and you’ll attract your kind of people.

You’ll be more profitable and happier for it too.

Posted by: Steve Banis

Want to Know More about Albany Marketing firm Burst Marketing?
Visit us at www.burstmarketing.net

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A Little Inspiration

April 5, 2009

Tags: Albany marketing, Blogs, saratoga marketing, Social Media
Categories: Brand/Reputation, Decision Making, Lead Nurturing, Social Networking, Uncategorized, Websites

There are a number of good reasons to create and maintain a business (or personal brand) blog.

You give readers a chance to get to know what you’re about and provide them a forum for discussing your ideas. Posting regularly (at least once or twice each week) offers search engine spiders the one thing they crave most: new content. So it helps with SEO.

The best blogs try to provide a service to readers. Good information, insights, and tips. That’s what keeps them coming back and builds your credibility.

Blogs also provide an essential service to its creators…it lets them think out loud.

We take in so much information that it’s hard to remember all of the little observations that can turn into big ideas each week. So writing is a chance to noodle through your thoughts, organize them, and pick out a few gems.

Panning for gold

This process goes on all over cyberspace. And readers are the big winners. You can mash up your favorite blogs using your reader. This allows you to decide which “gems” have value to you.

My fellow bloggers are some of the most brilliant and creative people on the Web. I use their ideas in my business and for my clients almost every day.

I’d like to share a few of the best resources I’ve found on the web for marketing ideas and information in hopes that you’ll find a little extra help in these difficult times.

• • • •

(the brief descriptions are by EvanCarmichael in his post last year)

• • • •

Duct Tape Marketing Blog – The award-winning John Jantsch offers his astoundingly practical advice, tips and tricks for small business marketing.

Seth Godin’s Blog – One of the most famous names in the industry, Seth Godin’s blog has long been a favorite for all things small business marketing. As the author of the most popular ebook ever, his blog never fails to give you advice you need.

Marketing Profs – What started as a simple blog by marketing professor Allen Weiss in 2000 has today turned into a fully-staffed venture that provides marketing know-how and offers valuable B2B articles and event information.

Brand Autopsy – How do you conduct a marketing physical for your brand? Check out John Moore’s blog to find out.

Marketing Sherpa – Using case studies, surveys, and other techniques, Marketing Sherpa researches what works – and what doesn’t – in all things marketing. (BMB note: Emarketers and online merchants will find studies by affiliate Marketing Experiments extremely useful)

• • • •

This list is by no means complete. In the future I’ll try to add to it so you can extend your own blog library.

…your comments on the burstmarketingblog are always appreciated.

Posted by: Steve Banis

Want to Know More about Albany Marketing firm Burst Marketing?
Visit us at www.burstmarketing.net

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Where’s Your Hudson River?

January 18, 2009

Categories: Brand/Reputation, Business Development, Courage, Customer Focus, Decision Making, Management, Marketing Message, Strategy

So there you are. Having a cup of coffee and gazing out your apartment window at the Hudson. It’s an afternoon ritual. Instantly, you hear a loud screeching noise and a jet airplane screams past your window. Then it seems to float to a landing on the Hudson River adjacent to midtown Manhattan.

Takes your breath away.

By now I’m sure you’ve heard the story of how the extraordinary landing executed by captain Chesley B. Sullenburger II saved 155 passengers and crew aboard a US Airways flight a few days ago.

It was clear thinking and decisive action in the middle of a crisis that made this latest “Miracle on 34th Street” (according to NY Governor David Patterson) possible.

Now we should all follow his lead.

Economic chaos continues to influence the mindset of businessowners and consumers. Here in Albany, the NY Capital Region, fear and uncertainly are taking hold despite being somewhat insulated from the dire circumstances in other areas.

And again I say you may never have a better time to build your business.

A study of the economic mess accelerating from 1972 – 1974 shows the following figures:

Dow Jones Industrial Avg (from highs):    – 45%
Unemployment:                                      7.2%
Inflation:                                                12.3%
30 year Mortgage:                                    9.8%

Now the same figures for 2006 – 2008

Dow Jones Industrial Avg (from highs):    – 45%
Unemployment:                                    7.2%
Inflation:                                                  5.6%
30 year Mortgage:                                  5.1%

The market drop and unemployment rates are bang on. But the rate of inflation and interest rates are significantly lower. (of course inflation ultimately has to be affected by over a trillion new dollars in the system.) Money is cheaper and prices are still relatively low. Business is still being done.

Do you think everyone folded up their tents in the 1970s. Certainly not. Those with clear heads and a strong vision backed them up with decisive action and created some of today’s biggest success stories.

Companies founded in the 1970s

Southwest Airlines
Microsoft
Apple
FEDEX
Oracle
SAS
Genentech

I wouldn’t have minded buying a few shares in these guys back then. Point is, amid all the doom and gloom – while your competitors are hunkering down in the corner thinking about survival – there are success stories being written all around you.

If your mindset is only about survivial then I’m afraid you may be one of those eaten in a jungle containing a few more cunning predators.

Take Action

Hone your message for the times - How will you help customers make money, save money, or save time?

Build a moat around your customers – tell them how much they mean to you and ask for their help. Same for vendors.

Target the customers of your competitors – they’re just waiting to be eaten.

Deploy a smart, targeted communications campaign to begin new conversations – Customers want answers and they need leadership.

Find others to join your community and market cooperatively.

Follow the lead of captain Sullenburger. Clear away the fog of chaos and sharpen your vision. Take decisive action. You’ll not only survive, you’ll be a hero to your customers, vendors, competitors, community, and family.

Posted by: Steve Banis

Want to Know More about Albany Marketing firm Burst Marketing?
Visit us at www.burstmarketing.net

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Playing to win

January 4, 2009

Categories: Advertising, Brand/Reputation, Courage, Customer Focus, Decision Making, Marketing Message, Marketing ROI, Strategy

Like many marketing people, I like to watch commercials. Can’t help it. Yesterday, while watching the NFL playoffs, I saw a spot from an advertiser who’s both tuned into their customers’ greatest concerns and has the fortitude to do something about it.

The Hyundai Motor Company is the world’s 5th largest automaker (Wikipedia). The Company reached this lofty position on the strength of a single marketing idea – a 10 year warranty. At the time, the Company had a poor reputation for quality and customers stayed away.

Playing To Win

But with this ‘promise’ to their customers, they took a leadership position on the question of quality. When they announced the program, and for years after, Hyundai was the only auto company willing to back its cars with such a security blanket.

Hyundai went from irrelevant in the marketplace to a big player. Quite simply, they bet the ranch by building the entire company around this single idea. One that answered the biggest question on the minds of potential customers: Hyundai’s quality.

They were already cheaper than their rivals, but they knew it wasn’t enough. They had to vividly demonstrate their answer to the quality question in order to give consumers ‘permission‘ to buy their vehicles.

It worked big time. Now they’re trying to do it again. While much of the auto industry is fighting for survival, Hyundai is playing to win.

Hyundai’s new program – Hyundai Assurance – allows customers to return their vehicle and walk away from their loan or lease if they lose their income within 12 months of purchase.

It Takes Guts

Hyundai’s main customers are those for whom losing their jobs is a very real concern. With this program, they’re demonstrating that they understand their customer and are willing to really do something to address their concerns. Once again, they’re trying to give people the permission they need to buy a new Hyundai vehicle.

The idea is simple – Answer the biggest question on consumers’ minds right now: “How can I responsibly buy a new car in this economy?”

They’re placing another big bet. We’ll see if it works, but boy does that take guts. And it’s the single best example of how you can rally your entire company around your customers’ biggest concerns. If you think about it, It’s just knowing what your customer needs and giving it to them. Marketing 101. But they’re really walking the walk aren’t they?

What is the biggest question/concern on your customers’ and prospects’ minds right now? Do you have the sensitivity to tune in? And do you have the courage to do what you need to do to respond?

Or will your competitors get there first?

Posted by: Steve Banis

Want to Know More about Albany Marketing firm Burst Marketing?
Visit us at www.burstmarketing.net

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2009: A Roadside View

December 28, 2008

Categories: Business Development, Courage, Decision Making, Management, Marketing ROI, Social Networking, Strategy

I’ve always considered this upcoming week to be like one of those roadway scenic turnouts. You pull over to stop and check out the view. Only this year, we don’t know what’s around the next curve. Be aware, it’s under construction.

Many find this last week of the year a good time to reflect and look forward. Top 10 lists are everywhere. People like lists.

Well here’s a list for you right now – the top trends of 2008. It’s a list of one:

1. Permanent Change

What’s going on in our lives and our country is no short term phenomenon. Its here and its permanent. The economy will recover, but not in the way we’ve become accustomed. There are numerous reasons for this. Among them are mounting debt, the evaporation of economic bedrocks, and a true ‘new world order.’

Sometimes it feels as if it’s all come on at once. But of course this change has been coming for some time.

It doesn’t have to be painful.

I strongly believe this nationwide transition can be a good thing. A VERY good thing. America has been and remains the land of opportunity; historically fueled by creativity, initiative, and guts. Here we have an opportunity that comes along only once every lifetime. A chance to reinvent ourselves and create a new course to prosperity.

And from my perspective, one of the key trends I see playing a big role in our new prosperity will accelerate in 2009 – the development of national and local community.

Look for signs of increased collaboration, more productive online social networks, and a focus on ‘psychic compensation’ as signs of new economic and social realities.

-> [You can read more about these trends in the full article]

From a marketing service perspective, strategists and creatives will be forced to stretch further than ever. We’ll need to use our skills and imagination to directly help produce sales – and for less cost. Forget pretty pictures and cool animated graphics – make the phone ring.

We’ve got a week ahead to help us catch our breath. Take in the scenery of the past year and imagine what it’ll look like in the years ahead.

We all have a major transition coming on. Don’t fight the trends. Make the most of them and you’ll enjoy the view.

Posted by: Steve Banis

Want to Know More about Albany Marketing firm Burst Marketing?
Visit us at www.burstmarketing.net

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Some Direct Advice

December 14, 2008

Categories: Brand/Reputation, Business Development, Courage, Customer Focus, Decision Making, Management, Strategy

The sky isn’t falling. Yet.

And while I truly believe that opportunity comes out of chaos and market uncertainty, today is not the time to wax theoretical. Today we acknowledge the 1,000 lb gorilla in the room. Economic conditions are brutal…and they’re getting worse.

{warning: if you’re squeamish, you might want to skip this next paragraph]

Amongst the stockpile of economic news, here’s the event that clinched it for me: Last week the U.S. Treasury sold $30 Billion in 4 week T-Bills at a rate of Zero Percent. This happened on the same day that rates on 3 month Treasuries turned negative for the first time since they began selling them in 1929. What’s this mean? It basically signals that institutional (read: BIG) investors would rather provide the government an interest-free loan than invest elsewhere. Some even seem willing to take a guaranteed loss on their money than take any other risk. [story here]

Wow. That’s something. Even in a week where Congress denied the nation’s automakers a government bailout (for now), news that institutions continued to stampede towards the relative safety of short-term government debt despite Zero percent interest tops my radar. Fear rules the day.

Bring the Marshmallows

My goal when writing this column is to translate my observations and experience into information and ideas I hope you can use to build your business. Most times I tell stories to make a point. People tell me it’s more interesting that way.

No stories today, just some direct advice. At the risk of sounding like a one trick pony (I’ve been writing a lot about this lately), if you haven’t already begun to do so, please formulate and execute your plan for building and activating alliances.

Embrace your staff and contractors. With the holidays upon us, you may find it a good opportunity to include their families in a more personal fashion. Don’t cancel the holiday party. If necessary, have it at your home. Don’t isolate people, connection is more important now than it ever has been.

A holiday card just won’t do it this year. You need to ‘touch’ every one of your customers. Retail store owners: Walk the floor and shake hands with a word of thanks – to customers and staff. Senior managers: Visit all key accounts and top producers. Executive Directors: Personally call all top and second tier donors and have associates call as many others as they can to share your plans. Keep in mind that if you don’t take the time, your competitors will.

Aggressively reach out to other businesses that touch your customers. Become part of a select group of like-minded businesses and coordinate your marketing message to maximize its reach. Protect each other. Nurture each other. It’ll take some leadership. If you don’t know how to start or who to approach – get help.

Here in the Albany area, we were hit with a massive ice storm this week that left about 1/3 of the population without power. It was cold, dark, and lonely. Those left alone always face the greatest risk.

Thriving in this economic ice storm requires us to huddle together for warmth. Everyone’s afraid. Start a campfire.

Posted by: Steve Banis

Want to Know More about Albany Marketing firm Burst Marketing?
Visit us at www.burstmarketing.net

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What’s working?

October 26, 2008

Categories: Business Development, Courage, Decision Making, Lead Nurturing, Marketing Message, Social Networking, Strategy

During a recent session with my creative team, we were debating the merits of offers designed to make the phone ring for a potential new client. It’s tough these day, isn’t it? I meet many business owners, and the economy is driving many of them to ask for advice on what’s working out there.

While every situation is unique, here are a couple of ideas to think about. They use two different strategies: One is already a well-known community builder – bringing millions of people together. The other is a recent direct sales promotion with a titillating offer.

[For greater detail on the sales promotion example below click here]

An American Social Network

There’s one thing that’s tried and true in America. It’s even considered recession proof. Offer an opportunity for a little entertainment, keep it free or extremely affordable, and make it easy to access. And as I write this I’m preparing to engage in one of the greatest social networking activities in the country that encompasses all three of these characteristics.

Need a hint? Today is a late October Sunday in America.

On fall and early winter Sundays in America, millions of professional football fans (and some who aren’t even fans) sit down with their picks. They watch upwards of 6 hours of football on TV; eat wings, subs, and chips; and drink beer, soda or other beverage of choice. They want to win this week’s football pool (for entertainment purposes only of course.) And on Super Sunday in February, the number of people in football pools reaches the tens of millions.

It’s entertainment folks, and it fits their lifestyle. The NFL has legions of fans who have incorporated football on Sunday into their lives. It’s part of their “cause” called life.

Is their something about your organization, industry, its participants, or the environment in which it operates that a certain segment of the population will care enough about to incorporate as a regular part of their lives? A recession doesn’t kill a person’s passion. Oh it may get in the way or dampen it sometimes, but it won’t kill it. People need to feel alive. And connecting with people, events, and things they like is an important way they stay energized.

Made you look

A good, old fashioned direct sales pitch seems rare to me these days. Recently I got an email with a very intriguing subject line:

How to Make Millions in a Bad Economy

OK, I’ll bite. I clicked and learned that InfusionSoft, a CRM vendor I’m interested in, is offering me an “Economic Stimulus Package”. Seems they’ve helped hundreds of small businesses, and to help me in these tough times, they’ve established a package that only 19 businesses will qualify for. Then, an email 2 days later, offered “Proof: InfusionSoft Doubles Sales in Any Economy”. It’s a pretty good email campaign.

I’ll bet lots of targets on their lists are intrigued, and at the very least, are taking some action. They made me look and that’s the highest compliment I can pay a direct marketing campaign.

[Again, if you want more detail on this campaign, see this article]

What’s timely in your business? What’s the biggest objection your sales effort is running into? Can you craft an interesting promotion that addresses that main objection and is relevant?

Remember, recession or not, good marketing still works.

Posted by: Steve Banis

Want to Know More about Albany Marketing firm Burst Marketing?
Visit us at www.burstmarketing.net

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You OK?

October 19, 2008

Categories: Advertising, Courage, Decision Making, Family Business, Management, Marketing Message, Social Networking, Strategy

I’ve got a couple of close friends who have senior positions in financial services. One’s at Wachovia, the other at UBS.

My friend at Wachovia, once considered one of the most conservative banks in the country, thinks he works for Wells Fargo now, although he’s not sure if he’s actually still employed. I asked my other friend at UBS how things were a couple of weeks ago. He told me that the bank had written off many billions over the summer and it was felt that most of the bad news was already dealt with. But this past week the Swiss National Bank put $5.3 Billion into UBS and established a fund to take on up to $60 Billion in thier risky assets.

How deep does the well go? Your employees, team member, suppliers, vendors, partners, and others are wondering the same thing.

Our government’s “rescue plan” signals the start of what is likely to be an 18 to 24 month struggle. When the sun shines brightly again, those standing will prove they’ve had the chops to compete, survive, and even grow. Right now, it’s time to close ranks.

When almost all the news seems as bad as it does now, the first thing to do is to speak with those in your inner circle. Ask them if they’re OK. Then tell them how you’re sizing up the situation – and be as honest and direct as you can be. Then ask for their help. Empower them to feel a part of the solution.

Your customers, suppliers, vendors, partners, and more want to deal with those they can trust to fulfill their promises. Where it applies, the media will also want to know your status. It’s essential that those on your front lines be fully briefed and know the game plan.

Start with your staff and team members – including yourself. Figure out the questions others will ask, and be ready with your answers. Be proactive: Pick up the phone, send an email, or a personal letter. Talk about how you see things right now. What your plans are. How you value your relationship with them and that you’ll be around to continue growing that relationship.

Your inner circle is the foundation for survival and growth. Take the time to check for cracks and fix any you find. Show understanding. Be reassuring. Show vision. Be a leader.

When you go home at the end of the day, you’ll probably have some fear and doubt – you wouldn’t be human if you didn’t. Be sure that you communicate with your personal inner circle as well. Include family, friends, clergy, your trainer, and yes, your psychotherapist. Don’t carry the weight alone. It’s selfish and a recipe for failure.

You’ve got a long road ahead. Pack a lunch. And invite all those close to you along for the trip.

Posted by: Steve Banis

Want to Know More about Albany Marketing firm Burst Marketing?
Visit us at www.burstmarketing.net

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Burst Marketing

Can You Handle the Truth?

But it has to be done.

A World Disturbance

Habits. We are all creatures of habit.

Here are just a few:

Where’s Your Hudson River?

Now we should all follow his lead.

Take Action

Playing to win

Playing To Win

It Takes Guts

Some Direct Advice

Bring the Marshmallows