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You’re Not Paranoid

May 25, 2009

That’s right, people really are following you.

As the world continues to shrink, the number of things competing for our attention has gotten way out of whack. That’s been a big problem for media outlets – TV, Newspapers and Magazines in particular.

So marketers have been keeping a closer eye on you.

Don’t be surprised. You used to be able to simply buy a list of “high net worth investors” or “dog lovers” or “golfers” or “cooking enthusiasts.”  But now, those categories are way too big to be cost effective.

“Dog lover” is too broad. You need to drill all the way down to “Labradoodle lovers in Upstate NY.”

The era of 1 to 1 marketing is finally maturing. Mass advertising is inefficient. Enter “on-demand” TV. Direct mail needs more fine tuning. So add a personalized URL (PURL, landing page) to further qualify your list.

Finding your target is a tricky thing. Creating a virtual marketing “GPS” is the way to go. Surround your target and triangulate their coordinates. Then fire off your rounds of communication.

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In appreciation

As a father raising a growing boy, I don’t like that at all times, war wages somewhere on the globe…and that all too often our nation is caught in its grip.

Today, however, is Memorial Day. A day to put aside ideology and honor those who have followed their convictions to serve our country. I want to offer my sincere gratitude to all our veterans and to the memory of those who passed in service. My dad is a Holocaust survivor and neither he nor I nor my son would be here without the sacrifice of those in our armed forces.

Posted by: Steve Banis

 

Phone…Part II

May 3, 2009

Consumer telemarketing has achieved the unfortunate reputation achieved by used car salesman, carnival game operators, and Bernie Madoff.

However, to reach the communities you’ve built over time – your customers, prospects and other contacts – using voice to deliver your message can be both courteous and extremely effective.

The people on your lists expect that you will engage in ongoing communication with them by virtue of your relationship. So you’ve already received their permission to contact them. That makes you compliant with CAN-SPAM and perfectly OK to pick up the phone.

Boston College did just that.  Well, sort of.

Kickoff

The Boston College football team had a strong 2007 season, eventually going on to its first ever Atlantic Coast Conference (ACC) title game.  The game was set to take place on December 4, 2007 in Jacksonville, Florida.

Great news.  Except that the Eagles clinched their spot only two weeks before the ACC Championship game.  BC had just two weeks to sell as many tickets as possible and ensure solid support for a game taking place 1,160 miles away.

They needed to drum up support from alumni and get fans to travel down . And they needed to do it quickly and cost-effectively.

Nothing like the spoken word

Boston College used an automated voice-messaging solution to target more than 115,000 season ticket holders and alumni.

They had their star quarterback Matt Ryan record the message, explaining the historic event and the sense of urgency to participate – and then offered up a call to action.  Even if fans couldn’t come, they asked them to donate their tickets to a Jacksonville-area charity to help fill the stands.

The response was immediate, with ticket sales flying through the roof on the day of and the day following the message’s release. In all, close to 5,000 tickets were sold, with more than 400 purchased and given to charity.

In the end, Boston College was able to ensure it was well represented in Florida and managed to profit $200,000 from a campaign that cost $10,000 to launch.

The phone is alive and well my friends – it’s just living a different existence in your marketing mix.  It’s extremely cost effective.  And it can work very well when delivering a timely message.

Have a particularly important piece of news to deliver?  A once in a lifetime sale?  A special event you don’t want people to miss?

Use voice.  But don’t use it too often.  Like endless jabbering from the person seated next to you on the plane – it loses its charm quickly. Then it’s just annoying.

[case study was reported on Marketingprofs.com]

Posted by: Steve Banis

 

The Phone Still Works

April 26, 2009

Content is king in any campaign. Then it needs various pathways to flow to the target.

One pathway that’s gotten a bad rap is the telephone. Too many pushy telemarketers have spoiled the bunch for those who want to use the phone in a responsible way as part of their communication mix.

For B2B targets, all’s still fair game. For B2C customers, the Do Not Call registry and the CAN-SPAM act have done a fairly good job of closing down that channel.

There is, however, a growing technique for integrating voice into your campaigns. And it is proving to be extremely effective even with individual consumers.

Recent case studies are showing that a relatively small investment can yield big returns.

Boston College achieved a 2000% return by generating a $200,000 profit from a $10,000 investment in a voice-based campaign.

Next week, I’ll tell you how they did it.

Posted by: Steve Banis

 

Survive and Advance

March 22, 2009

I don’t know if you’re a college basketball fan, but in case you missed it (hard to do); it’s March Madness time again.

Each year as the calendar points towards spring, a field of 65 college basketball teams square off to determine the national champion. And every game is sudden death.  Win and you play on, lose and you’re season is over.

It’s a fine, if dramatic, metaphor for what you face every day. Jim Valvano, the late coach of North Carolina State coined the phrase “survive and advance.”

No kidding.

Where are they coming from?

Even as some competitors are shutting their doors, others are still advancing. And some of the survivors aren’t the same competition you’re used to seeing.

The CEO of Dollar Stores recently said that he is seeing customers in his stores that were once regulars at Target. Former Macy’s customers are now helping to create big sales at WalMart.

Seen the deals at Caribbean resorts lately? They’re cheap. That’s because Wall Street execs are staying home or loading up the Volvo station wagon and crying their way to the dude ranch. It’s creating business for more cost-effective lodging such as owner rentals.

And that doesn’t count new competitors from around the globe showing up on customers’ desktops.

Even as the field of traditional competitors narrows, the overall competitive landscape is actually getting more crowded. That puts a premium on focus.

Among many other factors, advancing depends on your ability to:

  1. protect and defend your customer base,
  2. finely tune your target prospects and your marketing message,
  3. choose your allies wisely. It’s never been more important because the margin for error has narrowed.

Focus on your sales funnel. Recognize that the number of steps to completing a sale have increased…and take longer.  Have a plan:

  • - Define specific target names and locations: attack your competitors
    - Fine tune your relevant message and call to action
    - Be ready to “welcome” inquiries
    - Use a series of messages to move them closer to a meeting or visit
    - Make targets an offer and ask them to take action
    - Ask for the business and be ready to adjust
    - Make a client – and nurture the rest
    - Continue to communicate to your clients
    - Thank clients for their loyalty and ask for referrals

Keep focused. Keep moving forward. Survive and advance.