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- 4. February 2012: What DO You Want From Your Business?
- 4. February 2012: Fact: Search Engine Optimization Isn't Advertising
- 4. February 2012: Do Video? Yes, You Can, Part II
- 3. February 2012: A Blogging Secret
- 1. February 2012: Do Video? Yes, You Can, Part I
- 15. December 2011: Bogus Internet Ad Sales - Don't Be Fooled, Pt. 1
- 2. November 2011: Sometimes Customers Need to Get Lost
- 26. October 2011: So, you think you can write?
- 21. October 2011: Who's smarter? Your customers or employees?
- 12. September 2011: Social Media & Your Brand - It's What THEY Say
Archive for the business plan Category
What DO You Want From Your Business?
4. February 2012 by Frank Goad.
A friend of mine is the manager of a local retail establishment. He’s a very smart man with a distinguished if not unusual career. He’s amazed me at times with words of wisdom that make any thought process stop dead in its tracks and listen He’s also very frustrated because the owners don’t seem very anxious to make the place a best in its class establishment. It’s sad because, if they would just step out of the way and give him the reins, they would make so much more money.
Most folks can run a retail business. It requires some attention to detail, some organizational skills and some ability to deal with the public. Notice that I used “some” a lot, and that’s because if you’re in a good location with reasonable traffic, you can keep the doors open and lights on without being a primo manager.
My wish for him is that a distant relative would die and leave him the money to buy the place. He’s got drive, intelligence and is champing at the bit to really turn a profit, make it a busy place and build a real brand. If he could buy it, there’s no doubt it would see 30% sales gains in the first six months. Yet, the owners treat it kind of like a hobby business. They’re not too particular about the little things and seem more determined to get pocket change from the place. They seem to have overlooked Frank’s Business Rule #1: When it comes to how the public views you, everything matters.
Posted in Frank Goad, Frank Communications, FrankyGee3, blogs, blogging, delight, Branding, "The Frankifesto", Frank, business plan, business, building business, Marketing | Print | No Comments »
The Formula for Delighted Customers
28. December 2010 by Frank Goad.
Definition: “Delight - To take or give great pleasure or joy.” You often hear companies being told to “Delight your customers.” You definitely should do that, but let’s go over the definition of “delight” as it is a bit overblown in some of the things I’ve been reading, especially in light of the definition I use and how it relates to brands and marketing.
Going over the top with offers and special deals is for the 20% of your customers in the 80/20 rule (80% of your business comes from 20% of your customers). Most folks don’t have the time or resources to lavish great attention on every customer, much less get employees to really care enough to do it (the last paragraph address this).
My personal definition of a brand is, “A brand is a promise of repeated delightful experiences based on a history of delightful experiences.” Given that the customer owns your brand, and you or your clients do not, it’s up to them to decide what’s delightful or not.
There are so many times when we go to see, buy or do something and the experience falls short of what is promised in ads. Consistently good results for our investment of time and/or money makes us happy - delighted, if you will - because being disappointed is so common. Getting what we feel is fair value for our time and money is delightful.
Customers should be delighted every time they do business with you or your client; i.e., they should be quite pleased or feel a bit of joy. Coke and McDonald’s delight customers with every purchase. How so? Well, water, bread and lunch meat will satisfy hunger and thirst but, on a hot, dusty, day, a cold Coke is (say it with me) delightful. When you’re pressed for time, a hot, grilled chicken sandwich on a whole grain bun with lettuce, tomato and mayo is a damn sight better than a pack of cheese crackers from a gas station, especially if an ice cold Coke is served with it. If I’m really, really hungry and an hour from anywhere that sells food, finding a pack of cheese crackers is - you guessed it - delightful. I’m not overjoyed by my discovery (unless it’s my first meal in days), but I am delighted.
Let’s say I own a junk yard and a person calls me looking for a part after calling five other yards. I have the part and they’re delighted, and I was simply doing was my job. That puts me at the top of their list for next time. When they call again - and I’ll likely be the first call after being their part savior before - and I don’t have the part, I offer to locate it for them, and that makes them happy. To go one further (and keep the business), I offer to get it sent to my store, they’re delighted and, again, I’m just doing what I do. Even junk yards can delight customers.
I’m delighted when:
• I can help my clients set higher marketing and advertising standards
• We educate all their employees about the value and importance of those standards and how their contributions help everyone (”A rising tide lifts all boats”)
• We put systems and rewards in place to ensure that measurable goals are achieved and perpetuated
• They make excellent internal and external communications about their products, services and company the rule
Why am I delighted and not overjoyed? Because what I described is my job as a marketer. I’m overjoyed when they come back and have added ten, twenty or thirty percent to what I set out. Now, THAT’S some serious, overwhelming, tear-jerking joy!
Posted in retail, Branding, building business, Success, delight, FrankyGee3, Frank Goad, Frank Communications, business relationships, business, advertisers, responsibilities, Advertising, Frank, "The Frankifesto", training, business plan, Marketing | Print | No Comments »
Excellent Words to Live or Run Your Company By - The Spirit of Dave Thomas
24. December 2010 by Frank Goad.
Mission statements should be living documents, and Wendy’s is one of the best I’ve ever seen. A person could adopt theirs as their own and do well in life. Mission statements are important and, when done thoughtfully and thoroughly, can keep a company moving forward. I like Wendy’s in particular because it’s concise and uses easily understandable language. Nothing fancy, just good, old-fashioned operating principles that point straight ahead.
While many mission statements are full of lofty, often obtuse language, the one below is simple and unmistakable. The one we had at Lexmark was over-the-top and laden with too many points. A mission statement’s main points should be easily remembered and get to the very deepest core of what is important. It should serve as a guiding light to everyone in the organization, and to your customers as an assurance that your goal is to take care of them.
Wendy’s Mission Statement, “What We Believe,” is a list of simple, easy-to-remember guidelines that serve as an internal mission statement and an external customer service goal. Any company or person that follows this mission statement will have friends and customers for life.
* QUALITY IS OUR RECIPE - We don’t cut corners on our products, service, or employees.
* TREAT EVERYONE WITH RESPECT - Be genuine and kind and lend each other a helping hand.
* DO THE RIGHT THING - Honesty and integrity are rules we live by.
* PROFIT MEANS GROWTH - Teamwork is the key to our success.
* GIVE BACK - Make your community better every day.
Posted in retail, building business, leadership, Frank Communications, FrankyGee3, Frank Goad, business relationships, relationships, Frank, responsibilities, "The Frankifesto", business plan, business, Advertising | Print | No Comments »
Do customers dwell with you?
26. October 2010 by Frank Goad.
“Dwell time” is an oft overlooked but highly valuable time your customer spends considering your company. It’s defined as the time a customer spends with you in the absence of buying or being assisted with a sale. It’s when they’re browsing, waiting to talk with someone or simply killing time because someone else is involved with you or your personnel.
Believe it or not, you want to increase your customer’s dwell time, but you want to guide them in it. You have the power to make it enjoyable and entertaining with some attention to detail. For instance, do you have a showroom? Is it clean and well organized? Is the lighting appropriate for the displays? Are there comfortable chairs? Can they get a drink of water or a cup of coffee? Are the merchandise displays laid out in a way that encourages customers to leisurely browse? Does it provide a positive sensory experience?
If you don’t have a showroom, then you must make the main contact point as friendly, inviting and engaging as possible. If it’s a brochure, is it small and packed tightly to save money? If so, you probably cost yourself more money than you could ever save because, if customers won’t read it, you don’t get sales. The most inviting print pieces have plenty of open space (white space, negative space, etc.). If a page is too busy or crowded, the reader’s brain quickly passes it by because it causes mental or emotional confusion or conflict. Packing as much as possible in to persuade them can actually do the opposite. In design terms, less is more.
Is their first contact a product sample? This is where the “first impressions last” rule must be considered. If possible, make a sample its own little presentation. Rather than have only the product be what they see, use a printed bag or box with a picture, the name and a some basic information on the back – keep it very simple. This does two things: A. It makes it seem like a present (and not just extra stock), plus it’s a bit like unwrapping one, and; B. It helps ensure that they remember your product’s name and image. Yes, this does cost more, but the emotional experience helps build your brand more strongly in their mind and gets them to dwell on your product longer. When you might have only one shot and you can’t be there to talk about it, it better be good.
If you have a showroom, look at the lighting. The human eye is drawn to the brightest thing within its field of vision. You want display areas well lit, and you also want to have the room light lower than the highlights on your displays. This creates attractive zones for the eyes, highlights the products and helps the customer’s brain focus on what you want them to see. Again, if your showroom is crowded, simplify it because people like a feeling of space and room (Americans are particularly needful of this).
Take the way Apple does its stores. They are somewhat Spartan, clean-looking and they use spotlights to bring out their electronics – you almost have to look at their products if only because there are so few distractions. How do you know it works? They can barely keep product in their stores – do you have that problem? Another example is large retail chains like Macy’s. Look at their ceilings and notice how many spotlights they use. They know that lighting leads people where they want them to go by creating attractive visual zones.
If you have e-commerce on your site, it’s a natural tendency to try to tell folks everything all at once, but that’s not how we learn, or buy. If they linger on the site, they are more likely to buy because they’ve had a pleasant experience. So, keep your home page uncluttered and provide lots of navigation clues so that they can always tell where they are and how they got there - the first sign of confusion means they’ll likely bolt. Do usability testing on your site (or as you’re building it – don’t wait until the end as that’s too late) by putting a customer in a chair, put a video camera on the screen and see where they go. Are they going where you want them to? Where do they linger? After you’ve done a few of these, you’ll have a very good idea whether or not your design is working.
So, dwell for a time on your spaces and see where you would dwell.
Frank Goad is president of Frank Communications, a marketing and advertising consulting firm specializing in helping small- and medium-sized businesses grow and prosper. www.frankcomlex.com, 859-619-5050
Posted in Displays, Frank Communications, Frank Goad, FrankyGee3, retail, Branding, Frank, business plan, business relationships, building business, Advertising | Print | No Comments »
Want More Customers? Reach Out.
25. May 2010 by Frank Goad.
This post is about your 80/20 and something much more valuable in your life. Most of you know the old saw about 80% of your business coming from 20% of your customers or clients. This is about your having a larger, more loyal 20% and getting benefits worth far more than the coins they give you.
A Lexington millionaire I knew (who, despite being twenty years my senior, often kicked my butt on the racquetball court) said he became rich by spending an hour a day doing one thing: Calling his best customers regularly just to say “Hi.” He explained that, “People do business with folks they know, like and trust. Without building a relationship, they can’t know, like or trust you. It’s up to you to reach out to them. After all, the most popular people are the ones who go out of their way to be friendly. That’s why they’re popular - they make everyone else feel genuinely important.”
He said to avoid long calls to show respect for their time, and that leaving a message just to say “Hello” was often just as beneficial. After you’ve called a few times, they’ll welcome your call because they’ll know you only want to check in. Some will look forward to the call the way we look forward to a birthday card (and you can collect birth dates, too, as you call).
Creating friendships is a natural part of business that is often overlooked. Regularly reaching out as a friend to the people who are your best customers benefits both sides of the equation; it’s about win-win, so show the 20% some love. You don’t have to send gifts, just call to say “Hi,” ask about their family and so on. The more you do this the better you know them, and you’ll become familiar with folks you never expected to become friends with. For those folks who aren’t in your 20%, maybe it’s because they have no reason to think of you; call and give them one.
To be effective and to show folks you are genuinely interested in them requires consistency. One method to keep on track with this year-after-year is to take your address book (physical or electronic) and create a spreadsheet with everyone on it. Then divide them up into twelve groups to call in twelve months. Call them some time that month, but don’t wait ’til month’s end because most folks are busy then. Better still, call at least twice a year.
What to say when you call? Tell them about something cool that’s coming up before anyone else knows. Ask how you can help without asking for a sale, or call about an event they might be interested in (a charity fun run/walk, a bake sale, a Big Lebowski bowling event, etc.). Maybe asking for an opinion (vs. professional advice) on something you’re involved with outside their specialty; this avoids looking like you’re trying to poach free service. Maybe you meet for coffee or rendezvous at a meeting or event. Whatever works for you.
You can keep it strictly to business, too. Check on their account or orders or whatever as a pretense to call. Or, call and explain that you do this occasionally just to see how your business is doing in their eyes (you should do that in any case). If they haven’t ordered in awhile, calling just to say “Hi” is even more important. Sure, Facebook is cool and easy, but one-to-one contact between two humans is much more powerful than a poke or a wall post. Do this in addition to social media to multiply its effect and bridge the time between calls.
If you do this year-in and year-out, you’ll get a lot more than sales. You’ll get the satisfaction of helping someone else and the one thing that makes life its richest: Friends.
Posted in business relationships, relationships, business, building business, Frank Communications, FrankyGee3, Frank Goad, business plan, "The Frankifesto", blessings, Advertising, Frank, PR, The Long Tail, Public relations, welcome | Print | No Comments »
Doing Good and Doing Well - Here’s an Idea
24. May 2010 by Frank Goad.
If you are in business for yourself or own a business, you have to be promoting yourself all the time. There is increasing competition for an ever-shrinking pool of business. It’s tougher today than a decade ago if for no other reason than advertising and marketing is so fractured. As I’ve written before, these days, it comes down to time or money. That is, if you don’t have the money to do a big, sustained advertising campaign, then you have to invest the time to do it yourself.
Advertising today is a lot like megaphones:
• If you have a lot of money, you can buy a PA system and hire someone to run it for you. You can even hire someone to do the talking.
• If you have some money you can buy a large electronic megaphone that even has a horn or siren to get folks attention.
• If you don’t have any budget, you pick up the nearest thing that looks like a cheerleader’s megaphone and start running around and yelling. Hello Facebook, blogs, meetings, etc.
Most of us fall into category two or three. That means we have to find publicity wherever we can. Want to get some attention from the media and burnish your reputation? Do something for the community. Don’t just run out and have a bake sale - have a cause you believe in first. In this day and time, many agencies are going wanting due to thin budgets and thinner staffs and will welcome any help they can get.
No, this isn’t some cynical operation that you do because it’s good for business – you do it because people need help. Still, the glow from a charitable act will net you good will and you’ll make some new friends. Friends are about the most important asset for any business. Beyond that, will it make a lasting difference in one person’s life? Yes? Then that’s all you need to know.
Pick something you feel strongly about like cancer, autism, the environment, education, the arts, women’s rights, animal welfare, inner-city programs, youth in music (one of my favorites) or whatever pulls strongly at your heart. Write a mission statement that says what you want from the event, why you’re doing it, who it will help and how much you think it might help and how. Update the mission statement often as you’ll find new things as you go along – the ending will likely be different and better than you planned.
From this planning, you’ll have an idea of what you can raise or do for the event. Is the goal to raise money? Raise awareness? Get material or goods (e.g., pet food for the Humane Society)? The sponsoring agency will give you guidance as to what is most helpful. Plug this into your mission statement.
Once you’ve written down your goals and plans, then go to an organization who is usually attached to these causes (if there is one), share what you’ve written and see what kind of help they’ll give you. Try to find a co-sponsor who’ll help, too, before you go; many hands make for light(er) work.
Next, plan your event and pick a theme. Get help and figure what it’s going to cost, where to have it, etc. This is where an event planner comes in handy. You’ll have to think about everything from sanitation to seltzer water. Whatever the event, you’ll likely need at least a few months to plan and execute.
What event should you plan? That’s up to you and your planner. Stage a fishing or golf tournament, a picnic or barbecue, a pool party, cookware event, a gourmet hors d’oeuvres party, a wine tasting - something that helps folks walk away happy (and not just because of the wine). Since it will likely start with friends, you know what they like, so plan something you’re familiar with and it will be easier for you.
Then, build your list of people to invite and determine how many you realistically think will come. If you’re not sure, call a bunch of friends and ask them to see if they’d be interested. You might get a volunteer or two calling their friends. Check with the organization you’re doing it for as they’ll likely have an idea, too. If all your friends invite their friends, and their friends invite only half their friends, that could be a good number.
Then go back to your mission statement and use that to create your publicity plans and your press releases. It will inform everything and everyone about why you’re embarking on this madness. Try to find one person in the media (reporter, DJ, public relations agent, etc.) and get their advice and names of helpful folks. The agency you spoke with can usually help you with that.
After that, when you’re about three months out, send press releases out to all the media you can think of and follow up regularly with with new items (don’t rehash the old - make it new). Again, work with the sponsoring agency (if there is one involved) and get help on publicity from them - they might be able to accomplish many times what you can. Keep calling and get help arranging for any publicity you can find. There’s no shame in attaching your company’s name and your co-sponsor’s to this whole thing. (Alltech has their name all over WEG, and rightfully so, thank you Dr. Lyons.)
This is just a snapshot and, realistically, doing any public event is tough. It doesn’t have to be something with thousands of folks. Sometimes small events with a unique or outrageous flavor get more attention - be creative.
If you handle it well the rewards you’ll feel as an individual will be huge (food for the soul), the benefit to the community will be greater and, who knows, you could start an annual event that becomes legendary. You’ve heard of the Kentucky Derby, right?
Want some more ideas? Need help with marketing or advertising? Call me or use the contact form at the bottom of the page at the Frank Communications website.
Posted in delight, Success, Character, Branding, creativity, Frank Communications, Social Media, FrankyGee3, Frank Goad, building business, business relationships, PR, Frank, blessings, responsibilities, Public relations, "The Frankifesto", relationships, business, business plan, Marketing | Print | 1 Comment »
Manifesto First, Business Plan Next
8. May 2010 by Frank Goad.
Before I started my business, I wrote Frank’s Business Manifesto (a.k.a. the Frankifesto). Written before my business plan, it is a statement of my thinking on the business and how I would run it. Without this, the business plan could have belonged to anyone. The manifesto informed the human side of my need to work for myself and created a behavioral and ethical standard that guides my dealings with friends and clients. It helped ensure that my heart, head and will were all in line together.
I’m sharing this in the hope that others will take the time to create one for themselves and refer to it often. This is a personal statement of what’s important in your work and life. If mine suits you, please, help yourself. Short or long, having one is akin to giving yourself a compass to navigate your career.
- I believe I have creative talents and business skills sufficient to make a good living.
- I will carefully choose trusted advisers because there are many who are well-meaning but blessed with far more opinions than knowledge or wisdom.
- Despite the admonitions and warnings of others, even those who mean well, I will rely on my trusted advisers for feedback and honest criticism. This helps insulate me from those whose intentions are not favorable or honorable.
- I will seek advice knowing that everyone needs help sometimes, and not asking is a larger sign of weakness.
- I will also seek help because going it alone can be frustrating and unfruitful, and a little encouragement is priceless.
- I have the requisite intelligence to understand the advice I seek and to apply it accordingly.
- To be truly successful, I must help others succeed as well. This is my prime directive.
- I have the requisite personal skills to network effectively and develop mutually beneficial relationships.
- To be truly happy in my career, and in reflection on previous negative career choices, I will be true to those vocations that bring me joy.
- By being joyful in my work, I will serve others well by finding ways to share that joy with them.
- I am fortunate in that I have talent in several areas (as do most people), and will utilize them all to be useful to others and myself.
- In keeping with today’s markets and the rapid pace of change, I will do two things: A. Combine my skills to take advantage of a wider range of opportunities (in keeping with my self description of being “A generalist in an age of specialists,”), and; B. Always consider ways to help others by utilizing whatever skills I can bring to bear (see no. 7).
- I will be honest with myself and all those I deal with, else I will become irrelevant and perhaps shunned – dishonesty is not an option.
- In the face of lean times, adversity and downright bad luck, I will remain steadfast knowing that up and down cycles are inevitable.
- During a down cycle I will display courage – if only to myself – because strength comes from within and self-employment is fraught with challenges.
- I will give this endeavor my very best effort. Should my successes be insufficient to allow me to continue my self-employment, I will accept this with grace and dignity because I hereby acknowledge from the beginning that many can not survive on their own despite their best efforts; sometimes, things happen.
- Whether successful or not, I will have succeeded in pursuing a worthy goal and will have displayed significant courage if only because I dared to strike out on my own, something far more people have neither the courage, desire or vision to do.
- I will always remember that not having tried would be the biggest failure of all.
This became a bit of a litmus test: Was I really ready to work for myself, or did I need the safety and security of an employer, a regular check and benefits? The answer became obvious and now, Frank Communications is beginning to hum. The first three months were tough – doubts nagged me and seeing my bank account drift down made me quite uneasy at times. Now, the months of hard work are showing returns and I arise each morning excited about the day to come. It’s a lot of work, but the satisfaction of building my enterprise, creating new business relationships and having the opportunity to make a difference in people’s lives is a huge return on my investment of time and energy.
Posted in self-employment, business plan, Frank Communications, Frank Goad, FrankyGee3, "The Frankifesto", manifesto, Advertising, general, responsibilities, blessings, Frank, Uncategorized | Print | No Comments »