Word Marketing Blog

Old Habits Resurrected

Planning events. That's what does it for me. It's that thing that's just... in me. The checklists, phone calls, scheduling, decor... seeing it all come together and then looking on, watching everyone enjoying themselves. I get immense satisfaction from it.

Planning events is not something I decided to do for a career, although every now and then, it's energizing to have a project to work on.

Most of us have "a thing." It's a "thing" that we really enjoy doing, but for whatever reason, is different than what we "do" in our careers. Some of us are lucky enough to have a part of our "thing" incorporated into our career, and there are even a few out there that get to "do" their "thing" for a living. They are the truly blessed.

Now I'm not sayng I don't enjoy what I do every day, or that you don't enjoy what you do every day. Hopefully, you enjoy your business very much, because that plays a big role in you being good at it. But I challenge you to reach deep down and think about that "thing" you used to love doing that you simply haven't had time or opportunity for as of late. Once you identify it, give yourself a Christmas gift, and make time to do it. It will provide you immense joy, inspiration and invigoration.

It's about to be a brand new year. Start a new habit... of something old.

On a similar note, my good friend and colleague Jason Griffin spent three years as the morning show host of The Eagle 93.9. It's been two years since Jason's last radio show, and this Tuesday he will once again take the mic as guest host of "The Morning Meeting" on KFRU. I'm willing to bet that if you take time to listen, you'll discover what it is that energizes Mr. Griffin. And you'll probably really enjoyy it, too.

Synergy in 2009

While it's true that the current economic situation is causing consumers to be more frugal, that doesn't mean people will stop purchasing what they need.

2009 will likely see fewer luxury purchases, with a trend of maintaining the status quo. But consumers will still pay for items or services they perceive they need, especially if they believe there is a high level of quality.

So what does that mean for your business? It means those businesses that ensure their products or services are synergetic with their customers will find sustainability and possibly even growth during this economic downturn.

Those in advertising have been saying it for years - talk to the customer in the language of the customer about what's most important to the customer. They don't care that your product has "award-winning safety," but they will care that your product has been deemed secure for their family. They don't care that you have "been in business for 25 years," but they will care that you have stability to protect their purchase. And they don't care if your product is at "an all time lowest price," but they will care if the product does what it's supposed to do and lasts.

Listening to your customer has never been more important.  Provide quality products that are of need to them, and you just may find that your business can grow where others cannot.

Line of the Day

I have to share with you the line of the day. It came in the very first phone call I recieved today.

"When they start talking, they open their mouth and tinkertoys fall out"

Hilarious!

Have a great Monday.

Economic Indicators wk ending 12-5-08

Inflation: 3.66%
GDP Growth: -0.51%
Unemployment: 6.7%
Gold: $749.00 per oz
Oil: $43.67 per barrel
Prime Rate: 4.0%
Dow: 8635.42

Good Leaders Assemble Good Teams

No matter who you voted for, I suggest that all would agree Senator McCain conceded with an honor and grace as genuine as any speech by any candidate in the history of politics. His urging for all those who voted for him to get behind and support President-Elect Obama was, in my opinion, characteristic of a true leader.

When it comes to leading your company, the same character is imperative of your executive team. Your top people should be encouraged to discuss and debate an important decision whenever possible. But once a decision is made, everyone must adopt and rally behind that decision. It should be taken into their hearts, made a part of their passion and carried down to the front line with enthusiasm.

This type of leadership is essential to building a strong company. Good leaders will cultivate strong, bright and opinionated executive members who have the strength to fight for their cause, the humility to accept defeat and the loyalty to move forward with fervor. Have you gotten your team assembled?  

Economic Indicators 12-4-08

Here are the economic indicators nationally for today:

Inflation: 3.66%
GDP Growth: -0.51%
Unemployment: 6.5%
Gold Price: $ 766.25 oz
Oil Price: $ 46.79 per barrel
Prime Lending Rate:  4.0%
Dow: 8591.69

Black Friday Online Statistics

The Center for Media Research has released some statistics regarding online sales for last week's Black Friday holiday shopping day.

2008 Holiday Season To Date vs. Equivalent Shopping Days in 2007 Online Retail Spending (Total U.S. Home/Work/University Locations)
?Holiday Season to Date	Millions ($)
	2007	2008	Pct Change
November 1 - 28	$10,839	$10,410	-4%
November 27 (Thanksgiving Day)	$272	$288	6%
November 28 ("Black Friday")	$531	$534	1%
Source: comScore, Inc., November 2008

Black Friday Online Retail Spending by Time of Day (Total U.S. Home/Work/University Locations)
Black Friday Time of Day	Share of Dollars Spent
12-4 AM	5.5%
4-8 AM	10.9%
8 AM - 12 PM	23.1%
12-4 PM	24.2%
4-8 PM	17.2%
8 PM - 12 AM	19.1%
Source: comScore, Inc., November 2008

The Monday after Thanksgiving, popularly known as "Cyber Monday," represents the first significant spike in online spending activity for the holiday season. The phenomenon results from Cyber Monday being the first working day following the Thanksgiving holiday and the fact that purchases from work still account for approximately half of all e-commerce spending.

 Cyber Monday has historically proved to be an accurate bellwether for the overall performance of the online holiday shopping season, says the comScore report. While the year-over-year growth rates for individual online spending days vary quite significantly throughout the season, during the past few years Cyber Monday has been within a few percentage points of the final holiday season growth rate.

Cyber Monday Growth Rates Non-Travel (Retail) Spending 2005-2007 (Total U.S. - Home/Work/University Locations)
	Growth Rate vs. Prior Year
	Cyber Monday	Full Holiday Season
2005	26%	25%
2006	26%	26%
2007	21%	19%
Source: comScore, Inc., November 2008

Holiday Shopping Cost Cutting Plans (2008 Total U.S.Home/Work/University Locations)
	Percent of Respondents
General Shopping
Buying fewer gifts	47%
Buying less expensive gifts	46%
Using coupons I receive from my newspaper or via mail	37%
Spending more time searching for deals in stores	32%
Shopping early in the season to take advantage of sales and or discounts	22%
Shopping later in the season to take advantage of price reductions	19%
Online Shopping
Shopping online to take advantage of free shipping, no tax, etc.	39%
Spending more time researching deals online	37%
Using online coupons or coupons I receive via email	31%
Using comparison shopping engines to find the best deals	25%
Shop online auction sites	21%
Shop online classifieds	8%
Using deal of the day sites	8%
Source: comScore, Inc., Holiday Shopping Survey, November 21-24,  2008

And this year the economic slowdown will have toy manufacturers and retailers in a bit of a panic according to the results from The Harris Poll survey of 2,303 adults, surveyed online between October 20 and 27, 2008.

• 47% of Americans say they will purchase toys as gifts this holiday season while 41% say they will not
• Among households with children, 71% will purchase toys this holiday season, but 21% say they will not
• Among those who will purchase toys this holiday season, 44% say the amount they will spend for these purchases will be less than last year
• 36% of toy purchasers say they will spend about the same as last year for toys
• Looking at toy purchases by income level, 52% of those who will purchase toys and have a household income of less than $35,000, 50% between $35,000 and $49,999, and 51% between $50,000 and $74,999 say the amount they will spend this year will be less than last year.
• When it comes to what people will be buying, 47% will be purchasing children's books, while 38% will purchase games for consoles, and about 1/3 will purchase board games, arts and crafts, and dolls.
• Women are more likely to purchase children's books (52% vs. 40%) and arts and crafts (37% vs. 28%). Men, on the other hand, are more likely to purchase sports equipment (31% vs. 15%) and handheld electronic games (30% vs. 21%)

Types Of Toys To Be Purchased This Year Year (% of Respondents who will purchase toys)
	% Total Respondents
Children's books	47%
Games for consoles	38
Board games	33
Arts and crafts	33
Dolls	32
Handheld electronic games	25
Building blocks and bricks	23
Sports equipment	22
Game consoles	16
Something else	28
Not sure	13
Source: Harris Poll, November 2008 (Multiple Responses Allowed)