Word Marketing Blog

Success Today

Take time today to write down you full definition of success. Avoid using words like "lots of money" or other vague terms. If you don't know specifically what you want, how will you know when you get there? You must know for certain when you reach your definition of success.

Then ask yourself "why"? Why do I want this? Journal it out. Have a brain dump. Put it all down.

Avoid guilt for the things you desire. Feel free to share, would love to hear yours!

Questions for the New Economy

For the last several months, I have been one of the voices crying in the wilderness about this view of the economy.

It's not down, it just is.

People tend to take the economy of 03-06 and compare to what is going on today and say the economy is down. What about compared to 01-03? One of the best clarifying questions you can ask is:compared to what? What context are you referring to? The current state of reality is:where the economy is today and how do we work in it? Some folks are waiting for the economy of 03-06 "to come back" because that is the state of reality they are stuck in. They are stuck in transition between what was and what is.

Now, of course, those who are independently wealthy or managed their businesses super wisely during the last economic cycle can afford to make minimal changes. My opinion is that is not the majority. Most do not have the time to wait until the rain stops. We have to learn to work in the rain. In other words, adjust to the current reality. In order to ease our psyche, we might as well refer to this current state as "new", even though it's been in this cycle since 07.

Harvard Business School has some questions for the new economy we have adapted into our process for helping customers design strategies for the new economy. I thought I'd share them with you.

The new economy doesn't require you to just try harder, sell more, or work longer hours. It requires you to change the way you work.

Ask yourself these three questions to assess the current situation and adapt your game to the changed conditions:

1. What's the situation? Remember that in this new reality in which big businesses are failing, trust, reliability and relationships are the new competitive advantages.
2. Who else is involved? Consider your customers, prospects, and employees and what they want and need in this new economy.
3. How can you help? Determine what you have to offer that is unique — it may be innovative products, a differentiated pricing structure, or a new way of relating to customers and employees.

In Defense of Social Media

By Anna Lawrence:

Recently I read an article that deemed social media just another form of narcissism. While the article did shed light on how some might utilize the technology, I submit that anything - quite frankly everything - can be misused or simply extreme-itized.

In defense of social media, I would like to share what I am witnessing as many practical, and profitable, uses.

• Eric says he's bad with names; he now uses Facebook to follow up on potential clients and prospects - adding more "face time" as well as some personality insights

• Kat uses Facebook to build relationships with new friends, which has lead to several new clients

• Troy uses Facebook to research potential clients, helping him to establish rapport quicker in initial meetings

• Kyle uses Twitter to promote weekly specials to his loyal followers, thus improving his customer appreciation factor

• Derrik uses Twitter to send daily industry tips to current and potential clients - talk about top of mind

• And I'm using Facebook to recycle this blog - just another way to market myself and my company

Don't disregard social media as simply a tool for narcissists or something the "kids" use to intermingle. If you'd like to know more about how it could help your business, we can help.

Memorial Day Driving Defensively

The holiday weekend is here and despite the rising costs of fuel, there will still be lots of people on the highways. Traveling to see family, going camping or just out for a drive to enjoy the weather.

When I was growing up, there used to be a famous public service campaign that stated "Drive defensively, watch out for the other guy". There's also a running joke in my house from a caring albeit comical comment I made to Ann Marie as she was leaving the house once. I said "drive carefully", to which she responded "why do you always tell me to be careful?" to which I responded "it's not you I worry about, it's the other idiots out there".

My caring comment turned her toward a frown and a stare. Yes, I'm a communicator. Sheesh.

Driving is getting more dangerous. Why? Because of something called the cell phone. I have maintained for several years now that it is the thief of in-car radio listening. But let me also say this, it is what it is. Am I against cell phones? No. I love em and I play with mine more than I should. Cell phones also enable you to text. Texting has been the rage for a couple years now.  Texting is the father of Twitter. Short message bursts which are too short for a whole conversation but simply status updates to your life or business.

What does this have to do with driving? I'm also a consultant that markets and sells research. Vlingo has just released a new study on texting while driving.

Here are some results to their survey:

Despite an increasing number of state bans on driving while texting (DWT) and numerous reports of texting-related accidents, more than one-fourth (26%) of US mobile-phone users send and/or receive text messages while behind the wheel, finds a study from Vlingo.

Vlingo’s second annual Consumer Mobile Messaging Habits Report reveals that drivers in Tennessee are the worst offenders, with 42% of respondents from that state admitting to DWT. Arizona has the lowest percentage (18.8%), the study found.

As of May 2009, seven states and the District of Columbia have laws completely prohibiting any person from sending text messages while operating a vehicle. However, the research found no correlation between regulation and DWT activity:

• Two of the top five worst offender states (Tenn., N.J. Idaho, Okla., Alaska) have some form of DWT/mobile phone ban in place or pending (one of which is focused solely on young drivers).
• Of the five states with the best records (Ariz., Vt., R.I, Ohio, Mich.), only R.I. has a ban on DWT and it only applies to those under the age of 18.

Not surprisingly, the propensity for DWT varies by age. Almost 60% of the US’s youngest drivers (ages 16 – 19) admit to DWT as do 49% of those ages 20-29, Vlingo said.  The percentages get lower for older respondents (as do the percentages for texting in general), but 13% of people in their 50s still admit to DWT.

Among survey respondents there is general consensus that DWT should be legally banned. Just more than 83% of respondents think DWT should be illegal, while only 7% think DWT should be legal, and 10% are undecided. However, 40% favor making DWT legal with more safety precautions, such as voice-recognition technology that enables hands-free texting.

Texting on the Rise

The study also revealed that text messaging in general is on the rise across all age groups, with nearly 60% of mobile phone users now reporting they send or receive text messages. This compares with 54% in 2008. Again, percentages are highest among the youngest mobile users, though a significant portion of those in their 40s and 50s report texting as well:

• In 2008, 85% of teens and 20-somethings used texting.
• In 2009, 94% of teens and 87% of 20-somethings used texting.
• Among those in their 40s, usage jumped from 56% to 64.
• For those in their 50s use of texting jumped from 38% to 46%.

Texting is also gaining on sending/receiving calls as the primary use of mobile phones, with 35% of all respondents using their phones for texting more than for phone calls, the survey found. Almost half of respondents do both in equal numbers.

The volume of text messages has gone up as well across all age groups, although the 13-19-year-old age group remains the most active, sending an average of more than 500 texts per month.

High Costs, Tiny Keypads Barriers to Texting

Despite the popularity of mobile data services, 41% of survey respondents say they do not text, while 70% do not browse the web, and 73% do not use email on their mobile phones. The survey found that cost is one of the main reasons for non-adoption:

• 44% cite cost as a barrier to adopting text messaging
• 59% cite cost as a barrier to web browsing
• 53% cite cost as a reason for not adopting mobile email

Among those who do not text message, 27% cite the difficulty of typing on a tiny keyboard as a barrier, while 37% say it takes too much time to type. However, usability enhancements such as voice enablement would increase usage : 74% report that they would use voice enablement as a way to make text messaging easier.

About the research: The Vlingo Consumer Mobile Messaging Habits Report was fielded by independent panel research firm Toluna and responses were generated from a survey among 4,816 online opinion panel members (ages 13+) living in the continental US. The sample was matched to US Census proportions on gender, age and ethnicity and included approximately 100 respondents from each of the 48 contiguous US states. Respondents were also screened for mobile phone ownership and usage.

 

Hulu and web video

Video on the web continues to grow.

Requests from clients for You Tube channels continue to grow. Have you experienced Hulu yet? Hulu was launched as a joint venture from NBC Universal and Fox Entertainment Group and offers commercial-supported video content of shows from networks like Fox, NBA and other networks and studios.

ABC/Disney recently announced they would buy 27% of Hulu. Hulu had it's one year anniversary in March and has begun it's second year of operation. Hulu not only provides content on it's own site but also syndicates content to other providers such as AOL, Facebook, Yahoo and others.

Hulu's slogan: An evil plot to destroy the world. Wow...that will get some groups going!

Nielsen recently released some interesting data concerning Hulu:

Though YouTube continues to rank as the #1 video web brand in the US, with 5.5 billion total streams in April, Hulu ranks #2 as it continues on a steep growth trajectory, increasing 490% in total streams year-over-year (YoY), from 63.2 million in April 2008 to 373.3 million in April 2009, according to data from Nielsen Online.

This explosive growth makes Hulu the fastest growing brand among the top 10:

“Historically short form, clip-length video has ruled streaming on the web - as demonstrated by YouTube’s top spot month after month,” said Jon Gibs, VP, media & analytics, Nielsen Online. “Hulu, along with pure-play providers like Veoh and the TV
networks, has spent the past two years trying to convince consumers that the internet can be a good place to watch full length programming as well. April’s strong showings of Hulu, Fox, and ABC suggest that consumers are beginning to listen.”

Middle-Agers’ Viewing More Video

The Nielsen analysis also found that the time spent viewing per viewer in April 2009 has grown 29% in the past six months among people ages 35-49, making it the fastest growing group in terms of time spent viewing per viewer. This growth is 13 percentage points higher than the growth of time spent viewing per viewer for the overall market, which increased 16% over the same 6-month period, Nielsen said.

“Despite what many believe, it is not the young, tech-savvy, early-adopters who are attracted to long-form video,” said Gibs. “In fact, we see that it is the older crowd, viewers 35+, who gravitate toward long-form video, with sites like Hulu acting as a perfect example of this.”

In April 2009, three of the top five sites - Hulu, ABC.com and NBC.com - ranked by time spent viewing among people ages 35 to 49 were sites with long-form video. Compared with six months ago, only one of the top five was a long-form video viewing destination.

People age 35+ Drive 119% Hulu Increase

In their quest to view more long-form video, the middle-aged demographic is also helping to fuel a significant increase in time spent watching Hulu. Since its inception as a joint-venture between NBC and News Corp, Hulu has experienced meteoric growth in all aspects of video viewing, especially in time spent, Nielsen said.  Total time spent viewing increased 119% between November 2008 and April 2009.

As more people frequent Hulu and stream more videos, more time is also spent watching these videos, the research found. Time spent viewing per viewer increased 120%, from 147 minutes in November 2008 to 325 minutes in April 2009.

Unique viewers between ages 35 and 49 represented 30% of total Hulu viewers in April. They also spent at least 10% more time on the site than any other age group, with an average of 416 minutes spent viewing per viewer during the month.

During the past six months, overall time spent per viewer for those ages 35-49 has increased 154%.

About the metrics: Nielsen Online’s VideoCensus combines patented panel and census research methodologies to provide a count of viewing activity and engagement along with in-depth demographic reporting. Online video viewing is tracked according to video player, which can be used on site or embedded elsewhere on the Web. A unique viewer is defined by Nielsen as anyone who viewed a full episode, part of an episode or a program clip during the month. A stream is a program segment. VideoCensus measurement does not include video advertising.

Good Concept - Bad Planning

by Anna Lawrence:

KFC recently launched their new grilled chicken, and this week Oprah Winfrey issued a coupon for a free 2-piece meal. Seemingly a great technique to get people to try the new grilled chicken; but after going to a local KFC last night to redeem the meal, I'm not sure this won't hurt them more than it will help.

Personally, I have lost favor with KFC over the years. I have fond childhood memories of family picnics with buckets of KFC. Every now and then I get a hankering for that reminiscent yummy-ness and make a visit. Every time I am disappointed.

The restaurants, no matter which location I visit, always seem less than clean. The buffet always looks half-tended to, and the food - which has always been a guilty pleasure for me, always seems even less healthy due to the atmosphere of the restaurant. I am not a health-nut and enjoy fast food from many establishments, but I never leave KFC feeling good.

The coupons, in my opinion, only compounded an already poor assessment. Obviously, the employees were not prepared. The line for the free meals was long and slow, as only so many meals could be prepared at a time. The employees were scrambling to get orders filled, and henceforth did not have time to attend to the dining room or the buffet. Paying customers who showed up for the buffet complained that it was bare. Finding a clean table was close to impossible.The entire atmosphere tainted the experience of actually eating the food. And finally, the employees had instructions about what sides would be available with the offer that did not match up with the customers' understanding of the coupon, which caused additional strife.

So what can be learned?

First, when strategizing about marketing it's important to thoroughly think through all possible scenarios, especially what could go wrong. Second, don't devise a marketing event without first considering what the real impairment to the business might be, and then determine if this event will help or hinder the original impairment. And finally, make sure all employees are prepared for and confident in how the event will run.

Free samples have been a winning strategy for many restaurants in the past and likely will be again - for those businesses that properly prepare. Good marketing means thorough planning. Bad planning can make even a good concept ineffective.

The Future of Books

So...what is the future of printed books?

Seth Godin mentioned a week or so ago that most cities will be without a newspaper in the next five years. What is the future of books? The iPod has started the elimination of CDs on a shelf...DVRs have cut down on the amount of movies on a shelf...Amazon has the Kindle.

Saturday was such a beautiful day, I spent most of the afternoon on the porch in my camping chair with a nice big glass of water and my stack of books.

Books are big, they are bulky and they are old media.

What's your prediction? How long before a hard drive replaces my wonderfully bound information?

Mapping the Market Part Two

When mapping your market, it's very important that you gather as much competitive information as possible.

Take any published information that you may gather with a grain of salt. You have to make assumptions about the accuracy and quality of any published information that is used for your research. Most of the material will be published to provide information to customers, so it is unlikely to be misleading. However, some trade journals or web outlets may be operating on false assumptions.

I read in a journal just last week about a company and it was published that the annual revenue of the company is 80 million. I have some close ties to this company and without saying if the number is over or under, it's not very close.

Realistically, you can only use the latest, best and most reliable information available.

Some more questions to ask:

• How do your products compare with the competitive offerings?
• What about price?
• Distribution?
• Image and reputation?
• Service quality?

In short, what do your customers think about you? How do they feel about you?

Word of Mouth Light Speed

by Anna Lawrence:

So you already know that the degree to which a bad experience is shared is equal to the degree of the frustration experienced. And you also know that the number of times a good experience is shared is equal only to how often someone asks for a recommendation for that service or business. Obviously, the two are unbalanced. But have you thought about how the rations have changed in light of new media?

A friend of mine got really upset with a business she felt treated her unprofessionally. When she couldn;t get the response she was seeking, she posted the situation on Facebook. Now think - how many friends do you have on Facebook? And how many friends do they have?

Word of mouth has increased to light speed. Do whatever it takes to keep customers happy, and make the ratios work in your favor.

Mapping The Market

Competitive information helps you protect and grow your business.

Trying to keep one step ahead, or at least at the same pace as your direct competitors takes some time, thought and energy.

Some questions to consider:

• Are you going head-to-head or are you flanking them?
• What is the market share that is available for your product or service?
• How much of the market share do they have?
• How much of the market share do you have?
• How much of the market share is "at risk"?

A tool we use in evaluating these parameters is called The Strategic Square.

It's based on principles developed by Sun Tzu, noted Chinese general and then refined by German general Karl Von Clausewitz.

When applied, this tool enables you to map the market and answer the questions set forth above, then after analyzing the players and positions, the next possible moves in the market become clear. You are then able to make a decision based on time, money and risk.