The Reason: A marketers guide to engaging cliques

B2B marketing is just like B2C

I’m coming off the heels of a webinar for the National Alliance of Market Developers. My presentation focused on helping small business answer the question “why choose me?” To answer that question, I focused on “how to” do the following three things...

1. Attract attention
2. Convince people you’re the best choice
3. Motivate people to do something that benefits you

One of the questions at the end of my presentation was – “How do I apply these concepts if I’m selling to other businesses as opposed to consumers?” Here’s my answer – it’s the same thing. In both cases, you have to get the attention of a decision maker, convince them you’re the best choice, and then you have to motivate them to buy your stuff.

 

Marketing Webinar Next Thursday

 

 

 

 

 

 

When: Thursday, February 24th @ 7pm CST. Register here to listen

Why: Learn marketing techniques to help you answer the question "Why You?"

• Developing a strong marketing message
• Growing meaningful attention
• Growing your business by mastering the skills of: Convince, Convert, and Scale

 

 

 

Content Curator: 2nd week of February

Stuff I've found to be inspiring, engaging, thought provoking, or just simply practical.

1. Marketing Webinar on February 24th. First up, I'll be hosting a marketing webinar with the good folks at National Alliance of Market Developers (NAMD). The focus will be "Why Me?"  I'll provide tips on how to make your brand attractive to your audience. Register for the webinar here.

 

2. Strategic Planning Presentation. The folks over @ BBHNewYork laid out a nice template for strategic planners. My favorite slides are 12, 14, 18, 39, and 65. 

ideas idea ideas: strategy talk with MAS

My only comment and I'm guilty of this as well -- the notion that we solve problems. We don't. Solutions to problems occur when variables are fixed. Think cures for diseases or the answers to your kids' homework. Our clients operate in an environment where customers and competition are constantly in flux. It's arrogant to think there are simple solutions to these complex situations. In this environment, our job is to present options derived from a cost/benefit analysis to guide strategic decisions.

3. The New Black. My good friend Tru Pettigrew and the rest of the Alloy Access crew put together a cool video on the notion of "New Black". Click here for video.

 

 

Content Curator: 1st week of February

Here's my weekly wrap-up of stuff I've found to be inspiring, engaging, thought provoking, or just simply practical.

1. Ideas for Impact. Here's the challenge -- envision a business that can be consistently profitable in the New York City area, requiring no more than $1 million to break even, while creating meaningful employment opportunities for people who need a second chance in life. Prize: $25,000.  Click here to read more about Ideas for Impact. 

2. Segregation is Alive and Well in Social Media. Pepper Miller (someone I've gone to many times for advice) wrote this post for Ad Age. My 1st thought - we never leave behind the cliques from high school. The internet makes it easy to find and connect to other people with shared interests. My 2nd thought - someone needs to create a playbook outlining ethnic strategies in the digital space. My first chapter would be "Pledge Your Allegiance," where I describe the importance of being a member of the group. Outsiders never curate content of interest.  It’s impossible… they don’t have the cultural intelligence to code content to evoke emotion and interest.  However, insiders i.e. members of a group understand the pains, how to speak the language, and how to present information to satisfy unmet wants, needs, and desires to people like themselves because they have those same pains, speak the same language, and have the same wants, needs and desires. Read Pepper's post here.

3. Twin-conomics.  This post piqued my interest because I have twins.  I still stand by earlier assertions... marketers don't understand dads. Check out this Ad Age post here.

 

Content Curator 1.28.11

Back again with my weekly wrap-up of stuff I've found to be inspiring, engaging, thought-provoking, or just simply practical. Let's jump right in..

1. Apple and the Digital Wallet. Supposedly Apple's next-gen iPhones and iPads will have near-field communication chips, which means you'll be able to buy stuff by waving your phone in front of a receptor. [source: Business Insider]

2. Facebook Sponsored Stories. Most people think ads on facebook suck. They do. Facebook is looking to improve the effectiveness of their ads by turning the stuff we like into social currency. According to Ad Age... if Starbucks buys a "sponsored story" ad, the status of a user's friends who check into or "like" Starbucks will run twice: once in the user's news feed, and again as a paid ad for Starbucks. Though clearly marked with the words "sponsored story," the ad -- which will includes a user's name, just like the news feed -- is not optional for Facebook users.  [source: Advertising Age]

3. Philanthroper. A Groupon-type site for non-profits. The site features one non-profit a day where you can make donations as low as $1. I think the 2.0 version of this site should be a subscription service.  One where the Philanthroper brand plays curator for a group of people with similar interests (read: clique). People subscribe to the service for say $20 per month and the brand identifies and chooses worthwhile causes for us to support. Then periodically, Philanthroper should communicate to its subscribers the impact their philanthropy has had on the people touched by these organizations. Read more about Philanthroper here.

4. Foundation for Second Chances (FFSC). Let's talk about a non-profit that is near and dear to me. In the words of President Obama during his State of the Union, FFSC is doing big things. FFSC is in the midst of launching its new mentoring program that will exclusively serve children of prisoners in Los Angeles County.

Melissa Wyatt, the founder of FFSC has a story to tell, but she's too busy doing big things so I'll tell it for her. Melissa founded FFSC because she was frustrated with the lack of support and resources made available to the inner-city youth she came across everyday. Her vision is to provide opportunities for youth to break through and receive the encouragement, sense of community, and "second chances" they deserve. Read more about the mentoring program here. 

 

Content Curator 1.21.11

Happy New Year !!

I'd like to start the New Year with a return to my Content Curator section.  For my newer readers, this is a section highlighting content (articles, blogs, etc.) I've found to be inspiring, engaging, thought-provoking, or just simply practical. 

1. Time to Rethink Your Message: Now the Cart Belongs to Daddy [source: Ad Age]

Admittedly, I enjoyed this post because it speaks to one of my common complaints, marketers don't speak to dads. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2.  11 Actionable Trends for 2011 [source: Logic & Emotion blog]

I particularly like trend 2, Digital Curation, as it's the title of this section and we've been spending a bunch of time researching this same concept for the forthcoming book.

 

3. Why Facebook (and Others) Don't Want to Go Public [source: Harvardbusiness.org]

Interesting post about why facebook is in no hurry to IPO.

 

 

 

Have a Happy New Year

See you all in 2011.  There's a bunch of fun stuff in the works for me next year.  I can't wait for it to all unfold.

Getting over the hurdle

There are two main hurdles in the world of marketing. And, they both have to do with a Return on Investment.  

The first hurdle creates value for the company.  It’s an expected rate of return calculation.  If I were a client side marketer, I would tell every agency pitching my business that my internal hurdle rate is 20%. Then I would instruct these same agencies to pitch an integrated campaign that clears this hurdle i.e. yield incremental dollars in the form of lifetime customer value. For simple calculation, if my budget was $100, then I expect to hear ideas that will cause future cash flows in excess of $120.  And I would expect these ideas to not only create emotional bonds with my audience, but also leverage company assets like technology, supply chains partners, strategic alliances, and channel partners.

The second hurdle creates value for the customer. The question that must be answered is -- what does the customer receive in return for spending money with you? The hurdle for many customers to choose you doesn't revolve around an internal rate of return; instead it's more like an on/off switch with the variables being yes or no.  I believe a yes response to the following questions provide a Reason for your customer to put you in their consideration set.

1. Clique. Does brand secure affiliation with or strengthen connections between members of a clique?
2. Scarcity. Does brand allow people to share a privileged story with others?
3. Worldview. Does brand make people feel better about their beliefs?
4. Aspirin. Does brand solve a pain in the customer’s life?
5. Convenience. Does brand save money or time?

How are you getting over the hurdle? 

Image by: Foxtongue

Here's your strategy

Strategy in a business context is simply -- HOW are you going to make money.  And you generally make money when people are motivated to grab your item from the shelf or click purchase on their computer screen.

On top of everything else your job requires, we need to add motivator to the list. Yes, your job as a marketer is to motivate people to do something. In his book "Human Motivation", psychologist David McClelland's theory is that human motivation is dominated by three needs: 

1. Affiliation: A need to “feel liked” and “accepted” by others. Remember people are motivated more by group affiliation more so than self-interest. Look at the way we vote. We make decisions that will benefit people like us even when it doesn't benefit us directly.
2. Achievement: A need to achieve, excel and succeed. Think of how driving a vehicle deemed safe makes you feel like a good parent.
3. Power: A need to influence and empower others. Think of the power (read: street cred) all those sneakerheads are looking to attain when they wait hours in line to be the first ones with a new pair of sneakers.

So, how are you leveraging the uniqueness of your brand to connect people with members of their clique (friends, family, peers, and online connections), enabling people to fulfill their desires, and/or providing recognition or status? This is your strategy my friend.

Now I just need to motivate you to call The Reason for your next marketing project.

 

Image by: davidkjelkerud