Atomic Penny

Salt is a common element composed of sodium and chloride, each of which have various other uses, but together they form the simple compound of salt. Why is this important? It is an example of how two elements when combined can create a wonderful outcome. This is also true when you create a marketing program. Take your knowledge and an associate’s creativity, both of you combined can create a powerful program.

Think of it as an exercise in expansion. See how much each of you can contribute to the success of a project. You cannot let the fear of the outcome block your way. Be prepared to inspire, listen and GO! Be the salt of your marketing and business success. It just starts with a sprinkle.

The hardest part is usually starting. Here is a suggestion.

1. Get  a piece of unlined paper, a crayon and an empty space
2. Either write or draw the basics of your idea (no style points are given, and no experience necessary – I suggest drawing)
3. Have someone else look at what you have done and have them add to your writing or drawing with their own crayon
4. Go back and forth until both of you have the basics of the path you are going to pursue
5. Hang the picture where it is visible to all involved (no explanations necessary)

Now you have the salt of your project. And a recipe to follow as you move forward.

• As for recipes, I learned one the other day for steak that was unbelievable. Take your steak, grind twice as much salt and pepper on both sides as you usually would. Cook it over a grill with hardwood as the heat source. Remove when cooked to preference, enjoy!

What recipe for your success can you start today?

POWER ON–Mark

Full disclosure: I am not a fan of Madonna, nor do I watch the TV show Glee. However, their recent strategic alliance serves as a shining example for how you can achieve your own Confetti Project.

Source: Popcrunch.com

This week on the Fox TV show Glee, Madonna provided the rights to her entire song catalog. Madonna was exposed to a slew of potential new fans and her current fans were rewarded with new versions of her songs. Glee also made out with similar exposure. But what does that have to do with your business? 
What do you have that you can share to help everyone win?

You have customers who currently spread the word about your company. So reward their dedication! Create an opportunity to form an alliance, which will promote both your business and your “fans.” There is nothing wrong with giving or receiving an opportunity if it helps everyone involved. It is better to give something of value than it is to keep it to yourself. It is a gift both of you can use.

POWER ON-Mark

I found this real cool font that reminded me of how marketing can be anything you want it to be. The font is based on a Volvo 240 wagon, and I have a strange love for that car. My grandparents owned one, as did a couple of my aunts. I remember the comfortable seats, the space and the nice drive. It’s funny how a font can bring back those warm, fuzzy memories.

That should be the ultimate goal of your marketing. Make it so it elicits a good memory. Sense-based memories should be your focus.  Jog your customers minds with sights, smells or sounds. Remind people of a positive experience that they can correlate to your business.

Every time you do this, you spread your Confetti and build your Confetti Project. It will continue to spread as you create more interactions and memories. Take a minute to think of your customer interactions, and what kind of memory they will create.

What are you doing today to make your customers remember you?

POWER ON–Mark

I often find myself on the receiving end of questions regarding word of mouth (WOM) marketing –”How often do you have a marketing program that is focused on WOM?”; “How do you make sure that WOM is working?”; “How do you control it?”

My suggestion to achieve WOM success is to plan the biggest event you can afford and invite EVERYONE! And don’t just invite customers. The reason why is simple, but often overlooked. Your customers, if pleased with your service, have already told people about your product or service. It is the customers that have not yet been WOWed from an interaction with you that can help you reach a brand new audience.  Emergemcemarketing.com has a nice blog on this subject.

Get the message to spread to new customers through interactions outside the usual office or business environment. An event that I have had consistent success with is a car wash. For the cost of  a power washer and a local high school or community group, you can increase interaction, goodwill, and your bottom line. 

Let the people you please spread the word about your business!

POWER ON-Mark

I am not a fan of reality TV, but the new CBS show, “Undercover Boss,” has my attention for a variety of reasons.  I am intrigued by the fact that a CEO is not recognized by any of the people he works with. Does that mean that the communication from the top does not include information about the CEO? Or does it imply that there is a lack of communication? Also, if you watch the show, are you surprised that the majority of workers are either 1) Happy and go lucky in their position, or 2) Have overcome obstacles to maintain his or her job?

The one employee that really stuck out for my was Dolores from the episode that aired on February 21, 2010. Dolores had taken it upon herself to get to know her customers–all of them. She knew names and situations while serving the most coffee of any 7-11 store in the US. All this while living with a failing kidney. Dolores was clearly the driving force in retaining customers and achieving high sales. Seth Godin even calls her a Linchpin.

You can learn from her much more than you can learn from the CEO. It is not about margins, ROI, metrics or even advertising. It is about doing the right thing. It also affects employee and corporate morale. What a pleasure it must be for customers to be greeted with a smile and their name when they walk in the door! Spreading the word about one’s business through actions and interactions, as opposed to a big advertising budget, is what I call the Confetti Effect, part of my Confetti Project. More on that soon…

Learn from Dolores, take what she teaches and find a Dolores in your company, or better yet: become one.

POWER ON–Mark

I was talking to a potential client last week who was lamenting the fact that a previous unsolicited direct mail program had only a .33% success rate after the first month. Traditionally, direct mail has a 1-2% response rate. So, after one month, my prospect was one-third of the way there. If there had been some sort of follow-up, I believe his 1% goal could have been attained.

Unfortunately, he chose to terminate the program because it did not give him the desired return. What he failed to realize, however, was that his direct mail campaign was not given a chance to mature. With any program, unless there is a strong negative response, or no response at all, it needs time to ferment and mature.

The lesson here is that one shouldn’t expect a huge response to any given marketing or advertising program. Instead, expect a response rate that over time will yield a decent response.

Bottom line, if you shoot for the moon, be happy if you get out of the atmosphere.

POWER ON–Mark

Look in your desk drawers and count how many miscellaneous items you have from various business associates that were given as a reminder of the business relationship you have or wish to build with that person. Now look how many “sales aids” you have in your possession that you give out on a regular basis.  And consider if they aided in a sale in any way, shape or form.

I was going through my desk today and found 7 hand sanitizer bottles from 5 different contacts, several pens, at least 4 hats and more post-it notes and highlighters than I wished to count. Not to mention the carabiners, paper clip holders, magnetic business card holders little mint tins and a couple of empty candy jars. Each of these items have  a logo from a business relation. Along with these items I have grab bags of various marketing promo items I have picked up at conferences and expos sitting ignored or unused, finally thrown out.

I am sure that at some point I needed or thought I needed each of these items, or accepted them as a gift from someone I do business with on a regular basis. The problem is, I don’t really need or want most of the items.

Now, think back to when you gave or received one or more of these items, did you get any business? Did you enhance your relationship because of the item you gave out? What were you or your business associates hoping to gain by handing these items out? Now think of what you could have done differently, for less money and more effectively.

I am a huge proponent of handwritten notes, real handwritten notes, not the kind you can order with your handwriting imprinted on on a basic card. Notes can cement or create a customer.  Be sincere about thanking the people that matter most, remember the customers and relationships that helped you start, grow and prosper. If you think you have too many customers to thank, focus on the opinion leaders who can drive more customers to you based on your actions and sincerity. Appreciate those who keep you in business. Stamps, cards and ink are going to pay off more than another pen or post-it note pad.

The guys over at carrots.com, are champions of appreciation. While they focus on employee relationships, the same principle can be used for business relations. More importantly, a handwritten note carries more weight than a case of hand sanitizer bottles.

E-Myth also has a post on some great gifts for an entrepreneur. Their suggestions can really help someone who needs a little direction.

All in all, giving gifts is a conventional way of sales and marketing, and there is nothing wrong with the occasional small promotional item. But think in an unconventional manner, think what you can do to set yourself apart with the customers you have, and those you want.

Most of the time, you can be like everyone else, or you can go your own way and get better results. Try something new! It won’t hurt to be different, but it will pay off.

POWER ON–Mark

Amplitude: 1) the state or quality of being ample, esp. as to breadth or width; largeness; greatness of extent. (Source: www.Dictionary.com)

Recently I was reading “What The Dog Saw” by Malcolm Gladwell, and there was an article on ketchup. What caught me was the description of how the taste of a food is measured, it is amplitude. Amplitude measures the balance of sweet, sour, bitter, salty and umami and how each of these related to the complete taste of the food. Take a minute to read this article, I found it fascinating.

I started thinking of how this can apply to marketing with a big M. Marketing can be a wide assortment of differing activities focused on getting customers to buy your service or product, measuring the results and modifying your processes. This helps to insure a better marketing result and hopefully better sales. Unconventional marketing can become your amplitude if done correctly, or it can become your downfall if you leave the consumer with a bad experience. The depth and breadth of your marketing can increase your amplitude with your customers, prospects and suspects. Make your marketing a savory experience.

Here’s how:

• Create anticipation for your product. Remember the Apple commercial for the IPOD? A silhouette of a person wearing/holding an iPod, dancing to the music, no product, no pricing, just a visceral experience. You can do the same with a well thought out marketing program. Create anticipation and excitement for the product; get the customer in your business to experience more.

• Be exclusive. Work with your distributors to create a product or service that no else has. While that may sound expensive, it can be as simple as packaging two like products into a single package. Combine cocoa with marshmallows or milk with cookies.

• Don’t hesitate. If there is a hot new product or service, be sure the public know you have it in stock. If you have a unique service, trumpet your differences to the public. Make them aware, sometimes it can be done by word of mouth.

• Ask for assistance. Don’t be shy to ask your customers to tell others about you. Be sure to also let your customers know how much you appreciate your customers, a smile and thank you is more than most businesses do these days.

By doing some of these things, you can create a higher amplitude for your business. The experience is the thing. Whether it is visual, tasty, aromatic, and aural or touch, you can raise your amplitude by doing it better.

What is your amplitude?

POWER ON–Mark

A very deserving winner with Dave Adams (Adams G3) and myself

Saturday was Atomic Penny’s First Annual Community Share Day at Utah Valley University. During the basketball game I along with the participating partners were able to give away a car to a very deserving single mother.

As you know I am a proponent of spending less and getting more when marketing.

Free luncheon for sponsor and community organizations-Texas Roadhouse

Car Donation to be repaired and given to a deserving recipient-American Family Insurance

Car Repair for donation- Adams G3 Collision and Repair

Certificate for room rental-Noahs

All marketing and prizes, with the exception of $45 for stamps was donated or provided.

Participating Community Organizations:

Boys and Girls Club of Utah County

Second Chance Foundation of Utah

Habitat for Humanity

Turning Point

In Our Own Quiet Way

Little Heroes Foundation

All of these organizations gave away a donated iPod and raised funds and awareness during the basketball game.

All it took was asking, implementing and following up. Ask and you will be surprised at what develops!

Personally, this was one of the most rewarding events I have ever participated in or organized.

POWER ON–Mark

Shopping as we move forward is changing as shoppers become more savvy and cost conscious. The first big retailing weekend of the holiday season is behind us and according to a myriad of reports, things are changing. An article on businessweek.com states that traditional brick and mortar store sales are flat, while online sales are expected to increase 8%. While sales and traffic are up, revenue is currently running at the same level as last year. All of this is old news, however there is another angle to consider–service.

“Customer is king”; “The customer is always right”; “We aim to please”, are all traditional refrains heard in the retail and marketing departments in almost every company. The reason why you aren’t hearing that is that sales forces are reduced and there is no one to tell you how much your business is appreciated. What you don’t hear is, “We aim to make a profit”, “The customer is right when we make money off of them”; and The dollar is king”, If you went shopping over the weekend, did you notice lines are a little longer, sales people are fewer and prices are lower. As a marketer, you sell the sizzle, and right now the sizzle is price. With lower prices, companies need to cut costs somewhere. And I believe that the saved costs are in the service arena. There have been no big news stories about a rise in seasonal hiring, all that you see and hear about are prices and discounts.

I believe that is one of the factors fueling the  increase in online sales, along with ease and convenience, liberal return policies, free shipping and a large selection of product at sites such as Amazon.com and Zappos.com. Zappos usually sells at or near full retail. Zappos also offers outstanding service before, during and after the sale.

As a marketer, your mission is going to be getting feet in your door and buying your product. With price being the major consideration, I believe that you can do some things that get buyers in your doors, and wanting to return. They are:

• Offer a gift card or coupon for a return visit. How many gift card do you have sitting around unused? Offer a premium, that attracts the buyers attention. Plan on some, but not all coupons or gift cards will be used.
• Use current customers to attract new customers. Have a referral system that allows customers to get an extra discount, or a free gift if they refer a friend.
• Partner with suppliers to ease customer angst. Instead of getting  a few extra advertising dollars, have a supplier set up a sponsored rest area, or a hot chocolate stand.
• Offer gift wrap or carry-out service. Do something extra that your competion does not. Online retailers deliver to your door, why not help deliver to the customers car?
• Consider the value of rebates. I am not a fan, but like gift cards, how many go unredeemed?

Simply put, in order to survive, you need to differentiate. Otherwise, you will live and die by beating your competitors prices, with little or no additional revenue. In the end one or both of you are out of business.

Make your service and convenience difference your competitive advantage. Your competitors will be hard pressed to replace the smile you put on the customer’s faces.

POWER ON–Mark