April 2019 - c3centricity | c3centricity

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How Marketers Can Benefit From More Than Technology: Modern Marketing

Just like most entrepreneurs and business people, I go to my fair share of conferences. One that stays in my memory for many reasons, was an event I attended in San Jose, California.

Some say California is the centre of internet marketing; the San Francisco area for technology and San Diego for marketing. I tend to agree after having recently attended events in both cities.

The conference that changed many of my views on modern marketing was one about how business people, not just marketers, can break through our self-limiting behaviours. It is this idea which prompted today’s post. How we marketers can relinquish our well-established thoughts and actions to make our businesses grow more profitably. If this is of interest to you too, then read on.

 

HEART-CENTERED VERSUS CUSTOMER-CENTRIC

The conference I attended in San Jose was a great opportunity for me to meet many other people from around the world. People who want to make their businesses more heart-centered. You know that I am a champion of customer centricity. I love to support companies that want to put their customers at the heart of their businesses.

So you might be wondering what the difference is between a customer-centric and a heart-centered business. After the conference, I would say that in my opinion, not much. I believe it is difficult to think customer first without it also involving the heart; at least, it should.

As we try to put our customers at the centre of our organisations, it is through a concern to satisfy and delight them. A heart-centred business would probably go even further to ensure that what they do also benefits non-customers, or, at least, doesn’t harm them.

Creating shared value has become a strong commitment of many of the leading global players in the consumer goods market. Reliance Jio, Merck and Bank of America lead the way according to the Fortune “Change the World” List.

If the topic inspires you then you might also be interested in reading an article on “Innovation and Creating Shared Value”, which I was invited to contribute to one of the first issues of the Journal of Creating Value. I will also be speaking at the 2nd Global Conference on Creating Value in New York later this year. So let me know if you too will be attending and we can meet up.

 

CUSTOMER FIRST EXAMPLES

But back to defining the types of business. Which is yours? Heart-centered or “just” customer-centric? Or are you not even there yet?

Which type of business is yours? Heart-centered or “just” customer-centric? Or are you not even there yet? #CRM #CEX #CustomerCentric #CustomerFirst Click To Tweet

Do you think customer first but forget about those who are not yet your customers? That’s a dangerous thing to do as you may be limiting your brand’s potential. Here are a few current habits that some companies have, which show how customer centric they are – or not:

  • Asking credit card details for a “free” offer. This information would only be of use to charge the client. It is a “trick” often employed by companies that are not customer centric. Those that are would only ask for such information once the customer is committed to purchasing the offer.
  • Requiring full details on a contact form when the customer just wants to ask a question or download something. This information rarely provides value to the customer and is a real turn-off for many. Customer-centric businesses avoid asking more information than they need for immediate action. For them, building a strong relationship with their customer is more important; the additional details can be gathered as the relationship develops.
  • Offering helpful suggestions of other products or services that may be of interest when a customer buys something. Yes, this does benefit the company too if the customer buys additional offers, but a win-win service offer can be customer-centric too. These recommendations use a technique called affinity analysis (sometimes called basket analysis) and although Amazon wasn’t the first to use it, they are by far the most well-known marketers to do so.
  • Providing positive experiences the customer hasn’t paid for and doesn’t expect. This can be upgraded products or shipping, samples or complementary products or services included with their purchase. This benefits the customer by adding an element of positive emotional connection to the business. It also benefits the business as it can lead to a better company image, increased sales and greater loyalty.

 

FUTURE SCENARIOS

During my US trip, I caught up with a few of C3Centricity’s major partners in California. One of them,  SciFutures, in Burbank, gave me my own experience of the future in a hands-on way, which was awesome!

During my last visit a few years earlier, they let my try out the Oculus Rift VR glasses. While it was interesting, the stilted imagery did not enable me to fully embrace the new world I was watching. It was of a roller coaster they had warned would make me sick – which of course it didn’t! Not only did I not fully engage with the scenes shown, I was underwhelmed by the potential of using the experience for marketers.

Fast forward to just a few years later and I was blown away by the HTC Vive  and Amazon Echo / Alexa experiences they gave me. (I am speaking about several years ago now) The HTC glasses enabled me to integrate into a world of endless possibilities. They invited me to become an artist. And although I am not very creative, this tool enabled me to create incredible 3D images which I could view from every angle.

The Amazon Echo / Alexa unit, which is the first step towards a smarter home that I would certainly like to make, sat quietly on the shelf until an order was issued. “She” was an always-on assistant that I couldn’t wait to own. (I still don’t have one and yet me less “techie” brother does!)

She could estimate the drive time to my next appointment – which is vital when battling the impossibly heavy traffic in Los Angeles –  or play a specific song or add an item to my shopping list. This promised a vocal, hands-off experience I wanted.

But my visit wasn’t just to try out the latest gadgets, although I admit they were fun experiences. We also discussed SciFutures’ work with major multinationals. They were developing  and more importantly, showing, the possible future developments of the home, the financial sector and multiple other industries. Their unique demonstration of the future remain ahead of all the other trend-following, scenario planning agencies, even today!

I am always living in / dreaming about the future, so you can imagine how exciting my discussions with them were. (If you are in need of some new perspectives on your own industry, in order to be better prepared in this fast-changing world, then let me know. We can start creating an inspiring and exciting future scenario for your business)

 

SELF-LIMITING THOUGHTS AND BEHAVIOURS

At the beginning of this article, I said that I had been inspired by an event to review the self-limiting thoughts and behaviours that slow our progress and that of our businesses. I therefore, want to end with a list of them, which I developed during the conference and in the days following it. I would love it if you would add your own ideas in the comments below.

Beliefs are created out of our own, personal experiences and we rarely realise that some of them are not truths. Tony Robbins said that “Beliefs have the power to create and the power to destroy. Human beings have the awesome ability to take any experience of their lives and create a meaning that disempowers them or one that can literally save their lives.”  While reviewing the following list, I suggest we dwell on our own thoughts and behaviours and make 2019 the year we make changes that will empower us. Both we and our businesses will flourish if we do.

Beliefs have the power to create and the power to destroy. Human beings have the awesome ability to take any experience of their lives and create a meaning that disempowers them or one that can literally save their lives. Tony Robbins… Click To Tweet
  • The word “can’t” is far too often used these days, when in fact we most likely mean “won’t make the time” or “aren’t interested“. We should be more honest with both ourselves and our co-workers. Explaining our reasons for our behaviour or lack of enthusiasm is valuable information for future exchanges and learning. “Honesty is the best policy,” said Benjamin Franklin more than three hundred years ago and yet we have still not learned the lesson!
Honesty is the best policy. #Quote by Benjamin Franklin that applies as much to our personal as our professional lives. #Honesty #Business #CustomerCentricity Click To Tweet
  • The word “should” often precedes the use of the word “can’t”. For example “I should do that but I can’t find the energy”. Again we need to be honest in admitting the real reasons behind both why we “should” do something and why we won’t. This will also lead to a better self-awareness and understanding.
  • We love to give rather than to receive. We love to provide support and help others, but hate asking for it ourselves. This is a crazy situation that most of us find ourselves in more often than we would like to admit. We like others to be indebted to us, as it gives us a (false) feeling of power. Keep this in mind and endeavour to make your life one of balance; to give and receive.
  • Shakespeare said it best in his play “As you like it”, Act II, Scene VII:  “All the world’s a stage, And all the men and women merely players”  What are you playing at? Relationships are built on trust and authenticity, both in the personal and professional circles. Are you or your brand pretending to be someone (thing) you are not, or to know something you don’t? If so, the stress of being “found out” will take its toll eventually, one way or the other. Being our authentic selves is the only way to exp and, grow and flourish. The same is true for brands.
Relationships are built on trust and authenticity, both in the personal and professional circles. Are you or your brand pretending to be something you're not? #Brand #Relationships #CEX #CRM #Marketing Click To Tweet
  • “Procrastination is the thief of time”  is a mid-18th century proverb which means that if you delay doing something, it will almost certainly take longer to complete later on. The best solutions to procrastination include making lists, breaking down large or unattractive tasks into smaller, more achievable steps, and making the work time-limited. Making progress, however small, is better than none at all. 
Making progress, however small, is better than none at all. #Progress #Action Click To Tweet
  • Often one of the reasons for procrastination is perfectionism. We set such impossibly high standards that we know we’ll not meet, even before trying – so we don’t try. Life is for learning and as I said previously, any progress is better than no progress. Imperfection is human; embrace your humanness and learn from your failures. Edison is quoted as saying “I have not failed, I have just found 10,000 ways that don’t work”.  So ask yourself: “Are you learning to fail or failing to learn?” Hopefully, it’s the former! 
Are you learning to fail or failing to learn? #Quote @DenyseDrummond-Dunn #failure #Winning Click To Tweet

These are just a few of the many self-limiting thoughts and behaviours that many of us, including myself, have. They make our lives more difficult than they need to be. I was motivated by the conference I attended. I hope that my sharing these ideas has inspired you too to change. But without the need for the travel and resource investments I myself made!

My final comment on self-limiting thoughts and behaviours is a quote from that conference; “Fear is the only thing that gets smaller as we run towards it.” Marketers, are you ready to run towards your own fears and succeed in this awesomely changing world of possibilities?

Fear is the only thing that gets smaller as we run towards it. #Quote #Fear #Fearless Click To Tweet

If you’d like to read more on this topic then I would highly recommend you follow Steve Aitchison, as well as read a wonderful guest post there by Kathryn Sandford called “ 3 Strategies to master the self-limiting beliefs that are holding you back in life.” Enjoy!

Please share your own ideas and inspiring quotes below. Let’s support each other to be more authentic in 2019. If you haven’t already done so, please join the Winning4Marketers on Facebook, where we share ideas and support each other in becoming more heart-centered and customer centric.  

Winning customer centricity for marketersThis post includes some concepts from my book Winning Customer Centricity.

It is available in Hardback, Paperback, EBook and AudioBook formats. You can buy a copy from our website here, as well as on Amazon, Barnes and Noble, iBook, iTunes or in any good bookstore.

This post is an updated version of an article which first appeared on C3Centricity in April 2016. See the original post here.

How To Write A Winning Marketing Plan: 8 Questions Every Marketer Should Be Prepared To Answer

How hard is it to write a marketing plan? After all, every marketer writes one every year, so how difficult can it be, right?

Well, writing a marketing plan isn’t hard at all, but writing a winning plan is very difficult. And time consuming. And getting it approved by your executive board is perhaps the most challenging part of all.

Management are renowned in most organisations for “innocently” posing questions when passing marketers in the corridor or while socialising at a company event. Answer the CEO’s questions to their satisfaction and you will stand out from the crowd. Provide an incomplete or worse still no answer, and they might wonder if it isn’t time to restructure the marketing group.

So here are 8 actionable tips on how to write a winning marketing plan, so you can answer any question your CEO or boss asks you. The simple rule is to NEVER say you don’t know, but also to never drown them in a long-winded answer. Neither will win you brownie points. Make sure you have an answer like those proposed below and your name might just be on the next list of promotions.

 

1. WHO ARE OUR BRAND’S CUSTOMERS?

There is far more information needed than just age and gender, to answer this question. Prepare a short description (often called a persona or avatar) of a typical user, in the same way as you would describe a friend. See “13 Things your Boss Expects you to Know about your Customers” for further details on what you should already know about your customer.

Once you’ve checked out the above article, why not also download our 4W™ template? It will help you put everything in one place so it is always handy.

GOOD ANSWER: Our customers are middle-aged women, whose children are in their late teens or early twenties. She shops in local supermarkets and gets advice from friends on Facebook, about the best brands to buy and what’s on offer. She’s been buying our brand for over two years because it satisfies her children’s hunger when they get in from playing sports. That makes them happy and she then feels proud of being a good Mum.

 

2. HOW MUCH ARE OUR CUSTOMERS WORTH TO US?

Besides having an average lifetime value in your head, you should also be able to provide information about your customers’ perceived value of your brand. This information will come from certain attributes in your brand image study, such as “worth the price”, “more valuable than other brands” or “is worth paying more for.” The summary results of your brand image study should always be included in your winning marketing plan.

Just make sure that when you quote such statistics, that you compare them to the competition. Rather than saying “56% of category users think we offer great value for money”, say “more than a half of category users think we provide better value than the competition.” Your boss will always ask for more detailed information if needed.

GOOD ANSWERS: On average each customer spends about XXX (Dollars, Euros, Renminbi, Rupee, Real …) each year on our brand, which is about YYY over ten years (lifetime value is rarely calculated further out than this). Our current average price in-store is ZZZ, but 70% of our customers thinks we’re actually worth more than that.

 

3. WHAT RETURN ON OUR MARKETING BUDGET ARE WE GETTING?

Whilst ROI is not the best measure of marketing’s impact (see this Forbes article for more on that), you still need to answer the question. Your response to this could get very complex if you go into too much detail, so keep it simple.

Say what your total budget is, how much you spend on advertising and promotions and what impact that has had on sales, in total. I know it takes a lot more than these two actions to impact sales, but as I said, keep it simple.

GOOD ANSWER: Our total budget is AAA of which BBB goes on communications and promotions. With our current sales growth of SSS, that works out at approximately TT%.

 

4. HOW MUCH WILL WE SELL; WHAT MARKET SHARE ARE WE EXPECTING THIS YEAR?

Your boss will almost certainly remember your brand’s market share from your marketing plan. So when he asks this question he is probably looking for more than just a number.

You could of course just give him that number, but why not use the attention you’ve got by adding something impressive to the story? Comments about how your brand is growing compared to category growth or your main competitors, puts the numbers immediately into perspective. It also helps the boss to better understand the numbers.

GOOD ANSWER: We’re expecting a RR% growth this year to UUU unit sales. This will be the highest rate in the category, so our share will increase by PP points to MM% market share. These will be the best results we have achieved in over ten years – or some such comment to add value to the numbers.

 

5. WHAT ARE OUR INNOVATION PLANS FOR THE BRAND?

You could answer this with a long list of all the new SKUs you will launch, but again use your time wisely by adding some understanding too. Speak about the objectives behind the launches and any new theme or direction the brand is taking.

For instance, are you moving to more low fat, organic, natural, or sustainable sources? Sharing the objectives behind your plans for the brand will show the solid foundation you have for your launches and the decisions you have made.

GOOD ANSWER: We will be launching CC new variants in our new organic range, which we expect to add MM% points to our total market share. We will also be eliminating FF units that are not delivering on expectations and contain too much sugar for today’s customer preferences.

 

6. WHAT DO WE KNOW ABOUT OUR CARBON FOOTPRINT?

Questions around sustainability and sourcing tend to be raised in corporations which already have targets. If this is the case in your own company, then measurements are almost certainly already being taken and shown in your marketing plan. Therefore you just need to reply with the latest numbers.

But you can again use this exchange with top management to add how your customers feel about the question and all the efforts being made by the company – you do have that information too don’t you?

However if this is a new initiative for your business, then you will want to take the opportunity to show how you and your brand are playing their part in supporting this important company initiative.

 

7. HOW’S THE COMPETITION DOING?

The answer to this question could cover a lot of topics: sales, market share, new launches, advertising, promotions or pricing. After all, when you write your marketing plan you will add a lot of information about your brand and also its main competitors – or at least I hope so!

Therefore respond with a simple summary of a few current metrics of your brand in comparison to two or three of your major competitors. The manager will then clarify if he was thinking of a specific topic and you can then answer with a little more precision.

Make use of this question to share any particularly tough market conditions you are facing of which your boss / CEO may not be intimately aware. This is a great opportunity to pre warn them should your brand be struggling to meet the objectives laid out in the agreed marketing plan.

 

8. HOW’S OUR DISTRIBUTION DOING THESE DAYS?

A simple summary of outlets in which we have gained or lost distribution is enough here, but why not add some detail about successful placement improvements too? That latest shelf redesign that has increased sales, or the fact that you have just been named category captain in a retail chain, is definitely news worth sharing.

If on the other hand, you are having difficult discussions with an important chain or outlet group, then that too deserves a mention. Perhaps your boss has some useful contacts or ideas to help. Marketers are nervous about sharing their challenges, but pre warning them of market situations that are negatively impacting your brand are definitely worth mentioning before the situation become serious.

 

So there you have them. Eight of the most common questions top management asks of marketers. As you can see, the answers I’ve suggested are short and simple.

Especially when the question is posed outside the formal marketing plan presentation, the executive is probably looking not only for the information requested, but also to check that you have an excellent understanding of your brand. He wants to be assured that his business is in good hands. Prove it to him and also show your respect of his time, by giving short, precise answers whenever possible.

 

Do you frequently get asked other questions not mentioned here? Then add them in the comments below. Also, if you have a better way of responding to any of the above questions, I’d love to read those too.

 

If you’d like your team to be better prepared for “awkward” questions from management, why not ask for one of our 1-Day Catalyst Training Sessions? 

 

This post is adapted from an article which first appeared on C3Centricity in 2014. See the original.

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