Follow Trends While Doing a Juggling Act!

With 24 hours in a day and so much to do, how do you get your work done, take care of family responsibilities, and stay on top of trends and news in your industry and that of your clients?

Well, let’s do an accounting of the hours in a day. Let’s assume you are an average person who exercises on most days, commutes to and from work, and works an 8-hour day.

• Total hours in a day: 24 hours

• Average time sleeping: 7 hours … now you’re left with 17 hours

• Getting ready in morning: 40 minutes … now you’re left with 16 hours 20 minutes

• Breakfast: 20 minutes … now you’re left with 16 hours

• Lunch with client, friend, colleague: 1 hour … now you’re left with 15 hours

• Dinner at home includes prep time and clean-up: 1 hour … now you’re left with 14 hours

• Exercise time: 1 hour … now you’re left with 13 hours

• Commute to and from work: 2 hours … now you’re left with 11 hours

• Work: 8 hours … now you’re left with 3 hours

• “Free” time with family, friends, running errands, etc: 3 hours … there goes the day!

Now, I know you might be saying “I don’t sleep 7 hours a day” and granted, many of us don’t. However, for a 40-55 year old research indicates 6.8 hours are needed and for a 20-30 year old 7.2 hours are needed. So, let’s just say 7 are needed. Now, I’m not going to tell you what happens when you don’t get your needed sleep, but do the words “cranky”, “forgetful”, “tired”, “foggy” mean anything to you?

Now, how can you make the most of the time available to stay on top of the trends in business, in your industry, and in your clients’ industries without spending a lot of time searching for information? Well, here are two tips for you.

• First, subscribe to SmartBrief newsletters. Smartbrief compiles the top stories in specific publication or by industry. You select the publications or industries to follow and those stories will be delivered to you via email either daily or weekly depending on the frequency of the newsletter.

• Check out “LinkedIn Today” on LinkedIn under “News”. Here you can select the publications and/or industries to follow and you’ll see the most shared news stories and blogs on LinkedIn.

So, you might be wondering “Do these tips work?” Absolutely! I follow a number of industries and like being able to read articles and blogs on those industries in one or two places without having to hunt down every publication that may cover that industry.

Give it a try and let me know how you get your business and industry news in an efficient manner.

The Many Ways to Communicate with Customers

Phones, e-mail, texts, Facebook, LinkedIn, Twitter, and YouTube are all tools businesses use to communicate with their customers. How do YOU communicate with and market to your customers or prospective customers?

Now you may be wondering, “Do I need to communicate with my customers using all these mechanisms?” Quite simply, the answer is “No”. Yes, I know that’s a relief!

However, what you would want to do is really understand who your customer is, his or her age profile, and where or how your customer wants to interact with you. Let’s take a quick look at some of these communication tools.

Phone: clearly the overwhelming majority of people have access to phones; however, there is a growing trend in the U.S. away from landlines. In fact, younger customers are more likely to rely on a cell phone exclusively.

E-mail: this is a cost-effective way to communicate with customers. It’s also important to note that those under 44 years of age are less likely to use e-mail compared to those at least 45 years of age (according to a survey conducted in 2010 on internet usage by SSI).

Text: great way to communicate with customers under the age of 25 according to the same study in 2010. Also, promotional information can also be sent out via text messages.

 Facebook: another great way to communicate with all customers. Younger customers are most likely to communicate via Facebook. However, do NOT rely on this media exclusively and Facebook posts should be done in concert with other types of communication to establish trust. Although many messages are done electronically, people do not automatically trust these messages. Think of possibly participating in local events to make that human connection and post about the event on Facebook.

LinkedIn: good communication tool if your customers are other businesses or business people. One of the ways to use LinkedIn is to either post questions or answer questions in the “Answers” section.

Twitter: great way to reach a large number of people, but important to remember your message needs to be concise and clear at a maximum of 140 characters.

Just remember, the key is to make it easy for your customers to connect with you on their terms! Also, keep in mind these are all two-way streets of communication. If your customers post or tweet something, acknowledge them with a post or tweet and respond to their question.

Your goal with any method of communication is to keep the conversation going! Where have you had the most success in keeping the conversation going?

Diana Meyer
President, Meyer Marketing Intelligence
661.254.6141
dmeyer@meyermktg.com

Ignite Your Spark and Hustle

I’m moving away from my regular blog topics – marketing research and social media – for this one week.

Almost 1 year ago, I had the privilege of attending Tory Johnson’s Spark & Hustle Conference in Los Angeles. You might recognize Tory from her regular appearances on Good Morning America. The LA conference was the inaugural stop and I wasn’t sure what to expect.

There have been plenty of conferences/seminars I’ve attended and, in hindsight I felt that maybe I could have missed them. This one, Spark & Hustle, felt different from the start and the speakers piqued my curiosity. So, I attended the 2 1/2 day boot camp for entrepreneurs.

By the end of each day, which was late in the evening, I felt energized and revitalized, yet my head ached from so much information.

So, what did I get out of Spark & Hustle?

• New business friends with others in similar situations.

• Basic social media skills. This was a big one! If you’re not sure how to get started with social media, my recommendation is jump in with both feet…you’ll swim!

• Refocusing on my business, i.e., set appropriate fees, watch expenses, and not get lost in the planning. Being an analytical person, this was tough…I love planning, but there comes a point when you have to stop planning and start doing and then adjust things along the way.

• Realization that alternate revenue streams are key for any business and during a recessions that’s what keeps you afloat. This is a small business owner’s life jacket.

• I reignited the spark inside of me as an entrepreneur.

• The belief and practice of hustling EVERY day to get what I want.

Now in 2012, everything I created and changed in 2011 has taken me to a new level and my hustle continues EVERY day. And it’s not just networking, but it’s connecting with people.

So why did I pick this topic for my blog? Well, Tory is back with her 2012 Spark & Hustle tour. It’s somewhat different this year with 1 day instead of 2 1/2 days, but last year she demonstrated the time and money spent attending will not be wasted. You’ll learn a lot and build relationships with people in your region and across the country.

If you’re able to participate in a Spark & Hustle conference in 2012, I encourage you to do so. Let me know if you have any questions about the conference or about specific tips I put to use right away.

Lots of continued success!

Diana Meyer
President, Meyer Marketing Intelligence, Inc.
661.254.6141
dmeyer@meyermktg.com

Are You Focusing on Customers or Social Media?

In promoting your business, what do you focus on?  

• Do you focus on your products?
• Your customers?
• Your expertise?
• Your customer service?
• Or your communication mechanisms?

If you answered “customers” and “communication mechanisms” you’re holding good company with Chief Marketing Officers (CMOs) worldwide according to a recent study by IBM released October 2011. In fact, the top priorities for CMOs in the next 3 – 5 years are:

1. Increase technology investment on social media
2. Focus on customer analytics
3. Focus on customer relationship management systems

U.S. marketers’ priorities are similar:

• Improve segmentation and targeting using customer data
• Integrate social channels and leverage social data

Are you using your customer data to segment and target? Are you using your customer data to better understand and craft messages to your customers and prospective customers?

If you haven’t done this, try looking at who your customers are in terms of their demographics, geographic location, and other products purchased to find more customers like your profitable ones. This is also a good way to better message them with content that will grab their attention and spur them into action. Interestingly, only six in ten CMOs worldwide are currently looking at their customer data to segment and target.

So now you might be thinking, “I’m going to be inundated with data and information.“

Well, again you’re not alone. In fact, CMOs felt most unprepared with three things that could help explain their top three priorities in the next 3 – 5 years:

1. Data explosion
2. Social media
3. Changing consumer demographics

You might be thinking, “OK this is nice to know, but what does this mean?”

• Companies of all sizes will be more active on social media and developing apps for tablets and other mobile devices in the near term.

• Social media is now being viewed as a key way for companies to create customer engagement.

• It will become increasingly important for companies to find integrated software suites that will manage their customers.

• Companies and marketers will be searching for ways to enhance or even create customer loyalty especially as the Millennial Generation gets older and as a group are not as brand loyal as Baby Boomers.

Let me know what some of your top priorities are in the near term and how you are using your customer analytics to generate additional revenues.

 

Diana Meyer
President, Meyer Marketing Intelligence, Inc.
661.254.6141
dmeyer@meyermktg.com

 

QR Codes: Usefulness and Safety

A while back I devoted a blog entry on QR codes and how to create them and how different industries can use them. Since then, I’ve noticed many more companies in the US – both small and large companies – have been using QR codes. You’ll find several QR codes on advertisements in magazines, check out the ads in the Sunday newspapers and you’ll see QR codes, you’ll even find them on the packaging of some products at the grocery stores. I’m even starting to see them on some direct mail pieces arriving at my home.

So are they useful?

The answer is “yes” but a qualified yes. Here’s what I mean. Include a brief message next to or below your QR code such as:

• “Scan for additional savings”
• “Scan to connect directly with us”
• “Scan to view trailer”
• “Scan for product demonstration”
• “Scan for virtual tour”

Scan to connect
with Meyer Marketing
Intelligence, Inc.

Now you might be asking, why would I want or need to provide a QR code?

My response would be, why wouldn’t you do so? With at least 1 in 4 US adults nationwide owning a smartphone, QR codes now become another communication tool with customers and potential customers. It provides others with an easy and fast way to connect with you or learn about your products and services or even receive additional promotions.

Here are a few examples how businesses in specific industries might want to use a QR code:

• Realtors: provide a virtual tour of one of your houses or buildings listed
• Schools: provide a virtual tour of your school or promotion video for prospective students and their parents
• Nonprofits: provide a link on your direct mail or other collateral to a  “Donate Now” page on your web site for donors to give online
• Event planner: provide the event schedule or exhibit floor map/listing of exhibitors or listing or promotion video of previous events
• Publications: provide your special insert schedule or readership demographics
• Manufacturer: provide a product demonstration
• Any business: provide a 30-second visual business card introducing yourself or a direct connection to your mobile web site or a video of a couple of testimonials

As you can see, the possibilities are endless!

Now, on to the issue of safety in the cyber world. To avoid malware or viruses from infecting your smartphone here is one easy rule to remember:

Do not scan a QR code if you do not recognize the company or business.

Aside from that rule, use your judgement as you do on your computer and if it seems suspicious, do not scan the code.

Are you using QR codes in your business? If so, I would like to hear how you are using these codes.

Diana Meyer
President, Meyer Marketing Intelligence
661.254.6141
dmeyer@meyermktg.com

Baby Boomers and Women Use Social Networking Sites Daily

With 65% of online adults using social networking sites such as Facebook, LinkedIn, and MySpace, according to the May 2011 Pew Internet & American Life Project, why wouldn’t business professionals want to use social networking sites, too?

The share of online adults using social networking sites has grown over the years:

• 61% of online adults used social networking sites in 2010

• 29% of online adults used social networking sites in 2008

• 8% of online adults used social networking sites in 2005

Online adults view social networking sites as good and fun and more than one-half used favorable adjectives to describe their experience with social networking sites!

 

 

Older adults are also flocking to social networking sites on a daily basis. Consider the following results:

• 61% of online adults under the age of 30 use social networking sites on a typical day, compared to 60% in 2010

• 32% of online Baby Boomers (50-64 year olds) use social networking sites on a typical day, compared to 20% in 2010

Also noteworthy was that 69% of online women are more likely to use social networking sites on a daily basis compared to  60% of online men.

So what does this mean for businesses?

• Develop your business presence on Facebook and LinkedIn

• Use social networking sites as another communication tool

• Utilize traditional (offline) and online advertising and communication vehicles

• Social networking sites are robust communication tools for businesses as they promote and encourage dialogues with customers not just monologues as in traditional marketing tools

Have you increased you usage of social networking sites? How have you merged your traditional/offline marketing with your online marketing?

Knowing How Your Customers Want to Communicate

We’ve all heard some or all of these words to describe our customers:

• Baby Boomers
• Gen X or Generation X
• Gen Y or Generation Y or Echo Boomers or Millennial Generation
• Gen Z or Generation Z

But do you know what is important to them and how they like to communicate?

Well, let me make things a bit easier to understand when you hear these terms. We’ll explore each demographic group or generation with a few key points to remember about each.

Baby Boomers

• Born 1946 – 1964 so they’re around 47 – 65 years of age
• Active online both at home and at work
• Involved in their community, goal  oriented, like to collaborate, maintain a positive attitude, value health and wellness, focused on prosperity, and avoid conflict

 

Generation X

• Born 1965 – 1980 so they’re 31 – 46 years of age
• Responsive to online marketing but not telemarketing or direct mail
• Seek work/life balance, hard to impress, like autonomy, and are highly adaptable and independent

 

 

Generation Y

• Also known as the Echo Boomers or Millennial Generation
• Born 1979 – 1994 so they’re 17 – 32 years of age
• Of all generations, the most wired and heavily connected via mobile marketing
• Loyal to an idea/cause/product, respect must be earned, importance placed on social responsibility, maintain global perspective, actively market/brand themselves

 

Generation Z

• Born 1992 – 2010 so they’re babies to 19 years of age
• Most heavy users of social media and online shopping, would rather text than talk
• Tastemakers – don’t follow trends but set them, not brand loyal, share everything, look at products and services on their own merits, collaborative, and creative

 

So what does each generation have in common? They are all online!

What does this mean for your business? You should also be communicating with your customers online, regardless of the generation you target.

What else is important to take away? Identify your target generation and really look at what’s important to them. Then, make sure your message addresses the key characteristics they value.

Let me know what else you have come to learn about these different generations.

Lessons Business Owners Can Learn From Restaurant Impossible

I admit it, I religiously watch Restaurant Impossible with my husband and teenage daughters. The scenario of each show usually looks like this:

• Restaurant was successful for quite some time;
• Owner became complacent or changed menu to what he/she wanted to eat;
• Training of staff was lacking;
• Customer service was ignored by all including the owner; and,
• Restaurant was on the brink of closing.

Now, let’s shift industries to almost any other. Think of this scenario, sales and revenue generated were increasing until the economic downturn a few years ago, owner offered services or products he/she wanted to offer, follow-up with customers or clients fell by the wayside, and small business is now not as successful as in previous years.

So, what’s the first thing the business owner did wrong or forgot to do in both Restaurant Impossible or the other industry example? Not listening to the customer.

This appears to be a critical misstep many business owners make. It’s great to offer a particular service or product, but if it’s not what customers need or want, then why offer that product or service?

Information can be obtained from a couple of sources. First, your own internal sales/accounting system can tell you where your sales are and the profitability of those sales.

Second, simple customer satisfaction surveys can tell you what your customers want.

The survey can be as simple as the following questions:

• How satisfied are you with the service provide today?
• Is there anything we could have done better?
• What other products or services would you like us to offer?

What’s another glaring mistake made by the restaurant owner and business owner? Ignoring or not placing importance on customer service.

Numerous research studies across various industries have concluded that price is not the only factor motivating an individual to purchase. Often times, coupons or discounts will not motivate customers to buy if the business offers poor customer service.

So, the next time you watch Restaurant Impossible, ask yourself the following:

1. Did the restaurant owner listen to his/her diners?
2. Was customer service top priority?

Now ask yourself:

1. Do I offer products and services my clients want and need?
2. Do I thank my customers and ask them what other products/services I can offer?

I welcome you to share the ways  in which you ask your clients about their experience with you, your business, and your products and services.

Are You at a Cocktail Party, Family Reunion or Corporate Boardroom?

Interestingly as I see posts and tweets from friends, followers, colleagues and others I don’t personally know, I keep asking myself  “Do they realize they’re in the wrong place with what they’re saying?”

Let me explain. You’ve probably seen status updates from others on LinkedIn with texting-like words or hashtags (#) or other abbreviations used. That’s perfectly acceptable writing format/styles for Twitter where you’re limited to 140 characters, but I wouldn’t suggest that’s appropriate for LinkedIn where you have more space.

Start to think of some of social media platforms in the following ways:

• Twitter is your Cocktail Party/Happy Hour. You have limited space. Lots of messages are posted every minute. It’s your classic cocktail party or Happy Hour where you’re trying to get noticed quickly by someone interesting. So, naturally you want to be interesting, intriguing, and energetic. Try engaging others by replying to their tweets and try to keep conversations going through replies or direct messages.

 

• Facebook is your Family Reunion or Annual Holiday Card Letter. You all understand and have a visual now. This is where you interject more personal information, where you’re sharing what’s been happening and what you’re up to these days. You clearly have more space here. So how do you turn this into a viable communication method for business? Actively engage/communicate with people on a business page and set up a group and invite other like-minded friends you have on Facebook. Clearly identify the purpose of the group and you’ll be amazed at the sharing that will take place.

• LinkedIn is your Corporate Boardroom. Be professional. Share information or knowledge you have and suggest ways other professionals might be able to use the information. Clearly, avoid abbreviations and above all, don’t have your tweets from Twitter automatically post to your LinkedIn status. Unlink the two.

Take a look at what you are saying and how you’re saying it while you’re at the Cocktail Party/Happy Hour, Family Reunion or in your Holiday Card Letter, or in your Corporate Boardroom. If you’re in the Boardroom, make sure others will understand you and that you have something of value to say.

Does It Seem As Though Every Store is Having a Back-to-School Sale?

School is back in session for many students and if you’re like me you were probably wondering “Didn’t the back-to-school sales start awfully early this year…right around 4th of July?” Well, if you thought that, you’re probably right. In fact, back-to-school shopping is the second largest consumer shopping event behind the Winter holiday shopping season reaching $68.8 billion for all K-12 and college spending.

According to a recent survey from the National Retail Federation, despite more parents waiting until one to four weeks before the start of school, retailers began gearing up and stocking their shelves with back-to-school merchandise just after the Fourth of July.

• 42% wait until 3-4 weeks before school starts
• 31% wait 1-2 weeks before school starts and that’s up from 25% in 2010

Now consider if school starts mid-August as it did for my daughters, two out of every five parents in my area began shopping in mid-July. So now it makes a bit more sense for retailers to start promoting their back-to-school sales in early to mid-Summer.

In general, 44% of parents in the survey indicated the economy was forcing them to spend less. Many were asking their children to use supplies and clothes they currently owned that were in good condition in addition to:

• 50% shopping for sales
• 40% purchasing generic or store brand items
• 30% doing comparison shopping online

Since the back-to-school market is so large, it now makes more sense for other retailers to try to get a piece of the pie or at least make the pie a bit larger.

Consider bicycles and back-to-school. Students need to get to and from school five days a week and with parents working, carpools or public transportation may not be readily available. Why not offer  incentives – sales and discounts – in time for the start of school. As a working parent, transportation creates stress as I  figure out how my own kids will get home every day without their own car.

While it’s a bit late now for back-to-school sales, watch next summer for an expansion in the back-to-school shopping season as well as more products and retailers offering back-to-school sales.

What other types of retailers can you think of who might be strategically try to increase the pie?