The Most Important Question To Ask Your Customers

Think about it. You ask one strategic question of your customers and the business equivalent of clouds separating and a chorus of angels singing commences simultaneously and immediately; you start to enjoy success as you’ve never seen before. Your branding message, influenced by newly captured insights is clicking. You are building your client base. All because of one question.

Okay, in the end it probably isn’t that simple. At the same time, it’s not that difficult either.

So think about it. What’s the one question you would ask? What is the biggest head scratch that keeps you up at night?

Recently, for hotel heavyweight Hyatt, the question was “How do YOU travel?”  The chain learned a lot. And all of it driven towards improving the traveler’s experience. One of the ‘a-ha’ moments centered on the fact that those traveling for business place a high value on trying interesting local cuisine. Think that didn’t start a big discussion in Hyatt’s food and beverage division? I bet it did.

By the way, Hyatt did the whole research project through social media. Smart! Because doing so, allowed the company to gauge guest sentiments in real time on a lot of different topics and in different parts of the world.

Questions anyone? We’re here to help. Call us at 888-703-4636 or visit our website.

For Marketers, Time To Learn A New Acronym

P & L.? Yep. Profit and loss.

ROI? Uh-huh. It stands for return on investment.

REO? Okay that’s just to see if you are paying attention. And yes, that was a Thursday throwback to classic rockers REO Speedwagon.

How about the acronym LTV?

Anyone?

I’ll save you the time it would take to do a fast Google search (or Bing, if that’s your thing). LTV stands for ‘lifetime value’ and it’s being tossed around a lot lately when referring to how much value consumers place on a product — more specifically all those apps on our smartphones.

Here’s an APPsolutely amazing statistic. According to Apple, more than 800 apps are downloaded every second from the company’s App Store. 800 a second! And that’s just Apple.

Here’s where LTV comes into play. One of the most recent studies on smartphones shows 22% of the apps are never used more than once. Put another way, consumers are fast to download. The problem is not a lot of them see a compelling reason to return to a lot of those apps. Low LTV for certain. Not good for business!

Marketers miss the mark when they think a ‘cool looking’ or ‘pretty’ app is the secret to success. It’s not. Smartphone users want something more. It’s all about engagement.

By way of example, The NHL just went live with a fan app that is a hat-trick for hockey heads. (1) Fans can download the app for just their team, (2) it has features for those fans who actually go to the arena to watch the team in person and (3) it has features for fans who watch on TV from the comfort of their couch. Yes, it offers real time scores. You’d expect that. It also lets you watch out of market games live. See? That’s something you wouldn’t expect. A great example of a feature that will bring users back time and time again (at least during the season).

Then there’s the app called RecycleBank. Users earn points and special offers for logging their green living and recycling efforts. Again, it’s all about engagement. It’s not just static information.

2013 is almost a memory. Lots of companies spend the last few months thinking about ‘next year’ and how they’ll make their business even better. For businesses with smartphone apps, perhaps some deep thought should be given to re-tooling the customer experience by improving the LTV of their mobile products.

What’s Your Company’s Super Strategy?

If you haven’t heard, the word is out on what the Fox network plans to charge for a :30 second commercial spot in this year’s Super Bowl.

According to an article in Variety, advertisers will be asked to write a $4 million dollar check for just one half-minute long chunk of your attention.

Long before you’ll experience this annual onslaught of advertising, and all in one evening, an elite group of consumers around the country in select markets will be getting the ultimate sneak peek. Yep, with all that money on the line, advertisers will be enlisting focus group panels to first give their ‘yay’ or ‘nay’ to these creative brand messages. With that feedback in hand, the spots will then be tweaked and sweetened to match what the groups deem as successful, memorable and most importantly actionable marketing messages once they land in your living room. The ‘actionable marketing message’ part means the crafty commercials will likely make you go out and consume that product or service.

SO WHAT IS YOUR SUPER STRATEGY?

Let’s face it, you probably aren’t going to go out and spend $4 million on a :30 second spot. Probably Joe? OK, you’re not.

Still, you spend money to market your business. And that’s why you should have your own super strategy to ensure your customers are being super-served in ways your competitors just can’t match. Every day of the year. Not just during football season.

Depending on your product or service, it may be time to focus group test any number of aspects of your offerings.

Some areas worth closer examination include:

• Effectiveness of your advertising
• Packaging of your product (big talk these days about whether companies are being responsible on a sustainability level)
• Website effectiveness
• Strength of your brand (brand loyalty)
• Customer satisfaction
• Where you are vulnerable

The list could go on and on. And it does. The point is, the success of your business relies heavily on how well you know your market. We specialize in asking the right questions  and in the right venue, to help you get there. So set a game plan for success. As always, we’re here to huddle up and help. Contact Us! 888-703-4636.

Research Is Your Roadmap: So Why Are You Roaming Aimlessly?

It’s about that time of year when summer vacations are winding down and families are settling back into their regular routines.

Think of  your trip for a moment. If you are like most people, you probably had a detailed plan locked-in well in advance of your departure date and it was probably as thorough as a pre-launch checklist at NASA. Why? Because you wanted to make sure the journey didn’t end up being the inspiration for another Chevy Chase Vacation movie.

Bottom line, you had a vision for your vacation.

So now that the trip (and it’s great memories) are in your rear view mirror, it’s time to buck up and ask yourself a couple of questions about your business: How much time and planning have I put into making my business rock? (I hope the answer is “at least equal to or greater than the summer trip”). And, what am I basing my game plan on?

I will tell you what I tell my clients. Here it is and it is rarely a wrong answer. It all starts with the research. Shockingly, many businesses launch without having done any research at all. None! Nada! Zilch! And lots of companies don’t make research an important part of their strategy even after they are up and running.

Sure, some businesses find success by taking a gamble or ‘going on gut.’  The question you have to ask yourself is whether you want to take that kind of risk. If you do, then I wish you luck. Thanks for stopping by! If you want to take a more conservative and careful approach, then the rest of this article is for you.

When I start working with a  client I don’t berate them about what I see as a misstep of launching (or introducing a new product line) without a strategy based in research. It’s not about the past. It’s about what we can do from this point forward.

Instead, we immediately sit down and get real by having an honest discussion about where they want to take their business. I tell them research is what helps them get a true picture of who their customers are.  It helps them to identify the public perception of their business, and in some cases, it underscores to businesses that they are, unfortunately, not even thought of in the general marketplace. Put simply, solid research gives you a baseline and helps to take much of the guesswork out of how to grow the business. It helps businesses to actually create a vision, capitalize on their strengths and make some hard decisions in areas where they may be vulnerable.

There is an old saying that goes, “There is nothing more expensive than a missed opportunity.” Used in the research realm, it translates to something probably less memorable as a quote — but powerful as a practice to follow: “Know everything you can possibly know about your business and industry”. That means invest in research. And then, do something with that research. Sadly, some companies take the lead, do the research, and then let the data sit on a shelf collecting dust. And if you need a little extra motivation, just remember, if you’re not doing research your competitor probably is.

Give us a call. We can help. Joe Hengemuehler Consulting. 888-703-4636.

Great Lessons In Brand Relevancy

 

 

 

 

 

If you manage a brand and need a little inspiration, take a look at this clip. Great insights from some of the best marketing minds around. The clip starts with a brief discussion about women in leadership roles. It’s worth the less than 5 minutes it will take to watch it. Enjoy.

 

Gannett Buys Belo

 

 

 

 

Here’s a brief article posted a short time ago on the website of The Phoenix Business Journal.

Writer Tim Gallen asked me for comment on the big news today that media giant Gannett bought Belo.

Feel free to share your opinions here.

Are You Using Tablets & Smart Phones To Watch TV?

When I was growing up, we used to fight over the remote control to the TV. Not knock-down drag out fist fights. No, we employed more subtle and strategic methods, like hiding the remote from the others under a fluffy accent pillow on the couch. Back then, victory belonged to the one who could control what shows came out of that large and heavy box across from the sofa. And make no mistake about it; your symbol of control was control of the remote.

Yes, I know. Childish. But then again, there were more children in the home than adults. And by the way, why didn’t one of us without possession of the remote ever realize that you could change the channel by simply getting up, walking over to the TV and turning the clunky dial to what you wanted to watch? Take THAT, remote hoarder!

We really didn’t think that through.

My guess is there is probably less gamesmanship in most homes these days — at least as it relates to coveting control of the clicker.

And that is due in large part to the convenience of content consumption through tablets and mobile devices. Yes, as you read this blog, there are probably family rooms across America that have three or four people in the same room — all-consuming different TV shows on different devices. If you ask me, I think that’s great! My only caveat is that I hope those families are also carving out other quality time to actually talk to each other.

What we consume and why we consume TV programming on these alternative devices is the subject of a new study produced for the Council for Research Excellence. The full report called “TV Untethered” will be presented next week at a conference in New York. But dribs and drabs of the findings are being released in advance of the event.

In a news release, CRE reveals something that I’ll admit, surprised me a bit.

Here’s the lead paragraph from the news release:

“The majority of mobile TV viewing occasions — 82% of tablet and 64% of smart phone — occurs in the home, according to a new study. And the primary driver for consumers watching video on mobile devices is convenience — not to avoid advertising.”

I would have thought avoiding advertising would be a strong motivation for tablet/mobile viewing. At the same time, I am actually glad it’s not. After all, advertisers deserve to have their messages heard too. And many of them find creative ways to do so in these other environments – for example, a TV show is shown (in tablet/on mobile) with “limited commercial interruption.” A win/win for viewers and advertisers.

Also of note from the study, participants overwhelmingly chose dramas and comedies as top genres for tablet/mobile programming. News content was low on the interest level for viewers using these platforms but not surprisingly, news fared much better for viewers of traditional TV sets.

I still watch more TV on an actual TV, but I do find myself using my iPad from time to time. I have not yet watched a TV show on my smart phone.

I’d love to know your thoughts on the few facts I’ve shared from the CRE study and more importantly, please sound off and let me know how tablets and mobile have (or have not) changed your own personal TV viewing habits.

By the way, when I had control of the remote back in the day, my family was forced to watch CHiPs, Love Boat, Soap, Happy Days and Welcome Back Kotter.