Roy's Blog: Marketing
March 21, 2012
If you want to distinguish your organization from the Competitive Herd you must create VALUE for your Fans that is RELEVANT (something they really care about) and UNIQUE (something that ONLY you provide).
So how do you achieve Customer Relevancy? Here’s a formula for you: Individual Customer Relevancy = 1/Group Size. Customer Relevancy is inversely related to the size of the group the person is a part of.
Simply stated, the smaller the group you focus on, the more you can get to know that wants and desires of each individual in the group. AND the more relevant you can be to each person in terms of the value you create for them. If you are looking at a 1,000-person Tribe, you will typically know less about each individual in the Tribe than if you targeted a Fan Group of 10 people. It just makes sense.
The “average” customer doesn’t exist. Mass market myopia produces “round-the-corners” marketing where products are designed to satisfy everyone, But unfortunately these products end up being unremarkable, forgettable, common and lost in the blur of others in the market that we looking a customers the same way. Mass market mentality encourages customer irrelevancy.
Small is good. Smaller is better. They can be insatiable communicators. Small groups have effective and constant communication going on among the individuals in the group. They have Social Power in the sense that together, because of their connectivity, they are able to create a powerful word-of-mouth “epidemic” behind the ideas they like. Think about the marketing opportunities in a small, cohesive group of Fans that care about what you do and who are talking you up to others constantly. WOW!
Group Power in a marketing sense is being better understood today. Malcolm Gladwell in his excellent book, The Tipping Point, discusses the Rule of 150 which states that a group beyond 150 actually loses social power and tends to be ineffective in viral opportunities. So there’s a guideline. Go find a group of 150 Fans who love you, are connected with one another and who communicate with each other on a regular basis. Go deep with each and every one of them and learn their secrets to create personalized VALUE for them.
A BE DiFFERENT approach. A way to make your marketing UnFORGETTABLE. A winning formula.
- Posted 3.21.12 at 11:03 am by Roy Osing
March 17, 2012
A critical component of creating your Strategic Game Plan is to determine WHO you want to SERVE. This represents a key decision in the strategic development process as it defines the turf you intend to compete on and where you will allocate your scarce resources.
Rather than flog products to a mass market, you narrow your opportunity down to smaller groups of customers where you have unmatched competencies and provide value-based Offers that meet a compelling customer need.
The primary objective in the BE DiFFERENT marketing world is to maximize the percentage of the target customer’s business you hold as opposed to the portion of a mass market you possess with the products you sell.
If you have, say, 30% customer share, you have work to do; a significant growth opportunity exists. Understand customer secrets, create value Offers - premium priced of course - and provide them as tangible benefit of the deep intimate relationships you seek to build with them.
If, on the other hand, you hold 80% customer share, watch your back! You represent a growth opportunity for others and they will be targeting you to gain advantage. Your action plan? Focus on deepening the relationships you have with these customers. Build what I call barriers to customer exit by providing unsurpassed value.
At the end of the day, its all about FOCUS. You don’t have the luxury of unlimited resources to chase a mass market.
Select the customers who represent the highest potential opportunity for your organization, learn their innermost needs and desires and create holistic Offers for them that provide relevant and compelling value.
And, measure customer share continuously as the dash board measure of your success.
Cheers, Roy Osing
- Posted 3.17.12 at 09:18 am by Roy Osing
February 27, 2012
Invaluable things you can do to BE Cherished by your Fans
1. Mix it up. Constantly innovate. Give your Fans a different look (value packages, promotions, events, fun) as often as you can. The Dead decided what songs to play when they began each concert - songs “on the run”. Risky? Yes. Original? Yes. Did their Fans love them for it? YES!
2. Enable your customers to fulfill themselves. Do what THEY want. The key here is the “Serving” mentality. Find out what they want and desire and take them there. The Dead created a bubble for their Fans and allowed them to reach emotional highs.
3. Focus on the experience not the product. The Dead did not try to sell records. They wanted to create mind-blowing experiences for their Fans. And guess what? (They sold lots of records).
4. Save the best deals for your best customers. Using Special Promotional Deals to entice people away from their supplier is a fool’s game in any event. What makes you think that if someone takes your Special Offer they won’t leave you in a heartbeat if someone else gives them one as well? You can’t grow your business by catering to the “promiscuous” crowd of constant switchers. Furthermore, what will your loyal customers say when they find out that you are not offering the special deal to them? (I can see their taillights already). The Dead ALWAYS saved the best ticket prices, seats and deals for their Fans. The result? The most successful touring band in history.
5. Do the opposite of what your competitors are doing. Observe ‘em and do a 180. You can’t stand-out if you copy. The Dead allowed their Fans to record their music in concert. No other band did. The 180 strategy created uniqueness and remark-ability that made them unforgettable.
6. Communicate with your Fans incessantly. AND figure out how to make it easier for them to communicate with one another. The Dead were fanatics when it came to having conversations with their Fans before Social Media arrived. Their Fans responded by not only attending concerts and other Dead Events, but also by talking up The Dead to their friends. The Dead virus spread…
You can learn a great deal about business from the most interesting and surprising sources.
Check out The Dead.
- Posted 2.27.12 at 08:10 am by Roy Osing
February 16, 2012
Generic is no-name. Generic is undifferentiated. Bland. Indistinguishable in The Herd. Generic is the last place you want to be. The last spot you want to occupy in a competitive world. You won’t get noticed.
If you occupy a Generic Position in the market, look for an escape route. NOW before it is too late.
BE Relevant to someone. Sharpen the edges of what you provide to the market. Pick a target and create value for HER. Trying to be extremely relevant to the masses is very difficult if not impossible for most.
BE a Caregiver to someone. Trust that Caring will build trust and long term success.
BE Contrarian. Do something that is exactly the opposite to what others are doing. Get noticed. Be outlandish. Get talked about for your guts and way out innovative thinking. Give ‘em something to talk about.
BE a failure. Success rarely comes the first time. If you’re not making mistakes, you’re making a mistake.
BE patient. Moving from the Generic crowd to the Specialty suppliers does not happen over night. Baby steps. Nano-inches of progress. No silver bullets.
A Generic position is NO position. Anything is better.
Get on with it.
- Posted 2.16.12 at 09:33 am by Roy Osing