The Competitive Advantage

October 14, 2014

Find the right ‘partner’ to accelerate growth.

I connected with an old industry acquaintance last week… he’s with a mid-sized research firm based in the U.K. After a little social “chit chat,” I asked if there was anything I could do to help his business. To my surprise, he didn’t tell me he was looking for new clients, but instead replied that he was looking to ‘partner’ with firms in the U.S. that were looking to expand into Europe.

That is, if a U.S. firm was looking to expand its footprint across the pond… his firm has the experience and contacts to help. They come together on projects and both firms benefit. What a concept!

It got me to thinking… couldn’t we all use a project-based ‘partner’ like that every now and again? To take on projects we couldn’t or wouldn’t get otherwise… to take advantage of each other’s strengths and minimize our weaknesses… to temporarily merge resources to go after ‘big’ opportunities… to share contacts so that both parties grow?

September 30, 2014

Nurturing isn’t just for sales leads anymore.

If you work in this industry (or any industry, for that matter) for any length of time, you make all kinds of contacts… clients, vendors, people you meet at conferences, ‘friends’ on social media and so on. And for the most part, the people you meet are nestled in your CRM database or in your LinkedIn connections. You might also run into them in the fall during conference season and maybe they receive your e-newsletter every once in a while. And that’s about it.

But I received a reminder last week of the power of staying in touch – in a personalized way – to maintain and enhance relationships.

September 17, 2014

Churn baby churn! The loss of clients.

I was talking with a long-time industry friend of mine this week and he made a really interesting comment. He said, “For every new client we pick up, we’re losing one or two.” He called it their ‘churn rate.’

Yikes! With those kinds of odds, it won’t take long before they’re in really serious trouble.

It’s a good lesson for all of us… What’s your churn rate?

September 3, 2014

Has marketing become too complex? [chart]

Click on this link (https://bit.ly/MktgTechChart).

I came across this chart recently and my jaw just dropped… hundreds and hundreds of technology products and services – each focused on a particular niche within the continuum of marketing activities. And I am unfamiliar with a large percentage of them… and that’s saying something for an old marketing dog like me.

I think there are two big problems caused by the proliferation of all of this marketing technology…

August 12, 2014

Whoever said ‘Innovate or Die!’ was right!

My wife and I just got back from a walk around Franklin, Tennessee… one of this country’s great small towns, founded in 1799. It has the traditional, quaint Main Street (yes, it’s actually named that), lots of unique shops and restaurants and is jammed with visitors (both out-of-town tourists and locals) every weekend strolling the sidewalks. We’re lucky to live just 15 minutes away.

August 6, 2014

How do you respond to, “That’s just too expensive!”

Ooooh… the dreaded, “I like it – but it’s just too expensive.” Or “It’s not in our budget.” Or “Your competition is 35% less.” Or some other legitimate – or not-so-legitimate – excuse.

How do you respond?

If you’ve done a good job of presenting your services, deliverables and value, then there are really only 3 ways you can respond…

July 2, 2014

Great business quotes #5 – on taking charge of your business.

Thanks so much for all the positive feedback on the first four posts in this series on great business sayings… I appreciate all of the comments and ‘likes.’

Here’s a quick recap of the first four great sayings:

• “Activity breeds results.”
• “All things being equal… people do business with people they like. All things NOT being equal, people STILL do business with people they like.”
• “Sales prospects don’t care about what you can do… they care about what you can do FOR THEM.”
• “What gets measured gets done.”

Our fifth – and final – saying is…

Hope is not strategy.

May 28, 2014

“Should I advertise?

I got an email from a client last week. In it, she said that an industry magazine had reached out to her about advertising in an upcoming issue with an editorial theme that tied in nicely with her services. And her question was, “Should I advertise in that issue?”

I wish the answer was a simple one, but like everything else in Marketing… it depends!