Lying is Never a Good Strategy...especially in a deteriorating economy
Phone companies are notorious for stretching the truth...Centurytel is no exception.
Most of the time, lies aren't this obvious. Most of the time they're buried in ad copy, subtle tag lines or internal memos.
Unfortunately, bad times seem to bring out the overpromisers in droves. Please don't allow yourself to fall in this trap. Make the best out of what you've got. And, try to improve upon that every day.
Alltop
Alltop is Guy Kawasaki's recent and clever idea to provide an on-line round-up of rss feeds by subject. They've created a channel for each topic (new ones added daily) to make it easy to scan the latest posts for each blog or rss enabled site...something you really can't do with let's say Google Reader. I find it an efficient way to research and explore. Give the Hotels channel a look.
Story Processing
There's something about process and behind the scenes that gets people really interested...makes them feel like they're part of the story. Or, at least closer to it. The Food Network capitalized on the idea. So, did Apple. Biltmore Estate has some. As does Viking Cooking School.
Letting people in on a secret is very powerful...might just make the story worth repeating.
Care
Picked this up from Tom Peters' Thanksgiving post...
"Make no mistake, the keys to surviving and thriving, as individuals and organizations, will not primarily be the “out of the box” cleverness of our “strategic response,” but instead individual and organizational character as expressed by the depth and breadth of relationships throughout our individual or organizational networks."
It's his answer to the seemingly insurmountable, but doable, global economic crisis. Spot on. Ask yourself...are you the type of person or organization people gravitate toward and enjoy doing business with?
Even in tough times, the job remains the same...build a loyal audience of raving fans, that is, focus on relationships...showing people you care.
Happy Thanksgiving
Best Answer...How to Grow Your Business In Spite of The Economic Downturn
As a follow-up to my recent Fuel The Story post, I submitted a similar question (How Will You Grow Your Business In Spite of the Economic Downturn) to the Linked In audience. I received some excellent advice. While Linked In asks you to choose a Best Answer, the better approach here is to share salient points from all of the answers...thanks to all who took the time to respond.
- Utlilizing various aspects of Linkedin to get business exposure
- One of the most successful strategies for growth during a recession is to have genuine good relationships with your competitors. Some of them may go out of business and steer their business to you.
- Work as hard as you and your entire company possibly can at two things; first and foremost serving your existing customers better than anyone else can, and then becoming better than any of your competitors at the things their customers value most.
- focus on existing customers rather than reach out to new ones
- A few approaches for retaining existing customers:-
2) Execute well on whatever projects you currently have with them. This is likely to grow your business more than any other marketing gimmick.
3) Listen to the voice of the customer. Easier said than done! You never know when the next business opportunity arrives.
4) Finally, in this slowdown, if you can consider giving some discounts to the customer it will establish you as an innovative business which can go out to share the burden.
- I will offer a broader range of "options" for our clients in terms of packages, which will include a range of services from what clients may percieve of in the first place to them as very basic and what in point of fact package-wise shall be very basic to/up to at the highest level, what is more of a customized package.
- I will continue to be flexible if/when I feel it is necessary in terms of options, prices, services offered for all of our highly valued clients.
- the most important thing is having a plan
- brainstorm with coworkers or colleagues or mentors on what you can do to add value to your products or services
- Most important, staying positive, and keeping my branding going forward
- buy a firm that is under financial pressure and yet offers me value
- bring down my costs, luxury overheads, and improve performance of myself and all my people
- Rightsizing
- Diversification
- Marketing
- Pricing
Why The Resume is Dead
I've riffed about this before. Since then, I, was included in a group of business and HR experts who were invited to weigh-in on the subject by the Albany Times Union. I encourage you to read the interesting and varying perspectives (find them about halfway down the page on the Class conflict blog) on whether resumes remain effective. I found Brandon Mendleson's (the graduate student reporter who invited me) post a nice summary of the problem...and a pointer to the solution.
Static websites can't compete with 2.0 experiences in conveying what you might feel when using a product or service. Text doesn't work well without pictures. Sound and animation (video) brings a product to life. Why would you expect words in a word document to accurately portray your personal micro brand? To oversimplify, one dimensional tools don't work well in a three dimensional world...and, we're fast approaching the fourth dimension.
links for 2008-11-19
-
some good advice if you're faced with laying people off
Idea Flow
How many ideas can you handle each day? One, five, a dozen? Personally, I like a continual flow. It shows that the tribe is thinking, creating...perhaps even pushing me around a bit. I much prefer this bombardment problem to the occasional, well thought out (safe), perfect solution...which , by the way, is almost never as effective as one of those crazy, off the wall thoughts.
So, go ahead, send a hundred thousand comments and emails...I would enjoy hearing from you.
Fuel The Story- How To Grow Your Business In A Down Economy
Few of us will be insulated from the looming downturn. Demand is not likely to increase...for anyone anytime soon. It's already started in my neighborhood...Lazy Boy...out of business, Linens and Things...out of business, Circuit City and Sharper Image...going, going, gone. So, what to do. Lower price? Cut expenses? Lay-off staff? Perhaps. Unfortunately, these aren't new, big ideas...just about everyone will be doing it. And, if that's all you've got to compete with...you'll probably lose too. But, fortunately for you, while most of your competitors built bank accounts and milked the cow during good times, you saved some, reinvested in the business, fine tuned your craft, developed meaningful customer relationships and built something remarkable. Now, because you're not average, because you have a loyal audience that trusts you, it's your turn to smile. Now, you can step on the gas...fuel the story...give people new reasons to rave about you.
- Maintain Your Service Edge- Do more to move away from sameness. Greet people at the door, not from behind a desk or podium. Answer the phone like every call meant life or death. Give children more than crayons. Do more...otherwise, price is your only weapon...not good.
- Protect existing customer relationships...at all cost- Do not let a competitor lure your customer away with a "better deal". You know they'll try. Call them now, invite them to lunch, show them how much you care...ask them what you can do to help them through the down cycle...treat them like they're grown-ups. Point is...be attentive. And, do it first.
- Execute, Execute- You're already remarkable. Now, make it better. That doesn't mean spend a pile of money. That means...think, stretch, demand a higher level from everyone on your team.
- Add More Value- Not by lowering price. Instead, use interesting, meaningful packaging...things someone will get excited over and talk about.
- Sell- Don't Spin...Sell. There's a huge difference. Selling is an art...getting someone who wants to hear from you comfortable with an idea. It's not pestering everyone to convince them they can't find something better...maybe they're not looking.
Unfortunately, none of this works so well if you've been average all along and have no story to sell. Spin-ups and gimmicks aren't good plays, especially in bad times. So, if you're in that boat, sorry...it's probably too late.
Fear Filter
This is what happens to most brands...they start out with passion, creativity, big ideas and meaning. Then, companies do things to those promises and lose the edge. Too often, the customer experiences a watered down, manufactured compromise. Rarely is the action, the outcome, as good as the dream. Great leaders have a way of getting you from one side to the other...in tact.
Sunday, November 9, 2008 at 07:23 AM
The fastest way to lose in a down economy is to ignore the obvious...new demand is almost non-existent and your competition will lower price and do everything they can to steal your fan base. Steady as you go and trimming expenses will not get the job done. On the other hand, you have an excellent chance of survival if you can retain your current customer base without getting into a price war.
links for 2008-11-06
-
these sorts of sites will replace the dated Monster, HCareers, etc.
Execute or Die
In case you haven't noticed, these are not normal times. In fact, I'd call it down right scary...the alarm bells are ringing. I've heard from a number of my industry friends...leisure, corporate, group...all travel is already down and there's no sign of a quick recovery. Sorry, but it's true (if you know different, please call me, I need some good news). But this is no time to panic. Rather, it's time to execute...do what you do extremely well. Now is the time to worry less about creating new things, and more on protecting the precious customer and employee relationships you have worked so hard to achieve. Now is the time to perfect service and optimize efficiency through having the best and brightest on your team. Now is the time to make sure the telephone is answered correctly...every time. Now is the time to invite the meeting planner or travel agent to lunch...the one you've been putting off. Now is the time for everyone to get serious about keeping the fans you have by executing with some serious attitude and precision...you can't afford to lose a single customer. Now is the time to be remarkable...odds are your competitors soon won't be.
Boo!
Brand Disconnect
Little Clues
It's not always the big, obvious things that let on who you really are...that define your microbrand. Sometimes (more often than you might think), it's the little things, like...
- having a hotmail or aol email address
- having an email address like mycomany@sbc.net
- business cards printed on your home printer
- designs and colors used as wallpaper/background in the body of your email
- typing an email in ALL CAPS
- giving a powerpoint presentation with no pictures
- scuffed shoes
- bad breath
- crossing your arms a lot
- telling inappropriate jokes
- littering
- failing to return phone calls and email in a timely manner
- being unkind
Focus on the little things before moving on to logo's and websites.
Christmas Cards
I'm not one for writing Christmas cards...or any cards for that matter. I think it comes from having such bad penmanship...at least that's my excuse (my mother never bought it either). In any case, why not abandon or at least augment the hand cramp tradition with a video. Simple idea really...probably been done. Create a short "Merry Christmas/Happy Birthday/Insert any special occasion" video for each of your clients and post to Youtube. Get line staff involved, dress up as Santa...have some fun with it. I bet it gets passed around more than the paper version.
Management Decisions Are Average
Placed a take-out order with one of our favorite local eateries...Purple Cow (just a coincidence I think). Ten minutes after the order, our plans had to be changed. I called back, explained our predicament and offered to pay for the order no matter that we couldn't pick it up. I was place on hold...for about two minutes...of course, it always feels longer. A manager came on, listened to my situation...and said no problem, she would offer the food to some employees. Problem solved...good enough.
But, good enough isn't good enough. Not if your goal is to be remarkable. Having a problem, being placed on hold to speak with a supervisor is average. The first employee who took my return call had a chance to be remarkable...to take the matter into her own hands, own the problem and do something. Had her manager prepared her for that, given her the tools, authority and training, she would have been memorable...everyone wins.
We'll be going back to Purple Cow...it's better than most and fun for the kids. Could be so much better though.
Business is Business...
which is the problem with most customer communications. The bigger problem is that customers don't want to be treated like businesses. They want to be treated like people. Or, better yet, like people that matter. I just received this note from American Airlines. At first glance, it doesn't look kind or friendly...like something even worth reading. Correct...not only not worth reading, it made me feel like I don't matter. It made me feel more like I do when I receive that envelope from the IRS or how I feel just before jumping in line at the post office or DMV. If you're sending out letters like this, especially when taking something away...stop! Find a better, softer, nicer way to get your point across. Make a phone call, hold a special appreciation event...in the case of my letter, give me a mileage boost, perhaps 500 miles for every year I've been part of the club to show that you value my patronage. A letter like this one destroys everything you and all of your employees have worked so hard to accomplish...to turn me from stranger into friend and to keep me as a customer.
Upcoming Policy Change On Shorter Flights
Dear Michael Chaffin,
Effective January 1, 2009, we are discontinuing the minimum mileage
guarantee for non-elite status members for flights on American
Airlines, American Eagle®, AmericanConnection®, oneworld® member airlines, AAdvantage® participating
airlines as well as rail service and codeshare service booked under an AA flight number.
With this change, customers will earn AAdvantage miles equal to the
actual distance flown or the applicable percentage* of the miles flown,
and any associated bonuses will be calculated accordingly. Similarly,
elite status qualifying miles and points earned for travel on eligible
flights will also be based on the actual miles earned. AAdvantage
Executive Platinum®, AAdvantage Platinum® and
AAdvantage Gold® members are exempt from this change.
The new policy will apply to non-elite status members traveling on or
after January 1, 2009, regardless of when the ticket was booked or
purchased. Flights flown on or before December 31, 2008, will continue
to accrue AAdvantage miles under the current policy. For more
information, visit AA.com/AAdvantage.
Thank you for your business. We look forward
to seeing you onboard soon.
Sincerely,
Rob Friedman
President
AAdvantage Marketing Programs