1 "Aaargh! WHY did they tell me the cheque was ready when it wasn't!!! The business owner was not pleased about having her lunch meeting shortened in vain and her time wasted in going after a payment that she was unable to collect. Yes, the conversations among us then revolved around various ways and means used to collect payments from clients who delayed them, simply because they wanted to buy time. Not pleasant :(
2 "Hey I have a proposal for you! If you give us a 10% discount we'll pay you this week" "WHAT! but you had already signed a contract for the full amount and we've done the work you asked for!" Aha! Now this particular client was actually trying to wrangle a reduction AFTER getting what they wanted. Cheeky!
In both cases the suppliers were simply not going to do business with those companies again, AND they spread the news among their circles too. That's baaaaad publicity and shakes the consumer's confidence in the reliability of the brand's name, and so inviting their competitirs to enter their markets and steal a piece of the pie. Hmmmmmmm
3 "I'm really sorry we can't pay for the extras even though we know that it was an emergency. We got approval from the Committee for your original quote and can't change that now." "Well we can't deliver the rest if our payments are not covered" "We really value our relationship over the years and want to continue doing business with you, so please just tell us how we can make it worth your while, separately from this contract?"
Wow! Now this shows appreciation for the Brand's services doesn't it? And the compensations that were arranged were high-value meetings with new clients accompanied by glowing testimonials. The promise of a higher worth than was sacrificed loomed ........ hehehe. How about that for Brand Value eh?
Are YOU offering something your customers are willing to stay with you for? That's what Brand Building is about - customer loyalty and their bringing new customers to you too! Nice eh? Want some ideas on how to keep your customers in and your competitors out? Call me at 6-03-21697704 and we'll start work on that.
BRING ME THE BRAND AND I'LL INCREASE ITS PROFITS!
Showing posts with label branding. Show all posts
Showing posts with label branding. Show all posts
Sunday, January 23, 2011
Sunday, September 12, 2010
What do you mean it's not about the $!!!!!!
Mr. International Product Manager was most perplexed, and quite honestly so were the rest of us! He was part of my class on Branding Strategies and had the most unusual issues - his company was cash rich, BUT the expenditure was not allocated towards making profits. You know what? in fact, what stumped all of us was that he has actually been tasked with providing support to small companies that were competing for the same markets he's in! Can you believe that, hmmmmm??? The directions from his principal office were crystal clear - no compromising on his deliverables! He was in a fog, and so was I :(
But aha! As the class progressed and we went deeper into discussing market postitioning, I was able to analyze his responses and translate them into what the principal office was really after. You see, their product/service was research (so the Product Manager said) and that is what he had been promoting all along. BUT what had not been so clear was that the research being done on local herbal products was not an end in itself. And that's why his task was not to focus on bringing in the profits, but on profitability - NOT the same thing. Actually, his role was to use his marketing budget to enhance the Brand Credibility (profitability) of the smaller companies so that they could focus on leveraging on his support to plan their Sales i.e. profit campaigns for distributing the herbal products. His role is to influence their customers as opposed to bringing in customers for them.
Why? Because his job was to represent a global name, whose market position is to help others to be profitable, that's why he was 'selling' his company's research. Well, once we had honed in on the essence of his Brand, we could derive action plans for him to meet his sales targets. You see, Marketing (profitability) is about resulting in sustainable sales (profits) that bring in repeat business; NOT just the quick $ transactions. Mr. Product Manager left the class a very happy man :)
Are you positioning your Brand towards profits (quick sales) or profitability (repeat business)? I'd be glad to offer some suggestions on how you can leverage on your strengths to bring in repeat business, and so gain you more time for doing other things you'd like to. Just call 6-03-21697704 and we'll get started :)
BRING ME THE BRAND, I'LL INCREASE ITS PROFITS!
But aha! As the class progressed and we went deeper into discussing market postitioning, I was able to analyze his responses and translate them into what the principal office was really after. You see, their product/service was research (so the Product Manager said) and that is what he had been promoting all along. BUT what had not been so clear was that the research being done on local herbal products was not an end in itself. And that's why his task was not to focus on bringing in the profits, but on profitability - NOT the same thing. Actually, his role was to use his marketing budget to enhance the Brand Credibility (profitability) of the smaller companies so that they could focus on leveraging on his support to plan their Sales i.e. profit campaigns for distributing the herbal products. His role is to influence their customers as opposed to bringing in customers for them.
Why? Because his job was to represent a global name, whose market position is to help others to be profitable, that's why he was 'selling' his company's research. Well, once we had honed in on the essence of his Brand, we could derive action plans for him to meet his sales targets. You see, Marketing (profitability) is about resulting in sustainable sales (profits) that bring in repeat business; NOT just the quick $ transactions. Mr. Product Manager left the class a very happy man :)
Are you positioning your Brand towards profits (quick sales) or profitability (repeat business)? I'd be glad to offer some suggestions on how you can leverage on your strengths to bring in repeat business, and so gain you more time for doing other things you'd like to. Just call 6-03-21697704 and we'll get started :)
BRING ME THE BRAND, I'LL INCREASE ITS PROFITS!
Monday, July 5, 2010
Are you rowing or sailing your business?
“So, did you get 100 referrals?” Colleague asked. I replied honestly “A potential worth of at least 100 thousand in business done”. Sigh of contentment. A group of us business people were basking in the afterglow of a powerful business-matching session, thrilled by the results. But you know what? We wanted differing outcomes, according to our particular business strategies.
Colleague is an internet marketer who engages in automated strategies attracting hundreds and thousands to buy from websites instantly. For him the number of transactions is the end result that leads to high profitability. Automation enables sailing through quality delivery of high volumes, and that is his brand’s value offering.
I am a Consultant-Trainer who looks for a few select transactions that deliver high value. The buying is not immediate and needs to be thought through. Quite honestly, receiving 100 referrals would have overwhelmed me. I would have had to either dilute (by outsourcing) or refuse some of them. Why? Because my brand’s value offering is the unique strategy that is carefully designed for each client to position their brand apart from competitors and involves analysis, intellectual property and not repetition. Quantity reduces my profits if the quality cannot be achieved.
Colleague and I belong to a 25-year old international referral organization BNI known to be the best of its kind. That’s because its focus is on members giving each other referrals based on credible relationships. It is a marketing platform that creates a pipeline of business (which means pleasantly sailing caressed and driven by the wind) and not a sales station (which means constantly rowing to keep going).
What’s the cutting difference? Branding is a marketing strategy. Marketing drives sustainable sales that ensure high profitability in the long term. Sales strategies outside of marketing plans result in an aerobic puff-and-pant rowboat effort that needs to be kept up and often results in burn-out, high staff turnovers and quick-changes that dilute brand offerings, just to stay in business.
Both Colleague and I rely on strategic marketing plans which promote our brands, cost little to design but result in high profitability when they are implemented well. They enable us to allow the seasonal winds to move us on track towards anchoring at the harbors of our business goals. What’s your branding strategy doing for YOU?
To get tips on how to strategize your business for more profits, call (603) 21697704. I'd be glad to offer suggestions on how you could fine-tune what you are doing at the moment, so that you get the levels of profitability that you want for your business.
BRING ME THE BRAND, I'LL INCREASE ITS PROFITS!
Colleague is an internet marketer who engages in automated strategies attracting hundreds and thousands to buy from websites instantly. For him the number of transactions is the end result that leads to high profitability. Automation enables sailing through quality delivery of high volumes, and that is his brand’s value offering.
I am a Consultant-Trainer who looks for a few select transactions that deliver high value. The buying is not immediate and needs to be thought through. Quite honestly, receiving 100 referrals would have overwhelmed me. I would have had to either dilute (by outsourcing) or refuse some of them. Why? Because my brand’s value offering is the unique strategy that is carefully designed for each client to position their brand apart from competitors and involves analysis, intellectual property and not repetition. Quantity reduces my profits if the quality cannot be achieved.
Colleague and I belong to a 25-year old international referral organization BNI known to be the best of its kind. That’s because its focus is on members giving each other referrals based on credible relationships. It is a marketing platform that creates a pipeline of business (which means pleasantly sailing caressed and driven by the wind) and not a sales station (which means constantly rowing to keep going).
What’s the cutting difference? Branding is a marketing strategy. Marketing drives sustainable sales that ensure high profitability in the long term. Sales strategies outside of marketing plans result in an aerobic puff-and-pant rowboat effort that needs to be kept up and often results in burn-out, high staff turnovers and quick-changes that dilute brand offerings, just to stay in business.
Both Colleague and I rely on strategic marketing plans which promote our brands, cost little to design but result in high profitability when they are implemented well. They enable us to allow the seasonal winds to move us on track towards anchoring at the harbors of our business goals. What’s your branding strategy doing for YOU?
To get tips on how to strategize your business for more profits, call (603) 21697704. I'd be glad to offer suggestions on how you could fine-tune what you are doing at the moment, so that you get the levels of profitability that you want for your business.
BRING ME THE BRAND, I'LL INCREASE ITS PROFITS!
Subscribe to:
Posts (Atom)