Wednesday, August 31, 2011

Another Low Volume Rally

I had my whole post typed up this morning, and then somehow Blogger lost it and it was gone. I was too busy to retype the whole thing, so I'm just posting some comments at the close.



Today's rally was constructive, even as rallies continue to come on lighter volume for the most part. Additionally, the rally has been led by defensive type names, not the traditional high quality growth names you normally look to for leadership.



There were some solid economic reports today with a good ADP Employment report and a better than expected Chicago PMI report. The big test comes on Friday with the monthly govt. payrolls report. I tend to think they will be disappointing, but we shall see.



Gold prices were higher this morning, but finished lower at $1827; Oil prices finished flat near $88.91.



The 10-year yield got a little bounce, rising to 2.21%; and the VIX closed down -4% to 31.60. But the fact that it is remaining stubbornly above the 30 level makes me think that we haven't seen the last of the volatility days in the market. Next week, after the Labor Day holiday volume levels should pick up again.



Trading comment: No changes to my near-term strategy. I don't want to be lulled into a sense of complacency with these low volume rallies. SPX 1250 still looms as big resistance. So I am remaining cautious, and continuing to trim cyclical names and lagging positions.





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Why Old-Fashioned "Customer Service" is Still the Key to the Customers Heart

October is Customer Service Month - Elizabeth Kraus
Excerpt, “October is Customer Service Month” from 365 Days of Marketing
365 Days of Marketing is available on amazon.com in book and digital formats.


According to a 2011 American Express Global Customer Service Barometer (a survey done in the USA and 9 other countries relative to attitudes and preferences toward customer service), 70% of Americans said they would be willing to spend almost 15% more with businesses they believed (really) provided excellent customer service. With such an indicator, you would think that businesses would make customer service a top priority; but in the same survey, 60% of respondents said they don’t believe businesses are making customer service a high priority. In fact, 26% said they think businesses are actually paying less attention to service.

When was the last time you asked customers how their experience with your business stacks up against their expectations? When was the last time you asked what they expected, or what constitutes exceptional service to them? When was the last time you received a complaint, a compliment—or any feedback at all related to customer service?

Maybe many business owners simply don’t understand what customer service ‘is,’ or maybe they misinterpret or fail to deliver what it is their customers really want.
When you say the words “customer service,” what comes to mind? A telephone service agent, headset in place, waiting to take your call or working on a long queue of calls; or maybe it’s the smocked sales associate standing behind the counter at the far end of the building, just under a specially titled “Customer Service/Returns” sign. If any of these images constitutes what customer service is to you, or is representative of the people responsible to provide it, your definition needs some work.

According to Wikipedia.org, “Customer Service is the provision of services to customers before, during and after a purchase,” so far, so good, there’s not much there to change the basic understanding held by most people. But the description goes on to reference Efraim Turban’s 2002 book, “Electronic Commerce: A Managerial Perspective” where he says that customer service is “a series of activities designed to enhance the level of customer satisfaction—that is, the feeling that a product or service has met the customer expectation.”

Whoa—that’s a whole different take! According to this line of thinking, the definition of customer service is not contained in the actions of a person taking a phone order, fulfilling a web order, receiving a return or complaint, performing a service or selling a product. Customer service isn’t an action, it’s a process—an intentionally designed system—meant to enhance the customer’s experience and which influences whether a customer feels satisfied or dissatisfied by a product or service.

A sales transaction, product or service on its own is not enough to produce customer satisfaction. You must systematically examine and strategically improve each and every aspect of the customer experience, at every possible touch point. You must create a system designed to enhance the customer experience. Do you know what that really means?

According to thefreedictionary.com, en-hance (verb) means:
1) to make greater, as in value, beauty, or effectiveness; to augment
2) to provide with improved, advanced or sophisticated features

It’s not just about making the customer experience “better.” It’s about making it greater in value, bigger (augmented) and/or more sophisticated – more than that of the competition and more than the customer expects – so that it stands out to the customer as inherently and uniquely extra-ordinary. To do that, you must thoroughly know and understand your customers and you must train, educate and empower employees to respond to requests, complaints, unique situations and individual customer’s needs and desires.

If you wonder why people don’t always agree with the claim you make that your business provides “exceptional customer service” or why the customer experience at your business is not helping you gain and retain clients, it’s because what you have in place is not actually enough to influence the customer to feel exceptionally satisfied.

The level of service and attention you provide to customers may be acceptable; but if it’s not more than expected, and doesn’t set you apart from the competition, it’s not good enough!


Subscribe to my e-mail newsletter which always includes original content and links to more articles that will motivate, inspire and challenge you. It's free, you can opt out any time, and I probably won't bother you more than once each week!

It's going to be a great year!

Elizabeth Kraus – 12monthsofmarketing.com

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Tuesday, August 30, 2011

Build Business, Your Reputation and Give Back by Going Back to School

For the last month we’ve all been bombarded by print, TV and radio ads whose sponsors claimed to be the ultimate resource for parents and students going back to school. Now that the kids are all equipped and back in the classroom, it’s time to change the way you think about going back-to-school.

Unlike these retailers, your business can provide real value to the teachers, students, coaches and parents in your community in ways that can boost your bottom line, build your reputation and give you the means to give back where it counts the most, right in your own neighborhood.

To that end, I pulled a whole page out of my new book, 365 Days of Marketing, to suggest a whole host of ways you can build business while going back to school this year, and they're all featured in my post on the Bonney Lake-Sumner edition of the Patch [CLICK HERE].


If you like this, subscribe to my e-mail newsletter which always includes original content and links to more articles that will motivate, inspire and challenge you. It's free, you can opt out any time, and I probably won't bother you more than once each week!

Elizabeth Kraus – 12monthsofmarketing.com
365 Days of Marketing is available on amazon.com in book and digital formats.

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Consumer Confidence Drops To 2-year Low

The market is lower in early trading, on the heels of some profit taking and a disappointing consumer confidence number. The S&P 500 has rallied more than 7% in the last five sessions, so traders who were buying last week's lows actually have some profits to take.



The market was down only slightly at the open, but the Consumer Confidence number came out much weaker than expected. Consumer Confidence Index for August fell to a 2-year low of 44.5, down sharply from July's level of 59.2. I tend to view consumer confidence as more of a coincident indicator as opposed to a leading indicator.



The other big news event today will be the release of the recent FOMC meeting minutes. Investors will be looking for hints about additional policy adjustments and what tools the Fed might use if it decides to become more accomodative with monetary policy.



Asian markets were higher overnight, except China which has lagged in recent days. Oil prices are higher near the $88 level; and gold is also higher around $1831.



The 10-year yield is lower today, falling back to 2.18%; and the VIX index fell below its 20-day average yesterday, and is hovering just below the 33 level currently.



Trading comment: The chart below shows the recent bottom for the SPX at the 1120 level. This level was tested several times, but ultimately held. The plunge in stocks was met with some extreme spikes in bearish sentiment. That, along with sharply oversold readings helped the market put in a short-term bottom. But that is different from a longer-term bottom.



Markets rarely make "V" bottoms, where they spike back up to their former highs after just one plunge lower. Far more often, markets have a retest of those lows at some point. If those lows hold the next time around, that can lead to a more sustainable bottom. And if they don't hold you can see the market trade to lower levels. That is why it is too early to call a bottom here. But it doesn't mean that the S&P can't keep rising until it hits more resistance. I could see the SPX working its way back up to 1250, and even that wouldn't necessarily change my intermediate-term outlook.









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Monday, August 29, 2011

Monday Morning Musings

The markets are getting a very nice bounce on the heels of the 5% gain last week, the best weekly performance for the market in eight weeks.



Asian markets were higher overnight, except for China which was lower. Europe markets were also higher this morning after two Greek banks decided to merge.



Also, the damages from Hurricane Irene at first glance appear to be less that initially feared, and that is helping boost financials stocks, especially insurance stocks. The positive boost to financials has helped the S&P 500 touch the 1200 level.



The dollar is flattish currently, and commodities are mixed. Oil prices are higher near $87, but gold prices have moved from positive territory back into the red, currently trading around $1793.



The 10-year yield is getting a bounce back to 2.26%. And the VIX is down -6% right now to 33.3. That's below its 20-day average, but still above the psychological 30 level that I would like to see breached.



Trading comment: There continues to be some skepticism about this rally, as evidenced by the elevated VIX readings. Other sentiment indicators I looked at over the weekend continue to show extreme bearish readings. This could play into the hands of the bulls, as the unwinding of some of these bearish bets could keep the market higher. With NYC still a mess today from the hurricane, I expect volume levels to be light. But overall the action from last week was constructive, and I think this bounce could continue to carry higher in the near-term.

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Style, strategy and marketing savvy newsletter - August 29

Read this issue and get all the links online: CLICK HERE

The August 29, 2011 Style, Strategy and Marketing Savvy newsletter contains:

Original content -


- Strengthen customer relationships with this 45-day rule (beer me!)
- Does employee talent outweigh the trouble that trouble-makers bring?
- You might just have a job if . . .
- Some things you probably don't know about me


and more success strategies -

- Sixty four awesome Facebook marketing techniques
- How to turn stress into an asset
- How over-branding kills profits and drives away consumers
- Sixteen business tips from an ex-mafia man
- Five building blocks of writing good marketing copy
- Style: the perfect fishtail
- Two new trends that could bring new revenues to your service-based business


Alethea Stockton, small business owner on 365 Days of Marketing:
"Your book is great. I will be picking some things to give a review on. you are amazing at what you do. You simplify if for the rest of us and give us a fool proof method. you rock!"

Don't miss next Monday's e-mail newsletter which will include more original content and links to more articles that will motivate, inspire and challenge you. [Click here] to subscribe. It's free, you can opt out any time, and I probably won't bother you more than once each week!

Elizabeth Kraus – 12monthsofmarketing.com
365 Days of Marketing is available on amazon.com in book and digital formats.



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Friday, August 26, 2011

Don't Look For Bernanke To Save Us

The market opened under some selling pressure this morning after yesterday's selloff and a weaker than expected GDP report this morning.



Q2 GDP growth was revised downward to 1.0% from an earlier estimate of 1.3%. So far the first two quarters of 2011 are showing pretty weak growth. I sure hope we see a bit of a pickup in the second half.



But the big news event of the day was Bernanke's speech at Jackson Hole. For the life of me, I don't think anyone actually thought he was going to surprise the world with an announcement of new QE3 measures. More likely, he would reiterate that the Fed will remain accomodative, and that they have additional tools to employ should conditions continue to deteriorate.



True to form, that's about exactly the message he gave. Initially, the market swooned following his comments. But then I think rationality set it, and the market has since rallied all the way back to positive territory. There is still a lot of time left in today's session, so we will have to see how we close. But so far this is pretty constructive action.



Investors should realize that the Fed has remained extremely accomodative, and eventually this should begin to kick in. Mortgage rates have come down a lot, and there are rumors that the govt. might sponsor some sort of national refi program. Getting a bottom in the housing market would help a lot. Also, Obama is supposed to announce some new jobs program soon. That would help as well, as lowering the unemployment rate would improve consumer sentiment. But for now the focus is likely to remain on the problems in Europe.



Asian markets were mixed overnight; the dollar is lower today; oil prices are flattish near $85.35, and gold prices are higher at $1778.



The 10-year yield is lower to 2.19%; and the VIX, which has remained stubbornly high, is down 9% currently to 36. It was never able to get below that 20-day average support level I talked about earlier this week. Hopefully next week it can close below 35 and work its way back down to 30. That would be the first signal that traders expect this heightened volatility to diminish somewhat.



Trading comment: The S&P 500 has bounced back roughly 4% from last week's closing levels. Moreover, despite all of the choppiness the SPX has held above its recent lows around 1120. So for now it looks like that 1120 will hold as a successful floor, and the SPX could lift further from these levels. That doesn't mean we are out of the woods entirely, but that we might be able to rally to higher levels before we get some sort of retest of the recent lows. If we do see a further rally, I will likely continue to employ the same strategy of lightening up on lagging stocks, and staying defensive with our index hedges.

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Friday's 5 - Marketing Shorts and Sweets

I have a sneaking suspicion that I should make spending time in the sun tomorrow a priority; it just feels like the thing is coming to an end.

Just in case anyone else is stuck at the computer, here are some really great articles to help you pass the time until the weekend starts.


"Everything in life has a beautiful ending. And if it's not beautiful, then be sure it's not the ending."



[READ] Shut up and get a life: 17 pieces of kick-butt advice
If you prefer some cold, hard reality in your comfortable life, Larry Winget's self-help book Shut Up, Stop Whining & Get A Life might be exactly what you need to jump start your not-so-successful career. Here are 17 kick-butt approaches to a better life and why most people don't have one. And if you don't need this book, chances are, you know someone who does!


[READ] Why Mummy Bloggers rule the world
Annabel Candy writes: Being a blogger is looked on as sad and bloggers get a bad rap from all kinds of places. A case in point is the joke about bloggers with a picture of a monk and a caption that reads something like this: "Bloggers were invented in 300 AD and originally called "monks". Like bloggers, monks had shitty haircuts and never got laid."See what I mean?

Being a mummy often isn't looked on highly either. Mums are generally not perceived as a useful part of society. Some people tend to think of mothers as women who aren't making a useful or valuable contribution to society. Being called a 'mummy blogger' could be the kiss of death on my street cred, not to mention my personal branding, professional respectability and the reputation I'm building on my blog as a trusted source of information for empowering tips for life and work.

While the popular press remains skeptical about blogging big companies are taking mummy bloggers seriously. That's because women traditionally hold the purse strings and control substantial portions of the total household income. One influential mummy blogger has the power to sway female readers who respect and value her opinion. (There’s more, and it’s great stuff – click here to read it all).


[READ] How people use Smartphones
How are people using smartphones? That’s a question Google asked in their ThinkInsights study. Here are some of the answers.


[READ] 5 myths employees believe about Facebook
Business owners must assume that their employees are using Facebook while on the job. Social media is not the problem. Bad judgment might be, however. With that said, as a business owner or employee, you ought to address the following five myths that many employees believe.


[READ] 20 ways not to look like a social media fool

It seems that we fill every waking moment on one social-media site or another. Waiting for an elevator? Send a tweet. On the toilet? Check Facebook. Avoiding actual work? Get sucked into a YouTube vortex of "Macho Man" Randy Savage videos.You wouldn't choose to embarrass yourself by releasing your bowels in public, but things are a bit more complicated online. So by sharing my tips, I hope to help you avoid taking virtual dumps all over the social-media town square.

That's it, hope you had fun, and have a great weekend! Don't miss Monday's e-mail newsletter which will include original content and links to more articles that will motivate, inspire and challenge you. [Click here] to subscribe. It's free, you can opt out any time, and I probably won't bother you more than once each week!

Elizabeth Kraus – 12monthsofmarketing.com
365 Days of Marketing is available on amazon.com in book and digital formats.









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Thursday, August 25, 2011

Steve Jobs and Scottie Pippen

I am sad to see Steve Jobs leave the CEO position at Apple (AAPL), although this was not unexpected. Jobs has been on medical leave since January, and has been battling cancer for some time now. I wish him all the best, and hope he will continue to contribute as Chairman.



As to the questions of whether Tim Cook can step into the shoes of Steve Jobs, I think that is an impossibility. There are few executives on earth like Steve Jobs. He has been both a brilliant visionary, a tech artist, and a superb engineer. His success has been so superb that anything will pale in comparison. Jeffrey Immelt was a fantastic executive at GE, but after taking over for Jack Welch it was nearly impossible to live up to expectations.



Sure Tim Cook has been well groomed for years. Jobs knew this day would come, so he had a responsibility to both groom Cook and prepare the company for this day. But Tim Cook is more like Scottie Pippen when he played with Michael Jordan. Pippen was a fabulous player with the Bulls, and shared many championships. He was capable of executing fantastically in that offense, but that was alongside Jordan. Take Jordan out of the picture, and Pippen couldn't carry a team and elevate them to the same level.



So I think it is unfair to keep asking if Cook can replicate Jobs' success. Apple's product road map is pretty well laid out for the next couple of years. I think Cook will do a fine job executing on these plans and continuing to grow the company nicely. It's the longer-term picture that I'm worried about. It's the vision that Jobs possessed. It's the maniacal attention to detail; the perfectionist attitude; and the willingness to navigate unchartered waters.



I trimmed a few shares of AAPL today, but it remains one of our largest holdings. I still think the stock is undervalued relative to its earnings power and growth rate. So I think it is too cheap to discard. I plan on keeping it as a core holding, and trading around it from time to time. But to act like nothing has changed at the company is being a bit naive.



long AAPL

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Does employee talent outweigh the trouble that trouble-makers bring?

I told my doctor that I broke my leg in two places. He told me to stop going to those two places. (Henny Youngman)

It's a ridiculous concept; that we would return time and time again to a place where we know we are going to get hurt, but in business, we do it all the time.

You can spot a broken leg via x-ray (and sometimes even without one); but the injuries I'm talking about don't show up to the naked eye, which may be why we neither treat nor work to prevent them. What am I talking about? We constantly allow individuals within our businesses to 'injure' or even 'kill' initiatives, employee morale, customer relations and more.

Under the auspices of loyalty to employees or the value we perceive they bring to the business, we overlook, make excuses for, tolerate and even facilitate cynicism, narcissism, gossip, turf wars and negativism from certain employees.

You know who I'm talking about — employees who regularly pooh-pooh your marketing and event ideas, who belittle, cut down and minimize the accomplishments of others out of envy, who flaunt their disdain for rules by ignoring the standards you try to set for employees in the areas of appearance, timeliness, productivity, retail sales, etc.

If there were such a ridiculous place in your life (like, say a grocery store) where you knew you would always receive an injury, how often would you go there? How many times can you allow others to injure coworkers, harm your business or do damage to your customer relationships?

Were you to do a cost-analysis of this type of behavior, you would likely find that the damage these individuals are doing to your business, to their co-workers, and to your customer-relations far outweighs the (real or perceived) value you believe they bring to your business.

Employer loyalty is a wonderful quality; but is it fair to extend loyalty to individuals who do not return that spirit through their actions in support of your initiatives, in support of their co-workers, in productivity and professional growth? Not only is it unfair to you and to your business, it is also unfair for the other individuals who have to work with them, and, ultimately, it is extremely unfair to expect your customers to extend loyalty to you when the services and care you provide for them are compromised by these individuals.

But (you say) we're talking about people, and people aren't all good or all bad, and some of them have great skills and among their clientele are long-time clients my business can't afford to lose.

Yes, we are talking about people and yes, many times highly flawed people are also incredibly talented; but let me put it another way.

Let's say you have an acquaintance that cooks a wonderful lunch, the best lunch you've ever had. But every time you go there for lunch, you are assured of receiving a sucker punch to the gut, a kick in the chin, or a slap in the face. How often would you want to lunch there, no matter how spectacular the food? This is how it feels for other employees when they are the target of belittling comments or gossip from other employees. This is how it feels for customers when they are mistreated while at your business or on the phone with that one bad apple on your customer service team. This is how you probably feel when you go into a staff meeting excited about a new idea, only to have the negative person on your staff blow it all to pieces.

Furthermore, as you have probably heard before, you should reward people who consistently demonstrate behaviors that you want more of. By rewarding those who exhibit defiance, discourteous behavior, disdain and negativity, you are ensuring that you will receive more of the same behavior. You are also demonstrating to other employees that these techniques work; not only are you discouraging employees who are excited about their work and your business, you are also showing those who may have similar negative inclinations that this behavior is acceptable and effective.

Am I advocating a slash and burn employment policy? No. But I am suggesting that those rare individuals who cannot be persuaded to bring a spirit of positive support (or at least neutrality!) to the workplace where your marketing and client-relations ideas are concerned, who will not endorse your policies and standards, and who regularly hurt other employees or even offend clients themselves, are in the wrong place.

First, they are in the wrong place on the inside. They should be in a profession and in a business that they can endorse intellectually and philosophically. They should be excited about their work and should be just as enthusiastic to try a new marketing technique or hold a new event as they are to do something new that they personally enjoy. They should be able to extend (sincere) congratulations and encouragement to their co-workers in the same way that they would want to be supported. They should be in a place where they are comfortable adhering to standards of dress, conduct, and interpersonal communications.

If not, then they are in the wrong place on the outside, and may need to find another organization in which to work. Your job, as a manager of people is to encourage them either to discover whether they can change 'where they are' on the inside, or to change where they are on the outside (and seek other employment). Your obligation to sustain and grow your business, and to protect and develop your other employees outweighs the obligation you believe you have to retain an employee who is in 'the wrong place.'

You might also enjoy the employee-management tips in my guest-post on bloggingbistro.com [CLICK HERE] to read "Beer me! Use the 45 day rule to build and strengthen relationships."




Elizabeth Kraus – 12monthsofmarketing.com
365 Days of Marketing is available on amazon.com in book and digital formats.

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Wednesday, August 24, 2011

Beer me!! Use a 45-day rule to build and strengthen customer relationships

Heyya! I wrote a guest post for bloggingbistro.com (I love that site) titled, "Beer Me!! Using a 45 Day Rule to Build and Strengthen Customer Relationships" -- I think you'll love both the story behind this one as well as the ideas. Incidentally, this is based on an October 6 - Beer Day entry, straight out of 365 Days of Marketing!

[Click here] or cut and paste the link below into your browser. It's going to be a great year!

http://www.bloggingbistro.com/how-to-use-the-45-day-rule-to-strengthen-relationships-with-your-customers-guest-post/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+BloggingBistro+%28Blogging+Bistro%29



Elizabeth Kraus – 12monthsofmarketing.com
365 Days of Marketing is available on amazon.com in book and digital formats.

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Gold Prices Ease From Record Highs

The market was nicely higher in early trading, but it looks like traders are selling into the lift, and the rally is fading as of this post.



Financials are leading the early action, after Bank of America (BAC) was upped to a Strong Buy at a tier one firm and the stock is up more than 8%. Other large banks are higher as well.



But utilities are also strong this morning, and that group is often considered very defensive. So it's not the usual group of growth stocks leading the market this morning, although many of them enjoyed large percentage moves yesterday.



Gold prices have sold off sharply from their recent record highs. After touching $1900 a few days ago, gold prices are down another $75 today back near $1780. People are now asking whether the run in gold is over. My take is that things just got overheated in gold, and now it is going to have to go through a consolidation period. So just be patient, and let gold build another base. There will be plenty of time to add to positions later on.



In economic news, the July durable goods report rose a much stronger than expected 4.0%. Moreover, orders for the prior month were revised higher. This probably lessens the calls for an immediate recession, but let's see how the GDP data looks later this week.



Asian markets were lower overnight after Japan had its debt rating downgraded one notch by Moody's. Japan has the biggest debt-to-GDP ratio, and the slower growth in the country isn't being helped by the recent strong rise in the Yen.



The dollar is flattish today, and oil and gold are once again mixed. Gold is lower, while oil prices are up a bit near $86.25.



The 10-year yield is seeing a nice little bounce near 2.20%. The VIX is down only slightly to 36.0. It is testing its 20-day support, a level I would like to see it break below to signal the market could rally more.



Trading comment: Of course, how the week ends really hinges on the combined GDP report Friday couple with Bernanke's comments at Jackson Hole. I have said I think expectations are running too high for him to pull another rabbit out of the hat. I think he will say that the Fed will remain extremely accomodative, but I doubt he will explicitly unveil a QE3 program. Hopefully investors realize this and stocks won't selloff after his speech.



The SPX held its recent lows at 1120 this week, and could simply be building a short-term base from which to move higher over the next few weeks. What happened to August being a slow month where portfolio managers could go on vacation?!??



long BAC

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Noon EST / 9 AM PST - Listen Online!

Noon EST / 9 AM Pacific -- Please listen in online when I'll be the featured guest for 30 minutes on the Hair Artist Association's internet radio talk show. I'll be sharing marketing know-how, but I'll also be talking about the individuals in the professional beauty industry that absolutely changed my life, and why I developed 12 Months of Marketing calendars and books as resources to help strengthen the beauty industry.

[Click here] for the link to the show, or cut and paste the link below into your browser.

http://www.blogtalkradio.com/hairartistassociation/2011/08/24/elizabeth-kraus-beauty-industry-marketer-educator-author

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Marketing By Numbers.



Many people are commenting about the staggering innumeracy that features on today's cover of the UK's largest free newspaper.



Now, they could be suggesting that the whole is greater than the sum of the parts and that the more you eat the more delicious it becomes, but that sort of counting only works in effectiveness awards papers.



But it is important and not just because it will get passed around the internet. It's important because the people who usually are numerate i.e the finance department will yet again use it to diminish the credibility of those expensive arty marketers.



Marketing is not just about selling. It's about understanding business. If you don't understand numbers, you cant understand business and you should get your coat.



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Tuesday, August 23, 2011

Can Stocks Add To This Bounce?

The market has enjoyed a nice rally today, and the Nasdaq is up more than 3% heading into the last hour of trade. The bullish sentiment carried over from both Asia last night, and Europe early this morning. Both regions saw equity market rallies from oversold levels.



The dollar is lower today, but commodities are mixed. Oil is rallying back near $86, and energy stocks are leading the action so far today. Gold prices are finally seeing a down day, with the yellow metal off more than $50 today near $1837.



Financials are lagging the action, as BofA remains under pressure, and Goldman (GS) can't seem to rally today either. Volume in GS is very high again today.



If short-covering continues, there could be continued buying pressure into the close. The real question is whether or not this turns out to be a one-day wonder, or if this rally can carry the markets higher.



The 10-year yield hasn't rallied much, hovering at a still low level of 2.13%. And the VIX is down 12% currently, falling below the 40 level to 37.18 as of now. That's a good start. I would like to see it break its rising 20-day average which will come into play around 33.50, but bulls would really like to see it below 30 again.



Trading comment: While it "feels" good today, I am still not convinced the bottom is in. I hope I am wrong, but my concern is that expectations are too high going into the Jackson Hole meeting on Friday. If Bernanke doesn't come out with something big, I think the markets could sell off again. As such, I am using today's strength to continue to lighten up a little on economically sensitive stocks and add to our index hedges.

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3 Characteristics of a Real Team (and a lesson from the marching band)

Today’s Harvard Business Review’s ‘Management Tip of the Day’ included three characteristics of a real team. They point out that the word “team,” as used in business today, has lost its true meaning.

To be rightly called a team, and to maximize their potential, a group must be characterized by three things:

   •  a meaningful and common purpose
   •  adaptable skills, and
   •  mutual accountability.

In Make Over Your Marketing, I devote a whole chapter to the Employee Culture. Noting that many business owners have become so used to opposition when it comes to making even the most necessary changes that they often give up on a good idea if they can’t do it alone, I wrote:

Sometimes it seems almost impossible to make even the smallest changes in your business when it necessitates the cooperation of your team. It can feel like your employees actually want new ideas to fail, even if it means less success for everyone.

As human beings, we all bring our own ideas, prejudices, experiences, likes and dislikes into the employee group. Just because someone joins your team, it does not necessarily mean that they all do so with the same level of commitment and enthusiasm that you desire or even demonstrate. And even if someone joins your team with a high level of enthusiasm and energy for business-building activities, it still doesn’t ensure that they will agree with your ideas on how to build clientele or even who your “ideal clients” should be relative to marketing activities. And it does not mean they will agree with the environment and “feel” that you want all of your clients to experience in your business.

What does all of this have to do with employee culture?
Everything.


Your employee culture is a reflection of the sum total values, beliefs, attitudes, ideas, experiences, assumptions and behaviors shared by your staff. And this culture is reflected back to your clients in every area of your business.
If your employee culture is characterized by attitudes that are negative, lazy or careless, unmotivated or cynical, it is because those traits are present to some extent in one or more of your staff, and it is because these negative traits are allowed to dominate and influence daily operations.

Does this mean that you should only hire people who think exactly like you? Not at all. It is the variety of experiences, talents, skills and interests — the differences within us as people, when shared — that leads to higher levels of creativity, imagination, resourcefulness, abilities and strengths. But your business will grow and thrive only to the extent that these strengths, passions and creativity can be harnessed to pull toward the same goals; and when this occurs in a spirit of positive energy and optimism rather than predominant negativity.

Have you ever seen a marching band in action on the field during the halftime period at a football game? You might see a hundred or more people, all working together to play the same song. By mutual agreement, all of them use their individual strengths, abilities and play different instruments in order to deliver a performance for the audience. Every step they take is even choreographed specifically to further engage and entertain the audience visually, beyond the music. They create a visual, changing design that, like the music, is made up of completely individual routes and roles, purposefully designed and choreographed to create a visual whole made up of the sum of all its parts.

Each member has different skills and strengths, and many are skilled soloists in their own right as musicians and/or even as dancers. But as band members they come together with an understanding that the good of the whole is greater than the glory of any one individual. They agree to pool their strengths, skills and abilities in order to achieve a group goal—to perform the same song, to the same beat, as directed by the band leader, in order to please their clients—the audience.
School band members know that they will only be playing together for a short time, maybe even only for one year; yet they still come to this agreement and shared goal.

In the case of your business, where some of you may work together for decades, isn’t it even more important for you to agree to work together toward the shared goals of attracting and pleasing your clients? Of meeting your customer’s needs and making them feel that they are, in fact, vitally important to your business?

The chapter goes on to provide ideas about how to systematically garner employee buy in for common goals and create a more cohesive employee team. How does your team stack up to HBR’s three characteristics? How do they stack up against a student marching band? And what are you doing to build a true team for your business?


Elizabeth Kraus – 12monthsofmarketing.com
365 Days of Marketing is available on amazon.com in book and digital formats.

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Leaving the best impression (the Andy Griffith Guide to Dressing for Success)

Wherever you go, there you are — the 'Andy Griffith Guide' to Dressing for Success.

One afternoon I caught my husband watching a re-run of the Andy Griffith Show. In one scene, three of Mayberry’s premiere citizens (a reporter, a banker and a mechanic) were all sitting in a diner, enjoying a piece of pie. In walk Andy and his girlfriend Helen, they greet and chat with their 3 friends for a moment and then go sit down to enjoy their own dinner.

My husband, who is a dentist by day, turns to me and says, “Wow, look how dressed up they all are just to go out and have a piece of pie!” and I noted that the banker and the reporter were in suits complete with ties. Andy was in a suit jacket. Helen, a school teacher, was in a dress and was wearing white gloves. Even the mechanic had a button-down collared shirt on, and neither he nor his shirt bore any signs of a day spent in the mechanic’s shop. They were all dressed that way because in that day and age, going out in public was done (or at least demonstrated on TV) with a certain level of respect.

Anyone encountering their local banker at the diner would be presented with the same version of himself that he presented during office hours in the bank. Anyone meeting the reporter would know by his appearance that he was a professional, who was ready to report on a story whether it happened at the diner or during his working hours. Anyone meeting the mechanic would have a clean hand to shake, and he was ready to extend a reminder to any client (as he did in this episode to Andy) that it was time for him to bring in his car for service.

My point is this; wherever you go, there you are.

If you went with friends to the local diner for dinner or even just to the local ice cream or frozen yogurt parlor for dessert, and one of your most important clients came by with some of his or her friends, would your appearance in terms of attire, hair, makeup, grooming, etc., be an expression that demonstrates your talent, sense of fashion and style and even your professional expertise to your client and to her friends? Would you be ready with a personal welcome?

Whether your destination for the day is the salon or spa or any other public venue, like it or not, clients and prospective clients do notice what you wear and how you look. And the fact is, they make judgments about your intelligence, expertise and talent based on what they see. So subscribe to the Andy Griffith Show Guide to Dressing for Success, and be prepared to demonstrate your talent and sense of style and fashion in how you choose to present yourself 'wherever you are!'

Elizabeth Kraus – 12monthsofmarketing.com
365 Days of Marketing is available on amazon.com in book and digital formats.

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Monday, August 22, 2011

Who'll be on an internet radio talk show Wednesday, August 24th? Me!

Who'll be interviewed live at 9 AM (PST) on Wednesday the 24th? Me!

Please plan to listen online, the Hair Artist Association is going to be giving me the floor to talk about 365 Days of Marketing and dish out as much marketing creativity as I can in 30 minutes time!

Here's the link for more information -- http://www.blogtalkradio.com/hairartistassociation/2011/08/24/elizabeth-kraus-beauty-industry-marketer-educator-author

Find out more about my newest book, 365 Days of Marketing -- about which salon owner and platform educator Alethea Stockton posted this on Facebook: "Your book is great. I will be picking some things to give a review on. you are amazing at what you do. You simplify if for the rest of us and give us a fool proof method. you rock! "

Find out why I believe that 1 salon industry icon, and 2 salon owner/stylists changed my life forever.

Find out what you need to know for social media marketing success in 2012 -- I'm going to break it down to the 4 most important things that you should be doing. Just four?! -- You can handle that!

Find out more about the Hair Artist Association on their website at http://thehairartistassociation.org.

I can't wait! It's going to be a great year - Elizabeth


Elizabeth Kraus – 12monthsofmarketing.com
365 Days of Marketing is available on amazon.com in book and digital formats.

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Monday Morning Musings

The market is getting a bounce this morning on the heels of no bad news over the weekend, and a nice rally in European markets before the open.



Libyan rebels have taken over Libya, and the energy sector is rallying on the news. The thinking behind the rally is that oil will once again start flowing from Libya, and that lots of oil services will be needed to repair the oil fields and maximize production. Gas prices are slightly lower today on the perceived addition to supply this would create.



Asian markets were mixed overnight. Here in the U.S., there isn't a whole lot in the way of economic data or big corporate news to move the market. You know I don't like a market that opens too strong, as that leaves it vulnerable to late-day selling. I prefer a market that opens weak and strengthens into the close. So we will have to see how the day shapes up.



The dollar is up slightly vs. most other currencies, but that isn't hurting oil or gold. Oil prices are up over $83, while gold prices have rallied yet again, and are now above $1875.



The 10-year is getting a small bounce finally, but only back to 2.12% so far. And the VIX had broken below the 40 level earlier today, but it has since bounced higher and is closer to 41.20 right now. I would like to see it get back near 30 for starters, as these levels indicate traders expect heightened volatility to continue.



Trading comment: No big news yet, and the weak action at the close last Friday validates our near-term strategy. We continue to focus on playing defense here, using rallies to exit lagging positions and decreasing our overall equity allocation. Areas where we are adding are the high yielding plays like MLPs, utilities, and select REITs. Preservation of capital.

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Friday, August 19, 2011

TGIF

The markets opened lower this morning, following yesterday's sharp selloff in the US, which carried over into weakness in Asian markets and in Europe this morning.



But the selling dried up in the first hour of trading, and as of this post the markets are climbing back into positive territory on the day. Of course, with the VIX this high, we know we can expect a lot of intraday volatility. So nothing really matters except how we close on the day.



The concerns in Europe continue to surround sovereign debt, whether Greece can meets its fiscal debt budget, and an overall global economic slowdown.



In corporate news, HPQ reported disappointing results and its stock is getting whacked. This is weighing on the Dow Jones average. Salesforce.com (CRM) reported strong results and its stock is rallying.



The dollar is lower today, which is helping commodities. Oil prices are higher near $82.70, and gold prices have surged to new record highs above $1850.



The 10-year yield continues to languish around 2.08%; and the VIX has been bouncing around, but is currently 2% lower near 41.80, an extremely high level following yesterday's surge higher.



Trading comment: No change to our near-term strategy. If the market is trying to put in a trading bottom, it will be a process and not a one-day event. So we are still using bounces to lighten up on our equity exposure, and staying defensive by adding to index hedges. Preservation of capital remains the best course during a market downtrend.



Have a nice weekend, be safe, and rest up.

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Friday's 5 - Marketing Shorts and Sweets

I'm trying to get this post written quickly so I can go spend an hour in the sun today. The days are already getting shorter, back-to-school ads are streaming across the TV and I am feeling the need to get some vitamin D while the getting is good!

Here are my 5 short and sweet marketing treats for you this week:

[READ] 5 Ways to Improve Your Marketing, Immediately
It would be easy to grow this list to be 50 or 100 points long. The point is, there’s no shortage of actions you can implement today to improve your marketing. Here are five actions you can take today to improve your marketing immediately.


[READ] The Zen Way to Build a Successful Business
Studying the ancient wisdom of Zen masters can provide a path to build a successful business. According to Zen philosophy, there are "five fingers" of success that have worked for thousands of years.


[READ] How 5 Companies Used Social Media to Get Found and Get Sales
I especially love the local marketing done by Big Daddy's BBQ – there are some great ideas in this article! “Done is better than perfect.” This is the writing on the wall — the physical wall — at Facebook. Big break winners how they went from social media novices to experts in the making, and lessons learned along the way.


[READ] 7 Things You Never Have to Do
Love is never having to say you’re sorry.” This phrase originated in the movie Love Story, but has since been modified, satirized, patronized and reorganized in dozens of movies, songs, tv shows and other art forms. Are there other things we never have to do? In business, in life and in love, maybe there’s an entire line of thinking based on this idea.


5 Quotes for (Marketing) Inspiration

"Our doubts are traitors, and make us lose the good we oft might win, by fearing to attempt."
(William Shakespeare, 1564-1616)

"If you stay ready, you ain't gotta get ready."
(Will Smith, 1968 - )

"We can't think narrowly. We have to think in the biggest possible way."
(Alice Waters, 1944 - )

"Trust your own instinct. Your mistakes might as well be your own, instead of someone else's."
(Billy Wilder)

"Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring — all of which have the potential to turn a life around.
(Leo Buscaglia)


That's it for this week! Don't miss Monday's e-mail newsletter which will include original content and links to more articles that will motivate, inspire and challenge you. [Click here] to subscribe. It's free, you can opt out any time, and I probably won't bother you more than once each week!

Elizabeth Kraus – 12monthsofmarketing.com
365 Days of Marketing is available on amazon.com in book and digital formats.


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Thursday, August 18, 2011

It’s Hammock Time!


Close your eyes and breathe deeply and slowly, in and out, exhaling completely at least 5 times (10 would be better). With your eyes still closed, imagine yourself somewhere warm but not hot, with just the hint of a breeze blowing across your body as you lay in the sun, swinging slowly back and forth in a hammock over a white sandy beach, the sound of the ocean in your ears. Unworried and far from the cares of life and free of the demands you make on yourself and those required of you by family, friends, your boss, co-workers, church, charities and associations. Content, perfectly satisfied with yourself and your surroundings, wanting for nothing. Alone or with the perfect companion, be it a significant other, sibling, family member or friend – whichever really suits your fantasy best.

How does this translate to the salon and spa (or any other business, for that matter)?

That is the level of experience you should want to create for your clients. That one time they can count on every few weeks when they will be able to step away from all the things that they have to do and will have a chance to ‘just be.’

In terms of a client experience, you want your clients in the 'hammock.' You and your staff must reach agreement on the type of atmosphere you will provide and you must think through and purposefully design the client experience from end to end, and from top to bottom, because you — you as the owner and all of the staff — are the supports and the netting that holds this hammock in place. Loose netting or weak posts will mean that clients are at constant risk of falling out of the hammock — the experience you want to create.

Brainstorm as staff and come to agreement on the atmosphere that you want to provide for clients. Make a list of all of the moments that comprise a customer’s experience, from the moment they arrive at your business location, to the reception and waiting area, through each of the points they might touch during their service appointment and through to the end of their visit and their departure.

Think about background elements such as music, lighting, decor, cleanliness. Set up a plan to re-design each touchpoint with the goal of reinforcing the atmosphere – the experience you agreed to create for each and every customer, and map out a plan for the coming year to transform each one.

Think about personal comfort such as whether customers might be hungry or thirsty or in need of a restroom (especially during longer appointments or those that occur during typical mealtime hours). Create hospitality scripts for employees so that every customer is consistently received hospitably and treated as a pampered guest throughout their visit.

As part of your staff meetings each week, talk about at least one aspect of the customer experience, and how you can improve or tweak your processes or the physical environment. Incorporate 5-minute scalp or hand massages to help clients receive temporary release of tension and worries.

I love this quote, attributed to 1997 Reader’s Digest (my apologies, this is the only reference I could find to attribute!)

A hammock is the best place to spend a midsummer afternoon. When you climb into a hammock, you are linked to reality only by the narrowest of cords. Suspended in time and space, you shed any sense of weight or corporal substance. As you sway with the gentle rhythm of the breeze, you drift and dream between heaven and Earth, glimpsing the blue truth of sky beyond the wagging treetops.

Then suddenly the spell is broken by a dog's snout poking you, a rumble of thunder or a child's cry, and you are brought back to a world you temporarily left behind. But the hammock's solace is not forgotten. Its gentle crescent lingers.

If you create this level of experience – one that will linger in the client’s mind, even after they have returned to their everyday life, they will come back for more and they will send family and friends to you. Build a bigger role for your business in the lives of your clients.

Don't miss next Monday's e-mail newsletter which will include more original content and links to articles that will motivate, inspire and challenge you. [Click here] to subscribe. It's free, you can opt out any time, and I probably won't bother you more than once each week!

Elizabeth Kraus – 12monthsofmarketing.com
365 Days of Marketing is available on amazon.com in book and digital formats.

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Euro Banking Fears Flare Up Again

Another busy morning. The markets are down sharply in early trading, following large selloffs in European markets. The culprit seems to be a report that a European bank went to the ECB lending window for the first time since February and needed a short-term loan at above market rates. This type of report sparks fears of credit tightening, and the markets never like that sort of thing.



On top of that, we had some negative economic reports here in the US. The Philly Fed index absolutely plunged in August to a level of -30.7 from +3.2 last month. That is quite a drop. Additionally, Morgan Stanley downgraded its outlook of the economy and said we are getting closer to recession. I still think the odds of a true recession are about 50/50 right now, and a more likely scenario is just stagnating growth.



The 10-year yield also plunged this morning, touching the 2.0% level. That's lower than it got in December 2008, just for a reference. Investors who think a 10-yr Treasury at 2.0% is a better long-term investment than a blue chip stock with a 3% dividend are going to be sadly disappointed.



We are also seeing spikes in bearish sentiment. The CBOE put/call ratio has been above the 1.0 level for 15 straight days, and the 10-day average hit its highest level since 2008. Today, the volatility index (VIX) is spiking 30% higher back above 40, although it is still below last week's highs at 48.



The dollar is higher, which is weighing on most commodities. Oil prices are down to $83.15. But the flight to safety is pushing gold prices to new highs again, today topping $1820.



Trading comment: This morning's action makes me feel better about the recent sales we have made and the hedges we added to portfolios. Getting defensive when the markets are in a downtrend preserves both financial and mental capital, and both are needed if you want to be in a position to capitalize on things when the dust eventually settles. I hope everyone is managing their risk appropriately.





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The Four Stages of Data Driven Marketing


Who is your customer? It is a deceptively complex question that a surprising number of B2B companies cannot answer. The difficulty stems from several causes:
  • Inconsistent definitions for customer attributes (account name, industry, segment, organizational hierarchy, contact name/email, etc.)
  • Fragmentation of the data across multiple databases and applications
  • Departmental perspectives on customer relationships
  • Lack of an enterprise customer data management approach
The impact of all this is a severe slow down in decision making and an inability to optimize critical processes in customer facing functions, most poignantly in marketing and sales. The solution is to define customer creation as an enterprise process – not something that happens only in marketing and/or sales – and the implementation of data standards and governance to support it. This enables marketing to be data driven, but there are four distinct stages of data driven marketing and not all of them lead to success:
1. Stage One – Fast Failure. This stage is characterized by response-based decision making. Marketing decisions are based on response data from marketing systems – web hits, landing page registrations, and myriads of other campaign performance data. All of this is important, but leaves marketing unable to tie any of its activities to key business metrics such as revenue performance.
2. Stage Two – Slow Failure. This stage is introduces conversion-based decision making. Marketing and sales systems are integrated along with customer data definitions and structures. This provides a quantum leap forward for both sales and marketing. However, marketing is still one degree of separation from linking its activities to business performance. Sales pipeline is a good proxy but it is no substitute for the critical business data that comes from the next two stages.
3. Stage Three – Measurable Success. At this stage marketing finally is able to measure contribution to revenue. However, it is not enough to rely on initial contract data alone. Account A that closed for $1 million and account B that also closed for $1 million may be very different in terms of margin and lifetime value. Account A may have cost $250,000 to sell, install, and support where account B cost $500,000. If that's the end of the data set, then of course marketing should bring on more account A profiles.
4. Stage Four – Market Mastery. At this stage marketing understands the long term profitability of customer relationships. If over time account A buys nothing more and account B upgrades and expands its investment by millions of dollars at improving margins, marketing can refine its activities accordingly and begin to drive overall business performance.
The key lesson is that marketing is greatly influenced by the depth of data available to it. At each stage in IDC's data driven marketing model, new data can completely change all facets of marketing activity from strategic targeting and messaging to tactical campaign investment and roll out plans. As a result, it is crucial for companies to get to Stage Three as quickly as possible and remain ahead of competitors on the journey to Stage Four.

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Wednesday, August 17, 2011

Who'll be getting the presidential treatment today?

Do you remember when President Clinton made “headlines” (sorry, I couldn’t resist the pun), garnering no small share of criticism when LAX shut down two airstrips for hours, just so the president could call his personal stylist to come and cut his hair on the tarmac? If you need a refresher, [here's a link to the the NY Times article].

I was thinking about that on my walk today. About the level of success you’d have to achieve — not to shut down the airport to get a haircut — but to be able to charge four hundred dollars (or more) an hour for hair cutting and styling services.

I thought about a conversation I had recently with a local salon owner who told me that while some of her peers continue to hurt financially due to the slow economy, she is doing fairly well. She attributes her present success not from an ability to move more clients through during the day, but actually, by moving fewer clients in and out of her chair each day. She told me that she is simply spending more time with them. Again, while you might reasonably expect me to say that she is selling more services or services that take longer to her existing clients, that’s not what she said. She said she is simply spending more time with them. Time during the consulting process. Time talking with them about their jobs, their kids, their spouses, their family and friends and hobbies and interests. She is investing her time, focusing on and connecting personally and emotionally with her clients, as a deliberate part of the client experience.

It goes to the heart of the matter.

I’ll bet the Clinton’s “family stylist” (as Christophe is referred to in the NY Times article) treats the Clintons like royalty, like VIPs, like celebrities, like — well — the president. I’ll bet his attention is focused 100% on his clients during any service appointment. I’ll bet that there are no more than a handful of times in his entire professional career when he’s failed to deliver extraordinary results as well as an extraordinary client experience. Because that’s what it takes to be able to charge hundreds of dollars for a haircut. That’s what it takes to be on call for the president.

And here’s the moral of the story. You may not be on call for the president, but you might have someone presidential in your business today and not even know it. It might be the president of the local PTA, Chamber of Commerce, Rotary or Kiwanis, the head of the local chapter of MOPS, the owner of a local restaurant or wine bar — there could be any number of extremely influential people who come into your business on any given day, whether you are aware of it or not.

Your opportunity lies in giving each and every customer who walks in the door the presidential treatment. Giving each 100% of your focus when greeting them, seating them, consulting with them, providing services for them, recommending products for them, listening to them — through each step of their journey through your business — up until the moment they leave. Can you imagine the president’s stylist barely looking up when he walks in the door? Can you imagine the president’s stylist taking personal calls during the service appointment or having a personal conversation with a co-worker? Can you imagine the president’s stylist failing to tell him about a hair or scalp problem? Failing to recommend the right products? Failing to make each moment of the president’s client experience special, extraordinary? Me neither.

Who’s going to get the presidential treatment in your business today? I hope that it turns out to be the vast majority of your clients; because, if so, it’s going to be a great year!

Don't miss next Monday's e-mail newsletter which will include more original content and links to articles that will motivate, inspire and challenge you. [Click here] to subscribe. It's free, you can opt out any time, and I probably won't bother you more than once each week!

Elizabeth Kraus – 12monthsofmarketing.com
365 Days of Marketing is available on amazon.com in book and digital formats.

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Financial Transaction Tax In Europe Bad Idea

Sorry for the delayed post this morning. It's already been a busy day of trading for us. We are continuing to do what I have talked about of late, and that is use rallies to lighten up on our equity exposure and get a bit more defensive. So we trimmed more positions while the market was up this morning.



Yesterday the market sold off after the news that one of the ideas out of the Sarkozy/Merkel meeting was to levy a financials transactions tax on EU members. This is a bad idea, and will not help the capital markets. Basically, the meeting produced little tangible ideas to soothe market concerns in Europe. Go figure.



This morning, our markets opened nicely higher, although the rally is fading as I write this post. Target (TGT) posted solid earnings and its stock is higher, while DELL was disappointing and is weighing on the tech sector.



Asian markets were mixed overnight, while Europe is lower this morning. The dollar is lower today, which is boosting commodities. Oil prices are up to $87.80, and gold prices were higher earlier, but have faded back near $1785 currently.



The 10-year yield was also higher before, but has now settled back to 2.17%. Ditto for the VIX, which was down 5% earlier but has climbed back into positive territory near the 33 level. That is still a very high level, as investors continue to worry about heightened volatility in the market. The put/call ratio has been extremely elevated today also.



Trading comment: There remain more reasons to be cautious right now vs. trying to time the next rally. The market has lifted nicely from last week's lows, but there is still a ton of overhead resistance to deal with. We have been refocusing some of our equity exposure out of cyclical stocks and into high dividend payers like REITs, MLPs, and utilities. At least in those areas investors get paid to ride things out.





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5 Easy Ways to Increase Good Will and Boost the Profits of Your Painting Business

5 Easy Ways To Increase Good Will And
Boost The Profits Of Your Painting Business


This past year has been very tough… Sure you may have stayed consistent, but has your business grown?

Now with the approaching fall/winter/holiday season right around the corner (here in North America) anxiety and stress levels are rising for many painting business owners as they try to schedule as many late season jobs as they can, in order to stay afloat through the upcoming slow season.

With that in mind, here are five quality tips to help you increase good will and boost profits for your painting business.

  1. Follow up with past customers and past “no’s” and make them a specific offer or a special promotion.

    Very few painting contractors ever follow up with past customers, let alone the people who didn’t accept their bid… BIG mistake.

    Did you know by doing regular past customer follow up, you can add up to 20-30% profits to your bottom line?

    It’s true! And one of the main reasons is because it doesn’t cost anything to advertise to these people. (Other than your time)

    Create a simple email or better yet, call them up on the phone and find out if they, or anyone they know needs any last minute work done.

    If nothing else, you are creating good will by following up. If they say they don’t need any additional work done this season, ASK THIS QUESTION:

    What is the next painting project you will want to focus on for NEXT YEAR? (I’m sure I don’t have to tell you what to do with that information come next spring… right?)

    This is just one of the strategies outlined for you, (step-by-step with examples and scripts) in Painting for Profits.

  2. Create Good Will by supporting local business… Give customers a thank you gift card after each job.

    One of my favorite ways to create Good Will is to support local restaurants. NOT chain/franchise restaurants, but LOCAL mom and pop places.

    If you haven’t spent any time talking to (networking with) local business owners, you aren’t doing your job and you certainly aren’t growing your business “the easy way.”

    It is simple to have local restaurants, hardware stores, ice cream shops, etc. DONATE a few gift certificates for you to give away to your customers as a thank you gift once the paint job is complete.

    AND more times than not, you will get additional business because the owners of these places will refer your business whenever they hear of someone who needs painting.

    This is an example of a classic Joint Venture situation and it is one of the most powerful strategies for growing your painting business in this slow economy.

    Again, I outline the entire process for finding and creating Joint Venture partnerships (step-by-step with examples and scripts) in Painting for Profits!

  3. Volunteer to collect food or clothes for needy families in your area.

    Another way to create Good Will and raise awareness about your painting business is to do a good deed!

    Over the course of a month, you can collect food or clothes from customers and donate them to your local Salvation Army store or food pantry.

    Create an offer something like this: Donate a bag of groceries (Or clothes) and get $100 off your paint job…

    Once all the goods are collected, get your crew (or family) together and deliver them to the charity of choice.

    Not only does it feel good to make a difference, it is something people REMEMBER and it WILL set your painting business apart from all the others!

  4. Get involved with or create a community event that brings people together.

    It’s a GREAT time of year for attending or creating a community event!

    In fact, if your city or town is anything like mine, there are already dozens of them happening all around town.

    It’s easy to get involved too… and doing so will create a lot of awareness about your business!

    If you go to your local government web site, there is usually a link on the homepage that says “Events” or “Community Events” click on it to pull up a list of fairs, festivals, parades, etc.

    Make a call to the person listed as the organizer or coordinator and ask what you can do to get involved.

    Consider volunteering for clean up or set up duties. Take your entire crew or family to the event wearing your company t-shirts…. Hand out business cards, fliers, pens or pencils with your company name and number on them.

  5. Start using free publicity – get into the habit of writing and submitting monthly press releases.

    Nearly every tip I have given you above lends itself to getting free publicity! EVERY time your company does something “Newsworthy” you should be firing off a press release.

    When people see your name in the newspaper or on the local news for being involved with something that benefits the community, you are automatically seen as the expert, and it WILL pay off big time in the growth of your business.

    Again, I give lots of detailed examples and templates inside Painting for Profits!

Any of the proven tips I’ve shared with you will boost Good Will and profits for your business!

If you would like to have a step-by-step blueprint for applying these strategies (and MANY others) you should get your hands on a copy of Painting for Profits RIGHT NOW.

Why RIGHT NOW?

Because for the next couple weeks, I am doing a price test to see if I am able to help more people grow their painting businesses...

I have been making Painting for Profits available for nearly six years now (updating it yearly to make sure it always contained the most cutting edge tips, techniques and strategies working in the field right now).

We have thousands of customers who have happily paid $197 and the program enjoys a 97%+ customer satisfaction rate.

MANY hundreds of people have sent in testimonials and success stories about how P4P has helped them save time, avoid the frustration of trial and error and most importantly make more money for their family.

In fact, many customers have gone on to become private consulting clients or 1-800-PRO-PAINTER licensees, so the systems I teach really do work!

BUT… with that said, times have changed, and $197 may be too much of a stretch for a lot of well meaning painting contractors.
I made a commitment six years ago to help improve the painting trade and industry and help as many painters as I could, so in my effort to continue to do that, I’m going to do a price test and see what happens.
For the next couple weeks, you get the complete Painting for Profits system, including the complete Bid to Win Estimating system, for just $97… no catches! (That’s a savings of $100 off what countless others have invested!)

If you would like to receive the program on a printable CD-ROM it’s just $97 with Free Shipping
Click Here to check it out: www.StartAPaintingBusiness.com

I look forward to helping your painting business thrive in this tough economy!

Andy

P.S. P4P still comes with my unconditional, no questions asked Money Back Guarantee, so if you are not thrilled with the content or the increase in business you experience, simply return the CD-ROM and I will process a fast and friendly refund of the purchase price!

You have nothing to lose for giving it a try because the tips, techniques and strategies may be just the thing that helps you keep your business moving in the right direction.

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Tuesday, August 16, 2011

Fitch Affirms U.S. AAA Rating

The market is trading lower this morning on some weak economic data out of Europe, and concern that the big meeting between France and Germany to address their fiscal conditions won't produce anything significant. This is overshadowing the news that ratings agency Fitch affirmed the U.S. AAA rating.



There were some positive earnings reports from large retailers like WMT and HD this morning, and those stocks are bucking the weakness so far. Financials are leading the action lower this morning, while consumer staples are down the least.



Asian markets were mixed overnight. The 10-year yield is flattish near 2.27%.



The dollar is up slightly this morning, and this could be weighing on oil prices which are lower near $86.90. But gold prices are higher, trading above $1780.



The VIX is also higher this morning near 32.70. Although it has come down a lot since last weeks huge spike to 48, a level above 30 still indicates that the market expects heightened volatility in the near-term.



Trading comment: The market has bounced a lot in the last few days, but the move higher has been accompanied by very low volume levels. This brings into question the conviction behind the buying. I am not sure a retest of the recent lows is today's event. Mostly likely any sort of retest will unfold in the weeks or even months ahead. But as I have said, I prefer to wait for that retest before adding to stocks. At that time, I will likely add to those that have held up the best. In the meantime, I will look to trade around our positions small, and use market rallies to add to our hedges which will help preserve capital in the event of another trip lower.

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Monday, August 15, 2011

Style, strategy and marketing savvy - August 15

Happy Monday! Even though many are busy vacationing and trying to eke out the last bit of sunshine and relaxation from this waning summer (don't blame me, I'm just the messenger!), I know that you're getting excited for the coming months. After Labor Day, the speed of business will return to 'normal' (whatever that means) and the holiday season — which is a critical source of retail for most business — will be just around the corner.

This week's Style, Strategy and Marketing Savvy newsletter has some great reads!
Get all the article links [CLICK HERE]

In this issue:

ORIGINAL CONTENT
:: Make under – not over – your brand
:: Makeunder makeovers that build business in the salon and spa
:: Ten ways to find out what customers really want

MORE SUCCESS STRATEGIES
:: Start with the customer experience in mind
:: Authenticity is overrated: Why people don't really want the 'real' you
:: 8 rules for social media
:: Are you sure this is what your customers want?
:: Anatomy of a great landing page
:: Delighting customers: Little Passports and customer experiences that transport

Don't miss next Monday's e-mail newsletter which will include more original content and links to articles that will motivate, inspire and challenge you. [Click here] to subscribe. It's free, you can opt out any time, and I probably won't bother you more than once each week!

Elizabeth Kraus – 12monthsofmarketing.com
365 Days of Marketing is available on amazon.com in book and digital formats.


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Monday Morning Musings

The market is getting another bounce this morning, most likely on the relief that no bad news came out over the weekend with respect to Europe. Europe's markets are also higher this morning, ahead of the big meeting between France and Germany. Hopefully they come up with something big in order to assuage markets.



Asian markets were also higher overnight. Japan's Q2 GPD contracted -1.3%, but that was less than feared following the massive earthquake and radiation spill. Hong Kong rallied 3.3%.



In corporate news, Google (GOOG) has offered to buy Motorola Mobility (MMI) for a whopping 60% premium to Friday's closing price. GOOG is primarily attracted to the patent portfolio that it believes will help support its Android operating system. Oil service stocks are also higher after Transocean (RIG) made a bid for a Norway-based driller.



The dollar is lower today, as the euro bounces. Oil prices are higher, nearing $87. While gold prices are roughly flat near $1742.



The 10-year yield is slightly higher to 2.25%; and the VIX is down -7% today to 33.51. This is below Friday's low, but still a high overall level. I would like to see the VIX fall back below 25 before I feel comfortable saying things have calmed down.



Trading comment: Things feel better today as the S&P 500 approaches the 1200 level. But I don't want to be lulled into a sense of complacency here. I prefer to stay defensive at this time, and will look to raise a little more cash into today's lift. I worry that tomorrow's meeting between Merkel and Sarkozy might not produce the 'shock and awe' type of solution that the markets are hoping for. That said, many sentiment indicators are back near extreme bearish levels and as such could limit the downside on the next market selloff.



long GOOG

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