Wednesday, November 30, 2011

Central Banks Coordinate Move To Ease Credit Crunch

The markets are up big this morning on the news that a group of the world's largest central banks have coordinated a liquidity injection into the banking systems to help ease the tightening credit conditions that we have been talking about of late.

The action included the Bank of Canada, Bank of England, Bank of Japan, the ECB, the Swiss National Bank, and the Federal Reserve. They said, "The purpose of these actions is to ease strains in the financial markets and thereby mitigate the effects of such strains on the supply of credit to households and businesses and to help foster economic activity".

The central banks agreed to lower the pricing on U.S. dollar liquidity swap arrangements by 50 basis points. This is intended to help foreign banks who where having difficulty with short-term funding in the market.

Investors are viewing this as a positive sign that the central bankers learned their lessons from 2008 and appear steadfast in their intention to be proactive in avoiding another credit crunch and banking crisis.

Additionally, there was some positive economic reports in the U.S. The ADP Employment report showed payrolls increased by 205,000 in November, far more than the 125k consensus. Moreover, last month's payrolls data was revised upward to 130,000 gain. The Chicago PMI report also improved to 62.6 in November from 58.4 the prior month. So that is a good indication that manufacturing activity continues to expand.

Europe's markets are sharply higher this morning, and the Dow is up over 400 points so far. The euro is also higher which is boosting commodities. Copper prices are up 6%, silver is rallying, gold prices are $30 higher above $1750, and oil prices are back above $101.

The 10-year yield is up to 2.09% today; and the VIX is down nearly -9% to 28.0, though it has already bounced higher from its earlier lows. At the end of October it was below 25, so it still has some room to move lower if this rally is to have legs.

Trading comment: This is already a big move. The time to buy was last week, when bearish sentiment was on the rise and the market was extremely oversold. When those two combine (bearish sentiment and oversold technicals) it is usually a good setup for a market bounce. Then you just need a catalyst to spark the buying, which is what we got today with the central bank action. From last Friday's close, the SPX is already up 7%. I wouldn't chase today's strength, but I think you can continue to buy dips in here.

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The True Gamification Of Advertising.


This multiple award-winning advertisement from the 1980s indicates that it's promoting Silk Cut cigarettes solely by use of packaging colours and the visual metaphor of slashed material.

It left the reader/viewer to work out the rest and thereby engaged them with a form of extrinsic gamification at a time before any marketers had heard that word.

That's quite a contrast with yesterday's unsubtle approach that scans as poorly as the ubiquitous obtrusive QR codes which are flavour of the month right now.

You can have engagement or you can have a shotgun wedding - we all know which is most likely to develop into a lengthy, meaningful relationship.

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Tuesday, November 29, 2011

Consumer Confidence Jumps

With all of the negative news in the media, you would think that consumers would simply remain downbeat until they see clearer signs of job growth, a housing rebound, and an improvement in Europe. But today's consumer confidence number was a big surprise.

Stock futures were barely higher prior to its release, but jumped afterwards. The Consumer Confidence Index for November spiked to 56.0 from 39.8 the prior month. Moreover, consensus estimates were only for 42.5. So that is a nice bounce in consumer sentiment, and could be play into solid holiday sales which began with a strong Black Friday for retailers.

Asian markets were higher across the board overnight after the strong rally here in the U.S. And Europe is higher this morning despite rumors that S&P might be looking at France's sovereign debt rating for a possible downgrade.

In corporate news, Tiffany (TIF) gave disappointing guidance and its stock is getting hit. Also, AMR has filed for Chapter 11 bankruptcy and will being a reorganization. Silly airlines.

The 10-year yield is higher to 2.04%; the dollar is lower, helping commodities; oil prices are up near $99.50, and gold prices are slightly higher to $1715; as for the VIX, it is down another 2.25% to 31.40, but even at a level above 31 traders are expecting continued high levels of volatility. The VIX hasn't been below 25 for more than a day since early August.

Trading comment: I said yesterday that I felt the market was very oversold, sentiment had grown more bearish, and the market should be able to add to yesterday's bounce. I still feel that way, even though volume yesterday was nothing to write home about. The SPX has been in this trading range of roughly 1150-1250 for a couple months, and could stay there. If so, then current levels are roughly at the halfway point of said trading range. In this environment, the best strategy continues to be buying the dips and selling big rallies. You have to take small profits when you have them, otherwise you are simply riding the waves up and down but never making much progress.

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Monday, November 28, 2011

Hope Springs Eternal In Europe

The market put in a dismal week last week, with no Thanksgiving bounce like we often see. Coming into today, the S&P 500 had been down 7 straight sessions, which puts the market in an oversold position.

Lo and behold, rumors of new progress in Europe have sparked interest in buying the recent dip and the markets are sharply higher in early trading. Asian markets were higher overnight and Europe is up strongly this morning.

In Europe, the IMF is working on loan support for Italy. And there is also talk about a new eurozone fiscal pact that would make budget discipline legally binding and enforceable by EU officials. This new amendment to the Lisbon Treaty has been pushed by Germany's finance minister who thinks this initiative would be the best way to calm market fears.

There have also been lots of talk about the strong holiday retails sales that started with Black Friday last weekend. The retail etf (XRT) is up nearly 4.25% so far today, leading the early action.

The energy and materials sectors are also up strongly with commodity prices bouncing. Oil prices are back above $99 and gold prices are up near $1717. Silver and copper prices are up nicely as well. The bounce in the euro is helping the CRB gain 1.5% so far.

The 10-year yield is trying to stay back above the 2.00% level (currently 2.04%); and the VIX is down -7.6% so far to 31.85.

Trading comment: There seems to be a lot of enthusiasm this morning to take advantage of the recent market dip. But there is still a lot of overhead resistance, and given the way the market has traded recently most investors are probably defensively positioned. If the news in Europe is for real, and can gain additional traction, that would be very good for the market. But if things flare up again across the pond, this could easily turn out to be another one-day wonder and disappointment. So I don't want to get too aggressive just yet.

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Make Marketing More Subtle.


Ah the festive season. Family fun and a sense of bonhomie. Not in the hands of the marketers behind Ann Summers - UK high-street purveyors of "lingerie" and adult toys.

"It's the dirty thoughts that count."


Isn't Christmas the time for giving? So why not give your customers the opportunity to join the dots and engage with you a little rather than shoe-horning that dirty in there? It avoids the risk of appearing cheap and having a low opinion of your customers' literacy and, after all, don't they say subtle is sexier?

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Sunday, November 27, 2011

Feeling marooned, without a compass? Here's your 2012 marketing map!

It often happens that I’m invited to meet up with a friend or business colleague for coffee or lunch at a restaurant I haven’t been before. In order to make sure that I arrive on time and with as little stress as possible, I usually go online for a map and directions. As a backup, I have GPS in the car if needed. And that’s just to make sure that one little meeting goes well.

If you don’t have a marketing map for 2012, you’ll be arriving ‘late’ to many opportunities and missing dozens of others. If you don’t want to keep driving your business around in circles, hoping to arrive at your desired destination by luck, you need to get directions and follow them! You can start with the 2012 Marketing Calendar for small business or for salon and spa, or use 365 Days of Marketing to build a plan to use all of the marketing channels available to you – from traditional marketing to cooperative partnerships, social media, events, etc. – in order to get things moving in the direction you want them to go.

Excerpt, ideas from 365 Days of Marketing
November 6 is ‘Marooned Without a Compass Day’

The last thing you want is for your customers to be “marooned without a compass” while at your business, unable to find what they need:

  • Be sure in-store signage is up to date.
  • Create directory signs to be placed at eye level at the ends of aisles.
  • Create signage to help customers choose the right products to use at home.
  • Create signage and scrips for emails, social media, etc., that suggests products for home use as well as provides them with "You might also like..." add-on ideas.
  • Make specific gift suggestions; tell customers what products make great gifts, and for whom they would make the best gifts.
  • Create a floor map directory noting the route to the offices, departments, rest rooms, reception or other areas that visitors to your building most commonly visit. Post it in your entry, reception desk or waiting room, give copies to first-time guests, post it on your website or include it in an annual e-mail newsletter.

It’s only natural that from time to time you will need to reorganize or renovate:
  • Draw up a new floor map following any remodel, renovation or re-organization project to e-mail and/or direct mail to customers and prospects, or one that can be handed to customers at the door or utilized at an open house event.
  • Use this opportunity to draw attention to new products or services and hold an open house with door prize drawings, contests, entertainment and refreshments as well as product demonstrations, professional consultations and product sampling.

Educate customers as to products or services—solutions—you provide that they may not have been previously aware of, or which they may not have needed previously (but do now):
  • Throughout the year, use your communications channels and events to put the spotlight on various products, services, departments, specialists, etc.
  • Use your e-mail newsletter, blog, Facebook and other social media and your website to introduce new employees, products or services to your customers as soon as possible.
  • Pair new items in promotions with best-sellers and clearly define their benefits in messaging across all of your communications channels.
  • Create time-limited promotions to help fill appointments books for new employees or to support the launch of new products.

Create a formal mentoring or apprenticeship program within your business for your own employees, local students, adults in need of vocational training, etc. Help subsidize or provide resources for continuing education for your employees.


Partner with a local counselor, life coach or motivational speaker to hold a workshop on what people can do when feeling “marooned” or lost.  Compile a list of recommended reading, audio books and videos. Add some of the best titles to your retail or impulse buy offerings, or post them online.


Post links to local resources that would interest your most important or ideal customer types on your Facebook page, e-mail newsletter or blog:
  • Create brochures listing local attractions, the best dining, entertainment and family recreation centers, activities for rainy days, options for hiking, swimming, golf, etc. and which also features relevant products or services.
  • Solicit ideas and recommendations from customers and post links on Facebook. Send copies to local hotels, motels, car rental agencies, travel agencies, etc.

Work with marketing partners
and local education institutions to hold a career or job fair for adults, college or high school students:
  • Work together to establish job shadow and intern programs.
  • Create a community support group for job seekers or employers, or set up a specialty job listing resource online.
  • Invite your marketing partners to participate in regular meetings to discuss ways to “map out” pathways to improve local economic health in order to benefit independent businesses and the community.

Don't leave yourself 'marooned without a compass' in 2012: even though this is probably a busy time of the year for your business, set aside time to map out your route to success in the New Year!


***

Elizabeth Kraus is the author of 365 Days of Marketing.

Do you want more creative ways to generate social media engagement -- for every day of the year? Check out 365 Days of Marketing, available on amazon.com or save $5 off the list price when you use the Code USH9VPJG and purchase on my site at 12monthsofmarketing.net.

Dispel all the little white marketing lies that might be holding your business back - check out the 2012 Small Business Marketing Calendar: Little White Marketing Lies on amazon.com.   With hundreds of marketing ideas laid out for 2012, you'll get into a marketing groove and build a bigger role for your business in the lives of your clients!

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Wednesday, November 23, 2011

Happy Thanksgiving: Where did it all begin?

Sure, you’ve heard about the Pilgrims and the Indians and the first Thanksgiving, but that was just a dinner. Do you know how Thanksgiving, now officially celebrated on the 4th Thursday of every November, earned its place as one of the major US holidays?

11 December, 1620: 102 pilgrims disembarked the Mayflower at Plymouth rock after a rough and tempestuous sea journey of more than two months (66 days). Originally aiming for northern Virginia, they were blown off course by winds. That first winter, about 45 pilgrims died due to extreme cold. In the spring of 1621, led by Squanto, native Americans taught the pilgrims to grow corn, beans and pumpkins, which helped all of them survive. In the autumn of 1621, they invited their Indian friends and held a grand celebration to thank God for his favors. This communal dinner is popularly known as “The First Thanksgiving.” There is no evidence to prove if the customary turkey was a part of the initial feast. According to the firsthand account written by the leader of the colony, the food included, ducks, geese, venison, fish, berries etc.

During the 1600 and 1700’s, it was common practice for individual colonies to observe days of thanksgiving throughout each year. These were days set aside for prayer and fasting, not a day marked by plentiful food and drink as is today's custom. Later in the 18th century each of the states periodically would designate a day of thanksgiving in honor of a military victory, an adoption of a state constitution or an exceptionally bountiful crop.

October 1777: All thirteen colonies joined in a communal thanks-giving celebration commemorating the surrender of British General Burgoyne at Saratoga.

3 October 1789: The first historic proclamation was issued by President George Washington, declaring November 26 as a day of public thanksgiving and prayer give gratitude to God. Here is the proclamation:
Whereas it is the duty of all nations to acknowledge the providence of Almighty God, to obey His will, to be grateful for His benefits, and humbly to implore His protection and favor; and Whereas both Houses of Congress have, by their joint committee, requested me "to recommend to the people of the United States a day of public thanksgiving and prayer, to be observed by acknowledging with grateful hearts the many and signal favors of Almighty God, especially by affording them an opportunity peaceably to establish a form of government for their safety and happiness:"

Now, therefore, I do recommend and assign Thursday, the 26th day of November next, to be devoted by the people of these States to the service of that great and glorious Being Who is the beneficent Author of all the good that was, that is, or that will be; that we may then all unite in rendering unto Him our sincere and humble thanks for His kind care and protection of the people of this country previous to their becoming a nation; for the signal and manifold mercies and the favorable interpositions of His providence in the course and conclusion of the late war; for the great degree of tranquility, union, and plenty which we have since enjoyed; for the peaceable and rational manner in which we have been enabled to establish constitutions of government for our safety and happiness, and particularly the national one now lately instituted for the civil and religious liberty with which we are blessed, and the means we have of acquiring and diffusing useful knowledge; and, in general, for all the great and various favors which He has been pleased to confer upon us.

And also that we may then unite in most humbly offering our prayers and supplications to the great Lord and Ruler of Nations and beseech Him to pardon our national and other transgressions; to enable us all, whether in public or private stations, to perform our several and relative duties properly and punctually; to render our National Government a blessing to all the people by constantly being a Government of wise, just, and constitutional laws, discreetly and faithfully executed and obeyed; to protect and guide all sovereigns and nations (especially such as have show kindness to us), and to bless them with good governments, peace, and concord; to promote the knowledge and practice of true religion and virtue, and the increase of science among them and us; and, generally to grant unto all mankind such a degree of temporal prosperity as He alone knows to be best.

Given under my hand, at the city of New York, the 3rd day of October, A.D. 1789.
(signed) G. Washington

3 October, 1863: President Abraham Lincoln issued a fresh proclamation calling for the observance of the fourth Tuesday of November as a national holiday.  In 1939, during the great depression, President Franklin D. Roosevelt moved the holiday to the third Thursday of November to extend the Christmas shopping season and boost the economy.  After a storm of protest, in 1941 Roosevelt moved Thanksgiving to the fourth Thursday in November, where it stands today.

It's interesting to note that most of the triggers behind our Thanksgiving Day history involve not times of great plenty and blessing, but times of great want and trials.  Perhaps as human beings we take the good times for granted; because it seems to be the bad times that bring our true gratitude to the surface. We may need to have tough stuff in our lives in order to truly appreciate all of the people and circumstances for which we should truly be thankful to God and others.  

Jacques Maritain said, "Gratitude is the most exquisite form of courtesy," and 'thanksgiving' itself is a word of action.  To make the most of this Thanksgiving, as you celebrate with family and friends, as you brave the shopping hordes, as you eat to overflow and watch football, as you travel to see your favorite people, or as you simply rest and renew, be thankful and find ways to turn your gratitude into actions that benefit others.

Elizabeth Kraus
Be InPulse branding, marketing and design

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Tuesday, November 22, 2011

An open letter to 2012 Holiday Shoppers


Before you set out on your 2012 holiday shopping adventure I wanted to point out that – just by doing what you’re going to do anyway (shop) – you have the opportunity to improve the economy.

Let’s face it, it’s pretty obvious that the government has neither the will nor the disinterested common sense needed to do the right thing when it comes to cutting spending and reducing the tax burden on small businesses – you know, the ones who provide the JOBS – in order to stimulate the economy. It’s pretty obvious that the 1% are not going to endow each of us with a portion of their riches (nor do I think they should). And it’s obvious that big business won’t, either.

So that leaves it up to you and me: It's the shopping choices we are about to make that have the ability to make the real difference.

I live near Auburn, Washington, a town of about forty thousand people. If each Auburn resident, aged 18 and over, spent just $10 a month more with local, independent businesses, the impact to the local community over the same 12 months would (estimated-ly) be well over 2.5 million dollars. Increase that number exponentially when you up the amount.

If you want more jobs in your community, spend (more of) your money with local, independent businesses. And seek out and ask for American-made products, whether you're shopping locally or online.

When it comes to holiday shopping, seek out local craftspeople and purchase truly unique gifts for your family and friends – locally-made jewelry, t-shirts and other novelty items, boutique retail items, home décor items, restaurants, or even give the gift of photography services, home renovation or handyman services, landscaping, beauty, spa and other services to those on your local gift list, rather than the same-old, same-old  you see in all of the chain stores.

You'll find lots of local, independently-owned businesses represented at events in your community in the form of holiday bazaars and festivals.

Ask your hair stylist, friends and family for local recommendations.

Use social media to find local gift shops, artisans and craftspeople.

Once you start looking, you're going to be amazed and inspired by the amount of talent and fantastic options that have been flying under your shopping radar the whole time!

And when your friends and family ask what you want for a gift, ask for gift cards, products or services from local, independently-owned businesses and entrepreneurs.  

Not only will more of every dollar you spend stay in the local community to be repurposed for additional local expenditures, locally-made retail and new JOBS (there’s that word again!) but there are other benefits that trickle down into your community as well.

Local merchants and entrepreneurs re-invest their profits not only in their own businesses, but they also provide direct support to your local schools, community arts, music and theater programs, charities, etc. Many local businesses even go one step further and seek out needy families to ‘adopt’ during the holidays or even all year long.

It’s not just that you make a difference by spending your money with local, independently-owned businesses (vs. chains). It’s that you make a real, lasting difference – one that benefits real people right in your community!

By all means, shop— and Shop local! 

***


Elizabeth Kraus is the author of 365 Days of Marketing.



Dispel all the little white marketing lies that might be holding your business back - check out the 2012 Small Business Marketing Calendar: Little White Marketing Lies on amazon.com

With hundreds of marketing ideas laid out for 2012, you'll get into a marketing groove and build a bigger role for your business in the lives of your clients.

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Early Look: Q2 GDP Revised Lower

The market is under a bit of selling pressure in early trading after briefly bouncing into positive territory. The concerns out of Europe persist, and the failure by the Super Committee to do anything regarding the U.S. deficit hasn't helped sentiment.

Bond yields are slightly higher in Europe as the bond vigilantes continue to pressure those governments. The cost of insurance in the CDS market also continues to rise, not just in Europe but emerging market CDS prices are also moving up.

In economic data, the second revision of Q2 GDP was revised down to 2.0% from an initial estimate of 2.5%. There is not much else in the way of corporate and economic news this morning.

Asian markets were mixed overnight and Europe is actually higher this morning on bargain hunting. Oil prices are up near $98 and gold prices are higher to $1700 after getting hit hard yesterday.

The 10-year yield is flat near 1.96%; and the VIX is down a little to 32.55, fading back below its 50-day average.

Trading comment: With the SPX now below its 50-day average as well as its 200-day, traders will move to an even more defensive posture. The news backdrop is very negative right now, and that should push investor sentiment back towards the bearish side of the ledger. While there are few stocks breaking out here, this could be a good time to go back and look at those stocks that were breaking out after reporting earnings and have now pulled back. When the market does find its footing, those names will likely be the first to start moving higher again.

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Monday, November 21, 2011

Monday Morning Musings: All Policy, All The Time

All policy, all the time. That's how it feels in the markets right now. There is very little moving the market lately from a fundamental standpoint, but very large moves from anything policy related.

Most of the policy decisions have been coming out of Europe with respect to the debt problems facing the region. Today we have more of the same concerns, with Moody's adding some cautious comments about the outlook for France's debt rating.

But the failure of the deficit reduction committee here in the U.S. is also adding an element of uncertainty and disappointment in the markets. Our Congress sure doesn't seem to possess the ability to be able to reach any solutions about our own fiscal problems, and that's not pleasing to investors.

The flight to safety is on, with bond prices rising and pushing the 10-year yield down to 1.95%. The dollar is also higher relative to the euro, which is weighing on commodities. Oil prices are down near $95.75, and even gold prices are lower today to $1702. As for the VIX, it is up another 8% to 34.65, but not above last weeks' highs.

My quote screen is for the most part a sea of red this morning. One of the lone standouts on the upside is VRUS, a former long of ours but one which we sold earlier this year. VRUS is being acquired by GILD for $137, an 85% premium. Congrats if you held any of this.

Trading comment: The S&P 500 has now broken below its 50-day average as the selling pressure intensifies. While we could easily see a bounce this week, volume levels will be very light due to the holiday trading. With the credit indicators still flashing warning signs, I want to remain cautious here and try not to be aggressive. Let the market find some support and build a base from which to launch another trading rally. No need to be a hero, as bases take time to build.

long SH

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Friday, November 18, 2011

TGIF - The Song Remains The Same

The news backdrop is little changed today. Concerns about the sovereign debt issues in Europe have eased just a touch on the comments by new ECB Pres Draghi who urged officials to move to make progress on the bailout plans.

Bond yields in Europe have stopped rising for the moment. Italian yields are at 6.68%, Spain is down a little to 6.43%, and France is also lower near 3.56%. And the euro is also getting another bounce today.

Commodities are mostly higher. The CRB index is up 0.5%; Gold prices are up a bit to $1725; silver and copper prices are also higher; but oil prices have slipped back to $98.50. With the global economy still slowing, it seemed odd that oil could keep up its recent trajectory that took it back above $100.

So far the materials stocks are leading the early action, while tech is lagging for a second day.

The 10-year is hovering right at that psychological 2.00% level; and the VIX which surged above 35 yesterday has pulled back -4% so far back near the 33 level. I have mentioned repeatedly that the VIX remaining stubbornly above the 30 level was indicating volatility would creep back into the market. I think some of the sharp pullbacks we've seen in the last week are prime examples.

Trading comment: It is said in the market that from failed moves come fast moves. I think that applies to yesterday's selloff. After the SPX broke that uptrend line that I have been watching, selling in the market picked up steam and the SPX quickly fell towards its 50-day average. This is a first area to look for support, around the 1205-06 area. Unfortunately, we have more policy decisions that will color the action coming up. The "Super Committee" as its called is supposed to vote on budget cuts and I think very few people if any think that they will actually be proactive in coming up with a proposal that will please the markets. Color me skeptical.

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Friday's 5 - Marketing Shorts and Sweets

I don't know what happened, I just realized that I didn't put up a Friday's 5 last week -- and that's crazy because for whatever reason, there are a lot of good marketing tidbits to share right now!

This isn't really marketing but it made me laugh:


But these are marketing, enjoy!


[READ] Facebook inspired tip jar
Speak to today’s online generation in a language they understand with the wonderfully clever Like Tip Jar. Sure to inspire happy curiosity in social networking aficionados, the Like Tip Jar may be just the thing to encourage a sharp rise in the amount of tips.


[READ] your story, your way
Chris Brogan makes a great point: People can understand details, instructions, facts, and statistics. They remember stories.


[READ] relaxed shoppers will spend more
A new study finds “that relaxed shoppers were willing to pay 15 percent more for goods than less-relaxed ones,” reports Kelli B. Grant in the Wall Street Journal (11/3/11).


[READ] customer loyalty costs as little as 32 cents
One little email and 32 cents transformed a satisfied customer to a delighted one. A business philosophy that goes beyond satisfaction can do that. How much time does your business spend delighting your customers in unexpected ways?


[READ] mommies part of your target market? 10 ways to engage
Moms have always been the pot of gold at the end of the proverbial rainbow for marketers. But not until social media, have moms had so much power to determine the direction of brands and marketing campaigns from the ground up. If you want to sell to moms, you need to get it just right.


[BONUS!] dress your interior to impress your customers
For those inspired by inspiring design, a reminder that customers notice everything about your business, not just the products and services you provide. You have the opportunity to make every customer touch point special and outside of their expectations.

***

Elizabeth Kraus is the author of 365 Days of Marketing.


Dispel all the little white marketing lies that might be holding your business back - check out the 2012 Small Business Marketing Calendar: Little White Marketing Lies on amazon.com

With hundreds of marketing ideas laid out for 2012, you'll get into a marketing groove and build a bigger role for your business in the lives of your clients.

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Thursday, November 17, 2011

Symptoms of a Sick Sales Funnel

Can you believe that the sales funnel is 112 years old? Hmmm. Seems like a lot has happened since then. No wonder the ole’ funnel is showing signs of wear. IDC research shows that the time it takes for tech companies to create a B2B customer has increased by 15% in the past year. Is it time for a fresh approach?

The sales funnel first appears in a 1925 book by Edward K. Strong called The Psychology of Selling and Advertising. Strong attributes the funnel’s invention in 1898 to Elias St. Elmo Lewis, a sales manager for National Cash Register (NCR). St. Elmo Lewis, who later helped found the Association of National Advertisers, called his sales funnel AIDA for the four stages of “awareness, interest, desire, and action”.

The traditional funnel uses an industrial era paradigm that treats a buyer like a widget. With the right machine, a vendor can manufacture that widget into a product called a customer. In the industrial model, the marketing team works awareness at the upper funnel when buyers aren’t too interested. As soon as there is serious interest, marketing sends the “lead” down the assembly line, handing off to a sales rep whose must fabricate an opportunity and produce revenue.

The problem is…the traditional funnel doesn’t work that well anymore.

Alarming evidence of sick sales funnels show up in the data. Tech vendors now take an average of 19 months to create a large account customer, an increase of 15% in just the last year. Some of this lengthening is certainly due to uncertain economic times. Greater risk aversion has increased the size of the average buying team from 5 people to 6. But we can’t blame everything on the economy. Buyers, IDC finds, don’t like this slowness. They want vendors help to shorten the cycle. According to the IDC Buyer Experience study conducted earlier this year, buyers want to push for a 40% reduction in the time to buy.

Poor funnel health also shows up in unsustainable conversion rates. Research from IDC’s 2011 Tech Marketing Benchmark and 2011 Sales Productivity Benchmark reveals that it now takes over 1000 marketing awareness targets to get one sale.

Symptoms of a sick funnel. Beyond the data, tech vendors are experiencing the effects of their sick, out-dated, funnel approach. Here are some common symptoms companies complain about. Does your company experience any of these symptoms?



  1. Bickering: Sales and marketing teams bicker over the number & quality of leads.



  2. Bad Data: You don’t have the right data to judge performance, predict the pipeline, and refine strategy



  3. Wrong Tools: Sales people don’t have the tools needed to sell, in spite of the fact that they have access to a tonnage of content.



  4. Failed sales: Sales people fail to convert most leads. Marketing has no idea what sales plans to do with leads.



  5. Funnel Gaps: Prospects fall out of the pipeline, but you’re not sure when or why



  6. Silos: Sales team thinks it’s a waste of time to provide feedback to marketing and your marketing team rarely seeks input from sales.



  7. Missing Messages: You can’t nurture buyers because you lack the right content
We need a new funnel framework. Much has changed since the sales funnel’s 19th century invention. Business is far more sophisticated. The Internet and social media have dramatically changed the way buyers buy. IDC CMO Advisory has guidance for a funnel makeover in the form of a new Customer Creation Framework.

Here’s an introduction to that framework in an IDC webcast called, Transforming Lead Management: How the new buyer is killing your funnel (and what to do about it).” (The webcast is recorded. Register and you can get the replay.)

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Early Look: Can The U.S. Start To Decouple From Europe

The market had another down open this morning, but as of this post the Dow is back in positive territory. Asian markets were mixed overnight, while Europe is again lower today.

The latest news out of Europe was a disappointing debt auction in Spain. Spanish yields are up to 6.70%, and French yields are a bit higher near 3.71%. Italian yields have eased a touch to 6.97%. Interestingly, the euro is higher on the day.

But the higher euro isn't helping commodities so far. Oil prices are down to a still high $101; gold prices are lower again near $1745; and silver and copper prices are lower as well.

In economic news, jobless claims came in better than expected at 388,000 for the week. And housing starts for October were also greater than expected at 628,000.

The 10-year yield is hovering right at the 2.00% level; and the VIX bounced to 34 where it touched its overhead 50-day average and has since eased back to 32.90.

Trading comment: The S&P 500 has broken below that uptrend level that I showed yesterday (on my blog) and that has been in place since early October. That usually signals more of a correction in store. But I am beginning to wonder if the U.S. markets have priced in the problems in Europe and can manage to climb the wall of worry a bit more into year end. As such, I want to be a buyer on upcoming dips and position myself for further rallies. Of course, this is predicated on nothing further unraveling in Europe. They still need to figure out how to achieve the proposed leverage for the EFSF that has been talked about.

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4 Ways to Sell More Gift Cards this Holiday Season

Over the last couple of months I’ve been writing about “little white marketing lies” which are falsities many business owners tell themselves and others. These are things they often want to be true about their business but either don’t really understand or don’t want to do the real work needed to make them true.

Here’s one more little white marketing lie:
Your gift cards make great gifts.

In your mind, your gift cards make great gifts. You know the benefits and wonderful products and services that your business provides to its customers. But much like the illusion provided by the artist who created these graffiti stairs in a Toronto train station, it may be that you perceive something that others don’t or that just isn’t there. And if you act on your perception, you may find yourself stumbling forward and hitting the wall!

Don’t hit the wall when it comes to gift card or gift certificate sales. If your customers aren’t “seeing” your gift cards as gifts, change their perception.

Many people aren’t conceptual, meaning, you need to help them visualize how your gift cards become “gifts” and for whom they are best suited. If your gift cards are collecting dust on – or behind – the counter, these 4 tips are for you.

  1. Make gift card suggestions specific. Use signage that draws attention to a problem or a person that would be a perfect gift card recipient:
    • last minute gifts
    • extra on-hand gifts for unexpected guests
    • picky mother in law
    • teen or tween
    • the boss you need to impress
    • co-workers such as your best friend at work, receptionist, security guard, etc.
    • clients or vendors
    • holiday party gift exchanges

  2. Display or package your gift cards with illustrations or descriptions of the products or services for which they could be exchanged or which demonstrate the solutions they could provide.

  3. Package your gift cards with best-selling retail.

  4. Bundle gift cards with other items that are, in fact, “gifts:”
    • Gift-quality books (‘She’ is one of my favorites)
    • Men’s grooming or women’s beauty products or tools
    • Gift baskets
    • Chocolates or other goodies
    • Craft kits
    • Games
    • Novelty or unique retail items
    • Branded wares

***

Elizabeth Kraus is the author of 365 Days of Marketing.


Dispel all the little white marketing lies that might be holding your business back - check out the 2012 Small Business Marketing Calendar: Little White Marketing Lies on amazon.com

With hundreds of marketing ideas laid out for 2012, you'll get into a marketing groove and build a bigger role for your business in the lives of your clients.

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Wednesday, November 16, 2011

Chart of the Day: Holding support

Not sure how well you can make out the chart below (you can click on it to enlarge). It is a snapshot from my trading software. On the right hand side, you can see the purple trendline I have drawn in highlighting the recent uptrend that the market has been holding since early October.

Today's pullback is testing that uptrend line again and needs to hold. If this support is broken, it could mean a larger correction is in store.

The news that took the market down in the last hour was comments by Fitch that the Eurozone contagion poses a threat to U.S. bank ratings. Umm...is this new news?


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Early Look: Dour Sentiment Drives Soft Market Open

The market is lower again in early trading. Yesterday we saw a weak market open that improved as the day wore on. So far, we have already seen a nice bounce since the open, but there is still a lot of time left in today's session.

Asia and European markets were both lower overnight. Italy's bond yields are higher at 7.13%; Spain's yields are up to 6.41%; and France's yields have drifted higher to 3.68%. The euro is also lower so far today.

The lower euro is weighing on most commodities, but oil prices continue to climb. Oil prices have now topped $100 for the first time in 5 months (currently $101.80). Gold prices are lower today near $1763. Silver and copper prices are also lower.

In corporate news, Target (TGT) reported solid results and its stock is higher. Abercrombie (ANF) disappointed and its stocks is getting whacked. While DELL was mixed and its stocks is down slightly.

In economic news, the CPI fell in October by 0.1%. But year-over-year the overall CPI is up +3.5%, which is pretty high. Inflation is funny right now. Wages, rents, housing prices, and tech products are pretty flat in pricing. But food prices, education, and healthcare costs have all continued to rise.

The 10-year yield is flirting with that 2.00% level again, but holding so far at 2.02%. As for the VIX, it is up another 2% near the 32 level.

Trading comment: The pressures in the credit markets and in Europe have not lifted one bit. So it does feel like our markets are being a bit complacent relative to the troubling signals that continue to come out of the region. The SPX is holding above its uptrend line that has been in place since early October, but the trading ranges are narrowing such that traders expect a breakout soon from this narrowing range. The SPX needs to hold the 1240 level on pullbacks, while a breakout above 1265-1270 could spark additional buying and short covering.

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Don't punish everyone for one person's mistake

As a business owner, have you had a few bad experiences which led you to create blanket policies -- things like:
  • No cellphones
  • No kids
  • No loitering
  • No food or drink allowed
  • Customers only (restrooms)
  • No use of social media on company time
Or have you even gone to the trouble and expense of hiring companies to lock down computer systems or install expensive surveillance tools in order to make sure that your employees know you're constantly on the prowl for a misstep?

This video is FUN and great food for thought. At a minimum, take a look at how your policies are written. They may well be necessary; but can you word them in a way that makes them positive statements or at least explains the necessity?


Don't punish everyone for one person's mistake from Derek Sivers on Vimeo.


***

Elizabeth Kraus is the author of 365 Days of Marketing.



Dispel all of the little white marketing lies that might be holding your business back - check out the 2012 Small Business Marketing Calendar: Little White Marketing Lies on amazon.com.  With hundreds of marketing ideas laid out for 2012, you'll get into a marketing groove and build a bigger role for your business in the lives of your clients.

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Tuesday, November 15, 2011

You're Too Cool for Facebook


I have a few acquaintances and even family members who think it’s some sort of badge of honor that they aren’t on Facebook. When we talk ‘business’ they lean back and with a disdainful look on their face proudly assert that they aren’t on Facebook, and they never will be. I read the dumb comments about how Facebook is just for grandmas to look at pictures that moms post and how “that’s all it’s good for.”

I’ve got news for you. If you’re too cool for Facebook, that’s your loss, and it might be a big one.


Why? (Soooooo glad you asked!)

The way I see it, two things are keeping you from realizing what Facebook is and how to use it for business success.

One, you’re ignorant. You don’t really know what Facebook is and why one out of every 11 minutes spent online is spent on Facebook. You have not taken the time to experiment with the tool yourself. You have not taken the time to read the multitude of articles available on how to use Facebook to make business friends and influence them.

Two, you’re lazy. Ok, lazy may be too harsh a word, but maybe you’re just “too busy” doing all of the other things that you’re doing to build business.

Here’s the thing.

Your customers are on Facebook. People in your community. Professionals who share your interests. Members of your target markets and ideal prospective customers. All on Facebook. Without you.

And all those moms and grandmas? Guess what? They’re the ones making 80% of the purchasing decisions.

Too cool for Facebook? It’s like you got invited to a party but decided you were too cool for the venue.

Your customers are there, and they’ll try to miss you. On the other hand, maybe they’ll simply make new friends!

***


Elizabeth Kraus is the author of 365 Days of Marketing.



Dispel all of the little white marketing lies that might be holding your business back - check out the 2012 Small Business Marketing Calendar: Little White Marketing Lies on amazon.com.  With hundreds of marketing ideas laid out for 2012, you'll get into a marketing groove and build a bigger role for your business in the lives of your clients.

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Early Look: Data Better Than Consensus Estimates

Asian markets were lower overnight, and Europe's markets saw heavy selling again. That had our futures pointing lower at the open, but the economic data that has come out has been for the most part better than expected, and that has tempered the selling in our markets.

The Nasdaq has been flirting with positive territory today, as AAPL is finally having a good day (so far). Along with tech stocks, consumer staples (XLP) are bucking the weakness so far as well.

As for the economic data, the Empire Manuf. Survey rose to 0.6 from -8.5 last month. That's a pretty big jump. Retail sales for October rose +0.5% and +0.6% ex-autos. And producer prices actually declined -0.3% in October.

Of course, all eyes remain fixed on Europe where rising bond yields and rising CDS prices point to the sustained pressure on those markets due to sovereign debt concerns. Italy's yields are back above 7.0%, and yesterday we saw CDS prices rising in France. Currently, France's benchmark bond yields 3.63%. So that's one to keep an eye on. I just saw a notable macro firm reiterating their short call on France.

The lower euro is boosting the dollar, but many commodities are higher nonetheless. Oil prices are knocking on the door of $99, while gold prices are up to $1785. Copper is also slightly higher as are silver prices.

The 10-year yield is lower today near 2.00%; and the VIX is up another +2.5% near the 32 level. So for those hoping that volatility will die down here, it doesn't look like that is in the card near-term.

Trading comment: The trading range on the S&P 500 is narrowing, which usually means some sort of breakout is coming in one direction or the other. Given that the Nasdaq has held above its 200-day average, I think the odds slightly favor a breakout in the SPX to the upside in a catch-up move with the Nazz. Predictions are hard these days with the markets being as event driven as they are. It certainly isn't a time for aggressive bets. If the SPX isn't able to hold the 1220-1225 area, I would likely become less constructive and prepare for a deeper pullback. But so far the market has been hanging in there.

long AAPL

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Monday, November 14, 2011

Succeeding in the Deal-Centered Economy - November 14 Marketing Savvy Newsletter


bullet what you need to know before you 'daily deal'
elizabeth kraus | 12monthsofmarketing.com
Remember the "4 Ps of Marketing?" If price is not the real problem, why would you try to solve the problem by discounting? I'll tell you why: it seems like a quick fix, a bandage, a medicine that will take care of the symptoms. Covering up the symptoms when you're sick might be Ok, but in business, it can be deadly. [ go ]
bullet the real repercussions of discounting
guest post by Darryl Manco at savvystylist.net
Discounting may entice consumers to take advantage of a business's brand, but will the business brand be able to respond to the seduction that discounting encircles? Discounting has all the properties to be addictive as well as cannibalistic, and befoul businesses as well as the consumers that it bewitched. [ go ]
bullet dealer chic: consumer deals now a way of life
trendwatching.com
As deal hunting has become an integral part of daily life for millions of consumers, trendwatching.com thought it was time to dive into the drivers behind this trend and its long term impact on all B2C brands. [ go ]
bullet big businesses shy away from daily deals
washintgonpost.com
Business owners dream of making quick sales and luring scads of new customers in the door when they place those daily deal ads, yet big returns for small businesses have yet to materialize.

And big businesses? With the clout they have, if daily deals were a 'good idea,' don't you think they'd be the first to expend the resources to jump in and make some money? Their sales are down too. But they haven't, and you should ask yourself why.

The main reason cited why big businesses haven't jumped on board the daily deal bandwagon is this: fear of tarnishing their brands. Those few big businesses that are experimenting note that it's a very small part of their marketing strategy and is done in conjunction with their overall marketing plan. [ go ]
7 easy tips to attract new customers before you discount
noelbellen.blogspot.com
Before you resort to undermining your own brand and profits with discounting (whether we're talking daily deals or your own internal clearance or anything-for-five-dollar-baskets — you know who you are!) here are seven easy ways to attract new customers and build true lasting relationships with them. [ go ]
it's your reputation: handle with care
entrepreneur.com
Unless you take ownership and step up to accept responsibility your brand will diminish in the eyes of those who work with you and your company. And you can bet on it - they will spread the word. Here are 5 ways to manage your brand and protect your reputation. [ go ]
let's get engaged!
elizabeth kraus | 12monthsofmarketing.com
The secret for small business (or any-sized business) success is not just attracting customers or getting one sale, it's engaging them over the long haul.

Engaged customers believe they are part of something. They believe they are important to you and to your business.

Apart from having a family or social connection to your business, the only way a client will become engaged will be because you deliberately plan and provide consistent client experiences that demonstrate to them, over the passage of time, clearly and unmistakably, that they are a unique, valued and vitally important person in your life, personally, as well as your business.

It's not that they love you or even the products or services your business provides. It's that you've convinced them that they are important to you.

Think about it in romantic terms. Would you 'engage' or commit yourself to a long-term relationship with someone if you didn't believe that they truly cared about you—enough so that they care about you more than themselves and put your interests above theirs?

That's what it takes to stimulate engagement!

Elizabeth Kraus | 12monthsofmarketing.com

Have you seen the new website?
Check out the new design, find out what's available
and what's coming next [ here ].

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Monday Morning Musings

Not a lot in the way of market moving news this morning. Earnings reports are slowing down to a trickle, and there were no economic reports today moving markets. With that backdrop, attention falls back on Europe as the driver of sentiment.

Although Asian markets were higher overnight, Europe opened lower this morning amid concern about new leadership in Greece in Italy and whether officials will be successful in dealing with the precarious fiscal and financial conditions in the region. Italy was able to hold another bond offering, but yields there are at record highs for the euro era.

The euro is also weak, which is boosting the dollar. That is weighing on commodities with oil prices down to $97.35 and gold prices easing back near $1778.

The 10-year yield is higher this morning near 2.08%. As for the VIX, it is +5.5% higher right now back above the 30 level to 31.70. But it has been consolidating below its 50-day and does appear that it could move to lower levels if the focus could move off of Europe for more than a couple of days.

Trading comment: There are individual stories that are working in terms of stocks. I still feel that there is somewhat of a bid under the market, that will be there on pullbacks. The market has been consolidating its recent runup and I think there is a good chance that it gets resolved to the upside into year end. The ongoing risk of headlines out of Europe is something that is too difficult for anyone to handicap accurately. If things stay the same over there for the time being, investors may look past it for now. But if another shoe drops we know that selling can pick up in a hearbeat, just like it did last Wednesday. Stay nimble.

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November 14 is Loosen Up, Lighten Up Day

November 14 is National “Loosen Up, Lighten Up” Day. If you've been procrastinating on getting your marketing in shape to 'loosen up' customer's purse strings and 'lighten up' your load by getting your business going this is the perfect time for you craft some special promotions and seek out some strategic marketing partners.

  • Hold a special skin bar-happy hour focused on helping clients lighten up their complexions with proper cleansing and makeup preparation and loosen up wrinkles to reverse the signs of aging and fight damage caused by harsh winter and other environmental factors.
  • Partner with a caterer or restaurant (and possibly with a party planner) for a special holiday party how-to happy hour (for both sets of clients) to provide healthy, light refreshments at a holiday-party class. Include complimentary makeup demonstrations or free touch ups and send clients home with retail makeup purchases and with the recipes for the light party fare, instructions on re-creating holiday 'tablescapes' and other entertaining tips which they can use to entertain their guests during the holidays.
  • Partner with a local gym or fitness trainer for cross marketing; or work together to create a “loosen up, lighten up” promotion which includes fitness/diet/weight loss coaching and workouts to prepare for the holidays.
  • Create a special collection of makeup and skin care products that help loosen up wrinkles and lighten up the complexion to offer at a special price.

***

Elizabeth Kraus is the author of 365 Days of Marketing.


Dispel all of the little white marketing lies that might be holding your business back - check out the 2012 Small Business Marketing Calendar: Little White Marketing Lies on amazon.com.  With hundreds of marketing ideas laid out for 2012, you'll get into a marketing groove and build a bigger role for your business in the lives of your clients.

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Sunday, November 13, 2011

What You Should Do Before You Daily Deal

Toward the end of his article, “The Real Repercussions of Discounting,” Darryl Manco made a very important point. In essence, he asks why you’re trying to cure what ails your marketing with the wrong medicine.

Here’s what I mean.  In marketing 101, you learn the "4 P’s" of marketing:
  • Product (the products or services you sell)
  • Price (what the buyer must pay in exchange for your products and services)
  • Placement (where you will sell the products or services and the means by which you will get products and services to those places) and
  • Promotion (how you will attract and persuade buyers).

The only time discounting is the right cure for your problem is if your product or service is priced incorrectly; in other words, it’s not worth what you’re asking for it. By discounting, you send the message that whatever is discounted does not have value equivalent to its normal price (i.e., its worth less than you said it was originally—and couldn’t this lead the buyer to question your integrity – as the price-setter – as well?)

So then, if “price” is not the problem, why would you try to solve the problem by discounting?

I’ll tell you why: it seems like a quick fix, a bandage, a medicine that will take care of the symptoms.

Don’t we often medicate ourselves that way? It’s like taking a sleep aid when you have a cold. Sure, you’ll sleep, but it does nothing to help fight the cold and make you better.

When you have a cold, that’s probably harmless. But in business, covering up the symptoms can be deadly.

Assuming that your products and services are, in fact, priced fairly and in accordance with their value, what problem do you really need to cure:
“Product” problems:
  • You’re not offering what your current clients, ‘ideal client’ types and target markets really want or need

“Placement” problems:
  • Your business is located in the wrong place for your product-price-promotion mix
  • The way in which you provide these products and services (personnel, customer service, etc.) is not up to par; it doesn’t help stimulate repeat business, referrals, retention or customer loyalty

“Promotion” problems:
  • You are doing little, if anything, by way of marketing beyond opening your doors every day, any marketing that occurs is by accident
  • You have not taken the time to identify your ‘ideal client’ types
  • You know your ideal client types but have done nothing to reach out to these target markets
  • You don’t have anything that even remotely resembles a marketing plan and all your marketing ‘efforts’ are one and done attempts
  • You don’t have any incentives for customer loyalty and referrals
Before you daily deal, identify the real problem. 

Once you have identified (and hopefully, dealt with) the real problems, if customer attraction is one of your top priorities, here are some things you need to remember before you daily deal:

Your location-based offer needs to be part of your overall marketing plan. It is not a substitute for a marketing plan. It should be one of many other tactics you employ in order to attract new clients.

If you do extend a location-based, deep discount, here are some things you need to know:
  1. You will be selling a product or service at less than 25% of its regular price and its real value. Rather than discounting any one of your regular products or services, create a special product or service to offer. That way, your regular clients will not perceive that you’ve charged them twice as much as deal-buyers, nor will they be able to put a reduced-price value on your regular products or services.
  2. Realize that your regular customers are going to be impacted. One, some may feel that you’ve been overcharging them for the same service or product you’re now willing to discount. Two, and probably even more importantly, if you have an influx of ‘new customers’ by way of daily deal purchases, the level of attention, customer service and product or service quality you impart on your regular clientele may suffer.
  3. Getting a new customer in the door is less than half the battle. You should not expect that a large percentage of these daily deal buyers will ever become long-term customers. You need to plan to expend the same level of quality of care and customer service on these individuals – if not significantly more – than you do your regular customers if you hope to have them return a second time. You also need to be aware that:
    • Few, if any, will be among your ‘ideal client’ types or target markets in terms of where they live, lifestyles, interests, etc.
    • Few, if any, will live within an area local enough to your business for you to expect repeat visits. For example, my neighbor is a big groupon buyer when it comes to personal care services such as waxing; in many cases, the businesses she buys from are 45 minutes away or more. There is little, if anything, these businesses could do to persuade her to return and purchase their services at their regular price.
    • The vast majority will be motivated by price alone and will be unlikely to purchase your products or services (or add-ons while at their ‘deal’ appointment) at regular prices.
    • Most are using the daily deal sites to get what they would buy anyway at a deep discount. They are motivated by the discount, not the quality or type of product or service. When they leave your business, unless you “wow” them like they’ve never been wowed before, they’ll be thinking about the next deal they want to redeem, not about their next visit to your business.
  4. You're going to wait a while for your money. Groupon holds funds sixty days (or longer) so don't count on this model for a quick influx of ready cash.
The fact is, a lot of business owners thought that groupon and other daily deal sites were going to provide a work-around for their real problems, or at least it would give them so many new customers that they wouldn't have to identify and do the harder work of solving their real problems.

There have never been shortcuts to doing things well in business – and there still aren’t!

The road to success, client acquisition, loyalty and referrals remains what it’s always been: knowing your customer, giving them what they really want and doing so in ways that exceed their expectations, over and over again.

If it’s time for you to do the work of creating a marketing plan, branding your business or building the employee culture you need to achieve lasting success, I’d love to help.

The only thing worse than doing something wrong for a year, is doing something wrong for a year and 1 day. It’s time to put your business and your customers first, return to the ideals that made you open your doors and do what you first set out to do!

***

Elizabeth Kraus is the author of 365 Days of Marketing.

Dispel all of the little white marketing lies that might be holding your business back - check out the 2012 Small Business Marketing Calendar: Little White Marketing Lies on amazon.com.  With hundreds of marketing ideas laid out for 2012, you'll get into a marketing groove and build a bigger role for your business in the lives of your clients.

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Saturday, November 12, 2011

Free publicity for military spouse-owned businesses!

Are any of you active military or spouses of military members?

There's a site that would love to help promote your services, products, brick-and-mortar, home-based business or cottage industry -- free of charge.

Niche USA is dedicated to promoting military and military spouse-owned businesses and entrepreneurs!


Check out Niche USA and tell your friends!

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