Tuesday, September 6, 2011

Lowest Common Denominator Marketing.


Announcing that you're offering customers a great product for a low price is hardly revolutionary. But I thought the French Connection lesson had long since been learned.

Notwithstanding the moral responsibility that marketers share with all public communicators, the issue here is that of consistency. Short-term controversy generates noise and that's fine, but it is just short-term and it mustn't be allowed to distract from the overall tone of voice.

Standing out is only half the equation. You need to ensure you stand out for the right reasons.

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This week's style, strategy and marketing savvy newsletter - now online!

Get the article links online at www.12monthsofmarketing.net/sept6.html

In this issue:

Original content
- Why Old-Fashioned Customer Service is Still the Key to the Customer's Heart
- Build Business by Going Back to School
- Do you believe in magic?
- September is Courtesy Month (excerpt, 365 days of marketing)

More success strategies
- "Shop Small" resonates with local consumers
- 4 steps to a timeless business strategy
- The best employees are the most unusual
- Where your brand lives
- 5 keys to a solid brand identity
- 10 step double-dip survival guide for entrepreneurs

“You have to expect things of yourself before you can do them.”
Michael Jordan

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

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U.S. Stocks Follow European Markets Lower

The market is sharply lower in early trading following sharp losses in Europe yesterday while our markets were closed. The debt issues in Europe continue to worry global investors, and the piecemeal solutions have done little to quell those concerns. 2-year Greek notes are yielding 55%, so you can see there is a lack of confidence.

Overnight, Asian markets were mixed with Japan down but Hong Kong bouncing. But that was little comfort to U.S. investors where sentiment remains downbeat.

There was a good piece of economic news this morning in the form of the ISM Services Index which rose to 53.3 in August from 52.7 the prior month. That reading was better than expected, and led to a brief rally in the markets.

The dollar is higher today, after the Swiss National Bank said that it will fight the appreciation in its currency at all costs. The SNB called the swiss franc "massively overvalued" and said it is willing to purchase foreign currencies in unlimited quantities to alleviate this condition. So far today, the Swiss franc ETF (FXF) is down -7.8%.

The flight to safety trade is alive and well today, with buying in the dollar, Treasury notes, and gold. The yield on the 10-year note has fallen to 1.95% currently, and gold prices have reached $1900. Interestingly, silver is lower today. As are oil prices, back near $85.50.

The volatility index (VIX) is spiking +16% today back near the 40 level. But as you can see in the chart below, it looks like the VIX is putting in a series of lower highs. At some point this could lead to a sharp move lower in the VIX, which would coincide with a move higher in the market. I'm just saying.

Trading comment: My recent cautious stance seems more than warranted given the sharp 3-day slide we are in the midst of. I am certainly glad we remained defensive and didn't get sucked into those low-volume rallies that made some folks feel complacent that the selling was over. That said, earnings estimates have held up remarkably well so far. And I think something needs to give. Either estimates start to get cut later this month, to justify the move lower, or the market will likely have a nice snapback rally into quarter end.

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Sunday, September 4, 2011

September is Courtesy Month

Think about how many people in your organization have the ability to impact the customer experience; not just in direct provision of services or products, but who simply personally interact with customers, inside or outside of the walls of your business. People who interact personally with your customers and prospects for any reason: casual meetings, taking orders, completing sales, answering questions, fielding complaints or giving directions.

Sales, growth, customer relations, loyalty and retention — with so much riding on the outcome, can you afford to assume that everyone in your organization knows what constitutes courteous behavior? It's vital that all of your employees understand how they have the ability to impact the customer experience in even the most casual interactions. Set expectations relative to interpersonal interactions and behavior toward customers and co-workers.

You have to expect things of yourself before you can do them.
(Michael Jordan)

Provide training as part of new employee orientation and employee development programs. During the hiring process, ask references whether candidates were courteous toward co-workers and customers. Demonstrate the importance of courtesy by bringing in guest speakers to enhance employee training and development.

Tie performance expectations and salary reviews to your standards of interpersonal behavior and hold employees accountable. Ask employees to agree to uphold the promises you make to customers. Show your commitment to courtesy by recognizing employees who demonstrate consistently high levels of customer service in this area.

Most importantly, demonstrate courtesy yourself in all of your interactions, from customers to vendors to employees.

Once you have the internals in place, tell your customers what they can expect in terms of courteous behavior each and every time they interact with you or any of your staff. Ask customers to share examples of extra-ordinary customer service, those times when employees go beyond the call of duty. Conduct customer feedback surveys to find out if you are keeping your promises and making the grade.

Remember, unless you are the only business who provides a particular service or product, it's not what you sell that sets you apart. What sets your business apart from the competition and creates the customer perception that you cannot be replaced, is how you make them feel, each and every time they do business with you.



365 Days of Marketing is now available on amazon.com in book and digital formats as are my other books, Make Over Your Marketing and 12 Months of Marketing for Salon and Spa. Find more ideas and inspiration, subscribe to e-mails, read my blogs, connect with me on Facebook or visit 12monthsofmarketing.com.

It's going to be a great year!

Elizabeth Kraus

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Friday, September 2, 2011

Once Again, ADP Report Shows No Correlation With Monthly Jobs Data

The market is lower in early trading on the heels of a very disappointing monthly jobs report. The nonfarm payrolls data showed that the economy added zero jobs in August. That is well below both the consensus figures (70k) as well as the whisper numbers going around yesterday.



Additionally, private payrolls only increased by 17,000, far less than the 110,000 that had been expected. And the unemployment rate remained elevated at 9.1%. Today's report was another indication that the ADP report that comes out two days before the NFP report has not bee a good leading indicator.



Asian markets were lower overnight, and Europe markets were down this morning amid weakness in the banking sector. Our banks are also sharply lower today after news reports that the FHFA is going to sue some large banks over mortgage-related matters.



The dollar is higher today, which is weighing on most commodities. Oil prices are down to $86.50, and ag prices are lower also. Gold and silver are both higher, benefiting from the flight-to-safety trade, with gold prices back up to $1875.



The 10-year yield is dropping again, back down to 2.06%. Last time down, we saw the 2.0% level hold. As for the VIX, it is up +5% currently to 33.35.



Trading comment: The last 2 sessions validate why I wanted to remain cautious. The volatility we have seen has not left the market, although I hope it peaked in August. But we have not heard any concrete solutions out of Europe, and recent economic data has not been all that great either. I would be surprised if we retested the August lows so quickly. Rather, I expect September to bring choppy trading, but one where traders might be able to buy into support levels and sell into resistance. For investors, my advice is to remain cautious and defensive.

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Fridays 5 - Marketing Shorts and Sweets

I presume (and hope) that many of my regular readers will be off enjoying this summer-but-end-of-summer day, especially with the long weekend coming. My guess is that there will be little going on online after mid-day, or even mid-morning today -- and that is not a bad thing!

I'm going to hold my Monday newsletter for Tuesday release instead - [click here] if you want to be on the receiving end of that one (it's going to have some really good article links!)

Here are today's 5 short and sweet bits of marketing fun - enjoy, and have a great weekend!

[READ] The Best Customer Service Tip Ever
October is Customer Service Month, so you can expect to hear a lot on this topic from me. Here’s the real key, by way of Drew McClellan, but you have to “pinky swear” to do it!


[READ] 10 New Words Every Business Owner Should Know
I’m not sure whether this article meant to be funny or thoughtful, but it turned out a little bit of both for me. See what you think: Entrepreneurs need to keep up with the new business-related words and lingo that pop up almost every day. Here are ten “need to know” new words from the 400 recently added by the publishers of the Concise Oxford Dictionary to their 12th edition.


[READ] Pencil Shavings as Jewelry
If we remember correctly, one of the best timewasters in elementary school was getting up to sharpen your number-two pencil. Dublin-based Etsy shop KarolinFelix Dream has seen the value in these shavings, rescuing them from the garbage pail by making trippy accessories out of them. Consider these the perfect vicarious accessory for those of us sad about not going back to a campus this fall.


[READ] 8 Ways to Conquer Facebook Status-es
The most interesting status updates are likelier to make it into people’s Facebook news feeds thanks to the Edge Rank algorithm — simply put, the more likes and comments on a post, the greater the visibility. There are eight ways to increase your status updates’ visibility, according to Post Planner.


[READ] The 15 Wackiest Things People Listed on Their Resumes
Given that 45% of recruiters say they spend less than a minute reading a resume, it’s understandable that some people go overboard trying to bring some individuality to their work history. Rosemary Haefner, CareerBuilder’s VP of human resources, says to skip this kind of differentiation, saying that, “many times, it’s a disqualifying distraction.” See what HR professionals submitted as the wackiest things they’d seen on candidate resumes.


"Do Lipton employees take coffee breaks?" (Steven Wright)


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

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Thursday, September 1, 2011

Stocks Flattish Ahead of Friday's Jobs Report

The market has been dancing around the flat line so far today. Asian markets were higher overnight, but Europe was lower this morning after some disappointing manufacturing data out of France and Germany.



Here in the US, the ISM Manufacturing Index for August came in at 50.6, which was better than expected. A reading over 50 indicates that the sector is still in expansion mode (under 50 signals contraction). Initial jobless claims were basically in-line.



Other than that, there has not been a ton of market moving news today. Participants are awaiting tomorrow's monthly jobs report. The consensus estimates are for an addition of 70,000 jobs, although I hear Goldman Sachs just lowered their forecast to just 25,000.



The dollar is lower today, but so are most commodities. Oil prices are flat near $88.75, and gold prices are down slightly around $1826.



The 10-year yield is lower today to 2.18%; and the VIX is down another percent near the 31 level, but still unable to break below that psychological 30 level.



Trading comment: The market has pretty much worked off its recent oversold condition with this last 4 day rally. Volume levels will remain light ahead of the Labor Day weekend, but next week things should start to heat up again and we will see if the market can continue to build upon its recent base and work back towards the SPX 1250 level. I continue to trim cyclicals on strength and favor defensive stocks with yield in this environment.





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