Posts Tagged 'Jeffrey Hayzlett'

Pareto’s Principle

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In order to drive your change, you have to know who your best customers are.  If you are not sure, just remember Pareto’s Principle, or the “80-20 Rule”, which states that 80 percent of your business comes from 20 percent of your clients.

This is as true a rule as I have ever encountered, particularly in small business, which is why so many business books continue to cite it.

I like to call my 20 percent “pie” and the 80 percent “ice cream”.  The pie is the substantial and filling part of the dessert; it supports the ice cream, which fills in the spaces. 

Questions to ask your best customers (the 20 percent):

  1. What does my business mean to you and your business?
  2. Why do you come to me?
  3. What are you planning and how can I fit in?
  4. Where are your biggest needs?
  5. What are your dreams?

In order to make and keep new customers, get to know everything about the “pie” people, but work hard to maintain and keep the “ice cream” people.

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Add Value

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Do you know how much I love the warm cookies they serve at the Doubletree?  I think about them when I am at other hotels.

We often focus on adding value with your customers, that’s easy… get to know your customers and their business better than they do.  But what about the value within your own company?

As mentioned in an article by Fast Company, research shows that the more leaders achieve, the more we tend to want to “be right”.  Suggestions at the CEO level can come off as an order to your employees, even if you don’t want them to.

If you want to add value to your customers’ experience, then make sure to add value within your own company first.

  • Spend time with your employees asking them questions.  You will turn your employees into your customers’ associates.  They will all start working to improve your bottom line
  • Involve everyone in every aspect of the business.  I believe in complete transparency and making everyone feel like they are involved in the big picture (something you cannot do in many big businesses)
  • Chart progress. Set clear goals and follow budgets – but don’t pick out the small mistakes.  Trust your people enough to make small mistakes that won’t cost you much, but are of great value for them to learn from.
  • Reward good behavior. Remember to keep your company’s mood positive.

If you create brand ambassadors within the company, then it will expand to outside the company.  Running through a gauntlet is a lot easier when you have a stampede to run it with you.

 

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SnapTags: The Next Big Thing in Mobile Marketing

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How many of you have actually scanned a QR code?  How likely are you to scan another one?  And what did you think it was the first time you saw it?

When I first started seeing these things, I liked the bridge that they built between my real life and my digital life.  What I didn’t like was how darn ugly they looked!  I mean, what marketer would create something so ugly to represent or sell their product?

But, it’s all we’ve had…  until now.  I recently discovered SpyderLynk, a company that has developed SnapTags, which I have come to call “Brand Tags”.  The truth is that this technology is a far superior alternative to QR codes for most brands. They’re smarter, sexier and much more accessible (no “reader” required).  They turn a logo or icon into an interactive marketing campaign, one that you can track and use to build relationships with your customers.

I have used SnapTags to introduce each chapter of my new book, Running the Gauntlet. The SnapTags offer a direct link to related video content explaining the core concepts featured in each chapter, and allows me to interact with you through a one-to-one conversation.

Have you considered how you will integrate mobile marketing into your overall plans?  And don’t tell me that you have a strategy because you have developed an iPhone app!

To your left is a SnapTag that I want you to try – it will link to a video of me talking about my new book!

How to snap:  Either download the SnapTag Reader through AndroidMarket or iPhone App Store, or text to 77865

Happy Snapping!

 

For more information about SpyderLynk and SnapTag, view the most recent Press Release

 

 

 

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#CyberMonday is Right for Competitive Change

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#CyberMonday has become the #1 online shopping day of the year – In order to keep a competitive advantage, business leaders must follow these steps to drive a competitive change.

List for Competitive Change:

  1. Know Your Conditions of Satisfaction.
  2. Have a winning attitude – get over your fear and be a beginner.
  3. Know your business and the business of good management.
  4. Have enough money and capital to move ahead.
  5. Pay attention to details.
  6. Build a team that can succeed.
  7. Manage your time better – get out of the way and delegate.
  8. Have the tools to complete the job you promised.
  9. Keep the customer satisfied with your quality and responsiveness.
  10. Compete smartly and power through your promises.
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“The Big Idea Chair”

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What can you do to perfect the mood of your company?  Bad mood can ruin a company faster than bad business.
I hear leaders talk about changing the culture of a business, and I say fine, but the most important thing you can do is start by changing the mood.

Yahoo!’s “Big Idea Chair” is a great example of a company using their brand power to reward the members of their community for great achievements.

Patrizio Spagnoletto, VP Marketing Yahoo!, and driver of awareness of Yahoo! Services in US, Canada and Latin America, told me, “For Yahoo! The Big Idea Chair has helped us be part of the conversation around creativity but more importantly given advertisers a top of mind choice to show their (creativity) on Yahoo! itself.”

When you change the mood, you change the attitude and take the right steps toward changing the culture.  Whether it is a big purple chair or something else, mood makes your place and your people feel that the business’ best days are in front of it.

Make your business look and feel ALIVE!

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