Introduction to Growth

December 2, 2019
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The pressure to grow has never been greater that it is today. And this explains why nearly 50% of current S&P 500 companies are forecasted to be replaced over the next ten years. This dynamic creates three imperatives for leaders. First, they must understand when core businesses need to change. Next they must determine what their new core business should be. Finally, they must understand the conditions for successful adjacency expansion so they can increase their odds of success.

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How Do You Know When Your Core Business Needs To Change?

November 29, 2019
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Understanding when to focus, when to expand and when to redefine a core business has become leadership’s #1 imperative. While it is common for companies to abandon a core businesses too early, it is also common for them to cling to eroding ones for far too long. When core businesses actually are out of gas, it is usually for one of three reasons: 1) Your company is targeting a shrinking or shifting profit pool, 2) your company has inherently inferior economics, or 3) your company’s growth formula simply cannot be sustained. Knowledge Test

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How Do You Determine What Your New Core Business Should Be?

November 29, 2019
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Research on the disruption and redefinition of core businesses suggests that hidden assets often become the centerpiece of the new core business. And these hidden assets tend to fall into one of three categories: 1) Undervalued business platforms operating in your company today, 2) untapped insights into customers that enable you to satisfy a broader array of their needs, and 3) underexploited capabilities that can be redeployed successfully in adjacent segments. Knowledge Test

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The Conditions For Successful Adjacency Expansion

November 29, 2019
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Expansion into adjacent markets is a risky proposition that succeeds only about 25% of the time. Research suggests that successful companies share two common features: 1) A strong core business to build on and 2) a repeatable formula for adjacency expansion. While the majority of repeatable formulas are build upon customer driven insights, the efficient build out of networks and the application of core skills in new markets can be other viable ways to grow. Knowledge Test

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Customer Retention (Part 1)

April 8, 2019
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Research across a wide range of industries suggests that small improvements in customer retention can yield massive improvements in operating profit. These dynamics are even more consequential in the era of subscription businesses. Consequently, leading companies invest significant time and effort in pre-framing the customer experience. They also heighten the emotional experience at purchase to reinforce their customers’ choices. Knowledge Test

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Customer Retention (Part 2)

April 7, 2019
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Smart companies take steps to minimize buyer’s remorse while orders are being fulfilled. They remove any potential barriers that can create negative first impressions. They also outline who’s who in their organizations and what they will be doing to support the customer. They explain what is happening now, what will happen next, why this step is necessary and how it contributes to the overall goal. Knowledge Test

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Customer Retention (Part 3)

April 6, 2019
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Smart companies celebrate customer success because it presents natural opportunities to extend existing contracts and secure new ones. Customers who welcome your product or service into their routine become emotionally open to expanding their use of your offerings. Smart companies offer these customers new reasons expand their relationships. They also focus on securing reviews and facilitating referrals from their loyal advocates. Knowledge Test

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Choosing the Right Tool for Each Job

December 5, 2018
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The first level of integrated campaign proficiency is choosing the right tool for each job. To do this, we begin by assessing our campaign objectives. Promotional campaign objectives help guide our selection of promotional vehicles. There are four main campaign objectives: Raising awareness, generating trial, increasing usage and building loyalty. Each objective has specific requirements that relate to exposure quality, location, precision and cost. By ranking promotional vehicles on each of these requirements, we are able to identify the ones that best support each objective.

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Achieving Campaign Synergy

December 3, 2018
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The third level of campaign proficiency relates to achieving synergy. Research suggests that there six proven ways for achieving synergy: By leveraging familiarity, relevance, content type, timing, channel affinity and tactical coordination.

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Measuring Marketing Outcomes (Part 1)

December 3, 2018
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There are three common methods for measuring marketing outcomes: Test versus control analysis, regression analysis and probability analysis. Test versus control analysis is the gold standard because it provides the most accurate assessment of promotional impact. Regression analysis can be a useful tool for identifying promotional relationships but results should be interpreted with caution since correlation does not imply causation. Finally, probability analysis can be useful for estimating the promotional impact of programs that have yet to be implemented.

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Measuring Marketing Outcomes (Part 2)

December 3, 2018
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There are three common methods for measuring marketing outcomes: Test versus control analysis, regression analysis and probability analysis. Test versus control analysis is the gold standard because it provides the most accurate assessment of promotional impact. Regression analysis can be a useful tool for identifying promotional relationships but results should be interpreted with caution since correlation does not imply causation. Finally, probability analysis can be useful for estimating the promotional impact of programs that have yet to be implemented.

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Three Facts About the Mind that Every Marketer Should Know

October 24, 2018
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The three facts about the mind that every marketer should know are that 1) minds are limited, 2) minds are insecure and 3) minds hate confusion. To navigate daily life efficiently, the mind leverages short cuts to make good decisions. By understanding these short cuts, marketers can develop offers that resonate more effectively with the customers they are pursuing.

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Introduction to Market Segmentation

October 23, 2018
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This segment explains why traditional market segmentation methodologies often improve products in ways that are irrelevant to customers’ needs. It also explains why jobs-based market segmentation enables us to more reliably predict the product and service changes that will result in increased customer demand.

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The Six Principles of Persuasion (Part 1)

October 31, 2014
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According to Robert Cialdini, there are six basic principles of persuasion: Scarcity, social proof, authority, consistency, reciprocity and liking. These principles are deeply rooted in our behavioral psychology and that’s what makes them so compelling. Consequently, effective communication campaigns should begin with an assessment of the principles that can be leveraged. While the application of a single principle is good, the use of two or three in combination is almost certainly better.

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The Six Principles of Persuasion (Part 2)

October 31, 2014
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According to Robert Cialdini, there are six basic principles of persuasion: Scarcity, social proof, authority, consistency, reciprocity and liking. These principles are deeply rooted in our behavioral psychology and that’s what makes them so compelling. Consequently, effective communication campaigns should begin with an assessment of the principles that can be leveraged. While the application of a single principle is good, the use of two or three in combination is almost certainly better.

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