Can your business harness fun to drive customer behavior?… Check out this link and see how far a little fun goes! http://www.thefuntheory.com/
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Posts by AJ Sue
I am a guy who loves a good story. Sure, lots of folks have information, but I just want to hear a story that helps me understand and remember. My experience in corporate finance, strategy, operational testing has taught me about a lot of information (booooring!). Luckily it also taught me that although no one really cares about the ingredients...they sure remember what you baked. So I say make a story of it and let them eat cake, at least they'll remember it. AJ is a Wisconsin-based corporate strategist who has contributed sound advice on Storymanager's market positioning and content base. He's also Steve's brother, but don't hold that against him... but if you think his picture is dorky, it's fine to hold that against him.
Fun Counts. Get Some.
Got Good Karma?
We are the heirs of our own actions ~ Buddha
Definition: Karma noun: action, seen as bringing upon oneself inevitable results, good or bad, either in this life or in a reincarnation.
I am a strong believer in giving back to the community. We should all do it as individuals and businesses. Giving back just plain feels right. Whether you sponsor the little league team, or allow your workers to volunteer around town, or if you have a full blown corporate cause marketing effort, giving back to your community is pretty cool…it helps those in need, it gives people a sense of purpose, it makes your workers proud, and it connects you to the community. And as a bonus, I think it’s good for your business karma.
Business Karma? …who puts these two words into one phrase?
I do. Now I am not a religious guy…but I really think there is something to this whole business karma thing. I think that giving back to your community is smart business. It builds our brands and drives consumer awareness and loyalty. Nice. But since I can’t really measure this benefit, I wonder what it is I really believe in… maybe Karma? All kidding aside, karma is simply causation…good begets good, bad begets bad, blah blah blah. Not surprising to me…it’s what’s been said in so many ways throughout history:
- Buddists: “Everything that you have done has lead up to what you are now. Everything you do now will lead up to what you will be.”
- Christians: “Whatsoever a man soweth, that shall he also reap.”
- Moms: “If you don’t have anything nice to say, don’t say anything.”
But it is a little surprising that so many businesses don’t seem to get the ”karmic” connection between business generousity and business success. The karmic reactions of customers may be tough to measure, but they are definite and hardwired: generosity begets loyalty. duh. Here too history is rife with examples:
- Mother Teresa, took care the sick, poor and dying, and won the Nobel Peace Prize.
- Google wanted to help people find stuff on the web more easily, gave away a lot of free stuff and became one of the highest market cap companies in the world.
- Martha Stewart, sold Imclone stock on a “tip” and saved $51,000, but derailed a billion$ empire
You may not believe that Karma is a cosmic business force, but just in case it is, figure out how your business can give back to the community and maybe place a little karmic hedge bet to be on the safe side.
Are you running in the pack or breaking away?
You win by starting fast and staying in front of the pack
Hey gang, AJ here….my daughter runs cross country and here’s what she told me before yesterday’s race, “You win by starting fast and staying in front of the pack.” I was stunned by her simple strategy…not just because it really works for cross country running, but because of how insightful it is for business too. Why? Well I think that there are at least three important ways this strategy applies to business:
- “Leaders run their own race”: If you’re with the leaders you’ll be able to focus on running the way you run best. In business this means you can focus on your best play and concentrate on your competitive strengths that are reliable and that enhance your uniqueness in the eyes of your customers! Being out front means you are running the race your way.
- Pack runners waste their energy dodging the competition: If you’re running in the pack you are probably wasting energy short stepping, bumping into competition, and trying not to trip/wipe out. In business you want to spend your time and effort proactively delivering on your unique service proposition, not reacting to the competition. Are you more worried about tripping on the competition or moving your business forward your way?
- “The race is pretty much over after about the first 1/4 mile”: The actual first place runner may not be known until the finish line, but at the 1/4 mile mark, it is pretty clear which runners won’t finish in the money! In business, it is very difficult to make up ground on established market leaders so you always need to keep them within striking distance. If you aren’t near the front defining the pace and the market standards then you will just be one of the many companies in the pack working hard just to eat dirt. If you’re going to run hard anyway, you might as well run to win.
So here’s a few questions you might ask yourself whether you’re a runner or a business person:
- “Am I running with, a. the pack, or b. breaking away?”
- If you answered #1 with “a”, then ask: “How can I protect/increase my lead?”
- If you answered #1 with “b”, then ask: “Can I be a lead runner in this race?”
- If you answered #3 “yes”, then ask: “What should I be doing to break free of the pack?”
- If you answered #3″no”, then ask: “Am I in the right race?”
By the way, my daughter has consistently been finishing “in the money” at her races…nice, eh?
Will Your “Weakest Link” Break Your Profit Chain?
the best leaders will work to clarify and communicate company strategy and market positioning to ensure the entire team works to keep us on the right track
My old skool newspaper is wet…does anyone care? Well I certainly do, and so do the other subscribers on my street. Should you care too?
You should, because you are only as good as your weakest link. You may have the best reporters, the best editors, the best marketing, and the best printing, but if the guy you choose to deliver my newspaper can’t keep the paper dry, then the effort of the rest of the team may not matter. You don’t lose customers because of what you do well, you lose customers because of your weak links.
For businesses of any size the “weakest link” phenomenon can mean the difference between profits or losses. Earning new customers is tough enough, but as staff grows and company success becomes increasingly dependent on people whose experience and commitment may be less than yours, your company’s ability to execute successfully may be greatly impaired.
Having weak links may be unavoidable with growth, but you can reduce the risks. As you grow, you will probably need more people on your team; you may not be able to be the salesman, run the operations and personally deliver every paper to every subscriber. But you can work to minimize the weak link risks by clarifying and communicating the strategies, goals, and values of your company to the entire team. Keep everyone on the right track and help every team member make good decisions. If you do this well, the guy who you have delivering my paper will realize that delivering the paper dry is a vital part of what your company does, and I might not be an unhappy customer forced to surf the web for my news when it’s raining outside.
Business has always been vulnerable to weak links, but technology is raising the stakes. The digital age is creating many new products and services that give your customers alternative choices that will compete with you; My old skool example also highlights how you may be only a nudge away from losing customers to the new technology on the block. I still have my newspaper subscription for now, but as I surfed the web for news last week, I realized that my internet news is always dry, on time, and free. So now do you care whether my newspaper is dry or not?
Are You Chasing the Right Customers?
figure out who your best customers are...pursue them...win them over...nurture and protect them
It’s a maxim of life that “We may not like everyone we meet, and not everyone may like us either,“ it may be wise for companies to consider this wisdom in their pursuit of customers; While much of our personal lives are focused on impressing and hanging out with people who make us most happy and successful, businesses often seem to think that their goal is to garner the affection of every customer no matter the cost.
It’s vital that companies Invest your time and resources to take care of your best customers first and with preferential treatment. Concentrate on and satisfy those customers who are loyal and whose needs you can meet in ways that allow the business to succeed at the same time. I’m not suggesting that you send dear john letters to your less desirable customers, but you should do the stuff that takes care of your best, most loyal customers first, even if it means potentially losing a few less desirable customers along the way. By doing this you will keep your best customers, the ones who love you more and will help you be more successful and profitable.
No single business can expect to profitably meet the needs of every customer.It’s a fact that customers come in all shapes, sizes, and backgrounds, and their needs and expectations vary widely. So what cosmic force drives you to work tirelessly to try and win over customers who you just can’t seem to please or who just don’t fit your business model? You probably owe thanks on this point to Marshall Fields whose promotions helped engrain that “the customer is always right” into the American psyche. Who were they kidding?
There’s really only 3 key things to know about your company:
- Who are we? What’s your secret sauce really is..”What are you the best in the world at”
- Who are our customers? Who loves your secret sauce…”Who needs/wants what we’ve got?”
- How can you profitably win their love? “Make’m happy and Makum money!”
Always remember to spend your time attracting and hanging out with the people who will make you most happy and successful.
