COVID-19 is dramatically changing consumer and business behaviors today. Undoubtedly, many of those behaviors will remain long after the diminishment and defeat of the virus. New behaviors become permanent the longer they are in place. And in this case, one of the primary human emotions, FEAR propels and engrains the behavior changes.
Wed, Feb 10, 2016 — Simply stated, a company markets because it is looking to get from one place – its base – to another place. They want to go from a position of low visibility to a position with higher visibility. They have a reputation for doing one thing, and want to expand their audience’s perception to include other things. Mostly, of course, they want to go from their current level of sales, revenues and profits to a level where they enjoy more of all these things, most certainly profits. As with any journey, where you are at the start – your base – is an essential element when planning for your company’s growth.
Sun, Dec 22, 2013 — A recent Wall Street Journal article by Francesco Guerrera, Lenders Looking All Too Similar, quoted a tycoon as stating he chose his financial services on price, because “in the end, banks are really all the same”. This is the last thing any of us want to hear about our business, especially if we are in an industry that prides itself on spending a great deal of time developing an understanding of our customers and creating and marketing solutions designed to appeal to their unique needs. Supporting the belief that strategic innovation can make a difference, Bloomberg BusinessWeek’s article Rural Banks Know Something Big Banks Don’t by Brendan Greeley argues that great customer service combined with other good business practices can produce a good return for shareholders.Over the past year I’ve had the opportunity to work with several community banks and credit unions, and have been impressed with how they are able to defy the premise of the WSJ article. Here are 5 marketing strategies on how nimble organizations have been able to understand their customer and move faster and/or smarter than their larger competitors.
Wed, Jun 19, 2013 — Today's blog is by guest blogger, Curt Cyliax. How can you boost your company’s short-term earnings while maximizing long-term value? After managing the purchase and sale of a number of companies, we’ve identified five primary drivers to maximize business value. If you’re a business owner who plans on selling a business or transfering your company in the future, you’ll want to know how you can maximize the value of your business, make it more attractive to potential buyers, and get top dollar for your business.
Sun, Jan 6, 2013 — I recently conducted an exercise with the executive team of one of my clients. The exercise led to a breakthrough idea for their business. In reality, the idea was a combination of several, some of which had been discussed by this executive team in the past. But no one had made a connection between these ideas – and adding a new twist made it all come together. Since the idea has not been implemented yet, and revealing too many details here could potentially telegraph important information to key competition, the client and some of the details will not be disclosed. But what is really instructive here is the process, which can be used with almost any company or department or group within a company.
