Friday Book Review! The Analytical Marketer by Adele Sweetwood

TheAnalyticalMarketer_3D-237x290In her illuminating book, The Analytical Marketer: How to Transform Your Marketing Organization, author Adele Sweetwood, Senior Vice President of Global Marketing of analytic software giant SAS, tells the story of a large business-to-consumer prospect who came to SAS for information about customer intelligence software. SAS marketers sent representatives from the prospect more than 30 emails during a 90-day period. Unfortunately, none of them had anything to do with CI solutions but were focused instead on Big Data solutions and user-group meetings for other product offerings. These emails kept coming even after the prospect company had informed SAS that it had decided to use a competitor’s solution.

What went wrong? According to Sweetwood, SAS completely fumbled this opportunity because, she writes, “what we had failed to recognize was that this particular customer was in his ‘decide’ phase, meaning he was ready to choose a vendor to work with. Yet we were treating the customer as if he was still unsure about what he needed.”

The Customer Decision Journey

For Sweetwood, marketing analytics is not about the accumulation of big data. It is about knowing how to leverage this data to engage the customer in a personalized marketing conversation, one that is centered around who they are and what they need — or what she calls the customer-decision journey.

Today, Sweetwood writes, the customer-decision journey is not the company-driven process it used to be. Customers have the tools and data available to be the drivers of the process. They are the ones who control their interactions with the company. “That means,” she writes, “that how you as an organization respond to new customers — while nurturing and retaining existing customers — has also changed.”

Specifically, she writes, companies must 1) understand the decision or experience the journey of their customers, 2) identify a prospect’s location on this journey and, finally, 3) “leverage the data and analytics to tell your customer’s story and listen to it.”

For example…(click here to continue reading this review)

Review: Small Data By Martin Lindstrom

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The focus on big data — the aggregation and analysis of a seemingly bottomless pool of data on what we buy, what we watch, what websites we navigate and even whom we talk to on social media — is nearing “craze” proportions. Into the fray steps marketing iconoclast Martin Lindstrom, who argues that businesses need to put the databases and algorithms aside for a bit and focus instead on a different kind of data — data about the kind of magnets people have on their refrigerators, for example, or why single young men really buy Roombas (vacuum cleaning robots), or why store clerks began wearing T-shirts with Apple logos even though the store was not an Apple store.

These are all examples of what Lindstrom calls “small data,” and are taken from some of Lindstrom’s actual client projects as described in his fascinating new book, Small Data. As a branding consultant, Lindstrom spends 300 days a year traveling to people’s homes and workplaces to better understand who they are, why they do what they do and how this information — this “small data” — can help his clients serve them better. Lindstrom doesn’t just talk to his customers. He goes into their kitchens and their bedrooms, he looks through their drawers and purses (with permission), he examines the art they have on their walls — all in the hunt for the breakthrough clues that will lead to better products and services or more successful stores.

Click here to read this review in full.

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The Art of Social Media

HOW TO LEVERAGE SOCIAL MEDIA

Perhaps in a few years, as the leadership of companies is taken over by a generation that grew up with Facebook, Twitter, LinkedIn and the myriad of other current and future social media channels, there may be less need for books such as Guy Kawasaki’s The Art of Social Media: Power Tips for Power Users. Kawasaki, the former chief evangelist for Apple and author of the highly popular book on entrepreneurship, The Art of the Start, joins forces with co-author Peg Fitzpatrick, a social media strategist, to produce a short yet surprisingly exhaustive primer on the vast variety of tools and processes that individuals and companies can use to leverage their social media efforts.

Feeding the Content Monster

“The biggest daily challenge of social media is finding enough content to share,” Kawasaki and Fitzpatrick write. “We call this ‘feeding the Content Monster.’”

There are two ways to feed the content monster, according to the authors: content creation and content curation. Content creation is the traditional approach: writing copy, taking pictures and/or creating videos, and posting them. The problem is that such creation takes time, making it difficult to add more than two pieces of content per week to the page. Not enough, write the authors. The better approach, therefore, is content curation, which consists of finding high quality content from other people’s social media, then summarizing and sharing it on your page. The authors offer a list of 14 of their favorite curation and aggregation services that make it easy to find good content to curate. They do warn against too much straight sharing, which, they note, will “dull your personal voice and perspective.”

Moving from general to the specific, subsequent chapters range from how to perfect your posts, how to get more followers and how to respond to comments, to how to socialize events, how to run Google+ Hangouts on Air and how to rock a twitter chat.

One of the great strengths of this book is the succinctness of the advice offered. A chapter on “how to perfect your posts” exemplifies the authors’ cut-to-the-chase approach. One section, entitled “be visual,” argues that every single post should have a picture, graphic or video. You can be visual, the authors explain, by including a link to the original story or creating your own graphics, using a company called Canva. Taking a screenshot or “save as” picture from the source and adding it manually to your post is another option but could be legally tricky. The authors refer their readers to a University of Minnesota checklist to see if they are not breaking fair-use laws.

Opt for the E-Book Version

The Art of Social Media is available both as an e-book and in print. However, the University of Minnesota tip exemplifies the problem with the print book. There is no explanation of where to find the University of Minnesota checklist; instead, the words “the University of Minnesota provides a checklist” are underlined in the text, which signifies that it is a hyperlink in the e-book text. The book is crammed with such hyperlinks that will leave print readers frustrated, as these links substitute for examples.

The Art of Social Media is both comprehensive and succinct in its explanations of the myriad possibilities of social media. However, it is recommended to skip the print version and read the e-book.

How to Use Big Data to Win Customers, Beat Competitors, and Boost Profits

TAKING ADVANTAGE OF BIG DATA

When used car dealer Les Kelley launched the Kelley Blue Book, his target customers were used car dealers (and insurance companies and banks that made car loans). Dealers could consult the book and, based on the information it contained, have an idea of what price tag to put on their merchandise. Today, the target customers for the Kelley Blue Book, now free online, are used car buyers who consult it to have an idea of what they should pay for the used car they are buying.

The customer flip for Kelley’s Blue Book exemplifies the switch in power in the purchasing process from seller to buyer. Buyers are no longer dependent on sellers to give them the information they need to make a purchasing decision. So in this new purchasing paradigm, are sellers completely powerless?

The answer is no, and the reason, in large part, is what is commonly known as “big data.” As explained in The Big Data-Driven Business by LinkedIn marketing executives Russell Glass and Sean Callahan, in today’s world, buyers don’t have to go to sellers in order to find the information they need to make the right decisions. Instead, they can use a variety of digital search channels to gather any information they need and then approach the sellers.

However, write Glass and Callahan, the same digital capability that allows buyers to take the initiative allows sellers to follow what the buyers are doing. They track the websites and pages within those sites that buyers or potential buyers are visiting. They also track purchasing trends, which merchandise is popular at a given time, which items lead to the purchase of other items and a whole host of other customer-related data — so much data, in fact, that we now refer to all of this information as “big data.”

Such extensive tracking takes some sophisticated software, of course. This software, write Glass and Callahan, is what is known as the “marketing stack.”

The marketing stack includes marketing automation software, business intelligence databases, CRM systems, content management systems (which allow marketers to take over updating digital marketing content with minimal IT involvement), blogging and data management platforms, analytics tools, social media management platforms, search engine platforms, and other systems and software that, in essence, enable marketers to manage the accumulation and analysis of big data.

Principles for the Data-Driven Company

It may seem, from the litany of technological systems just cited, that establishing a big data-driven company is complex and expensive. It can indeed be complex. The chief marketing officer and the chief information officer must work closely together if a company is going to have any success at using big data. Some companies have started hiring “chief marketing technologists” solely responsible for the technology side of marketing. The bottom line is that all marketing professionals today must be at least knowledgeable about the technological components of the marketing function.

Using big data does not have to be expensive, however. In one of the most insightful chapters, Glass and Callahan offer 11 principles for successfully making a business more data-driven. Among the principles are, determine what you want to know about your customers and prospects; start small; don’t bet everything on technology (figure out first what you need, not what technology you want to use); and hire the right people — forget the art schools, and think about Star Trek conventions instead.

Glass, who heads B2B marketing at LinkedIn, and Callahan, LinkedIn’s senior manager for content marketing, present a guide for marketers in companies of all sizes.

Book Review: Absolute Value

by Itamar Simonson and Emanuel Rosen

by Itamar Simonson and Emanuel Rosen

It used to be that if you were selling consumer goods your field of play was limited to the shelf space immediately to the right and left of your item. People could compare packaging, price and quantity to determine if your item was worth their money and attention. In Absolute Value: What Really Influences Customers in the Age of (Nearly) Perfect Information, Stanford professor Itamar Simonson and best-selling author and executive Emanuel Rosen discuss what is causing the shift from relative to absolute value and how your company can make an impact. This book is now available as a Soundview Executive Book Summary.

Simonson and Rosen do an excellent job of compressing and presenting a mountain of research into concepts executives can absorb in a timely manner. The pair begin by presenting the new patterns in consumer decision making. One particular point of interest is the authors’ suggestion that there is a decline in the belief that marketers can cause buyers to act in “irrational” ways. As the pair write, “The relevance of these influence tactics has diminished in a world where people can easily assess quality. On average, better decisions are being made based on the information that’s available.”

Absolute Value then takes readers into a new framework for influence. Executives will want to spend a portion of time considering the ideas presented in a section on the Influence Mix. Simonson and Rosen write that three sources can impact a person’s decision to buy: prior experiences, preferences and beliefs, other people/information, and marketers. One of the most beneficial sections in the book pertains to matching your communication method to the customer’s influence mix. In a book filled with forward-looking insights, the authors’ advice will help guide marketing professionals into the next shift in commerce.

How to Create Strong Relationships with Consumers

Romancing the Brand. It sounds like the sequel to Romancing the Stone, the movie. But actually it’s a new book by author Tim Halloran. Here is how he begins the book.

“It wasn’t a particularly dramatic moment. The eight women sat around the overflowing table of colored cans and bottles of soft drinks. They has just completed what we call a ‘sorting’ exercise, in which participants arranged soft drink brands in groups based on some organizing principle that they were to develop themselves. I don’t remember how they organized the forty-plus brands that day, but what happened next stuck with me. A petite woman in her late twenties, picked up one of the cans and said to the focus group moderator, ‘I drink eight of these a day. It is always with me, no matter what happens. I was there when my boss gave me my promotion last week. It was at my side two months ago when my cat died. It got me through it. I start and end my day with it. It’s never let me down. I can always count on it. To sum it up, it’s my boyfriend . . . Diet Coke.’”

Wouldn’t we all like to have this kind of loyalty from our customers? They are engaging in a rich, complex, ever-changing relationship, and they’ll stay loyal, resisting marketing gimmicks from competitors and influencing others to try the brand they love.

Halloran reveals what it takes to make consumers fall in love with your brand. Drawing on exclusive, in-depth interviews with managers of some of the world’s most iconic brands, he arms you with an arsenal of classic and emerging marketing tools—such as benefit laddering and word-of-mouth marketing—that make best-in-class brands so successful.

We’ve invited Tim Halloran to join us on April 30th to reveal to us How to Create Strong Relationships with Consumers. This Soundview Live webinar with give you the chance to learn first-hand about these emerging marketing tools, and to ask your most challenging questions. Join us for the sequel and bring your popcorn.

Book Review: Platform

by Michael Hyatt

by Michael Hyatt

Trying to get the message of your company or brand heard in today’s social media environment is equivalent to trying to hear an ant’s footsteps while seated next to a jet turbine. The secret, according to author, blogger and publishing executive Michael Hyatt, is to build the virtual stage from which you address your carefully cultivated following. In Platform: Get Noticed in a Noisy World, Hyatt gives executives a thorough method to connect and build your business.

Hyatt didn’t acquire more than 200,000 Twitter followers without providing a mountain of bankable advice. Platform gives readers the best of the best in a jam-packed read that should sit close at hand on an executive’s desk or digital reader. He begins with the observation that too many social media books overlook: start by creating a great product. Fortunately, Hyatt’s advice about product creation covers everything from how to be compelling to how to create a memorable name.

Once a company has its outstanding product, Hyatt takes readers through the steps to prepare for launch, build a strong strategy, expand your reach and stay actively engaged with your followers. The section on building your home base is can’t-miss reading. In an era when litigators are fielding more and more questions about intellectual property, Hyatt’s tips to protect oneself are well-considered.

Of the utmost importance to executives is Hyatt’s staunchly realistic reminder about how a great platform is built. For any leader who considers platform creation a task that can be farmed out to what Hyatt calls a “babysitter,” he provides the following advice. “Take a long look in the mirror. The person you are looking at is your new chief marketing officer,” he writes. Executives can lead the charge to be heard and Platform is the book to help them do it.

How to Promote Yourself and Your Work

With the proliferation of social media and online marketing, it has become a difficult challenge to make a name for yourself among the millions of people screaming for attention. How do you establish and grow your personal brand above this noise?

Rob Eagar is one of those individuals who has developed a strategy for being heard above the noise. Rob founded his consulting practice, WildFire Marketing, in 2007 and has attracted a diverse range of clients including businesses, non-profits, and bestselling authors. He’s trained over 400 authors and consulted with respected publishing houses, including Zondervan (HarperCollins), Howard (Simon & Schuster), Moody, Barbour, and Harvest House. Plus, he’s worked with well-known non-profits, such as Growing Leaders, Campus Crusade, Proverbs 31 Ministries, and Hearts at Home.

Rob’s background includes over 10 years’ experience as a regional and national sales manager, public speaking for over 10 years to more than 35,000 people at over 180 events, and generating a consistent, six-figure income as a self-publishing entrepreneur from his first book, Dating with Pure Passion. His national media appearances include interviews on the CBS Early Show, CNN Radio, and the Los Angeles Times. He has a degree in marketing from Auburn University.

Rob is especially focused on helping authors, but his principles apply to anyone trying to make a name for themselves. Here’s a taste of what you’ll learn at this webinar:

  • Sell more books by driving readers to your website and retailers.
  • Secure more media interviews and speaking engagements.
  • Connect with key influencers who will spread word of mouth.
  • Create raving fans via social media that buzz about your book.
  • Build an author brand that makes you stand out from the crowd.

If you would like to tap into Rob’s expertise to grow your own brand, then join us on March 20th for our Soundview Live webinar entitled How to Create a Marketing Wildfire. Rob will explain how to use the best promotional methods available to build your brand, sell your products and services, and stand out from the crowd. You will also have the opportunity to ask Rob questions during the webinar.

Building Brand Loyalty

People everywhere describe their relationships with brands of all kinds in deeply personal ways—we hate our banks, love our smartphones, and think the cable company is out to get us. What’s actually going on in our brains when we make these judgments?

Through their original research, customer loyalty expert Chris Malone and social psychologist Susan Fiske found that we relate to companies, brands, and even inanimate products in the same way that we naturally perceive, judge, and behave toward one another.

Early humans developed a kind of genius for making two specific kinds of quick judgments: What are the intentions of other people toward me? And how capable are they of carrying out those intentions? Social psychologists call these two categories of perception warmth and competence, and they drive most of our emotions and behavior toward other people—and in today’s modern world, toward businesses too. As a result, we become devoted to certain companies, brands, even products, but we also have high expectations for loyalty from them in return.

We’ve invited Chris Malone to join us for our Soundview Live webinar on March 11th. Join us for How We Relate to People, Products & Companies to learn:

•             How the social psychology concepts of “warmth” and “competence” apply to the way we perceive and relate to companies and brands.

•             From in-depth analyses of companies such as Hershey’s, Domino’s, Lululemon, Zappos, Amazon, Chobani, Sprint, and more.

•             How and why we make the choices we do.

•             What it takes for companies and brands to earn and keep our loyalty in the digital age.

Make sure to bring your questions for Chris, to post during the webinar for him to answer, and invite the rest of your department or team to join you.

What You Need to Know to Cash In on Your Inspiration

IDEA TO INVENTION

Anyone Can Be an Inventor

One day, Patricia Nolan-Brown was driving in downtown Boston with her young child in a rear-facing car seat in the back seat, as required by law. On arriving home, she complained to her mother about the frustration of not being able to see the child as she was driving to make sure that she was okay. In her book, Idea to Invention, Nolan-Brown describes how she told her mother that “Somebody should invent some kind of a special mirror so you could see your kid in the stupid rear-facing car seat.” To which her mother replied, “Why don’t you invent one?”

Nolan-Brown did just that and transformed that one day of frustration into a lucrative career as an inventor and entrepreneur who would sell millions of her products. In Idea to Invention, she emphasizes that you don’t have to have a business degree from Harvard or trust-fund seed money to invent and sell products. “The first thing you need to know about me is that I’m an ordinary person,” she writes, and her book is clearly designed for readers who are looking for the basic steps for turning their dreams into reality.

What It Takes

Successful people, according to Nolan-Brown, display the following characteristics:

They are inquisitive. “An inventor’s best friend,” she writes, “is curiosity.” They have the nerve. Many people have great ideas but don’t have the self-confidence to make it happen.They have a strong voice. They communicate passion and truth. They have energy. They keep their bodies healthy and their minds sharp.They nourish their dreams. If their passion or commitment begins to fade, they find inspiration and courage in workshops or seminars, biographies and autobiographies, mentors and networking, and a variety of other sources. They are tenacious. They believe in what they are doing and refuse to give up.

Not coincidentally, the first letter of these six success personality traits form the acronym INVENT.

Once Nolan-Brown has explored the six personality traits, she offers readers her six steps to invention.

Think it. It all starts with an idea. Start with what you know; then think outside the box.

Cook it. Is your idea marketable? Will it sell? What does a prototype look like? These are the questions that need to be answered to start moving the idea from just an intellectual concept.

Protect it. Nolan-Brown guides potential entrepreneurs through what they have to do — and they might not have to do — to protect their idea.

Pitch it. Entrepreneurs must know how to generate excitement around their idea, which might involve social media, trade shows and more.

Make it. Should you license the idea and have others put it together, assemble the product, or outsource it to an overseas manufacturer?

Bedazzle it. This is the bells and whistle phase, making sure the product attracts buyers for years to come.

Every chapter in Idea to Invention is filled with concise, practical advice. In the “Make It” chapter, for example, she explains the advantages and disadvantages of licensing. She warns that online submission companies are paid to do what you could probably do just as easily. She explains some of the basics of starting a business, describes the challenge of outsourcing manufacturing, and offers the essential steps for at-home DIY assembly.

Nolan-Brown ends the book with an inspirational chapter called “You Can Make It Happen.” But perhaps the true inspiration is found through the clear and practical information she conveys, which reinforces that anyone can follow in the footsteps of this “ordinary” person.