Tuesday, February 21, 2017

What You Need to Know About Facebook's New Mix Modeling Portal

We've written extensively in the past about how when it comes to digital and print marketing, you're not looking at an either/or proposition. Often, businesses of all sizes are finding great success embracing the best of both worlds - reaching out to the customers who are most receptive to print channels via traditional methods and using digital resources when they're most appropriate. We've even written about how you can take the lessons learned online and use them to make your print strategies even stronger.



We're not the only people who share this opinion; it would seem. Facebook has recently launched a mixed marketing portal designed to make it easier than ever for businesses to compare Facebook-based advertisements to television, print, and other types of collateral. While this does mean big things for people using Facebook as an advertising platform, what it means for print marketers is even more interesting.



What Facebook is Doing



The social networking giant's mix modeling portal for marketers is a significant extension of an existing partnership. Over the course of the past few years, Facebook has teamed with Nielsen (the people who tell you how many people watch the Super Bowl each year, among other things), comScore (the people who focus on digital, TV and movie analytics), DoubleVerify (a company that aims to "authenticate the quality of each digital media impression"), and others. This has all been done to provide clear metrics on how far a Facebook ad reaches, how many impressions it gets, its ultimate performance, and more.



For advertisers that rely heavily on Facebook, this means that they now have access to twenty-four different third party measurement partners to track the performance of their ads around the world, see how their ads are comparing against similar ads running in the world of print and more.



For print-based marketers, this also thankfully means that the reverse is true, too.



What This Means For You



Even if you don't heavily advertise on Facebook, this new model is still something to pay close attention to because of the metrics at play. It's another example of the ever-important concept of "pay attention to what is working online and use it to strengthen the foundation of your print campaigns." Thanks to Facebook, this just got a whole lot easier.



By giving advertisers the ability to compare a successful Facebook ad to other elements of their campaign like print, people who DO happen to be heavy print advertisers can essentially come in from the opposite angle and learn just as much. It's all a matter of perspective - the marketing mix modeling portal can be used to look at one of your successful print ads, compare it to ads that are running on Facebook and use that actionable information to feed back into the print campaign to help achieve your desired outcomes.



Print and digital advertising have historically been measured in very different ways, but thanks to Facebook we just took a big leap closer to a uniform standard that can be used in both situations. You can use the Facebook MMM Portal to see how impressions reach and other metrics translate into the real world and back again.


Tuesday, February 14, 2017

Why You Can Never Nurture Your Leads TOO Much

If you think that you can comfortably stop nurturing your leads as soon as they make that ever-important sale, you're only seeing one small part of a much larger and more important picture. The fact of the matter is that you can NEVER nurture your leads too much for a variety of important reasons.

Why Lead Nurturing is So Important

Lead nurturing is an essential part of any business, but judging by some recent studies, it may be more important than you think. According to Gleanster Research, as many as half of all the leads coming into your business may be qualified, but they're not yet ready to buy. Nurturing is perhaps the single best way to make sure you're able to convert as much of that 50% as possible into a sale.

To make things more interesting, research from InsideSales.com shows that between 35% and 50% of all sales go to a brand that responds to a customer FIRST. This means that even if you know you're working with a qualified lead AND you know that they'll eventually be ready to buy, they may not buy with YOU at all if you don't have a timely presence in their life.

That, in a nutshell, is why lead nurturing is so mission critical to your organization. If you're not nurturing properly and using timely marketing collateral to help usher someone down the sales funnel, you may be doing little more than perfectly setting someone up to make a purchase with one of your competitors.

NSN: "Never Stop Nurturing"

Consumers want to be loyal to a brand. However, they're also loyal to themselves and their own situations first and foremost. If you think that just because you've ushered a lead down the sales funnel and convinced them to make a purchase that you'll have them forever, you're sadly mistaken. And, unfortunately, this is one mistake that you're likely to pay dearly for.

Remember that "making a sale" is NOT the only benefit of consistent lead nurturing. According to research, leads that have been nurtured experience a 23% shorter sales cycle than those who have not been. Nurturing over time (as opposed to just in the beginning of your relationship) can even increase your revenue over the next six to nine months by as much as 10% or more.

Remember that a constant and consistent nurturing gives way to perhaps the biggest benefit of all: retention. According to one study, it costs 500% more to bring in a new customer than it does to keep a current one. Likewise, the cost of bringing a new customer up to the same level of profitability as one of your old ones is up to 16% more. All of this is to say that by adopting the mantra of "I can never nurture a lead too much" today, you could be saving yourself a tremendous amount of money tomorrow.

Nurturing a lead to the point where you've made a sale is important, but this is not the point where your story ends. Consistently nurturing your leads even AFTER a sale will continue to pay dividends over the lifetime of your relationship with that person. The benefits of retention versus bringing in new customers alone should be more than worth the effort you'll need to make.

Friday, February 10, 2017

How to Combine Your Passion and Profession to Make Your Life Purposeful

You have likely heard the adage, "Choose a profession you love, and you'll never work a day in your life." Although the thought of this has merit, sometimes, if a person's passion isn't something they can easily transform into a money-making endeavor, it can be a little unrealistic. Thankfully, there is more than one way to combine your passion with your profession to create a purposeful life.

Use Your Passion to Generate Income

We all seem to know at least one person who bought a professional camera and began making money by becoming a photographer. Their profession, of course, was combined with their passion for photography and is now generating income. Another good example of this is someone whose passion is music. They have many options when it comes to transforming that into a career. They can become a music teacher at a school, play an instrument in their local orchestra, give private lessons, or even play at places of worship, parties or weddings as a way to produce an income. These are just a few examples of passions perfectly suited for generating income. There are countless others, and we can all agree that "it's a beautiful thing when a career and passion come together." If you have a passion like this, congrats! Unfortunately, not all passions are equally conducive when it comes to generating income. There isn't an obvious way to create a career out of every passion.

What to Do When Your Passion Doesn't Easily Translate to a Profession

Let's consider an example of a passion that would be less than ideal as a career. This could include being passionate about running, biking, or being focused on giving to the homeless, third world countries, or charities. Often, these are hobbies/passions that are practiced alongside a career and don't ever become the career itself. Of course, there are some ways to use these passions to generate income. However, it's not easy to make money working for a charity or by giving to the homeless. It's also hard to get someone to pay you to cycle or run. That doesn't mean you aren't allowed to live out your passion, though. You just might have to get creative with how you go about doing it.

Companies That Have Successfully Combined Their Passion & Profession:

An excellent example of this principle in action is the TOMS Company, which has been in business for going on eleven years. The concept they came up with was revolutionary at the time. When they began, TOMS was virtually the only company doing something like this. (There are more now.) TOMS started by selling shoes and advertising a one-for-one system. Their customers bought a pair of shoes from them, and then TOMS donated a pair to a needy child. Therefore, every customer got to get in on the giving action. Customers loved the product but liked the fact that their purchase helped a child in need even more. Today, TOMS has branched out to sell coffee, bags, and eyewear along with their shoes. As of January 2016, TOMS has given away more than 60 million pairs of shoes. TOMS is an excellent example of how you can combine your passion, in this case, helping children in need, with a profession that began selling shoes in a unique way.

How to Get Started

TOMS showcases an ideal strategy to combine your passion and profession. Of course, you don't have to sell shoes to give back. You can also use the assets you acquire through doing business to give back. The idea isn't to get this perfect. It's to attempt to combine your passion with your profession in some way so that you will live purposefully. Remember, starting somewhere will get you where you want to go quicker than sitting still!

Tuesday, January 31, 2017

Three Brothers and Success

In a town with lots of industries and choices of careers, three brothers grew up and began to pursue their paths in work. Based on their father's wisdom and teachings, they all decided they wanted to work in a field that would eventually let them start their own businesses. The oldest became a lawyer. The middle brother became an accountant. The youngest brother, however, didn't want to be an office professional but, instead, enjoyed food, so he became a cook. All three left home, set off to pursue their goals, and wished each other the best.

The Lawyer and the Accountant

The years passed and the lawyer made a lot of money, but he was always miserable and in debt. Everything about his job was about fighting or arguing, and eventually, he lost his own marriage. The lawyer was regularly complaining about his work whenever asked. The middle brother found himself living a life of stress. He chose to be an accountant because he thought it was a safe career path for income, but he found himself always under extreme pressure to complete his work and make sure it was accurate. The stress became so intense the younger brother was regularly sick and became a prime candidate for serious health problems before he was middle-aged.

The Cook

The younger brother focused on what he wanted, learning how to be a cook. Every day in the kitchen was where he wanted to be, so it never felt like work. His enjoyment quickly increased his skills in cooking, and soon he became a head chef. He was doing so well he chose to open up his own restaurant. It wasn't the biggest place, and it wasn't the most expensive. However, the youngest brother loved his job, and that made a difference in his food, his staff, and the experience of his customers.

Which Brother Had the Right Idea?

Essentially, the best place to be as a business or business leader is to love what you do every day. If you're not happy in your work, your market position or your role, you will never be able to manifest your full potential. Happiness and satisfaction are key elements of success, especially for business leadership who look for someone to follow and emulate in their own tasks. Sure, your business can have some immediate success, as in the case of the lawyer brother, but ultimately, the angst and frustration catches up with everything and becomes a psychological burden in the workplace. Don't be that older brother. Find your love and make it come to your career and your path. You will be happier, your productivity will be higher, and staff will follow your lead.

Friday, January 27, 2017

Making Sense of Paper Coating: How it Affects Your Efforts and What You Need to Know

A lot has been written about the effectiveness of print marketing versus digital marketing - so much so, that we're not going to get into it here. It's safe to say that both have their fair share of advantages and when used effectively, can compliment one another very nicely. There is one major benefit that print marketers have that their digital brethren don't share - the paper itself.

People like to feel something in their fingers when they read it or consume it. One of the biggest contributors of that phenomenon is paper coating. Knowing how it affects what you're trying to accomplish is one of the keys to making the best possible paper decisions moving forward.

The Role of Coating in Marketing

We've already covered paper stock, along with how that stock affects someone's initial impression of a piece of marketing collateral. Making an effort to select the right type of stock can have a significant affect on the way someone experiences your marketing materials for the first time. Another contributing factor, however, is the coating - or the lack thereof.

When paper is coated, it's treated with a compound or polymer to make sure that the finished product has certain qualities that weren't initially present. Paper can be used to give your flyer a subtle sheen or surface gloss, for example, or it can even take a thinner piece of paper and make it feel thicker in someone's hands. It can be used to make a rougher piece of paper feel smooth, or even reduce the way that ink is absorbed when someone runs their fingers across it.

The coating is introduced onto paper stock using an offset press through a process that varies depending on exactly what type of coating you're talking about. Semi-gloss coating, for example, is often called "UV" coating because the paper itself is coated with a high gloss under intense UV lights.

The Many Types of Coatings to Choose From

Just as was true with paper stock, you have a broad range of different options available to you when it comes to coatings depending on what you're trying to accomplish. These include, but are certainly not limited to, ones like:

Matte Paper.
If the coating on paper was like the paint in your home, think of matte like a flat paint. It produces a high-quality result, but the coating itself does little to help those colors pop in the way you might need it to.

Glossy Paper.
To continue with the "house paint" analogy, glossy paper would be like semi-gloss paint. It introduces a beautiful sheen into the finished product, but it isn't necessarily super shiny like a mirror.

Coated paper.
If you've ever seen a piece of paper that was very, very shiny, you were looking at a piece of coated paper. This is commonly referred to as C2S paper, which is short for "coated (on) 2 sides."

In the end, paper coating requires you to add a new dimension to your thinking concerning your print marketing collateral. You can't just think about the impression you make when someone sees your next flyer or brochure - you need to think about the impression you give off when they feel it, too. Do you want something super shiny, or would something with a more traditional sheen do? The answer, as always, will depend on exactly what it is you're trying to accomplish.

Tuesday, January 24, 2017

New Year's Resolutions for Your Small Business

It is a tradition of sorts to make resolutions for the New Year, such as losing weight or eating healthier. Some people also include resolutions that impact their family's future, such as resolving to plan two family vacations this year. However, most resolutions are quickly forgotten as people fall into their habitual way of living. A better solution is to plan goals for the year and break them down into smaller, easy-to-accomplish steps. Similar to planning personal resolutions, you can also make resolutions for your small business. By looking back at the year behind you and analyzing your company's performance, you can resolve to alter your results this year by changing your behavior.

What is the Difference between Resolutions and Goals?

A resolution is a promise to take action. It is easy to break a resolution because there is nothing except for willpower holding you to that action. A goal is a specific, measurable finish line that you aim to reach by a specific point in time. The biggest difference between a resolution and a goal is the exactness or the ability to measure your results. It is possible that your resolution for this year is to lose 10 pounds. If you are a planner, you might take the time to figure out how you will do that. Perhaps you will visit the gym each day and cut out sweets from your diet. If you stick to your resolution, you will reach your goal. However, the minute you stop the change in your behavior, it's very likely you'll be saying hello again to that 10 pounds on your hips.

Planning a goal takes more than making a promise to yourself. Instead, planning a goal requires that you set a goal that you can realistically achieve, and then set out the steps to get you there. Once the journey begins, success is more likely if you remind yourself of your goals regularly, reward yourself as you achieve milestones, and measure your results to make changes to your plan along the way.

Collaborating with Your Team

Unless your business has only one employee, yourself, it is a good idea to sit down with your team and ask them to contribute toward making goals for this year. Many companies create three-to-five year goals and then break them down into specifics when each year arrives. Since your team will be the people in the trenches who are taking action to reach the goal, inviting them to collaborate with you on the plan will give them a reason to become more invested in the outcome.

Why is January a Good Time to Make Plans?

Not all companies start their fiscal year in January. If your fiscal year begins in a different month of the year, then start your plans then. For those who follow the calendar year, January planning will focus all of your team on where you want to go. It will drive them to work harder and achieve more as long as you continue to refocus them towards the goal throughout the year.

Don't forget to reward yourself and your staff for incremental achievements. People need incentives and reminders to keep moving forward and improve behaviors. Work on creating good habits that make goals achievable and coach those who struggle with them. Remember everyone has something unique to contribute and learns differently. Ask your team what they need to succeed.

Friday, January 20, 2017

The Amazing Power of Peer Pressure in Groups

When Stanley's daughter was about five and a half, it was time for her to pick out her first bike. No surprise, she wanted something with bold colors and controls. The typical child bicycle for girls was frequently some kind of flowery motif, a princess bike, or a fairy theme. However, when Stanley brought his daughter to the store, he made a point to tell her she could pick any bike in the store for her size. And she chose a bold, fire-engine red Transformers bike for her favorite TV robot heroes. Stanley wasn't sure about the pick and asked her again if his daughter was sure. She looked around and within ten seconds was done; it would be the Transformers bike without question. So, that's the bike she got.

A month later Stanley's daughter went with her sister to the local park. They were back within minutes, and the younger one was crying. Stanley asked them what happened and, between sobs and hiccuping, his younger daughter blurted out she had been picked on for riding a boy's bike. The culprit was other neighborhood kids, particularly girls. Stanley's daughter rolled her Transformer's bike into the garage, laid it down, and ran inside sobbing. That was the last time she ever rode that bike again. Stanley tried to see if she would ride it again a month later, but no luck. The bike ended up going to charity.

Every day at work people face decisions that they must then put in front of others, their peers. Like Stanley's daughter, they will meet people who will criticize and oppose actions or directions chosen. Sometimes it's for technical reasons and sometimes they do it just to be a pain. However, those peer pressure decisions can be immense depending where one is in their career. If starting out, and the opinion comes from more experienced peers, the pressure can have a huge effect on how people try to fit in, even causing anxiety in some folks. Everybody at some point wants to be accepted, and at work, it can be a fundamental requirement to gel with the "team."

How one deals with peer pressure and compensates for it will dictate how capable of a decision-maker he or she can be. While it would be easy to assume things are top-down, dictatorial, in reality, our decision-making is often an interactive, communal function, so influence matters tremendously. Realizing this and learning how to control the pressure separates good decision-makers from those who can only operate in a vacuum. Controlling it versus being controlled means one rides their "bike" instead of losing it under pressure.

People are fundamentally social creatures, so those who want to be decision-makers need to understand how to use social influence to their advantage, not disadvantage. The last place a decision-maker wants to be is being second guessed or shamed in public when pushing a proposal. Part of effective leadership is knowing how to influence ahead of time and build decision support before the decision actually has to be made. Some call it being "political," but realistically, effective leadership involves performance with a team, not against it.