The Best of the Monday Morning Marketing Memo

10th Ranked Marketing Book in Amazon Kindle Store.

Our book The Best of the Monday Morning Marketing Memo was ranked as high as #4 marketing book in the Amazon Kindle Store over the weekend. This morning it is #10.

To celebrate this achievement, along with a personal milestone birthday, we are giving away free Kindle versions of The Best of the Monday Marketing Memo today.

For many years, the Monday Morning Marketing Memo was one of the most popular marketing e-newsletters around the world. It was read by business owners, entrepreneurs, senior executives, and marketing practitioners in organizations big and small.

Slightly edited, revised, and updated as needed, the 42 Monday Morning Marketing Memo issues reprinted in this book are the ones that generated the most commentary, queries, discussions, and feedback from readers around the world.

These 42 issues discuss a wide range of diverse topics, including corporate branding, customer retention, marketing strategies, and sales management skills.

The Best of the Monday Morning Marketing Memo will help business executives, entrepreneurs and marketers focus on the key marketing topics that will help you grow your businesses, retain customers, and leverage your corporate brands.

Click on any of the book title links above to be taken directly to the Amazon Kindle store to download your free copy of The Best of the Monday Morning Marketing Memo. Hurry though as these free copies are only available until this evening (Oct 17, 2016). Tomorrow the regular price of $3.88 returns.

In celebration of my birthday weekend we are also giving away three other free Kindle books today, including two more of my most popular marketing books and the #1 leadership book in the Amazon Kindle store:  8 Keys To Becoming A Great Leader (With Leadership Lessons from Gibbs, Yoda and Capt’n Jack Sparrow). Details of these books are in this Keeping Good Customers Blog post. Again this is the last day these books will be free in the Kindle store.

New Leadership Website and Leadership Book

Keys To Becoming A Great Leader

I have longed believed that anyone, at any level of any organization, can become a great leader.

For I believe that great leadership is an art.

It is the art of achieving progress through the involvement and actions of others. This is why great leaders are strong in both leading people and leading for results, while good leaders typically good at leading only one or the other.

As such, I have started turning my focus away from branding and marketing to leadership development. Marketing and branding will always be in my veins. There is no doubt about that. But my focus — particularly my new writing focus — will now be concentrated in the realm of leadership.

As such, I am pleased to share with you my three latest ventures:

Caliente Leadershipa leadership training and development company where our focus is on turning good managers and leaders into truly great leaders, at all levels of an organization. We do this by helping leaders create the right mindset, personal leadership philosophy and the use of the right tools, techniques and leadership behaviors.

All leadership training and development programs from Caliente Leadership (www.CalienteLeadership.com) are designed and tailored for the specific needs of its global clientele. There are no off-the-shelf, one-size-fits-all programs. We also provided train-the-trainer programs incorporating best-practice facilitation techniques and detailed course teaching notes.

New Leadership Bookin my latest book, 8 Keys To Becoming A Great Leader (With Leadership Lessons and Tips From Gibbs, Yoda and Capt’n Jack Sparrow), I use three popular fictional icons from pop culture — Special Agent Leroy Jethro Gibbs from the hit television series NCIS, Jedi Master Yoda from the epic Star Wars film series, and swashbuckling pirate Captain Jack Sparrow from Disney’s Pirates of the Caribbean movies — to demonstrate my 8 Keys to Great Leadership model:

  • Personal Leadership Philosophy
  • Leadership Mindset
  • Core Set of Leadership Behaviors Aligned With Organization’s Culture
  • Leading Teams and People
  • Leading People Development
  • Leading For Results
  • Ensuring Accountability
  • Communicating as a Leader

My purpose in this book is not to suggest that any or all of these three fictional characters make ideal leaders, but rather to use their behaviors and individual leadership platforms as a launching pad for readers to look into and develop their own leadership beliefs, skills and behaviors.

The book is now available on Amazon in both Kindle ($3.98) and paperback ($6.38) formats.

The Art of Great Leadership Blog — I have also started a blog where I will share articles, videos, books, resources, and my own thoughts on leadership. If the topic of leadership interests you, please click this link to subscribe to The Art of Great Leadership Blog.

I will continue to use the Monday Morning Marketing Memo to share my thoughts and resources on marketing, branding and the corporate image. Thank you for continuing to be a reader.

Protecting Your Corporate Brand

Corporate Branding Is More Than Just Logos and PR

Ever since I wrote my first book in 1997, Corporate Image Management: A Marketing Discipline for the 21st Century, I have advocated that “nothing touches the customer more than how he or she perceives your corporate image.”

Corporate image management, or what some writers and researchers refer today as corporate reputation management, remains one of the most important (and yet most overlooked) management and marketing disciples for businesses, organizations, associations, and government entities.

In today’s global market environment, customer trust in organizations, particularly corporations, is at an all-time low as a direct fallout from the never-ending series of widely reported scandals (i.e. WorldCom and CEO Bernie Ebbers, Enron, Martha Stewart, HIH Insurance, OneTel, Tyco, Citicorp’s recent activities in Japan and Europe, Boeing, and Parmalat in Italy).

Corporate image management has always been important, but perhaps never as important as today. As Federal Reserve Chairman Alan Greenspan said in his Commencement Address at Harvard University in 1999, “In today’s world, where ideas are increasingly displacing the physical in the production of economic value, competition for reputation becomes a significant driving force, propelling our economy forward.”

The corporate image is an extremely important corporate asset, one deserving the same attention and commitment by senior management as any other vital issue. The key to managing this asset is to fully understand that your stakeholders’ perceptions embody your corporate image.

Unfortunately for every organization, these stakeholder perceptions are no longer (and I doubt if they truly ever were) formed solely through experiences with your products and services.

For instance, a multiyear study by Cone Inc., a marketing and communications firm based in Boston, reveals that American customers are now increasingly taking into consideration the reputation and track record of social responsibility of the companies they will keep in their spending circle. Eighty percent reportedly said corporate support of a cause is a key factor in whether or not they trust a particular firm, an increase of 21 percent from the previous year.

According to Carol Cone, CEO of Cone, “This study, a series of research spanning over a decade, shows that in today’s climate, more than ever before, companies must get involved with social issues in order to protect and enhance their reputations.

Supporting a cause can improve a company’s status with customers. Companies that are caught or reported behaving unethically or illegally can also expect to receive some clearly defined customer responses. In such cases, according to the Cone research:

  • 90 percent said they would consider switching to another company’s product or service.
  • 81 percent said they would speak out against the company to family and friends.
  • 80 percent would consider selling any stock holdings in the company.
  • 80 percent would refuse to invest in the company.
  • 75 percent would refuse to work for that company.
  • 73 percent said they would boycott that company’s goods or services.
  • 67 percent said they would be less loyal in their job at that company.

On the other hand, positive corporate activity in social and community issues can have an immediate positive impact on corporate brand images. GMIPoll conducted a survey with 20,000 consumers in 20 countries one week after the South Asian Tsunami, measuring their opinions on American multinational brands, corporate tsunami relief efforts, and U.S. foreign policy. A remarkable 59% of these consumers reported that their impressions of corporate brands improved as a result of the tsunami relief efforts from U.S.-based multinational corporations.

For example, Coca-Cola provided bottled drinking water, basic foodstuffs, and medical supplies to tsunami victims; Starbucks made an initial contribution of $100,000 to international relief organizations CARE and Oxfam UK, plus donated $2 per pound of Sumatra coffee sold during January; and the Bill & Melinda Gates Foundation pledged an initial $3 million to nongovernmental organizations to aid tsunami relief efforts.

The GMIPoll results indicated that as a result of Coke’s contributions, 61% of consumers reported an improved image of Coca-Cola. Starbuck’s tsunami relief pledge resulted in 51% of respondents expressing an improved image of Starbucks. The Bill and Melinda Gates donation resulted in 50% of respondents reporting an improved image of Microsoft.

Furthermore, 46% of all consumers indicated that they will purchase more products from the companies that provided tsunami relief. For example, 39% indicated they would consider purchasing more Coca-Cola products in the future; 32% indicated they would buy more at Starbucks; and 37% indicated a greater willingness to buy Microsoft products.

Positive brand sentiment gained from tsunami relief efforts stands in stark contrast to images heavily influenced by U.S. foreign policy. The GMIPoll found that one in five international consumers consciously avoids purchasing American brands as a way of displaying their discontent over recent American foreign policies and military action (the three countries with the highest percentage of consumers who indicate an intention to boycott iconic American brands are South Korea 45%, Greece 40% and France 25%).

Softening the blow however, 56% of those who indicated that they consider boycotting American brands also reported that their judgment of those corporations that had donated to the tsunami relief effort had improved; similarly, 48% stated that they would consider purchasing products in the future from those brands that had provided tsunami aid. Clearly, there are powerful international cross currents influencing global consumers’ views of American iconic brands.

Corporate branding is more than just positive media coverage, good financial results, and increased market share. And it is certainly more than just donating money, products, or services when natural disasters strike.

Properly managed, your corporate brand should discourage unethical behavior throughout the organization, reduce staff turnover, reduce customer churn and attrition, and minimize negative media coverage. This will happen only when management sees the corporate image as a management discipline, and not just a marketing tool, a graphic design project, or a public relations exercise.

The essential role that corporate image now performs is also a result of major shifts in the field of marketing combined with more knowledgeable and interested customers. The corporate brand image is much more than a name or logo. Your corporate brand reflects your way of doing business, a key component of reputation and identity.

The strongest corporate brands tend to be the ones with the most consistent and clearest messages. These brands create expectations and anticipations in the minds of both consumers who buy, use, or recommend the brands and the employees who deliver upon these inherent promises.

Every organization has a corporate image, whether it wants one or not.

When properly designed and managed, the corporate image will accurately reflect the organization’s commitment to quality, excellence, and its relationships with its various constituents: such as current and potential customers, employees and future staff, competitors, partners, governing bodies, and the general public.

Also, when properly managed and communicated, the corporate image will create an internal culture that is more likely to protect the brand and reputation of the organization.

In a sense, this is complete circle of corporate brand protection. A properly managed corporate image creates a culture that protects the brand and reputation, which therefore reinforces and strengthens the management of the corporate image.

This makes the management of your corporate image one of the most potent marketing and management tools available for your senior executives to use in ensuring the viable execution of your corporate vision, as well as ensuring the protection of this most vital corporate asset.

 

KEY POINT: nothing touches the customer more than how he or she perceives your corporate image.

TAKING ACTION: who is in charge of your corporate image? If the answer is not “everyone in the organization,” then take time to reflect on why not.

When was the last time your senior management team reviewed and discussed your corporate image? How soon can this subject be added to the next senior management meeting agenda?

Survey the top 20% of your customers on their perceptions of your corporate image. Survey 100% of your employees asking the same questions. Compare the results.

This article is excerpted from our book The Best of the Monday Morning Marketing Memo, available in paperback and Kindle formats at Amazon.

Marketing Words of Wisdom on Customer Retention

Keeping Good Customers

The world in which marketing takes place has changed, and continues to change at a rapid pace.

Customers, customer needs, and the motivations for making purchasing decisions are also changing. Often at an equally rapid pace.

Plus, the natural loyalty of customers is becoming a thing of the past, not just because customers have become more fickle but also because a large majority of organizations do not exhibit tendencies that deserve customer loyalty.

Here are three pieces of advice from our new book Marketing Words of Wisdom that I regularly give to clients on how to build customer loyalty and keep good customers:

Rational marketing ignores half a customer’s brain.

Customers buy for both rational and emotional reasons. Persuade by reason, motivate through emotion.

This is the Yin and Yang of marketing.

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The secret to Customer Retention Marketing is TLC (think like customers).

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A person or business is not your customer until the second time they buy. The first time they purchase they are merely a trial user.

 These are three steps that any business — particularly smaller businesses and start-ups — can put to immediate use to build a loyal customer base and convert trial users into good customers.

For more of my thoughts on how to use marketing as a business driver, Marketing Words of Wisdom is available at Amazon in both paperback ($5.88) and Kindle ($2.99) formats

Note: Marketing Words of Wisdom will be specially priced at just $0.99 in Kindle on July 28 – August 1.

Marketing Words of Wisdom

Marketing is not rocket science.

In fact, marketing is more art than science, though there are some scientific and measurable aspects to marketing. But what to measure?

Here are three quotations from our new book Marketing Words of Wisdom containing advice I regularly give to clients on what to measure and how to differentiation advertising from branding:

 

There is a misplaced focus on marketing metrics today.

The number one thing to measure is your customers’ propensity to repeat their business with you.

Secondly, measure how likely are they to bring to you new customers or to refer potential customers, colleagues, and friends to you.

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A competitive advantage is what you do different from and/or better than your competition.

It is the service, product, brand identification, guarantee, or anything else that motivates the customer to give you his or her money because price is no longer the main issue or the deciding point of differentiation.

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An advertising campaign should be timely. A branding campaign should be timeless.

 

Now I realize that this is not how many of the big agency firms approach these topics. But my focus is more on helping non-marketers, business owners, and entrepreneurs get a firmer grasp on how to build their businesses and retain good customers.

For more of my thoughts, Marketing Words of Wisdom is available at Amazon for just $5.88 in paperback and $2.99 in Kindle.