Fishing in Your Market

Daniel Walker of River’s End Consulting used his experience as an automotive R&D engineer and fishing analogies to explain and illustrate the types and benefits of market research at LA2M on 10-12-11.  He emphasized that good market research involves “asking the right person, the right question in the right way.  


When he consults with businesses, he asks why businesses do what they do and what problems they are trying to solve.  He said he uses an “open minded 4 year old mentality” to listen to companies and their customers.  The 3 types of market research he focused on were number gauge surveys, focus groups and individual interviews. 

He likened gauge surveys to fishing with dynamite.  He explained that the results are often too generic to be helpful.  He noted that gauge surveys can offer large volumes of data, but there are too many opportunities for error or misinterpretation.  


Walker compared focus groups to a small fish taking a worm off a hook but not taking the hook.  He said that focus groups can be hard to facilitate because some participants can dominate the discussion.  Walker said the benefit of using focus groups is that the process can yield good date because it is detailed.  


Walker views fly fishing and individual surveys as having some similarities.  With fly fishing, the person fishing focuses on one fish at a time.  With interviews, the data gathering is one customer at a time.  He noted that the questions should be specific but open ended to yet the most information.

He emphasized that no matter which process a company decides to use, the research must be carefully planned, with questions based on what the company needs to know.  The company doing the research needs to understand each methodology to get applicable and useful results.  He recommended that company research teams be made up of no more than 6 and include both internal and external individuals.  The research team members must be open minded and willing to learn. 

Walker stated that the customer is the best source of information for problem definition.  When companies know and understand customer problems, the solutions become obvious.  Obvious solutions lead to great products.  Great products sell better.  There is less stress, money and time in the development process and fewer failed projects.  He explained that the customer is the expert in the problem and the business can the expert in the solution. 

Walker recommended that businesses find a market research method that is perfect for their needs and then listen to the customer.  He explained that companied don’t exist, people do.  “We take care of human beings.  The more we know the better we serve them.” 

Mobile in the B2B World

David Proegler of Latitude Consulting Group illustrated the explosion in mobile web traffic and explained the current and future impact of mobile on B2B.  Proegler pointed to the I Phone as the device that changed everything for mobile.  


By making the user experience accessible for the average consumer, the I Phone drove the mobile smart device flood and the ensuing tidal wave of mobile web traffic.  According to Proegler, the I Phone created the expectation that access to information should be instant. 

Proegler noted that mobile devices in B2B are pervasive.  Based on research, he stated that over 50% of internet requests are from mobile smart devices.  Proegler used the example of traffic to www.mooreheadstate.edu as an example of the flood of mobile device internet usage.  


In a single year, mobile device traffic to that website increased 4000% and the number of OS increased from 3 to 15.  He explained that it’s not just students that expect full mobile access to information.  In the business setting, employees expect it as well.

Using the automotive sales context as an example Proegler called mobile device use “a new way to engage” for the sales person to be better able to meet the needs of the customer.  With instant access to model stats and inventory, the sales person would be more efficient in delivering information and sales.  He stated that all aspects of a car sales and service operation could benefit from mobile information access.

Proegler explained that there are generally four types of websites when analyzed in regard to mobile interface.  Those are: Mobile Failure, Mobile Focus, Mobile Friendly and Mobile First.  Mobile Failure is too complex for mobile device access.  Mobile Focus supports popular devices in the commonly used areas of a website but not when diving deeper in the site.  Mobile Friendly offers a site wide mobile experience which is optimized as well as concise.  Mobile First is a website designed from the outset with the mobile user in mind.

Proegler suggested that for businesses to migrate their website to a mobile friendly format they need to take some time and analyze their B2B site usage and user base.  A business should also review its application portfolio, work with maturing their site framework and plan their strategic direction for mobile.  He stated that mobile can change the way that business is done both with customers and within a business.

Interrupt The Pattern

Joe Marr of Sandler Training has seen his share of challenges in business over the last decade.  He opened his doors on September 10, 2001 and, as we all have, has seen 10 years of rocky economy ever since.  In his recent LA2M presentation “The Economy is Not for Wimps” Marr gave a snapshot of better thinking and techniques for making sales happen in tough times.

Marr pointed out that most people in sales got there by accident and that regardless of our job, we are all selling.  He described sales as fundamentally a one on one interaction between the sales person and the buyer.  It’s an interaction that few institutions of higher learning include in their curriculum.  It’s also a profession that has a pretty shady image. 

According to Marr, sales people deal with the “battle between their ears”.  That includes the negativity about that line of work and using the economy as an excuse for a lack of sales.  Marr noted that about 77% of human behavior is “programmed” and we are culturally programmed to avoid and distrust sales people.  Marr stated that it’s not that no one is buying, it’s that we need to adapt to get more of the pie.

Marr explained that buyers can prevent sales people from providing important and relevant information by being wary, not explaining their needs and avoiding follow up conversations with sales people.  In turn, sales people under serve themselves and their clients by offering general, unsuitable or incomplete quotes based on a lack of information.  This “free consulting” is one path from the fork Marr describes as “Wimp Junction”.

For sales people to be “good stewards” of their own and the buyer’s business interests, sales people need to utilize a new, consultative system.  According to Marr, sales people need to “interrupt the pattern” with new ground rules.  When the sales person lets the buyer know that it’s “OK to says no” for either party if products and needs don’t match, the client is better able to relax and share pertinent information.

The sales person needs to determine if his products offer the client a compelling reason to change and if the client is willing to make the time and money investment needed to utilize the sales person’s products.  Only if the products meet the buyer’s criteria should a sales person offer a proposal.  The sales person needs to understand what a buyer needs, why they need it and what the consequences of a successful transaction are for client.

In conclusion Marr asked “Are you sucking up with happy ears, hearing only what you want to hear or are you creating mutually healthy relationships” with your clients?  “Interrupt the pattern,” he advised.

Search Engine & Social Media Marketing for Publications

If an author or publisher were looking for an expert in Search Engine & Social Media Marketing for Publications, Kai Blum would be at the top of their list.  With over 10 years experience in search marketing and management, his clients have included some highly recognizable corporate names.  He also has over 5 years experience in search and social based book marketing.  He is a published author of 3 successful books as well.

All of his expertise was apparent in his thorough step by step presentation to LA2M on September 14^th.  He pointed out that online marketing and publishing levels the playing field for new and niche authors in competition with large scale publishers.  


Blum encouraged authors to treat their book project as a business.  According to Blum, authors need to know if there is a demand for their prospective topic, who will want to read the book, if the book will be part of a series and what their marketing budget and strategies will be.

He recommended using the keyword tool in Google AdWords to research interest in the planned book topic.  Blum also suggested looking on Amazon for existing books on that topic.  To improve search position, it’s also important to include keywords in book titles and subtitles.

Blum believes that book marketing is the job of the author and not the publisher.  Publishers tend to focus on their latest publication.  To keep interest going, authors need to take and active hand in promoting their book.  Blum recommends authors begin marketing for their book about a year before publication. 

Some successful strategies he suggested are blogging or creating website content on the book topic, participating in message boards on the topic, creating a Facebook page about the author which deals with the topic.  Blum noted that these should be ways to promote the author’s expertise and not the book.  He explained that people can be turned off by blatant advertising in social media.  

He suggested following and commenting on Facebook pages and blogs on the same topic to build an online relationship.  He also recommended reading reviews of similar books and contacting reviewers directly to offer free copies of the new book for review.  


The same can be done with message board contacts, Facebook fans, blog followers and fellow bloggers.  The cost to the authors is a few books and a time commitment.  An option for paid marketing he suggested was bidding on keyword phrases with Google AdWords.

Blum’s presentation was interesting and comprehensive.  If you missed it and would like to learn more about the wealth of information provided, check out the LA2M Events archive to view the video.

Gossip Marketing

Gossip and marketing don’t seem to be two words that an average business person would put together.  Six time Emmy winner, Shawne Duperon, dispelled that line of thinking with her thought provoking, fun and highly interactive presentation to LA2M on September 7^th.  Based on research, Ms. Duperon explained that only a small portion of gossip in malicious, the rest is free marketing. 

According to Ms. Duperon, business people need to first understand the “message they are giving off” and how people are talking about them to improve and amplify that message.  The more customers appreciate a business person they work with, the more they talk about them.  


Business people need to have a good handle on their strengths and what sets them apart to create their own “celebrity status” and word of mouth.  When communicating with customers it’s important to use high energy words that lend momentum to the gossip. 

The better customers understand the value of the business person and that the business person values the customer, the better the relationship will be.  Ms. Duperon explained this by saying that business relationships are a balance of love and fear.  In her illustration love includes excitement, joy, passion, compassion and kindness.  Fear is everything else.  


She said, “Increase knowledge, lower fear”.  She compared fear to walking through a fart at a shopping mall, “uncomfortable, but you get through it”. 

The second part of the presentation was like quirky networking on steroids.  At Ms. Duperon’s direction, LA2Mers in attendance circulated, presented their own bragging points and listened to others tell theirs.  That was followed by the listeners then relaying the bragging points to others in glowing terms.  The process involved moving around the room multiple times and engaging several people in the exchange of compliments.  


The intent of the exercise was to help participants break down fear barriers and to understand the process of the “cycle of reciprocity” where as each person learned the positive points of the other participants, those were then communicated back and on to others. 

The process was interspersed with Ms. Duperon directing participants to say to each other things like “I like your charisma”, “Give it to me baby” and “I like bossy women”.  If this is hard to imagine, well you just had to be there.  It was a first rate presentation that communicated a clear message on many levels.  It was described by one LA2mer as a “MUST-ATTEND” and it certainly was.

Equations

If Health = Well Being

and Insurance = Financial Protection

then Health Insurance = Well Being + Financial Protection

It all seems so simple, but when it comes to choosing a health insurance plan for you and your family, it can get very complicated.

Here’s another equation for you Economic Downturn = Fewer Employees With Company Supplied Health Plans.  If you are among the many that have lost company supplied health insurance, you probably have a lot questions about coverage for you and your family. 

Let’s look at some basic variables in any health insurance plan.  There are four things that create expense for the insured.  Co-pay + Deductible + Co-Insurance + Premium = Annual Out of Pocket Health Insurance Cost. 

Most health insurance plans include a co-pay, which is the share you pay per designated service.  The deductible is your out of pocket expense for health care services over and above your co-pay up to a specified dollar amount.  So for example, a plan may have a $30 co-pay for a doctor’s office visit, but until your $1,500 deductible is met, you will pay the full cost for any lab work or other services that don’t specifically have a designated co-pay.  Most insurance plans have a maximum designated out of pocket over and above your co-pay and deductible.  This is your co-insurance. 

Generally speaking Higher Deductible + Higher Co-Pay + Higher Co-Insurance = Lower Premium.  The more expense you are willing to cover for your health care, the less the insurance company will likely charge for the premium.  Your premium may also be effected by your over all health status.

If you are considering a high deductible plan, you may want to look at a plan that works with a Health Savings Account.  You deposit HSA money into your designated account before taxes and it can only be used for approved health care costs.  The advantages are that you aren’t liable for taxes on the money you save in your HSA account in a given tax year, you have back up funds for medical expenses and generally speaking your premium will be less.  The money can be held over from year to year.

If you are starting a new health insurance plan, you will need to learn the waiting period for treating preexisting conditions.  Most plans won’t pay for treatment of a preexisting condition for up to one year.  The preexisting waiting period may be waived under certain circumstances if you are transitioning from a group plan.  It’s also important to read your plan exclusions.  If you or a family member has a preexisting condition, you will need to know if the insurance plan will pay for treatment of that condition at any time.  Some conditions are excluded from treatment. 

The initial implementation of the Affordable Care Act has meant that children up to age 26 can be covered under their parent’s health insurance plan and that there is no charge for doctor visits for preventive health care.  More changes are on the way. 

There are several health insurance companies that offer individual and family policies.  Each one has its own characteristics.  With so many things to consider please allow us to assist you in selecting an appropriate plan for you and your family.  

Call 517-423-3400                 

What's In a Name?

We've all heard of a few name changes that make you wonder what they were thinking. Puff Daddy to P'Diddy to who knows what. The logic just doesn't seem clear. We like to think of our name shift as more memorable and descriptive. Here are some examples of famous name transitions that accomplished similar goals.

Back in 1893 a pharmacist named Caleb Bradham invented the original soft drink formula for a product that would become a world wide house hold name. He named it "Brad's Drink" in 1898, but soon it was renamed "Pepsi Cola". It's catchy and tells you exactly what to expect when you crack open an icy cold bottle. Good move Caleb.

Another well known name alteration is that of William Frederick Cody to Buffalo Bill. William Frederick Cody is a distinguished name suitable for a frontier attorney, mayor or newspaper publisher. But Buffalo Bill was none of these. Born in Iowa Territory in 1846, he became a US Army scout, bison hunter and international showman. William Frederick Cody just doesn't have the same ring or stir the imagination the way the name Buffalo Bill does. It's a name people remembered and they knew what it meant to see Buffalo Bill's Wild West Show.

Well, we're not going to quench your thirst or entertain you with an amazing show.  What we have to offer is what our name says.  We are local to Tecumseh and Michigan. We are an agency with ties to many types and brands of insurance. We will help you with all your life, health, disability, annuity and long term care insurance needs. Our financial planning services will still be handled under the name Boulevard Financial.  Our insurance services will be offered through Boulevard Insurance Agency of Tecumseh.  We look forward to assisting you with your insurance and financial planning needs.