Once a Day Marketing: November 2015

Monday, November 30, 2015

A Quick Look at Pricing Strategies (Strategy)

Hello, I’m Marianne Tenenbaum, Branding Strategist, for Once a Day Marketing™. Today we are discussing pricing and how it is evolving in the marketplace.

Two recent stories in the New York Times and on CNBC covered a lively mix of pricing strategies being used by major businesses.

The NY Times article shared details of Joe’s Crab Shack testing a no-tipping pricing model which will include an increase in menu prices to enable the restaurant to pay its servers more money per hour. Overall, Joe’s Crab Shack believes this will be benefit employees through increased financial security and improved team atmosphere while reducing turnover for the company. Customer will no longer have to do the math, however, it is yet to be seen how they will respond to increased menu prices and no longer being able to express their opinion of the service via the tipping process.

CNBC focused on users of dynamic pricing models such as Uber and AirBNB who raise prices in response to high demand. Disney is considering a pricing scheme where they would increase costs on high-demand days and lower it on slower days hoping to move traffic to days that currently have more capacity.

Ski resorts are applying dynamic pricing with a different twist. They offer discounts for lift tickets purchased in advance with that discount declining as the opening of the ski season draws near. Golf courses are using a similar approach to fill tee times and level demand. These are good examples of where consumers can benefit from a dynamic pricing strategy.

As technology advances, parking meters, professional football and video games are all using some form of dynamic pricing. Take a look at your own business. Determine how you can leverage a pricing strategy to achieve a result such as leveling demand, driving traffic or increasing employee/customer satisfaction.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers. Visit our website at www.onceadaymarketing.com. Contact Marianne Tenenbaum at (505) 699-7849 or email mten@onceadaymarketing.com. Listen to Ask Those Branding Guys™ every Monday at 11:00am (MDT) streaming live on SantaFe.com KVSF 101.5 FM.

Wednesday, November 25, 2015

Branding Carlsbad New Mexico (Strategy)

Listen to our featured Ask Those Branding Guys™ radio show podcast: Branding Carlsbad New Mexico

Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing™. On our radio show Ask Those Branding Guys™, we discussed branding and marketing with a New Mexico Chamber of Commerce.

Joining us on the show was Lisa Boeke, Director at the Carlsbad Chamber of Commerce. Carlsbad and Southeastern New Mexico are home to Carlsbad Caverns National Park and nearby Guadalupe Mountains National Parks as well as State Parks, Museums and unique wildlife.

Carlsbad was one of the one of the first areas to launch advertising under the New Mexico True campaign and aligns their marketing to the over-arching New Mexico truism of adventure steeped in culture. Southeastern New Mexico’s unique True attributes include being located in an area formed millions of years ago, the Caverns, Pecos River and Guadalupe Mountains.

Southeastern New Mexico is a drive market. Under True, the region targets advertising campaigns that appeal to military market segment as well as San Antonio and Dallas markets.

Carlsbad has a signature event called Christmas on the Pecos. In its 24^th year, the event features pontoon boat river tours of approximately 100 homes that are decorated for the holiday season. The event is supported by the residents and businesses through volunteerism and an adopt-a-home program to ensure a great experience for visitors.

Carlsbad has faced challenges in community branding due to the proliferation of oil and gas industry activity. While the boom has brought more money to the community; business visitors utilize capacity that would ordinarily be accessed by tourists, driving up hotel prices. New hotels are opening in Carlsbad and the inventory of available rooms is growing. Restaurants and recreational activities are also expanding providing more to do for residents and visitors alike.

Lisa’s branding tip: work with a good advertising firm to obtain professional, unbiased advice. Make sure you do your research and chose an agency that knows your area.

Enjoy the podcast.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers. Visit our website at www.onceadaymarketing.com. Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com. Listen to Ask Those Branding Guys™ every Monday at 11:00am (MT) streaming live on SantaFe.com KVSF 101.5 FM.

Monday, November 23, 2015

Understanding Product Life Cycle (Knowledge)

Once a Day Marketing™ featured video blog: Product Life Cycle

Hello, I’m Jim Glover, That Branding Guy for Once a Day Marketing™. Today we are discussing the classic product life cycle and how that impacts your marketing.

Products evolve a lot like people. They are born, grow, mature, age and then pass on. There are four stages to the classic product life cycle: introduction, growth, maturity and decline.

Introduction is when an idea is transformed into a product that is introduced into the market place. Production and marketing costs are initially high and profits may be low at the outset.

Next is growth. Sales are climbing, consumers are adopting the product and the company is beginning to make a profit.

In the Maturity phase the product is established in the market place. Sales are still climbing but profits are declining because competitors have now entered the market. Other companies latch on to the original product and emulate it, resulting in reduced market share. In this phase, before the product slides into decline, marketers have to consider how they are going to remarket this product.

During the Decline stage, when sales and profits are falling off, a business has to evaluate whether they want to reinvent the product or retire it and bring a new innovation into the market place.

You can alter your marketing strategy anywhere during the stages based on the marketing mix that is required at that time. At introduction perhaps you employ more promotion strategies and later on move into leveraging pricing strategies.

Remember that the life cycle is different for every product. Some may see sales rise rapidly and then decline while others may take longer. You have to be the expert in analyzing your own product life cycle to determine the marketing strategies that are the best fit for your product.

Thursday, November 19, 2015

Branding a Non-Profit Organization (Strategy)

Listen to our featured Ask Those Branding Guys™ radio show podcast: Non-Profit United South Broadway

Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing™. On our radio show Ask Those Branding Guys™, we discussed branding and marketing with a non-profit organization.

Joining us on the show was Deb Norman, Director of Outreach for United South Broadway Corporation. USBC is a non-profit community development corporation founded in 1986. Their mission is to revitalize historic neighborhoods in Albuquerque and increase the availability of safe, decent and affordable housing for low and moderate income home buyers.

USBC’s focus is on clients who are behind on their mortgage payments or whose home is in foreclosure. Certified counselors assist individuals in working with their lender to lower payments or respond to the foreclosure process. USBS’s goal is to enable people to stay in their homes whenever possible.

United South Broadway Corporation’s unique difference is offering face to face, one-on-one assistance. Clients meet in person with counselors who explain services and the mortgage / foreclosure process. Personal interaction enables counselors to readily determine how best to help a client. Housing counseling services are provided free of charge.

USBC’s challenge is to raise awareness of their organization with a wider audience. Glover suggested that perhaps USBC could find a funder who would provide resources to support marketing to keep UDBC top of mind when individuals find themselves in a situation with a mortgage challenge.

Deb’s tips for other non-profits: Stay mission focused and don’t underestimate the value of personal out reach. Glover reminded listeners that when doing outreach and appearing in public make sure you are standing and greeting people – don’t site behind the table!

Enjoy the podcast.

Monday, November 16, 2015

Branding with Fast Company Co-Founder Alan Webber (Strategy)

Listen to our featured Ask Those Branding Guys™ radio show podcast: Fast Company Co-Founder Alan Webber

Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing™. On our radio show Ask Those Branding Guys™, we discussed branding and marketing with the co-founder of a dynamic business publication.

Joining us on the show was Alan Webber, entrepreneur, author and founder of One New Mexico. Webber’s accomplishments include Managing Editor of the Harvard Business Review and Co-Founder/Manager of award-winning Fast Company magazine among many.

The idea for Fast Company was born out of Webber’s recognition of four fundamental changes taking place: globalization, digital technology, a new generation coming of age and diversity. He envisioned the magazine as a cross between Harvard Business Review and Rolling Stone. The positioning for Fast Company was hip for a changing world, innovative, creative and driven by the four fundamental shifts.

To differentiate Fast Company from Fortune, Businessweek and Forbes, a very different look and feel was created. The text-only cover of the first issue displayed the four propositions Fast Company believed in which set the tone for the future branding of the magazine.

Alan has authored numerous books including Rules ofThumb -52 Truths for Winning at Business Without Losing Yourself. The book is based on lessons learned throughout his career and shares the rule and what it means. Rule #4: Don’t implement solutions, prevent problems; this is a great mindset for business owners to use when considering their brand and customer service.

Webber’s tip for individuals building their brand: Remember that you are a brand. Reflect on your unique qualities, offering and how you add value. Glover reminded listeners that if you are not happy with your brand you can change it over time through branding efforts.

Enjoy the podcast.

Boost Your Brand With Online Retail (Strategy)

Hello, I’m Marianne Tenenbaum, Branding Strategist, for Once a Day Marketing™. Today we are discussing online retail (or e-tailing) best practices. It may be a strategy you should consider for your brand.

Having online retail capability on your website is another great way to engage customers with your brand. E-tailing enables local or regional businesses to tap into a market of loyal customers who don’t live in the area.

Today, technology allows any size business to create an online retail presence at a much lower cost than in the past. The two most important aspects of e-tailing are driving traffic to your website and providing an outstanding customer experience (#CX). Integral to the customer experience is a process that is clear and easy to navigate.

To get started with online retail, research the options that are available for a low monthly cost or with minimal development. Feature items in your online shop that reflect the spirit of your brand, start small and expand as you gain experience.

Beyond basic website attributes, using a live chat feature will enhance customer experience by providing on-the-spot answers to product questions that may be barriers to closing the sale.

Once the infrastructure is in place, visit other sites that provide a good customer experience to assist you in identifying best practices and components that you would like to include in your own process. Offering free return shipping may drive more sales but has an associated cost; ensure practices that you select align with your business model from a cost perspective.

Once your e-tailing site is in place, promote your new online store using both traditional and social media marketing campaigns to drive traffic to your site.

Tuesday, November 3, 2015

Brand Differentiation for an Insurance Agency (Strategy)

Listen to our featured Ask Those Branding Guys™ radio show podcast: Branding Quezada Jacobs Family Insurance

Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing™. On our radio show Ask Those Branding Guys™, we discussed branding and marketing of a national insurance agency at the local level.

Joining us on the show was Ned Jacobs, principal at the Quezada-Jacobs Family Insurance an Allstate affiliate. The agency differentiates through extensive engagement with the community and is focused on giving back and aligning with causes that are important to them. Ned participates in the Friday Networking Lunch and sponsors speakers that will provide benefits to all of the members.

Over the past 10 years the insurance industry has undergone major changes due to the internet; it has become much more of a commodity. Ned thinks of his agency as a place where customers can obtain advice and have an expert assess their needs.

Quezada-Jacobs Family Insurance agency is part of the Allstate brand. The national company provides grants to local agencies that enable them to financially contribute and do more for the area they serve. This ties in nicely with the Quezada-Jacobs Family Insurance cause marketing. The local agency has a Facebook page and shares photos of the smiles they generate through their community activities.

Ned serves on the board of organizations he believes in. This reflects on the brand of his insurance agency and adds credibility that he is sincere in giving back to the community. Ned knows that gaining trust and delivering on his brand promise are essential to being successful in attracting and retaining customers.

One of the branding hurdles that Ned faces is the amount of information that is available in the marketplace. His tip is to stick with your branding efforts and be consistent.

Enjoy the podcast.

Monday, November 2, 2015

Understanding Customer Loyalty (Knowledge)

Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing™. Today we are sharing our model to categorize the loyalty of your customers.

There are numerous, very technical ways to zero in on the buying behavior and characteristics of your customers; some leverage demographics, others use psychographics. We like a high level view to assess customer loyalty.

Once a Day Marketing™ has developed a simple model with Five different categories of customers; Undecided, Never-Nevers, Blue Mooners, Zombies and Brand Lovers.

Undecided- the vast majority of consumers in the market place who would potentially buy your product but don't know anything about your brand
Never-Nevers – consumers who will never be attracted your brand regardless of your marketing efforts because they are loyal to another brand or can’t afford your product. Don’t spend precious resources trying to attract this consumer.
B lue Mooners - customers who have tried your product out of convenience rather than having an interest in a specific brand
Zombies- very good customers who habitually gravitate to your product but aren’t loyal. As soon as they discover competitor product attributes that are more interesting or beneficial they will seek out the alternative brand
Brand Lovers - the customers who will literally go out of their way to use your product because it provides them with an experience they absolutely love

Here are some tactics you can apply to influence each group toward your brand. Share more information with the Undecideds. One approach may be more traditional or social media marketing to put your message on their radar and generate enough interest for them to try your product.

Blue Mooners have tried your brand once, so the strategic question is how to motivate them to try it again. Zombies are already habitually using your product; however, they are not loyal so the challenge is to persuade to have an affinity for your product.

Brand Lovers are sacred to your business and are probably driving most of your revenue. Your goal is to provide them with more reasons to love your product and recommend it to their peers.