In today's economy, you want low barriers to entry. I've worked on setting up models which are all performance based. This is a great way to drive in new business, but can also create cash-flow problems later when it comes time to collect payment. The credit markets are tight, people are cautious and business owners usually have some of the worst track records with paying on time. Just ask the people at Amex, they're usually the first ones to be moved to the bottom of the pile when it's time to pay bills. Without any track-record with a new client, how can you ensure you'll get paid net 15 / net 30? I once knew a business owner that requested that we put all vendors on a Net 90. That makes sense on large contracts, but won't work for most vendors. It was a comical request considering that his company collected payment from their customers weekly. "We get paid weekly; we'...
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0 comments 1,406 readsPosted on 2009-04-05
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0 comments 1,217 readsPosted on 2009-04-05
Unless you've been living under a rock, you're likely familiar with Twitter. It's the big buzz in SM right now. I've been using it regularly for about a few months and have found some interesting uses for it. However, unless your a die-hard tweeter, or marketer it's hard to see a lot of the value in the service. It's basically a public-facing, searchable, text message repository. In my opinion, if it's going to have any legs, they're going to have to make some updates to the interface. There are already a ton of app's that have sprung up offering the features that Twitter should be offering themselves already.
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0 comments 1,307 readsPosted on 2009-04-02
It's been too long since my last post... In the past few months, I've been seeing an increased interest in Direct Mail, so I thought I'd post some thoughts and get feedback from everyone out there.
There's no question, that direct mail isn't considered one of the cheapest marketing channels lately, especially with the volume and production you can get out of email. However, there's alot to be said of mixing your marketing mediums and attracting a different type of customer. When digging through my bills and other junkmail (i'll classify bills as junk mail), I always appreciate a nice, high-quality, personalized mail piece in my mailbox. It's old school, but get's my attention sometimes more than an email with blocked images and no visible text (yes marketers still do that, I know some of the worst offenders out there).
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0 comments 1,505 readsPosted on 2009-02-28
In the past few months I've written several articles about lead nurturing and lead recycling. We're seeing a contraction across the market, everyone is trying to look for new ways to generate more leads. Lead nurturing is an often overlooked way to increase the ROI on sunk costs from front end lead acquisition. However, while these programs generate additional top-line revenue, they come at a cost. It would be nice to generate a steady ongoing stream of leads from a single investment, but that's not likely. You'll need to invest in systems, technology and resources to ensure your program is efficient. Think of it this way, when you nurture leads your recouping revenue and converting customers that you otherwise wouldn't get. I've seen examples of sales people holding onto leads, companies that have no visibility and quality sales leads that end up collecting dust. What is...
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0 comments 1,503 readsPosted on 2009-02-26
As marketers and decision makers, we need to find ways to be more efficient. We need to tap into the resources we have within our organizations and find ways to produce results with less...fill in the blank (resources, time, money, people). One of my favorite things to do is produce something really cool without a lot of resources.
That leads me to tonight's post on outsourcing. We've all witnessed recently as many of our friends and family have been let go from their employer. This has hit home for me, because I have some very close friends and family who have been impacted by down-sizing. I've also had to take part in this process as well on my own team, it was one of the hardest things I've experienced. I've had to fire plenty of people in the past for performance reasons, but it's so difficult when the only reason is budget...
It is what it is, but that leaves many people left in the wake who still need to get the job done. In some cases, people have been asked...
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0 comments 2,583 readsPosted on 2009-02-05
If your managing events, webinars or teleconferences there are several levers you can push to increase the success of your next event. You'll want to pay close attention to; list size, registration rate and attendance rate. If you'd like some ideas to use to increase your registration conversion, and you haven't tried pre-populated data on your landing page form, you might want to check this out... Over the past year, I've been able to successfully convert between 50-90% of landing page visitors into a registration (depending on the offer). -
0 comments 3,813 readsPosted on 2009-02-03
Social Commitment and Event Attendance When I find time, I've been reading a great book that I picked up called "Yes!" It's written by Dr. Robert Cialdini a social psychologist that focuses on persuasive marketing techniques. I've gotten a handful of great ideas from this book, and validated a few other things I've already proven through various campaigns.
In the book, they provided an example surrounding voter turnout. Anthony Greenwald (social scientist) and his collegues conducted this experiment. They were attempting to measure voter turnout rate for a local election, which have typically low turnout rates. This is extremely relevant given the fact that we just...
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0 comments 2,690 readsPosted on 2009-02-01
Your list. It’s kind of like a water well. Do you make steps to ensure your well isn’t contaminated, has an ongoing stream of clean, pure water… Or are you leaving it open to any number of problems that could leave you extremely thirsty and destitute one day.
With the downturn in the economy lately, many marketers have been turning to their list for new opportunities. With the right strategy, your list can produce tons of revenue. The problem many of them will find is that they haven't been treating their list very well over the past few years, so their results will be much lower than expected. It's like trying to drink a tall glass of dirty water...
I've spent allot of time lately thinking about list management, because I've gotten allot of requests to run various offers to different lists. When these requests come up, I’m often surprised by some of the...
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0 comments 2,043 readsPosted on 2009-02-01
I'm hearing a lot more talk of improving marketing ROI and a shift from lead acquisition to lead nurturing and conversion. The days of fat and sassy marketing spends, throwing money at additional new leads are coming to a close. If you're going to be successful and have a decent bottom line, you're going to have to go deep with your lists. You're planting seeds that will later be harvested.
The size of your lead nurturing program will largely be dictated by the size of your lists and the tools at your disposal. You can nurture a few hundred leads each week, or a few hundred thousand. The database that I nuture contains over 3 million records across ten brands and we communicate with over 100,000 people each week.
Lead Nurturing - Best Practices:
1. Offer Value - Make sure to offer relavant content
2. Limit Offers - No more than 1...

