Creatively Managing Relationships Kevin Toomer, Corporate Living Melissa Stevens, Gables Corporate Accommodations

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1 Creatively Managing Relationships Kevin Toomer, Corporate Living Melissa Stevens, Gables Corporate Accommodations Three Myths about What Customers Want by Karen Freeman, Patrick Spenner and Anna Bird Harvard Business Review Most marketers think that the best way to hold onto customers is through engagement interacting as much as possible with them and building relationships. It turns out that that s rarely true. In a study involving more than 7000 consumers, we found that companies often have dangerously wrong ideas about how best to engage with customers. Consider these three myths. Myth #1: Most consumers want to have relationships with your brand. Actually, they don t. Only 23% of the consumers in our study said they have a relationship with a brand. In the typical consumer s view of the world, relationships are reserved for friends, family and colleagues. That s why, when you ask the 77% of consumers who don t have relationships with brands to explain why, you get comments like It s just a brand, not a member of my family. (What consumers really want when they interact with brands online is to get discounts). First, understand which of your consumers are in the 23% and which are in the 77%. Who wants a relationship and who doesn t? Then, apply different expectations to those two groups and market differently to them. Stop bombarding consumers who don t want a relationship with your attempts to build one through endless s or complex loyalty programs. Those efforts will be low ROI. Chances are there are higher returns to be had elsewhere in your marketing mix. Myth #2: Interactions build relationships. No, they don t. Shared values build relationships. A shared value is a belief that both the brand and consumer have about a brand s higher purpose or broad philosophy. For example, Pedigree Dog Food s shared value is a belief that every dog deserves a loving home. Southwest Airlines shared value revolves around the democratization of air travel. Of the consumers in our study who said they have a brand relationship, 64% cited shared values as the primary reason. That s far and away the largest driver. Meanwhile, only 13% cited frequent interactions with the brand as a reason for having a relationship. Many brands have a demonstrable higher purpose baked into their missions, whether it s Patagonia s commitment to the environment or Harley Davidson s goal to fulfill dreams through the experience of motorcycling. These feel authentic to consumers, and so provide a credible basis for shared values and relationship-building. To build relationships, start by clearly communicating your brand s philosophy or higher purpose. CEB has done extensive work on shared values, showcasing how brands like Mini, Pedigree and Southwest use them to engage with customers. You might also check into Jim Stengel s examination of growth ideals and David Aaker s latest work on brand relevance.

It turns out that that s rarely true. In a study involving more than 7000 consumers, we found that companies often have dangerously wrong ideas about how best to engage with customers.

2 Creatively Managing Relationships Kevin Toomer, Corporate Living Melissa Stevens, Gables Corporate Accommodations Three Myths about What Customers Want (continued) by Karen Freeman, Patrick Spenner and Anna Bird Harvard Business Review Myth #3: The more interaction the better. Wrong. There s no correlation between interactions with a customer and the likelihood that he or she will be sticky (go through with an intended purchase, purchase again, and recommend). Yet, most marketers behave as if there is a continuous linear relationship between the number of interactions and share of wallet. That s why, as the Wall Street Journal recently reported, you see well-established retailers like Neiman-Marcus, Land s End and Toys R Us sending customers over 300 s annually. In reality, that linear relationship flattens much more quickly than most marketers think; soon, helpful interactions become an overwhelming torrent. Without realizing it, many marketers are only adding to the information bombardment consumers feel as they shop a category, reducing stickiness rather than enhancing it. (For more on consumers cognitive overload, see the sidebar Too Much Information in our recent HBR article. Instead of relentlessly demanding more consumer attention, treat the attention you do win as precious. Then ask yourself a simple question of any new marketing efforts: is this campaign/ /microsite/print ad/etc. going to reduce the cognitive overload consumers feel as they shop my category? If the answer is no or not sure, go back to the drawing board. When it comes to interacting with your customers, more isn t better.

There s no correlation between interactions with a customer and the likelihood that he or she will be sticky (go through with an intended purchase, purchase again, and recommend).

3 Overcoming Challenges for Smaller Companies Matthew Graham, CCHP Corporate Accommodations, Inc. Targeting potential customers that have needs in your area but offices outside your market Winning Government contracts Marketing: How do you compete with a smaller budget Partnering with Larger companies Findings ways to Grow Less support staff (Wearing multiple hats) Hiring the right people

Winning Government contracts Marketing: How do you compete with a smaller budget Partnering with

4 Comparing CRM Systems & Experiences Tammy Jackson, CCHP, Princeton Properties Mary Stang, Churchill Corporate Services CRM = Customer Relationship Management software. Uses include: Manage and Analyze Customer Interactions Improve Customer/ Client Relationships Increase Client Retention and Growth Opportunities Track Performance and Productivity ALL IN ONE PLACE! TOP 10 CRM s Reported by an online directory of business software and vendors. Salesforce ZOHO Swiftpage/Act! SAP Microsoft Dynamics Maximizer CRM Oracle Sugar CRM Infusionsoft Apptivo Compare CRMs The following websites offer some great comparisons for you to review at your leisure Cost of CRMs Salesforce: $5 - $300 per user per month Landslide:$29 - $79 per user per month Swiftpage: $ $59.95 per month, additional user $5.99/mo for each. Additional pricing and comparisons can be found at: Consumer Tip: Pricing can be discussed and negotiate based on the use and needs of the customer. Say What!?! Salesforce user You get more out of it than what you put into it. Easy to use, many app integrations to speak to other systems, mobile friendly. Landslide user Excellent for small business with limited users. Most cost effective model for the need without giving up important features. ACT user we were able to purchase only what we needed. Since the purchase in 2003, ACT has made many improvements.

TOP 10 CRM s Reported by www.capterra.com an online directory of business software and vendors. Salesforce ZOHO Swiftpage/Act!

5 The Seven Best Practices of 2015 s Most Successful Managers and Sales Pros Bill Todd, Immediate Impact Marketing Barb Hale, V-Suites 1. Establish a Daily Sense of Sales Urgency - Come to work every day determined to out-sell, out-network, out-promote but NEVER out-spend the competition. 2. Focus on Your Existing Customers First - Why? It costs five times as much to acquire a new client than it does to motivate an existing customer to rent again. Repeat business is your most powerful engine for exceeding your 2015 sales goals! 3. Take Direct Aim at Your Competitors Customers - Your overall success in prospecting for new clients depends upon identifying potential customers who are using your product type, and who are comfortable with your price range. The good news is that your competitors residents fit the bill perfectly. 4. Constantly Shop the Competition - You can t effectively target your competitors customers if you don t know what you re up against. The best place to start shopping the competition is with the three companies to whom you lost the most business to in Kick the tires and observe every aspect of their business that touches customers. 5. Inject Fun into Your Business - This is the single most powerful, yet least understood, competitive advantage available. 6. Loosen Your Death Grip on Marketing - is a great tool to follow-up with a client immediately after a sales call. It is a lousy tool to depend on solely for attracting new sales. Why? Last year your customers spent over 8 hours each workweek plowing through their . That is one full day a week that is now lost to slogging through and responding to a mounting avalanche of messages. Pick up the phone! 7. Persistence, Persistence, Persistence - Its official, persistence, persistence, persistence has replaced location, location, location as the three most important words in business. The most powerful strategy you can employ in pursuit of success is to just out-sell the competition. No rocket science is required just good, old fashioned determination.

It costs five times as much to acquire a new client than it does to motivate an existing customer to rent again. Repeat business is your most powerful engine for exceeding your 2015 sales goals! 3.

10 Steps To Getting Started With. Marketing Automation

10 Steps To Getting Started With. Marketing Automation So the buzz about marketing automation and what the future holds for marketing in general finally got to you. Now you are ready to start using marketing automation and are not really sure where to start.