There was breakdown in the assembly line and no one on Henry Ford’s staff could fix it. As the story goes, his production lines were down for hours; hours turned into days, and Ford was frustrated. In desperation he called an electrical engineer friend whom he trusted to come to his plant, diagnose and repair the problem. His friend promptly arrived and after about ten minutes the Ford lines were up and running. A most grateful Henry Ford thanked him and told his friend to invoice the Ford Company for the repairs. A few days later Henry Ford received an invoice from his friend in the amount of $10,000. Flabbergasted, Henry called his friend on the telephone and protested, “You only tinkered around for ten minutes! Ten-thousand dollars?!” His friend agreed that he would re-invoice the repairs. A few days later Henry Ford received a modified invoice:
Aug 06, 2013
Jan 08, 2013
Marketers have many new technologies at their disposal that increase efficiency, agility and productivity, including marketing resource management
systems, but building the business case for investing in these resources can be difficult. When evaluating any new tool, marketers and business leaders need to look at ROI, but they should also consider the cost of inaction (COI), as reported recently by B2C. Measuring the cost of inaction involves quantifying the opportunity costs of continuing in the status quo, as well as engaging with internal stakeholders to gather the information you will need to create urgency for the proposed change. Here are three steps for making the case for change – and succeeding.
Dec 20, 2012
Today’s marketing environment can be frenetic to say the least, and effective marketing management is all about strategy. Your budget and resource constraints limit the number of activities your team can reasonably support in any given week or month, and making time to accomplish the most important activities demands expert prioritization. Here are four steps for boosting marketing productivity.
In Part 1 of our series on Building Brand Trust, we discussed strategies for building trust through social media and customer communities. While companies should always strive for a proactive approach to building brand trust, however, there are times when trust has been broken and needs to be restored. Here we discuss strategies for repairing broken trust – even when it may seem like an impossible task.
Dec 11, 2012
During Cincinnati’s recent BrandHUB launch, we had the opportunity to hear Guy Kawasaki speak. His second pillar of enchantment, trustworthiness, struck a chord of relevance with us, especially to building brand trust. Whether you’re an individual or a business, trust is integral to success. To build trust, you first need to extend trust; then, follow it up by modeling trust through authentic and transparent customer communications. Here are three guidelines:
As consumers have embraced social media in the Digital Age, they are conducting more research online than ever before.The digital environment is rapidly evolving, and navigating it requires the insight and collaboration of multiple departments.
Aug 30, 2012
The maxim, “Work smarter, not harder” has never been more relevant than in today’s resource-pressed marketing environment, and multichannel marketing is becoming essential to shortening the path from campaign to conversion. According to a recent study conducted by Forrester Research on behalf of Sitecore (n=226), “86% of marketers surveyed either agree or completely agree (Top 2 answers on a 5 point scale) that successfully integrating multiple channels under a single integrated marketing strategy is critical to their long-term success.”
Jul 24, 2012
With more consumers conducting pre-purchase research online, lead nurturing remains an important strategy in maintaining prospect interest during the early stages of the consumer decision journey, while content has gained momentum as an important sales support resource. This new environment creates a new model of collaboration between Sales and Marketing.
With nearly 50 percent of mobile phone users in the U.S. carrying smartphones, and 25 percent of this sample also carrying tablets, connected devices and tablets have gone mainstream and are leading the shift towards a mobile-driven consumer decision journey. Accordingly, the IBM State of Marketing 2012 report found that 41% of marketers worldwide cite the growth of channel and device choices as the top challenge to their company over the next 5 years, while adoption of mobile websites and mobile applications grows.
Jul 12, 2012
In Olympic training, preparation is everything. Olympic athletes prepare rigorously to become champions in their respective events, and the process demands unwavering commitment, discipline and focus. Just as athletes develop their skills and expertise over time, so do leads need to be consistently nurtured. You can’t qualify for the Olympics after taking one swimming lesson – nor does it make sense to ask for a prospect’s business the first time you encounter a lead. With myriad messages competing for your prospect’s attention, a formal lead nurturing strategy can help to convert new leads into customers by providing the right content at the right time. Here are five steps for designing your lead nurturing strategy and creating content that converts.