Tag Archive: advertising


Customers are more valuable than the money they spend.  They can help grow your company, whether they buy more or not.  Here are three things your customers can give you:

  • Ideas.  It’s a great misconception that customers don’t know what they want. Research and experience has shown the opposite.  Tap your lead customers for innovative ideas.
  • Credibility.  Customers are more credible than you are. This means they make better marketers than agencies or internal employees.  Identify your biggest fans and incent them to act as “champions” for your company.
  • Getting others to buy.  Customers are often more interested in a fellow consumer’s sales pitch than yours. Find ways to put them in touch with your prospects and let them close the deal for you.

Today’s Management Tip was adapted from “The Things Customers Can Do Better Than You” by Bill Lee.  

Asking the right questions is the key to finding innovative solutions to any problem, even finding a job.  Instead of asking “What job can I find today?” what if you asked, “What kind of job can I create today?”  The slight twist of one word might hold the key to more helpful answers.  Take a few minutes a day to write down nothing but questions about your job search.  Do this consistently for thirty days and your questions will take you down new paths.  For example, “How can I make a bucket of money?” may change to “What will make me happy for the long term?”  This could then morph to “How do I create something for the long term?”  The result may be seeking out different kinds of job opportunities, ones you may not have considered if you had not changed your line of questioning.  

Today’s Management Tip was adapted from “Find a Job Using Disruptive Innovation” by Jeff Dyer and Hal Gregersen.

As a business becomes more complex, it gets difficult to trace costs. If you aren’t sure where your company is making money — or losing it — follow these two steps to simplify:

  • Analyze profitability by offering or market.  There are often large profit disparities among lines of business, brands, products, and customers. Knowing exactly where you’re making money and how is the first step to making more of it.
  • Make sure each brand and SKU is pulling its weight.  Most complex companies have many brands or SKUs that contribute little to the bottom line. By targeting profitable ones and cutting the rest loose, you can free up significant capacity with negligible loss in revenue and volume.

Adapted from Guide to Finance Basics for Managers.  

If you have to put together an annual budget for your department, your compensation may depend on your ability to stick to it. Here are three tips for creating a manageable budget:  

  • Stay goal-oriented. If you aim to increase sales, make that your overriding concern. Don’t let other issues sidetrack you. 
  • Don’t do it alone.  Include your team members in developing the budget — they may have knowledge about certain line items that you don’t. 
  • Question your assumptions.  A budget should take current data, add assumptions, and create projections.  Be careful about the assumptions you make and question how likely they are to come true.  When you present the budget, you’ll need to be prepared to defend them. 

Adapted from the Harvard ManageMentor Online Module: Financial Essentials.  

Whether you’re a small company or a Fortune 500, customer feedback matters.  But it can be tough to navigate online feedback.  Which reviews are valuable and which are unreliable? Consider the following when dealing with the negative ones:

  • Seek a solution.  Post a response and offer a way to turn the situation around. Always extend an olive branch if you can.
  • Don’t treat all comments equally.  Anonymous reviews should never receive the same attention as authored comments.
  • Invite comments.  If you’re open to hearing input, you’re more likely to hear positive things.  Create forums for discussions about products or services, allow customers to post video testimonials, and keep social media lines open.

Today’s Management Tip was adapted from “What Angie’s List Knows About Customer Reviews” by Angie Hicks.  

Perfect Your Pitch

Elevator pitches aren’t just for start-ups. They are helpful in job interviews, networking events, presentations, or any time you need to quickly explain your case.  Instead of stumbling when asked, “What does your company do?”  prepare an effective pitch that outlines win-win goals and launches a deeper relationship.  Grab the listeners’ attention with a smart hook, and then convince them of the mutual benefits you could provide.  End by suggesting a follow-up and converting a chance meeting into an opportunity.  Speak in terms your audience can relate to.  And communicate with the passion that comes from knowing that this opportunity may never come again. 

Today’s Management Tip was adapted from Guide to Persuasive Presentations

Too often the strategy creation process produces options that aren’t any more interesting or creative than the current strategy.  If you find yourself agonizing over which of your carefully crafted strategic options is the right one, chances are you are taking the strategic planning process too seriously.  Give up being right and sensible.  Instead, tell a story about the future.  Make it aspirational and envision your organization in a happy and successful place.  Have everyone participating in the process tell their own story, and together you’ll have created a list of options.  Then start the real work of strategy creation: ask yourselves, for these stories to come true, what would have to happen? 

Adapted from  “Moving from Strategic Planning to Storytelling” by Roger Martin. 

 

The notion of going above and beyond customer needs is so entrenched that managers rarely question it.  But delighting your customers may be a waste of time and energy. In fact, most customers just want simple, quick solutions to their problems, and your company should make that possible.  Think about the service initiatives you have underway.  Question whether they are focused on reducing customer effort or adding unnecessary bells and whistles.  Start with frontline employees since they likely interact with customers the most. Make sure they have the skills, permission, and the incentive to reduce customer effort.

Adapted from “Stop Trying to Delight Your Customers: The Idea in Practice” by Matthew Dixon, Lara Ponomareff, and Anastasia Milgramm.

 

The notion of going above and beyond customer needs is so entrenched that managers rarely question it.  But delighting your customers may be a waste of time and energy.  In fact, most customers just want simple, quick solutions to their problems, and your company should make that possible.  Think about the service initiatives you have underway. Question whether they are focused on reducing customer effort or adding unnecessary bells and whistles.  Start with frontline employees since they likely interact with customers the most.  Make sure they have the skills, permission, and the incentive to reduce customer effort.

Today’s Management Tip was adapted from  ”Stop Trying to Delight Your Customers: The Idea in Practice”  by Matthew Dixon, Lara Ponomareff, and Anastasia Milgramm.   

 

To stand out from your competition, says an executive coach, you need to start a real, memorable conversation. Here’s how to do it.

Dear Annie:  I’ve only been out of college a few years, and I was hired into my first real job (which I still have) by an on-campus recruiter at a career fair, so I don’t have much experience with interviews.  Now, I’m looking around for something a bit more challenging. I have some tech skills that happen to be in demand right now, so I’m getting interviews, and they’ve mostly gone pretty well so far.

My problem is with the part of the discussion, usually at the end, when the hiring manager says,  ”Do you have any questions?”  I research each company online beforehand, and can usually think of a few things to ask about industry trends or particular moves the company has made lately, but I keep feeling like my questions are too predictable (kind of boring, actually).  What should I be asking? — Just Jerry  

Dear J.J.: ”If you talk to recruiters and executives who are actively hiring, they will tell you they get three types of questions: no questions, bad questions, and — very rarely — memorable questions,” says Andrew Sobel.  ”The candidates asking the memorable questions are usually the ones who get job offers.”

Sobel, co-author of a new book called Power Questions: Build Relationships, Win New Business, Influence Others, is a longtime consultant and coach to senior managers at companies like Citigroup (C), Xerox (XRX), Cognizant (CTSH), and Ernst & Young.  He says a recruiter for a fast-growing tech company told him recently, “You’d be surprised at how many job candidates have no questions at all, or they ask dumb questions like, ‘So what do you do?’”

That’s too bad, because asking the right things is “how you create a thought-provoking conversation, which puts you a cut above the average candidate,” Sobel observes.

While there is nothing at all wrong with what you’ve been asking interviewers so far, he suggests adding a few of these to the mix:

1. Why?  Questions like “Why did you close down your parts business rather than try to find a buyer for it?” or “Why did you decide to move to a product-based organization structure?” — which it sounds as if you’re already asking — not only show you’ve done your homework on the company and put some thought into it, but are open-ended enough to spark an interesting conversation. As a rule, Sobel advises avoiding any question someone could answer with a “yes” or “no.”

2. What has been your experience here?  Without asking anything intrusive, you want to form a connection based on some understanding of the interviewer’s situation.

Sobel recommends something like, “I understand you joined the company five years ago. With all the growth you’ve had, how do you find the experience of working here now compared to when you started?” Or try: “What do you like most about working here?”

3. Show your value.  In the interest of making the discussion a two-way street, think about mentioning a technique or process you’ve learned from your current job that a prospective employer might benefit from adopting. Obviously, with this approach, you have to be careful not to reveal proprietary information or give away any secrets.

4. Focus on the future.  Ask something like, “You’ve achieved large productivity gains in the past three years.  Where do you believe future operational improvements will come from?” or “Looking ahead to the next couple of years, what are the potential growth areas that people in the company are most excited about?”  Not incidentally, the answers could give you a sense of where your own career path could lead if you get hired.

5. Find out about the culture. You can learn a lot about what it would be like to work at a company, Sobel says, by asking, “What are the most common reasons why new hires don’t work out here?” or, conversely, “What kinds of people really thrive in your organization?” Along similar lines, “Why do people come to work for you rather than a competitor, and why do you think they stay?” could yield some valuable insights.

6. What are the interviewer’s selection criteria? Sobel says you should ask, “If you were to narrow the field to two final candidates for this job, with equal experience and skills, how would you choose one over the other?”  You may not get a totally candid answer (the truth might be, for example, that the candidate with the lower salary requirement would win out), but you still might learn something worth knowing.

The right questions, Sobel says, “allow you to demonstrate your knowledge without sounding arrogant, and they greatly improve your chances of hearing the best question of all — ‘How soon can you start?’”

Talkback:  What questions did you ask in your last job interview? If you’re a hiring manager, which questions from candidates impress you most (or least)?  Leave a comment below.

 

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