The One-Trick Pony Syndrome

The One-Trick Pony Syndrome

Have you ever heard the phrase, “a one-trick pony?”

Researchers believe the “one-trick pony” phrase comes from an entertainment background. According to research, the earliest reference was associated with circus ponies used to perform a trick or feat that impressed audiences. The ponies involved could do an amazing act, such as walking on their hind feet, but that was all they could do. Eventually, the audiences got bored with the show. In one version of the story, a pony had a dog partner that would ride on it. While the audience got sick of seeing the pony do the same thing every time the circus was in town, the dog gained fame because it learned and began to perform new tricks. In time, the dog became the star, and the pony was relegated to hauling circus carts.

Is Your Business A One-Trick Pony?

The moral of the story here is not to allow your business to get stuck on only one good thing. It’s tempting to think that if you have something good going, why ruin it? Well, over time that good thing will become less and less popular. The number of customers who want it will diminish and the business will have to start cutting prices to keep it attractive. Eventually, the product or service won’t sell at all. 

Palm PDAs and Blackberry were both perfect examples of the one-trick pony mistake. They both had a really good product for a while, but both companies failed to upgrade and develop new products. Eventually, someone else did, and their customer base walked away. Those text screens on a Blackberry and similarly on a Palm PDA simply looked old and obsolete versus smartphones like the original Apple iPhone. The world had changed.

It’s Time to Diversify

Is your business riding the wave right now of a star pony? If so, now is the time to be looking for and generating a new path. Diversify into a new product or new service. Not only does it protect your business’ longevity, but multiple revenue streams from different customers will eventually offset each other when one of them starts to weaken. 

Companies that map out their product/service life cycle and plan for eventual loss with replacement “ponies” are the firms that survive and grow. Don’t let all your energy, money, time, and effort go down the drain with a one-trick pony. Instead, use the initial success to be your springboard for the next one.

Read More

Never Be Afraid to Take on the Big Boys

Never Be Afraid to Take on the Big Boys

Something strange is happening on the yogurt shelves: the most popular yogurt is not from a big maker like Dannon or Yoplait. It’s a product from a small, 12-year-old upstart from New York. In March, Bloomberg wrote that Chobani had overtaken Yoplait to become the most popular yogurt in the U.S. The story of how this independent took on the big brands and won has lessons for all of us.

Distinguish Yourself From Your Competitors

Big yogurt brands had become complacent and did not anticipate how new products would catch customers’ interests. Instead of sticking with the same types of yogurt already popular in the U.S., Chobani made their name with Greek yogurt, a thicker and richer product. By the time the larger yogurt companies introduced their own versions of the product, it was too late. Consumers had become loyal to the brands that made Greek yogurt popular.

If you craft your marketing materials and your products to fill a need that your competitors are not, that gives you a competitive edge. Look for what makes your product different from a bigger player in your market and offer what they don’t. By the time they are playing catch-up, you can be the leader.

Be Willing to Make Changes Quickly

Product development at big food companies can take years. At Chobani, a product will sometimes go from concept to trial in the space of a weekend.

In your marketing, if you see an opportunity, be willing to take it before your competition does. This requires a high degree of social listening and a willingness to take chances. Smaller and leaner organizations can adapt far more quickly, allowing them to be the ones who seize an opportunity. 

Be Authentic

Millennials now make up the largest consumer cohort. Their priorities are different than the priorities of previous generations. They are less likely to do business with a company that they perceive as a large and impersonal conglomerate. Chobani was founded by a Kurdish immigrant who fled political turmoil in Turkey. After spending time in Europe, he arrived in the U.S. with $3,000 and a small suitcase. In the following years, he built a company that dominates the $3.6 billion Greek yogurt industry.

Do not try to look like one of the big companies in your industry. Portray yourself as the lean, quick, and effective organization that you are. A smaller company, for instance, has staff at the highest levels who are knowledgeable about all customers. This can give your customers a far more personal degree of customer service.

Make News

Over the past couple of years, Chobani has made news for its innovative policies. When the company began seeing large successes, Chobani CEO Hamdi Ulukaya responded by giving 10% of the company’s equity to employees and putting a generous 6-week parental leave policy into place. 

What does your company do that is newsworthy? Those practices can build your image and give you more effective marketing than you can buy.

A company’s dominance in an industry is never certain. By taking advantage of opportunities that you have and the bigger players don’t, you can increase your own success.

Read More

Using the Holiday Season to Your Advantage in Your Marketing

Using the Holiday Season to Your Advantage in Your Marketing

When it comes to marketing success, the importance of a timely, relevant campaign cannot be overstated enough. You see this all the time with major brands – some big event is going on somewhere in the world like the Super Bowl and marketers rush to be the first to integrate it into their campaigns. As the cheery holiday season rolls around yet again, you’re presented with the perfect opportunity to do exactly that – at least until the stroke of midnight on New Year’s Eve.

But, if you really want to integrate the holidays into your marketing campaign and generate the type of success you deserve, you’ll want to keep a few very important things in mind.

Use Holiday Visuals Whenever Possible

Visuals are always an important part of your marketing collateral, but they become especially so during the holiday season. From roughly November until the Christmas holiday season passes, people are already in a receptive mood for this type of imagery – so filling your marketing materials with holiday-themed colors, Christmas trees, packages, and other items is a great way to make sure you’re noticed.

According to one study, this type of imagery can increase a person’s retention of your messaging by up to 80%. This type of visual element can make your content more likely to be shared up to 40 times more than the average amount.

Look for Local Events You Can Sponsor

If there’s one thing you can essentially guarantee about the holiday season, it’s that calendars will be filled to the brim with holiday events all throughout the month of December. If you really want to attract the attention of that ever-important local market, you should start looking around for local events that you can sponsor. Not only can you help get your brand out there and raise awareness, but even if the event is only slightly related to your product or service you can still make new contacts and generate new leads as a result.

It’s All About Emotion

If there is one key to success regarding holiday marketing, it can all be boiled down to a single word: emotion. The holidays are a naturally emotional time as people get nostalgic for friends, family members, and holiday experiences of years past. It’s also a time where people make decisions emotionally rather than rationally – especially when it comes to purchases. Because of this, you should try to lean into the most emotional factor of your campaigns as much as possible. Focus on cheery words and images that will help people feel good about things like giving back, “paying it forward,” and more. This is more likely to trigger an emotional response in your campaign, which will spawn action sooner rather than later.

These are just a few of the core ways you can use the holiday season to your advantage throughout your marketing campaign. Perhaps the most important benefit of the holidays is that you’re working with a built-in ticking clock. Christmas is right around the corner, and no matter what you do, you can’t delay it. People will naturally feel inclined to get those last minute gift purchases in before the big day arrives. If you’ve been playing into the holidays for your entire campaign, you can pretty much guarantee that you’ll be on the forefront of their mind.

Read More

How to Court the Younger Generation: Creating the Future of Your Business by Marketing to Millennials Today

How to Court the Younger Generation: Creating the Future of Your Business by Marketing to Millennials Today

In the world of marketing, there’s a natural instinct to go after certain segments of the population when marketing because those are the ones that spend the most money. That may be good for short-term gains, but any business worth its salt will always be thinking about the future. And regardless of the industry, the future can be summed up in one beautiful little word: millennials.

Commonly defined as anyone between the ages of 18 and 34, or those born in 1982 and up, millennials outnumber baby boomers by roughly a half a million people. They’re the largest generation in the country right now and, make no mistake, the one that the very future of your business will be based on. If you want to court the younger generation and create a solid future for your business, you’ll need to keep a few key things in mind.

Treat Them as Equals

No consumers like to be talked down to or told what to do – but this is especially true with the younger generation. Millennials can absolutely sense “marketing speak,” so don’t think that is going to buy you a whole new generation of customers, either. According to one study conducted by Kissmetrics, 89% of millennial buyers trust recommendations from friends and family members MORE than any claim that a brand could make.

Use the same tactics that you’ve been using to win over older generations, but reconfigured for a younger audience. You should still be putting helpful, relevant content that appeals to the people you’re trying to attract out into the world, but keep in mind that what is relevant to a 20-year-old isn’t necessarily the same thing that’s relevant to a 65-year-old. Buyer personas are going to be hugely valuable in this regard to help guarantee your eye is always “on the prize.”

You’re a Combination Marketer Now Whether You Like It Or Not

Marketing to specific groups of people has always required putting your efforts to where those people actually are, and millennials are no different. Millennials are nostalgic about direct mail and appreciate personalized invitations and advertising they can hold. Likewise, according to a study conducted by Nielsen, more than 85% of millennials own a smartphone. That means your digital marketing needs to marry with your print marketing for the best way to meet your audience where they’re at.

When used together, print and digital marketing successfully target that coveted younger generation. Think digital with a smartphone-based loyalty rewards program, and connect that program to your direct mail campaign. Social media is another obvious example. Tie your social media efforts with posters, envelopes, and more to create the best of both worlds.

At the end of the day, it’s important to remember that no business – regardless of what it is – is time-proof. If you focus all of your efforts on one particular age range or demographic, you run the risk of accidentally making yourself irrelevant when that group invariably ages out of the product or service you’re offering.

Read More

4 Stubborn Business Myths

4 Stubborn Business Myths

Entrepreneurs know that owning a small business takes dedication, passion, and hours of concentrated work. You may run into obstacles that test your business and your perseverance, obstacles that are norms in the world of business which each entrepreneur must learn to navigate. However, there are some obstacles that you may be facing without realizing it. Those barriers are stubborn business myths that just won’t go away because people believe them, even though they aren’t true.

1. It’s not what you know but who you know.

In the course of doing business, business owners or potential business owners come up against this belief time and time again. However, while it is true that knowing the right people may help you get started or get access to some deals, in most businesses it is expertise, experience, and skill that propel you forward in business. If you can provide the solutions customers want, they will refer you to their friends and family.

2. Nice guys finish last.

This myth is a holdover from the era of Western movies and superhero comics. Nice guys (always portrayed as pushovers or wallflowers) finish last because the villains and heroes walk all over them. In film, this may be true. After all, Tony Stark isn’t a nice guy. He is an arrogant, self-centered genius. However, The Avengers aside, in real life, nice guys finish first quite often. While a person with low self-esteem who doesn’t speak up will not be successful without change, a courteous business owner is appreciated immensely by customers and vendors.

In today’s modern world, people are used to dealing with machines, poorly-paid clerks, and online shopping. Finding a business person who is willing to offer them genuine customer service, build a relationship and spend time getting to know them to better serve them is rare. Many people are happy to pay more for real customer service. Therefore, being a “nice guy” is valuable to your contacts. They will remember your excellent service and come back for more.

3. Don’t work hard. Work smart.

This myth is one of the worst business myths out there. There is no way you can run a business without working hard. Hard work is what separates the “men from the boys” as entrepreneurs. Successful entrepreneurs put in hours of labor to get their businesses off the ground. Working smart is just another way to say that there is a workaround or that you can find a way to skip the hard work. It just isn’t possible in reality. If you aren’t willing to work hard, you won’t make it in business.

4. It’s called work for a reason. It’s not supposed to be fun.

All work has elements that workers do not like to perform. It might be the paperwork that you need to fill out for each customer or the data entry on your last case. However, why can’t work be fun?

People who find work that satisfies them are much happier in life. That happiness translates to their work and their interactions with co-workers, customers, and vendors. If you love to sell, create graphic designs, or help customers find what they are looking for, then you ARE having fun at work. In fact, many companies are now providing their employees with ways to have fun at work to help reduce stress and fatigue.

So go ahead and have fun while working! It can only improve your outlook and production. Work can be fun.

Read More

Create An Environment That High-Value Employees Want To Work In

Create An Environment That High-Value Employees Want To Work In

If you tasked most business leaders with sitting down and making a list of their struggles, attracting high-value employees would more than likely fall close to the top. Finding those versatile, well-rounded, and driven candidates is one thing – getting them to come aboard is something else entirely. Making sure you’re not just a “stepping stone” in someone’s successful career is also a lot easier said than done. If you want to attract the type of high-value employees that will carry your organization forward, you have to start from within and create the kind of organization they want to work for in the first place.

Would You Want to Work for Your Business?

If you want to attract high-value employees in a marketplace that is growing increasingly competitive with each passing day, you need to start by putting yourself in their shoes. What are some things that 21st-century talent may be looking for that you aren’t currently offering?

Thanks to things like SaaS (software-as-a-service) and IaaS (infrastructure-as-a-service), the ability for businesses to allow employees to work remotely has become a significant priority for quality applicants. Even if you don’t feel comfortable bringing someone on and allowing them to work from the home full-time, see if having them work remotely two out of the five business days is something you can manage.

Likewise, BYOD (bring your own device) has become a significant priority for younger employees. It lets them bring their own smartphones, tablets and other devices to work that they already feel comfortable using, thus increasing the overall quality of the work they’re able to generate. It also helps save money for businesses, as you no longer have to pay to purchase and maintain a computer for an employee if they’re already bringing one from home. These small changes to your existing policies can go a long way towards creating the type of environment and culture that attracts the talent you’re after.

Get Competitive

Another one of the core ways to attract valuable employees these days involves being as competitive as possible when it comes to job perks. Apple, for example, has a now-legendary attraction strategy that includes not only traditional perks like healthcare, but also things like educational reimbursement as well. Not every company has the type of bankroll that Apple does, but it’s always important to remember that making an investment in your employees through competitive perks is ultimately an investment in the future of your company.

These are just a few of the many ways that you can create the type of environment that makes it easy to attract high-value employees and even easier to retain them for the long haul. Remember: quality employees don’t grow on trees, and the difference between someone who is “just punching a clock” versus someone who is putting their blood, sweat, and tears into the task at hand is an immense difference, indeed. By putting yourself in their shoes and creating the type of company they can’t help but want to work for, you, in turn, create the kind of company clients can’t wait to do business with.

Read More

The Courage of Success

The Courage of Success

Setting goals to drive revenues and profits is part of doing business. We all strive to be successful in business and in life. When we are young, we look for careers that will make us successful to get the things we want such as a beautiful house, cars, and money. Most people define success as the ultimate goal.

However, there are other ways to look at success.

“Success is not final; failure is not fatal; it is the courage to continue that counts.” ~ Winston Churchill

Churchill defined success and failure as a journey instead of the end goal. How do you define success? If you look at success and failure as part of a journey instead of an end goal, life looks very different. Instead of always striving to seek the end, you are marking points along the pathway as measures of success and failure. None of these points is the ultimate goal, but rather, destinations that you can reach and surpass.

When you define success in this manner, it takes much of the stress away as you pursue your goals. While still working to create success, whether that is a monetary target or achieving other goals such as graduating from school, gaining particular skills, or training an employee successfully, you know that each point is not an end. In fact, each time you achieve success, it is a beginning of the next segment of your journey.

On the flip side, defining success as part of the path means that failure is also part of the path, and not a crushing blow. While no one likes to fail, you can take your failure as a learning opportunity to improve the next time you journey in the same direction. Breaking down the road to success into smaller, doable achievements can help you gain strength to pursue your goals and succeed multiple times.

Churchill said, “It is the courage to continue that counts.” Sometimes, we wake up in the morning and want to be anywhere except at work. However, a successful business person is the one who continues to work day after day whether they want to or not. It takes courage to persevere during the good times and bad, especially when you are not sure if you will be successful that day. When the economy is tough, and business is hard to find, it takes courage to keep looking for new customers.

It also takes courage to change with the times. No matter how long you have been in business, change is inevitable. These days it seems to come faster than ever. However, success means the courage to make the changes that will help you continue to grow in business. In fact, your successful business influences the world around you. As your business continues to flourish, you add to the economy and help bolster the lives of everyone that you touch.

Your courage to continue along a successful pathway creates a ripple effect. By setting an example for your employees, your customers, your vendors, and your family and friends, you show everyone the true meaning of success. You have the courage to continue moving forward.

Read More

Pull Back the Curtain: Providing a Backstage Glimpse of Your Company

Pull Back the Curtain: Providing a Backstage Glimpse of Your Company

One of the primary objectives of any marketing campaign you run has nothing to do with selling your product or service. While these will always be important, equally necessary is your ability to sell yourself as a company. People want to know more about the people who work in your business and the values and ideals that you have. They want to be able to look at you as an authority. Pulling back the curtain and providing a “backstage” glimpse into your product or service is one of the single, best ways to accomplish both of these things at the same time.

The Benefits of the Backstage Approach

One of the major benefits of this type of “backstage” approach is that it helps position you as a true authority on a particular topic. It’s one thing for you to SAY that a product performs X, Y, and Z functions – it’s another thing entirely to prove it by providing an unprecedented look into the design and development process. You can shed insight on your decision-making process, for example, helping them to not only SEE what your product does but WHY.

Taking a “backstage” approach to marketing also helps to strengthen the intimate, organic connection you’re able to create with your target audience – thus helping to build brand loyalty. Think about it from the perspective of the entertainment industry, as celebrities, in particular, are masters at this. DVDs are filled with hours of special features outlining how a scene was shot, how a script was written, how a special effect was pulled off and more. This instantly makes something that cost hundreds of millions of dollars to make seem smaller and more intimate, while letting audiences take their experience to a whole new level at the same time. Providing a similar look into your own operation will have the same effect for you, too.

Pulling Back the Curtain

Unless you’re launching a product that is shrouded in complete secrecy, you can start pulling back the curtain pretty much right away. Even if it’s something as simple as updating a weekly blog post with sketches, schematics, and other materials from the research and development phase, this will go a long way towards increasing transparency across the board. Have employees talk about the specific work they’re doing on a daily basis and how even though they’re all working separately, they’re all contributing to a larger whole.

This startlingly simple approach helps to close the gap in between business and customer, making a customer actually feel like they’re a natural part of the process. When you combine this with all of your other marketing techniques, you’re looking at a striking amount of loyalty built just from publicizing activities that were already going on behind closed doors anyway.

These are just a few of the many reasons why providing a “backstage” glimpse can help bring your product or service to life. Not only does it help provide a valuable context to the particular product or service that you’re trying to sell, but it also helps build a strong, positive impression of your company. People will stop seeing you as a faceless entity and will start looking at you more like the living, breathing, hardworking people that you really are. This will only deepen the connection that you have with your target audience and make interaction more meaningful in the future.

Read More

Buyer Personas: What They Are, Why You Need Them, and What Should You Do About It

Buyer Personas: What They Are, Why You Need Them, and What Should You Do About It

In marketing, one of the most important terms that you need to keep in mind at all times is “focus.” In order to run a successfully executed campaign, you need to remove as much of the superfluous noise from your materials as possible and boil it down to the core essentials. You can’t appeal to all people all of the time, which is why focusing on creating the right message and using the right delivery channels is so important. Buyer personas are a concept that allow you to do just that in a host of different ways, all of which are beneficial to you and your team moving forward.

What is a Buyer Persona?

In marketing terminology, a buyer persona is essentially a person that doesn’t exist. They’re a fictional representation of the type of person who is most likely to buy your product or service after hearing your marketing message. Buyer personas are created using as much actionable information about your ideal customer as possible: How old are they? Where do they live? Do they have any children? How much money do they make? What types of products have they purchased in the past? What do they like? What do they hate?

If you knew all of the answers to those questions when talking about a real person, you’d already have a pretty vivid picture about how that person acts and what their personality is. You’d certainly have an easier time talking to that person and relating to him or her – which is what buyer personas are all about in the first place.

Why Are Buyer Personas Important?

By creating a fictional representation of the person who makes up your ideal customer, you always have something to refer to when crafting your marketing materials. Say your business’ buyer persona is Jane – she’s a 35-year-old mother of two with a combined household income of $150,000. Instead of “throwing everything and anything at the wall and seeing what sticks” in terms of your marketing campaigns, you have something to compare your techniques to. How does your product or service fit into Jane’s life? How does it solve a problem that she has? How does it align with past purchases she’s made? The answers to these questions will drive your marketing decisions moving forward.

Crafting Buyer Personas

Creating a buyer persona requires you to be two things at all times: detailed and accurate. After you’ve been in business for an extended period of time, you have access to huge volumes of data regarding things like market research and even your past customers that you can draw from. To a certain degree, all of this data should dictate the buyer personas you create, which in turn should dictate the direction of your marketing. Are a significantly large number of your past satisfied customers men between the ages of 18 and 34 who have no kids? Congratulations – you have the basic framework to begin building a buyer persona. Any marketing technique that isn’t directly appealing to that specific type of person is one that you now need to re-think.

It’s important to not go “too far” when creating buyer personas, however. If buyer personas are all about focus, going out of your way to have too many personas is a great way to instantly undo all of the benefits that you’ve just worked so hard to build for yourself. Focus on a few core types of customers and craft buyer personas for each, and then compare every marketing move that you make against the information you’ve compiled for guidance on what to do next.

Read More

Is It Possible to Succeed in an Over-Saturated Industry?

Is It Possible to Succeed in an Over-Saturated Industry?

The Internet makes it easy to see just how many businesses are vying to compete in an increasingly competitive atmosphere. At times, it seems there’s a business or product for just about any want or need. So how do some people manage to successfully establish new companies and find their way to positions of leadership in this hyper-competitive marketplace? How is it possible to break in when it seems as though your industry is already saturated?

Determine what unique qualities you have to offer

Think back to why you got involved in your industry. Chances are there was something about this particular business that piqued your interest — some aspect about it that made you know you could succeed. Perhaps you saw some unique ability or talent in yourself that you knew others couldn’t match. Uncovering that ability and finding ways to market it are the first steps to building your niche.

As consumers, we’re increasingly aware of all the options available to us to buy products from just about any vendor anywhere. While this can make it daunting as a business owner to think about just how much competition we have online, it also makes it easier to find a specific niche to fill.

Your niche might consist of just a few thousand people around the world. Before the Internet, it would have been impossible to reach those people and have a productive business. With the Internet, however, you can now market to your specific niche and build a successful company.

Develop personal relationships online and in person

Personal relationships are more critical now than ever before. Customers expect to be able to speak with you, ask any questions they have, and receive specific answers quickly. While many companies have begun to realize this important truth, many are still lagging behind. Taking the time to develop this kind of relationship with customers can help you stand out against the competition. It can also help nurture customer loyalty, which will provide added stability as your company grows.

As you’re building relationships, make sure you’re also nurturing contacts within your community. Sponsor local groups, charities, and events. This is a great way to connect with people on a personal level and encourage them to try your company. Such connections help to build brand awareness and recognition in the community. That way, when people are ready to make a purchase, they’ll be more likely to turn to you because of your constant presence and overall standing in the community.

Use every tool at your disposal

You have a number of tools at your disposal for getting the word out about your company. When you’re competing in a tight industry, you need to take advantage of them all. As you’re designing your logo and marketing materials, use color psychology to create the best possible impression on potential customers.

You can also use the modern tools of website design to your advantage. Track your visitors and find out where they’re coming from and why they are or aren’t making purchases. The better you understand your customers’ actions, the more you can do to improve your marketing and services to reach them.

It’s not easy to find your way to success when it seems as though there’s already a business to address any problem out there. Take advantage of the above techniques, and it just might be possible to be successful in an already saturated industry. Contact us today if you’re interested in learning more about how our marketing techniques can help you get ahead.

Read More
Subscribe to Blog Here

About Acme Printing

Joe Printer, owner of Acme Printing

Acme Printing has a distinctly human approach to the printing business. We always figured that putting people before profits just made good commonsense.

More »