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Score Points with Customers; Get Better Information

Posted on December 18, 2007 by Sarah Eaton.

Scoring_points BeTuitive's publishing team members share their thoughts on the executive summary for "Scoring Points: How Tesco Is Winning Customer Loyalty" by Clive Humby and Terry Hunt with Tim Phillips:

Kevin Grant

I felt this book summary was of reinforcement than an innovative piece.  The summary had a strong narrative approach with the beginning, middle, end and the trouble along the way.  In working with the analytical side of electronic publishing, the approach to conducting a rewards Clubcard initiative aligned strongly with our practices at BeTuitive.  A paramount practice at BeTuitive is creating value from the data we collect with our various B2B and B2C campaigns.  The RFV analysis (observing customers buying patterns in Recency, Frequency and Value) is along the lines of our Business Intelligence analysis.  Collecting large amounts of data, organizing it into valuable clusters and making informed strategic decisions is a marketing practice that worked well for Tesco.  This summary reinforces the “mindreader” approach marketers and public relations specialists strive for in generating valuable results.

Jeff Sanchez

Scoring Points describes a successful marketing initiative based on loyalty using the Tesco Clubcard as a case study. Although this particular summary is very retail specific, it gives an in-depth look at the triumph of this Clubcard, how to launch such a plan and the data received from this initiative. Tesco recognized the needs of their customers and continue to expand this plan as buying needs change, such as their Internet grocery shopping and changing offers for their customers.

Joanna McKeon

Scoring Points was an eye-opening summary for me.  As a former retail associate, I am overly familiar with pitching the customer benefits of loyalty programs, but never before had I considered the magnitude of the program’s benefits on the side of the retailer.  This summary follows the story of Tesco, the United Kingdom’s most successful grocery retailer, and their path to becoming the “undisputed leader” of Great Britain’s grocery chain.  After introducing the Clubcard loyalty program, Tesco quickly benefited.  To me, the most outstanding profit came in the form of analysis.  The information gained from a loyalty program like Tesco’s is invaluable.  For example, they were able to add over 7,000 local products by learning where shoppers preferred locally produced alternatives.  Specific knowledge like this ultimately provided a win-win situation for Tesco.  Customers were happy and Tesco was better off for it, always looking for new opportunities to expand and improve.

Kathryn Regina

Even though the phrase “customer loyalty” is used in the subhead of this summary, it’s basically just about retailer discount cards.  But even though it’s mostly geared to commodity-based retailers, it does have some concepts that could be valuable to any business. What I found most interesting was that loyalty programs make it possible to gather specific information about customers and give you the ability to mass-customize marketing communications, analyze buying behavior, customize offers and track overall trends. In fact, a loyalty program may not even increase “loyalty” per se. But by tracking customer data, loyalty programs can increase sales and streamline marketing. Electronic publications offer some of the same advantages. It’s always interesting when marketing does something different than what it seems like it’s meant to do. Sneaky marketing.

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PROBLEM: So many great business books. So little time. SOLUTION: Read Less. Learn More. Subscribe to Soundview Executive Book Summaries!

December 18, 2007 in Brand enhancement, Building Customer Intuition, Corporate newsletter, Educating Clients, email tracking, Freelance newsletter, how to publish and promote online, how to write a newsletter, Interactive Marketing, Newsletter complete outsourcing, newsletter layout, Newsletter ROI, Newsletter solution, outsource magazine, prospect newsletter, sample newsletter, self publish, Thought leadership newsletter, writing magazine | Permalink | Comments (3) | TrackBack

Blockbuster Teams

Posted on December 06, 2007 by Kathryn Regina.

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According to the book Blockbusters, it’s a company’s innovative product—not it’s price point, customer service or depreciation schedule—that creates value for customers. To discover the key practices required for developing “blockbuster” products, authors Gary S. Lynn, Ph.D. and Richard R. Reilly, Ph.D., conducted a two year study of “blockbuster” product development teams. Here’s what we thought of their findings:

 

Kathy:

Out of the five “best practices” for new product development, I thought the most interesting one was that successful teams always have senior management that is “intimately involved” with the project. This seems to run contrary to most management situations. It also raises the question as to how these managers have time to be both teammates and management. Nevertheless, the authors insist that “coming up with the ‘big idea’ is only the beginning,” and that when management merely pops in once in a while to check in on things it’s not only unhelpful, it often results in “hit and run” accidents. The authors observed that in successful teams, senior management played one of three roles: project leader, technical guru or coach.

Jeff:

The authors’ observation that successful teams were “not especially concerned about building friendships or even insisting that everyone like each other,” adds a harsh robotic-like element to what is otherwise a set of reasonable best practices. However, upon closer examination it seems like what the authors really observed from the successful teams was that friendships aren’t all that’s needed for a strong team, and that strong teams can exist even if not everyone gets along. That’s a lot different than saying that in order to be successful you have to be unconcerned about building friendships. Because that just sounds creepy, to be honest.

Kevin:

Keep it open.  Keep it clear.  Keep it consistent.  That seems to be the lesson from the book summary, “Blockbusters,”  which identifies the five necessary steps to lead a product development team.  When I say keep it open, I mean lines of communication, ideas and focus must be open to all possibilities.  It never serves people well to be forced down one unwavering path.  It is important to be clear about what your product is, what the competition provides, who your audience is and who your competitors are.  A clear idea of this allows the unique and alluring elements of your product strategy to flourish.  Lastly, maintaining consistent communication and problem-solving techniques between developers, managers and decision makers discourages the occurrence of mistakes, unfavorable relationships and unwanted surprises.

Joanna:

By reading specific accounts of real-life company sagas, it becomes clear that Lynn and Reilly's "5 keys to developing great new products" are vital steps to becoming successful.  The summary highlights Iomega's trip to success and teaches the reader that all 5 rules (Commitment of Senior Management, Clear and Stable Vision, Improvisation, Information Exchange, and Collaboration Under Pressure) are not simply step-by-step suggestions.  Rather, all 5 must be used tgether from start to finish in a balanced collaberation between all departments of the company.

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December 6, 2007 in award winning design, award winning magazine, award winning newsletter, Blogs, build credibility, business credibility, Business editorial, business magazine, Business Marketing, Business newsletter, Business publications, company magazine, company newsletter, Company newsletters, Company publication, corporate magazine, Corporate newsletter, Corporate publications | Permalink | Comments (2) | TrackBack

But what if I just want a snack?

Posted on November 02, 2007 by Sarah Eaton.

Keith Ferrazzi (with Tahl Raz) wrote Never Eat Alone.  And now he writes a blog that continues what he started, aptly titled Never Eat Along blog.

We read the Executive Summary of the book, so here are the team's thoughts:

Kevin Grant

I felt that this summary had some real substance.  We are all conscious of the importance of networking, but it can feel forced, uncomfortable or awkward.  This summary provides some interesting ideas: Define what you want to achieve, identify those who can help you along with you helping them, be transparent.  It also prepares the reader to be in control of your attitude when speaking to people.  The key part of this is communicating your unique value and expressing it in a sincere manner.  The summary also warns of resisting hubris and not becoming a “network jerk.”  This is one of the more valuable summaries we’ve read.

Kathryn Regina

Networking is possibly the best way to advance your career, and it should start before you’re unemployed—as this summary wisely suggests. It’s actually full of helpful “networking” hints but it unfortunately comes at the cost of trite phrases (“You can’t get there alone. We’re all in this together.”), and some heartless-sounding advice. For example, “It can be difficult to reach important people these days. So make their gatekeepers your allies. Acknowledge their help and thank them tangibly, with a phone call or a note.” Translation: schmooze the secretary. Also, “If you mix professional contacts and personal friends at a fun dinner, it’s like cloning yourself.” That sounds scary and robotic. Not good.

Joanna McKeon

Keith Ferrazi is a font of knowledge when it comes to networking.  In his book Never Eat Alone, he advises his readers on how to "climb the ladder to personal success" by creating alliances.   Though Ferrazi's tips are probably geared towards an older, more experienced audience, I, merely a recent college grad, found the advice to be useful too.  The author's guidelines to becoming part of a valuable network run the gamut.  They include everything from making a list of goals and of people you'd like to meet, to hosting a dinner party for potential network "members.”  While all of these suggestions would require nerves of steel and a more-than-flexible schedule, the overall message is clear: Give and you shall receive.

Jeff Sanchez

Never Eat Alone is focused on obtaining relationships in your life that will contribute to your personal success. I think this summary stresses the great importance of how every person you meet can essentially be the one that is responsible for finding that great job or landing you a large client. There are some great tips such as not overdoing it and being the ‘networking jerk’ and showing passion around your interests to let others see that in you. All in all, anyone looking to better their personal and professional relationships should read Never Eat Alone.

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PROBLEM: So many great business books. So little time. SOLUTION: Read Less. Learn More. Subscribe to Soundview Executive Book Summaries!

November 2, 2007 in Brand enhancement, Building Customer Intuition, Corporate newsletter, Educating Clients, email tracking, Freelance newsletter, how to publish and promote online, how to write a newsletter, Interactive Marketing, Newsletter complete outsourcing, newsletter layout, Newsletter ROI, Newsletter solution, outsource magazine, prospect newsletter, sample newsletter, self publish, Thought leadership newsletter, writing magazine | Permalink | Comments (0) | TrackBack

Tonight is the night when you become a category of one

Posted on October 26, 2007 by Sarah Eaton.

"Why strive to be a leader in your category when you can create a different category and be the only one in it?"  In this review of the Executive Book Summary, we examine Becoming a Category of One by Joe Calloway.

Joanna McKeon

Individuality is typically one of the most revered characteristics of a person, so it comes as no surprise that companies, too, benefit from developing a unique personality.  In Becoming a Category of One, Joe Calloway emphasizes the importance of finding your company's own niche.  Among his many tips, the author highlights an important lesson: Branding is not as simple as hiring an advertising and design
team.  Your company's brand "resides in the minds of your customers” and represents the ability and willingness of your company to follow through with promises.  Finding your company's own niche would garner positive results, but it demands equal parts belief and drive.

Jeff Sanchez

Becoming a Category of One speaks mostly of companies positioning themselves differently to be more appealing to their customers.  But there are no real outcomes of the summary’s suggestions. It reiterates the importance of customer relationships which practically every Executive Summary touches on, and it lays out strategies and plans without the back-up of concrete examples. It would be more interesting if it included facts and examples that show success.

Kevin Grant

With the reviews of these Executive Book Summaries, I always try communicate the positive overall message.  This review, however, seemed to regurgitate the same three steps: Know what your company is, keep the focus of what your company is, engage people (internally and externally) with that focus.  I completely agree with almost everything the summary offers, but it seems like it only touches the surface and hesitates to engage the reader with specific examples.  The summary is a good place to get your feet wet, but not enough to feed your interest in becoming a category of one.

Kathryn Regina

There seems to be an over-arching problem with business books, in that they often offer platitudes without specific procedures that a company can put to use in a tactical way. This summary shares that problem, but it does have a few useful insights. The point I found most interesting in the summary is the example of how LensCrafters has branded itself as a company and an employer. LensCrafters’ mission statement is “giving the gift of sight to those who have the least and need [LensCrafters] the most.” The idea is that customers see LensCrafters as more than a commodity, and employees feel like they have a purpose beyond a bottom line. I don’t know if LensCrafters has been successful, but that’s a smart strategy for any business.

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PROBLEM: So many great business books. So little time. SOLUTION: Read Less. Learn More. Subscribe to Soundview Executive Book Summaries!

October 26, 2007 in Brand enhancement, Building Customer Intuition, Corporate newsletter, Educating Clients, email tracking, Freelance newsletter, how to publish and promote online, how to write a newsletter, Interactive Marketing, Newsletter complete outsourcing, newsletter layout, Newsletter ROI, Newsletter solution, outsource magazine, prospect newsletter, sample newsletter, self publish, Thought leadership newsletter, writing magazine | Permalink | Comments (0) | TrackBack

The BI Marriage: Accuracy with Strategy

Posted on October 17, 2007 by Kevin G.

I was reading a great article today about setting up a solid BI system for mid-to-large sized companies. 

Garry Garis, author of the article notes, “You do not get a second chance to be wrong and these companies know that their credibility is vital to sustaining customer relationships and ultimately, profitability.”The foundations of a BI system must be solid if anything is able to be built upon it.  The accuracy of information is key. 

Being able to effectively leverage information to make better business decisions is a powerful strategy if done correctly.  Knowing where you get your information, how it is processed and to who it should go to is only half of the battle.  Garis offers some key points on how to ensure you have a solid strategy with your accurate information.

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October 17, 2007 in Brand enhancement, build credibility, Building B2B Relationships, Building Customer Community, Building Customer Intuition, business credibility, Business editorial, business magazine, Business Marketing, Business newsletter, Business publications, Business relationships, company newsletter, company newsletter sample, Company newsletters, Company publication, Corporate Blogging, corporate magazine, Corporate newsletter, Corporate publications | Permalink | Comments (3) | TrackBack

Let Customers In

Posted on October 11, 2007 by Sarah Eaton.

This week, we review the book summary of Outside Innovation by Patricia B. Seybold.

Jeff Sanchez

In Outside Innovation I don’t see what is so ‘groundbreaking’ about creating products/services through the customers’ point of view and adjusting them to meet customers’ needs. I feel it should be a necessary practice to thrive in the consumer market. At any rate, Innovation does give some nice examples with Lego and Threadless.com’s success. Companies are realizing that their own consumers know best about how to make the products their peers want and they’re capitalizing on it. Vans, Converse and other shoe companies are also taking note and letting the consumer take control.

Kevin Grant

This summary, Outside Innovation, discusses how customers should be top in a business’ development team.  After identifying the five customer roles – Lead Customer, Contributor, Consultant, Guide, Promoter – the summary identifies different ways companies can let these innovators have an impact on the present and future.  Much of the summary is powered by the notion that customers are willing to consume products that help reach their goals.  Instead of telling a customer what they want, the winning companies have open sources for comments, critiques and research to identify the main customer goals and how a business can take shape to fit their needs.  By allowing customers to have an impact, future customers see a business as an intuitive element in their lives.

Kathryn Regina

Here’s another book summary about encouraging customer feedback. In the words of the summary, “Outside innovations is a process of engaging directly with lead users and passionate customers to harness and commercialize their ideas and to codesign solutions that will better meet their needs.” An example that the summary gives is Lego’s program that allows customers to design their own Lego characters. Letting your customers lead your product innovation is a good idea—the trick is making it work for your company.

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PROBLEM: So many great business books. So little time. SOLUTION: Read Less. Learn More. Subscribe to Soundview Executive Book Summaries!

October 11, 2007 in Brand enhancement, Building Customer Intuition, Corporate newsletter, Educating Clients, email tracking, Freelance newsletter, how to publish and promote online, how to write a newsletter, Interactive Marketing, Newsletter complete outsourcing, newsletter layout, Newsletter ROI, Newsletter solution, outsource magazine, prospect newsletter, sample newsletter, self publish, Thought leadership newsletter, writing magazine | Permalink | Comments (2) | TrackBack

Digging for Treasure

Posted on September 25, 2007 by Sarah Eaton.

This week, we review the summary of Treasure Hunt: Inside the Mind of the New Consumer by Michael J. Silverstein with John Butman:

Kathryn Regina

The message of this summary—that consumers are now shopping at both low and high end retailers—is nothing new, but it is littered with entertaining examples. The Nelson family, for example, and their decision to buy five televisions for Christmas—one $2,000 TV and four $59 dollar TVs. I also like Jim and Anne Freedman, whose direct mail company went out of business after the anthrax scare from 9/11. Though the concepts are simple and certainly not groundbreaking, the summary manages the narrative arc well.

Jeff Sanchez

Treasure Hunt describes consumers today having a bi-polar approach when it comes to spending. This is obvious with the success of Target, Wal-Mart and similar discount stores--while on the other end we will pay $4.50 every day for a cup of coffee. Although the summary gave a good overview of spending today, they did not really tap into the psychology that influences our spending. Why would a person making $25,000 drive a BMW? It’s about making ourselves feel ‘worth’ something in the process. There are many more factors that persuade our spending.

Kevin Grant

I thought Treasure Hunt was a great piece on critiquing the motivation of the middle class spender--spending-up (picking items of unique value that command a premium price) or spending-down (finding the lowest priced items that fulfill the need).  It was interesting to read how only the middle class flirt with both types and find a harmonious mix to satisfy their needs.  There were ample examples of individuals that identified their spending practices and the notable businesses that grew exponentially from identifying this consumer trend.  The people and businesses that remain in the middle with stubborn spending habits and unwavering business models face the consequence of being left behind.

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What's a tag?

PROBLEM: So many great business books. So little time. SOLUTION: Read Less. Learn More. Subscribe to Soundview Executive Book Summaries!

September 25, 2007 in Brand enhancement, Building Customer Intuition, Corporate newsletter, Educating Clients, email tracking, Freelance newsletter, how to publish and promote online, how to write a newsletter, Interactive Marketing, Newsletter complete outsourcing, newsletter layout, Newsletter ROI, newsletter solutions, outsource magazine, prospect newsletter, sample newsletter, self publish, Thought leadership newsletter, writing magazine | Permalink | Comments (0) | TrackBack

Not my beloved hyphens!

Posted on September 21, 2007 by Sarah Eaton.

In our world of word-squishing (thank you, the Internet), hyphens are gradually dropping off.  The Oxford English Dictionary axed 16,000 hyphens in its latest edition.  Some were rather antiquated (like cry-baby vs. crybaby); some I can't imagine ever using (logjam); some even I didn't realize had hyphens in them (lowlife).

You can read all about it here.

September 21, 2007 in award winning newsletter, Brand enhancement, build credibility, Corporate newsletter, Corporate publications, creating newsletter, how to publish and promote online, how to publish online, how to write and publish a paper, newsletter article, newsletter creation, Newsletter writers | Permalink | Comments (0) | TrackBack

Something Worth Talking About

Posted on September 11, 2007 by Sarah Eaton.

This week's review looks at the Executive Book Summary for Seth Godin's Purple Cow:

Kathryn Regina

The Purple Cow summary takes note of the shift away from advertisement-based marketing towards product-based marketing.  The summary claims that “media that interrupts any form of consumer activity”—i.e. commercials and ads—isn’t working as well as it used to, and that products with “mass appeal” are no longer very successful. To create a Purple Cow product, you must target a niche market. This makes sense with what we believe about customized publications. But apparently an innovative and useful product will sell itself, with the aid of a few enthusiasts? I don’t quite buy it.

Kevin Grant

This review discusses the idea of striving to create uniquely useful products, and advertise and market them in an innovated way.  It stresses the “think outside the box” motivation with creating products and developing strategy around it.  Being fearful of pursuing a “purple cow” is something inherent with larger companies and serves as a great advantage to the smaller risk takers.  This review does not present anything beyond common sense, but it does offer hope to the new, small and innovative companies going against the large conglomerates.

Jeff Sanchez

Godin’s concept of the Purple Cow is very relevant today, but it seems like common sense that consumers will continue to want more innovative products and services. Apple is a prime example with the recent release of the iPhone—an innovative product that had minimal marketing but the hype was unheard in the past for a cell phone. Word of mouth and buzz is what caused the phone to fly off shelves. After the iPhone, of course other cell phone companies will have to step up to the plate. Putting out the most innovative product is what drives the consumer market; label them ‘purple cows’ if you want.

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What's a tag?

PROBLEM: So many great business books. So little time. SOLUTION: Read Less. Learn More. Subscribe to Soundview Executive Book Summaries!

September 11, 2007 in Brand enhancement, Building Customer Intuition, Corporate newsletter, Educating Clients, email tracking, Freelance newsletter, how to publish and promote online, how to write a newsletter, Interactive Marketing, Newsletter complete outsourcing, newsletter layout, Newsletter ROI, Newsletter solution, outsource magazine, prospect newsletter, sample newsletter, self publish, Thought leadership newsletter, writing magazine | Permalink | Comments (0) | TrackBack

WikiReview

Posted on August 17, 2007 by Sarah Eaton.

Actually, it's not really a wikireview, since you don't have the power to edit it.  But it is a review of Wikinomics, by Don Tapscott and Anthony D. Williams.

Fun fact: According to Wikipedia, "wiki" is a Hawaiian-language word for fast.

Jeff Sanchez

The Wikonomics summary was dry to say the least. It rambled on about the Internet providing an age of networking and unprecedented business collaborations for profitability in this new Net Gen era. I think everyone already understands that the Internet is changing the way businesses are run, creating an increased way of social networking and empowering the consumer. It didn’t strike much of a chord for me and I feel this networking era has been more of an organic process. We will continue to develop our collaborative habits in response to our continually changing needs.

Kevin Grant

I like how this summary introduces new possibilities of sharing information and ideas on a global business scale.  Being of the Generation Y demographic, I feel accustomed to information shared and utilized in doing research, solving problems and managing my daily life.  Having access to sites like Wikipedia is more a convenience than a breakthrough.  But I only approach my competence of sharing on a personal level.  This summary expands the use of sharing to bigger entities like the existence of ideagoras--groups of uniquely qualified individuals offering their expertise to solve big business problems.  The summary effectively communicates the imminent need for businesses to adopt a wikinomic approach to their business model.  Expect it to be the norm in the near future.

Kathryn Regina

Even though this book summary beats the word “collaboration” into the ground, it does offer a few concrete examples of the advantages of online collaboration for businesses. The most interesting to me was the “Ideagoras” section. It features an e-business venture called InnoCentive (launched by Eli Lilly), which allows large pharmaceutical companies to “tap the talents of a global, scientific community without having to employ everybody full time. The authors call these marketplaces ideagoras, much like the bustling agoras that sprang up in the heart of ancient Athens to facilitate politics and commerce.”

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August 17, 2007 in Brand enhancement, Building Customer Intuition, Corporate newsletter, Educating Clients, email tracking, Freelance newsletter, how to publish and promote online, how to write a newsletter, Interactive Marketing, Newsletter complete outsourcing, newsletter layout, Newsletter ROI, Newsletter solution, outsource magazine, prospect newsletter, sample newsletter, self publish, Thought leadership newsletter, writing magazine | Permalink | Comments (0) | TrackBack