Reading Time: 2 min When making any kind of financial decision, it can be interesting to look at the “expected value” of whatever you’re looking to buy. This can work particularly well for things like raffles and your sales. Raffles With a raffle it’s pretty simple. If you have a 1/100 chance of winning a $500 prize, the expected […]
Business
Follow-up is crucial
Reading Time: 3 min A few years ago, we were all working in our office when a local company stopped by with a box of bagels and coffee for us. We didn’t know them, but they were reaching out to local marketing companies to let people know they exist (they were photographers, so potentially a good partner). They seemed […]
Be predictable, not polite
Reading Time: 2 min When you’re driving a car, the best thing you can do is to be predictable with your actions. If others know what you plan to do next, the odds of staying safe remain quite high. Conversely, if you do unpredictable things, even with good intentions, things can go wrong quickly. As a quick example, see […]
Predicting rain doesn’t count
Reading Time: < 1 min If you’re a weatherman, the ability to predict the rain is important. For the rest of us, the actions we take once we know it’s going to rain are really what matters. As Warren Buffet has said: Predicting rain doesn’t count. Building arks does. The Nintendo Wii Back in early 2012, I remember a quiet […]
Perceived value is all that matters
Reading Time: < 1 min When trying to sell your product or service, the value that it provides to your customer is essential. The problem is that the true value is largely irrelevant — it’s all about the value that your customer perceives. The idea of Exchange Theory is that the perceived value of an item must be more than […]
That’s not my job
Reading Time: 2 min A few weeks ago, we bought a Jeep Grand Cherokee for my wife. It’s an excellent vehicle, but I noticed something interesting during the sales process. At one point they made a small financial miscalculation, but the finance manager ate the difference to make sure they stood by their word, which was appreciated. That was […]
There is no magic bullet for your business
Reading Time: < 1 min As much as we want there to be one, there is no magic bullet for your business to make it succeed. The desire for one is what leads to all of the MLMs and online marketing sages that can give you “the secret” for just $299. A great example of that is this video from […]
Show people their super power
Reading Time: < 1 min In his book “Nothing you don’t already know“, author Alexander den Heijer shares a simple but powerful statement: You don’t inspire people by revealing your super powers; you inspire people by helping them reveal their own super powers. This applies to inspiration, but I also think it can apply to your website and marketing. As […]
Problems come from ignored complaints
Reading Time: < 1 min Businesses hate to see complaints, and we all know that. You work hard to put something out into the world, and then someone reaches out to explain why they don’t like it. As bad as a complaint may feel, though, ignoring it could be far worse. As Nico De Bruyn said in We’re All Marketers: […]
Email “thanks” versus a Slack emoji
Reading Time: < 1 min I recently heard an argument that email should continue to fade away in lieu of apps like Slack, which make for much more seamless communication. It’s a good consideration. However, part of his argument related to acknowledging receipt of a message or small task. If you send someone an email with info, they’ll often reply […]