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New Year's Resolutions For My Business
By Louren O'Connell
You already know the drill for New Year's Resolutions: on January 1, we decide that absolutely, positively THIS is the year we'll give up all those bad habits that are dragging us down. Then along about January 4, after eating more carrots than Bugs Bunny, we pass Krispy Kreme when the “Hot” sign is on and, bang!, another resolution bites the dust.
So, in the spirit of making resolutions that really will make us richer and better-looking (money and success always make a person better looking), I'm submitting a list of resolutions all we marketers should make - and keep! Here goes:
This year I will clearly define our goals for marketing and how we will help drive growth and profits for the company, and get management buy-in. I will be a strong leader - and keep my team focused on meeting and exceeding these goals.
I'm going to use my database to accomplish these goals - really - and not get caught up in analysis paralysis. So what that I can't get an accurate handle on lifetime value? Those numbers will come. For right now, I'm going to take one day, multiple projects, at a time.
I am not going to let anyone else - especially back office functions (sorry, Accounting) eat up my resource time in the database. It is not a billing system or report generator. It is a tool that tells me about our clients to help us identify and communicate more effectively with customers and prospects, and I can't use it effectively if it's co-opted for other functions.
This is the year that I'm going to get my database cleaned up, no matter what. I realize that if we don't clean it up and keep it clean, then we'll be in the same pickle, making the same resolution, next year. So we're going to correct misspellings, update titles, change the addresses of companies who've moved, delete bad entries, and generally fix the problems that cost us money and tick off our customers. I will not fixate on perfection, but I will put my most compulsive team member in charge of database maintenance.
I'm going to understand who my best customers are - really - not just the ones who are in my face all the time. I'm going to have firmographic information appended to my file so I can have a clearer picture of where my profits, opportunities and referrals are coming from.
I will focus on perfection, however, when I send direct mail or email to my customers. I will address them by name - spelled correctly! - and let them know how grateful we are for their business.
I'm not going to give my best offers/pricing/value to my prospects. I'm going to save those for my best or almost best customers to protect them from predatory competitors and make them fiercely loyal to my company.
I will stop treating everybody the same. I will focus the lion's share of resources - time and budget - on growing customers with the highest potential, those in the second tier who have both the capacity and the means to spend more with my company. I will still provide great service to our low-value, low-potential customers but not invest any more resources in making them happy.
I'm going to start to understand - through testing - how to motivate my customers to buy more and more often. I will only test ideas that can have a big impact on results (if rolled out) and structure the tests so results can be measured reliably.
I will ask my best customers for referrals, realizing that a satisfied, high-value customer is my greatest asset, and best advertising.
I will do my internal PR. I will communicate better within my own company - sales, finance, customer service, and management - so that they understand what we're doing and what we've done, and how it helps them reach their personal goals and the company reach its' goals.
I will communicate more - listen and speak - with my outside team - my agency, database company, call center, and all the people who support me - so they can do a better job.
I will make “thank you” a regular part of my vocabulary - especially if I'm not feeling particularly grateful at the moment!
I am going to have fun. I will approach marketing with a spirit of adventure, realizing that I will learn some things that are unpleasant and even be proved wrong sometimes but that, overall, the more objective I am, the more successful I will be. I will remember the difference between marketing and brain surgery and I will laugh - and encourage my team to laugh - as much as possible.
Lauren O'Connell is President of O'Connell Consulting Group. She is committed to providing her clients with practical solutions to help them acquire, up sell and keep their best customers. She can be reached at lauren@oconnellconsultinggroup.com. And 303-795-3539.
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