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Strategy

What’s the SAVE marketing mix?

April 24, 2024

The SAVE marketing mix is a modern adaptation of the traditional 4P’s (Product, Price, Place, Promotion) framework, tailored to align with the evolving business landscape and consumer behavior. SAVE stands for Solution, Access, Value, and Education¹. Here’s a concise explanation of each component and why it’s beneficial:

Solution over Product: This shift emphasizes solving customer problems rather than just selling products. It encourages businesses to focus on the benefits and outcomes that their offerings can deliver, which is more aligned with customer needs and can lead to stronger customer relationships.

Access over Place: In the digital age, physical location is less critical than ensuring customers can access products and services whenever and wherever they prefer. This component recognizes the importance of omnichannel presence and the convenience of digital platforms, enhancing customer satisfaction and reach.

Value over Price: Instead of competing on price alone, SAVE highlights the importance of delivering superior value. This could be through quality, customer service, or brand experience. By focusing on value, companies can differentiate themselves in a crowded market and foster customer loyalty.

Education over Promotion: Traditional promotion is often one-way communication. In contrast, education involves engaging with customers, understanding their needs, and providing valuable information. This approach builds trust and positions a company as a thought leader in its industry.

The SAVE framework is good because it’s customer-centric and adaptable to the modern market. It acknowledges that consumers are more informed and less brand loyal, requiring businesses to employ creative solutions and build high-value interactions. By leveraging social media and content creation, SAVE facilitates the development of long-term customer relationships and aligns marketing strategies with current market realities¹. This approach is particularly effective in today’s environment, where the internet has transformed global markets and consumer expectations.

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Filed Under: Strategy

Why it’s so important to discover what you’re really, really good at

April 16, 2024

The Key to Success: Uncovering Your Unique Strengths in Business

In the dynamic world of business, understanding and leveraging your unique strengths is not just beneficial; it’s essential for success. This self-awareness serves as a compass, guiding entrepreneurs and professionals alike towards roles and strategies where they can shine brightest.

Why is this self-discovery so crucial?

Firstly, it fosters excellence. When individuals engage in tasks that align with their innate talents, they are more likely to excel. This excellence is not just about outperforming competitors; it’s about reaching one’s highest potential. It leads to better job satisfaction, higher quality work, and, ultimately, a stronger reputation in the industry.

Secondly, it enhances efficiency. Knowing your strengths allows you to tackle tasks more effectively, saving time and resources. It also helps in delegating or outsourcing activities that fall outside your skill set, ensuring that every aspect of the business operates at peak performance.

Thirdly, it cultivates innovation. When you’re working within your area of expertise, creativity flows more freely. This can lead to innovative solutions and services, setting your business apart in a crowded marketplace.

Moreover, it aids in strategic planning. Understanding what you’re good at helps in setting realistic goals and crafting strategies that play to your strengths. It’s about making informed decisions that propel the business forward based on what you know you can deliver exceptionally well.

Lastly, it contributes to brand identity. Businesses often reflect the strengths and passions of their leaders. By embracing what you’re good at, you create a brand that’s authentic and resonant, which can attract customers, partners, and employees who share or value your strengths.

Identifying and harnessing your unique strengths is not just a path to personal fulfillment; it’s a strategic move in business. It’s about placing the right people in the right roles, creating a culture of excellence, and carving out a niche where your business can not only survive but thrive. So, take the time to reflect, assess, and embrace your strengths. Your business—and your sense of accomplishment—will be all the better for it.

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Filed Under: Governance, Management, Strategy

The Virtual Marketing Manager – how a marketing consultant brings you more sales

March 11, 2021

Tons of small businesses neglect their marketing. They know they should do it but more pressing issues keep them from getting to it. No surprise that

  • The last company blog was months ago, the customer newsletter is late or never goes out at all,
  • The company’s signage and customer experience looks tired,
  • Customers looking online for what the business offers don’t see it appearing at or near the top of search hits,
  • Leads don’t come to you, you have to go out and get them,
  • Sales aren’t growing as they should be…

It’s tough keeping up your marketing when there are more pressing things to deal with in the business. Marketing is one of those things that is easy to put off but over time it catches up with you.

Marketing is about focusing on understanding the marketplace, the competition, and the customers’ desires and pain points.

Typically, marketing is about:

  • The future and deciding where to go next
  • Concentrating on differentiation and offerings that are unique enough to give your business a long term competitive advantage
  • Working on
    • growing brand awareness,
    • attracting prospects and
    • moving people into the sales funnel

Marketing is characterized by:

  • Research
  • Mapping strategy
  • Analyzing data
  • Developing performance measures
  • Setting up systems
  • Watching trends
  • Changing tactics as required
  • Developing and leveraging marketing assets
  • Thinking about long term objectives

Sales is not the same as marketing. They require quite different kinds of people. What makes for a good sales professional contradicts with what makes for a great marketing professional.

Sales professionals are driven by:

  • The short term
  • Converting the lead in front of them into a sale, and then moving on as quickly as possible
  • Looking for and closing the deal

Having access to a Virtual Marketing Manager can be a big benefit for a small business.

Most can’t afford an experienced, knowledgeable Marketing Manager on a full-time basis and may never consider hiring one.

That’s a problem because many small businesses fail within the first three years.

Reasons include

  • Failure to set themselves apart from the competition
  • Inability to find a profitable business model
  • Ineffectively building awareness amongst potential customers
  • Not maintaining customer service standards

A Virtual Marketing Manager is an affordable alternative to hiring a full-time Marketing Manager and can make a big difference to a small business by:

  • Helping to clearly define the key benefit that sets a business apart
  • Exploiting this key benefit through the company’s communications
  • Ensuring that the company is regularly communicating with its important audiences
  • Building inbound sales leads through its websites and other marketing assets
  • Ensuring marketing investments are achieving tangible returns

The nature of SMB marketing means that you probably don’t need a full-time marketing manager.

A virtual marketing manager lets you get the benefits of a senior marketing manager without having to establish a full-time position.

A good virtual marketing manager can let the business owner carry on with running the business without distraction while building demand for its products and services.

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Filed Under: Customer service, Management, Opinion, Strategy, Uncategorized Tagged With: Copy writing, Marketing Consultant, Virtual Marketing Manager, Website maintenance

Operating in the midst of uncertainty

June 10, 2020

The most common reaction I’ve had over the last few weeks when management have been asked to come up with a plan is: What’s the use? Who knows how things will play out?

In fact, taking control of the situation in the midst of uncertainty is possible.

The answer is to put a plan together for the worst case, best case and most-likely scenarios.

For example, here in NZ, the main uncertainty factors were:

  • Movement of people
  • Movement of freight
  • Gatherings of people within New Zealand
  • What is classified as an essential service
  • Whether an effective vaccine or treatment can be developed.

A best case scenario back in mid-March 2020 might look like:

L4 Lockdown might go for 8 weeks.  L1 after 16 weeks. 18 months to develop an effective vaccine and /or effective treatment. International travel will require mandatory two week quarantine or self-isolation at each border for 18 months.    Supply chains will be delayed for 8 weeks as factories closed all over the world.

A worst case scenario in mid-March 2020 might look like:

L4 Lockdown for 16 weeks.  L1 after 32 weeks.  An effective vaccine and/or treatment is never developed.  International travel will require mandatory two week quarantine or self-isolation at each border for 36 months.  International movement of goods not disrupted. Supply chains will be delayed by 16 weeks as factories all over the world closed.

Most likely case scenario back in mid-March 2020 might look like:  

L4 Lockdown for 10 weeks.  L1 after 20 weeks.  An effective vaccine and/or treatment is developed 36 months.  International travel will require mandatory two week quarantine or self-isolation on arrival in any country for 24 months.  International movement of goods not disrupted. Supply chains will be delayed by 12 weeks as factories all over the world closed.

The impact of each of these scenarios will differ depending on the nature of your business, organisation and industry.  

Post-lockdown what are the key factors that will affect your business?

International travel restrictions will continue to impact any business that relies on international travellers.  Given the above scenarios, some businesses are going to have to either find alternative revenues, reduce overheads and perhaps even put their businesses into hibernation, and hope to resurrect them again as international travel resumes. 

Businesses starved of revenue will struggle to pay their rent, staff and suppliers.  Some businesses will be caught short at both ends, with suppliers demanding payment and customers being slow to pay or even defaulting on their payments.  

It can all seem overwhelming.

We can help with the heavy lifting:

  • Putting a plan together
  • Negotiating with landlords, suppliers and customers
  • Tracking cash flow
  • Arranging finance

Government assistance can be provided to fund these services.

The faster you have a sense of what to do, the quicker the uncertainty goes away.

 

 

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Filed Under: Governance, Management, Strategy

Leadership styles: Which is best? | Kan & Company

August 28, 2017

One day, a budget was put forward to a board for approval by the CEO.  The sales forecast was discussed and the board asked for the Sales and Marketing Manager to give a presentation on how it was developed and to discuss the assumptions he used.

During the discussion, the manager was unable to answer the board’s questions and in the end he admitted that he had had no hand in developing the forecast.  The CEO was embarrassed and angry with his manager.  Wow, awkward.

I believe that no one leadership style fits every situation.

Different styles are often categorized in many ways but ultimately they are variations of just two:  the Autocratic and Participative styles.

The Autocratic Style of Leadership

In my experience, the Autocratic style works best in situations where there is little time for consultation and the leader is of unusual ability.

The greater the ability of autocratic leaders, the more inclined those leaders are to rely on their own judgement.

The downsides are numerous:  often those leaders over-estimate their own abilities; or they often do not nurture new leadership underneath them and so when they move on, they leave a significant succession problem for those who are left behind.

Autocrats can and often are, successful

An unusually charismatic autocratic leader can be exceptional in their ability to make an organisation perform.  They may be able to achieve it for several years, even decades.

Nonetheless they create significant risks for their organisations.  They can’t avoid the succession problem.  No one can avoid the risk of departing for a bigger better appointment or even death.

Nor can they avoid the leadership vacuum they create underneath them.  Anyone of ability will not stand for being repressed for too long.  Their spirit is either snuffed out or they leave.

The Participative Style of Leadership

A participative style of leadership is difficult to achieve.  It requires individuals of not just unusual ability but also unusual maturity.

Participative leaders need to have unusual maturity because they are comfortable with the idea that not all good ideas must come from them.

They are willing to hire staff that have greater ability than them, yet they are directive and forthright enough to sense when discussion has run its course and its time to synthesise a plan.

The participative style recognizes a long game

Yet the participative style recognizes that there is a long game.  A long game that involves nurturing staff to become leaders of their respective areas of responsibility.  The style involves giving team members the confidence to exercise initiative, express their opinions and to become leaders that nurture another layer of leadership under them.

The long game is often overlooked because so many people subscribe to the view that broad experience is what must be sought, so up and coming executives are unwisely advised to move on every 2-3 years.

Such thinking promotes short term thinking.  It creates acute pressure to get quick results, so that another proverbial notch can be quickly added to one’s belt,  strengthening a CV or resume for the next job application.

Participation creates engagement

The participative style of leadership encourages engagement, rewards creating a safe environment where team members can not only perform but thrive.  It isn’t for everyone.  It takes time to learn how to nurture rather than just pull rank.

It takes time to learn how to give people confidence that their opinions matter and will be respected, even if those opinions are mistaken.

It takes patience to tolerate mistakes while yet being committed to effective performance management.  It takes time to learn to be patient and to really listen.

Participation and indecision

Sometimes detractors of the participative style mistake consultation with indecision and weakness.  Some team members can’t handle being given the opportunity to speak because they are too used to being told what to do.

Being given the opportunity to offer their opinions makes them feel pressured, they may even think the opportunity to speak is a trap to embarrass them in case they don’t come up with the “right answer.”

Attempting a participative style of leadership will therefore require some perseverence and specific actions to nurture confidence amongst such team members.

The Participative Style is not Democracy

Don’t mistake the participative style with democracy.  You could try it that way, but business shouldn’t be politics.  Decisions should be based on the merits of each business case.

Democracy leads to popularity contests.  I can’t imagine a more nightmarish scenario.

Respect comes not from enlisting support but from respecting individual input from team members, efficiently forming a way forward and being decisive.

However, poor leaders sometimes do hide behind a participative style because they lack the courage to make a decision.  If you can see that in yourself, start working on overcoming this weakness straight away.

Indecision has to be one of the most prominent reasons for business failure.  The cost of indecision is high.   If you don’t make decisions, someone else, probably a competitor, will make them for you.

The Autocratic Style or the Participative Style?

The difference between the Autocratic Style and the Participative Style is in how you get to that decision.  But both must result in a decision.

I used to play field hockey.  I once played in a test between Australian Universities and New Zealand Universities.  The Australian side was loaded with players from their national side.  Our wiley coach realized that, and even though we aspired to play a style that required high skill levels, he knew this side was of a standard few of us will have encountered before.

We usually played a 5-3-2 formation; 5 forwards, 3 mid-fielders and 2-full backs.  In the changing rooms before the game, our coach knelt on the floor, pulled out a set of checkers and explained a new formation to us.

The forwards would become mid-fielders and would spend the entire game man-on-man marking their Australian counterparts.  The three conventional mid-fielders would become our forwards.  The full backs would remain in their usual positions.

The Australian forwards immediately began trying lose their markers.  They ran all over the field and it was frenetic chaos.  I could hear people trying to figure out what formation each team was using because the only sense was that we followed our mark no matter what.

It totally disrupted the Australians as they focused on losing their markers rather than playing hockey.  And despite the odds we won 4-3.

Our coach was wise enough to change his game based on the abilities of his team.  In choosing between the Participative or Autocratic leadership styles, realistically assess the abilities of your team.

You may have inherited it from an Autocrat and so your team’s communication skills and the mindsets of your team aren’t up to performing within a participative style of leadership.

You may have to work out a plan on how to get them into the shape you need to work within a participative leadership style.  Some may never be able to change and you will have to decide whether to keep them.

It’s not easy to change styles.  It’s probably easier to move from a participative style to an autocratic one.  Each has their strengths but whatever style you adopt, be aware of its weaknesses.

The participative style relies on an inherent belief:  That all organisations are greater than the sum of their individual parts.

 

Autocratic Style Participative Style
Strength

  • Prominent figurehead
  • Allows leaders with exceptional ability to shine unhindered
  • Great where decisions must be made in haste
  • Doesn’t require a leader with exceptional people skills or maturity
  • Can be effective in a crisis
  • Useful where the leader has more knowledge and expertise about the problem in hand
Strength

  • Nurtures new leaders, reducing the severity of a succession problem
  • Creates a greater sense of inclusion, trust and loyalty
  • Establishes buy-in as part of the decision making process
  • Brings out more rounded solutions as diverse perspectives are taken into consideration
  • Develops, over time, better communication skills across the team
Weakness

  • Creates succession problems
  • Less likely to result in well-rounded solutions
  • Relies heavily on the judgement of one person to succeed
  • Advancement through the organisation might reward obsequious managers
Weakness

  • May take longer to reach a decision
  • Managers that lack leadership qualities may hide behind a participative process and use it to avoid responsibility
  • Not all team members respond to a participative style, they prefer “being told what to do”, they might find discussion threatening
  • Requires leaders with well developed communication skills and unusual maturity

 

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Filed Under: Strategy Tagged With: Leadership, Succession, Teams

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