This Is Not a Recession

·       What happens if we think of our current economic crisis as a recession. Instead of, thinking of it as a recalibration.

o   Everything is different now.

·       If you think of it as a recession, you may be tempted to "hunker down" and wait for the economy to cycle back.
If you think of it as a recalibration, you will be motivated to focus on what you have to do differently,
since everything is different now.

·       The way your business generates results is different, now.

o   Your customers think differently, now.

o   Your customers care about different things, now.

o   Your customers act differently, now.

o   Your customers may actually be different people, now.

·       Customers aren't disposable anymore; now, more than ever, we have to create and nurture sustainable relationships.

·       Everything is different now.

·       I'm posting this on Feb 2, 2010. One thing I am convinced of is that the world I am working in today is different from any world I have ever done business in. The world has been reset. We can no longer look at the "LY" column on reports to use last year as a benchmark for what will happen this year.

Good Nurturing

Jim

The president of Harley Davidson actually once said that “true customer loyalty was proven when one tattooed the HD logo on one’s head.”

CRM magazine says the loyalty / defection switch is on high alert.

Companies that get it right in economic earthquakes create their own upturn. [See October 2009’s The Tipping Point.] They identify the business opportunities that exist, based on an understanding of what their customers want now. They also stay abreast of evolving customer attitudes—an effort that requires a continuous process. One snapshot of that process, as it began to evolve in 2009, can be seen in the results of an Accenture survey of 5,600 customers across 14 countries. 

Nearly half (48 percent) of customers began to look for better deals or to better understand their purchase options, and they indicated that they felt more empowered to act on what they learned and to change their spending patterns and sources. 

The trend toward switching seems likely to continue. Globally, the percentage of respondents who reported they were thinking about switching providers in the next six to 12 months was consistent with past switching behavior. Additionally, 31 percent said they may buy fewer products or services from their providers and 13 percent said they may exit a category altogether. 

What’s contributing to this lack of allegiance? The survey suggests customers have become highly price-sensitive, and that price and value are likely to dictate their behavior. Customers are placing a premium on “getting value for their money,” and many don’t believe they are.

So how can companies differentiate themselves to attract the business of today’s customers? By being-there, earning customers’ trust while serving up quality products and service options, offering convenience, always delivering reliable, responsive customer service and proactively nurturing and helping customers succeed. 

Moreover, companies determine their destiny in their response to today’s economic challenges. Those that panic and batten down the hatches in preparation for the worst are likely to experience just that. Those that take thoughtful steps to understand what their customers want and make adjustments to capitalize on the bright spots are more likely to excel. More important, making selective and intelligent investments during the downturn can improve any company’s position, regardless of what lies ahead.  

In 2009 nearly half (48 percent) of customers began to look for better deals or to better understand their purchase options, and they indicated that they felt more empowered to act on what they learned and to change their spending patterns. 

Additionally, the survey found only limited customer loyalty. Two out of five surveyed said they were very satisfied with their providers, but only about one in four said they felt very loyal, despite the strong satisfaction responses. In other words, while satisfaction is important, it’s not necessarily an indicator of loyalty. 

People were very willing to explore provider alternatives, and the inconvenience associated with changing providers dissuaded only one in four consumers.

In fact, nearly 70 percent of consumers said they had already changed their mix of providers, either switching entirely or shifting some business to new providers, in at least one industry category in the previous six to 12 months.

Shifts like these demand immediate attention to the actual steps you are taking to make indelible relationships across all constituencies.

That’s my take, what’s yours?

Good Nurturing

Jim

"Know your customer" isn't just industry jargon. 2010 is the year to get up close and personal with your clients.

The work you do when you spread the word or run an ad or invent a strategy is likely aimed at one of these four groups.

• Strangers are customers to be, but not yet
• Critics are those that would speak ill of you, or need to be converted
• Friends are those that might have given permission, or even buy now and then
• Fans are members of your tribe, supporters and insiders

You already know the truth: can't please all these groups at once.

Thanks again to guru Seth Godin for this morning’s wake up call. In this daily blog posting he reminded me again of why I am writing this journal in the first place.

I am seeking the natural members of the nurturing style of relationships cultivation tribe. I am as much seeking your thoughts and insights on the nurture concept as I am in recording my own perspectives in this journey.

Good Nurturing

Jim

Industry Professionals Can't Get By on Blog Posts Alone

Published: Jan 28, 2009

Since it's the season of rethinking, I thought I’d drop a little knowledge on you. While you've been running yourself ragged going to conferences, socializing in social media and just trying to hang on, you may have missed these titles.

Good Nurturing

Jim

Thought for today from Steven Covey’s book, “7 Habits of Highly Effective People”, “Sometimes be there with something in your hand rather than always just there with your hand out”

Wouldn’t it be great if your sales people (revenue producers) could just turn on their computer, make a few clicks, and create a personalized, client-focused, stay in touch campaign in minutes? And what if the computer automatically formatted the documents to comply with your corporate style guide whether postal or eMail?
Most sales people would love to have access to such a system. Well, your magic in a drip-irrigation hose is here.
Virtually all CRM solutions today, ranging from Avidian for Outlook ™ all the way to Microsoft Dynamics, have unique software solutions embedded as applications that accelerates the production and management of persuasive, personalized follow-up campaigns, intelligent inquiry responses, video and live presentations, case studies and related educational documents. A solid and sustainable fix for follow-up failure. As you might imagine, sales people and your bottom line loves it. For specific guidance contact me personally at jim@nurtureinstitute.com .

BTW: In the interest of absolute transparency, the Nurture Institute sells no CRM software. We help clients with their strategic, creative and implementation of unique go-to-market, totally custom, Nurture campaigns. Our technology group, headed by co-founder, Eric Rabinowitz, designs unique nurturing technology features such as www.emailassistant.com and Dimensional eMail™, that are easily integrated into virtually any system.

Selling and marketing pros have long known the power of repetition and now, at last, comes the technology to automate the process.

Good Nurturing in February

Jim

Thought for today from Steven Covey’s “7 Habits of Highly Effective People” “Sometimes be there with something in your hand rather than always just there with your hand out”

Making art

“My definition of art contains three elements:

1. Art is made by a human being.
2. Art is created to have an impact, to change someone else.
3. Art is a gift. You can sell the souvenir, the canvas, the recording... but the idea itself is free, and the generosity is a critical part of making art.

By my definition, most art has nothing to do with oil paint or marble. Art is what we we're doing when we do our best work.”

Seth Godin Blog 1,25,2010

My hero, Dan Zadra, of Compendium, Inc., has tought more people about the nature of nurturing than anyone I know. He went beyond teaching the philosophy of putting your heart in to the business and sharing your passions, beliefs and commitments to the creation of actual tools to dimensionalize your communications.  Great enclosures for messages that matter and contacts that count. Check them out next time you are searching for just the right touch.  
Inspired Nurturing. Jim  

Work Inspired

Inspire Your Customers

We live and work in a competitive environment. Chances are, your competitors offer products or services that are similar to yours. All other things being equal, the one thing that will constantly distinguish you from your competitors is the quality of customer relationships. That’s where Compendium can really give you an edge.

Compendium products and ideas can help you attract, win, multiply, maintain and leverage your customer relationships and goodwill through:

• Innovative Relationship Marketing programs
• Inspiring customer gift and appreciation programs
• Proprietary promotions that cut through the clutter

We’ve proven that amazing things can happen when a company stops pressing for the order and starts nurturing the relationship. Be thoughtful, attentive and creative about the quality and frequency of your customer communications. 

Regularly send valuable information to your customers to help them prosper. 

Commemorate the anniversary of your first project together. 

Send inspiring gifts or greetings that remind them of your mutual commitment to quality, service, teamwork, integrity and loyalty.

Or simply say “thank you” in unexpected ways. 

Compendium leverages these “touch points” with your most important customers, prospects and partners, deepening your relationships through memorable media that creates unique, personal connection.

Whether drawing on any of our hundreds of existing products, or on our design, copywriting and sourcing expertise to develop your own unique promotional media, Compendium can be a one-of-a-kind solution to help you grow your relationships and grow your business. www.compendiuminc.com

Seth Godin advocates using ‘viral’ strategies to grow a ‘tribe’ of like minded people. One reason for my blogging, second only to having, at last, a discipline to keep a journal of our findings about the phenomena that is Nurture Marketing.
So, given the original goal of growing a community, one designed to help all tribe members succeed using by using and sharing nurturing philosophies, best practices and other appropriate touch methodologies,
I would like to request a personal favor.
It just takes a moment, clear your mind, picture the faces of the people you know, both business as well as personal, that you would call a ‘natural-nurturer’.

Send along an invitation to them to join the www.nurturemarketingblog.com and start a conversation about nurturing customer relationships.
let’s see what we can grow in our garden.

Good Nurturing and THANKS!

Jim

Today, I want to share a contributed letter from the CEO of a company in what appears to be an authentic and earnest attempt of putting a face and form on value.

  "As we begin 2010, I want to take this opportunity to personally thank each and every one of our customers—on behalf of all our employees—for your continued support and loyalty during the past year. We know that you have a choice of brands and I feel honored that you have chosen us. I can assure you that we do not take your business for granted and we will continue to work hard each and every day to earn your trust.
    2009 was a challenging year with bad economic news appearing almost daily on television, in newspapers and on the Internet. Despite these tumultuous times, I am proud to report that we have continued to invest in our brands during the past year. We are holding firm to the belief that outstanding quality and superior service are the keys to our long-term growth and success. In this regard, we sincerely appreciate the trust you continue to show in us.
    During 2009, I had the opportunity to communicate with many of our customers through the "Ask the President" button on our website's home page. Your emails come directly to me, and yes, I still read each and every one—no middle man, no form letters, no kidding! I sincerely appreciate the feedback that I have received—both good and, yes, sometimes bad—as this type of input from our customers is critical to our efforts to improve. Please keep the feedback coming in 2010!"

  Here's my question to you. Why doesn't every business do this simple, straightforward communication? It’s not too late to emulate and execute.
 

      Jim Cecil

Nurture Institute LLC

      Direct 425 698 7601
www.nurtureinstitute.com